This research was geared towards the investigation of management strategies (factors) that affect the performance ofMSMEs in Kenya. Many developed countries record a time in history when entrepreneurial activities led to revival of economical growth after decline. This implies MSMEs is a very vital sector especially for a developing country like Kenya. MSMEs stagnate and their performance is uncertain according to writers such as Namusonge, Management inadequacies have been suggested in several studies. The objectives of this research was to, 1. To identifY the critical management factors affecting the performance of MSMEs in Kenya; ii. To establish the process through which managerial factors affect the performance of a MSMEs in Kenya ; m. To determine the integrative effect of various management factors in the MSMES in Kenya; IV. To establish the effect of demographics and management factors on performance, v. To establish effects of external environment on internal management factors A conceptual model was formulated from the literature review showing relationships of the management strategies and the environment they operate in. These relationships became the basis for the hypotheses which were later tested. In chapter 4, a mini research (pilot study) was conducted in May 2007,whose main aim was to test the reliability and validity of the research instruments. The 36 questionnaires returned were analysed through descriptive method. Results obtained indicated the instruments were reliable and the results valid. A few corrections suggested were made. The major correction was addition of question 35 to collect financial information. The data collection was done between mid August and mid October 2007.In chapter 5, the researcher analysesd the results of the survey after receiving 180 questionnaires. Time was a constraint. In chapter 6, the hypotheses and conceptual model were analysed and the results obtained suggested that, most strategies did not affect the profitability separately but severally. The integrated effect of the management strategies and the associated factors had a higher impact on performance of the MSMES than any individual strategies. In chapter 7, the conclusions, summaries and Recommendations are given. / Business Management / D. Com. (Business Management and Policy)

This research was geared towards the investigation of management strategies (factors) that affect the performance ofMSMEs in Kenya. Many developed countries record a time in history when entrepreneurial activities led to revival of economical growth after decline. This implies MSMEs is a very vital sector especially for a developing country like Kenya. MSMEs stagnate and their performance is uncertain according to writers such as Namusonge, Management inadequacies have been suggested in several studies. The objectives of this research was to, 1. To identifY the critical management factors affecting the performance of MSMEs in Kenya; ii. To establish the process through which managerial factors affect the performance of a MSMEs in Kenya ; m. To determine the integrative effect of various management factors in the MSMES in Kenya; IV. To establish the effect of demographics and management factors on performance, v. To establish effects of external environment on internal management factors A conceptual model was formulated from the literature review showing relationships of the management strategies and the environment they operate in. These relationships became the basis for the hypotheses which were later tested. In chapter 4, a mini research (pilot study) was conducted in May 2007,whose main aim was to test the reliability and validity of the research instruments. The 36 questionnaires returned were analysed through descriptive method. Results obtained indicated the instruments were reliable and the results valid. A few corrections suggested were made. The major correction was addition of question 35 to collect financial information. The data collection was done between mid August and mid October 2007.In chapter 5, the researcher analysesd the results of the survey after receiving 180 questionnaires. Time was a constraint. In chapter 6, the hypotheses and conceptual model were analysed and the results obtained suggested that, most strategies did not affect the profitability separately but severally. The integrated effect of the management strategies and the associated factors had a higher impact on performance of the MSMES than any individual strategies. In chapter 7, the conclusions, summaries and Recommendations are given. / Business Management / D. Com. (Business Management and Policy)

This study investigated the relationship between capital structure, performance and replacement of chief executive officer in firms listed on the Nairobi Securities Exchange (NSE). Data was collected from a sample of 37 firms listed on the NSE over a period of 23 years, from 1990 to 2012. The analysis was conducted at three stages. The canonical correlation technique was employed to investigate the bi-directional relationship between capital structure and performance and to select competing indicators of performance and capital structure. Second, the general linear model (GLM) procedure was used to test the effect of performance and ownership structure and to test the effect of capital structure and ownership structure. Lastly, the generalised estimating equation (GEE) was used to assess effects of performance, capital structure and ownership structure on change in CEO. The results revealed that a bidirectional relationship exists between capital structure and debt capital. The indicators found to be useful in examining the relationship between performance and capital structure are asset turnover ratio and total debt to the total asset ratio. The findings support the efficiency hypothesis but not the franchise hypothesis. The results also indicated that firms with a low asset turnover are with a low asset turnover are 3.045 times likely to change CEO compared to firms with a high asset turnover. The results also indicated that firms with high leverage (debt) are he results also indicated that firms with high leverage (debt) are 3.430 times likely to change CEO compared to firms in low leverage, while the firms with medium leverage are are are are 6.491 times likely to change CEO. Therefore managers should not be passive when it comes to choosing between equity and debt capital played a disciplinary role on firms listed on the NSE. / Business Management / DCom (Business Management)

This study investigated the relationship between capital structure, performance and replacement of chief executive officer in firms listed on the Nairobi Securities Exchange (NSE). Data was collected from a sample of 37 firms listed on the NSE over a period of 23 years, from 1990 to 2012. The analysis was conducted at three stages. The canonical correlation technique was employed to investigate the bi-directional relationship between capital structure and performance and to select competing indicators of performance and capital structure. Second, the general linear model (GLM) procedure was used to test the effect of performance and ownership structure and to test the effect of capital structure and ownership structure. Lastly, the generalised estimating equation (GEE) was used to assess effects of performance, capital structure and ownership structure on change in CEO. The results revealed that a bidirectional relationship exists between capital structure and debt capital. The indicators found to be useful in examining the relationship between performance and capital structure are asset turnover ratio and total debt to the total asset ratio. The findings support the efficiency hypothesis but not the franchise hypothesis. The results also indicated that firms with a low asset turnover are with a low asset turnover are 3.045 times likely to change CEO compared to firms with a high asset turnover. The results also indicated that firms with high leverage (debt) are he results also indicated that firms with high leverage (debt) are 3.430 times likely to change CEO compared to firms in low leverage, while the firms with medium leverage are are are are 6.491 times likely to change CEO. Therefore managers should not be passive when it comes to choosing between equity and debt capital played a disciplinary role on firms listed on the NSE. / Business Management / DCom (Business Management)

This study tests for the market efficiency of the Nairobi Securities Exchange (NSE) after the year 2000 to determine the effect of technological advancements on market efficiency. Data that is used is the NSE 20 share index over the period 2001 to 2015; and the NSE All Share Index (NSE ASI) from its initiation during 2008 to 2015. We cannot accept the Efficient Market Hypothesis (EMH) for the NSE using the serial correlation test, the unit root tests and the runs test. However, we can accept the EMH for the more robust variance ratio test. Overall, the results of the market efficiency are mixed. The most significant finding is that the efficiency of the NSE has increased since the year 2000 which suggests that advancements in technology have contributed to the increase in the market efficiency of the NSE. / Business Management / M. Com. (Business Management)