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Research Publications (Management Sciences)

Permanent URI for this collectionhttp://ir-dev.dut.ac.za/handle/10321/217

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Author: search.filters.author.Dorasamy, NirmalaHas files: No

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    The extent of debt financing within state-owned corporations in Kenya
    (Virtus Interpress, 2015) Nyamita, Micah Odhiambo; Garbharran, Hari Lall; Dorasamy, Nirmala
    The public sector reforms’ programme in Kenya, has witnessed five state-owned corporations being privatised, and several more, from hotels to banks, have been scheduled to be privatised. However, many of Kenya’s state-owned corporations are in considerable debt, which reduce their value in the process of privatisation. This study attempted to determine the extent and the theory suitable for explaining debt-financing within the state-owned corporations in Kenya from 2007 to 2011. The study applied both descriptive statistics and a hybrid of cross sectional and longitudinal quantitative surveys. The results observed some level of stability on the aggregate long-term debt ratios, with minimal use of stock market instruments, which implied the application of the agency theory.
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    Factors impacting on employee performance: a case study ofthe Royal Swaziland police service
    (Virtus Interpress, 2015) Dorasamy, Nirmala; Mabila, Ndiphethe Olive
    The principal challenge for most organisations is to ensure that the performance of employees will result in the effectiveness and success of any organisation. The Royal Swaziland Police Service (RSPS), in order to differentiate itself from other organisations and ensure survival effectiveness and competitiveness, must render services of high quality. The key findings of the RSPS study suggest that the most positive factors of job satisfaction are receiving respect from the community and relations with colleagues, while the negative aspects are that salaries are not equal to effort put into the job and fear of victimization after voicing a personal opinion.
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    Debt financing structure within the State-owned corporations in Kenya
    (Virtus Interpress, 2015) Nyamita, Micah Odhiambo; Dorasamy, Nirmala; Garbharran, Hari Lall
    The current public sector financial management reforms agenda within the state-owned corporations in Kenya aimed at integrating and aligning their performance to vision 2030, has not yet achieved the traction required. This study, therefore, examined the different types of debt financing strategies applied by the various state-owned corporations in Kenya, in comparison to those applied by state-owned corporations from developed and developing economies. The study specifically revealed that private debt financing, through bank loans and payables is commonly used amongst Kenyan state-owned corporations. While, most state-owned corporations from developed and developing economies, such as in America, Europe, Asia and South Africa, use public debt financing, through financial securities, traded in both domestic and international capital markets.
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    Intermediacy between political control and institutional autonomy : a transformative approach
    (Virtus Interpress, 2015) Dorasamy, Nirmala; Mabila, Ndiphethe Olive
    The public sector is about providing services, managing resources efficiently and securing a return on investment. Producing results and managing performance depends on adaptation, flexibility and creativity. While one may argue for greater control to achieve performance indicators, this has to be underpinned by managerial control systems both internally and externally. Post NPM reforms have tried to respond to the problem of single purpose organisations that have distanced political control. While post NPM reforms tipped the scale toward more political control, it did not restore the balance between control and autonomy. In view of the NPM and post NPM reforms and the accompanying challenges, the paper argues that it is not possible to device a “one size fits all” response to these challenges. In trying to analyse the dilemma of balancing political control and institutional autonomy an institutional theoretical perspective is used by analysing structural and instrumental features (national political environment), cultural features (historical administrative traditions) and external constraints (technical and institutional environments). It needs to be recognised that the aforementioned features have constraints. The structural and instrumental features specify the formal constraints on leaderships decisions. These constraints may give political leaders strong hierarchical control or may not give them much direction, but a lot of potential discretionary influence. The cultural features specify that public organisations develop informal norms and values which lead to a distinct institutional culture. While these informal norms and values are infused in formal structures and decision making, it may be inconsistent with the sub-culture, thereby giving it less systemic influence. The technical and institutional environment which focuses on efficiency production and internal culture may develop beliefs over time that cannot be ignored. Christensen (2008:13) refers to this as the There Is No Alternative principle which has a deterministic potential. While recognising these constraints, the adoption of an institutional perspective provides a more holistic approach to creating synergy between the political and bureaucratic environments.