International Journal of Banking, Accounting and Finance最新文献

{"title":"FINANCIAL RISK AND FINANCIAL PERFORMANCE OF COMMERCIAL BANKS LISTED IN THE NAIROBI SECURITIES EXCHANGE IN KENYA","authors":"Winnie N. Mwangi, J. Ong’era, J. Matanda","doi":"10.47604/ijfa.1663","DOIUrl":"https://doi.org/10.47604/ijfa.1663","url":null,"abstract":"Purpose: The objective was to determine the relationship between financial risk and financial performance of listed commercial banks in Kenya. \u0000Methodology: Descriptive research design was adopted in the study. The target population of the study was formed by all the twelve listed commercial banks as at December 2021. Secondary data was utilized in the study. This secondary data was acquired from published financial statements of the listed commercial banks in Kenya for the period 2015 – 2020.  Data obtained was analysed using descriptive and inferential statistics. Further, data analysis was conducted using STATA software. The results obtained were then summarized using tables and charts. \u0000Findings: The study found that credit risk, liquidity risk, market risk and operational risk explain 31.42% of financial performance of the listed commercial banks. Credit risk has a positive significant effect on financial performance of the listed commercial banks, while market risk and operation risk have negative and significant effect on financial performance of the listed commercial banks. Liquidity risk was found have positive insignificant effect on financial performance of the listed commercial banks. \u0000Unique contribution to Theory, Practice and Policy: The study recommends that the banks should increase their secured loans portfolio, manage the liabilities of the company and ensure sustainable growth of the company assets and finally, the listed commercial banks should manage their expenses to a level that is sustainable. The credit risk theory and liquidity preference theory may be used to anchor future studies in the listed commercial banks.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81689814","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 MANAGEMENT ACCOUNTING INFORMATION SYSTEMS ON THE FINANCIAL PERFORMANCE OF DEPOSIT TAKING SACCOS IN WESTERN REGION, KENYA","authors":"Imoitet Opuko, P. Ojera, Maniagi G. Musiega","doi":"10.47604/ijfa.1654","DOIUrl":"https://doi.org/10.47604/ijfa.1654","url":null,"abstract":"Purpose: The study sought to investigate the influence of management accounting information systems on the financial performance of Deposit taking Sacco’s in western region, Kenya \u0000Methodology: The study adopted descriptive explanatory research design, 7 deposit taking SACCOs from western region with a total population of 61 employees in the management positions. Data was collected using questionnaires and analyzed through inferential statistics which involved testing of hypotheses using simple correlation regression model at 95% confidence level, multiple and hierarchical and descriptive statistics were also used, which included the use of frequencies and percentage. Data was presented by use of tables and figures. \u0000Findings: Findings of the study showed scope of MAIS had positive beta coefficient (β1=0.409, p=0.017) indicating that MAIS scope has significant influence on the financial performance of Deposit Taking Saccos Western Region, timeliness of MAIS had positive beta coefficient (β2=0.415, p=0.008 suggesting that MAIS timeliness has significant influence on the financial performance of Deposit Taking Savings and Credit Co-Operative Societies Western Region, aggregation of MAIS had positive beta coefficient (β3=0.329, p=0.021) revealing that MAIS aggregation has significant influence on the financial performance of Deposit Taking Saccos Western Region and integration of MAIS had positive beta coefficient (β4=0.392, p=0.010) indicating that there is significant influence of MAIS integration on the financial performance of Deposit Taking Saccos Western Region. \u0000Unique contribution to theory, practice and policy (recommendation): The study recommended that Deposit taking Sacco’s implement Management Accounting Information System in their operational framework as it would lead to improved financial performance.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75470526","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":"Quoted Equity Investments and Financial Performance of Pension Funds in Kenya","authors":"Roba Boyante, W. Muturi, M. Gekara","doi":"10.47604/ijfa.1645","DOIUrl":"https://doi.org/10.47604/ijfa.1645","url":null,"abstract":"Purpose: This study is inspired by the need to investigate the contribution of quoted equity to financial performance of pension funds in Kenya \u0000Methodology:  The study used a descriptive research design with data collection form used to gather secondary data. The target population for this study was 1,258 registered schemes as per RBA as of 31 December 2021. The sample consisted of 294 registered schemes. Secondary data was obtained from the Retirement Benefits Authority (RBA) for the study variables for the six-year period between 2016- 2021. The data was subjected to diagnostic tests and analyzed using multiple linear regression method. \u0000Findings: Regression results on the influence of quoted equity on the performance of pension funds shows that the coefficient had a negative and significant impact on performance of firms, p value 0.000 which was smaller than 0.05 level of significance. This shows that quoted equity had a negative impact on the performance of firms. In addition, 16.6% of the variation in performance of firms is explained by quoted equity. The study findings echo policy discourses suggesting that quoted equity investments may be riskier and therefore need for increased risk premium to cushion investors against increased risks \u0000Unique Contributions to Theory, Practice and Policy: The study validates the modern portfolio theory whose premise is selection and construction of asset portfolios to maximize the portfolio expected return and the concurrently minimize the attendant risk. The study can help policy makers such as Retirement Benefits Authority (RBA) in Kenya review investment ceilings imposed on quoted equity The trustees and fund managers can use the study findings to determine proportion of quoted equity investments in the investment policy that is optimal given risk characteristic of quoted equity as an asset class.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84186682","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":"Moderating Influence of Portfolio Rebalancing on the Relationship between Asset Allocation and Financial Performance of Pension Funds in Kenya","authors":"Roba Boyante, W. Muturi, M. Gekara","doi":"10.47604/ijfa.1644","DOIUrl":"https://doi.org/10.47604/ijfa.1644","url":null,"abstract":"Purpose: This paper examined the moderating influence of portfolio rebalancing on the relationship between asset allocation and financial performance of pension funds in Kenya. \u0000Methodology:  The study used a descriptive research design with data collection form used to gather secondary data. The target population for this study was 1,258 registered schemes as per RBA as of 31 December 2021. The sample consisted of 294 registered schemes. Secondary data was obtained from the Retirement Benefits Authority (RBA) for the study variables for the six-year period between 2016- 2021. The data was analyzed using multiple linear regression and subjected to diagnostic tests. \u0000Findings: The study findings revealed that portfolio rebalancing had a significant moderating influence on all the variables except guaranteed funds which was not significant. This is expected since return on guaranteed funds is fixed (minimum guarantee) and therefore, the return on investors’ funds will remain constant overtime even with portfolio rebalancing of the fund’s asset under management. The study findings resonate with policy discourses suggesting that active portfolio rebalancing may yield better returns to members through proactive management of portfolio risks. \u0000Unique Contributions to Theory, Practice and Policy: The study validates the modern portfolio theory whose premise is selection and construction of asset portfolios to maximize the portfolio expected return and the concurrently minimize the attendant risk. The study can help policy makers such as Retirement Benefits Authority (RBA) in Kenya review investment ceilings imposed on different asset classes which restrict the range of asset allocation strategies available to those charged with pension fund asset management responsibilities by establishing quantitative limits on investment, typically by asset class. The trustees and fund managers can use the study findings to ensure adoption of an optimal mix of different asset classes that can maximize member’s returns.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88993572","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":"Factors Influencing Saving Behaviour of Nigerians","authors":"Nenubari John Ikue, Ph.D, Joseph Denwi, Charles Ariolu, A. Musa, Ibimna Ikemenjima","doi":"10.47604/ijfa.1626","DOIUrl":"https://doi.org/10.47604/ijfa.1626","url":null,"abstract":"Purpose: This paper is motivated by the dearth of domestic savings required for inclusive economic growth in Nigeria. The paper examines the impact of financial literacy and socio-economic factors on Nigerians saving behaviour. Methodology: The models are estimated with linear probability and probit estimators. There are three categories of variables in the models; the independent variables, which are the computed scores of financial literacies; control variables, which are the measures of demographic and socioeconomic factors and; the dependent variables, which are the measures of frequencies of saving in three financial institutions in Nigeria. Findings: Our finding resonates with policy debates suggesting that improving Nigerians knowledge about finance and financial services would foster Nigerians saving behaviour. We observed also that households with 1 – 4 persons have tendency to put away more money as savings. The paper documented that the optimum household size for accelerating saving is 5-6 persons beyond which enforces financial exclusion or dissaving, among others. Unique contributions to theory, practice and Policy: This paper provide fresh evidence on the influence of the newly financial literacy scores variables designed by the National Bureau of Statistics (NBS) on Nigerians saving behaviour. It equally, expanded the saving literature by considering differently level of household sizes to explained Nigerians saving behaviours. Consequent on the findings the paper suggested that the Federal Government of Nigeria in collaboration with the States governmant reenforce the National Financial Inclusion Strategy framework and include a finance course to be made mandatory and taught at all levels of education in Nigeria. The paper also suggested a rethink on the Nigerian population policy to an aggressive campaign on family planning aimed at reducing fertility level to about 2 – 3 children per family.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73471771","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":"EFFECT OF RIGHTS ISSUE, BONUS ISSUE AND STOCK SPLIT ANNOUNCEMENTS ON SHARE RETURNS OF FIRMS LISTED IN NAIROBI SECURITIES EXCHANGE","authors":"N. Maingi, F. Waweru","doi":"10.47604/ijfa.1614","DOIUrl":"https://doi.org/10.47604/ijfa.1614","url":null,"abstract":"Purpose: The objective was to find out the effect of rights issue, bonus issue and stock split announcements on share returns of firms listed in Nairobi Securities Exchange. \u0000Materials and Methods: Event study research design was used in the study.  Target population comprised all companies in the Nairobi Securities Exchange register that announced bonus issue, rights, and stock split from 2014 to 2020. There were 6 companies which announced rights issue, 17 companies which announced bonus issue and 2 companies which announced stock splits. The study employed event study methodology whereby collection of secondary data was done for 30 days before and after respectively for each bonus issue, rights issue and stock split announcement. Statistical bias was eliminated by using normality and autocorrelation tests there after the Mean Adjusted Return Model was used in determining expected returns and abnormal returns. \u0000Results: In all the companies there were abnormal returns which prove that the announcements had an effect on share returns, Sixteen companies witnessed increase in abnormal returns while nine firms witnessed decline in abnormal returns following the announcements. To whether the effects were significant null hypothesis postulating that the announcements had significant effect on share returns of firms listed in Nairobi Securities Exchange was accepted for twenty four firms and rejected for one firm. The conclusion was that right issue, bonus issue and stock splits announcements have a significant effect on Share returns. \u0000Unique contribution to theory, practice and policy: The study recommendations include that; the Nairobi Securities exchange should support research by providing data free of charge for interested researchers. The Capital Markets Authority and NSE should educate investors on the investment opportunities available and this will increase local investors in the bourse, currently most investors are foreigners. NSE and CMA should beef up surveillance in the market so as to curb insider trading especially when companies are about to make any form of corporate announcements.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87943636","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":"ROLE OF INSURANCE IN AGRICULTURAL LENDING","authors":"Ben Kajwang","doi":"10.47604/ijfa.1602","DOIUrl":"https://doi.org/10.47604/ijfa.1602","url":null,"abstract":"Purpose: This paper examines the role of insurance in providing loans for agricultural sector. There are many agricultural hazards that cannot be insured on a financially sound basis; nonetheless, there is room for enhanced insurance coverage of farm assets, of the life and health of individuals living in rural areas, and of certain specific dangers that affect crop and livestock production. \u0000Methodology: A desktop literature review was used for this purpose. Relevant seminal references and journal articles for the study were identified using Google Scholar. The inclusion criteria entailed papers that were not over 5 years old. \u0000Findings: The insurance framework in agricultural lending that has been presented calls for the participation of policymakers and implementers in addition to marketing channels and micro users. Agricultural insurance penetration based on the research of both the demand and supply side and it might be used as a tool for lowering the level of physical risk. \u0000Unique Contribution to Theory, Policy and Practice: It is necessary to have experts, researchers, and extension agents step up their guidance and supervision efforts. Because it was difficult to discover a source of long-term funding or sponsorships, international and regional technical assistance, expertise, and financial support were urgently required.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76463671","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":"Moderating Effect of Liquidity Risk on the Organisational Culture, Working Capital Management and Innovation towards Firm Performance","authors":"Gulkiz Kurban, Hussen Nasir","doi":"10.47604/ijfa.1572","DOIUrl":"https://doi.org/10.47604/ijfa.1572","url":null,"abstract":"Purpose: The propose of this study is to investigate the moderating effect of liquidity risk on the relationship between organizational culture, working capital management and innovation towards firm performance. \u0000Methodology: Total of 311 questionnaire were distributed in order to test the relationship between the independent and dependent variables. Questionnaire were distributed and collected with self-report and with google forms. This study also used Statistical Packages for the Social Science (SPSS) to test the hypothesis of this study. A total of six hypotheses were distributed in this study. \u0000Findings: As a result, out of six hypothesis, three hypothesis were tested as positive and three hypothesis tested as negative. \u0000Unique Contribution to Theory, Practice and Policy: It also suggests that firms need to consider liquidity risk as a strategic step that needs to be taken into account. The first implication of the theory is that this study has contributed resourced-based theory.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83665987","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":"THE IMPACT OF MICRO FINANCING ON WOMEN: A BRIEF REVIEW OF THE LITERATURE","authors":"Chintu Mazakaza, C. Odoyo","doi":"10.47604/ijfa.1565","DOIUrl":"https://doi.org/10.47604/ijfa.1565","url":null,"abstract":"Purpose: To assess how women entrepreneurs have been impacted by microfinance. \u0000Methodology: Brief review of the literature. \u0000Findings: Microfinance has been one of the development tools used to empower disadvantaged women entrepreneurs.  The microfinance sector is increasingly being seen to be lucrative and the recent profit focus by new players in this sector and the effects of the COVID 19 pandemic are likely to reduce the social performance gains.  \u0000Unique contribution to theory, practice and policy:  There is theory that access to microfinance by women leads to women empowerment, improved livelihoods and decision making. The literature review supports the theory but also highlights that microfinance on its own cannot succeed without addressing other socio economic challenges such as gender violence. Future studies needs to take an in-depth view of the socio economic challenges and how they can be mitigated once women are empowered.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90184754","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":"Pension Fund’s Risk Management Investment Portfolio in Tanzania","authors":"M. L. Bukwimba","doi":"10.37284/ijfa.1.1.712","DOIUrl":"https://doi.org/10.37284/ijfa.1.1.712","url":null,"abstract":"The study intends to assess the risk exposure of assets from the pension funds investment portfolio and suggest possible solutions of mitigating the risk of severe loss that is likely to occur over a given period of time. The study engaged secondary data of annual return series from five individual assets which are Government Securities (GSs), Fixed Deposits (FDs), Corporate Bonds (CBs), Equities and Real Estates (REs) with the total number of 18 observations. In order to achieve the objectives of the study, the author applied the Generalized Auto-Regressive Conditional Heteroskedasticity (GARCH) model and Cornish-Fisher expansion model for data analysis to calculate Value at Risk (VaR) for individual assets in Pension Funds investment portfolio from the financial year 1998/1999 to 2016/2017. The results from both techniques employed indicated that, Corporate Bonds (CBs) has the highest Value at Risk (VaR) followed by, Fixed Deposits (FDs), Equity, Real Estates and Government Securities (GSs). There were some renovations in the social security industry in Tanzania as among the approaches to combat risk that avails with minimal effects in the operationalization of Pension Funds, therefore the findings of the study are relevant to help pension funds in Tanzania to mitigate the risk of strict loss that is likely to occur in their investment portfolio due to market fluctuations over a given period of time.","PeriodicalId":53549,"journal":{"name":"International Journal of Banking, Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85731069","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}