An economic analysis of concentrator photovoltaic technology use in South Africa: a case study
- Authors: Beukes, Justin
- Date: 2013
- Subjects: Renewable energy resources , Power resources -- Economic aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9017 , http://hdl.handle.net/10948/d1018636
- Description: South Africa relies heavily on fossil fuels, particularly coal, to generate electricity and it is a well known fact that the use of fossil fuels contributes to climate change, as it produces greenhouse gases (GHGs). In fact, internationally South Africa is the 17th highest emitter of GHGs (Congressional Research Service (CRS), 2008). Coupled with the environmental consequences of fossil fuel use, South Africa has a further responsibility of addressing the inherited backlog of electricity provision to the rural, and previously disadvantaged communities. In an attempt to address these two problems, the government issued the White Paper on Renewable Energy. In this paper, renewable energy alternatives are proposed to replace a portion of traditional electricity generating methods. Concentrator photovoltaic (CPV) energy generation is one such renewable option available to government. CPV uses optic elements (such as lenses) to concentrate sunlight onto solar cells. Owing to the light being concentrated, the cells in CPV use less semiconductor material, which makes them more efficient in comparison to conventional photovoltaic (PV) cells. CPV is a technology that operates well in regions with high solar radiation. As such, South Africa is particularly well suited for this technology, with average solar radiation levels ranging from 4.5 to 6.5 05 ℎ/. CPV is also well suited for off-grid application, which addresses electricity demand in remote rural areas. This study is an economic project analysis of the installation, operation, maintenance, and decommissioning of CPV technology in a rural area in the Eastern Cape, South Africa. The study area chosen for this purpose is the Tyefu settlement in the Eastern Cape. Tyefu was deemed ideal for this type of analysis due to four characteristics. Firstly, Tyefu is a remote rural settlement at the end of the national grid. Secondly, the community is very poor and previously disadvantaged. Thirdly, many households are without Eskom generated electricity. Lastly, the study area is located in an area with ideal irradiance levels for CPV. Two methods of economic project analysis are applied to this case study, namely a costbenefit analysis (CBA) and a cost-effectiveness analysis (CEA). Additionally, two types of CBA are performed, namely a private CBA and a social CBA. The private CBA evaluates the Tyefu electrification project from a private investor's perspective and the social CBA evaluates the project from society's point of view. The CEAs carried out compare the costeffectiveness of the traditional PV technology to that of CPV in terms of private and social costs. The private costs and benefits of the CPV project were identified and valued in terms of market prices. Then, this cost benefit profile was used to calculate net benefits which in turn were discounted to present values using a private discount rate of 6.42 percent. Three decision making criteria were generated, namely the net present value (NPV), the internal rate of return (IRR) and the benefit cost ratio (BCR). Sensitivity analysis was carried out by varying the private discount rate and the bidding price. The social costs and benefits of the CPV project were identified and valued in terms of shadow prices. This cost benefit profile was used to calculate net benefits. The net benefits were discounted to present values using a composite social discount rate equal to 5.97 percent. The same decision making criteria used in the private CBA were used in the social CBA and a sensitivity analysis was completed by varying the social discount rate. In terms of the private CEA, the costs were identified and valued in terms of market prices. All costs were brought to present values using the private discount rate of 6.42 percent. In terms of the social CEA, the costs were identified and valued in terms of shadow prices. All costs were brought to present values using the social discount rate of 5.97 percent. The cost-effectiveness (CE) ratios calculated have identical denominators since the annual output for both technologies are identical - both CPV and PV systems deliver 30 300 kWh per annum. This output is based on the demand of the given case study. The private CBA showed unfavourable results. The private CBA has a NPV of R2 046 629.01, the IRR is undefined (this is due to no sign change being present in the cost benefit profile), and has a BCR of 0.365. However, the social CBA yielded positive results, with a NPV of R125 616.64, an IRR of 8 percent (which exceeds the social discount rate of 5.97 percent), and a BCR of 1.045. The CEA showed that the CPV is more cost-effective than the traditional PV both in terms of private and social costs. The private CE ratio of CPV is R4.23/kWh compared to PV's CE ratio of R4.39/kWh. Similarly, the social CE ratio of CPV is R3.51/kWh compared to PV's CE ratio of R3.69/kWh. CPV rollout appears to be socially efficient on a small scale according to the social CBA. Consequently, the CPV project is not seen as desirable in terms of the private CBA as the benefit (income received per kWh) in the private analysis is too small to outweigh the costs of implementing and running a CPV plant in Tyefu. On the other hand, a redeeming factor is that CPV may be feasible privately, for large scale applications. A major reason for the CPV project not being appealing to private investors is that the maximum bidding price of R2.85/kWh (as at August 2011) is not high enough for private investors to undertake the CPV project. The sensitivity analysis of the bidding price showed that the bidding price of R2.85/kWh needs to be increased in the range of 250 percent (R7.13/kWh) and 300 percent (R8.55/kWh) for a great enough incentive to exist for private investors. It is thus recommended that policymakers take this into consideration when formulating policy. In terms of the social CBA, it is recommended that government undertake CPV projects of this kind, as it will be a socially desirable allocation of resources. If government were to pursue these types of projects, it is recommended that CPV be implemented as it is more cost effective than PV.
- Full Text:
- Date Issued: 2013
- Authors: Beukes, Justin
- Date: 2013
- Subjects: Renewable energy resources , Power resources -- Economic aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9017 , http://hdl.handle.net/10948/d1018636
- Description: South Africa relies heavily on fossil fuels, particularly coal, to generate electricity and it is a well known fact that the use of fossil fuels contributes to climate change, as it produces greenhouse gases (GHGs). In fact, internationally South Africa is the 17th highest emitter of GHGs (Congressional Research Service (CRS), 2008). Coupled with the environmental consequences of fossil fuel use, South Africa has a further responsibility of addressing the inherited backlog of electricity provision to the rural, and previously disadvantaged communities. In an attempt to address these two problems, the government issued the White Paper on Renewable Energy. In this paper, renewable energy alternatives are proposed to replace a portion of traditional electricity generating methods. Concentrator photovoltaic (CPV) energy generation is one such renewable option available to government. CPV uses optic elements (such as lenses) to concentrate sunlight onto solar cells. Owing to the light being concentrated, the cells in CPV use less semiconductor material, which makes them more efficient in comparison to conventional photovoltaic (PV) cells. CPV is a technology that operates well in regions with high solar radiation. As such, South Africa is particularly well suited for this technology, with average solar radiation levels ranging from 4.5 to 6.5 05 ℎ/. CPV is also well suited for off-grid application, which addresses electricity demand in remote rural areas. This study is an economic project analysis of the installation, operation, maintenance, and decommissioning of CPV technology in a rural area in the Eastern Cape, South Africa. The study area chosen for this purpose is the Tyefu settlement in the Eastern Cape. Tyefu was deemed ideal for this type of analysis due to four characteristics. Firstly, Tyefu is a remote rural settlement at the end of the national grid. Secondly, the community is very poor and previously disadvantaged. Thirdly, many households are without Eskom generated electricity. Lastly, the study area is located in an area with ideal irradiance levels for CPV. Two methods of economic project analysis are applied to this case study, namely a costbenefit analysis (CBA) and a cost-effectiveness analysis (CEA). Additionally, two types of CBA are performed, namely a private CBA and a social CBA. The private CBA evaluates the Tyefu electrification project from a private investor's perspective and the social CBA evaluates the project from society's point of view. The CEAs carried out compare the costeffectiveness of the traditional PV technology to that of CPV in terms of private and social costs. The private costs and benefits of the CPV project were identified and valued in terms of market prices. Then, this cost benefit profile was used to calculate net benefits which in turn were discounted to present values using a private discount rate of 6.42 percent. Three decision making criteria were generated, namely the net present value (NPV), the internal rate of return (IRR) and the benefit cost ratio (BCR). Sensitivity analysis was carried out by varying the private discount rate and the bidding price. The social costs and benefits of the CPV project were identified and valued in terms of shadow prices. This cost benefit profile was used to calculate net benefits. The net benefits were discounted to present values using a composite social discount rate equal to 5.97 percent. The same decision making criteria used in the private CBA were used in the social CBA and a sensitivity analysis was completed by varying the social discount rate. In terms of the private CEA, the costs were identified and valued in terms of market prices. All costs were brought to present values using the private discount rate of 6.42 percent. In terms of the social CEA, the costs were identified and valued in terms of shadow prices. All costs were brought to present values using the social discount rate of 5.97 percent. The cost-effectiveness (CE) ratios calculated have identical denominators since the annual output for both technologies are identical - both CPV and PV systems deliver 30 300 kWh per annum. This output is based on the demand of the given case study. The private CBA showed unfavourable results. The private CBA has a NPV of R2 046 629.01, the IRR is undefined (this is due to no sign change being present in the cost benefit profile), and has a BCR of 0.365. However, the social CBA yielded positive results, with a NPV of R125 616.64, an IRR of 8 percent (which exceeds the social discount rate of 5.97 percent), and a BCR of 1.045. The CEA showed that the CPV is more cost-effective than the traditional PV both in terms of private and social costs. The private CE ratio of CPV is R4.23/kWh compared to PV's CE ratio of R4.39/kWh. Similarly, the social CE ratio of CPV is R3.51/kWh compared to PV's CE ratio of R3.69/kWh. CPV rollout appears to be socially efficient on a small scale according to the social CBA. Consequently, the CPV project is not seen as desirable in terms of the private CBA as the benefit (income received per kWh) in the private analysis is too small to outweigh the costs of implementing and running a CPV plant in Tyefu. On the other hand, a redeeming factor is that CPV may be feasible privately, for large scale applications. A major reason for the CPV project not being appealing to private investors is that the maximum bidding price of R2.85/kWh (as at August 2011) is not high enough for private investors to undertake the CPV project. The sensitivity analysis of the bidding price showed that the bidding price of R2.85/kWh needs to be increased in the range of 250 percent (R7.13/kWh) and 300 percent (R8.55/kWh) for a great enough incentive to exist for private investors. It is thus recommended that policymakers take this into consideration when formulating policy. In terms of the social CBA, it is recommended that government undertake CPV projects of this kind, as it will be a socially desirable allocation of resources. If government were to pursue these types of projects, it is recommended that CPV be implemented as it is more cost effective than PV.
- Full Text:
- Date Issued: 2013
Corporate social responsibility of private game reserves in the Eastern Cape Province
- Authors: Motala, Amina Sadiq
- Date: 2013
- Subjects: Social responsibility of busines -- South Africa -- Eastern Cape Game reserves -- South Africa -- Eastern Cape Ecotourism -- South Africa -- Eastern Cape Environmental responsibility -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1187 , http://hdl.handle.net/10962/d1004335
- Description: The primary aim of this research study was to determine the current state of practice of corporate social responsibility (CSR) within the ecotourism based private game reserve (PGR) industry in the Eastern Cape Province of South Africa. According to Carroll (1991) four kind of responsibilities constitute total CSR, namely economic, legal, ethical and philanthropic responsibilities. Given the context of this research a fifth responsibility concerning environmental responsibilities was added to Carroll 's (1991) pyramid ofCSR. A descriptive and illustrative case study approach, within the phenomenological research paradigm, was used for the purpose of this research. The unit of analysis is the Indalo group, the Association of Eastern Cape Private Game Reserves, made up of 12 ecotourism based PORs. As the current research focused on eight of the twelve PGRs a mUltiple case study was employed. To give effect to the aim a number of research objectives were identified. Firstly to desclibe and assess the current practice in implementing CSR within the ecotourism based PGR industry in the Eastern Cape Province. Secondly, to assess and evaluate the involvement of ecotourism based PGRs in the Eastern Cape Province in each of the five responsibilities comprising CSR. Thirdly, to identify the challenges faced by ecotourism based PGRs in the Eastern Cape Province with regard to the implementation of CSR initiatives. Lastly to provide pertinent conclusions and recommendations with regard to CSR strategies within the ecotourism based PGR industry in the Eastern Cape Province. Data were collected by means of in-depth interviews with the managers of each reserve. In addition the researcher conducted focus interviews with administrative employees at each of the member reserves of the Indalo group. Additionally the managers of each reserve were requested to respond to a structured five point Likert scale questionnaire based on the research by Aupperle, Carroll and Hatfield (1985). This research study found that the current practice at the Indalo group is towards a strategic, long term approach to CSR that aids in the development of a 'sustainable organisation.' The aspect of ' empowerment' emerged as the essence of the current practice ofCSR of the Indalo group. Based on the current practice it was concluded that the Indalo group is actively involved in the specific components of CSR namely, environmental, economic, legal, ethical and philanthropic responsibilities. With regard to the environmental responsibilities it was concluded that the environment is the foundation upon which all other components of CSR rest. In addition it was concluded that the economic responsibilities, if managed well, are key to unlocking the CSR potential of a reserve as well as ensuring widespread economic development. In terms of the legal and ethical responsibilities it was concluded that tourism policies both at the national and international level have not aided in the development of a CSR agenda of the Indalo group. Furthermore managers of the reserves have been instrumental in cultivating their own legal culture of CSR based on their experience in the tourism industry and their ethical stances. In terms of the philanthropic responsibilities it can be concluded that charitable activities that are long term and strategic in nature allow for direct and indirect benefits to all parties involved. Overall, it can further be concluded that despite Hudson and Miller's (2005:5) view that the "tourism industry is well hehind other industries in terms of CSR" the Indalo group is moving forward in terms of rooting CSR into their everyday operations.
- Full Text:
- Date Issued: 2013
- Authors: Motala, Amina Sadiq
- Date: 2013
- Subjects: Social responsibility of busines -- South Africa -- Eastern Cape Game reserves -- South Africa -- Eastern Cape Ecotourism -- South Africa -- Eastern Cape Environmental responsibility -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1187 , http://hdl.handle.net/10962/d1004335
- Description: The primary aim of this research study was to determine the current state of practice of corporate social responsibility (CSR) within the ecotourism based private game reserve (PGR) industry in the Eastern Cape Province of South Africa. According to Carroll (1991) four kind of responsibilities constitute total CSR, namely economic, legal, ethical and philanthropic responsibilities. Given the context of this research a fifth responsibility concerning environmental responsibilities was added to Carroll 's (1991) pyramid ofCSR. A descriptive and illustrative case study approach, within the phenomenological research paradigm, was used for the purpose of this research. The unit of analysis is the Indalo group, the Association of Eastern Cape Private Game Reserves, made up of 12 ecotourism based PORs. As the current research focused on eight of the twelve PGRs a mUltiple case study was employed. To give effect to the aim a number of research objectives were identified. Firstly to desclibe and assess the current practice in implementing CSR within the ecotourism based PGR industry in the Eastern Cape Province. Secondly, to assess and evaluate the involvement of ecotourism based PGRs in the Eastern Cape Province in each of the five responsibilities comprising CSR. Thirdly, to identify the challenges faced by ecotourism based PGRs in the Eastern Cape Province with regard to the implementation of CSR initiatives. Lastly to provide pertinent conclusions and recommendations with regard to CSR strategies within the ecotourism based PGR industry in the Eastern Cape Province. Data were collected by means of in-depth interviews with the managers of each reserve. In addition the researcher conducted focus interviews with administrative employees at each of the member reserves of the Indalo group. Additionally the managers of each reserve were requested to respond to a structured five point Likert scale questionnaire based on the research by Aupperle, Carroll and Hatfield (1985). This research study found that the current practice at the Indalo group is towards a strategic, long term approach to CSR that aids in the development of a 'sustainable organisation.' The aspect of ' empowerment' emerged as the essence of the current practice ofCSR of the Indalo group. Based on the current practice it was concluded that the Indalo group is actively involved in the specific components of CSR namely, environmental, economic, legal, ethical and philanthropic responsibilities. With regard to the environmental responsibilities it was concluded that the environment is the foundation upon which all other components of CSR rest. In addition it was concluded that the economic responsibilities, if managed well, are key to unlocking the CSR potential of a reserve as well as ensuring widespread economic development. In terms of the legal and ethical responsibilities it was concluded that tourism policies both at the national and international level have not aided in the development of a CSR agenda of the Indalo group. Furthermore managers of the reserves have been instrumental in cultivating their own legal culture of CSR based on their experience in the tourism industry and their ethical stances. In terms of the philanthropic responsibilities it can be concluded that charitable activities that are long term and strategic in nature allow for direct and indirect benefits to all parties involved. Overall, it can further be concluded that despite Hudson and Miller's (2005:5) view that the "tourism industry is well hehind other industries in terms of CSR" the Indalo group is moving forward in terms of rooting CSR into their everyday operations.
- Full Text:
- Date Issued: 2013
Environmental sustainability leadership in South Africa: an empirical perspective
- Authors: May, Jode Joy
- Date: 2013
- Subjects: Organizational change , Leadership , Business -- Environmental aspects , Strategic planning -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9320 , http://hdl.handle.net/10948/d1020766
- Description: Striking the balance between managing a successful organisation and paying attention to environmental sustainability requires excellent leadership. There are several benefits associated with being an environmentally sustainable organisation such as improved image (reputation and brand), increased customer loyalty, improved bottom line, attracting skilled experienced staff and improving the relationships with local communities. The purpose of this study was to explore and describe the change leadership qualities needed to drive environmental sustainability in the South African landscape to reduce global warming reduction. The qualitative paradigm was utilised to investigate the change leadership qualities needed to affect create environmental sustainability, with focus on global warming reduction actions in the workplace. A literature review was conducted on environmental sustainability, change leadership, and leadership qualities necessary to effect change. A survey was conducted among 13 participants using an interview schedule in the Gauteng, Western and Eastern Cape provinces of South Africa in both private and public organisations in various business sectors. Data was collected in 2013 over a four–month period by conducting face-to-face, telephonic and email interviews. The returned questionnaires were subjected to constant comparative, content and grounded theory analysis. Biographical profiles of the respondents and participating organisations were presented as case studies. Trustworthiness of the data was ascertained using data triangulation. Data was analysed in terms of the issues of environmental sustainability and change leadership. In-depth analyses were also conducted by means of provincial, business and employment sector comparisons. It was found that environmental sustainability was being addressed by the selected organisations, specifically relating to GHG emissions, energy and water saving actions. Change leaders should implement specific environmental sustainability strategies to assist in the reduction of global warming, create awareness, focus on employee involvement, report on their sustainability results and put and incentives in place to encourage environmental sustainability. In order to effect such changes, change leaders need to set targets to measure their sustainability progress. Green campaigns should be conducted internally to educate employees on the effects of global warming, and externally to inform the public about their commitment to environmental sustainability and to advise the public on courses of actions to assist in the quest to reduce global warming. It would be advisable for organisations to appoint a specific environmental sustainability team to drive these efforts. It was found that in order to bring about such changes, certain qualities were needed by change leaders to enable them to act as a change agents. Associated change leadership styles were also addressed. Change leaders should be knowledgeable in order to effectively communicate the importance of environmental sustainability. They should adopt a blend of leadership styles to drive environmental sustainability depending on the extent of change actions planned. Organisations should identify, appoint and mentor female leaders as they have the nurturing qualities that could successfully drive environmental sustainability actions. Change leaders should also preferably be personally involved in environmental sustainability as their personal values together with their job role at top leadership level could contribute towards successful implementation of environmental sustainability actions in the workplace. The study has provided general guidelines on the environmental sustainability issues necessary to address global warming reduction as well as guidelines on the change leaders qualities necessary to drive environmental sustainability actions in the workplace.
- Full Text:
- Date Issued: 2013
- Authors: May, Jode Joy
- Date: 2013
- Subjects: Organizational change , Leadership , Business -- Environmental aspects , Strategic planning -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9320 , http://hdl.handle.net/10948/d1020766
- Description: Striking the balance between managing a successful organisation and paying attention to environmental sustainability requires excellent leadership. There are several benefits associated with being an environmentally sustainable organisation such as improved image (reputation and brand), increased customer loyalty, improved bottom line, attracting skilled experienced staff and improving the relationships with local communities. The purpose of this study was to explore and describe the change leadership qualities needed to drive environmental sustainability in the South African landscape to reduce global warming reduction. The qualitative paradigm was utilised to investigate the change leadership qualities needed to affect create environmental sustainability, with focus on global warming reduction actions in the workplace. A literature review was conducted on environmental sustainability, change leadership, and leadership qualities necessary to effect change. A survey was conducted among 13 participants using an interview schedule in the Gauteng, Western and Eastern Cape provinces of South Africa in both private and public organisations in various business sectors. Data was collected in 2013 over a four–month period by conducting face-to-face, telephonic and email interviews. The returned questionnaires were subjected to constant comparative, content and grounded theory analysis. Biographical profiles of the respondents and participating organisations were presented as case studies. Trustworthiness of the data was ascertained using data triangulation. Data was analysed in terms of the issues of environmental sustainability and change leadership. In-depth analyses were also conducted by means of provincial, business and employment sector comparisons. It was found that environmental sustainability was being addressed by the selected organisations, specifically relating to GHG emissions, energy and water saving actions. Change leaders should implement specific environmental sustainability strategies to assist in the reduction of global warming, create awareness, focus on employee involvement, report on their sustainability results and put and incentives in place to encourage environmental sustainability. In order to effect such changes, change leaders need to set targets to measure their sustainability progress. Green campaigns should be conducted internally to educate employees on the effects of global warming, and externally to inform the public about their commitment to environmental sustainability and to advise the public on courses of actions to assist in the quest to reduce global warming. It would be advisable for organisations to appoint a specific environmental sustainability team to drive these efforts. It was found that in order to bring about such changes, certain qualities were needed by change leaders to enable them to act as a change agents. Associated change leadership styles were also addressed. Change leaders should be knowledgeable in order to effectively communicate the importance of environmental sustainability. They should adopt a blend of leadership styles to drive environmental sustainability depending on the extent of change actions planned. Organisations should identify, appoint and mentor female leaders as they have the nurturing qualities that could successfully drive environmental sustainability actions. Change leaders should also preferably be personally involved in environmental sustainability as their personal values together with their job role at top leadership level could contribute towards successful implementation of environmental sustainability actions in the workplace. The study has provided general guidelines on the environmental sustainability issues necessary to address global warming reduction as well as guidelines on the change leaders qualities necessary to drive environmental sustainability actions in the workplace.
- Full Text:
- Date Issued: 2013
Financial viability of sustainable infrastructural development at the Nelson Mandela Metropolitan University
- Authors: Ducie, Gregory Justin
- Date: 2013
- Subjects: Universities and colleges -- South Africa -- Eastern Cape -- Finance , Education, Higher -- South Africa -- Finance , Infrastructure (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9302 , http://hdl.handle.net/10948/d1015063
- Description: Sustainable environmental practices need to be integrated into a university's infrastructural operations. Universities are entities that function within financial constraints with varying priorities across both administrative and educational functions. Unfortunately, these financial constraints often imply that a university's potential leadership role can only be realised should the viability (business case) of a proposed intervention be determined. This study focuses on the determination of a relational sustainable indicator and a relational cost factor. A relational sustainable indicator demonstrates how a university can collectively determine the contribution made to sustainability by various sectors of infrastructure. This is developed by means of a secondary study. Two components are important for calculating the relational sustainability indicator, namely, green infrastructure attributes and the basic elements of sustainability systems, namely, the environmental, economic and social dimensions of sustainability. The determination of a relational cost factor involves the quantification of the costs associated with alternative infrastructure provision. In particular, attention is paid to demand-side management costs, rationalising spatial growth costs, green building development costs, operation and maintenance of existing buildings costs, wastewater infrastructure costs, water infrastructure costs, energy infrastructure costs and transport infrastructure costs. Once the actual costs of each intervention category are determined, a relational sustainable cost factor can be calculated. Utilising the costs in the eight categories identified, a relational sustainable cost factor is determined. A resultant relational cost benefit as per the eight defined categories of sustainable infrastructure provision is derived from the relevant costs of sustainable infrastructure provision, the resultant relational cost factors and, finally, the relational sustainability indicators. It is proposed that that the determination of a budget split between the various interventions based on the resultant relational cost factor occur as follows: - Demand side management interventions: 15.97percent - Rationalising spatial growth: 6.72percent - Construction of green buildings: 24.37percent - Operations and maintenance: 21.85percent - Wastewater: 7.56percent - Water: 1.68percent - Energy: 12.61percent - Transport: 9.24percent. This study provides a platform to guide how and where to invest in sustainable infrastructure and provide direction in determining a budget split between various categories of sustainable infrastructure development.
- Full Text:
- Date Issued: 2013
- Authors: Ducie, Gregory Justin
- Date: 2013
- Subjects: Universities and colleges -- South Africa -- Eastern Cape -- Finance , Education, Higher -- South Africa -- Finance , Infrastructure (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9302 , http://hdl.handle.net/10948/d1015063
- Description: Sustainable environmental practices need to be integrated into a university's infrastructural operations. Universities are entities that function within financial constraints with varying priorities across both administrative and educational functions. Unfortunately, these financial constraints often imply that a university's potential leadership role can only be realised should the viability (business case) of a proposed intervention be determined. This study focuses on the determination of a relational sustainable indicator and a relational cost factor. A relational sustainable indicator demonstrates how a university can collectively determine the contribution made to sustainability by various sectors of infrastructure. This is developed by means of a secondary study. Two components are important for calculating the relational sustainability indicator, namely, green infrastructure attributes and the basic elements of sustainability systems, namely, the environmental, economic and social dimensions of sustainability. The determination of a relational cost factor involves the quantification of the costs associated with alternative infrastructure provision. In particular, attention is paid to demand-side management costs, rationalising spatial growth costs, green building development costs, operation and maintenance of existing buildings costs, wastewater infrastructure costs, water infrastructure costs, energy infrastructure costs and transport infrastructure costs. Once the actual costs of each intervention category are determined, a relational sustainable cost factor can be calculated. Utilising the costs in the eight categories identified, a relational sustainable cost factor is determined. A resultant relational cost benefit as per the eight defined categories of sustainable infrastructure provision is derived from the relevant costs of sustainable infrastructure provision, the resultant relational cost factors and, finally, the relational sustainability indicators. It is proposed that that the determination of a budget split between the various interventions based on the resultant relational cost factor occur as follows: - Demand side management interventions: 15.97percent - Rationalising spatial growth: 6.72percent - Construction of green buildings: 24.37percent - Operations and maintenance: 21.85percent - Wastewater: 7.56percent - Water: 1.68percent - Energy: 12.61percent - Transport: 9.24percent. This study provides a platform to guide how and where to invest in sustainable infrastructure and provide direction in determining a budget split between various categories of sustainable infrastructure development.
- Full Text:
- Date Issued: 2013
The influence of students' perceived happiness on their entrepreneurial intention at a higher educational institution in South Africa
- Authors: Mamoudou, Hamadou
- Date: 2013
- Subjects: Entrepreneurship -- Study and teaching , ntrepreneurship
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9319 , http://hdl.handle.net/10948/d1020764
- Description: Like most developing countries, South Africa is characterised by high rates of unemployment in general and even more so among the youth and graduates. One solution to this unemployment problem is encouraging people to become entrepreneurs. Most findings reveal however that entrepreneurial activities among the youth in general and university graduates in particular are low. Since entrepreneurial intention is the main precursor of future entrepreneurial actions, a secondary research was undertaken in this study to discover which factors influence entrepreneurial intention in order to increase students’ future entrepreneurial behaviour. Various determinants of entrepreneurial intention were found in the literature, but none of the previous studies investigated the influence of happiness on entrepreneurial intention, despite the growing importance of research on happiness. Consequently, the primary objective of this study was to identify and empirically test the possible influence of various determinants of students’ Perceived happiness on their Entrepreneurial intention at a higher educational institution in South Africa. The comprehensive literature review that was undertaken revealed eleven independent variables that could potentially influence students’ Perceived happiness. These independent variables were regrouped under two main categories, namely sociodemographic factors and psychological factors. Socio-demographic factors included: Perception of wealth, Satisfaction with health, Perception of employment, Leisure, Social relationships and Religion. On the other hand, psychological factors included: Extroversion, Neuroticism, Optimism, Self-esteem and Goals achievement. The independent variables, the mediating variable (Perceived happiness), as well as the dependent variable (Entrepreneurial intention) were clearly defined and operationalised and a hypothesised model, suggesting the hypotheses between the variables was built. During the creation of the measuring instrument, items were sourced from both reliable and valid scales used in previous studies, as well as self-generated items. The respondents of this study were identified through the simple random sampling technique and an electronic questionnaire was sent to each one of them. In total, 806 usable questionnaires were returned and data was subjected to several statistical analyses. An exploratory factor analysis was conducted to assess the validity of the measuring instrument, whereas reliability was gauged by calculating Cronbach’s alpha coefficients. These two tests allowed the extraction of the dependent variable (Entrepreneurial intention), the mediating variable (Perceived happiness) and seven independent variables, namely Perception of wealth, Perception of employment, Leisure, Religion, Extroversion, Neuroticism and finally Goals achievement. Pearson’s correlation coefficients were calculated in order to assess the degree of correlation or association that existed between the variables investigated in the present study. Multiple regressions analyses were used to test the influence of the independent variables on the mediating variable, whereas simple regression analysis was used to assess the influence of the mediating variable on the dependent variable. Additionally, a series of multiple regression analyses was conducted in order to verify the mediating effect of Perceived happiness between all the independent variables and Entrepreneurial intention. The following independent variables were identified as influencing the mediating variable Perceived happiness, namely: Perception of employment; Leisure; Religion; Extroversion; Neuroticism; and Goals achievement. The results of the series of multiple regression analyses revealed that Perceived happiness had a positive influence on Entrepreneurial intention. However, Perceived happiness did not mediate the relationships between the independent variables and Entrepreneurial intention. Thus, the following independent variables were identified as having a direct influence on the dependent variable Entrepreneurial intention, namely: Perception of wealth; Religion; Perception of employment; Extroversion; and Goals achievement. In order to investigate the influence of various demographic variables on the independent, the mediating and the dependent variables, an analysis of variance (ANOVA) was performed. The demographic variables Gender, Population group, Year of study and Faculty had influences on the dependent variable, Entrepreneurial intention, whereas only Population group and Faculty had influences on the mediating variables, Perceived happiness. By empirically investigating the influence of students’ Perceived happiness on their Entrepreneurial intention, this study has expended the limits of knowledge on both happiness and entrepreneurial intention research. It has made a significant contribution towards understanding the factors influencing students’ Perceived happiness and their Entrepreneurial intention. In addition, practical suggestions and recommendations towards increasing students’ levels of Perceived happiness and aspirations to become entrepreneurs after completing their studies have been proposed to students, lecturers and university management.
- Full Text:
- Date Issued: 2013
- Authors: Mamoudou, Hamadou
- Date: 2013
- Subjects: Entrepreneurship -- Study and teaching , ntrepreneurship
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9319 , http://hdl.handle.net/10948/d1020764
- Description: Like most developing countries, South Africa is characterised by high rates of unemployment in general and even more so among the youth and graduates. One solution to this unemployment problem is encouraging people to become entrepreneurs. Most findings reveal however that entrepreneurial activities among the youth in general and university graduates in particular are low. Since entrepreneurial intention is the main precursor of future entrepreneurial actions, a secondary research was undertaken in this study to discover which factors influence entrepreneurial intention in order to increase students’ future entrepreneurial behaviour. Various determinants of entrepreneurial intention were found in the literature, but none of the previous studies investigated the influence of happiness on entrepreneurial intention, despite the growing importance of research on happiness. Consequently, the primary objective of this study was to identify and empirically test the possible influence of various determinants of students’ Perceived happiness on their Entrepreneurial intention at a higher educational institution in South Africa. The comprehensive literature review that was undertaken revealed eleven independent variables that could potentially influence students’ Perceived happiness. These independent variables were regrouped under two main categories, namely sociodemographic factors and psychological factors. Socio-demographic factors included: Perception of wealth, Satisfaction with health, Perception of employment, Leisure, Social relationships and Religion. On the other hand, psychological factors included: Extroversion, Neuroticism, Optimism, Self-esteem and Goals achievement. The independent variables, the mediating variable (Perceived happiness), as well as the dependent variable (Entrepreneurial intention) were clearly defined and operationalised and a hypothesised model, suggesting the hypotheses between the variables was built. During the creation of the measuring instrument, items were sourced from both reliable and valid scales used in previous studies, as well as self-generated items. The respondents of this study were identified through the simple random sampling technique and an electronic questionnaire was sent to each one of them. In total, 806 usable questionnaires were returned and data was subjected to several statistical analyses. An exploratory factor analysis was conducted to assess the validity of the measuring instrument, whereas reliability was gauged by calculating Cronbach’s alpha coefficients. These two tests allowed the extraction of the dependent variable (Entrepreneurial intention), the mediating variable (Perceived happiness) and seven independent variables, namely Perception of wealth, Perception of employment, Leisure, Religion, Extroversion, Neuroticism and finally Goals achievement. Pearson’s correlation coefficients were calculated in order to assess the degree of correlation or association that existed between the variables investigated in the present study. Multiple regressions analyses were used to test the influence of the independent variables on the mediating variable, whereas simple regression analysis was used to assess the influence of the mediating variable on the dependent variable. Additionally, a series of multiple regression analyses was conducted in order to verify the mediating effect of Perceived happiness between all the independent variables and Entrepreneurial intention. The following independent variables were identified as influencing the mediating variable Perceived happiness, namely: Perception of employment; Leisure; Religion; Extroversion; Neuroticism; and Goals achievement. The results of the series of multiple regression analyses revealed that Perceived happiness had a positive influence on Entrepreneurial intention. However, Perceived happiness did not mediate the relationships between the independent variables and Entrepreneurial intention. Thus, the following independent variables were identified as having a direct influence on the dependent variable Entrepreneurial intention, namely: Perception of wealth; Religion; Perception of employment; Extroversion; and Goals achievement. In order to investigate the influence of various demographic variables on the independent, the mediating and the dependent variables, an analysis of variance (ANOVA) was performed. The demographic variables Gender, Population group, Year of study and Faculty had influences on the dependent variable, Entrepreneurial intention, whereas only Population group and Faculty had influences on the mediating variables, Perceived happiness. By empirically investigating the influence of students’ Perceived happiness on their Entrepreneurial intention, this study has expended the limits of knowledge on both happiness and entrepreneurial intention research. It has made a significant contribution towards understanding the factors influencing students’ Perceived happiness and their Entrepreneurial intention. In addition, practical suggestions and recommendations towards increasing students’ levels of Perceived happiness and aspirations to become entrepreneurs after completing their studies have been proposed to students, lecturers and university management.
- Full Text:
- Date Issued: 2013
Value and size investment strategies: evidence from the cross-section of returns in the South African equity market
- Authors: Barnard, Kevin John
- Date: 2013
- Subjects: Financial risk -- South Africa , Saving and investment -- South Africa , Stock exchanges -- South Africa , Investments -- Psychological aspects , Investments -- Decision making , Value premium , Size effect , Rational finance , Behavioural finance , South African equity markets
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:874 , http://hdl.handle.net/10962/d1001606 , Financial risk -- South Africa , Saving and investment -- South Africa , Stock exchanges -- South Africa , Investments -- Psychological aspects , Investments -- Decision making
- Description: Value and size related equity investment strategies are supported by a large body of empirical research that shows a persistent premium, both longitudinally and crosssectionally. However, the competing rational and behavioural finance explanations for the success of these strategies are a subject of debate. The rational explanation is that the premium earned on value shares or shares of small companies can be attributed to higher risk. Behaviouralists argue that such shares are not riskier and attribute the premium to cognitive errors and biases in human decision making. The purpose of this study is to determine, firstly, whether the value and size premium exist in South Africa during the period July 2006 to June 2012, which includes one of the worst equity market crises in history. Secondly, this study sets out to determine whether the premium earned on value and size strategies are adequately explained by the principles of rational finance theory. To provide evidence regarding the existence of the value premium and size effect, returns are analysed, cross-sectionally, on portfolios of shares sorted by value and size. For evidence of a rational explanation, returns are regressed on value and size variables, and the relative riskiness of value and small companies is analysed. The results show evidence of a value premium in portfolios of small companies, but not big companies. The size effect is found not to be statistically significant. While regressions do show significant relationships between value and size variables and returns, these variables are found not to be associated with higher levels of risk. The conclusion is that the evidence does not support a rational, risk based explanation of the returns
- Full Text:
- Date Issued: 2013
- Authors: Barnard, Kevin John
- Date: 2013
- Subjects: Financial risk -- South Africa , Saving and investment -- South Africa , Stock exchanges -- South Africa , Investments -- Psychological aspects , Investments -- Decision making , Value premium , Size effect , Rational finance , Behavioural finance , South African equity markets
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:874 , http://hdl.handle.net/10962/d1001606 , Financial risk -- South Africa , Saving and investment -- South Africa , Stock exchanges -- South Africa , Investments -- Psychological aspects , Investments -- Decision making
- Description: Value and size related equity investment strategies are supported by a large body of empirical research that shows a persistent premium, both longitudinally and crosssectionally. However, the competing rational and behavioural finance explanations for the success of these strategies are a subject of debate. The rational explanation is that the premium earned on value shares or shares of small companies can be attributed to higher risk. Behaviouralists argue that such shares are not riskier and attribute the premium to cognitive errors and biases in human decision making. The purpose of this study is to determine, firstly, whether the value and size premium exist in South Africa during the period July 2006 to June 2012, which includes one of the worst equity market crises in history. Secondly, this study sets out to determine whether the premium earned on value and size strategies are adequately explained by the principles of rational finance theory. To provide evidence regarding the existence of the value premium and size effect, returns are analysed, cross-sectionally, on portfolios of shares sorted by value and size. For evidence of a rational explanation, returns are regressed on value and size variables, and the relative riskiness of value and small companies is analysed. The results show evidence of a value premium in portfolios of small companies, but not big companies. The size effect is found not to be statistically significant. While regressions do show significant relationships between value and size variables and returns, these variables are found not to be associated with higher levels of risk. The conclusion is that the evidence does not support a rational, risk based explanation of the returns
- Full Text:
- Date Issued: 2013
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