A financial planning model for retirement, taking into account the impact of pre-retirement funding income, age and taxation
- Authors: Barnes, Andrew
- Date: 2006
- Subjects: Retirement -- South Africa Retirement income -- Planning -- South Africa Pensions -- Planning -- South Africa Finance, Personal Investments Income tax -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:895 , http://hdl.handle.net/10962/d1004532
- Description: Individuals are often not aware of the required level of contributions needed to fund a retirement savings plan. This problem is compounded by the fact that the assistance provided to these individuals by way of commercially-available retirement planning models does not take into account the effect of income tax on the level of required retirement savings contributions and recent changes in the tax legislation to the income tax payable by individuals has had a significant effect on these required levels. As a preamble to the research process, an exploratory questionnaire was administrated to a sample of individuals, which was designed to measure the level of awareness of these individuals of the contributions to a retirement savings plan needed to fund their postretirement financial needs, and of the impact of age, the level of income and income tax on their contributions. Responses to the questionnaire indicated a low level of awareness of retirement planning amongst these individuals. A retirement planning model was then designed to test the effect of earnings, age and changes in tax legislation on the level of an individual's required monthly contributions to a retirement savings plan. Independent variables of age and income were processed using the model. These same variables were then processed using the Old Mutual and Liberty Life retirement planning models and a comparison was made between the model developed in the research and these commercially developed models, to assess their usefulness and limitations. Based on the above comparison, it appeared that the Old Mutual and Liberty Life retirement models both included the effects of the individual marginal tax rates in their calculations. However, they appeared to be using marginal tax rates which were higher than those reflected in the 2006 individual income tax tables. In addition these models did not include the effect of income tax exemptions and deductions and they therefore provided more conservative estimates than the retirement planning model designed in the research. Recent tax adjustments have had the effect of greatly increasing the after-tax income of individuals and therefore it is important to include the effects of changes in tax legislation in determining the monthly contributions to a retirement savings plan.
- Full Text:
- Date Issued: 2006
- Authors: Barnes, Andrew
- Date: 2006
- Subjects: Retirement -- South Africa Retirement income -- Planning -- South Africa Pensions -- Planning -- South Africa Finance, Personal Investments Income tax -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:895 , http://hdl.handle.net/10962/d1004532
- Description: Individuals are often not aware of the required level of contributions needed to fund a retirement savings plan. This problem is compounded by the fact that the assistance provided to these individuals by way of commercially-available retirement planning models does not take into account the effect of income tax on the level of required retirement savings contributions and recent changes in the tax legislation to the income tax payable by individuals has had a significant effect on these required levels. As a preamble to the research process, an exploratory questionnaire was administrated to a sample of individuals, which was designed to measure the level of awareness of these individuals of the contributions to a retirement savings plan needed to fund their postretirement financial needs, and of the impact of age, the level of income and income tax on their contributions. Responses to the questionnaire indicated a low level of awareness of retirement planning amongst these individuals. A retirement planning model was then designed to test the effect of earnings, age and changes in tax legislation on the level of an individual's required monthly contributions to a retirement savings plan. Independent variables of age and income were processed using the model. These same variables were then processed using the Old Mutual and Liberty Life retirement planning models and a comparison was made between the model developed in the research and these commercially developed models, to assess their usefulness and limitations. Based on the above comparison, it appeared that the Old Mutual and Liberty Life retirement models both included the effects of the individual marginal tax rates in their calculations. However, they appeared to be using marginal tax rates which were higher than those reflected in the 2006 individual income tax tables. In addition these models did not include the effect of income tax exemptions and deductions and they therefore provided more conservative estimates than the retirement planning model designed in the research. Recent tax adjustments have had the effect of greatly increasing the after-tax income of individuals and therefore it is important to include the effects of changes in tax legislation in determining the monthly contributions to a retirement savings plan.
- Full Text:
- Date Issued: 2006
A framework proposal for algorithm animation systems
- Authors: Yeh, Chih Lung
- Date: 2006
- Subjects: Computer programming , Computer algorithms , Computer graphics
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:10488 , http://hdl.handle.net/10948/d1019680
- Description: The learning and analysis of algorithms and algorithm concepts are challenging to students due to the abstract and conceptual nature of algorithms. Algorithm animation is a form of technological support tool which encourages algorithm comprehension by visualising algorithms in execution. Algorithm animation can potentially be utilised to support students while learning algorithms. Despite widespread acknowledgement for the usefulness of algorithm animation in algorithm courses at tertiary institutions, no recognised framework exists upon which algorithm animation systems can be effectively modelled. This dissertation consequently focuses on the design of an extensible algorithm animation framework to support the generation of interactive algorithm animations. A literature and extant system review forms the basis for the framework design process. The result of the review is a list of requirements for a pedagogically effective algorithm animation system. The proposed framework supports the pedagogic requirements by utilising an independent layer structure to support the generation and display of algorithm animations. The effectiveness of the framework is evaluated through the implementation of a prototype algorithm animation system using sorting algorithms as a case study. This dissertation is successful in proposing a framework to support the development of algorithm animations. The prototype developed will enable the integration of algorithm animations into the Nelson Mandela Metropolitan University’s teaching model, thereby permitting the university to conduct future research relating to the usefulness of algorithm animation in algorithm courses.
- Full Text:
- Date Issued: 2006
- Authors: Yeh, Chih Lung
- Date: 2006
- Subjects: Computer programming , Computer algorithms , Computer graphics
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:10488 , http://hdl.handle.net/10948/d1019680
- Description: The learning and analysis of algorithms and algorithm concepts are challenging to students due to the abstract and conceptual nature of algorithms. Algorithm animation is a form of technological support tool which encourages algorithm comprehension by visualising algorithms in execution. Algorithm animation can potentially be utilised to support students while learning algorithms. Despite widespread acknowledgement for the usefulness of algorithm animation in algorithm courses at tertiary institutions, no recognised framework exists upon which algorithm animation systems can be effectively modelled. This dissertation consequently focuses on the design of an extensible algorithm animation framework to support the generation of interactive algorithm animations. A literature and extant system review forms the basis for the framework design process. The result of the review is a list of requirements for a pedagogically effective algorithm animation system. The proposed framework supports the pedagogic requirements by utilising an independent layer structure to support the generation and display of algorithm animations. The effectiveness of the framework is evaluated through the implementation of a prototype algorithm animation system using sorting algorithms as a case study. This dissertation is successful in proposing a framework to support the development of algorithm animations. The prototype developed will enable the integration of algorithm animations into the Nelson Mandela Metropolitan University’s teaching model, thereby permitting the university to conduct future research relating to the usefulness of algorithm animation in algorithm courses.
- Full Text:
- Date Issued: 2006
A holistic approach to consumption analysis in the popular music market
- Authors: Scheckter, Jonathan
- Date: 2006
- Subjects: Consumption (Economics) -- Moral and ethical aspects , Music trade -- South Africa , Popular music -- Economic aspects -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:981 , http://hdl.handle.net/10962/d1002715 , Consumption (Economics) -- Moral and ethical aspects , Music trade -- South Africa , Popular music -- Economic aspects -- South Africa
- Description: This thesis seeks to gain a holistic understanding of consumption issues in the popular music market, such that it needs to account for the influence of 1) technological factors, 2) institutional factors, 3) cultural factors, and 4) an ontological aspect; as these are identified to be the most prominent aspects in the literature on the market. While there is a bourgeoning literature on the market, there has been little formal attempt to link such issues in a comprehensive fashion. The methodology applied provides a critique of the literature on specific consumption theories which have apparent pertinence to the music market. Each of the sociological, psychological, and economic theories (neoclassical and radical) is found to be too generalized to provide such an understanding, in that many issues concerning the music market would need to be eschewed if these theories were to be applied in an orthodox fashion. Moreover, the theories tend to point towards each other for the possibility of a credible, holistic consumption analysis. The most useful and all-encompassing consumption theory reviewed is the systems of provision approach advanced by Fine and Leopold (1993), in that the approach aims to be sensitive to the difference between commodities in terms of the economic and social processes and structures by which they become commodities, and thus it can allow one to consider adequately the four requirements identified above for a holistic understanding of the market. This approach is then applied to the western music market with the aim of 1) testing the approach identified, and 2) making a specific comment of the market. The market is found to be characterized historically by three distinct periods, each with distinct systems of provision (i.e. each with the four factors identified above relating to each other in a certain manner). It is proposed that preference formations in the final period identified have been institutionalized to a large extent, and there is a low probability of change occurring. The systems of provision approach is argued to be beneficial in highlighting which aspects of the existing consumption theories are relevant to the market at a point in time, and to what extent. Thus the richness of the approach stems from its ability to gain a holistic understanding, and to identify theoretical discussion topics, such as those concerning political economy. The approach is then applied to the South African music market, using the same historical methodology, in conjunction with current empirical evidence from the market. Doing this allows one to test the generality of the systems of provision approach, and to attempt to make a comment on the South African market. The techniques for obtaining empirical evidence are argued to be sound, but resource constraints prevented the research from reflecting a holistic view of the market. Nonetheless, a rich perspective is provided from interviews with prominent agents in the market, and thus the chapter is argued to provide the beginning of an understanding of preference formations in the South African music market, in which little research has been conducted (Stella, 2005).
- Full Text:
- Date Issued: 2006
- Authors: Scheckter, Jonathan
- Date: 2006
- Subjects: Consumption (Economics) -- Moral and ethical aspects , Music trade -- South Africa , Popular music -- Economic aspects -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:981 , http://hdl.handle.net/10962/d1002715 , Consumption (Economics) -- Moral and ethical aspects , Music trade -- South Africa , Popular music -- Economic aspects -- South Africa
- Description: This thesis seeks to gain a holistic understanding of consumption issues in the popular music market, such that it needs to account for the influence of 1) technological factors, 2) institutional factors, 3) cultural factors, and 4) an ontological aspect; as these are identified to be the most prominent aspects in the literature on the market. While there is a bourgeoning literature on the market, there has been little formal attempt to link such issues in a comprehensive fashion. The methodology applied provides a critique of the literature on specific consumption theories which have apparent pertinence to the music market. Each of the sociological, psychological, and economic theories (neoclassical and radical) is found to be too generalized to provide such an understanding, in that many issues concerning the music market would need to be eschewed if these theories were to be applied in an orthodox fashion. Moreover, the theories tend to point towards each other for the possibility of a credible, holistic consumption analysis. The most useful and all-encompassing consumption theory reviewed is the systems of provision approach advanced by Fine and Leopold (1993), in that the approach aims to be sensitive to the difference between commodities in terms of the economic and social processes and structures by which they become commodities, and thus it can allow one to consider adequately the four requirements identified above for a holistic understanding of the market. This approach is then applied to the western music market with the aim of 1) testing the approach identified, and 2) making a specific comment of the market. The market is found to be characterized historically by three distinct periods, each with distinct systems of provision (i.e. each with the four factors identified above relating to each other in a certain manner). It is proposed that preference formations in the final period identified have been institutionalized to a large extent, and there is a low probability of change occurring. The systems of provision approach is argued to be beneficial in highlighting which aspects of the existing consumption theories are relevant to the market at a point in time, and to what extent. Thus the richness of the approach stems from its ability to gain a holistic understanding, and to identify theoretical discussion topics, such as those concerning political economy. The approach is then applied to the South African music market, using the same historical methodology, in conjunction with current empirical evidence from the market. Doing this allows one to test the generality of the systems of provision approach, and to attempt to make a comment on the South African market. The techniques for obtaining empirical evidence are argued to be sound, but resource constraints prevented the research from reflecting a holistic view of the market. Nonetheless, a rich perspective is provided from interviews with prominent agents in the market, and thus the chapter is argued to provide the beginning of an understanding of preference formations in the South African music market, in which little research has been conducted (Stella, 2005).
- Full Text:
- Date Issued: 2006
A model for the development of service agreements in the Information and Communication Technology sector
- Authors: Johnston, Robert
- Date: 2006
- Subjects: Information technology , Communication -- Technological innovations , Service industries -- Management , Service -- Level agreements
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1143 , http://hdl.handle.net/10962/d1002772 , Information technology , Communication -- Technological innovations , Service industries -- Management , Service -- Level agreements
- Description: SAs are documents that specify the business relationship between stakeholders to an outsourcing agreement. SAs specify this relationship in a legally binding manner that assists in managing expectations of the stakeholders about the service provision. According to Verma (1999), an SA is a precise statement of the expectations and obligations that exist in a business relationship between two organisation: the service provider and the client. In order for organizations to have successful outsourcing partnerships, they need well crafted methods of developing Service Agreements (SAs). Successful methods will produce a conclusive contract that will act as a working document that details the spirit of cooperation between the service provider and the service recipient. This research investigates the development of SAs in the Information and Communication Technology (ICT) sector, and proposes a model for their development. A number of models for SA development have been analysed. Models are analysed from leading researchers in the area, from software houses such as Microsoft and from international standards organisations such as the BS15000 which stipulates the ITIL framework. Eight development principles are identified and explored. An investigation into SAs and their development is conducted. A model is proposed that is composed of the development principles. The development of SAs was explored in an empirical study by means of a survey administered to industry practitioners and a series of interviews with managers in the ICT industry. The results of the study indicate varying levels of support for the development principles and limited relationship between the development principles and the success of the SA, as defined by the number of changes made to the SA after it is completed.
- Full Text:
- Date Issued: 2006
- Authors: Johnston, Robert
- Date: 2006
- Subjects: Information technology , Communication -- Technological innovations , Service industries -- Management , Service -- Level agreements
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1143 , http://hdl.handle.net/10962/d1002772 , Information technology , Communication -- Technological innovations , Service industries -- Management , Service -- Level agreements
- Description: SAs are documents that specify the business relationship between stakeholders to an outsourcing agreement. SAs specify this relationship in a legally binding manner that assists in managing expectations of the stakeholders about the service provision. According to Verma (1999), an SA is a precise statement of the expectations and obligations that exist in a business relationship between two organisation: the service provider and the client. In order for organizations to have successful outsourcing partnerships, they need well crafted methods of developing Service Agreements (SAs). Successful methods will produce a conclusive contract that will act as a working document that details the spirit of cooperation between the service provider and the service recipient. This research investigates the development of SAs in the Information and Communication Technology (ICT) sector, and proposes a model for their development. A number of models for SA development have been analysed. Models are analysed from leading researchers in the area, from software houses such as Microsoft and from international standards organisations such as the BS15000 which stipulates the ITIL framework. Eight development principles are identified and explored. An investigation into SAs and their development is conducted. A model is proposed that is composed of the development principles. The development of SAs was explored in an empirical study by means of a survey administered to industry practitioners and a series of interviews with managers in the ICT industry. The results of the study indicate varying levels of support for the development principles and limited relationship between the development principles and the success of the SA, as defined by the number of changes made to the SA after it is completed.
- Full Text:
- Date Issued: 2006
A review of the actuaries' capitalisation rate from an economic perspective
- Authors: Turner, Jason
- Date: 2006
- Subjects: Macroeconomics , Keynesian economics , Insurance -- Mathematics , South Africa -- Economic conditions -- 1961-1991 , South Africa -- Economic policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:992 , http://hdl.handle.net/10962/d1002727 , Macroeconomics , Keynesian economics , Insurance -- Mathematics , South Africa -- Economic conditions -- 1961-1991 , South Africa -- Economic policy
- Description: The purpose of this paper was to evaluate if the macroeconomic change that has occurred in the South African economy since the 1980s has been significant enough to justify a re-examination of the actuaries’ capitalisation rate, due to its formulation processes dependence on the macroeconomic situation. The need for the reexamination arises from the use of the capitalisation in the calculation of lump sum awards where even a small change in the rate can have a significant impact on the value of the final award. In order to address the issue an examination of how Keynesian expectations are formulated and an examination of the Government’s macroeconomic policy was conducted to provide the foundation. On this foundation, a trend analysis of the major groups of financial instruments, as well as the current outlooks for the South African economy, was conducted to determine if there was any indication of a significant change in the macroeconomic conditions. The results of the analysis provided a compelling case for the urgent need for the actuaries’ capitalisation rate to be recalculated to account for the changed economic situation.
- Full Text:
- Date Issued: 2006
- Authors: Turner, Jason
- Date: 2006
- Subjects: Macroeconomics , Keynesian economics , Insurance -- Mathematics , South Africa -- Economic conditions -- 1961-1991 , South Africa -- Economic policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:992 , http://hdl.handle.net/10962/d1002727 , Macroeconomics , Keynesian economics , Insurance -- Mathematics , South Africa -- Economic conditions -- 1961-1991 , South Africa -- Economic policy
- Description: The purpose of this paper was to evaluate if the macroeconomic change that has occurred in the South African economy since the 1980s has been significant enough to justify a re-examination of the actuaries’ capitalisation rate, due to its formulation processes dependence on the macroeconomic situation. The need for the reexamination arises from the use of the capitalisation in the calculation of lump sum awards where even a small change in the rate can have a significant impact on the value of the final award. In order to address the issue an examination of how Keynesian expectations are formulated and an examination of the Government’s macroeconomic policy was conducted to provide the foundation. On this foundation, a trend analysis of the major groups of financial instruments, as well as the current outlooks for the South African economy, was conducted to determine if there was any indication of a significant change in the macroeconomic conditions. The results of the analysis provided a compelling case for the urgent need for the actuaries’ capitalisation rate to be recalculated to account for the changed economic situation.
- Full Text:
- Date Issued: 2006
An evaluation of formal mentoring programmes within two South African organisations
- Authors: Shelton, Delyse Elizabeth
- Date: 2006
- Subjects: Mentoring -- South Africa , Organizational effectiveness -- Evaluation , Organizational effectiveness -- South Africa , Corporate culture -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1186 , http://hdl.handle.net/10962/d1002803 , Mentoring -- South Africa , Organizational effectiveness -- Evaluation , Organizational effectiveness -- South Africa , Corporate culture -- South Africa
- Description: The benefits of informal mentoring are numerous and organisations have recognised these benefits in terms of organisational development. There has been an attempt to harvest these benefits through the introduction of formal mentoring programmes as a tool to fast track and then ultimately retain internal capability. This research on formal mentoring programmes occurred within a qualitative paradigm and data was obtained through document analysis and interviews from five mentoring pairs in one organisation and four mentoring pairs in another. The data was then presented and analysed in terms of the models proposed in the literature. The aim of this research was to evaluate formal mentoring programmes within South African organisations based on a framework provided by the literature. It was found that the literature proposed no formal evaluation model and thus, one was developed based on models of programme evaluation and formal mentoring implementation models. On the evaluation of the two formal mentoring programmes, it was found that there are some issues raised in the literature that are pertinent to both organisations but that there were also issues that were only relevant to one of the programmes. According to the research the differences in perceived success of the mentoring programme lay in the goals of the programme relating to the broader goals and culture of the organisation. It is recommended that future research investigate the impact of organisational culture on the effectiveness of formal mentoring programmes. The research also identified a need for supportive resources although this study did not assess the appropriateness and sufficiency of the resources. Organisations also need to implement effective evaluative practices in order to implement effective changes to the programme.
- Full Text:
- Date Issued: 2006
- Authors: Shelton, Delyse Elizabeth
- Date: 2006
- Subjects: Mentoring -- South Africa , Organizational effectiveness -- Evaluation , Organizational effectiveness -- South Africa , Corporate culture -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1186 , http://hdl.handle.net/10962/d1002803 , Mentoring -- South Africa , Organizational effectiveness -- Evaluation , Organizational effectiveness -- South Africa , Corporate culture -- South Africa
- Description: The benefits of informal mentoring are numerous and organisations have recognised these benefits in terms of organisational development. There has been an attempt to harvest these benefits through the introduction of formal mentoring programmes as a tool to fast track and then ultimately retain internal capability. This research on formal mentoring programmes occurred within a qualitative paradigm and data was obtained through document analysis and interviews from five mentoring pairs in one organisation and four mentoring pairs in another. The data was then presented and analysed in terms of the models proposed in the literature. The aim of this research was to evaluate formal mentoring programmes within South African organisations based on a framework provided by the literature. It was found that the literature proposed no formal evaluation model and thus, one was developed based on models of programme evaluation and formal mentoring implementation models. On the evaluation of the two formal mentoring programmes, it was found that there are some issues raised in the literature that are pertinent to both organisations but that there were also issues that were only relevant to one of the programmes. According to the research the differences in perceived success of the mentoring programme lay in the goals of the programme relating to the broader goals and culture of the organisation. It is recommended that future research investigate the impact of organisational culture on the effectiveness of formal mentoring programmes. The research also identified a need for supportive resources although this study did not assess the appropriateness and sufficiency of the resources. Organisations also need to implement effective evaluative practices in order to implement effective changes to the programme.
- Full Text:
- Date Issued: 2006
An evaluation of the Nelson Mandela Metropole as a location to attract investment
- Authors: Nonxuba, Philile Zipho
- Date: 2006
- Subjects: Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) -- Economic conditions , Economic development -- South Africa -- Eastern Cape , Manufacturing industries -- South Africa -- Eastern Cape , Business enterprises -- South Africa -- Eastern Cape , Investments -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:973 , http://hdl.handle.net/10962/d1002707 , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) -- Economic conditions , Economic development -- South Africa -- Eastern Cape , Manufacturing industries -- South Africa -- Eastern Cape , Business enterprises -- South Africa -- Eastern Cape , Investments -- South Africa -- Eastern Cape
- Description: The Nelson Mandela Metropole is the largest contributor to the Eastern Cape Province’s economy and its share of the production of the Eastern Cape is about 41, 3 % per annum. This requires that the competitiveness of the Metropole be improved in order to enable it to meet the challenges of the Province. The objective of the GEAR policy strategy places a focus on the leading coastal industrial locations of South Africa. Furthermore, the national government has shifted the responsibility of service delivery to local governments in an effort to reinforce the integrated development planning process in municipalities. To meet those challenges, the Metropole has focused its attention on improving local resources. To enhance the performance of the manufacturing industry of the Metropole, it is necessary to ensure that the Metropole has locational attributes to attract new investment. Such attributes include creation of closely located industries. This will help the firms to engage in competition as well as engage in co-operative activities among themselves. The study employs a variety of theories to highlight the need to enhance productivity of industries in order to attract new investment. These theories include the new (endogenous) growth theory that argues that productivity growth is determined by introduction of new technologies. Such technologies accrue because ideas that contribute to their development are nonrival, and thus their creation has a fixed cost and zero marginal cost. The property of fixed cost in the creation of ideas results in the emergence of increasing returns to scale. The Porter’s Diamond framework is used in the study to take the issue of productivity growth further. Its thrust is that in particular nations some industries experience high productivity growth rates. It further argues that the locational attributes are responsible for these industries in registering high productivity growth levels. These attributes include the creation of advanced resources such as a skilled labour force. The data obtained from the survey of the research on the manufacturing industries forms part of this study. The findings of the survey reveal that although the manufacturing sector of the South African region has registered some significant success, there is still some room for improving its competitiveness. It revealed that development of the local markets through competition and cooperation among the industries would help to render these industries internationally competitive. This study concludes with some recommendations. These recommendations place emphasis on improvement of infrastructure, quality of labour force, and development of the region’s market. In order to carry out the recommendations effectively, government policy has to be repositioned so as to enhance its visibility among the stakeholders in the economy. Of importance is to ensure the promotion of policy that supports geographically concentrated businesses.
- Full Text:
- Date Issued: 2006
- Authors: Nonxuba, Philile Zipho
- Date: 2006
- Subjects: Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) -- Economic conditions , Economic development -- South Africa -- Eastern Cape , Manufacturing industries -- South Africa -- Eastern Cape , Business enterprises -- South Africa -- Eastern Cape , Investments -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:973 , http://hdl.handle.net/10962/d1002707 , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) , Nelson Mandela Metropolitan Municipality (Eastern Cape, South Africa) -- Economic conditions , Economic development -- South Africa -- Eastern Cape , Manufacturing industries -- South Africa -- Eastern Cape , Business enterprises -- South Africa -- Eastern Cape , Investments -- South Africa -- Eastern Cape
- Description: The Nelson Mandela Metropole is the largest contributor to the Eastern Cape Province’s economy and its share of the production of the Eastern Cape is about 41, 3 % per annum. This requires that the competitiveness of the Metropole be improved in order to enable it to meet the challenges of the Province. The objective of the GEAR policy strategy places a focus on the leading coastal industrial locations of South Africa. Furthermore, the national government has shifted the responsibility of service delivery to local governments in an effort to reinforce the integrated development planning process in municipalities. To meet those challenges, the Metropole has focused its attention on improving local resources. To enhance the performance of the manufacturing industry of the Metropole, it is necessary to ensure that the Metropole has locational attributes to attract new investment. Such attributes include creation of closely located industries. This will help the firms to engage in competition as well as engage in co-operative activities among themselves. The study employs a variety of theories to highlight the need to enhance productivity of industries in order to attract new investment. These theories include the new (endogenous) growth theory that argues that productivity growth is determined by introduction of new technologies. Such technologies accrue because ideas that contribute to their development are nonrival, and thus their creation has a fixed cost and zero marginal cost. The property of fixed cost in the creation of ideas results in the emergence of increasing returns to scale. The Porter’s Diamond framework is used in the study to take the issue of productivity growth further. Its thrust is that in particular nations some industries experience high productivity growth rates. It further argues that the locational attributes are responsible for these industries in registering high productivity growth levels. These attributes include the creation of advanced resources such as a skilled labour force. The data obtained from the survey of the research on the manufacturing industries forms part of this study. The findings of the survey reveal that although the manufacturing sector of the South African region has registered some significant success, there is still some room for improving its competitiveness. It revealed that development of the local markets through competition and cooperation among the industries would help to render these industries internationally competitive. This study concludes with some recommendations. These recommendations place emphasis on improvement of infrastructure, quality of labour force, and development of the region’s market. In order to carry out the recommendations effectively, government policy has to be repositioned so as to enhance its visibility among the stakeholders in the economy. Of importance is to ensure the promotion of policy that supports geographically concentrated businesses.
- Full Text:
- Date Issued: 2006
An investigation into problems facing small-to-medium sized enterprises in achieving growth in the Eastern Cape : enhancing the strategy for developing small 'growth potential' firms in the Eastern Cape
- Authors: Sha, Shafeek
- Date: 2006
- Subjects: Small business -- Management , Small business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape -- Growth , Business enterprises -- Economic aspects -- South Africa -- Eastern Cape , Economic development -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1173 , http://hdl.handle.net/10962/d1002789 , Small business -- Management , Small business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape -- Growth , Business enterprises -- Economic aspects -- South Africa -- Eastern Cape , Economic development -- South Africa -- Eastern Cape
- Description: As the world economy continues to move towards increased integration, some of the greatest opportunities for Small-to-Medium Sized Enterprises (SMEs) will derive from their ability to participate in the global marketplace. It is generally accepted that SMEs are becoming increasingly important in terms of employment, wealth creation, and the development of innovation. However, there are considerable doubts about the quality of management in this sector with policy-makers suggesting that there are particular weaknesses in innovation, a lack of financial acumen, marketing, entrepreneurial flair, practical knowledge, and human resource management. As a result, many firms do not reach their full potential and fail to grow. According to organisational life cycle models, the introductory phase is particularly important since it is generally known and accepted that there is a high mortality rate of SMEs within the first two years. Given this high failure rate, it becomes vital to research the factors/characteristics/management abilities that are required to enable the SME to survive and indeed progress to the growth phase of the organizational life cycle. This research seeks to investigate the internal and external factors that are consistent in the success of SMEs who have reached the growth phase. A significant contribution to the enhancement of the growth potential of a firm will be made through the understanding of these factors.
- Full Text:
- Date Issued: 2006
- Authors: Sha, Shafeek
- Date: 2006
- Subjects: Small business -- Management , Small business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape -- Growth , Business enterprises -- Economic aspects -- South Africa -- Eastern Cape , Economic development -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1173 , http://hdl.handle.net/10962/d1002789 , Small business -- Management , Small business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape -- Growth , Business enterprises -- Economic aspects -- South Africa -- Eastern Cape , Economic development -- South Africa -- Eastern Cape
- Description: As the world economy continues to move towards increased integration, some of the greatest opportunities for Small-to-Medium Sized Enterprises (SMEs) will derive from their ability to participate in the global marketplace. It is generally accepted that SMEs are becoming increasingly important in terms of employment, wealth creation, and the development of innovation. However, there are considerable doubts about the quality of management in this sector with policy-makers suggesting that there are particular weaknesses in innovation, a lack of financial acumen, marketing, entrepreneurial flair, practical knowledge, and human resource management. As a result, many firms do not reach their full potential and fail to grow. According to organisational life cycle models, the introductory phase is particularly important since it is generally known and accepted that there is a high mortality rate of SMEs within the first two years. Given this high failure rate, it becomes vital to research the factors/characteristics/management abilities that are required to enable the SME to survive and indeed progress to the growth phase of the organizational life cycle. This research seeks to investigate the internal and external factors that are consistent in the success of SMEs who have reached the growth phase. A significant contribution to the enhancement of the growth potential of a firm will be made through the understanding of these factors.
- Full Text:
- Date Issued: 2006
An investigation into the validity of life tables used for the calculation of personal injury damages
- Authors: Forshaw, Timothy James
- Date: 2006
- Subjects: Torts -- South Africa , Damages -- South Africa , Damages -- South Africa -- Accounting , Mortality -- Tables , Personal injuries -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1077 , http://hdl.handle.net/10962/d1008371 , Torts -- South Africa , Damages -- South Africa , Damages -- South Africa -- Accounting , Mortality -- Tables , Personal injuries -- South Africa
- Description: Currently in South Africa when an individual is injured due to the acts of another they may claim damages for the losses which they may incur. These can be claimed from a variety of institutions, such as the Road Accident Fund, Workmen's compensation or an individual's private insurance. In all the afore-mentioned cases the calculation of damages are along the same lines, whereby the damages are quantified first, and thereafter reduced to reflect future possibilities that may occur. Traditionally future losses are reduced to reflect the possibility that the claimant may die at an age prior to the loss being incurred. To account for this risk awards for future losses are reduced using standard South African mortality tables. The set of tables currently being used were calculated from the 1985 South African census, and as such encapsulate the mortality of the population at that period. When the tables were calculated no reliable statistics were available for the Black population the result is that the tables currently being used do not contain a sample of the majority of the population. The thesis first examines, in detail, the calculation methods used to arrive at the value for damages to be awarded using the current set of life tables. Thereafter an analysis is conducted looking at differences between racial groups in the country and geographic locations, in order to uncover the mortality differences between groups to confirm or disprove the proposition that the exclusion of the Black population results in lower levels of mortality being reflected in the South African 1984-1986 life tables. This is accompanied by a review of mortality trenps in South African since 1986. Following from the findings of the expected increase in mortality since 1986, alternative life tables shall be used to show what impact these would have on the calculation of damages. Due to the fact that none of the alternatives return satisfactory results, structured settlements shall be reviewed to illustrate how the shortcomings of the lump sum approach can be circumvented, and altogether avoid the problems of out dated life tables being used as a basis for damage calculations. , KMBT_363 , Adobe Acrobat 9.54 Paper Capture Plug-in
- Full Text:
- Authors: Forshaw, Timothy James
- Date: 2006
- Subjects: Torts -- South Africa , Damages -- South Africa , Damages -- South Africa -- Accounting , Mortality -- Tables , Personal injuries -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1077 , http://hdl.handle.net/10962/d1008371 , Torts -- South Africa , Damages -- South Africa , Damages -- South Africa -- Accounting , Mortality -- Tables , Personal injuries -- South Africa
- Description: Currently in South Africa when an individual is injured due to the acts of another they may claim damages for the losses which they may incur. These can be claimed from a variety of institutions, such as the Road Accident Fund, Workmen's compensation or an individual's private insurance. In all the afore-mentioned cases the calculation of damages are along the same lines, whereby the damages are quantified first, and thereafter reduced to reflect future possibilities that may occur. Traditionally future losses are reduced to reflect the possibility that the claimant may die at an age prior to the loss being incurred. To account for this risk awards for future losses are reduced using standard South African mortality tables. The set of tables currently being used were calculated from the 1985 South African census, and as such encapsulate the mortality of the population at that period. When the tables were calculated no reliable statistics were available for the Black population the result is that the tables currently being used do not contain a sample of the majority of the population. The thesis first examines, in detail, the calculation methods used to arrive at the value for damages to be awarded using the current set of life tables. Thereafter an analysis is conducted looking at differences between racial groups in the country and geographic locations, in order to uncover the mortality differences between groups to confirm or disprove the proposition that the exclusion of the Black population results in lower levels of mortality being reflected in the South African 1984-1986 life tables. This is accompanied by a review of mortality trenps in South African since 1986. Following from the findings of the expected increase in mortality since 1986, alternative life tables shall be used to show what impact these would have on the calculation of damages. Due to the fact that none of the alternatives return satisfactory results, structured settlements shall be reviewed to illustrate how the shortcomings of the lump sum approach can be circumvented, and altogether avoid the problems of out dated life tables being used as a basis for damage calculations. , KMBT_363 , Adobe Acrobat 9.54 Paper Capture Plug-in
- Full Text:
An investigation of a framework for the implementation of service management in the information and communication technology sector
- Authors: Benyon, Robert Victor
- Date: 2006
- Subjects: Support services (Management) , Service industries -- Management , Information technology -- Management , Management information systems , Communication in management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1137 , http://hdl.handle.net/10962/d1002766 , Support services (Management) , Service industries -- Management , Information technology -- Management , Management information systems , Communication in management
- Description: Service Management (SM) is an integrated, cyclical and collaborative approach to the management of service requirements and levels. It involves the definition of client expectations, the satisfying of those expectations and the perpetual refining of the business agreement (Sturm 2001). SM in the ICT sector is a comprehensive process that extends beyond the development of Service Agreements (SAs). A number of identifiable steps constitute the progressive implementation of a managed services environment, the key components of which are a readiness to provide services, the accurate elicitation, management and satisfying of client requirements and the continual improvements to the business relationship. Unfortunately, a number of SM initiatives fail. These failures can be attributed to a lack of SM understanding, the absence of a fully implemented SM strategy, poor communication and people issues. This research describes an investigation of SM implementation. A number of recognised frameworks are explored and critically analysed. The common strengths of these frameworks and the results of an exploratory pilot study are used to construct an SM implementation framework. This framework is then tested empirically by means of an online survey, and revised in the light of the results of this survey. The framework comprises two distinct phases, namely a Foundation phase and a Managed Services phase. The Foundation phase comprises 8 critical preparatory activities that take a service provider to state of readiness to provide and manage ICT services. The Managed Services phase comprises 5 key cyclical steps for the management of ICT services, including Planning, Analysis, Design, Implementation and Review.
- Full Text:
- Date Issued: 2006
- Authors: Benyon, Robert Victor
- Date: 2006
- Subjects: Support services (Management) , Service industries -- Management , Information technology -- Management , Management information systems , Communication in management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1137 , http://hdl.handle.net/10962/d1002766 , Support services (Management) , Service industries -- Management , Information technology -- Management , Management information systems , Communication in management
- Description: Service Management (SM) is an integrated, cyclical and collaborative approach to the management of service requirements and levels. It involves the definition of client expectations, the satisfying of those expectations and the perpetual refining of the business agreement (Sturm 2001). SM in the ICT sector is a comprehensive process that extends beyond the development of Service Agreements (SAs). A number of identifiable steps constitute the progressive implementation of a managed services environment, the key components of which are a readiness to provide services, the accurate elicitation, management and satisfying of client requirements and the continual improvements to the business relationship. Unfortunately, a number of SM initiatives fail. These failures can be attributed to a lack of SM understanding, the absence of a fully implemented SM strategy, poor communication and people issues. This research describes an investigation of SM implementation. A number of recognised frameworks are explored and critically analysed. The common strengths of these frameworks and the results of an exploratory pilot study are used to construct an SM implementation framework. This framework is then tested empirically by means of an online survey, and revised in the light of the results of this survey. The framework comprises two distinct phases, namely a Foundation phase and a Managed Services phase. The Foundation phase comprises 8 critical preparatory activities that take a service provider to state of readiness to provide and manage ICT services. The Managed Services phase comprises 5 key cyclical steps for the management of ICT services, including Planning, Analysis, Design, Implementation and Review.
- Full Text:
- Date Issued: 2006
Building cultural capital through value-driven leadership: a case study in an international finance company
- Authors: Ackerman, Mariana
- Date: 2006
- Subjects: Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:2919 , http://hdl.handle.net/10962/d1002428 , Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Description: Today, organizations are placed under extreme pressure to adapt to the ever-increasing changes in their environments in order to survive. Research proves that corporate culture has the ability to either blunt or aid change. Past research conducted in Z-Nam, a subsidiary of an international finance company situated in Namibia, indicated that a divided culture resulted in limitations in their functioning, including their adaptability. Pressure was placed on Z-Nam by its majority shareholder to internalise a set of core values into its daily functioning in order to build a strong adaptable culture. This objective called for values-driven leadership. The four core values identified by Head Office were integrity, respect, accountability and pushing beyond boundaries. In becoming more values-driven, values theory posits that Z-Nam will build its cultural capital and so reap the benefits of higher performance, talent retention and adaptability. In this way Z-Nam will be able to combat the weaknesses in its current culture. Leadership adaptability and the capacity to lead change were seen to distinguish cultural changes that succeed from those that do not. Principles inherent in the field of OD were also considered, as they are seen to assist in the effective management of change. The methodology involved a purposive sample being drawn that included the top leadership team and internal OD consultant. Semi-structured interviews were conducted and thematic analysis employed in analysing the resultant data with three main aims in mind. Firstly, to assess Z-Nam's top management's perception of the current set of values being lived in the organization, to establish their level of support for the desired set of values proposed by Head Office and lastly to establish whether the leadership team is ready to promote the adoption of a new set of core values. Through comparing the themes that emerged from the data with literature on OD, values, culture and change, the researcher was able to make inferences as to the leadership's readiness and capacity to successfully lead cultural change. These findings were substantiated with secondary data from previous research activities. It was found that Z-Nam was not utilising its culture as an asset and that several barriers existed to adopting and implementing the desired values. It was concluded that Z-Nam will not be able to successfully embark on cultural change until its leadership recognises the importance of culture and their personal responsibility in bringing about the desired change, adequately assimilates information from past research and comes to a consensus as to the necessary accommodations that need to be made.
- Full Text:
- Date Issued: 2006
- Authors: Ackerman, Mariana
- Date: 2006
- Subjects: Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:2919 , http://hdl.handle.net/10962/d1002428 , Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Description: Today, organizations are placed under extreme pressure to adapt to the ever-increasing changes in their environments in order to survive. Research proves that corporate culture has the ability to either blunt or aid change. Past research conducted in Z-Nam, a subsidiary of an international finance company situated in Namibia, indicated that a divided culture resulted in limitations in their functioning, including their adaptability. Pressure was placed on Z-Nam by its majority shareholder to internalise a set of core values into its daily functioning in order to build a strong adaptable culture. This objective called for values-driven leadership. The four core values identified by Head Office were integrity, respect, accountability and pushing beyond boundaries. In becoming more values-driven, values theory posits that Z-Nam will build its cultural capital and so reap the benefits of higher performance, talent retention and adaptability. In this way Z-Nam will be able to combat the weaknesses in its current culture. Leadership adaptability and the capacity to lead change were seen to distinguish cultural changes that succeed from those that do not. Principles inherent in the field of OD were also considered, as they are seen to assist in the effective management of change. The methodology involved a purposive sample being drawn that included the top leadership team and internal OD consultant. Semi-structured interviews were conducted and thematic analysis employed in analysing the resultant data with three main aims in mind. Firstly, to assess Z-Nam's top management's perception of the current set of values being lived in the organization, to establish their level of support for the desired set of values proposed by Head Office and lastly to establish whether the leadership team is ready to promote the adoption of a new set of core values. Through comparing the themes that emerged from the data with literature on OD, values, culture and change, the researcher was able to make inferences as to the leadership's readiness and capacity to successfully lead cultural change. These findings were substantiated with secondary data from previous research activities. It was found that Z-Nam was not utilising its culture as an asset and that several barriers existed to adopting and implementing the desired values. It was concluded that Z-Nam will not be able to successfully embark on cultural change until its leadership recognises the importance of culture and their personal responsibility in bringing about the desired change, adequately assimilates information from past research and comes to a consensus as to the necessary accommodations that need to be made.
- Full Text:
- Date Issued: 2006
Does primary resource-based industrialisation offer an escape from underdevelopment?
- Authors: Ali, Fatimah
- Date: 2006
- Subjects: Comparative advantage (International trade) , Exports -- Africa, West , Exports -- Mauritius , Exports -- South Africa , Foreign trade promotion -- Mauritius , International trade , Primary commodities -- Africa , Human capital -- Economic aspects -- Africa , Natural resources -- Africa , Africa -- Commerce
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1018 , http://hdl.handle.net/10962/d1002753 , Comparative advantage (International trade) , Exports -- Africa, West , Exports -- Mauritius , Exports -- South Africa , Foreign trade promotion -- Mauritius , International trade , Primary commodities -- Africa , Human capital -- Economic aspects -- Africa , Natural resources -- Africa , Africa -- Commerce
- Description: It is commonly believed about sub-Saharan Africa (SSA) that the region has a comparative advantage in primary resources as reflected by its high share of primary exports to total exports. In acknowledging the region's comparative advantage, the study tries to put the determinants from the Wood and Mayer (1998, (999) (W-M) Heckscher-Ohlin based model in the context of two relatively diversified countries (South Africa and Mauritius) and two commodity-export-dependent countries of sub-Saharan Africa (Nigeria and Cô̌̌te d'Ivoire). The study finds that the skill and land resource measures used in the W -M (1998, 1999) thesis do not explain why Nigeria, having a similar level of skill per worker ratio to South Africa, has not diversified. Further, Mauritius having relatively the highest skill per land ratio specialises in low-skill textiles and clothing, while South Africa specialises in the more human capital-intensive "other manufactures" group. The other measure, a low land per worker ratio that explains Mauritius' relatively higher share of manufacturing exports, also fails to apply to Nigeria. The thesis thus concludes that the W-M land and skill measures could only be rough proxies in determining comparative advantage in manufacturing exports. However, employing the Dutch disease hypothesis recognises the potential of land abundance as a natural resource, namely minerals in South Africa, oil in Nigeria, and cocoa in Cǒ̌te d'Ivoire. The Dutch disease is a dynamic process of structural economic and political development that will permit an understanding of why natural resource abundant countries do not have a comparative advantage in manufacturing, at least in the short to medium term. The study therefore investigates commodity dependence and the Dutch disease effects to examine whether primary resource- based industrialisation offers an escape from underdevelopment. It establishes that South Africa, a mineral resource rich country, diversified based on a broad mineral-energy-complex (MEC) reinforcing the notion that land abundant countries will first invest in capital- intensive primary resource processing. However, the thesis concludes that in Nigeria and Cǒ̌te d'Ivoire where external shocks are more predominant probably because of single commodity export reliance, the manufacturing sector lags behind more due to resource and spending effects that a natural resource boom generates in these economies.
- Full Text:
- Date Issued: 2006
- Authors: Ali, Fatimah
- Date: 2006
- Subjects: Comparative advantage (International trade) , Exports -- Africa, West , Exports -- Mauritius , Exports -- South Africa , Foreign trade promotion -- Mauritius , International trade , Primary commodities -- Africa , Human capital -- Economic aspects -- Africa , Natural resources -- Africa , Africa -- Commerce
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1018 , http://hdl.handle.net/10962/d1002753 , Comparative advantage (International trade) , Exports -- Africa, West , Exports -- Mauritius , Exports -- South Africa , Foreign trade promotion -- Mauritius , International trade , Primary commodities -- Africa , Human capital -- Economic aspects -- Africa , Natural resources -- Africa , Africa -- Commerce
- Description: It is commonly believed about sub-Saharan Africa (SSA) that the region has a comparative advantage in primary resources as reflected by its high share of primary exports to total exports. In acknowledging the region's comparative advantage, the study tries to put the determinants from the Wood and Mayer (1998, (999) (W-M) Heckscher-Ohlin based model in the context of two relatively diversified countries (South Africa and Mauritius) and two commodity-export-dependent countries of sub-Saharan Africa (Nigeria and Cô̌̌te d'Ivoire). The study finds that the skill and land resource measures used in the W -M (1998, 1999) thesis do not explain why Nigeria, having a similar level of skill per worker ratio to South Africa, has not diversified. Further, Mauritius having relatively the highest skill per land ratio specialises in low-skill textiles and clothing, while South Africa specialises in the more human capital-intensive "other manufactures" group. The other measure, a low land per worker ratio that explains Mauritius' relatively higher share of manufacturing exports, also fails to apply to Nigeria. The thesis thus concludes that the W-M land and skill measures could only be rough proxies in determining comparative advantage in manufacturing exports. However, employing the Dutch disease hypothesis recognises the potential of land abundance as a natural resource, namely minerals in South Africa, oil in Nigeria, and cocoa in Cǒ̌te d'Ivoire. The Dutch disease is a dynamic process of structural economic and political development that will permit an understanding of why natural resource abundant countries do not have a comparative advantage in manufacturing, at least in the short to medium term. The study therefore investigates commodity dependence and the Dutch disease effects to examine whether primary resource- based industrialisation offers an escape from underdevelopment. It establishes that South Africa, a mineral resource rich country, diversified based on a broad mineral-energy-complex (MEC) reinforcing the notion that land abundant countries will first invest in capital- intensive primary resource processing. However, the thesis concludes that in Nigeria and Cǒ̌te d'Ivoire where external shocks are more predominant probably because of single commodity export reliance, the manufacturing sector lags behind more due to resource and spending effects that a natural resource boom generates in these economies.
- Full Text:
- Date Issued: 2006
Financial reforms and interest rate spreads in the commercial banking sector in Kenya
- Authors: Munene, Daniel
- Date: 2006
- Subjects: Finance -- Kenya , Banks and banking -- Kenya , Economics -- Kenya , Interest rates -- Kenya , Economic development -- Kenya
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1070 , http://hdl.handle.net/10962/d1007711 , Finance -- Kenya , Banks and banking -- Kenya , Economics -- Kenya , Interest rates -- Kenya , Economic development -- Kenya
- Description: Financial reforms were a major component of structural adjustment programs deemed necessary for developing countries in the mid 1980s. These were not only meant to improve the sector, but would ultimately enhance economic growth and help in poverty alleviation. At the top of these reforms was financial liberalisation. Kenya, like many other sub-Saharan African countries, undertook financial liberalisation in 1991, one of the measures was decontrolling interest rates. With market driven interest rates in place it was assumed that there would be increased efficiency in bank lending, as well as growth in credit availability as deposits increased. A key indicator of this improved intermediation process would be a narrowing interest rates spread, that is, the margin between the deposit and lending rate. Paradoxically, however, the expected benefits of these reforms did not accrue to Kenya's banking sector. This study focuses on financial reforms and the spread of interest rates in Kenya's banking sector. Using a trend analysis, spanning the period before and after liberalisation, interest rates spread are shown to have escalated dramatically upwards after liberalisation. An analysis of three macroeconomic variables, namely, the exchange rate, inflation rate and economic growth offer little, or inconclusive evidence, that they were the main causes of the wide interest rate spread. In fact, the spread is closely linked to institutional/structural factors such as non-competitiveness in the banking sector, imprudent lending practices and poor and/or inadequate banking supervision. Policies for improving the institutional infrastructure and thus moderating the spreads are highlighted.
- Full Text:
- Date Issued: 2006
- Authors: Munene, Daniel
- Date: 2006
- Subjects: Finance -- Kenya , Banks and banking -- Kenya , Economics -- Kenya , Interest rates -- Kenya , Economic development -- Kenya
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1070 , http://hdl.handle.net/10962/d1007711 , Finance -- Kenya , Banks and banking -- Kenya , Economics -- Kenya , Interest rates -- Kenya , Economic development -- Kenya
- Description: Financial reforms were a major component of structural adjustment programs deemed necessary for developing countries in the mid 1980s. These were not only meant to improve the sector, but would ultimately enhance economic growth and help in poverty alleviation. At the top of these reforms was financial liberalisation. Kenya, like many other sub-Saharan African countries, undertook financial liberalisation in 1991, one of the measures was decontrolling interest rates. With market driven interest rates in place it was assumed that there would be increased efficiency in bank lending, as well as growth in credit availability as deposits increased. A key indicator of this improved intermediation process would be a narrowing interest rates spread, that is, the margin between the deposit and lending rate. Paradoxically, however, the expected benefits of these reforms did not accrue to Kenya's banking sector. This study focuses on financial reforms and the spread of interest rates in Kenya's banking sector. Using a trend analysis, spanning the period before and after liberalisation, interest rates spread are shown to have escalated dramatically upwards after liberalisation. An analysis of three macroeconomic variables, namely, the exchange rate, inflation rate and economic growth offer little, or inconclusive evidence, that they were the main causes of the wide interest rate spread. In fact, the spread is closely linked to institutional/structural factors such as non-competitiveness in the banking sector, imprudent lending practices and poor and/or inadequate banking supervision. Policies for improving the institutional infrastructure and thus moderating the spreads are highlighted.
- Full Text:
- Date Issued: 2006
How the internet supports the consumer decision process: the case study of McCarthy Call-a-Car
- Authors: Limbada, Suhayl
- Date: 2006
- Subjects: McCarthy Call-a Car , Automobile dealers -- South Africa , Automobile industry and trade , Internet marketing , Consumer behavior , Customer services , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1171 , http://hdl.handle.net/10962/d1002787 , McCarthy Call-a Car , Automobile dealers -- South Africa , Automobile industry and trade , Internet marketing , Consumer behavior , Customer services , Consumer satisfaction
- Description: This thesis aims to provide a better understanding of the ways in which the Internet supports the consumer decision process of potential customers in an online car retail environment. The thesis is mainly focused on how this can be done in South Africa. A case study approach was adopted in investigating the case of McCarthy Call-a-Car. Interviews were carried out with McCarthy Call-a-Car employees and documents and the Call-a-Car website, were analysed. It was revealed that Call-a-Car focuses on using the Internet to support customers in the pre-purchase phase only. The purchase and post-purchase phases are carried out offline at its dealership network and Club McCarthy respectively. The findings showed that Call-a-Car views the Internet as a marketing tool that provides convenience to customers searching for product information in the pre-purchase phase. The interviews revealed that due to Call-a-Car's strategy, as well as practical problems of selling online, the customer will still have to visit a dealership to conclude a purchase and for post-purchase support. From this research it appears that there are three main issues arising out of Call-a-Car's usage of the Internet in the customer buying process: firstly, the research revealed that instead of cutting out the middle-man, the Internet has created new types of intermediaries called "cybermediaries" and that Call-a-Car is one such intermediary. Secondly, it was revealed that trust is crucial in the online environment and that Call-a-Car builds trust through branding. Thirdly, the Internet has not affected prices online, despite theoretical estimations that the Internet would induce lower prices. The main recommendations for future research are empirical studies to investigate if the cybermediary model is unique to the car industry and whether this business model could be applied to other look and feel industries such as real estate. Future studies could also investigate the mechanics of trust-building and brand-building in the online environment and finally, studies from the customer perspective considering what Internet tools the customer would like to see online to support them during their buying decision process.
- Full Text:
- Date Issued: 2006
- Authors: Limbada, Suhayl
- Date: 2006
- Subjects: McCarthy Call-a Car , Automobile dealers -- South Africa , Automobile industry and trade , Internet marketing , Consumer behavior , Customer services , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1171 , http://hdl.handle.net/10962/d1002787 , McCarthy Call-a Car , Automobile dealers -- South Africa , Automobile industry and trade , Internet marketing , Consumer behavior , Customer services , Consumer satisfaction
- Description: This thesis aims to provide a better understanding of the ways in which the Internet supports the consumer decision process of potential customers in an online car retail environment. The thesis is mainly focused on how this can be done in South Africa. A case study approach was adopted in investigating the case of McCarthy Call-a-Car. Interviews were carried out with McCarthy Call-a-Car employees and documents and the Call-a-Car website, were analysed. It was revealed that Call-a-Car focuses on using the Internet to support customers in the pre-purchase phase only. The purchase and post-purchase phases are carried out offline at its dealership network and Club McCarthy respectively. The findings showed that Call-a-Car views the Internet as a marketing tool that provides convenience to customers searching for product information in the pre-purchase phase. The interviews revealed that due to Call-a-Car's strategy, as well as practical problems of selling online, the customer will still have to visit a dealership to conclude a purchase and for post-purchase support. From this research it appears that there are three main issues arising out of Call-a-Car's usage of the Internet in the customer buying process: firstly, the research revealed that instead of cutting out the middle-man, the Internet has created new types of intermediaries called "cybermediaries" and that Call-a-Car is one such intermediary. Secondly, it was revealed that trust is crucial in the online environment and that Call-a-Car builds trust through branding. Thirdly, the Internet has not affected prices online, despite theoretical estimations that the Internet would induce lower prices. The main recommendations for future research are empirical studies to investigate if the cybermediary model is unique to the car industry and whether this business model could be applied to other look and feel industries such as real estate. Future studies could also investigate the mechanics of trust-building and brand-building in the online environment and finally, studies from the customer perspective considering what Internet tools the customer would like to see online to support them during their buying decision process.
- Full Text:
- Date Issued: 2006
Impact of brand identity on perceived brand image of the Nelson Mandela Metropolitan University
- Authors: Han, Ying
- Date: 2006
- Subjects: Business names -- South Africa , Nelson Mandela Metropolitan University -- Name
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9265 , http://hdl.handle.net/10948/464 , Business names -- South Africa , Nelson Mandela Metropolitan University -- Name
- Description: Since 1994, South Africa has witnessed the fundamental transformation and restructuring of its Higher Education Sector. The restructuring of Higher Education Institutions in the Eastern Cape Province is manifested by inter alia the incorporation of the Port Elizabeth branch of the Vista University into the University of Port Elizabeth as a first phase and, as the final phase, the merger between the University of Port Elizabeth and the Port Elizabeth Technikon. A new, comprehensive university, the Nelson Mandela Metropolitan University (NMMU), emerged from this merger on 1 January 2005. The previous institutions each had its own unique brand identity, brand image and brand name. With reference to the newly established NMMU, the question can be raised whether the brand identity of this newly established institution impacts on its perceived brand image among all stakeholders who have an interest in the institution. Given the merger background, the purpose of this research project is twofold: firstly, to analyse the impact of independent variables (‘reputation’, ‘relevance’, ‘personality’, ‘performance’ and ‘relationship’) on brand identity (moderating variable) and the impact of brand identity on brand image (dependent variable); and secondly, to gauge the perceptions of NMMU stakeholders of the brand image of the University in terms of both expectations and actual experiences. In order to give effect to the above, a conceptual model on brand identity and brand image based on secondary sources on branding, was empirically tested. Given the purpose and nature of the research in question, a positivistic research paradigm was adopted. By means of a Likert seven-point scale, primary data was sourced from 1 092 respondents, who shared their perceptions on the expectations and actual experiences of using the NMMU brand. The statistical analysis of the data comprised six phases. Initially, the data was subjected to an exploratory factor analysis to assess the discriminant validity of (xvi) the research instrument. This was followed by an assessment of the reliability of the research instrument through an internal consistency measure (Cronbach alpha reliability coefficients). The items that remained were included in the multiple regression model to assess the impact of brand identity variables on brand identity. The next phase comprised a regression analysis of the impact of brand identity on brand image. Fifthly, to assess any differences between stakeholders’ expectations and actual experiences when using the NMMU brand, pair-wise t-tests were performed. Finally, to gauge the level of satisfaction of NMMU stakeholders when using the brand, a “gap” analysis was conducted by converting the mean scores into relative percentage ratings. The empirical findings did not fully support the conceptual model. The testing of the conceptual model revealed that the independent variable ‘relevance’ did not demonstrate sufficient discriminant validity and, as a result, no evidence of construct validity. This variable therefore had to be removed from the conceptual model before it was subjected to further empirical assessment by means of the multiple linear regression analysis. Based on this finding on ‘relevance’, NMMU marketing communication strategists could perform an in-depth investigation on the positioning of the brand. Further, it was found that the dependent variable ‘brand image’ was not a uni-dimensional construct as suggested in the conceptual model. Ideally, images (in this case, brand images of the NMMU) should feed into strategic vision, serving as a mirror in which a university can reflect on its true standing. This implies that instead of using stakeholder images as exact assessments of brand performance compared with strategic vision, images held by stakeholders of who the university is and what it stands for (e.g. personality and relevance comparisons) should become part of the strategic envisioning process. The linkage between strategic intent and brand image should be evident. The results of the pair-wise t-tests revealed that significant statistical differences (xvii) existed between stakeholders’ perceptions of the expected and actual experiences when using the NMMU brand. To assess the magnitude of a possible ‘gap’ between stakeholders’ expectations and actual experiences of the NMMU brand, mean score differences were converted into relative percentage ratings. The most significant findings on actual experiences (on which the level of satisfaction is based) of the NMMU brand are as follows: All relative rating scores were below 92.05%. These relative satisfaction percentages imply that respondents were not satisfied with the NMMU brand, because their expectations were not fully met. The highest rating percentage (92.05%) was obtained in respect of the statement regarding “The NMMU slogan (‘for tomorrow’) reflects the NMMU brand identity”. The lowest rating percentage (78.33%) was given to the statement “The NMMU brand exceeds expectations in terms of promises”. The second lowest rating percentage (79.67%) was found for the statement “The NMMU brand delivers on promises”. The principal recommendations emanating from this study are summarised in three groups of recommendations, namely: Recommendations pertaining to the strategic implications of the findings for the NMMU marketing communication strategists. Recommendations pertaining to the interpretation of secondary sources on brand literature, and Recommendations for future research.
- Full Text:
- Date Issued: 2006
- Authors: Han, Ying
- Date: 2006
- Subjects: Business names -- South Africa , Nelson Mandela Metropolitan University -- Name
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9265 , http://hdl.handle.net/10948/464 , Business names -- South Africa , Nelson Mandela Metropolitan University -- Name
- Description: Since 1994, South Africa has witnessed the fundamental transformation and restructuring of its Higher Education Sector. The restructuring of Higher Education Institutions in the Eastern Cape Province is manifested by inter alia the incorporation of the Port Elizabeth branch of the Vista University into the University of Port Elizabeth as a first phase and, as the final phase, the merger between the University of Port Elizabeth and the Port Elizabeth Technikon. A new, comprehensive university, the Nelson Mandela Metropolitan University (NMMU), emerged from this merger on 1 January 2005. The previous institutions each had its own unique brand identity, brand image and brand name. With reference to the newly established NMMU, the question can be raised whether the brand identity of this newly established institution impacts on its perceived brand image among all stakeholders who have an interest in the institution. Given the merger background, the purpose of this research project is twofold: firstly, to analyse the impact of independent variables (‘reputation’, ‘relevance’, ‘personality’, ‘performance’ and ‘relationship’) on brand identity (moderating variable) and the impact of brand identity on brand image (dependent variable); and secondly, to gauge the perceptions of NMMU stakeholders of the brand image of the University in terms of both expectations and actual experiences. In order to give effect to the above, a conceptual model on brand identity and brand image based on secondary sources on branding, was empirically tested. Given the purpose and nature of the research in question, a positivistic research paradigm was adopted. By means of a Likert seven-point scale, primary data was sourced from 1 092 respondents, who shared their perceptions on the expectations and actual experiences of using the NMMU brand. The statistical analysis of the data comprised six phases. Initially, the data was subjected to an exploratory factor analysis to assess the discriminant validity of (xvi) the research instrument. This was followed by an assessment of the reliability of the research instrument through an internal consistency measure (Cronbach alpha reliability coefficients). The items that remained were included in the multiple regression model to assess the impact of brand identity variables on brand identity. The next phase comprised a regression analysis of the impact of brand identity on brand image. Fifthly, to assess any differences between stakeholders’ expectations and actual experiences when using the NMMU brand, pair-wise t-tests were performed. Finally, to gauge the level of satisfaction of NMMU stakeholders when using the brand, a “gap” analysis was conducted by converting the mean scores into relative percentage ratings. The empirical findings did not fully support the conceptual model. The testing of the conceptual model revealed that the independent variable ‘relevance’ did not demonstrate sufficient discriminant validity and, as a result, no evidence of construct validity. This variable therefore had to be removed from the conceptual model before it was subjected to further empirical assessment by means of the multiple linear regression analysis. Based on this finding on ‘relevance’, NMMU marketing communication strategists could perform an in-depth investigation on the positioning of the brand. Further, it was found that the dependent variable ‘brand image’ was not a uni-dimensional construct as suggested in the conceptual model. Ideally, images (in this case, brand images of the NMMU) should feed into strategic vision, serving as a mirror in which a university can reflect on its true standing. This implies that instead of using stakeholder images as exact assessments of brand performance compared with strategic vision, images held by stakeholders of who the university is and what it stands for (e.g. personality and relevance comparisons) should become part of the strategic envisioning process. The linkage between strategic intent and brand image should be evident. The results of the pair-wise t-tests revealed that significant statistical differences (xvii) existed between stakeholders’ perceptions of the expected and actual experiences when using the NMMU brand. To assess the magnitude of a possible ‘gap’ between stakeholders’ expectations and actual experiences of the NMMU brand, mean score differences were converted into relative percentage ratings. The most significant findings on actual experiences (on which the level of satisfaction is based) of the NMMU brand are as follows: All relative rating scores were below 92.05%. These relative satisfaction percentages imply that respondents were not satisfied with the NMMU brand, because their expectations were not fully met. The highest rating percentage (92.05%) was obtained in respect of the statement regarding “The NMMU slogan (‘for tomorrow’) reflects the NMMU brand identity”. The lowest rating percentage (78.33%) was given to the statement “The NMMU brand exceeds expectations in terms of promises”. The second lowest rating percentage (79.67%) was found for the statement “The NMMU brand delivers on promises”. The principal recommendations emanating from this study are summarised in three groups of recommendations, namely: Recommendations pertaining to the strategic implications of the findings for the NMMU marketing communication strategists. Recommendations pertaining to the interpretation of secondary sources on brand literature, and Recommendations for future research.
- Full Text:
- Date Issued: 2006
Monetary policy transmission in South Africa: the prime rate-demand for credit phase
- Authors: Lehobo, Limakatso
- Date: 2006
- Subjects: South African Reserve Bank , Monetary policy -- South Africa , Banks and banking -- South Africa , Bank loans -- South Africa , Financial institutions -- South Africa , Finance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1128 , http://hdl.handle.net/10962/d1020850
- Description: A voluminous literature attempts to explain the various channels of the monetary policy transmission mechanism through which central banks ultimately achieve price stability. However, most research focuses on interest rate pass-through and the demand for money phase, while there is limited research on the demand for credit. This study endeavours to contribute to the understanding of this neglected phase of monetary policy transmission by exploring the response of the real demand for bank credit by the private sector to changes in the real prime rate from 1990:1 to 2004:4 in South Africa. Firstly, the behaviour of the real prime rate in relation to the repo rate is explored using graphical analysis. The study observes that an increase in the repo rate causes an increase in the real prime rate, such that there is always a margin of three or four percentage points between the two rates. Secondly, using secondary data, the Johansen methodology is used to determine the relationship between the demand for bank credit and its determinants (GDP, inflation, real prime rate and real yield on government bonds). Two co-integrating relationships are found. The Gaussian errors from one co-integrating vector are used to model the Vector Error Correction Model, which provides the short-run dynamics and the long-run results, through the use of Eviews 5 software. The results of the study show that while all other variables are negatively related to the demand for bank credit in the long-run, GDP has a positive influence. In the short-run, yield on government bonds and inflation coefficients depict a positive association, while the coefficients of real prime rate and GDP are negative. The error correction coefficient is -0.32, which implies that a 32% adjustment to equilibrium happens in the demand for bank credit in a quarter and that the complete adjustment takes about three quarters to complete. Thirdly, the generalised impulse responses results indicate that the impact on the real prime rate affects the demand for bank credit from the first quarter. The study concludes that the real prime rate has a negative impact on the demand for credit both in the short-run and long-run.
- Full Text:
- Date Issued: 2006
- Authors: Lehobo, Limakatso
- Date: 2006
- Subjects: South African Reserve Bank , Monetary policy -- South Africa , Banks and banking -- South Africa , Bank loans -- South Africa , Financial institutions -- South Africa , Finance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1128 , http://hdl.handle.net/10962/d1020850
- Description: A voluminous literature attempts to explain the various channels of the monetary policy transmission mechanism through which central banks ultimately achieve price stability. However, most research focuses on interest rate pass-through and the demand for money phase, while there is limited research on the demand for credit. This study endeavours to contribute to the understanding of this neglected phase of monetary policy transmission by exploring the response of the real demand for bank credit by the private sector to changes in the real prime rate from 1990:1 to 2004:4 in South Africa. Firstly, the behaviour of the real prime rate in relation to the repo rate is explored using graphical analysis. The study observes that an increase in the repo rate causes an increase in the real prime rate, such that there is always a margin of three or four percentage points between the two rates. Secondly, using secondary data, the Johansen methodology is used to determine the relationship between the demand for bank credit and its determinants (GDP, inflation, real prime rate and real yield on government bonds). Two co-integrating relationships are found. The Gaussian errors from one co-integrating vector are used to model the Vector Error Correction Model, which provides the short-run dynamics and the long-run results, through the use of Eviews 5 software. The results of the study show that while all other variables are negatively related to the demand for bank credit in the long-run, GDP has a positive influence. In the short-run, yield on government bonds and inflation coefficients depict a positive association, while the coefficients of real prime rate and GDP are negative. The error correction coefficient is -0.32, which implies that a 32% adjustment to equilibrium happens in the demand for bank credit in a quarter and that the complete adjustment takes about three quarters to complete. Thirdly, the generalised impulse responses results indicate that the impact on the real prime rate affects the demand for bank credit from the first quarter. The study concludes that the real prime rate has a negative impact on the demand for credit both in the short-run and long-run.
- Full Text:
- Date Issued: 2006
Relationship between employee performance, leadership and emotional intelligence in a South African parastatal organisation
- Authors: Hayward, Brett Anthony
- Date: 2006
- Subjects: Employees -- Rating of , Leadership , Leadership -- Psychological aspects , Emotional intelligence , Government business enterprises -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1206 , http://hdl.handle.net/10962/d1019740
- Description: This research investigates the relationship between employee performance, leadership and emotional intelligence in a South African parastatal. The literature provided discusses the three variables of performance, leadership and emotional intelligence. Information was gathered, using three instruments, from a sample of 160 leaders and 800 raters. The Multifactor Leadership Questionnaire was used to determine leadership style within the parastatal, while the Emotional Competency Profiler was used to determine the emotional intelligence of the leaders within the parastatal. Employee performance was captured and recorded using the parastatal’s performance appraisal process. Leadership and emotional intelligence were identified as the independent variables and employee performance as the dependent variable. Data obtained from each of the research instruments was then statistically analysed. Through linear regression analysis it was concluded that there is a significant relationship between employee performance and an emotionally intelligent, transactional leader. However, no significant linear relationship was found between employee performance and an emotionally intelligent, transformational leader. Simple correlation analysis showed that there is a relatively weak significant linear relationship between emotional intelligence and transactional leadership. Moreover, it was found that there is a very strong significant linear relationship between emotional intelligence and transformational leadership. This research therefore adds a new dimension to employee performance, leadership and emotional intelligence, since no similar study has been conducted. As this research takes place in the South African context, it contributes to the bank of findings relating to the concepts.
- Full Text:
- Date Issued: 2006
- Authors: Hayward, Brett Anthony
- Date: 2006
- Subjects: Employees -- Rating of , Leadership , Leadership -- Psychological aspects , Emotional intelligence , Government business enterprises -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1206 , http://hdl.handle.net/10962/d1019740
- Description: This research investigates the relationship between employee performance, leadership and emotional intelligence in a South African parastatal. The literature provided discusses the three variables of performance, leadership and emotional intelligence. Information was gathered, using three instruments, from a sample of 160 leaders and 800 raters. The Multifactor Leadership Questionnaire was used to determine leadership style within the parastatal, while the Emotional Competency Profiler was used to determine the emotional intelligence of the leaders within the parastatal. Employee performance was captured and recorded using the parastatal’s performance appraisal process. Leadership and emotional intelligence were identified as the independent variables and employee performance as the dependent variable. Data obtained from each of the research instruments was then statistically analysed. Through linear regression analysis it was concluded that there is a significant relationship between employee performance and an emotionally intelligent, transactional leader. However, no significant linear relationship was found between employee performance and an emotionally intelligent, transformational leader. Simple correlation analysis showed that there is a relatively weak significant linear relationship between emotional intelligence and transactional leadership. Moreover, it was found that there is a very strong significant linear relationship between emotional intelligence and transformational leadership. This research therefore adds a new dimension to employee performance, leadership and emotional intelligence, since no similar study has been conducted. As this research takes place in the South African context, it contributes to the bank of findings relating to the concepts.
- Full Text:
- Date Issued: 2006
The behaviour and fundamental determinants of the real exchange rate in South Africa
- Authors: Takaendesa, Peter
- Date: 2006
- Subjects: Foreign exchange rates -- South Africa , Terms of trade -- South Africa , Finance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:960 , http://hdl.handle.net/10962/d1002694 , Foreign exchange rates -- South Africa , Terms of trade -- South Africa , Finance -- South Africa
- Description: Real exchange rates have important effects on production, employment and trade, so it is crucial to understand the factors responsible for their variations. This study analyses the main determinants of the real exchange rate and the dynamic adjustment of the real exchange rate following shocks to those determinants, using quarterly South African data covering the period 1975 to 2005. It begins with a review of literature on the determinants of the real exchange rate and provides an updated background on the exchange rate system in South Africa. An empirical model linking the real exchange rate to its theoretical determinants is then specified. In contrast to previous analyses, this study augments the cointegration and vector autoregression (VAR) analysis with impulse response and variance decomposition analyses to provide robust long run effects and short run dynamic effects on the real exchange rate. The variables that have been found to have a long run relationship with the real exchange rate include the terms of trade, real interest rate differential, domestic credit, openness and technological progress. The estimate of the speed of adjustment coefficient found in this study indicates that about a third of the variation in the real exchange rate from its equilibrium level is corrected within a quarter. The impulse response functions broadly corroborate the theoretical predictions, but only the terms of trade, domestic credit and openness have a significant impact on the real exchange rate in the short run. However, only shocks to the terms of trade and domestic credit have persistent effects on the real exchange rate. Results from the variance decompositions are largely similar to those from the impulse response analysis. The terms of trade, domestic credit and openness are the only variables found to significantly explain the variation in the real exchange rate. The most interesting result that emerged from this analysis and is supported by previous research is that among other determinants, the terms of trade explain the largest proportion of the variation in the real exchange. On balance, the evidence therefore suggests that real exchange rate fluctuations are predominantly equilibrium responses to real and monetary shocks rather than fiscal policy shocks.
- Full Text:
- Date Issued: 2006
- Authors: Takaendesa, Peter
- Date: 2006
- Subjects: Foreign exchange rates -- South Africa , Terms of trade -- South Africa , Finance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:960 , http://hdl.handle.net/10962/d1002694 , Foreign exchange rates -- South Africa , Terms of trade -- South Africa , Finance -- South Africa
- Description: Real exchange rates have important effects on production, employment and trade, so it is crucial to understand the factors responsible for their variations. This study analyses the main determinants of the real exchange rate and the dynamic adjustment of the real exchange rate following shocks to those determinants, using quarterly South African data covering the period 1975 to 2005. It begins with a review of literature on the determinants of the real exchange rate and provides an updated background on the exchange rate system in South Africa. An empirical model linking the real exchange rate to its theoretical determinants is then specified. In contrast to previous analyses, this study augments the cointegration and vector autoregression (VAR) analysis with impulse response and variance decomposition analyses to provide robust long run effects and short run dynamic effects on the real exchange rate. The variables that have been found to have a long run relationship with the real exchange rate include the terms of trade, real interest rate differential, domestic credit, openness and technological progress. The estimate of the speed of adjustment coefficient found in this study indicates that about a third of the variation in the real exchange rate from its equilibrium level is corrected within a quarter. The impulse response functions broadly corroborate the theoretical predictions, but only the terms of trade, domestic credit and openness have a significant impact on the real exchange rate in the short run. However, only shocks to the terms of trade and domestic credit have persistent effects on the real exchange rate. Results from the variance decompositions are largely similar to those from the impulse response analysis. The terms of trade, domestic credit and openness are the only variables found to significantly explain the variation in the real exchange rate. The most interesting result that emerged from this analysis and is supported by previous research is that among other determinants, the terms of trade explain the largest proportion of the variation in the real exchange. On balance, the evidence therefore suggests that real exchange rate fluctuations are predominantly equilibrium responses to real and monetary shocks rather than fiscal policy shocks.
- Full Text:
- Date Issued: 2006
The influence of customer relationship management on the service quality of banks
- Authors: Rootman, Chantal
- Date: 2006
- Subjects: Customer relations -- South Africa , Banks and banking -- South Africa , Quality control
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8980 , http://hdl.handle.net/10948/400 , Customer relations -- South Africa , Banks and banking -- South Africa , Quality control
- Description: Despite the extensive research undertaken in the subject area of services marketing, much is still unknown to service providers of specific services in terms of service delivery concepts. This study attempts to address this limitation. The study revolves around the customer relationship management and service quality of banks. Service firms, including banks, are vitally important to the economy of any country, as they contribute to its Gross Domestic Product (GDP) and employment rate. However, to survive in a complex, competitive business environment, service firms are required to focus on their clients’ needs. Specifically, banks can focus on their relationships with clients and levels of service quality. In order to establish the influence of selected variables on the customer relationship management (CRM) of banks and the influence of CRM on the service quality of banks, an empirical investigation was conducted. The aim of this study was to quantify significant relationships among selected variables; therefore the positivistic research paradigm was used. The sample consisted of banking clients in the Nelson Mandela Metropolitan area. The sample size was 290, with a response rate of 91.03%. The empirical investigation revealed that significant positive relationships exist between both the knowledgeability, and attitude, of bank employees and a bank’s CRM. These relationships imply that more extensive knowledgeability of bank employees and bank employees with more positive attitudes lead to improved, maintained relationships between a bank and its clients. In addition, the empirical investigation revealed that CRM positively influences the service quality of banks. This relationship implies that if a bank successfully maintains relationships with its clients, the bank’s level of perceived service quality would increase. Additionally, the empirical investigation has shown the relationship between a banking client’s age and the CRM of a bank. The higher the age of a banking client, the more that client considers the CRM of a bank to be important. There exists a relationship between a banking client’s education level and the perceived service quality of a bank. If a banking clients’ education level increases, the importance of their bank’s service quality decreases and, conversely, a banking client with a lower level of education regards the service quality level of a bank as more important than higher qualified clients. The study indicated that strategies to improve, specifically, the knowledgeability and attitude of bank employees can and should be implemented by banks in ways to positively influence their CRM and ultimately their service quality. In effect, this will increase client satisfaction and ensure client loyalty to the bank. Ultimately, this will contribute to the bank’s success, which will ensure economic stability and prosperity for a country.
- Full Text:
- Date Issued: 2006
- Authors: Rootman, Chantal
- Date: 2006
- Subjects: Customer relations -- South Africa , Banks and banking -- South Africa , Quality control
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8980 , http://hdl.handle.net/10948/400 , Customer relations -- South Africa , Banks and banking -- South Africa , Quality control
- Description: Despite the extensive research undertaken in the subject area of services marketing, much is still unknown to service providers of specific services in terms of service delivery concepts. This study attempts to address this limitation. The study revolves around the customer relationship management and service quality of banks. Service firms, including banks, are vitally important to the economy of any country, as they contribute to its Gross Domestic Product (GDP) and employment rate. However, to survive in a complex, competitive business environment, service firms are required to focus on their clients’ needs. Specifically, banks can focus on their relationships with clients and levels of service quality. In order to establish the influence of selected variables on the customer relationship management (CRM) of banks and the influence of CRM on the service quality of banks, an empirical investigation was conducted. The aim of this study was to quantify significant relationships among selected variables; therefore the positivistic research paradigm was used. The sample consisted of banking clients in the Nelson Mandela Metropolitan area. The sample size was 290, with a response rate of 91.03%. The empirical investigation revealed that significant positive relationships exist between both the knowledgeability, and attitude, of bank employees and a bank’s CRM. These relationships imply that more extensive knowledgeability of bank employees and bank employees with more positive attitudes lead to improved, maintained relationships between a bank and its clients. In addition, the empirical investigation revealed that CRM positively influences the service quality of banks. This relationship implies that if a bank successfully maintains relationships with its clients, the bank’s level of perceived service quality would increase. Additionally, the empirical investigation has shown the relationship between a banking client’s age and the CRM of a bank. The higher the age of a banking client, the more that client considers the CRM of a bank to be important. There exists a relationship between a banking client’s education level and the perceived service quality of a bank. If a banking clients’ education level increases, the importance of their bank’s service quality decreases and, conversely, a banking client with a lower level of education regards the service quality level of a bank as more important than higher qualified clients. The study indicated that strategies to improve, specifically, the knowledgeability and attitude of bank employees can and should be implemented by banks in ways to positively influence their CRM and ultimately their service quality. In effect, this will increase client satisfaction and ensure client loyalty to the bank. Ultimately, this will contribute to the bank’s success, which will ensure economic stability and prosperity for a country.
- Full Text:
- Date Issued: 2006
The regulation of tax practitioners in South Africa: a proposed model
- Authors: Woodbridge, Taryn
- Date: 2006
- Subjects: Income tax -- Law and legislation -- South Africa , Taxation -- Law and legislation -- South Africa , South African Revenue Service
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:891 , http://hdl.handle.net/10962/d1003128 , Income tax -- Law and legislation -- South Africa , Taxation -- Law and legislation -- South Africa , South African Revenue Service
- Description: Tax practitioners in South Africa have been operating in an unregulated tax industry. This has allowed certain tax practitioners to fail in their duties to their clients, as many do not have to abide by any code of conduct or ethical principles, to the detriment of the public. Other than the provisions in the Income Tax Act, 58 of 1962, there has been no regulation. As a result of losses suffered by taxpayers either through the incompetence, ignorance or negligence of a tax practitioner, as substantiated by case law, and increased costs borne by the South African Revenue Services due to unnecessary queries and tax disputes, the Minister of Finance, Trevor Manuel, introduced the concept of tax industry regulation in his Budget Speech in 2002. This resulted in the introduction of section 67 A into the Income Tax Act, providing for a registration process for tax practitioners. All practising tax practitioners were required to register with the Commissioner for the South African Revenue Services by 30 June 2005. In addition, a discussion paper was issued in 2002 setting out the proposal of the Revenue Services to regulate the tax industry through the formation of an Association of Tax Practitioners. This proposal includes various contentious issues and casts significant doubt on whether the proposed model is the most suitable. The goal of the research was therefore to evaluate the current status of tax advisory services in order to demonstrate the need for regulation and to compare the proposed SARS model with two established regulatory authorities: the Estate Agency Affairs Board and the Australian Tax Agents Board. A conceptual model for regulation was developed in order to test all the models against a simple regulatory framework to determine whether each was aligned to certain best practices proposed in this framework. The research methodology was qualitative in nature, involving the critical interpretation of documentary data and data generated during a public discussion forum of tax practitioners. It was concluded that the SARS proposal is too prescriptive and, at the same time, too broad in its scope. In order to address the key objective, identified as protection of the taxpaying public, a simplified regulation procedure was recommended, which would adhere to the proposed regulatory framework. , KMBT_363
- Full Text:
- Date Issued: 2006
- Authors: Woodbridge, Taryn
- Date: 2006
- Subjects: Income tax -- Law and legislation -- South Africa , Taxation -- Law and legislation -- South Africa , South African Revenue Service
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:891 , http://hdl.handle.net/10962/d1003128 , Income tax -- Law and legislation -- South Africa , Taxation -- Law and legislation -- South Africa , South African Revenue Service
- Description: Tax practitioners in South Africa have been operating in an unregulated tax industry. This has allowed certain tax practitioners to fail in their duties to their clients, as many do not have to abide by any code of conduct or ethical principles, to the detriment of the public. Other than the provisions in the Income Tax Act, 58 of 1962, there has been no regulation. As a result of losses suffered by taxpayers either through the incompetence, ignorance or negligence of a tax practitioner, as substantiated by case law, and increased costs borne by the South African Revenue Services due to unnecessary queries and tax disputes, the Minister of Finance, Trevor Manuel, introduced the concept of tax industry regulation in his Budget Speech in 2002. This resulted in the introduction of section 67 A into the Income Tax Act, providing for a registration process for tax practitioners. All practising tax practitioners were required to register with the Commissioner for the South African Revenue Services by 30 June 2005. In addition, a discussion paper was issued in 2002 setting out the proposal of the Revenue Services to regulate the tax industry through the formation of an Association of Tax Practitioners. This proposal includes various contentious issues and casts significant doubt on whether the proposed model is the most suitable. The goal of the research was therefore to evaluate the current status of tax advisory services in order to demonstrate the need for regulation and to compare the proposed SARS model with two established regulatory authorities: the Estate Agency Affairs Board and the Australian Tax Agents Board. A conceptual model for regulation was developed in order to test all the models against a simple regulatory framework to determine whether each was aligned to certain best practices proposed in this framework. The research methodology was qualitative in nature, involving the critical interpretation of documentary data and data generated during a public discussion forum of tax practitioners. It was concluded that the SARS proposal is too prescriptive and, at the same time, too broad in its scope. In order to address the key objective, identified as protection of the taxpaying public, a simplified regulation procedure was recommended, which would adhere to the proposed regulatory framework. , KMBT_363
- Full Text:
- Date Issued: 2006