The Effects of Ownership Structure, Board Effectiveness and Managerial Discretion on Performance of Listed Companies in Kenya

THE EFFECTS OF OWNERSHIP STRUCTURE, BOARD EFFECTIVENESS AND MANAGERIAL DISCRETION ON PERFORMANCE OF LISTED COMPANIES IN KENYA

ONGORE, VINCENT OKOTH

Thesis submitted in fulfillment of the requirements for the award of the degree of Doctor of Philosophy (Ph D) in Business Administration, School of Business, University of Nairobi, Kenya.

2008.

DECLARATION

I declare that this thesis is my original work and, to the best of my knowledge, has not been submitted to any university for a degree.

ONGORE VINCENT OKOTH Date
REG. NUMBER: D80/8987/2001

This thesis has been submitted with our authority as the candidate’s appointed university supervisors.

PROF. PETER O. K’OBONYO, Ph D Date
Department of Business Administration,
School of Business, University of Nairobi,
Kenya.

MARTIN OGUTU, Ph D Date Department of Business Administration,
School of Business, University of Nairobi,
Kenya.

COPYRIGHT

All rights reserved. No part of this thesis may be used or reproduced in any form by any means, or stored in a database or retrieval system without prior written permission of the author or the University of Nairobi, except in the case of brief quotations or references universally acceptable for purposes of reviews, articles or research papers. Making copies of this thesis for any purpose other than personal use is a violation of the Kenyan and International copyright laws. For further information, please contact Ongore Vincent Okoth on the following addresses:

P.O. Box 18132, GPO 00100, Nairobi Kenya. Telephone: [phone] [phone] E-mail: [e-mail]

DEDICATION

The thesis is dedicated to my mother, Susana Sind nyar Obara, who, although widowed in her early 40’s without formal education or source of regular income, demonstrated exceptional tenacity and resilience in the face of deprivation to take me through school.

I pray to