School of Business and Economicshttps://repository.maseno.ac.ke/handle/123456789/13112024-03-29T02:00:06Z2024-03-29T02:00:06ZEffect of behavioral biases on the relationship between real estate investment strategies and operational efficiency of real estate firms in Nairobi county, KenyaOLIVIA Adhiambo Achienghttps://repository.maseno.ac.ke/handle/123456789/56222023-02-14T13:04:10Z2022-01-01T00:00:00ZEffect of behavioral biases on the relationship between real estate investment strategies and operational efficiency of real estate firms in Nairobi county, Kenya
OLIVIA Adhiambo Achieng
Despite several interventions that help cushion developers in Kenya, the supply of housing units stands at approximately 50,000 a year against an annual demand of 250,000. Over the past five years’ operational efficiency has been on the downward trend with rental yield dropping from 7.6% in 2017; fell to 7.4% in 2018, to 7% in 2019 than 4.0% in 2020 and 6.1% in 2021 so was occupancy rate reducing to approximately from 86% in 2017 to 74% in 2021.Personality traits of investors have been blamed for these trends since managers are biased in their investment decision making thus creating investment portfolios that are familiar to them. This study sought to analyze this trend with an analysis of three variables; behavioral biases, real estate investment strategies and operational efficiency. Theoretical literature illustrates primary relationships between these variables and indicates that there is indeed a relationship between real estate investment strategies and operational efficiency, however, the moderating aspect of behavioral bias on the relationship between the two variables has not been previously studied. Behavioral bias was examined to identify its effect on the relationship between real estate investment strategies and operational efficiency of real estate firms in Nairobi County. The specific goals were to establish the effect of behavioral biases on operational efficiency, to determine the effect of real estate investment strategies on operational efficiency and to assess the moderation effect of behavioral biases on the relationship between real estate investment strategies and operational efficiency of real estate investment firms in Nairobi County. The study employed a correlational survey design and census sampling technique was used to draw a sample of 234 active and registered firms in Nairobi County. Primary data was collected using questionnaires and reliability tested using Cronbach Alpha’s method with a 0.7 cut off. Face validity was done by pre-testing 10% of the population which did not form part of the sample whereas convergence and divergence validity were measured using correlations. Data was analyzed using statistical techniques such as hierarchical regression, frequencies, means, and standard deviations. Pearson’s product moment correlation coefficients tested for linearity and independence of variables tested using the Durbin-Watson statistics. The study found out that behavioral biases and real estate investment strategies had a positive and significant effect on operational efficiency with an explanatory power of R²=27.1% and R²=60.3% respectively. Behavioral biases and real estate investment strategies as predictor variables had a significant R² of 36.2%; (p<0.01). The R² of incorporating the interaction term between behavioral biases and real estate investment strategies was R²=42.4% (p<0.01; change of R²=6.2% (p<0.01) implying that behavioral biases moderates the relationship between real estate investment strategies and operational efficiency. However, the moderation effect of behavioral biases reduced the strength of the relationship between real estate investment strategies and operational efficiency from 60.3% to 27.1%. In conclusion, behavioral biases diminish the relationship between real estate investment strategies and operational efficiency. The study recommends firms to focus on making informed and accurate investment decisions so as to create investment portfolios that will enhance their operational efficiency and focus on eliminating the negative effects of behavioral biases affecting their decision-making. This study has brought new knowledge that indeed behavioral biases moderate the relationship between real estate investment strategies and operational efficiency but reduces the strength of this relationship and it will be of importance to investors and government in rational investment decision making and policy formulation.
2022-01-01T00:00:00ZModerating influence of job satisfaction on the relationship between employee resourcing practices and performance of academic staff in Kenyan public universitiesROBBY, Wyckliffe Otienohttps://repository.maseno.ac.ke/handle/123456789/55682023-01-09T12:21:05Z2022-01-01T00:00:00ZModerating influence of job satisfaction on the relationship between employee resourcing practices and performance of academic staff in Kenyan public universities
ROBBY, Wyckliffe Otieno
Public universities spur Kenya Vision 2030’s pursuit for globally acclaimed education, training and research. However, higher education stakeholders including World Bank, employers, Kenya’s Commission for University Education and scholars fault the quality and relevance of their academic programmes, especially during the massification era. Decline, which has negative effects on university graduates, is allegedly attributed to: excess workload; deficient recruitment, promotion and retention criteria; and academic staff’s incompetence – all theoretically related to Employee Resourcing Practices (ERP) and Job Satisfaction (JS). Studies on Human Resource Planning Practice (HRPP) and Academic Staff’s Performance (AcSP) exclude HRPP descriptors like: Business and Scenario Planning; Demand Forecasting; Supply Forecasting; Forecasting Future Requirements and Action Planning. Recruitment Practice (RP) indicators like: Examining Vacancy; Locating, Making Contact and Attracting Candidates are not comprehensively investigated in the same way as Selection Practice (SP) descriptors like: Candidates’ Assessment; Choice and Offer of Employment. Academic Staff’s Performance (AcSP) indicators like: Quality of Teaching and Learning; Research and Publication; Administration and Responsibilities; and Community Engagement are ignored. Studies on JS/AcSP relationship fail to comprehensively investigate facets of JS like: Achievement; Recognition; Responsibility; Advancement Opportunity; Work Itself and Working Conditions; Comfort With Pay and Benefits; and Company Policy and Administration. Most studies relating HRP, RP and SP to Employee Performance (EP) demonstrate that they account for <60% variation in EP. <100% variance in EP thus possible moderation by JS whose interaction has previously been investigated variously using variables other than current ones. While JS has theoretical relationship with ERP and EP, its moderating influence on relationship between ERP and the AcSP in Kenyan public universities (KPUs) has not been empirically demonstrated, hence this study. Specific objectives were to: establish influence of HRPP on AcSP; determine influence of RP on AcSP; assess influence of SP on AcSP; examine the influence of JS on AcSP; and to establish moderating influence of JS on relationship between ERP and AcSP in KPUs. Anchored on Decision Making Theory and supported by Resource Based View; Human Capital Theory; and Two-Factor Theory, the study adopted cross-sectional correlational study design with a target population of 1,653 in 14 chartered public universities established between 2009 and 2019 that were chosen due to staffing challenges therein. Multi-stage sampling technique yielded a final census of 158 academic heads of departments having used 20 in piloting. KPUs which experience greater quality challenges comprise 72% of total university academics. Primary data was collected using semi-structured questionnaire while secondary data obtained from relevant secondary sources. Using Cronbach’s α, the questionnaire was consistent at 0.796 (SD=0.067). Content validity was ensured by reviewing literature within study concepts and corroborated by experts. Pearson’s r revealed that all items were valid (construct) except one that was excluded from final analysis. Multiple regression analysis revealed that the four variables were significant predictors of AcSP and accounted for variations as follows: HRPP =F(4,131)=21.650, p=.000, (Adjusted R2=.380); RP=F(2,133)=9.890, p=.000, (Adjusted R2=.116); SP=F(2,133) =24.226, p=.000, (Adjusted R2=.256) and JS=F(7,128)=78.929, p=.000, (Adjusted R2=.802). JS explained 1.4% variance in the ERP/ AcSP relationship (ΔR2=.014, ΔF (1,132) =11.158, p=.001). HRPP, RP and SP significantly influenced AcSP. JS moderated ERP/ AcSP relationship. This implies that KPUs can enhance (AcSP) by effectively acquiring and putting in place effective JS measures since ERP and JS work complementarily. Findings will benefit HRM practitioners and management of public universities in policy formulation and practice. Scholars will gain knowledge and premise future research on these findings. Performance of Academic Staff will be enhanced with the implementation of the study’s recommendations. It is recommended that KPUs intensify the following aspects of ERP and JS since they significantly influenced AcSP in KPUs: Demand Forecasting and, Forecasting of Future Requirements and Action Planning; Examining Vacancy; Candidates Assessment and, Candidates Choice and Offer of Employment; Job Satisfaction of Academic Staff having effectively acquired them.
PhD Thesis
2022-01-01T00:00:00ZDeterminants of revenue management practices and their Effects on the financial performance of star-rated Hotels in KenyaNjue, Michael Murimihttps://repository.maseno.ac.ke/handle/123456789/55622022-12-19T15:29:21Z2022-01-01T00:00:00ZDeterminants of revenue management practices and their Effects on the financial performance of star-rated Hotels in Kenya
Njue, Michael Murimi
Revenue management (RM) has garnered huge attention in management science research. Past RM researches have hypothetical and methodological inadequacies, such as few variables of the study, errors in measurements, and the model being studied leading to conflicting results. The predicted association between the determinants of RM practices studied and financial performance was not explained exhaustively. Hence, this study's specific objectives were to: establish the determinants of revenue management and their effects on revenue management practices in star-rated hotels in Kenya; examine the revenue management practices and their effects on the financial performance of star-rated hotels in Kenya; determine the determinants of revenue management and their effects on the financial performance of starrated hotels in Kenya; investigate the mediation role of revenue management practices on the relationship between determinants of revenue management and their effects on the hotel financial performance in Kenya. The study employed a quantitative research approach using a cross-sectional survey design. The study used a sample of 138 revenue managers from 215 targeted star-rated hotels. Self-administered questionnaires were used to collect data, validated using a pretest of 32 questionnaires and reliability using the Cronbach's Alpha test. The pretest result was 0.7, which was acceptable, and some improvements were made to the questionnaire before the final data collection. The study adopted a Covariance Based-Structural Equation Modeling and regression models approaches were used to analyze the quantitative data and test the hypothesized relationships between the key variables. Data screening, the unidimensionality of the model, and testing the validity of the factors were done. The proposed framework was evaluated using Confirmatory Factor Analysis; a modified model was validated and deemed a good fit for the data and thus accepted. For objective one, the findings revealed that determinants of revenue management explain variation in RM practices as follows, RM policy and implementation (20.9%), the status of RM practice (40.1%), RM tools (20.6%), Pricing techniques (17.6%), RM team (33.2%), RM social media integration (38.5%), non-pricing techniques (25.1%) and RM data and information (29.7%). The model 1 fit indices of chi-square=68.328(23df) p=.064 CFI=.952 RMSEA=.045 NFI=.983 indicated that the model was acceptable. For objective two, the RM practices explain variation in hotel financial performance as follows profitability (30.5%), solvency (45.5%), liquidity (17.2%), valuation (20.2%), and efficiency (25.8%), and general financial performance (26.6%). The model 3 fit indices chi-square=105.1 (93df) P=0.06 CFI=.97 RMSEA=.018 NFI=.97 indicated that the model was acceptable. For objective three, the determinants of revenue management explain variation in financial performance of star-rated as follows, profitability (42.1%), solvency (24.2%), liquidity (20.0%), valuation (13.2%) and efficiency (15.0%), general financial performance (46.7%). The model 3 fit indices of chi-square=43.813 (36) p=.076 CFI=.98 RMSEA=.042, NFI=.98, indicated that the model was acceptable. Finally, for objective four, RM practices mediate the relationship between determinants of revenue management and explain 57.7% variation in the financial performance of star-rated hotels (R=0.577,p=.05), the model 4 results indicated that introducing a vector mediator, the beta value for the determinants variable dropped to 0.127 from 0.457 (in the direct correlation). The study concluded that there is an association between determinants of revenue management, RM practices, and financial performance. The study revealed that to effectively execute and gain from RM practices and diagnose and design appropriate responses for declining hotel occupancy rates, it is vital to address the match between key variables and hotel financial performance in Kenya. The research could serve as a foundation in academic fraternity and future scholarly works on related subjects and may expand opportunities for research in areas not adequately covered by the survey. The findings may be used in developing policies that may guide into adopting a framework that emboldens the hotel sector in understanding the revenue management practices that significantly influence the sector's financial performance. A more extensive longitudinal study employing various approaches would be good to evaluate whether the RM practices examined here and their influence on financial performance are constant.
2022-01-01T00:00:00ZExchange rate pessimism in Tanzanian macroeconomic policyMUBA, Eustach Vitalishttps://repository.maseno.ac.ke/handle/123456789/50112022-02-21T08:17:51Z1989-01-01T00:00:00ZExchange rate pessimism in Tanzanian macroeconomic policy
MUBA, Eustach Vitalis
To correct balance of payments disequilibria many developing
countries are experiencing, attention is focussed on visible
trade deficit because capital markets are almost non-existent,
capital mobility is strictly controlled and service trade is
underdeveloped. Economic theory recommends devaluation if quicker
response is needed and the destabilizing effects of contraction
of money supply is to be avoided. Results of Marshall-Lerner
condition test of some empirical studies indicate that
devaluation may not be effective in developing countries thus
making policy makers pessimistic on its use.
This study resolves the contradiction between theory and
empirical findings by using modified assumptions of Marshall-
Lerner condition which suit developing economiea. It studies the
stability of price elasticities of demand for imports in the
Tanzanian economy during the period 1954-1981 with respect to
changes in trade policy during the period. The study takes a
trade defici t as t.he initial condi tion and denominates all trade
in local currency. Lagged regression models are used to capture
the delay between price change and response for both exports and
imports. Real producer prices and quan t i ty of agricultural export
crops produced are used. For imports, relative unit value and
quantity of commercial imports are used.
iii
•
The study finds that elasticity of supply of exports are
positive 0.68 with a standard error of 0.247. Elasticity of
demand for"imports are positive, long-run two year elasticity is
\
1.156 with standard error of 0.399 and for period 197~-1981, the
three year elasticity is 1.528 with a standard error of 0.599.
Trade policy and abnormal rise in prices of petroleum products
had no effect on the elasticities. For devaluation to be
effective if the response of only exporters is to be relied on
the ratio of value of imports to value of exports has to be less
than 1.2. If the response of only consumers of imports is to be
relied on, the ratio should be less than 1.9.
The findings confirm the potential for devaluation to
correct a trade deficit in Tanzania.
Donation
1989-01-01T00:00:00ZStructure and performance of fish Markets in the Lake Victoria region, KenyaBYARUHANGA, JohnKhttps://repository.maseno.ac.ke/handle/123456789/43532022-01-17T08:43:54Z2002-01-01T00:00:00ZStructure and performance of fish Markets in the Lake Victoria region, Kenya
BYARUHANGA, JohnK
This study investigates the structure and performance of fish markets in Kenya's Lake
Victoria region. The primary data used to analyse the market structure is based on a
multistage survey of 465 respondents in Busia, Siaya, Kisumu and Homabay districts,
but market performance is evaluated using time-series data from government
documents. The time series data capture changes in fish prices, supply and
profitability over a period of 25 years before (1975 - 80) and after (1981 - 99) the
Lake Victoria fisheries transformation.
The results show that the retail trade in all districts and fishing in Kisumu and
Homabay, are highly competitive. However, the wholesale fish markets in Busia,
Siaya and Homabay exhibit oligopolistic tendencies. The study finds that traders'
distributive margins were in excess of marketing costs, particularly, in Siaya and
Busia districts where wholesale gross profits were substantially above average costs.
Further, regression results show a positive supply slope indicating that fishermen
respond to price incentives. The structural transformation of the lake region has
affected the Nile perch fishery most, in terms of catch expansion and profitability.
The findings have distinct policy relevance in several respects. First, they point to the
need to remove distortions that characterize wholesale fish markets. Second, there is
need for de-concentration and competition policies to reduce market power of the
dominant fishermen and wholesalers. In facilitating entry, caution should be
exercised to avoid over-capitalization and depletion offish stocks.
Given the sizeable price elasticities of supply of fish species, price can be an
important ingredient of the Lake Victoria fisheries management and conservation
policy. The dilemma of the fisheries policy managers, however, is whether to allow
prices to fluctuate to signal incentives to both the fishermen and consumers, or to
control the fish prices faced by the poor. The unprecedented growth of the lucrative
Nile perch export business threatens livelihoods and food security of the lake
communities who have been forced to pave way for exports. Foreign investors have
the capacity to exploit the fishery as heavily and as quickly as possible, unconstrained
by concerns of sustainability. There is thus, urgent need for a policy to control the
amount of fish exports and to ensure local food security and sustainability of the
fishery.
Thesis(PhD)
2002-01-01T00:00:00ZAnalysis of market structural characteristics, conduct and Performance of sweet potato industry in Rachuonyo South district, KenyaODONDO, Juma Alphoncehttps://repository.maseno.ac.ke/handle/123456789/43022021-11-03T07:00:21Z2014-01-01T00:00:00ZAnalysis of market structural characteristics, conduct and Performance of sweet potato industry in Rachuonyo South district, Kenya
ODONDO, Juma Alphonce
Sweet potato (Ipomea halalas L) is a high yielding crop with higher food value than many
staple food crops. Its production in Kenya is mainly concentrated in Rachuonyo South
district. To minimize market inefficiencies depicted by volatile food crop prices and to
promote growth of the agricultural sector by the year 2030, Kenya government formulated
myriad food and agricultural policies. However, implementation of the policies in the sweet
potato sub sector has faced challenges due to insufficient information on the marketing
system of sweet potatoes. The purpose of this study was therefore, to analyze market
structural characteristics, conduct and performance of the sweet potato industry in
Rachuonyo South district. Specifically, the study sought to: Identify and examine
determinants of demand for sweet potatoes in Rachuonyo south district, establish profit
models at various distribution channels of sweet potatoes in the region, examine the type of
market power exercised by sellers of sweet potatoes in the region, determine relationship
between sweet potatoes market structural characteristics and profitability of the market for
sweet potatoes in the region, establish existing relationship between competition among the
sellers of sweet potatoes and profitability of the market for sweet potatoes in the region. The
study was based on SCP paradigm and it adopted both exploratory and correlational research
designs. Population of the study included 166 farmers, 55 wholesalers and an infinite number
of retailers. A sample size of 116 farmers and 384 retailers was determined. Individual
farmers were selected using simple random sampling technique while a purposive sample of
384 retailers and a census of 50 wholesalers were taken after excluding 5 wholesalers
involved in questionnaires pretesting. Primary data were collected using questionnaires while
relevant secondary data were from documented literature. OLS technique was used to
estimate profit and demand models. Market power was determined using Lerner indices. The
study revealed that demand for sweet potatoes was determined by several factors which
differed in their magnitude of effects. These include; incomes of dominating buyers fJ=
0.504,p < 0.01 at the farm level andfJ= ·0.309,p < 0.01 at the retail market, own price (fJ=.
0.999, p < 0.01) and P = -1.688, p < 0.01 at the wholesale and retail markets respectively.
Profitability models showed that duration in business had significant effects at the retail
market (fJ = 0.647, p < 0.01) and at the wholesale market (fJ = 0.808, p < 0.01) while total
operation costs had significant negative effect on profitability at the farm level (jJ = -0.258, p
< 0.01). Barriers to entry into the market had fJ = 0.873, p < 0.01 on wholesale profits, fJ =
0.117, P > 0.05 and P = 0.003, p > 0.05 on retail and farm profits respectively. Unlike at the
farm and retail markets, high monopoly powers existed at the wholesale market (L= 0.8043).
The study concludes that demand and profitability of sweet potatoes are determined by
several factors which vary in their magnitude of effects. Sweet potato is an inferior good and
its market is imperfectly competitive. This study recommends enhanced competition at the
wholesale market. Retailers should direct their purchases to markets dominated by low
income buyers. Farmers should increase their profits by reducing their operation costs and
potential sweet potato sellers should gain hands on experience before starting their own
sweet potato businesses. Findings of this study may be used for decision-making in the sweet
potato sub sector by the sweet potato traders and other stakeholders and for further research
in the sweet potato industry in Kenya.
2014-01-01T00:00:00ZAnalysis of the effect of customer personality on Determinants of customer loyalty in the banking sector: a Survey of banks in Homabay county, Kenya.AKINYI, OnditiArvinlucyhttps://repository.maseno.ac.ke/handle/123456789/42832021-10-29T08:59:51Z2013-01-01T00:00:00ZAnalysis of the effect of customer personality on Determinants of customer loyalty in the banking sector: a Survey of banks in Homabay county, Kenya.
AKINYI, OnditiArvinlucy
Marketing management research has advocated for the establishment of determinants of
customerloyaltyto improve customer retention and organization performance. Despite consumer
behavior theory emphasizing the importance of customer personality in consumer decision
makingprocess, establishing determinants of customer loyalty has been problematic. This study
had a target population 845,000 and a sample size of 400 was selected from the population which
included customers from Equity Bank, Kenya Commercial Bank, Barclays Bank and
Cooperative Bank, to analyse the effect of customer personality on determinants of customer
loyaltyin the banking sector in Homa Bay County. Specifically, the study established the effect
of service quality, service features and complaint handling on customer loyalty and also
establishedthe moderating effect of customer personality on determinants of customer loyalty.
The study was guided by a conceptual framework involving concepts of customer loyalty and
customerpersonality which are anchored on the theory of consumer behavior. The study used
cross-sectionalsurvey design, banks were selected using stratified sampling and the customers
werepicked using simple random sampling. Respondents were met at the ATM as they carry out
their transactions. Data was collected using questionnaire and the reliability of the instrument
was tested using split-half method while validity was tested by use of experts who were the
supervisors of the researcher. Descriptive statistics, simple regression analysis, multiple
regressionand moderated regression analysis were used to analyze data. The findings show that
the independentvariables are significant determinants of customer loyalty among customers who
had not changed their banks, that is, service quality (Fo=16.234>Fc=3.860), after moderation
(Fo=8.355>Fc=3.020), service features (Fo=5.123>Fc=3.860) after moderation (Fo=3.545>Fc
=3.020), complaint handling (Fo=7.579>Fc=3.860) and after moderation (Fo=4.714>Fc=3.020)
and finally when all the determinants of customer loyalty were put together
(Fo=14.218>Fc=2.620) after moderation (FolO.905>Fc=2.390). Among customers who had
changed their banks, only service quality was a significant determinant of customer loyalty
(Fo=5.556>Fc=3.960) after moderation (Fo=5.576>Fc =3.110) with others showing no such effect
on customer loyalty. Service quality had the highest effect on customer loyalty. The study
concluded that customer personality has a moderating effect on determinants of customer
loyalty. The study recommends that bank managers should continuously train their staff on
service quality and customer personality. The study may help the bank policy makers to predict
customer loyalty using the models of customer loyalty.
Phd Thesis
2013-01-01T00:00:00ZImpact of Strategic Control Practices and Strategic Orientation On Organizational Performance of Sugar Firms in Western KenyaOJERA, B. Patrickhttps://repository.maseno.ac.ke/handle/123456789/42592021-08-02T07:43:25Z2011-01-01T00:00:00ZImpact of Strategic Control Practices and Strategic Orientation On Organizational Performance of Sugar Firms in Western Kenya
OJERA, B. Patrick
Despite strategic management advocating for the use of strategic control practices to
improve the implementation of strategic plans and organizational performance,
establishing the strategic control-performance relationship has been problematic,
suggesting failure by researchers to consider contingent variables. This study used data,
collected during the period November 2008 to May 2009 from 109 senior managers in a
census survey of 45 firms in the sugar value-chain in western Kenya, to examine the
prevalence of strategic control practices, strategic orientation types, the relationship
between strategic control and organizational performance and the moderating effect of
strategic orientation on the relationship between strategic control and organizational
performance. Descriptive statistics, bi-variate regression analysis and moderated
regression analysis were used to analyze data. The findings revealed moderate
prevalence of strategic control practices (belief control mean 2.96, std dev 0.65; boundary
control mean 2.93, std dev 0.65; diagnostic control 2.84, std dev 0.87; Interactive control
2.86, std dev 0.83). The most prevalent strategic orientation was the reactor (60%),
followed by defender (24%); prospectors (9%) and analyzers (7%). All the four levers
were positively and significantly related to organizational performance (belief ~ = 0.288,
P < 0.05, boundary ~ = 0.364, P < 0.01, diagnostic ~ = 0.358, P < 0.01 and interactive ~ =
0.393, P < 0.01). Whereas a positive relationship between strategic control system and
organizational performance was significantly moderated by strategic orientation for
boundary control systems (~ = 0.344, P < 0.01) and for diagnostic control CP = 0.265, p <
0.05), belief control and interactive controls systems showed no such effects. The results
suggest that belief control systems and interactive control systems are higher order
controls. The results of this study suggest that urgent measures are required by the firms
in the study to design strategic control systems to cope with the changing business
environment. The study contributes to validation and upgrade of the existing strategic
control theory. For managers, the study sheds light on the design and use of strategic
controls and also for public sector managers in guiding the strategic change. It is
recommended that future studies focus on the specific firms in sugar value chain and
adopt longitudinal case-study designs to establish causal relationships among variables.
2011-01-01T00:00:00ZAnalysis of the Effect of Customer Personality On Determinants of Customer Loyalty in the Banking Sector: A Survey of Banks in Homabay County, Kenya.ARVINLUCY, A. Onditihttps://repository.maseno.ac.ke/handle/123456789/42272021-07-29T09:13:52Z2013-01-01T00:00:00ZAnalysis of the Effect of Customer Personality On Determinants of Customer Loyalty in the Banking Sector: A Survey of Banks in Homabay County, Kenya.
ARVINLUCY, A. Onditi
Marketing management research has advocated for the establishment of determinants of
customerloyaltyto improve customer retention and organization performance. Despite consumer
behavior theory emphasizing the importance of customer personality in consumer decision
makingprocess, establishing determinants of customer loyalty has been problematic. This study
had a target population 845,000 and a sample size of 400 was selected from the population which
included customers from Equity Bank, Kenya Commercial Bank, Barclays Bank and
Cooperative Bank, to analyse the effect of customer personality on determinants of customer
loyaltyin the banking sector in Homa Bay County. Specifically, the study established the effect
of service quality, service features and complaint handling on customer loyalty and also
establishedthe moderating effect of customer personality on determinants of customer loyalty.
The study was guided by a conceptual framework involving concepts of customer loyalty and
customerpersonality which are anchored on the theory of consumer behavior. The study used
cross-sectionalsurvey design, banks were selected using stratified sampling and the customers
werepicked using simple random sampling. Respondents were met at the ATM as they carry out
their transactions. Data was collected using questionnaire and the reliability of the instrument
was tested using split-half method while validity was tested by use of experts who were the
supervisors of the researcher. Descriptive statistics, simple regression analysis, multiple
regressionand moderated regression analysis were used to analyze data. The findings show that
the independentvariables are significant determinants of customer loyalty among customers who
had not changed their banks, that is, service quality (Fo=16.234>Fc=3.860), after moderation
(Fo=8.355>Fc=3.020), service features (Fo=5.123>Fc=3.860) after moderation (Fo=3.545>Fc
=3.020), complaint handling (Fo=7.579>Fc=3.860) and after moderation (Fo=4.714>Fc=3.020)
and finally when all the determinants of customer loyalty were put together
(Fo=14.218>Fc=2.620) after moderation (FolO.905>Fc=2.390). Among customers who had
changed their banks, only service quality was a significant determinant of customer loyalty
(Fo=5.556>Fc=3.960) after moderation (Fo=5.576>Fc =3.110) with others showing no such effect
on customer loyalty. Service quality had the highest effect on customer loyalty. The study
concluded that customer personality has a moderating effect on determinants of customer
loyalty. The study recommends that bank managers should continuously train their staff on
service quality and customer personality. The study may help the bank policy makers to predict
customer loyalty using the models of customer loyalty.
2013-01-01T00:00:00ZInfluence Of Human Resource Management Practices on The Performance of Small and Medium Enterprises in Kisumu Municipality, KenyaOMOLO, W. Jonathanhttps://repository.maseno.ac.ke/handle/123456789/41982021-07-28T07:35:19Z2013-01-01T00:00:00ZInfluence Of Human Resource Management Practices on The Performance of Small and Medium Enterprises in Kisumu Municipality, Kenya
OMOLO, W. Jonathan
This study investigated the influence HRM practices on the performance of SMEs in Kisumu
Municipality. HRM is the management function that implements strategies and policies
relating to the management of individuals. The importance of SMEs in job creation and
revenue generation is now universally accepted. They have emerged as reliable instruments
for poverty alleviation and employment and income guarantee, with a positive impact far
beyondthe individual client. Their growth and development, and performance in general, are
therefore significant not only to the individual beneficiaries, but to the country as a whole.
But the performance of SMEs in Kisumu Municipality has been poor. They have become
unstable, and their profit margins and sales turnover have decreased. One way to turn this
around is to ensure that SMEs adopt and practice prudent HRM practices, but the actual
influence of HRM practices on the performance of SMEs have not been investigated. Most
studies on SMEs in Kisumu have consistently avoided this subject and failed to address the
issue of HRM vis-avis performance. There was therefore need to determine the influence of
HRMpractices on the performance of SMEs in order to identify suitable HRM practices that
could increase their performance, and those that make negative contributions to the
performanceof SMEs in Kisumu Municipality. The specific objectives were to determine the
influence of recruitment and selection; training and development; performance appraisal;
employeeinvolvement and employee compensation on the performance of SMEs in Kisumu
Municipality. Guided by the ecological theory, the study was conducted through a cross
sectionalsurvey, on a stratified proportionate random sample of 260 SMEs selected from 777
SMEs in Kisumu Municipality. Data was collected using questionnaire and interview
methods,analyzed using percentages and means, and simple and multiple regression analysis
techniques,and presented in tables and figures. The study found 'out that the overall average
performanceofSMEs in Kisumu Municipality is 60.71% (0" = 13.59). The study also found
that recruitment and selection (F, = 143.46 > F(l, 206); to = 11.97 > t (206); Adj. R2 = .408);
trainingand development (F, = 158.656> F (1,206); to = 12.596> t (206); Adj. R2 = .432); and
performanceappraisal (F, = 396.834 > F (1,206); and to = 19.921 > t (206); Adj. R2 = .657) are
significant determinants of the performance of SMEs in Kisumu Municipality. However,
employee involvement (F, = 1.019 < F (1,206); to = 1.010 < t (206); Adj. R2 = .000); and
employeecompensation (F, = 0.282 < F (1,206); to = 0531 < t (206); Adj. R2 = -.003) are not
significant determinants of the performance of SMEs in Kisumu Municipality. The overall
prediction model [pi = 114.2 + S.4SRS + 4.49TD + 10~9PA] explains 72.4% (Adj.R2 =
.724) of the variance in the performance of SMEs. The study concludes that HRM practices
have a significant influence on the performance of SMEs in Kisumu Municipality, and the
better the HRM practice, the higher the performance. But more specifically, the study
concludesthat recruitment and selection; training and development; and performance are the
HRM practices that influence the performance of SMEs. The study recommends the
development of guidelines for recruitment and selection of new staff; development of a
curriculum and training manuals and a work plan to ensure that staff of SMEs attend
trainings; and sensitization on the importance of regular performance appraisals. The study
also recommends empowering trade unions to compel SMEs to allow employee involvement
in decision making. Lastly, the study recommends promotion of reasonable employee
compensation structures in all SMEs. Finally, the researcher recommends that a study be
conductedon a wider scope in Kisumu County, and in all municipalities in major towns in
Kenyato increase its generalizability.
2013-01-01T00:00:00Z