The Effects of International Financial Reporting Standards Adoption on SMES Performance: A Case Study Mombasa – Central Business District (CBD)

The world over, SMEs contribute 90% of the sector production and they are prime source of new jobs in developing countries and play a crucial role in income generation especially for the poor. For their progress, SMEs are required to keep books of accounts and several companies irrespective of their size are bound by statutory rules of a particular country in which they operate to prepare financial reports that conform to specialized set of accounting principles. In July 2009, the IASB published the IFRS for SMEs. The IFRS for SMEs is intended to be applied to the general purpose financial statements that do not have public accountability. The essence of this study is to identify the effects of IFRS adoption by SMEs on their performance. The sampling procedure used was stratified sampling technique. Primary data was collected by use of self-administered questionnaire and it was purely quantitative. Data collected was analyzed with the aid of Statistical Package for Social Scientist (SPSS) and Regression analysis. Finally the findings of the study are presented in bar graphs, diagrams and figures. Tables are used to summarize responses for further analysis and facilitate comparison hence see if the objectives are achieved from conducting the study. The research study sought to evaluate the effects of international financial reporting standard on SMEs performance in Mombasa CBD, Specifically the study explored the objectives provided in chapter one. The study employed descriptive data analysis. The sample under study comprises 39 respondents. The study used primary and secondary data that was collected using questionnaires that was served on the respondents and findings presented using tables. The first part of the objective was to investigate the effect of accessibility of capital on SMEs performance. Majority of the respondents agreed that accessibility of capital had a high effect on performance since in improved on service delivery and production. The second part of analysis was to evaluate the effect of comparability of financial statements on SMEs performance in Mombasa CBD. Majority of the respondents agreed that it has great effect that they were able to their SWOT analysis with accuracy. The third part of the analysis was to investigate the effect of governance on performance. There was high level of acceptance that it reduced levels of fraud and management of resources. The last part of the analysis was to examine the effect of information asymmetry on SME performance. Majority of the respondents agreed that it helped stakeholders in making informed decisions. In investigating the effect of accessibility of capital on SMEs performance, it can be concluded that it had great effect in improving SMEs service delivery and production of goods. The issue of governance has helped in proper utilization of resources and to a great extends reduced levels of fraud. Comparability of financial statements has helped the SMEs in having easy access to financial institutions and being to do accurate SWOT analysis thus giving them a competitive edge. Information asymmetry improved the levels of investment and enabling stakeholder’s make informed economic decisions. In conclusion is apparent that international financial reporting standards are an important component in the performance of SMEs

Factors Affecting Strategic Change Management and the Performance of Commercial Banks in Kenya: A Case Study of Kenya Commercial Bank in Nairobi Region

The main objective of this study is to establish the strategic change management among commercial banks in Kenya: a case of KCB Bank Limited, with the specific objectives being to: analyze the effect of organization culture on strategic change management at KCB Bank Limited; determine the effect organization structure on strategic change management at KCB Bank Limited; investigate the effect of leadership on strategic change management at KCB Bank Limited and to establish the effect of environment on strategic change management at KCB Bank Limited. The target population for this research study will consist of top management staff, middle management and lower management staff KCB Bank Limited. The culture of an organization is strongly linked to its management style and processes. The organization's structure and that organization structure is of both strategic and operational advantage in change management, flexibility had further been emphasized as essential in dealing with many uncertainties in the environment.  Leadership especially top management is probably the most critical element in a major organizational change effort in whichever context. Organizations must continuously engage in strategic renewal, Strategic change management is a set of processes that is employed to ensure that significant changes are implemented in an orderly, controlled and systematic fashion to effect organizational change. Key Words: Strategy, Change Management, Culture, Leadership and Structur

Certain properties of normaloid operators

In this paper we establish new conditions for contractivity of normaloid operators. We employ some results for contractivity due to Furuta, Nakomoto, Arandelovic and Dragomir. A particular generalization is also given

The Effect of Capital Structure on Financial Performance with Firm Size as a Moderating Variable of Non-Financial Firms Listed at the Nairobi Securities Exchange

This paper examines the effect of capital structure on the financial performance of the non-financial firms listed at the Nairobi Securities Exchange and how this relationship is moderated by firm size. In addition, the paper evaluates the existence of equilibrium and disequilibrium relationship among the variables. The study analyzed unbalanced panel data sourced from across 53 non-financial firms listed at the Nairobi Securities Exchange which covers the period from 2010 to 2017. Total debt to total equity, total equity to total assets, and total debt to total assets were used for assessing capital structure of the listed non-financial firms. Firm size was measured using natural logarithm of total sales. Financial performance attribute was measured by Tobin’s Q. Data was analyzed using descriptive statistics, multiple and simple regression analysis. Regression analysis was used to ascertain the direction and magnitude of the relationships. The study revealed that leverage had a significant positive effect on the financial performance of the NSE listed non-financial firms. Furthermore, firm size has a positive moderating effect on the relationship between capital structure and financial performance. The study concludes that firms should strive to increase their leverage since it has a statistically significant positive effect on financial performance of the nonfinancial firms listed on the NSE. The study further concludes that firms should strive to grow their firm size by increasing their total sales. This is because it has a statistically significant positive effect on the financial performance of NSE listed non-financial firms

On reflexivity, denseness and compactness of numerical radius attainable operators

In this paper, we study the properties of normal self-adjoint operators. We concentrate on some of their properties, for example, reflexivity, denseness and compactness. We also give some results on norm-attainability

Effects of financial intermediation of microfinance institutions on financial sector development

ABSTRACT The objective of this study was to analyze the effects of Microfinance Intermediation on the financial sector development and growth. It will determine and analyze the gaps in financial intermediation; establish the effectiveness of Microfinance Institutions (MFIs) in financial intermediation and how this has helped develop the financial sector. Financial institutions require prospective investors to produce collaterals before they are granted Loan facilities; this has been a major hindrance to low income earners who form the majority of the population in the rural areas. The target population includes people participating in microfinance which in many cases has been found to be women groups, middle and low income earners. A case study of Kenya women finance trust (KWFT) at Mombasa has been undertaken and primary data collected by means of structured questionnaires developed to address the objectives of the study. A Sample of 150 respondents including an interview schedule with the management of KWFT has been undertaken with Quantitative and Qualitative methods used to analyze the data and presented them using inferential statistics methods. Findings of the study revealed a wide access to the financial sector, improved resource allocations, low transactional costs and development of the rural financial markets. The following conclusions were drawn from the study: MFIs have a positive effect on the development and growth of the financial sector; access to loans that has been a major challenge in the SMEs sector has been increased and the saving culture among the low income earners enhanced. Based on the findings, it is recommended that; beyond the Loans provided, it is prudent for KWFT to operate Savings accounts open to all kinds of customers to enhance Capital accumulation