Factors that make a visit to selected Eastern Cape national parks a memorable experience
- Authors: Baldie, Carole Audrey
- Date: 2018
- Subjects: Tourism -- South Africa -- Eastern Cape , Tourism -- Social aspects -- South Africa -- Eastern Cape Customer relations -- South Africa -- Eastern Cape -- Management Addo Elephant National Park (South Africa)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/21461 , vital:29524
- Description: South African National Parks (SANParks) manages 19 functional national parks (NPs) and oversees the conservation of South Africa’s (SA’s) biodiversity, landscapes and heritage assets. The organisation plays a significant role in the promotion of SA’s nature-based tourism business which in turn forms part of the nation’s heritage and identity. Tourism to SA’s NPs is significant and interest in visiting these parks continues to increase annually, from both international and domestic markets. Three of these NPs are located in the Eastern Cape province, namely Addo Elephant National Park (AENP), Camdeboo National Park (CNP) and Mountain Zebra National Park (MZNP) and were the focus of this study. The main reason for conducting the current study was to establish what factors make visits to the three aforementioned NPs memorable. The findings of this research could be useful to all NPs and assist them in making decisions regarding the evaluation and creation of product offerings that will enhance experiences and make them memorable for tourists. Based on the findings, and because each NP is unique (for example, the different biodiversity and landscapes), the product offerings can also be made exclusive to each NP and therefore tourists can have the opportunity for different MTEs in each park. Providing product offerings that afford MTE opportunities are particularly important for NPs, as government funding is decreasing and each NP needs to generate its own funds. Tourism is presently the economic lifeline for the parks. If NPs focus on improving current products where necessary and developing new products that provide for MTEs, NPs could increase their competitive advantage. Having a competitive advantage can ensure an increase in tourism numbers and therefore the financial sustainability of the park. Data was collected on site at each of the three NPs selected for the study, using convenience sampling to select respondents. A web-based survey was also posted on the SANParks’ website. Prior to the posting of the web-based survey, SANParks conducted a simple random sampling procedure utilising a sampling frame of tourists who had previously visited the respective NPs. The selected target population emanating from simple random sampling was e-mailed the link to the SANParks website which guided respondents to the online questionnaire if they wished to take part in the survey, hence the response sample was a convenience sample. In total, 463 usable questionnaires were received. Descriptive statistics resulted from the data analysis. A frequency analysis showed the distribution of the results, while an exploratory factors analysis (EFA) was conducted to ascertain any latent factors in the data. The results of the EFA showed the presence of three latent factors which were labelled Pleasure, Social Interaction and Discovery and Enrichment. Firstly, a strong positive correlation was shown between two of the factors, namely Pleasure and Discovery and Enrichment, and secondly, a positive correlation between two other factors, namely Social Interaction and Discovery and Enrichment was indicated. A weak correlation was shown between the factors Pleasure and Social Interaction. This research has contributed to the knowledge base regarding the factors that make a visit to AENP, CNP and MZNP memorable. Future research can make use of these factors for more exhaustive research in a wider range of NPs.
- Full Text:
- Date Issued: 2018
- Authors: Baldie, Carole Audrey
- Date: 2018
- Subjects: Tourism -- South Africa -- Eastern Cape , Tourism -- Social aspects -- South Africa -- Eastern Cape Customer relations -- South Africa -- Eastern Cape -- Management Addo Elephant National Park (South Africa)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/21461 , vital:29524
- Description: South African National Parks (SANParks) manages 19 functional national parks (NPs) and oversees the conservation of South Africa’s (SA’s) biodiversity, landscapes and heritage assets. The organisation plays a significant role in the promotion of SA’s nature-based tourism business which in turn forms part of the nation’s heritage and identity. Tourism to SA’s NPs is significant and interest in visiting these parks continues to increase annually, from both international and domestic markets. Three of these NPs are located in the Eastern Cape province, namely Addo Elephant National Park (AENP), Camdeboo National Park (CNP) and Mountain Zebra National Park (MZNP) and were the focus of this study. The main reason for conducting the current study was to establish what factors make visits to the three aforementioned NPs memorable. The findings of this research could be useful to all NPs and assist them in making decisions regarding the evaluation and creation of product offerings that will enhance experiences and make them memorable for tourists. Based on the findings, and because each NP is unique (for example, the different biodiversity and landscapes), the product offerings can also be made exclusive to each NP and therefore tourists can have the opportunity for different MTEs in each park. Providing product offerings that afford MTE opportunities are particularly important for NPs, as government funding is decreasing and each NP needs to generate its own funds. Tourism is presently the economic lifeline for the parks. If NPs focus on improving current products where necessary and developing new products that provide for MTEs, NPs could increase their competitive advantage. Having a competitive advantage can ensure an increase in tourism numbers and therefore the financial sustainability of the park. Data was collected on site at each of the three NPs selected for the study, using convenience sampling to select respondents. A web-based survey was also posted on the SANParks’ website. Prior to the posting of the web-based survey, SANParks conducted a simple random sampling procedure utilising a sampling frame of tourists who had previously visited the respective NPs. The selected target population emanating from simple random sampling was e-mailed the link to the SANParks website which guided respondents to the online questionnaire if they wished to take part in the survey, hence the response sample was a convenience sample. In total, 463 usable questionnaires were received. Descriptive statistics resulted from the data analysis. A frequency analysis showed the distribution of the results, while an exploratory factors analysis (EFA) was conducted to ascertain any latent factors in the data. The results of the EFA showed the presence of three latent factors which were labelled Pleasure, Social Interaction and Discovery and Enrichment. Firstly, a strong positive correlation was shown between two of the factors, namely Pleasure and Discovery and Enrichment, and secondly, a positive correlation between two other factors, namely Social Interaction and Discovery and Enrichment was indicated. A weak correlation was shown between the factors Pleasure and Social Interaction. This research has contributed to the knowledge base regarding the factors that make a visit to AENP, CNP and MZNP memorable. Future research can make use of these factors for more exhaustive research in a wider range of NPs.
- Full Text:
- Date Issued: 2018
Analysis of the existence of the Phillips curve, Okun’s law and Taylor rule in the Zambian economy
- Authors: Chella, Siame Nampasa
- Date: 2020
- Subjects: Unemployment -- Effect of inflation -- Mathematical models --Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49783 , vital:41800
- Description: The objective for this study was to explore the relationship between inflation and growth with an understanding of the effects of unemployment on growth. The primary objective of this paper was to investigate the existence of Phillips Curve, Okun’s Law, and Taylor Rule in Zambia on the basis that Zambia is a youthful economy, with a growing population, which is expected to temper with unemployment rates, as an increase in the supply of labour might be too high for the demand for jobs available. To be specific, the study aims at determining the relationship between inflation and growth and seeks to understand what policy measures have been undertaken to curb inflation and reduce unemployment in Zambia. To achieve this, a quantitative research was undertaken using the ARDL cointegration model in conjunction with sensitivity tests to cater for structural changes in the economy with 2007 standing as the break point, as well as paying attention to the fact that different policy regimes employed during the course of the data covered, that being, 1996 to 2017, would affect that rates of unemployment, inflation and growth of the country, across period under review. The study revealed that Zambia faces a Hybrid New Keynesian Phillips Curve during the period under study which is dominated by a mixture of both back-ward and forward-looking aspects of inflation. This specifically, paints the effects of inflation persistence as well future expectations of inflation on growth. Further, a cointegration relationship was established between unemployment and output, while Taylor principles were found not to apply to the Zambian economy, which have proved in other economies to be foundation blocks for good economic growth and as such significant to both fiscal and monetary policy authorities of the economy. The researcher therefore recommends that Zambian policy makers, that is, both the fiscal and the monetary authorities, work together in order to attain minimal and optimal levels of inflation to help achieve a conducive economic environment for the country.
- Full Text:
- Date Issued: 2020
- Authors: Chella, Siame Nampasa
- Date: 2020
- Subjects: Unemployment -- Effect of inflation -- Mathematical models --Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49783 , vital:41800
- Description: The objective for this study was to explore the relationship between inflation and growth with an understanding of the effects of unemployment on growth. The primary objective of this paper was to investigate the existence of Phillips Curve, Okun’s Law, and Taylor Rule in Zambia on the basis that Zambia is a youthful economy, with a growing population, which is expected to temper with unemployment rates, as an increase in the supply of labour might be too high for the demand for jobs available. To be specific, the study aims at determining the relationship between inflation and growth and seeks to understand what policy measures have been undertaken to curb inflation and reduce unemployment in Zambia. To achieve this, a quantitative research was undertaken using the ARDL cointegration model in conjunction with sensitivity tests to cater for structural changes in the economy with 2007 standing as the break point, as well as paying attention to the fact that different policy regimes employed during the course of the data covered, that being, 1996 to 2017, would affect that rates of unemployment, inflation and growth of the country, across period under review. The study revealed that Zambia faces a Hybrid New Keynesian Phillips Curve during the period under study which is dominated by a mixture of both back-ward and forward-looking aspects of inflation. This specifically, paints the effects of inflation persistence as well future expectations of inflation on growth. Further, a cointegration relationship was established between unemployment and output, while Taylor principles were found not to apply to the Zambian economy, which have proved in other economies to be foundation blocks for good economic growth and as such significant to both fiscal and monetary policy authorities of the economy. The researcher therefore recommends that Zambian policy makers, that is, both the fiscal and the monetary authorities, work together in order to attain minimal and optimal levels of inflation to help achieve a conducive economic environment for the country.
- Full Text:
- Date Issued: 2020
The influence of organisational culture on organisational commitment of employees in the banking industry
- Authors: Pegram, Carla
- Date: 2017
- Subjects: Corporate culture -- South Africa -- Eastern Cape , Organizational commitment -- South Africa -- Eastern Cape Employee loyalty -- South Africa -- Eastern Cape Banks and banking -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/19684 , vital:28934
- Description: Given the importance of organisational culture on the success of commercial banks, the prevalence of increased employee turnover rates, as well as the challenges that banks face with regard to preventing the loss of employees to its competitors, this study focused on the influence of selected organisational culture factors on the organisational commitment of banking employees. Against this background, the primary objective of this study was to identify and empirically test the influence of selected organisational culture factors on Organisational commitment of employees in the banking industry in the Eastern Cape. An overview of the literature was provided whereby the nature and importance of organisational commitment and organisational culture were described in the context of the banking industry. From the literature it was evident that the organisational culture of a bank has an influence on the organisational commitment of employees. The literature highlighted Involvement of employees (Empowerment of employees, Team orientation and Capacity development of employees), Adaptability (Creating change, Customer focus and Organisational learning), Consistency (Core values, Coordination and integration and Agreement) and Mission (Vision, Goals and objectives and Strategic direction and intent) as the major factors of organisational culture which influence the organisational culture of a business, in this case a commercial bank. These factors of organisational culture formed the main focus of this study. A positivistic research paradigm and quantitative research methodology were adopted for this study and a descriptive research approach was used. The primary data collection procedures involved selecting the population, the sample, sampling techniques, as well as the sample size. For the purpose of this study, the population consisted of all banking employees of the selected commercial bank within the borders of the Eastern Cape province. The sample size in this study consisted of 700 banking employees. A survey was undertaken and a structured, self-administered questionnaire was used in order to gather the necessary data. The measuring instrument used was based on an existing questionnaire used in previous research. Where necessary the items were reworded to suit this study. A total of 700 questionnaires were distributed, which resulted in 336 usable questionnaires. Thus, an effective response rate of 49.43% was achieved. The reliability of the ordinal scales of the measuring instrument was confirmed by means of the calculation of Cronbach‟s alpha coefficients, whereby coefficients greater than 0.6 were deemed to be reliable. Cronbach‟s alpha coefficients of greater than 0.6 were returned for all the factors measured using ordinal scales, thus satisfactory evidence of reliability were provided. The validity of the ordinal scales of the measuring instrument was confirmed by means of a Confirmatory Factor Analysis (CFA). Items originally intended to measure the constructs under investigation did not all load as expected. One item measuring each of the factors, namely, Empowerment of employees, Creating change, Organisational learning, Agreement, and Coordination and integration, did not load as expected and was thus excluded from further statistical analyses. The operationalisation for these factors was amended accordingly. The items measuring each of the remaining constructs, namely, Organisational commitment, Team orientation, Capacity development of employees, Customer focus, Core values, Vision, Goals and objectives, and Strategic direction and intent, all loaded as expected. The sample data was summarised using descriptive statistics. In addition, t-tests were used to determine whether the differences in mean scores returned by the demographic variable Gender and the independent and dependent variables under investigation, were significantly different from each other. Pearson‟s Product Moment Correlations coefficients were used to assess the associations between the variables under investigation. A Multiple Regression Analysis (MRA) was undertaken to measure the relationships between the independent variable and the dependent variables investigated in this study. Lastly, the relationships between the demographic variables and the dependent and independent variables were tested by means of an Analysis of Variance (ANOVA). The dependent variable Organisational commitment returned a mean score of 6.11, with the majority of banking employees agreeing that they are highly committed to the bank and feel a strong personal connection towards the bank, would recommend working at this bank to others, would find it difficult to leave and would continue to work for the bank out of choice rather than necessity. The independent variables investigated returned mean scores of between 6.05 (Coordination and integration) and 6.32 (Strategic direction and intent) with most respondents agreeing that the conditions or relationships investigated existed within the bank in which they worked. The results of the MRA reported significant positive linear relationships between Empowerment of employees, Capacity development of employees, Coordination and integration and Strategic direction and intent, and the dependent variable Organisational commitment. Furthermore, a significant negative linear relationship between Core values and the dependent variable Organisational commitment were reported. No significant linear relationships emerged between the remaining independent variables, namely, Team orientation, Creating change, Customer focus, Organisational learning, Agreement, Vision and Goals objectives, and the dependent variable Organisational commitment. The results of the ANOVA reported various significant relationships between the demographic variables and the dependent and independent variables investigated in the study. Based on the findings of this study, numerous recommendations were proposed to assist managers of banks to ultimately improve the organisational commitment of employees by adopting and encouraging certain behaviours in terms of the organisational culture of the bank. The findings of this study showed that by focusing on Empowerment of employees, Capacity development of employees, Coordination and integration and Strategic direction and intent, banks can enhance the organisational commitment of their employees. It is hoped that the findings of this study will provide bank managers with practical suggestions on how to use these organisational culture factors to improve organisational commitment among employees, and that the suggestions for future research will inspire future researchers to continue investigating the organisational culture factors in banks.
- Full Text:
- Date Issued: 2017
- Authors: Pegram, Carla
- Date: 2017
- Subjects: Corporate culture -- South Africa -- Eastern Cape , Organizational commitment -- South Africa -- Eastern Cape Employee loyalty -- South Africa -- Eastern Cape Banks and banking -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/19684 , vital:28934
- Description: Given the importance of organisational culture on the success of commercial banks, the prevalence of increased employee turnover rates, as well as the challenges that banks face with regard to preventing the loss of employees to its competitors, this study focused on the influence of selected organisational culture factors on the organisational commitment of banking employees. Against this background, the primary objective of this study was to identify and empirically test the influence of selected organisational culture factors on Organisational commitment of employees in the banking industry in the Eastern Cape. An overview of the literature was provided whereby the nature and importance of organisational commitment and organisational culture were described in the context of the banking industry. From the literature it was evident that the organisational culture of a bank has an influence on the organisational commitment of employees. The literature highlighted Involvement of employees (Empowerment of employees, Team orientation and Capacity development of employees), Adaptability (Creating change, Customer focus and Organisational learning), Consistency (Core values, Coordination and integration and Agreement) and Mission (Vision, Goals and objectives and Strategic direction and intent) as the major factors of organisational culture which influence the organisational culture of a business, in this case a commercial bank. These factors of organisational culture formed the main focus of this study. A positivistic research paradigm and quantitative research methodology were adopted for this study and a descriptive research approach was used. The primary data collection procedures involved selecting the population, the sample, sampling techniques, as well as the sample size. For the purpose of this study, the population consisted of all banking employees of the selected commercial bank within the borders of the Eastern Cape province. The sample size in this study consisted of 700 banking employees. A survey was undertaken and a structured, self-administered questionnaire was used in order to gather the necessary data. The measuring instrument used was based on an existing questionnaire used in previous research. Where necessary the items were reworded to suit this study. A total of 700 questionnaires were distributed, which resulted in 336 usable questionnaires. Thus, an effective response rate of 49.43% was achieved. The reliability of the ordinal scales of the measuring instrument was confirmed by means of the calculation of Cronbach‟s alpha coefficients, whereby coefficients greater than 0.6 were deemed to be reliable. Cronbach‟s alpha coefficients of greater than 0.6 were returned for all the factors measured using ordinal scales, thus satisfactory evidence of reliability were provided. The validity of the ordinal scales of the measuring instrument was confirmed by means of a Confirmatory Factor Analysis (CFA). Items originally intended to measure the constructs under investigation did not all load as expected. One item measuring each of the factors, namely, Empowerment of employees, Creating change, Organisational learning, Agreement, and Coordination and integration, did not load as expected and was thus excluded from further statistical analyses. The operationalisation for these factors was amended accordingly. The items measuring each of the remaining constructs, namely, Organisational commitment, Team orientation, Capacity development of employees, Customer focus, Core values, Vision, Goals and objectives, and Strategic direction and intent, all loaded as expected. The sample data was summarised using descriptive statistics. In addition, t-tests were used to determine whether the differences in mean scores returned by the demographic variable Gender and the independent and dependent variables under investigation, were significantly different from each other. Pearson‟s Product Moment Correlations coefficients were used to assess the associations between the variables under investigation. A Multiple Regression Analysis (MRA) was undertaken to measure the relationships between the independent variable and the dependent variables investigated in this study. Lastly, the relationships between the demographic variables and the dependent and independent variables were tested by means of an Analysis of Variance (ANOVA). The dependent variable Organisational commitment returned a mean score of 6.11, with the majority of banking employees agreeing that they are highly committed to the bank and feel a strong personal connection towards the bank, would recommend working at this bank to others, would find it difficult to leave and would continue to work for the bank out of choice rather than necessity. The independent variables investigated returned mean scores of between 6.05 (Coordination and integration) and 6.32 (Strategic direction and intent) with most respondents agreeing that the conditions or relationships investigated existed within the bank in which they worked. The results of the MRA reported significant positive linear relationships between Empowerment of employees, Capacity development of employees, Coordination and integration and Strategic direction and intent, and the dependent variable Organisational commitment. Furthermore, a significant negative linear relationship between Core values and the dependent variable Organisational commitment were reported. No significant linear relationships emerged between the remaining independent variables, namely, Team orientation, Creating change, Customer focus, Organisational learning, Agreement, Vision and Goals objectives, and the dependent variable Organisational commitment. The results of the ANOVA reported various significant relationships between the demographic variables and the dependent and independent variables investigated in the study. Based on the findings of this study, numerous recommendations were proposed to assist managers of banks to ultimately improve the organisational commitment of employees by adopting and encouraging certain behaviours in terms of the organisational culture of the bank. The findings of this study showed that by focusing on Empowerment of employees, Capacity development of employees, Coordination and integration and Strategic direction and intent, banks can enhance the organisational commitment of their employees. It is hoped that the findings of this study will provide bank managers with practical suggestions on how to use these organisational culture factors to improve organisational commitment among employees, and that the suggestions for future research will inspire future researchers to continue investigating the organisational culture factors in banks.
- Full Text:
- Date Issued: 2017
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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- Date Issued: 2019
Effects of economic growth on greenhouse emissions
- Mkunyana, Asebenzile Priscilla
- Authors: Mkunyana, Asebenzile Priscilla
- Date: 2020
- Subjects: Greenhouse gases -- Environmental aspects -- Africa , Climate change mitigation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50404 , vital:42162
- Description: This study employs the panel cointegration and Pooled Mean Group technique to examine the effects of economic growth on greenhouse emissions using the panel data from the period of 1970 to 2014 for five Southern African Development Community group of countries. The increase in the combustion of burning fossil fuels has become the global threat in environmental quality. The Environmental Kuznets Curve hypothesis postulates that at the primary stages of industrial economies there is more extracting of natural resources and more agricultural activities taking place as a result the waste generation and resource depletion accelerate. However, as the economic development improves more, the curve reaches a threshold where it starts to decline due to the increase in economic growth and the change to information-based industries. Based on the empirical evidence, the variables of this study were found to be stationary at first difference and integrated of I(0) and I(1) using Im, Pesaran & Shin W-stat, Fisher ADF, and Levin, Lin & Chu panel unit root test. The existing long-run relationship between the variables were found in both the Pedroni and Kao cointegration test and were significant at 5% in finding the relationship between the variables. The Pooled Mean Group demonstrated mixed results in the study’s regressions, monotonic relationship was found between carbon dioxide and economic growth. The strong existence relationship between economic growth and energy consumption was found to be significant at the 1% level. These results are in line with the EKC hypothesis, which assumes that as the income level increases the society will start to be environmentally friendly and the technology advancement will decrease the emission of pollutants. In addition, in finding the causal relationship between variables, the researcher used the Granger causality test, with the results from this test revealing a unidirectional and bidirectional relationship between all the chosen variables. These results are important for policy makers.
- Full Text:
- Date Issued: 2020
- Authors: Mkunyana, Asebenzile Priscilla
- Date: 2020
- Subjects: Greenhouse gases -- Environmental aspects -- Africa , Climate change mitigation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50404 , vital:42162
- Description: This study employs the panel cointegration and Pooled Mean Group technique to examine the effects of economic growth on greenhouse emissions using the panel data from the period of 1970 to 2014 for five Southern African Development Community group of countries. The increase in the combustion of burning fossil fuels has become the global threat in environmental quality. The Environmental Kuznets Curve hypothesis postulates that at the primary stages of industrial economies there is more extracting of natural resources and more agricultural activities taking place as a result the waste generation and resource depletion accelerate. However, as the economic development improves more, the curve reaches a threshold where it starts to decline due to the increase in economic growth and the change to information-based industries. Based on the empirical evidence, the variables of this study were found to be stationary at first difference and integrated of I(0) and I(1) using Im, Pesaran & Shin W-stat, Fisher ADF, and Levin, Lin & Chu panel unit root test. The existing long-run relationship between the variables were found in both the Pedroni and Kao cointegration test and were significant at 5% in finding the relationship between the variables. The Pooled Mean Group demonstrated mixed results in the study’s regressions, monotonic relationship was found between carbon dioxide and economic growth. The strong existence relationship between economic growth and energy consumption was found to be significant at the 1% level. These results are in line with the EKC hypothesis, which assumes that as the income level increases the society will start to be environmentally friendly and the technology advancement will decrease the emission of pollutants. In addition, in finding the causal relationship between variables, the researcher used the Granger causality test, with the results from this test revealing a unidirectional and bidirectional relationship between all the chosen variables. These results are important for policy makers.
- Full Text:
- Date Issued: 2020
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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- 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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- Date Issued: 2019
Determining the effects of debt-to-GDP ratio on the economic growth of Greece, Italy and South Africa
- Mowoe, Merioboroghene Oreoluwa
- 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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- 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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- Date Issued: 2019
A critical analysis of the South African Revenue Service (SARS) dispute resolution process
- Authors: Olivier, Carl Hendré
- Date: 2018
- Subjects: South African Revenue Service , Conflict management Civil procedure -- Trials, litigation, etc Dispute resolution (Law) -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23011 , vital:30294
- Description: The SARS dispute resolution process was developed to ensure disputes are resolved in a constitutional manner (i.e. fair, accountable and efficient). The aim of this study was to investigate whether the dispute resolution process adheres to the constitutional requirements as required in terms of section 195 of the Constitution. The study summarised the rules of the dispute process in the various stages (i.e. assessment / discovery stage, objection stage, appeal stage and the litigation stage). The litigation stage was considered to be out of the scope for the study. Using the summary, the significant processes were identified based on set criteria for detailed analysis. The significant processes identified were:Prescribed form and manner, date of delivery and objection against an assessment and extension of time periods, Reasons for assessment, Appeal against rejection of an objection Each of the significant processes was analysed in detail by considering the treatment of the processes in various cases in the courts. Based on the analysis, the following conclusions were reached on the significant processes:Prescribed form and manner, objection against an assessment and extension of time periods – This process was considered to be flawed since the process does not provide for the SARS to be responsible for clerical or processing errors. It was recommended that the taxpayer should not be bound by the set timelines should the SARS issue an assessment which contains clerical or processing errors. It was also noted that there are no set rules when there is evidence of fraud, misrepresentation or non-disclosure of material facts in the case and it was recommended that set rules be included in the rules and the TAA to address the consequences, prescription period and processes surrounding cases where fraud, misrepresentation or non-disclosure of material facts is present. Reasons for assessment – The process was considered to be adequate, however it was recommended that the process be improved by including a set criteria for the SARS to comply with when providing reasons for an assessment to the taxpayer., Appeal against rejection of an objection – The process was considered to be adequate. Based on the findings, the conclusion was drawn that the dispute resolution process is considered to be adequate and constitutional with some reservations.
- Full Text:
- Date Issued: 2018
- Authors: Olivier, Carl Hendré
- Date: 2018
- Subjects: South African Revenue Service , Conflict management Civil procedure -- Trials, litigation, etc Dispute resolution (Law) -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23011 , vital:30294
- Description: The SARS dispute resolution process was developed to ensure disputes are resolved in a constitutional manner (i.e. fair, accountable and efficient). The aim of this study was to investigate whether the dispute resolution process adheres to the constitutional requirements as required in terms of section 195 of the Constitution. The study summarised the rules of the dispute process in the various stages (i.e. assessment / discovery stage, objection stage, appeal stage and the litigation stage). The litigation stage was considered to be out of the scope for the study. Using the summary, the significant processes were identified based on set criteria for detailed analysis. The significant processes identified were:Prescribed form and manner, date of delivery and objection against an assessment and extension of time periods, Reasons for assessment, Appeal against rejection of an objection Each of the significant processes was analysed in detail by considering the treatment of the processes in various cases in the courts. Based on the analysis, the following conclusions were reached on the significant processes:Prescribed form and manner, objection against an assessment and extension of time periods – This process was considered to be flawed since the process does not provide for the SARS to be responsible for clerical or processing errors. It was recommended that the taxpayer should not be bound by the set timelines should the SARS issue an assessment which contains clerical or processing errors. It was also noted that there are no set rules when there is evidence of fraud, misrepresentation or non-disclosure of material facts in the case and it was recommended that set rules be included in the rules and the TAA to address the consequences, prescription period and processes surrounding cases where fraud, misrepresentation or non-disclosure of material facts is present. Reasons for assessment – The process was considered to be adequate, however it was recommended that the process be improved by including a set criteria for the SARS to comply with when providing reasons for an assessment to the taxpayer., Appeal against rejection of an objection – The process was considered to be adequate. Based on the findings, the conclusion was drawn that the dispute resolution process is considered to be adequate and constitutional with some reservations.
- Full Text:
- Date Issued: 2018
Determining the effect of ocean proximity on residential property prices in Port Elizabeth
- Authors: Hibbers, Vicky
- Date: 2018
- Subjects: Prices -- South Africa -- Port Elizabeth -- Mathematical models , Real property -- Prices -- South Africa -- Port Elizabeth Real estate management -- Prices -- South Africa -- Port Elizabeth Real property -- Valuation -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/22204 , vital:29874
- Description: Economic contribution studies, including those from a maritime perspective, are of great interest to both governmental and non-governmental organisations, as well as researchers. This interest stems from the increased pressure on land-based resources, and it is expected that this interest in maritime economics will increase (Hosking, Lee, Kaczynsky, Hosking, du Preez and Haines, 2014). A few studies have been undertaken in order to investigate the ocean’s economic contribution in South Africa (Hosking et al., 2014). However, there are other, often overlooked, benefits that the ocean may bring to localised economies, namely its contribution to residential property markets. Over the last decade, this area of research has received considerable international attention (Rinehart and Pompe, 1994; Rush and Briggink, 2000; Taylor and Smith, 2000; Boarnet and Chalermpong, 2001; Major and Lusht, 2004; Conroy and Milosch, 2009; Scorse, Reynolds and Sackett, 2015). The studies revealed the existence of an ocean premium, which is an additional amount added to the value of a home due to it being located near the ocean. However, from a South African perspective, there is a lack of studies in this area. This study seeks to contribute to the body of knowledge by determining the effect of ocean proximity on property prices in Summerstrand, a suburb in Port Elizabeth. The hedonic price model is applied in this regard. A sample size of 104 properties was used for the study, and the various characteristics of the properties obtained from multiple sources. Most importantly, sales prices were obtained from the South African Property Transfer Guide (SAPTG). As the houses were sold in different time periods, it was necessary to adjust the prices to constant 2016 rands. The ABSA house price index was used for this, in order to account for any inflationary changes over the various periods. The results of the study revealed that proximity to the ocean had a statistically significant positive effect on adjacent residential property prices in Summerstrand, Port Elizabeth. More specifically, proximity to the ocean is valued at between R133.35 and R329.59 per meter closer to the ocean. From a policy perspective, quantifying this coastal premium in Port Elizabeth may encourage the continued conservation of marine resources within Nelson Mandela Bay. Various studies have shown the positive impact conservation has on property prices, resulting in significant premiums being attached to housing prices, even when property characteristics changed (Leeson, 2012; Chamblee, Colwell, Dehring and Depken, 2011). Economic analysis, which includes hedonic pricing, has also had an impact on the evaluation of environmental policies, with Government agencies being the first to fund studies in order to determine the effects of various externalities on housing prices. On the other hand, litigation has had an even more significant impact on policies, due to it being more tangible evidence (Palmquist and Smith, 2001). The manner in which government, and other bodies, assess and measure property values can also be improved upon. Through the separation of housing characteristics, the true value of the property can be determined. This can result in improved accuracy of property tax calculations, and a more accurate value of future developments (Gilbert, 2013). This can help ensure no unnecessary cost expenditure by both government, and property developers, especially considering the volatile nature of the housing market (Gilbert, 2013). The results of this dissertation are subject to two important qualifications. Firstly, the study does not account for the imperfect information that might be present in the market. Secondly, the relatively small sample size could limit the results.
- Full Text:
- Date Issued: 2018
- Authors: Hibbers, Vicky
- Date: 2018
- Subjects: Prices -- South Africa -- Port Elizabeth -- Mathematical models , Real property -- Prices -- South Africa -- Port Elizabeth Real estate management -- Prices -- South Africa -- Port Elizabeth Real property -- Valuation -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/22204 , vital:29874
- Description: Economic contribution studies, including those from a maritime perspective, are of great interest to both governmental and non-governmental organisations, as well as researchers. This interest stems from the increased pressure on land-based resources, and it is expected that this interest in maritime economics will increase (Hosking, Lee, Kaczynsky, Hosking, du Preez and Haines, 2014). A few studies have been undertaken in order to investigate the ocean’s economic contribution in South Africa (Hosking et al., 2014). However, there are other, often overlooked, benefits that the ocean may bring to localised economies, namely its contribution to residential property markets. Over the last decade, this area of research has received considerable international attention (Rinehart and Pompe, 1994; Rush and Briggink, 2000; Taylor and Smith, 2000; Boarnet and Chalermpong, 2001; Major and Lusht, 2004; Conroy and Milosch, 2009; Scorse, Reynolds and Sackett, 2015). The studies revealed the existence of an ocean premium, which is an additional amount added to the value of a home due to it being located near the ocean. However, from a South African perspective, there is a lack of studies in this area. This study seeks to contribute to the body of knowledge by determining the effect of ocean proximity on property prices in Summerstrand, a suburb in Port Elizabeth. The hedonic price model is applied in this regard. A sample size of 104 properties was used for the study, and the various characteristics of the properties obtained from multiple sources. Most importantly, sales prices were obtained from the South African Property Transfer Guide (SAPTG). As the houses were sold in different time periods, it was necessary to adjust the prices to constant 2016 rands. The ABSA house price index was used for this, in order to account for any inflationary changes over the various periods. The results of the study revealed that proximity to the ocean had a statistically significant positive effect on adjacent residential property prices in Summerstrand, Port Elizabeth. More specifically, proximity to the ocean is valued at between R133.35 and R329.59 per meter closer to the ocean. From a policy perspective, quantifying this coastal premium in Port Elizabeth may encourage the continued conservation of marine resources within Nelson Mandela Bay. Various studies have shown the positive impact conservation has on property prices, resulting in significant premiums being attached to housing prices, even when property characteristics changed (Leeson, 2012; Chamblee, Colwell, Dehring and Depken, 2011). Economic analysis, which includes hedonic pricing, has also had an impact on the evaluation of environmental policies, with Government agencies being the first to fund studies in order to determine the effects of various externalities on housing prices. On the other hand, litigation has had an even more significant impact on policies, due to it being more tangible evidence (Palmquist and Smith, 2001). The manner in which government, and other bodies, assess and measure property values can also be improved upon. Through the separation of housing characteristics, the true value of the property can be determined. This can result in improved accuracy of property tax calculations, and a more accurate value of future developments (Gilbert, 2013). This can help ensure no unnecessary cost expenditure by both government, and property developers, especially considering the volatile nature of the housing market (Gilbert, 2013). The results of this dissertation are subject to two important qualifications. Firstly, the study does not account for the imperfect information that might be present in the market. Secondly, the relatively small sample size could limit the results.
- Full Text:
- Date Issued: 2018
A critical analysis of the provisions taxing maintenance payments in terms of the South African income tax legislation
- Authors: Zulu, Nkosinathi
- Date: 2018
- Subjects: Income tax -- Law and legislation -- South Africa , Income tax -- South Africa Tax planning -- South Africa Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/35885 , vital:33856
- Description: The tax implications of contributions towards maintenance are not always clear to a typical taxpayer. The duty of support is often the driving force behind the contributions made. Donations, payments made by ‘Blessors’, and child maintenance are fundamental objects of attention in this study, although all maintenance payments are considered from a tax perspective with reference to the Income Tax Act No 58 of 1962. The main aim of the study was to illustrate and analyse the interaction of the rules governing the taxation of maintenance payments. Tax abuse was assessed in relation to the anti-avoidance provisions in effect in the legislation. The results were benchmarked against data relating to Australia. In the social context, a fundamental difference in the systems was observed, and the Australian provision may be considered for possible adoption in South Africa. In the context of tax per se, the study found that the operation of the attribution rules in the provisions in South African tax law pertaining to the taxation of child maintenance renders the provisions adequate.
- Full Text:
- Date Issued: 2018
- Authors: Zulu, Nkosinathi
- Date: 2018
- Subjects: Income tax -- Law and legislation -- South Africa , Income tax -- South Africa Tax planning -- South Africa Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/35885 , vital:33856
- Description: The tax implications of contributions towards maintenance are not always clear to a typical taxpayer. The duty of support is often the driving force behind the contributions made. Donations, payments made by ‘Blessors’, and child maintenance are fundamental objects of attention in this study, although all maintenance payments are considered from a tax perspective with reference to the Income Tax Act No 58 of 1962. The main aim of the study was to illustrate and analyse the interaction of the rules governing the taxation of maintenance payments. Tax abuse was assessed in relation to the anti-avoidance provisions in effect in the legislation. The results were benchmarked against data relating to Australia. In the social context, a fundamental difference in the systems was observed, and the Australian provision may be considered for possible adoption in South Africa. In the context of tax per se, the study found that the operation of the attribution rules in the provisions in South African tax law pertaining to the taxation of child maintenance renders the provisions adequate.
- Full Text:
- Date Issued: 2018
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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- Date Issued: 2019
Substance over form in the context of general anti-avoidance provisions in the income tax act
- Authors: Saba, Ncumisa
- Date: 2018
- Subjects: Income tax -- Law and legislation -- South Africa , Tax evasion -- South Africa Tax planning -- South Africa Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/35049 , vital:33610
- Description: The provisions of GAAR are contained in sections 80A to 80L of the Income Tax Act 58 of 1962. The main objective of the GAAR is to prohibit impermissible tax avoidance. One of the main purposes of the GAAR is to identify the true nature of a transaction and therefore the provisions of the GAAR focus on the substance of the transaction rather than its form. There can be however difficulty in determining the true substance of a transaction and the intention of the taxpayer when applying the substance over form principle. The substance over form principle is not defined in the GAAR, therefore it is critical that an understanding of this principle is obtained. The purpose of the research was to critically analyse the principle of substance over form in the context of the GAAR. This analysis assessed whether the GAAR is able to effectively identify substance over form in complex tax avoidance arrangements that have been formulated by the taxpayer. The GAAR has provided the Commissioner which tests to apply in order to identify the substance of the transaction over its form and its seeks to remove the façade that is created by tax avoidance schemes however it was submitted that there were areas of the GAAR that require improvement in order to ensure transparency and consistent application of the GAAR. The research also analysed the tests applied by the courts in determining substance over form in different instances. It was determined that the courts apply the abnormality test and the lack of commercial purpose test when determining the substance of a transaction. A contrast of the principles applied the GAAR and the courts was also performed in order to ascertain whether there are any similarities and/or differences when determining the substance of a transaction. It was determined that the principles of the GAAR are not vastly different to the principles applied by the case law when determining substance of a transaction. In order to for the GAAR to be effective in determining substance of a transaction, it will have to be used with reference to case law.
- Full Text:
- Date Issued: 2018
- Authors: Saba, Ncumisa
- Date: 2018
- Subjects: Income tax -- Law and legislation -- South Africa , Tax evasion -- South Africa Tax planning -- South Africa Taxation -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/35049 , vital:33610
- Description: The provisions of GAAR are contained in sections 80A to 80L of the Income Tax Act 58 of 1962. The main objective of the GAAR is to prohibit impermissible tax avoidance. One of the main purposes of the GAAR is to identify the true nature of a transaction and therefore the provisions of the GAAR focus on the substance of the transaction rather than its form. There can be however difficulty in determining the true substance of a transaction and the intention of the taxpayer when applying the substance over form principle. The substance over form principle is not defined in the GAAR, therefore it is critical that an understanding of this principle is obtained. The purpose of the research was to critically analyse the principle of substance over form in the context of the GAAR. This analysis assessed whether the GAAR is able to effectively identify substance over form in complex tax avoidance arrangements that have been formulated by the taxpayer. The GAAR has provided the Commissioner which tests to apply in order to identify the substance of the transaction over its form and its seeks to remove the façade that is created by tax avoidance schemes however it was submitted that there were areas of the GAAR that require improvement in order to ensure transparency and consistent application of the GAAR. The research also analysed the tests applied by the courts in determining substance over form in different instances. It was determined that the courts apply the abnormality test and the lack of commercial purpose test when determining the substance of a transaction. A contrast of the principles applied the GAAR and the courts was also performed in order to ascertain whether there are any similarities and/or differences when determining the substance of a transaction. It was determined that the principles of the GAAR are not vastly different to the principles applied by the case law when determining substance of a transaction. In order to for the GAAR to be effective in determining substance of a transaction, it will have to be used with reference to case law.
- Full Text:
- Date Issued: 2018
The effects of monetary policy on output and unemployment
- Authors: Mkhombo, Thabo
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Monetary policy -- South Africa Unemployment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32783 , vital:32360
- Description: Following the global financial crisis of 2007 and the ensuing global recessionary of 2009, most economies have been concerned with improving economic growth levels as well as lowering levels of unemployment rates. For the case of South Africa, much concern has been placed on the ability of monetary authorities to contribute to such macroeconomics objectives. therefore the primary objective of the study was to investigate the influence of the monetary policy conduct on economic growth and unemployment.
- Full Text: false
- Date Issued: 2018
- Authors: Mkhombo, Thabo
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Monetary policy -- South Africa Unemployment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32783 , vital:32360
- Description: Following the global financial crisis of 2007 and the ensuing global recessionary of 2009, most economies have been concerned with improving economic growth levels as well as lowering levels of unemployment rates. For the case of South Africa, much concern has been placed on the ability of monetary authorities to contribute to such macroeconomics objectives. therefore the primary objective of the study was to investigate the influence of the monetary policy conduct on economic growth and unemployment.
- Full Text: false
- Date Issued: 2018
The impact of poverty alleviation on sustainable development in South Africa and Uganda
- Authors: Ngonde, Nicholas
- Date: 2018
- Subjects: Sustainable development -- South Africa , Sustainable development -- Uganda Economic development -- South Africa Economic development -- Uganda South Africa -- Economic conditions Uganda -- Economic conditions Poverty -- South Africa Poverty -- Uganda
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/33419 , vital:32852
- Description: The success of a nation is often determined by economic growth which, however, cannot reduce poverty, create jobs and enhance the general standards of living on its own. Therefore, policy makers should focus on policies that are more inclusive and promote sustainable development. Currently, poverty is the greatest threat to the achievement of sustainable development in most regions of the world. This study thus sought to investigate the impact of poverty alleviation on sustainable development in South Africa and Uganda. An Autoregressive Distributed Lags model (ARDL) was used in order to achieve the aim of this study. The variables analysed in this study were: The Human Sustainable Development Index as an indicator of sustainable development, gross national income per capita as an indicator of poverty, as well as life expectancy, expected years of schooling and carbon dioxide emissions (metric tons per capita) for the period during 1990 and 2014. The empirical findings in this study revealed that all the variables share a long run relationship in both countries. These results also showed that, in the long run, a reduction in poverty and an increase in the expected years of schooling had a significant positive impact on sustainable development, while an increase in the carbon dioxide emissions had a negative effect on sustainable development within South Africa. On the other hand, a reduction in poverty and an increase in the expected years of schooling had a positive effect on sustainable development in Uganda in the long run, unlike carbon dioxide emissions that had no effect. Since a cointegrating relationship was found to exist between the variables, an Error Correction Model (ECM) was estimated. The ECM results revealed that, for South Africa, poverty alleviation had no impact on sustainable development in the short run, unlike expected years of schooling and carbon dioxide emissions that had a positive and negative impact, respectively. In Uganda however, poverty alleviation and expected years of schooling had a positive impact on sustainable development unlike carbon dioxide emissions that had no impact. This study thus revealed that poverty alleviation positively influences the level of sustainable development. However, achieving sustainable development does not solely rely on reducing poverty, but requires policy makers to design strategies that are inclusive and encompass the different aspects of sustainable development.
- Full Text:
- Date Issued: 2018
- Authors: Ngonde, Nicholas
- Date: 2018
- Subjects: Sustainable development -- South Africa , Sustainable development -- Uganda Economic development -- South Africa Economic development -- Uganda South Africa -- Economic conditions Uganda -- Economic conditions Poverty -- South Africa Poverty -- Uganda
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/33419 , vital:32852
- Description: The success of a nation is often determined by economic growth which, however, cannot reduce poverty, create jobs and enhance the general standards of living on its own. Therefore, policy makers should focus on policies that are more inclusive and promote sustainable development. Currently, poverty is the greatest threat to the achievement of sustainable development in most regions of the world. This study thus sought to investigate the impact of poverty alleviation on sustainable development in South Africa and Uganda. An Autoregressive Distributed Lags model (ARDL) was used in order to achieve the aim of this study. The variables analysed in this study were: The Human Sustainable Development Index as an indicator of sustainable development, gross national income per capita as an indicator of poverty, as well as life expectancy, expected years of schooling and carbon dioxide emissions (metric tons per capita) for the period during 1990 and 2014. The empirical findings in this study revealed that all the variables share a long run relationship in both countries. These results also showed that, in the long run, a reduction in poverty and an increase in the expected years of schooling had a significant positive impact on sustainable development, while an increase in the carbon dioxide emissions had a negative effect on sustainable development within South Africa. On the other hand, a reduction in poverty and an increase in the expected years of schooling had a positive effect on sustainable development in Uganda in the long run, unlike carbon dioxide emissions that had no effect. Since a cointegrating relationship was found to exist between the variables, an Error Correction Model (ECM) was estimated. The ECM results revealed that, for South Africa, poverty alleviation had no impact on sustainable development in the short run, unlike expected years of schooling and carbon dioxide emissions that had a positive and negative impact, respectively. In Uganda however, poverty alleviation and expected years of schooling had a positive impact on sustainable development unlike carbon dioxide emissions that had no impact. This study thus revealed that poverty alleviation positively influences the level of sustainable development. However, achieving sustainable development does not solely rely on reducing poverty, but requires policy makers to design strategies that are inclusive and encompass the different aspects of sustainable development.
- Full Text:
- Date Issued: 2018
A Social Media Method for Eliciting Millennials’ Worldviews on the Coastal and Marine Environment
- Authors: Okuah, Obrukevwe Anehwe
- Date: 2020
- Subjects: Millennialism -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48588 , vital:40893
- Description: A lack of involvement by participants with traditional data collection methods for research has led to insufficient data regarding millennials’ worldviews on the coastal and marine environment. Understanding millennial worldviews could provide insights for policy interventions for sustainable use of the marine and coastal environment. The aim of this research is to design, develop and evaluate an appropriate social media method to elicit millennials’ worldviews on the coastal and marine environment. The methodology used for the research was Design Science Research (DSR), which is a legitimate approach to conducting research in the field of Information Systems. The methods used were a literature review, interviews with social media experts and Social Media Influencers (SMIs), and a focus group discussion with researchers from the field of social sciences. The proposed artefact (the method) can be used to provide guidance to researchers for engaging and eliciting opinions and worldviews of millennials on social media. The method includes a Social Media Influencer Model that illustrates the relationship between SMIs’ characteristics and techniques for engaging the public, and a Social Media Analytics (SMA) Process model that can guide researchers through the steps of eliciting worldviews from the public. Although there are several SMA techniques that can be used, the proposed method uses sentiment analysis as an SMA technique for deriving sentiments from social media data. The method was evaluated by researchers who require a social media method for eliciting millennials worldviews. The findings confirmed some of the techniques identified in literature as well as some additional techniques and processes. It was also evident that using this method could assist researchers for data collection and specifically to obtain worldviews on the marine and coastal environment. The contribution of this study is an artefact that fulfils the need for a social media method for data collection that is more convenient for researchers and millennials and can guide researchers through the steps of eliciting worldviews from the public.
- Full Text:
- Date Issued: 2020
- Authors: Okuah, Obrukevwe Anehwe
- Date: 2020
- Subjects: Millennialism -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48588 , vital:40893
- Description: A lack of involvement by participants with traditional data collection methods for research has led to insufficient data regarding millennials’ worldviews on the coastal and marine environment. Understanding millennial worldviews could provide insights for policy interventions for sustainable use of the marine and coastal environment. The aim of this research is to design, develop and evaluate an appropriate social media method to elicit millennials’ worldviews on the coastal and marine environment. The methodology used for the research was Design Science Research (DSR), which is a legitimate approach to conducting research in the field of Information Systems. The methods used were a literature review, interviews with social media experts and Social Media Influencers (SMIs), and a focus group discussion with researchers from the field of social sciences. The proposed artefact (the method) can be used to provide guidance to researchers for engaging and eliciting opinions and worldviews of millennials on social media. The method includes a Social Media Influencer Model that illustrates the relationship between SMIs’ characteristics and techniques for engaging the public, and a Social Media Analytics (SMA) Process model that can guide researchers through the steps of eliciting worldviews from the public. Although there are several SMA techniques that can be used, the proposed method uses sentiment analysis as an SMA technique for deriving sentiments from social media data. The method was evaluated by researchers who require a social media method for eliciting millennials worldviews. The findings confirmed some of the techniques identified in literature as well as some additional techniques and processes. It was also evident that using this method could assist researchers for data collection and specifically to obtain worldviews on the marine and coastal environment. The contribution of this study is an artefact that fulfils the need for a social media method for data collection that is more convenient for researchers and millennials and can guide researchers through the steps of eliciting worldviews from the public.
- Full Text:
- Date Issued: 2020
An analysis of systemic risk in the South African banking sector
- Authors: Johnson, Clifford
- Date: 2018
- Subjects: Risk assessment -- South Africa , Finance -- South Africa Banks and banking -- South Africa Financial risk management -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/30551 , vital:30959
- Description: The topic of systemic risk has gained prominence over the last three decades, however, renewed interest and discourse on the subject has increased significantly since the global financial crisis of 2007. This dissertation investigates the impact systemic risk has on the South African banking sector and the externalities borne amongst the largest constituent banks during periods of distress. By means of quantile regression, the delta conditional value at risk (ΔCoVaR) as introduced by Adrian and Brunnermeier (2008), banking institutions are ranked according to their systemic risk contributions at horizontal and vertical levels. Using weekly observations from 25 January 2008 until 28 July 2017, the empirical results reveal that a loose link exists between an individual bank’s risk and its systemic contribution. Furthermore, during periods of distress, larger banks contribute the most to systemic risk of the system. However, horizontally – amongst banks – size does not automatically imply systemic importance. The implications of the results, given the study, highlight that regulation of banks at an individual level does not imply that an institution is operating systemically prudent. Furthermore, regulation of banks is welcomed in order to address systemic risk of an institution; however, regulators should be mindful of the vertical and horizontal aspects of systemic externalities.
- Full Text:
- Date Issued: 2018
- Authors: Johnson, Clifford
- Date: 2018
- Subjects: Risk assessment -- South Africa , Finance -- South Africa Banks and banking -- South Africa Financial risk management -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/30551 , vital:30959
- Description: The topic of systemic risk has gained prominence over the last three decades, however, renewed interest and discourse on the subject has increased significantly since the global financial crisis of 2007. This dissertation investigates the impact systemic risk has on the South African banking sector and the externalities borne amongst the largest constituent banks during periods of distress. By means of quantile regression, the delta conditional value at risk (ΔCoVaR) as introduced by Adrian and Brunnermeier (2008), banking institutions are ranked according to their systemic risk contributions at horizontal and vertical levels. Using weekly observations from 25 January 2008 until 28 July 2017, the empirical results reveal that a loose link exists between an individual bank’s risk and its systemic contribution. Furthermore, during periods of distress, larger banks contribute the most to systemic risk of the system. However, horizontally – amongst banks – size does not automatically imply systemic importance. The implications of the results, given the study, highlight that regulation of banks at an individual level does not imply that an institution is operating systemically prudent. Furthermore, regulation of banks is welcomed in order to address systemic risk of an institution; however, regulators should be mindful of the vertical and horizontal aspects of systemic externalities.
- Full Text:
- Date Issued: 2018
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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- 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.
- Full Text:
- Date Issued: 2019
- 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.
- Full Text:
- Date Issued: 2019