Strategy implementation involves organization of the firm's resources and motivation of the staff to achieve objectives. Organisational’s performance is the measure of standard or prescribed indicators of effectiveness, efficiency, and environmental responsibility such as, cycle time, productivity, waste reduction, and regulatory compliance. The objective of this study was to assess the relationship between strategy implementation and performance in commercial banks in Kenya. The study was a cross-sectional survey as it sought to describe data and characteristics about the population or phenomenon being studied. The target population for this study involved all the commercial banks operating in kenya. Both primary and secondary data was collected for the purpose of this study and analysed using descriptive statistics. From the study findings it was clear that strategy implementation influences organisation performance where organization use various measures such as organization use projected performance of competitors, organization goals, Past performance of the business and projected performance of organisation in other industries to access their performance. On financial performance, the study established that implementation influence organization financial performance positively. The study concluded that implementation influence organization financial performance positively to a great extent resulting to increased organization profitability, business turnover and volumes of sale. On organization growth the study establishedthat strategy implementation influence organisation growth at great extent. The researcher used questionnaires with both closed and open ended questions to collect data. Closed ended questions have the disadvantage of limiting the responses whereby the respondent is compelled to answer questions according to the researcher’s choice. However to mitigate this limitation the researcher ensure that the questions were well thought out and comprehensive enough to cover all important aspects of the study objectives. The study recommended that for the organization to perform effectively on its financial performance clear strategies that guides it operation should be formulated and guideline be provided to all concerned department in order to eradicate occurrence of compromise. On financial performance, the study recommended that in order for organization to achieve their goal such as profitability, large market share and customer retention, there should be effective strategies that cater for the customer need organization goal and environmental changes. The study also suggested further research to be done on impact of strategy implementation on organization performance in other institutions in order to depict reliable information that illustrates real situation in across all sectors.

The concept of corporate social responsibility, its programs and the factors that influence choice of corporate social responsibility programs in commercial Banks in Kenya. The literature reveals different views on the programs of corporate social responsibility and the factors that influence those choices. This study sought to determine the factors that influence choice of social corporate responsibility among commercial banks in Kenya. The study will be of significance to the commercial Banks in Kenya as they implement their corporate social responsibility. The practitioners will be more informed in their roles of administering corporate social responsibility. The study was conducted using a descriptive cross sectional census survey method, which was appropriate as it enabled the researcher to obtain information from a broader category of commercial Banks for comparison purposes. The design also works well where the respondents targeted are few in number. The target population was all the forty three registered Commercial banks in Kenya. The instrument of data collection was a semi structured questionnaire administered to persons in charge of social corporate responsibility. The data collected was analyzed using charts and graphs to identify the order of their significance. The study found out that majority of Commercial Banks is highly influenced by financial capability then followed by everybody is involved in social corporate responsibility, communication among stakeholders, technology level, market competition, company objective, rating purposes by commercial banks association of Kenya, organizational structure and ethical consideration with order of significance. The study findings also found that there in significant influence of government policies, political instability, resource allocation, and literacy of commercial banks staffs, role allocation, incentives of employees and Staff retention to the choice of corporate social responsibility program in commercial banks. The study recommends that there is need to frequently do corporate social responsibility so as to have the good will from the community they operate from. A further study should be done on the effectiveness of Corporate Social Responsibility in the Commercial Banks in Kenya.

Kenya has encountered low levels of private domestic savings rate averaging 8% over the past one decade and half. This has happened despite Kenya implementing financial liberalization policies since 1991. This study determines the effects that interest rate liberalization, opening of financial sector to foreign investors and credit control elimination has had on private domestic savings in Kenya using annual time series data for the period 1975-2011. Error correction model (ECM) was utilized to capture the short run dynamics toward the long run equilibrium. The results indicate that interest rate liberalization together with credit control elimination have a negative effect on private domestic saving. Opening of financial sector to foreign investors was found to positively affect private domestic savings. This implies that financial liberalization has worked only through financial intermediation. The results of the study therefore suggest the need to formulate policies to change the negative influence of real deposit interest rate to positive influence and promote financial deepening.

This study compares ordered logit and ordered probit regression models in identifying patient-level factors that influence his/her satisfaction with quality of health care. Patient satisfaction is a desirable outcome of a health system and is the most common metric used to assess the quality of healthcare provided. The data used was collected from public and private/faith-based health facilities in Kenya. The target population was the patients exiting the health facilities after receiving healthcare. The outcome variable was measured on a five-point ordinal scale: Very Satisfied, Somewhat Satisfied, Neutral, Somewhat Dissatisfied and Very Dissatisfied. The sociodemographic factors considered as influencing the outcome measure are the patient’s age, gender, education level and employment status as well as facility type and ownership of health facility. The study demonstrated that, provided that the proportional odds assumption is met, the ordered logit, and the ordered probit regression models produce relatively similar results. It also highlighted that patient’s age, gender, education level and employment status are significant in predicting his/her satisfaction with quality of healthcare received. Since the two models considered produce similar results, either of them can be used to model patient satisfaction data.

This study was carried out to assess the influencing factors in accessing agricultural information through selected ICT channels. Systematic sampling technique was used to interview 217 sample population from Ndiuni sub location, Ndeiya Location. Structured pre-tested questionnaires were administered in a face-to-face interview. Data was collected and analysed in line with the study objectives by presentation using percentages and frequencies in tables, bar charts, graphs and pie charts. Chi-square test was employed to test for the hypothesis. The tests revealed that significant relationship exist between age and education of smallholder farmers and access to agricultural information through different ICT channels. Findings indicated that the radio was the most used channel especially by farmers above the age of 40 years and those with little formal education. This was attributed to the radio programmes being presented in Kiswahili and the local language. Television, Mobile Phones and Computers were preferred by young farmers below the age of 40 years. Despite majority of the farmers owning mobile phones, the study revealed that the channel was used mostly for chatting and money transactions as compared to searching for information. However, a few young farmers below the age of 40 years and with college and university education use the mobile phone to access agricultural information. Overall, this study established the need to create awareness and to educate farmers on the use of ICT information communication channels especially the computers. The information generated from the study will be used by information providers to make appropriate contribution to the advancement in dissemination of information to the farmers for knowledge in better farming practices. The study will enhance adoption of agricultural technologies for improved livelihoods.

The Kenya Vision 2030 identifies electricity as a development enabler. Electricity plays a key role in development. It facilitates technological advancements therefore enhancing gains in productivity. Generally, electricity improves social advancement and attains faster economic growth. However the demand for electricity exceeds the supply. The study investigates the determinants of demand for electricity and their current elasticities using secondary annual time series data from 1971 to 2012. The study employed OLS and the Error Correction Model in data analysis. The results indicated that in the short run industrial production and kerosene prices were key factors that determine demand for electricity. The government therefore should strive to improve efficiency through modernizing industrial technology. The government should also increase production of electricity to match the industrial growth.

The main objective of this study was to establish the effect of financial deepening on the performance of the Youth Enterprise Development Fund (YEDF). The performance of the YEDF was measured by the growth rate of the loans advanced while the financial deepening indicators included the reduction of transactions costs, the ratio of loans to GDP and the ratio of loans to deposits. The study adopted a descriptive survey design and relied on secondary data collected from the financial statements, news bulletins and websites of Central Bank of Kenya (CBK) and YEDF. The collected data was cleaned and coded before being analyzed by use of the Statistical Package for Social Sciences (SPSS). The data analysis techniques included descriptive statistics like the mean, minimum, maximum and standard deviation. In addition, inferential statistics like correlation analysis and regression analysis were also used to establish relationships between the dependent and independent variables. The findings were presented in tables, line graphs and bar graphs. Major research findings indicated that the growth rate of the loans advanced by YEDF was on a steady increase in the period between 2008 – 2012. In addition, the findings indicated that the financial deepening indicators affected the growth rate of loans advanced by YEDF to an extent of 78.02%. The three factors (reduced transaction costs, ratio of loans to GDP and ratio of loans to deposits) also had a positive correlation with the growth rate of loans at YEDF. However, only the ratio of loans to deposits had a significant correlation at a level of significance of 0.01. The main conclusion was that the growth rate of loans advanced by financial intermediaries was highly determined by the financial deepening variables like reduced transaction costs, high ratio of loans to GDP and high ratio of loans to deposits. The researcher recommends improvement of the allocation policies to guard against bad debts and waste of funds. There is also need to come up with a policy to ensure that the loans advanced are equitably distributed across the country to ensure that the advantages of economic and financial development are reaped by a wider population. The researcher suggests that a similar study be carried out to come up with a model to guide the establishment of the appropriate lending rate that can ensure that the YEDF loan portfolio keeps growing and that the lending rate is responsive to the market forces of supply and demand while still recognizing the social nature of the fund.

The role of finance and accounting professionals is changing rapidly. Finance professionals are taking on greater management and consulting responsibilities as well as advising senior management on financial matters and taking a more active role in analyzing corporate operations. The purpose of the study was to investigate the factors influencing the changing role of finance professionals in the quoted firms in Kenya. The study used descriptive survey design. The population of this study was comprised of all the 60 firms quoted in the NSE. Due to the nature of the population- small and variable, no sampling was done and hence this was a census study. The sample under study was therefore all the 60 firms quoted in the NSE. The study collected primary data through the use of a researcher assisted questionnaire. Administration of the questionnaires was done by the researcher. The collected fully filled questionnaires were first edited then coded to facilitate statistical analysis. The data was analyzed through descriptive and inferential analysis through the help of Statistical Package for Social Science (SPSS) and the findings were then be presented in form of frequency distribution tables, bar charts and pie charts. A regression analysis was conducted to test and establish the form of relationship between variables. The study found out that the need to satisfy greater demand for public accountability and transparency, the pressure from stakeholders and need to manage shareholders relations influenced finance professionals roles. Increased regulations, technical specialized skills, changing information technology and competitive business environment had also influenced the changing roles. The study concludes that stakeholders' scrutiny, technical skills, strategic role, increasing regulation and the competitive business environment influence the changing roles of finance professionals in companies listed in the NSE. There has been greater demand from the public on accountability and transparency and reporting requirements that have created pressure on the finance professionals in a bid to meet the stakeholders’ demands as well as increasing the companies’ returns. The study recommends that the change in the role of the finance professionals should be supported by a change in required competences; Accounting and finance bodies also need to make changes on the finance courses. curriculum so as to ensure that the skills acquired meets the market demand.

This project designs and formulates prices and the inherent factors used in contingent securities. Participating contingent contracts are most popular in most financial jurisdictions. They present many different covenants and depend on sector regulations. This work tries to design the new participatory contract although structurally unchanged from the traditional contracts, the stochastic nature of the interest rates are taken into consideration in the design of this new contract this research envisages. After an in-depth analysis of the factors stochastic or otherwise but with a guaranteed rate matching the rate of interest in Kenyan government bonds, we prove that this new type of contract can be valued in closed form when interest rates are stochastic and the company can default. The stochastic interest rate model used here borrows heavily from Schwartz and Gibson’s work (1989) as it is used to capture the empirical properties of the financial time series. Most of these applications are made on the assumptions that the conditional distribution of interest rates given that the log distribution of volatilities is normal. This research project aims to analyze the other side of the standard Black- Scholes and GARCH- Models and re evaluate the parameters as used in BSM Model using Stochastic Volatility models (SV) and applying the estimated rate of the interest in a two factor stochastic model to price a contingent security. The traditional BSM pricing assumption of interest rate is looked upon as continuous time processes and the re evaluation is done using the continuous time model of SV. These models are derived and applied on the two factor security pricing formulae. The standard SV Model is examined and applied in statistical sense- linear model. The revised stochastic interest rate model is then applied to the pricing of contingent claims using the Nairobi stock exchange prices as the underlying security. Emphasis is laid on the estimation of the parameter interest rates that is looked upon as a stochastic random variable depending on time and other factors the motivation thus is the inherent failures of the traditional option pricing Models as BSM Model. This is due to the realization that most of parameters used in the standard BlackScholes and assumed constant and are in real sense are time dependent variables and should be looked upon as such given the complex business environment that requires effective pricing that reflect this modern challenges and factors. The study therefore aims to go beyond the norm by doing in depth analysis into the Black-Scholes pricing formulae and the time proven time series model- GARCH Model and concentrating on the synergy between the two and proposing a more robust model for security pricing

While recognizing the need for emergency powers, the study acknowledges the tension that exists between emergency powers on the one hand and the principles of democracy and human rights on the other and examines whether it is possible to constitutionally provide for and control the exercise of emergency powers without constraining the government’s ability to adequately respond to unforeseen threats, while avoiding doing permanent damage to the norms and values underpinning constitutional government. The study examines the arguments presented by those who hold the view that emergency powers cannot be regulated by law and those who maintain that emergency powers can and should be integrated into the state’s legal order. The study argues that the exercise of emergency powers can be regulated by law and suggests that it would be prudent to have detailed legal provisions providing for emergencies so that the extent and limits of the state’s emergency powers may be known in advance to prevent any abuse of emergency powers for political or any other ulterior purposes. The study argues that the theory of written constitutionalism is incompatible with emergency exceptions. It argues that the application of the Doctrine of Civil Necessity in Kenya would violate not only the principle of the supremacy of the Constitution but also the principle of legality which requires that state authority be exercised pursuant to the Constitution and laws enacted in conformity therewith.It expresses the view that no legal justification exists for the application of the Doctrine of Civil Necessity as the law cannot possibly support actions which are contrary to it. The study concludes with the finding that Constitutionalism is possible in times of emergency where the Constitutional Framework preserves the balance of powers between the various arms of Government even during the pendency of a state of emergency. It proposes legal reforms to decentralize the power to declare a state of emergency, clearly define the kind of situations that justify the invocation of emergency powers, provide for differentiated emergency powers and strengthen Parliament’s capacity to monitor the exercise of the executive’s emergency powers.