文章基本信息

标题：Asset Structure and Financial Performance: A Case of Firms Quoted Under Commercial and Services Sector at the Nairobi Securities Exchange, Kenya
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作者：Gladys Mwaniki ; Job Omagwa
期刊名称：Research Journal of Finance and Accounting
印刷版ISSN：2222-1697
出版年度：2017
卷号：8
期号：4
页码：192-200
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：This study sought to determine the relationship between the asset structure and the financial performance of the firms quoted under the commercial and service sector at the NSE, Kenya. The target population by the study was the secondary data from the annual reports of the firms. The asset structure is analysed in term of: Property, Plants and Equipment; current assets; intangible assets; and long term investments and funds, which formed the independent variables. The dependent variable of interest was the financial performance of the firms, and was measured in terms of: earning per share; return on assets; return on equity, profit margin (return on sales); and current ratio, by aid of a composite index. A census was done on the entire firms listed under this sector by the year 2014, for a five year period, 2010 to 2014. A document review guide was used to collect the secondary data from the financial statements of the firms under study. A multiple regression analysis (standard) was conducted with the aid of statistical programs SPSS version 21. The results of the study indicate that asset structure had a significant statistical effect on the financial performance. In particular, the study found that: Property, Plants and Equipment, and long-term investments and funds have a statistically significant effect on financial performance, while current assets and intangible assets do not have statistical significance on financial performance. This study concluded that the firms should increase the allocation of resources towards long term investments and funds, and utilize available resources in terms of the Property, Plant and Equipment effectively. Keywords: Asset structure, financial performance, listed firms, commercial and services firms. List of acronyms ROA - Return on assets ROE - Return on equity NSE - Nairobi Securities Exchange EPS - Earnings per Share PPE - Property, Plant and Equipment
其他摘要：This study sought to determine the relationship between the asset structure and the financial performance of the firms quoted under the commercial and service sector at the NSE, Kenya. The target population by the study was the secondary data from the annual reports of the firms. The asset structure is analysed in term of: Property, Plants and Equipment; current assets; intangible assets; and long term investments and funds, which formed the independent variables. The dependent variable of interest was the financial performance of the firms, and was measured in terms of: earning per share; return on assets; return on equity, profit margin (return on sales); and current ratio, by aid of a composite index. A census was done on the entire firms listed under this sector by the year 2014, for a five year period, 2010 to 2014. A document review guide was used to collect the secondary data from the financial statements of the firms under study. A multiple regression analysis (standard) was conducted with the aid of statistical programs SPSS version 21. The results of the study indicate that asset structure had a significant statistical effect on the financial performance. In particular, the study found that: Property, Plants and Equipment, and long-term investments and funds have a statistically significant effect on financial performance, while current assets and intangible assets do not have statistical significance on financial performance. This study concluded that the firms should increase the allocation of resources towards long term investments and funds, and utilize available resources in terms of the Property, Plant and Equipment effectively. Key w ords: Asset structure, financial performance, listed firms, commercial and services firms. List of acronyms ROA - Return on assets ROE - Return on equity NSE - Nairobi Securities Exchange EPS - Earnings per Share PPE - Property, Plant and Equipment