Incentive effects: assessing effort and heterogeneity in professional tennis
- Authors: Chadwick, Byron James Rhett
- Date: 2019
- Subjects: Professional sports -- Economic aspects , Tennis players -- Wages , Tennis -- Tournaments , Achievement motivation , Incentive awards
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/69467 , vital:29541
- Description: This study explores the impact incentive effects have on the level of effort exerted by professional men and women tennis players. Understanding what impact incentives have on tennis players can allow for greater understanding of the impact incentives have in the workplace and how employees react to different incentive schemes. The study makes use of data from both the ATP and WTA tour of every tournament played during the 2016 season. This includes player statistics, tournament statistics and in-game statistics from the quarter-finals, semi-finals and finals of each tournament in an attempt to account for initial seeding effects. This provides a total of 440 ATP matches and 389 WTA matches for an overall sample size of 829 professional tennis matches. The findings from this study illustrate in the last three rounds of all the tournaments played, for both male and females, money is not considered to be a key motivator for players. The ATP and WTA results suggest that competitors do not alter their effort levels depending on the level of the tournament. This illustrates that players exert similar effort levels regardless of the amount of money or ranking points available. The outcome of the findings supports that of the capability effect of heterogeneity on players’ performance. This means that the outcome of a match is linked more to the abilities of the competitors involved as opposed to the incentives available. Thus, players will adjust their effort levels according to their opponent and not because there are more money or ranking points available. This suggests that both the ATP and WTA should aim to reduce the differences in abilities amongst the players in an attempt to raise the attractiveness of the sport. Overall, the findings from this study illustrate that the capability effect outweighs that of the incentive effect.
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- Date Issued: 2019
Testing the efficient market hypothesis in the cryptocurrency market
- Authors: Apopo, Natalya Camilla
- Date: 2019
- Subjects: Digital currency
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42427 , vital:36662
- Description: Digital currencies are rising in popularity owing to their purported benefits and the speculative profits that investors are making in the market. These currencies, though decentralised in substance, can be purchased using digital wallets from cryptocurrency exchange platforms around the world. In Africa, these platforms are still at the nascent stages of growth and development, but evidence suggests a burgeoning potential in these markets. Volatility in these markets has been a topic of concern for many empirical investigations with most finding corroborative evidence of excess volatility in the digital currency market. However, there is a conflicting body of evidence when it comes to the studies evaluating the efficiency of the virtual currency market. The efficient market hypothesis ( EMH)is a controversial theory in finance. Proponents argue that it provides a basis for understanding financial markets whereas opponents suggest that the hypothesis is premature in its assumptions of the real functioning of these markets. Though not perfect, the efficient markets model provides a sufficient baseline against which capital markets may be analysed. Besides being one of the most empirically investigated theories in finance, its utility led to the development of later models such as the capital asset pricing model. In postulating that the prices of securities reflect all available information in capital markets, the efficient markets theory lends itself to testing the efficacy levels of the cryptocurrency market. For the purposes of this study, the weak version of the efficient markets theory was evaluated as itis considered the lowest possible form of efficiency attainable. Using both linear and nonlinear unit root testing methodologies, a significant subset of the cryptocurrency market was investigated for inefficiencies via the null hypothesis of non-stationarity. There were mixed results from the testing process, but a substantial portion of the currencies investigated rejected the null of a unit root in favour of stationarity, providing some evidence against weak form efficiency. For these reasons, it is recommended that further research be conducted in the virtual currency markets to offer more conclusive findings.
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- Date Issued: 2019
An access control model for a South African National Electronic Health Record System
- Authors: Tsegaye, Tamir Asrat
- Date: 2019
- Subjects: Medical records -- Data processing , Medical records -- Data processing -- Safety measures , Medical records -- Data processing -- South Africa , Medical records -- Data processing -- Access control , Medical informatics , Medical records -- Management -- South Africa , Health services administration -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/97046 , vital:31390
- Description: Countries such as South Africa have attempted to leverage eHealth by digitising patients’ medical records with the ultimate goal of improving the delivery of healthcare. This involves the use of the Electronic Health Record (EHR) which is a longitudinal electronic record of a patient’s information. The EHR is comprised of all of the encounters that have been made at different health facilities. In the national context, the EHR is also known as a national EHR which enables the sharing of patient information between points of care. Despite this, the realisation of a national EHR system puts patients' EHRs at risk. This is because patients’ information, which was once only available at local health facilities in the form of paper-based records, can be accessed anywhere within the country as a national EHR. This results in security and privacy issues since patients’ EHRs are shared with an increasing number of parties who are geographically distributed. This study proposes an access control model that will address the security and privacy issues by providing the right level of secure access to authorised clinicians. The proposed model is based on a combination of Role-Based Access Control (RBAC) and Attribute-Based Access Control (ABAC). The study found that RBAC is the most common access control model that is used within the healthcare domain where users’ job functions are based on roles. While RBAC is not able to handle dynamic events such as emergencies, the proposed model’s use of ABAC addresses this limitation. The development of the proposed model followed the design science research paradigm and was informed by the results of the content analysis plus an expert review. The content analysis sample was retrieved by conducting a systematic literature review and the analysis of this sample resulted in 6743 tags. The proposed model was evaluated using an evaluation framework via an expert review.
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- Date Issued: 2019
Personal development preferences across generations and implications for organisations
- Authors: Berry, Simone Michelle
- Date: 2019
- Subjects: Career development
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/36544 , vital:33964
- Description: Due to generational differences in organisations, it is sensible to determine the learning preferences of professional employees across generations so that organisations can provide learning opportunities that these employees will embrace. The purpose of this study was therefore to determine the personal development preferences of professional employees from different generations within corporate organisations in Cape Town. The research intends to aid organisations that upskill their employees and to ensure they are utilising the most effective and efficient methods. To this effect, a survey with a self-administered questionnaire was provided to 59 professional employees across several generations utilising a Likert scale where the participants were able to rate the different developmental strategies based on their preferences. The results revealed that similarities existed between the generations in relation to their preferences; however, younger generations were more likely to be open to several personal development strategies, whereas older generations had a refined preference they have developed over the years. It is consequently recommended to organisations to customise their training methods to the different generational groups, based on their preferences and thereby to use this method to aid professional employees in understanding each other.
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- Date Issued: 2019
An emancipatory approach for innovative access to education in farm schools of the Eastern Cape, South Africa
- Authors: Robinson, Craig Grant
- Date: 2019
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/72462 , vital:30055
- Description: Expected release date-April 2020
- Full Text: false
- Date Issued: 2019
Personal branding through social networking
- Authors: Wait, John-Pierre
- Date: 2019
- Subjects: Branding (Marketing) -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42440 , vital:36660
- Description: This study explores people’s insights of personal branding by means of social networking. The continuously increasing competitive marketplace is creating a situation where people find it difficult to stand out from their peers. Personal branding affords the opportunity for people to be noticeable in competitive environments. This study used a qualitative research method employing two phases. The semi-structured personal interviews using a semi-structured interview schedule was conducted in the first phase, while the content analysis using criterion schedules analysing participants’ Facebook and LinkedIn social networks was done in phase two. The results of phase one of the study revealed that the majority of participants did not know what a personal brand was, but they believed they possessed a personal brand. Phase two of the study revealed that only a few participants had a coherently perceived personal brand and presented personal brands on both Facebook and LinkedIn. Phase two of the study also revealed that the majority of participants more prominently presented the skills necessary for the future work environment on Facebook rather than LinkedIn. In conclusion, the findings showed that most participants did not actively manage their personal brands across multiple social networking sites. They also did not effectively present the necessary skills for the future work environment on their social networking profiles.
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- Date Issued: 2019
Determining the effects of debt-to-GDP ratio on the economic growth of Greece, Italy and South Africa
- Authors: Mowoe, Merioboroghene Oreoluwa
- Date: 2019
- Subjects: Debts, Public -- Greece , Debts, Public -- Italy Debts, Public -- South Africa Economic development Greece -- Economic conditions Italy -- Economic conditions South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41942 , vital:36611
- Description: A major challenge that most countries currently face, is to bring their economies out of indebtedness. In this study, the impact of public debt on the economic growth of Greece, Italy, and South Africa, and any similarities between them, was analysed. Two models were adopted for this purpose, the ARDL model and the VEC model. The ARDL was used to conduct a co-integration relationship between public debts, economic growth, with four controlled variables: inflation, government spending, net export, and investment. The results showed a negative co-integrating relationship for all three countries. In addition, the VEC model was adopted to determine whether there was causation between public debt and economic growth in each of the three countries. It was found that a unidirectional causality between public debt and economic growth exists for all three countries. For Greece, a long-run causality was found moving from economic growth to public debt. For Italy, short-run and long-run causalities were found, moving from economic growth to public debt. For South Africa, both a long-run and a short-run causality were found moving from public debt to economic growth. The economic growth and development policies for reducing the public debt of these countries, are recommended in accordance with the findings of the research results.
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- Date Issued: 2019
Testing the validity of Okun’s law in South Africa within the democratic era
- Authors: Mavikela, Nomahlubi
- Date: 2019
- Subjects: Labor market -- South Africa , South Africa -- Economic conditions Unemployment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41559 , vital:36512
- Description: The challenge of high unemployment rates coupled with sluggish growth rates is an important issue in developing economies. The presence of high unemployment rates implies the lack of utilisation of labour resources efficiently. Hence, it being of grave importance for government to prioritise as a major macroeconomic goal the attainment of full employment due to its ability of maximising output. Okun’s law is a well-known relationship postulating an inverse relationship between unemployment and output, implying that an increase in unemployment would be associated with a decline in output and vice versa. Since the pioneer work of Okun (1962), a large volume of empirical studies have been conducted looking at the relationship between economic growth and the rate of unemployment. However, their findings are varied due to differences in the model specification, choice of variables used, econometric models and time periods. The main objective of this dissertation is to test the validity of Okun’s law in South Africa using quarterly data for the period 1994-2016. The importance of determining the effect of the association will inform policy decisions. A variety of detrending methods are utilised such as the Hodrick-Prescott filter, Corbae Ouliaris FD filter and L1 trend filter to decomposed output and unemployment into their trend and cyclical components. Furthermore, the linear and nonlinear autoregressive distributed lag (ARDL) model together with the error correction model (ECM) are employed to obtain the short and long-run estimates. Overall, the empirical results revealed that the Okun’s coefficients magnitude differed over time; however, only a selected few were found to be statistically significant for the tested time periods. Using the ARDL model the study found that in the long-run a 1% increase in GDP for the 2001-2008 time period was associated with a 0.17% decline in unemployment. While a 1% increase in unemployment in the long-run resulted in 0.78% decline in GDP. Meanwhile, in the short-run, the study confirmed that a 1% increase in GDP is associated with 0.21%-0.69% decline in unemployment. While a 1% increase in unemployment resulted in a 0.10%-0.14% decline in GDP. These findings reveal that measures aimed at boosting economic growth will have a bigger impact in reducing unemployment levels. Furthermore, these findings reiterate the need for effective policies to reduce the gradually increasing unemployment rate and improving growth levels.
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- Date Issued: 2019
Sustainability reporting guidelines for higher educational institutions in South Africa
- Authors: Zietsman, Jaco
- Date: 2019
- Subjects: Education, Higher -- South Africa , Corporation reports Sustainability
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/33384 , vital:32754
- Description: In the higher education sector, a number of Higher Education Institutions (HEIs) are playing a leading role in promoting sustainable initiatives. Managing these initiatives effectively can be a complex task and requires data and information from multiple sources. HEIs must ensure financial sustainability, social sustainability, environmental sustainability and educational sustainability. HEIs in South Africa are required to produce a sustainability report for the Department of Higher Education and Training (DHET) on an annual basis. HEIs are not required to use a specific set of guidelines to create a report that complies with the DHET reporting requirements. HEIs face a number of challenges in effectively managing and reporting on sustainability information, such as poor sharing and communication of information and combining information from different sources to form an integrated report. Well-structured guidelines that adheres to institution standards and governmental reporting requirements can effectively streamline the sustainability reporting process. This study investigates the requirements and challenges of effective sustainability reporting for HEIs in South Africa. A set of Global Reporting Initiative (GRI) G4 guidelines were reworked to support effective sustainability reporting by South African HEIs. Nelson Mandela University is one such HEI, which is affected by the challenges of managing and reporting on strategic sustainability information. Nelson Mandela University was therefore used as a case study in this research study. An in-depth study was done exploring how prominent international universities apply the GRI guidelines to contribute and generate integrated sustainability reports for their specific HEIs and general reporting needs and requirements. Additionally, an in-depth study of the German integrated reporting guidelines for HEI’s was conducted. Furthermore, a study of the South African DHET reporting requirements was conducted to explore the similarities that exists between the GRI (G4) guidelines and DHET requirements. The guidelines were evaluated by Nelson Mandela University personnel and academics. The final product consists of a set of GRI guidelines that have been adapted to satisfy both GRI and DHET requirements for integrated sustainability reporting for South African HEIs. The contributions from this study are a set of GRI G4 guidelines and examples for integrated sustainability reporting and management for HEIs in South Africa. The set of adapted GRI guidelines for HEIs in South Africa was created with the assistance of the strategic management departments at Nelson Mandela University. The GRI guidelines have been reworded to be specifically applicable to South African HEIs and contain instructions and guidelines on how to generate an integrated sustainability report for a South African HEI.
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- Date Issued: 2019
Cultural clusters as a local economic development strategy in rural, small town areas: the Sarah Baartman District in the Eastern Cape of South Africa
- Authors: Drummond, Fiona Jane
- Date: 2019
- Subjects: Cultural industries -- South Africa -- Eastern Cape , Creative ability -- Economic aspects -- South Africa -- Eastern Cape , Arts -- Economic aspects -- South Africa -- Eastern Cape , Culture -- Economic aspects -- South Africa -- Eastern Cape , Economic development -- South Africa -- Eastern Cape , Economic development projects -- South Africa -- Eastern Cape
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/71568 , vital:29879
- Description: It is increasingly recognized that the cultural and creative industries (CCIs) can play an important role in economic growth and development. Governments around the world, including South Africa, are implementing culture‐led economic growth and development strategies on national and regional scales. CCIs tend to cluster around large cities because of existing hard and soft infrastructure such as networking advantages and access to skilled labour, however, much less is known about the potential of the CCIs to drive rural development. This thesis thus investigates the potential of the CCIs to cluster in small towns and rural areas. Moreover, it examines the relationship between the CCIs and socio‐economic development. The CCIs have been touted as a catalyst for economic growth and development and so have often been used in urban regeneration schemes. The Sarah Baartman District (SBD) of South Africa’s Eastern Cape has identified culture as a potential new economic driver. Establishing a new development path is necessary as the former economic mainstay, agriculture, has declined in the region, creating poverty and unemployment problems. However, the SBD has only small towns which, according to the literature, are not suited to CCI clustering. Despite this, there is evidence of cultural clustering in some of the SBD’s small towns like Nieu Bethesda and Bathurst. This research therefore conducted an audit of the CCIs in the district and used geographic information systems (GIS) to map their locations by UNESCO Framework of Cultural Statistics (FCS) domains in order to determine the extent to which clustering has occurred in a small town setting. The audit identified 1 048 CCIs operating in the district and determined that clustering is possible within some small towns, depending on their demographic, economic, social, geographic and historic characteristics. For small towns where clusters exist or the potential for cluster formation is present, the domains in which the town holds a comparative advantage, based on domain proportions and location quotients, should be pursued for local economic development (LED). In this case, Visual Arts and Crafts and Cultural Heritage were prominent throughout the district while Design and Creative Services and Performance and Celebration had small regional concentrations. Theory suggests that the presence of CCIs is linked to higher levels of economic development as the creative class is more likely to be attracted to more highly developed areas, usually large cities. Furthermore, spillover effects from cultural activity promotes further development under the virtuous cycle. To investigate the relationship between CCI clusters and socio‐economic development, the locational data of municipal level CCI numbers is overlaid with a regional development indicator, a socio‐economic status index, which is based on census data and includes economic and social components. Results show that there is a general positive trend of CCIs locating in larger numbers (clustering) in areas with higher socio‐economic development performances.
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- Date Issued: 2019
The role of agricultural support programmes on the livelihoods of smallholder maize farmers in Lesotho: asset utilisation, productivity and perceptions
- Authors: Mohlahatsa, Taole
- Date: 2019
- Subjects: Agriculture and state -- Lesotho , Agriculture -- Economic aspects -- Lesotho , Farms, Small -- Government policy -- Lesotho , Farms, Small -- Lesotho , Agricultural assistance -- Lesotho , Rural development -- Lesotho
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/71580 , vital:29914
- Description: The agricultural sector is widely considered an important contributor to economic development in least developed countries. It plays an important role in Lesotho and has been the backbone of rural activities and the prime employer of Basotho citizens. Smallholder farming is recognised by the government of Lesotho as a vehicle for addressing food security and poverty reduction. Maize is the principal staple crop produced by about 90 percent of farmers in Lesotho and it constitutes about 80 percent of the Basotho diet. Maize production is highly affected by climate change and is characterised by fluctuating yields because of erratic rainfall. In addition to unfavorable climate change, smallholder farmers in Lesotho experience challenges such as lack of farming inputs, limited access to markets and limited financial capital. These constraints confine them to a life of subsistence farming with low production and increased incidences of poverty. The government of Lesotho has intervened in the smallholder agricultural sector to stimulate production and productivity by introducing some agricultural programmes such as (i) the National Fertiliser and Input subsidy, (ii) the Smallholder Agricultural Development Programme, (iii) the National Block Farming, and (iv) the Integrated Watershed Management Programme. However, despite such government interventions, production in the smallholder agricultural sector continues to face recurring constraints. Studies on the National Block Farming Programme have showed that the programme has had limited impact on the livelihoods of smallholder farmers. Furthermore, farmers believe the Integrated Watershed Management Programme has a biased selection criteria as selection of areas is influenced by politicians who favour areas where they have a large political following and marginilise other areas. These concerns have also led to low participation rates in such programmes as wealthier, large scale farmers capture most of the benefits of government programmes. Disproportionate benefits of agricultural programmes to smallholder farmers imply that they continue to face the same constraints in production and have to find alternative ways of maintaining production and selling excess produce to sustain their livelihoods. The main goal of this research is therefore to study the livelihoods of smallholder maize farmers in Lesotho and how agricultural support programmes influence their production of maize. The study adopted a pragmatic mixed methods approach with a qualitative dominant sequential design. Accordingly, both quantitative and qualitative data was used to address the research goal. Quantitative data collected from the Lesotho Bureau of Statistics and the World Bank was used for trend analysis on maize productivity, temperature and rainfall over the period 1980-2016. Qualitative primary data was collected by conducting focus group discussions with smallholder maize farmers and key stakeholder interviews using the sustainable livelihood framework as a conceptual guide. The study comprised of a total of 85 research participants consisting of 75 smallholder maize farmers and 10 key stakeholders. Farmers were selected from 10 key maize producing areas in Leribe and Mafeteng districts in Leribe. Results revealed fluctuating maize productivity and productivity growth rates where such fluctuations are caused by government intervention and natural calamities in the form of erratic rains and dry spells. Droughts and late arrival of subsidised inputs are the chief constraints to maize production. In relation to livelihood assets, human and social assets are the more available assets relative to other assets (financial, natural and physical) of the sustainable livelihood framework. Furthermore, the National Fertiliser and Input subsidy Programme and the Smallholder Agricultural Development Programme are the most beneficial programmes to farmers livelihoods as they increase the accessibility of limited livelihood assets and therefore allowing farmers to achieve their livelihood goals. In contrast, the National Block Farming and the Integrated Watershed Management Programme are the least beneficial programmes to farmers’ livelihoods and are biased in their geographical targeting criteria. The study recommends that the government revises all selected support programmes in this study in areas warranting improvements so as to fairly and efficiently allocate resources that meet the needs of farmers. The study also recommends that farmers put more effort in adopting new technologies and strategies to improve production of maize in areas where government intervention has failed.
- Full Text:
- Date Issued: 2019
Financial development and economic growth in South Africa
- Authors: Mhango, Joseph
- Date: 2019
- Subjects: Finance -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41117 , vital:36358
- Description: Since the identification of financial development for economic growth by Schumpeter (1911), the importance of financial development has been emphasised. However, the nature of the relationship is unclear, whether financial development is demand-following, supply-leading, feedback relationship or no causal relationship with economic growth. The revolution of the relationship between finance and economic growth has left a void of the exact nature of the relationship and importance of financial development in literature and empirical evidence. In addition, the variation of the nexus between financial development and economic growth in developed and developing countries has left policy makers uncertain on the exact policy to employ. In awe of this, after the discovery of diamonds and gold in South Africa, policy makers have attempted to improve the access, depth and efficiency of the finance sector to spur economic growth. However, South Africa has been subject to apartheid, low economic growth, global financial crises, international sanctions, unemployment and other challenges to the finance sector. In light of this, this study aims to empirically investigate the relationship between financial development and economic growth in South Africa. The study used the recently developed financial institutions index and financial markets index by the International Monetary Fund to represent bank-based and market-based financial development. This study utilises annual data over the period 1980 to 2014. The study applied the Autoregressive Disturbed Lag (ARDL) bounds testing, Vector Error Correction Model (VECM) Granger – Causality, Impulse Response Function (IRF) and Variance Decomposition to uncover the relationship between financial development and economic growth in South Africa. The ARDL was selected over the Johansen Cointegration because the variables can be I (1) or I(0) before carrying out the bounds testing. It is more suitable to a small sample size. It uses a reduced form equation, and it provides unbiased estimates of the long-run model. Lastly, it can be transformed into an error correction model. The VECM Granger-Causality was chosen because it represents the short-run and long-run causalities. After selection of the optimal lag, the ARDL bounds testing shows that economic growth, bank-based financial development, market-based financial development, savings and investment have a long-run relationship in South Africa. However, after estimation of the coefficients, financial development has a positive relationship with economic growth, but insignificant and only savings and investment were significant in determining long-run economic growth. The VECM granger-causality results show that financial development (bank and market), savings and investment granger cause economic growth in the long-run. While, economic growth, market-based financial development, savings and investment granger cause bank-based financial development in the long-run. Therefore, a feedback relationship exists between bank-based financial development and economic growth in the long-run. In the short-run, it was clear that bank-based financial development positively causes economic growth. The causality results show that a feedback relationship exists between bank-based financial development and economic growth in South Africa in the short-run as well. The IRF shows that a shock in economic growth negatively and positively affects bank based and market-based financial development respectively. A shock in bank-based financial development causes a positive effect on economic growth. Lastly, a shock in market-based financial development causes a positive effect on economic growth. Whilst, the variance decomposition shows that fluctuations in economic growth are increasingly explained by financial development (bank and market). While, fluctuations in bank-based financial development are increasingly explained by market-based financial development, savings and investment. The fluctuations in market-based financial development are increasingly caused by economic growth, savings and investment. It is recommended that policy makers utilise bank-based financial development for economic growth and reduced unemployment, to increase savings for long-run economic growth. Furthermore, challenges against market-based financial development should be reduced in order to create a positive relationship between investment and economic growth in the long run.
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- Date Issued: 2019
Familiness resource pools: a comparative study in a developing country context
- Authors: Izaks, Robert
- Date: 2019
- Subjects: Family-owned business enterprises -- Management , Family corporations -- Management Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40105 , vital:35755
- Description: Over the years, there has been an increased research interest in the field of family business because of the entrepreneurial potential of these businesses, as well as their potential to outperform non-family businesses. However, a lack of longevity and a lack of transgenerational success has hindered the potential of family businesses. The widely recognised Successful Transgenerational Entreprenuership Practices (STEP) framework highlights that eight familiness resource pools influence performance outcomes and ultimately the transgenerational potential of family businesses. These eight family resource pools are: leadership, networks, capital, decision-making, culture, relationships, governance, and knowledge. Given the lack of knowledge that exists concerning the nature of familiness resource pools among family businesses in a developing country context, the purpose of this study was to investigate the familiness resource pools of two South African family businesses, so that the nature of these pools in a developing country can be described and potential sources of heterogeneity highlighted. Specifically, the study analyses these familiness resource pools as a source for creating value across generations and enhancing the longevity of family businesses. The study followed the research methodology guidelines and protocols of the global STEP project by adopting an interpretivistic paradigm and a qualitative methodological approach. The case study methodology was used, and two successful multigenerational family businesses operating in the South African automotive industry were selected by means of criterion sampling. The data was collected by undertaking personal interviews with key members of these family businesses, and the data analysis involved undertaking deductive content analysis using Atlas.ti and a comparative analysis. The findings of this study suggest that the familiness resource pools among family businesses in a developing country are similar in some respects to those of family businesses in a Western context. However, they differ in other respects, and differ from each other. As such, the existence of heterogeneity in family businesses and particularly among the familiness resource pools, is confirmed. The findings also identify several similarities and differences between the extant literature and real world evidence concerning the nature of the familiness resource pools in family businesses. In general, they suggest that real world evidence is often similar to that reported in extant literature with only some discrepancies being identified. The current study provides a better understanding of the nature of the familiness resource pools in a developing country, and has enhanced the knowledge of family businesses in this regard. In describing the eight familiness resource pools of two successful South African family businesses in the automotive industry, this study provides valuable insights into the nature of the resource pools of successful family businesses in a developing country context and highlights their heterogeneity. The findings also prove of value to the participating family businesses, because by highlighting shortcomings and differences between them, changes and improvement can be made where necessary.
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- Date Issued: 2019
Measuring the industry maturity of the South African export table grape industry
- Authors: De Bruyn, Corean
- Date: 2019
- Subjects: Exports -- South Africa , Fruit trade -- South Africa Agriculture -- Economic aspects -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39403 , vital:35243
- Description: Despite the fact that the South African export table grape industry is more than a century old, studies which focus on the development of the industry have not previously been conducted. The main aim of this study was to measure the phase of maturity of the South African export table grape industry. The industry life cycle model was a main focus point to measure the maturity of the South African export table grape industry and as such has been used to analyse the dynamics of the South African export table grape industry. An expansive literature study was conducted to identify as many variables as possible that serve as indicators of the phase of maturity. A measuring instrument, in the form of a questionnaire, was developed, based on these identified variables. A randomly selected sample of 214 export table grape producers completed the questionnaire. Five main export table grape regions are present in South Africa, namely, the Hex River Valley region, the Berg River region, the Olifants River region, the Orange River region and the Northern Province region. An exploratory factor analysis was used to disentangle and reduce the large number of variables. From the factor analysis, four distinct factors emerged, namely: Manufacturing and Distribution, Demand, Research and Development, and Buyer Segments. Cronbach’s coefficient alpha was employed to confirm the reliability and internal consistency of the measuring instrument. The mean scores and standard deviations were used to determine the strength of direction of each of the four variables, followed by a t-test to determine the differences in development between the five regions. Finally, the Pearson’s Product Moment Correlations were calculated for investigating the correlations between the variables used. The findings indicated that, among the five-export table grape regions in South Africa, Manufacturing and Distribution have evolved beyond the introductory phase, but that there is still considerable scope for growth in all the regions. Additionally, there are significant differences between the five regions, thereby indicating that the industry exhibits uneven development with some of the regions being further along the path of development. Demand delivered the second highest mean score and the smallest variation among the five regions. This indicates that export table grapes from South African producers have a loyal customer base. The mean score, however, still indicated that the industry as a whole is in the growth phase of development. Research and Development delivered the highest mean score, thereby signifying the industry’s commitment to research and development. This once again points to an industry being in the growth phase of development. The average mean score delivered by Buyer Segments indicates that the market has begun to fragment. This provides opportunities to create and exploit niche marks. This too conforms to the characteristics of the growth phase in the industry life cycle model. In essence, the current study provided useful information regarding the evolution of the South African export table grape industry. Moreover, a foundation has been laid for further research to be conducted in the industry life cycle of the South African export table grape industry.
- Full Text:
- Date Issued: 2019
The determinants of economic growth in BRICS Countries
- Authors: Nyirenda, Chimwemwe
- Date: 2019
- Subjects: Economic development -- BRIC countries , BRIC countries -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42946 , vital:36713
- Description: One of the key goals of the formation of BRICS (Brazil, Russia, India, China and South Africa) was to promote stability in trade and investment which would boost growth as the five BRICS countries recovered from the 2009 global financial crisis. This however has not been the case for all BRICS countries where only certain members have experienced a substantial increase in growth while others have experienced declining growth rates. The objective of this study was to analyse the determinants of economic growth in BRICS countries in order to investigate the causes of growth rates varying amongst the BRICS economies. This paper considered various economic theories for proximate and fundamental determinants of growth which included: The Harrod-Domar model, The Neoclassical Growth Theory, The Endogenous Growth Model, The New Growth Theory, Institutions and Economic Growth, Democracy, The Quality of Governance and Growth, Finance and Growth, Trade and Economic Growth and lastly Financial Openness and Growth. The study was conducted for a period covering from 1995 to 2016 and made use of the Autoregressive Distributed Lag (ARDL) model for the single-country analysis and Pooled Mean Group (PMG) was used for the panel analysis. In the single-country analysis, the descriptive statistics indicated that individually all of the BRICS members on average experienced positive GDP growth, positive investment (capital formation) and trade openness between 1995 to 2016. The single-country analysis made use of the ARDL Bounds test to investigate cointegration in each country and a long-run relationship was established in all BRICS countries except for China. The augmented Solow model was extended to incorporate both proximate and fundamental determinants of growth. The estimated results for the ARDL model found that capital and trade openness were significant in determining GDP growth for all of the BRICS countries except for China. FDI was insignificant in determining growth in BRICS countries except for India and the remaining variables gave mixed results between the countries. The error correction term (ECT) was significant and negative in all of the BRICS countries (except for China) which indicated that there was convergence. In the panel analysis, a long-run relationship was established using the KAO Residual cointegration test. The panel correlations test for BRICS revealed that GDP growth had a positive correlation with all the variables under analysis except for inflation which was in line with the anticipated correlations. The PMG estimated results for BRICS found that the proximate determinants (capital and labour) were both significant in determining growth in the long-run where capital had a positive relationship and labour had a negative relationship with growth. Trade openness, inflation and FDI were significant in determining growth in the long-run, though government expenditure was insignificant in determining growth. The error correction term for BRICS illustrated that there was convergence and 92% of the disequilibrium in the short-run is corrected each year. The analysis revealed that BRICS economies should adopt more policies that encourage domestic investment and trade in order to boost growth. Policies such as relaxing local corporation taxes can encourage domestic investment which will aid local businesses in competing against foreign competition. Countries such as Brazil, India and South Africa can adopt more policies that encourage the development and growth of SMME’s. An area for future research would be to incorporate a location variable into the fundamental determinants of growth where the analysis could be conducted per region in each of the BRICS countries, which would give a broader view on which regions are determining growth in BRICS countries.
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- Date Issued: 2019
Efficient market hypothesis in South Africa: an analysis using the flexible form unit root test
- Authors: Nomatye, Anelisa
- Date: 2019
- Subjects: Stocks -- Prices -- South Africa , Stock exchanges -- South Africa Stocks -- South Africa Johannesburg Stock Exchange Economic indicators -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42825 , vital:36697
- Description: An efficient stock market is characterised by prices that are reflective of all the information such that there are no opportunities for arbitrageurs. In an efficient market, it is impossible to beat the market, therefore it follows that stock prices in an efficient market should follow a random walk. This study investigates whether the Johannesburg Stock Exchange (JSE) is an efficient market using the JSE Top 40 listed stocks, thus the relevance of the EMH in the current South African market is analysed. A corerlation analysis is undertaken to find whether the individual stocks in the different sectors are correlated in their returns, or if there are any intersector correlations. This analysis showed that individual sector stocks are mostly correlated, however, the individual sector stocks do not show a relationship with common sectors. The data used is monthly data of the individual stocks from 31 January 1999 to 30 June 2018. The study takes into consideration that the period is post the Asian Contagion and during the dot.com bubble. Also considered is the Global Financial crisis that occurred in 2007/2008. The study period thus allows enough time for market corerction. The study utilises the conventional unit root tests; the augmented Dickey-Fuller (ADF), Phillips- Perron (PP) and the Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests. Also utilised are modified unit root tests of Elliot, Rothenburg and Stock (ERS) (1996) as well as Ng and Perron (2001). Due to criticisms of the initially utilised unit roots, the nonlinear test of Kapetanois et al. (2003) and the Flexible Fourier form (FFF) is employed. Based on the empirical analysis, the study demonstrates that although the studies received conflicting evidence the FFF demonstrates the most “power” of the tests, thus is deemed to provide more accurate results. This test provided evidence of stationarity in the JSE market, thus implying inefficiency. The results were different for only two of the forty stocks, namely, Shoprite and Bidvest which implied efficiency. The study thus found that the EMH is not relevant to the current South African market and other theories should be considered in analysing the market. This also provides a case for behavioural finance to be analysed, as the assumption that all investors are rational is questioned.
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- Date Issued: 2019
The effects of inflation on economic growth and unemployment in light of the global financial crisis in BRICS countries
- Authors: Falakahla, Lwazi
- Date: 2019
- Subjects: Inflation (Finance) -- BRIC countries , Economic development -- BRIC countries Unemployment -- BRIC countries Monetary policy , Global Financial Crisis, 2008-2009
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39829 , vital:35477
- Description: The key critical role played by Central Banks’ monetary policy and government macroeconomic policy relies on precise and timely forecasts on economic growth along the business cycle periods. In the past, many emerging countries have been facing problems of high escalating inflationary prices. This dissertation is set out to examine the influence of inflation on output growth and unemployment considering the global financial crisis in BRICS countries using annual data collected over the period 1980 to 2016. The study is divided into two sections; namely macroeconomic policy and monetary policy principles. The empirical analyses are computed through using the Autoregressive Distributed Lag (ARDL) approach proposed by Pesaran et al. (2001). The macroeconomic policy findings show that there is a negative long run relationship between inflation and economic growth in Russia and South Africa. The study’s ARDL bounds test for cointegration results also indicated that there is statistically significant long run comovement between inflation and economic growth in all BRICS countries. The study results also provided that there is an existence of a negative short run relationship between inflation and economic growth in South Africa. The Phillips curve results indicated that a positive long run trade-off between inflation and unemployment is found and no short run relationship discovered. It is also revealed that the long run co-movement between inflation and unemployment only exists in Russia and South Africa. The study is significant because it contributes to the empirical determinants of long term prosperity of the BRICS partners.
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- Date Issued: 2019
The relationship between reward preferences and occupational stress within the South African law environment
- Authors: Orban, Shanice
- Date: 2019
- Subjects: Psychology, Industrial , Stress (Psychology) -- Research Job stress
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/43101 , vital:36735
- Description: The primary objective of this dissertation was to investigate the relationship between reward preferences and occupational stress within the South African law environment. In order to achieve this objective, the researcher tested a theoretical model using regression analysis, and made use of Pearson’s Product Moment Correlations. A further aim was to investigate whether differences existed according to different types of lawyers with regards to these constructs. This was done using t-Tests and analysis of variance tests. The questionnaire was completed by a total of 207 lawyers spanning across 21 law firms, in both the Eastern and Western Cape. Data analysis was conducted using descriptive statistics which included frequency tables, and pie charts, and the aforementioned inferential statistics. The findings revealed a number of correlations between the factors of the two constructs, and significant differences with regards to the amount of stress experienced by employees within the law environment compared to the general population. The proposed theoretical model could be partially accepted as it showed that a correlation exists between Occupational Stress and the reward preference factors of Contingency Pay, Performance and Career Management, Quality Work Environment and Work/Home Integration, with no significant correlation between Occupational Stress and Base Pay and Benefits. Moreover, there was a statistically significant correlation between Distress and Reward Preferences, with no significant correlation between Coping Ability and Reward Preferences. The results of this study theoretically contribute to the area of reward preferences, and have uncovered a new area whereby reward preferences are shown to be related to occupational stress. The findings of this study hold important implications for the effective management and retention of key employees in the law environment within the South African context.
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- Date Issued: 2019
The effect of the exchange rate on economic growth in South Africa
- Authors: Maxwele, Chuma
- Date: 2019
- Subjects: Foreign exchange rates -- South Africa , Foreign exchange rates -- South Africa -- Econometric models Economic development -- South Africa South Africa -- Economic conditions -- Econometric models
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41548 , vital:36505
- Description: The study examines the effect of the exchange rate on South African economic growth rate, as this relationship is of paramount importance in South Africa, since the country has a highly volatile exchange rate in among emerging economies, and this has a significant impact on economic growth. The exchange rate can be explained or defined as the value of the home country or domestic currency in relation to foreign currencies, and economic growth, which is measured in terms of gross domestic product (GDP), which is the measure of currently produced final output in a country at a specific time period, usually a year or quarter. It has been long known that an inadequately or poorly managed exchange rate can be problematic in a country’s economic growth rate. Some economists point out that management of a country’s foreign exchange market is of utmost importance. Furthermore, bad exchange rate management can lead to unstable international relations that detrimentally affect the international trade of a country and cause large speculative financial flows, which could cause financial markets to be disrupted and also lead inefficient allocation of funds. At the same time, competitive exchange rate promotes a suitable economic environment that is a precondition when it comes to expanding of international trade and investment, and gaining of higher economic growth in a country. The purpose of this study is to investigate the effect of the exchange rate on economic growth in South Africa. This study employs a newly developed econometric technique known as non-linear autoregressive distributive lag (NARDL). This study employs annual data for the period of 1970 to 2017. The first variable is the real effective exchange rate of the rand, and the study compares the value of the rand against the currencies of the twenty trading partners. The second variable is economic growth, which is measured in terms of the gross domestic product (GDP). GDP is the value of output produced within the region or borders of a country during a period of time, usually a year or quarter. Investment is another variable used, and it is categorised into economic investment (capital formation) and financial investment but the study adopts economic investment. Economic investment is the quantity of capital stock in a society, simple put it is goods used in the making of other goods. Government expenditure is also used in the study, and government expenditure is about public goods and services provided to society, and is a major component of gross domestic product. The last variable employed in the study is broad money supply as a percentage of GDP, which can be explained as the sum of the currency outside financial institutions, such as demand deposits other than the ones for government, the time, savings, and foreign currency of residents other than the government. GDP data was obtained from the electronic data bases of South African Reserve Bank, and all the remaining variables were obtained from the electronic data bases of the World Bank. The results of the NARDL model indicate that a positive change of the real effective exchange rate has a positive and significant effect on the gross domestic product in the long-run, while a negative change of the real effective exchange rate has a negative and significant effect on the gross domestic product in the long-run. In the short-run, the results also behave in the same manner as in the long-run. The study recommends that the real effective exchange rate should not be the only area to look into when trying to improve economic growth in South Africa. Investments must be looked into as well, and South Africa needs more growth desperately.
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- Date Issued: 2019
The impact of unanticipated news announcements by the US Federal Reserve On South African stock returns
- Authors: Sibanda, Lorna
- Date: 2019
- Subjects: Monetary policy -- United States , International finance , South Africa -- Foreign economic relations -- United States , United States -- Foreign economic relations -- South Africa , Banks of issue -- United States , Investments -- South Africa , Stocks -- Prices -- South Africa , Stocks -- Rate of return , Rate of return -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/94703 , vital:31070
- Description: This thesis analyses whether monetary policy announcement shocks are transmitted across countries, with special emphasis on the impact of US Federal Reserve announcements on the South African stock market. Monetary policy is an important source of economic news and affects the risk perceptions of market participants. This study will improve the understanding of stock price determinants and possibly influence SA monetary policy in guarding against possible shocks originating from abroad. Using Federal Reserve Open Market Committee (FOMC) announcements over the period 2008 – 2014, the research studied changes in volatility of the South African FTSE/JSE All Share Index returns over this period. An event study and GARCH model approach was adopted to reach the goals of the analysis. The findings were a statistically insignificant connection between SA stock returns and both anticipated and unanticipated US Federal Reserve announcements. Over the sample period, each shock to SA stock returns persisted for approximately 4-5 months. Although SA stock return volatility demonstrated clustering behaviour (indicating sensitivity to economic shocks), the research could not find an obvious relationship between these spikes in volatility and US Federal Reserve announcements. It is concluded that South African stock returns do not change in response to unexpected US monetary policy announcements.
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- Date Issued: 2019