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The purpose of this paper is to investigate the effect of bank specific factors on interest rate in banking financial institutions (BFIs) of Uganda.

To analyze the effect, an OLS random effects regression estimate on a data set of 24 banks from 2008 to 2016 from Bank of Uganda Depository Corporation survey was carried out. Studied bank specific factors including liquidity, operational efficiency, credit risk, capitalization and lending ratio are considered.

The results indicate that liquidity, operational efficiency, capitalization and lending out ratio affect the interest rate while credit risk does not.

The study has confirmed that bank specific factors influence interest rate and other factors such as industry-level and indirect macroeconomic indicators need to be explored. The differences in categories of banks on interest rate would be of importance. Finally, this study concentrated on banks in Uganda, future study would focus on the comparison of Ugandan banks with those of other countries in the East African Region.

Bank managers should invest in up-to-date technology to reduce operational costs and improve efficiency. Managers of bank should take interest on equity mobilization, because it constitutes a cheaper source of capital to finance asset used in operations and long-term needs of borrowers financing. Government should consider a legislation that provides incentives toward savings and reduction in tax for bank inputs.

This is the first study that investigates the effect of bank specific factors on interest rate in Uganda’s BFIs.

The purpose of this paper is to investigate the determinants of interest rate in emerging markets, focusing on banking financial institutions in Uganda.

Using the net interest margin model, interest rate was estimated by applying a panel random effects regression method on 24 banks, while controlling for bank-specific factors, industry and macroeconomic indicators. Data were drawn from annual reports provided by Bank of Uganda Depository Corporation survey from 2008 to 2016.

The results indicate that liquidity, equity capital, market power and reserve requirement have a positive effect on interest rate. The study further finds that operational efficiency, lending out ratio, concentration, public sector borrowing and private sector credit have a negative effect on interest rate. However, credit risk does not influence interest rate.

Studied banks are grouped in one panel data set; future studies would focus on the differences in banks and establish how these differences affect interest rate. Future study would also focus on how the determinants of interest rate in Uganda are compared with those of other banks in other emerging market countries.

Bank managers need to take interest in equity mobilization because it is a reliable and cheaper source of funding bank operations. Banks should emphasize efficient operations to reduce on the cost of doing business. Government should utilize funds borrowed from banks in efficient ways to improve economic growth. The central bank should minimize the use of reserve requirement as a means of controlling money in circulation.

This is the first paper that uses annual report data from several banks and periods to investigate the determinants of interest rate in an emerging country.

The purpose of this paper is to examine the extent to which the constructs of professionalism (Hall, 1968), rewards (Bartol, 1979) and job satisfaction (Stamps and Piedmonte, 1986; Hampton and Hampton, 2004) can be used as valid predictors of organizational commitment (Porter et al., 1974) in an emerging economy context.

Using pre-existing scales for these constructs, the authors collected data from 277 ICPAU licensees’ and carried out a factor analysis to examine their validity. Given the relevance of the organizational-professional conflict (OPC) debate to performance in public and private sector organizations, the authors use ANOVA to assess whether there are significant differences between CPAs in the private and public sectors. We also develop a structural equation model to assess the extent to which organizational commitment can be explained by professionalism, rewards and job satisfaction.

The findings show that the four scales can be used as valid measures in an emerging market environment, albeit with some modifications. The correlations between the study variables are significant (p<0.01) but weak. There are also no significant differences between the scores of private and public sector Certified Public Accountant (CPAs) on professionalism, rewards and organizational commitment. However, there is significantly lower job satisfaction amongst CPAs employed in the public sector. The authors also find that job satisfaction is the best predictor of organizational commitment. Professionalism and rewards are weak predictors of organizational commitment. The fitted model shows that there is a weak fit between organizational commitment and professionalism, rewards and job satisfaction (GFI=0.86, RMSEA=0.086).

The authors modify the extant measurement scales for use in emerging market conditions and show that with some adjustment, they are robust measures of the study variables. The paper also extends the organizational commitment (OC) debate to emerging market conditions and shows that rewards on their own are not enough to ensure organizational commitment amongst professionals. It is important to improve job satisfaction through more enriching work experience.

The purpose of this study was to examine the actions owner‐managers of small businesses undertake in managing working capital.

The study adopted an exploratory research design. The point of saturation was achieved after ten owner‐managers were interviewed. Data were analyzed using content analysis technique with the aid of NVivo software. Verbatim texts were used to explain the emergent themes.

The findings indicate that in the absence of systems, structures and procedures, small business owner‐managers intuitively plan, monitor and control their working capital. The activities undertaken include; reliance on memory and oral agreements, informal planning, assuming inventory limits, unconventional record keeping, cash flow based information management and giving credit to close associates.

A more detailed investigation of the steps in the action sequence ma y advance our understanding of the process. Future studies need to test the effect of personal characteristics on working capital management process.

Owner‐managers of small businesses do not require the same degree of sophistication employed in planning, monitoring and controlling working capital. They require soft skills. Therefore, academicians, practitioners and policy makers need to emphasize knowledge management and cash accounting.

This study examines the process perspective of working capital management, an aspect that has not been adequately highlighted in previous studies.

The present study was carried out with the purpose of establishing a model of effective board governance in Uganda's service sector firms.

This study is cross‐sectional. The analysis was conducted using Analysis of Moment Structures (AMOS) software on a sample of 128 service firms in Uganda. The perceived effective board governance in Uganda was measured by the perceptions of 128 respondents who are managers or directors in each of those service firms. Three confirmatory factor analysis models were tested and fitted.

The three‐dimensional model of effective board governance in Uganda – consisting of control and meetings’ organization, board activity and effective communication – was determined to be the best fitting model. Evidence in support of relevant theories of board governance was adduced.

Although plenty of literature on corporate governance exists, there is scarce literature on effective board governance conceptualization and this together with imprecise terminology regarding this area may have affected the authors’ conceptualization of the study. The authors’ study was limited to the service sector firms registered and operating in Kampala, Uganda and it is possible that their results are only applicable to this sector in Uganda. Nevertheless, policy makers of Uganda dealing with financial markets, academicians, company directors, company owners and even general readers interested in the area of effective board governance might find this paper handy.

The authors believe that application of their model should improve the quality of board governance in Uganda and can also apply to other sectors of Uganda's firms to help avert the problem of ineffective boards as evidenced by consistent firm failures in Uganda. By improving the quality of board governance, Ugandan boards will demonstrate their relevance in company direction and improvement of company value to the benefit of all stakeholders.

The present study provides one of the few studies that have analysed with confirmatory factor analysis (CFA) using AMOS to test effective board governance measurement model and provides a benchmark for Uganda's service firms yearning to leverage the use of their boards.

The purpose of this paper is to examine the mediating effect of intellectual capital on the relationship between board governance and perceived firm financial performance.

This study was cross-sectional. Analyses were by SPSS and Analysis of Moment Structure on a sample of 128 firms.

The mediated model provides support for the hypothesis that intellectual capital mediates the relationship between board governance and perceived firm performance. while the direct relationship between board governance and firm financial performance without the mediation effect of intellectual capital was found to be significant, this relationship becomes insignificant when mediation of intellectual capital is allowed. Thus, the entire effect does not only go through the main hypothesised predictor variable (board governance) but majorly also, through intellectual capital. Accordingly, the connection between board governance and firm financial performance is very much weakened by the presence of intellectual capital in the model – confirming that the presence of intellectual capital significantly acts as a conduit in the association between board governance and firm financial performance. Overall, 36 per cent of the variance in perceived firm performance is explained. the error variance being 64 per cent of perceived firm performance itself.

The authors surveyed directors or managers of firms and although the influence of common methods variance was minimal, the non-existence of common methods bias could not be guaranteed. Although the constructs have been defined as precisely as possible by drawing upon relevant literature and theory, the measurements used may not perfectly represent all the dimensions. For example board governance concept (used here as a behavioural concept) is very much in its infancy just as intellectual capital is. Similarly the authors have employed perceived firm financial performance as proxy for firm financial performance. The implication is that the constructs used/developed can realistically only be proxies for an underlying latent phenomenon that itself is not fully measureable.

In considering the behavioural constructs of the board, a new integrative framework for board effectiveness is much needed as a starting point, followed by examining intellectual capital in firms whose mediating effect should formally be accounted for in the board governance – financial performance equation.

Results add to the conceptual improvement in board governance studies and lend considerable support for the behavioural perspective in the study of boards and their firm performance improvement potential. Using qualitative factors for intellectual capital to predict the perceived firm financial performance, this study offers a unique dimension in understanding the causes of poor financial performance. It is always a sign of a maturing discipline (like corporate governance) to examine the role of a third variable in the relationship so as to make meaningful conclusions.

The purpose of this paper is to present corporate social responsibility (CSR) as an alternative roadmap to accelerating realization of Millennium Development Goals (MDGs) in Uganda, even after 2015.

Using a mixed research methodology, this research documented CSR activities of 16 companies operating in Uganda. Data collection was guided by quantitative and qualitative methodologies (semi-structured interviews with CSR managers, plus non-participant observation of CSR activities and projects linked with MDGs). Triangulation was used to ensure credibility and validity of the results. For data analysis, the authors followed a three-stepwise process, which helped to develop a framework within which the collected data could be analyzed. For generalization of the findings, the authors were guided by the “adaptive theory approach”.

Uganda will not realize any MDGs by 2015. However, CSR activities have the potential to contribute to a cross-section of various MDGs that are more important and relevant to Uganda when supported by the government. If this happens, realization of the MDGs is likely to be stepped up. CSR's potential contributions to the MDGs were found to be hindered by corruption and cost of doing business. Lastly, MDG 8 and MDG 3 were perceived to be too ambiguous to be integrated into company CSR interventions, and to a certain extent were perceived to be carrying political intentions which conflict with the primary business intentions of profit maximization.

Governments in developing countries that are still grappling with the MDGs can use this research when devising collaborations with private-sector companies. These documented CSR activities that contribute directly to specific MDGs can be factored into the priority public-private partnership arrangements. Private companies can also use these findings to frame their stakeholder engagement, especially with the government and also when setting CSR priorities that significantly contribute to sustainable development.

This research advances the “Post-2015 MDG Development Agenda” suggested during the United Nations MDG Summit in 2010, which called for academic and innovative contributions on how MDGs can be realized even after 2015.

Modern renewable energy is crucial for environmental conservation, sustainable economic growth and energy security, especially in developing East African nations that heavily use traditional biomass. Thus, this study aims to examine urbanization and modern renewable energy consumption (MREC) in East African community (EAC) while controlling for gross domestic product (GDP), population growth, foreign direct investment (FDI), industrialization and trade openness (TOP).

This study considers a balanced panel of five EAC countries from 1996 to 2019. Long-run dynamic ordinary least squares (DOLS) and fully modified ordinary least squares estimations were used to ascertain the relationships while the vector error-correction model was used to ascertain the causal relationship.

Results show that urbanization, FDI, industrialization and TOP positively affect MREC. Whereas population growth and GDP reduce MREC, the effect for GDP is not that significant. The study also found a bidirectional causality between urbanization, FDI, TOP and MREC in the long run.

Investing in modern renewable energy facilities should be a top priority, particularly in cities with expanding populations. The governments of the EAC should endeavor to make MREC affordable among the urban population by creating income-generating activities in the urban centers and sensitizing the urban population to the benefits of using MREC. Also, the government may come up with policies that enhance the establishment of lower prices for modern renewable energy commodities so as to increase their affordability.

MREC is a new concept in the energy consumption literature. Much of the research focuses on renewable energy consumption including the use of traditional biomass which contributes to climate change negatively. Besides, the influence of factors such as urbanization has not been given significant attention. Yet urbanization is identified as a catalyst for MREC.

The purpose of this study is to investigate the connections between the regulatory governance, human capital, stakeholder orientation, management control systems (MCSs) and sustainable performance (SP) of power companies. The authors especially looked at how much regulatory governance, human capital, stakeholder orientation and MCSs affect the SP across power companies in Uganda.

This is a cross-sectional and correlational study. Data were collected from 105 power companies using a questionnaire and analysed using SPSS.

Stakeholder orientation, MCSs, human capital and regulatory governance significantly predict variances in the SP of power providers in Uganda. Stakeholder orientation is the most important predictor of SP of power companies.

The absence of validation from important stakeholders and the major reliance on company-provided data in existing research on SP raises the possibility of self-desirability bias. To evaluate and verify the information supplied by firms with external stakeholders, further studies might consider using an explanatory mixed methods technique, in which quantitative data are initially gathered from the managers of power companies and analysed and then validated by interviews with important stakeholders.

Using stakeholder, legitimacy and resource-based theories has provided a better explanation for SP which is a multi-dimensional notion. Moreover, the study adds to the body of perception-based research that offers direct management incentives for SP. The perspectives of managers have been gathered through the use of self-administered questionnaires to gather impressions of managers of businesses, which has helped to tap into all aspects of SP. The study’s results offer, probably for the first time to the best of the authors’ knowledge, evidence of the contextual elements that affect SP in African nations like Uganda particularly in the power sector.

The purpose of this paper is to explore how ISO 26000 inter-marries with millennium development goals (MDGs) with a view to demonstrate and recommend how businesses can successfully use this intermarriage to solve society problems.

Case methodology was used to investigate how a company can use the social responsibility standard, ISO 26000, to guide its corporate social responsibility (CSR) aimed at contributing to MDGs. The paper focussed on the CSR dimension of community involvement and development (CI&D) interventions in health-related MDGs (4, 5 and 6). Data collection was by semi-structured interviews with CSR managers of the studied company, plus non-participant observation of CSR activities and projects. In order to develop a framework within which the collected data could be analyzed, the authors employed pattern-matching, explanation building and time series analysis. For generalization purposes of findings, the authors were guided by the “adaptive theory approach.”

The intermarriage is much revealed in health and wellness. This intermarriage also reveals cross-cutting issues which support universal access to health care and prevent illnesses. Lastly, the intermarriage is symbiotic in nature, that is, MDGs contribute what to achieve while ISO 26000 contributes how to achieve.

The case study (Uganda Baati Ltd, - UBL) that informed this research is a subsidiary company of a multinational, SAFAL Group. This provided an indication that global or trans-national forces drive CSR/CI&D at UBL. Thus, the findings may not fit directly with a company that has a local/national focus of its CSR/CI&D.

The paper presents guidelines to use and localize this intermarriage so as to focus CSR on global socio-economic development priorities, identify strategic stakeholders, and pathways to solutions for complex CI&D issues.

This research advances the Post-2015 MDG Development Agenda suggested during the United Nations MDG Summit in 2010 which called for academic contributions on how MDGs can be realized even after 2015.