Corporate Boards Demographic Characteristics and Strategic Change in Kenya

Daniel Kipkirong Tarus (PhD) Department of Accounting & Finance, Moi University, P.o Box 3900, Eldoret Cell-phone: 0721437531; 0738040408 Email: kdtarus@yahoo.com; kdtarus@gmail.com Academic Qualification  PhD in Business Management, Moi University in collaboration with Oklahoma State University, 2011 Specialization: Finance Thesis title: “Corporate Boards Demographic Characteristics and Strategic Change in Kenya”    MBA in Finance, Allahabad University, 1999 Master of Philosophy in Entrepreneurship, Moi University (ongoing) Bachelor of Commerce in Accounting, Allahabad University, 1997 Professional Qualification  Passed CPA Examination in December, 2003  Passed CPS Examination in December, 2005  Currently pursuing ACCA Examinations ongoing and due to complete in June, 2012 Work Experience 2009 to Date Senior Lecturer, Department of Accounting and Finance, School of Business and Economics, Moi University 2006 to 2009 Lecturer, Department of Accounting and Finance, School of Business and Economics, Moi University 2002-2006 Tutorial Fellow, Department of Accounting and Finance, School of Business and Economics, Moi University 2000-2002 Part- Time Lecturer, Department of Accounting and Finance, School of Business and Economics, Moi University 2010- To date Part-time Lecturer, Jomo Kenyatta University of Agriculture & Technology-JKUAT 2000-2005 Lecturer, Kenya Institute of Management (KIM), Eldoret Branch Teaching Experience Undergraduate Programme BBM 201: Financial Accounting BBM 301: Advanced Financial Accounting BBM 311: Banking Theory and Practice BBM 400: Taxation Theory and Practice BBM 401: Financial Management, BBM 403: Advanced Financial Accounting 11 BBM 470: Financial Management for SMEs BBM 473: Business Counseling and Consultancy FLB 305: Banking Law Masters Programme MBA 800: Financial Accounting MBM 801: Financial Management MBA 815: Corporate Finance MBA 815: Finance Seminar MBA 881: Entrepreneurship Concepts and Strategies MBA 886: Micro Enterprise Financing PhD Programme (Moi University)  DBM 910 Corporate Leadership  DBM 920 Theory of Finance  DBM 921 Investment Analysis and Models  DBM 916 Research Proposal PhD Programme (Jomo Kenyatta University)  BDAF 4110 Theory of Finance  BDAF 4111 Financial Markets and Intermediaries Student Masters Thesis Supervision Factors Influencing Corporate Social Responsibility Disclosures by Kenyan Firms (By Benjamin Musina Oduori, 2011) Factors affecting Deposit Taking SACCOs in North Rift Region (By Nicholas Chepkiyeng, 2011) The Impact of Retirement Benefits Act (RBA) on Investment Returns of Pension Schemes in Kenya (By Lucy Jepchoge Rono, 2010) The Impact of Microfinance Institutions on Poverty Reduction in Selected Households in Nairobi, Kenya (By Amos Mwangi, 2009) Determinants of the Choice of Credit Source among Members of Savings and Credit Cooperative Societies in Kitale Town (By Stephen Silvester Odote, 2007) Impediments to Efficient Utilization of Constituency Development Fund: A Case Study of Tinderet Constituency, Nandi South District, Kenya (By Lydia Muriuki, 2006) An Analysis of the Factors Influencing Access to Agricultural Finance Corporation’s Loans by Small holder Horticultural Farmers in Uasin Gishu District (By Hellen Chemeli Mutai, 2005) A Survey of Front Office Savings Activities (FOSA) on Financial Intermediation: A Case Study of the Co-operative Movement in Kisumu District, Kenya (By Joseph Omulio Okal, 2004) Determinants of Loan-Performance in Commercial Banks in Eldoret, Kenya (By Archengelo M Mbabu, 2004) 10 The Impact of HIV/AIDS on Healthcare Financing in Kenya; A Case Study of Uasin Gishu Memorial Hospital, Eldoret (By Some Faraj, 2004) 11 The Effect of Marketing Information Seeking Behavior on Performance of Small Scale Enterprises: A Survey of Selected Firms in Kitale Municipality (By Robert I Otuya, 2003) University Responsibilities: Undergraduate Programme Coordinator January 2010- Date In charge of coordinating undergraduate programme in the School of Business and Economics (Bachelor of Business Management) with a student population of 5,000 spread across several campuses and satellite colleges Some of my responsibilities include:  Chairing the admission committee charged with admitting students in the School  Providing teaching resources and supervising the preparation of teaching timetable  Allocation of teaching resources such as facilitators, and Labs  Compiling and processing exams and results  Budgeting and processing payments for the School of Business and Economics Post-graduate Programme Coordinator July 2007- January 2010 I was in charge of coordinating two Masters programmes: Masters of Business Administration (MBA, Eldoret), and Masters of Business Management (MBM) I was charged with the following responsibilities:  Facilitating teaching resources such as assigning teaching load to lecturers and ensuring effective teaching  Preparing budgets and processing payments  Organizing for guest lecturers and Workshops and seminars  Processing students exams and results  Allocating students to supervisors and making follow ups for student progress and reporting the same to School graduate board Assistant Post-graduate programme Coordinator November 2002- July 2007 I was in charge of assisting the coordinator in managing post graduate programmes Member, Post-graduate Committee July, 2007- to date     Short-listing of post-graduate applicants Approving post-graduate results Approving post-graduate supervisors and examiners Examining thesis and oral presentation for post-graduate students Member, Editorial Board: African Journal of Business and Economics July, 2006 – December, 2010 As a member of this board, my work was to review articles for publication in the journal During my tenure I reviewed more than 15 papers Other Responsibilities March to 23rd March 2012, Acting Dean, School of Business and Economics, Moi University January 9th to 20th January 2012, Acting Dean, School of Business and Economics, Moi University November 1st to 8th November 2011, Acting Dean, School of Business and Economics, Moi University October 4th to 12th October 2011, Acting Dean, School of Business and Economics, Moi University April 21st to 28th April 2011, Acting Dean, School of Business and Economics, Moi University Member of School of Business & Economics Curriculum Development: July 2007- to Date As a member of this committee, I have participated in the review of the undergraduate and post graduate curriculum to meet the demands of the market Member of School of Business & Economics Management Committee This is the management organ of the School charged with the responsibility of reviewing School progress reports, approving examinations, approving budgets, short-listing senior staff for recruitment, and making decisions on behalf of the School Member of School of Business & Economics Linkages and collaboration Committee Through this committee, the School has secured critical collaboration with other universities as follows:  Moi University and Oklahoma State University collaboration This collaboration commenced in 2007 and focuses mainly on PhD staff development and research, wherein, Professors from Oklahoma State University visit to teach some courses to PhD students and students travel to Oklahoma State University to develop their research proposals This has seen Moi University graduate PhD in technical areas and to date PhD’s have successfully graduated and more than 10 staff members are underway Similarly, research projects are on going  Moi University and Koffi Annan Business school, Utrech, The Netherlands This collaboration started in 2008 and is meant for undergraduate students Students from Kenya travel to Koffi Annan Business School for two semesters to study courses in entrepreneurship, and students from Koffi Annan come to Moi University for two semesters Similarly, there is exchange of lectures from Koffi Annan teching at Moi University and Moi University lecturers teaching at Koffi Anna Business School This has enhanced the quality of our programmes by incorporating cross country studies at undergraduate level Director, Moi University Co-operative Society (MUSCO) March 2011- to Date  Secretary to the Audit Committee  A member to the Education Committee High School Management Boards  Chairman, Kilibwoni High School from 2006 to date and has seen the school record remarkable improvement in performance and enrollment  Board member, Terige Secondary School from 2005 to date and serving as a member of Executive Board and chairman, Finance and Planning Publications Journals Cheruiyot, Tk K., and Tarus, D K (2012) Paradox of Community Reactions to Corporate Social Responsibility and Irresponsibility in Kenyan Hotels, International Journal of Research in Commerce, Economics and Management (Accepted) Tarus, D K (2012), Board Demographic Characteristics and Strategic Change: The Moderating Role of Firm Performance, Corporate Governance (In Review) Kemboi, J K and Tarus, D K (2012), Macroeconomic Determinants of Securities Market Development in Emerging Markets: Evidence from Kenya, International Journal of Accounting and Finance, (Accepted) Tarus, D K., Yonas, B., and Mutwol, M (2012) Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study Business Review.(Accepted) Tarus, D K., Rabach, N., and Bonuke, R N (2012) Antecedents of Customer Loyalty in the Mobile Telecommunication Sector in Kenya International Journal of Research in Commerce, Economics and Management.(Accepted) Oduori, B M., and Tarus, D K (2012) Factors Influencing Corporate Social Responsibility Disclosures by Kenyan Firms, Corporate Social Responsibility and Environmental Management.(In Review) Nganga, S I., Kitainge, K M., and Tarus, D K (2010) Competency, Experience, and Industrial Exposure of Faculty Members in Public Universities and Collaborating Colleges in Kenya A Journal of KIM School of Management, Vol 1, 133-146 Koros, L C., Boit, J M., Tarus, D K., and Chepkwony, P K (2009) An Assessment of Factors Affecting Access to Management Positions: A Survey of Litein and Tenwek Hospitals, Western Kenya Journal of Agriculture, Pure and Applied science and Technology, Vol 4, 38-43 ISSN 2073-8749 Mutai, H., Cheruiyot, T, K., and Tarus, D K (2007) An Analysis of the Factors Influencing Access to Agricultural Finance by Smallholder Horticultural Farmers in Uasin Gishu District, Kenya African Journal of Business and Economics, Vol 2, No 170-186 ISSN 1990-9217 10 Tarus, D K., Nganga, S I., and Omboto, P I (2007) Liberalization and Technology Transfer Dilemma in Kenya’s Industrial Development: The Case of Small and Micro Enterprise Sector African Journal of Business and Economics, Vol 2, No.1 158-169 ISSN 1990-9217 11 Tarus, D K., Tarno, E M., and Lagat, C K (2006) The Role of Micro-Finance Institutions in the Growth and Development of SMEs in Kenya African Journal of Business and Economics, Vo 1, No 18 – 26 ISSN 1990-9217 12 Bitok, J K., Tarus, D.K., and Tenai, J K (2006) The Impact of Dividend Policy on the Shareholders Wealth, African Journal of Business and Economics, Vol 1, 122 – 136 ISSN 1990-9217 13 Tarus, D K., Ekai, R.T and Bitok, J K (2006) A Critical Analysis of Factors Affecting the Development of Emerging Stock Markets; A Case Study of Nairobi Stock Exchange, Kenya African Journal of Business and Economics, Vol 1, No – 13 ISSN 1990-9217 14 Lagat, C.K and Tarus, D.K “The Marketing Orientations Small Scale Firms in Kenya, A Case of the Small Firms in Western Kenya” The 5th Association of Third World Studies (ATWS) Conference, 12 – 14th September 2004, UEA – Baraton, Kenya ATWS Journal Publications in International Conference Proceedings Tarus, D K., Chekol, Y B., and Mutwol, M (2012), “Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study.” 2nd Annual International Conference in Accounting and Finance (AF), Global Science and Technology Forum, pp 143-148 Singapore ISSN: 2251-1997 Bitok, J K., Tenai, J.K., and Tarus, D.K (2009), “Factors Influencing the Growth and Development of Capital Markets in a Developing Economy: A Case Study of Nairobi Stock Exchange in Kenya.” The Academy of Business and Public Policy, pp 21-33 Illinois USA ISSN: 1948-2272 Books Total Quality Management; Theory, Concepts and Practice, Macmillan Publishers, 2009 ISBN 978 9966 34 344 284 Pages The text book is of benefit to practicing managers and students at both undergraduate, post graduate and professional examinations Research Perspectives in Business, GABA Publications, 2012 (Inprint) Book Review Review of “CHINDIA: How China and India are Revolutionizing Global Business”, Edited by Pete Engardio, McGraw-Hill, 2007; in African Journal of Business and Economics, Vol No pp 176179 (Book Review) ISSN 1990-9217 International Conferences Presentations and Workshops Tarus, D K., Chekol, Y B., and Mutwol, M Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study 2nd Annual International Conference in Accounting and Finance (AF) held on 21st -22nd May 2012 in Singapore Oduori, B M and Tarus, D K Factors Influencing Corporate Social Responsibility Disclosures by Kenyan Firms The 7th Annual International Conference Moi University 7th September– 9th September 2011, Eldoret, Kenya Bitock, J K., Tenai, J K., and Tarus, D K “Factors Influencing the Growth and Development of Capital Market in a Developing Economy; A Case Study of Nairobi Stock exchange in Kenya” The International Conference on Business and Public Policy; Northern held on 28th2nd October, 2009 at Illinois University, Rockford, USA Nganga, S I., Kitainge, K M., and Tarus, D K “Competence, Experience and Industrial Exposure of Faculty Members in Public Universities and Collaborating Colleges in Kenya” The 1st KIM International Conference on Management held on 3rd- 5th June, 2009 at Kenya International Conference Centre (KICC), Nairobi, Kenya Tarus, D K., Ondiek, A., and Egessa, R “Corporate Governance and Controls in Organizations” The 5th Annual International Conference, Moi University, 4th- 8th August, 2009 Kitainge, K M., Tarus, D K., Nganga, S I., and Kemboi, A “Learning Company for Sustainable Competitiveness” The 5th Annual International Conference, Moi University, 4th8th August, 2009 Rono, L J., Tarus, D K., Bitok, J K., and Simiyu, A K “The Impact of Retirement Benefits Act (RBA) on Investment Returns of Pension Schemes in Kenya” The 5th Annual International Conference, Moi University, 4th- 8th August, 2009 Nganga, S I., Tarus, D K., and Lagat, C.K “Small and Medium size Manufacturing Enterprises: Work Ethics and Social Responsibility, The Case of Jua Kali Enterprises in Eldoret Municipality.” The 7th Annual Conference of BEN-Africa held on 1st-3rd August 2007 at Gion Hotel, Addis Ababa, Ethiopia Nganga, S.I., Tarus, D K., and Omboto, P.I “Liberalization and Technology Dilemma in African Sustainable Industrial Development: The Case of Jua Kali Sector in Kenya.” The 7th Association of Third World Studies Conference 16th-18th May 2007 held at Catholic University, Kenya 10 Nganga, S I., Kitainge, K M., Tarus, D K., Kiarie, J M and Omboto, P.I “Small Manufacturing Enterprises Role in Sustainable Industrial Development: Challenges and Prospects” The 12th Annual International management Conference, Makerere University Business School, 21st-24th November 2006, Kampala, Uganda 11 Tarus, D K., Nganga, S I., Kitenge, K M and Basweti, D “Paucity of Medium Size Manufacturing Enterprises in Kenya; Challenges and Development Strategies in Industrial Development” The 2nd Annual International Conference Moi University 29th – 2nd September 2006 12 Tarus, D K Lagat, C K, Bitok, J K., and Tenai, J K., “Small Firms Social Responsibility; a Case of Western Kenya” The 2nd Annual International Conference Moi University 29th – 2nd September 2006, Eldoret, Kenya 13 Some, F., Kosgei, D K., Tarus, D K “The Impact of HIV/AIDS on Healthcare Financing in Kenya; A Case Study of Uasin Gishu Memorial Hospital, Eldoret” The 2nd Annual International Conference Moi University 29th August– 2nd September 2006, Eldoret, Kenya 14 Bitok, J K., and Tarus, D K, “The Level and Form of Corporate Dividend Payout ration to Stockholders; Theory and Evidence” The 2nd Annual International Conference Moi University 29th August – 2nd September 2006, Eldoret, Kenya 15 Hellen, M., Cheruiyot, T K., and Tarus, D K., “An Analysis of the Factors Influencing Access to Horticultural Finance by Small Holder Horticultural Farmers in Uasin Gishu District, Kenya” The 2nd Annual International Conference Moi University 29 th – 2nd September 2006, Eldoret, Kenya 10 16 Achar, G O and Tarus, D K “Policy Initiatives for SMEs in Kenya; A Way Forward or Repetition of Old Rhetoric?” The 2nd Annual International Conference Moi University 29th – 2nd September 2006, Eldoret, Kenya 17 Nganga, S I., Kiarie, J N., Tarus, D K and Rono, P K., “Innovation and Sustainable Technological Development: The Case of Jua Kali and the Traditional Folding Chair” The 9th International Conference on African Entrepreneurship and Small Business Development (IAESB), 14th and 15th September, 2006, Whitesands Hotel, Dar Es Salaam, Tanzania 18 Tarus, D K and Lagat, C K “An Analysis of ethical Practices of the Small Business in Kenya.” The 6th Annual Conference of Business Ethics Network Africa (Ben-Africa), 26th – 28th August 2006, The University of Stellenbosch Business School, Bellville Park Campus, Cape Town, South Africa 19 Tarus, D K and Lagat, C K “Small Firms Social Responsibility: A Survey of Western Kenya” 1st South African Corporate Citizenship Symposium 20th – 22nd July 2005 UNISA’ Jourhannesburg, South Africa 20 Lagat, C K and Tarus, D K “The Marketing Orientations Small Scale Firms in Kenya, A Case of the Small Firms in Western Kenya” The 5th Association of Third World Studies (ATWS) Conference, 12 – 14th September 2004, UEA – Baraton, Kenya 21 Tarus, D K and Lagat C K., “The Role of Training on the Development and Sustainability on Small Scale Enterprises in Eldoret Municipality” The Biennial Conference of WAITRO (World Association of Industrial and Technological Research Organization), th – 11th September 2004 Nairobi, Kenya 22 Lagat, C K Tarus, D K and Wekesa, E W “The Management of Telecommunication Firms Social Responsibility in Nyanza, Kenya.” The 4th Annual Business Ethics Network Africa (BEN-Africa) Conference, 1st – 3rd September 2004, Stone Town, Zanzibar 23 Lagat, C K and Tarus, D K “The Impact of Access to Information of the Management of HIV/AIDS, A Survey of Secondary Schools in Eldoret Municipality.” The 4th Annual Business Ethics Network Africa (BEN-Africa) Conference, 1st – 3rd September 2004, Stone Town, Zanzibar 11 24 Tarus, D K and Lagat, C K., “The Impact of Training on the Development of SME; A Case of Small Scale Enterprises in Eldoret Town Kenya.” The 4th International Conference on Entrepreneurship (CEED), 12 – 15th May 2004, USIU, Nairobi, Kenya 25 Wasike, E R., Lwayo, M K., Tarus, D K., and Kosgei, D K., “Characteristics of Small Scale Textile Processing Entrepreneurs in Eldoret Town, Kenya.” The 4th International Conference on Entrepreneurship (CEED), 12 – 15th May, 2004, USIU, Nairobi, Kenya Conference Attendance Eastern Finance Association Conference, Forty-sixth Meeting, Miami Beach Resort & Spa, Miami Beach, Florida, USA April 14-17, 2010 Consultancies and Training  Trainer for Moi University middle level and senior management from 2011 to date Trained Heads of departments and section heads on “Decision making and Accountability” on 27th October 2011 Trained Heads of departments on “Teamwork” on 26th April 2012  A trainer of Kenya Bankers Association western Kenya since 2006 to date  Successfully prepared a Feasibility Study for Moi Holdings for purposes of investing in Seed Oil manufacturing plant in 2006 Moi University Holdings is the commercial arm of the University  Successfully prepared a comprehensive Business Plan for Cooperative College of Kenya (COK) during the period June- September 2006  A consultant of Moi University SACCO especially on training members on savings and investments as well as training the management of the SACCO from 2004 to 2010 Professional Affiliations  Affiliate member; Kenya Institute of Management (KIM)  A member of Business Ethics Network Africa (BEN-Africa) since 2004 12  A member of Eastern Finance Association, USA, since March 2010  Associate member of Global Science & Technology Forum (AMGSTF) since 18 May 2012 Awards Received  Best paper award in 2nd Annual Accounting and Finance (AF) Conference held in Singapore on 21-22 May 2012 titled “Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study.”  Decorated with Deans Award from Moi University for being the best PhD student in 2011  Decorated with Principals Gold Medal in 1997 for being the best student in Bachelor of Commerce degree  Won a price for being the best student in CPS Section 6; Company Secretarial and Practice, awarded by Gichohi & co KASNEB Examinations in December, 2005 Referees Dr Mary Kipsat Dean, School of Business and Economics, Moi University P.O BOX 3900, Eldoret Tel 0722583130 Dr Thomas Cheruiyot Head of Department, Accounting and Finance, Moi University, P.O BOX 3900, Eldoret Tel 0720484926 Dr Michael Korir Head of Department, Marketing and Management Science, Moi University, P.O BOX 3900, Eldoret Tel.0721433102 **************************************END************************************ 13 ... Management (Accepted) Tarus, D K (2012), Board Demographic Characteristics and Strategic Change: The Moderating Role of Firm Performance, Corporate Governance (In Review) Kemboi, J K and Tarus, D K (2012),... Finance, (Accepted) Tarus, D K., Yonas, B., and Mutwol, M (2012) Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study Business Review.(Accepted) Tarus, D K., Rabach,... Bitok, J K., Tarus, D.K., and Tenai, J K (2006) The Impact of Dividend Policy on the Shareholders Wealth, African Journal of Business and Economics, Vol 1, 122 – 136 ISSN 1990-9217 13 Tarus, D K.,