Mirie Mwangi

Relationship Between Internal Audit Practices And Performance Of Water Service Providers In Kenya

The purpose of this study was to establish the relationship between internal audit and organisational performance of Kenyan WSPs. To fulfil the study objective, hypothesis was derived and tested on a population of 93 Water service providers. This cross sectional descriptive study was guided by a positivist study paradigm. The Data Envelopment Analysis approach was used to codify the dependent variable and regression analysis was then applied to test the hypothesis. The null hypothesis was rejected as the regression analysis found that 10.1% of variations in firm performance are explained by variation in internal audit while 89.9% of variations are explained by other variables. This infers that internal audit influences performance of Water service providers in Kenya. The study made contribution to policy formulation and development to benefit the understanding on how internal audit in the Kenyan context influence organizational performance resulting to formulation of reforms in various public institutions to strengthen internal audit.

The Mediating Effect of Firm Growth on the Relationship between Capital Structures and Value of Nonfinancial Firms listed at the Nairobi Securities Exchange (NSE

This study examines the mediating effect of firm growth on the relationship between capital structure and firm value among non-financial listed firms at the Nairobi Securities Exchange. Using hypotheses formulated from existing literature as per the gaps identified and tested. A target population of 36 non-financial firms at the NSE was selected. With a positivistic research philosophy complemented with descriptive research design such as mean, standard deviation, coefficient of variation, kurtosis and skewness and correlation analysis employed. The study used stepwise multiple regression analysis and in testing of hypothesized variables. Capital structure research being one of the most sensitive areas of corporate finance and decisionmaking because of the interrelationships with other components of financial decision. Findings pointed that firm growth has a significant mediating effect and is thus a critical tool that can be used by management when doing capital structures adjustments to ensure efficiency and optimality as firms grow. Policy makers are expected to adopt the results in monitoring listed firms’ investment and funds are raised in the capital markets to reduce the delisting of companies from the NSE owing to non-performance. Capital structure, financial performance, Firm growth, firm value, macroeconomic factors