IOSR-JEF   Volume-9 ~ Issue-5 ~ Sep-Oct 2018

Abstract: Over the years, numerous cases of financial distress have been witnessed among listed firms in Nairobi Securities Exchange. Trading activity affects corporate financial decisions by reducing cost of capital and facilitating access to more funds on the capital markets. Consequently, trading activity enhances firm performance due to the feedback effect. In view of the aforementioned, the primary aim of this study is to determine the role of trading activity on the relationship between financial leverage and the likelihood of financial distress among listed firms in Kenya. The analysis is based on a sample of 40 listed firms on the Nairobi Securities Exchange-Kenya for the period 2006- 2015. The study found a positive and significant effect of financial leverage (β=0.824; p<0.05) on the likelihood of financial distress. Subsequently, when trading activity was introduced, the findings.........

Keywords: Financial Distress, Trading Activity, Financial Leverage, Feedback

Abstract: Fiscal policy in Kenya has been unstable. Fiscal balance to GDP ratio worsened from a surplus of 0.2 percent to a deficit of 7.6 percentwhile debt to GDP ratio rose from 25.4 to 56.2 percent between 1963 and 2015. This was against deficit target of 4.8 and debt ratio of 41.4 percent in 2015. The continued build up of debt implies debt stabilization is not a priority and high debt may lead to adverse effects to the economy. The paper estimated the optimal fiscal balance to GDP ratio needed to stabilize debt levels and establish how the government reacts to changes in debt levels using fiscal reaction function in order to establish if the government was concerned with debt stabilization. The government requires an average fiscal deficitratio of four percent between 2016 and 2030. Fiscal policy has not been responding adequately to changes in debt levels as the government pursued an expansionary..........

Keywards: Debt stabilization, fiscal balance, fiscal reaction function, fiscal consolidation, optimal debt

Abstract: This paper explored the effect of economic growth on poverty reduction in Nigeria using a time series data spanning from 1980-2016. Unit Root and Johansen Cointegration tests were carried out to determine stationarity and long-run relationship among the variables respectively, while the VAR was carried out to determine the effect of Government expenditure, unemployment growth rate and Real GDP on poverty incidence. The result shows that Government expenditure is positively related to poverty incidence. This suggests that the poor are not benefitting from the economy at large, especially from total government expenditure. The GDP coefficient (a proxy for economic growth) conforms to the a-priori expectation, which depicts a negative relationship between economic growth and poverty incidence, while unemployment relates positively to poverty reduction. Therefore,..........

Keywards: Economic growth, Poverty Incidence, GDP, Labour-intensive, Vector Autoregressive.

Abstract: The role of marketing in a company is very important. Marketing can be said to be the spear of a company because without a sales company can experience a collapse due to running out of resource resources. In product marketing in ancient times and now it is certainly different. Now, you can use sophisticated technology to make spending more efficient. But first, people still use conventional methods. Each company has its own characteristics. The manufacture of products or services done by PT Indofood Sukses Makmur Medan Tbk that consumers want must be the focus of operational activities and planning of a company. Sustainable marketing must have good coordination with various departments, not only in the marketing department..

Keywards:marketing strategy; products; planning; profit

Abstract: Most economists have argued that government institutions play a crucial role on performance of private investment. One such institution is the justice system that dispenses justice and provides security. There has been concerns that provision of these services hasnot beenoptimal for most developing economies and this could be affecting the growth of private investments. Thispaper investigated whether dispensation of justice and provision of security had effects on growth of private investments in Kenya. This was realized by estimating a structural model using instrumental variable method and data for the period 1960 to 2016. The findings were that enhanceddispensation of justice spurs the growth of private investments while insecurity hampers the growth. Based on these findings, governments............

Keywards: Dispensation of justice, security, effect, private investments

Abstract: The study investigated the impact of capital market on the economic growth in Nigeria: Annual time series data were obtained from the Central Bank of Nigeria Statistical Bulletin and Securities and Exchange Commission statistical bulletin for the period 1981 to 2016 on the variables used for the study. Unit root test was conducted using Augmented Dickey-Fuller test technique and the result showed that the variables were stationary though at different levels. Co-integration test was also conducted using Johanssen co-integration test method and the result showed that the variables in the model are co-integrated meaning that the variables have a long run relationship. The error correction mechanism showed that the coefficient of multiple determination (R2) in the overparameterized..........

Keywards: Market capitalisation, listed equity, volume of transaction, economic growth

Abstract: This paper seeks to examine the impact of intermediation roles of deposit money banks on the performance of the real sectors in Nigeria from 1991 to 2015. The research design adopted in this study was ex-post facto, that is, the use of secondary data. The researcher obtained from the Central bank of Nigeria (CBN) Statistical Bulletin and Annual Reports. The main objective is to find out if credits from money deposit banks have any significant effect on the real sectors GDP growth rate. The population and sample of the study was 24 deposit money banks operating in Nigeria. Real sectors are represented by agriculture, manufacturing and mining. The study employs Ordinary Least Square..........

Keywards: Credits, Deposit Money Banks, GDP, Performance, Real Sectors

Abstract: This study aims to examine the mediating role in corporate governance relations and firm value. The research was conducted on companies that participated in the CGPI program and published sustainability reports. Observation period 2011 - 2015. The results show that overall corporate social responsibility was not proven to mediate the relationship between corporate governance and company value as measured by NPM. Furthermore, corporate social responsibility does not mediate the relationship between corporate governance and corporate value as measured by ROE. Improving corporate governance will increase corporate social responsibility and corporate value, occurring in the measurement of company value with..........

Keywards: corporate social responsibility, corporate governance, firm value

Abstract: This paper analyzed export competitiveness of Kenyan cut flower exports to the European Union market using secondary data from 2001 to 2017. Revealed Comparative Advantage (RCA) was used to assess the competitive position of Kenyan cut flower exports in the global picture and a multiplicative model which assessed the determinants of cut flower exports to the European Union market while a Multiplicative model was used to evaluate the determinants of cut flower exports to the European Union market. Revealed Comparative Advantage index indicated that Kenya exhibits a very strong comparative position in relation to Malaysia, Germany, Italy and Belgium. Kenya exhibits moderate comparative advantage against Israel and the Netherlands and a weaker comparative..........

Keywards: Competitiveness, Cut flowers, Revealed Comparative Advantage, Robust Regression

Abstract: Kerala has a long tradition of growth and development. From the very early decades itself the state gives much importance to health and education. Today's growth in health and education in Kerala is linked to the Kerala model of development. The development in Kerala has positive and negative effects. Migration promoted by educational improvement leads to a large amount of remittances, which in turn leads to the development of the economy. As a result of migration, unemployment has been reduced to a great extent. It leads to increase in the work participation rates of female unemployed labour force in the economy. On the other side, migration leads to educational unemployment in the economy....

Abstract: Human resources departments in modern businesses are responsible for a wide range of strategic tasks, from recruiting to firing staff. Globally, businesses are currently investing in HR automation solutions to streamline and optimise these processes. HR automation is the use of technology to improve an organization's HR functions. The successful implementation of these technologies is anticipated to alter the HR procedure. It's possible that the tried-and-true approaches of managing staff will become irrelevant and inefficient. In enterprise content management, the human factor is crucial and must not be disregarded. As a result, companies are automating HR in an effort to increase HR productivity. With proper implementation, HR automation may help firms....

Key Words: HR Automation, Employee on boarding, Time management, Pay roll, Performance Management, etc