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首页> 外文期刊>International Journal of Accounting, Finance and Risk Management >Effect of Debt Finance on Financial Performance of Savings and Credit Cooperative Societies in Maara Sub-county, Tharaka Nithi County, Kenya
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Effect of Debt Finance on Financial Performance of Savings and Credit Cooperative Societies in Maara Sub-county, Tharaka Nithi County, Kenya

机译：肯尼亚塔拉卡尼提县马阿拉亚县债务融资对储蓄和信用合作社财务绩效的影响

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Debt financing is the acquisition of funds through borrowing. Most Sacco's results into borrowing to finance their increased customer's demands thus increasing the leverage if not controlled. This study determined the effects of debt finance on financial performance measured ROE. The study investigated the effect of interest rate, loan tenure, debt/equity ratio, and interest coverage ratio on financial performance of savings and credit cooperative societies in Maara Sub-County, Tharaka Nithi County, Kenya. Causal research design and a target population of 10 Sacco's and census survey were used. Secondary data from the Saccos financial statements for the last eight years used. Descriptive and inferential statistics were used with help of Statistical Package for Social Sciences (SPSS) and results presented in tables. A strong positive relationship of 0.984 between debt and ROE was revealed. A negative relationship existed between interest rate, loan tenure and ROE while a positive relationship was revealed between debt equity ratio and interest coverage ratio on ROE respectively. Interest rate, loan tenure and debt equity ratio had significant effect on ROE at t-statistics of 3.474, -2.938, 9.217 and 8.728 respectively with their P-values 0.018, 0.032, 0.000 and 0.000 less than 0.05 respectively.
机译：债务融资是通过借款获得资金。 Sacco的大多数结果都是通过借款来满足他们不断增长的客户需求，从而在不受控制的情况下提高了杠杆率。这项研究确定了债务融资对衡量ROE的财务绩效的影响。该研究调查了肯尼亚Tharaka Nithi县Maara县的利率，贷款期限，债务/权益比率和利息覆盖率对储蓄和信用合作社的财务绩效的影响。使用因果关系研究设计和10个Sacco的目标人群进行普查。 Saccos财务报表中使用的最近八年的辅助数据。在社会科学统计软件包（SPSS）的帮助下使用描述性和推论统计，并将结果显示在表格中。债务与净资产收益率之间呈强正相关关系0.984。利率，贷款期限和净资产收益率之间呈负相关，而净资产收益率的债务权益率与利息覆盖率之间呈正相关。利率，贷款期限和债务权益比率对ROE的影响显着，t统计分别为3.474，-2.938、9.217和8.728，P值分别为0.018、0.032、0.000和0.000小于0.05。

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