Influence of Alternative Financing on the Relationship between Firm Size and Efficiency of Small and Medium Enterprises in Kenya
Jackson Njau Waweru · Kennedy M. Waweru M. Waweru · Kenneth L. Wanjau · Josphat K. Kinyanjui
International Journal of Finance & Banking Studies · 2018 · Vol. 6 / Issue 6 · 1
Publication metrics
External links open provider records or DOI searches. Provider counts are not combined. Mendeley readership measures saves, not citations.
Dimensions
Live provider badge. If unavailable, use the Dimensions link above.
Observed 21 Oct 2026, 00:21 UTC
Observed 22 Oct 2026 01:27 UTC
Observed 22 Oct 2026 01:27 UTC
OpenAlex and Mendeley observations refresh on article visits, at most once per 24 hours. Unavailable data is not zero. Google Scholar opens a DOI search.
Citations received by this article, grouped by the year of the citing work. Crossref and OpenAlex lifetime totals remain separate in Publication metrics.
2017–2026 Annual history last updated:
Citations received
OpenAlex · year of the citing work
Hover over a year or focus the chart and use arrow keys to inspect values.
2017–2026 annual-history window. 2026 is year to date. Unknown years have gaps.
View data & coverage
2026 is incomplete. Within a successfully fetched ten-year window, omitted years mean zero. Years beyond a saved observation’s window remain unknown (—). Older citations are excluded, so this chart’s sum may differ from the OpenAlex lifetime total. The date above belongs to this annual history; an unsuccessful refresh keeps the previous observation.
Abstract
<p><em>Globally, small and medium-size enterprises(SMEs) hold great economic growth potential, however their mortality rate is high, due to lack of credit. The SMEs mortality rate in Kenya is 90% by the second year. Scholarly endeavors to explore the influence of alternative finance (AF) on operational characteristics - efficiency nexus have received little attention, more so for SMEs who have unique financial needs. Although AF appears to be the preferred mode of financing and maintaining start-ups, its impact on the survival, growth and success of manufacturing SMEs is not well documented in Kenya. This study focused on establishing the influence of alternative financing on the relationship between firm-size and efficiency of SMEs in Kenya. The study used a cross-sectional research design. The target population was SMEs registered with Kenya Association of Manufacturers (KAM). The accessible population was 136 SMEs owner/managers. The study used a self-administered semi structured questionnaire to collect primary and secondary data. Data envelopment analysis was used to measure efficiency of SMEs, multiple regression modeling to analyze relationships and hierarchical moderated multiple regression analysis was used to assess the influence of the moderator. The findings revealed that firm-size positively (β = 0.214, t-value =4.983, P&lt;0.05.) influences efficiency and that alternative finance does moderate (R-Square change 11.1 %) firm size relationships with efficiency. The study recommends that owner/managers of manufacturing SMEs in Kenya should give attention to opportunities for sustainable increase in firm size to improve their efficiency.</em></p>
Authors & affiliations
Jackson Njau Waweru
Affiliation not supplied
Kennedy M. Waweru M. Waweru
Affiliation not supplied
Kenneth L. Wanjau
Affiliation not supplied
Josphat K. Kinyanjui
Affiliation not supplied
Deposited references
Supplied references, not a list of publications citing this article.
No reference list supplied.