SU+ Digital Repository

SU+ is an online repository for the preservation and promotion of assorted digital content at Strathmore University

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Conferences / Workshops / Seminars + 474
Documents and Proceedings of Conferences, Seminars, Workshops (and more) held at Strathmore University
Digital Archives 178
Assorted collections of resources covering various subject themes contributed by Faculty and Library Staff
Reports / Policies + 10
Public reports and policy documents
Research / Researchers / Publications 4704
Researcher Profiles / Conference presentations / Published research articles / Faculty and Corporate research outputs
Strathmore Heritage Collection 56
A digital chronicle of the History of the University presented through a mix of pictures, videos and digitized publications

Recent Submissions

The Moderating role of bank size on sovereign debt exposure and financial stability of commercial banks in Kenya
(Strathmore University, 2026) Njuguna, Judy Wambui
The growing exposure of commercial banks to sovereign debt in developing economies has raised critical concerns regarding financial stability, particularly within the context of Kenya’s evolving fiscal landscape. This study addressed this gap by examining the moderating role of bank size on the relationship between sovereign debt exposure and the stability of commercial banks in Kenya. The general objective was to determine how bank size conditions the effects of sovereign debt exposure on bank stability, while the specific objectives focused on sovereign debt concentration, crowding-out of private credit, and sovereign credit ratings. The study was anchored on the sovereign– bank nexus (doom loop) theory and moral hazard theory, which explain the interconnected risks between government debt and banking sector stability. A positivist research philosophy and an explanatory research design were adopted to facilitate objective hypothesis testing. The target population comprised 39 licensed commercial banks in Kenya, from which an unbalanced panel dataset of 507 observations covering the period 2010–2024 was constructed using secondary data obtained from audited financial statements and Central Bank of Kenya reports. The study employed panel data econometric techniques, specifically the Random Effects Generalized Least Squares (GLS) model. Bank stability was measured using the Z-score, while sovereign debt exposure was proxied through sovereign debt concentration, private sector loans to total assets, and sovereign credit ratings, with bank size introduced as a moderating variable. The findings revealed that sovereign debt concentration significantly reduces bank stability, while sovereign credit ratings and profitability enhance stability. Bank size exhibited a significant moderating effect, indicating that the impact of sovereign exposure varies across large, medium and small banks. The results also showed that asset quality deterioration weakens stability, while crowding-out effects were not statistically significant in the direct model. The study concluded that excessive sovereign debt exposure poses systemic risks to the banking sector, and that bank size plays a critical role in shaping resilience. Policy recommendations include strengthening macroprudential regulations to limit excessive sovereign exposure, enhancing capital requirements, and adopting differentiated regulatory frameworks that account for bank size heterogeneity. Key words: Sovereign debt exposure, sovereign debt concentration, Sovereign bank nexus, bank stability, bank size,
Effect of deposit insurance on stability of commercial banks in Kenya: moderating role of bank size
(Strathmore University, 2026) Fardosa, Hassan
Bank stability is fundamental to financial system resilience, depositor confidence, and sustainable economic growth, particularly in emerging banking systems. This study examined the effect of deposit insurance on the stability of commercial banks in Kenya and the moderated role of bank size, focusing on deposit insurance coverage, depositor protection, and deposit insurance funding. The main objectives of the research were to determine the effect of deposit insurance coverage on the stability of commercial banks in Kenya, to establish the effect of depositor protection on the stability of commercial banks in Kenya, to assess the effect of deposit insurance funding on the stability of commercial banks in Kenya, and to determine the moderating effect of bank size between deposit insurance and bank stability. Anchored in moral hazard and bank-run theories, the study adopted a positivist research philosophy and a quantitative, descriptive research design. Using an unbalanced panel dataset of 38 licensed commercial banks from 2015 to 2024, secondary data were sourced from banks’ audited financial statements, the Central Bank of Kenya, and the Kenya Deposit Insurance Corporation. Data analysis combined descriptive statistics with panel econometric techniques. Fixed Effects and Random Effects models were estimated, with selection guided by the Hausman specification test and supported by robustness analysis using Feasible Generalized Least Squares (FGLS). The empirical findings reveal that deposit insurance coverage and depositor protection do not exert a statistically significant within-bank effect on stability once unobserved heterogeneity is controlled for under the Fixed Effects specification. However, robustness analysis using FGLS indicates that depositor protection is positively and significantly associated with asset quality ratio, suggesting potential market-discipline weakening effects consistent with moral hazard dynamics. Deposit insurance funding emerged as a relevant dimension, exhibiting a weak but positive association with asset quality ratio. These underscores increased risk taking by banks with high deposit insurance funding. Interaction effects reveal that bank size does not moderate the relationship between deposit insurance and stability; however, bank size is a significant direct determinant of stability, reflecting diversification and scale advantages. These findings offer policy-relevant insights for strengthening Kenya’s deposit insurance framework through appropriate design of the DIS and supervisory complementarity to strengthen banking stability. Keywords: Deposit Insurance, Bank stability, Depositor Protection, Moral Hazard, Bank Run
Social factors affecting women groups’ investment behaviour in Nairobi’s Mathare informal settlements
(Strathmore University, 2026) Ngugi, Regina Wanjiku
From a world population of slightly above eight billion people as estimated by the United Nations as at November 2022, Informal settlements or slums dominate the urban landscape and were the home to almost One point one two billion people as of the same year. The world population of women in the same year was estimated at 3.95billion. More than 50 per cent of the urban female population this year was estimated to be staying in the informal settlements. Research has shown that the majority population in informal settlements is economically marginalized and experiencing high poverty levels. As such, they depend on informal sources of finance (self-help groups) to meet their financial requirements. The bulk of the studies have focused on savings and lending within women's groups, with minimal consideration of converting these savings into investments, whether individually or as a group. This study aimed to examine the nature of investment exhibited by women in informal settlements and the factors that inform this investment. The research was done in the Mathare informal settlement. It was an explanatory research design study guided by Prospect theory and the Modern Portfolio, using questionnaires and Focus group discussions as means of data collection. Data from the questionnaire was analyzed using a regression model to determine the extent to which each independent variable influenced the dependent variable. In the correlation analysis, all the research variables, such as Education, Spousal Support) and Age, all influenced the investment behaviour of women in informal settlements in Nairobi, Kenya, positively. The results of the regression analyses also indicated that the social factors investigated accounted for the variation among the women in the informal settlements of Mathare in Nairobi. The chi-square test statistics, show that all social factors significantly positively impacted investment behaviour. This research therefore finds that social factors can influence women's behaviour in the informal settlements of Mathare in Nairobi regarding investment. The research further concluded that these factors must be aligned with the particular investment behaviours to enhance investment behaviour. Non-governmental Organisations (NGOs) are encouraged to participate in training and the acquisition of skills needed to handle finances. The research suggests that the government of Kenya's existing funds should be increased to support the improvement of these skills. The research also suggests that women investors should be advised to invest more in their awareness and knowledge of investment trends and opportunities through means such as attending business seminars and engaging investment advisors. Key words: Social factors, Investment behavior, Education level, age, marital status, saving, women groups
Factors influencing the financing choice among creative enterprises in Nairobi County, Kenya: the moderating role of government support
(Strathmore University, 2026) Kahariri, Kevin Kariuki
In Nairobi County, Kenya, creative businesses' sustainability and expansion depend critically on their financial decisions. The aim of this investigation was to look at the elements affecting financing choices for creative enterprises. Based on the Life Cycle Theory of Financing and the Pecking Order Theory, the research investigated using government support as a moderating factor how growth possibilities, ownership, asset tangibility, and financial literacy affect financing decisions. Targeting 100 creative businesses across ten creative industry sub-sectors, categorised by UNCTAD, the study used a descriptive correlational research design. Structured questionnaires gathered data; PLS-SEM was used for analysis. This investigation is aimed to provide insightful analysis of the financing practices of creative businesses and guide policy and financial institutions on the creation of initiatives catered to this sector. From the results, the study found out that ownership control determines significantly financing choices among the creative enterprises under study. Growth opportunities is an insignificant determinant of financing choice among the creative enterprises under study. Asset tangibility determines significantly financing choice among the creative enterprises under study. Financial literacy determines significantly financing choice among the creative enterprises under study. The investigation concluded that government support does not have a moderating effect on the determinants of financing choice for creative enterprises. The study recommends that entrepreneurs adopt more formalized and diversified ownership structures. Creative businesses under study should align their financing choices with scalable and sustainable business models. The creative businesses under study should strategically utilize their intangible assets such as intellectual property, brand equity, and digital content as part of their financing strategies. The study further recommended that it is essential for the businesses under study to prioritize financial literacy as a foundational element of entrepreneurial success. Key words: financing choice, growth opportunities, ownership control, tangibility of assets, financial literacy, government support, creative businesses, Nairobi County, Kenya.
Organizational factors influencing the credit risk management strategies by digital credit providers in Kenya
(Strathmore University, 2026) Hanafi, Sheikh Abdi Ali
Digital lending has transformed access to credit using digital technologies, leading to the rapid growth of Digital Credit Providers (DCPs) in Kenya. However, increased access to credit has also heightened concerns regarding credit risk, loan defaults, and consumer protection. In response, the Central Bank of Kenya introduced Digital Credit Provider regulations in 2022 to strengthen consumer protection and influence credit risk management practices within the sector. Guided by the Resource-Based View and Prospect Theories, this study examined the credit risk management strategies employed by DCPs, the organizational factors influencing their adoption, and management perceptions regarding their effectiveness. The study adopted positivist and post-positivist philosophies and utilized mixed-methods research design. Primary data were collected through online semi-structured questionnaires administered to licensed Digital Credit Providers in Kenya. The findings from 93 DCPs indicate that Digital Credit Providers employ various credit risk management strategies, including loan structuring and limits, automated collection and warning systems, dynamic credit scoring models, and partnerships or credit guarantees. Organizational characteristics such as years of operation, firm size, and credit management training were found to influence the adoption of selected credit risk management strategies. The study further established that DCPs are increasingly leveraging artificial intelligence, machine learning, alternative data, and adaptive credit scoring models to enhance credit risk management. However, the implementation of these technologies is constrained by technical challenges, limited availability of quality data, and regulatory requirements relating to data privacy and consumer protection. The study concludes that the future of digital credit risk management will depend on balancing technological innovation, regulatory compliance, and consumer protection. It recommends increased investment in advanced analytics and data infrastructure by DCPs, strengthening regulatory frameworks by policymakers, and support for capacity building and governance by investors and development partners. Further research should examine digital lending practices across different jurisdictions and institutions to enhance the sustainability and effectiveness of credit risk management strategies.