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PORTFOLIO COMPOSITION AND FINANCIAL PERFORMANCE OF INVESTMENT COMPANIES LISTED AT THE NAIROBI SECURITIES EXCHANGE, KENYA

Cheruiyot K. Solomon - Department of Management Science. School of Business, Economics and Tourism, Kenyatta University, Kenya

Dr. Moses Odhiambo Aluoch (PhD) - Department of Management Science. School of Business, Economics and Tourism, Kenyatta University, Kenya

Dr. Peter Ndungu (PhD) - Department of Management Science. School of Business, Economics and Tourism, Kenyatta University, Kenya

ABSTRACT

Stakeholder choices are greatly swayed by potential gains from investment. They generally lean towards opportunities that promise heftier rewards rather than those that offer lower returns. Firms in the investment sector pledged greater profits, but they have yet to uphold their commitment. The downward trajectory in performance observed in investment firms enlisted on the Nairobi Securities Exchange shoulders much of the blame for this. By scrutinizing the interplay between the fiscal performance of publicly traded investment ventures in Kenya and the makeup of investment portfolios, this inquiry sought to furnish a response to this query. The focal point of this inquiry was to assess the influence of distinct asset classes on the profit margins of investment enterprises featured on the Nairobi Securities Exchange. Five investment firms listed on the Nairobi Securities Exchange were the subjects under investigation. To ensure a holistic grasp of the topic at hand, the research melded principles from other theories, including the Modern Portfolio Theory and the Black-Litterman Theory, to appraise a company's holdings. The scrutiny adopted a theoretical model to assess a company's holdings. The examination grounded itself on positivist philosophical tenets and a causal research approach. The quintet of investment enterprises listed on the Nairobi Securities Exchange constituted the intended recipients of this inquiry, which was executed using secondary data procured from the exchange and the websites of the relevant investment firm. The study was slated to commence in 2015 and conclude after an eight-year span, terminating in 2022. To ensure the research was conducted within the bounds of legality and ethics, Kenyatta University and the National Commission for Science, Technology, and Innovation both provided their sanction for the study to gather data. In the data analysis phase, both descriptive and inferential statistics were brought into play. Descriptive statistics, including standard deviation, mean, and median, were presented in tables and charts. In terms of inferential statistics, panel regression analysis and correlation were applied. Prior to executing the panel regression analysis, diagnostic tests were administered to affirm the assumptions of the panel model. The inquiry unearthed a substantial correlation between returns on investment (ROI) and equity fund investments. Financial performance and investments in mutual funds exhibited a modest but constructive correlation. Bond and real estate investments were found to have no appreciable effect on the return on investment for listed investment enterprises. To enhance their financial performance and more effectively mitigate their firm's investment risk, the study recommended that investment company management uphold a well-balanced portfolio of investments. In an endeavor to refine their financial performance, investment firms should give heed to equity investments. This necessitated investing in dependable counters with superior dividend payout and appreciation potential.


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BLENDED LEARNING SYSTEM QUALITY AS AN ANTECEDENT TO COMPLETION RATE AMONG UNIVERSITY STUDENTS: INSIGHTS FROM PRIVATE UNIVERSITIES IN KIAMBU COUNTY

Shadrack Muuo Ngao - Department of Educational Management, Policy and Curriculum Studies, Kenyatta University, Kenya

Dr Gladys Kinyanjui (PhD) - Department of Educational Management, Policy and Curriculum Studies, Kenyatta University, Kenya

ABSTRACT

The introduction of blended learning by combining traditional classroom and online learning has presented immense learning opportunities for university learners in Kenya and beyond. However, despite its growing popularity and demonstrated capability, the completion rate of university students is still below 70%. Moreover, the existing literature is indeterminate on the influence of blended learning system quality on student completion rates in Kiambu County. The purpose of this study was to determine the influence of blended learning system quality on the completion rates of university students in Kiambu County. The study was guided by the Information System Success Model Theory. The study adopted an explanatory sequential research design. Primary data was collected using questionnaires. The target population was all the 7 Private Universities in Kiambu County. Purposive sampling was used to select 139 respondents representing. Descriptive statistics and inferential analysis were used in data analysis. Tables were used to present quantitative data. The study findings revealed that a significant positive relationship exists between blended learning system quality and the completion rate of university students in Kiambu County. The study recommends that all universities private and public should invest in quality blended learning systems to enhance the completion rate of university students. Universities should ensure they use updated technology and train their instructors on the use of online learning resources to improve efficiency. The study contributed to existing literature on blended learning, particularly in the Kenyan context by presenting empirical evidence on the impact of blended learning on student completion rates of university students in Kiambu County which was earlier missing.


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BUDGETING PROCESS AND FINANCIAL PERFORMANCE OF THE COUNTY GOVERNMENT OF TRANS NZOIA, KENYA

Dennis Omina Panyako - Jomo Kenyatta University of Agriculture and Technology, Kenya

Julius Miroga PhD - Jomo Kenyatta University of Agriculture and Technology, Kenya

ABSTRACT

Budgeting process has become a fundamental issue for many organizations. In Kenya, budgeting process is increasingly recognized as a key tool for financial management. Despite the budgeting process, the county governments are still facing financial challenges notably budget deficits, stalled projects and pending bills. This suggests that the process through which the budget is controlled and monitored and evaluated could potentially help determine the financial outcomes of the county governments. It is on this basis that this paper examined the influence of budgeting process on the financial performance of the county government of Trans Nzoia County. The specific objectives were to determine the influence of budget control and auditing and budget monitoring and evaluation on the financial performance of the county Government of Trans Nzoia, Kenya. The paper was guided by the agency theory and employed the correlation design. The target population comprised of the senior and middle level employees drawn from the Finance and Economic Planning Department, Trade, Commerce and Industry Department, Public Service Management and Governance and County Assembly Committees in Trans Nzoia County. Data was collected using the questionnaires and analyzed using both the descriptive and inferential statistics. The results showed that there was a positive and moderate relationship between budget control and auditing and budget monitoring and evaluation and financial performance. 53.5% of the variance in financial performance was explained by budget control and auditing and budget monitoring and evaluation. It was concluded that 41.5% and 36.6% of the variances in financial performance of the county government of Trans Nzoia County were explained by budget control and auditing and budget monitoring and evaluation respectively. The findings may be used to formulating policies pertaining to budgeting process and financial performance in the county governments in Kenya.


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AN EMPIRICAL SURVEY ON THE RELATIONSHIP BETWEEN TACTICAL INFLUENCE AND ORGANIZATIONAL EFFECTIVENESS OF FREIGHT FORWARDING FIRMS IN NAIROBI CITY COUNTY, KENYA

Davies Mutuku Ndonye - Department of Organizational Leadership, Pan Africa Christian University, Kenya

Dr. Eunice Ngina Wandiga - Department of Business Administration & Management, St. Paul’s University, Kenya

Dr. Wilson J. O. Odiyo - Department of Business Studies, Pan Africa Christian University, Kenya

ABSTRACT

Turbulent global markets characterised by uncertainty, heightened competition, shortened product life cycles and shifts in customer preferences have put organizational effectiveness at jeopardy. The impact of changing trends in international trade has been more pronounced especially in the freight-forwarding sector. Unprecedented occurrences have caused a drift from the conventional organizational management to a more dynamic approach that calls for tactical leaders who can assert influence and get things done for effectiveness. Freight forwarding firms in Kenya play a critical role in generating value and revenue. The logistics sector contributed 5.8% of Kenya’s GDP in 2017 and has been increasing ever since. However, logistics performance indices have shown Kenya lagging behind other leading African countries including South Africa, Egypt, and Tanzania. Kenya’s low index is attributable to factors that have continued to impair trade facilitation. This study sought to determine the effect of tactical influence on organizational effectiveness of freight forwarding firms in Nairobi City County, Kenya. The Leader-Member Exchange Theory anchored the study, which adopted descriptive and explanatory research designs from pragmatic philosophical view. The target population was 400 freight-forwarding firms practicing in Nairobi City County, Kenya. Ninety-two firms were selected using simple random sampling technique from which 276 respondents were selected using stratified random sampling technique. Primary data was collected using a structured questionnaire and in-depth interviews. Quantitative data was analysed using descriptive and inferential techniques while qualitative data was analysed thematically. The study found that tactical influence was to a high extent practiced and emphasized. Correlational results revealed that tactical influence had a significant positive correlation (r=0.295, p<.001) with organizational effectiveness while regression results revealed that tactical influence had a significant positive effect on organizational effectiveness. Extracted tactical influence dimensions were found to apply in the freight-forwarding sector. The study concluded that tactical influence had significant effect on the effectiveness of freight forwarding firms in Nairobi City County, Kenya. These findings contribute to the body of knowledge and hold promise for providing a deeper understanding of the link between tactical influence and organizational effectiveness.


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PHILANTHROPIC RESPONSIBILITY AND PERFORMANCE OF TELECOMMUNICATIONS FIRMS IN KENYA

Suleman Mwakuphundza Toyya - Doctor of Philosophy in Business Administration, Jomo Kenyatta University of Agriculture and Technology, Kenya

Dr. Wario Guyo, (PhD) - Jomo Kenyatta University of Agriculture and Technology, Kenya

Dr. Everlyn Datche, (PhD) - Jomo Kenyatta University of Agriculture and Technology, Kenya

ABSTRACT

Empirical studies show that corporate firms make substantial contribution to the political infrastructure and the socio-economic of the developed and the developing countries through corporate social responsibility. However, in the Telecommunication industry, there’s limited literature to show that Corporate Social Responsibility influence the performance of firms. As stated by the Communications Authority of Kenya, telecommunication firms in Kenya spend an estimate of one billion shillings annually on corporate social responsibility. However, some of these firms have shown exemplary growth, while their counterparts’ fortunes have been dwindling over the years. Due to the existing contradictory stance coupled with mixed results on performance of these firms, there is need to determine how philanthropic responsibility influences performance of Telecommunication firms in Kenya. This study used a descriptive research design. The design utilizes the positivism philosophy due to its ease of replication of the findings. The target population was the telecommunication firms in Kenya. The sample size was 393 respondents determined from Yamane’s formula. Stratified random sampling was used to select the respondents to constitute the sample size from each firm. Questionnaire was administered to collect the data from the respondents. This study also carried out a pilot study to test for validity and reliability of the research instruments. Quantitative as well as the qualitative data were gathered, put into code, evaluated using statistical packages for social sciences (SPSS Version 23) computer software, and excel. Descriptive statistic was used to analyse the data in frequency distribution and percentages that were later used to present findings in tables, charts. Inferential statistics was used to analyse data namely, basic and multiple regression analysis. The study found that there was a strong correlation between the performance of telecommunications firms and philanthropic responsibility (r=0.838 and p=0.001<0.05). The study concluded that philanthropic responsibility has a statistically significant influence on performance of telecommunications firms in Kenya. The study deduced that while philanthropy plays a role in financial fluctuations, its influence may not be as pronounced as other CSR dimensions. The study emphasizes the need for strategic considerations in philanthropic initiatives, highlighting the importance of timing and nature in influencing firm performance. Practitioners should also prioritize stakeholder engagement throughout the CSR planning and implementation processes. Actively seeking input from employees, customers, and the local community ensures that CSR initiatives are not only well-received but are also tailored to meet specific needs. This engagement fosters a sense of shared responsibility and enhances the effectiveness of CSR programs.


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