The personal financial management attitudes and practices of South African rugby players
- Authors: Acker, Enrico
- Date: 2016
- Subjects: Rugby football players -- South Africa -- Finance, Personal Finance, Personal -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11363 , vital:26915
- Description: When rugby became professional in 1995, both the game and the social and financial position of the players changed (Basson, 2003). Players started to train full-time and earned annual salaries (Goldman& Johns, 2009). Due to the transition from amateur to professional status, rugby players needed to make adequate personal financial management decisions. The purpose of this study is to investigate the personal financial management attitudes and practices of South African rugby players. Previous research about personal financial management largely focussed on the general public, and did not focus on South African rugby players. Rugby is a professional sport where players earn money from a young age. It is expected of rugby players to make adequate personal financial decisions from as early as 19 years old. The literature review provided an overview of personal financial management and a discussion on the various components that should be included in personal financial management. A framework for this study was developed. The framework used these components as the base for the personal financial attitudes and practices and how it relates to the demographics of the respondents. Three hypotheses were also formulated based on the literature overview and framework. The objectives of this study were achieved by adopting a quantitative research methodology. A convenience sample of 132 rugby players was drawn for this study. Rugby players from NMMU Madibaz, Eastern Province Rugby Union (EP), South Western Districts Rugby Union (SWD) and Sharks Rugby Union participated in this study. The results of the empirical survey showed that respondents have positive attitudes towards the importance of budgeting, retirement planning, risk management, debt management and investment and the importance of employing a financial planner. On the other hand the personal financial management practices of the respondents in this study can be described as weak. From the results of the empirical survey it is clear that the respondents have weak practices towards the majority of the personal financial management practices. Only one of the three hypotheses was accepted namely that there is a relationship between the demographics of rugby players and their personal financial practices. There is no relationship between personal financial management attitudes and personal financial management practices of South African rugby players and that there is also no relationship between demographic variables and personal financial management attitudes of South African rugby players. This study has provided insight into the personal financial management attitudes and practices of South African rugby players. Valuable information was obtained that could help to address the personal financial management needs of rugby players.
- Full Text:
- Date Issued: 2016
- Authors: Acker, Enrico
- Date: 2016
- Subjects: Rugby football players -- South Africa -- Finance, Personal Finance, Personal -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11363 , vital:26915
- Description: When rugby became professional in 1995, both the game and the social and financial position of the players changed (Basson, 2003). Players started to train full-time and earned annual salaries (Goldman& Johns, 2009). Due to the transition from amateur to professional status, rugby players needed to make adequate personal financial management decisions. The purpose of this study is to investigate the personal financial management attitudes and practices of South African rugby players. Previous research about personal financial management largely focussed on the general public, and did not focus on South African rugby players. Rugby is a professional sport where players earn money from a young age. It is expected of rugby players to make adequate personal financial decisions from as early as 19 years old. The literature review provided an overview of personal financial management and a discussion on the various components that should be included in personal financial management. A framework for this study was developed. The framework used these components as the base for the personal financial attitudes and practices and how it relates to the demographics of the respondents. Three hypotheses were also formulated based on the literature overview and framework. The objectives of this study were achieved by adopting a quantitative research methodology. A convenience sample of 132 rugby players was drawn for this study. Rugby players from NMMU Madibaz, Eastern Province Rugby Union (EP), South Western Districts Rugby Union (SWD) and Sharks Rugby Union participated in this study. The results of the empirical survey showed that respondents have positive attitudes towards the importance of budgeting, retirement planning, risk management, debt management and investment and the importance of employing a financial planner. On the other hand the personal financial management practices of the respondents in this study can be described as weak. From the results of the empirical survey it is clear that the respondents have weak practices towards the majority of the personal financial management practices. Only one of the three hypotheses was accepted namely that there is a relationship between the demographics of rugby players and their personal financial practices. There is no relationship between personal financial management attitudes and personal financial management practices of South African rugby players and that there is also no relationship between demographic variables and personal financial management attitudes of South African rugby players. This study has provided insight into the personal financial management attitudes and practices of South African rugby players. Valuable information was obtained that could help to address the personal financial management needs of rugby players.
- Full Text:
- Date Issued: 2016
The taxability of rewards from suppliers
- Authors: Akoonjie, Ahmed Hassen
- Date: 2016
- Subjects: Taxation -- South Africa Industrial procurement -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11253 , vital:26902
- Description: Successful business in today’s competitive climate thrives on building relationships with one’s suppliers, clientele and employees. Businesses, as a form of strategic engagement, extend their appreciation and recognition to these key role players with rewards (or incentives) such as prizes, holidays and free goods and/or services. This treatise examines the taxation implications of such rewards and determines that the market value thereof should be taxed in the hands of their recipients. This study also investigates possible indicators (or points of reference) to establish such market value and suggests alternate values that may be ascribed thereto for inclusion in the recipient’s gross income. Where the rewards are passed onwards by the recipient to its employees, fringe benefit consequences are occasioned and this study observes that the market value thereof should be taxed in the employees’ hands. The study goes on further to consider the position of the supplier (or provider) of the rewards and finds that the supplier is entitled to a deduction of the cost of the rewards it has provided to its clients or customers. This study also reflects upon the penal implications of not including the market value of rewards in gross income and notes that such non-inclusion constitutes a fiscal loss and is subject to an understatement penalty. Key recommendations on how such omission may be addressed by the tax authorities are also presented.
- Full Text:
- Date Issued: 2016
- Authors: Akoonjie, Ahmed Hassen
- Date: 2016
- Subjects: Taxation -- South Africa Industrial procurement -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11253 , vital:26902
- Description: Successful business in today’s competitive climate thrives on building relationships with one’s suppliers, clientele and employees. Businesses, as a form of strategic engagement, extend their appreciation and recognition to these key role players with rewards (or incentives) such as prizes, holidays and free goods and/or services. This treatise examines the taxation implications of such rewards and determines that the market value thereof should be taxed in the hands of their recipients. This study also investigates possible indicators (or points of reference) to establish such market value and suggests alternate values that may be ascribed thereto for inclusion in the recipient’s gross income. Where the rewards are passed onwards by the recipient to its employees, fringe benefit consequences are occasioned and this study observes that the market value thereof should be taxed in the employees’ hands. The study goes on further to consider the position of the supplier (or provider) of the rewards and finds that the supplier is entitled to a deduction of the cost of the rewards it has provided to its clients or customers. This study also reflects upon the penal implications of not including the market value of rewards in gross income and notes that such non-inclusion constitutes a fiscal loss and is subject to an understatement penalty. Key recommendations on how such omission may be addressed by the tax authorities are also presented.
- Full Text:
- Date Issued: 2016
The tax benefits available to investors in immovable property in South Africa
- Authors: Baines, Daniel
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4026 , vital:20589
- Description: The object of this thesis is to provide guidelines relating to the tax benefits that are available to investors in immovable property in South Africa. This was done by analysing the various sections of the Income Tax Act, as well as case law and South African Revenue Service guidelines that interpret these sections, which provide for expenditure which may be deducted by taxpayers from their income when conducting the trade of letting immovable property in order to reduce their overall tax liability. The thesis also includes a chapter dealing with the four different types of vehicles that taxpayers may use when investing in property. It was found that there are significant tax benefits available to investors in immovable property through the general deductions provided in terms of section 11(a) of the Act, as well as the specific deductions that the legislature has promulgated for investors in immovable property. It was also found that each of the four vehicles has its own advantages and that a taxpayer’s personal circumstances will dictate which of the vehicles will best suit his or her needs.
- Full Text:
- Date Issued: 2016
- Authors: Baines, Daniel
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4026 , vital:20589
- Description: The object of this thesis is to provide guidelines relating to the tax benefits that are available to investors in immovable property in South Africa. This was done by analysing the various sections of the Income Tax Act, as well as case law and South African Revenue Service guidelines that interpret these sections, which provide for expenditure which may be deducted by taxpayers from their income when conducting the trade of letting immovable property in order to reduce their overall tax liability. The thesis also includes a chapter dealing with the four different types of vehicles that taxpayers may use when investing in property. It was found that there are significant tax benefits available to investors in immovable property through the general deductions provided in terms of section 11(a) of the Act, as well as the specific deductions that the legislature has promulgated for investors in immovable property. It was also found that each of the four vehicles has its own advantages and that a taxpayer’s personal circumstances will dictate which of the vehicles will best suit his or her needs.
- Full Text:
- Date Issued: 2016
A critical analysis of the concept and extent of base erosion and profit shifting, and its impact on South Africa versus Australia
- Authors: Basnett, Robyn
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4037 , vital:20592
- Description: Tax avoidance by multinational enterprises is the focus of much media and political scrutiny. It is also the subject of a major Organisation for Economic Co-operation and Development (OECD) project called Base Erosion and Profit Shifting (BEPS). The objective of this thesis was to gain a greater understanding of BEPS, particularly in a South African and Australian context, and to determine whether BEPS is as great a problem as the OECD portrays. A detailed analysis of the OECD BEPS Report and Action Plan was undertaken to understand what the term BEPS means. A review of current BEPS literature was then performed toassess the extent of BEPS. This was followed by a comparative analysis of South Africa and Australia, including a comparison of their tax systems and various economic indicators. It was found that there is no simple definition of BEPS. It encompasses the spectrum of international tax planning strategies used by multinational enterprises. Furthermore, these tax strategies are usually legal, which makes measuring the extent of BEPS conceptually difficult. Despite being legal, many observers believe that BEPS behaviour by multinational enterprises is ethically unacceptable. This thesis also discussed the ethics of tax avoidance, and argued that countries should assess BEPS with reference to the many benefits which multinationals bring to a country. The benefits of multinational enterprise activity are especially important to developing countries like South Africa. Despite similar tax systems, South Africa and Australia vary greatly in terms of their economic and social position. This thesis concluded that South Africa, as a developing country, is more likely than Australia to tolerate BEPS behaviour in order to maintain or even attract foreign investment. The OECD Action Plan calls for urgent internationally coordinated actions against BEPS. It appears, however, that much more research is needed on the nature and extent of BEPS before countries formulate their response. This thesis acknowledges that aggressive tax planning by multinational enterprises does exist, but suggests that countries approach BEPS, and any estimates of its extent, with a degree of caution.
- Full Text:
- Date Issued: 2016
- Authors: Basnett, Robyn
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4037 , vital:20592
- Description: Tax avoidance by multinational enterprises is the focus of much media and political scrutiny. It is also the subject of a major Organisation for Economic Co-operation and Development (OECD) project called Base Erosion and Profit Shifting (BEPS). The objective of this thesis was to gain a greater understanding of BEPS, particularly in a South African and Australian context, and to determine whether BEPS is as great a problem as the OECD portrays. A detailed analysis of the OECD BEPS Report and Action Plan was undertaken to understand what the term BEPS means. A review of current BEPS literature was then performed toassess the extent of BEPS. This was followed by a comparative analysis of South Africa and Australia, including a comparison of their tax systems and various economic indicators. It was found that there is no simple definition of BEPS. It encompasses the spectrum of international tax planning strategies used by multinational enterprises. Furthermore, these tax strategies are usually legal, which makes measuring the extent of BEPS conceptually difficult. Despite being legal, many observers believe that BEPS behaviour by multinational enterprises is ethically unacceptable. This thesis also discussed the ethics of tax avoidance, and argued that countries should assess BEPS with reference to the many benefits which multinationals bring to a country. The benefits of multinational enterprise activity are especially important to developing countries like South Africa. Despite similar tax systems, South Africa and Australia vary greatly in terms of their economic and social position. This thesis concluded that South Africa, as a developing country, is more likely than Australia to tolerate BEPS behaviour in order to maintain or even attract foreign investment. The OECD Action Plan calls for urgent internationally coordinated actions against BEPS. It appears, however, that much more research is needed on the nature and extent of BEPS before countries formulate their response. This thesis acknowledges that aggressive tax planning by multinational enterprises does exist, but suggests that countries approach BEPS, and any estimates of its extent, with a degree of caution.
- Full Text:
- Date Issued: 2016
The role of emotional awareness in the retirement transition
- Authors: Black, Beverley Mary
- Date: 2016
- Subjects: Retirement -- Psychological aspects , Aging -- Psychological aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5645 , vital:20947
- Description: This study examines the role of emotional awareness in the retirement transition. Retirement is viewed as one of the transitions in later life and has psychological consequences. It is an objective development and social-psychological transformation that is related to physical and psychological well-being. Research has shown that emotional awareness can have an impact on the retirement transition. A correlational research survey design was used for this study to determine and establish the role of emotional awareness, preparation and emotional responses in the retirement transition. Using a five-point Likert Scale, respondents were asked to score their responses to twenty-eight items. The questionnaire was distributed to retirees on the data bases of two financial companies that manage retirement funds. The SurveyMonkey application was used to distribute the survey to one financial company’s data base, and email was used for the other. Statistics such as means, relationships between factors, Cronbach’s Alpha, Pearson’s Product Moment Correlation and descriptive statistics were used to analyse the data. The findings of this study demonstrate inconclusive evidence of emotional awareness in retirement. In addition to this, there were no significant findings regarding preparation for retirement or emotional response to retirement which indicates a neutral attitude to preparation and retirement, on average. There is a need for further future studies that include a more balanced sample representation of men and women, a comparative study based on different cultures to determine if differences exist in the experience of emotions in the retirement transition, and a field study in retirement homes and villages to corroborate the findings of this study.
- Full Text:
- Date Issued: 2016
- Authors: Black, Beverley Mary
- Date: 2016
- Subjects: Retirement -- Psychological aspects , Aging -- Psychological aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5645 , vital:20947
- Description: This study examines the role of emotional awareness in the retirement transition. Retirement is viewed as one of the transitions in later life and has psychological consequences. It is an objective development and social-psychological transformation that is related to physical and psychological well-being. Research has shown that emotional awareness can have an impact on the retirement transition. A correlational research survey design was used for this study to determine and establish the role of emotional awareness, preparation and emotional responses in the retirement transition. Using a five-point Likert Scale, respondents were asked to score their responses to twenty-eight items. The questionnaire was distributed to retirees on the data bases of two financial companies that manage retirement funds. The SurveyMonkey application was used to distribute the survey to one financial company’s data base, and email was used for the other. Statistics such as means, relationships between factors, Cronbach’s Alpha, Pearson’s Product Moment Correlation and descriptive statistics were used to analyse the data. The findings of this study demonstrate inconclusive evidence of emotional awareness in retirement. In addition to this, there were no significant findings regarding preparation for retirement or emotional response to retirement which indicates a neutral attitude to preparation and retirement, on average. There is a need for further future studies that include a more balanced sample representation of men and women, a comparative study based on different cultures to determine if differences exist in the experience of emotions in the retirement transition, and a field study in retirement homes and villages to corroborate the findings of this study.
- Full Text:
- Date Issued: 2016
A critical assessment of team building as a tourism offering in the Eastern Cape
- Authors: Blumel, Astrid
- Date: 2016
- Subjects: Social responsibility of business -- South Africa -- Eastern Cape , Tourism -- Marketing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6225 , vital:21057
- Description: This study researched team building as a tourism offering. Team building has particular potential to benefit tourism in the Western Region of the Eastern Cape. Team building has grown in popularity and is offered by several tourism operators in the Western Region of the Eastern Cape. Team building can be practiced throughout the year by the use of numerous indoor and outdoor activities thereby attracting participants and tourists. The activity involves a wide range of tourism-related services and facilities which shows its potential value as tourism resource. The research methodology for this study aimed to identify the link between team building and tourism. Additionally, the study draws attention to team buildings possible socio-economic value which is added to a tourism business’s offering range and its effect on the host destination. A survey was conducted among a randomly selected target population representing role-players involved in team building and tourism activities, for which a questionnaire was developed by adapting the SERVPERF model. This enabled the researcher to identify the team building participants’ level of satisfaction with the team building operator, activity and host destination. Emerging from the gained insight into the dynamics between team building offerings and tourism businesses, recommendations have been formulated as to the relevance of team building for a tourism businesses’ offering range and the impact on the host destination. The research study identified numerous beneficial spin-off effects for the Western Region of the Eastern Cape driven from team building activities. These benefits were an increase in awareness of the destination, improved image of the Western Region of the Eastern Cape, and tourist engagement in other tourism offerings during their stay at the destination, among others.
- Full Text:
- Date Issued: 2016
- Authors: Blumel, Astrid
- Date: 2016
- Subjects: Social responsibility of business -- South Africa -- Eastern Cape , Tourism -- Marketing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6225 , vital:21057
- Description: This study researched team building as a tourism offering. Team building has particular potential to benefit tourism in the Western Region of the Eastern Cape. Team building has grown in popularity and is offered by several tourism operators in the Western Region of the Eastern Cape. Team building can be practiced throughout the year by the use of numerous indoor and outdoor activities thereby attracting participants and tourists. The activity involves a wide range of tourism-related services and facilities which shows its potential value as tourism resource. The research methodology for this study aimed to identify the link between team building and tourism. Additionally, the study draws attention to team buildings possible socio-economic value which is added to a tourism business’s offering range and its effect on the host destination. A survey was conducted among a randomly selected target population representing role-players involved in team building and tourism activities, for which a questionnaire was developed by adapting the SERVPERF model. This enabled the researcher to identify the team building participants’ level of satisfaction with the team building operator, activity and host destination. Emerging from the gained insight into the dynamics between team building offerings and tourism businesses, recommendations have been formulated as to the relevance of team building for a tourism businesses’ offering range and the impact on the host destination. The research study identified numerous beneficial spin-off effects for the Western Region of the Eastern Cape driven from team building activities. These benefits were an increase in awareness of the destination, improved image of the Western Region of the Eastern Cape, and tourist engagement in other tourism offerings during their stay at the destination, among others.
- Full Text:
- Date Issued: 2016
Measures of success of small and medium-sized family and non-family-owned businesses in the Eastern Cape
- Authors: Carelsen, Mispah
- Date: 2016
- Subjects: Success in business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape , Family-owned business enterprises -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3479 , vital:20434
- Description: Small and medium-sized enterprises (SMEs) are recognised internationally and in South Africa as a critical component of the economic development of a country as a result of their contribution to job creation, alleviation of poverty, sustainability and innovation. Furthermore, the majority of SMEs are also family-owned and play an increasingly important role in the South African economy, making up approximately 84 per cent of businesses in the country. Despite the critical role that family and non-family SMEs play in economic development, they are still plagued with high failure rates and unique challenges that make it difficult for them to survive. These challenges include, amongst others, regulatory burdens, restrictive labour policies, a lack of access to finance, markets and technology, as well as an overwhelmingly constant emphasis on survival. As a result of the added dynamic of family relationships within family-owned SMEs, they face additional challenges such as conflict between family members and inadequate succession planning. Focus is often placed on the factors leading to failure, but little is known about success-aiding behaviours that could reduce the high failure rate and improve the success rate of these businesses. As a result, it is important to examine what determines success and how it is measured. Success can be defined as the attainment of goals, therefore the achievement of goals plays a critical role in the success of the business.
- Full Text:
- Date Issued: 2016
- Authors: Carelsen, Mispah
- Date: 2016
- Subjects: Success in business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape , Family-owned business enterprises -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3479 , vital:20434
- Description: Small and medium-sized enterprises (SMEs) are recognised internationally and in South Africa as a critical component of the economic development of a country as a result of their contribution to job creation, alleviation of poverty, sustainability and innovation. Furthermore, the majority of SMEs are also family-owned and play an increasingly important role in the South African economy, making up approximately 84 per cent of businesses in the country. Despite the critical role that family and non-family SMEs play in economic development, they are still plagued with high failure rates and unique challenges that make it difficult for them to survive. These challenges include, amongst others, regulatory burdens, restrictive labour policies, a lack of access to finance, markets and technology, as well as an overwhelmingly constant emphasis on survival. As a result of the added dynamic of family relationships within family-owned SMEs, they face additional challenges such as conflict between family members and inadequate succession planning. Focus is often placed on the factors leading to failure, but little is known about success-aiding behaviours that could reduce the high failure rate and improve the success rate of these businesses. As a result, it is important to examine what determines success and how it is measured. Success can be defined as the attainment of goals, therefore the achievement of goals plays a critical role in the success of the business.
- Full Text:
- Date Issued: 2016
The impact of monetary policy announcement on financial markets in South Africa
- Authors: Chipfunde, Memory
- Date: 2016
- Subjects: Johannesburg Stock Exchange Monetary policy Money market
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/12193 , vital:39195
- Description: Monetary policy announcements are among the major decisions that affect the economy as a whole. The purpose of this study was to analyze the impact of monetary policy announcements on equity markets in South Africa during 2014-2015 financial years. That financial period is a unique year for analyzing the impact of monetary announcements on stock returns because the Reserve Bank Governor was changed in the last quarter of 2014. Moreover, interest rates were changed in four monetary policy announcements over the course of two years. This provides a good opportunity to investigate how monetary policy announcements can affect financial markets. The study used an event study methodology whereby a 15-day event window is used as well as a 45-day estimation window. Around the event window, abnormal returns were calculated using the market model and capital asset pricing model (CAPM) was used to calculate expected returns. The results are mixed; (both significant and insignificant) impact of monetary policy announcements on JSE stock returns. Of the 12 interest rates announcements, only four seemed to be significant. It was observed that of the four significant results, three of them were because of a hike in interest rates. The results show an asymmetric response by the market to interest rate changes. The results also suggest that the market anticipated the relative volatility arising from the change of the minister of the reserve bank governor. Following the appointment of the new Central Bank‟s governor in the last quarter of 2014, the first interest rate announcement seemed to have been anticipated by the public thereby rendering it insignificant. Inorder to improve the strength of the results in future, it is important that that there should be the absence of signalling effect in the market. It is recommended that the markets are efficient and the announcements should not be highly anticipated by the public.
- Full Text:
- Date Issued: 2016
- Authors: Chipfunde, Memory
- Date: 2016
- Subjects: Johannesburg Stock Exchange Monetary policy Money market
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/12193 , vital:39195
- Description: Monetary policy announcements are among the major decisions that affect the economy as a whole. The purpose of this study was to analyze the impact of monetary policy announcements on equity markets in South Africa during 2014-2015 financial years. That financial period is a unique year for analyzing the impact of monetary announcements on stock returns because the Reserve Bank Governor was changed in the last quarter of 2014. Moreover, interest rates were changed in four monetary policy announcements over the course of two years. This provides a good opportunity to investigate how monetary policy announcements can affect financial markets. The study used an event study methodology whereby a 15-day event window is used as well as a 45-day estimation window. Around the event window, abnormal returns were calculated using the market model and capital asset pricing model (CAPM) was used to calculate expected returns. The results are mixed; (both significant and insignificant) impact of monetary policy announcements on JSE stock returns. Of the 12 interest rates announcements, only four seemed to be significant. It was observed that of the four significant results, three of them were because of a hike in interest rates. The results show an asymmetric response by the market to interest rate changes. The results also suggest that the market anticipated the relative volatility arising from the change of the minister of the reserve bank governor. Following the appointment of the new Central Bank‟s governor in the last quarter of 2014, the first interest rate announcement seemed to have been anticipated by the public thereby rendering it insignificant. Inorder to improve the strength of the results in future, it is important that that there should be the absence of signalling effect in the market. It is recommended that the markets are efficient and the announcements should not be highly anticipated by the public.
- Full Text:
- Date Issued: 2016
The effect of interest rates on investment spending: an empirical analysis of South Africa
- Authors: Dakin, Nicholas John
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1131 , http://hdl.handle.net/10962/d1021174
- Description: This thesis investigates the nature and strength of the relationship between short-, medium-, and long-term real interest rates and capital investment spending at both the aggregate and disaggregate levels in South Africa in order to determine whether changes in the real interest rate affect the level of capital investment in the economy. This thesis used quarterly data for the period 1987 to 2013. VAR modelling, variance decompositions, impulse response functions and Granger causality tests are used to explore the nature and strength of the relationship between interest rates and investment spending. It is found that interest rates explain very little of the variation in investment spending and seem to have little impact on investment (of any type). Furthermore, short-, medium- and long-term interest rates have different effects on the level of investment spending. A rise in short-term interest rates appears to decrease the level of investment spending in the long-run, whereas a rise in long-term interest rates results in an increase in investment.
- Full Text:
- Date Issued: 2016
- Authors: Dakin, Nicholas John
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1131 , http://hdl.handle.net/10962/d1021174
- Description: This thesis investigates the nature and strength of the relationship between short-, medium-, and long-term real interest rates and capital investment spending at both the aggregate and disaggregate levels in South Africa in order to determine whether changes in the real interest rate affect the level of capital investment in the economy. This thesis used quarterly data for the period 1987 to 2013. VAR modelling, variance decompositions, impulse response functions and Granger causality tests are used to explore the nature and strength of the relationship between interest rates and investment spending. It is found that interest rates explain very little of the variation in investment spending and seem to have little impact on investment (of any type). Furthermore, short-, medium- and long-term interest rates have different effects on the level of investment spending. A rise in short-term interest rates appears to decrease the level of investment spending in the long-run, whereas a rise in long-term interest rates results in an increase in investment.
- Full Text:
- Date Issued: 2016
The effect of bond market on economic growth in South Africa
- Authors: Dingela, Siyasanga
- Date: 2016
- Subjects: Bond market -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/7218 , vital:21306
- Description: This paper investigates the effect of bond market on economic growth in South Africa. Quarterly data for South Africa for the period 2003-2014 was used to develop a general- to- specific Auto-Regressive Distribution Lag (ARDL) approach. The empirical results confirm that there is a positive relationship between Bond market and economic growth in South Africa. A co-integrated relationship between economic growth, stock market and banking sector was noticed in both the long-run and short-runs.
- Full Text:
- Date Issued: 2016
- Authors: Dingela, Siyasanga
- Date: 2016
- Subjects: Bond market -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/7218 , vital:21306
- Description: This paper investigates the effect of bond market on economic growth in South Africa. Quarterly data for South Africa for the period 2003-2014 was used to develop a general- to- specific Auto-Regressive Distribution Lag (ARDL) approach. The empirical results confirm that there is a positive relationship between Bond market and economic growth in South Africa. A co-integrated relationship between economic growth, stock market and banking sector was noticed in both the long-run and short-runs.
- Full Text:
- Date Issued: 2016
The influence of physical service recovery and online service recovery on trust and relationship retention
- Authors: Dube, Langelihle
- Date: 2016
- Subjects: Consumer complaints Customer loyalty Customer services
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/12766 , vital:39359
- Description: Service mishaps remain a profound topic in business due to their inevitability and detrimental impacts they bring about. As a result of this incessant detrimental effect, service recovery has been initiated into business exchanges to curb such. Moreover, service recovery programmes have been embarked on both in the offline and online delivery systems to retain this diverse need market consisting of the technological averse and experts in trading. This study therefore has to pinpoint the difficulties experienced in offline and online service recovery procedures and demarcate which of the two is the preferred channel. Service failures cut across all sectors and industries, and banking has not been spared in turn. Clients tend to choose a service recovery method based on various factors such as the panel of occurrence, technological skills and awareness, personal behaviours and available options provided by the service provider. Clients tend to choose a service recovery method based on various factors such as the panel of occurrence, technological skills and awareness, personal behaviours and available options provided by the service provider (Buttle, (2009); Clark & Melancon, (2013). The panel of occurrence depicts the method of service delivery that resulted in failed services, thus, an online service delivery is likely to attract an online resolution. Customers who transact online are highly likely to choose the same recovery method due to the associated innate benefits. Technological skills and awareness deal with the client’s articulateness in navigating the business’ website in effort to resolve the encountered problem. Personal behaviours explain that introvert clients would prefer to interact with the system and assistants online to resolve the issue while extroverts will choose the offline methods so as to experience facial interactions. Organisations sometimes detect the panel of solution based on the severity of the problem. Thus, for example, serious problems to be handled using physical means. Assessments of the degree of impact on retaining relations and gaining trust that presently employed recovery strategies pose were unearthed in this study. For physical service recovery, contact, empathy and politeness were assessed on the significance they have in recouping failed services. Responsiveness and the state of the bank’s websites will also depict the degree to which failed clients can be restored in online service delivery. Physical service recovery received greater apprehension by clients during a service error with empathy and politeness emerging as the most customer required successful strategy to enhance relations and trust thereafter. Despite its less preference, online service recovery strategies such as responsiveness and website interface resulted in significant correlations affirming their importance during service delivery and recovery. The measurement model fit quite well with sound goodness of fit indices results as per the comparison with the recommended thresholds. Moreover, the Structural Equation Model fit well with data collected.
- Full Text:
- Date Issued: 2016
- Authors: Dube, Langelihle
- Date: 2016
- Subjects: Consumer complaints Customer loyalty Customer services
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/12766 , vital:39359
- Description: Service mishaps remain a profound topic in business due to their inevitability and detrimental impacts they bring about. As a result of this incessant detrimental effect, service recovery has been initiated into business exchanges to curb such. Moreover, service recovery programmes have been embarked on both in the offline and online delivery systems to retain this diverse need market consisting of the technological averse and experts in trading. This study therefore has to pinpoint the difficulties experienced in offline and online service recovery procedures and demarcate which of the two is the preferred channel. Service failures cut across all sectors and industries, and banking has not been spared in turn. Clients tend to choose a service recovery method based on various factors such as the panel of occurrence, technological skills and awareness, personal behaviours and available options provided by the service provider. Clients tend to choose a service recovery method based on various factors such as the panel of occurrence, technological skills and awareness, personal behaviours and available options provided by the service provider (Buttle, (2009); Clark & Melancon, (2013). The panel of occurrence depicts the method of service delivery that resulted in failed services, thus, an online service delivery is likely to attract an online resolution. Customers who transact online are highly likely to choose the same recovery method due to the associated innate benefits. Technological skills and awareness deal with the client’s articulateness in navigating the business’ website in effort to resolve the encountered problem. Personal behaviours explain that introvert clients would prefer to interact with the system and assistants online to resolve the issue while extroverts will choose the offline methods so as to experience facial interactions. Organisations sometimes detect the panel of solution based on the severity of the problem. Thus, for example, serious problems to be handled using physical means. Assessments of the degree of impact on retaining relations and gaining trust that presently employed recovery strategies pose were unearthed in this study. For physical service recovery, contact, empathy and politeness were assessed on the significance they have in recouping failed services. Responsiveness and the state of the bank’s websites will also depict the degree to which failed clients can be restored in online service delivery. Physical service recovery received greater apprehension by clients during a service error with empathy and politeness emerging as the most customer required successful strategy to enhance relations and trust thereafter. Despite its less preference, online service recovery strategies such as responsiveness and website interface resulted in significant correlations affirming their importance during service delivery and recovery. The measurement model fit quite well with sound goodness of fit indices results as per the comparison with the recommended thresholds. Moreover, the Structural Equation Model fit well with data collected.
- Full Text:
- Date Issued: 2016
The evaluation of a talent management programme within a global multinational organisation: a case study
- Authors: Ferguson, Alana Paulette
- Date: 2016
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/64747 , vital:28597
- Description: Expected release date-May 2018
- Full Text:
- Date Issued: 2016
- Authors: Ferguson, Alana Paulette
- Date: 2016
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/64747 , vital:28597
- Description: Expected release date-May 2018
- Full Text:
- Date Issued: 2016
A web-based repository for student mobility data in Africa
- Authors: Ferreira, Darren Bradley
- Date: 2016
- Subjects: Student mobility Students, Transfer of -- South Africa -- Psychological aspects , Education, Higher Foreign study
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/12605 , vital:27098
- Description: The number of international students studying abroad has doubled since the year 2000 and there are nearly five million students that are enrolled outside their country of origin. Over the past ten years new insights and approaches to the internationalisation of higher education have arisen which has influenced global research and education. Student mobility data is a component of internationalisation data. internationally mobile students are defined as students who have crossed international borders from their countries with the objective to study. Currently, there are several international organisations and projects that manage student mobility data from various Higher Education Institutions (HEIs) across the globe and report on this data. Two of these organisations are the Open Doors Report and Project Atlas. The organisations collect Data for Africa, although it is not as detailed and useful as the data provided about other countries. Since the number of students studying abroad has doubled since the year 2000, the amount of student mobility data kept by data collection agencies and HEIs has also increased. The data collected is not always accurate and this poses a data management problem. This study conducted a survey sent to international offices at various HEIs in South Africa and Africa. The survey investigates the current state of student mobility data management in HEIs. The survey results revealed that the international offices are currently dissatisfied with student mobility data management and will be willing to provide international student data to an African data repository. This study proposes the design and development of a web-based student mobility data repository, known as the African International Portal (AIP). The study identified design guidelines and requirements for a web-based data repository. The requirements, design and design guidelines were used to guide the development of the prototype. Heuristic evaluations were conducted on the prototype in order to identify any major usability problems. Findings revealed that the overall perceptions of the prototype were positive and can be attributed to the design considerations and guidelines used during the development phase. The prototype was evaluated using a full usability evaluation that determined the usefulness, effectiveness and efficiency of the prototype when users are in the process of managing student mobility data. The results indicate that the participants found the AIP to be an effective, efficient and a satisfactory means of managing student mobility data.
- Full Text:
- Date Issued: 2016
- Authors: Ferreira, Darren Bradley
- Date: 2016
- Subjects: Student mobility Students, Transfer of -- South Africa -- Psychological aspects , Education, Higher Foreign study
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/12605 , vital:27098
- Description: The number of international students studying abroad has doubled since the year 2000 and there are nearly five million students that are enrolled outside their country of origin. Over the past ten years new insights and approaches to the internationalisation of higher education have arisen which has influenced global research and education. Student mobility data is a component of internationalisation data. internationally mobile students are defined as students who have crossed international borders from their countries with the objective to study. Currently, there are several international organisations and projects that manage student mobility data from various Higher Education Institutions (HEIs) across the globe and report on this data. Two of these organisations are the Open Doors Report and Project Atlas. The organisations collect Data for Africa, although it is not as detailed and useful as the data provided about other countries. Since the number of students studying abroad has doubled since the year 2000, the amount of student mobility data kept by data collection agencies and HEIs has also increased. The data collected is not always accurate and this poses a data management problem. This study conducted a survey sent to international offices at various HEIs in South Africa and Africa. The survey investigates the current state of student mobility data management in HEIs. The survey results revealed that the international offices are currently dissatisfied with student mobility data management and will be willing to provide international student data to an African data repository. This study proposes the design and development of a web-based student mobility data repository, known as the African International Portal (AIP). The study identified design guidelines and requirements for a web-based data repository. The requirements, design and design guidelines were used to guide the development of the prototype. Heuristic evaluations were conducted on the prototype in order to identify any major usability problems. Findings revealed that the overall perceptions of the prototype were positive and can be attributed to the design considerations and guidelines used during the development phase. The prototype was evaluated using a full usability evaluation that determined the usefulness, effectiveness and efficiency of the prototype when users are in the process of managing student mobility data. The results indicate that the participants found the AIP to be an effective, efficient and a satisfactory means of managing student mobility data.
- Full Text:
- Date Issued: 2016
Inequality in South Africa: a possible solution within the labour market
- Authors: Ferreira, John-Edward
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4047 , vital:20594
- Description: This study sets out to identify the most effective way in which persistently and unacceptably high levels of inequality can be reduced in South Africa. Three alternative approaches were identified from the literature and their impact explored statistically. They are: the introduction of a ‘Social Solidarity Grant’; a decrease in unemployment by 5%; and a narrowing of the skill premium through an expansion of tertiary education. It is important to note that the study makes no attempt at explaining how these outcomes might be implemented or achieved. Rather, it sets out to determine only the effect that such policies may have on measured inequality. It was found that while the introduction of a new grant had a significant effect on inequality, this effect however, was once-off. The grant would be financed by individuals in the top decile through tax increases, which would be a complicated endeavour. Both job creation and a narrowing of the skills premium were significantly effective in decreasing inequality. The narrowing of the skills premium showed more promise due to its accelerating effectiveness in decreasing inequality over time and the fact that it directly addresses the problem of wage differentials. It was noted that the extreme levels of poverty and unemployment in South Africa may dampen enthusiasm for policies that narrow the skills premium to reduce inequality. These characteristics make job creation a more popular policy option because of the positive impact on poverty and unemployment as well as on inequality.
- Full Text:
- Date Issued: 2016
- Authors: Ferreira, John-Edward
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4047 , vital:20594
- Description: This study sets out to identify the most effective way in which persistently and unacceptably high levels of inequality can be reduced in South Africa. Three alternative approaches were identified from the literature and their impact explored statistically. They are: the introduction of a ‘Social Solidarity Grant’; a decrease in unemployment by 5%; and a narrowing of the skill premium through an expansion of tertiary education. It is important to note that the study makes no attempt at explaining how these outcomes might be implemented or achieved. Rather, it sets out to determine only the effect that such policies may have on measured inequality. It was found that while the introduction of a new grant had a significant effect on inequality, this effect however, was once-off. The grant would be financed by individuals in the top decile through tax increases, which would be a complicated endeavour. Both job creation and a narrowing of the skills premium were significantly effective in decreasing inequality. The narrowing of the skills premium showed more promise due to its accelerating effectiveness in decreasing inequality over time and the fact that it directly addresses the problem of wage differentials. It was noted that the extreme levels of poverty and unemployment in South Africa may dampen enthusiasm for policies that narrow the skills premium to reduce inequality. These characteristics make job creation a more popular policy option because of the positive impact on poverty and unemployment as well as on inequality.
- Full Text:
- Date Issued: 2016
An analysis of revisions to the South African quarterly gross domestic product
- Authors: Fotoyi, Asanda
- Date: 2016
- Subjects: Gross domestic product -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3635 , vital:20448
- Description: Gross domestic product (GDP) is one of the most important economic performance indicators for any country that is closely watched by governments, businesses and financial communities. GDP often influences economic decisions and policy-making. These decisions are however often based on preliminary initial announcements by statistical agencies. The preliminary estimates are then revised as more comprehensive information becomes available. Therefore, it is important to ensure that the initial GDP announcements are unbiased, efficient and can be relied on. This study focuses on seasonally adjusted and annualised (qq) growth rates at constant prices for the following national accounts aggregates: GDP, gross domestic expenditure (GDE), final consumption expenditure by households and general government, gross fixed capital formation (GFCF), Exports and imports of goods and services, gross national income (GNI) and disposable income of households. The research methodology used is based on descriptive statistics and Ordinary Least Squares (OLS) regression estimations. The results of the study indicate that little confidence should be attributed to interpretations of the initially announced estimates for GDP, GDE, final consumption expenditure by households, GNI and disposable income by households. The study found evidence that suggests that the initial announcements are biased and inefficient. This implies that the initial announcements contain measurement errors that could be eliminated in order to become a better forecast of the final or true value. This further suggests a lack of expected reliability of existing and future initial announcements of the estimates. For short-term analysis the users of GDP data are encouraged to focus on different measures. It is also recommended that the statistical agents producing South Africa’s national accounts aggregates improve their statistical compilation processes. The agencies are also encouraged to conduct periodic revisions studies and make these available to the users.
- Full Text:
- Date Issued: 2016
- Authors: Fotoyi, Asanda
- Date: 2016
- Subjects: Gross domestic product -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3635 , vital:20448
- Description: Gross domestic product (GDP) is one of the most important economic performance indicators for any country that is closely watched by governments, businesses and financial communities. GDP often influences economic decisions and policy-making. These decisions are however often based on preliminary initial announcements by statistical agencies. The preliminary estimates are then revised as more comprehensive information becomes available. Therefore, it is important to ensure that the initial GDP announcements are unbiased, efficient and can be relied on. This study focuses on seasonally adjusted and annualised (qq) growth rates at constant prices for the following national accounts aggregates: GDP, gross domestic expenditure (GDE), final consumption expenditure by households and general government, gross fixed capital formation (GFCF), Exports and imports of goods and services, gross national income (GNI) and disposable income of households. The research methodology used is based on descriptive statistics and Ordinary Least Squares (OLS) regression estimations. The results of the study indicate that little confidence should be attributed to interpretations of the initially announced estimates for GDP, GDE, final consumption expenditure by households, GNI and disposable income by households. The study found evidence that suggests that the initial announcements are biased and inefficient. This implies that the initial announcements contain measurement errors that could be eliminated in order to become a better forecast of the final or true value. This further suggests a lack of expected reliability of existing and future initial announcements of the estimates. For short-term analysis the users of GDP data are encouraged to focus on different measures. It is also recommended that the statistical agents producing South Africa’s national accounts aggregates improve their statistical compilation processes. The agencies are also encouraged to conduct periodic revisions studies and make these available to the users.
- Full Text:
- Date Issued: 2016
Fairness and efficacy of the penalty provisions in the Tax Administration Act 28 of 2011
- Authors: Fourie, Catherine
- Date: 2016
- Subjects: Tax administration and procedure Income tax -- Law and legislation , Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/12426 , vital:27065
- Description: The purpose of this treatise was to examine the fairness and efficacy of the penalty provisions in the Tax Administration Act (the Act). An integrative literature review research method was used. The study commenced with a review of the local and international literature on tax compliance and the fairness and efficacy of penalties. This was followed by a study of the stated objectives of the Fiscus in respect of the strategy and approach to maintaining and improving taxpayer compliance and an analysis of the penalty regime of the Act. A comparative analysis was then performed of the relevant taxing legislation of five countries, which were chosen using a purposeful sample selected from the major trading partners of the Republic and countries with a similar tax framework. Following this, a review was performed of a cross section of the most recent tax related court cases in South Africa in order to assess the extent, consistency and fairness of the application of the penalty provisions. The study then concluded with an integrated assessment of the fairness and efficacy of the penalty provisions in light of the research conducted, and highlighted areas where the legislation appears to meet this objective, followed by recommendations for amendments in respect of policy and implementation. Finally recommendations were made for areas of further research which might improve the validity of the conclusions with respect to the stated objectives of the present research and to inform policy formulation.
- Full Text:
- Date Issued: 2016
- Authors: Fourie, Catherine
- Date: 2016
- Subjects: Tax administration and procedure Income tax -- Law and legislation , Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/12426 , vital:27065
- Description: The purpose of this treatise was to examine the fairness and efficacy of the penalty provisions in the Tax Administration Act (the Act). An integrative literature review research method was used. The study commenced with a review of the local and international literature on tax compliance and the fairness and efficacy of penalties. This was followed by a study of the stated objectives of the Fiscus in respect of the strategy and approach to maintaining and improving taxpayer compliance and an analysis of the penalty regime of the Act. A comparative analysis was then performed of the relevant taxing legislation of five countries, which were chosen using a purposeful sample selected from the major trading partners of the Republic and countries with a similar tax framework. Following this, a review was performed of a cross section of the most recent tax related court cases in South Africa in order to assess the extent, consistency and fairness of the application of the penalty provisions. The study then concluded with an integrated assessment of the fairness and efficacy of the penalty provisions in light of the research conducted, and highlighted areas where the legislation appears to meet this objective, followed by recommendations for amendments in respect of policy and implementation. Finally recommendations were made for areas of further research which might improve the validity of the conclusions with respect to the stated objectives of the present research and to inform policy formulation.
- Full Text:
- Date Issued: 2016
Industrial policy, institutions and industrial financing in South Africa: the role of the IDC and DBSA, and lessons from Brazil’s BNDES
- Authors: Fumbata, Nandipha
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1132 , http://hdl.handle.net/10962/d1021278
- Description: Institutions, particularly development finance institutions (DFIs) have been instrumental in economic development and the implementation of industrial policy throughout history. In 2007, the South African government identified the country’s DFIs as key to the implementation of its new industrial policy framework with the main objective of job creation. This thesis examines the impact that South Africa’s DFIs, particularly the IDC and the DBSA, have had on employment creation from 2010 to 2014. A comparative institutional approach is adopted in a case study analysis examining the role of the state in industrial financing. The financing activities of Brazil’s BNDES are explored by comparison to determine if there are possible lessons for South Africa. An analysis of the DFIs’ financial and annual reports and government policy documents is conducted. The political settlements framework is used as a basis for understanding the balance of power within the country and the impact this has had on the country’s industrial policy and industrial finance. The thesis finds that the financing activities of South Africa’s DFIs, particularly the IDC, have been directed at large scale capital intensive projects, with a large portion of disbursements channelled towards mining and mineral beneficiation. These sectors have also facilitated the most number of jobs. Even though the activities of the country’s DFIs are consistent with South Africa’s industrial policy and have facilitated job creation, it is evident that these efforts have not been on a scale that is large enough to reduce unemployment. Despite the DFIs’ efforts, there has been an increase in the number of unemployed South Africans between 2010 and 2014.
- Full Text:
- Date Issued: 2016
- Authors: Fumbata, Nandipha
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1132 , http://hdl.handle.net/10962/d1021278
- Description: Institutions, particularly development finance institutions (DFIs) have been instrumental in economic development and the implementation of industrial policy throughout history. In 2007, the South African government identified the country’s DFIs as key to the implementation of its new industrial policy framework with the main objective of job creation. This thesis examines the impact that South Africa’s DFIs, particularly the IDC and the DBSA, have had on employment creation from 2010 to 2014. A comparative institutional approach is adopted in a case study analysis examining the role of the state in industrial financing. The financing activities of Brazil’s BNDES are explored by comparison to determine if there are possible lessons for South Africa. An analysis of the DFIs’ financial and annual reports and government policy documents is conducted. The political settlements framework is used as a basis for understanding the balance of power within the country and the impact this has had on the country’s industrial policy and industrial finance. The thesis finds that the financing activities of South Africa’s DFIs, particularly the IDC, have been directed at large scale capital intensive projects, with a large portion of disbursements channelled towards mining and mineral beneficiation. These sectors have also facilitated the most number of jobs. Even though the activities of the country’s DFIs are consistent with South Africa’s industrial policy and have facilitated job creation, it is evident that these efforts have not been on a scale that is large enough to reduce unemployment. Despite the DFIs’ efforts, there has been an increase in the number of unemployed South Africans between 2010 and 2014.
- Full Text:
- Date Issued: 2016
Weak form market efficiency of the Johannesburg Stock Exchange : pre during and post the 2008 global financial crisis
- Authors: Futshane, Olwetu
- Date: 2016
- Subjects: Global Financial Crisis, 2008-2009 Efficient market theory Random walks (Mathematics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/11895 , vital:39116
- Description: The importance of the efficiency of the stock market cannot be underestimated, given that it brings together those who demand and supply development finance. It is against this background that this study focused on analysing the weak form efficiency of the Johannesburg Stock Exchange for the period 2005 to 2016. The study reviewed the theoretical and empirical literatures which have tried to examine the market efficiency of the Johannesburg stock exchange and whether the JSE follows that random walk. Based on the review of literature, several methodologies such as (unit root tests, autocorrelation test) were employed in the study obtaining robust results that the JSE price indices (All Share, Resources and Financials) follow the random walk process. To further confirm the findings in this research, the variance ratio test is conducted under heteroscedasticity and homoscedasticity it also strongly verified that the existence of a random walk process cannot be rejected in the JSE. The empirical results from all the various tests reveal that the null hypothesis of random walk cannot be rejected. These results thus suggest that the JSE is efficient in its weak form. This commends all the measures which have been carried out to ensure that the market is efficient.
- Full Text:
- Date Issued: 2016
- Authors: Futshane, Olwetu
- Date: 2016
- Subjects: Global Financial Crisis, 2008-2009 Efficient market theory Random walks (Mathematics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/11895 , vital:39116
- Description: The importance of the efficiency of the stock market cannot be underestimated, given that it brings together those who demand and supply development finance. It is against this background that this study focused on analysing the weak form efficiency of the Johannesburg Stock Exchange for the period 2005 to 2016. The study reviewed the theoretical and empirical literatures which have tried to examine the market efficiency of the Johannesburg stock exchange and whether the JSE follows that random walk. Based on the review of literature, several methodologies such as (unit root tests, autocorrelation test) were employed in the study obtaining robust results that the JSE price indices (All Share, Resources and Financials) follow the random walk process. To further confirm the findings in this research, the variance ratio test is conducted under heteroscedasticity and homoscedasticity it also strongly verified that the existence of a random walk process cannot be rejected in the JSE. The empirical results from all the various tests reveal that the null hypothesis of random walk cannot be rejected. These results thus suggest that the JSE is efficient in its weak form. This commends all the measures which have been carried out to ensure that the market is efficient.
- Full Text:
- Date Issued: 2016
A model to enhance the perceived trustworthiness of Eastern Cape essential oil producers selling through electronic marketplaces
- Authors: Gcora, Nozibele
- Date: 2016
- Subjects: Electronic commerce -- Security measures -- South Africa -- Eastern Cape Essences and essential oils -- South Africa -- Eastern Cape Essences and essential oils -- Marketing , Internet marketing -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2194 , vital:27672
- Description: Eastern Cape Province farmers in the natural essential oils industry are yet to fully realise the use of electronic commerce (e-commerce) platforms, such as electronic marketplaces (e-marketplaces) for business purposes. This is due to the issues that include lack of awareness, poor product quality, untrusted payment gateways and unsuccessful delivery that are associated with e-marketplaces. As a result, farmers do not trust e-marketplaces and therefore hesitate to engage in e-marketplaces for business purposes. This is further complicated by natural essential oils buyers‟ tendency of preferring face-to-face interaction with a supplier rather than online interaction as they need quality assurance. As such, this research proposes a model to enhance the perceived trustworthiness of natural essential oil producers in the Eastern Cape Province selling through e-marketplaces. The model constitutes the factors that could be considered in assisting essential oil producers to create a perception of trustworthiness to buyers in e-marketplaces. These factors were evaluated amongst five organisations involved in the production, retail or processing of essential oils using a multiple-case study methodology. The study‟s use of multiple-case study was applied within the interpretivist paradigm and five cases were considered. Interviews, document analysis and observations were used for data collection. Data analysis was done using within-case analysis followed by cross-case analysis to establish factors of trust. The essential oil producers based in the Gauteng, Kwazulu-Natal and Western Cape provinces were cases that had been successfully using e-marketplaces for a notable period of time. Accordingly, factors that contributed to the successful use of e-marketplaces informed the proposed model of this research. The model proposes that perceived trustworthiness of enterprises in e-marketplaces can be achieved through following the uncertainty reduction stages (Entry, Personal and Exit) and applying uncertainty reduction strategies (passive, active and interactive).
- Full Text:
- Date Issued: 2016
- Authors: Gcora, Nozibele
- Date: 2016
- Subjects: Electronic commerce -- Security measures -- South Africa -- Eastern Cape Essences and essential oils -- South Africa -- Eastern Cape Essences and essential oils -- Marketing , Internet marketing -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2194 , vital:27672
- Description: Eastern Cape Province farmers in the natural essential oils industry are yet to fully realise the use of electronic commerce (e-commerce) platforms, such as electronic marketplaces (e-marketplaces) for business purposes. This is due to the issues that include lack of awareness, poor product quality, untrusted payment gateways and unsuccessful delivery that are associated with e-marketplaces. As a result, farmers do not trust e-marketplaces and therefore hesitate to engage in e-marketplaces for business purposes. This is further complicated by natural essential oils buyers‟ tendency of preferring face-to-face interaction with a supplier rather than online interaction as they need quality assurance. As such, this research proposes a model to enhance the perceived trustworthiness of natural essential oil producers in the Eastern Cape Province selling through e-marketplaces. The model constitutes the factors that could be considered in assisting essential oil producers to create a perception of trustworthiness to buyers in e-marketplaces. These factors were evaluated amongst five organisations involved in the production, retail or processing of essential oils using a multiple-case study methodology. The study‟s use of multiple-case study was applied within the interpretivist paradigm and five cases were considered. Interviews, document analysis and observations were used for data collection. Data analysis was done using within-case analysis followed by cross-case analysis to establish factors of trust. The essential oil producers based in the Gauteng, Kwazulu-Natal and Western Cape provinces were cases that had been successfully using e-marketplaces for a notable period of time. Accordingly, factors that contributed to the successful use of e-marketplaces informed the proposed model of this research. The model proposes that perceived trustworthiness of enterprises in e-marketplaces can be achieved through following the uncertainty reduction stages (Entry, Personal and Exit) and applying uncertainty reduction strategies (passive, active and interactive).
- Full Text:
- Date Issued: 2016
A feedback loop model to facilitate communication between citizens and local government in a smart city
- Authors: Gopeni, Amanda
- Date: 2016
- Subjects: Internet in public administration -- South Africa -- Eastern Cape Communication in public administration -- South Africa -- Eastern Cape Electronic government information -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2205 , vital:27705
- Description: In recent years, an increasing number of people move into cities to search for better opportunities for themselves and their families. This movement is known as urbanisation and makes it difficult for the local government to fully understand citizens’ needs particularly pertaining to public safety matters. During the first phase of the Public Safety Smart City project, it was identified that there is a need for feedback loop to facilitate effective communication of public safety issues between citizens and local government. This means that EL citizens do not have a better channel in place to address their public safety issues to the local government. This could lead to the decisions made by the local government in public safety not fully communicated back to the citizens. The primary objective of the study is to develop a feedback loop model that will assist in more effective reporting of public safety issues between citizens and the local government. The study followed an interpretivism paradigm and the research methodology employed is the qualitative approach. This was influenced by the existing De Fleur model of communication, secondary data and also semi-structured interviews. The interviews were conducted with eleven citizens and four managers from the Department of Public Safety. It was ascertained that the lack of a feedback loop about public safety issues between citizens and local government is likely to increase public safety issues. Findings revealed that this is because citizens are not continuously updated about their reports and also about the state of public safety matters. Furthermore, the methods of communication utilised lead to poor communication of public safety issues. The study concludes that the introduction of an Information and Communication Technology enabled feedback loop between citizens and local government can help in reducing public safety issues and make public safety officials proactive rather than reactive.
- Full Text:
- Date Issued: 2016
- Authors: Gopeni, Amanda
- Date: 2016
- Subjects: Internet in public administration -- South Africa -- Eastern Cape Communication in public administration -- South Africa -- Eastern Cape Electronic government information -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2205 , vital:27705
- Description: In recent years, an increasing number of people move into cities to search for better opportunities for themselves and their families. This movement is known as urbanisation and makes it difficult for the local government to fully understand citizens’ needs particularly pertaining to public safety matters. During the first phase of the Public Safety Smart City project, it was identified that there is a need for feedback loop to facilitate effective communication of public safety issues between citizens and local government. This means that EL citizens do not have a better channel in place to address their public safety issues to the local government. This could lead to the decisions made by the local government in public safety not fully communicated back to the citizens. The primary objective of the study is to develop a feedback loop model that will assist in more effective reporting of public safety issues between citizens and the local government. The study followed an interpretivism paradigm and the research methodology employed is the qualitative approach. This was influenced by the existing De Fleur model of communication, secondary data and also semi-structured interviews. The interviews were conducted with eleven citizens and four managers from the Department of Public Safety. It was ascertained that the lack of a feedback loop about public safety issues between citizens and local government is likely to increase public safety issues. Findings revealed that this is because citizens are not continuously updated about their reports and also about the state of public safety matters. Furthermore, the methods of communication utilised lead to poor communication of public safety issues. The study concludes that the introduction of an Information and Communication Technology enabled feedback loop between citizens and local government can help in reducing public safety issues and make public safety officials proactive rather than reactive.
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- Date Issued: 2016