A development training support model for entrepreneurs in South Africa
- Authors: Ward, Graham Bernard
- Date: 2017
- Subjects: Entrepreneurship -- South Africa , Entrepreneurship -- Training of -- South Africa new business enterprises -- South Africa
- Language: English
- Type: Thesis , Doctoral , DBA
- Identifier: http://hdl.handle.net/10948/13546 , vital:27221
- Description: Recent years have seen the decline of entrepreneurial activity in South Africa. This is especially concerning in that, officially, 27.7% of South Africans are unemployed. The unofficial unemployment figures are closer to 50%. The South African economy is battling to recover from the world economic crisis of 2009/10, putting pressure on government to alleviate growing unemployment and curtail social unrest. Furthermore, a South African economy which thrives on entrepreneurial activity will become more competitive from a global perspective. The purpose of this study is to contribute to the promotion and development of entrepreneurship in South Africa, in an effort to combat the problems listed above. In order to achieve this purpose, the objective was to develop and test a model which could be used in the development of entrepreneurs. The rationale is that, if the factors which affect entrepreneurship could be identified and tested, then recommendations could be made which could promote the development of entrepreneurs in South Africa. The approach was as follows: Perform a literature review which would cover both global and local (South African) approaches to developmental training for entrepreneurs; Develop a theoretical model comprising of identified factors which formed the base for the data collection; Develop a measuring instrument to test the relationships described in the theoretical model empirically; • Empirically test the proposed model and suggested hypotheses by means of sourcing data from entrepreneurs in South Africa and statistically analyse the sourced data; Formulate the final theoretical model to support the research objectives; and Propose recommendations based on the results of the statistical analysis. The focus of the literature study was on two main areas: trends in global developmental training, and South African initiatives to stimulate developmental training of entrepreneurs. The literature on global entrepreneurial development highlights two distinct categories for entrepreneurial development: 1) entrepreneurial education and 2) entrepreneurial training. The literature study concerning South African methodologies for developmental training for entrepreneurs, focused on current methods employed and highlighted areas on which improvements should be concentrated. From the literature study on both global and South African developmental training methods, ten independent variables (entrepreneurial culture; socio-emotional attributes; acquiring business skills; industry experience; opportunity identification; regulatory barriers; economic barriers; outside advice; formal training and informal training were identified as factors affecting entrepreneurial developmental training. All the variables were hypothesised as they were perceived to influence significantly the dependent variables: perceived global success as an entrepreneur and perceived individual success as an entrepreneur. These factors, clearly defined and operationalised, were structured in a questionnaire which was sent randomly to South African business owners. Data were collected from 332 respondents and subjected to various statistical analysis techniques. Firstly, Exploratory Factor Analysis (EFA) was conducted to assess the discriminant validity of the research instrument. Secondly, Cronbach’s alpha coefficients were calculated for each of the identified factors to confirm the reliability of the research instrument. The significance of the hypothesised relationships in the revised model were then tested by using the statistical technique known as Structural Equation Modelling (SEM) This study contributed to this specific field of knowledge.
- Full Text:
- Date Issued: 2017
- Authors: Ward, Graham Bernard
- Date: 2017
- Subjects: Entrepreneurship -- South Africa , Entrepreneurship -- Training of -- South Africa new business enterprises -- South Africa
- Language: English
- Type: Thesis , Doctoral , DBA
- Identifier: http://hdl.handle.net/10948/13546 , vital:27221
- Description: Recent years have seen the decline of entrepreneurial activity in South Africa. This is especially concerning in that, officially, 27.7% of South Africans are unemployed. The unofficial unemployment figures are closer to 50%. The South African economy is battling to recover from the world economic crisis of 2009/10, putting pressure on government to alleviate growing unemployment and curtail social unrest. Furthermore, a South African economy which thrives on entrepreneurial activity will become more competitive from a global perspective. The purpose of this study is to contribute to the promotion and development of entrepreneurship in South Africa, in an effort to combat the problems listed above. In order to achieve this purpose, the objective was to develop and test a model which could be used in the development of entrepreneurs. The rationale is that, if the factors which affect entrepreneurship could be identified and tested, then recommendations could be made which could promote the development of entrepreneurs in South Africa. The approach was as follows: Perform a literature review which would cover both global and local (South African) approaches to developmental training for entrepreneurs; Develop a theoretical model comprising of identified factors which formed the base for the data collection; Develop a measuring instrument to test the relationships described in the theoretical model empirically; • Empirically test the proposed model and suggested hypotheses by means of sourcing data from entrepreneurs in South Africa and statistically analyse the sourced data; Formulate the final theoretical model to support the research objectives; and Propose recommendations based on the results of the statistical analysis. The focus of the literature study was on two main areas: trends in global developmental training, and South African initiatives to stimulate developmental training of entrepreneurs. The literature on global entrepreneurial development highlights two distinct categories for entrepreneurial development: 1) entrepreneurial education and 2) entrepreneurial training. The literature study concerning South African methodologies for developmental training for entrepreneurs, focused on current methods employed and highlighted areas on which improvements should be concentrated. From the literature study on both global and South African developmental training methods, ten independent variables (entrepreneurial culture; socio-emotional attributes; acquiring business skills; industry experience; opportunity identification; regulatory barriers; economic barriers; outside advice; formal training and informal training were identified as factors affecting entrepreneurial developmental training. All the variables were hypothesised as they were perceived to influence significantly the dependent variables: perceived global success as an entrepreneur and perceived individual success as an entrepreneur. These factors, clearly defined and operationalised, were structured in a questionnaire which was sent randomly to South African business owners. Data were collected from 332 respondents and subjected to various statistical analysis techniques. Firstly, Exploratory Factor Analysis (EFA) was conducted to assess the discriminant validity of the research instrument. Secondly, Cronbach’s alpha coefficients were calculated for each of the identified factors to confirm the reliability of the research instrument. The significance of the hypothesised relationships in the revised model were then tested by using the statistical technique known as Structural Equation Modelling (SEM) This study contributed to this specific field of knowledge.
- Full Text:
- Date Issued: 2017
A framework to implement social entrepreneurship activities in higher education institutions
- Authors: Tai Hing, Paul
- Date: 2017
- Subjects: Social entrepreneurship -- Education (Higher) -- South Africa Business enterprises -- Education (Higher) -- South Africa , Social responsibility of business -- Education (Higher) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15923 , vital:28291
- Description: The development of social enterprises are recognised by the broader community as an effective tool for addressing social problems. As a result, the development and emergence of social enterprise sectors have taken various paths in different geographic regions in the world. For the African context, the withdrawal of funding from the state as a result of external conditions imposed by foreign actors as well as the institutional support provided by foreign aid organisations were the key drivers behind the emergence of the social enterprise sector in Africa. Within the South African context, job creation and poverty alleviation are pressing priorities, both politically and economically, so providing an environment that is conducive for the development of social enterprises or social entrepreneurship. Implementing social entrepreneurship activities in higher education is important as universities are under increasing pressure to become responsive to student needs, and there is a growing scrutiny of their engagement, supportive, and economic role in local communities. By supporting local communities, institutions can broaden the student experience and create an economic impact. In addition, as the student experience entails more than curricular learning opportunities, social entrepreneurship practices are an important dimension for higher learning. This study used a series of case studies of social entrepreneurship projects that were implemented in the classroom of the first and second year Management students on the 2nd Avenue Campus of the Nelson Mandela Metropolitan University (NMMU). These case studies highlighted the possibilities of how classroom space and students can be utilised to set-up social enterprises to improve the conditions of the many disadvantaged and disenfranchised communities within which the university functions. At the same time, learning takes place through the practical application of the theory taught in the classroom. From the seven case studies highlighted in the study, a framework was developed to implement social entrepreneurship activities in the context of higher education. This framework includes five steps, namely, motivation and inspiration to develop social enterprises in the classroom, student involvement in creating and developing a product for sale, use of appropriate teaching strategies to provide the learning experience, provision of adequate mentoring and control of the social enterprises and, finally, assessment of the social enterprises. With the funds generated from the projects, communities benefited, for example, the upgrading of community facilities. Educators in higher education institutions are responsible for developing future business leaders. Given the increasing importance of social issues, especially poverty, this educational experience ensured that the students were made aware of the importance of using the powers yielded by business to solve some of these social issues, and thus contribute to the improvement of the South African economy. As a result, social entrepreneurship has a role to play in addressing social and economic issues. For example, the entrepreneurship part of the business will help to alleviate the unemployment strain placed upon the South African economy, whereas, the social part of the business will assist in alleviating poverty. Regarding the implementation of social entrepreneurship activities within the environment of higher education, it is evident from the case studies that successful social enterprises can be established within the classroom and sufficient funds generated to effect positive change within disadvantaged communities. Other higher education institutions in South Africa may find the implementation of social entrepreneurship activities more problematic as they might not possess a similar university culture as the NMMU.
- Full Text:
- Date Issued: 2017
- Authors: Tai Hing, Paul
- Date: 2017
- Subjects: Social entrepreneurship -- Education (Higher) -- South Africa Business enterprises -- Education (Higher) -- South Africa , Social responsibility of business -- Education (Higher) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15923 , vital:28291
- Description: The development of social enterprises are recognised by the broader community as an effective tool for addressing social problems. As a result, the development and emergence of social enterprise sectors have taken various paths in different geographic regions in the world. For the African context, the withdrawal of funding from the state as a result of external conditions imposed by foreign actors as well as the institutional support provided by foreign aid organisations were the key drivers behind the emergence of the social enterprise sector in Africa. Within the South African context, job creation and poverty alleviation are pressing priorities, both politically and economically, so providing an environment that is conducive for the development of social enterprises or social entrepreneurship. Implementing social entrepreneurship activities in higher education is important as universities are under increasing pressure to become responsive to student needs, and there is a growing scrutiny of their engagement, supportive, and economic role in local communities. By supporting local communities, institutions can broaden the student experience and create an economic impact. In addition, as the student experience entails more than curricular learning opportunities, social entrepreneurship practices are an important dimension for higher learning. This study used a series of case studies of social entrepreneurship projects that were implemented in the classroom of the first and second year Management students on the 2nd Avenue Campus of the Nelson Mandela Metropolitan University (NMMU). These case studies highlighted the possibilities of how classroom space and students can be utilised to set-up social enterprises to improve the conditions of the many disadvantaged and disenfranchised communities within which the university functions. At the same time, learning takes place through the practical application of the theory taught in the classroom. From the seven case studies highlighted in the study, a framework was developed to implement social entrepreneurship activities in the context of higher education. This framework includes five steps, namely, motivation and inspiration to develop social enterprises in the classroom, student involvement in creating and developing a product for sale, use of appropriate teaching strategies to provide the learning experience, provision of adequate mentoring and control of the social enterprises and, finally, assessment of the social enterprises. With the funds generated from the projects, communities benefited, for example, the upgrading of community facilities. Educators in higher education institutions are responsible for developing future business leaders. Given the increasing importance of social issues, especially poverty, this educational experience ensured that the students were made aware of the importance of using the powers yielded by business to solve some of these social issues, and thus contribute to the improvement of the South African economy. As a result, social entrepreneurship has a role to play in addressing social and economic issues. For example, the entrepreneurship part of the business will help to alleviate the unemployment strain placed upon the South African economy, whereas, the social part of the business will assist in alleviating poverty. Regarding the implementation of social entrepreneurship activities within the environment of higher education, it is evident from the case studies that successful social enterprises can be established within the classroom and sufficient funds generated to effect positive change within disadvantaged communities. Other higher education institutions in South Africa may find the implementation of social entrepreneurship activities more problematic as they might not possess a similar university culture as the NMMU.
- Full Text:
- Date Issued: 2017
A framework to incorporate sustainability into South African consumer protection policy
- Authors: Best, Laura Anne
- Date: 2017
- Subjects: Consumer protection -- Law and legislation -- South Africa Corporate governance -- Law and legislation , Business ethics Sustainability -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14565 , vital:27766
- Description: Consumer protection policy measures can enable consumer behaviour shifts in favour of more sustainable choices. Whilst government is responsible for developing consumer protection policy in a particular country, business is central in the implementation of such policy. In South Africa, there is disassociation in consumer protection policy and environmental policy where consumer protection policy is the responsibility of the Department of Trade and Industry, whilst sustainability is located under the Department of Environmental Affairs. As a result, South African consumer protection policy does not holistically incorporate sustainability. A six-step qualitative research process was adopted to develop a framework to implement sustainability into consumer protection policies. First, a theoretical framework for incorporating sustainability into consumer protection policy was developed to structure the qualitative research. Four dimensions for incorporating sustainability into consumer protection were then identified. Qualitative data was collected using an open-ended questionnaire and also content analysis of existing data. Two sets of experts further reviewed and critiqued the proposed framework. The results of the qualitative enquiry, in particular, showed that for all the countries examined, some at least had sustainability consideration elements in their policies, but this was evident to a lesser extent in African countries, particularly those with less-developed economies. On the other hand, policy mechanisms that promoted sustainability were more evident in the policies and laws of developed countries. In the case of most African countries, basic needs were foregrounded as the primary concerns of consumers, ahead of sustainability concerns. Further, poverty limited consumer choices, particularly if more sustainably produced and eco-efficient goods came at a higher price. The research also underscored the importance and centrality of consumer education and stakeholder engagement for achieving sustainability policy intentions. It further confirmed that the basic needs of poor consumers in South Africa, and the impact of poverty on sustainability policy intentions must underpin the proposed framework. Factors that created an enabling environment for the implementation of the framework were identified as policy harmonisation within government policy domains, joined-up government, good corporate governance and shared value that considered the needs of future generations and consumer education. These factors would create an enabling environment for policy implementation. Consumer policy could play a key role in the choices that consumers make and, if well-designed and implemented, could direct consumer spending in support of the goal of sustainability and sustainable consumption. The proposed framework provides a foundation on which to futher refine and develop consumer protection policy that incorporates the well-being of consumers and social justice. Using consumer spending to drive sustainability requires a deliberate intention on the part of policy makers to move away from the more conventional framing of consumer policy, which has tended to focus on the economic interests of consumers, such as price, quality, choice and redress. However, modern business is shifting towards a more holistic conceptualisation of sustainability, as a value that needs to be deliberately and consciously built into the design and essence of a business. Doing so is not only good corporate citizenship, but offers a competitive advantage, which could drive product demand and attract consumers.
- Full Text:
- Date Issued: 2017
- Authors: Best, Laura Anne
- Date: 2017
- Subjects: Consumer protection -- Law and legislation -- South Africa Corporate governance -- Law and legislation , Business ethics Sustainability -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14565 , vital:27766
- Description: Consumer protection policy measures can enable consumer behaviour shifts in favour of more sustainable choices. Whilst government is responsible for developing consumer protection policy in a particular country, business is central in the implementation of such policy. In South Africa, there is disassociation in consumer protection policy and environmental policy where consumer protection policy is the responsibility of the Department of Trade and Industry, whilst sustainability is located under the Department of Environmental Affairs. As a result, South African consumer protection policy does not holistically incorporate sustainability. A six-step qualitative research process was adopted to develop a framework to implement sustainability into consumer protection policies. First, a theoretical framework for incorporating sustainability into consumer protection policy was developed to structure the qualitative research. Four dimensions for incorporating sustainability into consumer protection were then identified. Qualitative data was collected using an open-ended questionnaire and also content analysis of existing data. Two sets of experts further reviewed and critiqued the proposed framework. The results of the qualitative enquiry, in particular, showed that for all the countries examined, some at least had sustainability consideration elements in their policies, but this was evident to a lesser extent in African countries, particularly those with less-developed economies. On the other hand, policy mechanisms that promoted sustainability were more evident in the policies and laws of developed countries. In the case of most African countries, basic needs were foregrounded as the primary concerns of consumers, ahead of sustainability concerns. Further, poverty limited consumer choices, particularly if more sustainably produced and eco-efficient goods came at a higher price. The research also underscored the importance and centrality of consumer education and stakeholder engagement for achieving sustainability policy intentions. It further confirmed that the basic needs of poor consumers in South Africa, and the impact of poverty on sustainability policy intentions must underpin the proposed framework. Factors that created an enabling environment for the implementation of the framework were identified as policy harmonisation within government policy domains, joined-up government, good corporate governance and shared value that considered the needs of future generations and consumer education. These factors would create an enabling environment for policy implementation. Consumer policy could play a key role in the choices that consumers make and, if well-designed and implemented, could direct consumer spending in support of the goal of sustainability and sustainable consumption. The proposed framework provides a foundation on which to futher refine and develop consumer protection policy that incorporates the well-being of consumers and social justice. Using consumer spending to drive sustainability requires a deliberate intention on the part of policy makers to move away from the more conventional framing of consumer policy, which has tended to focus on the economic interests of consumers, such as price, quality, choice and redress. However, modern business is shifting towards a more holistic conceptualisation of sustainability, as a value that needs to be deliberately and consciously built into the design and essence of a business. Doing so is not only good corporate citizenship, but offers a competitive advantage, which could drive product demand and attract consumers.
- Full Text:
- Date Issued: 2017
A theoretical model for successful management of revenue for beneficiary communities of renewable energy companies in South Africa
- Authors: Amansure, Ricardo Julian
- Date: 2017
- Subjects: Strategic planning -- South Africa , Social responsibility of business -- South Africa , Renewable energy sources -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/7408 , vital:21351
- Description: The Renewable Energy (RE) sector is one of the fastest growing new industries in the Republic of South Africa (RSA). The Bloomberg New Energy Finance Climate Scope Report recently ranked RSA third globally, behind China and Brazil, and first among African countries for investment in clean energy (Glickman, 2014). However, one of the main benefits to be derived from the industry, that of socio-economic and enterprise development, is not being achieved owing to unsuccessful management of revenue for beneficiary communities in the renewable energy sector in RSA. Challenges relating to good governance and long-term planning are causing significant harm to communities that are already vulnerable, and are threatening to have a negative effect on the industry’s ability to fulfil its obligation to alleviate and, ultimately, eradicate poverty in some of the poorest communities in RSA.The primary objective of this study is to develop a model for the successful management of revenue for beneficiary communities in the renewable energy sector in South Africa. The model will provide guidance for enterprises, stakeholders, industry experts and community development practitioners within the renewable energy sector towards a pro-active, effective, and relevant decision-making process to achieve success in managing revenue for beneficiary communities. To address the primary objective, a number of secondary objectives were established by developing a conceptual model comprising variables identified in a comprehensive survey of the related literature. A path diagram, based on the formulation of appropriate hypotheses, was constructed between the independent variable and subsequent intervening and dependent variables. Primary data sourced from the identified national and international population of project management practitioners were collected by means of an electronic measuring instrument. The data were analysed and tested empirically by means of Structural Equation Modelling (SEM). The determinants that were identified through a review of the literature as influencing the success of managing revenue for beneficiary communities of renewable energy companies in South Africa included: the use of outside advice, strategic financial services, strategic planning, strategic partnerships, infrastructure development and project management. In order to achieve the objective, the following research questions were formulated: What is the influence of external factors such as outside advisers and support services on the perceived success of managing revenue for beneficiary communities of renewable energy companies in South Africa? The purpose of this research, therefore, was to evaluate and recommend new methodologies to the renewable energy sector by introducing a model of perceived success in managing revenue for beneficiary communities of renewable energy companies in South Africa. The study provided new insight into managing revenue for beneficiary communities in RSA. With the renewable energy sector being one of the fastest growing sectors in the RSA, and the RSA Government being determined to link the location of renewable energy facilities to economic development, this research has given new insight into managing revenue for SED and ED. The objectives of multi-sector participation, transformational change and sustainable initiatives for beneficiary communities could ensure greater consideration and care when managing beneficiary revenue. Thereby, the opportunity presented by the RE industry for beneficiary communities can change these communities dramatically for the better. The study makes a valuable contribution to the body of knowledge about managing revenue for beneficiary communities. The proposed model has led to a better understanding of the determinants that influence the success of managing revenue for beneficiary communities, namely: distinctive benefits (a combination of two variables: outside advice and support services), financial management, developmental benefits (a combination of two variables: infrastructure development and education), human development, project management and strategic planning. The study has also opened up new avenues of research into this subject.
- Full Text:
- Date Issued: 2017
- Authors: Amansure, Ricardo Julian
- Date: 2017
- Subjects: Strategic planning -- South Africa , Social responsibility of business -- South Africa , Renewable energy sources -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/7408 , vital:21351
- Description: The Renewable Energy (RE) sector is one of the fastest growing new industries in the Republic of South Africa (RSA). The Bloomberg New Energy Finance Climate Scope Report recently ranked RSA third globally, behind China and Brazil, and first among African countries for investment in clean energy (Glickman, 2014). However, one of the main benefits to be derived from the industry, that of socio-economic and enterprise development, is not being achieved owing to unsuccessful management of revenue for beneficiary communities in the renewable energy sector in RSA. Challenges relating to good governance and long-term planning are causing significant harm to communities that are already vulnerable, and are threatening to have a negative effect on the industry’s ability to fulfil its obligation to alleviate and, ultimately, eradicate poverty in some of the poorest communities in RSA.The primary objective of this study is to develop a model for the successful management of revenue for beneficiary communities in the renewable energy sector in South Africa. The model will provide guidance for enterprises, stakeholders, industry experts and community development practitioners within the renewable energy sector towards a pro-active, effective, and relevant decision-making process to achieve success in managing revenue for beneficiary communities. To address the primary objective, a number of secondary objectives were established by developing a conceptual model comprising variables identified in a comprehensive survey of the related literature. A path diagram, based on the formulation of appropriate hypotheses, was constructed between the independent variable and subsequent intervening and dependent variables. Primary data sourced from the identified national and international population of project management practitioners were collected by means of an electronic measuring instrument. The data were analysed and tested empirically by means of Structural Equation Modelling (SEM). The determinants that were identified through a review of the literature as influencing the success of managing revenue for beneficiary communities of renewable energy companies in South Africa included: the use of outside advice, strategic financial services, strategic planning, strategic partnerships, infrastructure development and project management. In order to achieve the objective, the following research questions were formulated: What is the influence of external factors such as outside advisers and support services on the perceived success of managing revenue for beneficiary communities of renewable energy companies in South Africa? The purpose of this research, therefore, was to evaluate and recommend new methodologies to the renewable energy sector by introducing a model of perceived success in managing revenue for beneficiary communities of renewable energy companies in South Africa. The study provided new insight into managing revenue for beneficiary communities in RSA. With the renewable energy sector being one of the fastest growing sectors in the RSA, and the RSA Government being determined to link the location of renewable energy facilities to economic development, this research has given new insight into managing revenue for SED and ED. The objectives of multi-sector participation, transformational change and sustainable initiatives for beneficiary communities could ensure greater consideration and care when managing beneficiary revenue. Thereby, the opportunity presented by the RE industry for beneficiary communities can change these communities dramatically for the better. The study makes a valuable contribution to the body of knowledge about managing revenue for beneficiary communities. The proposed model has led to a better understanding of the determinants that influence the success of managing revenue for beneficiary communities, namely: distinctive benefits (a combination of two variables: outside advice and support services), financial management, developmental benefits (a combination of two variables: infrastructure development and education), human development, project management and strategic planning. The study has also opened up new avenues of research into this subject.
- Full Text:
- Date Issued: 2017
Adoption and up scaling of conservation agriculture in Malawi
- Authors: Paul, John Mussa
- Date: 2017
- Subjects: Agricultural conservation -- Malawi , Conservation of natural resources -- Malawi Agriculture -- Malawi
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19717 , vital:28943
- Description: Conservation agriculture (CA) has been widely recommended as one of the best ‘climate smart’ agriculture (CSA) practices in many regions of Africa and beyond. It helps to cushion smallholder farmers from the impacts of climate variability and change manifested through erratic rainfall, prolonged dry spells and droughts. CA is a preferred strategy for rehabilitating degraded agricultural land by improving its soil health for optimal crop production. However, adoption and upscaling of this farming practice in many African countries, which face critical challenges of food insecurity and soil degradation, including Malawi, is not significantly expanding despite these established benefits. This participatory action research study therefore explored factors limiting CA adoption and upscaling among the smallholder farmers in Khombedza Extension Planning Area where Total LandCare, the Malawian Ministry of Agriculture and other NGOs have been supporting farmers to adopt CA practices for more than five years. Participatory approaches were used throughout the research process for data collection, with farmers acting as co-researchers as they are best placed to identify the farming challenges and recommend solutions. Key informant interviews and field observations complemented and validated some of the results from the participatory rural appraisal (PRA) activities. The study findings revealed a number of factors behind low CA adoption and upscaling, with many relating to the poor extension system promoted by NGOs and government extension staff. Other factors relate to farmers’ perceptions and are linked to the CA system itself. The on-farm participatory training clarified the majority of farmers’ understanding and changed their mindset towards CA practices, which in turn increased its visibility in terms of adoption and scale of upscaling across the villages under study. In trying to address the poor extension system, as observed and reported by the majority of participants, the research practically tested a “Farmer Neighbourhood (FN) model”, which provided a greater opportunity for farm level interactive learning and provision of better farmer-to-farmer and farmer-to-field staff extension support. The majority of participants and field staff, as well as members of the National Conservation Agriculture Task Force (NCATF) in Malawi, made a recommendation to replicate this model of targeting and supporting farmers in order to increase CA visibility throughout the country. Participation and interactive farmer learning emerged as major themes, which guided successful implementation of the research whilst addressing the research questions and objectives.
- Full Text:
- Date Issued: 2017
- Authors: Paul, John Mussa
- Date: 2017
- Subjects: Agricultural conservation -- Malawi , Conservation of natural resources -- Malawi Agriculture -- Malawi
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19717 , vital:28943
- Description: Conservation agriculture (CA) has been widely recommended as one of the best ‘climate smart’ agriculture (CSA) practices in many regions of Africa and beyond. It helps to cushion smallholder farmers from the impacts of climate variability and change manifested through erratic rainfall, prolonged dry spells and droughts. CA is a preferred strategy for rehabilitating degraded agricultural land by improving its soil health for optimal crop production. However, adoption and upscaling of this farming practice in many African countries, which face critical challenges of food insecurity and soil degradation, including Malawi, is not significantly expanding despite these established benefits. This participatory action research study therefore explored factors limiting CA adoption and upscaling among the smallholder farmers in Khombedza Extension Planning Area where Total LandCare, the Malawian Ministry of Agriculture and other NGOs have been supporting farmers to adopt CA practices for more than five years. Participatory approaches were used throughout the research process for data collection, with farmers acting as co-researchers as they are best placed to identify the farming challenges and recommend solutions. Key informant interviews and field observations complemented and validated some of the results from the participatory rural appraisal (PRA) activities. The study findings revealed a number of factors behind low CA adoption and upscaling, with many relating to the poor extension system promoted by NGOs and government extension staff. Other factors relate to farmers’ perceptions and are linked to the CA system itself. The on-farm participatory training clarified the majority of farmers’ understanding and changed their mindset towards CA practices, which in turn increased its visibility in terms of adoption and scale of upscaling across the villages under study. In trying to address the poor extension system, as observed and reported by the majority of participants, the research practically tested a “Farmer Neighbourhood (FN) model”, which provided a greater opportunity for farm level interactive learning and provision of better farmer-to-farmer and farmer-to-field staff extension support. The majority of participants and field staff, as well as members of the National Conservation Agriculture Task Force (NCATF) in Malawi, made a recommendation to replicate this model of targeting and supporting farmers in order to increase CA visibility throughout the country. Participation and interactive farmer learning emerged as major themes, which guided successful implementation of the research whilst addressing the research questions and objectives.
- Full Text:
- Date Issued: 2017
An HRM model for enhancing psychological capital in South African organisations during a psychological recession
- Theron, Anthonie Van Straaten
- Authors: Theron, Anthonie Van Straaten
- Date: 2017
- Subjects: Industrial psychology Personnel management
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20823 , vital:29404
- Description: The rationale behind this study was to identify various positive Human Resource Management (HRM) practices that contribute to the development and enhancement of psychological capital (PsyCap) during a psychological recession. A psychological recession, which is defined as a negative cognitive and emotional condition perpetuated by prolonged socio-economic hardships and amplified by the media, (Bardwick, 2008) could negatively affect employees’ PsyCap. While there has been no systematic study of the impact of various HRM practices on PsyCap (Gupta, 2013), a need existed to investigate and formulate best HRM practices for the development of employees’ PsyCap during a psychological recession. Furthermore, this study also aimed to investigate the potential buffering effect of HRM practices on the negative experiences and perceptions associated with a psychological recession. This research study took the form of a quantitative, cross-sectional design, using a composite questionnaire to measure personal vulnerability and exposure to the negative experiences associated with a psychological recession, the organisation’s application of various positive HRM practices, and employees’ levels of PsyCap. The target population consisted of all permanent and contract clinical and support staff employed at 43 fixed Primary Health Care (PHC) clinics situated in the West Rand District Municipality (WRDM) (n = 318). Exploratory factor analysis (EFA) was employed to determine the factor loadings on the overall scales and based on these factor loadings, main factors were extracted. Reliability analysis indicated that the newly structured measurement instruments would produce consistent results with continued application. The hypotheses were tested through the application of Pearson’s product moment correlation analysis, structural equation modelling (SEM), multiple regression analysis and a one-sample t-test. The empirical results indicated that all respondents included in the study experienced some degree of a psychological recession. Although significant correlations were uncovered between psychological recession and PsyCap, personal exposure and vulnerability with regards to organisational change and psychological uncertainty was identified as a major factor that negatively affected employees’ PsyCap. The inferential results identified competence development practices as a crucial intervention for the enhancement of PsyCap during a psychological recession. Lastly, the inferential results revealed that employee recognition and empowerment are fundamental practices in order to negate the negative impact of a psychological recession. Based on the results of this study, organisations have to proactively respond to a psychological recession by re-evaluating the effectiveness of their HRM actions and practices, in order to effectively enhance and maintain the PsyCap of their employees during a psychological recession.
- Full Text:
- Date Issued: 2017
- Authors: Theron, Anthonie Van Straaten
- Date: 2017
- Subjects: Industrial psychology Personnel management
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20823 , vital:29404
- Description: The rationale behind this study was to identify various positive Human Resource Management (HRM) practices that contribute to the development and enhancement of psychological capital (PsyCap) during a psychological recession. A psychological recession, which is defined as a negative cognitive and emotional condition perpetuated by prolonged socio-economic hardships and amplified by the media, (Bardwick, 2008) could negatively affect employees’ PsyCap. While there has been no systematic study of the impact of various HRM practices on PsyCap (Gupta, 2013), a need existed to investigate and formulate best HRM practices for the development of employees’ PsyCap during a psychological recession. Furthermore, this study also aimed to investigate the potential buffering effect of HRM practices on the negative experiences and perceptions associated with a psychological recession. This research study took the form of a quantitative, cross-sectional design, using a composite questionnaire to measure personal vulnerability and exposure to the negative experiences associated with a psychological recession, the organisation’s application of various positive HRM practices, and employees’ levels of PsyCap. The target population consisted of all permanent and contract clinical and support staff employed at 43 fixed Primary Health Care (PHC) clinics situated in the West Rand District Municipality (WRDM) (n = 318). Exploratory factor analysis (EFA) was employed to determine the factor loadings on the overall scales and based on these factor loadings, main factors were extracted. Reliability analysis indicated that the newly structured measurement instruments would produce consistent results with continued application. The hypotheses were tested through the application of Pearson’s product moment correlation analysis, structural equation modelling (SEM), multiple regression analysis and a one-sample t-test. The empirical results indicated that all respondents included in the study experienced some degree of a psychological recession. Although significant correlations were uncovered between psychological recession and PsyCap, personal exposure and vulnerability with regards to organisational change and psychological uncertainty was identified as a major factor that negatively affected employees’ PsyCap. The inferential results identified competence development practices as a crucial intervention for the enhancement of PsyCap during a psychological recession. Lastly, the inferential results revealed that employee recognition and empowerment are fundamental practices in order to negate the negative impact of a psychological recession. Based on the results of this study, organisations have to proactively respond to a psychological recession by re-evaluating the effectiveness of their HRM actions and practices, in order to effectively enhance and maintain the PsyCap of their employees during a psychological recession.
- Full Text:
- Date Issued: 2017
Best practice strategies to eradicate business growth challenges of female-owned small businesses in Uganda
- Authors: Mbidde, Cathy Ikiror
- Date: 2017
- Subjects: Women-owned business enterprises -- Uganda , Self-employed women -- Uganda Businesswomen -- Uganda Small business -- Uganda -- Growth
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19004 , vital:28764
- Description: Small businesses of which the majority are female-owned are the backbone of many economies across the globe. Despite the increasingly important role of female-owned small businesses to economic development and poverty alleviation, the growth of female-owned businesses in Uganda remains a major concern. The purpose of this study, therefore, was twofold – to identify business growth challenges of female small business entrepreneurs in Uganda and also to identify the strategies for overcoming these small business growth challenges to add to existing theory within the small business management field. The study followed a qualitative research with an exploratory descriptive case study design approach. A comprehensive international and national literature on female entrepreneurship, the Ugandan business environment, small business growth challenges in Uganda, and global best practice strategies for stimulating small business growth was conducted. Primary data were collected using face-to-face and telephonic interviews with semi-structured interview guides. Twelve (three female small business entrepreneurs and nine small business support specialists) participants were selected using purposive, theoretical, and expert sampling methods. The biographical profiles of the participants interviewed during the study were presented as case studies. Firstly, the biographical profiles of the three Ugandan small businesses (supermarket, restaurant and hairdressing salon) and the female entrepreneurs were presented. Secondly, the biographical profiles of the nine small business support institutions (two governmental, two funding, two training, one export promotion) and two business associations, as well as the profile of the small business support specialists were presented. Based on the content analysis of the qualitative interviews with the three female small business entrepreneurs, their current business status revealed that the female entrepreneurs have growth aspirations and aligned their goals towards it, but did not have strategies in place to effect business growth. Further still, based on the empirical results of the female small business participants, eight main challenges were identified as: lack of adequate business support and business skills training; demanding and costly business registration and trading license processes; high business taxation; access to finance; inadequate road infrastructure; family-related issues and cultural taboos. These participants also suggested some solutions to overcome these challenges. The small business support specialist participants either confirmed the challenges that specifically females experience or confirmed that they are perceived and not real challenges, or that it is not female-specific but generic to all small businesses. The study further established what female small business participants regard as possible strategies to the challenges experienced, while the small business support specialist participants could indicate which strategies have already been implemented and also suggest further strategies. It was concluded that although many of the challenges could apply to all small businesses, this study found that cultural taboos and family-related issues are a real challenge for female small business entrepreneurs. As seen in this study, these two main challenges can further influence some of the other challenges. It can influence whether qualifying for access to funding, having extra funding to pay for registration, licensing and tax, what the business is allowed to sell, and even the novelty of a female owing a business, never mind wishing to grow their businesses. Although some challenges such as discrimination against female entrepreneurs regarding access to small business support or funding is perceived, there are real infrastructure challenges such as rural road conditions, access to electricity and ICT. Several strategies are already in place in Uganda to assist all small businesses with business growth, but not necessarily just assisting female small business entrepreneurs. However, many of these strategies are work-in-progress and have not yet had the desired end result. This study made a contribution to knowledge by indicating that government-, skills training-, financial- and export promotion institutions, as well as business associations together with influential community members, can contribute significantly to the implementation of several strategies to promote female small business growth. In addition, the chapter on best practices of global developed – and developing countries provided insight into making well-informed practical recommendations that Uganda can implement to assist small businesses to grow and in particular females small businesses. These global best practice strategies for the growth of SMMEs as applied within the seven selected seven countries were elaborated on in detail with a clear indication of the responsible bodies in Uganda that can affect these strategies. The emphasis was on suggesting strategies that can be practically executed with relative ease in Uganda as a developing country. This study concludes that it remains the responsibility of female small business entrepreneurs to make the effort to grow their small businesses and turn their business visions into reality. They should write a business plan, search for and approach small business support institutions for assistance and engage in an extensive networking drive to grow their customer market and to search for opportunities to grow their business such as private-public sector partnerships or expansion into the international market. Awareness is not just the responsibility of the several small business support institutions in Uganda, but female small business entrepreneurs should actively scrutinise media reports in newspapers, the radio and television to obtain information regarding business support opportunities.
- Full Text:
- Date Issued: 2017
- Authors: Mbidde, Cathy Ikiror
- Date: 2017
- Subjects: Women-owned business enterprises -- Uganda , Self-employed women -- Uganda Businesswomen -- Uganda Small business -- Uganda -- Growth
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19004 , vital:28764
- Description: Small businesses of which the majority are female-owned are the backbone of many economies across the globe. Despite the increasingly important role of female-owned small businesses to economic development and poverty alleviation, the growth of female-owned businesses in Uganda remains a major concern. The purpose of this study, therefore, was twofold – to identify business growth challenges of female small business entrepreneurs in Uganda and also to identify the strategies for overcoming these small business growth challenges to add to existing theory within the small business management field. The study followed a qualitative research with an exploratory descriptive case study design approach. A comprehensive international and national literature on female entrepreneurship, the Ugandan business environment, small business growth challenges in Uganda, and global best practice strategies for stimulating small business growth was conducted. Primary data were collected using face-to-face and telephonic interviews with semi-structured interview guides. Twelve (three female small business entrepreneurs and nine small business support specialists) participants were selected using purposive, theoretical, and expert sampling methods. The biographical profiles of the participants interviewed during the study were presented as case studies. Firstly, the biographical profiles of the three Ugandan small businesses (supermarket, restaurant and hairdressing salon) and the female entrepreneurs were presented. Secondly, the biographical profiles of the nine small business support institutions (two governmental, two funding, two training, one export promotion) and two business associations, as well as the profile of the small business support specialists were presented. Based on the content analysis of the qualitative interviews with the three female small business entrepreneurs, their current business status revealed that the female entrepreneurs have growth aspirations and aligned their goals towards it, but did not have strategies in place to effect business growth. Further still, based on the empirical results of the female small business participants, eight main challenges were identified as: lack of adequate business support and business skills training; demanding and costly business registration and trading license processes; high business taxation; access to finance; inadequate road infrastructure; family-related issues and cultural taboos. These participants also suggested some solutions to overcome these challenges. The small business support specialist participants either confirmed the challenges that specifically females experience or confirmed that they are perceived and not real challenges, or that it is not female-specific but generic to all small businesses. The study further established what female small business participants regard as possible strategies to the challenges experienced, while the small business support specialist participants could indicate which strategies have already been implemented and also suggest further strategies. It was concluded that although many of the challenges could apply to all small businesses, this study found that cultural taboos and family-related issues are a real challenge for female small business entrepreneurs. As seen in this study, these two main challenges can further influence some of the other challenges. It can influence whether qualifying for access to funding, having extra funding to pay for registration, licensing and tax, what the business is allowed to sell, and even the novelty of a female owing a business, never mind wishing to grow their businesses. Although some challenges such as discrimination against female entrepreneurs regarding access to small business support or funding is perceived, there are real infrastructure challenges such as rural road conditions, access to electricity and ICT. Several strategies are already in place in Uganda to assist all small businesses with business growth, but not necessarily just assisting female small business entrepreneurs. However, many of these strategies are work-in-progress and have not yet had the desired end result. This study made a contribution to knowledge by indicating that government-, skills training-, financial- and export promotion institutions, as well as business associations together with influential community members, can contribute significantly to the implementation of several strategies to promote female small business growth. In addition, the chapter on best practices of global developed – and developing countries provided insight into making well-informed practical recommendations that Uganda can implement to assist small businesses to grow and in particular females small businesses. These global best practice strategies for the growth of SMMEs as applied within the seven selected seven countries were elaborated on in detail with a clear indication of the responsible bodies in Uganda that can affect these strategies. The emphasis was on suggesting strategies that can be practically executed with relative ease in Uganda as a developing country. This study concludes that it remains the responsibility of female small business entrepreneurs to make the effort to grow their small businesses and turn their business visions into reality. They should write a business plan, search for and approach small business support institutions for assistance and engage in an extensive networking drive to grow their customer market and to search for opportunities to grow their business such as private-public sector partnerships or expansion into the international market. Awareness is not just the responsibility of the several small business support institutions in Uganda, but female small business entrepreneurs should actively scrutinise media reports in newspapers, the radio and television to obtain information regarding business support opportunities.
- Full Text:
- Date Issued: 2017
Determinants of export performance among small to medium enterprises in Zimbabwe
- Karambakuwa, Tapuwa Roseline
- Authors: Karambakuwa, Tapuwa Roseline
- Date: 2017
- Subjects: Economics -- Zimbabwe Small business -- Zimbabwe -- Management , Shipping -- Economic aspects -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/17647 , vital:28424
- Description: There is consensus that Small to Medium Enterprises (SME) exports play a critical role in the development of economies. It has been widely acknowledged in empirical research done around the world that small businesses make a significant contribution to economic development, employment, competitiveness and the reduction of regional disparities. However, empirical literature gives conflicting evidence on the determinants of export performance among SMEs. The study contributes towards the debate on SME exports by: (i) investigating the variables that determine export performance among SMEs in Zimbabwe (ii) establishing the competi-tiveness of Zimbabwe’s exports and (iii) ascertaining the major constraints faced by SME ex-porters in Zimbabwe The researcher gathered data from 120 SMEs and 10 institutions in Zimbabwe for the period 2009 to 2015. SME samples were chosen from Harare, Mashonaland Central and Mashonaland East provinces while all 10 of the institutions were chosen from Harare province. Convenient non-probability sampling method was used to select SMEs while stratified sampling technique was applied in the selection of institutions. Both qualitative and quantitative research methods were employed. For the quantitative approach, panel data ordinary least squares method was used in the form of the gravity model of trade. Export intensity (used as a measure of exports) was regressed against support institutions, business ownership, research & development, educational years, use of export processing zones, product type, export years, firm size, firm age, gender, distance from trading partner, Gross Domestic Product (GDP) of trading partner, and GDP of Zimbabwe. The random effects estimation method was used, basing on results from the Durbin-Wu-Hausman test. The null hypothesis was based on the premise that the variables under study do not determine export intensity of SMEs in Zimbabwe. Other null hypothesis were that the major constraint faced by SME exporters in Zimbabwe is not access to finance and that Zimbabwe’s exports are not competitive in the mining, agricultural and manufacturing sectors. The revealed comparative advantage index was computed to measure the competitiveness of Zimbabwe’s exports.For the qualitative approach, the study used the triangulation method which involved combining and utilising the questionnaire, interviews and focus group discussions. The results from the study indicated that following variables increased export intensity of Zimbabwean SMEs; business ownership, use of export processing zones, export years, firm size, and GDP of trading partner. The following variables have an inverse relationship with the export intensity of Zimbabwean SMEs: gender, distance from trading partner and research & development. The results also indicated that these further variables do not determine the export intensity of SMEs in Zimbabwe: support institutions, years of education, product type, firm age and GDP of Zimbabwe. The major constraint faced by exporting SMEs in Zimbabwe is limited access to finance. Zimbabwe is competitive in the agricultural and mining sector exports, but not in manufacturing sector exports The policy implication of the findings is that SME support needs to go beyond support institutions when it comes to SME export promotion. Further SMEs in the agriculture and mining sectors need to be promoted for export growth since Zimbabwe is competitive in these sectors. However the manufacturing sector cannot be ignored, since many economies have developed due to exports of manufactured products and a country needs to have balanced export growth in both primary and manufacturing sectors. In order to have motivated, career SME exporters, entrepreneurship education should begin from primary school right up to university so as to improve entrepreneurial aspirations, attitudes and behaviour in the long run.
- Full Text:
- Date Issued: 2017
- Authors: Karambakuwa, Tapuwa Roseline
- Date: 2017
- Subjects: Economics -- Zimbabwe Small business -- Zimbabwe -- Management , Shipping -- Economic aspects -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/17647 , vital:28424
- Description: There is consensus that Small to Medium Enterprises (SME) exports play a critical role in the development of economies. It has been widely acknowledged in empirical research done around the world that small businesses make a significant contribution to economic development, employment, competitiveness and the reduction of regional disparities. However, empirical literature gives conflicting evidence on the determinants of export performance among SMEs. The study contributes towards the debate on SME exports by: (i) investigating the variables that determine export performance among SMEs in Zimbabwe (ii) establishing the competi-tiveness of Zimbabwe’s exports and (iii) ascertaining the major constraints faced by SME ex-porters in Zimbabwe The researcher gathered data from 120 SMEs and 10 institutions in Zimbabwe for the period 2009 to 2015. SME samples were chosen from Harare, Mashonaland Central and Mashonaland East provinces while all 10 of the institutions were chosen from Harare province. Convenient non-probability sampling method was used to select SMEs while stratified sampling technique was applied in the selection of institutions. Both qualitative and quantitative research methods were employed. For the quantitative approach, panel data ordinary least squares method was used in the form of the gravity model of trade. Export intensity (used as a measure of exports) was regressed against support institutions, business ownership, research & development, educational years, use of export processing zones, product type, export years, firm size, firm age, gender, distance from trading partner, Gross Domestic Product (GDP) of trading partner, and GDP of Zimbabwe. The random effects estimation method was used, basing on results from the Durbin-Wu-Hausman test. The null hypothesis was based on the premise that the variables under study do not determine export intensity of SMEs in Zimbabwe. Other null hypothesis were that the major constraint faced by SME exporters in Zimbabwe is not access to finance and that Zimbabwe’s exports are not competitive in the mining, agricultural and manufacturing sectors. The revealed comparative advantage index was computed to measure the competitiveness of Zimbabwe’s exports.For the qualitative approach, the study used the triangulation method which involved combining and utilising the questionnaire, interviews and focus group discussions. The results from the study indicated that following variables increased export intensity of Zimbabwean SMEs; business ownership, use of export processing zones, export years, firm size, and GDP of trading partner. The following variables have an inverse relationship with the export intensity of Zimbabwean SMEs: gender, distance from trading partner and research & development. The results also indicated that these further variables do not determine the export intensity of SMEs in Zimbabwe: support institutions, years of education, product type, firm age and GDP of Zimbabwe. The major constraint faced by exporting SMEs in Zimbabwe is limited access to finance. Zimbabwe is competitive in the agricultural and mining sector exports, but not in manufacturing sector exports The policy implication of the findings is that SME support needs to go beyond support institutions when it comes to SME export promotion. Further SMEs in the agriculture and mining sectors need to be promoted for export growth since Zimbabwe is competitive in these sectors. However the manufacturing sector cannot be ignored, since many economies have developed due to exports of manufactured products and a country needs to have balanced export growth in both primary and manufacturing sectors. In order to have motivated, career SME exporters, entrepreneurship education should begin from primary school right up to university so as to improve entrepreneurial aspirations, attitudes and behaviour in the long run.
- Full Text:
- Date Issued: 2017
Evaluating the development potential of extractive sector corporate social investments in Cameroon: Case of the oil & gas and mining sub sectors
- Jong, Yungong Theophilus, Cherry, Janet
- Authors: Jong, Yungong Theophilus , Cherry, Janet
- Date: 2017
- Subjects: Social responsibility of business -- Cameroon , Business ethics -- Cameroon Gold mines and mining -- Social aspects -- Cameroon Petroleum industry and trade -- Cameroon -- Finance
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13370 , vital:27179
- Description: This study set out to evaluate the development potential of extractive sector corporate social investments (CSI) in Cameroon. It does this by evaluating the extent to which extractive companies effectively integrate CSI in their business operations and how this can be improved upon for more effective development outcomes in the country. The study premises that CSI can contribute to development but its activities will not always amount to just, balanced and sustainable development outcomes. To understand the extent to which it does, this study develops and applies a framework for determining the applicability and effectiveness of extractive sector CSI practices. The research followed an interpretivist philosophical orientation. A case study research strategy with the elements of a survey research was used. It also implemented a mixed research methods approach and relied on both primary and secondary data sources. The CSI evaluation process used documentary survey techniques and content analysis of corporate social responsibility-related documentation provided by extractive companies and other sector stakeholders. This was triangulated with an expert survey as well as a survey of major development organisations to understand the opinion of the external environment that should shape CSI practices. Results were analysed, discussed and synthesised using the front-end, mid-phase and back-end criteria for evaluating CSI integration. Findings show significant level of adherence to the discretionary idea of CSI among extractive firms working in Cameroon. This is due partly to growing social responsibility awareness among extractive firms around the world and the consequence of inaction. The greater majority of companies however, do not show strong proof of well thought out CSI implementation strategies. The feeling among experts is that extractive sector CSI in Cameroon is failing. It is predominantly self-regulated by extractive companies which raise questions regarding objective and credible CSI practices. The study concludes that CSI has been implemented in ad-hoc, haphazard and un-systematic ways. It has a viable potential to contribute to development but still suffers from a very weak CSI enabling environment as well as the challenges of sustainable development. Extractive sector CSI therefore, still needs to be significantly reworked to enhance its potential in contributing to just, balanced and sustainable development in Cameroon. It is recommended that an enabling environment be put in place through CSI promotional activities in the country.
- Full Text:
- Date Issued: 2017
- Authors: Jong, Yungong Theophilus , Cherry, Janet
- Date: 2017
- Subjects: Social responsibility of business -- Cameroon , Business ethics -- Cameroon Gold mines and mining -- Social aspects -- Cameroon Petroleum industry and trade -- Cameroon -- Finance
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13370 , vital:27179
- Description: This study set out to evaluate the development potential of extractive sector corporate social investments (CSI) in Cameroon. It does this by evaluating the extent to which extractive companies effectively integrate CSI in their business operations and how this can be improved upon for more effective development outcomes in the country. The study premises that CSI can contribute to development but its activities will not always amount to just, balanced and sustainable development outcomes. To understand the extent to which it does, this study develops and applies a framework for determining the applicability and effectiveness of extractive sector CSI practices. The research followed an interpretivist philosophical orientation. A case study research strategy with the elements of a survey research was used. It also implemented a mixed research methods approach and relied on both primary and secondary data sources. The CSI evaluation process used documentary survey techniques and content analysis of corporate social responsibility-related documentation provided by extractive companies and other sector stakeholders. This was triangulated with an expert survey as well as a survey of major development organisations to understand the opinion of the external environment that should shape CSI practices. Results were analysed, discussed and synthesised using the front-end, mid-phase and back-end criteria for evaluating CSI integration. Findings show significant level of adherence to the discretionary idea of CSI among extractive firms working in Cameroon. This is due partly to growing social responsibility awareness among extractive firms around the world and the consequence of inaction. The greater majority of companies however, do not show strong proof of well thought out CSI implementation strategies. The feeling among experts is that extractive sector CSI in Cameroon is failing. It is predominantly self-regulated by extractive companies which raise questions regarding objective and credible CSI practices. The study concludes that CSI has been implemented in ad-hoc, haphazard and un-systematic ways. It has a viable potential to contribute to development but still suffers from a very weak CSI enabling environment as well as the challenges of sustainable development. Extractive sector CSI therefore, still needs to be significantly reworked to enhance its potential in contributing to just, balanced and sustainable development in Cameroon. It is recommended that an enabling environment be put in place through CSI promotional activities in the country.
- Full Text:
- Date Issued: 2017
Financial development in the SADC: growth and cross-country spatial spill-over effects
- Authors: Bara, Alex
- Date: 2017
- Subjects: Economic development -- South Africa Economic assistance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14950 , vital:27943
- Description: This study was prompted by the prevailing imbalance in financial development across SADC countries, which is not consistent with the linkages and interconnectedness of financial systems of these economies. South Africa is the most financially developed country in Africa, yet it is surrounded by economies with relatively small and underdeveloped financial systems, contrary to the spatial proximity theory in finance. The study performed a number of empirical estimations in respect of the spatiality of financial development, motivated by the intention to assess the growth and spatial spill-over effects of financial development in SADC. The study provides new information in spatial spill-over dynamics of financial development, which could inform policy development particularly in view of the on-going financial integration in the SADC region. The study also contributes to regional economic development in SADC from a finance perspective. The analysis was performed using annual data for all the 15 SADC countries, spanning for the period 1985 to 2014. Using the Generalised Method of Moments approach, the study finds that financial development does not support economic growth in SADC. Financial reforms were found to be insufficient to drive growth. A bi-directional causality between financial development and economic growth was established with causality being strong when flowing from economic growth to financial development. The extended Aghion, Howitt and Mayer-Foulkes Model, estimated by an Autoregressive Distributive Lag approach, established that financial innovation has a positive relation to economic growth in SADC, particularly in the long-run. There is no causality, in either direction, between financial innovation and economic growth in both the short and long-run. The Spatial Durbin Model reveals a presence of positive spatial effects on financial development in the region and that proximity to South Africa yields consistent effects of spatial externality in money markets and inconsistent spatial externality in credit markets. The monetary union has no influence on spatial dynamics of financial development in SADC. The generalised impulse response analysis of a Bayesian VAR model indicate that shocks in South Africa’s financial sector has positive, but constrained and in some cases weak, financial spill-over effects on both economic growth and financial development of other SADC countries. The study established, using the Herfindahl-Hirschman Index, a high level of financial market concentration for SADC, cantered in South Africa, and a fair distribution when South Africa is excluded. Dynamic panel models established that financial market concentration reduces financial development in SADC. South Africa’s financial development has mixed and opposing effects on financial market concentration in SADC. The findings also show that international finance has a positive, but currently weak, effect on financial development in SADC and countries with international financial centres contribute more to financial development than countries without. Proximity to South Africa creates huge potential for increasing financial development in SADC through spill-overs and more benefits of spatial proximity are realised in the long-run. Given the strong spatial effects in money markets and significant positive spill-overs in credit markets in the region, countries closer to South Africa need to link their money and credit markets to the South African markets and possibly benchmark to the Rand so as to benefit from proximity and spill-overs from South Africa. The results also suggest that SADC countries need to capitalise on their proximity to South Africa to enhance financial development by promoting economic growth, financial innovation, opening and diversification of financial sectors and linkages to global financial markets. Financial innovation supports financial inclusion, cross-border flows of funds, remittances and trade in SADC and has effects of enabling integration with developed markets and facilitating economic activity. Opening financial sectors enhances diversification of financial systems, increases competition and efficiency. To enhance access to international finance, the study suggests the creation of information centres in South Africa with SADC countries as economic hinterlands, commercialisation of solutions to SADC countries financial challenges, financial integration and support for deepening of financial systems in these countries. Strengthening economic growth could also increase financial development given a strong demand-following causality. The major challenge, however, is that some of the SADC countries have underdeveloped and highly concentrated financial systems characterised by high financial intermediation inefficiencies, high financial exclusion, weak financial infrastructure and regulations. Consequently, countries suffer financial leakages, are not receptive to spatial externalities and financial spill-overs from South Africa and often generate financial spillbacks to South Africa. SADC countries should, however, first address the issue of financial exclusion, financial infrastructure and regulation as well as efficiency in the financial markets. The SADC countries need mechanisms to attract financial development from South Africa to benefit from positive spill-overs and instruments to deal with negative externalities of financial shocks in South Africa. Overall, there is potential for increased financial development in SADC by consolidating absorption of positive financial spill-overs and externalities of proximity to South Africa -particularly in the medium to long term. Heterogeneity among SADC countries and the varying levels of financial development, however, dictates that the region should promote financial integration in order to enhance development of underdeveloped financial systems through spatial spill-over gains.
- Full Text:
- Date Issued: 2017
- Authors: Bara, Alex
- Date: 2017
- Subjects: Economic development -- South Africa Economic assistance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14950 , vital:27943
- Description: This study was prompted by the prevailing imbalance in financial development across SADC countries, which is not consistent with the linkages and interconnectedness of financial systems of these economies. South Africa is the most financially developed country in Africa, yet it is surrounded by economies with relatively small and underdeveloped financial systems, contrary to the spatial proximity theory in finance. The study performed a number of empirical estimations in respect of the spatiality of financial development, motivated by the intention to assess the growth and spatial spill-over effects of financial development in SADC. The study provides new information in spatial spill-over dynamics of financial development, which could inform policy development particularly in view of the on-going financial integration in the SADC region. The study also contributes to regional economic development in SADC from a finance perspective. The analysis was performed using annual data for all the 15 SADC countries, spanning for the period 1985 to 2014. Using the Generalised Method of Moments approach, the study finds that financial development does not support economic growth in SADC. Financial reforms were found to be insufficient to drive growth. A bi-directional causality between financial development and economic growth was established with causality being strong when flowing from economic growth to financial development. The extended Aghion, Howitt and Mayer-Foulkes Model, estimated by an Autoregressive Distributive Lag approach, established that financial innovation has a positive relation to economic growth in SADC, particularly in the long-run. There is no causality, in either direction, between financial innovation and economic growth in both the short and long-run. The Spatial Durbin Model reveals a presence of positive spatial effects on financial development in the region and that proximity to South Africa yields consistent effects of spatial externality in money markets and inconsistent spatial externality in credit markets. The monetary union has no influence on spatial dynamics of financial development in SADC. The generalised impulse response analysis of a Bayesian VAR model indicate that shocks in South Africa’s financial sector has positive, but constrained and in some cases weak, financial spill-over effects on both economic growth and financial development of other SADC countries. The study established, using the Herfindahl-Hirschman Index, a high level of financial market concentration for SADC, cantered in South Africa, and a fair distribution when South Africa is excluded. Dynamic panel models established that financial market concentration reduces financial development in SADC. South Africa’s financial development has mixed and opposing effects on financial market concentration in SADC. The findings also show that international finance has a positive, but currently weak, effect on financial development in SADC and countries with international financial centres contribute more to financial development than countries without. Proximity to South Africa creates huge potential for increasing financial development in SADC through spill-overs and more benefits of spatial proximity are realised in the long-run. Given the strong spatial effects in money markets and significant positive spill-overs in credit markets in the region, countries closer to South Africa need to link their money and credit markets to the South African markets and possibly benchmark to the Rand so as to benefit from proximity and spill-overs from South Africa. The results also suggest that SADC countries need to capitalise on their proximity to South Africa to enhance financial development by promoting economic growth, financial innovation, opening and diversification of financial sectors and linkages to global financial markets. Financial innovation supports financial inclusion, cross-border flows of funds, remittances and trade in SADC and has effects of enabling integration with developed markets and facilitating economic activity. Opening financial sectors enhances diversification of financial systems, increases competition and efficiency. To enhance access to international finance, the study suggests the creation of information centres in South Africa with SADC countries as economic hinterlands, commercialisation of solutions to SADC countries financial challenges, financial integration and support for deepening of financial systems in these countries. Strengthening economic growth could also increase financial development given a strong demand-following causality. The major challenge, however, is that some of the SADC countries have underdeveloped and highly concentrated financial systems characterised by high financial intermediation inefficiencies, high financial exclusion, weak financial infrastructure and regulations. Consequently, countries suffer financial leakages, are not receptive to spatial externalities and financial spill-overs from South Africa and often generate financial spillbacks to South Africa. SADC countries should, however, first address the issue of financial exclusion, financial infrastructure and regulation as well as efficiency in the financial markets. The SADC countries need mechanisms to attract financial development from South Africa to benefit from positive spill-overs and instruments to deal with negative externalities of financial shocks in South Africa. Overall, there is potential for increased financial development in SADC by consolidating absorption of positive financial spill-overs and externalities of proximity to South Africa -particularly in the medium to long term. Heterogeneity among SADC countries and the varying levels of financial development, however, dictates that the region should promote financial integration in order to enhance development of underdeveloped financial systems through spatial spill-over gains.
- Full Text:
- Date Issued: 2017
Financing sustainable cities in South Africa
- Authors: Ducie, Gregory Justin
- Date: 2017
- Subjects: Sustainable development -- South Africa , Cities and towns -- South Africa -- Economic conditions Finance -- South Africa Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15577 , vital:28273
- Description: Although directives exist with respect to promoting sustainable development, financial strategies to cater for collective sustainable development, along with an increasing population, need to be formulated relevant to metropolitan and urban areas. This study determined the infrastructure investment basis of a sustainable city to investigate various funding mechanisms resulting in the design of a model for the financing of sustainable cities. For the study, first the various infrastructure investment alternatives were established from the literature, and thirteen themes and their relevant interventions were identified. Tangible and intangible methods of assessment were then identified as ways to calculate the acceptability of an intervention. A case study based on a hypothetical city was developed to determine the infrastructure investment base. Initially, only one intervention of a theme was populated and then confirmed by city development experts. Thereafter, all the themes were populated, and the acceptability of the interventions were determined. This provided an overview of the investment base of a sustainable city. The investment base facilitated deriving applicable tools and instruments to finance it. As a result, possible finance alternatives were derived for each of the identified themes. Although most of the financing of sustainable cities revolved around public sector finance, the private sector also played an important role for the financing of sustainable cities. Based on the investment base for sustainable cities and the resultant financing thereof, a model for the financing of sustainable cities was developed. The model consisted of four components. Firstly, the model included an application of financing tools and instruments relevant to the identified themes of sustainable city development. Secondly, the model included the application of financing tools and instruments with respect to an immediate interventionist focus, a facilitative focus, a gradual intervention and an enabling intervention. Thirdly, the model included financing tools and instrument types in terms of incentive, opportunity, punitive and mandatory interventions. Fourthly, the model included the application of financing tools and instruments with respect to scale in terms of a city-wide application, sector-wide application, urban application or suburban application. In addition, the model included the application of financing tools and instruments and their relation to addressing poverty within the city context. Although the public sector will always remain the key initiator behind infrastructure development, various mechanisms of financing, along with applicable financing partners and the basis of investment, are required to address future sustainable cities. This study may potentially form the basis of that platform.
- Full Text:
- Date Issued: 2017
- Authors: Ducie, Gregory Justin
- Date: 2017
- Subjects: Sustainable development -- South Africa , Cities and towns -- South Africa -- Economic conditions Finance -- South Africa Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15577 , vital:28273
- Description: Although directives exist with respect to promoting sustainable development, financial strategies to cater for collective sustainable development, along with an increasing population, need to be formulated relevant to metropolitan and urban areas. This study determined the infrastructure investment basis of a sustainable city to investigate various funding mechanisms resulting in the design of a model for the financing of sustainable cities. For the study, first the various infrastructure investment alternatives were established from the literature, and thirteen themes and their relevant interventions were identified. Tangible and intangible methods of assessment were then identified as ways to calculate the acceptability of an intervention. A case study based on a hypothetical city was developed to determine the infrastructure investment base. Initially, only one intervention of a theme was populated and then confirmed by city development experts. Thereafter, all the themes were populated, and the acceptability of the interventions were determined. This provided an overview of the investment base of a sustainable city. The investment base facilitated deriving applicable tools and instruments to finance it. As a result, possible finance alternatives were derived for each of the identified themes. Although most of the financing of sustainable cities revolved around public sector finance, the private sector also played an important role for the financing of sustainable cities. Based on the investment base for sustainable cities and the resultant financing thereof, a model for the financing of sustainable cities was developed. The model consisted of four components. Firstly, the model included an application of financing tools and instruments relevant to the identified themes of sustainable city development. Secondly, the model included the application of financing tools and instruments with respect to an immediate interventionist focus, a facilitative focus, a gradual intervention and an enabling intervention. Thirdly, the model included financing tools and instrument types in terms of incentive, opportunity, punitive and mandatory interventions. Fourthly, the model included the application of financing tools and instruments with respect to scale in terms of a city-wide application, sector-wide application, urban application or suburban application. In addition, the model included the application of financing tools and instruments and their relation to addressing poverty within the city context. Although the public sector will always remain the key initiator behind infrastructure development, various mechanisms of financing, along with applicable financing partners and the basis of investment, are required to address future sustainable cities. This study may potentially form the basis of that platform.
- Full Text:
- Date Issued: 2017
Improving financial risk management in the petroleum industry of Nigeria
- Authors: Ogulu, Christiana
- Date: 2017
- Subjects: Financial risk management -- Nigeria , Risk management -- Nigeria Petroleum industry and trade -- Nigeria Nigeria -- Economic conditions -- 21st century
- Language: English
- Type: Thesis , Doctoral , DBA
- Identifier: http://hdl.handle.net/10948/19806 , vital:28974
- Description: Petroleum companies are critical to the Nigerian economy, as the petroleum sector is the biggest earner and spender of foreign exchange and the highest employer of labour. The industry is however faced with challenges of unprecedented fluctuation of commodity prices, exchange rates, a series of divestments, host communities’ demands, oil theft, project shelving, and destruction of infrastructure. Workforce cutting and consolidations are also the order of the day and current financial risk management (FRM) systems in companies appear not to be working. FRM systems in Nigerian petroleum companies have failed because risk managers did not have one generally accepted framework to manage financial risks such as fluctuations in commodity prices, exchange rates, interest rates, and in the demand and supply of crude oil and gas. There was a need for an integrated framework that is more descriptive and that does not rely only on mathematical models, separate management of each financial risk, and specific focus on the downside risk and derivatives. Mathematical models have presented weaknesses in the identification of issues, dissemination of information, policy formulation, planning, type and the institution of risk culture or delimitation of authority and in responsibility through the organisational structure. Mathematical models could not fully reduce the identification, communication, structure, and environmental scanning of FRM to mathematical models. The present study was the first attempt at an FRM framework that integrated all the financial risks strategically and took into consideration all the critical success factors that can solve the problems and challenges facing the Nigerian petroleum companies in the long term. The primary objective of the study was therefore to develop an FRM framework for the petroleum industry of Nigeria. The study collected data using a mixed methods approach to generate quantitative and qualitative data regarding financial risks facing the petroleum industry and possible methods of managing these risks effectively. The final sample consisted of 70 top-, middle- and lower-level managers, as well as five experts in the industry. Questionnaires were administered to practitioners in the south-eastern and south-western regions of Nigeria, and semi-structured interviews were conducted with financial risk management experts in the petroleum industry. Descriptive and inferential statistics were used in analysing the data. The study succeeded in developing a framework that: provides a thorough understanding and proper evaluation of the most important financial risks petroleum companies face; identifies the type and extent of top management support needed in a strategic FRM system; identifies and operationalises the financial risk culture that should be fostered to achieve FRM success; identifies the organisational structure that supports the successful achievement of FRM; identifies and operationalises the organisation communication flow that supports the successful achievement of FRM; identifies and operationalises oversight and control to support the successful achievement of FRM; and specifies the amount of training that supports the successful achievement of FRM. By implementing this framework, petroleum organisations in Nigeria will go a long way in successfully managing financial risks in that industry.
- Full Text:
- Date Issued: 2017
- Authors: Ogulu, Christiana
- Date: 2017
- Subjects: Financial risk management -- Nigeria , Risk management -- Nigeria Petroleum industry and trade -- Nigeria Nigeria -- Economic conditions -- 21st century
- Language: English
- Type: Thesis , Doctoral , DBA
- Identifier: http://hdl.handle.net/10948/19806 , vital:28974
- Description: Petroleum companies are critical to the Nigerian economy, as the petroleum sector is the biggest earner and spender of foreign exchange and the highest employer of labour. The industry is however faced with challenges of unprecedented fluctuation of commodity prices, exchange rates, a series of divestments, host communities’ demands, oil theft, project shelving, and destruction of infrastructure. Workforce cutting and consolidations are also the order of the day and current financial risk management (FRM) systems in companies appear not to be working. FRM systems in Nigerian petroleum companies have failed because risk managers did not have one generally accepted framework to manage financial risks such as fluctuations in commodity prices, exchange rates, interest rates, and in the demand and supply of crude oil and gas. There was a need for an integrated framework that is more descriptive and that does not rely only on mathematical models, separate management of each financial risk, and specific focus on the downside risk and derivatives. Mathematical models have presented weaknesses in the identification of issues, dissemination of information, policy formulation, planning, type and the institution of risk culture or delimitation of authority and in responsibility through the organisational structure. Mathematical models could not fully reduce the identification, communication, structure, and environmental scanning of FRM to mathematical models. The present study was the first attempt at an FRM framework that integrated all the financial risks strategically and took into consideration all the critical success factors that can solve the problems and challenges facing the Nigerian petroleum companies in the long term. The primary objective of the study was therefore to develop an FRM framework for the petroleum industry of Nigeria. The study collected data using a mixed methods approach to generate quantitative and qualitative data regarding financial risks facing the petroleum industry and possible methods of managing these risks effectively. The final sample consisted of 70 top-, middle- and lower-level managers, as well as five experts in the industry. Questionnaires were administered to practitioners in the south-eastern and south-western regions of Nigeria, and semi-structured interviews were conducted with financial risk management experts in the petroleum industry. Descriptive and inferential statistics were used in analysing the data. The study succeeded in developing a framework that: provides a thorough understanding and proper evaluation of the most important financial risks petroleum companies face; identifies the type and extent of top management support needed in a strategic FRM system; identifies and operationalises the financial risk culture that should be fostered to achieve FRM success; identifies the organisational structure that supports the successful achievement of FRM; identifies and operationalises the organisation communication flow that supports the successful achievement of FRM; identifies and operationalises oversight and control to support the successful achievement of FRM; and specifies the amount of training that supports the successful achievement of FRM. By implementing this framework, petroleum organisations in Nigeria will go a long way in successfully managing financial risks in that industry.
- Full Text:
- Date Issued: 2017
Individual-related factors influencing knowledge-sharing intention in knowledge-intensive businesses
- Authors: Van Greunen, Conrad
- Date: 2017
- Subjects: Knowledge management Intellectual capital -- Management , Management -- Information services Organizational learning
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/21274 , vital:29469
- Description: It has become generally accepted to refer to today‟s global economy as a knowledge-based economy, since knowledge has increasingly become the resource, instead of a resource for wealth creation. The ability of businesses to harness the potential of intangible assets such as knowledge has become far more decisive than their ability to manage physical assets. In the implementation of knowledge management activities, knowledge sharing is recognised as an integral task and key enabler of knowledge management. Although knowledge sharing is regarded as one of the most crucial factors in the effective management of knowledge, in knowledge-intensive businesses in particular, it has also been established that most employees are reluctant to share knowledge. Research further confirms that the factors that promote or discourage knowledge-sharing behaviour in businesses are poorly understood and that knowledge management systems fail as a result of the misunderstanding of individual characteristics that could influence knowledge sharing. Moreover, the focus of knowledge-sharing literature, in terms of the unit of analysis, is rarely at an individual/micro level, although the role of individuals in the knowledge-sharing process is critical as tacit knowledge resides within the individual and knowledge sharing starts with individuals. Given the importance of understanding knowledge sharing of individuals in knowledge-intensive businesses – but noting the lack of existing systematic, integrated research that focuses on individual-related factors influencing knowledge sharing – the purpose of this study was to fill the gap in the current literature. As such, the primary objective of this research was to identify and empirically investigate the individual-related factors influencing the Knowledge-sharing intention of individual employees in knowledge-intensive businesses. The literature review revealed twelve constructs, namely Individuals’ awareness, Intrinsic motivation, Extrinsic motivation, Transactional psychological contract breach, Relational psychological contract breach, Relationship conflict, Task conflict, Extraversion, Neuroticism, Openness to experience, Agreeableness and Conscientiousness that could influence the dependent variable Knowledge-sharing intention in knowledge-intensive businesses. Various moderating relationships between the dependent and independent variables were also proposed, while seven demographic variables (Age, Gender, Language, Highest qualification, Ethnic background, Organisational tenure and Job tenure of the respondent) were identified as potential control variables. Each construct in the hypothesised model of individual-related factors influencing Knowledge-sharing intention was defined and operationalised using items sourced from validated measuring instruments in previous studies. Several self-generated items based on secondary sources were also formulated. A structured questionnaire was made available to respondents identified by means of the convenience sampling technique, and the data collected from 597 usable questionnaires was subjected to various statistical analyses. An exploratory factor analysis (EFA) was conducted which confirmed the unique factors present in the data, and Cronbach-alpha coefficients were calculated to confirm the reliability of the measuring instrument. Structural equation modelling (SEM) was the main statistical procedure used to test the significance of the relationships hypothesised between the various independent and dependent variables. A subset of SEM, namely general linear modelling (GLM) was used to determine the influence of selected demographic variables on Knowledge-sharing intention and to assess various moderating relationships as proposed in the hypothesised model. The main findings of this study were that personality traits are strong predictors of individual employees‟ willingness to share knowledge, and that the maturity of individuals, in terms of realising the significance and value of sharing their knowledge with others, and in recognising the intrinsic benefits of sharing, influence Knowledge-sharing intention. The main limitations of the study were the use of a convenience sampling technique to collect the data, as well as the dependence of self-report by respondents, which could lead to response bias. This study has added to the body of knowledge management research, in particular knowledge-sharing research, by investigating selected individual-related factors influencing the Knowledge-sharing intention of individuals in a particular subset of businesses, namely knowledge-intensive businesses, and focusing on a particular type of knowledge, namely tacit knowledge. From a business‟s perspective, this study offers recommendations and suggestions for managing these individual-related factors in such a way as to increase knowledge sharing among employees, and as a result, the effectiveness and competitive advantage of knowledge-intensive businesses.
- Full Text:
- Date Issued: 2017
Individual-related factors influencing knowledge-sharing intention in knowledge-intensive businesses
- Authors: Van Greunen, Conrad
- Date: 2017
- Subjects: Knowledge management Intellectual capital -- Management , Management -- Information services Organizational learning
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/21274 , vital:29469
- Description: It has become generally accepted to refer to today‟s global economy as a knowledge-based economy, since knowledge has increasingly become the resource, instead of a resource for wealth creation. The ability of businesses to harness the potential of intangible assets such as knowledge has become far more decisive than their ability to manage physical assets. In the implementation of knowledge management activities, knowledge sharing is recognised as an integral task and key enabler of knowledge management. Although knowledge sharing is regarded as one of the most crucial factors in the effective management of knowledge, in knowledge-intensive businesses in particular, it has also been established that most employees are reluctant to share knowledge. Research further confirms that the factors that promote or discourage knowledge-sharing behaviour in businesses are poorly understood and that knowledge management systems fail as a result of the misunderstanding of individual characteristics that could influence knowledge sharing. Moreover, the focus of knowledge-sharing literature, in terms of the unit of analysis, is rarely at an individual/micro level, although the role of individuals in the knowledge-sharing process is critical as tacit knowledge resides within the individual and knowledge sharing starts with individuals. Given the importance of understanding knowledge sharing of individuals in knowledge-intensive businesses – but noting the lack of existing systematic, integrated research that focuses on individual-related factors influencing knowledge sharing – the purpose of this study was to fill the gap in the current literature. As such, the primary objective of this research was to identify and empirically investigate the individual-related factors influencing the Knowledge-sharing intention of individual employees in knowledge-intensive businesses. The literature review revealed twelve constructs, namely Individuals’ awareness, Intrinsic motivation, Extrinsic motivation, Transactional psychological contract breach, Relational psychological contract breach, Relationship conflict, Task conflict, Extraversion, Neuroticism, Openness to experience, Agreeableness and Conscientiousness that could influence the dependent variable Knowledge-sharing intention in knowledge-intensive businesses. Various moderating relationships between the dependent and independent variables were also proposed, while seven demographic variables (Age, Gender, Language, Highest qualification, Ethnic background, Organisational tenure and Job tenure of the respondent) were identified as potential control variables. Each construct in the hypothesised model of individual-related factors influencing Knowledge-sharing intention was defined and operationalised using items sourced from validated measuring instruments in previous studies. Several self-generated items based on secondary sources were also formulated. A structured questionnaire was made available to respondents identified by means of the convenience sampling technique, and the data collected from 597 usable questionnaires was subjected to various statistical analyses. An exploratory factor analysis (EFA) was conducted which confirmed the unique factors present in the data, and Cronbach-alpha coefficients were calculated to confirm the reliability of the measuring instrument. Structural equation modelling (SEM) was the main statistical procedure used to test the significance of the relationships hypothesised between the various independent and dependent variables. A subset of SEM, namely general linear modelling (GLM) was used to determine the influence of selected demographic variables on Knowledge-sharing intention and to assess various moderating relationships as proposed in the hypothesised model. The main findings of this study were that personality traits are strong predictors of individual employees‟ willingness to share knowledge, and that the maturity of individuals, in terms of realising the significance and value of sharing their knowledge with others, and in recognising the intrinsic benefits of sharing, influence Knowledge-sharing intention. The main limitations of the study were the use of a convenience sampling technique to collect the data, as well as the dependence of self-report by respondents, which could lead to response bias. This study has added to the body of knowledge management research, in particular knowledge-sharing research, by investigating selected individual-related factors influencing the Knowledge-sharing intention of individuals in a particular subset of businesses, namely knowledge-intensive businesses, and focusing on a particular type of knowledge, namely tacit knowledge. From a business‟s perspective, this study offers recommendations and suggestions for managing these individual-related factors in such a way as to increase knowledge sharing among employees, and as a result, the effectiveness and competitive advantage of knowledge-intensive businesses.
- Full Text:
- Date Issued: 2017
Local economic development: a study of Nelson Mandela Bay and Buffalo City Metropolitan Municipalities
- Authors: Ngatiane, Mativenga
- Date: 2017
- Subjects: Economic development -- South Africa -- Nelson Mandela Bay Municipality Economic development -- South Africa -- Eastern Cape , Local government -- South Africa -- Eastern Cape Municipal government -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19299 , vital:28829
- Description: Albeit in its infancy, South Africa’s LED practice is a benchmark of a large number of African countries in general and Sub-Saharan African countries in particular. The LED practice stands out, for widespread decentralisation of powers, massive and growing LED budgets, robust legal frameworks that govern its implementation and development of LED structures, amongst others. This study seeks to answer three critical questions: What theoretical LED facets (particular aspects) are available in literature? Are these facets being implemented in Nelson Mandela Bay Municipality (NMBM) and Buffalo City Metropolitan Municipality (BCMM)? Besides the effort and monies invested in ingraining LED in South Africa, are the levels of LED practices of the two municipalities deeply embedded in literature? The study utilises a purpose-built tool to measure the level at which LED practice of respective municipalities is ingrained in LED literature. The thesis employed both qualitative and quantitative research methods in order to provide scientifically adequate answers to this research. The former method was employed in identifying available LED facets while, the latter was useful in measuring the level at which LED practice in the two metros is embedded in LED theory. The research findings reveal presence of 6 LED facets, namely, enterprise development, locality development, livelihoods development, workforce development, community development and LED Governance. However, this study discovered that the aforementioned facets fail to cover other general items like the availability or unavailability of LED strategy, functional location of LED within municipal directorates and availability of a budget to drive the LED functions. In light of this, the researcher decided to group all the other key LED functions that he felt were not finding expression under the 6 facets identified in LED literature. This, then, led to the introduction of “General LED” facets. This facet, besides presenting a pre-cursor to the 6 other facets, manages to capture some key factors that are equally behind the success or failure of LED e.g. the LED strategy factor, a factor which a number of sources name “The heart” or “guiding compass” of successful LED implementation. The “General LED” facet contained other factors like: other plans that aided LED, experience of LED practitioners, budget allocation of the LED function, amongst others. The research found that all the 7 facets are being implemented in both municipalities, albeit to varying degrees. The two metropolitan municipalities’ LED practice, with respect to all the identified LED facets, provided some measure of their respective levels of embeddedness in LED theory using a purpose built tool. The embedded (ness) outcome proved that Nelson Mandela Bay Municipality’s LED practice was embedded in the LED theory across all the 7 facets, namely: general LED, enterprise development, locality development, community development, livelihood development, workforce development, and LED governance. The same analysis proved that Buffalo City Metropolitan Municipality’s LED practice was embedded in LED theory in all the other facets bar community development. The survey results revealed that there are inadequate or limited initiatives in Buffalo.
- Full Text:
- Date Issued: 2017
- Authors: Ngatiane, Mativenga
- Date: 2017
- Subjects: Economic development -- South Africa -- Nelson Mandela Bay Municipality Economic development -- South Africa -- Eastern Cape , Local government -- South Africa -- Eastern Cape Municipal government -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19299 , vital:28829
- Description: Albeit in its infancy, South Africa’s LED practice is a benchmark of a large number of African countries in general and Sub-Saharan African countries in particular. The LED practice stands out, for widespread decentralisation of powers, massive and growing LED budgets, robust legal frameworks that govern its implementation and development of LED structures, amongst others. This study seeks to answer three critical questions: What theoretical LED facets (particular aspects) are available in literature? Are these facets being implemented in Nelson Mandela Bay Municipality (NMBM) and Buffalo City Metropolitan Municipality (BCMM)? Besides the effort and monies invested in ingraining LED in South Africa, are the levels of LED practices of the two municipalities deeply embedded in literature? The study utilises a purpose-built tool to measure the level at which LED practice of respective municipalities is ingrained in LED literature. The thesis employed both qualitative and quantitative research methods in order to provide scientifically adequate answers to this research. The former method was employed in identifying available LED facets while, the latter was useful in measuring the level at which LED practice in the two metros is embedded in LED theory. The research findings reveal presence of 6 LED facets, namely, enterprise development, locality development, livelihoods development, workforce development, community development and LED Governance. However, this study discovered that the aforementioned facets fail to cover other general items like the availability or unavailability of LED strategy, functional location of LED within municipal directorates and availability of a budget to drive the LED functions. In light of this, the researcher decided to group all the other key LED functions that he felt were not finding expression under the 6 facets identified in LED literature. This, then, led to the introduction of “General LED” facets. This facet, besides presenting a pre-cursor to the 6 other facets, manages to capture some key factors that are equally behind the success or failure of LED e.g. the LED strategy factor, a factor which a number of sources name “The heart” or “guiding compass” of successful LED implementation. The “General LED” facet contained other factors like: other plans that aided LED, experience of LED practitioners, budget allocation of the LED function, amongst others. The research found that all the 7 facets are being implemented in both municipalities, albeit to varying degrees. The two metropolitan municipalities’ LED practice, with respect to all the identified LED facets, provided some measure of their respective levels of embeddedness in LED theory using a purpose built tool. The embedded (ness) outcome proved that Nelson Mandela Bay Municipality’s LED practice was embedded in the LED theory across all the 7 facets, namely: general LED, enterprise development, locality development, community development, livelihood development, workforce development, and LED governance. The same analysis proved that Buffalo City Metropolitan Municipality’s LED practice was embedded in LED theory in all the other facets bar community development. The survey results revealed that there are inadequate or limited initiatives in Buffalo.
- Full Text:
- Date Issued: 2017
Monetary and fiscal policy effects on unemployment and inflation in Uganda
- Authors: Sebuliba, Nantumbwe Aminah
- Date: 2017
- Subjects: Monetary policy -- Uganda Fiscal policy -- Uganda
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14904 , vital:27899
- Description: Over the recent past, Uganda has experienced disproportionate volatility in inflation alongside rapid growth of unemployment. Whilst inflation has been curtailed to single digit figures since the economic crisis of the 1970s, nevertheless, in the recent past, inflation volatility and unemployment have constrained Uganda’s growth outlook. Like many various developing countries, Uganda has interacted monetary and fiscal policy frameworks as macroeconomic tools to spur productive growth. Most developing countries like Uganda continue to grapple with the challenges of jobless growth which is largely attributed to unstable inflationary pressures as well as low investment which further eggravated rapid expansion in unemployment levels. Government policy efforts have recently been greatly inhibited by rising youth unemployment rates in the country, this has greatly affected Uganda’s growth dynamics. Whilst developed countries have successfully used monetary and fiscal policy frameworks in their pursuit to macroeconomic stability, due to their complex structural economic dynamics, low income countries face challenges in implementing both monetary and fiscal policy to stabilize their economies. Central banks across all countries strive for low and predictable inflation as key in fostering economic growth. The debate over the applicability between monetary and fiscal policy frameworks in the pursuit of enhanced growth continues among policy analysts. The general observation especially in low income countries pertains to the use and effective coordination of monetary and fiscal policy in efforts to stabilize these economies. Despite numerous public expenditure reforms implemented and decline in poverty levels in Uganda, unemployment continued to rise over the past decade consequently inhibiting the country’s growth prospects which has ultimately undermined the econoimy’s capacity to external shocks. Keynes and the monetarists ignited the contentious debate over the superiority between monetary and fiscal policy frameworks which has transformed macroeconomic policy application. A conducive private sector environment as well as large expansions of infrastructure are key fundamental aspects of the development strategy in developing countries, they enhance growth in per capita income. Whilst the monetary authority emphasizes price stability when formulating policies, the fiscal authority pursues its objectives accommodative of the underlying circumstances in the economy. This study aimed to establish an econometric model to predict the impact of monetary and fiscal policy on unemployment and inflation in Uganda using annual time series data for the period 1980 to 2013. The study sought to investigate the influence of monetary and fiscal policy variables on the Ugandan economy in relation to unemployment and inflation. The analysis in the study is based on a twofold oriented objective. The first objective was to investigate monetary and fiscal policy dynamics in Uganda in relation to unemployment. The second objective examined the conduct of monetary and fiscal policy framework on inflation in Uganda. The study analysis begins with a review of literature on the various monetarists and Keynesian theories in relation to the underlying monetary and fiscal policy frameworks. Considering the analysis was a twofold objective, two empirical models linked to unemployment and inflation as well as their relative determinants are specified. The Empirical literature review examined in the study is based on various monetary and fiscal policy theories as well as empirical works by Keynesians, classical economists and the Friedman views. The time series data used were obtained from published sources of the World Bank and IMF, the Uganda Bureau of Statistics (UBOS), Ministry of Finance, Planning and Economic Development (MoFPED) statistical reports and annual statistical drafts from the Uganda Revenue Authority (URA) and Bank of Uganda (BOU). To empirically investigate the influence of monetary and fiscal policy variables on unemployment and inflation in Uganda, considering the use of two dependent variables i. e unemployment and inflation, hence, two estimation techniques were applied in the study namely; the Modified Ordinary Least Squares that comprise of FMOLS and DOLS and the Autoregressive Distributed Lag (ARDL) approach. The estimation analysis in the study contains two main parts which are spread over two chapters. The first part of the analysis deals with the effects of fiscal and monetary policy on unemployment. The estimation techniques applied in the study included the Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) applied to a Vector Autoregressive (VAR) model. The analysis regressed monetary and fiscal policy aggregates on unemployment in a twofold objective. The first sub section regressed fiscal policy aggregates on unemployment using; total government expenditure, total government revenue, tax revenue and trade openness on unemployment using both FMOLS and DOLS techniques. The second sub-section regressed monetary policy on unemployment using; interest rates, money supply, real effective exchange rates and inflation being regressed against unemployment. To test for presence of unit root among the variables of the sample period of 1980 to 2013, the study employed three approaches; i.e. the Augmented Dickey Fuller (ADF) test, Phillips-Perron (PP) test and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) test. Included in this analysis is the test for structural breaks to further determine stationarity in the data series. The results revealed the presence of structural breaks. Structural breaks tend to inhibit stationarity among the variables at levels. However, when presence of structural breaks is taken into consideration, it simplifies empirical estimation analysis under review. The Johansen Cointegration approach was further applied to establish existence of a stable long-run relationship between monetary policy and fiscal policy as well as their respective variables included in the model in relation to unemployment, this further entailed estimation of FMOLS and DOLS in the model estimation analysis. The results from the above analysys show a negative and statistically significant relationship between total government expenditure (LGOVTEXP) and unemployment (LUNEMPLOYMENT). However, tax revenue, trade openness as well structural reforms which denotes the (SB) coefficient all show a positive and significant relationship with unemployment. Additionally, total government revenue (LGOVTREV) shows a negative relationship with unemployment although statistically insignificant. The DOLS results in this analysis all show statistically insignificant results between all the variables and unemployment. The second subsection using DOLS, analysed the impact of monetary policy on unemployment, revealed a negative and significant relation between interest rates, real exchange rates and structural reforms (SB) with unemployment. Money supply indicates a negative but statistically insignificant relationship with unemployment. However, inflation has a positive and statistically significant relationship with unemployment. The normality tests conducted indicate normal distribution of the residuals. Similiraly, the AR inverse roots show stability of the models estimated whilst the multi-collinearity and Wald tests all showed unbiased estimation results. Having analysed the effects of fiscal and monetary policy on unemployment the interest was to further test the impact of fiscal and monetary policy on inflation. This part constitutes two sub-sections. The ARDL approach ws used to analyse the influence of fiscal policy on inflation. The results reveal a negative and statistically significant relationship between inflation (DLINF) and total government expenditure (DLGOVTEXP) both lagged twice. Similiraly, total government revenue (DLGOVTREV) and tax revenue (DLTAXREV) both lagged once indicate a negative and statistically significant relationship with inflation. However, unemployment lagged three times indicates a negative and statistically insignificant relationship with inflation whilst trade openness lagged three times has a positive and satatistically significant relationship with inflation. The Granger causality test results revealed among all the fiscal policy aggregates used, only inflation Granger causes total government revenue. The second part on the effects of fiscal and monetary policy on inflation used monetary variables; interest rates (DLINT), money supply (DLMS) and real exchange rates (DLREER). The ARDL results revealed all coefficients to have positive signs. Inflation and real exchange rates lagged five and four times respectively have a positive and significant relationship with the dependent variable of inflation. However, interest rate and money supply lagged five and three times respectively show a positive and statistically insignificant relationship with inflation. The estimated model showed no evidence of presence of serial correlation through numerous diagnostic tests performed. These include; heteroscedasticity, residual normality and misspecification tests as well as the Cusum stability tests. Under the analysis of monetary policy dynamics on inflation, the Granger causality test revealed that inflation Granger causes interest rates. Similiraly, real exchange rate Granger causes inflation. The ARDL results in this sub-section suggest that inflation regressed against its own lagged values is statistically significant in explaining variations on inflation. Further, interest rates, money supply and real exchange rates significantly explain variations in inflation during the period under review. The results from the above analysis suggest that firstly, the fiscal authority in Uganda should formulate dynamic as well as robust fiscal reforms that can effeficiently be coordinated with sound monetary policy reforms. This ought to stimulate meaningful economic growth in the economy which would further enhance employment growth. Secondly, policy authorities should implement macroeconomic policies which harmonise public spending whilst at the same keep inflation subdued. In this regard, inflation targeting policies should be strengthened. Thirdly, the macroeconomic policy framework in Uganda should be coordinated with strong employment targeting policies in an effort to broaden labour market dynamics.
- Full Text:
- Date Issued: 2017
- Authors: Sebuliba, Nantumbwe Aminah
- Date: 2017
- Subjects: Monetary policy -- Uganda Fiscal policy -- Uganda
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14904 , vital:27899
- Description: Over the recent past, Uganda has experienced disproportionate volatility in inflation alongside rapid growth of unemployment. Whilst inflation has been curtailed to single digit figures since the economic crisis of the 1970s, nevertheless, in the recent past, inflation volatility and unemployment have constrained Uganda’s growth outlook. Like many various developing countries, Uganda has interacted monetary and fiscal policy frameworks as macroeconomic tools to spur productive growth. Most developing countries like Uganda continue to grapple with the challenges of jobless growth which is largely attributed to unstable inflationary pressures as well as low investment which further eggravated rapid expansion in unemployment levels. Government policy efforts have recently been greatly inhibited by rising youth unemployment rates in the country, this has greatly affected Uganda’s growth dynamics. Whilst developed countries have successfully used monetary and fiscal policy frameworks in their pursuit to macroeconomic stability, due to their complex structural economic dynamics, low income countries face challenges in implementing both monetary and fiscal policy to stabilize their economies. Central banks across all countries strive for low and predictable inflation as key in fostering economic growth. The debate over the applicability between monetary and fiscal policy frameworks in the pursuit of enhanced growth continues among policy analysts. The general observation especially in low income countries pertains to the use and effective coordination of monetary and fiscal policy in efforts to stabilize these economies. Despite numerous public expenditure reforms implemented and decline in poverty levels in Uganda, unemployment continued to rise over the past decade consequently inhibiting the country’s growth prospects which has ultimately undermined the econoimy’s capacity to external shocks. Keynes and the monetarists ignited the contentious debate over the superiority between monetary and fiscal policy frameworks which has transformed macroeconomic policy application. A conducive private sector environment as well as large expansions of infrastructure are key fundamental aspects of the development strategy in developing countries, they enhance growth in per capita income. Whilst the monetary authority emphasizes price stability when formulating policies, the fiscal authority pursues its objectives accommodative of the underlying circumstances in the economy. This study aimed to establish an econometric model to predict the impact of monetary and fiscal policy on unemployment and inflation in Uganda using annual time series data for the period 1980 to 2013. The study sought to investigate the influence of monetary and fiscal policy variables on the Ugandan economy in relation to unemployment and inflation. The analysis in the study is based on a twofold oriented objective. The first objective was to investigate monetary and fiscal policy dynamics in Uganda in relation to unemployment. The second objective examined the conduct of monetary and fiscal policy framework on inflation in Uganda. The study analysis begins with a review of literature on the various monetarists and Keynesian theories in relation to the underlying monetary and fiscal policy frameworks. Considering the analysis was a twofold objective, two empirical models linked to unemployment and inflation as well as their relative determinants are specified. The Empirical literature review examined in the study is based on various monetary and fiscal policy theories as well as empirical works by Keynesians, classical economists and the Friedman views. The time series data used were obtained from published sources of the World Bank and IMF, the Uganda Bureau of Statistics (UBOS), Ministry of Finance, Planning and Economic Development (MoFPED) statistical reports and annual statistical drafts from the Uganda Revenue Authority (URA) and Bank of Uganda (BOU). To empirically investigate the influence of monetary and fiscal policy variables on unemployment and inflation in Uganda, considering the use of two dependent variables i. e unemployment and inflation, hence, two estimation techniques were applied in the study namely; the Modified Ordinary Least Squares that comprise of FMOLS and DOLS and the Autoregressive Distributed Lag (ARDL) approach. The estimation analysis in the study contains two main parts which are spread over two chapters. The first part of the analysis deals with the effects of fiscal and monetary policy on unemployment. The estimation techniques applied in the study included the Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) applied to a Vector Autoregressive (VAR) model. The analysis regressed monetary and fiscal policy aggregates on unemployment in a twofold objective. The first sub section regressed fiscal policy aggregates on unemployment using; total government expenditure, total government revenue, tax revenue and trade openness on unemployment using both FMOLS and DOLS techniques. The second sub-section regressed monetary policy on unemployment using; interest rates, money supply, real effective exchange rates and inflation being regressed against unemployment. To test for presence of unit root among the variables of the sample period of 1980 to 2013, the study employed three approaches; i.e. the Augmented Dickey Fuller (ADF) test, Phillips-Perron (PP) test and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) test. Included in this analysis is the test for structural breaks to further determine stationarity in the data series. The results revealed the presence of structural breaks. Structural breaks tend to inhibit stationarity among the variables at levels. However, when presence of structural breaks is taken into consideration, it simplifies empirical estimation analysis under review. The Johansen Cointegration approach was further applied to establish existence of a stable long-run relationship between monetary policy and fiscal policy as well as their respective variables included in the model in relation to unemployment, this further entailed estimation of FMOLS and DOLS in the model estimation analysis. The results from the above analysys show a negative and statistically significant relationship between total government expenditure (LGOVTEXP) and unemployment (LUNEMPLOYMENT). However, tax revenue, trade openness as well structural reforms which denotes the (SB) coefficient all show a positive and significant relationship with unemployment. Additionally, total government revenue (LGOVTREV) shows a negative relationship with unemployment although statistically insignificant. The DOLS results in this analysis all show statistically insignificant results between all the variables and unemployment. The second subsection using DOLS, analysed the impact of monetary policy on unemployment, revealed a negative and significant relation between interest rates, real exchange rates and structural reforms (SB) with unemployment. Money supply indicates a negative but statistically insignificant relationship with unemployment. However, inflation has a positive and statistically significant relationship with unemployment. The normality tests conducted indicate normal distribution of the residuals. Similiraly, the AR inverse roots show stability of the models estimated whilst the multi-collinearity and Wald tests all showed unbiased estimation results. Having analysed the effects of fiscal and monetary policy on unemployment the interest was to further test the impact of fiscal and monetary policy on inflation. This part constitutes two sub-sections. The ARDL approach ws used to analyse the influence of fiscal policy on inflation. The results reveal a negative and statistically significant relationship between inflation (DLINF) and total government expenditure (DLGOVTEXP) both lagged twice. Similiraly, total government revenue (DLGOVTREV) and tax revenue (DLTAXREV) both lagged once indicate a negative and statistically significant relationship with inflation. However, unemployment lagged three times indicates a negative and statistically insignificant relationship with inflation whilst trade openness lagged three times has a positive and satatistically significant relationship with inflation. The Granger causality test results revealed among all the fiscal policy aggregates used, only inflation Granger causes total government revenue. The second part on the effects of fiscal and monetary policy on inflation used monetary variables; interest rates (DLINT), money supply (DLMS) and real exchange rates (DLREER). The ARDL results revealed all coefficients to have positive signs. Inflation and real exchange rates lagged five and four times respectively have a positive and significant relationship with the dependent variable of inflation. However, interest rate and money supply lagged five and three times respectively show a positive and statistically insignificant relationship with inflation. The estimated model showed no evidence of presence of serial correlation through numerous diagnostic tests performed. These include; heteroscedasticity, residual normality and misspecification tests as well as the Cusum stability tests. Under the analysis of monetary policy dynamics on inflation, the Granger causality test revealed that inflation Granger causes interest rates. Similiraly, real exchange rate Granger causes inflation. The ARDL results in this sub-section suggest that inflation regressed against its own lagged values is statistically significant in explaining variations on inflation. Further, interest rates, money supply and real exchange rates significantly explain variations in inflation during the period under review. The results from the above analysis suggest that firstly, the fiscal authority in Uganda should formulate dynamic as well as robust fiscal reforms that can effeficiently be coordinated with sound monetary policy reforms. This ought to stimulate meaningful economic growth in the economy which would further enhance employment growth. Secondly, policy authorities should implement macroeconomic policies which harmonise public spending whilst at the same keep inflation subdued. In this regard, inflation targeting policies should be strengthened. Thirdly, the macroeconomic policy framework in Uganda should be coordinated with strong employment targeting policies in an effort to broaden labour market dynamics.
- Full Text:
- Date Issued: 2017
Online mentoring as a transformative tool for female career and business development
- Authors: Oosthuizen, Nadine
- Date: 2017
- Subjects: Mentoring in business -- South Africa Glass ceiling (Employment discrimination) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20510 , vital:29301
- Description: The under-representation of females at management level due to the glass ceiling effect has globally received considerable attention. Research found that one of the remedies for females to progress beyond the glass ceiling, was access to a mentor in senior management. Females receiving mentoring in the workplace perform at greater levels as they gain reflected power, advise and the right to use essential resources. Yet, access to mentors was recognised as a barrier to females’ professional career success, both in the corporate field and to develop their small businesses. Fortunately, the revolution in technology has led to online mentoring which combines conventional mentoring relationship approaches with new technology and provides wider access to a pool of mentors. The increasing popularity of online mentoring can be attributed to the benefits it offers stereotyped individuals and those from marginalised groups. The purpose of this study therefore was to ascertain the enabling conditions necessary for effective online mentoring in South Africa, as well as how it can be used to develop the careers of females (both corporate employees and small business entrepreneurs). The study followed a mixed method approach with a sequential exploratory design. Background literature on conventional mentoring in addition to oniline mentoring assisted in contextualising the many issues relating to conventional mentoring which also apply to online mentoring. Primary data was collected in three phases (two qualitative and one quantitative). The data collection method for phases one and two of the enquiry was interviews with the use of a semi-structured interview schedule and for phase three, a survey via an online structured questionnaire. The biographical profiles of the participants interviewed during phases one and two were presented as case studies. Based on the content analysis of the qualitative interviews with five South African mentors, six female mentees from Africa, two South African online mentoring field specialists and one United States online mentoring field specialist, three main themes were identified viz. online mentoring processes, challenges and enabling conditions. Online mentoring processes identified for effective online mentoring related to the application-, selection-, matching- and conflict resolution procedures. Mentoring challenges related to matching preferences, technology impediments, cultural fit problems, language differences, lack of mutual trust, scheduling and frequency and duration of meetings, the impersonal nature of online mentoring and specific mentee- and mentor-related challenges. Based on the content analysis, the conditions for creating an effective online mentoring environment addressed some of the challenges alluded to and could be classified as generic, mentee-specific and mentor-specific enablers. Generic online mentoring enablers are those conditions necessary for creating an effective online mentoring environment for the mentoring pair such as the ability to establish a trusting relationship, flexible meeting schedules, training offered, the expression of emotions online, having a technology infrastructure in place, clear objectives and relationship boundaries, a desirable programme- and meeting duration with adequate meetings, using multiple contact methods and following a hybrid mentoring approach. Mentor specific issues to create an effective online mentoring environment are mentors with exceptional personal qualities that are knowledgable and experienced, while mentee specific issues relate to continuous mentee commitment and that mentees should have been previously exposed to mentoring. The constant comparative data analysis provided insight into how similar or dissimilar institutions approach online mentoring process and the challenges related to the local (South African) online mentoring environment as compared to those globally. Sixty-three respondents (South African mentors both male and female and female mentees who have undergone conventional mentoring) completed the online structured questionnaire on their perceptions of the online mentoring conditions necessary for effective online mentoring. From the exploratory factor analysis results of the online survey in phase three of the study, six valid and reliable conditions necessary for online mentoring were identified namely, infrastructure readiness, demographic matching preference, mentor characteristics, the communication process, mentoring pair perceptions and mentoring pair relationship. The multiple regression analysis performed established one statistically significant relationship. The perception that the mentoring pair hold of online mentoring influence the achievements of the mentee. This study has thus identified several conditions necessary for effective online mentoring globally, as well as for South Africa. South Africa has a pool of knowledgeable mentors involved in global online mentoring progammes and they can assist with online mentoring in the South African communities in need of assistance. However, South Africa can learn from well-established global online mentoring institutions how to implement an effective online mentoring programme, but will need the necessary financial resources to do so. This study further provided evidence on how online mentoring can be utilised for the career advancement of female corporate employees and those owning small businesses. Some guidelines were provided on how to overcome the various challenges associated with online mentoring globally, and those specific to South Africa. The use of mobile technology instead of computer-mediated technology was recommended as it provides greater access to online mentoring, especially for rural communities. It is also more user-friendly for those with limited computer technology skills.
- Full Text:
- Date Issued: 2017
- Authors: Oosthuizen, Nadine
- Date: 2017
- Subjects: Mentoring in business -- South Africa Glass ceiling (Employment discrimination) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20510 , vital:29301
- Description: The under-representation of females at management level due to the glass ceiling effect has globally received considerable attention. Research found that one of the remedies for females to progress beyond the glass ceiling, was access to a mentor in senior management. Females receiving mentoring in the workplace perform at greater levels as they gain reflected power, advise and the right to use essential resources. Yet, access to mentors was recognised as a barrier to females’ professional career success, both in the corporate field and to develop their small businesses. Fortunately, the revolution in technology has led to online mentoring which combines conventional mentoring relationship approaches with new technology and provides wider access to a pool of mentors. The increasing popularity of online mentoring can be attributed to the benefits it offers stereotyped individuals and those from marginalised groups. The purpose of this study therefore was to ascertain the enabling conditions necessary for effective online mentoring in South Africa, as well as how it can be used to develop the careers of females (both corporate employees and small business entrepreneurs). The study followed a mixed method approach with a sequential exploratory design. Background literature on conventional mentoring in addition to oniline mentoring assisted in contextualising the many issues relating to conventional mentoring which also apply to online mentoring. Primary data was collected in three phases (two qualitative and one quantitative). The data collection method for phases one and two of the enquiry was interviews with the use of a semi-structured interview schedule and for phase three, a survey via an online structured questionnaire. The biographical profiles of the participants interviewed during phases one and two were presented as case studies. Based on the content analysis of the qualitative interviews with five South African mentors, six female mentees from Africa, two South African online mentoring field specialists and one United States online mentoring field specialist, three main themes were identified viz. online mentoring processes, challenges and enabling conditions. Online mentoring processes identified for effective online mentoring related to the application-, selection-, matching- and conflict resolution procedures. Mentoring challenges related to matching preferences, technology impediments, cultural fit problems, language differences, lack of mutual trust, scheduling and frequency and duration of meetings, the impersonal nature of online mentoring and specific mentee- and mentor-related challenges. Based on the content analysis, the conditions for creating an effective online mentoring environment addressed some of the challenges alluded to and could be classified as generic, mentee-specific and mentor-specific enablers. Generic online mentoring enablers are those conditions necessary for creating an effective online mentoring environment for the mentoring pair such as the ability to establish a trusting relationship, flexible meeting schedules, training offered, the expression of emotions online, having a technology infrastructure in place, clear objectives and relationship boundaries, a desirable programme- and meeting duration with adequate meetings, using multiple contact methods and following a hybrid mentoring approach. Mentor specific issues to create an effective online mentoring environment are mentors with exceptional personal qualities that are knowledgable and experienced, while mentee specific issues relate to continuous mentee commitment and that mentees should have been previously exposed to mentoring. The constant comparative data analysis provided insight into how similar or dissimilar institutions approach online mentoring process and the challenges related to the local (South African) online mentoring environment as compared to those globally. Sixty-three respondents (South African mentors both male and female and female mentees who have undergone conventional mentoring) completed the online structured questionnaire on their perceptions of the online mentoring conditions necessary for effective online mentoring. From the exploratory factor analysis results of the online survey in phase three of the study, six valid and reliable conditions necessary for online mentoring were identified namely, infrastructure readiness, demographic matching preference, mentor characteristics, the communication process, mentoring pair perceptions and mentoring pair relationship. The multiple regression analysis performed established one statistically significant relationship. The perception that the mentoring pair hold of online mentoring influence the achievements of the mentee. This study has thus identified several conditions necessary for effective online mentoring globally, as well as for South Africa. South Africa has a pool of knowledgeable mentors involved in global online mentoring progammes and they can assist with online mentoring in the South African communities in need of assistance. However, South Africa can learn from well-established global online mentoring institutions how to implement an effective online mentoring programme, but will need the necessary financial resources to do so. This study further provided evidence on how online mentoring can be utilised for the career advancement of female corporate employees and those owning small businesses. Some guidelines were provided on how to overcome the various challenges associated with online mentoring globally, and those specific to South Africa. The use of mobile technology instead of computer-mediated technology was recommended as it provides greater access to online mentoring, especially for rural communities. It is also more user-friendly for those with limited computer technology skills.
- Full Text:
- Date Issued: 2017
Perceptions regarding the impact of ubuntu and servant leadership on employee engagement in the workplace
- Authors: Muller, Roger Joseph
- Date: 2017
- Subjects: Leadership Management -- South Africa , Management -- Africa -- Philosophy Employees -- Attitudes Organizational effectiveness -- South Africa
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19409 , vital:28868
- Description: South Africa have some of the lowest employee engagement scores in the world. Leadership is a key determinant of employee engagement, but existing leadership theories and practices are often ineffective in more humanistic and collectivistic cultures like South Africa. To this end, Ubuntu and servant leadership is posited to positively influence organisational performance by increasing employee engagement. The primary objective of this study is to investigate perceptions regarding the impact of Ubuntu and servant leadership on employee engagement in private organisations of the Eastern Cape. A quantitative research design was utilised and yielded 428 usable questionnaires through nonprobability sampling. The empirical results revealed that the spirit of solidarity dimension of Ubuntu leadership influenced significantly and positively. Furthermore, it was found that survival and spirit of solidarity had a significant and positive influence on organisational performance as measured through the balanced scorecard (BSC). Servant leadership positively and significantly influenced employee engagement and organisational performance. In addition, it was found that employee engagement mediates the relationship between servant leadership and organizational performance. This study has made several significant empirical and theoretical contributions, and can be classified as one of the pioneering attempts to gather empirical evidence on how Ubuntu manifests in the workplace. The high convergent validity of the dimensions of Ubuntu leadership and comparisons to Servant leadership established in this study, provides some proof of its novel contribution towards leadership theory. A highly reliable and valid measuring instrument was developed to evaluate Ubuntu from a leadership perspective. This is a major empirical contribution as, at the time, there were no reliable scales available in South Africa to measure Ubuntu leadership.
- Full Text:
- Date Issued: 2017
- Authors: Muller, Roger Joseph
- Date: 2017
- Subjects: Leadership Management -- South Africa , Management -- Africa -- Philosophy Employees -- Attitudes Organizational effectiveness -- South Africa
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19409 , vital:28868
- Description: South Africa have some of the lowest employee engagement scores in the world. Leadership is a key determinant of employee engagement, but existing leadership theories and practices are often ineffective in more humanistic and collectivistic cultures like South Africa. To this end, Ubuntu and servant leadership is posited to positively influence organisational performance by increasing employee engagement. The primary objective of this study is to investigate perceptions regarding the impact of Ubuntu and servant leadership on employee engagement in private organisations of the Eastern Cape. A quantitative research design was utilised and yielded 428 usable questionnaires through nonprobability sampling. The empirical results revealed that the spirit of solidarity dimension of Ubuntu leadership influenced significantly and positively. Furthermore, it was found that survival and spirit of solidarity had a significant and positive influence on organisational performance as measured through the balanced scorecard (BSC). Servant leadership positively and significantly influenced employee engagement and organisational performance. In addition, it was found that employee engagement mediates the relationship between servant leadership and organizational performance. This study has made several significant empirical and theoretical contributions, and can be classified as one of the pioneering attempts to gather empirical evidence on how Ubuntu manifests in the workplace. The high convergent validity of the dimensions of Ubuntu leadership and comparisons to Servant leadership established in this study, provides some proof of its novel contribution towards leadership theory. A highly reliable and valid measuring instrument was developed to evaluate Ubuntu from a leadership perspective. This is a major empirical contribution as, at the time, there were no reliable scales available in South Africa to measure Ubuntu leadership.
- Full Text:
- Date Issued: 2017
Potential use of Islamic finance among Muslims in Port Elizabeth
- Authors: Ismail, Badroen
- Date: 2017
- Subjects: Finance -- Religious aspects Banks and banking -- Religious aspects -- Islam , Consumer behavior -- Religious aspects
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/17526 , vital:28374
- Description: The resurgence of Islam across the globe combined with the resilience that Islamic financial assets have shown against the onslaught of the current financial crisis, make Islamic finance an attractive alternative financial system. Over the past decade, the Islamic finance sector have shown double digit growth rates beyond the traditional areas of the Gulf Cooperation Council (GCC) regions of Asia as well as other parts of the Middle-East and North Africa (MENA) regions. Research suggests that the future of Islamic finance in Africa depends on business opportunities in South Africa, Kenya, Nigeria and Senegal. The South African government, in conjunction with the national finance authorities, have made their intention clear to position the country as the Islamic finance hub for the rest of the African continent. Despite various marketing campaigns over the past decade to convince the public that Islamic banking and finance is for everyone, non-Muslims generally view Islamic banking as being for Muslims alone. Scepticism towards Islamic finance has resulted in a mere 15 per cent of the estimated 1.5 million South African Muslims currently making use of the sector’s banking and retail instruments. This lack of interest is impacting negatively on the country’s aspirations to establish itself as the gateway of Islamic finance to the rest of Africa. Generally, people’s attitudes toward utilising Islamic finance are regarded as a key obstacle to the development of the Islamic banking and finance system in Muslim minority countries. A Kuwait Finance House research report (2012) highlighted a lack of awareness and knowledge of Islamic finance products and services as key factors stifling the growth of the Islamic finance sector in South Africa. In this context, it was deemed necessary to analyse how knowledge, awareness, expectations, beliefs, perceptions and ancillary external factors impact on potential users’ attitude and decision to adopt or reject Islamic finance.By means of adapting Fishbein’s (2000; 2008) Integrative Model of Behavioural Prediction, a universally-acceptable behavioural-change model, this research explains in a holistic manner how cognitive, affective and environmental measures impact on a Port Elizabethan Muslim’s attitude and eventual decision to accept (or reject) Islamic finance. This study has found that knowledge was the most important variable influencing attitude and intention to use (or reject) Islamic finance. Consequently, this thesis proposed that Islamic institutions should focus their efforts on promoting knowledge and awareness of their products among the South African Muslim and non- Muslim population. As the global Shari’ah finance industry continues its positive growth trajectory, it is imperative that Islamic finance stakeholders in South Africa ensure that they exploit the benefits derived from online learning platforms and assist, by means of cross-border collaborations, more students to have greater access to Islamic finance courses. Furthermore, universities and training institutions are encouraged to offer courses and qualifications in Islamic finance to close the talent gap that currently exist in this particular field of study.
- Full Text:
- Date Issued: 2017
- Authors: Ismail, Badroen
- Date: 2017
- Subjects: Finance -- Religious aspects Banks and banking -- Religious aspects -- Islam , Consumer behavior -- Religious aspects
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/17526 , vital:28374
- Description: The resurgence of Islam across the globe combined with the resilience that Islamic financial assets have shown against the onslaught of the current financial crisis, make Islamic finance an attractive alternative financial system. Over the past decade, the Islamic finance sector have shown double digit growth rates beyond the traditional areas of the Gulf Cooperation Council (GCC) regions of Asia as well as other parts of the Middle-East and North Africa (MENA) regions. Research suggests that the future of Islamic finance in Africa depends on business opportunities in South Africa, Kenya, Nigeria and Senegal. The South African government, in conjunction with the national finance authorities, have made their intention clear to position the country as the Islamic finance hub for the rest of the African continent. Despite various marketing campaigns over the past decade to convince the public that Islamic banking and finance is for everyone, non-Muslims generally view Islamic banking as being for Muslims alone. Scepticism towards Islamic finance has resulted in a mere 15 per cent of the estimated 1.5 million South African Muslims currently making use of the sector’s banking and retail instruments. This lack of interest is impacting negatively on the country’s aspirations to establish itself as the gateway of Islamic finance to the rest of Africa. Generally, people’s attitudes toward utilising Islamic finance are regarded as a key obstacle to the development of the Islamic banking and finance system in Muslim minority countries. A Kuwait Finance House research report (2012) highlighted a lack of awareness and knowledge of Islamic finance products and services as key factors stifling the growth of the Islamic finance sector in South Africa. In this context, it was deemed necessary to analyse how knowledge, awareness, expectations, beliefs, perceptions and ancillary external factors impact on potential users’ attitude and decision to adopt or reject Islamic finance.By means of adapting Fishbein’s (2000; 2008) Integrative Model of Behavioural Prediction, a universally-acceptable behavioural-change model, this research explains in a holistic manner how cognitive, affective and environmental measures impact on a Port Elizabethan Muslim’s attitude and eventual decision to accept (or reject) Islamic finance. This study has found that knowledge was the most important variable influencing attitude and intention to use (or reject) Islamic finance. Consequently, this thesis proposed that Islamic institutions should focus their efforts on promoting knowledge and awareness of their products among the South African Muslim and non- Muslim population. As the global Shari’ah finance industry continues its positive growth trajectory, it is imperative that Islamic finance stakeholders in South Africa ensure that they exploit the benefits derived from online learning platforms and assist, by means of cross-border collaborations, more students to have greater access to Islamic finance courses. Furthermore, universities and training institutions are encouraged to offer courses and qualifications in Islamic finance to close the talent gap that currently exist in this particular field of study.
- Full Text:
- Date Issued: 2017
The adoption of employee share ownership plans (ESOPs) in Nigeria
- Authors: Akponah, Voke Blessing
- Date: 2017
- Subjects: Employee ownership -- Nigeria , Profit-sharing -- Nigeria Management -- Employee participation -- Nigeria Nigeria -- Economic aspects
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13834 , vital:27312
- Description: This study investigated the factors that influence the adoption of ESOPs in Nigeria. Furthermore, the study investigated the influence of the adoption of ESOPs on organisational performance, employee retention and employee commitment. The study results reveal that trade union responsiveness, reforms, awareness of employee benefits and taxation implication positively influence the adoption of ESOPs based on transparency. The results in this study further reveal that trade union responsiveness, takeovers, reforms, awareness of employee benefits and taxation implication effectively influence the adoption of ESOPs based on two-way communication. In addition, the study results reveal that trade union responsiveness, takeovers, reforms, awareness of employee benefits and trust positively influence the adoption of ESOPs based on empowerment. The study further reveals that adoption of ESOPs based on transparency, two-way communication and empowerment leads to organisational performance, employee retention and employee commitment. This study, being the first of its kind in Nigeria, filled the gap that existed in the Nigerian literature in respect of the awareness and adoption of ESOPs. This study provides literature and theoretical model that can be used as a foundation by organisations and the government to start up the adoption of ESOPs. This study showed that ESOPs is beneficial to boost the economy, enhance desired organisational outcomes (organisational performance, employee retention and employee commitment) and meet the financial and retirement needs of employees. However, for organisations and employees to enjoy the full benefits of ESOPs, underlying forces such as, trade union responsiveness, takeovers, reforms, awareness of employee benefits, trusts and taxation implication must be taken into account. Furthermore, the adoption, implementation and operations of ESOPs will be successful management, trade union leaders and employees utilise strategies such as, transparency, two-way communication and empowerment.
- Full Text:
- Date Issued: 2017
- Authors: Akponah, Voke Blessing
- Date: 2017
- Subjects: Employee ownership -- Nigeria , Profit-sharing -- Nigeria Management -- Employee participation -- Nigeria Nigeria -- Economic aspects
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13834 , vital:27312
- Description: This study investigated the factors that influence the adoption of ESOPs in Nigeria. Furthermore, the study investigated the influence of the adoption of ESOPs on organisational performance, employee retention and employee commitment. The study results reveal that trade union responsiveness, reforms, awareness of employee benefits and taxation implication positively influence the adoption of ESOPs based on transparency. The results in this study further reveal that trade union responsiveness, takeovers, reforms, awareness of employee benefits and taxation implication effectively influence the adoption of ESOPs based on two-way communication. In addition, the study results reveal that trade union responsiveness, takeovers, reforms, awareness of employee benefits and trust positively influence the adoption of ESOPs based on empowerment. The study further reveals that adoption of ESOPs based on transparency, two-way communication and empowerment leads to organisational performance, employee retention and employee commitment. This study, being the first of its kind in Nigeria, filled the gap that existed in the Nigerian literature in respect of the awareness and adoption of ESOPs. This study provides literature and theoretical model that can be used as a foundation by organisations and the government to start up the adoption of ESOPs. This study showed that ESOPs is beneficial to boost the economy, enhance desired organisational outcomes (organisational performance, employee retention and employee commitment) and meet the financial and retirement needs of employees. However, for organisations and employees to enjoy the full benefits of ESOPs, underlying forces such as, trade union responsiveness, takeovers, reforms, awareness of employee benefits, trusts and taxation implication must be taken into account. Furthermore, the adoption, implementation and operations of ESOPs will be successful management, trade union leaders and employees utilise strategies such as, transparency, two-way communication and empowerment.
- Full Text:
- Date Issued: 2017
The impact of different exchange-rate policies on SADC economies
- Authors: Qabhobho, Thobekile
- Date: 2017
- Subjects: Southern African Development Community -- Economic conditions , Foreign exchange rates International economic relations Developing countries -- Economic policy
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19883 , vital:28996
- Description: An exchange-rate regime is an essential element of a country’s regional and international trade, since it is the monetary link between its domestic and international economy. Appropriate exchange-rate regimes that would facilitate capital flows, trade, Foreign Direct Investment (FDI) and economic growth need to be identified and researched within the Southern Africa Development Community (SADC). This study investigated five underlying themes on exchange-rate regimes, behaviour and monetary policy-related issues in the SADC region: the different exchange-rate regimes’ performance and features – before, during and after the 2007/2008 financial crisis; the implication of the adopted exchange-rate regime on monetary-policy independence through examining the impact of the U.S. interest rate on domestic interest rates; the transmission of the South African exchange-rate volatility to other SADC currencies during and after the 2007/2008 financial crisis; the relationship between the exchange-market pressure and monetary policy, and the relationship between exchange rates and stock prices. The following models were used to address the identified themes: the Exchange-Flexibility Index; the Regression-Based Model; the General Methods of Moments (GMM) Model; the GARCH (p, q) Model; the Exponential GARCH Model; the VAR framework, and the Granger-Causality Tests in the VAR System, with their Impulse Response Functions (IRF) and Variance Decomposition. These models were applied to cover different aspects of the study before, during and after the 2007/ 2008 financial-crisis periods. They enabled critical evaluation of the exchange-rate policies, behaviours and performances. The results of the thesis indicate that, in general, both fixed and flexible exchange rates became more flexible after the crisis period and the influence of the United States (U.S.) Dollar, Chinese RMB and EURO was affirmed. There was no evidence of an increase in the co-ordination of SADC currency arrangements in the post-crisis period. Countries with a fixed exchange-rate regime responded more to international interest rates. The study further confirmed the presence of the Rand volatility-contagion effect during the crisis period, as well as its spill-over effect during tranquil periods, to most currency markets in the region. The evaluation of the relationship between the Exchange-Market Pressure (EMP) and monetary policy relationship revealed their close interdependence. This confirms traditional theories that a tighter monetary policy reduces the EMP. The portfolio theory was further affirmed in that stock prices Granger-cause the exchange rates. The recommendations emanating from this study include modernisation of the financial systems of SADC states to cope with foreign capital flows and external shocks, especially since global and regional economies are intensifying, as well as deepening of financial regulations and supervision of financial systems. Furthermore, there is a need for governments and central banks to synchronise their economic policies to minimise the negative effect of global financial crises. The fixed exchange rate regimes and intermediate regimes proved more suitable to countries with less exposure to global capital markets. However, they should prepare their financial institutions to cope with the transition from peg arrangements to more flexible exchange rate regimes. Countries are more appealing if they have more advanced financial markets, links to global capital markets and flexible exchange rate regimes. SADC countries will eventually engage in full global financial integration because of the intensification of global financial markets. This will require the countries to adopt exchange-rate stability and financial integration, but sacrifice monetary autonomy; alternatively, they could achieve monetary independence with financial integration, but sacrifice exchange-rate stability. The results clarify that currency exchange shocks in one country can cause a persistent rise in the volatility of other countries’ foreign exchange markets. These results show that the Central Banks in SADC countries will need to take policy actions following a large exchange rate shock. Therefore, the results on the exchange-rate volatility theme are useful for policy makers to formulate and implement appropriate policies in the event an adverse shock is observed in SADC exchange markets where contagion/spill over effect is empirically manifested. Even though a rise in short-term interest rates could reduce the EMP, it could also further raise the fluctuations of short-term interest rates. Stabilising the EMP through manipulating short-term interest rates will often heighten volatility of interest rates for an extended period. The assumption that changes in the exchange rate affect the competitiveness of a firm, thus influencing the firm’s earnings, net worth, and stock prices was not supported by the results of this study for the period under analysis. However, the results concur with the portfolio theory that stock prices Granger-cause the exchange rates. This might mean that there is high movement of investors’ money between the South African stock markets and that of other countries. This will have significant influence on the demand for and supply of the South African Rand, which often is in disequilibrium. The policy implication is that the Central Bank should pay more attention to stabilising exchange rates against the major currencies. The results of this study have critical implications for monetary authorities (Central Banks) and decision-makers in business.
- Full Text:
- Date Issued: 2017
- Authors: Qabhobho, Thobekile
- Date: 2017
- Subjects: Southern African Development Community -- Economic conditions , Foreign exchange rates International economic relations Developing countries -- Economic policy
- Language: English
- Type: Thesis , Doctoral , DPhil
- Identifier: http://hdl.handle.net/10948/19883 , vital:28996
- Description: An exchange-rate regime is an essential element of a country’s regional and international trade, since it is the monetary link between its domestic and international economy. Appropriate exchange-rate regimes that would facilitate capital flows, trade, Foreign Direct Investment (FDI) and economic growth need to be identified and researched within the Southern Africa Development Community (SADC). This study investigated five underlying themes on exchange-rate regimes, behaviour and monetary policy-related issues in the SADC region: the different exchange-rate regimes’ performance and features – before, during and after the 2007/2008 financial crisis; the implication of the adopted exchange-rate regime on monetary-policy independence through examining the impact of the U.S. interest rate on domestic interest rates; the transmission of the South African exchange-rate volatility to other SADC currencies during and after the 2007/2008 financial crisis; the relationship between the exchange-market pressure and monetary policy, and the relationship between exchange rates and stock prices. The following models were used to address the identified themes: the Exchange-Flexibility Index; the Regression-Based Model; the General Methods of Moments (GMM) Model; the GARCH (p, q) Model; the Exponential GARCH Model; the VAR framework, and the Granger-Causality Tests in the VAR System, with their Impulse Response Functions (IRF) and Variance Decomposition. These models were applied to cover different aspects of the study before, during and after the 2007/ 2008 financial-crisis periods. They enabled critical evaluation of the exchange-rate policies, behaviours and performances. The results of the thesis indicate that, in general, both fixed and flexible exchange rates became more flexible after the crisis period and the influence of the United States (U.S.) Dollar, Chinese RMB and EURO was affirmed. There was no evidence of an increase in the co-ordination of SADC currency arrangements in the post-crisis period. Countries with a fixed exchange-rate regime responded more to international interest rates. The study further confirmed the presence of the Rand volatility-contagion effect during the crisis period, as well as its spill-over effect during tranquil periods, to most currency markets in the region. The evaluation of the relationship between the Exchange-Market Pressure (EMP) and monetary policy relationship revealed their close interdependence. This confirms traditional theories that a tighter monetary policy reduces the EMP. The portfolio theory was further affirmed in that stock prices Granger-cause the exchange rates. The recommendations emanating from this study include modernisation of the financial systems of SADC states to cope with foreign capital flows and external shocks, especially since global and regional economies are intensifying, as well as deepening of financial regulations and supervision of financial systems. Furthermore, there is a need for governments and central banks to synchronise their economic policies to minimise the negative effect of global financial crises. The fixed exchange rate regimes and intermediate regimes proved more suitable to countries with less exposure to global capital markets. However, they should prepare their financial institutions to cope with the transition from peg arrangements to more flexible exchange rate regimes. Countries are more appealing if they have more advanced financial markets, links to global capital markets and flexible exchange rate regimes. SADC countries will eventually engage in full global financial integration because of the intensification of global financial markets. This will require the countries to adopt exchange-rate stability and financial integration, but sacrifice monetary autonomy; alternatively, they could achieve monetary independence with financial integration, but sacrifice exchange-rate stability. The results clarify that currency exchange shocks in one country can cause a persistent rise in the volatility of other countries’ foreign exchange markets. These results show that the Central Banks in SADC countries will need to take policy actions following a large exchange rate shock. Therefore, the results on the exchange-rate volatility theme are useful for policy makers to formulate and implement appropriate policies in the event an adverse shock is observed in SADC exchange markets where contagion/spill over effect is empirically manifested. Even though a rise in short-term interest rates could reduce the EMP, it could also further raise the fluctuations of short-term interest rates. Stabilising the EMP through manipulating short-term interest rates will often heighten volatility of interest rates for an extended period. The assumption that changes in the exchange rate affect the competitiveness of a firm, thus influencing the firm’s earnings, net worth, and stock prices was not supported by the results of this study for the period under analysis. However, the results concur with the portfolio theory that stock prices Granger-cause the exchange rates. This might mean that there is high movement of investors’ money between the South African stock markets and that of other countries. This will have significant influence on the demand for and supply of the South African Rand, which often is in disequilibrium. The policy implication is that the Central Bank should pay more attention to stabilising exchange rates against the major currencies. The results of this study have critical implications for monetary authorities (Central Banks) and decision-makers in business.
- Full Text:
- Date Issued: 2017