Faculty of Commerce

Permanent URI for this collectionhttp://172.16.31.117:4000/handle/123456789/29

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    Commercialization of Agricultural Waste Briquette and Charcoal Production Technologies in Baringo and Nakuru Counties, Kenya
    (Egerton University, 2024-09) Onyango Lilian Achieng
    Globally, the choice of an optimal capital structure has posed a great challenge to most firms. In Kenya, some firms have achieved optimum levels while others are still faced with serious capital structure issues. Theoretically, there is a general inclination that capital structure employed automatically affects financial performance. It is against this background, that the study sought to establish the effect of capital structure on financial performance, moderating effect of firm characteristics and mediating effect of corporate governance on the relationship between capital Structure and financial performance of non-financial firms listed in Kenya. The specific objectives were: to establish the effect of capital structure on financial performance; establish the moderating effect of firm characteristics on the relationship between capital structure and financial performance; examine the mediating effect of corporate governance on the relationship between capital structure and financial performance; and determine the joint effect of capital structure, firm characteristics and corporate governance on financial performance. The study was grounded on Modigliani and Miller Irrelevance Theory, Trade-off Theory, Pecking Order Theory and Agency Theory. The sample size of the study consisting of 33 (thirty-three) non-financial firms from 2009-2018 were selected using purposive sampling procedure. Longitudinal and cross sectional research designs were used organized as panel data. Data analysis was done using descriptive and inferential statistics aided by STATA software. The findings revealed that: first, capital structure (composite score) had a significant effect on financial performance; secondly, firm characteristics had no moderating effect on the link between capital structure and firm performance; thirdly, corporate governance mediates the link between capital structure and financial performance; lastly, capital structure, firm characteristics and corporate governance had a joint effect on firm‟s performance. The study brings out an increased understanding on the link between capital structure and financial performance, the use of moderating and mediating variables with prudence so as to achieve optimum financing portfolios. Finally, the study recommends the following; first, the Nairobi Securities Exchange and Capital Market Authorities to ensure financial and corporate governance policies are adhered to; secondly, the government of Kenya should create an enabling environment for investors to increase their asset portfolio and size; and lastly; there should be a synergistic effort by stakeholders to uphold, strengthen and encourage good corporate governance in listed firms in Kenya
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    Capital Structure, Firm Characteristics, Corporate Governance and Financial Performance of Non-Financial Firms Listed At Nairobi Securities Exchange in Kenya
    (Egerton University, 2024-09) Chirchir Francis Kipkoech
    Globally, the choice of an optimal capital structure has posed a great challenge to most firms. In Kenya, some firms have achieved optimum levels while others are still faced with serious capital structure issues. Theoretically, there is a general inclination that capital structure employed automatically affects financial performance. It is against this background, that the study sought to establish the effect of capital structure on financial performance, moderating effect of firm characteristics and mediating effect of corporate governance on the relationship between capital Structure and financial performance of non-financial firms listed in Kenya. The specific objectives were: to establish the effect of capital structure on financial performance; establish the moderating effect of firm characteristics on the relationship between capital structure and financial performance; examine the mediating effect of corporate governance on the relationship between capital structure and financial performance; and determine the joint effect of capital structure, firm characteristics and corporate governance on financial performance. The study was grounded on Modigliani and Miller Irrelevance Theory, Trade-off Theory, Pecking Order Theory and Agency Theory. The sample size of the study consisting of 33 (thirty-three) non-financial firms from 2009-2018 were selected using purposive sampling procedure. Longitudinal and cross sectional research designs were used organized as panel data. Data analysis was done using descriptive and inferential statistics aided by STATA software. The findings revealed that: first, capital structure (composite score) had a significant effect on financial performance; secondly, firm characteristics had no moderating effect on the link between capital structure and firm performance; thirdly, corporate governance mediates the link between capital structure and financial performance; lastly, capital structure, firm characteristics and corporate governance had a joint effect on firm‟s performance. The study brings out an increased understanding on the link between capital structure and financial performance, the use of moderating and mediating variables with prudence so as to achieve optimum financing portfolios. Finally, the study recommends the following; first, the Nairobi Securities Exchange and Capital Market Authorities to ensure financial and corporate governance policies are adhered to; secondly, the government of Kenya should create an enabling environment for investors to increase their asset portfolio and size; and lastly; there should be a synergistic effort by stakeholders to uphold, strengthen and encourage good corporate governance in listed firms in Kenya.
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    Bayesian interval estimation and predictive analysis in a nonhomogeneous poison process with delayed s-shaped intensity function
    (Egerton University, 2024-09) Otieno Collins
    In the 21st century, software reliability is a significant issue as computers are the most preferred system in almost every global sector. A software is reliable if it can perform its functions for a specified period under specified conditions without causing system failure. A software neither wears out nor burns out and does not fail unless flaws within cause a failure in its dependent system. As such, software reliability testing is performed in the development phase to correct the flaws within the software. Among the non-homogeneous Poisson processes (NHPP) software reliability growth models (SRGMs) proposed and used in software reliability assessment is the Delayed S-shaped model with two unknown parameters 𝛼 and 𝛽, that must be estimated. Most research works have fitted the model to software failure data and obtained point and interval estimates of the unknown parameters using the Maximum Likelihood Estimation (MLE) and Bayesian approaches. However, the construction of Bayesian credible sets for the parameters of this model and the comparison of their accuracy with the traditional Wald confidence intervals based on simulation has not been explored. Predictive analysis on the model has been explored using the Bayesian method with gamma-distributed informative prior. More optimal methods can be developed based on the priors assigned to the unknown parameters to enhance accuracy in modifying, debugging, and determining when to terminate software testing processes. This study introduced a non-informative prior given by 1/αβ and also used 1/α prior existing in the literature and gamma-distributed informative prior to construct Bayesian credible intervals, compare them with Wald confidence intervals using interval lengths and coverage probabilities, and perform predictive analysis. Markov Chain Monte Carlo (MCMC) via Metropolis-Hastings (MH) within Gibbs was used to sample the parameters from their respective conditional posterior distributions. Bayesian approach was also used to address four prediction issues closely associated with software reliability testing. The issues have been outlined as Propositions I, II, III, and IV for the case of non-informative priors, and I.1, II.1, III.1, and IV.1 for the case of the informative prior. The study found that the Bayesian method with gamma-distributed informative and 1/αβ priors yielded more precise interval estimates than the Wald confidence intervals. Moreover, the study developed methods for addressing the outlined single-sample prediction problems and illustrated them using secondary software failure data. The methods developed in this study can be used in software quality assessment
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    Non-audit services, audit quality, and fraudulent financial reporting among listed firms in NSE, Nairobi, Kenya
    (Egerton University, 2024-09) Muhenje, Faith
    The NSE firms contribute highly to national economic growth thus if fraudulent reporting is left without being detected, it will highly affect the public just like the Anglo leasing effects that are still being experienced in Kenya. This research sought to examine the relationship between Non-audit service, audit quality and fraudulent financial reporting among listed firms in NSE. The specific objective was to establish the effect of Non-audit service on fraudulent financial reporting, the effect of Audit quality on Fraudulent Financial reporting and lastly to establish the joint effect of Non Audit service, Audit Quality and Fraudulent Financial reporting among firms listed in NSE. The study used a descriptive research design with a study population of 63 as listed by NSE 2023 and a Census survey was adopted. The researcher targeted the appointed internal auditors from each firm as the respondents. The data was of primary nature where 57 closed ended questionnaires were dropped and picked for analysis while the 6 questionnaires were used in pilot study. The data collected was run via SPSS software. Quantitative method of analyzing data that is descriptive statistical method where the statistical tools such as mean, mode and standard deviation was adopted. Inferential statistic such as simple and multiple regression models was used to predict the relationships among the variables. Findings on the first objective showed that non audit service has positive and insignificant effect on fraudulent financial reporting. On the second objective, findings showed that audit quality positively but significantly affect the fraudulent financial reporting among firms listed in NSE. Finally, the joint effect Non-Audit service and Audit quality have positive and statistically significant effect on fraudulent financial reporting among firms listed in at a minimum of 95% confidence level. The study recommends that further research be conducted on other factors not covered under this study; that contribute to fraudulent financial reporting to assist in uncovering fraudulent financial reporting. The study is significant to investors, portfolio managers and other market players to make the best decisions in regard to the investments. The study is also significant to those charged with governance to ensure there is production of quality financial statements.
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    Transforming masculinities in the context of emerging family crisis: the case of selected faith-based organisations in Nakuru County
    (Egerton University, 2020-07) Nduati, Samwel Kiuguini
    Faith-Based Organisations (FBOs) are transforming masculinities in the context of family crises facing the modern family. This is because despite global, regional and national efforts by Governments and other agencies the incidences of family crises such as GBV, separation and divorce still persist. A growing body of literature links negative masculinities with family crises. Specifically this study sought to explore how Kenya Anglican Men Association (KAMA) and Presbyterian Church Men Fellowship (PCMF) in Bahati Sub-County are transforming negative masculinities to attain a vision of having a gender-equitable man. The study utilized case study and ex post- facto research designs. The target population was 928 registered members of 14 FBOs (KAMA & PCMF) in Bahati Sub-County. Stratified random sampling procedure was used to obtain a sample size of 181 respondents. By including all the 14 clergy as key informants and 14 lay leaders who formed Focused Group Discussions (FGDs), the total sample size obtained was 209. Data collection instruments used were a Questionnaire, Interviews and FGD schedules. The instruments were pilot tested in the neighboring Nakuru town Sub-County. The types of validities which were used in this study included; face and content validity. Reliability of the instruments was tested using Cronbach’s Alpha test which gave acceptable reliability coefficients of, α = 0.80, α = 0.62 and α = 0.84 for the questionnaire, FGD Guide and interview schedule respectively. Descriptive and inferential statistics, specifically ordered logistic regression and Pearson chi square were used for analysis, with the help of Statistical Package for Social Sciences (SPSS) version 20 for windows. Descriptive statistics was presented in frequency tables, charts and mean scores. Results showed that at 5% significance level, all categories of masculinities had a significant relationship with incidences of family crises (Hegemonic, p = 0.02, Complacent, p = 0.01, Subordinate, p = 0.04, and Marginalised, p = 0.00). At 5% significance level approaches of transforming masculinities had a significant relationship with the vision of transforming masculinities to have a man who respects women (use of dialogue among men, p = 0.00, use of leaders’ counsel, p = 0.00, use of gender champions, p = 0.00, use of preaching and Bible study, p = 0.00). In this regard the study recommends that FBOs, Ministry of Public Service, Youth and Gender and the County Governments to introduce programmes which will sensitize the public on the importance of transforming masculinities to mitigate the impact of incidences of family crises on the modern family.
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    Transforming masculinities in the context of emerging family crisis: the case of selected faith-based Organisations in Nakuru County
    (Egerton University, 2020-07) Nduati, Samwel Kiuguini
    Faith-Based Organisations (FBOs) are transforming masculinities in the context of family crises facing the modern family. This is because despite global, regional and national efforts by Governments and other agencies the incidences of family crises such as GBV, separation and divorce still persist. A growing body of literature links negative masculinities with family crises. Specifically this study sought to explore how Kenya Anglican Men Association (KAMA) and Presbyterian Church Men Fellowship (PCMF) in Bahati Sub-County are transforming negative masculinities to attain a vision of having a gender-equitable man. The study utilized case study and ex post- facto research designs. The target population was 928 registered members of 14 FBOs (KAMA & PCMF) in Bahati Sub-County. Stratified random sampling procedure was used to obtain a sample size of 181 respondents. By including all the 14 clergy as key informants and 14 lay leaders who formed Focused Group Discussions (FGDs), the total sample size obtained was 209. Data collection instruments used were a Questionnaire, Interviews and FGD schedules. The instruments were pilot tested in the neighboring Nakuru town Sub-County. The types of validities which were used in this study included; face and content validity. Reliability of the instruments was tested using Cronbach’s Alpha test which gave acceptable reliability coefficients of, α = 0.80, α = 0.62 and α = 0.84 for the questionnaire, FGD Guide and interview schedule respectively. Descriptive and inferential statistics, specifically ordered logistic regression and Pearson chi square were used for analysis, with the help of Statistical Package for Social Sciences (SPSS) version 20 for windows. Descriptive statistics was presented in frequency tables, charts and mean scores. Results showed that at 5% significance level, all categories of masculinities had a significant relationship with incidences of family crises (Hegemonic, p = 0.02, Complacent, p = 0.01, Subordinate, p = 0.04, and Marginalised, p = 0.00). At 5% significance level approaches of transforming masculinities had a significant relationship with the vision of transforming masculinities to have a man who respects women (use of dialogue among men, p = 0.00, use of leaders’ counsel, p = 0.00, use of gender champions, p = 0.00, use of preaching and Bible study, p = 0.00). In this regard the study recommends that FBOs, Ministry of Public Service, Youth and Gender and the County Governments to introduce programmes which will sensitize the public on the importance of transforming masculinities to mitigate the impact of incidences of family crises on the modern family.
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    Gendered evaluation of poverty reduction policies, projects and their implementation approaches in Baringo north sub-county, Baringo county, Kenya
    (Egerton University, 2016-10) Chesikaw, Lilian R.
    Poverty has been a critical challenge the world over. Huge amounts of resources and expertise have been invested in poverty reduction policies and projects to address Poverty. Globally, women are more vulnerable to the effects of poverty compared to men and this stifles the wheels of development. Apparently Poverty Reduction Policies through Community projects have significant impacts on poverty. However, there has been a growing concern about the roles that men and women play and their impacts on Poverty. To unpack this scenario, this study therefore sought to evaluate Poverty Reduction Policies and Projects and their Implementation Approaches in Baringo North Sub-County, Baringo County, from a gendered perspective. The study targeted project beneficiaries, implementers and key respondents as the main constituents of the sampling frame. The study’s objectives were: to establish the awareness levels of project beneficiaries on the policies and projects implemented, to examine the roles played by the project beneficiaries in the planning and implementation of those policies and projects, to determine the difference in roles played by the project beneficiaries in the implementation of the projects and, to find out the challenges facing the implementation of the projects, all from a gendered perspective. The study is predicated on the Rights -Based Theory that envisages equal rights in participation and benefits. To achieve these objectives, the study used random sampling in the selection of the study sample. Out of 6000 households in two selected wards thirty percent was drawn which was 1800 from which, a sample of a ten percent was used for the study totaling to 180 which included; household heads, community leaders, the sponsors and the District Development officer. The study utilized both qualitative and quantitative methods in data collection. They were; structured household questionnaires, secondary documents, interview schedules and Focus Group Discussions (FGDs).Data obtained was analyzed using Statistical Package for Social Science (SPSS) Version 22.0.Analysis used descriptive and inferential statistics and frequencies and percentages. The findings of the study revealed that individual awareness and participation at the various stages of the project cycle was dependent on their gender. The findings showed Poverty Reduction Policies were gender blind and that men took over most of the influential positions in projects. It also showed that the implementation processes were marred with corruption, nepotism and patronage. That there was no sustainability mechanisms after the project cycle hence their impacts were temporary and unfelt. Following this, the study recommends that the government should institute policy measures to prevent marginalization of women in community development projects and to ensure that Policies are gender inclusive. Community members should be involved from project initiation to the end