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首页> 外文期刊>European Journal of Business and Management >Perceived Effects of Selected Macroeconomic Indicators on Sustainable Competitive Advantage in Food and Beverage Firms In Kenya
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Perceived Effects of Selected Macroeconomic Indicators on Sustainable Competitive Advantage in Food and Beverage Firms In Kenya

机译：选定的宏观经济指标对肯尼亚食品和饮料公司可持续竞争优势的感知影响

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Kenya’s industrialization, like that of most Sub-Saharan Africa countries, has been slow and continues to grow at an equally slow pace. Key among the constraints to growth are poor economic policies geared at promoting processing and value addition. Being largely an agrarian economy, the country will continue to depend on agricultural led industrialization with the food and beverage processing sector being the largest at 21.8 percent of all manufacturing value add sectors in the country by 2011. Among the key determinants of industrialization is a favourable political and social economic stability that provides a stable macroeconomic environment for both local and foreign investors to put their money into ventures that spur economic growth. This study sought to analyze perceived effects of selected macroeconomic indicators of inflation, exchange and interest rates on the food and beverage manufacturing sector in Kenya. Top executives of 95 firms were surveyed on their perception of the effects of the selected macro- indicators on their firms’ operating environment and economic performance. From the target firms, 32 responded giving a rate of 33.7 percent. Analysis revealed that effects of macroeconomic factors on sustainable competitive advantage of food and beverage firms in Kenya was not statistically significant (p= .142) for inflation, (p = .767) for exchange rate and (p= .086) for interest rates at 95 percent confidence interval (? =0.05) as perceived by industry top executives. Further analysis revealed that multicollinearity was indicated (tolerance factor 10). The implication of the findings was that macroeconomic factors have not had an adverse effect on performance of food and beverage processing firms in Kenya. This was most probably due to the fact that most of the firms under survey were privately owned family businesses which derived their funding from family resources and were not necessarily involved imports or exports trade that would expose them to adverse interest or exchange rate fluctuations. Most manufactures in Kenya find their market internally with limited exports to the East African region. The fact that Kenya has enjoyed relative peace over the years has further contributed to a stable macroeconomic environment as confirmed by these findings. There is need for the Government to endeavour to maintain and improve on the macros for industrialization to take off. Multi-collinearity could also have introduced distortion of the findings. Key words: Inflation, interest rates, exchange rates, macroeconomic, economic performance, multicollinearity
机译：像大多数撒哈拉以南非洲国家一样，肯尼亚的工业化进程一直很缓慢，并且继续以同样缓慢的速度增长。制约增长的关键因素是旨在促进加工和增值的不良经济政策。作为一个主要的农业经济国家，该国将继续依靠农业带动的工业化，到2011年，食品和饮料加工领域将是最大的产业，占该国所有制造业增加值的21.8％。工业化的关键决定因素是政治和社会经济稳定，为本地和外国投资者提供稳定的宏观经济环境，使他们的资金投入到可以刺激经济增长的风险投资中。这项研究试图分析通货膨胀，汇率和利率等宏观经济指标对肯尼亚食品和饮料制造业的感知影响。对95家公司的高管人员进行了调查，以了解他们对所选宏观指标对其公司的经营环境和经济绩效的影响的看法。在目标公司中，有32家给出了33.7％的答复。分析表明，宏观经济因素对肯尼亚食品和饮料公司的可持续竞争优势的影响在通货膨胀，汇率（p = .767）和利率（p = .086）方面没有统计学意义（p = .142）行业高层管理人员认为，置信区间为95％（？= 0.05）。进一步的分析表明，显示了多重共线性（公差系数10）。研究结果的暗示是，宏观经济因素并未对肯尼亚食品和饮料加工企业的业绩产生不利影响。这很可能是由于以下事实：大多数接受调查的公司都是私有家族企业，这些家族企业的资金来自家族资源，并且不一定涉及进出口贸易，这会使它们承受不利的利率或汇率波动的影响。肯尼亚的大多数制造商在内部找到自己的市场，对东非地区的出口有限。这些发现证实，肯尼亚多年来享有相对和平的事实进一步促进了稳定的宏观经济环境。政府有必要努力维持和改善宏伟的工业化进程。多重共线性也可能导致发现的失真。关键词：通货膨胀，利率，汇率，宏观经济，经济绩效，多重共线性

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