13 Records out of 22207 Records

The relationship between director remuneration and performance of firms listed in the Nairobi Securities Exchange

Author: Awuor, Mercy Mildred

Awarding University: University of Nairobi, Kenya

Level : MBA

Year: 2012

Holding Libraries: University of Nairobi Jomo Kenyatta Memorial Library ;

Subject Terms: Nairobi Securities Exchange ; Corporate governance ; Salaries USE Wages and salaries ; Wages and salaries ; Securities markets ;

Abstract:

The agency problem has been a source of great interest in corporate governance to both industry and academic researchers. Various proposals have been advanced to resolve the agency problem, with most of the suggestions having been incorporated into corporate governance principles and best practices that companies are encouraged to apply. However, despite advances in development of corporate governance best practices, the agency problem still persists. In Kenya, companies that are listed on the Nairobi Securities Exchange are required to comply with the corporate governance principles that are issued by the capital markets authority, which require management remuneration to be based on performance. The purpose of the study is to establish the relationship between management remuneration and firm performance for companies that are listed on the Nairobi Securities Exchange. The study adopted a descriptive research design. The jOPulation of the study was the companies listed at the Nairobi Securities Exchange. Data was obtained from published audited financial statements covering the period between 2006 and 2010. Regression analysis demonstrated a positive link between management remuneration, ROE, EAT and Tobin's Q as measures of firm performance. The study concludes that among Kenyan companies, management remuneration has a weak relationship with ROE and Tobin's Q, but a moderately stron~ positive relationship with EAT. The implication of this finding is that, among Kenyan listed companies, directors remuneration is strongly linked to raw performance indicators as opposed to measures of efficiency of utilization of shareholder funds and market performance. These findings therefore point towards high possibility of agency problem since directors can benefit themselves by maximizing raw earnings without due regard to long term performance and market performance.

Factors influencing turnover among teachers employed by the Teachers Service Commission in Changamwe district, Mombasa county, Kenya

Author: Orek, Ruth Pamela Adungosi

Awarding University: University of Nairobi, Kenya

Level : MA

Year: 2012

Holding Libraries: University of Nairobi Jomo Kenyatta Memorial Library ;

Subject Terms: Changamwe District ; Schools ; Educators ; Motivation ; Teachers Service Commission (Kenya) ; Wages and salaries ; Employee turnover ;

Abstract:

Despite the efforts made by the government, Non Governmental Organizations and the local communities to provide resources and support quality child education through the Free Primary Education in Kenyan schools, an exodus of teachers from the classroom is still experienced in many schools in Changamwe District. The government of Kenya has made drastic efforts to hire teachers on contract and also employ them on permanent and pensionable terms. However, there is still an evidence of teacher turnover from the public schools. Changamwe District has total of 510 teachers of whom 118 are male and 392 are female. There are 20 public primary schools, 4 registered secondary schools and 2 unregistered secondary schools. This research basically looked at the TSC teachers in Changamwe District, Mombasa County. Between 2008 and 2011 records at the human resource department in the MEOs office reveal that at least 15 qualified teachers left the classroom for greener pastures. This research study sought to determine the extent to which motivation in schools, wage levels among TSC teachers, working conditions in the school, morale and levels within the work place and job opportunities in the labour market influence teacher turnover in Changamwe District. The research was conducted through the collection of primary data from the field. It sought to establish factors influencing teacher turnover among the teachers employed by the Teachers Service Commission in Changamwe District, Mombasa County Kenya. A sample survey was employed to random samples after identification of the target population. The target population in this research was 540 teachers including 30 education officers in Changamwe District. The research was carried out in 7 public schools selected randomly from the two Divisions namely Chaani and Jomvu. Data analysis and interpretations was done both descriptively and numerically. The period taken in this research was eight months from preparation of proposal, defense of the proposal, data collection, analysis and presentation, collections and submission. Data was presented in tables in frequency and percentage from. The results revealed that in only 7 out of the 26 public schools 35% of the total number of 153 teachers had left teaching within three years. The research hypothesis analysis was done manually following the objectives of the research study. The findings of the hypothesis revealed that motivations in schools has a very weak positive influence on teacher turnover; wage levels, working conditions and levels within the work place have a negative influence on teacher turnover and job opportunities in the labour market have no influence on teacher turnover. The most common cause of turnover among the teachers employed by the TSC in Changamwe District, Mombasa County, Kenya is low salaries and allowances. From the research findings the TSC is advised to motivate teachers with good salary and allowances in order to retain them in the classroom. They should also promote teachers and upgrade those who deserve automatically without delay. They are also advised to sponsor teachers' professional training to improve their skills. The Government and NGOs are also advised to come down and get the issues directly from the ground in order to address the issue of teacher turnover.

The effect of occupation on wage discrimination in Kenya

Author: Akuma, Joash Ogonyo

Awarding University: University of Nairobi, Kenya

Level : MA

Year: 2010

Holding Libraries: University of Nairobi Jomo Kenyatta Memorial Library ;

Subject Terms: Wages and salaries ; Occupations ; Sex discrimination ;

Abstract:

This research paper examines the effect of occupation on wage discrimination in the Kenyan labour market using cross-sectional data from 1998/1999 labour force survey. The study examined whether occupational segregation exists in the labour market and assessed the effect of occupation variable on wage discrimination in the labour market in Kenya. Occupations have been classified into eight categories based on International Labour Organization's International Classification of Occupations (ISCO-88) framework. The Duncan and Duncan Index of dissimilarity was used to measure the existence of occupational segregation. The computed value of 25.7% reveals that occupational segregation exists in the Kenyan labour market. This index is however, less than that observed in industrial countries such as Germany and United Kingdom with 40% and 33% respectively. Two separate equations were regressed for both the male and female wage equations using Ordinary Least Square (OLS). The regression was first run with occupation included in the model and with occupation excluded from the model. The results indicate that the value of R-squared was 46% and 55% for male and female respectively when occupation was included in the model while when the occupation variable was excluded; the Resquared value was 39% and 49% for male and female respectively. Based on the findings, we can be conclude that occupation has an effect on wage discrimination since its inclusion in the regression gives a higher value of R - squared which decreases when he variable is excluded from the model. The results of the wage decomposition show that there is a wage gap between male and female. This is attributed to the human capital characteristics and the contribution of returns. The study recommends investment in instruments that reduce gender inequalities in access to education, choice of occupation and also policies aimed at promoting training programmes for both men and women.

An analysis of the terms and conditions of casual employees : a case study of the University of Nairobi's College of Humanities and Social Sciences

Author: Obam, Judith Elizabeth Oloo

Awarding University: University of Nairobi, Kenya

Level : MA

Year: 2010

Holding Libraries: University of Nairobi Jomo Kenyatta Memorial Library ;

Subject Terms: University of Nairobi College of Humanities and Social Sciences ; Employees ; Temporary employment ; Wages and salaries ;

Abstract:

ABSTRACT NOT AVAILABLE

A study of the effects of remuneration factors on performance of employees in tertiary training institutions in Nyeri Districts

Author: Maina, Shem Kihara

Awarding University: Kenyatta University, Kenya

Level : MBA

Year: 2009

Holding Libraries: Kenyatta University Moi Library ;

Subject Terms: Colleges and universities ; Educators ; Wages and salaries ; Employees ; Nyeri North District ; Nyeri South District ;

Abstract:

The study seeks to investigate the effects of remuneration factors on performance of employees in tertiary training institutions in Nyeri North and South districts. Among the twenty tertiary training institutions in the districts, employees have filed various cases concerning issues on remuneration and the industrial court has ruled in their favour. This shows the problem of inadequate remuneration, making employees dissatisfied, thus leaving the training sector to other well or better paying opportunities. The factors under investigation include the salary scales, salary reviews, pay secrecy, labour union involvement and employee involvement in the remuneration policy formulation. The study will investigate how these factors affect performance of employees because they may influence quality teaching /facilitation, research and development, resource mobilization, guidance and counseling and innovation and improvisation in the training sector. The study aims to address bottlenecks in the above stated factors by collecting relevant information that can be used by stakeholders in addressing unsatisfactory remuneration policy. The literature review includes books in education and training sector, magazines on education and training, skill development journals, internet sourcing, financing education and training, research books, among other literature. The literature review will extensively seek information on all the factors affecting performance of individual or group employees. The research design will be descriptive, because it helps to explain and present all the relevant information on the study. The descriptive research design will require use of graphs, tables and charts. Both the private and public institutions will be sought. The employees in the study will be teaching and non-teaching staff. The sampling frame will be 1130 employees of all the 20 tertiary training institutions within the Nyeri districts. A sample of 11 institutions comprising over 50% of the institutions, randomly selected, will be used for study. The sample size of the individuals to be selected will be about 250 respondents. Tools for data collection which will include questionnaires, observation and interview will be applied. The questionnaires will be self administered. However, face to face interviews will be used among the respondents in specific circumstances. Observation will require recording activities, drawings and notes taking on the visits.

Analysis of factors affecting motivation of employees at Kenya Bureau of Standards

Author: Onyango, Carolyn

Awarding University: Moi University, Kenya

Level : MBA

Year: 2005

Holding Libraries: Moi University Margaret Thatcher Library ; Moi University Hospice Campus Library ;

Subject Terms: Kenya Bureau of Standards ; Employee morale ; Parastatals ; Wages and salaries ; Employee promotions ;

Abstract:

The study investigated the factors that affect the motivation of employees in state parastatals in Kenya with emphasis on Kenya Bureau of Standards (KEBS). The study highlighted various factors that affect staff morale such as promotions, organizational structureand existing organizational culture. The research methodology was descriptive. This eased comparative analysis of responsesacross different cadres of KEBS' employees and gave each employee an equalchance of being chosen. The target population of the study was 754 employees of KEBS from which a sample of 174 was drawn. Questionnaires were used to collectdata from a sample that was drawn from the staff of the organization based at thevarious offices. The data collected was then analyzed using both qualitative and quantitative methods using SPSS (Statistical Software for Social Sciences). Descriptive statistics such as the frequencies, percentages and mean statistics were used.The findings were presented using pie charts, bar charts and tables. The findings of the study established that almost all the employees receive benefits from KEB, only that most of the staff felt the benefits were inadequate. The staff also felt the remuneration was below market rate. The study also established that the organization is committed to staff training as a tool of staff morale improvement. Regarding training of employees, the study established that the training of employees is performed on regular basis, and the employees feel that the training is relevant to their work. Training of employees was found to be beneficial for improving their motivational levels. Training of employees leads to improved performance and provision of better services to clients. Staff training also increases staff efficiency and accuracy at the workplace. Training of employees was found to be beneficial for improving their motivational levels. Training of employees leads to improved performance and provision of better services to clients. Staff training also increases staff efficiency and accuracy at the workplace. The study also established that the promotion system in the organization was wanting and could be improved. Various ways were suggested by the respondents as ways in which the organization can improve employees' motivation. These were identified as staff training, better pay, staff promotion, and staff rewarding and better terms of service. Others such as good communication channels and employees' involvement in decision-making were identified by minority respondents as vital for staff morale improvement. The study was quite significant as it brought out the most important factors that affect motivation of staffing an organization. The remedies suggested by staff as a way of improving motivation are issues that any organization can follow up on to improve the motivation levels of staff and ultimately improve the production of the organization.

The nature and determinants of the weaalth portfolios of salaried middle and upper income employees in Kenya

Author: Muia, Julius Monzi

Awarding University: University of Nairobi, Kenya

Level : PhD

Year: 2005

Holding Libraries: University of Nairobi Jomo Kenyatta Memorial Library ;

Subject Terms: Personal income ; Wealth management ; Wages and salaries ; Social classes ; Employees ;

Abstract:

Personal wealth as denoted by accumulated net assets is a key ingredient of a people's standards of living. This is because wealth facilitates consumption, especiaJly in old age, cushions people against adversities such as illness and unemployment as well as, enables further wealth creation through access to bank credit. The assets that comprise wealth include cash and bank balances, properties, shares in cooperatives and listed companies, life assurance policies, accrued pension benefits, corporate bonds, and treasury bi11s and bonds. Whereas modern portfolio theory (MPT) suggests that investors should aim to maximize their wealth and hold diversified portfolios, life-cycle hypothesis (LCH) maintains that people should target a smooth consumption path in their lifespan, respectively. Yet, empirical evidence from developed countries shows that personal wealth portfolios consist of few assets, are inadequate to support retirement consumption and are very dissimilar with respect to holders' personal attributes. The lack of knowledge on the diversification, adequacy and determinants of personal wealth portfolios in developing countries makes it difficult to appreciate, and formulate appropriate policies for enhancing the wealth holdings of the citizens for improved standards of living. This study is designed to address this research gap. The study examines the sizes and composition of the wealth portfolios of employees in order to: a) establish whether they are diversified; b) ascertain the wealth adequacy; c) find out which personal attributes are key determinants of the portfolios; and d) develop descriptive wealth holding models. A composite conceptual framework integrating the theoretical models of LCH, MPT and Sociological Approach was developed and used in this study. The above informed the use of a deductive research design that guided the development of suitable research hypotheses which were tested using empirical data to realize the study objectives. The target population for the study comprised aJl the salaried middle and upper income employees in Kenya. In this survey, questionnaires were administered on a random sample of 1,067 salaried middle and upper income employees drawn from a stratified random sample of large institutions. A response rate of 75 % was achieved. Data coJlected on personal wealth levels and personal attributes was analysed and tested for independence and correlation using statistical tests such as Analysis of Variance, Pearson product-moment coefficient, and Multiple regression analysis, among others. The study establishes that the sampled employees hold under-diversified wealth portfolios. Firstly, they do not hold equal proportions of all the asset types in the market as stipulated under narve diversification (Camner, Mankiw & Weil, 1997; DeMiguel, Garlappi & Uppa, 2009). The wealth portfolios are dominated by cash and property with mean proportions of 57% and 36%, respectively. They are also simple; the mean number of assets held is three with the top three assets accounting for 87% of the wealth values. Secondly, the mean shareholding of equity investors is three listed companies against a recommended minimum of 11 listed firms. These findings contradict theory but are in line with empirical evidence from documented personal wealth studies in developed countries. In common with other studies, this research finds that the sampled employees may not have adequate wealth to meet their consumption needs while in retirement. This is based on the findings that the mean proportion of the employees' estimated retirement income to current employment income, also referred to as the replacement rate, is 43 %. This rate is significantly lower than the recommended minimum of 70 %. The study establishes that the quantitative personal attributes that are the main determinants of wealth size are employees' income, age, proportion of risky assets held, inherited wealth and savings rate. Also, the ma

Wage determination in the unionized private sector in Kenya, 1980-1997.

Author: Omolo, Odhong' Jacob

Awarding University: Kenyatta University, Kenya

Level : MA

Year: 1999

Holding Libraries: Kenyatta University Moi Library ;

Subject Terms: Wages and salaries ; Labour unions ;

Abstract:

This paper analyses the determinants of real wages in the unionized private sector in Kenya from 1980 to 1997. Despite the existing wage policies being enforced by the Kenya government through its various machineries such as the Industrial Court and continued union representation of workers in collective bargaining, real wages of unionized private sector workers have continued to fall overtime. In the period 1980-97, real wages of unionized private sector workers of 11.84 percent despite an overall improvement in the private sector real wages of 11.34 percent during the same period. Unionized workers were therefore 48.18 percent worse off than their non-unionized counter-parts in the same sector. The main objective of this study was to find out factors that determine unionized private sector real wages in Kenya. Empirical analysis was carried out using time series secondary data to determine how various factors affect negotiated real wages. These factors included one year lagged negotiated real wage, statutory minimum real wage, union strength, real GDP growth, labour productivity, tax rate, rate of interest on capital and its one year lagged effect, and a dummy variable to capture the effect of wage guidelines. Using Two Stage Least Squares (2SLS) regression technique, the parameter estimates of one year lagged negotiated real wage, statutory minimum real wage, rate of interest and its one year lagged effect were found to be statistically different from zero at the 10 percent significance level. However, when the results were analysed at 95 percent confidence level, coefficients of all the variables above remained to be statistically significant except that of current rate of interest. The rest of coefficients of the variables in the model namely, union strength, real GDP growth, labour productivity, tax rate and the dummy for wage guidelines were found to be insignificant both at 90 and 95 percent levels of confidence. The regression results further showed that lagged real wage, statutory minimum real wage, union strength, tax rate and the dummy for wage guidelines were positively related to the negotiated real wage. However, real GDP growth, labour productivity growth, rate of interest and its one-year lagged effect had a negative relationship with negotiated real wages. The major policy implication of the study results is that statutory minimum wage regulation is one of the effective ways of improving negotiated real wages in Kenya. The study recommends therefore that this practice should continue and be effectively implemented. Furthermore, since labour and capital have been found to be coprant factors, efforts should be made to reduce interest rates in order to attract more investments. This will lead to high demand for labour, which in turn bids up wages. Also, the existing wage policies should be reviewed to incorporate interest rate movements as an additional factor for wage compensation.

Essays on labor markets in two African economies.

Author: Dabalen, Andrew Lebugoi

Awarding University: University of California, Berkeley, USA

Level : PhD

Year: 1998

Holding Libraries: University Microfilms International ;

Subject Terms: Agricultural economics ; Labour economics ; Wages and salaries ;

Abstract:

Empirical studies of labor markets of developing countries, particularly those in Africa, to date have been few and unreliable. They are unreliable because they fail to control for self-selection biases that are common to most labor market participation data. My dissertation, essays on labor markets in two African economies, uses econometric methods that utilize sources of exogenous variation in the data to credibly identify the true causal effect of individual choices on wage inequality in South Africa and Kenya. In the first paper, returns to education in Kenya and South Africa: new estimates, I resolve the problem of sample selection due to endogeneous choice of education by using sources of exogenous variation in schooling levels to identify the true causal effect of education on wages. The main finding of this study is that rates of return to an extra year of education are in the order of 15 percent for Kenya and 19 percent for South Africa. These rates are higher than the Ordinary Least Squares (OLS) estimates found for these markets. They are also higher than iv estimates found for us. The second paper, the effect of unions on wages in South Africa: repeated cross-section estimates, explores the controversial hypothesis that wage inequality in South Africa is partly due to wage setting practices of unions by measuring the true wage gap due to trade unions. The study measures this gap within population groups and for workers with different observed skills. The results show that the average change in union and nonunion wage gap in South Africa is about 10 percent per annum. Starting from a consistent estimate of the gap for a given base year the gap widens by 10 percent annually. In our case, a union and nonunion wage gap of 4.20 percent in 1993 increases to 5.04 percent in 1995. The estimates implied by these changes are closer to european rather than us union wage effects, and are lower than the estimates found by moll (1993) for South Africa. I also find that workers at the low end of observed skill distribution benefit the most from belonging to unions, although the sizes of within-skill wage differentials differ significantly across races. The third paper, employment patterns of female workers in South Africa, examines factors that continue to hamper full participation of married Black South African women in the labor market whether as self-employed or formal wage sector workers. Identification of the parameters of the wage equation are obtained through the parametric 'single index' method with exclusion restrictions. Simulations of the effects of these variables on the probabilities of employment choices show that although fertility and age of motherhood are influential, they are not as strong as expected market wages and education levels of women workers. Furthermore, there is no clear evidence of significant labor supply response from coresident family arrangements. (Abstract shortened by UMI.)

The productivity trap in Kenya's highland agriculture : a bilevel programming analysis of credit and wage constraints.

Author: Yabann, Wilson Kimutai

Awarding University: University of Illinois, Urbana-Champaign, USA

Level : PhD

Year: 1992

Holding Libraries: Dissertation Abstracts International ;

Subject Terms: Economics/Productivity/Credit/Wages and salaries/Agriculture/ ;

Abstract:

Much of the less developed world faces the problems of feeding an ever increasing population. Improved agricultural productivity is the key to improved food security and economic returns in these regions. Much of the necessary improvement in productivity is a function of improved factors of production, such as operating capital (credit) and labor allocation. It has been observed that access to credit by the small farms is limited by their ability to offer collateral. Generally, large farms are thought to make more profitable use of productive assets than small farms and hence the inclination for commercial banks and other financial institutions to restrict access to large farms only. This phenomenon can be seen as a major weakness in attempts to improve agricultural production in less developed world. Another weak point in this direction is that of government setting of farm minimum wages which tends to cause labor to be unproductively allocated. This study attempts to look at how credit and farm minimum wage rate affect farm resources flow, which have been viewed as the main obstacle to improved productivity in Kenya's highland agriculture. Specifically, the study looks at the effects on overall production of legally-set minimum farm wages and restricted access to credit by small farmholders. It investigates the impacts of these constraints on land and labor resources flow between the smaller farming groups and the large farms in Njoro region. These farming groups make their farm operations decisions independently from each other and yet, there exists an interrelation between their decision making processes since the decisions of one category affect the decisions of the other, and vice versa. An appropriate methodology was used to handle the multilevel decision making process that exists in the region. A bilevel mathematical programming model was developed and used as the tool for economic policy analysis. The results of this study show that more access to capital by smallholders should increase overall production and increase the intensity of land use. A reduction of the minimum farm wage improved labor resource flows, increased production, and increased land transfers in the area. Both the wage and credit reforms alter employment and production potential among the different farm production activities