School of Business & Public Management

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A comparison of two sample approaches to regression calibration for measurement error correction
(International Journal of Statistics and Applied Mathematics, 2023) Kamun, Samuel J; Nyakundi, Cornelious; Simwa, Richard O
This study compares ways for improving regression calibration. This is a method for combining two samples in order to reduce measurement error and improve the relative efficiency of linear regression models. Since two or more samples are more likely than a single sample to accurately represent the population under study, two samples are used in regression calibration to produce a realistic picture of the actual population. In this investigation, we compared independent estimates derived from two samples using a weight equal to the reciprocal of the estimated sampling probability. The study also examined the estimations produced after combining the two datasets into one, and modified the weight of each sample unit accordingly. The most typical application of regression calibration methods is to account for bias in projected responses induced by measurement inaccuracies in variables. Because of its simplicity, this method is commonly utilized. The conditional expectation of the genuine response is estimated using regression calibration, given that the predictor variables are measured with error and the other covariates are assessed without error. Instead of the unknown genuine response, predictors are estimated and used to examine the link between response and result. Regression calibration programs necessitate extensive knowledge of unobservable true predictors. This information is frequently collected from validation studies that employ unbiased measurements of true predictors. The results of two sample strategies were employed and compared in this study. Device fault, laboratory mistake, human error, difficulty documenting or completing measurements, self-reported errors, and intrinsic vibrations of the underlying instrument can all cause measurement inaccuracies. Covariate measurement error has three consequences: In addition to obscuring data features and making graphical model analysis more difficult, estimates of statistical model parameters might be skewed, and effectiveness in detecting correlations between variables can be severely impaired. This study's two sampling procedures produced satisfactory results.
Affirmative action funds and the growth of small and medium enterprises (smes) in Nairobi county
(European American Journals, 2026) Waswa, Fanice N.; Abdi, Ismail A.
Small and medium-sized enterprises (SMEs) are critical drivers of economic growth, yet many face barriers such as limited financing and weak managerial capacity. This study examined the influence of affirmative action funds on SME growth in Nairobi County, focusing on the Uwezo Fund, Youth Enterprise Development Fund (YEDF), and Women Enterprise Fund (WEF). Anchored on growth, human capital, and social capital theories, the study adopted a cross-sectional survey design with a sample of 376 SMEs selected using Yamane’s formula. Data was collected through questionnaires and analyzed using SPSS, applying descriptive statistics, regression, and correlation methods. Findings revealed that all three funds positively impacted SME growth: Uwezo Fund enhanced credit access through group lending, YEDF strengthened managerial skills via training, and WEF provided affordable financing that enabled expansion. The study recommends broadening fund outreach, simplifying access, and integrating mentorship and market linkages to foster inclusive, sustainable SME development in Kenya.
Analysing Volatility Persistence in the Nairobi Securities Exchange: The Role of Exchange and Interest Rates
(Statistics, Optimization & Information Computing Journal, 2025) Mulinge, Anthony; Moyo,Edwin; Jere, Stanley; Kasumo, Christian; Nwokolo, Peter C.; Mwaanga, Clement; Mushala, Wamulume
In this paper, the main objective was to analyse the influence of exchange and interest rates on volatility persistence using asymmetric GARCH models (EGARCH and TGARCH) on NSE data. The analysis of the relationship between stock return volatility, exchange, and interest rates on volatility persistence was performed using the models ARMA (1, 2) -EGARCH (1,1) and ARMA (1, 2) -TGARCH (1,1) under the student t distribution and the generalised error distribution assumption using the NSE daily 20-share price index, interest rates, and exchange rates from 02/01/2015 to 31/12/2024 accounting for 3106 observations. The degree of persistence in the conditional variance equations slightly increased for the ARMA(1,2)-TGARCH(1,1) model and there was a slight reduction for the ARMA(1,2)-EGARCH(1,1) with the inclusion of interest rate and exchange rate which was consistent regardless of the error term distribution assumption. Generally, information shocks increase volatility persistence, and negative shocks have a greater impact than positive shocks. The coefficient of the exchange rate ($\delta_2$) is positive and statistically significant for ARMA (1,2)-TGARCH (1,1). Hence, we deduce that the volatility in the NSE can be explained by the exchange rate, and there exists a positive relationship. Therefore, it is evident that stock returns are positively related to changes in exchange rates. The government should implement policy measures to control the exchange rate, such as real-time disclosure of financial information, trading volumes, and corporate actions, as these affect stock returns.
Antecedents of Brand Loyalty in Leading Supermarket Chains in Kenya: The Mediating Role of Customer Satisfaction
(International Institute for Science, Technology, and Education, 2017) Muturi, Francis M; Omwenga, Jane; Owino, Edward
The purpose of the study was to establish the extent to which customer satisfaction mediates the relationship between service quality, brand image, customer perceived value with brand loyalty in leading supermarket chains in Kenya. The population of interest comprised of customers of supermarkets in Kenya. A supermarket store sample of 30 stores from Nairobi and Nakuru counties was picked at random from the list of the stores of the four main supermarkets (Nakumatt, Uchumi, Naivas & Tusky’s). A sample of 384 customer respondents was interviewed. The study used multiple linear regression analysis in a four step process which established that customer satisfaction significantly affects brand loyalty. The study also shows that customer satisfaction fully mediates the relationship between service quality, brand image, customer perceived value with brand loyalty in leading supermarkets in Kenya. The dimensions of brand Image, service quality and customer perceived value dimensions are antecedent to brand loyalty and are a significant marketing tool for retail stores that wish to enhance the customers repurchase intention and the intention to recommend. A higher level of customer satisfaction leads to brand loyalty which is paramount to being competitive in the marketplace. The study recommends that supermarkets must strive towards increasing customer satisfaction with a view of enhancing brand loyalty and market share retention.
Antecedents of Customer Perceived Value: Evidence of Mobile Phone Customers in Kenya.
(International Journal of Business and Social Science, 2014) Owino, Edward O.
As the mobile phone industry in Kenya gets competitive, customer retention becomes an imperative precursor to firm performance. For this reason, the study was so conceived to examine factors that influence customer perceived value amongst Kenyan mobile phone customers. The study analysed perceived service quality and the perception of price amongst cell phone users. A survey of 400 randomly selected respondents was undertaken. A structured instrument covering background information, customer expectation and customer perception was adopted in primary data collection. The results shows that perceived quality of service and perceived price determine customer’s perception of value. The results indicate the existence of a significant differences exist between what customers expect and what they perceive they experience after a service encounter. Service managers should compete on providing services of high value to gain a competitive edge in this market.
Approximations of ruin probabilities under financial constraints
(Applied Mathematical Sciences, 2022) Simwa, Richard O; Odiwuor, Calvine O; Onyango, Fredrick
In this paper, we investigate the approximate ruin probabilities un-der ﬁnancial constraints (interest rate, inﬂation, and taxation). We formulate a risk process whose premium inﬂow is inﬂuenced by the economic eﬀects of inﬂation and interest rate. Thereafter we invokethe Albrecher-Hipp loss-carried-forward tax scheme from which an ex-act formula for the ruin probability for exponentially distributed claimsis derived. Finally, an explicit asymptotic formula when the claims have sub-exponential distribution is also derived using the Pollaczek-Khintchine formula.
Assessment of Shareholder Strategy – An Internal Corporate Social Responsibility Perspective on Organizational Commitment in Five-Star Hotels in Kenya
(Asian Journal of Economics, Business and Accounting, 2023) Maalim, Bashir M; Kibe, Lucy W; Ndolo, Jackson
In Kenya, Five-Star hotels are leading in employees’ turnover within the hotel industry at 68%. This surpasses the healthy turnover range (0-15%) and affect organizational performance through the high cost incurred to replace experienced workers. Workers’ commitment in an organization plays a vital role in addressing turnover intentions. The objective of this study was to assess the influence of shareholder strategy on organizational commitment in five-star hotels in Kenya. The study applied descriptive research design, cross-sectional approach and quantitative method to examine the study variables. A total of 216 hotel managers in five-star hotels in Kenya was the target population of the study, out of this, 144 hotel managers were selected as sample size in 2021. A self-administered questionnaire was used to collect data and a response rate of 86.8% was obtained. The study applied both descriptive and inferential statistical approaches to analyze data with tabulation, figures and narrative output presentation. The study found that Shareholder Strategy has statistically significant and positive effect and explains 53.1% variation of the Organizational Commitment in Five-Star hotels in Kenya. Empowering the workers with ability for decision-making, problem solving, and planning activities fosters loyalty and commitment which drastically reduces turnover intentions. The study recommends to the hotel management and Kenya Association of Hotelkeepers & Caterers to strive to formulate and implement CSR embedded Shareholder Strategy for raising workers’ Commitment with the aim to attract, motivate, and retain workers. The study suggests replication of the study in the same or other sectors to develop further the Internal CSR field.
Auditors’ Professional Experience and Financial Sustainability of County Governments
(International Journal of Finance, 2026) Kiarie, Anthony N.
Purpose: This study investigated the effect of an auditor’s professional experience on the financial sustainability of county governments in Kenya. Methodology: A descriptive research design was employed, targeting all 47 counties in Kenya. A sample of 123 respondents was selected, and data were obtained through structured questionnaires utilizing a five-point Likert scale. Instrument reliability was verified through a pilot test, yielding a Cronbach’s alpha of 0.7. Data analysis was conducted using SPSS, applying both descriptive and inferential statistics, including multivariate regression and structural equation modeling. Findings: The findings established that auditors’ professional experience exerts a positive and statistically significant effect on financial sustainability. It concludes that sustained investment in auditor capacity-building is vital for improving governance and ensuring long-term financial sustainability within devolved government units. Unique Contribution to Theory, Policy, and Practice: The study extends on the existing public sector auditing and financial sustainability literature by empirically demonstrating, within the Kenyan county government context, the significant linkage between auditors’ professional experience and financial sustainability, while reinforcing legitimacy, stewardship, and inspired confidence theories in public financial management discourse. The study further provides empirical evidence to county governments and policymakers that auditors’ professional experience is a critical governance resource for enhancing financial sustainability, thus justifying greater investment in auditor capacity development, retention, and professional training within devolved units.
Bayesian Model Averaging in Modeling of State Specific Failure Rates in HIV/AIDS Progression
(Mathematics and Statistics, 2022) Simwa, Richard O; Mwirigi, Nahashon; Wainaina, Mary; Sewe, Stanley
In modeling HIV/AIDS progression, we carried out a comprehensive investigation into the risk factors for state-specific-failure rates to identify the influential co-variates using Bayesian Model averaging method (BMA). BMA provides a posterior probability via Markov Chain Monte Carlo (MCMC) for each variable that belongs to the model. It accounts for model uncertainty by averaging all plausible models using their posterior probabilities as the weights for model-averaged predictions and estimates of the required parameters. Patients' age, and gender, among other co-variates, have been found to influence the state-specific-failure rates highly. However, the impact of each of the factors on the state specific-failure was not quantified. This paper seeks to evaluate and quantify the contribution of the patient's age and gender, CD4 cell count during any two consecutive visits, and state movement on the state-specific-failure rates for patients transiting either to the same, better or worse state. We used R Studio statistical Programming software to implement the method by applying BMS and BMA packages. State movement had a comparatively large coefficient with a posterior inclusion probability (PIP) of 0.8788 (87.88%). Hence, the most critical variable followed by observation-two-CD4-cell-count with a PIP of 0.1416 (14.16%), age and gender were the last with a PIP of 0.0556 (5.56%) and 0.0510 (5.10%) respectively for patients transiting to the same state. For patients transiting to a better state, the patients' age group dominated with a PIP of 0.9969 (99.69%), followed by patients' gender with a PIP of 0.0608 (6.08%). Patients' CD4 cell count during the second observation had the least PIP of 0.0399 (3.99%). For patients transiting to a worse disease state, patients CD4 cell count during the second observation proved to be the most important, with a PIP of 0.6179(61.79%) followed by state movement with a PIP of 0.2599 (25.99%), patients gender tailed with a PIP of 0.0467 (4.67%).
Board attributes and sustainability reporting of selected listed nonfinancial firms in anglophone Sub-Saharan African countries: A multinomial logistic regression
(ScienceDirect., 2024) Kariuki, Peter Wang'ombe.; Lewa, Elias Mwasambu.; Gatimbu, Karambu Kiende.
Abstract Resource depletion, social inequality, and climate change are key among the global issues affecting the modern corporate world. Corporate sustainability is a major agenda at corporate boards. Stakeholders are increasingly demanding corporate responsibility in the wake of global resource depletion. Sustainability reporting has been experienced differently in different regions, with emerging economies being adversely stuck. Combating the bearing effects has been difficult due to a lack of synergy among the nations as well as a lack of harmonized corporate disclosure. Understanding the global socioeconomic and environmental concerns requires a close examination of the major determinants of sustainability reporting. Grounded on the agency, stakeholders, and legitimacy theory, this study aims to evaluate the influence of board attributes on sustainability reporting. Using a multinomial logistic regression model, the study assessed 110 nonfinancial firms listed in 10 Sub-Saharan African (SSA) countries from 2016 to 2021. The study analysed the influence of board attributes on sustainability reporting. The result indicates that board size, board meetings, board independence, and board gender diversity have a positive influence on sustainability reporting. The finding provides policy implications and insight into the need for more representative boards with increased gender diversity and independence. Additionally, an optimal frequency of board meetings is needed to strengthen oversight, efficacy, and transparency of sustainability reporting initiatives in SSA. Larger representative board sizes could be rewarded with tax concessions.
Business shared services model as a catalyst of cost reduction in East African Breweries Limited
(Future X Journal, 2023) Nyakundi, Nicholas; Owino, Edward
The business shared services model (BSSM) seeks to integrate service delivery between the headquarters and subsidiaries for the general good. In this paper, the role of BSSM as a catalyst of cost reduction in a manufacturing firm was explored. The predictive power of human resource shared services, finance shared services, logistic shared services, and customer shared services on cost reduction in East African Breweries Limited (EABL) was determined. Using a sample survey of 149 employees, it was established that a BSSM is a positive catalyst of cost reduction in the manufacturing sector in EABL. Adoption of BSSM fosters a distinct culture of collaboration resulting in efficacy in logistics services delivery.
Capital adequacy, competition and liquidity creation of banks; evidence from Kenya
(Emerald Publishing., 2024) Kariuki, Peter Wang'ombe.; Kinini, Dennis Muchuki.; Ocharo, Kennedy Nyabuto.
Abstract Purpose The study seeks to evaluate the effect of capital adequacy and competition on the liquidity creation of Kenyan commercial banks. Design/methodology/approach Unbalanced panel data from 36 Kenyan commercial banks with licenses from 2001 to 2020 is used in the study. The generalized method of moments (GMM), a two-step system, is employed in the investigation. To increase the robustness and prevent erroneous findings, serial correlation tests and instrumental validity analyses are used. The methodology developed by Berger and Bouwman (2009) is used to estimate the commercial banks' levels of liquidity creation. Findings The study supports the financial fragility-crowding out hypothesis by finding a significant negative effect of capital adequacy on the liquidity creation of commercial banks. The research also identifies a significant inverse relationship between competition and liquidity creation, depicting competition's value-destroying effect. Practical implications A trade-off exists between capital adequacy and liquidity creation, which must be carefully evaluated as changes in capital requirements are considered. The value destroying effect of competition on liquidity creation presents a case for policy geared toward consolidating banks' operations through possible mergers and acquisitions. Originality/value To the best of the authors' knowledge, this is the first study to empirically offer evidence concurrently on the effect of competition and capital adequacy on the liquidity creation of commercial banks in a developing economy such as Kenya. Additionally, the authors employ a novel measure of competition at the firm level.
Capital adequacy, risk absorption, and operational efficiency of Islamic in sub-Saharan Africa
(University of Turin, 2026) Njogo, Michael Njoroge.; Korir, Fiona Jepkosgei.; Dallu,Abdallah Mambo.
Abstract This study examines how capital adequacy shapes the operational efficiency of Islamic banks in Sub-Saharan Africa (SSA), with particular emphasis on its role as an internal risk-absorption mechanism rather than a purely prudential stability buffer. Despite its central role in Islamic banking regulation, the efficiency implications of capital adequacy, particularly in developing and institutionally constrained Islamic finance markets, remain largely unexplored. Based on a balanced panel of fully-fledged Islamic banks in SSA from2010to 2024, the paper employs a two-step empirical approach. Bias-corrected operational efficiency scores are estimated in the first stage using the Simar–Wilson two-stage Data Envelopment Analysis (DEA) framework. In the second stage, we explore the non-linear effects of capital adequacy on efficiency using panel regression techniques, controlling for bank-specific and institutional factors. To address endogeneity, persistence, and reverse causality, a dynamic panel model is estimated using System GMM as a robustness check. The findings indicate non-linear relationship between capital adequacy and operational efficiency. Moderate capital buffers are associated with improved efficiency through higher loss absorption capacity and stabilisation of operating costs, while excessive capitalisation is accompanied by scale inefficiencies and less effective intermediation. These results indicate that Islamic banking exhibits an efficiency trade-off in capital adequacy, as prudential strength beyond an optimal level may limit productivity in resource allocation. The study makes an important contribution to Islamic banking literature by reframing capital adequacy as a channel of structural efficiency and by providing rare dynamic evidence from SSA. This raises policy implications and suggests the need for commensurate capital calibration that balances prudential resilience against operational efficiency for emerging Sharīʿah-compliant banking systems.
Catch-up or divergence? Operational efficiency convergence dynamics of Islamic banks in SSA
(SSBFNET, 2026) Njogo, Michael Njoroge.; Korir, Fiona Jepkosgei.; Dallu,Abdallah Mambo.
Abstract This study examines whether Islamic banks in SSA exhibit convergence in operational efficiency or whether performance disparities persist over time. Specifically, it evaluates whether less efficient banks catch up with more efficient peers within the region’s emerging Islamic banking sector. The study adopts a two-stage empirical framework using panel data from 35 Islamic banks across SSA over the period 2010–2024. In the first stage, operational efficiency scores are estimated using a bias-corrected Data Envelopment Analysis (DEA) model following the Simar and Wilson two-stage approach. An input-oriented specification under Variable Returns to Scale (VRS) is employed to reflect cost minimization behaviour and heterogeneity in bank size. Bias correction is implemented using a bootstrap procedure to obtain consistent efficiency estimates. In the second stage, convergence dynamics are analysed using sigma (σ) and beta (β) convergence models, alongside conditional convergence regressions incorporating bank size, age, and market concentration. The results reveal significant β-convergence, with the baseline model yielding a coefficient of −0.267 (p < 0.01), while the conditional model confirms robust convergence (β = −0.2836, p < 0.01), indicating that banks with lower initial efficiency improve at a faster rate than more efficient institutions, consistent with catch-up dynamics. However, σ-convergence results show that efficiency dispersion declined between 2010 and 2019 but increased after 2020, indicating that convergence was time-varying rather than uniform. This suggests that while convergence forces exist, structural differences and external shocks continue to sustain efficiency gaps across banks. The findings highlight the need for stronger regulatory harmonization, improved financial infrastructure, and targeted capacity-building initiatives to accelerate efficiency convergence across Islamic banks in SSA.
Co- creating human- centred climate solutionsthrough challenge- based learning: Insightsfrom Kenya–UK learning and design lab
(British Educational Research Association., 2025) Mwangi, Renson Muchiri.; Muthuri, Judy N.; Kutuk,Gulsah.; Muriithi,Betsy.; Kamere, Grace.; Faßbender, Karina.
Abstract The global climate crisis calls for innovative educational approaches that empower individuals to critically engage with its complexities and inequalities. Climate change education (CCE) is a key strategy to foster the knowledge, agency, and action needed for such engagement, particularly within higher education. Yet, traditional content- driven approaches often fail to address the dynamic and context-specific nature of climate change impacts. This article explores the potential of human- centered challenge-based learning (HCCBL) to promote equitable and inclusive CCE through transdisciplinary co- creation and Global North–South dialogue. We draw on findings from the UK- Kenya University Partnerships: Learning and Design Lab, a British Council project that involved undergraduate and postgraduate students from universities in Kenya and England in the United Kingdom. Sixty (60) university students collaborated in intercultural teams across three labs to co-create solutions for real-world climate resilience challenges identified by three (3) industry partners in Kenya. The findings highlight HCCBL's value in bridging theoretical knowledge and real-world application as well as enhancing students' problem-solving and intercultural competencies. However, challenges such as cultural dynamics, time constraints, and asymmetric travel opportunities underscore the need for adaptive and equitable facilitation. This study positions HCCBL as a transformative pedagogy in CCE that supports co- creation, knowledge exchange, and sustainability leadership among university students in high-vulnerability contexts. It also discusses implications for educators, policymakers, and industry stakeholders who are committed to inclusive, justice-oriented climate action through education
Co-creating human-centred climate solutions through challenge-based learning: Insights from Kenya–UK learning and design lab
(British Educational Research Journal, 2026) Mwangi, Renson M; Muthuri, Judy N.; Kutuk, Gulsah; Muriithi, Betsy; Kamere, Grace; Faßbender, Karina
The global climate crisis calls for innovative educational approaches that empower individuals to critically engage with its complexities and inequalities. Climate change education (CCE) is a key strategy to foster the knowledge, agency, and action needed for such engagement, particularly within higher education. Yet, traditional content-driven approaches often fail to address the dynamic and context-specific nature of climate change impacts. This article explores the potential of human-centred challenge-based learning (HCCBL) to promote equitable and inclusive CCE through transdisciplinary co-creation and Global North–South dialogue. We draw on findings from the UK-Kenya University Partnerships: Learning and Design Lab, a British Council project that involved undergraduate and postgraduate students from universities in Kenya and England in the United Kingdom. Sixty (60) university students collaborated in intercultural teams across three labs to co-create solutions for real-world climate resilience challenges identified by three (3) industry partners in Kenya. The findings highlight HCCBL's value in bridging theoretical knowledge and real-world application as well as enhancing students' problem-solving and intercultural competencies. However, challenges such as cultural dynamics, time constraints, and asymmetric travel opportunities underscore the need for adaptive and equitable facilitation. This study positions HCCBL as a transformative pedagogy in CCE that supports co-creation, knowledge exchange, and sustainability leadership among university students in high-vulnerability contexts. It also discusses implications for educators, policymakers, and industry stakeholders who are committed to inclusive, justice-oriented climate action through education.
Communication as a Driver of Job Attraction and Retention: Evidence from Generation Z Employees in Kenya’s Private Sector
(The International Journal of Humanities & Social Studies, 2026) Waswa, Fanice N.; Wilson, Mukwa R.
This study examines the role of communication as a determinant of job attraction and retention among Generation Z employees in Kenya's private sector. Positioned within a labor market characterized by rapid digital transformation and intensifying competition for talent, the study adopts a qualitative, interpretivist design to explore how communication practices are experienced and evaluated by young employees. Data were collected through semi structured interviews and focus group discussions involving 240 participants across Nairobi, Mombasa, Kisumu, and Eldoret. The findings demonstrate that communication functions as a continuous evaluative mechanism through which employees assess organizational credibility, relational intent, and prospects. Specifically, timely and transparent communication during recruitment enhances organizational attractiveness, while consistent feedback and accessible communication structures sustain engagement and strengthen retention. In contrast, delayed, ambiguous, or hierarchical communication creates uncertainty, weakens trust, and contributes to cumulative disengagement and turnover intentions. The study further shows that digital communication, though efficient, introduces interpretive challenges when misaligned with message complexity. By integrating job attraction and retention within a single communication-based framework, the study extends existing human resource and organizational communication literature and offers practical implications for improving workforce stability in emerging economies.
Competition, risk-taking behavior and stability of commercial banks: evidence from Kenya.
(Emerald Publishing., 2023) Kariuki, Peter Wang'ombe.; Wahinya, Purity Wanjiru.; Ondiba, Rogers Ochenge.
Purpose This study analyzes the effects of competition and risk-taking behavior on the stability of commercial banks in Kenya. Design/methodology/approach An unbalanced panel dataset of 36 licensed commercial banks in Kenya for 2001–2020 was extracted from the published financial statements. A dynamic panel data analysis model, a two-step system generalized method of moments (GMM), was employed. Findings The results indicate that competition reinforces bank stability, whereas banks’ risk-taking behavior has an inverse relationship with strength. Practical implications The study confirms the competition-stability nexus, implying that measures may be implemented to foster competition among banks with reduced concentration. These measures may include, but are not limited to, reduced entry barriers and optimal capital requirements. Second, efforts should be made to ensure excessive risk-taking by banks. Employing an elaborate exposure monitoring system with clear warning signs is recommended. Originality/value This study is unique in several ways. First, it employs structural and nonstructural measures of competition and ex post standards of banks’ risk-taking behavior. Second, contrary to past studies, this study uses various firm-level measures of bank stability. Lastly, it provides essential empirical evidence from the context of a developing economy, whose institutional and macroeconomic environments differ significantly from those of a developed economy.
Constructs of Successful and Sustainable SME Leadership in East Africa
(Research Gate, 2016) Mwangi, Renson M
Despite the markedly increased foreign investment, East African economies remain characterized by low levels of investment and capital formation with high level of attrition among indigenous small and medium enterprises.While there is a high failure rate among these SMEs, some are beginning to turn the corner and are exhibiting signs of robustness, inovetivness and sustainability. Relying on narrative accounts of successful SMEs leaders in Kenya and Uganda obtained through interviews and focus group discussions, this study sought to construct an account of leadership practices and ascription of success for SMEs that had succeeded. The study identified eight leadership constructs characteristic of successful SME leaders in Kenya and Uganda grouped into visioning, building commitment, social capital, personal values, anticipation and resilience, resourcefulness, responsiveness, and entrepreneurial orientation. While these results, on the face value, are apparently not unique, it was in the nuances of the leadership practice that difference was made. In conclusion, the study highlights implications for these findings in relation to policy and leadership practice among SMEs.
Corporate Turn Around Strategies By Financially Distressed Companies Quoted At The Nairobi Securities Exchange
(IISTE, 2014) Waweru, Gabriel; Mbogo, John
Firms that are experiencing financial distress take one action or another in order to turn around their performance. This study sought to find out what turnaround strategies are taken by companies that faced by financial distress. The financially distressed companies generally take actions that are aimed at reducing costs e.g. laying off employees, asset sales and dividend cuts or take actions that are aimed at increasing revenue generation e.g. asset acquisitions in order to improve efficiency. In severe cases of financial distress a company may opt or be forced into liquidation through bankruptcy proceedings. The Kenyan economy under the period of review had mixed results of growing and declining presumably as a result of among others, the global economic crises, the post election violence, loss of investor confidence at the NSE and increased inflation, thus the need to establish the restructuring strategies that the financially distressed companies took in order to turnaround their performance. This study carried out a survey of the companies that were listed for the entire period of the study (2002-2008). Performance of the companies was established by conducting the Z score analysis on each of the companies. The Z score analysis identified 8 companies has having been financially distressed at one point or another during the period of the study. The survey found out that employee layoff was the most preferred course of action being carried out by 63% by the companies. Asset restructuring was the second most preferred turnaround strategy being carried out by 50% of the companies. Debt restructuring and top management change were the least preferred turn around strategies each one of them being taken by one company each. The study also found out that, in the year of distress the restructuring strategies are more intensified and are carried out less intensively in the subsequent years after distress. This may is presumably because of reducing the immediate liquidity problems being faced by the firm.