Theses and Dissertations
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Item Influence Of Internal Audit Practices On Performance Of Commercial Parastals Under The Ministry Of Industry, Trade And Cooperatives In Kenya.(KCA University, 2017) Mutirithia, Charles M.The purpose of this study was to examine the influence of internal audit practice on performance of state corporations; with reference to the commercial state corporations under the Ministry of Industry, Trade and Cooperatives. The specific objectives were to determine the influence of governance on performance of state corporations, to determine the influence of risk management on performance of commercial state corporations and to determine the influence of controls on performance of commercial state corporations. In literature review, aspects covered were theoretical reviews, the empirical review and the conceptual framework. The study adopted the methodology that guided data collection approaches. The study design was descriptive research design. The target population was the management staff of the commercial state corporations that was 247 employees. The sampling approach adopted was stratified random sampling, after sampling, the sample size was 74 and response rate was 94.5%. When data collection was done, the data was analyzed by adopting descriptive and regression analysis. The presentations were done by adopting figures, pie charts, graphs and tables. The findings indicated that when all the factors were held constant the performance of commercial state corporations would increase by 0.728 Units. When all the factors were held constant one unit use of risk management increases the performance by 0.368 units. Similarly, when all the factors were held constant one unit use of controls would increase the performance by 0.452 units. This showed that the use of risk management and controls have had a significant influence on the performance of commercial state corporations in Kenya. The research recommends that internal audit practice be supported adequately by all stakeholders in commercial state corporations because they influence significantly performance.Item Factors Hindering The Growth Of The Derivative Market In Kenya(KCA University, 2018) Muchui, Stanley I.A financial derivative is any security whose value is derived from the price of some other underlying asset. Derivatives are in this way considered a vital tool for financial risk management. The transacting in derivative instruments has now become common among institutional investors such as banks, fund managers, insurance companies and other non- financial corporations. However, in as much as the derivative market has been proclaimed as a risk management tool, its growth and reputation has not been widely spoken of as much as other financial instruments traded in Securities exchange institutions in Africa as a whole and Kenya in specific. To this effect the study sought to assess the current factors that hinder the growth of the derivatives market as an acceptable risk management and investment option in Kenya. This study was undertaken in Nairobi, Kenya where findings were based on the derivative market within the Nairobi Securities Exchange. The target population of the study was the employees from trading participants within the NSE dealing in derivative transactions. The researcher adopted a purposive sampling technique to select the sample population for data collection. The researcher collected data through the use of self- administered questionnaires. The set of questions within the questionnaire were comprised of closed and open ended questions. Processing and analyzing of the raw data was done using the data analyses program Statistical Package for the Social Sciences (SPSS) which was used to generate inferential statistics and descriptive statistic and run a regression analysis. The study found that amongst the factors discussed, the regulatory framework and liquidity levels in the capital market significantly hinder the growth of the derivative market in Kenya. The findings of the study show that the derivative market in Kenya has an average to below average growth rate as indicated by majority of the respondents. The reasons provided for this scenario include a regulatory framework that is not able to capture all financial risks in the market and hence protect investors, as well as low level of liquidity characterized by large changes in asset prices. The study recommends that the current framework should be reviewed and standardized so as to capture all inherent risks associated to the derivative market in Kenya. The authorities governing the capital market should also come up with ways that improve speculation and reduce the large changes in asset prices as well as create more channels that can be utilized to increase information about trading in the derivative market