在内罗毕证券交易所上市的保险公司的宏观经济指标和财务业绩

IF 2.8 3区 经济学 Q2 BUSINESS, FINANCE International Journal of Finance & Economics Pub Date : 2023-09-20 DOI:10.47941/ijf.1450
Margaret Aor Oburu, Richard Ngali, Joshua Matanda
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引用次数: 0

摘要

目的:研究的总体目标是确定宏观经济变量如何影响在内罗毕证券交易所上市的保险公司的财务业绩。这项研究的具体目标是确定通胀、利率、汇率和国内生产总值(gdp)对这些公司的财务业绩有何影响。方法:采用描述性调查研究设计进行调查。在内罗毕证券交易所上市的所有六家保险公司构成了这项研究的目标群体,因此是一种普查式的分析。在调查中使用了面板回归模型,并依赖于使用数据收集表收集的次要信息。数据涵盖的五年期为2017年至2021年。调查结果:根据报告,保险业受到通货膨胀的严重影响。汇率普遍上升,经济增长有波动。根据调查结果,该研究得出结论,保险公司在日益具有挑战性的经济条件下运营,这表明通货膨胀率不断上升。CBR和贷款利率在五年期间呈总体下降趋势,肯尼亚经济汇率变化迅速,由于全球石油危机和COVID-19大流行等各种事件,该国的经济表现发生了重大变化。尽管经济环境恶劣,但在印度证券交易所上市的保险公司的ROA值均在5%以上,显示其财务业绩良好。对理论、实践和政策的独特贡献:该研究建议NSE上市保险公司对通货膨胀进行充分调整,以便在高通货膨胀季节公司不会亏损。该研究还建议在NSE上市的保险公司采用购买更多政府债券期货合约或利率期货的策略,以便能够锁定利率并对冲其各种投资组合。建议在NSE上市的保险公司通过购买现货合约来对冲外汇风险,以缓冲任何负面波动,从而降低汇率风险。政府应通过财政和计划部门采取措施,确保经济的良好表现。
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Macroeconomic Indicators and Financial Performance of Insurance Firms Listed at the Nairobi Securities Exchange
Purpose: The general objective of the study was to determine how macroeconomic variables affected the financial performance of insurance firms listed on the Nairobi Securities Exchange. The study's specific goals were to identify how inflation, interest rates, exchange rates and gross domestic product affected those same companies' financial performance. Methodology: A descriptive survey research design was used for the investigation. All the six insurance companies listed on the Nairobi Securities Exchange made up the study's target group hence a census-style analysis. The panel regression model was used in the investigation and relied on secondary information that was gathered using a data collection sheet. The five-year period covered by the data was from 2017 to 2021. Findings: According to the report, insurance is severely impacted by inflation. There was a general increase in exchange rates and there was a fluctuation in the economic growth. From the findings, the study concludes that the insurance companies were operating on economic conditions that became increasingly challenging as shown by increasing inflation rates. The CBR and lending rates showed a general downward trend in the five years’ period, the exchange rates in the Kenyan economy were changing rapidly, there were major changes in the economic performance of the Country emanating from various occurrences including global oil crisis and COVID-19 pandemic. Despite the harsh economic conditions, the NSE listed insurance companies posted healthy financial performance as shown by ROA values above 5%. Unique contribution to theory, practice and policy: The study recommends that the NSE listed insurance companies to make ample adjustment for inflation so that during seasons of high inflation the firms do not run at a loss. The study also recommends the NSE listed insurance companies firms to employ strategies where they can purchase more futures contracts on government bonds or interest rate futures in order to be able to lock-in interest rate and hedge their various portfolios. The NSE listed insurance companies are also recommended to mitigate the exchange rate risks by hedging the foreign exchange risk by purchasing spot contract to cushion against any negative swing. The government through line ministries of finance and planning should undertake measures to ensure good performance of the economy.
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5.70
自引率
6.90%
发文量
143
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