Does Saving Strategies Enhance Sustainability of Table Banking Groups? Evidence from in Uasin Gishu County, Kenya.
Journal Title: International Journal of Scientific and Technological Research - Year 2018, Vol 1, Issue 1
Abstract
Financial management strategies are crucial determinants of sustainability of table banking groups. It enables groups set clear goals, efficient utilization of resources, proper decisions in sourcing of finances and dividends decision making. The main purpose of this study therefore was to establish the relationship between saving strategies on sustainability of table banking groups was assessed. The study was founded on institution theory of asset accumulation. The study adopted the descriptive survey research design. The target population were all table bank groups in Kenya. The accessible population was 538 registered table bank groups in Uasin Gishu County. A sample of 230 groups was involved in the study. Two stage sampling technique was used to narrow down the sub-counties. Purposive sampling technique was used to select 3 sub-counties out of six sub-counties in Uasin Gishu County. Simple random sampling technique was used to select respondents for the actual study. A pilot study was conducted in order to test the validity and reliability of the research questionnaire. Content validity was used as a validity test while reliability was tested using Cronbach’s alpha coefficient. Self-administered questionnaires were used to collect data. Both descriptive and inferential statistics were used for data analysis. Descriptive statistical tools included frequencies, percentages, mean, variance and standard deviations. Inferential statistics included Pearsons Product Moment Correlation and multiple regression analysis. Findings were presented in tables and graphs. The study found out that savings strategies positively and significantly influence sustainability of table banking groups (β=0.163; p < 0.05. The findings of this study are expected to be employed by table banking groups to ensure business success, hence promoting sustainability and economic development. The study recommended that risk management strategies should be incorporated in financial management strategies. It was also recommended that theories anchored this study should be applied so as to enhance sustainability
Authors and Affiliations
Patroba Jepkoech, Innocent Masase Mochabo
Keywords
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