Abstract This study focused on proprietors and business development managers of the 367 tour companies in Kenya members of Kenya Association of Tour Operators (KATO). The sample size was 256 proprietors and business development managers who were selected randomly from the population. To collect primary data a semi-structured questionnaire with both close-ended and open-ended questions was used. A pre-test was conducted to increase the reliability and validity of the data collection tool. The...
Abstract This study sought to establish the relationship between Corporate Social Responsibility strategy and the financial performance of deposit taking Savings and Credit Co-operatives societies in Kenya. The SACCO subsector is part of the Kenyan Co-operative sector comprising of both financial and non financial cooperatives. Saving and credit co-operative (SACCO) are the financial cooperatives. They are an important part of the financial sector in Kenya, providing savings, credit and insu...
Abstract The study sought to contend with the dearth of studies in adoption of Strategic Management Accounting (SMA) practices in manufacturing firms in Kenya with the view of filling this gap. The overall objective of the study was to investigate the organizational contingencies influencing the adoption of SMA practices among manufacturing firms in Kenya. Accordingly, the findings of the study contribute to the flourishing literature on adoption of SMA practices. This study is anchored in t...
Abstract The study examines the moderating effect of CEO tenure and managerial experience on firm specific determinants of corporate cash holdings among private manufacturing firms in Kenya. The research employed the upper echelons theory to identify CEO characteristics that are linked to various organizational processes and outcomes such as cash holding. This survey-based study selected a sample of 156 private manufacturing firms from the firms registered with the KAM that are located in Na...
Abstract Cash is an important requirement to ensure continued operations, yet excessive cash holdings might result in many problems which include; higher opportunity costs of holding cash, cash abuse, a tool for obtaining the controlled self-interests and the higher agency costs. The study established that there is a negative and insignificant linear relationship between growth opportunities and corporate cash holdings. The study also revealed that leverage is a significant positive determin...
Abstract The purpose of this study was to investigate the managerial perspectives on the firm characteristics and corporate cash holdings among in private manufacturing firms in Kenya. Several international studies show that companies retain important cash holdings. Yet, the prevalent questions have been: Why do firms hold huge amount of cash? Is there an optimum level of cash holdings? A review of the extant literature reveals that mostly the current studies depend on secondary data to prov...
Abstract The institute of internal auditors expressed the role of internal audit as that providing objective assurance and consulting services designed to add value and improve an organization’s operations. In performing thisrole the internal auditors are required by the international standards to exercise professional independence and objectivity. Audit independence means freedom from conditions that threaten mental attitude which is unbiased. The literature suggests several factors which...
Abstract The purpose of this study was to investigate factors influencing corporate capital structure in private firms in Kenya. Although the capital structure issue has received substantial attentio n, it is noteworthy that most of the empirical work done focuses on data derived from developed economies that have many institutional similarities and their applicability in developing markets such as Kenya is not documented. Yet, the maintenance of an optimal capital structure is considered as...
Abstract The internal audit department has a role of providing objective assurance and consulting services designed to add value and improve an organization’s operations. In performing this role the internal auditors are required to provide an auditor’s opinion which is supported by sufficient and reliable audit evidence. Since auditors are not in a position to examine 100% of the records and transactions, they are required to sample a few and make conclusions on the basis of the sample ...
Abstract Over the last 200 years, most water utilities have been publicly owned and managed. For this reason, public utility firms have been getting financial support from the government in form of subsidies in addition to the revenue they generate internally. However these water utilities have not been able to generate sufficient internal revenue to ensure sustainable financial investments. There has been low level of investment in the sector especially in peri-urban markets mainly due to p...
Abstract The Government of Kenya has established the Youth Enterprise Development Fund and other Government Funds to help reduce unemployment rate among the youth. Despite this effort by the government, the uptake of these funds remains low. The study intended to f ind out the determinants of group loans uptake at the Youth Enterprises Fund in Nakuru West Constituency. The accessible population was drawn from the registered youth groups in Nakuru West Constituency which are 520 in number. Pr...
Abstract The Kenyan economy is becoming more and more open with international trading constantly increasing and as a result Kenyan firms become moreexposed to foreign exchange rate fluctuations. The relative price changes affect the firms’ competitive market position, leading to changes in cash flows and ultimately, in firms value. While it was observed that firms use a variety of instruments to manage financial risks, it was not clear whether the full potential of these instruments is bei...
Abstract While Savings and Credit Co-operative Societies (Saccos) are an autonomous Association of Persons united voluntarily to meet their economic and social needs, their performance has been affected by low capital base. Their capital base is low, thus limiting loanable funds to members. To cope with this problem, many Saccos have introduced Front Office Sacco Activity (FOSA), in order to strengthen their capital base and liquidity level. FOSAs offer simple banking services to members/cus...
Abstract For any economic development it is important to finance infrastructure such as water and sanitation. Water has historically been viewed as public good not as a market commodity and thus water utilities have not been able to generate sufficient internal revenue to ensure sustainable financial investment. There is a low level of investment in the sector by both public and private players especially in peri-urban areas in Kenya. Many people in these areas still do not have access to ba...
Abstract MPesa is a mobile phone based money transfer system in Kenya which grew at a blistering pace following its inception in 2007. Its adoption is country wide; both in the urban and rural areas. Mpesa enables the users to send money in electronic form, store money on a mobile phone in an electronic account and deposit or withdraw money in the form of hard currency at any of the Mpesa agents, pay bills and purchase goods and services. The purpose of the study was to identify socio-econom...