NRU :: Browsing by Author "Tumwebaze, Zainabu"

Browsing by Author "Tumwebaze, Zainabu"

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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
The adoption of integrated reporting: a developing country perspective
(Journal of Financial Reporting and Accounting, 2019) Bananuka, Juma; Tumwebaze, Zainabu; Orobia, Laura
The purpose of this paper is to establish why firms in developing countries are slow to adopt integrated reporting (IR) and what needs to be done to ensure such firms embrace the practice of integrated reporting using evidence from Uganda. Design/methodology/approach – This study uses a narrative cross sectional survey conducted using qualitative data collection techniques specifically the structured interviews. We conducted interviews on senior executive managers of Capital Markets Authority, Professional accountancy bodies, Uganda Securities Exchange (USE) and firms listed on Uganda Securities Exchange. The study also involved an analysis of annual reports of listed firms on USE from 2010 to 2016. Findings – Results suggest that, firms are slow to adopt integrated reporting because of the scarce resources, culture and leadership, stakeholders demand, the regulatory requirement, the effect of globalization and the mindset, lack of awareness about IR and the nature of business and size. Results further suggest that integrated reporting be made mandatory for all firms, especially those that are publicly interested, such as financial institutions, and those that are listed on the stock exchange. Originality/value – IR being an emerging phenomenon there are few empirical studies exploring IR practices in a developing economy perspective. To the best of the authors’ knowledge this is the first paper that provides some insights into IR from a Ugandan perspective using the Diffusion of innovation theory.
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.
Corporate Governance, Internal Audit Function and Accountability in Statutory Corporations
(Cogent Business & Management, 2018) Tumwebaze, Zainabu; Mukyala, Veronica; Ssekiziyivu, Bob; Tirisa, Caroline Bonareri; Tumwebonire, Ashim
The purpose of this study was to establish the contribution of corporate governance and internal audit function on accountability in statutory corporations. This study is cross sectional and correlational. Data were collected through a questionnaire survey of 66 corporations. Data were analysed using Statistical Package for Social Sciences. Correlation results indicate a positive association between corporate governance and accountability as well as internal audit function and accountability while regression results indicate that only internal audit function is a significant predictor of accountability. The regression model shows that both internal audit function and corporate governance predict 36.2% of the variance in accountability of statutory corporations. This study is relevant to policy makers in terms of ensuring strong policies are in place to manage risks and to make sure that there are effective internal controls for better accountability in these enterprises. Whereas both corporate governance and internal audit function had been viewed as possible explanations of accountability, this study only confirms internal audit function as a significant predictor of accountability.
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
Information Asymmetry and Stock Market Participation: Evidence from the Uganda Stock Exchange
(Operations Research Society of Eastern Africa, 2014) Tumwebaze, Zainabu; Orobia, Laura; Kamukama, Nixon
This study sought to examine the association between information asymmetry and perceived stock market participation by medium firms. A sectional survey and correlational analysis approach were employed based on a sample of 118 business tax-payers with annual chargeable incomes above Shs. 50m [USD 17,241] located within Kampala City, the heart of commercial activities in the country. Findings indicate that there is a positive and significant association between information asymmetry and perceived stock market participation by medium firms. Specifically, findings reveal that what matters is information quality. Nonetheless, information quantity counts to a lesser extent. Paucity of African literature made it difficult to corroborate the current study findings. Nonetheless, this study contributes to the dearth of evidence on stock market participation literature in Africa by investigating for
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 sustainability reporting practices in Uganda
(Journal of Intellectual Capital, 2021) Bananuka, Juma; Tauringana, Venancio; Tumwebaze, Zainabu
The objective of the study is to investigate the association between intellectual capital (IC) and sustainability reporting practices in Uganda. The study further examines how individual IC elements (human, structural and relational capital) affect sustainability reporting practices. Design/methodology/approach – This study employs a questionnaire to collect data. Data are analyzed using multiple regression analysis. Findings – Results indicate that IC is significantly associated with sustainability reporting practices. The study also found that human capital and relational capital elements have a positive effect on sustainability reporting practices while structural capital element does not have a significant effect. Originality/value – This study is one of the few studies that examine sustainability reporting by financial services firms in a country where the capital markets are still in their infancy and the major source of external financing are the banks. Its major contribution lies in its focus on how the key IC components explain variations in sustainability reporting practices among financial service firms in Uganda.
Intellectual capital: mediator of board of directors’ effectiveness and adoption of International Financial Reporting Standards
(Journal of Financial Reporting and Accounting, 2020) Tumwebaze, Zainabu; Bananuka, Juma; Alinda, Kassim; Kalembe, Dorcus
The purpose of this paper is twofold: to test whether intellectual capital mediates the relationship between board of directors’ effectiveness and adoption of International Financial Reporting Standards (IFRS) and to examine the contribution of the specific elements of intellectual capital and board of directors’ effectiveness to adoption of IFRS. Design/methodology/approach – This study is cross-sectional. Usable questionnaires were received from 67 microfinance institutions (MFIs) that are members of the Association of MFIs of Uganda. The data was analyzed using Statistical Package for Social Sciences and MedGraph program (Excel version). Findings – Results indicate that intellectual capital mediates the relationship between board of directors’ effectiveness and adoption of IFRS. Results further indicate that board independence and board meetings contribute significantly to the adoption of IFRS unlike board size and board committees. Results also indicate that in the intellectual capital elements, only structural capital and human capital significantly contribute to the adoption of IFRS unlike relational capital. Originality/value – This study provides more insights on our understanding of the relationship between intellectual capital, board of directors’ effectiveness and adoption of IFRS. Specifically, it provides first time evidence of the mediation effect of intellectual capital in the relationship between board of directors’ effectiveness and adoption of IFRS using evidence from an African developing country – Uganda. Further, this paper adds to existing literature on corporate governance and reporting practices, as it provides more
The intention to adopt Islamic financing in emerging economies: evidence from Uganda
(Journal of Islamic Accounting and Business Research, 2020) Bananuka, Juma; Mukyala, Veronica; Tumwebaze, Zainabu
The purpose of this paper is to establish whether there is a relationship between religiosity, religious preferences, firm age and intention to adopt Islamic financing in an emerging economy like Uganda which is a secular state and adopting Islamic financing for the first time. Design/methodology/approach – This study uses a cross-sectional and mixed-methods design. The authors administered closed-ended questionnaires and these were supplemented by semi-structured interviews. Findings – Results indicate that religiosity is significantly associated with intention to adopt Islamic financing. Further, religious experience as a dimension of religiosity is significantly associated with intention to adopt Islamic financing unlike ideology. Religious preferences and firm age are also significantly associated with intention to adopt Islamic financing. A one-way analysis of variance (ANOVA) reveals that there are significant differences in between religions whereby Muslims are more ready for Islamic financing than the Christians are. Research limitations/implications – This study’s main limitation is that it uses evidence from Uganda’s micro businesses which account for 70 per cent of Uganda’s total businesses. It is unclear on whether this study results can be generalized to the remaining 30 per cent of the businesses and if results of this study can be generalized to other national settings. Originality/value – Islamic financing being an emerging phenomenon on the African continent especially in the Sub-Saharan Africa where most countries are secular states, there are few empirical studies exploring religiosity, religious preferences, firm age and intention to adopt Islamic financing in an emerging economy perspective. To the best of the authors’ knowledge, this is the first paper that provides some insights into religiosity, religious preference, firm age and intention to adopt Islamic financing from a Ugandan perspective using a mixed methods research design.
Knowledge management practices and sustainability reporting: the mediating role of intellectual capital
(Journal of Money and Business, 2022) Kyeyune Nakyeyune, Gorrettie; Bananuka, Juma; Tumwebaze, Zainabu; Kezaabu, Saphurah
This study’s aim is twofold: First, to establish the relationship between intellectual capital, knowledge management practices and sustainability reporting practices; second, to examine the mediating role of intellectual capital in the relationship between knowledge management practices and sustainability reporting practices. Design/methodology/approach – This study is cross-sectional and uses a questionnaire survey of accountants in the financial services firms in Uganda. The data were analyzed using Statistical Package for Social Sciences and MediGraph program (Excel version). Findings – Results indicate that intellectual capital and knowledge management practices are significantly related to the sustainability reporting practices among financial services firms in Uganda. Also, intellectual capital mediates the relationship between knowledge management practices and sustainability reporting practices. Originality/value – Using perceptions, this study demonstrates how internal resources and capabilities can promote sustainability reporting in financial services firms in developing countries. Specifically, this study provides first time evidence on the mediating role of intellectual capital in the relationship between knowledge management practices and sustainability reporting practices.
Stock market participation in less developed countries: a perception-based evidence from Uganda
(Cogent Business & Management, 2022) Tumwebaze, Zainabu
This study aims to examine the contribution of participation costs (floatation costs, compliance costs and marketing costs) to stock market participation using evidence from Uganda—a developing country. Using a cross-sectional and correlational research design, data were collected through a questionnaire survey of 219 small and medium enterprises. We used correlation coefficients and linear regression to test our hypotheses. The hierarchical regression analysis results suggest that participation costs such as floatation costs, compliance costs, and marketing costs are significant predictors of stock market participation while firm age and firm size (control variables) are non-significant. The study uses a cross-sectional research design. The major weakness with cross-sectional research designs is that, it is difficult to monitor changes in behavior over time. To the practitioners and policymakers, this study suggests that the Ugandan Capital Market Authority should review the costs (floatation costs, compliance costs, and marketing costs) involved in accessing finance through the stock exchange. This will go a long way in making the stock market an alternative financing option, especially in this era of rising costs of capital provided by other financial intermediaries. The study examines the behavior of the elements of participation costs in explaining stock market participation, an aspect that has not been adequately highlighted in previous studies. Results indicate that among elements of participation costs, floatation costs are more significant, followed by compliance costs. Market costs turnout to be the least participation cost in explaining stock market participation.

Browsing by Author "Tumwebaze, Zainabu"

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