EFFECT OF FINANCIAL INVESTMENT STRATEGIES ON THE FINANCIAL SUSTAINABILITY OF UNIVERSITIES IN KENYA
Janet A. Chumba - Department of Business Administration, Jomo Kenyatta University of Agriculture and Technology, Kenya
Prof. Willy Muturi - Department of Economics, Accounting and Finance, Jomo Kenyatta University of Agriculture and Technology, Kenya
Dr. Josephat Oluoch Oluoch - Department of Business Administration, Jomo Kenyatta University of Agriculture and Technology, Kenya
ABSTRACT
This study assessed the effect of financial investment strategies on the financial sustainability of universities in Kenya. The specific objectives were to establish and critically evaluate the effect of the following two strategies of investments on the financial sustainability of universities in Kenya: investment strategy and consultancy strategy. Descriptive and cross-sectional co-relational survey design was used. Study population comprised of all 71 universities in Kenya; the study targeted 142 respondents consisting of 71 DVCs in charge of finance and 71 Finance Officers from each university. Findings from the descriptive analysis indicated that with regard to investment strategies, the fact that universities had invested in real estate ranked the highest (M = 4.69, SD = 0.4641), while the idea that universities had invested in catering services ranked the least (M = 3.55, SD = 0.8041). Consultancy had the highest mean of (M = 3.6, SD = 0.9382) for the idea that universities had specialized experts in different fields. Study findings therefore provide crucial insights as to the need to embrace various resource strategies for resource mobilisation to boost the financial sustainability of universities in Kenya.