The retirement funding adequacy of black South Africans
- Authors: Zeka, Bomikazi
- Date: 2017
- Subjects: Retirement income -- South Africa -- Case studies South Africa -- Finance Finance, Personal
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13338 , vital:27176
- Description: Despite the importance of retirement planning, many South Africans have been documented as reaching retirement age without adequate retirement funding. A vast amount of research has been conducted on how proper retirement planning can be beneficial for individuals; however, there has been a lack of attention given to researching the retirement planning of black individuals in South Africa. Thus, the primary objective of this study was to identify, investigate and empirically test which factors influence retirement planning, and which aspects of retirement planning influence the retirement funding adequacy of black individuals. After a comprehensive literature review was undertaken on the factors influencing the retirement planning and retirement funding adequacy of individuals, the following independent variables were identified as influencing the mediating variable (Aspects of retirement planning) and the dependent variable (Retirement funding adequacy) in this study: • Financial literacy; • The role of the financial planner; • Family support structure; and • Health status. These independent variables were selected to construct a hypothesised model and research hypotheses, as they have been identified as the prominent factors that influence the retirement planning of black South Africans. Furthermore, these independent variables were used in determining whether they have an influence on the Aspects of retirement planning (incorporating Retirement provisions, Retirement attitudes and Retirement intentions) and, ultimately, improve the Retirement funding adequacy of individuals. In order to establish the influence of the aspects of retirement planning on the retirement funding adequacy of individuals, an empirical investigation was undertaken. A measuring instrument, in the form of a questionnaire, was compiled from secondary literature sources. The respondents were identified though a mixed sampling approach, whereby stratified sampling and convenience sampling were used to attain 441 usable questionnaires that were subjected to statistical analyses. Descriptive statistics, in the form of frequency distributions, were used to summarise Section A and Section B of the measuring instrument. The validity and reliability of the measuring instrument were confirmed by means of exploratory factor analyses (EFA), and Cronbach’s alpha coefficients were also calculated for this purpose. As a result of conducting the EFA, two independent variables (Family support structure and Health status) loaded together, and the factor was renamed accordingly. From the EFA, the independent variables that emerged were The role of the financial planner, Family, health, and financial well-being, and Financial literacy. Furthermore, the EFA revealed that three mediating variables emerged from the mediating variable Aspects of retirement planning. These three mediating variables were consequently named Retirement intentions, Retirement attitudes, and Retirement provisions. There were no eliminated variables in this study. Based on the results of the EFA, some of the definitions of the variables were adapted. Consequently, the hypothesised model and its research hypotheses were adapted to reflect the results of the EFA. The results of the Cronbach’s alphas calculated reported that all the measuring scales used in the questionnaire of the study were reliable. Furthermore, descriptive statistics were also calculated to summarise the sample data, and Pearson’s product moment correlations were calculated to establish the correlations between all the variables used in this study. A multiple regression analysis was used to investigate the influence of the various independent variables on the mediating variables and the dependent variable. Furthermore, structural equation modelling (SEM) was used as the main statistical procedure to test for mediation in the study. SEM was also used to assess and confirm the results of the multiple regression analyses. Based on the results of the multiple regression analyses and SEM, the hypothesised relationships of the study were accepted or rejected. Additionally, the results of SEM revealed that the revised model of the study displayed acceptable model fit. To conclude the empirical investigation, t-tests and an analysis of variance (ANOVA) tests were performed to assess whether the respondents’ perceptions of the variables used in the study differed as a result of the respondents’ demographic information. Furthermore, to establish significant differences between individual mean scores, post-hoc Tukey tests were calculated, and practical significance was assessed by calculating Cohen’s d values. The main empirical results of the study found that statistically significant relationships exist between the independent variables The role of the financial planner and Family, health, and financial well-being, and the mediating variable Retirement intentions. Furthermore, a significant relationship was found between the independent variable Financial literacy and the mediating variable Retirement attitudes. Other significant relationships were present between all the independent variables The role of the financial planner, Family, health, and financial well-being and Financial literacy, and the mediating variable Retirement provisions. The study also established statistically significant relationships between the mediating variables Retirement attitudes and Retirement provisions and the dependent variable Retirement funding adequacy. Statistically significant relationships were also present between the independent variables Family, health, and financial well-being and Financial literacy and the dependent variable Retirement funding adequacy. This study has added to the limited amount of academic literature in the field of retirement planning in South Africa. Through the hypothesised model developed in this study, a significant contribution has been made towards investigating the factors that influence the retirement planning and retirement funding adequacy of black individuals residing in South Africa. This study presents recommendations to black individuals on practical strategies that could help to improve their retirement planning and retirement funding adequacy. Furthermore, suggestions are presented to financial planners and financial institutions, in order to assist black individuals or potential clients to improve their retirement planning and to help ensure that individuals are financially independent when they reach retirement age. It is recommended that financial institutions provide financial products/services that will cater to black South Africans.
- Full Text:
- Date Issued: 2017
- Authors: Zeka, Bomikazi
- Date: 2017
- Subjects: Retirement income -- South Africa -- Case studies South Africa -- Finance Finance, Personal
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13338 , vital:27176
- Description: Despite the importance of retirement planning, many South Africans have been documented as reaching retirement age without adequate retirement funding. A vast amount of research has been conducted on how proper retirement planning can be beneficial for individuals; however, there has been a lack of attention given to researching the retirement planning of black individuals in South Africa. Thus, the primary objective of this study was to identify, investigate and empirically test which factors influence retirement planning, and which aspects of retirement planning influence the retirement funding adequacy of black individuals. After a comprehensive literature review was undertaken on the factors influencing the retirement planning and retirement funding adequacy of individuals, the following independent variables were identified as influencing the mediating variable (Aspects of retirement planning) and the dependent variable (Retirement funding adequacy) in this study: • Financial literacy; • The role of the financial planner; • Family support structure; and • Health status. These independent variables were selected to construct a hypothesised model and research hypotheses, as they have been identified as the prominent factors that influence the retirement planning of black South Africans. Furthermore, these independent variables were used in determining whether they have an influence on the Aspects of retirement planning (incorporating Retirement provisions, Retirement attitudes and Retirement intentions) and, ultimately, improve the Retirement funding adequacy of individuals. In order to establish the influence of the aspects of retirement planning on the retirement funding adequacy of individuals, an empirical investigation was undertaken. A measuring instrument, in the form of a questionnaire, was compiled from secondary literature sources. The respondents were identified though a mixed sampling approach, whereby stratified sampling and convenience sampling were used to attain 441 usable questionnaires that were subjected to statistical analyses. Descriptive statistics, in the form of frequency distributions, were used to summarise Section A and Section B of the measuring instrument. The validity and reliability of the measuring instrument were confirmed by means of exploratory factor analyses (EFA), and Cronbach’s alpha coefficients were also calculated for this purpose. As a result of conducting the EFA, two independent variables (Family support structure and Health status) loaded together, and the factor was renamed accordingly. From the EFA, the independent variables that emerged were The role of the financial planner, Family, health, and financial well-being, and Financial literacy. Furthermore, the EFA revealed that three mediating variables emerged from the mediating variable Aspects of retirement planning. These three mediating variables were consequently named Retirement intentions, Retirement attitudes, and Retirement provisions. There were no eliminated variables in this study. Based on the results of the EFA, some of the definitions of the variables were adapted. Consequently, the hypothesised model and its research hypotheses were adapted to reflect the results of the EFA. The results of the Cronbach’s alphas calculated reported that all the measuring scales used in the questionnaire of the study were reliable. Furthermore, descriptive statistics were also calculated to summarise the sample data, and Pearson’s product moment correlations were calculated to establish the correlations between all the variables used in this study. A multiple regression analysis was used to investigate the influence of the various independent variables on the mediating variables and the dependent variable. Furthermore, structural equation modelling (SEM) was used as the main statistical procedure to test for mediation in the study. SEM was also used to assess and confirm the results of the multiple regression analyses. Based on the results of the multiple regression analyses and SEM, the hypothesised relationships of the study were accepted or rejected. Additionally, the results of SEM revealed that the revised model of the study displayed acceptable model fit. To conclude the empirical investigation, t-tests and an analysis of variance (ANOVA) tests were performed to assess whether the respondents’ perceptions of the variables used in the study differed as a result of the respondents’ demographic information. Furthermore, to establish significant differences between individual mean scores, post-hoc Tukey tests were calculated, and practical significance was assessed by calculating Cohen’s d values. The main empirical results of the study found that statistically significant relationships exist between the independent variables The role of the financial planner and Family, health, and financial well-being, and the mediating variable Retirement intentions. Furthermore, a significant relationship was found between the independent variable Financial literacy and the mediating variable Retirement attitudes. Other significant relationships were present between all the independent variables The role of the financial planner, Family, health, and financial well-being and Financial literacy, and the mediating variable Retirement provisions. The study also established statistically significant relationships between the mediating variables Retirement attitudes and Retirement provisions and the dependent variable Retirement funding adequacy. Statistically significant relationships were also present between the independent variables Family, health, and financial well-being and Financial literacy and the dependent variable Retirement funding adequacy. This study has added to the limited amount of academic literature in the field of retirement planning in South Africa. Through the hypothesised model developed in this study, a significant contribution has been made towards investigating the factors that influence the retirement planning and retirement funding adequacy of black individuals residing in South Africa. This study presents recommendations to black individuals on practical strategies that could help to improve their retirement planning and retirement funding adequacy. Furthermore, suggestions are presented to financial planners and financial institutions, in order to assist black individuals or potential clients to improve their retirement planning and to help ensure that individuals are financially independent when they reach retirement age. It is recommended that financial institutions provide financial products/services that will cater to black South Africans.
- Full Text:
- Date Issued: 2017
The influence of business social responsibility on the brand image and business performance of small and medium-sized enterprises
- Authors: Zeka, Bomikazi
- Date: 2013
- Subjects: Business names
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9056 , http://hdl.handle.net/10948/d1007753 , Business names
- Description: Given the importance of the contribution of small and medium-sized enterprises (SMEs) in national and international economies, there is a lack of research attention given to the role that social responsibility can play in the success of SMEs. A vast amount of research has been conducted on how social responsibility can be beneficial to larger and more established enterprises; however, the benefits that can accrue to SMEs and their different stakeholder groups is less evident. Thus, the primary objective of this study is to investigate the influence of business social responsibility (BSR) on the brand image and business performance of SMEs. After a comprehensive literature review was undertaken on SMEs in South Africa, as well as the concept BSR and its various dimensions, the following independent variables were identified as possibly influencing the intervening variable (Brand Image) and the dependent variable (Business Performance) in this study: • Diversity • Environmental Awareness • Community Development • Stakeholder Relations These independent variables were selected to construct a hypothetical model and research hypotheses, as they are the four most commonly recognised BSR initiatives in which SMEs can engage. These independent variables were used in determining whether BSR could possible lead to a positive brand image and ultimately, an increased business performance for SMEs. In order to establish the influence of BSR on the brand image and business performance of SMEs, an empirical investigation was undertaken. A measuring instrument, in the form of a questionnaire, was compiled from secondary literature sources. The respondents were identified through the convenience sampling technique and the 200 usable questionnaires gathered from the respondents, were subjected to statistical analyses. The validity and reliability of the measuring instrument was confirmed by means of an exploratory factor analysis (EFA) and the calculation of Cronbach‟s alpha coefficients. As a result of conducting EFAs, some definitions of the variables were adapted. However, none of the variables used in the study were eliminated, nor did additional variables occur following the EFAs. Consequently, the hypothetical model and its research hypotheses remained the same. During the data analyses, descriptive statistics were calculated to summarise the sample data and Pearson‟s Product Moment Correlations were calculated to establish the correlations between the variables used in this study. The primary statistical procedure used to test the significance of the relationships hypothesised between the independent, intervening and dependent variables in this study, was the multiple linear regression analysis. To conclude the empirical investigation, a t-test and Analysis of Variance (ANOVA) tests were performed to assess the influence of demographic variables on respondents‟ perceptions regarding the independent, intervening and dependent variables used in the study. Furthermore, to establish significant differences between individual mean scores, post-hoc Sheffé tests were calculated, and practical significance was assessed by calculating Cohen‟s d values. The main empirical findings showed that there is a significant relationship found between the independent variables, Environmental Awareness, Community Development and Stakeholder Relations, with the intervening variable Brand Image and the dependent variable Business Performance. The empirical investigation showed that younger respondents had a more positive perception of Brand Image than older respondents, along with respondents who held the position of manager in the enterprise. The study also revealed that the more work experience the respondent had, the less optimistic they were about Brand Image. Furthermore, enterprises that have been in existence for a fewer amount of years than their older counterparts, considered Brand Image to be more important. Therefore, there is a distinction that can be made that younger respondents and younger enterprises had a more positive perception of brand image than older respondents and enterprises that have been in existence for a longer period of time. This study has added to the limited amount of literature on BSR in the field of SMEs. Through the hypothetical model developed in this study, a significant contribution has been made towards understanding the BSR factors influencing the success of SMEs. As a result, this study presents recommendations and suggestions to assist SME owners/managers who engage in social responsibility to continue to make positive contributions for the welfare of their stakeholders and the community at large and also to encourage SME owners/managers who do not engage in BSR to consider the various benefits that can accrue to their stakeholders and the enterprise itself, as this may ultimately enhance the business performance of their SMEs.
- Full Text:
- Date Issued: 2013
- Authors: Zeka, Bomikazi
- Date: 2013
- Subjects: Business names
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9056 , http://hdl.handle.net/10948/d1007753 , Business names
- Description: Given the importance of the contribution of small and medium-sized enterprises (SMEs) in national and international economies, there is a lack of research attention given to the role that social responsibility can play in the success of SMEs. A vast amount of research has been conducted on how social responsibility can be beneficial to larger and more established enterprises; however, the benefits that can accrue to SMEs and their different stakeholder groups is less evident. Thus, the primary objective of this study is to investigate the influence of business social responsibility (BSR) on the brand image and business performance of SMEs. After a comprehensive literature review was undertaken on SMEs in South Africa, as well as the concept BSR and its various dimensions, the following independent variables were identified as possibly influencing the intervening variable (Brand Image) and the dependent variable (Business Performance) in this study: • Diversity • Environmental Awareness • Community Development • Stakeholder Relations These independent variables were selected to construct a hypothetical model and research hypotheses, as they are the four most commonly recognised BSR initiatives in which SMEs can engage. These independent variables were used in determining whether BSR could possible lead to a positive brand image and ultimately, an increased business performance for SMEs. In order to establish the influence of BSR on the brand image and business performance of SMEs, an empirical investigation was undertaken. A measuring instrument, in the form of a questionnaire, was compiled from secondary literature sources. The respondents were identified through the convenience sampling technique and the 200 usable questionnaires gathered from the respondents, were subjected to statistical analyses. The validity and reliability of the measuring instrument was confirmed by means of an exploratory factor analysis (EFA) and the calculation of Cronbach‟s alpha coefficients. As a result of conducting EFAs, some definitions of the variables were adapted. However, none of the variables used in the study were eliminated, nor did additional variables occur following the EFAs. Consequently, the hypothetical model and its research hypotheses remained the same. During the data analyses, descriptive statistics were calculated to summarise the sample data and Pearson‟s Product Moment Correlations were calculated to establish the correlations between the variables used in this study. The primary statistical procedure used to test the significance of the relationships hypothesised between the independent, intervening and dependent variables in this study, was the multiple linear regression analysis. To conclude the empirical investigation, a t-test and Analysis of Variance (ANOVA) tests were performed to assess the influence of demographic variables on respondents‟ perceptions regarding the independent, intervening and dependent variables used in the study. Furthermore, to establish significant differences between individual mean scores, post-hoc Sheffé tests were calculated, and practical significance was assessed by calculating Cohen‟s d values. The main empirical findings showed that there is a significant relationship found between the independent variables, Environmental Awareness, Community Development and Stakeholder Relations, with the intervening variable Brand Image and the dependent variable Business Performance. The empirical investigation showed that younger respondents had a more positive perception of Brand Image than older respondents, along with respondents who held the position of manager in the enterprise. The study also revealed that the more work experience the respondent had, the less optimistic they were about Brand Image. Furthermore, enterprises that have been in existence for a fewer amount of years than their older counterparts, considered Brand Image to be more important. Therefore, there is a distinction that can be made that younger respondents and younger enterprises had a more positive perception of brand image than older respondents and enterprises that have been in existence for a longer period of time. This study has added to the limited amount of literature on BSR in the field of SMEs. Through the hypothetical model developed in this study, a significant contribution has been made towards understanding the BSR factors influencing the success of SMEs. As a result, this study presents recommendations and suggestions to assist SME owners/managers who engage in social responsibility to continue to make positive contributions for the welfare of their stakeholders and the community at large and also to encourage SME owners/managers who do not engage in BSR to consider the various benefits that can accrue to their stakeholders and the enterprise itself, as this may ultimately enhance the business performance of their SMEs.
- Full Text:
- Date Issued: 2013
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