Search results

1 – 3 of 3
Per page
102050
Citations:
Loading...
Article
Publication date: 2 July 2018

Erick Rading Outa, Nelson Maina Waweru and Peterson Kitakogelu Ozili

The purpose of this study is to examine the capital market effects of corporate governance (CG) practices of a “comply or explain” environment on stock market liquidity in a…

516

Abstract

Purpose

The purpose of this study is to examine the capital market effects of corporate governance (CG) practices of a “comply or explain” environment on stock market liquidity in a frontier market.

Design/methodology/approach

Using secondary data from Nairobi Securities Exchange, the liquidity position is analyzed using panel data random effects regression against CG guidelines.

Findings

The results show a negative and significant relationship between CG compliance and stock market liquidity, suggesting that regulated CG practices improve market liquidity in Kenya. The results are remarkably robust to different measures of liquidity and supports agency and signaling theory.

Practical implications

The authors provide evidence to show that security regulation improves stock market liquidity in a frontier market whose characteristics are thought not to favor regulation. Therefore, regulators and stakeholders could be motivated by the benefits of regulation, and this could lead to renewed effort to improve CG compliance.

Originality value

The findings show that security market regulation through CG guidelines can improve stock market liquidity in frontier markets. This offers regulators and policymakers a strong motivation to enhance security regulation to improve capital market confidence.

Details

Accounting Research Journal, vol. 31 no. 2
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 1 December 2004

Nelson Maina Waweru, Zahirul Hoque and Enrico Uliana

Most research on management accounting change relates to practices in developed countries. This paper reports on a field study of management accounting change in the South African…

10300

Abstract

Most research on management accounting change relates to practices in developed countries. This paper reports on a field study of management accounting change in the South African context. It uses a contingency theory framework within four retail companies to understand the processes of their management accounting systems change and to explore the rationales for such change processes. The findings indicate considerable changes in management accounting systems within the four cases. Such changes include increased use of contemporary management accounting practices notably activity‐based cost allocation systems and the balanced scorecard approach to performance measures. The paper suggests that recent environmental changes in the South African economy arising from government reform/deregulation policy and global competition largely facilitated the management accounting change processes within the participating organisations.

Details

Accounting, Auditing & Accountability Journal, vol. 17 no. 5
Type: Research Article
ISSN: 0951-3574

Keywords

Book part
Publication date: 16 August 2023

Lillian Zippora Omosa

Chama microfinance models continue to be a safety net for many rural women in Kenya; however, their financial literacy remains largely unexplored. This study sought to explore the…

Abstract

Chama microfinance models continue to be a safety net for many rural women in Kenya; however, their financial literacy remains largely unexplored. This study sought to explore the financial literacy of women entrepreneurs who are also members of Chama groups in rural Western Kenya, examine the specific indigenous practices and values that educators could draw upon to support and enhance the teaching of financial literacy to women, and also highlight the potential outcome of integrating indigenous knowledge and pedagogies to financial literacy. The study adopted critical participatory action research and African womanism methodology to centre learning on the experiences of rural Chama women. Based on in-depth interviews of six women in Western Kenya, the study found that the women's financial literacy can be explained and demonstrated through their relationships, connections and identity. On specific indigenous practices and methods the study found community engagement, centred learning and discovery learning, as relevant ways of engaging with the women. Integrating values, practices, and methods to inquire about the financial literacy from the Chama women's perspective cultivated an environment that encouraged mutual respect, sharing, participation and learning. Within the context of the findings, the study suggests that it is best to understand the women's financial literacy from their perspective. This study also contributes to knowledge on critical participatory action research and financial literacy from an Africana womanist perspective.

Details

Casebook of Indigenous Business Practices in Africa
Type: Book
ISBN: 978-1-80455-763-1

Keywords

1 – 3 of 3
Per page
102050