FINANCIAL RISK MANAGEMENT AND FINANCIAL PERFORMANCE OF FOREX BUREAUS IN NAIROBI COUNTY, KENYA

OLIVIA OTIENO, MICHAEL MAKAU, PhD, LUCY KIRIMA, PhD, FREDRICK OBUNGA
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Abstract

Forex bureaus function in an environment filled with various financial risks that influence their financial performance. These financial institutions, especially in the 21st century, have been faced with multiple occurrences that have culminated to financial risks. The essence of organizations formulating financial risk management approaches was caused by the collapse of reputable businesses such as WorldCom and Enron, and this has helped businesses to cushion themselves and their stakeholders from different financial risks. Financial performance remains one of prominent measures of growth, and organizations have used this measure to attain their objectives. Financial performance in forex bureaus is a numerical indicator for the spread to which financial goals are achieved. The study objectives included; to determine the influence of operational risk management on financial performance of Forex Bureaus in Nairobi County; to establish the influence of credit risk management on the financial performance of Forex Bureau in Nairobi County; to assess the influence of liquidity risk management on the financial performance of Forex Bureau in Nairobi County and to evaluate the influence of market risk management on the financial performance of Forex Bureau in Nairobi County. The target population was 74 Forex Bureau which consisted of CEOs, Managing Directors and Middle Management Staff. Yamane Formula was adopted to arrive at a sample size of 210. The study adopted both primary and secondary data collection method. The study found that there was a relationship between financial risk management and financial performance of forex bureau in Nairobi County. It was clear that there was a positive correlation between financial performance and credit risk management (
肯尼亚内罗毕县外汇局的财务风险管理和财务绩效
外汇局在一个充满各种金融风险的环境中运作,这些风险会影响其财务绩效。这些金融机构,特别是在21世纪,面临着多次事件,最终导致金融风险。组织制定财务风险管理方法的本质是由世界通信公司和安然公司等知名企业的倒闭造成的,这有助于企业缓冲自己和利益相关者免受不同金融风险的影响。财务绩效仍然是衡量增长的重要指标之一,组织已经使用这一指标来实现其目标。外汇局的财务业绩是衡量财务目标实现程度的数字指标。研究目标包括:确定操作风险管理对内罗毕县外汇局财务绩效的影响;建立信用风险管理对内罗毕县外汇局财务绩效的影响;评估流动性风险管理对内罗毕县外汇局财务绩效的影响,评估市场风险管理对内罗毕县外汇局财务绩效的影响。调查对象为74名外汇局职员,包括行政总裁、常务董事及中层管理人员。采用Yamane公式,样本量为210。本研究采用一手资料和二手资料两种收集方法。研究发现,内罗毕县外汇局的财务风险管理与财务绩效之间存在一定的关系。很明显,财务表现与信用风险管理(
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