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Open Access
Article
Publication date: 13 June 2019

Juma Bananuka, Twaha Kigongo Kaawaase, Musa Kasera and Irene Nalukenge

This paper aims to investigate the contribution of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy like Uganda…

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Abstract

Purpose

This paper aims to investigate the contribution of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy like Uganda, which is a secular state that is in the early stages of adopting Islamic banking.

Design/methodology/approach

This study uses a cross-sectional and correlational research design. Usable questionnaires were received from 258 managers of their own micro businesses. A hierarchical regression analysis was used to test the hypotheses.

Findings

Results indicate that attitude and religiosity are significant determinants of the intention to adopt Islamic banking, unlike subjective norm whose predictive power is subsumed in attitude. In the absence of attitude, subjective norm is a significant determinant of intention to adopt Islamic banking. Overall, attitude, subjective norm and religiosity explain 44 per cent of the variance in the intention to adopt Islamic banking in Uganda.

Research limitations/implications

This study is cross-sectional, excluding the monitoring of changes in behavior over time. Further, the study used evidence from owner-managed micro businesses in Uganda. It is possible that these results are only applicable to Uganda’s micro businesses.

Originality/value

Islamic banking is an emerging phenomenon on the African continent, especially in Sub-Saharan Africa, where most countries are secular states. As such, there are largely no empirical studies exploring the combined contributions of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy after the national adoption of an enabling legal framework. To the best of the researchers’ knowledge, this is the first study that carries out this task.

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 27 September 2021

Twaha Kigongo Kaawaase, Twaha Kigongo Kaawaase, Juma Bananuka, Zainabu Tumwebaze and Doreen Musimenta

This study aims to examine whether energy governance mechanisms, energy consumption, energy poverty and firm characteristics do matter for sustainable development practices.

Abstract

Purpose

This study aims to examine whether energy governance mechanisms, energy consumption, energy poverty and firm characteristics do matter for sustainable development practices.

Design/methodology/approach

The study uses a cross-sectional survey of production managers, engineers and chief finance officers of firms under the Uganda Manufacturers Association. The data analysis was mainly done using the partial least squares structural equation modeling.

Findings

The regression analysis results indicate that ownership structure, capital structure, energy governance mechanisms, energy poverty and energy consumption do matter for improved sustainable development practices. Firm age does not significantly matter for sustainable development practices.

Originality/value

This study provides initial evidence on what matters for improvement in sustainable development practices using evidence from developing African countries such as Uganda whose major focus is the attraction of foreign investors. Such countries focus on improvement in economic growth at the expense of social and environmental concerns.

Details

International Journal of Energy Sector Management, vol. 16 no. 4
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 28 August 2019

Twaha Kigongo Kaawaase, Juma Bananuka, Thomson Peter Kwizina and Jennifer Nabaweesi

The purpose of this paper is to examine the interactive effects of professionalism in the relationship between intellectual capital (IC) and performance of small and…

Abstract

Purpose

The purpose of this paper is to examine the interactive effects of professionalism in the relationship between intellectual capital (IC) and performance of small and medium audit practices (SMPs) within the context of a developing economy, Uganda.

Design/methodology/approach

Data were collected through a questionnaire survey of 77 SMPs registered with the Institute of Certified Public Accountants of Uganda through their managing partners. The authors utilized multiple regression analysis to test hypotheses using centered variables and an interaction term between IC and professionalism.

Findings

IC is a significant determinant of performance of SMPs in Uganda; while professionalism when acting alone is not significant, however, results have shown that professionalism interacts with IC to enhance performance of SMPs.

Research limitations/implications

This study, owing to the absence of publically available published financial statements of SMPs, utilizes a questionnaire to collect data on performance of SMPs which could be less objective. Further, as the study is limited to SMPs in Uganda, it is possible that the results are only applicable to Uganda’s accountancy field. In addition, the use of multiple regression is prone to problems associated with sampling error. However, the likelihood of these problems is mitigated by the interface with data and regression analysis diagnostics that were carried out.

Originality/value

This study provides initial empirical evidence on the relationship between IC, professionalism and performance of SMPs in developing economies. The study further indicates that while IC acts independently to influence firm performance, its interaction with professionalism enhances this performance.

Details

Journal of Accounting in Emerging Economies, vol. 10 no. 2
Type: Research Article
ISSN: 2042-1168

Keywords

Open Access
Article
Publication date: 3 May 2022

Twaha Kigongo Kaawaase

The purpose of the study is to examine how small and medium audit practices (SMPs) in emerging economies build and anchor on dynamic auditing capability to operate in a…

Abstract

Purpose

The purpose of the study is to examine how small and medium audit practices (SMPs) in emerging economies build and anchor on dynamic auditing capability to operate in a turbulent business environment occasioned by the Covid-19 pandemic.

Design/methodology/approach

The study adopts an exploratory qualitative methodology using qualitative data collected with the aid of an open-ended instrument. With the help of a qualitative data analysis software QSR NVivo9, data were analyzed following Gioia's methodology with a four-stage coding process that combines both a deductive and an inductive approach.

Findings

The findings of the study show that to manage operations during the Covid-19 pandemic, SMPs developed and anchored on dynamic auditing capabilities. Specifically, the findings show that this required transformation of existing operational capabilities, shiftiness, flexibility and innovativeness of the SMPs as well as leveraging networking and adaptive sub-capabilities.

Originality/value

The study produces a pioneer result of how to develop and anchor on the dynamic auditing capability by the SMP subsector of the audit industry to continue operations in a turbulent business environment the magnitude of the Covid-19 pandemic.

Open Access
Article
Publication date: 10 March 2021

Twaha Kigongo Kaawaase, Catherine Nairuba, Brendah Akankunda and Juma Bananuka

The purpose of this study is to establish the relationship between corporate governance attributes (board expertise, board independence and board role performance)…

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Abstract

Purpose

The purpose of this study is to establish the relationship between corporate governance attributes (board expertise, board independence and board role performance), internal audit quality and financial reporting quality using evidence from Uganda's financial institutions.

Design/methodology/approach

This study research design is cross sectional and correlational. The study used a questionnaire survey of Chief Finance Officers, Senior Accountants and Internal audit managers of financial institutions in Uganda. Data were analyzed with the help of Statistical Package for Social Sciences.

Findings

Results indicate that board expertise and board role performance are significantly associated with financial reporting quality. Also, internal audit quality is significantly associated with financial reporting quality. Board independence is not a significant predictor of financial reporting quality.

Originality/value

This paper provides insights of what matters for financial reporting quality in Uganda's financial reporting quality. It uses the qualitative characteristics of financial statements to measure financial reporting quality. This paper focuses mainly on the conceptual framework developed by the International Accounting Standards Board.

Details

Asian Journal of Accounting Research, vol. 6 no. 3
Type: Research Article
ISSN: 2443-4175

Keywords

Article
Publication date: 21 January 2022

Juma Bananuka, Stephen Korutaro Nkundabanyanga, Twaha Kigongo Kaawaase, Rachel Katoroogo Mindra and Isaac Newton Kayongo

The purpose of this study is to examine the extent of and impact of gender diversity and intellectual capital on compliance with Global Reporting Initiative (GRI…

Abstract

Purpose

The purpose of this study is to examine the extent of and impact of gender diversity and intellectual capital on compliance with Global Reporting Initiative (GRI) sustainability reporting standards by Uganda manufacturing companies.

Design/methodology/approach

Data were collected from manufacturing firms in Uganda using a questionnaire survey to find out their perception of compliance with the GRI standards. Data were analyzed using statistical package for social sciences, Microsoft Excel and smart partial least squares structural equation modeling (PLS–SEM).

Findings

The results indicate that on average, manufacturing firms in Uganda comply with GRI sustainability reporting standards to the extent of 59%. The results further indicate that manufacturing companies comply more with the GRI 200 (economic performance disclosures) to the extent of 63% as compared with 55% for GRI 300 (environmental performance disclosures) and 58% for GRI 400 (social performance disclosures). The results also indicate that intellectual capital has a significant impact on the GRI-based sustainability performance disclosures in Uganda. However, board gender diversity has no significant effect. In terms of the control variables, only firm size is significant, while firm age, capital structure and auditor type are not.

Originality/value

This study provides first time evidence of the extent of compliance with the GRI sustainability reporting standards using evidence from Uganda – an African developing country. This study widens the understanding of the usage of GRI standards in the preparation of sustainability reports by manufacturing firms in an emerging economy. This study also provides first-time evidence on the role of gender diversity and intellectual capital in GRI-based sustainability performance disclosures using evidence from Uganda's manufacturing sector.

Details

Journal of Accounting in Emerging Economies, vol. 12 no. 5
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 16 March 2021

Irene Nalukenge, Twaha Kigongo Kaawaase, Juma Bananuka and Peter Francis Ogwal

This study aims to (1) examine the contribution of internal audit quality, punitive measures to accountability in statutory corporations in developing countries such as…

Abstract

Purpose

This study aims to (1) examine the contribution of internal audit quality, punitive measures to accountability in statutory corporations in developing countries such as Uganda and (2) test whether internal audit quality mediates the relationship between punitive measures and accountability in Uganda's statutory corporations.

Design/methodology/approach

This study is cross-sectional and correlational. Data were collected through a questionnaire survey conducted for 82 statutory corporations. The study's unit of analysis was a statutory corporation. Chief Internal Auditors and Chief Finance Officers were the study's unit of inquiry. Data were analyzed through correlation coefficients and linear regression using Statistical Package for Social Sciences.

Findings

The results suggest that internal audit quality and punitive measures independently predict accountability. However, punitive measures do not predict accountability in the presence of internal audit quality. Results further indicate that internal audit quality mediates the relationship between punitive measures and accountability in Uganda's statutory corporations.

Originality/value

This study confirms internal audit quality (a preventive measure) as a significant predictor of accountability in statutory corporations relative to punitive measures. To achieve accountability, more emphasis thus needs to be put on preventive mechanisms than on punitive mechanisms. This study also enhances our understanding of the relationship between punitive measures, internal audit quality and accountability. In this study, we arrive at new evidence on the mediating role of internal audit quality in the relationship between punitive measures and accountability in Uganda's statutory corporations.

Details

Journal of Economic and Administrative Sciences, vol. 38 no. 3
Type: Research Article
ISSN: 1026-4116

Keywords

Open Access
Article
Publication date: 12 October 2021

Zainabu Tumwebaze, Juma Bananuka, Twaha Kigongo Kaawaase, Caroline Tirisa Bonareri and Fred Mutesasira

The purpose of this study is to examine the association between audit committee effectiveness (ACE), internal audit function (IAF) and sustainability reporting practices.

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Abstract

Purpose

The purpose of this study is to examine the association between audit committee effectiveness (ACE), internal audit function (IAF) and sustainability reporting practices.

Design/methodology/approach

Using a cross-sectional and correlational design, useable questionnaires were received from 48 financial services firms in Uganda. The data were analyzed using Statistical Package for Social Sciences.

Findings

results indicate that ACE and IAF are positively and significantly associated with sustainability reporting practices. ACE and IAF are more significantly associated with economic and social indicators than environmental sustainability indicators.

Research limitations/implications

In terms of practice, it is no longer a matter of having internal auditors and audit committees in place but rather those who are mindful of the welfare of society and the natural environment. The effectiveness of the board audit committee and a functioning internal audit can be assessed in terms of their recommendations and decisions regarding improvements in the welfare of society and the natural environment in addition to the traditionally known performance benchmarks.

Practical implications

The study focuses on only financial services firms in Uganda, and this is a small sample. Future studies may focus on larger samples to enable comparison of the results.

Originality/value

This study provides insights on the initial understanding of the association between ACE, IAF and sustainability reporting practices using evidence from a developing African country – Uganda.

Details

Asian Journal of Accounting Research, vol. 7 no. 2
Type: Research Article
ISSN: 2443-4175

Keywords

Article
Publication date: 13 September 2021

Moses Munyami Kinatta, Twaha Kigongo Kaawaase, John C. Munene, Isaac Nkote and Stephen Korutaro Nkundabanyanga

This study examines the relationship between investor cognitive bias, investor intuitive attributes and investment decision quality in commercial real estate in Uganda.

Abstract

Purpose

This study examines the relationship between investor cognitive bias, investor intuitive attributes and investment decision quality in commercial real estate in Uganda.

Design/methodology/approach

A cross-sectional research survey was used in this study, and data were collected from 200 investors of commercial real estate in Uganda using a structured questionnaire. Hierarchical regression analysis was used to test the hypotheses derived under this study.

Findings

The results indicate that investor cognitive bias and investor intuitive attributes are positive and significant determinants of investment decision quality in commercial real estate. In addition, the two components of Investor cognitive bias (framing variation and cognitive heuristics) are positive and significant determinants of investment decision quality, whereas mental accounting is a negative and significant determinant of investment decision quality. For investor intuitive attributes, confidence degree and loss aversion are positive and significant determinants of investment decision quality, whereas herding behavior is a negative and significant determinant of investment decision quality in commercial real estate in Uganda.

Practical implications

For practitioners in commercial real estate sector should emphasize independent evaluation of investment opportunities (framing variation), simplify information regarding investments (Cognitive heuristics), believe in own abilities (Confidence degree), be risk averse (loss aversion) and avoid making decisions based on subjective visual mind (mental accounting) and group think/herding in order to make quality investment decisions. For policymakers, the study has illuminated factors such as provision of reliable information that ought to be taken into account when promulgating policies for regulation of the commercial real estate sector. This will help investors to come up with investment decisions which are plausible.

Originality/value

Few studies have focused on investor cognitive bias and investor intuitive attributes on investment decision quality in commercial real estate. This study is the first to examine the relationship, especially in the commercial real estate sector in a developing country like Uganda.

Details

Journal of Property Investment & Finance, vol. 40 no. 2
Type: Research Article
ISSN: 1463-578X

Keywords

Open Access
Article
Publication date: 9 December 2019

Beebee Salma Sairally

404

Abstract

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 2
Type: Research Article
ISSN: 0128-1976

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