Financial performance of an organization is one of the major concerns of any business venture because without financial performance, organizations cannot survive especially in a decentralized system and the going concern is not guaranteed. The importance of liquidity management as it affects corporate financial performance in today’s business cannot be overemphasized. The crucial part of managing working capital is required maintaining its liquidity in day-to-day operation to ensure its smo...
ABSTRACT Micro and Small Enterprises have a huge responsibility of promoting economic development of many nations in the world today. However, in third-world countries, sector has recorded poor performance even though they take a huge fraction of local businesses. It has been established that approximately 80% to 90% of MSEs collapse their operations within a decade. However, studies from developed nations find financial management practices to contribute immensely to MSEs’ unfavourable bus...
ABSTRACT Accounts receivable represents money owed to a business in return for goods already delivered or services already rendered. Proper maintenance of accounts receivable helps an organization maintain customer loyalty, track customer credit and uncollected profits. However, many organizations nowadays encounter numerous challenges in regard to their invoicing and accounts receivable process. Embu Water and Sanitation Company limited operate in conditions which limit its ability to maximi...
ABSTRACT Kenya’s economic policy stance since 1966 has been to keep interest rates under control so as to promote monetary stability. Economic growth and inflation averaged 4.4 per cent and 10.2 per cent, respectively, in the period 1963 to 2016. However, despite the growth rate of the economy and moderate inflation rates, managing interest rates remained a major macroeconomic policy concern. The lending rates and deposit rate responded to interbank and treasury bill rates changes but with ...
ABSTRACT Public participation not only gives the public the opportunity to air their views but also a chance to engage the government on matters that concern them most and influence policies to be undertaken, when, where and how they will be implemented. Accountability is an important tool in ensuring a government is responsive to the public. A responsible government not only explains the use of public resources to her citizens but goes an extra mile in ensuring its programs serve public inte...
ABSTRACT Employment opportunities have been the most significant priority by the Kenyan Government, where various policies have been put in place to cater for it. Economic growth is reckoned to be essential since a positive growth rate will encourage inward investment and improve revenues, which can be spent on long-term public sector works. However, youth unemployment is a consistent problematic element in Kenya, affecting the economy to a large extent. The general objective of this study wa...
ABSTRACT Financial management in KTDA managed factories is concerned with ensuring funds are available when needed and that they are obtained and used in the most efficient and effective way to the benefit of the shareholders. Financial performance of KTDA managed tea factories in terms of service delivery continue being poor as depicted by low sales revenue and low profitability in most factories. There has been an issue of delay of the supply of services due to mismanagement of funds i...
ABSTRACT In December, 1924-, at the ..nnual U.ongress !eet in! of the Suid Afrikaanse On~erwysers Unie a p~per was read by Dr . H. Cruse on "Intelligt.nce Tests an:l their application to the School.a" . Aa a result of this paper it was decided to a ppoint a Committee to attempt to standardise tests for pupils in South African schools , since no set of tests from any one country can • be adeq_uately a dopted in any- other co untr~ in view of the vast differences existing in raci al and clima...
ABSTRACT Globally, the past two years have been successful years in oil and gas exploration with discoveries almost doubling those made in 2017.1 Notwithstanding Africa’s endowment in vast natural resources, including substantial oil and gas reserves, one of the most dramatic finds in Africa has been Mozambique’s natural gas developments. Mozambique is set to become one of the largest and most dominant natural gas finds in the world. These developments have attracted the attention from c...
Abstract Active vs passive management is a central debate within asset management, with active managers promising superior market beating performance after fees through their superior knowledge and stock selection. This study investigates the performance of 34 South African property unit trusts over multiple periods between 2005 and 2018. Fund performance was evaluated using three risk-adjusted measures, namely the Sharpe ratio, information ratio and Jensen’s alpha, in order to determine w...
ABSTRACT Microfinance institutions services have continued to play a vital role in Zimbabwean economy. It is viewed as the provision of financial services to the poor and low income group. Microfinance Institutions in Zimbabwe have gained wide recognition since 1990’s for the role they play in providing financial services to low income households, and their contribution to poverty alleviation. Despite this crucial role, the interest rate charged by the MFIs in Zimbabwe have been relatively ...
ABSTRACT The study was motivated by the growing innovation in the financial system in recent times. Though the move for innovation in the Ghanaian context has been slow relative to the advancements in developed economies, its impact in bank profitability and efficiency cannot be over emphasized. Hence, this study took the challenge to study the effect of bank innovation on Ghanaian banks’ profitability and efficiency between 2013 and 2017. The study employed a quantitative research approach...
ABSTRACT The study sought to analyze the effect of exchange rate movements on Ghana’s economy (macroeconomic variables); it investigates the relationship these variables have in determining the stability of foreign exchange rate in Ghana, that is, the pricing of the Ghanaian domestic currency relative to the dollar in the context of macroeconomic variables. From different angles and aspect, this study is intended to add to related literature; provide new theoretical arguments and a comprehe...
ABSTRACT This study aimed at evaluating the effects of competition on cost efficiency in the Sub-Saharan African (SSA) banking sector. The study also evaluated how competition affects bank cost efficiency in the various income classifications of countries in SSA. Due to the endogeneity issue between competition and cost efficiency, a two-stage least square method was employed to examine the data of 235 banks from 17 SSA during the period 2006-2012. The results of the study show evidence that ...
ABSTRACT Non-performing loans refers to credit facilities which have gone bad and pose profitability problems to banks. Banks in their daily operations, especially in their credit functions seek to identify risks pertaining to credits under consideration and/or management in order to prevent them from crystallizing into bad debts in their books. In this study, FBNBank Ghana Limited is used as a case study to identify the unique bankspecific factors and customer-specific factors that are con...