EFFECT OF CORPORATE GOVERNANCE PRINCIPLES ON PERFORMANCE OF NG-CDF IN SHINYALU CONSTITUENCY, KAKAMEGA COUNTY, KENYA
Abstract
The purpose of the study was to establish the effect of corporate governance principles on the performance of NG-CDF, in Shinyalu Constituency, Kakamega County. The study aimed at achieving the following objectives; to assess the effect of accountability on the performance of NG-CDF in Shinyalu Constituency, Kakamega County, to assess the effect of risk management on performance of NG-CDF in Shinyalu Constituency, Kakamega County, to determine the effect of financial reporting systems on performance of NG CDF in Shinyalu Constituency, Kakamega County and to determine the effect of proper record keeping on performance of NG-CDF in Shinyalu Constituency, Kakamega County. The study adopted a descriptive survey design. The survey population was drawn from the 530 education PMCS, and security PMCS within Shinyalu Constituency. The preferred data collection instrument for primary data was a questionnaire. The findings indicated that there was significant positive relationship between corporate governance principles and performance of Shinyalu NG-CDF. This was indicated by correlation coefficient of accountability R=0.639, P=0.000; Financial reporting R=0.527, P=0.000; Financial record keep R=0.652, P=0.0000 and risk management R=0.630, P=0.000. The corporate governance principles significantly influenced performance of Shinyalu NG-CDF by 58.8% (R2=0.588, P=0.000). Therefore, the study recommended that there was need for strict conformity with corporate governance principles in the management of public finance. Particular attention should be directed to transparency and accountability as well as financial reporting system.
Key Words: Accountability, Risk Management, Financial Reporting Systems, Record Keeping
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i4.936
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