Project Proposal.docx - ROLE OF COMMERCIAL BANKS IN...

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ROLE OF COMMERCIAL BANKS IN INNOVATIONS FOR FINANCIAL INCLUSIVITY IN KENYA BY ZACHARIAH MAGOKA OBURI RESEARCH PROPOSAL SUBMITTED IN PARTIAL FULFILLMENT OF THE MASTER OF SCIENCE IN ENTREPRENEURSHIP AND INNOVATIONS MANAGEMENT NOVEMBER 2018
DECLARATION I, the undersigned, declare that this is my original work and has not been presented to any institution or university other than the University of Nairobi for examination. Signed: _____________________Date: __________________________ ZACHARIAH MAGOKA OBURI D66/87270/2016 This research proposal has been submitted for examination with my approval as the University Supervisor. Signed: _____________________Date: __________________________ Prof. Bitange Ndemo Senior Lecturer, Department of Business Administration School of Business, University of Nairobi This research proposal has been forwarded for examination with my approval as the University Internal Moderator. Signed: _____________________Date: __________________________ This research proposal has been submitted for examination with my approval as the Head of Department Signed: _____________________Date: __________________________ Dr. Florence Muindi Lecturer, Department of Business Administration School of Business, University of Nairobi i
TABLE OF CONTENTS DECLARATION ................................................................................................................. i CHAPTER ONE: INTRODUCTION .............................................................................. 1 1.1Background of the Study ............................................................................................. 1 1.1.1Concept of Innovation .......................................................................................... 2 1.1.2Financial Inclusivity ............................................................................................. 4 1.1.3The Banking Industry in Kenya ............................................................................ 6 1.2Research Problem ........................................................................................................ 7 1.3 Research Objective ..................................................................................................... 8 1.4Value of the Study ........................................................................................................ 9 CHAPTER TWO: LITERATURE REVIEW ............................................................... 10 2.1Introduction ............................................................................................................... 10 2.2Theoretical Review .................................................................................................... 10 2.2.1Schumpeter’s Theory of Innovation ................................................................... 10 2.2.2Diffusion of Innovations Theory ........................................................................ 11 2.2.3Transaction Cost Theory ..................................................................................... 11 2.3Empirical Review ...................................................................................................... 12 CHAPTER THREE: RESEARCH METHODOLOGY .............................................. 15 3.1Research Design ........................................................................................................ 15 3.2Population .................................................................................................................. 15 3.3Data Collection .......................................................................................................... 15 3.4Data Analysis ............................................................................................................. 16 REFERENCES ................................................................................................................ 17 APPENDICES .................................................................................................................. 20 Appendix I: List of Banks .............................................................................................. 20 Appendix II: Cover Letter .............................................................................................. 22 Appendix III: Questionnaire ........................................................................................... 23
CHAPTER ONE: INTRODUCTION 1.1 Background of the Study Generally, the exclusion of a vast proportion of a population from formal financial services results in adverse social-economic consequences for countries (Schumpeter, 1951). Therefore, financial access has become a key agenda in economic policies and strategic plans of governments of many countries around the world in addition to being an important global development metric as one of the key drivers of widespread economic development. This recognizes indicators showing that over two billion people across the globe lack access to formal or semi-formal financial services, most residing in Africa, Asia, the Middle East and Latin America (Demirguc-Kunt, Klapper, Singer & Van Oudheusden, 2015). Studies show that innovation is closely linked to financial inclusivity. Innovation is seen as playing a great role in dealing with the barriers of financial inclusivity, especially the costs of providing financial services. For instance, Cull et al. (2013) observe that technological and product innovation are important in improving financial inclusivity.

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