The study investigated the influence of cash flow trends on shareholders returns among manufacturing allied companies in Kenya. In the past few years, several manufacturing and allied companies have been facing critical cash flow problems to finance their operation. Most manufacturing and allied firms in Kenya have been showing serious cash flow difficulties. The target population comprised accounts and finance staff working with manufacturing and allied firms listed in the Nairobi Security Exchange. The study population constituted 227 such staff. A sample of 54 respondents was obtained from the sampling frame using stratified random sampling technique. The study found that cash flows from operating activities had marginal consequences on returns of shareholders. However, it was established that cash flows from both investing (t =3.849; p < 0.05) and financing (t=6.821; p < 0.05) activities significantly influenced shareholders¿ returns. In general, cash flow trends were found to be important in relation to shareholders returns among listed manufacturing and allied firms in Kenya.
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