Research Papers

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    Effects of Debt Financing on Financial Performance of Small and Medium-Sized Enterprises in Homa Bay Town, Kenya
    (THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2021-12) Kelvin Otieno Okelo; Dr. Micah Nyamita; Dr. Alphonce Odondo
    The SMEs in Kenya account for 98% of businesses and create about 30% of jobs annually. Many SMEs face challenges of a stable financing cycle, and are unable to adjust to sales cycles that are available in the market, hence affecting their financial performance. Although SMEs have numerous accesses to debt financing in Kenya, they still struggle to remaininto operation due to poor financial performance. Further, studies also have emphasized that despite the fact that debt financing is readily available in Kenya, most SMEs cannot access them due to lack of collateral and ignorance of the various financing options available in the country. Therefore, this study sought to establish the effect of debt financing onfinancial performance of small and medium-sized enterprises (SMEs) in Homa Bay Town, Kenya. Specifically, the study sought to identify the effect of long term financing on financial performance of SMEs in Homa Bay Town, identify the effect of trade credit on financial performance of SMEs and examine theeffect of short term financing on performance of SMEs in Homa Bay Town. The target population was made up of 825 retail SMEs in Homa Bay Town. The study adopted Yamane’s formula to derive the sample size of 296 SMEs. Primary data was obtained from the sampled SMEs using structured and semi structured questionnaires. The study concluded that there is a great effect of debt financing on the financial performance of SMEs in Homa Bay Town, with long term and short term financing having the highest effect and trade credit ranked lowest in terms of statistical significance.
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    The Effect of Corporate Operational Strategy on Financial Performance of Telecommunication Company in Rwanda
    (ijird, 2020-04) Intwaza Y. A; Dr. Mulyungi P.
    Around the word corporate organization performance have identified corporate operational strategies as their key driver in all area of financials indicator success. Statistics published by Harvard Business Review (2015) revealed that around 85% to 90% of corporate companies are unable to implement their strategies but on other hand an increase of revenue between 80% and 120% are noticed in period of three year for those who succeed in implementing them. Among them 10% realized two thirds of their corporate strategic plans, also 36% realized between 51%-68% and 55% achieving less than 49% (Harvard Business Review, 2015).Report published by Rwanda Development Board revealed that foreign investments worth $463.0 Millionwere invested in the year 2018, with 17.9% in ICT sector (RDB, 2019). Having corporate structure working in new environment with operational decisions to conduct their business, the Rwanda telecom industry is held by multinational corporate companies only,MTN Rwanda, TIGO, AIRTEL, KTR and RWANDATEL, respectively subsidiary of NTN Group, Millicom, Bharti AIRTEL, Korea Telecom and Liquid Telecom (RURA, 2018). MTN Rwanda one of the 22 subsidiaries of MTN groups; South African Corporate company follow the samerule as everywhere in the world; by making operational decisions to embrace corporate strategy. MTN group corporate strategy is to; Create and managing stakeholder value, create a distinct customer experience, drive sustainable growth and transforming operating model.Poor performance, of some multinational corporate company in developing countries and Rwanda among them continue to be exhibited in terms of low return on investigate and return on equity, Even though the benefits and awareness of the use of competitive strategy to attain fully competitive advantage is known all over the world(Janice et al, 2014). A continuous rapid competition grows and inflexible pressure in telecom industry, are a big challenge for corporate