Finance Research Papers/Topics

The Effect Of Integration On Investment Portfolio Diversification In East African Stock Exchanges

ABSTRACT The purpose of this study was to analyze the effect of integration on stock market investment portfolio diversification in East African stock exchanges. The study was based on the Nairobi Securities Exchange, Dar-es-salaam Stock Exchange and Uganda Securities Exchange with the target population of all the companies whose common stocks were traded over the sample time period. Covering a period of 100 months between January 2000 and April 2008, the researcher analyzed the pair-wise ind...

Effect Of Bank Size And Financial Risk Exposure On Financial Performance Of Commercial Banks In Kenya

ABSTRACT The study sought to establish the effect of bank size and financial risk exposure on financial performance of commercial banks in Kenya. The specific objectives of the study were: to determine the effect of bank size on financial performance of commercial banks in Kenya; to establish the effect of financial risk exposure on financial performance of commercial banks in Kenya; to determine the moderating effect of macroeconomic variable on bank size and financial performance of Commerc...

Financial Ethics And Investor Confidence Among Members Of The Nairobi Securities Exchange, Kenya

ABSTRACT Ethics has been a momentous consideration in many professions including business, politics, medicine, law, and almost every other area of our society. In order for investors to delve into financial markets, there is a need for intermediaries to act in a fair manner and bound by legal regulations co-ordinated with financial ethics. Investor confidence, which is speculative in nature has changed in imperative ways through time and these changes have significant consequences for financ...

Effect Of The Pricing Of Foreign Exchange Risk On Stock Returns At Nairobi Securities Exchange, Kenya

  ABSTRACT The exits of purchasing power parity stipulates that different countries differ in prices for goods when a common digit is applied and therefore, random changes in exchange rate has often been implicated to be the key cause of fluctuations in prices leading to more risk in the assets pricing models. This implies that Exchange rate is a crucial variable that affect both the international competiveness of both multinationals and investor’s wealth as they participate in internati...

Effect Of Electronic Commerce On Output And Total Factor Productivity In Kenya

ABSTRACT Kenya seeks to transform into a middle-income country by 2030 with target annual growth rates of 10 percent. However, this target has not been realized since growth rates are under 10 percent while 36 percent of the population lives below the poverty line. While this has been interpreted as an underperformance by various studies, this study attempted to show that the economic growth witnessed in the years 2007 to 2018 pointed to a resilient economy characterized by an average steady...

Bank Characteristics And Financial Performance Of Lower Tiers Commercial Banks In Kenya

ABSTRACT The lower tier commercial banks in Kenya have been recording declining performance over the recent past especially in the wake of tight regulatory controls and shifting operating environment. Poor financial performance has cost several lower tier banks dearly to the extent that some had to be put under receivership. Recently in the financial year 2017, most banks in tier II and III posted poor financial results with previous superb performers posting big losses. To thrive, the commer...

Government Expenditure And Sectoral Economic Growth In Kenya

Kenya is currently implementing the Second Medium Term Plan of Vision 2030. Growth objectives underpinning the Vision 2030 required the rate of growth of the economy to have risen from 6.1% achieved in the year 2006 to 10% in the year 2012. However, the economy recorded only 4.5% and 5.7% growth in the year 2012 and the year 2013 respectively. Even so, the government has continually spent substantial amounts of money annually to finance key Sectors in implementing Vision 2030 flagship pr...

Fundamental Risk Factors And Profitability Of Commercial Banks In Nigeria

ABSTRACT Commercial banks undertake significant roles in the economic resource allocation of countries. The financial intermediation roles performed by banks are however largely dependent on profitability. The fluctuating profitability trend of commercial banks in Nigeria is bringing about high concerns among various stakeholders. The study sought to assess the effect fundamental risk factors on profitability of commercial banks in Nigeria. The specific objectives were to establish the effect...

Effects Of Human Resource Management Practices On Financial Performance Of Selected Agricultural Firms In The Sugar Industry

ABSTRACT Human resources are the source of achieving competitive advantage because of its capability to convert the other resources (money, machine, methods and material) in to output (product/service). The competitor can imitate other resources like technology and capital but the human resource are unique. People are one of the most important factors providing flexibility and adaptability to organizations. People (managers), not the firm, are the adaptive mechanism in determining how the fi...

Financial Management Practices And Financial Performance Of Non Financial Firms Listed At The Nairobi Securities Exchange Kenya

Some firms listed at the Nairobi Securities Exchange, in the non-financial sector, have continued to record poor performance as evidenced in declining share prices. This study sought to establish the effect of financial management practices on financial performance of non-financial firms listed at the Nairobi Securities Exchange. The independent variables of the study were liquidity, Capital budgeting and Leverage. The main objective of the study was to establish the effect of financial ...

Itax Adoption Determinants And Value Added Tax Compliance Among Large Corporate Taxpayers In Kenya

i-Tax is the new system that has been developed by the Kenya Revenue Authority (KRA) to ensure online submission of tax returns and other taxation related transactions. Despite the increasing need to raise the level of revenue collection and enforcement so as to provide public services, developing countries still face the challenges of low tax compliance. This leads to frequent tax reforms aimed primarily at closing short-term revenue gaps. The Kenya Revenue Authority presented the i-tax...

Financial Risks Analysis And Performance Of Commercial Banks In Kenya

ABSTRACT Commercial banks in Kenya often record inconsistent financial performance with some ending up under statutory receivership due to inability to meet their commitments to the stakeholders. Central Bank of Kenya usually put sound risk management guidelines to be followed by all the commercial banks yet losses are experienced in the banking sector. This study sought to investigate the effects of financial risks on performance of Commercial banks in Kenya. Specifically, the study sought t...

Firm Characteristics And Revenue Efficiency Of Selected Insurance Companies In Kenya

ABSTRACT Revenue efficiency is recognized as a major ingredient in sustainable growth in insurance business. The growing complexity in the insurance business characterized by the constant change in the operating environment has increased the significance of the effect of revenue efficiency in resource utilization in the sector. The continuous decline in revenue efficiency in the Kenyan insurance has affected profitability and sustainability of insurance companies. The main objective of this s...

Derivative hedging and performance of non-financial firms listed in the Nairobi securities exchange, Kenya.

ABSTRACT Derivatives have been in the use by firms for the longest period. Some firms use them for trading or speculation purposes while others use them purely for hedging purposes. Despite the usage of derivatives by non-financial firms, their performance has been varying. In Kenya, listed non-financial firms use derivatives for hedging purposes while financial firms use derivatives for both speculation and hedging purposes. Contrary to the greater growth opportunities and tighter controls ...

Devolution And Its Effects On Foreign Direct Investment In Kenya

ABSTRACT Over time globalization has created investment opportunities for enterprise worldwide and as a result today foreign direct investment is regarded as the major source of foreign capital for developing countries. There are numerous benefits of foreign direct investment for emerging economies which include technology spillovers, enables human capital formation, improvement of international trade integration, helps create a more competitive business environment and improves enterprise d...


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