Effect of Tax Benefits on Value of Firms Listed in Nairobi Securities Exchange

This study measured the effect of financing decisions determinant of tax benefits on the value of the firm utilizing financial statements of listed firms which covered  a period of 10 years from January 2008 to December 2017. The study was anchored on Net income approach and Modiglini-Miller theories of finance.  Positivisim research philosophy was adopted while cross sectional and explanatory research designs were applied. Document guide analysis was used to extract secondary data from published financial statements of the respective companies for the period of study. Face validity of the research instrument was ensured through peer reviews while content validity was ensured by using the expert opinion of the University Supervisors. Data was analyzed using descriptive statistical methods of mean, percentages and standard deviation. Inferential statistical methods of stepwise regression analysis was adopted in analysis of the panel data. The results were presented in the form of tables. The findings revealed that tax benefit had significant effect on value of the firms listed in Nairobi Securities Exchange. In conclusion however tax benefits as measured by depreciation tax benefit had more impact on the value of listed firms in agricultural, energy and petroleum sectors however when interest tax benefit is the indicator for tax benefits then firms in commercial and services, construction and allied, insurance, investment and telecommunication sectors revealed greater effect of tax benefit on value of firm. It was recommended that tax benefits be traded off with interest expense and corporate taxes be evaluated against interest rates to optimize tax benefits. Keywords: Tax benefits, value of firm, depreciation tax benefit, interest tax benefit DOI: 10.7176/RJFA/12-1-04 Publication date: January 31st 202

Effect of Internal Control Systems on Implementation of Projects at County Government in Kenya

Over the years, there has being a problem of incorrect and unreliable financial record which has led to loss of organizational integrity, therefore affecting the implementation of projects in institutions and organizations. While financial management is a practically central concern in internal management of finances, its successful implementation remains an essential challenge for virtually any county government in developing counties. In situations where the environment is changing, the county itself is faced with a need to change. The fact that local authorities in Kenya were in transition following promulgation of the new constitutional dispensation, require an appropriate and detailed understanding on previous and existing financial challenges so that a new shift is established. This research was conducted in Nyamira County, Kenya which is amongst the 47 counties established in 2013. The study used explanatory survey design. The study used secondary data available at the county government databases..Data was analyzed using inferential statistic method of simple and multi variantregression analysis was used to determine the effect of internal control system on implementation of project at the county government. Results were presented in the form of tables for ease of interpretation. The study confirmed that internal control system has a significant effect on the implementation of projects at the county governments in Kenya. With adequate internal control measure in place at the county government then resources will be safeguarded and directed optimally to the right projects as planned

Assessing the effect of liquidity on profitability of commercial banks in Kenya

The financial sector in Kenya is dominated by commercial banks which have reported significant growth and improved financial performance. Despite the growth, the sector still faces many challenges including stiff competition from within, MFIS, mortgage firms and SACCOs and competition over the last few years resulting from increased innovations in the market. In order to survive and remain competitive they need to be profitable since a profitable banking sector is better able to withstand negative shocks. This study therefore was motivated by the fact that commercial banks need to understand the internal factors which they can manipulate to their advantage to maximize profits. The study will aid commercial banks to maintain a certain minimum balance of cash to enable them maximize the returns. The study determined the effect of internal factors on profitability of commercial banks in Kenya particularly the banks liquidity. The study employed a descriptive research design incorporating panel data. All the 43 Commercial banks in Kenya formed the population and a census was done over a period of 5 years from 2009 to 2013 due to availability of data. This study used secondary data obtained from the annual published financial statements which were analyzed using descriptive and inferential statistics. Internal factor was Liquidity, while Profitability was measured using ROA ratios. The findings of the study show that all the variables Liquidity, has statistically significant and positive relationship with banks’ profitability. This study recommends that banks should invest heavily in assets if substantial gains have to be realized, maintain adequate liquidity levels though in the form of short term marketable securities in order to realize profits and aggressively identify viable investment opportunities and link such opportunities to customer deposits. Keywords: Liquidity, profitability, commercial banks, financial performance

Effects of Motivation on teacher’s performance in Kenyan Schools: A Survey of Nyamira District Secondary Schools in Nyamira County

Motivation of teachers serves as key to facilitate organization performance. However, there are strategies to make these teachers deliver their services to the best of their ability which includes financial and non-financial incentives .The management should take initiatives to shape these teachers through in service training organized by institutions. As it is known, the individual life structure is shaped by three types of external events: the socio-cultural environment, the role they play and the relationship they have and opportunities and constraints that enable them to express and develop their careers. This study was conducted in National, county and district secondary schools operating in Nyamira district, Nyamira County. The general objective was to assess the effects of motivation on teacher’s performance in Nyamira district, Nyamira County. The specific objectives were: To investigate the effects of financial motivation on teacher’s performance in Nyamira county, to investigate the effects of non financial motivation on performance and to establish the effects of teacher’s rewards on performance. The study was a survey research design which required quantitative methods. There were 68 respondents (40 teachers, 14principal and 14 Deputy Principals). This study adopted purposive and simple random sampling techniques in selecting the sample for the study. Three five-point likert type scale questionnaires were used to obtain data for the study. They were Secondary School Teachers Questionnaire (SSTQ) and Secondary School Principals/Deputy principals Questionnaire (SSP/DQ).The reliability coefficient on SSTQ and SSP/DQ of 0.65 and 0.68 respectively were obtained. The data was analyzed by use of a descriptive statistics, inferential statistics and multi linear regression model, using the SPSS package. Recommendations on ways of motivating teachers in order to improve the performance were made. Keywords: Effects, Motivation, Bonus pay, Promotion, Performance, Nyamira District, Nyamira County

Regression Analysis of Entry Scores (KCPE) and Final Performance (KCSE) in Kenya: A Case of Nyamira District, Nyamira County, Kenya.

Teacher’s presence plays an important role in determining the learners’ performance in Kenya certificate of secondary education. Learners’ performance in Kenya certificate of primary education is very crucial in determining their final grade in Kenya certificate of secondary education. Depending on the institutions the learners get admitted to, they will improve, maintain or drop. It is known that the individual’s life structure is shaped by three types of external events; the social-cultural environment, the role they play and the relationships they have and the opportunities and constraints that enable them express and develop their personality. The main purpose of the study is to investigate regression analysis of entry scores (KCPE) and final performance (KCSE) and find out the relationship. The specific objectives of the study will be to analyze the relationship between entry marks and final grade, to verify whether entry mark impact on the final performance and to find out whether entry marks determine the outcome of the final performance. The study will be carried out in Nyamira district public secondary schools which are both provincial and district. The data to be used in this study will comprise 48 schools of which a sample of 16 schools will be used to create sampling framework. Simple random sampling will be used to select a sample of the accessible schools. A sample of 572 students of which 348 girls and 224 boys were analyzed. Regression analysis will be used to analyze data which will be useful in measuring entry scores in KCPE and final performance in KCSE. Given the reliability of regression analysis of the data, the results could be used to alert the management, stakeholders and parents, the level of learners and the strategies needed for them to achieve better results. Furthermore, it will let educators know the existing situation and suggest away forward to save the situation. Key Words: Attitude, analysis, performance, regression, stake holders and learning resources

O currículo, a educação musical e as realidades individuais de cada estudante: um ensaio em defesa da inclusão cultural no ensino de música

O presente texto tem como principal objetivo discutir a necessidade de se valorizar os vários géneros musicais, nomeadamente aqueles que se encontram culturalmente mais próximos dos alunos, e promover diferentes práticas pedagógico-curriculares associadas a esta dimensão, potenciando uma educação musical mais inclusiva, ativa e completa. Para isso, o ensaio está divido em duas secções distintas. Na primeira secção, refletimos sobre o ensino formal, integrando três dimensões distintas: o currículo; a ideologia e a cultura; o estudante enquanto indivíduo. Na segunda secção, discutimos conceitos relacionados à educação musical, problematizando-se, com maior enfâse, questões relacionadas com a hegemonia curricular, pedagógica e cultural associada ao ensino da música. Com este texto, procuramos trazer para o debate educativo o reconhecimento da individualidade de cada estudante no contexto escolar e, em particular, na educação musical. Defendemos, assim, um currículo, no âmbito do ensino da música, que seja consciente da dimensão cultural dos processos educativos e que potencie um repertório em que evidencia e valoriza a multiculturalidade associada às sociedades contemporáneas.info:eu-repo/semantics/publishedVersio