Bio

Publications


2014

Omoro, N, Kinyua H, Okiro K.  2014.  Investment in Corporate Social Responsibility and Sustained Growth in Commercial Banks in Kenya. Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB). 3(2):1-22.

2013

Elly, OD, Hellen KW.  2013.  Relationship between Inflation and Dividend Payout for Companies Listed At the Nairobi Securities Exchange. International Journal of Education and Research. 1(6):1-8. Abstractrelationship_between_inflation_and_dividend_payout_for_companies_listed_at_the_nse_20131.pdf

Earlier studies conducted have a mixed opinion on the effect of inflation on dividend payout.
Due to the nominal increase in the volumes of money, which result from the increase in
inflation, at least for a short run, some studies have concluded that inflation has a positive
effect on dividend payout. However, in the long run, studies in general seem to show that the inflation rate and stock returns are negatively related. This study, which consider sa sample of all the firms that consistently paid dividend between the year 2002 to 2011 and were listed at
the Nairobi Security Exchange showed that , inflation rate has no impact on the dividend payout.
However, other variables considered, that is ,the spo tDollar exchange rate to Kenya Shilling
s, the Volumes of Money Supply and the T-Bill rate (91 day rate) show mixed result s. The study
reveals that, the exchange rate and the T-Bill rate have a positive correlation with dividend
payout, while volume of money supplied has no impact on the dividend payout.
Key Words:
Nairobi Securities Exchange (NSE), Dividend Payout, Inflation, Exchange Rate,Money Supply, T-Bill rate.

2010

Kinyua, H.  2010.  AN INVESTIGATION INTO THE FACTORS HINDERING THE DEVELOPMENT OF COMMERCIAL PAPER MARKET IN KENYA . Abstract

Commercial paper in Kenya is recent compared with major and developed economies like the USA and European countries. The principal advantage of commercial paper as a source of short-term financing is that it is generally cheaper than a short-term business loan from a commercial bank. Studies have concluded that firms that substituted short-term bank loan with a commercial paper experienced significant interest savings up to 5.85% on average.
The study comprised of all firms that met the CMA requirements with a sample of 100 firms being selected. Approval time by CMA and NSE, lack of adequate information and cost of issuance were found to have impacted on the development of commercial papers in Kenya

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