Organizations in the modern society are faced with numerous challenges that require those in charge with governance to make effective decisions that enhance organizations’ overall performance and sustainability. One of the key decisions an organization’s board ought to make involve capital structure. Despite various research that have been conducted relating to board characteristics and capital structure, several authors concurs that the manner in which banks select the best capital structure, and the factors that influence their corporate financing behavior are not well understood. The main aim of this study therefore was to investigate board characteristics and capital structure decisions of commercial banks in Kenya. The study measured board characteristics with respect to board size, board diversity, board independence and board expertise while the capital structure decisions was gauged with capital structure ratio, that is, total debt ratio. These dimensions also formed the specific objectives of the study. The study assessed various literatures covering both theoretical and empirical that elaborates on the study variables providing more insight as well as identified gaps that needed to be filled. The study employed correlation design as it strived to demonstrate the causative connection between study variables. All selected commercial banks formed the target population with chief finance officers and internal auditors being the target respondents in these banks. The primary source of information was both primary and secondary data of this study whereby primary data collection instrument was the questionnaire whose reliability and validity was ensured before collecting data. Collected data was properly assessed and checked before conducting final analysis. Data was analyzed using descriptive and inferential analysis, which was aided by statistical package for social science and the outputs were presented in form of graphs, pie charts, frequency tables and narrations. The findings of the study showed a strong positive correlation between all the study measures as shown by R value of 0.824. From inferential analysis findings, the study concludes that on the overall all the board of directors’ characteristics studied had a significant influence on capital structure decisions of commercial banks in Kenya. The regression coefficients p-values were 0.000, 0.000, 0.002 and 0.001 consecutively which were all less than 0.05 indicating a significant relationship between board characteristics dimensions studied and capital structure decisions; therefore, all the null hypotheses were rejected. The study also established that capital structure of commercial banks in Kenya over a period of 5 years between 2013 and 2017 averaged at 0.841 which was less than 1.00, indicating that these banks finance their assets using equity as opposed to debts. As a result, the study concluded that board characteristics have a significant impact on capital structure decisi
{"title":"Board Characteristics and Capital Structure Decisions of Commercial Banks in Kenya","authors":"Hiltommy Muthiani Mulwa, Fredrick W. S. Ndede","doi":"10.35942/ijcfa.v3i2.222","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.222","url":null,"abstract":"Organizations in the modern society are faced with numerous challenges that require those in charge with governance to make effective decisions that enhance organizations’ overall performance and sustainability. One of the key decisions an organization’s board ought to make involve capital structure. Despite various research that have been conducted relating to board characteristics and capital structure, several authors concurs that the manner in which banks select the best capital structure, and the factors that influence their corporate financing behavior are not well understood. The main aim of this study therefore was to investigate board characteristics and capital structure decisions of commercial banks in Kenya. The study measured board characteristics with respect to board size, board diversity, board independence and board expertise while the capital structure decisions was gauged with capital structure ratio, that is, total debt ratio. These dimensions also formed the specific objectives of the study. The study assessed various literatures covering both theoretical and empirical that elaborates on the study variables providing more insight as well as identified gaps that needed to be filled. The study employed correlation design as it strived to demonstrate the causative connection between study variables. All selected commercial banks formed the target population with chief finance officers and internal auditors being the target respondents in these banks. The primary source of information was both primary and secondary data of this study whereby primary data collection instrument was the questionnaire whose reliability and validity was ensured before collecting data. Collected data was properly assessed and checked before conducting final analysis. Data was analyzed using descriptive and inferential analysis, which was aided by statistical package for social science and the outputs were presented in form of graphs, pie charts, frequency tables and narrations. The findings of the study showed a strong positive correlation between all the study measures as shown by R value of 0.824. From inferential analysis findings, the study concludes that on the overall all the board of directors’ characteristics studied had a significant influence on capital structure decisions of commercial banks in Kenya. The regression coefficients p-values were 0.000, 0.000, 0.002 and 0.001 consecutively which were all less than 0.05 indicating a significant relationship between board characteristics dimensions studied and capital structure decisions; therefore, all the null hypotheses were rejected. The study also established that capital structure of commercial banks in Kenya over a period of 5 years between 2013 and 2017 averaged at 0.841 which was less than 1.00, indicating that these banks finance their assets using equity as opposed to debts. As a result, the study concluded that board characteristics have a significant impact on capital structure decisi","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129541097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Financial leverage and financial performance are fundamental issues in corporate finance. In Kenya, some companies listed at the Nairobi Securities Exchange have had performance improvement. However, most of them have experienced declining fortunes which has been attributed to the fact that corporate managers another practitioner lack adequate guidance required to attain optimal financing decisions. Financial leverage comprises of loans and other forms of debts where the proceeds from these loans are reinvested to earn higher return than the cost of loans. Financial use is the company's capacity to utilization of settled money related charges to amplify the impacts of changes in the profit before premium and duty on the company's income per share. The extent of obligation to value is a vital decision for corporate supervisors. The poor performance of Energy and Petroleum sector companies is of great concern. Financial leverage ranges from debt ratio, debt/equity ratio and interest coverage ratio which are vital since they directly affect the financial performance of firms. The general objective as to determine the effect of financial leverage on the financial performance of energy and petroleum sector companies listed in the NSE. While the specific objectives were; to establish the effect of debt ratio, debt -equity ratio and interest coverage ratio on financial performance of energy and petroleum sector companies recorded in the NSE. The research was anchored on the following theories: Modigliani-Miller theorem, Pecking Order Theory and Trade-off Theory. The empirical literature review was based on the three objectives of the study and gaps established. The study adopted a descriptive research design. Management of all the 5 energy and petroleum companies listed with the NSE was involved in the study which mainly used secondary data to conclude. Data was analyzed using regression analysis. Analyzed data was presented using tables. Confidence interval of 95% was used by the researcher. The study adopted a multiple regression model (Y = β0 + β1X1 + β2X2 + β3X3 +ε). The findings indicate that the independent variables Debt ratio, Debt to Equity ratio and interest cover ratio affected the financial performance of the firms in the Energy and petroleum sector. Their effect was up to 75.4%. Debt ratio and Debt to Equity ratio had a positive relationship whereas Interest cover ratio had a negative relationship to the firms in the Energy and petroleum sector listed in the NSE. This study recommends that the firms handle their capital structure decisions prudently as the changes in the factors like Debt ratio, Debt to Equity ratio and Interest cover ratio enhance profitability of firms when prudently employed and hence affect the performance of Energy and petroleum firms listed at the Nairobi Securities Exchange. This study also recommends that firms control the amount of interest expense since an increase in interest expense has an effect in that it redu
{"title":"Financial Leverage and Performance of the Energy and Petroleum Sector Companies Listed in the Nairobi Securities Exchange","authors":"Jephania Chemosit, G. Atheru","doi":"10.35942/ijcfa.v3i2.208","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.208","url":null,"abstract":"Financial leverage and financial performance are fundamental issues in corporate finance. In Kenya, some companies listed at the Nairobi Securities Exchange have had performance improvement. However, most of them have experienced declining fortunes which has been attributed to the fact that corporate managers another practitioner lack adequate guidance required to attain optimal financing decisions. Financial leverage comprises of loans and other forms of debts where the proceeds from these loans are reinvested to earn higher return than the cost of loans. Financial use is the company's capacity to utilization of settled money related charges to amplify the impacts of changes in the profit before premium and duty on the company's income per share. The extent of obligation to value is a vital decision for corporate supervisors. The poor performance of Energy and Petroleum sector companies is of great concern. Financial leverage ranges from debt ratio, debt/equity ratio and interest coverage ratio which are vital since they directly affect the financial performance of firms. The general objective as to determine the effect of financial leverage on the financial performance of energy and petroleum sector companies listed in the NSE. While the specific objectives were; to establish the effect of debt ratio, debt -equity ratio and interest coverage ratio on financial performance of energy and petroleum sector companies recorded in the NSE. The research was anchored on the following theories: Modigliani-Miller theorem, Pecking Order Theory and Trade-off Theory. The empirical literature review was based on the three objectives of the study and gaps established. The study adopted a descriptive research design. Management of all the 5 energy and petroleum companies listed with the NSE was involved in the study which mainly used secondary data to conclude. Data was analyzed using regression analysis. Analyzed data was presented using tables. Confidence interval of 95% was used by the researcher. The study adopted a multiple regression model (Y = β0 + β1X1 + β2X2 + β3X3 +ε). The findings indicate that the independent variables Debt ratio, Debt to Equity ratio and interest cover ratio affected the financial performance of the firms in the Energy and petroleum sector. Their effect was up to 75.4%. Debt ratio and Debt to Equity ratio had a positive relationship whereas Interest cover ratio had a negative relationship to the firms in the Energy and petroleum sector listed in the NSE. This study recommends that the firms handle their capital structure decisions prudently as the changes in the factors like Debt ratio, Debt to Equity ratio and Interest cover ratio enhance profitability of firms when prudently employed and hence affect the performance of Energy and petroleum firms listed at the Nairobi Securities Exchange. This study also recommends that firms control the amount of interest expense since an increase in interest expense has an effect in that it redu","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132896066","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dividend decisions are the approaches undertaken by the management of an organization to facilitate proper allocation of the cash flows from the business activities. They provide reasonable guidelines for the organization's actions based on the satisfaction of the investors' interests and organizational objectives. They strive to achieve the goals while they seek substantial profitability of the organization. The majority of the studies involving dividend decisions focused on determining the necessity for dividend policies in an organization. Others focused on assessing the Influence of the dividend policies on the stock return of the firm. Therefore, this study investigated the effects of dividend decisions on market performance of share prices for commercial banks listed at Nairobi Stock Exchange. The specific objective is; To determine the impact of dividend payouts on the stock performance of the commercial banks listed at Nairobi Stock Exchange The independent variables in the study is dividend payouts. The dependent variable was the performance of share prices for commercial banks listed at Nairobi Stock Exchange. The theoretical review included the bird in hand theory, information signaling theory, and tax differential theory. The research used a descriptive research design approach for 12 commercial banks' target population in Kenya. The study used secondary sources to collect data, which are the bank's annual data published on the Nairobi Stock Exchange website. The research used the SPSS software for analyzing the collected data. The results show that the constant dividend pay-out ratio and residual dividend policy are the major determinants of market performance of share prices. Discretional dividend policy does not significantly influence market performance of share prices of commercial banks. The study recommends the commercial banks to constantly make proper dividend decisions to ensure good market performance of the share prices.
{"title":"Effect of Dividend Decisions on Market Performance of Share Prices for Commercial Banks Listed at Nairobi Securities Exchange","authors":"Marcy Nekesa, Mary Kiveu Ouma, Peter G Njuguna","doi":"10.35942/ijcfa.v3i2.207","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.207","url":null,"abstract":"Dividend decisions are the approaches undertaken by the management of an organization to facilitate proper allocation of the cash flows from the business activities. They provide reasonable guidelines for the organization's actions based on the satisfaction of the investors' interests and organizational objectives. They strive to achieve the goals while they seek substantial profitability of the organization. The majority of the studies involving dividend decisions focused on determining the necessity for dividend policies in an organization. Others focused on assessing the Influence of the dividend policies on the stock return of the firm. Therefore, this study investigated the effects of dividend decisions on market performance of share prices for commercial banks listed at Nairobi Stock Exchange. The specific objective is; To determine the impact of dividend payouts on the stock performance of the commercial banks listed at Nairobi Stock Exchange The independent variables in the study is dividend payouts. The dependent variable was the performance of share prices for commercial banks listed at Nairobi Stock Exchange. The theoretical review included the bird in hand theory, information signaling theory, and tax differential theory. The research used a descriptive research design approach for 12 commercial banks' target population in Kenya. The study used secondary sources to collect data, which are the bank's annual data published on the Nairobi Stock Exchange website. The research used the SPSS software for analyzing the collected data. The results show that the constant dividend pay-out ratio and residual dividend policy are the major determinants of market performance of share prices. Discretional dividend policy does not significantly influence market performance of share prices of commercial banks. The study recommends the commercial banks to constantly make proper dividend decisions to ensure good market performance of the share prices.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128899416","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Financing decisions have been a challenge to real estate developers in Kenya. This is because, real estate investments are perceived to be capital intensive in nature. It is expected that real estate sector should develop in line with population increases which characterises most emerging economies. However, the provision of housing units per year is below the demand. In Nairobi region the demand for housing is 200,000 units per year while the actual production is estimated to be 50,000 units annually thus outlining a shortage of 150,000 units. Past studies indicate that where a robust financial market prevails, investors are able to access funds for investment projects. This current study seeks to establish the effect of financing option on real estate growth in Kenya. The specific objectives were; to determine the effect of mortgage financing on growth rate of real estate development companies in Kenya, to find out the effect of retained earnings on growth rate of real estate development companies in Kenya, to establish the effect of private equity on growth rate of real estate development companies in Kenya, to determine the effect of joint venture on growth rate of real estate development companies in Kenya and assess the moderating effect of firm size on relationship between financing options and growth rate of real estate development companies in Kenya. This study was be anchored by the following theories namely: lien theory of mortgages, pecking order theory, transaction costs theory, resource dependency theory and housing cycle theory. The target population of this study comprised of all the seventy-two companies who are members of the Kenya Property Developers Association (KPDA). The sample size comprised of twenty three companies which was thirty percent of the sample frame. The sample size was selected using simple random sampling design. This study used descriptive research design with a regression model with the regressor being real estate growth rate which was expressed in growth rates of housing units for each firm. Therefore, this study followed panel data analysis as individual firm data was collected for a time span of five years 2014 to 2018. Results showed that mortgage financing positively but insignificantly affected growth rates of real estate development companies in Kenya. Further results showed that retained earnings as source of financing option impaired significantly growth rates of real estate development companies. Private equity was found to improve growth rates of real estate development companies significantly. Joint venture too positively but insignificantly influenced growth rates of real estate development companies in Kenya. Lastly, firm size was found to be a non-moderator but rather an explanatory variable and impaired growth rates in a significant manner. This study recommended that real estate development companies should increase use of private equity in financing housing projects as this increases gro
{"title":"Financing Options and Growth Rate of Real Estate Development Companies in Kenya","authors":"Geofrey Muturi Njoroge, J. Koori, Fredrick Warui","doi":"10.35942/ijcfa.v3i2.201","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.201","url":null,"abstract":"Financing decisions have been a challenge to real estate developers in Kenya. This is because, real estate investments are perceived to be capital intensive in nature. It is expected that real estate sector should develop in line with population increases which characterises most emerging economies. However, the provision of housing units per year is below the demand. In Nairobi region the demand for housing is 200,000 units per year while the actual production is estimated to be 50,000 units annually thus outlining a shortage of 150,000 units. Past studies indicate that where a robust financial market prevails, investors are able to access funds for investment projects. This current study seeks to establish the effect of financing option on real estate growth in Kenya. The specific objectives were; to determine the effect of mortgage financing on growth rate of real estate development companies in Kenya, to find out the effect of retained earnings on growth rate of real estate development companies in Kenya, to establish the effect of private equity on growth rate of real estate development companies in Kenya, to determine the effect of joint venture on growth rate of real estate development companies in Kenya and assess the moderating effect of firm size on relationship between financing options and growth rate of real estate development companies in Kenya. This study was be anchored by the following theories namely: lien theory of mortgages, pecking order theory, transaction costs theory, resource dependency theory and housing cycle theory. The target population of this study comprised of all the seventy-two companies who are members of the Kenya Property Developers Association (KPDA). The sample size comprised of twenty three companies which was thirty percent of the sample frame. The sample size was selected using simple random sampling design. This study used descriptive research design with a regression model with the regressor being real estate growth rate which was expressed in growth rates of housing units for each firm. Therefore, this study followed panel data analysis as individual firm data was collected for a time span of five years 2014 to 2018. Results showed that mortgage financing positively but insignificantly affected growth rates of real estate development companies in Kenya. Further results showed that retained earnings as source of financing option impaired significantly growth rates of real estate development companies. Private equity was found to improve growth rates of real estate development companies significantly. Joint venture too positively but insignificantly influenced growth rates of real estate development companies in Kenya. Lastly, firm size was found to be a non-moderator but rather an explanatory variable and impaired growth rates in a significant manner. This study recommended that real estate development companies should increase use of private equity in financing housing projects as this increases gro","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123704147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Market reacts differently to various factors ranging from economic political, and socio-cultural. The stock prices of quoted companies in Kenya are affected either positivity or negatively by a number of factors occurring within or without the economic system. Initial public offering is often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded. The initial public offering is a vital step for young entrepreneurial firms, providing them access to the public equity market for the first time. Previous literature had focused primarily on initial public offering under-pricing phenomenon to measure the performance of companies. However, researchers argued that initial public offering pricing, which was a key factor in under-pricing had remained relatively unexplored in literature. The study employed descriptive research design. The study targeted a total population of 7 quoted companies in Nairobi security market, which had issued IPO from 2006-2020. The study depended on secondary data collected from the Nairobi Securities Exchange. Data was analysed by the use of SPSS. From the panel regression analysis, the interclass correlation (rho) was 0.310 implying that 31% of the variations in equity share prices are due to differences among the quoted firms. The within and between R-square was 0.0154 and 0.9967 respectively. The overall R2 was 0.9885, indicating that the variables considered in the model account for about 98.85% percent change in the dependent variables, while the remaining percent change may be as a result of other variables not addressed by this model. Dividend per share improved significantly after the IPO. Dividend per share was also established to improved significantly after the IPO. The study concludes that dividend per share, market capitalization and market liquidity improved in the post going public period. This is due to the proceeds received by companies from the sale of their shares to the public. In addition, the study concludes that firms benefit by going public despite potentially higher agency problems, at least for the first few years after the IPO. Becoming publicly traded provides financial capital to firms that helps them commercialize their products.
{"title":"Macroeconomic Effects of Initial Public Offer and Performance Equity Prices of Firms Listed in Nairobi Securities Exchange, Kenya","authors":"Moses Muchemi Wachira, Peter Ng’ang’a","doi":"10.35942/ijcfa.v3i2.197","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.197","url":null,"abstract":"Market reacts differently to various factors ranging from economic political, and socio-cultural. The stock prices of quoted companies in Kenya are affected either positivity or negatively by a number of factors occurring within or without the economic system. Initial public offering is often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded. The initial public offering is a vital step for young entrepreneurial firms, providing them access to the public equity market for the first time. Previous literature had focused primarily on initial public offering under-pricing phenomenon to measure the performance of companies. However, researchers argued that initial public offering pricing, which was a key factor in under-pricing had remained relatively unexplored in literature. The study employed descriptive research design. The study targeted a total population of 7 quoted companies in Nairobi security market, which had issued IPO from 2006-2020. The study depended on secondary data collected from the Nairobi Securities Exchange. Data was analysed by the use of SPSS. From the panel regression analysis, the interclass correlation (rho) was 0.310 implying that 31% of the variations in equity share prices are due to differences among the quoted firms. The within and between R-square was 0.0154 and 0.9967 respectively. The overall R2 was 0.9885, indicating that the variables considered in the model account for about 98.85% percent change in the dependent variables, while the remaining percent change may be as a result of other variables not addressed by this model. Dividend per share improved significantly after the IPO. Dividend per share was also established to improved significantly after the IPO. The study concludes that dividend per share, market capitalization and market liquidity improved in the post going public period. This is due to the proceeds received by companies from the sale of their shares to the public. In addition, the study concludes that firms benefit by going public despite potentially higher agency problems, at least for the first few years after the IPO. Becoming publicly traded provides financial capital to firms that helps them commercialize their products.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122005841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Zacchaeus Cheruiyot Kirui, Eddie Simiyu, Dominic Ngaba
Financial wellbeing is very important in both a personal and organizational level. Medical doctors are among the well-remunerated workers in Kenya. However, according to Kenya Medical Association 2017 financial information, it indicates that 70% of medical doctors employed under public hospitals in Nairobi City County Kenya are struggling financially. This study sought to determine the impact of financial knowledge on financial wellbeing of medical doctors employed in public hospitals Nairobi County, to determine the effect of demographic factors on financial wellbeing of medical doctors working in public hospitals Nairobi City County, to establish the effect of financial disposition and budgeting habits on financial wellbeing of medical doctors employed in public hospitals Nairobi County, to find out the effect of financial saving behavior on financial wellbeing of medical doctors employed in public hospitals Nairobi County and to define the moderating effect of economic condition on the association between personal financial management and financial wellbeing of medical doctors employed in public hospitals Nairobi County, Kenya. This study was anchored on Keynesian absolute income hypothesis, Prospect theory, Lifecycle savings theory, Permanent income hypothesis, Relative income hypothesis, and Savings and investment hypothesis. This study used descriptive research design and data was collected from a target population of 259 doctors employed by the Nairobi City County government. The Yamane formula was used to obtain the sample size. Primary information assembly was done utilizing a semi-structured survey provided to the specialists through dropping and picking later strategy. Descriptive statistics was used to analyze the gathered information; mean, mode, middle, standard deviation, tables, figures, rates, and frequencies. The relationship between the variables was established by the use of inferential statistics. The knowledge of financial products (b=.354, t = 5.429, P<0.05), financial disposition and budgetary habits (b=.117, t = 2.397, P=.018), and financial saving behavior (b=.110, t = 5.316, P<0.05) had a positive statistically significant association with financial well-being of doctors. A unit increase in personal financial management increased financial wellness by 0.104 (b= .104, t=5.089, P<0.01) and was not moderated by the economic condition of doctors statistically significantly, P=.811. This study concluded that personal financial management was a predictor for financial wellbeing of doctors employed in public hospitals Nairobi City County. Overall, as personal financial management increased, the financial wellbeing increased. The recommendation was that training programs on financial products and diversification of investments are needed for medical doctors at the County level, as a large proportion of medical doctors did not own financial products nor attended training on personal financial management.
财务健康对个人和组织都非常重要。医生是肯尼亚收入较高的工人之一。然而，根据肯尼亚医学协会2017年的财务信息，它表明肯尼亚内罗毕市县公立医院雇用的医生中有70%处于财务困境。本研究旨在确定财务知识对在内罗毕县公立医院工作的医生财务状况的影响，确定人口因素对在内罗毕市县公立医院工作的医生财务状况的影响，确定财务配置和预算习惯对在内罗毕县公立医院工作的医生财务状况的影响。探讨理财储蓄行为对肯尼亚内罗毕县公立医院医生理财幸福感的影响，并探讨经济条件对肯尼亚内罗毕县公立医院医生个人理财与理财幸福感之间关系的调节作用。本研究以凯恩斯的绝对收入假说、前景理论、生命周期储蓄理论、永久收入假说、相对收入假说、储蓄与投资假说为基础。本研究采用描述性研究设计，数据收集自内罗毕市县政府雇用的259名医生的目标人群。采用Yamane公式计算样本量。主要信息的收集是利用提供给专家的半结构化调查，通过放弃和选择以后的策略。采用描述性统计对收集到的信息进行分析;平均值、众数、中间值、标准差、表格、图表、比率和频率。变量之间的关系是利用推理统计建立起来的。金融产品知识(b=。354, t = 5.429, P<0.05)，财务配置和预算习惯(b=。117, t = 2.397, P= 0.018)，财务储蓄行为(b= 0.018)。110, t = 5.316, P<0.05)与医生财务幸福感有显著正相关。个人理财水平每提高一个单位，财务健康水平提高0.104 (b= 0.104, t=5.089, P<0.01)，且不受医生经济状况的影响，P= 0.811。本研究的结论是，个人财务管理是在内罗毕市县公立医院雇用的医生财务健康的一个预测指标。总体而言，随着个人财务管理的增加，财务状况也随之改善。建议是，需要为县一级的医生提供关于金融产品和投资多样化的培训方案，因为很大一部分医生没有金融产品，也没有参加过个人理财培训。
{"title":"Personal Financial Management Practices and Demographic Factors on Financial Wellbeing of Medical Doctors Employed in Public Hospitals Nairobi County, Kenya","authors":"Zacchaeus Cheruiyot Kirui, Eddie Simiyu, Dominic Ngaba","doi":"10.35942/ijcfa.v3i2.193","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.193","url":null,"abstract":"Financial wellbeing is very important in both a personal and organizational level. Medical doctors are among the well-remunerated workers in Kenya. However, according to Kenya Medical Association 2017 financial information, it indicates that 70% of medical doctors employed under public hospitals in Nairobi City County Kenya are struggling financially. This study sought to determine the impact of financial knowledge on financial wellbeing of medical doctors employed in public hospitals Nairobi County, to determine the effect of demographic factors on financial wellbeing of medical doctors working in public hospitals Nairobi City County, to establish the effect of financial disposition and budgeting habits on financial wellbeing of medical doctors employed in public hospitals Nairobi County, to find out the effect of financial saving behavior on financial wellbeing of medical doctors employed in public hospitals Nairobi County and to define the moderating effect of economic condition on the association between personal financial management and financial wellbeing of medical doctors employed in public hospitals Nairobi County, Kenya. This study was anchored on Keynesian absolute income hypothesis, Prospect theory, Lifecycle savings theory, Permanent income hypothesis, Relative income hypothesis, and Savings and investment hypothesis. This study used descriptive research design and data was collected from a target population of 259 doctors employed by the Nairobi City County government. The Yamane formula was used to obtain the sample size. Primary information assembly was done utilizing a semi-structured survey provided to the specialists through dropping and picking later strategy. Descriptive statistics was used to analyze the gathered information; mean, mode, middle, standard deviation, tables, figures, rates, and frequencies. The relationship between the variables was established by the use of inferential statistics. The knowledge of financial products (b=.354, t = 5.429, P<0.05), financial disposition and budgetary habits (b=.117, t = 2.397, P=.018), and financial saving behavior (b=.110, t = 5.316, P<0.05) had a positive statistically significant association with financial well-being of doctors. A unit increase in personal financial management increased financial wellness by 0.104 (b= .104, t=5.089, P<0.01) and was not moderated by the economic condition of doctors statistically significantly, P=.811. This study concluded that personal financial management was a predictor for financial wellbeing of doctors employed in public hospitals Nairobi City County. Overall, as personal financial management increased, the financial wellbeing increased. The recommendation was that training programs on financial products and diversification of investments are needed for medical doctors at the County level, as a large proportion of medical doctors did not own financial products nor attended training on personal financial management.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"256 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132473003","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Modern firms have realised the need to take advantage of the opportunities in the emerging markets the concept of centralisation and co sharing of service providers gave rise to Shared Services (SS) and Shared Services Centres (SSC). However, little has been done in sub-Saharan Africa. This study sought to address this gap. For this reason, this study seeks to by determine the effects of shared service centres and financial performance of pan African equipment group in Kenya. The study specifically determined the effects of procurement shared services, finance shared services, inventory management shared services and ICT shared services on financial performance of Pan African equipment group in Kenya. The study was anchored on three theories namely: Transaction Cost Economics Theory, Resource Based View Theory as well as Agency Theory. The study adopted descriptive research design on 137 top-level management staff from the four sectors (mining & mineral processing, civil and infrastructure, power and energy and agriculture & forestry) of operating Pan African equipment group in Kenya. For selecting a sample of 86 participants, stratified random sampling method was used. Semi-structured questionnaires were used to collect primary data. The tool of studies was tested. The study used both face and content validity to assess the validity of the research tool while testing the accuracy of the research tool using the alpha (α) coefficient of Cronbach. The research considered a coefficient of 0.6 or more to be sufficient. Research information, including mean results, normal deviation and frequencies, was analysed using descriptive statistics. Analysis of conceptual material was also used for primary data analysis. Regression analysis was also used to analyse the effects finance shared services, inventory management shared services and ICT shared services on financial performance of Pan African equipment group in Kenya. Finally, the research considered ethical considerations where the permission to carry the study was obtained from the company and respective government bodies. The study concluded that Pan African Group significantly embraced procurement, finance, inventory management and ICT shared services. The study concluded that the firm by sharing procurement services it centralized and enhanced efficiency of purchases, pricing, supplier evaluation and quality control which contributed to peak performance. It was further concluded that to a significant extent finance shared services influenced financial performance of the firm. It was concluded that sharing of inventory management services at the firm enhanced effective and efficient inventory planning, costing, quantity and quality management and material optimization hence improving financial performance. It was concluded that database management, automation of processes, information security and network and facilities management services affected financial performance of the firm. It was recommen
{"title":"Shared Service Centers and Financial Performance of Panafrican Equipment Group in Kenya","authors":"Louiza Mogoa, J. Koori","doi":"10.35942/ijcfa.v3i2.192","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.192","url":null,"abstract":"Modern firms have realised the need to take advantage of the opportunities in the emerging markets the concept of centralisation and co sharing of service providers gave rise to Shared Services (SS) and Shared Services Centres (SSC). However, little has been done in sub-Saharan Africa. This study sought to address this gap. For this reason, this study seeks to by determine the effects of shared service centres and financial performance of pan African equipment group in Kenya. The study specifically determined the effects of procurement shared services, finance shared services, inventory management shared services and ICT shared services on financial performance of Pan African equipment group in Kenya. The study was anchored on three theories namely: Transaction Cost Economics Theory, Resource Based View Theory as well as Agency Theory. The study adopted descriptive research design on 137 top-level management staff from the four sectors (mining & mineral processing, civil and infrastructure, power and energy and agriculture & forestry) of operating Pan African equipment group in Kenya. For selecting a sample of 86 participants, stratified random sampling method was used. Semi-structured questionnaires were used to collect primary data. The tool of studies was tested. The study used both face and content validity to assess the validity of the research tool while testing the accuracy of the research tool using the alpha (α) coefficient of Cronbach. The research considered a coefficient of 0.6 or more to be sufficient. Research information, including mean results, normal deviation and frequencies, was analysed using descriptive statistics. Analysis of conceptual material was also used for primary data analysis. Regression analysis was also used to analyse the effects finance shared services, inventory management shared services and ICT shared services on financial performance of Pan African equipment group in Kenya. Finally, the research considered ethical considerations where the permission to carry the study was obtained from the company and respective government bodies. The study concluded that Pan African Group significantly embraced procurement, finance, inventory management and ICT shared services. The study concluded that the firm by sharing procurement services it centralized and enhanced efficiency of purchases, pricing, supplier evaluation and quality control which contributed to peak performance. It was further concluded that to a significant extent finance shared services influenced financial performance of the firm. It was concluded that sharing of inventory management services at the firm enhanced effective and efficient inventory planning, costing, quantity and quality management and material optimization hence improving financial performance. It was concluded that database management, automation of processes, information security and network and facilities management services affected financial performance of the firm. It was recommen","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116431331","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Financial inclusion is crucial in fostering individual prosperity, poverty eradication and stimulating economic growth. It is therefore a major policy concern for majority of governments across the world. Despite the rampant growth of financial technology in Kenya, the number of adults who are financially excluded is still high among the rural area residents. Lack of financial services access in rural areas has resulted to rural economic growth retardation and inequality. Further, financial exclusion has led to increased poverty levels because those excluded have been forced to depend on their limited savings to pursue their entrepreneurial interests. Small businesses have had no choice but to rely on their inadequate earnings to pursue viable business opportunities. The main objective of this study was to establish the effect of financial technology loans on financial inclusion among the unbanked low-income earners in Makueni County. Descriptive research design was used, with the target population being the unbanked low-income earners over the age of 18 in Makueni County. A sample size of 384 respondents was chosen using the convenience sampling technique. Personal interviews were conducted using an interview guide to collect primary data. The study found that fintech loans have a positive and significant effect on financial inclusion among the unbanked low-income earners in Makueni County. According to the findings of the study, since the unbanked people in Makueni County associate the use of financial technology loans to meeting personal financial needs and especially coping up with day-to-day expenses and emergencies, this study recommends that such people embrace the use of the fintech loans more as it will aid them in improving their financial lives to a greater extent. This is because for instance, by using the fintech loans, they can create employment for themselves and generate sufficient income by financing micro businesses using this credit.
{"title":"Effect of Financial Technology Loans on Financial Inclusion Among the Unbanked Low-Income Earners in Makueni County","authors":"Samson Mutuku Mule, F. Wafula, N. Agusioma","doi":"10.35942/ijcfa.v3i2.183","DOIUrl":"https://doi.org/10.35942/ijcfa.v3i2.183","url":null,"abstract":"Financial inclusion is crucial in fostering individual prosperity, poverty eradication and stimulating economic growth. It is therefore a major policy concern for majority of governments across the world. Despite the rampant growth of financial technology in Kenya, the number of adults who are financially excluded is still high among the rural area residents. Lack of financial services access in rural areas has resulted to rural economic growth retardation and inequality. Further, financial exclusion has led to increased poverty levels because those excluded have been forced to depend on their limited savings to pursue their entrepreneurial interests. Small businesses have had no choice but to rely on their inadequate earnings to pursue viable business opportunities. The main objective of this study was to establish the effect of financial technology loans on financial inclusion among the unbanked low-income earners in Makueni County. Descriptive research design was used, with the target population being the unbanked low-income earners over the age of 18 in Makueni County. A sample size of 384 respondents was chosen using the convenience sampling technique. Personal interviews were conducted using an interview guide to collect primary data. The study found that fintech loans have a positive and significant effect on financial inclusion among the unbanked low-income earners in Makueni County. According to the findings of the study, since the unbanked people in Makueni County associate the use of financial technology loans to meeting personal financial needs and especially coping up with day-to-day expenses and emergencies, this study recommends that such people embrace the use of the fintech loans more as it will aid them in improving their financial lives to a greater extent. This is because for instance, by using the fintech loans, they can create employment for themselves and generate sufficient income by financing micro businesses using this credit.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114892683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Savings and Credit Co-operative Societies (Saccos) in Kenya have realised a tremendous growth in the subsector and are investing huge amount of their scarce financial resources in digital technology to enhance services delivery and offer a wide variety of products and services range, increased membership mobilisation and size, ensure better structure and effective financial performance. Digital financial Services as used in the Saccos industry is as a result of Information Communication Technology revolution commonly referred to as digital commerce. Many Saccos are steadily changing from manual banking system of operations to providing digital Financial (e-banking) services that include internet banking, M-banking and Automated Teller machine support. The adoption of digital financial Services by the Saccos is a strategic attempt to deal with increased cut throat competition from traditional banking institutions and non-banking financial institutions, to cut costs and add value to their services in order to optimise benefits to the shareholders. Despite the fact that Saccos have rapidly adopted digital financial services to provide services, and that they drive a huge section of the financial sector savings of the economy, they have experienced various challenges such as uncertainty and risk due to digital financial services. The study sought to establish the influence of digital financial services on the financial performance of SACCOs in Kakamega County, Kenya. The specific objectives was to determine the effect of the mobile banking, internet banking, use of credit cards and digital funds transfer on the financial performance of SACCOs in Kakamega County, Kenya. The research was guided by three theories of innovation and technology: Diffusion of Innovation Theory, The Theory of Task-Technology Fit Theory and the Technological context, Organisational context and Environmental context Theory.The study used a descriptive research design. The population of study were staff at the three SACCOs operating in Kakamega County. This consisted of 162 respondents who are the staff of the SACCOs. A sample of 49 respondents was taken which forms 30% of the target population which shall be evenly spread across the three SACCOs. The primary data was collected by use of self-administered semi-structured questionnaire.Collected data was analysed through descriptive and inferential statistics by the use of SPSS. Findings were presented by use of tables, frequencies, percentages, means and standard deviation.The study found that the financial performance of the SACCOs was significantly influenced by the digital financial services instituted by the SACCO managements. They demonstrated to have reliable mobile banking system where most of their customers had enrolled on the mobile banking platform and most of customer queries and updates were sorted via the mobile platform.Given the limitations and findings of this study, the researcher recommends that since th
{"title":"Digital Financial Services and Financial Performance of Savings and Credit Cooperative Societies in Kakamega County, Kenya","authors":"K. Wanyonyi, Dominic Ngaba","doi":"10.35942/IJCFA.V3I1.177","DOIUrl":"https://doi.org/10.35942/IJCFA.V3I1.177","url":null,"abstract":"Savings and Credit Co-operative Societies (Saccos) in Kenya have realised a tremendous growth in the subsector and are investing huge amount of their scarce financial resources in digital technology to enhance services delivery and offer a wide variety of products and services range, increased membership mobilisation and size, ensure better structure and effective financial performance. Digital financial Services as used in the Saccos industry is as a result of Information Communication Technology revolution commonly referred to as digital commerce. Many Saccos are steadily changing from manual banking system of operations to providing digital Financial (e-banking) services that include internet banking, M-banking and Automated Teller machine support. The adoption of digital financial Services by the Saccos is a strategic attempt to deal with increased cut throat competition from traditional banking institutions and non-banking financial institutions, to cut costs and add value to their services in order to optimise benefits to the shareholders. Despite the fact that Saccos have rapidly adopted digital financial services to provide services, and that they drive a huge section of the financial sector savings of the economy, they have experienced various challenges such as uncertainty and risk due to digital financial services. The study sought to establish the influence of digital financial services on the financial performance of SACCOs in Kakamega County, Kenya. The specific objectives was to determine the effect of the mobile banking, internet banking, use of credit cards and digital funds transfer on the financial performance of SACCOs in Kakamega County, Kenya. The research was guided by three theories of innovation and technology: Diffusion of Innovation Theory, The Theory of Task-Technology Fit Theory and the Technological context, Organisational context and Environmental context Theory.The study used a descriptive research design. The population of study were staff at the three SACCOs operating in Kakamega County. This consisted of 162 respondents who are the staff of the SACCOs. A sample of 49 respondents was taken which forms 30% of the target population which shall be evenly spread across the three SACCOs. The primary data was collected by use of self-administered semi-structured questionnaire.Collected data was analysed through descriptive and inferential statistics by the use of SPSS. Findings were presented by use of tables, frequencies, percentages, means and standard deviation.The study found that the financial performance of the SACCOs was significantly influenced by the digital financial services instituted by the SACCO managements. They demonstrated to have reliable mobile banking system where most of their customers had enrolled on the mobile banking platform and most of customer queries and updates were sorted via the mobile platform.Given the limitations and findings of this study, the researcher recommends that since th","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129035826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The main purpose of this study was to determine the effects of microfinance services on women owned enterprises in Busia County. The study specific objectives included, to establish the effects of credit on performance of women owned business enterprises in Busia County, determine the effects of financial training on the performance of women owned enterprises in Busia County, examination of the effects of savings on performance of women owned business enterprises ,conceptualization of the effects of social capital on the performance of women owned business enterprises and examine the effects of legal framework on the inclusive business enterprises performance of women owned enterprises in Busia County. The study was guided mainly by the resource - based view theory and institutional theory, among others. The study adopted a descriptive survey research designs while study target population was 500 women owned entrepreneurs in Busia County, Kenya. Stratified random sampling technique was used and the sample size constituted 20% of the total target population thus making a simple size of 100 respondents for this study. The respondents were purposively selected women entrepreneurs, customers of the specific selected microfinance institutions found within Busia county business ecosystem. The questionnaires were used as a tool for primary data collection respectively, both qualitative and quantitative data analysis methodologies were applied by use of spss version 23.0.The study findings revealed that, an increase in credit, finance training, social capital, savings and legal framework by one unit leads to an increase in performance by 0.502, 0.124, 0.081, 0.236, and 0.059 units respectively with a p –value of < 0.05 for each variable. Based on the study findings the researcher can conclude that, women owned enterprises are key drivers to the economic development in Kenya and the study recommends that training program should be emphasized to enhance the financial literacy management for exemplary performance of the enterprises. Savings, social capital, financial training, legal framework and credit services significantly influences performances of women-owned business enterprises. According to the research findings, the frequency of trainings should be increased to keep them abreast with modern methodologies for better performance and financial training programs for women owned business enterprises should be designed to meet the standards needs for women entrepreneurs’ and more so the aspiring new entrants.
{"title":"Microfinance Services and Performance of Women Owned Business Enterprises in Busia County, Kenya","authors":"Christopher Busolo Lusweti, Evans Mwasiaji","doi":"10.35942/ijcfa.v2i3.151","DOIUrl":"https://doi.org/10.35942/ijcfa.v2i3.151","url":null,"abstract":"The main purpose of this study was to determine the effects of microfinance services on women owned enterprises in Busia County. The study specific objectives included, to establish the effects of credit on performance of women owned business enterprises in Busia County, determine the effects of financial training on the performance of women owned enterprises in Busia County, examination of the effects of savings on performance of women owned business enterprises ,conceptualization of the effects of social capital on the performance of women owned business enterprises and examine the effects of legal framework on the inclusive business enterprises performance of women owned enterprises in Busia County. The study was guided mainly by the resource - based view theory and institutional theory, among others. The study adopted a descriptive survey research designs while study target population was 500 women owned entrepreneurs in Busia County, Kenya. Stratified random sampling technique was used and the sample size constituted 20% of the total target population thus making a simple size of 100 respondents for this study. The respondents were purposively selected women entrepreneurs, customers of the specific selected microfinance institutions found within Busia county business ecosystem. The questionnaires were used as a tool for primary data collection respectively, both qualitative and quantitative data analysis methodologies were applied by use of spss version 23.0.The study findings revealed that, an increase in credit, finance training, social capital, savings and legal framework by one unit leads to an increase in performance by 0.502, 0.124, 0.081, 0.236, and 0.059 units respectively with a p –value of < 0.05 for each variable. Based on the study findings the researcher can conclude that, women owned enterprises are key drivers to the economic development in Kenya and the study recommends that training program should be emphasized to enhance the financial literacy management for exemplary performance of the enterprises. Savings, social capital, financial training, legal framework and credit services significantly influences performances of women-owned business enterprises. According to the research findings, the frequency of trainings should be increased to keep them abreast with modern methodologies for better performance and financial training programs for women owned business enterprises should be designed to meet the standards needs for women entrepreneurs’ and more so the aspiring new entrants.","PeriodicalId":119077,"journal":{"name":"International Journal of Current Aspects in Finance, Banking and Accounting","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125029871","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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