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All Journal SEISENSE Journal of Management
Cheboi, Josephat
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Economics, Econometrics & Finance Social Sciences

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Mediating Effects of Financial Innovations between Behavioral Factors and Financial Inclusion of Micro Enterprises in Kenya Byegon, Gladys; Cheboi, Josephat; Bonuke, Ronald
SEISENSE Journal of Management Vol. 2 No. 6 (2019): SEISENSE Journal of Management
Publisher : SEISENSE (PRIVATE) LIMITED

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (740.707 KB) | DOI: 10.33215/sjom.v2i6.227

Abstract

Purpose: Understanding the mediating role of the adoption of financial innovations on the relationship behavioral factors and utilization of formal financial services was the main aim of this research. The behavioral factors examined were self-control, confidence and social proof. The study is premised on behavioral finance theories. Design/Methodology: The positivist approach and explanatory research designs were adopted to understand the relationships between the variables under investigation. A sample of 486 owners/managers of licensed micro-enterprises in Nairobi, Kenya were selected using stratified random sampling technique. Primary data was collected through a structured questionnaire. Hypotheses were tested using Hayes and Zhao approach for mediation analysis. Findings: The results showed that financial innovations mediated the relationship between each of the behavioral factors and financial inclusion, that is; self- control (β =.0941, ρ= .00), confidence; (β = .1019, ρ = .00) and social proof (β = .1036, ρ = .00). Practical implications: The study has brought into fore the mediating role of financial innovations on the relationship between the three behavioral factors and financial inclusion. Thus, practitioners are encouraged give due attention to behavioral factors and financial innovations in policy formulation and programs geared towards optimal utilization of financial services.
Accounting Conservatism as a Protective Mechanism: Exploring Its Impact on the Relationship Between Financial Decisions and Likelihood of Financial Distress among Listed Firms in Kenya Maiyo, Rodgers; Cheboi, Josephat; Limo, Patrick
SEISENSE Journal of Management Vol. 8 No. 1 (2025): SEISENSE Journal of Management
Publisher : SEISENSE (PRIVATE) LIMITED

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33215/v9y9ph37

Abstract

Purpose- This study investigates the moderating role of accounting conservatism in the relationship between corporate financial decisions (financial leverage, investment rate, and dividend payout policy) and the likelihood of financial distress among firms listed on the Kenyan Securities Exchange.Design/Methodology- The study analyzed a sample of 45 firms over 14 years from 2008 to 2021, resulting in 630 firm-year observations. Panel logistic regression was employed to assess secondary data from annual financial reports.Findings- Results reveal that financial leverage and investment rate significantly increase financial distress risk, while dividend payout policy has a negative effect. Accounting conservatism moderates these relationships by reducing the impact of financial leverage and enhancing the effect of dividend policy.Practical Implications- Managers should implement conservative accounting practices to align incentives with long-term shareholder interests, ensuring prudent financial reporting and minimizing financial distress risks. Originality- This research contributes to the understanding of financial decisions and distress, offering insights into the role of accounting conservatism in promoting corporate financial stability.
Co-Authors Bonuke, Ronald Byegon, Gladys Limo, Patrick Maiyo, Rodgers