Abstract: The study investigated the impact of corporate governance (CG), investment strategy (IS) and macroeconomic variables on the financial performance of pension schemes in Kenya thereby addressing the key research question: What is the effect of CG, IS and macroeconomic variables on the financial performance of pension funds in Kenya? Qualitative, quantitative and correlational research designs were used to assess the effect of these factors on financial performance of pension funds. Quantitative data on annual return of pension funds and macroeconomic variables from 2012 to 2020 as well as qualitative data on CG indicators and IS were used in the study. Return on investments proxied pension fund performance. Primary data was collected using survey questionnaires......
Keywords: Corporate governance, investment strategy, financial performance, macroeconomic factors
[1]
Aluoch M. O., Mwangi C. I., Kaijage E. S., Ogutu M. (2020). The Relationship Between Board Structure And Performance Of Firms Listed At The Nairobi Securities Exchange, European Scientific Journal, Edition Vol.16, No.19 Issn: 1857-7881 (Print) E - Issn 1857-7431, University Of Nairobi, Kenya.
Doi:10.19044/Esj.2020.V16n19p337 Url:Http://Dx.Doi.Org/10.19044/Esj.2020.V16n19 P337
[2]
Antolín, P.,And Stewart F. (2009). Private Pensions And Policy Responses To The Financial And Economic Crisis, Oecd Working Papers On Insurance And Private Pensions No. 36. Organisation For Economic Co-Operation And Development, Paris.
[3]
Baron, R.M., And Kenny, D.A. (1986). The Moderator-Mediator Variable Distinction In Social Psychological Research: Conceptual, Strategic, And Statistical Considerations, J Pers Soc Psychol. 51(6): 1173-82.
[4]
Chamberlain, S., Howe, J.S., And Popper, H. (1997). The Exchange Rate Exposure Of Us And Japanese Banking Institutions. Journal Of Banking And Finance, 21(6), 871-892.
[5]
Chan, K.C., Karceski, J., And Lakonishok, J. (1998). The Risk And Return From Factors, Journal Of Financial And Quantitative Analysis, 33, 159- 188.
