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All Journal SEISENSE Journal of Management International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) International Journal of Economics, Education, Law and Social Sciences (IJEELSC)
Tobias Olweny
Jomo Kenyatta University of Agriculture and Technology, Kenya
Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Do Bank Size Moderate Relationship between Banks’ Portfolio Diversification and Financial Performance of Commercial Banks in Kenya? Stephen Githaiga Ngware; Tobias Olweny; Willy Muturi
SEISENSE Journal of Management Vol. 3 No. 2 (2020): SEISENSE Journal of Management
Publisher : SEISENSE (PRIVATE) LIMITED

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1229.72 KB) | DOI: 10.33215/sjom.v3i2.261

Abstract

Purpose- It is complicated to efficiently manage the bank’s portfolio, simultaneously maximize returns and minimize risks while being subject to managerial and regulatory constraints. In the financial industry, the size of a bank is used to assist in capturing economies as well as diseconomies of scale. Design/Methodology- As in cases of most literature from finance, natural logarithms of banks' total assets were made use of to measure commercial banks’ size. The 43 commercial banking institutions having an official license from CBK by December 2017 were the target population of this study. The study analyzed Time-Series Cross-Sectional unbalanced secondary panel data obtained from all the 43 commercial banking institutions in Kenya for fifteen years ranging from 2003 to 2017. Findings- Study findings revealed a positive effect of bank size on ROE and ROA that was significant. Correlation analysis revealed a positive association of bank size on the financial performance of banks in Kenya, which was significant. Bank size had a significant moderating effect on the relationship of banks portfolio diversification and financial performance of banks in Kenya. Practical Implications- The findings on bank size insinuated that a higher size of entire asset of banks is most probable to accelerate the bank to diversify into feasible opportunities on investment, traverse more enhanced lines of business, increase capacity in market power and, produce increased value that boosts the firm to profit from economies of scale and wider scope and henceforth superior and increased financial performance.
GUARANTEES, FIRM SIZE AND FINANCIAL SUSTAINABILITY OF MICRO AND SMALL ENTERPRISES IN KENYA Paul Ng’ang’a Macharia; Tobias Olweny; Cynthia Stella Waga; Jeff Arodi
International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC) Vol. 4 No. 1 (2026): February
Publisher : ZILLZELL MEDIA PRIMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61990/ijamesc.v4i1.681

Abstract

Micro and Small Enterprises play a crucial role in Kenya’s economy, yet their financial sustainability is often weakened by limited credit access and high collateral requirements. This study assesses the effect of guarantees measured through collateral fund requirements on the financial sustainability of Micro and Small Enterprises supported under the National Agricultural and Rural Inclusive Growth Project from 2018 to 2022. Using panel data from 390 enterprises, financial sustainability was evaluated using net profit margin and current ratio, while firm size was measured using the natural logarithm of total assets. Results show that collateral-based guarantees have a significant negative effect on financial sustainability, indicating that stringent collateral demands hinder credit access and strain enterprise performance. The study further finds that firm size positively moderates this relationship, with larger Micro and Small Enterprises better able to absorb the effects of collateral requirements. The study concludes that while guarantees aim to enhance financing, high collateral thresholds can undermine sustainability, particularly for smaller firms. It recommends more flexible guarantee frameworks and policies that strengthen firm capacity to ensure equitable access to finance.
DEBT, FIRM SIZE AND FINANCIAL SUSTAINABILITY OF MICRO AND SMALL ENTERPRISES IN KENYA Paul Ng’ang’a Macharia; Tobias Olweny; Cynthia Stella Waga; Jeff Arodi
International Journal of Economics, Education, Law and Social Sciences (IJEELSC) Vol. 2 No. 2 (2026)
Publisher : PT. ZILLZELL MEDIA PRIMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61990/ijeelsc.v2i2.55

Abstract

This study aims to analyze the effect of debt financing on the financial sustainability of Micro and Small Enterprises (MSEs) in Kenya and to examine whether firm size moderates this relationship. This study employs a descriptive research design using secondary data obtained from the financial statements of MSEs that benefited from the National Agricultural and Rural Inclusive Growth Project (NARIGP) across 21 counties in Kenya during the 2018–2022 period. The sample was determined using the Yamane formula, resulting in 390 MSEs with 1,950 firm-year observations. Debt financing was measured using bank loans, firm size was measured using the natural logarithm of total assets, and financial sustainability was measured using the net profit margin ratio and current ratio. Data were analyzed using panel data regression with EViews 12. The results indicate that debt financing has a positive and significant effect on the financial sustainability of MSEs in Kenya (β = 4.78E-06; p < 0.01). However, firm size does not significantly moderate the relationship between debt financing and financial sustainability (β = 1.29E-06; t = 0.742; p ≈ 0.458). These findings indicate that bank loans can provide resources for working capital, investment, and continuity of business operations, thereby contributing to financial sustainability, while firm size does not significantly alter this relationship. The practical implication is that financial institutions should improve MSE access to appropriately structured bank credit, and MSE owners should direct borrowed funds toward productive and income-generating activities.
Co-Authors Cynthia Stella Waga Jeff Arodi Paul Ng’ang’a Macharia Stephen Githaiga Ngware Willy Muturi