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Retirement planning activities of mobile phone dealers

  • Authors: Kapp, Anton
  • Date: 2020
  • Subjects: Cell phone systems -- Retirement -- South Africa -- Planning
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/48257 , vital:40757
  • Description: The mobile phone industry is one of the most technologically-advanced industries in South Africa, however, little information is available concerning retirement planning activities of mobile phone dealers in this industry. As research into the area of retirement planning and retirement planning activities of mobile phone dealers in the telecommunications industry is thus required, this study intended to fill this gap. The main objective of the study was to investigate whether mobile phone dealers were planning for their retirement and the retirement planning activities they performed. The study also further investigated the retirement activities of the mobile phone dealers’ employees. A case study research in six phases was conducted and data was obtained from 18 participants using a semi-structured interview schedule. The interview guide was prepared to focus on three theoretical themes, namely, retirement activities for retirement, retirement activities at retirement and retirement activities after retirement. The rich qualitative data was transcribed and analysed using content analysis. Most of the participants were male and in the 51+ year age category. The analysis of the feedback from the participants suggested that one out of 18 (5.56%) participants could not retire, seven out of 18 participants (38.89%) participants did not plan to retire, while ten out of 18 (55.56%) had a planned retirement date. A small number of participants actively used the retirement planning activities for employees as a successful retention tool in their businesses in an environment where employee rotation was reported to be high. The study found that the majority of mobile phone dealers had planned and provided for their own retirement. The feedback and recommendations of this study show that employees in the mobile phone dealer businesses lack knowledge on the importance of retirement planning in their lives, and that retirement planning knowledge intervention programmes should be introduced.
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  • Date Issued: 2020

Revenue, Trade and Welfare Implications of the BRICS Free Trade Agreement on South Africa

  • Authors: Mayende, Nosiphiwo Andisa
  • Date: 2020
  • Subjects: Gross domestic product -- Statistics -- South Africa , International business enterprises -- Developing countries
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/50316 , vital:42105
  • Description: The analysis presented in the study is based on the World Integrated Trade Solution (WITS)/Software Market analysis and Restrictions on Trade (SMART) was used to assess the impacts of the BRICS free trade area (FTA) on South Africa’s revenue, trade and welfare. The findings of the study show that the BRICS FTA is expected to increase imports into South Africa from China, India, Brazil and Russia by $188 million, $469.6 million, $145 million and $19.7 million, respectively. In the same vein, the country is expected to have trade diversion totalling $886.86 million which are largely caused by China with $564.7 million dollars. The combined effects of trade creation and trade diversion, that is, total imports, is expected to lead $1.7 billion in imports surge as a result of BRICS FTA. With regard to the revenue effect, the WITS/SMART simulations indicate that South Africa will have a total fiscal revenue loss of US$1.926 billion if the BRICS FTA is implemented. Major losers include motor vehicles with a loss of US$235.6 million, footwear with US$168.6 million, garments with a loss of US$97 million and textile materials with a loss of $96 million. Overall, South Africa’s exports are expected to increase by $354 million thanks to the BRICS FTA. From the above analysis it is apparent that South Africa will both lose and benefit by joining the BRICS.
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  • Date Issued: 2020

Sectoral co-integration and portfolio diversification benefits: a business cycle examination of South African equity sectors

  • Authors: Hofisi, Tinashe S
  • Date: 2020
  • Subjects: Portfolio management -- South Africa , Investments -- South Africa , Investments, South African , Stocks -- South Africa
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/146379 , vital:38521
  • Description: The onset of globalisation and simultaneous changes in financial technology and financial reforms dissipated hurdles once faced in financial transactions among stock markets. Hence, stock markets around the world became increasingly integrated because there was a free flow of cross border investments. Consequently, international diversification diminished thereby undermining the ability of investors to diversify investments across borders. For that reason, recent literature on portfolio diversification is urging investors to shift their focus to domestic portfolio diversification as an alternative. On that account, this study aims to examine the co-integration and dynamic causalities between South African equity market sectors in order to ascertain the sectoral diversification opportunities available to domestic investors over time. The study was examined over the different phases of the business cycle as well as the full sample, i.e. 2004 – 2018, with a view to shedding light on the inter-sectoral diversification opportunities of domestic investors over the South African business cycle. The phases of the business cycle applied are a| expansion and boom; b| recession and recovery phase and c| stagnation phase. The Johansen co-integration and Granger-causality tests were employed. The hypothesis of the study is that, if sectors are not cointegrated, then diversification benefits can be reaped by constructing a portfolio that combines stocks from the respective sectors. On the whole, the findings of this study show that there are both long-run and short-run diversification opportunities across the different phases of the South African business cycle as well as the full sample. However, there are lesser diversification opportunities in the recession and recovery phase over both the long-run and short-run. These results indicate that domestic sectoral portfolio diversification is least effective when it is needed the most (i.e. in a period of heightened volatility such as recession and recovery phase). This study will contribute to the existing literature in two ways; firstly, to investors who intend to diversify their portfolios domestically rather than internationally and, secondly, after reasonably thorough research it was evident that there is scant literature on domestic sectoral diversification in South Africa. As a result, the study attempts to address this gap. Additionally, the essence of the business cycle in this study is to make investors aware of potential diversification opportunities when positioning their portfolios for the next shift in the business cycle.
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  • Date Issued: 2020

Statutory mergers as contemplated in the Companies Act, 2008: the applicability of the corporate rules contained in section 44 of the Income Tax Act, 1962

  • Authors: Shama, Natalie Anne
  • Date: 2020
  • Subjects: South Africa. Companies Act, 2008 , South Africa. Income Tax Act, 1962 , Consolidation and merger of corporations -- South Africa , Corporation law -- South Africa
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/144767 , vital:38377
  • Description: The purpose of this research is to determine the extent to which a statutory merger in terms of the Companies Act, 2008, may be accommodated by the provisions of an amalgamation transaction in terms of section 44 of the Income Tax Act, 1962. The research method adopted is a legal interpretative research approach. South African company law underwent significant reform with the introduction of the Companies Act, 2008. One of the fundamental areas for reform was the need for a mechanism to appropriately accommodate a corporate merger, and thus, what is referred to as a statutory merger was introduced into South African company law. What is notable is that the statutory merger has been crafted to apply across a variety of circumstances that may arise in commerce, thus offering wide versatility. On the other hand, the tax relief afforded in terms of the corporate roll-over provisions in the Income Tax Act is designed to facilitate corporate transactions on a tax neutral basis, whilst balancing the concessions these measures introduce and the potential for tax avoidance. Consequently, the tax relief applicable to an amalgamation transaction will only apply within strictly prescribed parameters. The research shows an ongoing effort by National Treasury to amend the provisions of the amalgamation transaction to better accommodate a statutory merger, but highlights that there are nevertheless certain conflicting purposes (policy) for each piece of legislation. For these reasons, the focus and parameters of a statutory merger and amalgamation transaction do not align perfectly. The key areas of inconsistency identified in this research are threefold, namely (i) the creation of a new company as a consequence of a statutory merger is not accommodated in an amalgamation transaction; (ii) the process of compensating the shareholders of the amalgamated company in an amalgamation transaction is not clearly contemplated in the statutory merger provisions; and (iii) mergers between a company and its shareholder currently present numerous complexities from both a company law and taxation perspective. The research concludes that the flexibility afforded under the statutory merger is largely minimised for parties who wish to simultaneously enjoy the tax relief afforded under an amalgamation transaction.
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  • Date Issued: 2020

The current nature of intra-regional trade in the proposed tripartite free trade area

  • Authors: Chibuta, Chisengele
  • Date: 2020
  • Subjects: Customs unions -- Africa, Southern -- Economic integration , Africa, Southern -- Economic policy , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions , Tripartite Free Trade Area , Free trade -- Africa, Southern
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/146744 , vital:38553
  • Description: This thesis examines and analyses the current nature of intra-regional trade between member states of the proposed Tripartite Free Trade Area in order to contribute to an understanding of the potential for intra-regional trade within the region to increase. Trade Complementarity Indexes were used to determine how well the structures of the three founding blocs’ major imports and exports match. The results show that there is a high degree of trade complementarity in the trade of the top 5 major products traded between the regional groups. With the proposed TFTA in place, high trade complementarity could lead to increased trade between the regional groups. Trade Intensity Indexes were used to determine how intensively the three founding blocs trade with one another. Results from the indexes help determine the extent to which the blocs currently view each other as important trading partners and the implications of this for the proposed TFTA. Results show that EAC and SADC as well as EAC and COMESA viewed each other as significant trading partners while SADC and COMESA did not for the majority of the years from 2001 to 2018. With the TFTA in place, intra-regional trade could be strengthened among the members who currently trade intensively because tariffs between them would be progressively eliminated as required by the TFTA Agreement. Revealed Comparative Advantage Indexes were used to gain insights on whether member states have any comparative advantage in their top 5 exports. Results from the indexes were used to determine whether member states have comparative advantage in similar or dissimilar major exports and the implications of this for the proposed TFTA. Results show that member states have revealed comparative advantage in similar products and these products present opportunities for joint-production among member states as well as sectors for product development once the proposed TFTA is in place. Revealed Trade Barrier Indexes were used to gain insights into the extent of ease of market access into each regional bloc’s market. Results from the indexes indicate whether major products imported from each other receive possibly discriminatory or preferential treatment. The results indicate that the majority of the top 5 imports sourced from each region receive preferential treatment. This indicates that there is ease of market access for the top 5 imports sourced from each other and this could promote increased intra-regional trade among member states in these product categories because tariff and non-tariff barriers to trade will be progressively eliminated once the TFTA is in place.
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  • Date Issued: 2020

The effect of company brand on the investment decisions of individual investors as mediated by behavioural finance biases in Nigeria

  • Authors: Okeja, Ogechukwu Donatu
  • Date: 2020
  • Subjects: Branding (Marketing) -- Nigeria , Business names -- Nigeria , Brand choice -- Nigeria -- Mathematical models , Consumer behavior -- Nigeria -- Mathematical models , Consumers' preferences -- Nigeria , Nigerian Stock Exchange
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/144015 , vital:38303
  • Description: Over the years, the financial sphere and its systematic process has transcended from one paradigm to another. Most prominent is the traditional finance paradigm dominating the financial sphere majorly throughout the 1960s and 1970s. The ideology and the foundation of the traditional finance paradigm was centred on the concept of rationality. Within the context of the current research, the traditional finance paradigm postulates that individuals in the process of making investment decisions, acquire and analyse all available information in the stock markets, upon which they make a rational investment decision. In other words, the traditional finance paradigm portrays individuals as perfectly informed, rational decision makers, capable of objectively solving complex problems –Homo economicus. However, research in the field of psychology gave rise to the questions and concerns that started to emerge in the 1980s concerning the realistic nature of the assumptions of the traditional finance paradigm. As opposed to the assumptions of traditional finance, these research show that it is impossible for investors to analyse the shares of all the listed companies in the market in order to make rational investment decisions due to the ambiguous nature of information available. In the behavioural finance paradigm individuals’ decision making are viewed to incorporate factors such as emotions, heuristics, experiences, intuition and perceptions. These factors in turn are seen to induce biases (such as availability bias and overconfidence) which leads to subjective decision making. The concept of behavioural finance is based on realistic outcomes of events in the financial sphere for example, the repeated occurrence of financial crises in an environment where all participants are assumed to be rational. The behavioural finance paradigm challenges the assumption of the traditional finance paradigm which is embedded on the concept of rationality. The purpose of the present research is to investigate whether brands of listed companies on the Nigerian Stock Exchange trigger behavioural finance biases in investment decisions of individual investors in Nigeria. More specifically, the aim of the present research was to establish relationships between the independent sub-variables of brand knowledge (brand awareness and brand image) and brand relationship (brand loyalty and brand attachment), the mediating sub-variables of behavioural finance biases (availability bias and overconfidence) and the dependent variable (investment decisions). To this end, objectives and hypotheses were formulated to guide the research. In order to achieve the stated objectives and test the formulated hypotheses, the present research adopted the positivistic paradigm and the methodological process involved quantitative methods. Data was acquired by means of an online questionnaire from members of the Independent shareholders association of Nigeria and individual investors whose contacts were provided by an independent broker (n= 182). The research instrument showed satisfactory levels of validity on all measures (between 0.40 and 0.89) and a relatively highly internal consistency for reliability with Cronbach’s alpha coefficient scores of between 0.81 and 0.93. Descriptive and inferential statistical analyses were performed. Descriptive statistics involved frequency distribution, mean and standard deviation. Inferential statistics involved Spearman’s rank correlation coefficient, Multiple linear regression analyses, T-test and ANOVA. Using Spearman’s rank correlation coefficient, results show that all variables were positively correlated. Results of the Multiple linear regression analyses performed, indicated that there are positive relationships between brand awareness and investment decisions; brand awareness and availability bias; brand loyalty and investment decisions; brand loyalty and overconfidence; overconfidence and investment decisions. Furthermore, Multiple linear regression analyses also indicated that availability bias mediates the relationship between brand awareness and investment decisions; and overconfidence mediates the relationship between brand loyalty and investment decisions. Results of the T-test indicated that there is no significant mean difference found in the responses of the different sex group (male and female) on independent, mediating and dependent variables. While ANOVA indicated that there is a significant difference found between the age category of respondents and brand loyalty; age category of respondents and investment decisions. Based on the results of the analyses performed, conclusions, contributions and recommendations were enumerated. Practical recommendations were made to the government, individual investors, companies and brand experts, professional brokers, financial analysts and economy developers.
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  • Date Issued: 2020

The effects of the stock and bond market on economic growth in South Africa (2003-2017)

  • Authors: Faiers, Jarryd Brad
  • Date: 2020
  • Subjects: Capital market -- South Africa , Economic development -- Environmental aspects -- South Africa
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/48102 , vital:40486
  • Description: Using quarterly data from 2003:Q3 to 2017:Q1, this study investigates the effect of the stock and bond markets on economic growth in South Africa. The variables used in the study pertain to South Africa and include the JSE All-Share Index, real effective exchange rate, bond market growth, investment expenditure, inflation rate, government expenditure and gross domestic product. The empirical study is guided by an Autoregressive Distributed Lag (ARDL) model approach which includes unit root tests for stationarity, bounds tests for cointegration and causality tests using the long run and short run error correction models. Diagnostic tests and stability tests are performed on the various econometric models. Tests include the Jarque-Bera test, Ramsey Reset Test, Whites test, CUSUM and CUSUM square test. The findings suggest that the stock market growth and bond market growth have displayed significantly different results with regards to their effects on economic growth. Stock market growth has had a positive impact on economic growth in the long run, whilst growth and development in the bond market does not have a statistically significant relationship with economic growth in the long run. The study provides a solid foundation for establishing the effects of the stock and bond market on economic growth.
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  • Date Issued: 2020

The impact of South African monetary policy on output and price stability in Namibia

  • Authors: William, Anna Martha Tandakos
  • Date: 2020
  • Subjects: Common Monetary Area (Organization) , Monetary unions -- Africa, Southern , Monetary policy -- South Africa , Monetary policy -- Namibia , Repurchase agreements -- South Africa , Repurchase agreements -- Namibia , Inflation (Finance) -- South Africa , Inflation (Finance) -- Namibia , Namibia -- Economic conditions , Transmission mechanism (Monetary policy)
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/167709 , vital:41505
  • Description: Namibia is a member country of the Common Monetary Area (CMA) with Lesotho, Swaziland and South Africa. South Africa is the anchor country to which the smaller member states have surrendered monetary policy authority. This thesis therefore examines the empirical relationship between the South Africa repo rate (SArepo) on the one hand and Namibia’s repo rate (Namrepo), Prime Lending Rate (PLR), Private Sector Credit Extension (PSCE), Consumer Price Index (CPI) and Gross Domestic Product (GDP) on the other hand. The credit channel of the monetary policy transmission mechanism informs the theoretical foundation of the thesis. Vector Autoregression modelling, variance decomposition and impulse response functions were used to explore the nature and strength of the relationship between the SArepo and said variables in Namibia. This thesis used quarterly data for the period 2003 to 2017. The variation in the Namrepo was predominantly explained by the SArepo, which confirmed that the Namrepo strongly followed the SArepo. The impulse response function results found that the impact of a contractionary monetary policy shock (an increase in the SArepo) lasted for up to six quarters before the effect started to fade. The Namrepo exhibited a positive response to an increase in the SArepo, although the magnitude of the response started to fade after the third quarter. The PLR, as a representative of market rates in Namibia, also exhibited a positive response to an increase in the SArepo. The results were similar for the Namrepo and the PLR because changes to the NamRepo are passed through immediately to the market interest rates. On the real variables, the study found that a contractionary monetary policy shock initiated in South Africa resulted in an increase in inflation in Namibia of less than 0.4 percent, whereas output declined by less than 1.0 percent. Interestingly, a Namibia (domestic) contractionary monetary policy shock resulted in a decline in prices of less than 0.4 percent. GDP, on the other hand, exhibited a positive response to a contractionary monetary shock, with an increase of less than 2.0 percent in the first four quarters of the period observed. The results reflected that a contractionary monetary policy shock from South Africa was more effective with regard to its impact on GDP; however, a domestic monetary policy shock was more effective at impacting on domestic inflation compared to the impact from South Africa.
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  • Date Issued: 2020

The political ecological economics of coal mining and water resources: a participatory economic valuation approach in Carolina, Mpumalanga

The predictive ability of the yield spread in timing the stock exchange: a South African case

  • Authors: Cook, Jenna
  • Date: 2020
  • Subjects: Stocks -- Mathematical models , Probits , Johannesburg Stock Exchange
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/147025 , vital:38586
  • Description: The use of the yield curve in forecasting economic recessions is well established in the literature. A new avenue of use for the yield curve has emerged in the form of using it to forecast bull and bear stock markets. This has the potential to change how investors manage portfolios. A dynamic market-timing strategy would allow investors to shift out of or in to stock markets based on the probability of bear stock market in the future. The relationship between the yield curve and the stock market is tested using an adapted probit model. This has proven positive with encouraging results for the US, India and Spain. This is tested for South Africa using the adapted probit model and the SA yield spread. Bear stock markets are identified on the JSE and forms part of the probit modelling process. Bear markets are identified using a six- and four-month criteria. As South Africa is a small, open and developing economy, the probit is also modelled using the US yield spread. The three probit models do not appear to track bear markets well. This is substantiated through the Henriksson-Merton parametric model test which tests for market timing ability. The results for the SA yield spread using both bear market criteria do not show market timing ability, however, the SA and US yield spread model does show potential market timing ability.
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  • Date Issued: 2020

The primacy of illicit financial flows (IFFs) in developing countries: a comparative study analysis of South Africa and China

  • Authors: Mahlaba, Asande Cikizwa
  • Date: 2020
  • Subjects: Money -- Developing countries , Transfer pricing -- South Africa , Developing countries -- Economic conditions , Tax evasion -- China , Tax evasion -- South Africa
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/147435 , vital:38636
  • Description: The main objective of this study was to question and investigate the primacy of illicit financial flows (IFFs) in developing countries, specifically focused on two countries namely China and South Africa. Africa is estimated to have lost approximately $1 trillion to IFFs over the last 50 years, which exceeds the financial assistance that these nations needed over the same period. For years. Africa has been the feeding ground for exploitation and resource plunder, and the narrative has always been Africa is underdeveloped because of this crime. Although this statement holds true in most African countries, what this paper seeks to do is to question whether capital flight, IFFs and more specifically tax evasion and tax haven activity are the reason for the deterioration of African economies or are IFFs perpetuated by economies with unsustainable growth paths. IFFs are an important factor when it comes to obstacles of economic growth. But are they the cause or effect? A very strong case can be made that they are the latter however, it is beyond the scope of this article to resolve this question. Its purpose is merely to assert that the question is a valid one and that presuming the answer could divert attention from the real question of economic development. This study contextualized the way in which IFFs are currently viewed in the world economic system according to the two approaches to development finance, and discussed modern monetary theory as an extension off these theories. Due to the nature of the study, the methodology employed is a case study approach between China and South Africa by means of extensive numerical and document analysis. Upon conducting this analysis on the primacy of illicit financial flows in developing countries there was difficulty in measuring IFFs. The reason for this is because IFFs have a range of estimates so it was very difficult to produce precise and accurate results. The key findings of this paper were that there seems to be some kind of parallel between developing countries with large volumes of illicit financial outflows, and a dependency these countries have on external debt. This means it seems that weak economies, that are highly dependent on external debt and have large amounts of this debt, seem to have the largest volumes of illicit financial outflows. Weak regulation, high levels of debt and liberalised trade markets seem to be contributing factors to the degree to which companies evade taxes and partake in tax haven activity in these regions. Another key finding was that in 2012, despite China being ranked number one in the the countries which have the largest amounts of outflows on average, it still managed to achieve large amounts growth in the last 20 years. Indicating that there is some form of indication that IFFs could be viewed as symptomatic of weak financial systems and weak economies, instead of IFFs being the core of the problem.
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  • Date Issued: 2020

The relationship between export diversification, export concentration and economic growth

  • Authors: Mchani, Sibusisiwe
  • Date: 2020
  • Subjects: Exports Economic development
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/49670 , vital:41769
  • Description: Export diversification on economic growth has been a controversial issue in the empirical literature for a long time. This study examined the role of export diversification and export concentration on economic growth in the top ten trading countries in Africa and top ten trading countries in the world. The study used annual time series data for the period covering 1995 to 2014 and employed a PMG (Pooled Mean Group) Model to determine the effects of export concentration and export diversification and possible factors that affect it on economic growth. The estimation results attest to a positive effect of export diversification and a negative effect of export concentration on economic growth in the top ten trading countries in the world. However, for the top ten trading countries in Africa, the results show that export diversification is negatively related to economic growth, while export concentration positively affects economic growth. These results hold even when the DOLS and FMOLS are employed establishing their robustness. The study further shows that other control variables such as employment and government spending positively affect economic growth, while human capital and investment negatively affects economic growth in Africa. In the top ten trading countries in the World, government expenditure and investment are significant positive determinants of economic growth. It is recommended that governments in Africa countries should promote export diversification together with government expenditure, and pursue policies that will attract foreign direct investment into growth–enhancing productive sectors of their economies
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  • Date Issued: 2020

The South African income tax implications of a Stokvel

  • Authors: Matshego, Katlego
  • Date: 2020
  • Subjects: Rotating credit associations -- South Africa. , Taxation -- South Africa , Tax deductions -- South Africa
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/143094 , vital:38201
  • Description: The term “Stokvel” originates from the rotating cattle auctions of English settlers in the Eastern Cape during the nineteen century. A Stokvel is defined as a credit union where a group of people agree to contribute a fixed amount of money to a common pool and is referred to as a rotating savings and credit association, where the contributions to a fund are given in whole or in part to each member. The goal of the thesis was to determine the “gross income” implications of the fund and its members, as well the deductibility of their expenses. An interpretative research approach was used in the research as it sought to understand and describe. No interviews were conducted for this research and the data used for the research are publicly available. The tax implications of five different types of a Stokvel were considered in relation to the research goals through the application of legislation and case law principles. The study established that a collection burial society, where funds are contributed after death, does not beneficially receive funds and it is not entitled to any deductions. The same applies to the member of that society. A contributing burial society, where funds are contributed over time, beneficially receives funds, which are included in “gross income”, and qualifies for deductions. The receipt by the member is exempt and deductions are prohibited by section 23(f). An entertainment Stokvel does not receive the contributions on its own behalf and benefit. No deductions are available to it. However, the member beneficially receives the contributions from the Stokvel, which are included in “gross income”, and qualifies for deductions. A purchasing power group, where items are purchased on behalf of members, does not receive the funds beneficially and no deductions are available to it. The members simply receive the goods they have paid for. Lastly an investment Stokvel, which invests contributions for the members, beneficially receives contributions and qualifies for various deductions. The member receives the share of income from the Stokvel for his/her own benefit. However, no deductions are available in respect of contributions.
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  • Date Issued: 2020

The value of economic capital as an indicator to protect prospective and existing ordinary shareholders

  • Authors: Chonzi, Tendai Day
  • Date: 2020
  • Subjects: Banks and banking -- Risk management -- South Africa , Financial services industry -- Risk management -- South Africa , ABSA Bank , FirstRand Limited , Nedbank , Standard Bank Limited , Capitec Bank (South Africa)
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/145807 , vital:38468
  • Description: South Africans banking sector is one of the most dominating banking sectors in Africa. The banking sector is privately owned and involves a lot of different stakeholders, who risk losing their investments. One of the stakeholders who are the bottom of the repayment chain are existing ordinary shareholders because they risk losing all their investment in the result of bankruptcy, liquidity crises or the inability of the bank to repay their shareholders. Regulators in the banking sector only protect the depositor and the stability of the banking sector but not ordinary shareholders. An internal supervisory measure called economic capital has recently received more attention because of its aim to protect ordinary shareholders and thus, existing and prospective shareholders can use its value as a protective indicator. Economic theory assumes that the higher the value of economic capital (the lower the economic capital shortfall), the lower the return on investment for existing ordinary shareholders. The aforementioned shows a trade-off between protection (economic capital) and returns. Literature by Larsson (2009) further suggests that banks are always reluctant with implementing internal measures to protect themselves because of the good regulatory regime in the sector, some banks think that they are “too big to fail” and the fact that the reserve banks are always on the standby as a bailout. The purpose of this research is to examine which of the top five commercial banks in South African actively protect their existing ordinary shareholders using the value of economic capital and possibly attract prospective ordinary shareholders, locally and internationally. The banks under study are Absa, Capitec, FirstRand, Nedbank and Standard Bank over ten years, starting from June 2009 to May 2019 and in monthly frequency. The observations totalled 120 and two models that are under the Return Series Method were in used, namely; Historical Simulation Model and Variance Covariance Model. Both models, although they were small deviations in the value of economic capital, concluded that Standard Bank protects its existing ordinary shareholders the most, followed by FirstRand, then Absa and last is Nedbank. Capitec was the only bank, after one financial shock that could not protect its existing ordinary shareholders. Moreover, evidence in the study shows a trade-off between economic capital and return on investment in the case of Capitec and Standard Bank. Standard Bank had the highest value of economic capital and second-lowest return on investment, while Capitec had the highest return on investment and lowest value of economic capital. The significant policy implication of the research is that financial institution needs to strike a balance between protection and profits; thus, a way of protecting various stakeholders. Financial shocks have proven that regulatory measures are weak and they are is need for internal measures (economic capital) which indicate how financial institution can sustain in such cases.
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  • Date Issued: 2020

Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay

  • Authors: Madlwabinga, Zolani Maxwell
  • Date: 2020
  • Subjects: Tourism -- Social aspects -- South Africa -- Jeffrey's Bay
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/48786 , vital:41072
  • Description: In the context of tourism, the community is seen as one of many stakeholders, with the other stakeholders being the tourism product owners, the government and tourism marketers. An understanding of a particular community’s perceptions and attitudes and how these perceptions are shaped concerning tourism development is important for decision-makers. The knowledge and involvement of the community in tourism related matters often determine the success of tourism development. The key element of effective planning for tourism is involving the local community and paying attention to their ideas, needs and aspirations, regarding tourism development in their community. Therefore, the aim of this study was to determine Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In order to address this aim, the following research objectives were formulated:  To conduct a comprehensive literature review on residents’ perceptions of the socio-cultural impacts of tourism;  To ascertain the levels of knowledge of Tokyo Sexwale residents about tourism; and  To investigate the Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In an attempt to address the objectives of this study, a quantitative research approach was adopted. Using the non-probability sampling method, specifically, convenience sampling, the data was collected by conducting the fieldwork in Tokyo Sexwale community in Jeffrey’s Bay from the beginning of June 2019 until the end of August 2019. As a result, completed questionnaires were collected from a sample size of 400 respondents. The findings revealed that 34.7 percent of the respondents were young and aged between 26-35 years. Twenty-seven (27.0) percent of the respondents have been residing in the community for six to ten (6-10) years. A substantial number of respondents had completed a secondary qualification (75.3 percent). The findings further revealed that the majority of respondents were knowledgeable about the statement “Tourism includes holiday trips, travelling away from home for recreational and business purposes” (91.5 percent). Half of the respondents indicated that they interact with tourists more frequently when they visit their area, purchasing goods and services (50.0 percent). With respect to positive and negative socio-cultural impacts of tourism, the findings revealed that 63.5 percent of respondents indicated that tourism has improved the image of Jeffrey’s Bay, while 49.5 percent of respondents indicated that traditional culture is being commercialised as a result of tourism. This study recommends that the local government and tourism businesses in Jeffrey’s Bay should implement community tourism awareness programmes to educate local residents about the potential positive and negative socio-cultural impacts of tourism. This will ensure that local residents of Tokyo Sexwale community are aware of such impacts and reject tourism developments that will be harmful to their community and support those that will benefit them.
  • Full Text:
  • Date Issued: 2020

Water footprint and economic water productivity of citrus production: a comparison across three river valleys in the Eastern Cape Milands

  • Authors: Danckwerts, Lindsay
  • Date: 2020
  • Subjects: Water in agriculture -- South Africa -- Eastern Cape , Water consumption -- South Africa -- Economic aspects , Water supply, Agricultural -- South Africa -- Eastern Cape , Citrus fruit industry -- South Africa -- Eastern Cape
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/141064 , vital:37941
  • Description: South Africa is a semi-arid, water scarce country. The nation has suffered a spate of severe droughts in several regions in recent years, which have significantly impacted the country’s economy. Global warming, population growth, and rising demand for water intensive products are only expected to intensify water supply problems in the future. The agricultural industry is the largest consumer of water in South Africa, accounting for the majority of total surface water withdrawals. As such, the agricultural sector is faced with complex and difficult management decisions in the face of a potential water supply crisis. The water footprint (WF) and economic water productivity (EWP) of citrus production across three river catchments located in the Eastern Cape Midlands (situated in the vicinity of the settlements of Adelaide, Cookhouse and Fort Beaufort respectively) were calculated and compared. In the long-term average (LTA), blue WF weighted across all three regions accounted for the greatest proportion of total WF (53%), followed in turn by green and grey WF (30% and 17% respectively). LTA blue and grey WF was lowest in the Adelaide region, while green WF was smallest in the Fort Beaufort region. Blue, green and grey WF were found to be greatest in the Cookhouse region. LTA EWP was greatest in the Fort Beaufort region and smallest in the Adelaide region. Of all variety groups assessed, lemons were found to have the lowest LTA crop water use and blue, green and grey WF when considering citrus production averaged across all three study regions. Satsumas has the second smallest LTA blue, green and grey WF, followed by navels, mid-season mandarins, and finally, late mandarins. Lemons had the greatest LTA EWP of all varieties, followed in turn by satsumas, late mandarins, mid-season mandarins and navels. Blue crop water use was consistently lowest in the designated wet year and highest in the dry year. However, this same trend was not necessarily true for WF findings. WF and EWP are useful indicators of water use which can be used to help guide complex water management decisions. However, these indicators are single-factor productivity measures applied in a multi-factor environment. It is therefore important that factors outside of water use are considered when making water management decisions. Moreover, it is important to examine the impact that the various components making up WF and EWP have on the resultant figures, rather than merely considering the superficial results themselves. Factors such as CWU, orchard maturity, crop choice, potential yield, climate, irrigation system, economic return, water allocation and water availability should all be taken into account.
  • Full Text:
  • Date Issued: 2020

A blended learning toolkit that accommodates multiple learning styles

  • Authors: Mills, Steven Christopher
  • Date: 2019
  • Subjects: Blended learning , Learning strategies Learning
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/30452 , vital:30945
  • Description: The purpose of this study was to identify how blended learning can be designed and incorporated to accommodate multiple learning styles within modules in the Department of Computing Sciences. A design theory was created through an analysis of literature and exploration into the backgrounds of students and lecturers within the Department of Computing Sciences. The design theory is: Blended learning can be a useful approach to accommodate multiple learning styles. Guidelines, and by extension a toolkit, facilitate the development of blended learning and provide effective tools to enable lecturers to successfully incorporate blended learning into their modules. Design-Based Research (DBR) was followed in this study, using a mixed-methods and iterative approach to determine the accuracy of the design theory. For the first iteration, the toolkit was implemented in two modules within the Department of Computing Sciences and for the second iteration, four modules. DBR produces a theoretical contribution and a practical artefact. The most important theoretical contributions are the design theory and guidelines for incorporating blended learning that accommodates multiple learning styles. The practical artefacts are the toolkit and tools therein. The toolkit, which was accessed via a website, guides lecturers through the process of incorporating blended learning that accommodates multiple learning styles and provides them with the necessary tools to do so. The design theory was proven in the evaluation that used a questionnaire to understand the lecturers’ experiences regarding the toolkit and the design theory. Therefore, the guidelines for applying blended learning is a useful approach to address multiple learning styles.
  • Full Text:
  • Date Issued: 2019

Academic performance and cognitive critical thinking skills of certificate in theory of accounting students at Nelson Mandela University

  • Authors: Pienaar, Joné
  • Date: 2019
  • Subjects: Academic achievement , Thought and thinking , Cognitive learning , Educational tests and measurements , Academic achievement -- South Africa -- Port Elizabeth -- Evaluation
  • Language: English
  • Type: Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10948/43196 , vital:36759
  • Description: With advances in computerisation, the skills that accountants need to remain relevant in an ever-changing world deserves consideration. Literature indicates that “critical thinking skills” form part of the required skill set. However, the development and assessment of critical thinking skills in the accounting curriculum has not received sufficient attention. This study focuses on evaluating the assessment of accounting students’ critical thinking skills, specifically those aspiring to be CAs (SA), who are in their final year of university education. The primary objective of this study is to establish whether a relationship exists between cognitive critical thinking skills and academic performance of CTA students at Nelson Mandela University. The research followed a positivistic mixed method research methodology. Using the Watson-Glaser Critical Thinking Appraisal (W-GCTA), the cognitive critical thinking ability of the sample (CTA students (n=60)) was determined and compared to their academic performance using various statistical techniques. Since the proxy for academic performance was the final marks of which the year-end examination forms a very large component, the examiners of each of the modules comprising the CTA programme also completed a questionnaire wherein they indicated the critical thinking skills assessed, and the assessment characteristics used in the examination papers. The results indicate that a relationship exists between cognitive critical thinking skills and academic performance of the sample in three of the four modules of the CTA programme: Accounting, Taxation and Estate Planning and Management Accounting. The questionnaire feedback indicates that cognitive critical thinking skills were assessed in the CTA programme to some extent, but that focus was placed on skills not assessed by the W-GCTA.
  • Full Text:
  • Date Issued: 2019

Active vs passive portfolio management: an empirical analysis of selected South African equity funds

  • Authors: Mphahlele, Phaswane Moatlegi
  • Date: 2019
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/97846 , vital:31493
  • Description: Expected release date-April 2020
  • Full Text: false
  • Date Issued: 2019

An access control model for a South African National Electronic Health Record System

  • Authors: Tsegaye, Tamir Asrat
  • Date: 2019
  • Subjects: Medical records -- Data processing , Medical records -- Data processing -- Safety measures , Medical records -- Data processing -- South Africa , Medical records -- Data processing -- Access control , Medical informatics , Medical records -- Management -- South Africa , Health services administration -- South Africa
  • Language: English
  • Type: text , Thesis , Masters , MCom
  • Identifier: http://hdl.handle.net/10962/97046 , vital:31390
  • Description: Countries such as South Africa have attempted to leverage eHealth by digitising patients’ medical records with the ultimate goal of improving the delivery of healthcare. This involves the use of the Electronic Health Record (EHR) which is a longitudinal electronic record of a patient’s information. The EHR is comprised of all of the encounters that have been made at different health facilities. In the national context, the EHR is also known as a national EHR which enables the sharing of patient information between points of care. Despite this, the realisation of a national EHR system puts patients' EHRs at risk. This is because patients’ information, which was once only available at local health facilities in the form of paper-based records, can be accessed anywhere within the country as a national EHR. This results in security and privacy issues since patients’ EHRs are shared with an increasing number of parties who are geographically distributed. This study proposes an access control model that will address the security and privacy issues by providing the right level of secure access to authorised clinicians. The proposed model is based on a combination of Role-Based Access Control (RBAC) and Attribute-Based Access Control (ABAC). The study found that RBAC is the most common access control model that is used within the healthcare domain where users’ job functions are based on roles. While RBAC is not able to handle dynamic events such as emergencies, the proposed model’s use of ABAC addresses this limitation. The development of the proposed model followed the design science research paradigm and was informed by the results of the content analysis plus an expert review. The content analysis sample was retrieved by conducting a systematic literature review and the analysis of this sample resulted in 6743 tags. The proposed model was evaluated using an evaluation framework via an expert review.
  • Full Text:
  • Date Issued: 2019
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