Financial control and growth of private primary schools in Kenya

dc.contributor.authorKiambati, Kellen
dc.contributor.authorNjiri, Julius
dc.contributor.authorMwenja, Dominic
dc.contributor.authorMbugua, Levi
dc.date.accessioned2021-02-03T07:49:27Z
dc.date.available2021-02-03T07:49:27Z
dc.date.issued2020-10
dc.description.abstractProper management of finances in private primary schools is very imperative to their operations. There are, however, serious financial challenges in these private schools in Kenya as characterized by unprecedented high fees charged on students. The objective of this study was to assess the role of financial control in the growth of private primary schools in Kenya. The study was guided by the Cash Management Theory that gives emphasis to reasonable ways to deal with organizational finance management and efficient utilization as well as the Endogenous Growth Theory which stipulates that, in the long-run growth rate depends on a stable business environment. The study employed both quantitative and qualitative study design, which targeted 7,418 private primary schools in Kenya. Accessible population constituted of 3,431 heads of schools in four regions of Kenya namely: Nairobi, Central Kenya, Northeastern, and the Coastal regions. A random sampling method was used to draw a sample of 320 respondents who were either the principals’/Head teachers or deputy principal of the schools. A structured questionnaire was used to collect data. Structural Equation modeling using Analysis of Moment Structures was used to analyze the data. The fitness of the hypothesized structural and measurement models was tested using the Normed Fit Index and the Root Mean Squared Error. The overall path coefficients obtained were positive and significant at a 0.05 level of significance. The study established that financial control positively and significantly influenced the growth of private primary schools. The study recommended that private primary schools should have effective budget management mechanisms and strong financial controlsen_US
dc.identifier.citationInternational Journal of Research in Business and Social Science, 9(7)(2020) 267-273en_US
dc.identifier.urihttps://karuspace.karu.ac.ke/handle/20.500.12092/2468
dc.language.isoenen_US
dc.publisherInternational Journal of Research in Business and Social Scienceen_US
dc.subjectFinancial Controlen_US
dc.subjectPrivate Primary Schoolsen_US
dc.subjectGrowthen_US
dc.subjectCash/Budget Managementen_US
dc.titleFinancial control and growth of private primary schools in Kenyaen_US
dc.typeArticleen_US

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