Cash Control Practices and Financial Efficacy of Manufacturing Firms in Mombasa County of Kenya

Cosmus Karisa Katana, Dr Rashid Fwamba and Dr Tecla Kirwa
Additional contact information
Cosmus Karisa Katana: Department of Economics, Finance and Accounting, Kibabii University, Bungoma, Kenya
Dr Rashid Fwamba: Department of Economics, Finance and Accounting, Kibabii University, Bungoma, Kenya
Dr Tecla Kirwa: Department of Economics, Finance and Accounting, Kibabii University, Bungoma, Kenya

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 6, 60-71

Abstract: The study aimed to test the influence of cash control practices on financial efficacy of manufacturing firms in Mombasa County of Kenya. This study was anchored on Trade off Theory. The research adopted descriptive research design. The target population for the study was 611 employees of the 31 manufacturing firms in Mombasa County. The sample size was 62 respondents comprising of chief executive officers and finance officers of the manufacturing firms selected using purposive sampling method since they are the ones exclusively dealing with financial matters on daily basis. Primary and secondary data was used. Structured questionnaires used, which were both open and closed ended, collected primary data while audited annual financial statements of manufacturing firms provided secondary data. Kaiser-Meyer-Olkin (KMO) Measured of Sampling Adequacy of cash controls was at 0.795 which was above 0.5. Inferential and descriptive statistics was used in analyzing data through Statistical Package for Social Sciences (SPSS) which conducted the analysis of variance(ANOVA).Inferential statistics included correlation and regression analysis. The confidence level was 95% with an error margin of 5%. It emerged that cash controls have a significant positive influence on financial efficacy of manufacturing firms in Mombasa County of Kenya. The study concluded that cash control practices have a positive notable influence on the financial efficacy of manufacturing firms in Mombasa county of Kenya. The variable studied was done at the choice of the researcher which therefore limits the comparability of other studies. Therefore, this study recommends further studies should be geared towards focusing on other variables which influence the manufacturing firm’s financial efficacy in the entire coastal region so that a conclusive agreement can thereby be reached.

Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.rsisinternational.org/journals/ijriss/ ... -7-issue-6/60-71.pdf (application/pdf)
https://www.rsisinternational.org/journals/ijriss/ ... asa-county-of-kenya/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:7:y:2023:i:6:p:60-71

Access Statistics for this article

International Journal of Research and Innovation in Social Science is currently edited by Dr. Nidhi Malhan

More articles in International Journal of Research and Innovation in Social Science from International Journal of Research and Innovation in Social Science (IJRISS)
Bibliographic data for series maintained by Dr. Pawan Verma ().