Firm Specific Factors and Financial Performance of Real Estate Firms Listed at the Nairobi Securities Exchange In Kenya

This study sought to find the effect of selected firm specific factors on real estate firm financial performance. Financial performance was measured by return on assets (ROA) and return on equity (ROE). The objectives of the study were to; determine the effect of liquidity on financial performance; assess the effect of leverage on financial performance; and examine the effect of firm size on financial. The study was based on the Trade-off theory, Shiftable theory and Liquidity preference theory. The study used descriptive survey research design in an attempt to investigate the effect of selected firm specific factors on firm financial performance. The population of this study comprised the five (5) real estate firms listed under the investment subsector of the Nairobi Securities Exchange (NSE). The study used data covering a period of ten years from 2008 to 2017. The data was collected from published audited financial annual reports of the four (4) real estate firms listed in the Nairobi Securities Exchange. One was not studied due to unavailability of financial statements for the whole period of the study. The secondary data was collected using a data collection sheet. To describe profiles of the firms and research variables, means, standard deviations and coefficient of variation were used; and Pearson’s correlation was used to examine relationships. The diagnostic tests done were normality and autocorrelation tests. The researcher used SPSS software to assist in analyzing the data. The results revealed significant negative relationship between liquidity and financial performance. The results also showed insignificant positive relationship between leverage and financial performance. The results also showed insignificant positive relationship between firm size and financial performance. Further, the results evidenced that all the variables combined had a statistically significant effect on the financial performance. The study recommends further research on other firm specific factors not included in the study to determine whether they have a significant effect on financial performance of real estate in Kenya or not. Keywords: Firm Specific Factors, Financial Performance, Real Estate Firms, NSE DOI: 10.7176/RJFA/11-14-18 Publication date:July 31st 202

Generic Escherichia coli Contamination of Spinach at the Preharvest Stage: Effects of Farm Management and Environmental Factors

The objective of this study was to determine the effects of farm management and environmental factors on preharvest spinach contamination with generic Escherichia coli as an indicator of fecal contamination. A repeated cross-sectional study was conducted by visiting spinach farms up to four times per growing season over a period of 2 years (2010 to 2011). Spinach samples (n = 955) were collected from 12 spinach farms in Colorado and Texas as representative states of the Western and Southwestern United States, respectively. During each farm visit, farmers were surveyed about farm-related management and environmental factors using a questionnaire. Associations between the prevalence of generic E. coli in spinach and farm-related factors were assessed by using a multivariable logistic regression model including random effects for farm and farm visit. Overall, 6.6% of spinach samples were positive for generic E. coli. Significant risk factors for spinach contamination with generic E. coli were the proximity (within 10 miles) of a poultry farm, the use of pond water for irrigation, a >66-day period since the planting of spinach, farming on fields previously used for grazing, the production of hay before spinach planting, and the farm location in the Southwestern United States. Contamination with generic E. coli was significantly reduced with an irrigation lapse time of >5 days as well as by several factors related to field workers, including the use of portable toilets, training to use portable toilets, and the use of hand-washing stations. To our knowledge, this is the first report of an association between field workers' personal hygiene and produce contamination with generic E. coli at the preharvest level. Collectively, our findings support that practice of good personal hygiene and other good farm management practices may reduce produce contamination with generic E. coli at the preharvest level

Inactivation of vibrio parahaemolyticus in hard clams (mercanaria mercanaria) by high hydrostatic pressure (HHP) and the influence of HHP on the physical characteristics of hard clam meat

Vibrio parahaemolyticus bacterium is a leading cause of gastroenteritis associated with consumption of raw or undercooked molluscan shellfish in the US. The current post harvest treatment methods (relaying and depuration) used by the shellfish industry have been found to be ineffective in reducing naturally occurring Vibrio spp. and viral pathogens such as norovirus. The first objective of this research was to demonstrate the potential of HHP against Vibrio parahaemolyticus in littleneck New Jersey hard clams (Mercanaria mercanaria). The second objective was to identify and quantify the changes in appearance and texture of clam meat after HHP by instrumental analysis. Live clams were inoculated through bioaccumulation with approximately 8 log CFU/g of a cocktail culture of five outbreak strains of Vibrio parahaemolyticus. Inoculated clams were processed at pressures ranging from 250 to 450 MPa for hold times ranging between 2 to 6 minutes. The double layer plate method (DLPM) was used to recover pressure injured Vibrio parahaemolyticus cells. To study physical changes due to HHP, clams were exposed to pressures between 137 and 552 MPa. Volume, texture and color changes of clam meat were determined by instrumental measurements. Treatment conditions of 450 MPa and 6 minutes, 450 MPa and 4 minutes, 350 MPa and 6 minutes reduced the initial concentration of Vibrio parahaemolyticus to below the limit of detection. The volume of whole clam (processed in shell) also increased with negligible change in mass (together with shell), while drip loss reduced after HHP. The increase in volume may be due to the perfusion of clam liquor into the tissue rather than absorption of pressurizing medium (water). There was an increase in firmness of the clam meat at 276 MPa and a reduction at 552 MPa. However all HHP clams were found to be firmer compared to unprocessed clams. Lightness (L*) of the clam meat increased and redness (a*) decreased with increasing pressure. Although high pressure processed clams may pose a significantly lower risk from Vibrio parahaemolyticus, the effect of the accompanied physical changes on the consumer’s decision to purchase HHP clams remains to be determined.M.S.Includes bibliographical referencesby Gabriel Mootia