Effect of Credit Management On Performance of Commercial Banks in Rwanda A Case Study of Equity Bank Rwanda LTD

International Journal of Business and Management Review
Vol.4, No.4, pp.1-12, May 2016

___Published by European Centre for Research Training and Development UK (www.eajournals.org)
EFFECT OF CREDIT MANAGEMENT ON PERFORMANCE OF COMMERCIAL
BANKS IN RWANDA (A CASE STUDY OF EQUITY BANK RWANDA LTD)
Alice Kagoyire and Dr. Jaya Shukla
Jomo Kenyatta University of Agriculture and Technology, Kigali, Rwanda.
ABSTRACT: Credit management is one of the most important activities in any company and
cannot be overlooked by any economic enterprise engaged in credit irrespective of its
business nature. Sound credit management is a prerequisite for a financial institution’s
stability and continuing profitability, while deteriorating credit quality is the most frequent
cause of poor financial performance and condition. As with any financial institution, the
biggest risk in bank is lending money and not getting it back. The study sought to determine
the effect of credit management on the financial performance of commercial banks in
Rwanda. The study adopted a descriptive survey design. The target population of study
consisted of 57 employees of Equity bank in credit department. Entire population was used as
the sample giving a sample size of size of 57 employees. Purposive sampling technique was
used in sampling where the entire population was included in the study. Primary data was
collected using questionnaires which were administered to the respondents by the researcher.
Descriptive and inferential statistics were used to analyze data. The study found that client
appraisal, credit risk control and collection policy had effect on financial performance of
Equity bank. The study established that there was strong relationship between financial
performance of Equity bank and client appraisal, credit risk control and collection policy.
The study established that client appraisal, credit risk control and collection policy
significantly influence financial performance of Equity bank. Collection policy was found to
have a higher effect on financial performance and that a stringent policy is more effective in
debt recovery than a lenient policy. The study recommends that Equity bank should enhance
their collection policy by adapting a more stringent policy to a lenient policy for effective
debt recovery.
ABSTRACT: Credit Management, Banks, Debt Recovery, Lending, Money, Financial
Performance, Risk Control, Client Appraisal
INTRODUCTION
Credit is one of the many factors that can be used by a firm to influence demand for its
products. According to Horne and Wachowicz (1998), firms can only benefit from credit if
the profitability generated from increased sales exceeds the added costs of receivables. Myers
and Brealey (2003) define credit as a process whereby possession of goods or services is
allowed without spot payment upon a contractual agreement for later payment.
Timely identification of potential credit default is important as high default rates lead to
decreased cash flows, lower liquidity levels and financial distress. In contrast, lower credit
exposure means an optimal debtors’ level with reduced chances of bad debts and therefore
financial health. According to Scheufler (2002), in today’s business environment risk
management and improvement of cash flows are very challenging.
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ISSN: 2052-6393(Print), ISSN: 2052-6407(Online)
Vol.4, No.4, pp.1-12, May 2016
With the rise in bankruptcy rates, the probability of incurring losses has risen. Economic
pressures and business practices are forcing organizations to slow payments while on the
other hand resources for credit management are reduced despite the higher expectations.
Therefore it is a necessity for credit professionals to search for opportunities to implement
proven best practices. By upgrading your practices five common pitfalls can be avoided.
Scheufler (2002) summarizes these pitfalls as failure to recognize potential frauds,
underestimation of the contribution of current customers to bad debts, getting caught off
guard by bankruptcies, failure to take full advantage of technology, and spending too much
time and resources on credit evaluations that are not related to reduction of credit defaults.
Credit management is one of the most important activities in any company and cannot be
overlooked by any economic enterprise engaged in credit irrespective of its business nature. It
is the process to ensure that customers will pay for the products delivered or the services
rendered. Myers and Brealey (2003) describe credit management as methods and strategies
adopted by a firm to ensure that they maintain an optimal level of credit and its effective
management. It is an aspect of financial management involving credit analysis, credit rating,
credit classification and credit reporting. Nelson (2002) views credit management as simply
the means by which an entity manages its credit sales. It is a prerequisite for any entity
dealing with credit transactions since it is impossible to have a zero credit or default risk.
The higher the amount of accounts receivables and their age, the higher the finance costs
incurred to maintain them. If these receivables are not collectible on time and urgent cash
needs arise, a firm may result to borrowing and the opportunity cost is the interest expense
paid. Nzotta (2004) opined that credit management greatly influences the success or failure of
commercial banks and other financial institutions. This is because the failure of deposit banks
is influenced to a large extent by the quality of credit decisions and thus the quality of the
risky assets. He further notes that, credit management provides a leading indicator of the
quality of deposit banks credit portfolio.
A key requirement for effective credit management is the ability to intelligently and
efficiently manage customer credit lines. In order to minimize exposure to bad debt, over-
reserving and bankruptcies, companies must have greater insight into customer financial
strength, credit score history and changing payment patterns. Credit management starts with
the sale and does not stop until the full and final payment has been received. It is as important
as part of the deal as closing the sale. In fact, a sale is technically not a sale until the money
has been collected. It follows that principles of goods lending shall be concerned with
ensuring, so far as possible that the borrower will be able to make scheduled payments with
interest in full and within the required time period otherwise, the profit from an interest
earned is reduced or even wiped out by the bad debt when the customer eventually defaults.
Credit management is concerned primarily with managing debtors and financing debts. The
objectives of credit management can be stated as safe guarding the companies‟ investments
in debtors and optimizing operational cash flows. Policies and procedures must be applied for
granting credit to customers, collecting payment and limiting the risk of non-payments.
According to the business dictionary financial performance involves measuring the results of
a firm’s policies and operations in monetary terms. These results are reflected in the firms
return on investment, return on assets and value added. Stoner (2003) as cited in Turyahebya
(2013), defines financial performance as the ability to operate efficiently, profitably, survive,
grow and react to the environmental opportunities and threats. In agreement with this,
Sollenberg and Anderson (1995) assert that, performance is measured by how efficient the
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enterprise is in use of resources in achieving its objectives. Hitt et al., (1996) believes that
many firms' low performance is the result of poorly performing assets.
Commercial banks earn financial revenue from loans and other financial services in the form
of interest fees, penalties, and commissions. Financial revenue also includes income from
other financial assets, such as investment income. Bank financial activities also generate
various expenses, from general operating expenses and the cost of borrowing to provisioning
for the potential loss from defaulted loans.
Credit management is the method by which you collect and control the payments from your
customers. Myers and Brealey (2003) describe credit management as methods and strategies
adopted by a firm to ensure that they maintain an optimal level of credit and its effective
management. It is an aspect of financial management involving credit analysis, credit rating,
credit classification and credit reporting. A proper credit management will lower the capital
that is locked with the debtors, and also reduces the possibility of getting into bad debts.
According to Edwards (1993), unless a seller has built into his selling price additional costs
for late payment, or is successful in recovering those costs by way of interest charged, then
any overdue account will affect his profit. In some competitive markets, companies can be
tempted by the prospects of increased business if additional credit is given, but unless it can
be certain that additional profits from increased sales will outweigh the increased costs of
credit, or said costs can be recovered through higher prices, then the practice is fraught with
danger. Most companies can readily see losses incurred by bad debts, customers going into
liquidation, receivership or bankruptcy. The writing-off of bad debt losses visibly reduces the
Profit and Loss Account. The interest cost of late payment is less visible and can go
unnoticed as a cost effect. It is infrequently measured separately because it is mixed in with
the total bank charges for all activities. The total bank interest is also reduced by the
borrowing cost saved by paying bills late. Credit managers can measure this interest cost
separately for debtors, and the results can be seen by many as startling because the cost of
waiting for payment beyond terms is usually ten times the cost of bad debt losses. Effective
management of accounts receivables involves designing and documenting a credit policy.
Many entities face liquidity and inadequate working capital problems due to lax credit
standards and inappropriate credit policies. According to Pike and Neale (1999), a sound
credit policy is the blueprint for how the company communicates with and treats its most
valuable asset, the customers. Scheufler (2002) proposes that a credit policy creates a
common set of goals for the organization and recognizes the credit and collection department
as an important contributor to the organization’s strategies. If the credit policy is correctly
formulated, carried out and well understood at all levels of the financial institution, it allows
management to maintain proper standards of the bank loans to avoid unnecessary risks and
correctly assess the opportunities for business development
Statement of the problem

Sound credit management is a prerequisite for a financial institution’s stability and continuing
profitability, while deteriorating credit quality is the most frequent cause of poor financial
performance and condition. According to Gitman (1997), the probability of bad debts
increases as credit standards are relaxed. Firms must therefore ensure that the management of
receivables is efficient and effective .Such delays on collecting cash from debtors as they fall
due has serious financial problems, increased bad debts and affects customer relations. If
payment is made late, then profitability is eroded and if payment is not made at all, then a
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Vol.4, No.4, pp.1-12, May 2016
total loss is incurred. On that basis, it is simply good business to put credit management at the
‘front end’ by managing it strategically.
JoEtta (2007) also conduct research on bank performance and credit risk management found
that there is a significant relationship between financial institutions performance (in terms of
profitability) and credit risk management (in terms of loan performance).
Lending or credit creation seek to maximize profitable objective of bank, the rate at which
commercial banks borrow from the central bank has gone down to 7% from 7.5%. This is
expected to facilitate commercial banks to borrow cheaply so that they also lend cheaply in
an attempt to continue supporting Rwanda’s economy. The purpose of this study was to
understand the effect of credit management on commercial banks financial performance.
Objectives of the study

The general objective for this study was to establish the effect of credit management on the
financial performance of commercial banks in Rwanda
Specific Objectives
1. To determine the effect of credit appraisal on financial performance in Equity bank
2. To determine the effect of credit risk control on financial performance in Equity bank
3. To determine the effect of collection policy on financial performance in Equity bank
Research Questions
1. What is the effect of credit appraisal on financial performance in Equity bank?
2. What is the effect of credit risk control on financial performance in Equity bank?
3. What is the effect of collection policy on financial performance in Equity bank?
MATERIALS AND METHODS

Introduction
This chapter discusses the methodological approach to which was used in the study. This
includes; study design, study population, sample size and sampling technique, data collection
and analysis.
The Research Design

This study was carried out through a descriptive cross-sectional research design. Orodho
(2008) defines a research design as the scheme, outline or plan that is used to generate
answers to research problems. Creswell (2008) stated that the descriptive method of research
is to gather information about the present existing condition. The emphasis was on describing
rather than on judging or interpreting. The descriptive approach was quick and practical in
terms of the financial aspect
Target population
Target population as described by Borg and Crall (2009) is a universal set of study of all
members of real or hypothetical set of people, events or objects to which an investigator
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Vol.4, No.4, pp.1-12, May 2016
generalized the result. The target population of this study was staff from credit department of
Equity bank. The department has a total of 57 members of staff according to the human
resource manager.
Sample Size
Sample size refers to the number of units or people that are chosen from which the researcher
wish to gather information or data (Evans et al., 2000). Since the population of this study was
small (57), there was no need of determining sample size order to achieve accuracy. Instead
the entire population was considered as the sample size because it was possible to collect data
from the whole population.
Sampling Technique
Total population sampling technique was employed in this study. Total population sampling
is a type of purposive sampling technique that involves examining the entire population that
have a particular set of characteristics (Pratt et al., 1995. Since total population sampling
involves all members within the population of interest, it is possible to get deep insights into
the phenomenon of interest. Total population sampling has a wide coverage of the population
of interest reducing risk of missing potential insights from members that are not included
(Pratt et al., 1995)
Data Collection Instruments

Questionnaires: The questionnaire was used to obtain and gather information to analyze and
compare different practices of credit risk management in the bank. A questionnaire is defined
as a survey instrument intended to self-administered questions (Mannheim and Richard,
1995). The method was mainly employed in primary data collection although observation
method was used for confirmation of secondary data like annual accounts. The questionnaire
was formulated with close ended questions based on the objectives of the study.
Data collection procedure: The questionnaires were administered to the bank credit staff
through drop and pick method. This method was selected because it doesn’t inconvenience
the respondents since they could answer the questions during their free time
Data processing and Analysis: According to Hyndman (2008), data processing involves
translating the answers on a questionnaire into a form that can be manipulated to produce
statistics. This involves coding, editing, data entry, and monitoring the whole data processing
procedure. The data that was collected through questionnaires was tabulated and analyzed
using the Statistical Package for the Social Sciences (SPSS) software package. Before
processing the responses, the completed questionnaires were edited for completeness and
consistency. The data was coded to enable the responses to be grouped into various
categories. Descriptive and inferential statistics was used to analyze data. The findings were
presented using tables and percentages. Tables were used to summarize responses to facilitate
comparison.
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RESULTS AND INTERPRETATION
Client Appraisal
Table 5.1: Extent to which Equity bank use client appraisal in Credit Management
Frequency Percentage %
Great extent 24 36
Moderate extent 10 45
Low extent 19 19
Total 53 100
The study sought to determine the extent to which Equity Bank used client appraisal in Credit
Management. From the findings 36% of the respondents indicated to a great extent, 45% of
the respondents indicated to a moderate extent whereas 19 % of the respondents indicated to
a low extent, this implies that Equity bank used client appraisal in Credit Management to a
moderate extent.
Table 5.1: Level of agreement on credit appraisal
Statement SA A N D SD Mean Std. dev

Client appraisal is a viable strategy for credit 21 30 2 0 0 1.70 0.26
management
Equity bank has competent personnel for 16 33 4 0 0 1.77 0.27
carrying out client appraisal
Client appraisal considers the character of the 15 36 2 0 0 1.75 0.29
customers seeking credit facilities.
Aspects of collateral are considered while 18 32 3 0 0 1.72 0.27
appraising clients.
Failure to assess customers capacity to repay 16 35 2 0 0 1.74 0.29
results in loan defaults
SA=Strongly agree A=Agree N=Neutral D= Disagree SD=Strongly disagree
The study sought to establish the level at which respondents agreed or disagreed with the
above statements relating to client appraisal in Equity bank. From the findings majority of
respondents agreed that Client appraisal is a viable strategy for credit management as shown
by a mean of 1.70, Aspects of collateral are considered while appraising clients as shown by
a mean of 1.72. Failure to assess customer’s capacity to repay results in loan defaults as
shown by a mean of 1.74, Client appraisal considers the character of the customers seeking
credit facilities as shown by a mean of 1.75 and that the Equity bank have competent
personnel for carrying out client appraisal as shown by a mean of 1.77
Credit Risk Controls

Table 5.2: Extent to which Equity bank use credit risk control in Credit Management
Great extent 15 28
Low extent 8 15
Total 53 100
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The study sought to determine the extent to which Equity Bank used credit risk control in
Credit Management. From the findings 57 % of the respondents indicated to a great extent,
28 % of the respondents indicated to a moderate extent whereas 15 % of the respondents
indicated to a low extent, this implies that Equity Bank used credit risk control in Credit
Management to a moderate extent.
Table 5.2: Level of agreement on credit risk control in Equity bank
Statement SA A N Mean Std. dev

Imposing loan size limits is a viable strategy in credit 22 28 3 1.64 0.25
management
The use of credit checks on regular basis enhances 17 30 6 1.79 0.24
credit management
Flexible repayment periods improve loan repayment 14 37 2 1.77 0.30
Penalty for late payment enhances customers 20 32 1 1.64 0.28
commitment to loan repayment
The use of customer credit application forms 18 35 0 1.66 0.30
improves monitoring and credit management as well
Credit committees involvement in making decisions 35 15 3 1.40 0.28
regarding loans are essential in reducing
default/credit risk
Interest rates charged affect performance of loans in 38 15 0 1.28 0.31
the bank
above statement relating to credit risk control in Equity Bank. From the findings, the study
established that majority of the respondents strongly agreed that interest rates charged affect
performance of loans in the Equity Bank as shown by a mean of 1.28, Credit committees
involvement in making decisions regarding loans are essential in reducing default/credit risk
as shown by a mean 1.40 other agreed that. The use of credit checks on regular basis
enhances credit management, Penalty for late payment enhances customers’ commitment to
loan repayment as shown by a mean 1.64 in each case. The use of customer credit application
forms improves monitoring and credit management as well, as shown by a mean 1.66.
Flexible repayment periods improve loan repayment as shown by a mean 1.77, and that the
use of credit checks on regular basis enhances credit management as shown by a mean 1.79
Collection Policy
Table 5.3: Extent to which Equity Bank use collection policy in Credit Management
Great extent 18 60
Low extent 3 6
Total 53 100
The study sought to determine the extent to which Equity Bank use collection policy in
Credit Management. From the findings 60% of the respondents indicated to a great extent,
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Vol.4, No.4, pp.1-12, May 2016
34% of the respondents indicated to a moderate extent whereas 6% of the respondents
indicated to a low extent, this implies that Equity bank use collection policy in Credit
Management to a great extent.
Table 5.3: Level of agreement on collection policy of Equity bank
Statement SA A N Mean Std. dev

Available collection policies have assisted towards 12 6 6 1.89 0.27
effective credit management
Formulation of collection policies have been a 36 1 7 1.45 0.28
challenge in credit management 0
Enforcement of guarantee policies provides chances 33 1 1 1.57 0.25
for loan recovery in case of loan defaults 0 0
Staff incentives are effective in improving recovery 22 3 1 1.60 0.27
of delinquent loans 0
Regular reviews have been done on collection 15 3 3 1.77 0.28
policies to improve state of credit management. 5
A stringent policy is more effective in debt recovery 17 3 0 1.68 0.30
than a lenient policy 6
above statements relating to collection policy of Equity bank. From the findings, majority of
the respondents strongly agreed that formulation of collection policies have been a challenge
in credit management as shown by a mean of 1.45 others agreed that enforcement of
guarantee policies provided chances for loan recovery in case of loan defaults as shown by a
mean of 1.57, staff incentives are effective in improving recovery of delinquent loans as
shown by a mean of 1.60, a stringent policy is more effective in debt recovery than a lenient
policy as shown by a mean of 1.68. Regular reviews have been done on collection policies to
improve state of credit management as shown by a mean of 1.77, and available collection
policies have assisted towards effective credit management as shown by a mean of 1.89.
Regression Analysis
Table 5.4: Model Summary
Model R R square Adjusted R Square Std. Error of Estimate
I .892(a) .796 .761 .2467
a. Predictors: client appraisal, credit risk control and collection policy
Adjusted R squared is coefficient of determination which tells the variation in the dependent
variable due to changes in the independent variable, from the findings in the above table the
value of adjusted R squared was 0.761 an indication that there was variation of 76.1% on
performance of commercial banks in Rwanda due to changes in client appraisal, credit risk
control and collection policy at 95% confidence interval. This shows that 76.1% changes in
performance of commercial Banks in Rwanda could be accounted for by client appraisal,
credit risk control and collection policy. R is the correlation coefficient which shows the
relationship between the study variables, from the findings shown in the table above there
was a strong positive relationship between the study variables as shown by 0.892.
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Table 5.5: ANOVA
Model Sum of Squares df Mean Square F Sig.

I Regression 0.896 4 .224 2.213 .012
Residual 5.184 48 .108
Total 6.08 52
From the ANOVA statistics in table above, the processed data, which is the population
parameters, had a significance level of 0.012 which shows that the data is ideal for making a
conclusion on the population’s parameter as the value of significance (p-value ) is less than
5%. There is an indication that client appraisal, credit risk control and collection policy
significantly influences financial performance of Equity Bank in Rwanda. The significance
value was less than 0.05 indications that the model was statistically significant.
Table 5.6 Coefficients

Model Unstandardized Standardized
I Coefficients Coefficients t Sig.
B Std. Error Beta
I Constant .218 .141 1.608 .039
Client Appraisal .239 .165 .205 1.653 .029
Credit risk controls .392 .271 .027 1.087 0.032
Collection policy .284 .157 .413 1.852 0.012
From the data in the above table the established regression equation was
Y = 0.218 + 0.239 (Client Appraisal) + 0.392 (Credit risk controls) + 0.284 (Collection
policy)
From the above regression equation it was revealed that holding client appraisal, credit risk
control and collection policy to a constant zero, performance of commercial Banks would
be 0.218, a unit increase in client appraisal would lead to increase in performance of
commercial Banks in Rwanda by a factor of 0.239, a unit increase in credit risk control would
lead to increase in performance of commercial Banks in Rwanda by a factor of 0.392 and also
unit increase in collection policy would lead to increase in performance of commercial Banks
in Rwanda by a factor of 0.284.
The study also found that the p-values of client appraisal (0.029) Credit risk controls (0.032)
and Collection policy (0.012) were less than 0.05 an indication that the influencing of client
appraisal, Credit risk controls and Collection policy was enough to improve financial
performance of commercial Banks in Rwanda.
CONCLUSION AND RECOMMENDATIONS

Introduction
This chapter presents the summary of data findings, conclusion drawn from the findings
highlighted and recommendations made. The conclusions and recommendations drawn were
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Vol.4, No.4, pp.1-12, May 2016
focused on addressing the objective of the study. The study sought to determine the effect of
loan management on the performance of commercial banks in Rwanda.
Summary of findings
To determine the effect of client appraisal on financial performance in Equity bank:
The study revealed that commercial Banks in Rwanda use client appraisal in Credit
Management to a moderate extent. Further it established that client appraisal is a viable
strategy for credit, Aspects of collateral are considered while appraising clients, failure to
assess customer’s capacity to repay results in loan defaults, client appraisal considers the
character of the customers seeking credit facilities and that commercial Banks in Rwanda
have competent personnel for carrying out client appraisal.
To determine the effect of credit risk control on financial performance in Equity bank:
The study established that commercial Banks in Rwanda use credit risk control in Credit
Management to a moderate extent. The study further established that interest rates charged
affects performance of loans in the commercial Banks in Rwanda, Credit committees
involvement in making decisions regarding loans are essential in reducing default/credit risk,
the use of credit checks on regular basis enhances credit management, Penalty for late
payment enhances customers commitment to loan repayment, the use of customer credit
application forms improves monitoring and credit management, flexible repayment periods
improve loan repayment and finally that the use of credit checks on regular basis enhances
credit management.
To determine the effect of collection policy on financial performance in Equity bank:
The study revealed that commercial Banks in Rwanda use collection policy in Credit
Management to a great extent. Formulation of collection policies have been a challenge in
credit management, enforcement of guarantee policies provides chances for loan recovery in
case of loan defaults, Staff incentives are effective in improving recovery of delinquent loans,
a stringent policy is more effective in debt recovery than a lenient policy, regular reviews
have been done on collection policies to improve state of credit management, and finally that
available collection policies have assisted towards effective credit management.
CONCLUSION
From the findings, the study found that client appraisal; credit risk control and collection
policy had effect on financial performance of commercial banks in Rwanda. The study
established that there was strong relationship between performance of commercial Banks in
Rwanda and client appraisal, credit risk control and collection policy. The study revealed that
a unit increase in client appraisal would lead to increase in performance of commercial Banks
in Rwanda; this is an indication that there was positive association between client appraisal
and financial performance of commercial Banks in Rwanda, an increase in credit risk control
would lead to increase in performance of commercial Banks in Rwanda, which shows that
there was positive relationship between financial performance of commercial Banks in
Rwanda and credit risk control and a unit increase in collection policy would lead to increase
in performance; this is an indication that there was a positive relationship between financial
performance of commercial Banks in Rwanda and collection policy. Client appraisal, credit
risk control and collection policy significantly influence performance of commercial Banks in
Rwanda.
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Vol.4, No.4, pp.1-12, May 2016
RECOMMENDATIONS
The study recommends that commercial Banks in Rwanda should enhance their collection
policy by adapting a more stringent policy to a lenient policy for effective debt recovery. The
study also recommends that there is need for commercial Banks in Rwanda to enhance their
client appraisal techniques so as to improve their financial performance. Through client
appraisal techniques, the commercial Banks in Rwanda will be able to know credit worth
clients and thus reduce their non-performing loans. There is also need for commercial banks
in Rwanda to enhance their credit risk control this will help in decreasing default levels as
well as their non-performing loans. This will help in improving their financial performance.
Further studies should be conducted using various methods of data collections such as
interviews and focus group discussion to improve on accuracy of the results. Larger sample
size should also be used for more accurate findings
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Effect of Credit Management On Performance of Commercial Banks in Rwanda A Case Study of Equity Bank Rwanda LTD

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Effect of Credit Management On Performance of Commercial Banks in Rwanda A Case Study of Equity Bank Rwanda LTD

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International Journal of Business and Management Review

Vol.4, No.4, pp.1-12, May 2016

Statement of the problem

Objectives of the study

MATERIALS AND METHODS

The Research Design

Data Collection Instruments

Table 5.1: Level of agreement on credit appraisal

Statement SA A N D SD Mean Std. dev

Credit Risk Controls

Table 5.2: Level of agreement on credit risk control in Equity bank

Statement SA A N Mean Std. dev

Table 5.3: Level of agreement on collection policy of Equity bank

Statement SA A N Mean Std. dev

Model Sum of Squares df Mean Square F Sig.

Table 5.6 Coefficients

CONCLUSION AND RECOMMENDATIONS

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