CORPORATE GOVERNANCE AND ORGANISATIONAL PERFORMANCE OF FAITH-BASED HOSPITALS IN KENYA: MEDIATING EFFECT OF SERVICE INNOVATION
Abstract
Objective of the Study: The overall objective of this paper was to determine the mediating effect of service innovation on the relationship between corporate governance and organisational performance of Faith-Based Hospitals in Kenya.
Research Methodology: This paper used cross-sectional survey research design utilizing quantitative data from the questionnaires. The study also used a cross-sectional survey study. The units of analysis comprised the 115 Level 4 and 5 Faith-Based Hospitals in Kenya. Primary data was obtained through structured questionnaires.
Results and findings: The study findings revealed a statistically significant relationship between corporate governance and organisational performance of faith-based hospitals. A partial mediation effect of service innovation on the relationship between corporate governance and organisational performance of Faith-based Hospitals in Kenya was found.
Recommendations: To guarantee strategic direction, accountability, and moral governance practices, the study advises the organization to strengthen the capability and supervisory responsibilities of hospital boards in faith-based hospitals. The empirical data generated from study findings will be useful to the government and other sectors in formulating policies aimed at improving corporate governance and performance. To guarantee accountability and strategic direction, clearly, faith-based hospitals should define the tasks and responsibilities of the board of directors. To establish credibility and trust, faith-based hospitals should use open and honest decision-making procedures and consistent communication with stakeholders, encourage a company culture built on moral precepts and religious beliefs, and make sure that these values are reflected in every aspect of the business, build the organization's leadership capabilities to lead innovation in healthcare services and overcome obstacles. On service innovation, faith-based hospitals should embrace advances made possible by technology, such as telemedicine, electronic health records, and mobile health applications in order to improve service delivery and efficiency. Invest in strong IT systems and infrastructure that encourage creativity and help healthcare providers communicate and work together.
Keywords: Corporate Governance, Service Innovation, Organisational performance, Faith-based hospitals
References
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Guarcello, C., & de Vargas, E. R. (2020). Service innovation in healthcare: A systematic literature review. Latin American Business Review, 21(4), 353-369.
Gustafsson, A., Snyder, H., & Witell, L. (2020). Service innovation: a new conceptualization and path forward. Journal of service research, 23(2), 111-115.
Haldar, A., & Rao, S. V. D. N. (2014). Corporate governance in India. Corporate Ownership and Control, 12(1), 287-297.
Hamann, P. M., & Schiemann, F. (2021). Organizational performance as a set of four dimensions: An empirical analysis. Journal of Business Research, 127, 45-65.
Hanif, M. I., & Asgher, M. U. (2018). Service innovation and service innovation performance: A study of banking services. Pakistan Journal of Commerce and Social Sciences (PJCSS), 12(2), 670-694.
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Hernawati, E., & Surya, R. (2019). The corporate governance, supplier network and firm supply performance. Uncertain Supply Chain Management, 7(3), 529-540.
Hilton, S. K., & Arkorful, H. (2021). Remediation of the challenges of reporting corporate scandals in governance. International Journal of Ethics and Systems, 37(3), 356-369.
Iqbal, S., Nawaz, A., & Ehsan, S. (2019). Financial performance and corporate governance in microfinance: Evidence from Asia. Journal of Asian Economics, 60, 1-13.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360.
Jeong, I. & Shin, S.J. (2019). High-Performance Work Practices and Organizational Creativity during Organizational Change: A Collective Learning Perspective. Journal of Management, 45, 909-925.
Jiang, H., Luo, Y., Xia, J., Hitt, M., & Shen, J. (2023). Resource dependence theory in international business: Progress and prospects. Global Strategy Journal, 13(1), 3-57.
Joensuu-Salo, S., Kangas, E., & Mäkipelkola, J. (2021). Service innovation capability in social and health care SMEs: the impact of market orientation and technology orientation. Journal of Enterprising Culture, 29(03), 183-206.
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Karisa, J. Y., & Wainaina, L. (2020). Balanced Scorecard Perspectives and Organizational Performance: Case of Kenyatta National Hospital, Kenya. International Journal of Business Management, Entrepreneurship and Innovation, 2(3), 102-113.
Kinyua, C., & Ngari, L. (2021). Influence of Corporate Governance on Performance in Public Hospitals in Embu County, Kenya. International Journal of Current Aspects, 5(4), 33-52.
Kline, B.R. (2005). Principles and practice of structural modeling. New York-London: The Guilford Press.
Kothari, C. R., & Garg, G. (2014). Research Methodology: Methods and Techniques. New Delhi: New Age International Publishers.
Leedham-Green, K., Knight, A., & Reedy, G. B. (2021). Success and limiting factors in health service innovation: a theory-generating mixed methods evaluation of UK projects. BMJ open, 11(5), e047943.
Liang, H., & Renneboog, L. (2018). Is corporate social responsibility an agency problem?. In Research handbook of finance and sustainability (pp. 54-71). Edward Elgar Publishing.
Lin, J., & Qamruzzaman, M. (2023). The impact of environmental disclosure and the quality of financial disclosure and IT adoption on firm performance: Does corporate governance ensure sustainability?. Frontiers in Environmental Science, 11, 1002357.
Mahavarpour, N., Marvi, R., & Foroudi, P. (2023). A Brief History of Service Innovation: The evolution of past, present, and future of service innovation. Journal of business research, 160, 113795.
Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41-60.
Martín-Rios, C., & Ciobanu, T. (2019). Hospitality innovation strategies: An analysis of success factors and challenges. Tourism management, 70, 218-229.
Millar, C., Lockett, M., & Ladd, T. (2018). Disruption: Technology, innovation and society. Technological Forecasting and Social Change, 129(4), 254-260.
Morteruel, M., Bacigalupe, A., & Moreno, A. (2021). Towards good governance for health: incorporating the diversity of perceptions around urban health. Gaceta Sanitaria, xx. https://doi.org/10.1016/j.gaceta.2020.11.003.
Mugenda, O.M. & Mugenda, A. G. (2003). Research methods, qualitative and quantitative Approach. Nairobi: Acts press.
Muthengi, F. K., & Ragui, M. (2023). Corporate Governance and Organizational Performance of Referral Hospitals in Kenya: A Case of Kenyatta National Hospital. International Journal of Business Management, Entrepreneurship and Innovation, 5 (2), 1-12
Nadeesha, D. D. (2019). An empirical study on corporate governance structure and performance of Sri Lankan listed financial services companies. International Journal of Scientific and Research Publications, 9(6), 73-82.
Oduor, J., & Kebba, J. (2019). Financial sector regulation and governance in Africa. In extending financial inclusion in Africa (pp. 137-163). Academic Press.
Omran, M., Khallaf, A., Gleason, K., & Tahat, Y. (2021). Non-financial performance measures disclosure, quality strategy, and organizational financial performance: a mediating model. Total Quality Management & Business Excellence, 32(5-6), 652-675.
Palaniappan, G. (2017). Board characteristics relating to firms performance: A study on manufacturing firms in India. Journal of Commerce & Accounting Research, 6(1), 26-36.
Patten M. L, & Newhart M. (2018). Understanding research methods: an overview of the essentials, 10th edn. Taylor & Francis, New York.
Pfeffer, J., & Salancik, G.R. (1978). The external control of organizations: A resource dependence perspective. New York: Harper & Row.
Samuelsson, P. (2021). Framing service innovation in healthcare (Doctoral dissertation, Karlstads Universitet).
Samuelsson, P. (2023). The effects of innovation types and customer participation on organizational performance in complex services. European Journal of Marketing, 57(13), 27-55.
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Published
2024-09-17
How to Cite
Kimote, J., Wambugu, A., & Chemutai, P. (2024). CORPORATE GOVERNANCE AND ORGANISATIONAL PERFORMANCE OF FAITH-BASED HOSPITALS IN KENYA: MEDIATING EFFECT OF SERVICE INNOVATION. African Journal of Emerging Issues, 6(14), 21 - 47. Retrieved from https://ajoeijournals.org/sys/index.php/ajoei/article/view/664
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