Effect of Debt Experiences on The Indebtedness of Employees in The Formal Sector in Kenya

Morris Irungu Kariuki PhD
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Morris Irungu Kariuki PhD: Lecturer, Department of Finance and Accounting, University of Nairobi, Kenya

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 10, 414-423

Abstract: This study examined the relationship between debt experiences and indebtedness of formal sector employees in Kenya. Positivism paradigm was used in this study. The study adopted a cross sectional and correlational descriptive research design. The study targeted about 2.4 million employees in the formal sector. Three stage sampling was done, first, cluster sampling and then, stratified sampling and finally random sampling. The study used primary data collected by use of self-administered questionnaires. A pilot test of the questionnaire was conducted on 40 respondents to check its validity and reliability. 384 questionnaires were circulated. Of the returned 337, 292 questionnaires were considered usable. Cronbach’s alpha for likert type items was found reliable (over 0.7). Data analysis used IBM SPSS statistics 21 for descriptive and correlation analysis. Further, OLS Multiple regression models were used to examine the relationship between debt experiences and indebtedness. The findings reveal that debt experiences have a significant effect on indebtedness.

Date: 2022
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