NRU :: Browsing by Author "Bananuka, Juma"

Browsing by Author "Bananuka, Juma"

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A Qualitative Inquiry on the Determinants of Internet Financial Reporting in Uganda
(Makerere Business Journal, 2018) Bananuka, Juma; Kaawaase Kigongo, Twaha; Musimenta, Doreen; Namusobya, Zainab
The purpose of this paper is to report the factors that may affect the adoption of internet financial reporting in developing countries. Design/methodology/approach – The study used a cross sectional and narrative research design. Semi structured interviews were employed in the study to elicit responses from 35 Chief Finance Officers and Heads of Internal Audit Departments of various financial services firms. Findings – This study finds that stakeholder pressures, financial firm specific characteristics and governance factors are the key factors that may affect the adoption of internet financial reporting in an emerging economy. Originality/value – Internet financial reporting being an emerging phenomenon, there are few or even no qualitative studies that have examined which factors may affect the adoption of internet financial reporting in an emerging economy like Uganda. To the best of the authors’ knowledge, this is the first paper that provides some insights into the determinants of internet financial reporting using interviews.
Accountability in the public health care systems: A developing economy perspective
(Cogent Business & Management, 2017) Bakalikwira, Lasuli; Bananuka, Juma; Kaawaase Kigongo, Twaha; Musimenta, Doreen; Mukyala, Veronica
The purpose of this paper is to report the results of the study carried out to examine the effects of hospital board governance and managerial competencies on accountability in the health care systems in Uganda. This study is cross–sectional and correlational. This study utilizes multiple regression models based on a sample of 52 government hospitals. The study’s unit of inquiry is hospital directors and accountants. The correlation results indicate a significant positive relationship between managerial competencies and accountability. The study further finds that board governance is not significantly correlated with accountability of government hospitals. In terms of hospital governance dimensions; board composition is positively and significantly related with accountability unlike board structure and board independence. The measurements used in all the predictor variables may not perfectly represent all the dimensions although they have been defined as precisely as possible by drawing upon relevant literature. Therefore, further research on other factors that explain the variance in accountability in the health sector is needed. Whereas hitherto, corporate governance and managerial competencies had been viewed as possible explanations of accountability in the public healthcare systems, this study only confirms managerial competencies to be a significant predictor of accountability in the public healthcare systems unlike board governance.
Accountability of local government authorities: A developing economy perspective
(African Journal of Business Management, 2017) Mukyala, Veronica; Bananuka, Juma; Basuuta, Maureen; Tumwebaze, Zainabu; Bakalikwira, Lasuli
The purpose of this study is to report the contribution of internal controls and managerial competencies on accountability of Local Government Authorities (LGAs). This study is cross sectional and correlational. Data were collected through a questionnaire survey of 73 sub counties from which 64 responded and the questionnaire was designed on a 5 point Likert scale. The study’s unit of analysis was a sub county. Senior Assistant Secretaries (SAS) and Sub Accountants (SA) were the study’s unit of inquiry. Data were analyzed through correlation coefficients and ordinary least squares regression using Statistical Package for Social Sciences. The results indicate that internal controls and managerial competencies are significant predictors of accountability of LGAs. However, information technology and control environment as components of internal controls individually do not have a significant association with accountability of LGAs. The study findings further indicate that experience as a dimension of managerial competencies has no significant relationship with accountability of LGAs. The study is limited to LGAs of developing countries particularly those of African setting and it is possible that the results are only applicable to Uganda’s LGAs. Nevertheless, the findings have implications to Governments who may be wishing to improve accountability of their LGAs. To the researchers’ knowledge, this is the first paper to examine the contribution of internal
Adoption of Islamic banking in a non-Islamic country: evidence from Uganda
(Journal of Islamic Accounting and Business Research, 2020) Bananuka, Juma; Katamba, David; Nalukenge, Irene; Kabuye, Frank; Sendawula, Kasimu
This paper aims to examine the concept and practice of Islamic banking in the context of a non-Islamic country such as Uganda. Semi-structured interviews were used to elicit the strategies banks may use to ensure that the Islamic banking system is successful and to ascertain those factors that may hinder its success. Chief executive officers of business associations, heads of committees on Islamic banking and religious leaders were interviewed. The strategies used by financial institutions in ensuring the adoption of Islamic banking are now known such as “creating awareness of Islamic banking’s mode of operation among existing and potential clients.” The findings also show that factors such as “lack of trust among clients” may hinder the success of Islamic banking. The research findings are useful for informing the deliberations of regulators, the business community and financial institutions. The results are applicable only to those countries in the preparation stages of adopting Islamic banking services for the first time, but they could be generalized to any new product launch in any country.
Adoption of Sustainable Entrepreneurship in Small and Medium Enterprises (SMEs) in Developing Countries: Literature Review
(Journal of Advances in Social Science and Humanities, 2018) Sendawula, Kasimu; Turyakira, Peter; Bananuka, Juma
Sustainable entrepreneurship has been internationally acknowledged by both large and SMEs as a competitive strategy. However, there are few studies on the motivation, barriers and strategies of enhancing SMEs adoption of sustainable entrepreneurship particularly in developing economies. Thus, the purpose of this study is to conduct a thorough literature review regarding SMEs adoption of sustainable entrepreneur- ship focusing on the motivation, barriers and the way forward to promote SMEs adoption of sustainable entrepreneurship.
Antecedents of Tax Compliance of Small Business Enterprises: a developing country perspective
(International Journal of Law and Management, 2019) Sadress, Night; Bananuka, Juma; Orobia, Laura; Opiso, Julius
The purpose of this study was to investigate the contribution of attitude towards electronic tax system, adoption of electronic tax system and isomorphic forces to tax compliance of Small Business Enterprises in a developing country in a single study. Design/ methodology - This study is cross sectional and correlational. Data were collected through a questionnaire survey of 214 owner managed Small Business Enterprises in Uganda through their managers. Data were analyzed using Statistical Package for Social Sciences. Findings – Attitude towards electronic tax system, adoption of electronic tax system and isomorphic forces significantly contribute to tax compliance to the extent of 57.4%. Isomorphic forces has a high predictive power of tax compliance as compared with attitude towards electronic tax system. Further, coercive, normative and mimetic isomorphism as constructs of isomorphic forces are significantly associated with tax compliance. Research limitations / implications– Given that this study was cross sectional, monitoring changes in behaviour over time was not possible. The results are useful for policy makers and tax payers in developing countries. These results can also be generalized to other developing countries especially those in Africa and other continents dominated by developing countries. Originality / Value–To the researchers’ knowledge, this is the first study to examine the contribution of attitude towards electronic tax system, adoption of electronic tax system and isomorphic forces to tax compliance of small business enterprises in a developing country in a single study on the African scene.
Attitude and Islamic banking adoption: moderating effects of pricing of conventional bank products and social influence
(Journal of Islamic Accounting and Business Research, 2022) Mindra, Rachel; Bananuka, Juma; Kaawaase, Twaha; Namaganda, Rehma; Teko, Juma
The purpose of this study is to establish the relationship between attitude and the intention to adopt Islamic banking in a Christian-dominated country and whether such a relationship is moderated and boosted by pricing of conventional bank products and social influence. Design/methodology/approach – This study adopts a cross-sectional and correlational design as data were collected between July and September 2019. Data were collected using a questionnaire from a sample of 384 adult individuals with bank accounts in conventional commercial banks from which 300 responded, indicating a response rate of 78%. Findings – The findings of this study indicate that attitude is significantly associated with the intention to adopt Islamic banking. This relationship is moderated and boosted by the pricing of conventional bank products and social influence. The interaction of pricing of conventional bank products with attitude is positive and significantly influence the intention to adopt Islamic banking. The interaction of attitude and social influence is significant but negatively related with the intention to adopt Islamic banking. Research limitations/implications – This study uses quantitative data which sometimes misses certain information and limits the respondent’s opinions on the study variables. A mixed method research needs to be conducted on pricing of conventional bank products, social influence, attitude and adoption of Islamic banking to gather the respondent’s opinions on the variables. Practical implications – IB being an alternative source of financing of business in most parts of the world, existing bank customers, international funding agencies and religious leaders could mount pressure on government to speed up the licensing of institutions interested in offering Islamic banking services. Social implications – Uganda being a secular state and having finalized Islamic banking laws in early 2018, it is surprising that there is no bank that has so far started offering Islamic banking products. Originality/value – This study provides an initial empirical evidence from a Christian-dominated country on the moderating effect of pricing of conventional bank products and social influence in the relationship between attitude and intention to adopt Islamic banking.
Attitude: Mediator of Subjective Norm, Religiosity and Intention to Adopt Islamic Banking
(Journal of Islamic Marketing., 2019) Bananuka, Juma; Kasera, Musa; Muganga, Grace Najjemba; Musimenta, Doreen; Ssekiziyivu, Bob; Kimuli, Saadat Nakyejwe Lubowa
The purpose of this paper is to report on the results of a study carried out to examine the mediating effect of attitude in the relationship between subjective norm, religiosity and intention to adopt Islamic banking in a developing secular state like Uganda. This study’ research design was cross sectional. Closed ended questionnaires were distributed to 258 managers of micro businesses in Uganda. Data were analyzed with the help of SPSS v22 and MedGraph program (Excel version).Attitude is a significant mediator in the relationship between subjective norm and intention to adopt Islamic banking. Also, attitude significantly mediates the relationship between religiosity and intention to adopt Islamic banking. The study used only a single research methodological approach; therefore, future research could be undertaken using a mixed-methods approach. Emphasis should be put on improving the mindsets of Ugandans toward Islamic banking. While there has been a number of studies on Islamic banking, this study provides an initial empirical evidence on the mediation effect of attitude in the relationship between subjective norm, religiosity and intention to adopt Islamic banking in a single study in an African developing secular state like Uganda.
Audit committee effectiveness, internal audit function and sustainability reporting practices
(Asian Journal of Accounting Research, 2021) Tumwebaze, Zainabu; Bananuka, Juma; Kigongo Kaawaase, Twaha; Tirisa Bonareri, Caroline; Mutesasira, Fred
The purpose of this study is to examine the association between audit committee effectiveness (ACE), internal audit function (IAF) and sustainability reporting practices. Design/methodology/approach – Using a cross-sectional and correlational design, useable questionnaires were received from 48 financial services firms in Uganda. The data were analyzed using Statistical Package for Social Sciences. Findings – results indicate that ACE and IAF are positively and significantly associated with sustainability reporting practices. ACE and IAF are more significantly associated with economic and social indicators than environmental sustainability indicators. Research limitations/implications – In terms of practice, it is no longer a matter of having internal auditors and audit committees in place but rather those who are mindful of the welfare of society and the natural environment. The effectiveness of the board audit committee and a functioning internal audit can be assessed in terms of their recommendations and decisions regarding improvements in the welfare of society and the natural environment in addition to the traditionally known performance benchmarks. Practical implications – The study focuses on only financial services firms in Uganda, and this is a small sample. Future studies may focus on larger samples to enable comparison of the results. Originality/value – This study provides insights on the initial understanding of the association between ACE, IAF and sustainability reporting practices using evidence from a developing African country – Uganda.
Audit committee effectiveness, internal audit function and sustainability reporting practices
(Emerald, 2021-10-12) Tumwebaze, Zainabu; Bananuka, Juma; Kaawaase, Twaha Kigongo; Bonareri, Caroline Tirisa; Mutesasira, Fred
Purpose The purpose of this study is to examine the association between audit committee effectiveness (ACE), internal audit function (IAF) and sustainability reporting practices. Design/methodology/approach Using a cross-sectional and correlational design, useable questionnaires were received from 48 financial services firms in Uganda. The data were analyzed using Statistical Package for Social Sciences. Findings results indicate that ACE and IAF are positively and significantly associated with sustainability reporting practices. ACE and IAF are more significantly associated with economic and social indicators than environmental sustainability indicators. Research limitations/implications In terms of practice, it is no longer a matter of having internal auditors and audit committees in place but rather those who are mindful of the welfare of society and the natural environment. The effectiveness of the board audit committee and a functioning internal audit can be assessed in terms of their recommendations and decisions regarding improvements in the welfare of society and the natural environment in addition to the traditionally known performance benchmarks. Practical implications The study focuses on only financial services firms in Uganda, and this is a small sample. Future studies may focus on larger samples to enable comparison of the results. Originality/value This study provides insights on the initial understanding of the association between ACE, IAF and sustainability reporting practices using evidence from a developing African country – Uganda.
Audit committee effectiveness, internal audit function, firm-specific attributes and internet financial reporting: a managerial perception-based evidence
(Journal of Financial Reporting and Accounting, 2022) Bananuka, Juma; Korutaro Nkundabanyanga, Stephen
This study aims to examine the contribution of audit committee effectiveness (ACE), internal audit function (IAF) and firm-specific attributes to internet financial reporting (IFR). It also seeks to understand which ACE and IAF attributes contribute to variances in IFR. Design/methodology/approach – Data are collected through a questionnaire survey of 40 financial services firms. Findings – The analysis shows that ACE and IAF significantly contribute to positive variances in IFR. It also shows that among the firm-specific attributes, only capital structure significantly contributes to positive variances in IFR. Audit committee meetings and authority contribute significantly to positive variances in IFR unlike audit committee expertise and independence. In terms of the IAF attributes, the risk management role and the regulatory compliance role contribute significantly to positive variances in IFR as compared to the governance processes role and evaluation of the internal control role. Originality/value – This study enhances our understanding of the relationship between ACE, IAF, firmspecific attributes and IFR in an environment where IFR is not mandated and where corporate governance practices are very much in infancy. This is especially so given that for the first time, to the best of the authors’ knowledge, the contribution made by ACE, IAF and firm-specific attributes in IFR using evidence from an African developing country (Uganda) is now documented in a single study.
Audit committee effectiveness, isomorphic forces, managerial attitude and adoption of international financial reporting standards
(Journal of accounting in Emerging Economies, 2019) Bananuka, Juma; Walugyo Kadaali, Arafat; Mukyala, Veronica; Muramuzi, Bruno; Namusobya, Zainab
The purpose of this paper is to report the results of a study carried out to establish the contribution of audit committee (AC) effectiveness, isomorphic forces and managerial attitude to the adoption of international financial reporting standards (IFRS). Design/methodology/approach – This study is cross-sectional and correlational. Data were collected through a questionnaire survey of 67 MFIs that are members of the Association of Microfinance Institutions of Uganda (AMFIU). Findings – Both AC effectiveness, isomorphic forces and managerial attitude significantly contribute to the adoption of IFRS. However, the explanatory power of managerial attitude is subsumed in isomorphic forces and AC effectiveness. Results further indicate that AC effectiveness partially mediates the relationship between isomorphic forces and adoption of IFRS. In terms of control variables, ownership and capital structure are not significant predictors of adoption of IFRS. Originality/value – To the authors’ knowledge, this is the first study to investigate the contribution of AC effectiveness, isomorphic forces and managerial attitude to the adoption of IFRS in MFIs using evidence from a developing country on the African scene like Uganda. Further, earlier literature has not tested the mediating effect of AC effectiveness in the relationship between isomorphic forces and the adoption of IFRS which has been reported in this paper.
Business Networking and Internationalization: Testing the Mediation Role of Organizational Learning
(World Journal of Entrepreneurship, Management and Sustainable Development, 2020) Sendawula, Kasimu; Ngoma, Muhammed; Bananuka, Juma; Kimuli, Saadat Nakyejwe Lubowa; Kabuye, Frank
The purpose of this study was to establish the mediation role of organizational learning in the relationship between business networking and internationalization of manufacturing small and medium-sized enterprises (SMEs) using evidence from Uganda. This study is cross sectional and correlational. Data were collected through a questionnaire survey of 96 manufacturing SMEs. Data were analyzed through correlation coefficients, hierarchical regression and mediation analysis using Statistical Package for the Social Sciences and MedGraph - Excel Version.
Corporate governance practices in microfinance institutions: Evidence from Uganda
(Cogent Business & Management, 2018) Ssekiziyivu, Bob; Mwesigwa, Rogers; Bananuka, Juma; Namusobya, Zainab
The purpose of this paper was to identify the corporate governance practices of Micro-finance institutions and to suggest strategies for improving corporate governance in Micro-finance institutions. This study was cross sectional and used a survey research design. Usable questionnaires were received from 179 respondents. Active Micro-finance institutions' members were the study’s unit of inquiry. We analysed data with the help of statistical package for social scientists (SPSS). Findings suggest that Micro-finance institutions have boards though not effective, there are no fully constituted board committees, shareholders rights are sometimes not respected and accountability failures are common. Results further indicate the strategies for improving corporate governance such as having a board in placewith financial expertise. Results are useful in policy formulation for example,Micro-finance institutions need to be regulated and a corporate governance code need to be put in place.
Corporate governance, internal audit quality and financial reporting quality of financial institutions
(Asian Journal of Accounting Research, 2021) Kigongo Kaawaase, Twaha; Nairuba, Catherine; Akankunda, Brendah; Bananuka, Juma
The purpose of this study is to establish the relationship between corporate governance attributes (board expertise, board independence and board role performance), internal audit quality and financial reporting quality using evidence from Uganda’s financial institutions. Design/methodology/approach – This study research design is cross sectional and correlational. The study used a questionnaire survey of Chief Finance Officers, Senior Accountants and Internal audit managers of financial institutions in Uganda. Data were analyzed with the help of Statistical Package for Social Sciences. Findings – Results indicate that board expertise and board role performance are significantly associated with financial reporting quality. Also, internal audit quality is significantly associated with financial reporting quality. Board independence is not a significant predictor of financial reporting quality. Originality/value – This paper provides insights of what matters for financial reporting quality in Uganda’s financial reporting quality. It uses the qualitative characteristics of financial statements to measure financial reporting quality. This paper focuses mainly on the conceptual framework developed by the International Accounting Standards Board.
Corporate governance, internal audit quality and financial reporting quality of financial institutions
(Emerald, 2021-03-10) Kaawaase, Twaha Kigongo; Nairuba, Catherine; Akankunda, Brendah; Bananuka, Juma
Purpose The purpose of this study is to establish the relationship between corporate governance attributes (board expertise, board independence and board role performance), internal audit quality and financial reporting quality using evidence from Uganda's financial institutions. Design/methodology/approach This study research design is cross sectional and correlational. The study used a questionnaire survey of Chief Finance Officers, Senior Accountants and Internal audit managers of financial institutions in Uganda. Data were analyzed with the help of Statistical Package for Social Sciences. Findings Results indicate that board expertise and board role performance are significantly associated with financial reporting quality. Also, internal audit quality is significantly associated with financial reporting quality. Board independence is not a significant predictor of financial reporting quality. Originality/value This paper provides insights of what matters for financial reporting quality in Uganda's financial reporting quality. It uses the qualitative characteristics of financial statements to measure financial reporting quality. This paper focuses mainly on the conceptual framework developed by the International Accounting Standards Board.
Determinants of adoption of International Financial Reporting Standards in Ugandan micro finance institutions
(African Journal of Economic and Management Studies, 2019) Bananuka, Juma; Tumwebaze, Zainabu; Musimenta, Doreen; Nuwagaba, Patience
The purpose of this paper is to report on the results of a study carried out to establish the contribution of board of directors’ effectiveness, intellectual capital (IC) and managerial attitude to the adoption of International Financial Reporting Standards (IFRSs) in microfinance institutions (MFIs). Design/methodology/approach – This study is cross-sectional and correlational. Data were collected through a questionnaire survey of 67 MFIs that are members of the Association of Microfinance Institutions of Uganda. The data were analyzed using statistical package for social sciences. Findings – Both board of director’s effectiveness and IC positively and significantly contribute to the adoption of IFRSs. Managerial attitude is positively and significantly associated with the adoption of IFRSs, but its explanatory power is subsumed in IC. Originality/value – To the authors’ knowledge, this is the first study to investigate the contribution of board of director’s effectiveness, IC and managerial attitude to the adoption of IFRSs in MFIs using evidence from a developing African country like Uganda
Determinants of the intention to adopt Islamic banking in a non-Islamic developing country The case of Uganda
(ISRA International Journal of Islamic Finance, 2019) Bananuka, Juma; Kigongo Kaawaase, Twaha; Kasera, Musa; Nalukenge, Irene
This paper aims to investigate the contribution of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy like Uganda, which is a secular state that is in the early stages of adopting Islamic banking. Design/methodology/approach – This study uses a cross-sectional and correlational research design. Usable questionnaires were received from 258 managers of their own micro businesses. A hierarchical regression analysis was used to test the hypotheses. Findings – Results indicate that attitude and religiosity are significant determinants of the intention to adopt Islamic banking, unlike subjective norm whose predictive power is subsumed in attitude. In the absence of attitude, subjective norm is a significant determinant of intention to adopt Islamic banking. Overall, attitude, subjective norm and religiosity explain 44 per cent of the variance in the intention to adopt Islamic banking in Uganda. Research limitations/implications – This study is cross-sectional, excluding the monitoring of changes in behavior over time. Further, the study used evidence from owner-managed micro businesses in Uganda. It is possible that these results are only applicable to Uganda’s micro businesses. Originality/value – Islamic banking is an emerging phenomenon on the African continent, especially in Sub-Saharan Africa, where most countries are secular states. As such, there are largely no empirical studies exploring the combined contributions of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy after the national adoption of an enabling legal framework. To the best of the researchers’ knowledge, this is the first study that carries out this task.
Institutional pressures, environmental management practices, firm characteristics and environmental performance
(Accounting Research Journal, 2021) Bananuka, Juma; Bakalikwira, Lasuli; Nuwagaba, Patience; Tumwebaze, Zainabu
The purpose of this paper is twofold: to establish the contribution of institutional pressures, environmental management practices and firm characteristics to environmental performance; and to establish whether environmental management practices mediate the relationship between institutional pressures and environmental performance. Design/methodology/approach – Using a cross-sectional design, data were collected through a questionnaire survey of 303 manufacturing firms in Uganda. Data were analyzed using Statistical Package for Social Sciences and MedGraph program (Excel version). Findings – Both environmental management practices and institutional pressures are significant predictors of environmental performance. Results further suggest that environmental management practices partially mediate the relationship between institutional pressures and environmental performance. Variables that represent firm characteristics are not significantly associated with environmental performance. Originality/value – This study provides an initial empirical evidence on the mediating role of environmental management practices in the relationship between institutional pressures and environmental performance. It also enhances our understanding of the contribution of individual dimensions of environmental management practices and institutional pressures to environmental performance using evidence from an emerging economy setting.
Intellectual capital and performance of small and medium audit practices The interactive effects of professionalism
(Journal of Accounting in Emerging Economies, 2019) Kigongo Kaawaase, Twaha; Bananuka, Juma; Kwizina, Thomson Peter; Nabaweesi, Jennifer
The purpose of this paper is to examine the interactive effects of professionalism in the relationship between intellectual capital (IC) and performance of small and medium audit practices (SMPs) within the context of a developing economy, Uganda. Design/methodology/approach – Data were collected through a questionnaire survey of 77 SMPs registered with the Institute of Certified Public Accountants of Uganda through their managing partners. The authors utilized multiple regression analysis to test hypotheses using centered variables and an interaction term between IC and professionalism. Findings – IC is a significant determinant of performance of SMPs in Uganda; while professionalism when acting alone is not significant, however, results have shown that professionalism interacts with IC to enhance performance of SMPs. Research limitations/implications – This study, owing to the absence of publically available published financial statements of SMPs, utilizes a questionnaire to collect data on performance of SMPs which could be less objective. Further, as the study is limited to SMPs in Uganda, it is possible that the results are only applicable to Uganda’s accountancy field. In addition, the use of multiple regression is prone to problems associated with sampling error. However, the likelihood of these problems is mitigated by the interface with data and regression analysis diagnostics that were carried out. Originality/value – This study provides initial empirical evidence on the relationship between IC, professionalism and performance of SMPs in developing economies. The study further indicates that while IC acts independently to influence firm performance, its interaction with professionalism enhances this performance

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