A framework for capital structure decision-making in South African businesses
- Authors: Du Toit, Jan Lodewicus
- Date: 2019
- Subjects: Corporations -- Finance -- South Africa , Business enterprises -- South Africa Decision making
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/39567 , vital:35291
- Description: The research is undertaken to understand how businesses make their capital structure decisions by identifying and evaluating the factors to be considered in making capital structure decisions in South African businesses. Qualitative research methods are used in two phases. In phase one, a literature review is conducted to create a framework of strategic aspects to consider when making capital structure decisions. In phase two the framework is evaluated by conducting in-depth interviews. The purpose of phase two is to identify the strategic aspects that are considered in the South African business context. The literature overview identified twelve strategic aspects for consideration when making capital structure decisions, namely business risk, control, flexibility, growth rate, long-run viability, management constraints, management conservatism, market conditions, rating agencies, size, taxation and transactional cost. The framework of twelve strategic aspects to be considered when making capital structure decisions was empirically evaluated by means of interviews. The interview responses regarding the initial twelve strategic aspects were coded and three themes emerged, namely critical strategic decision-making factors (business risk, financial flexibility, tax advantage, and volatility of earnings cash flows); factors relating specifically to markets in South Africa (growth rate, long-term viability, market conditions, credit rating, and transaction costs) and autonomy of the decision-making process (control, management constraints, managerial conservatism, and size). During the interview process, it was indicated that the autonomy of the decision-making process theme (control structure, management constraints, managerial conservatism and business size) do not form part of the strategic capital structure decision-making process in their companies and should be omitted. The interviewees highlighted four additional themes that may affect their capital structure decisions, namely government interference in the market and in the local business; Black Economic Empowerment (BEE) rating; political stability, and state capture. The study suggests a proposed framework consisting of six themes that can be used to guide capital structure decisions in South Africa businesses.
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- Date Issued: 2019
The implementation of the succession policy and staff retention strategy: Joe Gqabi District Municipality
- Authors: Ramarou, Moleboheng
- Date: 2017
- Subjects: Local government -- South Africa -- Eastern Cape -- Employees Employee retention -- South Africa -- Eastern Cape , Personnel management -- South Africa -- Government
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: http://hdl.handle.net/10948/19894 , vital:29001
- Description: The aim of this study is to evaluate the implementation of the succession policy and staff retention strategy of the Joe Gqabi District Municipality (JGDM) in the Eastern Cape. Retention and succession are located within a broader understanding of administration and management, and specifically within the New Public Management theory. A qualitative research methodology was used. Semi-structured interviews were primary means of data collection, supplemented by documentary analysis. A non-probability, stratified sample of 12 senior managers, middle managers, supervisors and professionals employed by the district municipality constituted the target group. The findings reveal that both the succession policy and the staff retention strategy were hampered by severe implementation weaknesses, resulting in failure to stem the high rate of turnover and vacancies at the municipality. The study recommends a series of measures to enhance future implementation success.These include, amongst others, implementation action plans with clear deliverables andtimeframes, monitoring and evaluation; employee participation; linking execution to individual performance; and proactively addressing issues of staff satisfaction.
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- Date Issued: 2017
Building communities through re-blocking in the city of Cape Town
- Authors: Connacher, Jayde
- Date: 2016
- Subjects: Squatter settlements -- South Africa -- Cape Town , Housing -- South Africa -- Cape Town
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/3499 , vital:20436
- Description: This study uses the re-blocking policy adopted by the City of Cape Town to explore an alternative approach to the housing backlog crisis in South Africa. The two re-blocking projects examined in Mshini Wam and Kuku Town illustrate the benefits of re-blocking and the challenges that were overcome in both of these informal settlements. This study is descriptive in nature and explores the challenges that informal settlements present not only for their inhabitants, but also the impact these challenges have on the city itself. The re-blocking policy is explored as a potential approach to addressing these issues and how the in situ upgrading approach to informal settlements is an improved and sustainable approach for South Africa. Key findings suggest that the Re-blocking Policy can potentially address the challenges that informal settlements present and it could serve as a sustainable housing model for improving service delivery to informal settlements.
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- Date Issued: 2016
Application of lie group analysis to mathematical models in epidemiology
- Authors: Otieno, Andrew Alex Omondi
- Date: 2013
- Subjects: Epidemiology -- Mathematical models
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: vital:18486 , http://hdl.handle.net/11260/100
- Description: Lie group analysis is arguably the most systematic vehicle for finding exact solutions of differential equations. Using this approach one has at one's disposal a variety of algorithms that make the solution process of many differential equations algorithmic. Vital properties of a given differential equation can often be inferred from the symmetries admitted by the equation. However, Lie group analysis has not enjoyed wide-spread application to systems of first-order ordinary differential equations. This is because such systems typically admit an infinite number of Lie point symmetries, and there is no systematic way to find even a single nontrivial one-dimensional Lie symmetry algebra. In the few applications available, the approach has been to circumvent the problem by transforming a given system of first-order ordinary differential equations into one in which at least one of the equations is of order two or greater. It is therefore fair to say that the full power of Lie group analysis has not been sufficiently harnessed in the solution of systems of first-order ordinary differential equations. In this dissertation we review some applications of Lie group analysis to systems of first order ordinary differential equations. We shed light on the integration procedure for first-order systems of ordinary differential equations admitting a solvable Lie algebra. We do this via instructive examples drawn from mathematical epidemiology models. In particular we revisit the work of Nucci and Torrisi [54] and improve the exposition of the Lie-symmetry-inspired solution of a mathematical model which describes a HIV transmission. To aid implementation of the integration strategy for systems of ordinary differential equations, we have developed ad-hoc routines for finding particular types of admitted symmetries and checking if a given symmetry is indeed admitted by a system of ordinary differential equations.
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- Date Issued: 2013