Relationship between Bank Failure and Economic Activities: A Review of Literature

The banks are very important institutions in any given economy due to their role of financing the economy. Banks if not properly regulated can fail and hinder their primary role. The main aim of the study was to carry out a literature review on the Relationship between bank failure and economic activities. The specific objectives of the study are; to review the theoretical literature that anchors the study that links bank failure and economic growth, to review the empirical literature on the channels that link bank failure and economic growth, to investigate the gaps in the theoretical and empirical literature on the channels that link bank failure and economic growth and to propose a theoretical framework for linking bank failure and economic growth. The study is anchored by the agency theory, the contagion and the theory of lemons. The study empirically reviewed past studies in similar area and established gaps. The result indicated that the essential cause of the banking crunch is a physical one. Deregulation made it conceivable for commercial banks to also achieve activities of speculation banks, and for investment banks to also achieve actions of commercial banks. This had the effect of letting these organizations to association liquidity and credit risks in an unrestrained way. Double liability disclosures shareholders of deteriorating banks to misplace not only the original amount capitalized but also an amount identical to the par value of shares periods the number of shares possessed. The bank channels have a precarious role in the determining of the economy in the following ways. In the direct wealth effect when the banks fail, the investors who did not have the credits insured will have reduced wealth. This will in turn affect the real economy due to abridged consumer expenditure. Conclusion was made that bank failure remains a major threat to consistent economic growth that leads to development. The impact caused by economic contraction prevalent during this phase originated due to several shocks resulting in liquidity preference increase among depositors who preferred holding more currency to demand deposits and other liabilities. To this end, capital squeeze created reduction in money supply that affected entrepreneurial financing leading to slowdown in economic activity

Evaluation of Performance Appraisal Tools on Employee Performance: Case of National Bank of Kenya Limited

Performance appraisal is one of the major bundles in Human Resource Management. Successful performance appraisal system is one that has resulted from hard work, careful thinking, planning and integrated with the strategy and needs of the organisation. Inaccuracies in appraisal can de-motivate employees forcing them to leave organizations. Due to many challenges within the economy, more demand is put on employees to perform without corresponding returns e.g. pressure to meet the targets without the necessary tools to evaluate their performance by appraising them and this has increased the level of frustration. At National Bank Kenya Limited (NBK), performance appraisal as a tool is utilised. However the quality of performance appraisal and its effect on employee performance cannot be ascertained. The purpose of the study was to analyse the various performance appraisals on employee performance case of NBK. This research adopted a descriptive research design. The target population in the research was 100 employees working in the headquarters of the bank. Stratified random sampling technique was used to select the sample which was 30%. The researcher used the questionnaire as primary data collection instrument. SPSS (Version 21) was used to analyze the data and presented by tables. The study found that performance appraisal is very important in influencing successful job performance. It was deduced that the 360-degree appraisal method and management by objectives (MBO) among others greatly influenced employee performance at National Bank.  It was also noted that the appraisal forms should capture more data such as evaluation of the employees’ communication and interpersonal skills/teamwork, adaptability of the employee to work environment, dependability clause and space for short and long-term goals. Key Words: Performance appraisal tools, Employee Performance, National Bank of Kenya Limited

Effect of Financial Management Policy Implementation on Financial Performance of NGOs in Nairobi County

Financial management policies are used by organizations as tools for ensuring that their finances are managed in proper manner in all areas of their operations. Lack of implementation of proper management policy exposes NGOs to threats like loss of assets, production of financial reports which are incorrect and unreliable for decision making purposes. This may also lead to application of accounting policies by an organization which are not consistent with the applicable governing laws and regulations. However NGOs that have implemented proper financial management policies are generally known to record improved financial performance. Therefore, the overall objective of this study was to establish the effect of financial planning on financial performance of Non – Governmental Organizations in Nairobi County. The study adopted a descriptive research design. A sample of 45 NGOs was selected from a population of 1,775 NGOs in Nairobi County both local and international. Data was obtained through the use of questionnaires and analyzed using both descriptive and inferential statistics. Multiple regression analysis results showed that financial planning affects an organization financial performance. The study found out that financial planning has a great effect on financial performance of NGOs hence an important variable that the management of NGOs should not ignore in order to improve on their financial performance. A feedback system should be put in place ensuring corrective measures are taken to enable organizations respond urgently to emerging risks

Effects of Transfer Pricing on Tax Liability for Multinational Enterprises in Kenya’s Cement Industry

The purpose of this study was to examine the relationship between transfer pricing and tax liability in Kenya’s cement industry. The dependent variable of tax liability was examined against independent sub-variables namely; business models, thin capitalization, tax haven utilization and intra-company payments. Using longitudinal research design, the study examined relationships between the independent and dependent variables tracked over a 10 year period starting 2005. Out of the 6 companies in the industry, the study targeted 3 companies using purposive sampling on the basis of availability of annual financial statements and affiliation to a multinational company. Quantitative data collected for this study was analyzed by both descriptive and inferential. Data presentation was then done using tables, charts and graphs. Content analysis was used for qualitative data and presentation done in prose form. Correlation and univariate linear regression analysis was done to establish existing relationships between the dependent variable and independent variables of interest. It was concluded that tax paid over the 10-year period had not been affected by business models in existence; thin capitalization practices; tax haven utilization and intracompany payments. This study therefore recommends that the tax authorities should channel resources towards studying and assessing other forms of transfer pricing abuse likely to yield better tax results than the four variables studied herein

Stratification of biological therapies by pathobiology in biologic-naive patients with rheumatoid arthritis (STRAP and STRAP-EU): two parallel, open-label, biopsy-driven, randomised trials

Background Despite highly effective targeted therapies for rheumatoid arthritis, about 40% of patients respond poorly, and predictive biomarkers for treatment choices are lacking. We did a biopsy-driven trial to compare the response to rituximab, etanercept, and tocilizumab in biologic-naive patients with rheumatoid arthritis stratified for synovial B cell status. Methods STRAP and STRAP-EU were two parallel, open-label, biopsy-driven, stratified, randomised, phase 3 trials done across 26 university centres in the UK and Europe. Biologic-naive patients aged 18 years or older with rheumatoid arthritis based on American College of Rheumatology (ACR)–European League Against Rheumatism classification criteria and an inadequate response to conventional synthetic disease-modifying antirheumatic drugs (DMARDs) were included. Following ultrasound-guided synovial biopsy, patients were classified as B cell poor or B cell rich according to synovial B cell signatures and randomly assigned (1:1:1) to intravenous rituximab (1000 mg at week 0 and week 2), subcutaneous tocilizumab (162 mg per week), or subcutaneous etanercept (50 mg per week). The primary outcome was the 16-week ACR20 response in the B cell-poor, intention-to-treat population (defined as all randomly assigned patients), with data pooled from the two trials, comparing etanercept and tocilizumab (grouped) versus rituximab. Safety was assessed in all patients who received at least one dose of study drug. These trials are registered with the EU Clinical Trials Register, 2014-003529-16 (STRAP) and 2017-004079-30 (STRAP-EU). Findings Between June 8, 2015, and July 4, 2019, 226 patients were randomly assigned to etanercept (n=73), tocilizumab (n=74), and rituximab (n=79). Three patients (one in each group) were excluded after randomisation because they received parenteral steroids in the 4 weeks before recruitment. 168 (75%) of 223 patients in the intention-to-treat population were women and 170 (76%) were White. In the B cell-poor population, ACR20 response at 16 weeks (primary endpoint) showed no significant differences between etanercept and tocilizumab grouped together and rituximab (46 [60%] of 77 patients vs 26 [59%] of 44; odds ratio 1·02 [95% CI 0·47–2·17], p=0·97). No differences were observed for adverse events, including serious adverse events, which occurred in six (6%) of 102 patients in the rituximab group, nine (6%) of 108 patients in the etanercept group, and three (4%) of 73 patients in the tocilizumab group (p=0·53). Interpretation In this biologic-naive population of patients with rheumatoid arthrtitis, the dichotomic classification into synovial B cell poor versus rich did not predict treatment response to B cell depletion with rituximab compared with alternative treatment strategies. However, the lack of response to rituximab in patients with a pauci-immune pathotype and the higher risk of structural damage progression in B cell-rich patients treated with rituximab warrant further investigations into the ability of synovial tissue analyses to inform disease pathogenesis and treatment response

The evolving SARS-CoV-2 epidemic in Africa: Insights from rapidly expanding genomic surveillance

INTRODUCTION Investment in Africa over the past year with regard to severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) sequencing has led to a massive increase in the number of sequences, which, to date, exceeds 100,000 sequences generated to track the pandemic on the continent. These sequences have profoundly affected how public health officials in Africa have navigated the COVID-19 pandemic. RATIONALE We demonstrate how the first 100,000 SARS-CoV-2 sequences from Africa have helped monitor the epidemic on the continent, how genomic surveillance expanded over the course of the pandemic, and how we adapted our sequencing methods to deal with an evolving virus. Finally, we also examine how viral lineages have spread across the continent in a phylogeographic framework to gain insights into the underlying temporal and spatial transmission dynamics for several variants of concern (VOCs). RESULTS Our results indicate that the number of countries in Africa that can sequence the virus within their own borders is growing and that this is coupled with a shorter turnaround time from the time of sampling to sequence submission. Ongoing evolution necessitated the continual updating of primer sets, and, as a result, eight primer sets were designed in tandem with viral evolution and used to ensure effective sequencing of the virus. The pandemic unfolded through multiple waves of infection that were each driven by distinct genetic lineages, with B.1-like ancestral strains associated with the first pandemic wave of infections in 2020. Successive waves on the continent were fueled by different VOCs, with Alpha and Beta cocirculating in distinct spatial patterns during the second wave and Delta and Omicron affecting the whole continent during the third and fourth waves, respectively. Phylogeographic reconstruction points toward distinct differences in viral importation and exportation patterns associated with the Alpha, Beta, Delta, and Omicron variants and subvariants, when considering both Africa versus the rest of the world and viral dissemination within the continent. Our epidemiological and phylogenetic inferences therefore underscore the heterogeneous nature of the pandemic on the continent and highlight key insights and challenges, for instance, recognizing the limitations of low testing proportions. We also highlight the early warning capacity that genomic surveillance in Africa has had for the rest of the world with the detection of new lineages and variants, the most recent being the characterization of various Omicron subvariants. CONCLUSION Sustained investment for diagnostics and genomic surveillance in Africa is needed as the virus continues to evolve. This is important not only to help combat SARS-CoV-2 on the continent but also because it can be used as a platform to help address the many emerging and reemerging infectious disease threats in Africa. In particular, capacity building for local sequencing within countries or within the continent should be prioritized because this is generally associated with shorter turnaround times, providing the most benefit to local public health authorities tasked with pandemic response and mitigation and allowing for the fastest reaction to localized outbreaks. These investments are crucial for pandemic preparedness and response and will serve the health of the continent well into the 21st century

Frequency of Interaction between Advisors and Adult Learners during Mentoring and Academic Advising in Universities

Abstract The study intende