Management Science

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    The Influence of the Entrepreneur’s Open Innovation Strategy on Firm Performance: Empirical Evidence From SMEs in Kenya
    (IGI Global, 2019-10) Macharia Chege, Samwel; Wang, Daoping
    This article helps identify the main factors influencing the performance of small and medium agribusiness enterprises in Kenya. The study proposes five research hypotheses, each tested on a sample of 150 agribusiness enterprises using multiple regression analysis. The results show that the use of external partners, such as scientific research establishments and commercial consultants, influences the firm’s performance. This influence is moderated by factors like internal capabilities and the firm’s degree of openness to innovation.
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    Technological Factors and Utilization of Formal Financial Services by Smallholder Farmers in Kenya
    (science publishing group, 2019-07-16) Wabwire, Joseph Masinde
    Financing agriculture has become a critical service in enabling the full realization of the agricultural sector’s potential. The allocative efficiency of financial services provided by financial institutions in Africa to the agricultural sector remains low. Further, several institutions aimed at facilitating small holder farmers’ access to credit have failed to deliver it at the right time and in the right proportions. Nevertheless, in the advent of new financial regimes and innovations such as financial technology, the uptake and utilization of financial services among the small holder farmers in Kenya was expected to increase. This, however, has not been the case. Hence this study which sought to determine the influence of technological factors on the utilization of formal financial services among small holder farmers. The target population for this study was small holder farmers from Nakuru, Busia and Kirinyaga Counties in Kenya. A study sample size of 496 small holder farmers was obtained through purposive and stratified random sampling techniques. Data was collected using researcher developed questionnaire. Quantitative data was analyzed using multiple linear regression analysis with the aid of stata. The findings revealed that technological factors did not have any significant effect on utilization of formal financial services among small holder farmers. This was because the farmers were yet to appreciate and fully take advantage of technology enabled financial services to increase their levels of inclusion. From the findings of the study, the recommendations were that at the national level, policy makers should encourage more investment in the digitalization of small scale farming activities so as to encourage more technology adoption.
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    EFFECT OF CASH MANAGEMENT ON FINANCIAL PERFORMANCE OF DEPOSIT TAKING SACCOS IN KENYA
    (International Journal of Social Science and Economic Research, 2021-02) Thuita, Jane Mumbi; C.K., Sitienei
    This study sought to determine the effect of Cash management on financial performance of deposit taking SACCOs in Kenya. The objective of the study was to determine the effect of cash management on financial performance of deposit taking SACCOs in Kenya. The study employed a descriptive research design to study the population of 135 deposit taking SACCOs licensed in Kenya by 2013 where purposive sampling was used in selection of the research sample. The selected sample consisted of 56 among the 135 registered deposit taking SACCOs whose five years’ data from 2013-2017 was employed in determining the effect of Cash management on financial performance of deposit taking SACCOs in Kenya. The data was obtained from the audited financial statements of respective SACCOs lodged with SASRA and were available in the regulator’s website. Two linear regression models were employed by the researcher to bring out the effect of Cash management on financial performance. The significance of independent variable was tested using t- test while the overall significance of the model was tested using Ftest at 5% level of significance. The study established statistically significant positive effect of cash management on both ROA and ROE with coefficients of 0.332 and 0.505 and p-values 0.001 and 0.001 respectively. The study concluded that deposit taking SACCOs should increase their cash levels since it impacted positively on financial performance. The findings of this study would be important to policy makers such as SASRA and SACCO directors in planning on their Cash holding levels.
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    Nurturing the Industrial Economy Through Enterprise Education: The Case of Kenyan Universities
    (IGI Global, 2021) Mugambi, Mercy Muthoni; Miriti, Gilbert Mugambi
    In recognition of the importance of ensuring adequate supply of highly educated workers, many countries have expanded and reformed their educational programmes. Despite this, many manufacturing companies are struggling to recruit. Employers have to recruit and organize for trainings to bridge skill gaps. This raises questions on the preparedness of human resource with regard to supporting economic development in countries. It is also a wakeup call for universities to reexamine the kind of education propagated through systems in their countries. The chapter presents ideas on concept of enterprise education, role of university education in nurturing industrial economy, theoretical base for enterprise education, designing curriculum for enterprise education, strategies for incorporating enterprise education in university curriculum, available opportunities for universities to embrace enterprise education, and the likely challenges. The final part of the chapter presents progress by universities in embedding enterprise education and implications for educational theory and practice.
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    The Effect of Initial Public Offer Announcements on Market Returns of Listed Stocks at the Nairobi Stock Exchange
    (2013-03) Gitau;, Njuguna, Amos; Masinde;, Wabwire, Joseph; George;, Owuor,; Onyuma, Samuel
    Initial Public Offers (IPOs) attract much attention in World stock markets. The IPOs do not go unnoticed in emerging markets since they are focal points, particularly if listed alone, and stirs the whole market. As such a single large IPO can have a significant effect in a less developed market. In Kenya, several studies have been undertaken in the past on stock price response to earnings announcements, the effects of election period on stock returns at the Nairobi Stock Exchange, the information content of annual reports and accounts of companies listed at the Nairobi Stock Exchange .However, these studies focus on specific issues that may impact the market returns. Consequently, there is lack of information on the extent to which IPOs influence market returns at the Nairobi Stock Exchange (NSE) as well as exogenous factors that may have influenced the market return. Therefore, this study sought to evaluate the effects that IPO announcements had on the market return of listed stocks at the NSE. In addition, the study assessed the effects of the turnover and volume traded on the market return. The study incorporated all the seven recently floated IPOs at the NSE between January 2006 and March 2009. The main results from the fitted linear regression model showed that all IPOs had a significant effect on the market return. In particular, Co-op bank, KenGen, and Volume traded had a negative effect while the remaining IPOs, elections and turnover had a positive impact on the market returns. The magnitude of these effects ranged from –0.126 to 0.172. This study also employed logistic regression to evaluate the effect of the IPO announcement within the 60-day window period on the market index. The study found that all IPOs had positive a significant influence on the market return except Eveready and KenGen. The findings of this study contribute to the current knowledge on how the IPOs announcements, turnover, and traded affects market return. This will be a source of valuable information to the capital Markets Authority, Nairobi Stock Exchange as well as investors for decision making, legal and Policy formulation.
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    Effects of Compensation on Job Satisfaction Among Secondary School Teachers in Maara Sub - County of Tharaka Nithi County, Kenya
    (Science Publishing Group, 2015) Muguongo, Mary Makena; Muguna, Andrew T.; Muriithi, Dennis K.
    Abstract: Compensation plays an important role in determining employees’ job satisfaction. According to Bozeman & Gaughan (2011), the perception of being paid what one is worth predicts job satisfaction. Teachers in Kenya have always downed their tools lamenting about their compensation which raises concern about their job satisfaction. However it is not clear the influence compensation has on teachers job satisfaction to cause the many stand offs. This study therefore sought to establish the effects of compensation on job satisfaction among Secondary school teachers in Maara Sub- County Tharaka Nithi County Kenya. The objectives of the study were to determine the effects of both financial and nonfinancial compensation on job satisfaction. The study employed a descriptive survey research design. Stratified random sampling was used to select a sample size of 214 teachers drawn from the target population of 474. Responses were collected through administration of questionnaire. The validity and reliability of the questionnaire was enhanced through a pilot study carried out in three schools in Meru South Sub-County. To ensure the validity of the instruments, both face and content validity was used. Data collected was categorized coded and then tabulated using SPSS. The qualitative data was analyzed using descriptive statistics, means frequency tables and percentages. The hypotheses were tested using chi-square. The study established that the basic pay, allowances and work environment affects teachers’ job satisfaction to a great extent. The research concluded that teachers were highly dissatisfied with all aspects of compensation that they receive. The study recommends that the government reviews the teachers’ compensation to commensurate the services rendered. It is hoped that the findings of this study could assist the education planners in formulating compensation policies that would enable teachers to achieve job satisfaction.