http://41.89.164.27:8080/xmlui/handle/123456789/286 2026-06-19T13:53:59Z http://41.89.164.27:8080/xmlui/handle/123456789/2778 The Moderating Role of Firm Characteristics on the Relationship Between Equity Financing and Financial Performance of Micro, Small and Medium Enterprises in Nakuru County Njoroge, Joseph; Mwengei, Ombaba; Wanjala, Arnold Micro, Small and Medium Enterprises (MSMEs) are important drivers of economic development in many countries and thus is a medium of job creation and poverty alleviation. Although equity financing is increasingly recognized as a sustainable financing option for MSMEs, many enterprises in Kenya continue to experience poor financial performance, with high closure rates reported in urban centers such as Nakuru. Existing studies have explored the direct relationship between financing strategies and performance but have paid little attention to the moderating role of firm characteristics. This study therefore investigates the moderating role of firm characteristics on the relationship between equity financing and financial performance of MSMEs in Nakuru County. The study was informed by the financing life cycle of the firm theory. The study adopted an exploratory research design and targeted 7,384 MSMEs operating in Nakuru County. From this population, a sample of 379 enterprises was drawn using stratified and simple random sampling techniques. Data was gathered using a 5-point Likert scale questionnaire. A pilot study involving 37 MSMEs in Eldoret town was conducted to assess the validity and reliability of the research instrument. Validity was examined through factor analysis, while reliability was tested using Cronbach’s Alpha, with coefficients of 0.7 and above considered acceptable. Data was analysed descriptively and inferentially using SPSS Version 23 and presentation employed bar graphs, tables, explanation and pie charts. Findings revealed that equity financing had a positive and significant effect on MSME financial performance (β = 0.147, p = 0.008). Firm characteristics also had a significant influence on financial performance (β = 0.182, p = 0.000). Moreover, the interaction between equity financing and firm characteristics demonstrated a positive moderating effect on financial performance (β = 0.251, p = 0.000). This implies that firm attributes such as production capacity, managerial competence, and operational factors strengthen the contribution of equity financing to MSME growth andsustainability. The study recommends strengthening MSMEs’ internal financial capacity, promoting equity-friendly financing models, and encouraging profit reinvestment alongside modern management and technology adoption to boost performance and sustainability. 2025-09-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2464 Effects of Budget Planning on Financial Performance of Selected SMEs in Eldoret Town, Kenya Moderated by Digital Finance Services Jepleting, Gladys,; Tarus, John; Shitote, Zachariah The study intention was to investigate effects of budget planning on financial performance of selected SMEs in Eldoret town, Kenya, moderated by digital financial services. Specific objectives of the study were to examine the influence of budget planning on financial performance and effect of digital financial services on financial performance. The study was designed to assess the moderating role of digital financial services on the relationship between budget planning and financial performance of selected SMEs. The research was guided by the Priority-Based Budgeting Theory and Resource Based Theory. The study utilized explanatory research design and descriptive research design. Simple random sampling techniques in collecting data from 302 selected SMEs using structured questionnaires. Cronbach alpha was applied to test reliability while Factor analysis was applied to test validity. Using SPSS version 23 hierarchical regression model was employed in data analysis and testing of the hypotheses. The results reveal that digital finance services had significantly positive relationship between budget planning and financial performance. 2024-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2461 Influence of Green Product Selection Practice on Organizational Performance of Manufacturing Firms in Nairobi County Mutai, Diana; Keitany, Pauline; Bartocho, Evaline Manufacturing firms in Nairobi County would operate with a strong organizational performance achieving high productivity, efficiency, profitability, and quality standards through green product selection practices. A strong organizational culture supports these practices, fostering employee engagement, innovation, and environmental sustainability. However, the sector faces challenges such as limited technical efficiency, declining GDP contribution, and reduced market share. Despite contributing 17.30% of total tax revenue, the sector's technical efficiency is lower. Therefore, the main objective of this study was to establish the influence of green product selection practice on organizational performance of manufacturing firms in Nairobi County. This study was guided by Ecological Modernization theory. This study utilized an explanatory research design. The study targeted 554 procurement managers of all manufacturing companies in Nairobi County. The researcher obtained sample size of 232 respondents using Yamane formulae. The study used stratified random sampling technique to select respondents from manufacturing companies. These research study used structured questionnaires to collect data. Pre-testing of research instruments was achieved through pilot study in manufacturing companies in Nakuru County which have similar characteristics as manufacturing companies in Nairobi County. This assisted in testing for reliability and validity of the research instruments. Collected data was analysed using both descriptive and inferential statistics with the aid of Statistical Package for Social Science (SPSS) version 25. Descriptive statistics included frequency, means, minimum, maximum and standard deviation. Inferential statistics included correlation and regressions models. The study findings revealed that green product selection practice (β1=0.165, p=0.002) had a positive and significant effect on organizational performance of manufacturing firms in Nairobi County. The study concluded that integrating green product selection, enhances manufacturing firms’ performance, cost-effectiveness, and market competitiveness while advancing their environmental and social responsibilities. The study recommends that firms develop a strong sustainability-focused culture, integrate green product, engage with environmental policies and certifications to maximize sustainability performance. 2025-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2459 The Moderating Influence of Enterprise Resource Planning on the Relationship between Electronic Order Processing Systems and Supply Chain Performance of Manufacturing Firms in Uasin Gishu County, Kenya Chepkemoi, Clara; Keitany, Pauline; Shitote, Zachariah Kenyan manufacturing firms face challenges in supply chain performance, including fierce competition, high production costs, and delayed product availability, requiring improved efficiency and cost-cutting strategies. The aim of this study was to investigate the moderating effect of enterprise resource planning on the relationship between electronic order processing system and supply chain performance among manufacturing firms in Uasin Gishu County, Kenya. The study utilized resource-based theory, explanatory research design, a census approach, and a closed ended questionnaire to collect data from 270 heads of 9 departments in 30 manufacturing firms in Uasin Gishu County. A hierarchical regression model was used to test all the study hypotheses. Results of the control variables indicate that firm age (β=.190, P = .021) significantly influences supply chain performance while firm size (β=.101, P=.223) does not. These control variables explain 4.8% of the variance in supply chain performance (R2 of .048). Furthermore, the electronic order processing system (β=.837, P=.000) and enterprise resource planning (β=0.117, P=.003) significantly influence supply chain performance. Finally, enterprise resource planning moderated the link between electronic order processing system and supply chain performance (β=.132, P =.000). This moderation model indicates an improved R2 of .579 and a change in R2 of .083 implying that all the variables in the study account for 57.9% and 8.3% of the variance in supply chain performance. This study contributes to knowledge by examining the interaction of enterprise resource planning and the study variables. The study suggests that manufacturing firms should adopt electronic order processing systems and ERP to enhance supply chain efficiency. In addition, policymakers and managers should develop policies and strategies that encourage investments in these technologies, as they have been found to influence supply chain performance and competitive advantage. 2024-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2453 EFFECT OF RECRUITMENT PRACTICES ON EMPLOYEES’ PERFORMANCE IN PUBLIC UNIVERSITIES IN NYANZA REGION, KENYA Anditi, Philip Duncan; Ngari, Christine; Bartocho, Evaline Employee performance is integral to organizational success, yet public universities in Kenya have faced challenges in achieving satisfactory performance despite implementing human resource management (HRM) practices. This study aimed to investigate the effect of recruitment practices on employee performance in public universities in Nyanza region, Kenya. The target population comprised of 3,129 individuals, and the sample size of 355 teaching and non-teaching staff were determined using the Yamane formula, employing random sampling techniques for data collection. A structured questionnaire was utilized as the primary data collection tool in a quantitative research design. Cronbach's alpha was calculated for each scale in the questionnaire. Data analysis was conducted using both descriptive statistics and inferential statistics with the aid of SPSS version 23. To ensure reliability, the results were as follows: recruitment practices have a significant positive effect on employee performance ((β = 0.165, p<0.05). The study concluded that recruitment practices have a significant positive effect on employee performance. The study recommended that hiring decisions in universities should always be made on the basis of a person’s potential to do a job. The study recommended that hiring decisions in universities should be made on the basis of a person’s potential to do a job. The recruitment process should continue to be done in a transparent manner and the recruitment processes in the universities should keep on being improved to enhance employee satisfaction. The employee selection process should always be done in an ethical manner and in a manner that is fai 2024-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2354 Critical Incident Stress Management and Job Satisfaction among National Police Service Officers Chesang, Lilian; Ngari, Christine; Bartocho, Evaline The purpose of the study was to examine the moderating effect of employee wellbeing on the relationship between critical incident stress management and job satisfaction among the same officers. The study was guided by Two Factor Theory of Motivation. An explanatory research design was employed to explain the cause-effect relationship between the variables. Stratified and purposive sampling techniques were used to collect data from a sample size of 328 respondents derived from Yamane’s formula, with a target population being 1297 police officers using a structured, closed ended questionnaire. A pilot study was conducted in national police service in Nandi County to ascertain validity and reliability of the research instruments. Data collected were analysed using descriptive statistics and inferential statistics. Descriptive statistics were frequencies, percentages, mean and standard deviation. Inferential analysis was carried out through correlation to ascertain the relationships between variables and regression analysis to test the hypotheses. The study findings revealed that critical incident stress management (β1=0.185, p=0.000) had a positive and significant effect on job satisfaction among national police service officers in Uasin Gishu County, Kenya. In addition, results indicated that employee wellbeing moderates the relationship between critical incident stress management (β5= -0.067, p=0.000, R2=.511, ΔR2=.016) and job satisfaction among the national police service officers. The study recommended that the National Police Service (NPS) should enhance mental health services to improve officers' job satisfaction. 2024-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2334 Relationship Between Environmental Cost Disclosure and Financial Performance of Manufacturing and Construction Firms Listed in Nairobi Securities Exchange; The Moderating Effect of Firm Size Malakwen, J. Ruth; Tarus, John Environmental issues have become increasingly prominent, driving the need for companies to operate transparently and responsibly. This study investigated the moderating effect of firm size on the relationship between environmental cost disclosures and financial performance among manufacturing and construction firms listed on the Nairobi Securities Exchange in Kenya. The study was guided by the stakeholder’s theory. Using a combination of explanatory and longitudinal research designs, the study analyzed data from audited annual reports of manufacturing and construction firms from 2014 to 2021. Data was coded into STATA version 17 and analyzed using both descriptive and inferential statistics. Results indicated that financial performance positively and significantly correlated with environmental costs (r=0.460, p < 0.01), firm size (r=0.416, p < 0.01). Also, environmental costs disclosure positively and significantly correlated with firm size (r=0.213, p < 0.05). The study further established that environmental cost disclosure (β =0.1273701, ρ-value <0.05) had a positive and significant effect on the financial performance of manufacturing and construction companies listed in Nairobi securities exchange. Further, the study found that firm size moderated the relationship between environmental cost disclosure (β= 0.0041, ρ<0.05) and financial performance of manufacturing and construction companies listed in Nairobi securities exchange. This result suggests that the impact of environmental cost disclosure on financial performance is indeed influenced by firm size. Managers should prioritize the transparent reporting of environmental costs, as these disclosures have been shown to positively impact financial outcomes. Hence, firms can demonstrate their commitment to sustainability and responsible business practices, which in turn can attract investors and stakeholder trust. 2024-01-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2218 Effects of Budget Planning on Financial Performance of Selected SMEs in Eldoret Town, Kenya Moderated by Digital Finance Services Jepleting, Gladys; Tarus, John; Shitote, Zachariah The study intention was to investigate effects of budget planning on financial performance of selected SMEs in Eldoret town, Kenya, moderated by digital financial services. Specific objectives of the study were to examine the influence of budget planning on financial performance and effect of digital financial services on financial performance. The study was designed to assess the moderating role of digital financial services on the relationship between budget planning and financial performance of selected SMEs. The research was guided by the Priority-Based Budgeting Theory and Resource Based Theory. The study utilized explanatory research design and descriptive research design. Simple random sampling techniques in collecting data from 302 selected SMEs using structured questionnaires. Cronbach alpha was applied to test reliability while Factor analysis was applied to test validity. Using SPSS version 23 hierarchical regression model was employed in data analysis and testing of the hypotheses. The results reveal that digital finance services had significantly positive relationship between budget planning and financial performance. 2024-11-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2215 The Moderating Effect of Self-control on the Relationship between Financial Knowledge and Retirement Planning among Commercial Bank Employees in Eldoret Town, Kenya Cheserek, Gladys; Simiyu, Gabriel; Tarus, John K. Retirement planning is a goal-oriented behavior where individuals devote effort to prepare for their retirement life effectively, thus reducing retirement worry, keeping stress under wraps, and enhancing retirement preparedness and confidence. However, there is little literature about retirement planning among employees working in Kenyan commercial banks. To fill this gap, this study aimed to establish the moderating effect of self-control on financial knowledge and retirement planning among commercial bank employees in Kenya. This study was guided by goal setting,social cognitive, and behavioral life cycle theories. The study adopted an explanatory research design, with data being collected from a target population of 1058 employees of 32 commercial banks in Eldoret town using a closed-ended questionnaire. A sample size of 290 respondents was obtained using Yamane’s formula. The study used simple random sampling techniques to sample the commercial banks, and thereafter the researcher used systematic sampling techniques to select employees as respondents. The study hypotheses were tested using a hierarchical regression model. Results reveal that financial knowledge had a significant positive impact on retirement planning (β =.626, P =.000), confirming that employees with better financial knowledge are more likely to plan effectively for retirement. Similarly, self-control not only directly influences retirement planning (β = .258, P =.000) but also moderates the relationship between financial knowledge and retirement planning (β =.137, P =.000). Results further indicate that the moderation model is a superior model than the direct effect model as it accounts for more variance (60.5%) in retirement planning as shown by R² =.605 compared to 44.9% (R² =.449). This moderation process contributes to new knowledge in literature and theory. These study findings will be helpful to organizations and governments in developing policies and strategies related to retirement systems in the workplace. Limitations and recommendations have also been discussed. 2024-11-01T00:00:00Z http://41.89.164.27:8080/xmlui/handle/123456789/2212 Talent Retention and Competitive Advantage of Star Rated Hotels in Rift Valley and Western Region, Kenya Ayieko, Almah; et. al... The demand for both local and international visitors has seen local investors in the hospitality industry in Kenya jostle for market share. The arrival of the international hotel brands such as Best Western, Pullman and Park-In among others has increased competition as hotels scramble to provide quality products and services to their customers. Consequently, this sought to explore the influence of talent retention on competitive advantage of star rated hotels in Rift Valley and Western region, Kenya. The study was anchored on human capital theory. The study used simple random sampling to select a sample size of 62 respondents. The study adopted a correlational research design and data was collected using a questionnaire and analyzed quantitatively using both descriptive and inferential statistics. Prior to the actual data collection exercise, the study conducted pilot testing which involved both validity and reliability testing. The findings were presented in tables. The findings revealed that talent retention had a positive and significant influence on competitive advantage of star rated hotels in Rift Valley and Western Region, Kenya (P=0.000). The study concluded that hotel's talent retention strategies are generally effective especially enhancing a minimal employee turnover, a positive corporate image, and the use of succession planning and growth opportunities to retain talent. In view of the findings, the study recommends for the strengthening of the internal talent pool by investing in employee development programs. Encourage internal mobility and provide clear career progression paths to retain and motivate top talent. 2024-10-01T00:00:00Z