A critical analysis of the distintion between mining and manufacturing for South African income tax purposes
- Authors: Cloete, Loriaan
- Date: 2010
- Subjects: Mining corporations -- South Africa , Income tax -- South Africa , Income tax -- Law and legislation -- South Africa , Mining law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8948 , http://hdl.handle.net/10948/1344 , Mining corporations -- South Africa , Income tax -- South Africa , Income tax -- Law and legislation -- South Africa , Mining law -- South Africa
- Description: "Mining operations" and "mining" are defined in s 1 of the Income Tax Act (ITA). A concept that is of great significance to this definition is the matter of when a mineral is won and the related question of when does the mining process end and the process of manufacture commences. Case law has not established a definitive point that can be used by the mining taxpayer to determine where the mining process ends for income tax purposes. The Supreme Court of Appeal was presented with the perfect opportunity in the Foskor1 case to clearly define the boundaries between these processes. Unfortunately, the court did not seize this opportunity to provide legal certainty. The significance of the distinction lies in the fact that a mining taxpayer is allowed to claim accelerated capital allowances. The objective of these allowances is to provide tax relief to the mining taxpayer taking the immense risk of investing billions of rands in capital expenditure. The capital expenditure incurred will also result in direct foreign investment. This in turn will result in economic growth and job creation. Currently, there is no legal certainty as to which processes will qualify as mining operations for income tax purposes. This may result in mining taxpayers being hesitant to incur capital expenditure as the risk relating to a project would have increased. The accelerated capital allowances may therefore not serve their intended purpose. The gross domestic product (GDP) contribution from gold mining has been decreasing in the last number of years, but this decrease has to a large extent been offset by an increase in the downstream or beneficiated minerals industry. This industry has also been identified by Government as a growth sector. The downstream or beneficiated mineral industry may not be catered for in the current definition of "mining operations" and "mining" and may therefore not qualify for beneficial tax allowances. It is therefore proposed that the term "won" as used in the definition of "mining operations" and "mining" should be defined in s 1 of the ITA as follows: A mineral is "won" when all the requisite and necessary processes, including, amongst other things, refinement, beneficiation, smelting, separation, have been undertaken to the mineral to render it saleable in an open and general market. This extension will provide legal certainty to a mining taxpayer and will ensure that South Africa obtains direct foreign investment and maximum value for its minerals. This will contribute to economic growth for South Africa's developing economy and result in job creation.
- Full Text:
- Date Issued: 2010
- Authors: Cloete, Loriaan
- Date: 2010
- Subjects: Mining corporations -- South Africa , Income tax -- South Africa , Income tax -- Law and legislation -- South Africa , Mining law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8948 , http://hdl.handle.net/10948/1344 , Mining corporations -- South Africa , Income tax -- South Africa , Income tax -- Law and legislation -- South Africa , Mining law -- South Africa
- Description: "Mining operations" and "mining" are defined in s 1 of the Income Tax Act (ITA). A concept that is of great significance to this definition is the matter of when a mineral is won and the related question of when does the mining process end and the process of manufacture commences. Case law has not established a definitive point that can be used by the mining taxpayer to determine where the mining process ends for income tax purposes. The Supreme Court of Appeal was presented with the perfect opportunity in the Foskor1 case to clearly define the boundaries between these processes. Unfortunately, the court did not seize this opportunity to provide legal certainty. The significance of the distinction lies in the fact that a mining taxpayer is allowed to claim accelerated capital allowances. The objective of these allowances is to provide tax relief to the mining taxpayer taking the immense risk of investing billions of rands in capital expenditure. The capital expenditure incurred will also result in direct foreign investment. This in turn will result in economic growth and job creation. Currently, there is no legal certainty as to which processes will qualify as mining operations for income tax purposes. This may result in mining taxpayers being hesitant to incur capital expenditure as the risk relating to a project would have increased. The accelerated capital allowances may therefore not serve their intended purpose. The gross domestic product (GDP) contribution from gold mining has been decreasing in the last number of years, but this decrease has to a large extent been offset by an increase in the downstream or beneficiated minerals industry. This industry has also been identified by Government as a growth sector. The downstream or beneficiated mineral industry may not be catered for in the current definition of "mining operations" and "mining" and may therefore not qualify for beneficial tax allowances. It is therefore proposed that the term "won" as used in the definition of "mining operations" and "mining" should be defined in s 1 of the ITA as follows: A mineral is "won" when all the requisite and necessary processes, including, amongst other things, refinement, beneficiation, smelting, separation, have been undertaken to the mineral to render it saleable in an open and general market. This extension will provide legal certainty to a mining taxpayer and will ensure that South Africa obtains direct foreign investment and maximum value for its minerals. This will contribute to economic growth for South Africa's developing economy and result in job creation.
- Full Text:
- Date Issued: 2010
A critical analysis of the income tax implications of persons ceasing to be a resident of South Africa
- Authors: Loyson, Richard Michael
- Date: 2010
- Subjects: Income tax -- South Africa , Double taxation -- South Africa , Aliens -- Taxation -- South Africa , Capital gains tax -- South Africa , Citizenship -- South Africa , Emigration and immigration law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8957 , http://hdl.handle.net/10948/1180 , Income tax -- South Africa , Double taxation -- South Africa , Aliens -- Taxation -- South Africa , Capital gains tax -- South Africa , Citizenship -- South Africa , Emigration and immigration law -- South Africa
- Description: Over the last 10 years the South African fiscus has introduced numerous changes to the Income Tax Act (ITA) which affect the income tax implications of persons ceasing to be a resident of South Africa. The two main changes were: - The introduction of a world-wide basis of taxation for residents - The introduction of capital gains tax (CGT) as part of the ITA The aim of this treatise was to identify the income tax implications of persons ceasing to be a resident of South Africa. Resulting from this research, several issues in the ITA have been identified, and the two major ones are summarised below. Firstly, upon the emigration of the taxpayer, there is a deemed disposal of a taxpayer’s assets in terms of paragraph 12 of the Eighth Schedule. It is submitted that the resulting exit tax may be unconstitutional for individuals. It is recommended that South Africa should adopt the deferral method within its domestic legislation for individuals who are emigrating. The deferral method postpones the liability until the disposal of the asset. Secondly, on the subsequent disposal of assets by former residents where there was no exit charge in terms of the exemption under paragraph 12(2)(a)(i) of the Eighth Schedule. Depending on the specific double tax agreement (DTA) that has been entered into with the foreign country, taxpayers have been given vii the opportunity to minimise or eliminate the tax liability with regard to certain assets. This should be of concern from the point of view of the South African government. Further issues noted in this treatise were the following: - It is submitted that the term ‘place of effective management’ has been incorrectly interpreted by SARS in Interpretation Note 6. - It is further submitted that the interpretation by SARS of paragraph 2(2) of the Eighth Schedule is technically incorrect. The above issues that have been identified present opportunities to emigrants to take advantage of the current tax legislation. It is further recommended that taxpayers who are emigrating need to consider the South African domestic tax law implications, respective DTA’s, as well as the domestic tax laws of the other jurisdiction, not only on the date of emigration but also on the subsequent disposal of the respective assets.
- Full Text:
- Date Issued: 2010
- Authors: Loyson, Richard Michael
- Date: 2010
- Subjects: Income tax -- South Africa , Double taxation -- South Africa , Aliens -- Taxation -- South Africa , Capital gains tax -- South Africa , Citizenship -- South Africa , Emigration and immigration law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8957 , http://hdl.handle.net/10948/1180 , Income tax -- South Africa , Double taxation -- South Africa , Aliens -- Taxation -- South Africa , Capital gains tax -- South Africa , Citizenship -- South Africa , Emigration and immigration law -- South Africa
- Description: Over the last 10 years the South African fiscus has introduced numerous changes to the Income Tax Act (ITA) which affect the income tax implications of persons ceasing to be a resident of South Africa. The two main changes were: - The introduction of a world-wide basis of taxation for residents - The introduction of capital gains tax (CGT) as part of the ITA The aim of this treatise was to identify the income tax implications of persons ceasing to be a resident of South Africa. Resulting from this research, several issues in the ITA have been identified, and the two major ones are summarised below. Firstly, upon the emigration of the taxpayer, there is a deemed disposal of a taxpayer’s assets in terms of paragraph 12 of the Eighth Schedule. It is submitted that the resulting exit tax may be unconstitutional for individuals. It is recommended that South Africa should adopt the deferral method within its domestic legislation for individuals who are emigrating. The deferral method postpones the liability until the disposal of the asset. Secondly, on the subsequent disposal of assets by former residents where there was no exit charge in terms of the exemption under paragraph 12(2)(a)(i) of the Eighth Schedule. Depending on the specific double tax agreement (DTA) that has been entered into with the foreign country, taxpayers have been given vii the opportunity to minimise or eliminate the tax liability with regard to certain assets. This should be of concern from the point of view of the South African government. Further issues noted in this treatise were the following: - It is submitted that the term ‘place of effective management’ has been incorrectly interpreted by SARS in Interpretation Note 6. - It is further submitted that the interpretation by SARS of paragraph 2(2) of the Eighth Schedule is technically incorrect. The above issues that have been identified present opportunities to emigrants to take advantage of the current tax legislation. It is further recommended that taxpayers who are emigrating need to consider the South African domestic tax law implications, respective DTA’s, as well as the domestic tax laws of the other jurisdiction, not only on the date of emigration but also on the subsequent disposal of the respective assets.
- Full Text:
- Date Issued: 2010
A service-oriented approach to implementing an adaptive user interface
- Authors: Senga, Emile
- Date: 2010
- Subjects: User interfaces (Computer systems) , Service-oriented architecture (Computer science)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9287 , http://hdl.handle.net/10948/1091 , User interfaces (Computer systems) , Service-oriented architecture (Computer science)
- Description: Service-oriented architectures (SOA) are being adopted by organisations in order to integrate disparate computational assets. A major hurdle they face is the decision on how to integrate the UI in an SOA. In addition, technological advances have allowed complex applications and complex user interfaces (UIs) to be realised and the increase in accessibility to computers enables a diverse population of users with different characteristics, preferences and needs to use these complex computer applications. Adaptive user interfaces (AUIs) have been proposed as a solution to cater for the differences in user traits by adapting the UI to meet the diverse needs of users. AUIs have, however, traditionally been developed using client/server architectures This research, therefore, set out to investigate how to develop an AUI using a service-oriented architecture (SOA). In order to successfully achieve the goal of this research, literature concerning SOAs was investigated to gain an understanding of SOAs. A literature review of AUIs was also undertaken to gain an understanding of AUIs. A model-based approach was used to develop a model for UI adaptation using knowledge gained in the literature reviews. The model generates different UIs depending on various users‘ inferred level of expertise. The model describes the interaction between AUI services that use design-time documents and run-time user-interaction to adapt the UI. A prototype of the model was implemented and evaluated using an evolution strategy devised to assess different aspects of the research. The evaluation strategy proved the following: The service components of the prototype adhere to SOA design principles; The implementation was effective based on software engineering metrics; and, The implementation was usable and did not negatively affect the performance of users. The successful implementation of the prototype provides evidence that the design of AUIs using SOA is feasible. This dissertation therefore makes a contribution to the development of AUIs using SOAs. The model could be used to provide UI adaptation for business software applications.
- Full Text:
- Date Issued: 2010
- Authors: Senga, Emile
- Date: 2010
- Subjects: User interfaces (Computer systems) , Service-oriented architecture (Computer science)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9287 , http://hdl.handle.net/10948/1091 , User interfaces (Computer systems) , Service-oriented architecture (Computer science)
- Description: Service-oriented architectures (SOA) are being adopted by organisations in order to integrate disparate computational assets. A major hurdle they face is the decision on how to integrate the UI in an SOA. In addition, technological advances have allowed complex applications and complex user interfaces (UIs) to be realised and the increase in accessibility to computers enables a diverse population of users with different characteristics, preferences and needs to use these complex computer applications. Adaptive user interfaces (AUIs) have been proposed as a solution to cater for the differences in user traits by adapting the UI to meet the diverse needs of users. AUIs have, however, traditionally been developed using client/server architectures This research, therefore, set out to investigate how to develop an AUI using a service-oriented architecture (SOA). In order to successfully achieve the goal of this research, literature concerning SOAs was investigated to gain an understanding of SOAs. A literature review of AUIs was also undertaken to gain an understanding of AUIs. A model-based approach was used to develop a model for UI adaptation using knowledge gained in the literature reviews. The model generates different UIs depending on various users‘ inferred level of expertise. The model describes the interaction between AUI services that use design-time documents and run-time user-interaction to adapt the UI. A prototype of the model was implemented and evaluated using an evolution strategy devised to assess different aspects of the research. The evaluation strategy proved the following: The service components of the prototype adhere to SOA design principles; The implementation was effective based on software engineering metrics; and, The implementation was usable and did not negatively affect the performance of users. The successful implementation of the prototype provides evidence that the design of AUIs using SOA is feasible. This dissertation therefore makes a contribution to the development of AUIs using SOAs. The model could be used to provide UI adaptation for business software applications.
- Full Text:
- Date Issued: 2010
An economic analysis of the 2007 SCB conference
- Authors: Wait, Requier
- Date: 2010
- Subjects: Biodiversity conservation -- Economic aspects -- South Africa , Conservation biology -- South Africa , Biology -- Societies, etc , Managerial economics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8981 , http://hdl.handle.net/10948/1131 , Biodiversity conservation -- Economic aspects -- South Africa , Conservation biology -- South Africa , Biology -- Societies, etc , Managerial economics -- South Africa
- Description: The Society for Conservation Biology held their 21st annual conference in Port Elizabeth during July 2007. This was the first SCB conference hosted on the African continent. Over 1500 conservation professionals and students from throughout the world were brought together by the SCB annual meeting. The local organizing committee was interested in the economic impacts associated with the conference and approached the NMMU Economics Department to conduct an economic impact assessment of the conference. The Economics Department invited the researcher to undertake this study towards obtaining an MCom degree in Economics. The economic impact of conferences stems from two sources, namely: expenditure by delegates (the demand-side) and the expenditure by conference organizers (the supply-side). The study focused on the economic impacts of the conference for the Eastern Cape. The conference expenditure produced an increase in demand in the Eastern Cape. Only new expenditure originating from outside the Eastern Cape were considered. An increase in the demand for one industry’s output will create additional demand for the outputs of its supplying industries, because industries are connected through forward and backward linkages. These inter-industry linkages produce a multiplier effect. The initial direct conference expenditure created secondary impacts. The latter were indirect and induced expenditures. In addition to secondary impacts, the SCB conference produced spill-over impacts. The spill-over impacts of the conference were noted (but not quantified). The expenditure by delegates was determined by means of a delegate expenditure questionnaire conducted during the conference. The expenditure by the conference organizers was determined in consultation with the organizers, using their financial statements. The multiplier impacts were estimated by means of an input-output (IO) analysis, using a Social Accounting Matrix (SAM) of the Eastern Cape as the underlying database. These multipliers (Type 1 and 2 multipliers) were estimated using open and closed multiplier models. It was deduced that the 2007 SCB conference created a significant and positive net economic impact in the Eastern Cape. The total direct cash injection of the conference was R12.141 million. Using a Type 1 multiplier this direct stimulus is estimated to have caused an extra R16.502 million increase in gross output. Using a Type 2 multiplier this direct stimulus was estimated to have caused a R19.884 million increase in gross output. The total cash injection of the conference contributed R6.093 million to GVA in terms of a Type 1 multiplier and a R7.344 million increase in GVA in terms of a Type 2 multiplier. Household incomes in the Eastern Cape were increased by R3.384 million. These results confirm that the hosting of major events and conferences is indeed a tool for promoting regional economic development.
- Full Text:
- Date Issued: 2010
- Authors: Wait, Requier
- Date: 2010
- Subjects: Biodiversity conservation -- Economic aspects -- South Africa , Conservation biology -- South Africa , Biology -- Societies, etc , Managerial economics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8981 , http://hdl.handle.net/10948/1131 , Biodiversity conservation -- Economic aspects -- South Africa , Conservation biology -- South Africa , Biology -- Societies, etc , Managerial economics -- South Africa
- Description: The Society for Conservation Biology held their 21st annual conference in Port Elizabeth during July 2007. This was the first SCB conference hosted on the African continent. Over 1500 conservation professionals and students from throughout the world were brought together by the SCB annual meeting. The local organizing committee was interested in the economic impacts associated with the conference and approached the NMMU Economics Department to conduct an economic impact assessment of the conference. The Economics Department invited the researcher to undertake this study towards obtaining an MCom degree in Economics. The economic impact of conferences stems from two sources, namely: expenditure by delegates (the demand-side) and the expenditure by conference organizers (the supply-side). The study focused on the economic impacts of the conference for the Eastern Cape. The conference expenditure produced an increase in demand in the Eastern Cape. Only new expenditure originating from outside the Eastern Cape were considered. An increase in the demand for one industry’s output will create additional demand for the outputs of its supplying industries, because industries are connected through forward and backward linkages. These inter-industry linkages produce a multiplier effect. The initial direct conference expenditure created secondary impacts. The latter were indirect and induced expenditures. In addition to secondary impacts, the SCB conference produced spill-over impacts. The spill-over impacts of the conference were noted (but not quantified). The expenditure by delegates was determined by means of a delegate expenditure questionnaire conducted during the conference. The expenditure by the conference organizers was determined in consultation with the organizers, using their financial statements. The multiplier impacts were estimated by means of an input-output (IO) analysis, using a Social Accounting Matrix (SAM) of the Eastern Cape as the underlying database. These multipliers (Type 1 and 2 multipliers) were estimated using open and closed multiplier models. It was deduced that the 2007 SCB conference created a significant and positive net economic impact in the Eastern Cape. The total direct cash injection of the conference was R12.141 million. Using a Type 1 multiplier this direct stimulus is estimated to have caused an extra R16.502 million increase in gross output. Using a Type 2 multiplier this direct stimulus was estimated to have caused a R19.884 million increase in gross output. The total cash injection of the conference contributed R6.093 million to GVA in terms of a Type 1 multiplier and a R7.344 million increase in GVA in terms of a Type 2 multiplier. Household incomes in the Eastern Cape were increased by R3.384 million. These results confirm that the hosting of major events and conferences is indeed a tool for promoting regional economic development.
- Full Text:
- Date Issued: 2010
Copreneurships in South African small and medium-sized family business
- Authors: Eybers, Carey
- Date: 2010
- Subjects: Couple-owned business enterprises , Family-owned business enterprises -- Succession -- South Africa , Entrepreneurship -- South Africa , Small business -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9285 , http://hdl.handle.net/10948/1207 , Couple-owned business enterprises , Family-owned business enterprises -- Succession -- South Africa , Entrepreneurship -- South Africa , Small business -- South Africa
- Description: Taking cognisance of the increasingly important role that copreneurial businesses play in national economies, the unique challenges that they face, and the lack of research attention given to such spousal teams, the purpose of this study was to contribute to the more effective functioning of copreneurships in South Africa by identifying the factors that impact on their success. Consequently, the primary objective of this study was to investigate the factors that influence the Perceived success of copreneurships in South Africa, as well as the conditions required for the effective and harmonious functioning of such spousal partnerships. This study seeks to incorporate previous findings and studies on team effectiveness and spousal relationships into a comprehensive conceptual model. After conducting a comprehensive literature study, as well as examining the different teamwork models proposed and the study by Farrington (2009), it became clear that successful teams have validated their proficiency with regard to two types of factors, namely, relational-based and organisational-based factors. Within these two categories of factors, 14 independent variables were identified and hypothesised to influence the measures of effectiveness of copreneurships, namely the dependent variable Perceived success; and the intervening variable Financial performance. All of the factors in this study were clearly defined and operationalised. Reliable and valid items sourced from Farrington’s (2009) measuring instrument, as well as several measuring instruments used in other studies, were used in the operationalisation of these factors. In addition, several items were self-generated from secondary sources. Respondents were identified using the convenience snowball sampling technique, and a structured questionnaire was made available to them. The data gathered from the 380 usable questionnaires was subjected to various statistical analyses. The validity and reliability of the measuring instrument was confirmed by means of an exploratory factor analysis, and Cronbach-alpha coefficients were calculated for this purpose. The original intervening variable Financial performance could not be confirmed as originally intended in the conceptual model. Instead, Financial performance split into v two separate variables which were named Financial performance and Growth performance. The original dependent variable Perceived success was confirmed by the factor analyses. The relational- and organisational-based factors could not be confirmed as originally intended in the conceptual model. Instead, seven new relational- and seven new organisational-based factors emerged, and where necessary these factors were renamed. The primary statistical procedure used to test the significance of the relationships hypothesised between the independent and dependent variables in this study, was Structural Equation Modelling (SEM). Owing to the sample-size restrictions, the conceptual model could not be subjected to SEM as a whole. Instead, seven submodels were identified and subjected to further analysis. The following independent variables were identified as influencing the dependent and intervening variables in this study: • Spousal relationship • Commitment to spouse • Equal status • Commitment to the business • Emotional attachment • Non-family involvement • Personal needs alignment • Leadership • Competencies • Internal context In order to investigate the influence of the various demographic variables on the intervening and dependent variables, an Analysis of Variance (ANOVA), Multiple Linear Regression analysis and t-tests were performed. How leadership occurs in a copreneurial business, the tenure of the business, the location of the business, the status of the copreneurship, the level of spousal involvement in the business and the vi number of employees were found to have an influence on the intervening and dependent variables of this study. By empirically investigating copreneurships, this study has added to the limited amount of family business literature on these complex partnerships. By way of the conceptual models developed in this study a significant contribution has been made towards understanding the factors influencing the success of copreneurships. As a result, this study presents recommendations and suggestions to assist couples in managing their copreneurships in such a way as to nurture their marriage relationships and at the same time enhance the performance of their businesses.
- Full Text:
- Date Issued: 2010
- Authors: Eybers, Carey
- Date: 2010
- Subjects: Couple-owned business enterprises , Family-owned business enterprises -- Succession -- South Africa , Entrepreneurship -- South Africa , Small business -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9285 , http://hdl.handle.net/10948/1207 , Couple-owned business enterprises , Family-owned business enterprises -- Succession -- South Africa , Entrepreneurship -- South Africa , Small business -- South Africa
- Description: Taking cognisance of the increasingly important role that copreneurial businesses play in national economies, the unique challenges that they face, and the lack of research attention given to such spousal teams, the purpose of this study was to contribute to the more effective functioning of copreneurships in South Africa by identifying the factors that impact on their success. Consequently, the primary objective of this study was to investigate the factors that influence the Perceived success of copreneurships in South Africa, as well as the conditions required for the effective and harmonious functioning of such spousal partnerships. This study seeks to incorporate previous findings and studies on team effectiveness and spousal relationships into a comprehensive conceptual model. After conducting a comprehensive literature study, as well as examining the different teamwork models proposed and the study by Farrington (2009), it became clear that successful teams have validated their proficiency with regard to two types of factors, namely, relational-based and organisational-based factors. Within these two categories of factors, 14 independent variables were identified and hypothesised to influence the measures of effectiveness of copreneurships, namely the dependent variable Perceived success; and the intervening variable Financial performance. All of the factors in this study were clearly defined and operationalised. Reliable and valid items sourced from Farrington’s (2009) measuring instrument, as well as several measuring instruments used in other studies, were used in the operationalisation of these factors. In addition, several items were self-generated from secondary sources. Respondents were identified using the convenience snowball sampling technique, and a structured questionnaire was made available to them. The data gathered from the 380 usable questionnaires was subjected to various statistical analyses. The validity and reliability of the measuring instrument was confirmed by means of an exploratory factor analysis, and Cronbach-alpha coefficients were calculated for this purpose. The original intervening variable Financial performance could not be confirmed as originally intended in the conceptual model. Instead, Financial performance split into v two separate variables which were named Financial performance and Growth performance. The original dependent variable Perceived success was confirmed by the factor analyses. The relational- and organisational-based factors could not be confirmed as originally intended in the conceptual model. Instead, seven new relational- and seven new organisational-based factors emerged, and where necessary these factors were renamed. The primary statistical procedure used to test the significance of the relationships hypothesised between the independent and dependent variables in this study, was Structural Equation Modelling (SEM). Owing to the sample-size restrictions, the conceptual model could not be subjected to SEM as a whole. Instead, seven submodels were identified and subjected to further analysis. The following independent variables were identified as influencing the dependent and intervening variables in this study: • Spousal relationship • Commitment to spouse • Equal status • Commitment to the business • Emotional attachment • Non-family involvement • Personal needs alignment • Leadership • Competencies • Internal context In order to investigate the influence of the various demographic variables on the intervening and dependent variables, an Analysis of Variance (ANOVA), Multiple Linear Regression analysis and t-tests were performed. How leadership occurs in a copreneurial business, the tenure of the business, the location of the business, the status of the copreneurship, the level of spousal involvement in the business and the vi number of employees were found to have an influence on the intervening and dependent variables of this study. By empirically investigating copreneurships, this study has added to the limited amount of family business literature on these complex partnerships. By way of the conceptual models developed in this study a significant contribution has been made towards understanding the factors influencing the success of copreneurships. As a result, this study presents recommendations and suggestions to assist couples in managing their copreneurships in such a way as to nurture their marriage relationships and at the same time enhance the performance of their businesses.
- Full Text:
- Date Issued: 2010
Day-of-the-week effect : evidence from nine sectors of the South African stock market
- Authors: Mbululu, Douglas
- Date: 2010
- Subjects: Stock exchanges -- South Africa , Johannesburg Stock Exchange , Stocks -- Prices -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1024 , http://hdl.handle.net/10962/d1002759 , Stock exchanges -- South Africa , Johannesburg Stock Exchange , Stocks -- Prices -- South Africa
- Description: The day-of-the-week effect in share prices is one of the most extensively researched anomalies, especially in developed markets. However, emerging African stock markets have received little attention in this regard. This study breaks new ground in using non-parametric tests directly on skewness and kurtosis to examine whether the day-of-he-week effect exists in nine listed stock market sector indices of the JSE Securities Exchange of South Africa (JSE). Different day-of-the-week effects were found to be present in the statistical moments of returns of these nine JSE sectors
- Full Text:
- Date Issued: 2010
- Authors: Mbululu, Douglas
- Date: 2010
- Subjects: Stock exchanges -- South Africa , Johannesburg Stock Exchange , Stocks -- Prices -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1024 , http://hdl.handle.net/10962/d1002759 , Stock exchanges -- South Africa , Johannesburg Stock Exchange , Stocks -- Prices -- South Africa
- Description: The day-of-the-week effect in share prices is one of the most extensively researched anomalies, especially in developed markets. However, emerging African stock markets have received little attention in this regard. This study breaks new ground in using non-parametric tests directly on skewness and kurtosis to examine whether the day-of-he-week effect exists in nine listed stock market sector indices of the JSE Securities Exchange of South Africa (JSE). Different day-of-the-week effects were found to be present in the statistical moments of returns of these nine JSE sectors
- Full Text:
- Date Issued: 2010
Derivatives in emerging markets: a South African focus
- Authors: Schwegler, Stefan
- Date: 2010
- Subjects: Derivative securities , South Africa -- Economic conditions -- 21st century
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9281 , http://hdl.handle.net/10948/1401 , Derivative securities , South Africa -- Economic conditions -- 21st century
- Description: This research focused on derivative instruments which are financial securities whose values are derived from the values of underlying assets, such as shares, bonds, currencies or interest rates. Derivatives are predominantly used to manage risks in portfolios (hedging) and trading (speculation). Derivatives have been used for centuries and have developed into one of the largest global financial markets. The most common derivative instruments available to investors are options, futures, swaps and contracts for difference, as they are fairly easy to understand and apply. During the 2008/2009 global financial crisis derivatives, especially credit derivatives, made headlines and although they did not cause the crisis, they accelerated it. Furthermore, the 2008/2009 financial crisis also increased the negative sentiments many investors have towards derivatives. As a result of the crisis the growth in the global derivatives market came to a halt for the first time in decades. In light of the above, the primary objective of this study was to gain a deeper understanding of derivatives trading in emerging markets, especially in the South African context, as these financial securities are very useful portfolio management tools. The aim of this study was to describe the current state of the South African derivatives market; to investigate the role that derivative instruments played in the 2008/2009 global financial crisis; and to identify the variables influencing investors’ decisions whether or not to include derivatives in their portfolios. Given the nature of the problem stated a qualitative or phenomenological research paradigm was adopted. This paradigm was deemed suitable given the exploratory nature of the research. Primary and secondary data for this study were obtained through semi-structured personal interviews with 21 experts in the South African financial services industry and through an extensive literature review, respectively. A research instrument, based on the literature review was developed to facilitate the interviewing process. The results of the empirical investigation show that although the majority of respondents use derivative instruments in managing their portfolios, the South African derivatives market is still in its development phase. Many investors do not use derivatives frequently as they lack knowledge about derivative instruments, receive uncompetitive prices, are restricted by rules and regulations as well as investment mandates. Fourteen variables were identified as having a possible impact on investors' decisions whether or not to use derivatives in their portfolios. The five variables identified in the empirical investigation as being the most important, were the level of information available and the transparency of price determination; investor’s knowledge of different derivative instruments; investor’s level of risk tolerance; the level of liquidity in the market; and investor's knowledge and familiarity with financial markets. The findings of this study suggest that financial institutions, selling and trading derivative instruments, should concentrate on these five variables to make derivatives more attractive investment alternatives for investors. In order for South African investors to consider derivatives as suitable investments more often, it is strongly recommended to educate investors better about these products and decrease the negative sentiments investors have towards derivatives. This should be done by showing and explaining to investors that derivatives are useful hedging and portfolio management tools. It is necessary to state the dangers and benefits of derivatives, as well as the features differentiating them. Financial institutions trading derivative instruments, local education facilities (e.g. universities) and financial markets related organisations should educate investors by providing various educational tools, such as online courses, booklets, seminars or presentations about derivative products on offer. Furthermore, it is highly recommended to make derivative markets more transparent through adequate and appropriate regulations. In that, investors are better protected from counterparty risks and trade in a safer environment due to clearing houses.
- Full Text:
- Date Issued: 2010
- Authors: Schwegler, Stefan
- Date: 2010
- Subjects: Derivative securities , South Africa -- Economic conditions -- 21st century
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9281 , http://hdl.handle.net/10948/1401 , Derivative securities , South Africa -- Economic conditions -- 21st century
- Description: This research focused on derivative instruments which are financial securities whose values are derived from the values of underlying assets, such as shares, bonds, currencies or interest rates. Derivatives are predominantly used to manage risks in portfolios (hedging) and trading (speculation). Derivatives have been used for centuries and have developed into one of the largest global financial markets. The most common derivative instruments available to investors are options, futures, swaps and contracts for difference, as they are fairly easy to understand and apply. During the 2008/2009 global financial crisis derivatives, especially credit derivatives, made headlines and although they did not cause the crisis, they accelerated it. Furthermore, the 2008/2009 financial crisis also increased the negative sentiments many investors have towards derivatives. As a result of the crisis the growth in the global derivatives market came to a halt for the first time in decades. In light of the above, the primary objective of this study was to gain a deeper understanding of derivatives trading in emerging markets, especially in the South African context, as these financial securities are very useful portfolio management tools. The aim of this study was to describe the current state of the South African derivatives market; to investigate the role that derivative instruments played in the 2008/2009 global financial crisis; and to identify the variables influencing investors’ decisions whether or not to include derivatives in their portfolios. Given the nature of the problem stated a qualitative or phenomenological research paradigm was adopted. This paradigm was deemed suitable given the exploratory nature of the research. Primary and secondary data for this study were obtained through semi-structured personal interviews with 21 experts in the South African financial services industry and through an extensive literature review, respectively. A research instrument, based on the literature review was developed to facilitate the interviewing process. The results of the empirical investigation show that although the majority of respondents use derivative instruments in managing their portfolios, the South African derivatives market is still in its development phase. Many investors do not use derivatives frequently as they lack knowledge about derivative instruments, receive uncompetitive prices, are restricted by rules and regulations as well as investment mandates. Fourteen variables were identified as having a possible impact on investors' decisions whether or not to use derivatives in their portfolios. The five variables identified in the empirical investigation as being the most important, were the level of information available and the transparency of price determination; investor’s knowledge of different derivative instruments; investor’s level of risk tolerance; the level of liquidity in the market; and investor's knowledge and familiarity with financial markets. The findings of this study suggest that financial institutions, selling and trading derivative instruments, should concentrate on these five variables to make derivatives more attractive investment alternatives for investors. In order for South African investors to consider derivatives as suitable investments more often, it is strongly recommended to educate investors better about these products and decrease the negative sentiments investors have towards derivatives. This should be done by showing and explaining to investors that derivatives are useful hedging and portfolio management tools. It is necessary to state the dangers and benefits of derivatives, as well as the features differentiating them. Financial institutions trading derivative instruments, local education facilities (e.g. universities) and financial markets related organisations should educate investors by providing various educational tools, such as online courses, booklets, seminars or presentations about derivative products on offer. Furthermore, it is highly recommended to make derivative markets more transparent through adequate and appropriate regulations. In that, investors are better protected from counterparty risks and trade in a safer environment due to clearing houses.
- Full Text:
- Date Issued: 2010
Farm wages and working conditions in the Albany District, 1957-2008
- Authors: Roberts, Tamaryn Jean
- Date: 2010
- Subjects: Agricultural laborers -- South Africa -- Eastern Cape , Agricultural wages -- South Africa -- Eastern Cape , Agricultural laborers -- Legal status, laws, etc. -- South Africa , Agricultural laborers -- Protection -- South Africa , Agricultural laws and legislation -- South Africa , Labour laws and legislation -- South Africa , Labour economics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:978 , http://hdl.handle.net/10962/d1002712
- Description: Agriculture is a major employer of labour in South Africa with about 8.8% of the total labour force directly involved in agricultural production (StatsSA, 2007a). Farm wages and working conditions in the Albany district were researched in 1957 by Roberts (1958) and 1977 by Antrobus (1984). Research in 2008, involving face-to-face interviews of a sample survey of 40 Albany farmers, was undertaken to update the situation facing farm labourers and allowed for comparisons with the work previously done. Farm workers were governed by common law until 1994 when the government intervened with legislation. The introduction of the Basic Conditions of Employment Act (1997) for farm workers, amended in 2002 to include minimum wage legislation, and the Extension of Security of Tenure Act (ESTA) of 1997 impacted the supply and demand of farm workers. Other impacts have been due to the Albany district experiencing an increase in the establishment of Private Game Reserves and game-tourism with a simultaneous decline in conventional farming. It was concluded from the survey conducted that minimum wage legislation decreased the demand for regular and increased the demand for casual labour, which incur lower costs including transaction costs, than their regular counterparts. The ESTA of 1997 contributed to a decreased number of farm residents, which had spin-off affects on the supply of labour. Farmers experienced a simultaneous price-cost squeeze, which furthermore decreased the demand for labour. Studying the working and living conditions showed that farm workers had limited access to educational and recreational facilities which negatively impacted the supply of labour.
- Full Text:
- Date Issued: 2010
- Authors: Roberts, Tamaryn Jean
- Date: 2010
- Subjects: Agricultural laborers -- South Africa -- Eastern Cape , Agricultural wages -- South Africa -- Eastern Cape , Agricultural laborers -- Legal status, laws, etc. -- South Africa , Agricultural laborers -- Protection -- South Africa , Agricultural laws and legislation -- South Africa , Labour laws and legislation -- South Africa , Labour economics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:978 , http://hdl.handle.net/10962/d1002712
- Description: Agriculture is a major employer of labour in South Africa with about 8.8% of the total labour force directly involved in agricultural production (StatsSA, 2007a). Farm wages and working conditions in the Albany district were researched in 1957 by Roberts (1958) and 1977 by Antrobus (1984). Research in 2008, involving face-to-face interviews of a sample survey of 40 Albany farmers, was undertaken to update the situation facing farm labourers and allowed for comparisons with the work previously done. Farm workers were governed by common law until 1994 when the government intervened with legislation. The introduction of the Basic Conditions of Employment Act (1997) for farm workers, amended in 2002 to include minimum wage legislation, and the Extension of Security of Tenure Act (ESTA) of 1997 impacted the supply and demand of farm workers. Other impacts have been due to the Albany district experiencing an increase in the establishment of Private Game Reserves and game-tourism with a simultaneous decline in conventional farming. It was concluded from the survey conducted that minimum wage legislation decreased the demand for regular and increased the demand for casual labour, which incur lower costs including transaction costs, than their regular counterparts. The ESTA of 1997 contributed to a decreased number of farm residents, which had spin-off affects on the supply of labour. Farmers experienced a simultaneous price-cost squeeze, which furthermore decreased the demand for labour. Studying the working and living conditions showed that farm workers had limited access to educational and recreational facilities which negatively impacted the supply of labour.
- Full Text:
- Date Issued: 2010
Motivation and complexity : an exploration of a complexity approach in employee motivation with specific focus on a Lacanian model of desire
- Authors: Botha, Anton Ivan
- Date: 2010
- Subjects: Employee motivation , Employee morale , Incentive awards
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9400 , http://hdl.handle.net/10948/1232 , Employee motivation , Employee morale , Incentive awards
- Description: Since employee motivation contributes to overall organisational success, reliable motivation theory should inform management and reward practices. Yet, motivation theory is currently in a state of paralysis, with no constructive theorising taking place. Analysis of its methodological presuppositions reveals that it relies on out-dated binary thinking, prioritising, e.g. either a ‘machine-like’ (body driven) or ‘god-like’ (rationally driven) understanding of humanity. In this study it is argued that the revival of motivation theory requires a paradigmatic shift towards a complexity methodology because human motivation was found to be a complex system and must be theorised accordingly. It was found that McAdams’ theory of personality which brought together personality traits, conditioning, and motives could form the basis of a complex theory of motivation. On this basis, a complex model was developed which incorporated elements of existing motivational theories. This model proposed that drives, which motivate behaviour, are a combination of instincts, needs, and desires, mediated by personality traits, rational processing, and conditioning. All of these interconnected elements, as well as biological and environmental conditions, have an impact on, and are influenced by one another. For the purposes of understanding employee motivation the element of desire was isolated as a potential means to value segment employees. A Lacanian theory was utilised to elaborate on the element of desire. This theory postulated that individuals tend to display a dominance is one of nine kinds and modes of desire. An instrument was developed to test the applicability of the Lacanian model. It was developed in five phases which included three pilot studies and two samplings. A total of 591 respondents participated in the empirical research study with 428 in the first sample and 70 in the second; the remaining 93 made up the pilot studies. Unlike the initial version of the instrument used in the first sample (n=428) the data obtained by the last version (n=70) revealed that the instrument held some form of reliability and validity. Once analysed through descriptive and inferential statistics the data supported the view that individuals tended to display dominance in a kind and mode of desire as per the Lacanian model, and sufficient variance existed to preliminarily conclude that this model could be used as a means to value segment employees. Recommendations were as follows: (1) that complexity methodology should inform future motivation theorising, (2) that the proposed complexity models be further empirically tested, (3) that an adequately complex, flexible rewards system be considered, (4) that both managers and employees make use of the developed instrument to aid them in the selection of rewards that will lead to increased satisfaction.
- Full Text:
- Date Issued: 2010
- Authors: Botha, Anton Ivan
- Date: 2010
- Subjects: Employee motivation , Employee morale , Incentive awards
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9400 , http://hdl.handle.net/10948/1232 , Employee motivation , Employee morale , Incentive awards
- Description: Since employee motivation contributes to overall organisational success, reliable motivation theory should inform management and reward practices. Yet, motivation theory is currently in a state of paralysis, with no constructive theorising taking place. Analysis of its methodological presuppositions reveals that it relies on out-dated binary thinking, prioritising, e.g. either a ‘machine-like’ (body driven) or ‘god-like’ (rationally driven) understanding of humanity. In this study it is argued that the revival of motivation theory requires a paradigmatic shift towards a complexity methodology because human motivation was found to be a complex system and must be theorised accordingly. It was found that McAdams’ theory of personality which brought together personality traits, conditioning, and motives could form the basis of a complex theory of motivation. On this basis, a complex model was developed which incorporated elements of existing motivational theories. This model proposed that drives, which motivate behaviour, are a combination of instincts, needs, and desires, mediated by personality traits, rational processing, and conditioning. All of these interconnected elements, as well as biological and environmental conditions, have an impact on, and are influenced by one another. For the purposes of understanding employee motivation the element of desire was isolated as a potential means to value segment employees. A Lacanian theory was utilised to elaborate on the element of desire. This theory postulated that individuals tend to display a dominance is one of nine kinds and modes of desire. An instrument was developed to test the applicability of the Lacanian model. It was developed in five phases which included three pilot studies and two samplings. A total of 591 respondents participated in the empirical research study with 428 in the first sample and 70 in the second; the remaining 93 made up the pilot studies. Unlike the initial version of the instrument used in the first sample (n=428) the data obtained by the last version (n=70) revealed that the instrument held some form of reliability and validity. Once analysed through descriptive and inferential statistics the data supported the view that individuals tended to display dominance in a kind and mode of desire as per the Lacanian model, and sufficient variance existed to preliminarily conclude that this model could be used as a means to value segment employees. Recommendations were as follows: (1) that complexity methodology should inform future motivation theorising, (2) that the proposed complexity models be further empirically tested, (3) that an adequately complex, flexible rewards system be considered, (4) that both managers and employees make use of the developed instrument to aid them in the selection of rewards that will lead to increased satisfaction.
- Full Text:
- Date Issued: 2010
Servant leadership principle as part of the corporate philosophies of companies
- Authors: Du Plessis, Francine
- Date: 2010
- Subjects: Leadership -- South Africa -- Eastern Cape , Servant leadership -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9283 , http://hdl.handle.net/10948/1359 , Leadership -- South Africa -- Eastern Cape , Servant leadership -- South Africa -- Eastern Cape
- Description: This research provides insight into the servant leadership principles that are found in the mission, vision and values statements of companies. The primary purpose of this study is to investigate the corporate philosophies of companies to ascertain whether it contains servant leadership principles and thus to what extent these companies may utilise these principles. Mayer, Bardes and Piccolo (2008) state that servant leaders are lead by a moral orientation, which results in the likelihood of them engaging in ethical practices and being unbiased in the decision-making process. The lack of moral and ethical behaviour by leaders indicates that there is a need for a leadership method that is based on ethical practices and moral behaviour. Trompenaars and Voerman (2009) noted that companies who have implemented servant leadership are successful as a result. Spears (2004) indicated that the corporate philosophy of a company should reflect its leadership. This study will therefore aim to identify whether servant leadership principles are evident in the corporate philosophies of companies by using a framework developed to investigate servant leadership. A mixed method empirical research design was applied, using published financial statements to analyse the corporate philosophies of companies. Convenience sampling was used to identify a sample of 100 companies. Fifty companies from the top 200 listed companies at the Johannesburg Stock Exchange in South Africa (JSE) and another fifty companies from the top 100 listed companies at the New York Stock Exchange (NYSE) were included in the sample. The values statements, missions and visions of each company were qualitatively analysed and coded. This resulted in a set of data that could be quantitatively analysed. The results show that the majority of the sample as a whole displayed at least five out of the ten servant leadership principles. The JSE sample only displayed five out of the ten xv servant leadership principles compared to the NYSE sample that displayed seven out of the ten. There was also no statistical significant difference between the results of the respondent companies of the two stock exchanges. The JSE sample referred mostly to the servant leadership principle of Integrity, while the NYSE sample referred mostly to Employee empowerment and development. It can be concluded that servant leadership principles are indeed present in the corporate philosophies of companies listed on both the JSE and the NYSE. However, these principles are present in varying degrees. This study provides research on servant leadership principles by providing an international comparison of the missions, visions and values statements of companies in two countries. The framework developed to investigate servant leadership principles can thus be further extended and used to investigate whether businesses in general are employing these principles.
- Full Text:
- Date Issued: 2010
- Authors: Du Plessis, Francine
- Date: 2010
- Subjects: Leadership -- South Africa -- Eastern Cape , Servant leadership -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9283 , http://hdl.handle.net/10948/1359 , Leadership -- South Africa -- Eastern Cape , Servant leadership -- South Africa -- Eastern Cape
- Description: This research provides insight into the servant leadership principles that are found in the mission, vision and values statements of companies. The primary purpose of this study is to investigate the corporate philosophies of companies to ascertain whether it contains servant leadership principles and thus to what extent these companies may utilise these principles. Mayer, Bardes and Piccolo (2008) state that servant leaders are lead by a moral orientation, which results in the likelihood of them engaging in ethical practices and being unbiased in the decision-making process. The lack of moral and ethical behaviour by leaders indicates that there is a need for a leadership method that is based on ethical practices and moral behaviour. Trompenaars and Voerman (2009) noted that companies who have implemented servant leadership are successful as a result. Spears (2004) indicated that the corporate philosophy of a company should reflect its leadership. This study will therefore aim to identify whether servant leadership principles are evident in the corporate philosophies of companies by using a framework developed to investigate servant leadership. A mixed method empirical research design was applied, using published financial statements to analyse the corporate philosophies of companies. Convenience sampling was used to identify a sample of 100 companies. Fifty companies from the top 200 listed companies at the Johannesburg Stock Exchange in South Africa (JSE) and another fifty companies from the top 100 listed companies at the New York Stock Exchange (NYSE) were included in the sample. The values statements, missions and visions of each company were qualitatively analysed and coded. This resulted in a set of data that could be quantitatively analysed. The results show that the majority of the sample as a whole displayed at least five out of the ten servant leadership principles. The JSE sample only displayed five out of the ten xv servant leadership principles compared to the NYSE sample that displayed seven out of the ten. There was also no statistical significant difference between the results of the respondent companies of the two stock exchanges. The JSE sample referred mostly to the servant leadership principle of Integrity, while the NYSE sample referred mostly to Employee empowerment and development. It can be concluded that servant leadership principles are indeed present in the corporate philosophies of companies listed on both the JSE and the NYSE. However, these principles are present in varying degrees. This study provides research on servant leadership principles by providing an international comparison of the missions, visions and values statements of companies in two countries. The framework developed to investigate servant leadership principles can thus be further extended and used to investigate whether businesses in general are employing these principles.
- Full Text:
- Date Issued: 2010
The relationship between bank concentration and the interest rate pass through in selected African countries
- Mangwengwende, Tadiwanashe Mukudzeyi
- Authors: Mangwengwende, Tadiwanashe Mukudzeyi
- Date: 2010
- Subjects: Interest rates -- Effect of inflation on -- Africa , Monetary policy -- Africa , Prime rate , Prime rate -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:942 , http://hdl.handle.net/10962/d1002675
- Description: Given the importance of monetary policy in the operation of a successful modern economy and the use of official interest rates as tools in its implementation, this study investigates the implications of changing bank concentration on the operation of the Interest Rate Pass Through (IRPT) of official rates to bank lending and deposit rates. This is an issue made more poignant by growing mergers, acquisitions and bank consolidation exercises around the world that have brought interest to their implications for economic performance. However, with contention high in the industrial organisation theory on the likely relationship between bank concentration and the IRPT, and the outcomes of empirical investigations producing conflicting evidence, the desire to investigate the issue in the African context necessitated a thorough empirical investigation of four African countries (South Africa, Botswana, Nigeria and Zambia). This study not only extended the investigation of the issue to the African context, but it merged different IRPT measurement techniques that had not been jointly applied to this particular issue, namely; Symmetric and Asymmetric Error Correction Models, Mean Adjustment Lags, Ordinary Least Squares estimations and Autoregressive Distributed Lag models. These measures of the IRPT were compared with three firm concentration ratios on two different levels of analysis, one, over the entire period and, another, through eight year rolling windows. The results reveal that bank concentration can sometimes be related to the speed and magnitude of the IRPT but that these relationships are not consistent amongst the countries, over the entire sample period or across the two levels of analysis, suggesting reasons why empirical results have arrived at contrasting conclusions. The results revealed more evidence of a relationship between bank concentration and the magnitude of the IRPT than between bank concentration and the speed of the IRPT. Furthermore, where relationships were identified there was evidence supporting both the structure conduct performance hypothesis and the competing efficient market hypothesis as the true representation of the relationship between bank concentration and the IRPT. The key implication of the result for African countries is that increased bank concentration through bank consolidation programmes should not be automatically regarded as detrimental to the effective implementation of monetary policy through the IRPT. Consequently,banking sector regulation need not stifle bank consolidation and growth to preserve monetary policy effectiveness. Rather, since the relationship cannot be neatly represented by a single theory or hypothesis each country must determine its own interaction between bank concentration and its IRPT before policies regarding the banking sector concentration and effective monetary policy, through the use of official interest rates, are determined.
- Full Text:
- Date Issued: 2010
- Authors: Mangwengwende, Tadiwanashe Mukudzeyi
- Date: 2010
- Subjects: Interest rates -- Effect of inflation on -- Africa , Monetary policy -- Africa , Prime rate , Prime rate -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:942 , http://hdl.handle.net/10962/d1002675
- Description: Given the importance of monetary policy in the operation of a successful modern economy and the use of official interest rates as tools in its implementation, this study investigates the implications of changing bank concentration on the operation of the Interest Rate Pass Through (IRPT) of official rates to bank lending and deposit rates. This is an issue made more poignant by growing mergers, acquisitions and bank consolidation exercises around the world that have brought interest to their implications for economic performance. However, with contention high in the industrial organisation theory on the likely relationship between bank concentration and the IRPT, and the outcomes of empirical investigations producing conflicting evidence, the desire to investigate the issue in the African context necessitated a thorough empirical investigation of four African countries (South Africa, Botswana, Nigeria and Zambia). This study not only extended the investigation of the issue to the African context, but it merged different IRPT measurement techniques that had not been jointly applied to this particular issue, namely; Symmetric and Asymmetric Error Correction Models, Mean Adjustment Lags, Ordinary Least Squares estimations and Autoregressive Distributed Lag models. These measures of the IRPT were compared with three firm concentration ratios on two different levels of analysis, one, over the entire period and, another, through eight year rolling windows. The results reveal that bank concentration can sometimes be related to the speed and magnitude of the IRPT but that these relationships are not consistent amongst the countries, over the entire sample period or across the two levels of analysis, suggesting reasons why empirical results have arrived at contrasting conclusions. The results revealed more evidence of a relationship between bank concentration and the magnitude of the IRPT than between bank concentration and the speed of the IRPT. Furthermore, where relationships were identified there was evidence supporting both the structure conduct performance hypothesis and the competing efficient market hypothesis as the true representation of the relationship between bank concentration and the IRPT. The key implication of the result for African countries is that increased bank concentration through bank consolidation programmes should not be automatically regarded as detrimental to the effective implementation of monetary policy through the IRPT. Consequently,banking sector regulation need not stifle bank consolidation and growth to preserve monetary policy effectiveness. Rather, since the relationship cannot be neatly represented by a single theory or hypothesis each country must determine its own interaction between bank concentration and its IRPT before policies regarding the banking sector concentration and effective monetary policy, through the use of official interest rates, are determined.
- Full Text:
- Date Issued: 2010
Unethical decision-making and behaviour in the life insurance sector of South Africa
- Authors: Van Greunen, Conrad
- Date: 2010
- Subjects: Insurance companies -- Corrupt pratices -- South Africa , Business ethics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9282 , http://hdl.handle.net/10948/1364 , Insurance companies -- Corrupt pratices -- South Africa , Business ethics -- South Africa
- Description: The public is regularly shocked by revelations of new business scandals. Nearly every sector of society is tainted by incidents of unethical behaviour. In this regard, the South African financial services industry has attracted a lot of attention, as some of the biggest scandals in recent years have occurred in this industry. With the world economy still experiencing the effects of the global recession, the last thing that institutions in the financial arena must do is engage in unethical behaviour. Immoral behaviour could damage a company's repution and lead to further financial losses. The purpose of this study was thus two-fold: firstly, to investigae the factors that influence unethical decision-making and behaviour in the local life insurance sector, and secondly to evaluate how business ethics are institutionalised at a sample of life insurance companies.
- Full Text:
- Date Issued: 2010
- Authors: Van Greunen, Conrad
- Date: 2010
- Subjects: Insurance companies -- Corrupt pratices -- South Africa , Business ethics -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9282 , http://hdl.handle.net/10948/1364 , Insurance companies -- Corrupt pratices -- South Africa , Business ethics -- South Africa
- Description: The public is regularly shocked by revelations of new business scandals. Nearly every sector of society is tainted by incidents of unethical behaviour. In this regard, the South African financial services industry has attracted a lot of attention, as some of the biggest scandals in recent years have occurred in this industry. With the world economy still experiencing the effects of the global recession, the last thing that institutions in the financial arena must do is engage in unethical behaviour. Immoral behaviour could damage a company's repution and lead to further financial losses. The purpose of this study was thus two-fold: firstly, to investigae the factors that influence unethical decision-making and behaviour in the local life insurance sector, and secondly to evaluate how business ethics are institutionalised at a sample of life insurance companies.
- Full Text:
- Date Issued: 2010
Volatility and the risk return relationship on the South African equity market
- Authors: Mandimika, Neville
- Date: 2010
- Subjects: Stock exchanges , Financial risk -- South Africa , Saving and investment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1009 , http://hdl.handle.net/10962/d1002744 , Stock exchanges , Financial risk -- South Africa , Saving and investment -- South Africa
- Description: The volatility of stock markets has important implications for investment decision making, financial stability and overall macroeconomic stability. This study examines the risk-return relationship as well as the behaviour of volatility of the South African equity markets using both aggregate, industrial level and sector level data. The study is divided into three parts. The first part investigates the behaviour of volatility in each of the industries, sectors and the benchmark series focussing on whether volatility is symmetric or asymmetric. Subsequently we investigate which, among the GARCH family of models appropriately captured the riskreturn relationship under which distributional assumption. The second part examines the riskreturn relationship on the SA stock market. The third part examines the long term trend of volatility and whether volatility significantly increases during financial crises and during major global shocks. The GARCH-M, EGARCH-M and TARCH-M models under the Gaussian, Student –t and the GED are used. The findings this study makes are as follows: firstly, there is no clear relationship between risk and return. Secondly, volatility is asymmetrical, implying that bad news has a greater effect on volatility than good news in the South African equity market. Thirdly, the TARCH-M model under the GED was found to be the most appropriate model. Fourthly, volatility increases during financial crises and major global shocks. Overall, volatility is generally not priced on the South African equity markets. Thus, both local and international investors need to consider other factors that influence returns such as skewness. The general increase in volatility during financial crises and major global shocks poses a major concern for policy makers as this may cause financial instability. Thus policy makers need to be mindful of the behaviour of volatility in the South African equity market in response to external shocks.
- Full Text:
- Date Issued: 2010
- Authors: Mandimika, Neville
- Date: 2010
- Subjects: Stock exchanges , Financial risk -- South Africa , Saving and investment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1009 , http://hdl.handle.net/10962/d1002744 , Stock exchanges , Financial risk -- South Africa , Saving and investment -- South Africa
- Description: The volatility of stock markets has important implications for investment decision making, financial stability and overall macroeconomic stability. This study examines the risk-return relationship as well as the behaviour of volatility of the South African equity markets using both aggregate, industrial level and sector level data. The study is divided into three parts. The first part investigates the behaviour of volatility in each of the industries, sectors and the benchmark series focussing on whether volatility is symmetric or asymmetric. Subsequently we investigate which, among the GARCH family of models appropriately captured the riskreturn relationship under which distributional assumption. The second part examines the riskreturn relationship on the SA stock market. The third part examines the long term trend of volatility and whether volatility significantly increases during financial crises and during major global shocks. The GARCH-M, EGARCH-M and TARCH-M models under the Gaussian, Student –t and the GED are used. The findings this study makes are as follows: firstly, there is no clear relationship between risk and return. Secondly, volatility is asymmetrical, implying that bad news has a greater effect on volatility than good news in the South African equity market. Thirdly, the TARCH-M model under the GED was found to be the most appropriate model. Fourthly, volatility increases during financial crises and major global shocks. Overall, volatility is generally not priced on the South African equity markets. Thus, both local and international investors need to consider other factors that influence returns such as skewness. The general increase in volatility during financial crises and major global shocks poses a major concern for policy makers as this may cause financial instability. Thus policy makers need to be mindful of the behaviour of volatility in the South African equity market in response to external shocks.
- Full Text:
- Date Issued: 2010
A comparative analysis of the divisia index and the simple sum monetary aggregates for South Africa
- Authors: Moyo, Solomon Simbarashe
- Date: 2009
- Subjects: Monetary policy -- South Africa , Money supply -- South Africa , Inflation finance -- South Africa , Index numbers (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:945 , http://hdl.handle.net/10962/d1002679 , Monetary policy -- South Africa , Money supply -- South Africa , Inflation finance -- South Africa , Index numbers (Economics)
- Description: The effectiveness of monetary policy in achieving its macroeconomic objectives such as price stability and economic growth depend on the monetary policy tools that are implemented by the Central Bank. Monetary aggregates are one of the tools that have been used as indicators of economic activity and as intermediate targets to achieve these economic objectives. Until recently, monetary aggregates have been questioned and criticised on their usefulness in monetary policy. This has been attributed to the economic, financial and technological developments that have distorted the relationship between monetary aggregates and major macroeconomic variables. This study investigates the relevance of monetary aggregation by comparing the traditional simple sum and Divisia index monetary aggregates which was constructed for the first time for South Africa using the Tornquist-Theil method. The Polynomial Distributed Lag model is employed to compare the performance of these monetary aggregates using their relationship with inflation and manufacturing index. Furthermore, the aggregates are compared in terms of their controllability and information content. Overall, the study found a very strong relationship between inflation and all the monetary aggregates. However, more specifically the results suggested that the Divisia indices are superior to the simple sum in terms of predicting inflation. The evidence further suggests that the Divisia aggregates provide higher information about inflation than the simple sum aggregates. Regarding the controllability of the monetary aggregates, the findings suggest that the monetary authorities can hardly control the monetary aggregates using monetary base. Finally, the relationship between manufacturing index and all the monetary aggregates was very weak.
- Full Text:
- Date Issued: 2009
- Authors: Moyo, Solomon Simbarashe
- Date: 2009
- Subjects: Monetary policy -- South Africa , Money supply -- South Africa , Inflation finance -- South Africa , Index numbers (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:945 , http://hdl.handle.net/10962/d1002679 , Monetary policy -- South Africa , Money supply -- South Africa , Inflation finance -- South Africa , Index numbers (Economics)
- Description: The effectiveness of monetary policy in achieving its macroeconomic objectives such as price stability and economic growth depend on the monetary policy tools that are implemented by the Central Bank. Monetary aggregates are one of the tools that have been used as indicators of economic activity and as intermediate targets to achieve these economic objectives. Until recently, monetary aggregates have been questioned and criticised on their usefulness in monetary policy. This has been attributed to the economic, financial and technological developments that have distorted the relationship between monetary aggregates and major macroeconomic variables. This study investigates the relevance of monetary aggregation by comparing the traditional simple sum and Divisia index monetary aggregates which was constructed for the first time for South Africa using the Tornquist-Theil method. The Polynomial Distributed Lag model is employed to compare the performance of these monetary aggregates using their relationship with inflation and manufacturing index. Furthermore, the aggregates are compared in terms of their controllability and information content. Overall, the study found a very strong relationship between inflation and all the monetary aggregates. However, more specifically the results suggested that the Divisia indices are superior to the simple sum in terms of predicting inflation. The evidence further suggests that the Divisia aggregates provide higher information about inflation than the simple sum aggregates. Regarding the controllability of the monetary aggregates, the findings suggest that the monetary authorities can hardly control the monetary aggregates using monetary base. Finally, the relationship between manufacturing index and all the monetary aggregates was very weak.
- Full Text:
- Date Issued: 2009
A critical analysis of South Africa's general anti avoidance provisions in income tax legislation
- Authors: Haffejee, Yaasir
- Date: 2009
- Subjects: Tax evasion -- South Africa , Tax planning -- South Africa , Income tax -- Law and legislation -- South Africa , Rule of law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8956 , http://hdl.handle.net/10948/1243 , Tax evasion -- South Africa , Tax planning -- South Africa , Income tax -- Law and legislation -- South Africa , Rule of law -- South Africa
- Description: This treatise was undertaken to critically analyse the new general anti avoidance rules (new GAAR) as set out in sections 80A to 80L of the Income Tax Act1. A discussion on the difference between tax evasion and tax avoidance was performed in the first chapter. The goals of this treatise were then set out. An analysis of the requirements for the application of the new GAAR was performed in the second chapter. The courts have historically reviewed the circumstances surrounding an arrangement when determining whether tax avoidance has occurred. The new GAAR requires the individual steps of an arrangement to be reviewed in isolation. Secondly, the courts have historically held that the purpose test, when determining the taxpayer‘s purpose, was subjective. The wording of the new GAAR indicates that this test is now objective. Thirdly, the courts have historically viewed the abnormality of an arrangement based of the surrounding circumstances. The wording of the new GAAR requires an objective view of the arrangement. An analysis of the secondary provisions contained in sections 80I, 80B and 80J of the new GAAR was performed in the third chapter. With regards to section 80B, it was submitted that the Commissioner should issue an Interpretation Note detailing all the methods ―he deems appropriate.
- Full Text:
- Date Issued: 2009
- Authors: Haffejee, Yaasir
- Date: 2009
- Subjects: Tax evasion -- South Africa , Tax planning -- South Africa , Income tax -- Law and legislation -- South Africa , Rule of law -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8956 , http://hdl.handle.net/10948/1243 , Tax evasion -- South Africa , Tax planning -- South Africa , Income tax -- Law and legislation -- South Africa , Rule of law -- South Africa
- Description: This treatise was undertaken to critically analyse the new general anti avoidance rules (new GAAR) as set out in sections 80A to 80L of the Income Tax Act1. A discussion on the difference between tax evasion and tax avoidance was performed in the first chapter. The goals of this treatise were then set out. An analysis of the requirements for the application of the new GAAR was performed in the second chapter. The courts have historically reviewed the circumstances surrounding an arrangement when determining whether tax avoidance has occurred. The new GAAR requires the individual steps of an arrangement to be reviewed in isolation. Secondly, the courts have historically held that the purpose test, when determining the taxpayer‘s purpose, was subjective. The wording of the new GAAR indicates that this test is now objective. Thirdly, the courts have historically viewed the abnormality of an arrangement based of the surrounding circumstances. The wording of the new GAAR requires an objective view of the arrangement. An analysis of the secondary provisions contained in sections 80I, 80B and 80J of the new GAAR was performed in the third chapter. With regards to section 80B, it was submitted that the Commissioner should issue an Interpretation Note detailing all the methods ―he deems appropriate.
- Full Text:
- Date Issued: 2009
Adaptive interfaces for mobile preference-based searching
- Authors: Hill, Ryan Tebbutt
- Date: 2009
- Subjects: User interfaces (Computer systems) -- South Africa , Mobile computing -- South Africa , Global Positioning System , Global system for mobile communications -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9259 , http://hdl.handle.net/10948/1248 , User interfaces (Computer systems) -- South Africa , Mobile computing -- South Africa , Global Positioning System , Global system for mobile communications -- South Africa
- Description: Today's mobile computing devices provide a convenient means to search for points-of-interest (POIs) such as restaurants and accommodation. Mobile Preference-Based Search Tools (PBSTs) allow users to identify POIs such as restaurants or accommodation most suited to their needs and constraints using a mobile device. These devices however, have several design constraints including limited screen space and hardware capabilities. Adaptive User Interfaces (AUIs) have been proposed to address these issues but have not been extensively applied to mobile PBSTs such as mobile tourist guides. In addition, AUIs possess several benefits and advantages over static (traditional) interfaces, which do not take a user's preferences, skill set and experience into account. Little research, however, has been conducted into identifying the potential benefits of AUIs for mobile preference-based searching (PBS). The aim of this research was to determine the extent to which an AUI could improve the effectiveness and user satisfaction of mobile PBS. A literature study was conducted to determine the benefits and limitations of existing mobile PBSTs and determine how these could be improved. The potential benefits of AUIs for mobile PBSTs and a mobile map-based visualisation system were identified. A suitable model for incorporating an AUI into a mobile PBST was identified. The requirements for a mobile PBST were combined with the potentially adaptable objects of a Mobile Map-based Visualisation (MMV) system to provide adaptation suggestions for POInter, an existing mobile tourist guide. A field study using POInter was conducted in order to measure the extent to which participants agreed with suggestions provided for adapting the information, interaction and visualisation aspects of the system. These results were used to derive adaptation requirements for A-POInter, an adaptive version of POInter. Using a model-based design approach, an AUI was designed and implemented for A-POInter. An extensive field study was then conducted to evaluate the usability of the adaptations provided by A-POInter. The quantitative and qualitative data collected from the evaluations allowed the usability of A-POInter to be determined. The results of the field study showed that the participants were highly satisfied with the usability and the usefulness of the adaptations provided by A-POInter. Conclusions and recommendations for future work based on the results of the research were then outlined to conclude the dissertation.
- Full Text:
- Date Issued: 2009
- Authors: Hill, Ryan Tebbutt
- Date: 2009
- Subjects: User interfaces (Computer systems) -- South Africa , Mobile computing -- South Africa , Global Positioning System , Global system for mobile communications -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9259 , http://hdl.handle.net/10948/1248 , User interfaces (Computer systems) -- South Africa , Mobile computing -- South Africa , Global Positioning System , Global system for mobile communications -- South Africa
- Description: Today's mobile computing devices provide a convenient means to search for points-of-interest (POIs) such as restaurants and accommodation. Mobile Preference-Based Search Tools (PBSTs) allow users to identify POIs such as restaurants or accommodation most suited to their needs and constraints using a mobile device. These devices however, have several design constraints including limited screen space and hardware capabilities. Adaptive User Interfaces (AUIs) have been proposed to address these issues but have not been extensively applied to mobile PBSTs such as mobile tourist guides. In addition, AUIs possess several benefits and advantages over static (traditional) interfaces, which do not take a user's preferences, skill set and experience into account. Little research, however, has been conducted into identifying the potential benefits of AUIs for mobile preference-based searching (PBS). The aim of this research was to determine the extent to which an AUI could improve the effectiveness and user satisfaction of mobile PBS. A literature study was conducted to determine the benefits and limitations of existing mobile PBSTs and determine how these could be improved. The potential benefits of AUIs for mobile PBSTs and a mobile map-based visualisation system were identified. A suitable model for incorporating an AUI into a mobile PBST was identified. The requirements for a mobile PBST were combined with the potentially adaptable objects of a Mobile Map-based Visualisation (MMV) system to provide adaptation suggestions for POInter, an existing mobile tourist guide. A field study using POInter was conducted in order to measure the extent to which participants agreed with suggestions provided for adapting the information, interaction and visualisation aspects of the system. These results were used to derive adaptation requirements for A-POInter, an adaptive version of POInter. Using a model-based design approach, an AUI was designed and implemented for A-POInter. An extensive field study was then conducted to evaluate the usability of the adaptations provided by A-POInter. The quantitative and qualitative data collected from the evaluations allowed the usability of A-POInter to be determined. The results of the field study showed that the participants were highly satisfied with the usability and the usefulness of the adaptations provided by A-POInter. Conclusions and recommendations for future work based on the results of the research were then outlined to conclude the dissertation.
- Full Text:
- Date Issued: 2009
An analysis of the money market linkages between South Africa and selected major world economies
- Authors: Barnor, Joel A
- Date: 2009
- Subjects: South African Reserve Bank , Banks and banking, Central -- South Africa , Money market -- South Africa , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , International economic relations , Interest rates -- South Africa , Financial institutions -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:956 , http://hdl.handle.net/10962/d1002690 , South African Reserve Bank , Banks and banking, Central -- South Africa , Money market -- South Africa , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , International economic relations , Interest rates -- South Africa , Financial institutions -- South Africa
- Description: Globalisation and financial liberalisation has increased the linkages across countries in recent times. The existence of money market links has important implications for both domestic monetary policy and for investment decisions. This study examines the linkages between South Africa’s money market and selected major international money markets. The objectives of the study are firstly to examine the links between the repo rate of South Africa and the central bank rates of the EU, Japan, UK and US. Secondly, is to compare the influence of domestic and foreign monetary policy decisions on South Africa’s money market. The third objective is to examine the long run relationship between the South African money market and the money markets of its major trading partners. Three estimation techniques are used to examine the different links. Principal components analysis, four tests of cointegration, and stationarity tests of the spreads/risk premium between South Africa’s interest rates and the interest rates of the other countries. All three techniques show that there is no long-run link between South Africa’s central bank rates and the central bank rates of the other countries. This shows that the repo rate does not depend on movements in other central bank rates. Domestic money market interest rates respond strongly to changes in the repo rate whilst showing no dependence on central bank rates of the other countries. This confirms the autonomy of the South African Reserve Bank in carrying out policy objectives. When the risk premium is accounted for under the third technique, evidence of integration is found. This indicates that the risk premium plays a crucial part in the level of integration between South Africa and the countries included in the study.
- Full Text:
- Date Issued: 2009
- Authors: Barnor, Joel A
- Date: 2009
- Subjects: South African Reserve Bank , Banks and banking, Central -- South Africa , Money market -- South Africa , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , International economic relations , Interest rates -- South Africa , Financial institutions -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:956 , http://hdl.handle.net/10962/d1002690 , South African Reserve Bank , Banks and banking, Central -- South Africa , Money market -- South Africa , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , International economic relations , Interest rates -- South Africa , Financial institutions -- South Africa
- Description: Globalisation and financial liberalisation has increased the linkages across countries in recent times. The existence of money market links has important implications for both domestic monetary policy and for investment decisions. This study examines the linkages between South Africa’s money market and selected major international money markets. The objectives of the study are firstly to examine the links between the repo rate of South Africa and the central bank rates of the EU, Japan, UK and US. Secondly, is to compare the influence of domestic and foreign monetary policy decisions on South Africa’s money market. The third objective is to examine the long run relationship between the South African money market and the money markets of its major trading partners. Three estimation techniques are used to examine the different links. Principal components analysis, four tests of cointegration, and stationarity tests of the spreads/risk premium between South Africa’s interest rates and the interest rates of the other countries. All three techniques show that there is no long-run link between South Africa’s central bank rates and the central bank rates of the other countries. This shows that the repo rate does not depend on movements in other central bank rates. Domestic money market interest rates respond strongly to changes in the repo rate whilst showing no dependence on central bank rates of the other countries. This confirms the autonomy of the South African Reserve Bank in carrying out policy objectives. When the risk premium is accounted for under the third technique, evidence of integration is found. This indicates that the risk premium plays a crucial part in the level of integration between South Africa and the countries included in the study.
- Full Text:
- Date Issued: 2009
An investigation of social computing
- Authors: Schlenkrich, Lara
- Date: 2009
- Subjects: Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1149 , http://hdl.handle.net/10962/d1006194 , Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Description: Social network sites have recently become extremely popular online destinations as they offer users easy ways to build and maintain their relationships with each other. Consequently, students, lecturers, teachers, parents and businesses are using these tools to communicate with each other in a fast and cost-effective manner. However, literature suggests that the full potential of social network sites has not yet been revealed since users are still battling to overcome the various negative characteristics surrounding these sites. A framework for appropriate use of these sites is needed so that users are able to overcome these negative aspects, allowing them to be more effective and use the sites successfully. The goal of this research is to construct a framework for perceived successful use of social computing tools in educational institutions. This framework will include critical success factors that need to be adopted by users in order to develop the positive aspects of social computing, while at the same time overcoming the disadvantages experienced by users. Factors for successful use were derived from the literature and consolidated into a theoretical framework in order to understand the factors that drive successful use of social network sites. Measures used to test successful use of social network sites were also derived from these sources and were included in the same theoretical framework; these measures allow users to evaluate the extent of perceived successful use of social network sites. This framework was tested empirically by means of a pilot study and online survey, and revised according to the results of the survey. The factors were identified using Cronbach alpha coefficients (in the pilot study) and exploratory factor analysis to confirm the reliability of the scales developed. Pearson product-moment correlation coefficient analysis, t-tests and Pearson Chi-Square tests were used to measure the relationships amongst the variables in the framework proposed in this research. The factors influencing perceived successful use of social network sites were identified by the empirical study as: • Privacy and Security Settings need to be enabled. These are split into: - Settings: content that users allow others to see - Viewers: people who are allowed onto a user's profile • It is necessary for users to practise Legal and Acceptable Activities when using social network sites • Suspect Information needs to be checked before sharing it with others • Personal and Professional Time needs to be separated to ensure that work is completed before social activities occur • Users need to practise Professional and Ethical Behaviour • Users need to have a Positive Attitude when using social network sites • Usability of sites affects their success. This includes: - technical capacity (broadband) - ease of use - functionality (range of features and functions) • Current and Controversial Issues need to be discussed on social network sites. The extent to which social network sites are being used successfully can be evaluated by the presence of the following measures: • Range of Content must be available to users. This includes: - Content displayed on profiles - Viewers able to visit profiles • Visitors Behaviour is monitored and no unwanted visitors are present users' profiles • Social Contracts found on sites are followed by users • Critical Thinking Skills and Accurate Information are displayed by users • Work is completed before social activities occur on sites • A Variety of Users is present on sites • Collaboration between people as well as variety of opinions exist on sites • Social Capital (well-being) is present after users have been on sites • Learning and Advising Skills are enhanced on sites. The framework developed provides users with a useful instrument to overcome the negative characteristics associated with social network sites. If used successfully, social network sites can offer lecturers and students a unique method to develop their relationship, creating a positive learning experience.
- Full Text:
- Date Issued: 2009
- Authors: Schlenkrich, Lara
- Date: 2009
- Subjects: Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1149 , http://hdl.handle.net/10962/d1006194 , Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Description: Social network sites have recently become extremely popular online destinations as they offer users easy ways to build and maintain their relationships with each other. Consequently, students, lecturers, teachers, parents and businesses are using these tools to communicate with each other in a fast and cost-effective manner. However, literature suggests that the full potential of social network sites has not yet been revealed since users are still battling to overcome the various negative characteristics surrounding these sites. A framework for appropriate use of these sites is needed so that users are able to overcome these negative aspects, allowing them to be more effective and use the sites successfully. The goal of this research is to construct a framework for perceived successful use of social computing tools in educational institutions. This framework will include critical success factors that need to be adopted by users in order to develop the positive aspects of social computing, while at the same time overcoming the disadvantages experienced by users. Factors for successful use were derived from the literature and consolidated into a theoretical framework in order to understand the factors that drive successful use of social network sites. Measures used to test successful use of social network sites were also derived from these sources and were included in the same theoretical framework; these measures allow users to evaluate the extent of perceived successful use of social network sites. This framework was tested empirically by means of a pilot study and online survey, and revised according to the results of the survey. The factors were identified using Cronbach alpha coefficients (in the pilot study) and exploratory factor analysis to confirm the reliability of the scales developed. Pearson product-moment correlation coefficient analysis, t-tests and Pearson Chi-Square tests were used to measure the relationships amongst the variables in the framework proposed in this research. The factors influencing perceived successful use of social network sites were identified by the empirical study as: • Privacy and Security Settings need to be enabled. These are split into: - Settings: content that users allow others to see - Viewers: people who are allowed onto a user's profile • It is necessary for users to practise Legal and Acceptable Activities when using social network sites • Suspect Information needs to be checked before sharing it with others • Personal and Professional Time needs to be separated to ensure that work is completed before social activities occur • Users need to practise Professional and Ethical Behaviour • Users need to have a Positive Attitude when using social network sites • Usability of sites affects their success. This includes: - technical capacity (broadband) - ease of use - functionality (range of features and functions) • Current and Controversial Issues need to be discussed on social network sites. The extent to which social network sites are being used successfully can be evaluated by the presence of the following measures: • Range of Content must be available to users. This includes: - Content displayed on profiles - Viewers able to visit profiles • Visitors Behaviour is monitored and no unwanted visitors are present users' profiles • Social Contracts found on sites are followed by users • Critical Thinking Skills and Accurate Information are displayed by users • Work is completed before social activities occur on sites • A Variety of Users is present on sites • Collaboration between people as well as variety of opinions exist on sites • Social Capital (well-being) is present after users have been on sites • Learning and Advising Skills are enhanced on sites. The framework developed provides users with a useful instrument to overcome the negative characteristics associated with social network sites. If used successfully, social network sites can offer lecturers and students a unique method to develop their relationship, creating a positive learning experience.
- Full Text:
- Date Issued: 2009
Attitudes and perceptions towards TB in Grahamstown East in a time of HIV/AIDS
- Authors: Ndoro, Tinashe T. R
- Date: 2009
- Subjects: Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3030 , http://hdl.handle.net/10962/d1002539 , Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Description: Tuberculosis (TB) has become a serious South African health problem because it is the most common opportunistic disease that leads to death in people with HIV/AIDS. Due to the airborne nature of the disease it can easily be spread to anyone including healthy people. A lack of compliance to treatment by TB patients explains why prevalence rates of the disease are high and why there is an emergence of drug resistant strains such as XDR-TB and MDR-TB. Information on existing knowledge, attitudes and perceptions regarding TB can provide a crucial foundation for the development of educational programmes and interventions aimed at reducing the further spread of the disease. This study aimed at understanding the knowledge, attitudes and perceptions towards TB and relating these to the current prevalence of HIV/AIDS. A face-to-face interview survey was conducted among adult Grahamstown East residents (n=1020). The Health Belief Model (Rosenstock et al., 1994) and Bandura’s (1986) Social Cognitive Theory formed the theoretical framework of the data collection and analysis. The data generated from the field work was first descriptively analysed providing frequency tables. Thereafter cross tabulations were calculated for relevant items using independent variables, namely gender, level of education, and experience of dealing with TB. The results of the study show that, in general, knowledge concerning TB was sufficient to provide a foundation for the adoption of healthier behaviours in the female respondents. Few of the respondents reported feeling personally susceptible although the majority of the respondents acknowledged the severity of the disease. The cues to action lacked the influence to persuade people to adopt positive health related behaviours. The perceived benefits of adopting preventative behaviour were not very influential in the adoption of healthier behavioural changes in the respondents. Disease stigma regarding the dual association of TB and HIV/AIDS was the main barrier for the adoption of healthier behavioural attitudes. Perceived self-efficacy in preventative behaviours was generally low in the less educated respondents. Recommendations regarding areas for future research and change interventions are provided.
- Full Text:
- Date Issued: 2009
- Authors: Ndoro, Tinashe T. R
- Date: 2009
- Subjects: Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3030 , http://hdl.handle.net/10962/d1002539 , Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Description: Tuberculosis (TB) has become a serious South African health problem because it is the most common opportunistic disease that leads to death in people with HIV/AIDS. Due to the airborne nature of the disease it can easily be spread to anyone including healthy people. A lack of compliance to treatment by TB patients explains why prevalence rates of the disease are high and why there is an emergence of drug resistant strains such as XDR-TB and MDR-TB. Information on existing knowledge, attitudes and perceptions regarding TB can provide a crucial foundation for the development of educational programmes and interventions aimed at reducing the further spread of the disease. This study aimed at understanding the knowledge, attitudes and perceptions towards TB and relating these to the current prevalence of HIV/AIDS. A face-to-face interview survey was conducted among adult Grahamstown East residents (n=1020). The Health Belief Model (Rosenstock et al., 1994) and Bandura’s (1986) Social Cognitive Theory formed the theoretical framework of the data collection and analysis. The data generated from the field work was first descriptively analysed providing frequency tables. Thereafter cross tabulations were calculated for relevant items using independent variables, namely gender, level of education, and experience of dealing with TB. The results of the study show that, in general, knowledge concerning TB was sufficient to provide a foundation for the adoption of healthier behaviours in the female respondents. Few of the respondents reported feeling personally susceptible although the majority of the respondents acknowledged the severity of the disease. The cues to action lacked the influence to persuade people to adopt positive health related behaviours. The perceived benefits of adopting preventative behaviour were not very influential in the adoption of healthier behavioural changes in the respondents. Disease stigma regarding the dual association of TB and HIV/AIDS was the main barrier for the adoption of healthier behavioural attitudes. Perceived self-efficacy in preventative behaviours was generally low in the less educated respondents. Recommendations regarding areas for future research and change interventions are provided.
- Full Text:
- Date Issued: 2009
Bank credit extension to the private sector and inflation in South Africa
- Authors: Dlamini, Samuel Nkosinathi
- Date: 2009
- Subjects: Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:959 , http://hdl.handle.net/10962/d1002693 , Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Description: This study investigates the contribution of bank credit extension to the private sector to inflation in South Africa, covering the period 1970:1-2006:4. The long-run impact of bank credit on inflation is investigated by means of the Johansen co integration model. The short-run ynamics of the inflation is subsequently modelled by means of the Vector Error Correction Model (VECM). Using the Johansen methodology, the study identifies two co integrating equations linking inflation and its eterminants. The results suggest that the long-run relationship between inflation and bank credit to the private sector is negative and statistically significant at 10% level. The determinants that are significant at 5% level are: money supply, real gross domestic product, the money market rate, rand/dollar exchange rate and imports. The results are consistent with previous findings. The speed of adjustment in response to deviation from the equilibrium path was found to be negative at 10.56% per quarter, which is consistent with findings by Ohnsorge and Oomes (2003) for Russia. Both the signs and the magnitude of the coefficients suggest that the co integrating vector describes a long-run inflation equation. The impulse response functions confirm the theoretical expectations except for the import prices. The most persistent and significant shocks observed are on impulse response functions of money supply and bank credit to the private sector. The variance decomposition results also suggest that inflation responds quicker to innovations from money supply and the money market rate. The overall results provide evidence that the surge in inflation is associated with an increase in money supply as well as the instability in exchange rate. The effects of exchange rate fluctuation on inflation are reflected through changes in import prices. Based on the results we conclude that an increase in bank credit during the period 1970:1-2006:4 had a negative mpact on inflation in South Africa.
- Full Text:
- Date Issued: 2009
- Authors: Dlamini, Samuel Nkosinathi
- Date: 2009
- Subjects: Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:959 , http://hdl.handle.net/10962/d1002693 , Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Description: This study investigates the contribution of bank credit extension to the private sector to inflation in South Africa, covering the period 1970:1-2006:4. The long-run impact of bank credit on inflation is investigated by means of the Johansen co integration model. The short-run ynamics of the inflation is subsequently modelled by means of the Vector Error Correction Model (VECM). Using the Johansen methodology, the study identifies two co integrating equations linking inflation and its eterminants. The results suggest that the long-run relationship between inflation and bank credit to the private sector is negative and statistically significant at 10% level. The determinants that are significant at 5% level are: money supply, real gross domestic product, the money market rate, rand/dollar exchange rate and imports. The results are consistent with previous findings. The speed of adjustment in response to deviation from the equilibrium path was found to be negative at 10.56% per quarter, which is consistent with findings by Ohnsorge and Oomes (2003) for Russia. Both the signs and the magnitude of the coefficients suggest that the co integrating vector describes a long-run inflation equation. The impulse response functions confirm the theoretical expectations except for the import prices. The most persistent and significant shocks observed are on impulse response functions of money supply and bank credit to the private sector. The variance decomposition results also suggest that inflation responds quicker to innovations from money supply and the money market rate. The overall results provide evidence that the surge in inflation is associated with an increase in money supply as well as the instability in exchange rate. The effects of exchange rate fluctuation on inflation are reflected through changes in import prices. Based on the results we conclude that an increase in bank credit during the period 1970:1-2006:4 had a negative mpact on inflation in South Africa.
- Full Text:
- Date Issued: 2009