Business Administration

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Ordinal Logistic Regression Versus Multiple Binary Logistic Regression Model for Predicting Student Loan Allocation
(2012) Muriithi, D. K.; Kihoro, J.; Waititu, A.
This paper examines two different methodologies to a classification problem of higher education loan applicants. The paper looks into the allocations made by the Higher Education Loans Board (HELB) relative to the economic status of the applicant. In this article, we modeled Higher Education Loans Board (HELB) loan application data from three public universities to determine whether the loan was allocated based on the needs of the respective applicants. The data was classified into two natural categories of those not allocated the loan (0) and those allocated the loan (1). This paper classified further to consider the amounts awarded by the HELB. This was possible since we observed that HELB loans were awarded in distinct categories (Kshs 0, Kshs 35,000, Kshs 40,000, Kshs 45,000, Kshs 50,000), Kshs 55,000 Kshs 60,000). In this study, we used ordinal logistic regression and multiple binary logistic regressions in classifying the applicants into the identified categories. The models were generated that included all predictor variables that were useful in predicting the response variable. This study found that HELB allocate a loan amount to Kshs 40,000 but anything behold Kshs 40,000 is based on information provided by an applicant. The study revealed that the loans were not awarded based on the need of respective applicants. This has led to misclassification when allocating loan. The study found that wealth and amount of fees paid for siblings were other factors that could be considered to identify needy applicants. This results show that an ordinal regression model gives accurate estimates that can enable HELB make a viable awarding decision. It is expected that proper determination of the most accurate model will go a long way in minimizing the number of mis-classifications when awarding HELB loan. The study raises questions on the criteria used by HELB in loan allocation but further studies may be commissioned to confirm or disapprove our findings.
Influence of Entrepreneurship Training on Performance of Youth Owned Small and Medium Enterprises in Maara SubCounty, Kenya.
(2014) Miriti, Gilbert Mugambi; Mugambi, Mercy Muthoni;; Ochieng, Robert Joseph
The purpose of this article is to explore the challenge of unemployment among the youth in Kenya and to examine how curriculum can be re-loaded to make it more appropriate in addressing youth unemployment taking into account dominant activities in society and needs of learners. Information was captured through document analysis. This helped to gather data on global issues of youth unemployment, trends of youth unemployment, government strategies in alleviating youth unemployment in Kenya, the role of education and training, the 8-4-4 system of education in Kenya; its rationale and challenges, the role of curriculum in addressing unemployment with reference to Life Skills, Entrepreneurship education and Vocational and Technical education.. Issues identified as affecting education in Kenya relate to: policy and framework formulation, relevance and content delivery, lack of flexibility to adapt to changing social - economic needs, monitoring and evaluation. Reference has been made to Tyler model of curriculum design and development as a starting point in designing more appropriate curriculum to address the challenge of youth unemployment It was recommend that: government should develop policy frameworks to coordinate education and training with emphasis on learner-centred curriculum design, integration of entrepreneurship component in curriculum to complete the traditional education, the need to engage with “Dual” training and work – experience programmes to relate theory to practice and overall improvement of monitoring and assessment of curriculum implementation at all levels of education and training.
Evaluating Secondary School Examination Results: Application of Principal Component Analysis
(2014-05-15) Njoroge, Elizabeth W. 1,; Njoroge, Gladys G. 2; Muriithi, Dennis K. 3
Results from Kenya National Examination Council (KNEC) indicate that there are schools that have had an upward trend in performance while others have continued to show a decline. This paper seeks to find out the principal components, in terms of subjects, that contribute to this performance. Principal Component Analysis (PCA), a data reduction procedure was applied to assess the performance of the national examination at the Kenya Certificate of Secondary Examination (KCSE) level for the last three years. The schools were purposively selected from Nyanza, Nairobi, Rift Valley and Eastern provinces. Secondary data from KNEC was used and analyzed using SPSS software. The PCA brought out the component loadings and the correlation structure between the different subjects; as a result one component was extracted. The results provided evidence that all the subjects are highly correlated and the first component having the highest variance. This principal component emerged to be English language. Being the subject with the highest sum of the squared loadings, it was concluded that it played the greatest role in performance of the examinations.
Face threatening acts employed in miraa business discourse by traders of Igembe and Somali origin.
(2014-07) Kobia, John M.; Miriti, Gervasio
The prime concern of this study was to analyse the Face Threatening Acts (FTAs) employed by miraa traders, from Igembe and Somali origin, in their discourse. The researches were given the impetus to undertake this study because of the uniqueness exhibited in miraa traders’ discourse. The study aimed at establishing the FTAs depicted in their discourse and was guided by the Politeness Theory by Levinson and Brown (1987) to form the basis of its theoretical framework. The study was carried out at Muringene Market and in Maua town. It employed the social networks approach to identify participants. The purposive sampling procedure was used. Data was collected by tape-recording negotiations as miraa traders went on with their businesses and through non-participants observation. Data analysis was largely Qualitative but summarized using descriptive statistics and presented using a table. The study found out that miraa traders make use of several FTAs but with significant variation in relation to their frequency of occurrence. The most occurring FTA was that of insults leading to the conclusion that miraa traders are abusive.
Communication Strategies Inherent in Business Discourse by Miraa Traders of Igembe and Somali Origin
(2014-10) Kobia, J. M.; Miriti, G.
The main purpose of this paper was to analyse the communication strategies employed by miraa traders from Igembe and Somali origin, in their business discourse. The researchers were given the impetus to undertake this study because of the uniqueness exhibited in miraa traders’ discourse. The study aimed at establishing communication strategies depicted in their discourse and was guided by the Politeness Theory as advanced by Brown and Levinson (1987) and Communication Accommodation Theory by Giles (1971) to form the basis of its theoretical framework. The study was carried out at Muringene Market and in Maua Town in Kenya. It employed the social networks approach to identify participants. The purposive sampling procedure was used. Data was collected by tape-recording negotiations as miraa traders went on with their business interactions and through non-participants observation. Data analysis was largely qualitative. The study found out that miraa traders make use of several communication strategies such as inclusion, exclusion, directness, high level of informality, and volubility and taciturnity that form the basis of this study
Impact of cost Reduction Strategies on Performance of Tea Factories in Embu County, Kenya.
(2014-12) Namu, Nelson Njiru; Kaimba, George K.; Muriithi, D.K.; Nkari, Isaac M.
Kenya’s overall economic and social development is highly dependent on the growth and development of the agriculture sector. Tea as a leading cash crop has made significant contribution to the economy. Tea exports increased by nearly 30 percent in 2010 reaching 441 tonnes valued at USD 1.3 billion. However the tea industry is faced withmyriad challenges that threaten its survival if immediate intervention measures are not put in place. The tea industry is challenged by high cost of labour, farm inputs, energy/fuel, numerous taxes and levies. This study aimed at determining the impact of the cost reduction strategies initiated by various tea factories in Embu County. A total of 18 managers, 40 employees and 225 tea growers were sampled from the targeted population. Data from the respondents was ollected through structured questionnaires. Data collected was analyzed descriptively using frequencies and percentages. The study found that the factories employed cost reduction measures. Some of measures were acknowledged to be applicable at 100%. These were strategies like staffing, technology and energy sources. The results further indicated that considering equal period of time before and after 2006 (when cost reduction strategies were introduced), the results obtained statistically showed that the amount of tea processed was not correlated with cost reduction strategies. This is because the quantity of tea decreased from 191,258,695 kilograms to 189,880,652 kilograms. The rate of annual returns for the farmers increased from a mean of 67.47% to 72.6% which implied that cost reduction measures had a correlation with the annual returns.
Evaluating Secondary School Examination Results: Application of Principal Component Analysis
(Scienpress Ltd,, 2014-12-07) Njoroge, Elizabeth W. 1,; Njoroge, Gladys G. 2; Muriithi, Dennis K. 3
Results from Kenya National Examination Council (KNEC) indicate that there are schools that have had an upward trend in performance while others have continued to show a decline. This paper seeks to find out the principal components, in terms of subjects, that contribute to this performance. Principal Component Analysis (PCA), a data reduction procedure was applied to assess the performance of the national examination at the Kenya Certificate of Secondary Examination (KCSE) level for the last three years. The schools were purposively selected from Nyanza, Nairobi, Rift Valley and Eastern provinces. Secondary data from KNEC was used and analyzed using SPSS software. The PCA brought out the component loadings and the correlation structure between the different subjects; as a result one component was extracted. The results provided evidence that all the subjects are highly correlated and the first component having the highest variance. This principal component emerged to be English language. Being the subject with the highest sum of the squared loadings, it was concluded that it played the greatest role in performance of the examinations.
Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya
(2015) Muriithi, Martin 1; Muriithi, Dennis 2
Saving is a key component in any development endeavor as it is believed to be the surest way of increasing income and boosting productivity in an attempt to break through the vicious cycle of poverty. A number of studies have demonstrated that the investment and retirement saving behaviors of women and men differ. However, inconsistencies in findings exist in the few studies conducted on the differences in general saving behaviors between men and women. The purpose of this study was to establish gender differences in saving culture with a special bias on SACCO members. Specifically, the study aimed at assessing the influence of income levels on saving culture; evaluate the effect of marital status on saving culture and establish the influence of age on saving culture of SACCO members in Nyandarua County. The research adopted a descriptive survey design and targeted all business and agricultural based SACCO members and officials in Nyandarua County. 18 SACCO officials and 375 SACCO members were sampled using purposive and stratified random sampling respectively. The researcher collected data using structured questionnaires. A descriptive analysis of the data after processing involved computing mean, mode and median with the help of Statistical Package of Social Sciences Software and Microsoft Excel and presented in frequency tables and charts. Marital status of the respondents was found to be statistically significant in terms of the annual saving. The result implies that a change in marital status will affect the annual savings negatively. The researcher is 99.952% confidence that the change in marital status will negatively have an impact on annual saving. The researcher recommends nurturing of marriage institution as a way of protecting saving culture among women and men members of the SACCO in Nyandarua County.
Effect of Leverage on Performance of Non-financial Firms Listed at the Nairobi Securities Exchange
(Science Publishing Group, 2015-08-13) Mukaria, Henry Kimathi; Mugenda, Nebat Galo; Akenga, Grace Melissa
Managers strive to maximise shareholder wealth by making rational financing decisions regarding optimal capital structure which would minimise its cost of capital. In attempt to magnify the return to shareholders, managers employ the use of debt. When excessive debt financing is employed by a firm, it increases the cost of financing and the financial risk of the firm leading to decreasing the return on equity as a result of financial distress. Do the various debt equity ratio levels lead to different financial performance when compared for high levered and low levered firm, high growth and low growth firm or large and small firms? A causal research design was used to establish the cause and effect relationship between financial leverage and the financial performance of the firms. The target population was 61listed firms on the Nairobi securities exchange by December 2013.Purposive sampling was used to select 38 non-financial companies. Financial companies were eliminated because the company’s capital structures have specific characteristics affected by industry regulatory requirements. Secondary data was obtained from published financial statements of the sampled companies for the six year period from 2008 to 2013.Ordinary Least Square method was used to establish the cause effect relationship among variables; Hypotheses were tested at 5% significance level using t-statistic. The study found that there was no significant difference in financial performance between highly levered and lowly levered firms and that there existed a negative relationship between Leverage and firm’s performance. There were also no significant differences in financial performance between high growth levered firms and low growth levered firms and that there existed a negative relationship between a firm’s growth opportunity and financial leverage ratio. There was no significant difference in financial performance between large levered firms and small levered firms. The findings of this study may act as a policy guideline to finance managers involved in managing firms on the contribution of financial leverage and its association with return on equity to maximise shareholder wealth.
ANALYSIS OF THE VOLATILITY OF REAL EXCHANGE RATE AND EXPORTS IN KENYA USING THE GARCH MODEL: 2005-2012.
(Journal of Multidisciplinary Scientific Research, 2015-08-16) WASSEJA, MOHAMMED MUSTAPHA; MWENDA, SAMWEL N.; MUSUNDI, SAMMY W.; NJOROGE, ELIZABETH
The real exchange rate has proven to be an important factor in international trade because it is expected that exports respond to real exchange rate movements with respect to the characteristics of the importing and exporting countries. Exchange rate volatility increases uncertainty of profits on contracts denominated in foreign currency and subsequently dampens trade and economic growth. This study investigated how real exchange rate volatility affected exports of key Kenyan commodities to the European Union and United Kingdom, namely; tea, coffee and horticulture to the European Union. The presence of exchange rate volatility was determined using the GARCH model. A Bounds testing and Autoregressive Distributed Lag model was used to establish the presence of a long run relationship between exchange rate volatility and commodity exports. Findings revealed that exchange rate volatility affected tea exports to the UK and horticulture exports to the European Union. Foreign income played an important role in explaining tea and coffee exports to the UK and EU respectively.
Adoption of Near Field Communication in Universities in Kenya
(2015-09) Muthengi, Fredrick Mugambi; Njebiu, Victor Mwenda
In our day to day life, the adoption of new technology to new innovation in various sectors is rising. Campus life has shifted from students’ carrying laptops and a bag full of pass cards to carrying Ipads or smart phones. Barcode bars on pass and identification cards have been replaced by near field communication (NFC) instructions. NFC is a technology standard for very-short-range wireless connectivity that enables quick, secure two-way interactions among electronic devices. The level of global interaction and mode of communication is changing and the adoption of Near Flied Communication is on the rise, replacing bar code and QR code. The technology is at advanced stages ranging from file transfer; access controls to paying for goods and services on NFC enabled payment points/devices or cards. The introduction of Near Field Communication in the universities has enhanced the speed of processes as well as simplifying them. The pass cards/ids students carry along and time spent on queues waiting to be served is reduced. This paper explores the advantages of near field communication over magnetic bar codes and QR codes in an academic institution. Near field communication combines several instructions which are read via NFC enabled devices: smart phones or tags. Student card is customized with NFC tag: from library card, access control card to student identification card. NFC is at early stages of implementation in Kenya but has been successfully rolled out in transport industry as Bebapay. With the rise of mobile enabled near field communication devices, its adoption in Kenyan universities will be a success.
Effect of Leverage on Performance of Non-financial Firms Listed at the Nairobi Securities Exchange.
(2015-09) Mukaria, Henry Kimathi*; Mugenda, Nebat Galo,; Akenga Gr, Grace Melissa
Abstract: Managers strive to maximise shareholder wealth by making rational financing decisions regarding optimal capital structure which would minimise its cost of capital. In attempt to magnify the return to shareholders, managers employ the use of debt. When excessive debt financing is employed by a firm, it increases the cost of financing and the financial risk of the firm leading to decreasing the return on equity as a result of financial distress. Do the various debt equity ratio levels lead to different financial performance when compared for high levered and low levered firm, high growth and low growth firm or large and small firms? A causal research design was used to establish the cause and effect relationship between financial leverage and the financial performance of the firms. The target population was 61listed firms on the Nairobi securities exchange by December 2013.Purposive sampling was used to select 38 non-financial companies. Financial companies were eliminated because the company’s capital structures have specific characteristics affected by industry regulatory requirements. Secondary data was obtained from published financial statements of the sampled companies for the six year period from 2008 to 2013.Ordinary Least Square method was used to establish the cause effect relationship among variables; Hypotheses were tested at 5% significance level using t-statistic. The study found that there was no significant difference in financial performance between highly levered and lowly levered firms and that there existed a negative relationship between Leverage and firm’s performance. There were also no significant differences in financial performance between high growth levered firms and low growth levered firms and that there existed a negative relationship between a firm’s growth opportunity and financial leverage ratio. There was no significant difference in financial performance between large levered firms and small levered firms. The findings of this study may act as a policy guideline to finance managers involved in managing firms on the contribution of financial leverage and its association with return on equity to maximise shareholder wealth.
Determination of Infant and Child Mortality in Kenya Using Cox-Proportional Hazard Model
(Science Publishing Group, 2015-09-10) Muriithi, Daniel Mwangi 1; Muriithi, Dennis K. 2
Abstract One of the Millennium Development Goals is the reduction of infant and child mortality by two-thirds by year 2015. To achieve this goal, efforts need be concentrated at identifying cost-ffective strategies as many international agencies have advocated for more resources to be directed to health sector. One way of doing this is to identify the important factors that affect infant and child mortality. This study is necessary because, Infant and child mortality is one of the most important sensitive indicators of the social economic and health status of a community. This is because more than any other age group of a population, infants and children survival depends on the socioeconomic condition of their environment. This study addresses factors affecting infant and child mortality in Kenya. The main objective of the paper is to determine the effect of socioeconomic and demographic variables on infant and child mortality. Childhood mortality from the, KDHS 2008-09 data, was analyzed in two age periods: mortality from birth to the age of 12 months, referred to as “infant mortality” and mortality from the age of 12 months to the age of 60 months, referred to as “child mortality”. Data from Kenya Demographic and Health Survey (KDHS 2008-09) was collected by use of questionnaires, after carrying out a two-stage cluster sampling design. The Cox regression survival analysis was used to compute relative risk of the socioeconomic and demographic variables, on infant and child mortality. The study revealed that the socioeconomic and demographic factors affect both infant and child mortality. The relative risks were higher for infant’s mortality as compared to child’s mortality. The place of birth has the greatest impact on infant mortality. The study recommends policy makers and programme managers in the child health sector to formulate appropriate strategies to improve the situation, of children less than five years in Kenya, by creating awareness on these factors and improving on them.
Effect of Liquidity on the Dividend Payout by Firms Listed at the Nairobi Securities Exchange, Kenya.
(2015-10) Olang’, M. A.,; Akenga, G. M.,; Kamau, J. M.; Olang, Margaret Akinyi
Dividend decision is a critical finance function since it involves determining the amount distributed to shareholders as earnings or the amount to reinvest internally. The determination of dividend pay-out is influenced by the liquidity position of the firm but the extent to which liquidity affects the dividend pay-out still remains a puzzle since most empirical studies conducted have reported inconsistent results and no universally accepted explanation for companies with adequate liquidity have observed uniform dividend payment behaviour. It is in this context that the study was set out to determine the effect of liquidity on dividend pay-out of a firm. The objectives of the study were; to determine the effect of profitability, cash flows and working capital on the firms’ dividend pay-out decisions. The study employed causal comparative research design on a target population of 61 firms listed at the NSE. Purposive sampling was used to select 30 firms which consistently paid dividends from the year 2008 to 2012. Data analysis was done using descriptive and inferential statistics. The study revealed that profitability plays a major role in dividend pay-out because of the higher coefficient as compared to cash flows and working capital and consequently the companies which posted higher profits translated this to higher dividends paid out to investors. The study recommends that firms should ensure that profits are stable, cash flows freely flow into the firm and working capital is efficiently managed so as to increase the firms’ dividend pay-out. The results would provide information to managers to determine an optimal dividend pay-out that would maximise the company’s stock price and thus lead to maximisation of shareholders wealth. The study also forms a basis for further research and adds knowledge to the existing body.
Effect of Mortgage Market Risk on Mortgage Uptake: A Case Study of Mortgage Lenders in Kenya
(2015-12) Akenga, Grace Melissa; Olang, Margaret Akinyi; Galo, Nebat Mugenda
Mortgage market is a financial system that provides opportunity for originating and trading mortgage loans. A mortgage loan is used for financing real estate investments. Although there has been a remarkable increase in demand for real estate investments in Kenya the amount of mortgage uptake is still low. Studies reveal risks as important macroeconomic variables in the mortgage market. However the effect of these risks on mortgage uptake in Kenya is inconclusive. The purpose of this study was to evaluate the effect of mortgage market risk on mortgage uptake. The objectives of the study were to determine the effect of credit risk, interest rate risk, price risk and liquidity risk on mortgage uptake in mortgage lending institutions in Kenya. Causal research design was used to establish the effect of mortgage market risk on mortgage uptake. Purposive sampling was used to select a sample size of 27 out of 37 mortgage lenders that had been involved in mortgage lending since 2008 to 2013. Secondary data was obtained from Central Bank of Kenya reports and mortgage special reports for the period under study. The assumptions that form a basis for use of the regression model were tested using homoscedasticity and autocorrelation. Ordinary Least Square method was used to determine the cause effect relationship among variables while hypotheses were tested at 5% significance level. The overall model was found to be significant with F=13.474 and p-value (0.00 < 0.05). The findings revealed that risks faced by lenders affect mortgage uptake such that if the risk involved in lending is high lenders limit the amount of mortgage lending. The study recommended that lenders should ensure risks are well managed so as to increase mortgage uptake. The findings would form a basis for lenders to formulate risk management strategies that would help to mitigate risks and increase mortgage uptake. The study also forms a basis for further research and adds to the existing body of knowledge.
Effect of Corporate Environmental Disclosure on Financial Performance of Firms Listed at Nairobi Securities Exchange, Kenya
(2016-08-01) Karambu, Kiende Gatimbu; Wabwire, Joseph Masinde
Corporate environmental disclosure entails reporting on the impact of company activities on the natural environment such as waste management, recycling, carbon management, emission, pollution, wetland and wildlife conservation. Conventional accounting systems are limiting since they fail to directly address sustainability concerns. They have failed to address economic growth against social and environmental needs in order to balance the different needs of various stakeholders. Sustainability has become a major pillar of today’s business activities. This study consequently aimed at assessing the effect of corporate environmental disclosure on financial performance of listed firms at the Nairobi Securities Exchange, Kenya. This study made use of longitudinal secondary data from the annual reports and financial statements of listed companies at the Nairobi Securities Exchange. Content analysis of sampled listed companies’ annual reports was undertaken to examine environmental disclosure practices. A checklist of environmental disclosure items and categories was developed and environmental disclosure indices computed. Casual research design was employed to determine the cause-effect relationship between corporate environmental Disclosure and financial performance. Target population of the study was 61 listed companies. Purposive sampling was employed in selecting firms that have been listed for entire period of study and whose annual reports are available at the Nairobi Securities Exchange. This resulted into a sample size of 32 listed companies. Coefficient of Skewness was used to test the normality of data. Homoscedasticity and auto-correlation assumptions of the regression model were tested using scatter plots and Durbin Watson test. Linear regression model was used to determine the casual relationship between environmental disclosure and financial performance. The overall model was found to be significant with F=8.514, P-value <0.05. The predictor variable explained 47.7% of changes in financial performance. Firm size and leverage have no effect on environmental disclosure. Findings reveal that environmental disclosure with P-value <0.05 has a positive significant effect in the mean financial performance. The study recommends that firms should engage in environmental disclosure because it leads to increased financial performance. The study would be useful to the government and also managers to ensure policies are put in place to ensure present generations meet their needs without compromising the ability of future generations to meet theirs. The study also forms basis for further research and adds knowledge to existing body.
Effect of Debt Finance on Financial Performance of Savings and Credit Cooperative Societies in Maara Sub-county, Tharaka Nithi County, Kenya
(Science Publishing Group, 2017) Kirimi, Peter Njagi; Simiyu, Justo; Murithi, Dennis
Debt financing is the acquisition of funds through borrowing. Most Sacco's results into borrowing to finance their increased customer's demands thus increasing the leverage if not controlled. This study determined the effects of debt finance on financial performance measured ROE. The study investigated the effect of interest rate, loan tenure, debt/equity ratio, and interest coverage ratio on financial performance of savings and credit cooperative societies in Maara Sub-County, Tharaka Nithi County, Kenya. Causal research design and a target population of 10 Sacco's and census survey were used. Secondary data from the Saccos financial statements for the last eight years used. Descriptive and inferential statistics were used with help of Statistical Package for Social Sciences (SPSS) and results presented in tables. A strong positive relationship of 0.984 between debt and ROE was revealed. A negative relationship existed between interest rate, loan tenure and ROE while a positive relationship was revealed between debt equity ratio and interest coverage ratio on ROE respectively. Interest rate, loan tenure and debt equity ratio had significant effect on ROE at t-statistics of 3.474,-2.938, 9.217 and 8.728 respectively with their P-values 0.018, 0.032, 0.000 and 0.000 less than 0.05 respectively.
The Optimization of Multiple Responses of Watermelon to Organic Manure Using Response Surface Methodology
(2017-03) Muriithi, Dennis K.; ArapKoske, J. K.; Gathungu, Geofrey K.
This paper discusses the use of Central Composite Design approach to plan the experiments for growth and yield of watermelon with an overall objective of optimizes the multiple responses of watermelon to organic manure. Response Surface methodology (RSM) has been adopted to express the output parameters (responses) that are decided by the input process parameters. Poultry manure, cow manure and goat manure were the independent variables to optimize the response values of interest that includes; watermelon fruit weight, number of branches and vine length per plant. The predicted values were found to be in good agreement with the experimental values which define the propriety of the models and the achievement of CCD in the optimization of multiple responses of watermelon. The results of the study found that the optimal values of responses were 93.148 ton/Ha of fruit weight of watermelon in the study area, 8 branches of watermelon plant and vine length of 224 cm at 8weeks.Based on the findings of the study, it was recommended that farmers in the study area apply 17.125 tons/Ha of poultry manure, 13.27 tons/Ha of cow manure and 18.08 tons/Ha of goat manure for increased growth and yield of watermelon. Finally, this study represented the development of mathematical models for crop production based on statistics that can be useful for predicting and understanding the effects of experimental factors. Also, it would be a scientific and economic approach to obtain the maximum amount of information in a short period of time and with the lowest number of experiments.
Application of Central Composite Design Based Response Surface Methodology in Parameter Optimization of Watermelon Fruit Weight Using Organic Manure
(2017-03-18) Muriithi, Dennis K.1,; Arap Koske, J. K. 2,; Gathungu, Geofrey K. 3
Response Surface Methodology (RSM) is a critical technology in developing new processes, optimizing their performance and improving the design. In Kenya, watermelon cultivation is gradually gaining ground. It is a crop with huge economic importance to man as well as highly nutritious, sweet and thirst- quenching. In order to increase crop production, there is need to increase soil nutrient content with organic manure such as poultry, cow or other animal wastes. At present, there are no recommended standards with respect to rate of poultry manure, cow manure and goat manure for enhancement of yield of watermelon in Kenya. The main objective of the study was to develop an approach for better understanding of the relationship between variables and response for optimum operating settings for maximum yield of watermelon crop using Central Composite Design and Response Surface ethodology. Response Surface Model evolved for response shown the effect of each input parameter and its interaction with other parameters, depicting the trend of response. Verification of the Fitness of the model using ANOVA technique shows that the model can be used with confidence level of 0.95, for watermelon production. Further validation of the model done with the additional experimental data collected demonstrates that the model have high reliability for adoption within the chosen range of parameters. The optimal value for each factor was found as 17.13tons/Ha of poultry manure, 13.3tons/Ha of cow manure and 18.1tons/Ha of goat manure. At optimal conditions, the actual value of the fruit weight of watermelon was 93.148tons/Ha. This translates to 37.3tons per acre piece of land of watermelon fruit weight for a period of 75-85 days after sowing. In addition, a peasant farmer can generate about 745,184 Kenya shillings within a period of 75 day in one acre piece of land at a low price of Kshs 20 per kilogram of watermelon fruit. RSM has resulted in saving of considerable amount of time and money hence recommended in similar study.
Effect of Debt Finance on Financial Performance of Savings and Credit Cooperative Societies in Maara Sub-county, Tharaka Nithi County, Kenya
(Science Publishing Group, 2017-08-03) Kirimi, Peter Njagi; Simiyu, Justo; Murithi, Dennis
Debt financing is the acquisition of funds through borrowing. Most Sacco’s results into borrowing to finance their increased customer’s demands thus increasing the leverage if not controlled. This study determined the effects of debt finance on financial performance measured ROE. The study investigated the effect of interest rate, loan tenure, debt/equity ratio, and interest coverage ratio on financial performance of savings and credit cooperative societies in Maara Sub-County, Tharaka Nithi County, Kenya. Causal research design and a target opulation of 10 Sacco’s and census survey were used. Secondary data from the Saccos financial statements for the last eight years used. Descriptive and inferential statistics were used with help of Statistical Package for Social Sciences (SPSS) and results presented in tables. A strong positive relationship of 0.984 between debt and ROE was revealed. A negative relationship existed between interest rate, loan tenure and ROE while a positive relationship was revealed between debt equity ratio and interest coverage ratio on ROE respectively. Interest rate, loan tenure and debt equity ratio had significant effect on ROE at t-statistics of 3.474, -2.938, 9.217 and 8.728 respectively with their P-values 0.018, 0.032, 0.000 and 0.000 less than 0.05 respectively.

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