International Journal of Current Aspects in Finance, Banking and Accounting最新文献

{"title":"Financial Accountability and Sustainability of Microfinance Institutions in West Pokot County, Kenya","authors":"Linus Lokira, Lucy Wamugo","doi":"10.35942/ijcfa.v4i2.255","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i2.255","url":null,"abstract":"In the recent past, there has been a constant demand for timely accountability reports due to increased awareness, devolution of funds and establishment of various new institutions. Financial sustainability of microfinance institutions in West Pokot County in Kenya has been highlighted as a major concern. The main purpose of the study determined the effects of financial accountability on the sustainability of the microfinance institutions in the West Pokot County. The specific objectives were to: determine the effect of audit efficiency on the sustainability of Micro Finance Institutions (MFIs) in West Pokot County; establish the effect of fraud detection on the sustainability of microfinance institutions in West Pokot County; determine the effect of financial reporting on the sustainability of microfinance institutions in West Pokot County; and determine the effect of financial regulation on the sustainability of microfinance institutions in West Pokot County. The study was based on Agency theory, stakeholder theory, and stewardship theory.  The study applied explanatory research design. The target population was the 6 MFIs in West Pokot County. A census was taken since the population is small. The researcher used a semi-structured questionnaire administered to each member of the respondents to collect the data. The collected data was analyzed using descriptive statistics and regression and correlation analysis by the help of SPSS. The results were presented in tables, pie charts and bar charts. From the findings, when financial accountability factors are held at zero, sustainability of microfinance institution will be negative (-0.257). At the same time, an increase in audit efficiency, fraud detection, financial reporting, and financial regulations each by one unit leads to an increase in sustainability of microfinance institutions by 0.276, 0.313, 0.453, and 0.036 units respectively the p-values were also less than 0.05 (that is 0.025 for audit efficiency, fraud detection (0.002), financial reporting (0.005) and financial regulations (0.038). This implies that all financial accountability factors considered in this study have a positive relationship with sustainability. The study concludes that financial accountability is to a great extent observed in MFIs particularly through audit efficiency, fraud detection, financial reporting, and financial regulations. The study recommends that the government through the relevant agents should ensure existing financial accountability regulatory framework is adhered to ensure sustainability of microfinance institutions. Microfinance institutions also should ensure they pay focus on audit efficiency, fraud detection, financial reporting, and financial regulations.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134628650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Influence of Banking Innovations on Financial Performance of Kenya Commercial Bank","authors":"Hillary Magani M’mata, C. Weda","doi":"10.35942/ijcfa.v4i2.251","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i2.251","url":null,"abstract":"Given the importance of financial innovation in describing banking performance, the impact of innovation on performance remains unclear for two reasons: first, there is a lack of understanding of the sources of innovation; and second, the impact of innovation on bank performance has yet to be tested. The researcher aim was to ascertain what exactly affects the financial performance of Kenya Commercial Bank (KCB) in Nairobi County in Kenya. There are numerous elements that affect performance, this study will focus on banking innovations that are thought to drive financial performance. The study was divided into three main common areas that have recently caught the attention of the banking industry namely internet banking agency banking and mobile banking that affect the financial performance of KCB bank Nairobi County. Nairobi County has been chosen since it is the capital City and an epicenter of numerous commercial activities. The study’s specific objectives were to determine the influence of agency banking, mobile banking, Automated Teller Machines and debit and credit cards on financial performance of commercial banks in Kenya. This study was guided by Agency theory and Schumpeter theory of innovation. The study employed a descriptive research design. The study had a target population of 294 respondents. The sample size was 169 staff of KCB bank spread across the branches in Nairobi County. Respondents were selected using purposive random sampling. Structured questionnaires was used to collect primary data from respondents while secondary data was obtained from KCB, Central Bank of Kenya (CBK), Nairobi Stock Exchange (NSE) and annual financial reports from the KCB bank. Measures of central tendencies was used to describe the results and data presented using graphs charts and tables.The effect and influence of in dependent and independent variable was depicted by use of multiple regression. From the findings, agency banking was found to be the most significant factor influencing financial performance with a p-value of 0.00. It can be concluded from the findings that agency banking has a positively relationship with commissions fee based income and positively relates to interest  fee based income. Internet banking positively relates to commissions fee based income and positive relate to interest based income. Internet service has contributed to expansion of the income generating potential of commercial banks. Automated Teller Machine (ATM) system compensates for wrongful deductions and the ATM problems are settled to clients’ satisfaction. Debit & credit cards have had a positive effect of increasing commission fee based income and have influenced positively the increase of interest based income. Further study ought to be conducted on effectiveness of banking innovations on financial performance of other commercial banks since this was a case of KCB bank. This may provide more understanding on how the different banking innovations affect financi","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124721521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Influence of Credit Availability Disbursement on the Level of Savings Among Members of Deposit Taking SACCO’s in Nyeri County","authors":"Serah Nyamweru Karoki, J. Mungai","doi":"10.35942/ijcfa.v4i2.253","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i2.253","url":null,"abstract":"One of the key goals of the SACCO movement is to mobilize savings. However, despite having the largest SACCO sectors in the world, available data shows there is a low personal and household savings rate in Kenya. The majority of Kenyans do not have a savings culture and live each day as it comes. Kenyans are thought to save only 12% of their incomes on average, which is insufficient to support any serious investment in any sector of the economy. The current study therefore sought to assess the influence of credit availability disbursements on the level of savings. This study was guided by the permanent income hypothesis and loanable funds theory of interest. The study adopted a descriptive cross sectional survey research design.  The target population was 156,000 active individual members of the 8 deposits taking SACCOs in Nyeri County. The sample of size was 400 respondents derived purposively. To obtain data, the researchers employed a standardized self-administered questionnaire. A pre-test was undertaken in deposit-taking SACCOs in Murang'a County to determine the instrument's reliability and validity. The data was analyzed using descriptive and regression analysis. In the analysis, the Statistical Package for the Social Sciences (SPSS) version 24 was utilized. Tables were used to present the data. Majority of the members agreed that loan ratio/multiplier was applied when granting credit facility.  The study concluded that there was a positive significant relationship between credit availability disbursements and member’s savings level in the SACCOs. The study recommended that short-term promotional incentives may be one strategy to encourage people to save more, although evidence on their effectiveness is limited. The study recommends to SASRA to accommodate the total savings and deposits when ranking the performance of deposit taking Saccos other than considering only the total assets parameter.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127699722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Public Financial Management Practices and Financial Performance of Mandera County Government, Kenya","authors":"Ali Abdi Yussuf, Farida Abdul","doi":"10.35942/ijcfa.v4i2.252","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i2.252","url":null,"abstract":"According to the auditor general’s report, despite the huge sums of money counties receive, Mandera county government has not been able to meet their recurrent expenditures and revenue collection targets from 2015 to 2020. Past studies indicate that where there are prudent public financial management practices, county governments have been able to meet their mandates. It was therefore vital to empirically test public finance management practices in the Mandera county to establish whether they have a significant role in financial performance. The general objective of the study was to examine the influence of public financial management practices on financial performance of Mandera County Government, Kenya. Specifically, the study assessed the influence of budgeting process, resource management, financial policies and internal audit on financial performance in Mandera County. The study was based on systems theory, new public management theory and allocative efficiency theory. Cross-sectional research survey was applied in this study. Target population was all the 145 county government officers working in the revenue department. Stratified sampling method was used to arrive at a sample size of 95. The study used both primary and secondary data. A questionnaire was used to collect primary data whereas data collection sheet was used to collect secondary data from audited financial reports. Drop and pick later method was applied to administer the questionnaire. The study applied descriptive statistics, correlation and regression analyses to analyze the data collected. SPSS was used to conduct the analysis. Quantitative data analysis entailed computing descriptive statistics including frequency and percentage; measures of central tendency including the mean and the mode; and inferential statistics is including coefficient of determination, analysis of variance and regression analysis. The findings indicate that budgeting process, resource management, financial policies and internal auditing had positive significant effect on revenue collection. The study recommended that the county governments should ensure full employment of public financial management practices through strict adherence to the laid down frameworks in budgetary processes, resources management, financial policies, and internal audit. This would lead to optimal use of the available funds.”","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133472827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategic Financial Practices and Funding Sustainability of Non-Governmental Organizations in Kenya: A Case of Islamic Relief Kenya","authors":"Adankhalif Issack Mohamed, D. Makori","doi":"10.35942/ijcfa.v4i2.248","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i2.248","url":null,"abstract":"Sustainable funding assist various NGO's implements several programmatic interventions that not only assist the societies but will equally improve the living standard. But global funding has been in one way or the other affected by harsh economic times. A number of NGOs are stopping operations every day because they don't have sustainable funding. Many new NGOS are falling into the financial un-sustainability pitfall since they are in operation for a few years and then disappear. NGOS' failure to sustain their work arise from various inadequacies and majorly, the lack of financial resources. The general study objective was to establish the strategic financial practices and funding sustainability of Kenyan NGOs with specific reference to Islamic Relief Kenya. Descriptive research design was adapted. The target population was 224 staffs including the management both top and middle level and operational staff team of the Islamic Relief Kenya in Nairobi. Sixty-seven respondents were picked using stratified proportionate random sampling technique and data obtained by questionnaires. Inferential statistics included regression and correlation. The data variable was factored in the multiple regression model. The study found that own income generation contributed the least followed by income diversification and then financial planning while donor fund management contributed most to funding sustainability of nongovernmental. The study found that income diversification played a significant role as it fuels growth through corporate donor sourcing. The study also found that donor fund management played a significant role as evidenced by the information management which affects most and maintaining regular meaningful communications with their donors. The study further found that financial planning systems played a critical role mostly in preparation of budget control which contributed to financial planning as tool for enhancing sustainability. The study recommends that the NGO should hire skilled and competent staffs so that fair financial planning is achieved, the skilled staffs should have understanding in the areas of financial analysis, implementation of plan and budget control. The management team of NGO should find other ways to increase their income from their current source hence to increase income diversification. Through information management, the organization should ensure enhance communication and accountability to maintain a good relationship with the donors. The management should also participate more in income generating activities to enhance accountability.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"303 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134338328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social Economic Attributes and Tax Compliance by Individual Taxpayers in Kenya","authors":"John Muturi, Farida Abdul","doi":"10.35942/ijcfa.v4i1.232","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i1.232","url":null,"abstract":"Tax revenues are crucial financial resources for any economy and plays a key role in economic development. In Kenya tax revenues are the major source of government budgetary resources besides other sources such as grants and loans. The average GDP growth rate in Kenya from FY 2006/17 to FY 2016/17 has been 5.6 percent which is higher than the global GDP growth rate of 2.3 percent. Conversely, Kenya’s tax revenue has not grown at the same pace as the economic growth. Weaknesses in revenue performance have triggered fiscal pressures. Budget deficits have fueled external borrowing amid efforts for the country to capitalize on domestic resource mobilization. Social economic attributes are crucial with regards to tax compliance by individual taxpayers since individual taxpayers have to be aware as well as being sensitive to tax legislation for them to be tax compliant.  This study was set out to ascertain effects of taxpayer knowledge, tax complexity and individual taxpayer`s characteristics on tax compliance by individual taxpayers in Kenya. The study further sought to ascertain the moderating effect of tax penalties on relationship between social economic attributes and tax compliance by individual taxpayers in Kenya. The study was anchored on Social Learning Theory, Economic Deterrence Theory and Theory of planned behavior. Cross sectional descriptive research design was adopted in this study. This study targeted the individual taxpayers who were registered with KRA. The study targeted on 4806 staff from five Public Universities in Nairobi City County. Researcher used primary data which was gathered through administering questionnaires to respondents. Data collected was analysed using descriptive statistics and multiple regression. The results postulated that tax knowledge had a significant effect on tax compliance by individual taxpayers in Kenya. The study also found that tax complexity had a significant effect on tax compliance by individual taxpayers in Kenya. In addition, individual taxpayer’s characteristics had a significant effect on tax compliance by individual taxpayers in Kenya. Further, the study found tax penalties had a significant moderating effect on the relationship between social economic attributes and tax compliance by individual taxpayers in Kenya. The study found that the taxpayers sought tax consultants to file their returns. The study moreover found that the taxpayers did not seek updates regarding changes in tax law and regulations and were not conversant with Income Tax Act CAP 470. The study therefore recommends that KRA should educate the public regarding to any changes in tax laws and also ameliorate the readability of the tax laws hence reduce the complexity of the tax law. For KRA to achieve their target compliance level, there is need to have taxpayers understand the reasons why need to pay tax on time. KRA should sensitize the taxpayers on the importance of paying tax via civic education.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"29 6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134066615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Socio-Economic Factors and Table Banking Loans Default Levels Among Women Groups in Machakos County, Kenya","authors":"Jeniffer Muendi Muthini, Fredrick W. S. Ndede","doi":"10.35942/ijcfa.v4i1.235","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i1.235","url":null,"abstract":"Defaulting on a loan happens when one fails to make sufficient payments for an extended period. Lenders will deem a loan in default when the borrower haven’t paid the minimum required payment for a certain number of months as detailed in the loan contract. Loan defaults can happen with any type of loan, table banking being one of them. In Kenya as in most developing countries, table banking has been recognized and accepted by development agencies and the government as effective tool for economic development poverty alleviation and industrialization. It’s a proven method for women to spearhead their finances and experience economic perks through organized and calculated means. However, despite of their important role many of these table banking programs have collapsed because of problems in repayment. The general study objective was to investigate the effect of social economic factors on Table Banking loans default among Women in Machakos county, Kenya. The specific objectives were to determine the relationship between level of income, literacy level, borrowing experience as well as household demand and Table Banking loans default level among Women in Machakos County, Kenya. The study design was descriptive with a target population consisting of 22,500 women contained in all the 1500 women groups in Machakos County. A sample size of 384 women group members was selected through simple random sampling technique. Primary data on the selected women from the women groups were collected using structured questionnaires. The response rate was 342 women representing 89 percent. Data was analyzed using frequency distribution, chi-square tests and regression analysis. It was disclosed that there was a negative but significant association between level of income, literacy level, borrowing experience and household demand and table banking loan default level by women in women groups. Demographic factors also had a negative but significant relationship with table banking loan default level among women in women groups in Machakos County. For practice the study recommended that: Firstly, women should engage in extra financial activities to increase their income level. Secondly the uptake of loans should be with the reason of income generation and not necessarily meeting the households’ needs. This will ensure that the loans taken will be regenerated to assure repayment in time and minimize defaulting of the table banking loans. Thirdly the government should enhance entrepreneurship and financial management trainings including incorporating it through formal education. This study focused on socio-economic factors influence on women's default table banking loans, therefore, other influential factors and disciplines should be studied to useful to reduce the defaulting of table banking loans. The study was limited in Machakos County. Low biasness can be attained for all the Kenyan women groups, therefore, a study focusing on other locations and larger spheres of the p","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124334402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Public Participation and Public Finance Management Performance in Embu County Government, Kenya","authors":"Cyrus Fundi Nyagah, Charity W. Njoka","doi":"10.35942/ijcfa.v4i1.236","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i1.236","url":null,"abstract":"The resource absorption rates at the county depicts a situation where all counties did not meet their local revenue target in the fiscal year 2015/16. On average, all the 47 counties achieved 69.3% of their targeted local revenue collection; 19 out of 47 counties (40%), achieved more than 70% of their revenue target in Financial Year2015/16. This is evidenced by governors being summoned at Senate and others who have been impeached due to violation of the Public Finance Management Act 2013, and violation of the County Governments Act 2012. The general objective of the study was to determine the effect of public participation on public finance management in Embu County Government, Kenya. The specific objectives were to examine the influence of communication and access to information, capacity of the public to participate and active involvement on public finance management in Embu County Government, Kenya. The study was guided by five theories including Democratic Theory, Stakeholder Theory, stewardship theory, ladder of participation and Agency Theory. The study adopted an explorative research design.  The unit of observation was Embu County government, and the unit of analysis was a total 12 participants consisting of 1 chief, 1 assistant chief, 5 county officials and 5 village elders from each sub county who are involved in the public participation forum in Embu County. Data was collected using questionnaires and analyzed using descriptive and inferential statistics. The data was then presented in tables and figures. The study found out that the extent at which the identified projects implemented in Embu County was at very large extent, the extent at which the Embu County collect and account for the budgeted internal revenues e.g. parking fees, rates, license fees followed with large extent, the  extent at which the public participation influence public financial management performance in Embu County was moderate, the extent at which the county officials and employees were engaged without following the laid down procedures was least extent. The study also found out that the respondents indicated that the Embu County government use the print media to invite the public-to-public participation forums, Embu County government use the social media (WhatsApp, Facebook and Tweeter) to invite the public-to-public participation forums, the Embu County government use the print media (newspapers and displays at public places) to invite the public-to-public participation forums, the Embu County government use telephone calls (mobile and landline) to invite the public-to-public participation forums. The study further found out that the public participation leader gives everyone a chance to participate during public participation forums, respondents indicated that they consider their profession/education sufficient for effective public participation, the questions asked and responded to during the public forums were satisfactory.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124929412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Investment Decisions and Financial Performance of Deposit Taking Savings and Credit Co-Operative Societies in Nairobi City County, Kenya","authors":"E. Ogum, A. Jagongo","doi":"10.35942/ijcfa.v4i1.233","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i1.233","url":null,"abstract":"It is a requirement for Kenyan SACCOS to conform to regulations set by Sacco Societies Regulatory Authority (SASRA). Deposit Taking (DT) SACCOS are very instrumental towards the financial sector in serving an increasing number of rural and urban households. They are required to submit their statements of financial position, deposit returns statement, investments report, statement of liquidity and capital adequacy return reports. With varying degree of success, DT-SACCOS has invested in non-core business areas. This is especially true of DT-SACCOS which have liberalized their investment portfolios in the wake of competition from commercial banks. This study seeks to examine the impact of investment decisions on the financial performance of DT-SACCOS in Nairobi City County. The specific objectives of the study were to determine the effect of investment in real estate, lending to members for development, FOSA products and money and bond markets on the financial performance of DT-SACCOS in Nairobi City County. The significance of this research is to gain a better knowledge of the nature, breadth and extent to which investment decisions are to be of importance to DT-SACCOS performance. This examination is going to be based on agency, portfolio, liquidity preference and Tobin Q theory of investment. A causal research design of research and a target populace of 40 DT-SACCOS is going to be relied on. In terms of the sample size, all the 40 DT SACCOS are going to be studied. Secondary data matrices were used in collecting data from the finance managers. Adherence to the ethical considerations was also guaranteed at every stage. The study showed that: investment in real estate had an insignificant inverse effect (β= -257.42, p=0.369) on the financial performance of DT-SACCOS in Nairobi City County while investment in lending to members for development had significant positive effect (β=2141.85, p=0.044); investment in FOSA products had insignificant inverse effect (β= -45.86, p=0.617) while investment in money and bond markets had insignificant positive effect (β=547.61, p=0.255) on the financial performance of DT-SACCOS in Nairobi City County. To this effect, the study recommends that DT-SACCOS should increase their investment base on lending to members as they are basically aware of the formative intent of the co-operatives. This means that when more loans are issued to members of the co-operative, they first consider the gains they will get which emanates from these rational investment decisions for their development and hence the financial performance of the DT-SACCOS.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134609893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Working Capital Management and Financial Performance of Small and Medium Enterprises in Garissa County, Kenya","authors":"A. Ahmed, L. Mwangi","doi":"10.35942/ijcfa.v4i1.229","DOIUrl":"https://doi.org/10.35942/ijcfa.v4i1.229","url":null,"abstract":"Small and medium-sized enterprises (SMEs) in the County of Garissa have had a dwindling net profit between 2007 until 2013. Success has been marked by several hurdles that include improper business records, substandard technical competence, illiteracy in matters of finance, and mismanagement of working capital. As a result, the overarching purpose of the study was to investigate the influence of working capital management on the financial performance of SMEs in the Kenyan county of Garissa. The study was motivated by the following specific goals: To assess the impact of inventory management techniques on the financial performance of SMEs, to assess the impact of cash management practices on the financial performance of SMEs, to assess the impact of debtor management practices on the financial performance of SMEs, and to assess the impact of accounts payable management practice. According to the county administration of Garissa, 243 SMEs were targeted. A sample of 149 SMEs were selected using simple random sampling.  According to the county administration of Garissa, 243 SMEs were targeted. Simple random sampling was used to draw a total of 149 SMEs. Secondary data was evaluated using quantitative methods. Tables were used to present the data. According to the study's regression results, accounts receivable management had a minimal influence on return on assets. Inventory management has a major detrimental impact on SMEs' financial performance. Cash management has a beneficial and considerable impact on the performance of SMEs. The study concluded that managers could increase return on an asset through shortening inventory turnover and increasing accounts payable days.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128456560","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}