This study sought to determine the effect of Covid-19 pandemic on stock performances. In determining the effect, the research considered other variables. The control variables are exchange rates, stock trade volumes and the days to 2019 dividends book closure. The study adopted a quantitative approach where quantitative data was collected and analyzed through regression. The study used the natural logarithm of share prices to represent stock performance and the number of company shares traded in a day to represent share trade volume. Number of days to 2019 dividends was used to measure the effect of dividends declaration on share prices while real exchange rates were used to measure exchange rates. The effect of COVOD 19 was measured by number of days since the first case was announced. The data was collected for 30 days since the first case was announced and eliminated weekends as the market closes for the weekend. The study results have indicated that except for the exchange rates, the other variables under study affected share performance negatively. For a unit increase in COVID 19 effect, stock performance reduced by 0.203 while for a unit increase in trade volume, it reduced by 0.136 units. The study also established that for a unit increase in days to 2019 (last trading period) dividends, there was a decrease in stock performance by 0.998, which was the highest absolute effect. In exchange rates, a unit increase in exchange rates increased stock performance by 0.036, which was the lowest absolute effect. Except for the exchange rates, all other variables had a significant effect on stock performance as measured by their p-values. The p-values were 0.000 for both trade volume and days to 2019 dividends but 0.042 for effect of COVID 19 pandemic. The insignificant exchange rate p-value was 0.592. The four variables were found to be responsible for up to 32.36% of the changes in stock performance. This shows that there are other factors, which account for the remaining 67.64% of the changes in stock performance. The study findings are adequate to advice on key matters relating to stock performance. The results are helpful to investors and other interested stakeholders like policy makers and researchers. Using the results, policy makers will be able to develop well-informed policies on reducing effects of pandemics on stock performance and help cushion investors in the NSE. This will also make NSE a safe market to deal with.

This study investigated the effect of leadership styles on job satisfaction and employee performance in the banking sector in Kenya. The study examined the effect of transformational, transactional and laissez-faire leadership styles on employee job satisfaction and performance at the Family bank of Kenya Limited. This involved a sample size of thirty seven (37) employees and thirteen (13) managers from nine Family bank branches within Nairobi City, obtained through stratified random sampling technique. Variables which include: leadership styles as independent variable, and job satisfaction and job performance as dependent variables were measured using multiple leadership questionnaire by Avolio and Bass (1995) and job satisfaction survey by Spector (1985). Staff evaluation form from Fraser University was used to measure job performance. Analysis of data was then done using SPSS Version 20.0, to establish relationships among variables. Hypotheses were tested using correlation and regression to investigate relation between variables to help bring out variance in dependent variables due to independent variable data operated through SPSS. Results pointed out Transformational style as most important and had largest effect on job satisfaction and employee performance followed by Transactional style. Also, results revealed favorable linear employee job satisfaction and performance relatedness with Transformational and Transactional leadership styles. Laissez-faire style negatively influenced employee job satisfaction and performance. The study recommended that banks adopt and improve on the existing transformational style but avoid Laissez-faire. The study also recommended that more studies should be conducted on factors affecting job satisfaction and employee performance beside leadership styles. Further studies should use larger sample to establish results generalizability. Also, further research might be necessary to ascertain availability and possibility of other influential factors fostering employee job satisfaction and performance.

Organizations have different dividend payout policies unique to certain factors or conditions within and without the organization. Various studies have shown that certain factors such as firm size, profitability, liquidity and prior dividends positively influence the “dividend payout. On the other hand, factors such as liquidity, financial leverage, sales growth and business risk have a negative effect on dividend payout. The objective of this research was to examine the influence of select firm-specific factors on the dividend payout ratio decisions of companies listed on the Nairobi Securities Exchange. It also aimed at reviewing the increasing body of theoretical and empirical studies that have endeavored to examine the range of magnitude and effects of the firm specific factors” on the dividend payout. The target population was all the listed firms at the Nairobi Securities Exchange. Secondary sources of data were employed. Panel data was utilized, data was collected for several units of analysis over varying time periods. The research employed inferential statistics, which included correlation analysis and panel multiple linear regression equation with the technique of estimation being Ordinary Least Squares (OLS) so as to establish the relationship of the firm specific factors and dividend payout. The findings were that the firm-specific factors do not have a statistically significant relationship with dividend payout and they cannot be utilized to significantly predict dividend payout. Further findings were that profitability, leverage, and growth neither have a statistically significant relationship nor association with dividend payout. Policy recommendations are made to the CMA and NSE, and by extension, the National Treasury, not to focus on firm-specific factors when endeavoring to formulate and enforce rules and regulations on dividend payout. Further recommendations were made to firm management and consultants not to focus on firm specific factors when trying to signal investors in order to boost firm value. Final recommendations were made to other stakeholders like investment banks, equity analysts, and individual investors not to solely analyze the firm-specific factors when trying to forecast dividends, which are a major component in calculating returns.

Ministry of Defence procures capital equipment to service the national military strategy as an aspect of national interest. These procurements are pivotal and prioritized based on fleeting needs and budgetary constraints hence need to adopt appropriate corporate procurement strategy for appropriation of capital equipment. MoD supports Kenya Defence Forces (KDF) by giving assurance that military assets and capabilities are reliable and readied for action in maintaining national sovereignty through security against any foreign aggression. However, sourcing of military armament and equipment in Kenya has been presided over by ill-informed partisan political deliberations other than expert and improvement-geared critical capacities and capabilities in line with future threats. This study sought to establish the development of capital equipment acquisition strategies and national security by analyzing sourcing approaches. The goal was to create better understanding of the current environment facing KDF in acquisition processes and involvement of distinct stakeholders to concentrate efforts on improving sourcing strategies and/or development of local industry through the study findings. The findings can be extrapolated for knowledge base, improvement on quality/savings on procurements, international security, markets for military hardware and technocrat approaches to military asset acquisition imperatives as a special concept of Public Procurement. To understand the precepts, perceptions and global principle, comparative assessments of military procurements in the world/regions were explored and further hunching on certain procurement theories including Institutional, Network, Bureaucracy and Innovation-oriented Procurement Theories have been deliberately highlighted. For instance, India has extensively used the last theory to make great leaps in her military industry and procurement enabling great technological transfers from other parts of the globe. A qualitative research design was adopted consisting of survey method of data collection, comparison and findings complemented by statistical probabilities. Senior staff of MoD and Procurement Officers at Defence Headquarters (DHQ) were enlisted to draw representative sample. One hundred and fifty respondents were obtained and provided data through a questionnaire. Factors considered to draw the sample included education level, departmental/military rank and period of service. Questions answered varied from sourcing strategies, supplier relationships, budgetary implications and utilization of allocations. Among other key findings, it was apparent that innovation policies, economic accountability, research/development investiture, bureaucracy reduction, redundancies elimination, better contract management and increased training for procurement staff prevailed. The study strongly recommended e-procurement, best-value sourcing and technology research strategies. Largely, respondents opined that limitations were impediment poor infrastructure, corruption, poor supplier relationships and low investment to research/development.

Effective monetary policy should promote return on investment and positive trend of share prices among listed companies. This calls for in-depth understanding of how monetary policies impact financial markets, which would in turn impact financial asset prices and patterns. Hence, main objective of this research in evaluating effect of monetary policy tools on share performance with focus on banks listed in Nairobi securities exchange. This study was based on international Fisher effect, interest rate parity and arbitrage portfolio theory. The reseach relied on time series data. Time series analysis was applied to analyse the data. KNBS and CBK annual reports were the sources of secondary data for this study. Monthly data was adopted. Stationarity tests were carried out and vector autoregressive model was fitted. Descriptive statistics and time series analysis analyzed the data. There was positive effect of central bank lending rate and money supply on share performance. Cash reserve ratio and open market operations has a negative effect share performance. Open market operations have positive effects on share performance. The study concludes, that the rate at which central bank lends, leads to a positive result on share performance, especially of those banks listed in Kenya. On the flipside, an increase in cash reserve ratio, negatively impacted on the share execution for the same banks. Whereas, an increase in open market operations increases share performance of listed banks. The country would also experience negative impact if money supply decreased. It can be recommended that there is need for policy makers to evaluate the extent of co-movement between monetary policy tools and share performance of listed banks so as to develop policies that would aid in achievement of the roles of the banking sector

The study examines how participatory communication was done on formulation of Public Finance Bill 2019 by Nairobi County Government. The major aim is to understand whether participatory communication in policy formulation is collaborative, engaging and the public input is sought in all stages in accordance to the constitution of Kenya 2010. Article 118(1)(b) and 196(1) of the Constitution calls for Meaningful Public participation at both National and County Government levels. The study utilized explanatory sequential Mixed Method research methodology. Business, organizations, Special Interest groups, lobby groups and policy implementers who participated in Public Finance Bill 2019 comprised the study population. The quantitative data was obtained from the documents reviews and analyzed using descriptive and inferential statistics. In addition, qualitative data was generated from a sample of 10 participants who participated in the formulation of public finance Bill 2019 and respondents on the Nairobi County governments. Further, Qualitative data derived from County government respondents’ key informants was transcribed and arranged into meaningful themes which were coded for content analysis. The data collected informed the findings of the study and conclusions were made based on the findings on the process of formulation of Public Finance Bill 2019. The findings show that participatory Communication is a concept that is not fully understood and comprehend by the public Institutions and there is little influence of organizations and groups inputs on Bill formulation process. Additionally, in as much as convectional media especially Newspaper Notice adverts played role in informing organizations and groups that participated on the Public participation events, it was not the most effective media channel for communication. Interpersonal form of Communication played a key role on information dissemination to targeted Organizations and groups during policy formulation process. The study recommends training of County Government Officials and organizations and self-help groups involved in policy formulation process on what constitute quality public participation process in order to formulate better policies. Similarly, there is need for additional resources to Public Institutions to support public participation process as well as passage and enactment of laws and policy guidelines that enhance the public participation process.

This study focused on the impact of insurgent groups on human security in the Middle East region for the period 2010 to 2020. Objectives of this study included: examining the place of insurgent groups in the Middle East regional relations since 2010, finding out the impact of insurgent groups on human security in the Middle East since 2010 and comparing the impact of insurgent groups on human securities between Syria and Yemen in the period 2010 to 2020. The study was anchored on the rational choice theory. Descriptive survey research design was employed in this study and both primary and secondary data used. The target population of the study included people in the civil service, media and civil societies in Syria and Yemen who had worked in the country in the period 2010 to 2020. Data collected was analyzed using descriptive statistics and regression analysis. Findings of the study established that insurgent groups have played a great role in defining economic, political and security regional relations in the Middle East over the past one decade. Through their activities, the groups have intensified religious relations amongst the countries but have consequently adversely affected political relations and economic relations in the region. Findings of the study further established that insurgent groups had led to an increase in human insecurity in the Middle East region since 2010. By orchestrating civil wars and taking part in conflicts with other groups in the region, insurgent groups have increased economic insecurities, personal insecurities, political insecurities, food insecurities, health insecurities and environmental insecurities. The impact of insurgent groups on human security in Syria and Yemen did not vary widely as established in the research study. Though few differences were seen in the magnitude of the impact on personal security as judged by the number of people displaced and those whose lives has been lost, many similarities have been identified in the motivations of the insurgent groups, strategies employed, nature of operations and the counterinsurgency measures employed by governments. The researcher concluded that insurgent groups have greatly defined regional relations in the Middle East and hold an important place in as far as the history of the region is concerned over the past decade. The insurgent groups through violence, destruction of property and strategic influences have continued to adversely affect livelihood in the region; displacing many people, resulting to the loss of lives, destroying millions worth of property and curtailing economic development in the region. The researcher has presented recommendations and suggestions for further studies which are included in this research paper.

Conscious to the prevailing challenge of poor governance in Africa and the opportunities presented by technology through social media, this study seeks to critically analyze the challenge of attaining good governance in Africa and what role technology specifically social media can play to address this challenge in Kenya and Mauritius. This project was guided by three objectives: to critically analyze the challenge of attaining good governance in Africa, to assess and analyze the key factors hindering the attainment of good governance in Kenya and Mauritius and to critically examine the impact of social media in addressing the challenge of attaining good governance in Kenya and Mauritius. Conversation and debate on good governance remains one of the oldest debates that African states continue to struggle with to date. It is clear that the much hyped transition to liberal democracy in Africa in the 1990s did not translate into ensuring good governance in the econtinent and a happy life for Africans. As the study has revealed, despite significant gains made, some of the old challenges such as bad leadership, weak institutions, corruption, electoral fraud, lack of constitutionalism, suppression of individual rights and freedoms still continue to persist. At the same time, introduction of competitive elections has manifested the challenge of negative ethnicity in many countries making some of these countries to slide into civil conflicts. As a result of the challenge of attaining good governance, some countries like Bukina Faso are contemplating returning to authoritarianism. While acknowledging the gains made in Africa, the study argues that transition to liberal democracy in Africa might have been necessary, but it has not translated into good governance and as a result there is need for African scholars to engage in a program of rethinking the application and practice of liberal democracy in Africa and how good governance can be operationalized in the continent. This research has also been able to test how good governance infrastructure in Kenya and Mauritius are; and noted that in an effort to attain good governance, states should not be preoccupied by the quantity or ideology of regimes but rather by the quality, efficiency, effectiveness and intelligence of beauracracies that can deliver on policy objectives. The project recommends that policy makers moreso the public officials to focus on the process of implementation of the already existing legal and policy frameworks to further operationalize good governance in Kenya, Mauritius and Africa at large. At the same time, the wave of globalization and advancement in technology has also presented Africa with an excellent opportunity by empowering many citizens to be able to participate and have their voices heard on various issues that affect Africa’s governance infrastructure. This opportunity has been presented in form of internet based applications normaly referred to as social media. Social media has become a very powerful tool in advancing good governance in the world over, and very instrumental in some African countries like Kenya. To this end, the study has been keen on bringing out the role that social media can play and the impact it can have on attaining good governance specifically in Kenya and Mauritius. In retrospect, the study argues that social media has played a key role in addressing the challenge of poor governance across the globe and if used well and responsibly, it can have a positive impact in advancing good governance in the two countries. However, it is important to note that social media is a double edged sword that can cut either way if not used responsibly. It can polarize societies, bring instabilities and make societies ungovernable. It is imperative that communications authority come up with policies that will ensure that social media platforms are not used to spread hate and divide the society.