Graduate School of Business
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- ItemEffectiveness of corporate governance systems on zambian’s cooperatives. a case of agricultural and commercial cooperative society of Zambia ltd.(The University of Zambia, 2020) Mwiya, MukambaThe main objective of this was to examine the importance of having effective corporate governance systems on the agricultural cooperatives in Zambia. The study used a descriptive design method where a survey was chosen. Primary date was obtained to bring out key findings that shed light on the subject. Research data was analysed using descriptive statistics and for ascertaining association between variables. The study used a respondent sample of 88 in Lusaka. Findings on the first objective, effect of corporate governance found that economic growth, public confidence and stakeholder inclusiveness as confirmed by the principle of the cooperative and Kings iv report for the Agricultural and Commercial Cooperative Society. Findings on the factor that contribute to lack of cooperate governance found that the regulations, rules, laws and acts accentuated less than degree of concern on accountability, transparency, fairness/equity and the independence in the operation of the Society’s corporate governance framework. And findings on processes that can improve Corporate Governance systems at Agricultural and Commercial Cooperative Society found that co-operatives should develop structures and policies that permit and promote active member involvement at appropriate levels. The Cooperative need a framework of ethical and strategic leadership which promotes adoption of corporate governance as stated in fundamental principles of cooperative and Kings iv report, which stakeholders expected to significantly promote effective implementation of the corporate governance framework which was adopted by the Society in 2010, revise By-Laws and cascade revisions of the Cooperative Act number 20 of 1998. The research concluded that cooperatives should integrate the corporate governance framework which was adopted in 2010 to contemporary principles and prosper in promoting accountability, transparency, fairness/equity and appreciation of corporate governance in their operations. It was recommended that members should have a clearly defined rights and responsibilities, maintain separation of the Board and Management, should hold the board accountable for the performance of the Cooperative on behalf of general membership and foster the economic growth of the Cooperative. It was also recommended that members should ensure that corporate governance appreciation, policies and performance are in line with Corporate governance by refining the stated By-Laws of Cooperative. It was further recommended that cooperatives should provide statements on their annual reports disclosing the extent to which they have followed it during their operations and communicate with members in the course of developing strategies that respond to their needs
- ItemAddressing the factors influencing employee retention based on a causal model.(The University of Zambia, 2020) Sishuwa, yvonneEmployee Retention is a process in which employees are encouraged to remain with an organisation for the maximum period of time or until the completion of a project. Successful organisations need to do more than just hire the right people but retain the right people for the jobs. Failure to retain employees results in the loss of knowledge, experience, customer relations and technical skills which are taken to another organisation. The main aim of this study was to identify some of the major factors that influence employee retention in the transport and logistics industry of Solwezi, in order to address the poor retention rates experienced by the industry. The Causal Model was adapted to this study with a focus on workplace structures, individual characteristics, job satisfaction, organisational commitment and intent to stay. The computed sample from the population was 171 but only 144 responded to the semi-structured questionnaires and semi-structured interviews for key respondents from the selected organisations. Descriptive Statistics and Chi-Square tests of independence were used to analyse the collected quantitative while Coding and Categorisation analysis was also used to analyse the qualitative data collected. The findings established that retention was influenced by job satisfaction, job commitment and workplace structures. However, individual characteristics such as education level, contract type and marital status did not have significant influence on employee retention. The qualitative data findings indicated that the poor retention rates were because of the workplace structures. From the findings, it was recommended that employers in the transport and logistics industry should devise employee retention strategies that are focused on enhancing job satisfaction, promoting organisational commitment and create policies that improve workplace structures such as the working environment, communication, work life balance, policies to promote job security and career development.
- ItemExploring the operational efficiency of commercial banks in Zambia.(The University of Zambia, 2020) Mwale, IsaacZambia’s central bank – Bank of Zambia (BOZ) - has reported that the banking sector has been satisfactory in its performance and conduct, it has relied on financial ratio analysis, an approach which has been found to be inadequate in many aspects. Financial ratio analysis as a measure of efficiency can be considered problematic and rigid and may also fail to account for environmental and broad institutional factors as drivers of efficiency and performance. It also fails to differentiate between the different types of efficiency such as scale and x-efficiency. To circumvent these weaknesses, this study adopted a flexible and heuristic approach – the stochastic frontier approach – to unpack and define efficiency in terms of its operational meaning. A Tobit regression was undertaken to establish the determinants of efficiency as well as to investigate quantitatively the internal and external factors which underpin and drive efficiency in the banking sector. The study found that commercial banks in Zambia for the study period were inefficient of order of 10.3%. This suggests that, for the Zambian banking industry as a whole, mismanagement of resources may be an impediment to desirable performance. The Tobit regression revealed that foreign owned banks were on average more efficient than domestic banks, it also revealed that bank inefficiency in the Zambian banking sector was underpinned by bank profitability, high Capital adequacy, greater bank liquidity and high percentage of non-performing loans. Inefficiency means that banks are using a costly combination of inputs to produce a feasible level of output.
- ItemA study of the macro economic factors affecting the value of the Zambian kwacha.(The University of Zambia, 2020) Mwansa, Derick C.This study was aimed at determining the influence of macroeconomic factors on foreign currency exchange rate fluctuations and the value of the Zambian Kwacha. Macroeconomic factors include inflation rates, interest rates, Gross Domestic Product growth rate (GDP) and Balance of Payments which constituted independent variables whilst the dependent variable in the study was the value of the Kwacha against the United States Dollar ($). Secondary data representing annual average covering the period 1993 to 2018 was extracted from various Bank of Zambia and Central Statistical Office reports for the study. The study used regression model, E.Views software version 22 to analyse the data set. The study established that, based on the error correction model, R-squared was 0.6 meaning that 36% of variations in the performance of the kwacha against the US dollar is caused by the four independent variables in the developed model. The results also showed that interest rates and Gross Domestic Product growth rate were negatively related to the performance of the kwacha, while inflation and Balance of Payment rates were positively related to the value of the kwacha at 0.05% level of significance. However, the response of the kwacha with respect to all independent variables was not very responsive as all the variables were inelastic. In addition, the F.Test based on the ANOVA showed that there was no significance between the dependent variable and independent variables. The study, therefore, recommends that both contractionary monetary policy and expansionary fiscal policy can greatly improve the performance of the kwacha against the US dollar in times of economic recession.
- ItemA study of the macro economic factors affecting the value of the Zambian Kwacha.(The University of Zambia, 2020) Mwansa, Derick C.This study was aimed at determining the influence of macroeconomic factors on foreign currency exchange rate fluctuations and the value of the Zambian Kwacha. Macroeconomic factors include inflation rates, interest rates, Gross Domestic Product growth rate (GDP) and Balance of Payments which constituted independent variables whilst the dependent variable in the study was the value of the Kwacha against the United States Dollar ($). Secondary data representing annual average covering the period 1993 to 2018 was extracted from various Bank of Zambia and Central Statistical Office reports for the study. The study used regression model, E.Views software version 22 to analyse the data set. The study established that, based on the error correction model, R-squared was 0.6 meaning that 36% of variations in the performance of the kwacha against the US dollar is caused by the four independent variables in the developed model. The results also showed that interest rates and Gross Domestic Product growth rate were negatively related to the performance of the kwacha, while inflation and Balance of Payment rates were positively related to the value of the kwacha at 0.05% level of significance. However, the response of the kwacha with respect to all independent variables was not very responsive as all the variables were inelastic. In addition, the F.Test based on the ANOVA showed that there was no significance between the dependent variable and independent variables. The study, therefore, recommends that both contractionary monetary policy and expansionary fiscal policy can greatly improve the performance of the kwacha against the US dollar in times of economic recession.