Effects of Socio-Cultural Factors on Consumer Choice of Commercial Banks: A Case of Kenya Commercial Bank in Nakuru Town
David Kipngetich Chepkangor,
Elias Kimutai Rotich,
Quinter Omware
Issue:
Volume 3, Issue 1, January 2015
Pages:
1-9
Received:
4 February 2015
Accepted:
13 February 2015
Published:
25 February 2015
Abstract: Customer choice of bank is an important element of banking strategy in today’s increasingly competitive environment. Bank management must identify and improve upon factors that can increase customer retention. There are factors that influence customer choice of banks as customer still shift from one bank to another and since these factors are several and varied. Examples of such factors are the socio-cultural factors. This study aims to investigate the influence of socio-cultural factors on consumer choice of commercial banks in Nakuru Municipality. Nakuru municipality currently has an establishment of over twenty four banks; these banks have and continue to rely on the attrition of customers from other existing banks and also sourcing for new ones in the market. The research relied on the case of Kenya Commercial Bank in Nakuru municipality. This branch was chosen based on the fact that it has been in existence in Nakuru market for a period of over twenty years and now has a large customer base. In order to collect the required data the population of the study comprised of 396 respondents on whom questionnaires were administered. Systematic random sampling was employed where by each of the tenth customer on the queue was given a questionnaire to complete and return. The Questionnaire was piloted so as to improve its validity. The collected data was coded and analyzed by the aid of Statistical Package for Social Scientists and Microsoft excels computer software and presented in tables and a narrative summary. From the findings, consumer choice of a bank is affected by socio-cultural factors. Culture, sub culture, and group’s influence consumer choice of a bank with a low effect. Personality, lifestyle and family have a very low effect on consumer choice of a bank. Customer service, availability of loan and convenience also affect consumers’ choice. The study recommends that socio-cultural be considered in making decisions concerned with attraction and retention of customers.
Abstract: Customer choice of bank is an important element of banking strategy in today’s increasingly competitive environment. Bank management must identify and improve upon factors that can increase customer retention. There are factors that influence customer choice of banks as customer still shift from one bank to another and since these factors are sever...
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Impact of Cross-Border Listing on Stock Liquidity: Evidence from East African Community
Stephen Matheka Makau,
Samuel Owino Onyuma,
Agatha Nabwire Okumu
Issue:
Volume 3, Issue 1, January 2015
Pages:
10-18
Received:
19 January 2015
Accepted:
1 February 2015
Published:
3 March 2015
Abstract: The purpose of this study was to examine the impact of cross listing on share liquidity for cross listed firms within East African Community, with the domestic market being the Nairobi Securities Exchange. A census was carried out for Kenyan listed firms that have cross-listed into other EAC exchanges in the last five years. Secondary data was collected from the NSE data base. Stock traded volume and turnover were used as proxy measures of stock liquidity. Their means were calculated pre- and post- cross-listing and tested for significance using a paired T-test at five percent level. Most of the results were not statistically significant. Stock liquidity improved for Equity Bank, Nation Media Group and Centum Investments measured by traded volume with that of Equity Bank and Centum being statistically significant. Kenya Commercial Bank stock liquidity declined after cross-listing, though the decline was not statistically significant. Stock liquidity measured by turnover improved for Nation Media Group and Centum shares, while it declined for Equity Bank and Kenya Commercial Bank shares after cross-listing. Again, only results for Centum was statistically significant. Overall, stock liquidity improved for Nation Media Group and Centum shares, while it declined for Equity and Kenya Commercial Bank shares. Generally, it can be concluded that cross-listing improves a firm’s stock liquidity both positively and negatively according to the measure of liquidity utilized, although in most cases that impact was not statistically significant. Based on these findings, the study recommends that corporate managers should consider cross-listing for other reasons such as penetration of new markets but not to improve their stock liquidity.
Abstract: The purpose of this study was to examine the impact of cross listing on share liquidity for cross listed firms within East African Community, with the domestic market being the Nairobi Securities Exchange. A census was carried out for Kenyan listed firms that have cross-listed into other EAC exchanges in the last five years. Secondary data was coll...
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