Consumer behaviour regarding stock market participation in South Africa
- Authors: Mbewe, Wise
- Date: 2020
- Subjects: Financial Literacy -- South Africa , Stock ownership -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50328 , vital:42107
- Description: South Africa (SA) has a highly sophisticated financial services sector that contributes significantly to the economy. A stock market forms a significant component of the financial sector of any economy. While the Johannesburg Stock Exchange (JSE) has managed to arouse interest of many South Africans, there appears to be apathy and inertia when it comes to actual participation in the stock market by South African consumers. Stock market non-participation is considered a “puzzle” in microeconomics and finance literature because it is not easy to explain the reason why many consumers, in spite of high stock returns, do not own listed shares. Thus, the primary objective of this study was to investigate consumer behaviour regarding stock market participation in SA by considering the antecedents and outcomes of stock market participation in SA.The study presented a theoretical literature review on the factors influencing stock market participation in SA. From the literature review, three sets of variables classified as independent variables, an intervening variable and dependent variables were identified. The independent variables (Demographic characteristics; Financial literacy; Investment risk tolerance; Communication; and Consumer trust) were identified as possibly influencing the intervening variable (Stock market participation) and ultimately the dependent variables (Client satisfaction and loyalty, Financial sustainability and Repurchase intentions). These variables were used to construct a hypothesised model and research hypotheses. The study further presented the research methodology (following a positivistic paradigm and quantitative research method), and the results of this study. In order to establish the influence of the independent variables on stock market participation, as well as ultimate influences on the dependent variables, an empirical investigation was conducted. Since it was not possible to reach all members of the target population, the population of this study was South African consumers located in four of the nine provinces, namely, Eastern Cape, Western Cape, Kwa-Zulu Natal and Gauteng. A sample of 510 respondents participated in the study.
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- Date Issued: 2020
Business problems facing potential emerging contractors in CIDB grades 5 to 7
- Authors: Pretorius, Albertus Johannes Hendrik
- Date: 2016
- Subjects: Building trades , Project management , Construction industry
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10948/3459 , vital:20432
- Description: Considering the vital part which the construction industry plays in the economy of South Africa, as well as the objectives of the reconstruction and development thereof, the failure of contractors, despite all the interventions to identify and eradicate the root of the problem, is a matter of great concern. In November 2000, the Construction Industry Development Board Act (2000) was promulgated which led to the inception of the cidb with a mandate to implement an integrated strategy for the reconstruction, growth and development of the construction industry. The matter of contractor development has been widely studied and investigated since the inception of the cidb in 2000. However, the purpose of this study was to focus on the business problems faced by Grade 5 to 7 CE / GB Potential Emerging Contractors, with regard to construction organisations that make the move from small to medium businesses. The intention was to contribute to the successful transition from small to medium businesses by means of structured initiatives. In order to achieve this, a new business strategy must be adopted. It was therefore necessary to extensively consider the surface and core competencies required for making the transition. Liquidity problems that the transition entails were explored, as well as contractor misconceptions with regard to contractor development. In the course of the study, unethical practices and entitlement issues experienced in the built environment and the effect of this on contractor success were explored. The study aimed to recommend a structured framework for co-ordination between assistance, mentorship, contractor needs, client departments, cidb NCDP best practice guidelines and the most important of all, self-empowerment. This study further endeavoured to find possible solutions regarding the assistance requirements, as well as self-empowering objectives for emerging contractors taking the challenging step from small to medium business and by implication, becoming sustainable contractor enterprises in Grades 6 to 8. Political imperatives need to be weighed against the high unemployment rate. The Gross Fixed Capital Formation (GFCF) indicates that there are not enough sustainable contracting opportunities to allocate to Contractor Development Programmes (CDPs). This is aggravated by the tendency that too many hopeful aspirant entrepreneurs, lacking construction surface and core competencies, are seeing the built environment as an easy industry to enter. Just less than 50% of cidb registered contractors exited the register of active contractors during the last ten years ending 2nd quarter 2015. 45% exited during the last five years. This indicates that there is a serious sustainability problem in the built environment. Considering the GFCF contractor opportunities there are too many cidb registered contractors. However, enterprise failure is not only an Emerging Contractor (EC) problem, but occurs across the board. A dangerous notion that the large national construction firms should no longer qualify for public contracts can have disastrous implications for an already embattled industry. Large national firms are the trend setters in the built environment, which coach the much needed construction surface and core competencies. If upgrading is the measure of success the current CDP statistics do not confirm that the strategic objectives of the National Contractor Development Programme (NCDP) are being achieved. All contractors, including black owned contractors, are faring substantially better than their EC counterparts participating in CDPs. Upgrading should carry less weight and sustainability and high performance should become the focus. A serious lack of construction surface and core competencies was identified. If contractor development is the objective the structure of the cidb grading system should be reviewed. It is recommended that the broad CDP hierarchical structure should streamlined and partly privatised to focus on the core strategic objective of contractor development.
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- Date Issued: 2016