Financial Literacy and Investment Decisions Among Middle and Long-Distance Elite Athletes in Kenya
| dc.contributor.author | Nyang’au,Fednard Machoka | |
| dc.date.accessioned | 2024-09-09T09:22:26Z | |
| dc.date.available | 2024-09-09T09:22:26Z | |
| dc.date.issued | 2024-05 | |
| dc.description | A Research Project Submitted to the School of Business, Economics and Tourism in Partial Fulfillment of the Requirement for the Award of the Degree of Master of Business Administration (Finance Option) of Kenyatta University May, 2023 supervisor. Charity Njoka | |
| dc.description.abstract | Kenya is known internationally for producing middle- and long-distance champions in athletics. This has been attributed to its dominance in middle- and long-distance races which have exhibited comparable dominance in these races. Most of these athletes are young with no complete formal education. The issue around financial literacy and its relevance to sports remains unresolved. The objective of this study was to examine the impact of financial literacy on the investment decision-making process among middle and long-distance elite athletes in Kenya. The primary aims of this study were as follows: first, to examine the impact of financial knowledge; second, to assess the influence of saving habits; and third, to evaluate the effect of awareness of investment opportunities on investment decision-making among middle- and long-distance elite athletes in Kenya. The study was supported by four theories: goal setting theory, financial literacy theory, absolute income theory, and permanent income hypothesis. The research design employed in this study was descriptive in nature. A total of 1,695 athletes specializing in middle- and long-distance events, and based in Kenya, were included in the study. From this population, a sample size of 318 athletes was selected, the researcher took into account both stratified and purposive sampling methodologies in order to identify the specific participants. Data collection was conducted using structured questionnaire. The study included correlation analysis and a multivariate regression model to assess the hypotheses. The research results were presented through the utilization of graphical representations and tabular formats. The researcher demonstrated adherence to research ethics by obtaining a permit letter and a NACOSTI license in order to conduct the research. The findings revealed that the participants exhibited a lack of knowledge of the functioning of the Nairobi Securities Exchange (NSE). Moreover, it was observed that athletes engaged in moderate buying and selling activities of ordinary shares, preference shares, and bonds for various firms inside the NSE. The findings of the study revealed that a significant proportion of the participants expressed a tendency to infrequently allocate a portion of their profits following each successful race for the purpose of saving. The findings of the survey revealed that a significant proportion of the participants expressed a modest level of awareness regarding various investment prospects both domestically and internationally. The findings of the study suggest that the allocation of investments in real estate, business, and financial assets in the region was only partially and inadequately executed. The findings of the research indicated that the level of literacy among the participants was significantly low. The team had a limited understanding of fundamental concepts in financial literacy, including the overall inflationary trend in the economy, the concept of time worth of money, and the potential misperception of cash holdings. It is imperative that athletes obtain the necessary knowledge that will serve as the fundamental basis for an effective investment strategy. By acquiring such knowledge, athletes will enhance their ability to develop a robust investment plan that is resilient to inflation. Hence, it is imperative for athletes to actively pursue financial counsel, as there exists a multitude of advisors who can offer them the necessary assistance, direction, and expertise required to construct a robust investment strategy that ensures long-term viability, while safeguarding against potential financial setbacks stemming from the prevailing economic climate. | |
| dc.description.sponsorship | Kenyatta University | |
| dc.identifier.uri | https://ir-library.ku.ac.ke/handle/123456789/28735 | |
| dc.language.iso | en | |
| dc.publisher | Kenyatta University | |
| dc.title | Financial Literacy and Investment Decisions Among Middle and Long-Distance Elite Athletes in Kenya | |
| dc.type | Thesis |