The predictive ability of the yield spread in timing the stock exchange: a South African case
- Authors: Cook, Jenna
- Date: 2020
- Subjects: Stocks -- Mathematical models , Probits , Johannesburg Stock Exchange
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/147025 , vital:38586
- Description: The use of the yield curve in forecasting economic recessions is well established in the literature. A new avenue of use for the yield curve has emerged in the form of using it to forecast bull and bear stock markets. This has the potential to change how investors manage portfolios. A dynamic market-timing strategy would allow investors to shift out of or in to stock markets based on the probability of bear stock market in the future. The relationship between the yield curve and the stock market is tested using an adapted probit model. This has proven positive with encouraging results for the US, India and Spain. This is tested for South Africa using the adapted probit model and the SA yield spread. Bear stock markets are identified on the JSE and forms part of the probit modelling process. Bear markets are identified using a six- and four-month criteria. As South Africa is a small, open and developing economy, the probit is also modelled using the US yield spread. The three probit models do not appear to track bear markets well. This is substantiated through the Henriksson-Merton parametric model test which tests for market timing ability. The results for the SA yield spread using both bear market criteria do not show market timing ability, however, the SA and US yield spread model does show potential market timing ability.
- Full Text:
- Date Issued: 2020
- Authors: Cook, Jenna
- Date: 2020
- Subjects: Stocks -- Mathematical models , Probits , Johannesburg Stock Exchange
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/147025 , vital:38586
- Description: The use of the yield curve in forecasting economic recessions is well established in the literature. A new avenue of use for the yield curve has emerged in the form of using it to forecast bull and bear stock markets. This has the potential to change how investors manage portfolios. A dynamic market-timing strategy would allow investors to shift out of or in to stock markets based on the probability of bear stock market in the future. The relationship between the yield curve and the stock market is tested using an adapted probit model. This has proven positive with encouraging results for the US, India and Spain. This is tested for South Africa using the adapted probit model and the SA yield spread. Bear stock markets are identified on the JSE and forms part of the probit modelling process. Bear markets are identified using a six- and four-month criteria. As South Africa is a small, open and developing economy, the probit is also modelled using the US yield spread. The three probit models do not appear to track bear markets well. This is substantiated through the Henriksson-Merton parametric model test which tests for market timing ability. The results for the SA yield spread using both bear market criteria do not show market timing ability, however, the SA and US yield spread model does show potential market timing ability.
- Full Text:
- Date Issued: 2020
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
A framework for supplier selection in the Nelson Mandela Bay retail industry
- Authors: Mavela, A
- Date: 2020
- Subjects: Business logistics -- South Africa -- Nelson Mandela Bay Municipality
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48905 , vital:41169
- Description: The success of business firms operating in the retail industry is largely dependent on the performance rendered by their supply base. Choosing the incorrect supplier could have dire consequences for the retailer’s performance, as suppliers are generally considered an extension of the retailer. Organisations base their operational expertise on the key performance objectives of cost, service, quality, speed, dependability and flexibility, which becomes the basis of their selection criteria when evaluating suppliers. The primary objective of this study was to develop a framework that guides retailers in their supplier selection process with the ultimate goal of formulating strategies to improve Nelson Mandela Bay’s (NMB’s) retail performance. In support of the primary objective, it was necessary to identify the current supplier selection criteria used in the NMB retail industry and the challenges that retailers face when selecting suppliers. The study set out to assess the effects of utilising established supplier selection criteria on retailers’ performance, as well as to identify strategies that retailers should employ to improve their performance. A quantitative research approach was utilised to collect data from a sample of 248 retailers and procurement and logistics managers. The empirical findings of the study identified flexibility, timeous delivery and reliability as the most important supplier selection criteria identified by retailers in NMB. The findings also revealed that utilising established supplier selection criteria has a significantly positive effect on retailers’ performance. Lack of collaboration between suppliers and retailers, lack of transparency between suppliers and retailers and suppliers’ limited knowledge of the criteria by which they are judged were identified as the most significant challenges facing retailers in NMB. The empirical findings also identified an increase in a retailer’s competitive advantage and revenue as the benefits of utilising supplier selection criteria to improve a retailer’s performance. The conclusions and implications of the empirical findings are provided and recommendations made. The study advances a framework to assist in guiding the retailers and procurement and logistics managers, retail researchers and policy makers when selecting suppliers. The study suggests that retailers should identify the most important supplier selection criteria, inform potential suppliers of the importance v of those criteria, select suppliers based on those criteria and utilise those criteria to evaluate the suppliers’ performance.
- Full Text:
- Date Issued: 2020
- Authors: Mavela, A
- Date: 2020
- Subjects: Business logistics -- South Africa -- Nelson Mandela Bay Municipality
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48905 , vital:41169
- Description: The success of business firms operating in the retail industry is largely dependent on the performance rendered by their supply base. Choosing the incorrect supplier could have dire consequences for the retailer’s performance, as suppliers are generally considered an extension of the retailer. Organisations base their operational expertise on the key performance objectives of cost, service, quality, speed, dependability and flexibility, which becomes the basis of their selection criteria when evaluating suppliers. The primary objective of this study was to develop a framework that guides retailers in their supplier selection process with the ultimate goal of formulating strategies to improve Nelson Mandela Bay’s (NMB’s) retail performance. In support of the primary objective, it was necessary to identify the current supplier selection criteria used in the NMB retail industry and the challenges that retailers face when selecting suppliers. The study set out to assess the effects of utilising established supplier selection criteria on retailers’ performance, as well as to identify strategies that retailers should employ to improve their performance. A quantitative research approach was utilised to collect data from a sample of 248 retailers and procurement and logistics managers. The empirical findings of the study identified flexibility, timeous delivery and reliability as the most important supplier selection criteria identified by retailers in NMB. The findings also revealed that utilising established supplier selection criteria has a significantly positive effect on retailers’ performance. Lack of collaboration between suppliers and retailers, lack of transparency between suppliers and retailers and suppliers’ limited knowledge of the criteria by which they are judged were identified as the most significant challenges facing retailers in NMB. The empirical findings also identified an increase in a retailer’s competitive advantage and revenue as the benefits of utilising supplier selection criteria to improve a retailer’s performance. The conclusions and implications of the empirical findings are provided and recommendations made. The study advances a framework to assist in guiding the retailers and procurement and logistics managers, retail researchers and policy makers when selecting suppliers. The study suggests that retailers should identify the most important supplier selection criteria, inform potential suppliers of the importance v of those criteria, select suppliers based on those criteria and utilise those criteria to evaluate the suppliers’ performance.
- Full Text:
- Date Issued: 2020
Government size, labour productivity and economic growth in South Africa
- Authors: Mbaleki, Chuma Innocent
- Date: 2020
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48915 , vital:41170
- Description: This study investigates short-run and long-run effects of fiscal consolidation on labour productivity in South Africa using the autoregressive distributed lag bounds testing approach of cointegration. We use quarterly data collected in the period of 1994Q3 to 2017Q1. We disaggregate government expenditure as well as revenue and find a positive and significant long run relationship between revenue variables and labour productivity. This relationship is also positive and significant in the short run except for net tax variable, which seems to be growth contractive. The results further suggest a positive and significant long run relationship between government expenditure on health, public safety and order, culture and recreation as well as education and labour productivity. Government expenditure on education and health variables are also positive and significant in the short run, whilst expenditure on defense is negative and not significant both in the short run and long run.
- Full Text:
- Date Issued: 2020
- Authors: Mbaleki, Chuma Innocent
- Date: 2020
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48915 , vital:41170
- Description: This study investigates short-run and long-run effects of fiscal consolidation on labour productivity in South Africa using the autoregressive distributed lag bounds testing approach of cointegration. We use quarterly data collected in the period of 1994Q3 to 2017Q1. We disaggregate government expenditure as well as revenue and find a positive and significant long run relationship between revenue variables and labour productivity. This relationship is also positive and significant in the short run except for net tax variable, which seems to be growth contractive. The results further suggest a positive and significant long run relationship between government expenditure on health, public safety and order, culture and recreation as well as education and labour productivity. Government expenditure on education and health variables are also positive and significant in the short run, whilst expenditure on defense is negative and not significant both in the short run and long run.
- Full Text:
- Date Issued: 2020
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
An historical analysis of the development of a company as a single enterprise and the impact on group company taxation
- Authors: Els, Tania
- Date: 2020
- Subjects: Taxation -- South Africa , Taxation -- History , Taxation -- Law and legislation -- South Africa , Business enterprises -- South Africa , Business enterprises -- Taxation -- Law and legislation -- South Africa , Corporation law -- South Africa , South Africa. Income Tax Act, 1962 , South Africa. Companies Act, 2008 , Separate legal personality , Group taxation
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/154241 , vital:39628
- Description: The company is considered a separate legal entity in both legislation and jurisprudence. The “veil” separating the company and its shareholders is a doctrine entrenched in company law that originated centuries ago. The doctrine is based on conditions that existed during a period that commenced with trading forms less complicated than the corporate groups found today. Trading forms known as guilds could be traced back to 1087, which gradually developed into regulated companies and, in the last century, into the joint-stock company form. The modern era has seen the development of groups of companies carrying on business as economic units. Company law, in regulating business forms, has failed to acknowledge the corporate group as a new business entity. The main purpose of this research was to analyse the origins of the separate legal personality of a company and its relevance for the present corporate group structures. The research aimed to understand company law and jurisprudence in South Africa in relation to the legal personality of a company and a corporate group. The final objective of this reform-orientated doctrinal research thesis was to provide clarity on the need to consider granting separate legal identity to corporate groups in recognition of their economic unity. A historically contextualised analysis was carried out on the development of trading through unregulated forms of businesses to the creation of the company as a regulated entity. The development of the legal persona of a company in legislation as well as jurisprudence was critically analysed in on the context of companies within a corporate group. A case study of a South African corporate group was used to highlight the different characteristics of the companies doing business in the form of a corporate group. The thesis concluded by recommending that legal personality should be extended to include a corporate group in order to facilitate the introduction of a group taxation regime.
- Full Text:
- Date Issued: 2020
- Authors: Els, Tania
- Date: 2020
- Subjects: Taxation -- South Africa , Taxation -- History , Taxation -- Law and legislation -- South Africa , Business enterprises -- South Africa , Business enterprises -- Taxation -- Law and legislation -- South Africa , Corporation law -- South Africa , South Africa. Income Tax Act, 1962 , South Africa. Companies Act, 2008 , Separate legal personality , Group taxation
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/154241 , vital:39628
- Description: The company is considered a separate legal entity in both legislation and jurisprudence. The “veil” separating the company and its shareholders is a doctrine entrenched in company law that originated centuries ago. The doctrine is based on conditions that existed during a period that commenced with trading forms less complicated than the corporate groups found today. Trading forms known as guilds could be traced back to 1087, which gradually developed into regulated companies and, in the last century, into the joint-stock company form. The modern era has seen the development of groups of companies carrying on business as economic units. Company law, in regulating business forms, has failed to acknowledge the corporate group as a new business entity. The main purpose of this research was to analyse the origins of the separate legal personality of a company and its relevance for the present corporate group structures. The research aimed to understand company law and jurisprudence in South Africa in relation to the legal personality of a company and a corporate group. The final objective of this reform-orientated doctrinal research thesis was to provide clarity on the need to consider granting separate legal identity to corporate groups in recognition of their economic unity. A historically contextualised analysis was carried out on the development of trading through unregulated forms of businesses to the creation of the company as a regulated entity. The development of the legal persona of a company in legislation as well as jurisprudence was critically analysed in on the context of companies within a corporate group. A case study of a South African corporate group was used to highlight the different characteristics of the companies doing business in the form of a corporate group. The thesis concluded by recommending that legal personality should be extended to include a corporate group in order to facilitate the introduction of a group taxation regime.
- Full Text:
- Date Issued: 2020
Guidelines for the user interface design of electronic medical records in optometry
- Authors: Nathoo, Dina
- Date: 2020
- Subjects: User interfaces (Computer systems) , Medical records -- Data processing , Optometry -- South Africa -- Eastern Cape , System design , Workflow management systems
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148782 , vital:38773
- Description: With the prevalence of digitalisation in the medical industry, e-health systems have largely replaced the traditional paper-based recording methods. At the centre of these e-health systems are Electronic Health Records (EHRs) and Electronic Medical Records (EMRs), whose benefits significantly improve physician workflows. However, provision for user interface designs (UIDs) of these systems have been so poor that they have severely hindered physician usability, disrupted their workflows and risked patient safety. UID and usability guidelines have been provided, but have been very high level and general, mostly suitable for EHRs (which are used in general practices and hospitals). These guidelines have thus been ineffective in applicability for EMRs, which are typically used in niche medical environments. Within the niche field of Optometry, physicians experience disrupted workflows as a result of poor EMR UID and usability, of which EMR guidelines to improve these challenges are scarce. Hence, the need for this research arose, aiming to create UID guidelines for EMRs in Optometry, which will help improve the usability of the optometrists’ EMR. The main research question was successfully answered to produce the set of UID Guidelines for EMRs in Optometry, which includes guidelines built upon from literature and made contextually relevant, as well as some new additions, which are more patient focused. Design Science Research (DSR) was chosen as a suitable approach, and the phased Design Science Research Process Model (DSRPM) was used to guide this research. A literature review was conducted, including EHR and EMR, usability, UIDs, Optometry, related fields, and studies previously conducted to provide guidelines, frameworks and models. The review also included studying usability problems reported on the systems and the methods to overcome them. Task Analysis (TA) was used to observe and understand the optometrists’ workflows and their interactions with their EMRs during patient appointments, also identifying EMR problem areas. To address these problems, Focus Groups (FGs) were used to brainstorm solutions in the form of EMR UID features that optometrists’ required to improve their usability. From the literature review, TAs and FGs, proposed guidelines were created. The created guidelines informed the UID of an EMR prototype, which was successfully demonstrated to optometrists during Usability Testing sessions for the evaluation. Surveys were also used for the evaluation. The results proved the guidelines were successful, and were usable, effective, efficient and of good quality. A revised, final set of guidelines was then presented. Future researchers and designers may benefit from the contributions made from this research, which are both theoretical and practical.
- Full Text:
- Date Issued: 2020
- Authors: Nathoo, Dina
- Date: 2020
- Subjects: User interfaces (Computer systems) , Medical records -- Data processing , Optometry -- South Africa -- Eastern Cape , System design , Workflow management systems
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148782 , vital:38773
- Description: With the prevalence of digitalisation in the medical industry, e-health systems have largely replaced the traditional paper-based recording methods. At the centre of these e-health systems are Electronic Health Records (EHRs) and Electronic Medical Records (EMRs), whose benefits significantly improve physician workflows. However, provision for user interface designs (UIDs) of these systems have been so poor that they have severely hindered physician usability, disrupted their workflows and risked patient safety. UID and usability guidelines have been provided, but have been very high level and general, mostly suitable for EHRs (which are used in general practices and hospitals). These guidelines have thus been ineffective in applicability for EMRs, which are typically used in niche medical environments. Within the niche field of Optometry, physicians experience disrupted workflows as a result of poor EMR UID and usability, of which EMR guidelines to improve these challenges are scarce. Hence, the need for this research arose, aiming to create UID guidelines for EMRs in Optometry, which will help improve the usability of the optometrists’ EMR. The main research question was successfully answered to produce the set of UID Guidelines for EMRs in Optometry, which includes guidelines built upon from literature and made contextually relevant, as well as some new additions, which are more patient focused. Design Science Research (DSR) was chosen as a suitable approach, and the phased Design Science Research Process Model (DSRPM) was used to guide this research. A literature review was conducted, including EHR and EMR, usability, UIDs, Optometry, related fields, and studies previously conducted to provide guidelines, frameworks and models. The review also included studying usability problems reported on the systems and the methods to overcome them. Task Analysis (TA) was used to observe and understand the optometrists’ workflows and their interactions with their EMRs during patient appointments, also identifying EMR problem areas. To address these problems, Focus Groups (FGs) were used to brainstorm solutions in the form of EMR UID features that optometrists’ required to improve their usability. From the literature review, TAs and FGs, proposed guidelines were created. The created guidelines informed the UID of an EMR prototype, which was successfully demonstrated to optometrists during Usability Testing sessions for the evaluation. Surveys were also used for the evaluation. The results proved the guidelines were successful, and were usable, effective, efficient and of good quality. A revised, final set of guidelines was then presented. Future researchers and designers may benefit from the contributions made from this research, which are both theoretical and practical.
- Full Text:
- Date Issued: 2020
The relationship between export diversification, export concentration and economic growth
- Authors: Mchani, Sibusisiwe
- Date: 2020
- Subjects: Exports Economic development
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49670 , vital:41769
- Description: Export diversification on economic growth has been a controversial issue in the empirical literature for a long time. This study examined the role of export diversification and export concentration on economic growth in the top ten trading countries in Africa and top ten trading countries in the world. The study used annual time series data for the period covering 1995 to 2014 and employed a PMG (Pooled Mean Group) Model to determine the effects of export concentration and export diversification and possible factors that affect it on economic growth. The estimation results attest to a positive effect of export diversification and a negative effect of export concentration on economic growth in the top ten trading countries in the world. However, for the top ten trading countries in Africa, the results show that export diversification is negatively related to economic growth, while export concentration positively affects economic growth. These results hold even when the DOLS and FMOLS are employed establishing their robustness. The study further shows that other control variables such as employment and government spending positively affect economic growth, while human capital and investment negatively affects economic growth in Africa. In the top ten trading countries in the World, government expenditure and investment are significant positive determinants of economic growth. It is recommended that governments in Africa countries should promote export diversification together with government expenditure, and pursue policies that will attract foreign direct investment into growth–enhancing productive sectors of their economies
- Full Text:
- Date Issued: 2020
- Authors: Mchani, Sibusisiwe
- Date: 2020
- Subjects: Exports Economic development
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49670 , vital:41769
- Description: Export diversification on economic growth has been a controversial issue in the empirical literature for a long time. This study examined the role of export diversification and export concentration on economic growth in the top ten trading countries in Africa and top ten trading countries in the world. The study used annual time series data for the period covering 1995 to 2014 and employed a PMG (Pooled Mean Group) Model to determine the effects of export concentration and export diversification and possible factors that affect it on economic growth. The estimation results attest to a positive effect of export diversification and a negative effect of export concentration on economic growth in the top ten trading countries in the world. However, for the top ten trading countries in Africa, the results show that export diversification is negatively related to economic growth, while export concentration positively affects economic growth. These results hold even when the DOLS and FMOLS are employed establishing their robustness. The study further shows that other control variables such as employment and government spending positively affect economic growth, while human capital and investment negatively affects economic growth in Africa. In the top ten trading countries in the World, government expenditure and investment are significant positive determinants of economic growth. It is recommended that governments in Africa countries should promote export diversification together with government expenditure, and pursue policies that will attract foreign direct investment into growth–enhancing productive sectors of their economies
- Full Text:
- Date Issued: 2020
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 carbon tax and other environmental levies: a South African and international perspective
- Authors: Vuzane, Rolihlahla
- Date: 2020
- Subjects: Carbon taxes , Carbon taxes -- South Africa , Environmental impact charges , Environmental impact charges -- South Africa , Taxation -- Environmental aspects , Taxation -- Environmental aspects -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/167676 , vital:41502
- Description: As a “Non-Annex 1” country, there was no obligation for South Africa to reduce its carbon emissions. South Africa undertook, of its own volition, to take measures to reduce 34% of the carbon monoxide emissions by 2020 and 42% by 2025 respectively. In response, South Africa promulgated the Carbon Tax Act, No. 15 of 2019. This study seeks to answer the question: After analysing the range of environmental taxes levied in the Scandinavian countries (Denmark, Finland, Norway and Sweden) and in South Africa, are there lessons that can be learnt for South Africa? In answering this question, the carbon tax structure in South Africa and in selected Scandinavian countries is analysed, together with existing environmental taxes and the related policies, using a literature study. What is evident from the Scandinavian countries studied, is that environmental taxes have distributional effects and are effective in reducing carbon emissions. The major result of the study was that the real weakness of the newly introduced Carbon Tax Act is that in both in the first and second phase of its implementation, the carbon tax rate is too low to send an appropriate signal to the market and would not have the desired outcome. In addition, there are currently no guidelines that inform the revenue recycling technique to ensure transparency of revenue usage, improved energy management, or how the Carbon Tax Act will promote environmental quality. A major concern is that carbon tax revenue will not be ring-fenced. Given that South Africa is a developing country and depends mainly on non-renewable energy, it is inevitable that most of its sectors will be subject to the carbon tax. A plausible approach is the one that promotes the idea of taxing those more heavily that contribute most to environmental degradation and are highly energy concentrated, to promote parity between the harm to the environment and the taxes levied to redress the harm.
- Full Text:
- Date Issued: 2020
- Authors: Vuzane, Rolihlahla
- Date: 2020
- Subjects: Carbon taxes , Carbon taxes -- South Africa , Environmental impact charges , Environmental impact charges -- South Africa , Taxation -- Environmental aspects , Taxation -- Environmental aspects -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/167676 , vital:41502
- Description: As a “Non-Annex 1” country, there was no obligation for South Africa to reduce its carbon emissions. South Africa undertook, of its own volition, to take measures to reduce 34% of the carbon monoxide emissions by 2020 and 42% by 2025 respectively. In response, South Africa promulgated the Carbon Tax Act, No. 15 of 2019. This study seeks to answer the question: After analysing the range of environmental taxes levied in the Scandinavian countries (Denmark, Finland, Norway and Sweden) and in South Africa, are there lessons that can be learnt for South Africa? In answering this question, the carbon tax structure in South Africa and in selected Scandinavian countries is analysed, together with existing environmental taxes and the related policies, using a literature study. What is evident from the Scandinavian countries studied, is that environmental taxes have distributional effects and are effective in reducing carbon emissions. The major result of the study was that the real weakness of the newly introduced Carbon Tax Act is that in both in the first and second phase of its implementation, the carbon tax rate is too low to send an appropriate signal to the market and would not have the desired outcome. In addition, there are currently no guidelines that inform the revenue recycling technique to ensure transparency of revenue usage, improved energy management, or how the Carbon Tax Act will promote environmental quality. A major concern is that carbon tax revenue will not be ring-fenced. Given that South Africa is a developing country and depends mainly on non-renewable energy, it is inevitable that most of its sectors will be subject to the carbon tax. A plausible approach is the one that promotes the idea of taxing those more heavily that contribute most to environmental degradation and are highly energy concentrated, to promote parity between the harm to the environment and the taxes levied to redress the harm.
- Full Text:
- Date Issued: 2020
The current nature of intra-regional trade in the proposed tripartite free trade area
- Authors: Chibuta, Chisengele
- Date: 2020
- Subjects: Customs unions -- Africa, Southern -- Economic integration , Africa, Southern -- Economic policy , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions , Tripartite Free Trade Area , Free trade -- Africa, Southern
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/146744 , vital:38553
- Description: This thesis examines and analyses the current nature of intra-regional trade between member states of the proposed Tripartite Free Trade Area in order to contribute to an understanding of the potential for intra-regional trade within the region to increase. Trade Complementarity Indexes were used to determine how well the structures of the three founding blocs’ major imports and exports match. The results show that there is a high degree of trade complementarity in the trade of the top 5 major products traded between the regional groups. With the proposed TFTA in place, high trade complementarity could lead to increased trade between the regional groups. Trade Intensity Indexes were used to determine how intensively the three founding blocs trade with one another. Results from the indexes help determine the extent to which the blocs currently view each other as important trading partners and the implications of this for the proposed TFTA. Results show that EAC and SADC as well as EAC and COMESA viewed each other as significant trading partners while SADC and COMESA did not for the majority of the years from 2001 to 2018. With the TFTA in place, intra-regional trade could be strengthened among the members who currently trade intensively because tariffs between them would be progressively eliminated as required by the TFTA Agreement. Revealed Comparative Advantage Indexes were used to gain insights on whether member states have any comparative advantage in their top 5 exports. Results from the indexes were used to determine whether member states have comparative advantage in similar or dissimilar major exports and the implications of this for the proposed TFTA. Results show that member states have revealed comparative advantage in similar products and these products present opportunities for joint-production among member states as well as sectors for product development once the proposed TFTA is in place. Revealed Trade Barrier Indexes were used to gain insights into the extent of ease of market access into each regional bloc’s market. Results from the indexes indicate whether major products imported from each other receive possibly discriminatory or preferential treatment. The results indicate that the majority of the top 5 imports sourced from each region receive preferential treatment. This indicates that there is ease of market access for the top 5 imports sourced from each other and this could promote increased intra-regional trade among member states in these product categories because tariff and non-tariff barriers to trade will be progressively eliminated once the TFTA is in place.
- Full Text:
- Date Issued: 2020
- Authors: Chibuta, Chisengele
- Date: 2020
- Subjects: Customs unions -- Africa, Southern -- Economic integration , Africa, Southern -- Economic policy , Africa, Southern -- Economic integration , Africa, Southern -- Economic conditions , Tripartite Free Trade Area , Free trade -- Africa, Southern
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/146744 , vital:38553
- Description: This thesis examines and analyses the current nature of intra-regional trade between member states of the proposed Tripartite Free Trade Area in order to contribute to an understanding of the potential for intra-regional trade within the region to increase. Trade Complementarity Indexes were used to determine how well the structures of the three founding blocs’ major imports and exports match. The results show that there is a high degree of trade complementarity in the trade of the top 5 major products traded between the regional groups. With the proposed TFTA in place, high trade complementarity could lead to increased trade between the regional groups. Trade Intensity Indexes were used to determine how intensively the three founding blocs trade with one another. Results from the indexes help determine the extent to which the blocs currently view each other as important trading partners and the implications of this for the proposed TFTA. Results show that EAC and SADC as well as EAC and COMESA viewed each other as significant trading partners while SADC and COMESA did not for the majority of the years from 2001 to 2018. With the TFTA in place, intra-regional trade could be strengthened among the members who currently trade intensively because tariffs between them would be progressively eliminated as required by the TFTA Agreement. Revealed Comparative Advantage Indexes were used to gain insights on whether member states have any comparative advantage in their top 5 exports. Results from the indexes were used to determine whether member states have comparative advantage in similar or dissimilar major exports and the implications of this for the proposed TFTA. Results show that member states have revealed comparative advantage in similar products and these products present opportunities for joint-production among member states as well as sectors for product development once the proposed TFTA is in place. Revealed Trade Barrier Indexes were used to gain insights into the extent of ease of market access into each regional bloc’s market. Results from the indexes indicate whether major products imported from each other receive possibly discriminatory or preferential treatment. The results indicate that the majority of the top 5 imports sourced from each region receive preferential treatment. This indicates that there is ease of market access for the top 5 imports sourced from each other and this could promote increased intra-regional trade among member states in these product categories because tariff and non-tariff barriers to trade will be progressively eliminated once the TFTA is in place.
- Full Text:
- Date Issued: 2020
A cloud adoption framework for South African SMEs
- Authors: Mudzamba, Ronald Ratidzo
- Date: 2020
- Subjects: Cloud computing , Cloud computing -- Security measures , Small business -- Technological innovations -- South Africa -- Eastern Cape , Small business -- Information technology -- South Africa -- Eastern Cape , Information technology -- South Africa -- Eastern Cape , Technology-Organisation-Environment (TOE) framework , Small to Medium Enterprises (SMEs)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148574 , vital:38751
- Description: Small to Medium Enterprises (SMEs) have been touted as key enablers to the economic development of most countries. Despite growing evidence that most SMEs fail within their initial years, ICTs have been found to add substantial value in facilitating their success. However, in most developing countries, ICT adoption by SMEs has been plagued with a plethora of challenges ranging from poor electricity supply, high ICT costs, lack of ICT expertise to lack of government support. While this might seem problematic for SMEs, the adoption and the use of cloud services mitigates some of these challenges. The problem, however, is that a limited amount of literature has provided guidance with regard to how the cloud adoption process should be carried out by SMEs. The objective of this research, was therefore, to address this by developing a framework that can be used by SMEs to guide them through the cloud adoption process. To this end, thirteen (13) semi-structured interviews were conducted across nine (9) SMEs in the Eastern Cape. The resultant interview transcripts were analysed using an established thematic approach; the result of which allowed for the development of a rich interpretive narrative about SME cloud adoption. Combined with theory from extant literature, this culminated in the development of a framework for cloud services adoption for SMEs in the Eastern Cape.
- Full Text:
- Date Issued: 2020
- Authors: Mudzamba, Ronald Ratidzo
- Date: 2020
- Subjects: Cloud computing , Cloud computing -- Security measures , Small business -- Technological innovations -- South Africa -- Eastern Cape , Small business -- Information technology -- South Africa -- Eastern Cape , Information technology -- South Africa -- Eastern Cape , Technology-Organisation-Environment (TOE) framework , Small to Medium Enterprises (SMEs)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148574 , vital:38751
- Description: Small to Medium Enterprises (SMEs) have been touted as key enablers to the economic development of most countries. Despite growing evidence that most SMEs fail within their initial years, ICTs have been found to add substantial value in facilitating their success. However, in most developing countries, ICT adoption by SMEs has been plagued with a plethora of challenges ranging from poor electricity supply, high ICT costs, lack of ICT expertise to lack of government support. While this might seem problematic for SMEs, the adoption and the use of cloud services mitigates some of these challenges. The problem, however, is that a limited amount of literature has provided guidance with regard to how the cloud adoption process should be carried out by SMEs. The objective of this research, was therefore, to address this by developing a framework that can be used by SMEs to guide them through the cloud adoption process. To this end, thirteen (13) semi-structured interviews were conducted across nine (9) SMEs in the Eastern Cape. The resultant interview transcripts were analysed using an established thematic approach; the result of which allowed for the development of a rich interpretive narrative about SME cloud adoption. Combined with theory from extant literature, this culminated in the development of a framework for cloud services adoption for SMEs in the Eastern Cape.
- Full Text:
- Date Issued: 2020
Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay
- Authors: Madlwabinga, Zolani Maxwell
- Date: 2020
- Subjects: Tourism -- Social aspects -- South Africa -- Jeffrey's Bay
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48786 , vital:41072
- Description: In the context of tourism, the community is seen as one of many stakeholders, with the other stakeholders being the tourism product owners, the government and tourism marketers. An understanding of a particular community’s perceptions and attitudes and how these perceptions are shaped concerning tourism development is important for decision-makers. The knowledge and involvement of the community in tourism related matters often determine the success of tourism development. The key element of effective planning for tourism is involving the local community and paying attention to their ideas, needs and aspirations, regarding tourism development in their community. Therefore, the aim of this study was to determine Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In order to address this aim, the following research objectives were formulated: To conduct a comprehensive literature review on residents’ perceptions of the socio-cultural impacts of tourism; To ascertain the levels of knowledge of Tokyo Sexwale residents about tourism; and To investigate the Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In an attempt to address the objectives of this study, a quantitative research approach was adopted. Using the non-probability sampling method, specifically, convenience sampling, the data was collected by conducting the fieldwork in Tokyo Sexwale community in Jeffrey’s Bay from the beginning of June 2019 until the end of August 2019. As a result, completed questionnaires were collected from a sample size of 400 respondents. The findings revealed that 34.7 percent of the respondents were young and aged between 26-35 years. Twenty-seven (27.0) percent of the respondents have been residing in the community for six to ten (6-10) years. A substantial number of respondents had completed a secondary qualification (75.3 percent). The findings further revealed that the majority of respondents were knowledgeable about the statement “Tourism includes holiday trips, travelling away from home for recreational and business purposes” (91.5 percent). Half of the respondents indicated that they interact with tourists more frequently when they visit their area, purchasing goods and services (50.0 percent). With respect to positive and negative socio-cultural impacts of tourism, the findings revealed that 63.5 percent of respondents indicated that tourism has improved the image of Jeffrey’s Bay, while 49.5 percent of respondents indicated that traditional culture is being commercialised as a result of tourism. This study recommends that the local government and tourism businesses in Jeffrey’s Bay should implement community tourism awareness programmes to educate local residents about the potential positive and negative socio-cultural impacts of tourism. This will ensure that local residents of Tokyo Sexwale community are aware of such impacts and reject tourism developments that will be harmful to their community and support those that will benefit them.
- Full Text:
- Date Issued: 2020
- Authors: Madlwabinga, Zolani Maxwell
- Date: 2020
- Subjects: Tourism -- Social aspects -- South Africa -- Jeffrey's Bay
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48786 , vital:41072
- Description: In the context of tourism, the community is seen as one of many stakeholders, with the other stakeholders being the tourism product owners, the government and tourism marketers. An understanding of a particular community’s perceptions and attitudes and how these perceptions are shaped concerning tourism development is important for decision-makers. The knowledge and involvement of the community in tourism related matters often determine the success of tourism development. The key element of effective planning for tourism is involving the local community and paying attention to their ideas, needs and aspirations, regarding tourism development in their community. Therefore, the aim of this study was to determine Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In order to address this aim, the following research objectives were formulated: To conduct a comprehensive literature review on residents’ perceptions of the socio-cultural impacts of tourism; To ascertain the levels of knowledge of Tokyo Sexwale residents about tourism; and To investigate the Tokyo Sexwale residents’ perceptions of the socio-cultural impacts of tourism in Jeffrey’s Bay. In an attempt to address the objectives of this study, a quantitative research approach was adopted. Using the non-probability sampling method, specifically, convenience sampling, the data was collected by conducting the fieldwork in Tokyo Sexwale community in Jeffrey’s Bay from the beginning of June 2019 until the end of August 2019. As a result, completed questionnaires were collected from a sample size of 400 respondents. The findings revealed that 34.7 percent of the respondents were young and aged between 26-35 years. Twenty-seven (27.0) percent of the respondents have been residing in the community for six to ten (6-10) years. A substantial number of respondents had completed a secondary qualification (75.3 percent). The findings further revealed that the majority of respondents were knowledgeable about the statement “Tourism includes holiday trips, travelling away from home for recreational and business purposes” (91.5 percent). Half of the respondents indicated that they interact with tourists more frequently when they visit their area, purchasing goods and services (50.0 percent). With respect to positive and negative socio-cultural impacts of tourism, the findings revealed that 63.5 percent of respondents indicated that tourism has improved the image of Jeffrey’s Bay, while 49.5 percent of respondents indicated that traditional culture is being commercialised as a result of tourism. This study recommends that the local government and tourism businesses in Jeffrey’s Bay should implement community tourism awareness programmes to educate local residents about the potential positive and negative socio-cultural impacts of tourism. This will ensure that local residents of Tokyo Sexwale community are aware of such impacts and reject tourism developments that will be harmful to their community and support those that will benefit them.
- Full Text:
- Date Issued: 2020
Cryptocurrencies in the future of money and monetary policy
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
Market timing and portfolio returns: an empirical analysis of the potential profitability of buy-sell strategies, based on South African equities 2009-2018
- Authors: Mulweli, Ramulongo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stocks -- Charts, diagrams, etc. , Investment analysis -- South Africa , Stocks -- South Africa , Stocks -- South Africa -- Cast studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144487 , vital:38350
- Description: South Africa’s financial markets have become larger and more complex over recent decades. The number of market participants who are using technical analysis techniques to predict the market’s movement has been growing rapidly. This research aims to investigate if historical share prices can be used when forecasting the market’s direction and to examine the profitability of the Japanese candlestick patterns. The study is based on ten companies selected from the JSE top 40 2019 composition. These are Aspen Pharmacy Holding, Capitec Bank Holding LTD, Discovery LTD, Kumba Iron Ore LTD, Mondi PLC, Mr. Price Group LTD, MTN Group LTD, Naspers LTD, SASOL LTD, and Shoprite Holdings LTD. These were selected from the JSE top 40 based on market capitalization and sector. This research analyzes eight candlestick reversal patterns; four are bullish patterns namely: doji star, hammer, bullish engulfing and the piercing lines and the other four are bearish patterns namely: shooting star, hanging man, bearish engulfing and the dark cloud cover. The ARCH and GARCH models are used to test for correlation between past share prices and future share prices and the binomial test and the mean return calculations were used to test the profitability of candlestick patterns. The sample is from Thomson DataStream 2019 and IRESS SA 2019 and covers ten years with 2496 observations starting from 02 January 2009 to 31 December 2018. The findings from the ARCH and GARCH tests revealed that there is a serial correlation between the returns from the previous day and the returns for the current day. The results from the mean returns and the binomial tests show strong evidence that the shooting star, hanging man, bearish engulfing and the bulling engulfing are statistically significant in predicting the share price movements. On the other hand, there was no evidence that the dark cloud cover, piercing lines, and the bullish doji can predict share price movements. Additionally, further studies on this topic could be improved by adding different candlestick patterns and the total number of companies analyzed. The results could also be improved by analyzing the candlestick reversal patterns when they are used with other trading rules such as support resistance levels and oscillators.
- Full Text:
- Date Issued: 2020
- Authors: Mulweli, Ramulongo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stocks -- Charts, diagrams, etc. , Investment analysis -- South Africa , Stocks -- South Africa , Stocks -- South Africa -- Cast studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144487 , vital:38350
- Description: South Africa’s financial markets have become larger and more complex over recent decades. The number of market participants who are using technical analysis techniques to predict the market’s movement has been growing rapidly. This research aims to investigate if historical share prices can be used when forecasting the market’s direction and to examine the profitability of the Japanese candlestick patterns. The study is based on ten companies selected from the JSE top 40 2019 composition. These are Aspen Pharmacy Holding, Capitec Bank Holding LTD, Discovery LTD, Kumba Iron Ore LTD, Mondi PLC, Mr. Price Group LTD, MTN Group LTD, Naspers LTD, SASOL LTD, and Shoprite Holdings LTD. These were selected from the JSE top 40 based on market capitalization and sector. This research analyzes eight candlestick reversal patterns; four are bullish patterns namely: doji star, hammer, bullish engulfing and the piercing lines and the other four are bearish patterns namely: shooting star, hanging man, bearish engulfing and the dark cloud cover. The ARCH and GARCH models are used to test for correlation between past share prices and future share prices and the binomial test and the mean return calculations were used to test the profitability of candlestick patterns. The sample is from Thomson DataStream 2019 and IRESS SA 2019 and covers ten years with 2496 observations starting from 02 January 2009 to 31 December 2018. The findings from the ARCH and GARCH tests revealed that there is a serial correlation between the returns from the previous day and the returns for the current day. The results from the mean returns and the binomial tests show strong evidence that the shooting star, hanging man, bearish engulfing and the bulling engulfing are statistically significant in predicting the share price movements. On the other hand, there was no evidence that the dark cloud cover, piercing lines, and the bullish doji can predict share price movements. Additionally, further studies on this topic could be improved by adding different candlestick patterns and the total number of companies analyzed. The results could also be improved by analyzing the candlestick reversal patterns when they are used with other trading rules such as support resistance levels and oscillators.
- Full Text:
- Date Issued: 2020
Statutory mergers as contemplated in the Companies Act, 2008: the applicability of the corporate rules contained in section 44 of the Income Tax Act, 1962
- Authors: Shama, Natalie Anne
- Date: 2020
- Subjects: South Africa. Companies Act, 2008 , South Africa. Income Tax Act, 1962 , Consolidation and merger of corporations -- South Africa , Corporation law -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144767 , vital:38377
- Description: The purpose of this research is to determine the extent to which a statutory merger in terms of the Companies Act, 2008, may be accommodated by the provisions of an amalgamation transaction in terms of section 44 of the Income Tax Act, 1962. The research method adopted is a legal interpretative research approach. South African company law underwent significant reform with the introduction of the Companies Act, 2008. One of the fundamental areas for reform was the need for a mechanism to appropriately accommodate a corporate merger, and thus, what is referred to as a statutory merger was introduced into South African company law. What is notable is that the statutory merger has been crafted to apply across a variety of circumstances that may arise in commerce, thus offering wide versatility. On the other hand, the tax relief afforded in terms of the corporate roll-over provisions in the Income Tax Act is designed to facilitate corporate transactions on a tax neutral basis, whilst balancing the concessions these measures introduce and the potential for tax avoidance. Consequently, the tax relief applicable to an amalgamation transaction will only apply within strictly prescribed parameters. The research shows an ongoing effort by National Treasury to amend the provisions of the amalgamation transaction to better accommodate a statutory merger, but highlights that there are nevertheless certain conflicting purposes (policy) for each piece of legislation. For these reasons, the focus and parameters of a statutory merger and amalgamation transaction do not align perfectly. The key areas of inconsistency identified in this research are threefold, namely (i) the creation of a new company as a consequence of a statutory merger is not accommodated in an amalgamation transaction; (ii) the process of compensating the shareholders of the amalgamated company in an amalgamation transaction is not clearly contemplated in the statutory merger provisions; and (iii) mergers between a company and its shareholder currently present numerous complexities from both a company law and taxation perspective. The research concludes that the flexibility afforded under the statutory merger is largely minimised for parties who wish to simultaneously enjoy the tax relief afforded under an amalgamation transaction.
- Full Text:
- Date Issued: 2020
- Authors: Shama, Natalie Anne
- Date: 2020
- Subjects: South Africa. Companies Act, 2008 , South Africa. Income Tax Act, 1962 , Consolidation and merger of corporations -- South Africa , Corporation law -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144767 , vital:38377
- Description: The purpose of this research is to determine the extent to which a statutory merger in terms of the Companies Act, 2008, may be accommodated by the provisions of an amalgamation transaction in terms of section 44 of the Income Tax Act, 1962. The research method adopted is a legal interpretative research approach. South African company law underwent significant reform with the introduction of the Companies Act, 2008. One of the fundamental areas for reform was the need for a mechanism to appropriately accommodate a corporate merger, and thus, what is referred to as a statutory merger was introduced into South African company law. What is notable is that the statutory merger has been crafted to apply across a variety of circumstances that may arise in commerce, thus offering wide versatility. On the other hand, the tax relief afforded in terms of the corporate roll-over provisions in the Income Tax Act is designed to facilitate corporate transactions on a tax neutral basis, whilst balancing the concessions these measures introduce and the potential for tax avoidance. Consequently, the tax relief applicable to an amalgamation transaction will only apply within strictly prescribed parameters. The research shows an ongoing effort by National Treasury to amend the provisions of the amalgamation transaction to better accommodate a statutory merger, but highlights that there are nevertheless certain conflicting purposes (policy) for each piece of legislation. For these reasons, the focus and parameters of a statutory merger and amalgamation transaction do not align perfectly. The key areas of inconsistency identified in this research are threefold, namely (i) the creation of a new company as a consequence of a statutory merger is not accommodated in an amalgamation transaction; (ii) the process of compensating the shareholders of the amalgamated company in an amalgamation transaction is not clearly contemplated in the statutory merger provisions; and (iii) mergers between a company and its shareholder currently present numerous complexities from both a company law and taxation perspective. The research concludes that the flexibility afforded under the statutory merger is largely minimised for parties who wish to simultaneously enjoy the tax relief afforded under an amalgamation transaction.
- Full Text:
- Date Issued: 2020
Economic convergence among the SADC members
- Authors: Mbangezeli, Sinawo
- Date: 2020
- Subjects: Convergence (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48927 , vital:41171
- Description: This study utilized beta convergence to investigate the catch-up process among the Southern African Development Community (SADC) for the period 1971 to 2017. The theoretical underpinning of this study was that of neoclassical economists, such as Solow (1956) and Barro and Sala-I-Martin (1990, 1991). Gross Domestic Product (GDP) growth rates and per capita growth rates were used to test for the convergence hypothesis. This study employed conventional unit root test which include the Augmented Dickey-Fuller (ADF) test, Phillips Perron (PP) test and the Kwiatkowski Phillips Schmidt Shin (KPSS) test. As well the Dickey Fuller-GLS and NG-Perron modified unit root tests. In addition, the Lee-Strazicich (LS) and Zivot- Andrew (ZA) unit root tests were used to allow for structural breaks. The conventional and modified unit root tests showed that most countries show evidence of GDP growth convergence, the exception being on the KPSS unit root test. Furthermore, most countries showed evidence of convergence when classified according to income levels. Meanwhile, when the structural breaks unit root tests when performed there was a strong evidence of both GDP growth and GDP per capita growth rates. Except in a few cases of the Lee-Strazicich tests. Lastly, the Flexible Fourier Form (FFF) unit root test was performed following the Enders and Lee (2012) methodology. The t-statistics under the FFF test reveal that all members besides Congo and Zimbabwe converge towards the SADC average growth rates. Similarly, all lower-middle economies catch up to the upper-middle- and high-income level economies and upper-middle economies converge to Seychelles’ GDP growth rates. Whereas only Congo and Tanzania among the lower income economies converge toward the average GDP growth rates of the other countries. In addition, all members show evidence of per capita GDP convergence except when the test is performed in panel A. Based on the reported results, the paper recommends that measures should be put in place to aid non-converging member states, adoption of growth promoting policies and that there should be harsh consequences for countries that do not improve their growth rates.
- Full Text:
- Date Issued: 2020
- Authors: Mbangezeli, Sinawo
- Date: 2020
- Subjects: Convergence (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48927 , vital:41171
- Description: This study utilized beta convergence to investigate the catch-up process among the Southern African Development Community (SADC) for the period 1971 to 2017. The theoretical underpinning of this study was that of neoclassical economists, such as Solow (1956) and Barro and Sala-I-Martin (1990, 1991). Gross Domestic Product (GDP) growth rates and per capita growth rates were used to test for the convergence hypothesis. This study employed conventional unit root test which include the Augmented Dickey-Fuller (ADF) test, Phillips Perron (PP) test and the Kwiatkowski Phillips Schmidt Shin (KPSS) test. As well the Dickey Fuller-GLS and NG-Perron modified unit root tests. In addition, the Lee-Strazicich (LS) and Zivot- Andrew (ZA) unit root tests were used to allow for structural breaks. The conventional and modified unit root tests showed that most countries show evidence of GDP growth convergence, the exception being on the KPSS unit root test. Furthermore, most countries showed evidence of convergence when classified according to income levels. Meanwhile, when the structural breaks unit root tests when performed there was a strong evidence of both GDP growth and GDP per capita growth rates. Except in a few cases of the Lee-Strazicich tests. Lastly, the Flexible Fourier Form (FFF) unit root test was performed following the Enders and Lee (2012) methodology. The t-statistics under the FFF test reveal that all members besides Congo and Zimbabwe converge towards the SADC average growth rates. Similarly, all lower-middle economies catch up to the upper-middle- and high-income level economies and upper-middle economies converge to Seychelles’ GDP growth rates. Whereas only Congo and Tanzania among the lower income economies converge toward the average GDP growth rates of the other countries. In addition, all members show evidence of per capita GDP convergence except when the test is performed in panel A. Based on the reported results, the paper recommends that measures should be put in place to aid non-converging member states, adoption of growth promoting policies and that there should be harsh consequences for countries that do not improve their growth rates.
- Full Text:
- Date Issued: 2020
Economic evaluation of chemical and biological control methods on four aquatic weeds in South Africa
- Authors: Maluleke, Mary
- Date: 2020
- Subjects: Invasive plants -- Biological control -- Economic aspects -- South Africa , Introduced organisms -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Control -- Economic aspects -- South Africa , Aquatic resources -- Management , Cost effectiveness , Net present value , Herbicides -- Cost effectiveness , Working for Water Programme , Water conservation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/145953 , vital:38481
- Description: Invasive alien plants (IAPs) of various kinds pose a threat to ecosystems, biodiversity, conservation and overall economy. In a world experiencing exponential increase in IAPs – this issue has become endemic, especially for developing countries such as South Africa. South Africa is a water scarce country and IAPs increase water stress. Thus, South Africa must invest in a more realistic, environmentally and economically inclusive policy outlook on the management of IAPs including aquatic weeds. This is especially urgent when considering the changing global climate, which is predicted to further reduce the quantity and quality of potable water. The Working for Water Programme (WfW) in South Africa aimed at addressing the issue of IAPs in a way that protects the environment as well as produces maximum return to society through poverty alleviation. As such, the aquatic weeds management strategy put in place for four of South Africa’s aquatic weeds Pista stratiotes, Salvinia molesta, Azolla filiculoides and Myriophyllum aquaticum - should be one that is cost-effective, efficient and sustainable; yielding the best possible return on investment. Since these four weeds are already under complete biological control, in the absence of biological agents, the WfW programme would have used herbicides to control these weeds. As such, this thesis conducted a retrospective analysis of the relative herbicide cost-saving associated with the use of biological control. To do this, due to existing limitations, E. crassipes was used as a surrogate weed and its herbicide control costs were used as proxy for the herbicide control cost estimates of the four selected weeds; with reasonable conversion factors applied to cater for the biological difference of the five weeds. Using the cost benefit analysis (CBA) framework, the net present cost (NPC) of each control method was calculated to which the relative cost-saving was considered to represent the avoided cost of using biological control instead of chemical control on these weeds. The avoided cost was used as the main benefit component when deriving the relative benefit cost ratios (BCR). Two scenarios were used, one assuming no follow-up requirement and the other assuming one follow-up requirement for chemical control. Using an 8% discount rate, the study found that the estimated cost of the biological control method on all four aquatic weeds was about R7,843,205 while for chemical control the estimated costs would have costed R149,580,142, R268,264,838 and R881,711,738 for application by means of a boat, bakkie and knapsack. Chemical control cost estimates would have increased to about R164,538,052, R295,216,120 and R1,008,761,000 for boat, bakkie and knapsack approach respectively when including a possible follow-up programme. These would have led to positive BCRs of 90.24:1, 164.97:1 and 557.99:1 across the three chemical control approaches without a follow-up (with BCR of about 99.67:1, 182.00:1 and 631.56:1 for the boat, bakkie and knapsack approach respectively with the accepted follow-up programme). When running a sensitivity test with varying discount rates of 5% and 10%, these results remained robust. As such, failing to reject the dominant hypothesis in literature, the main conclusion of the study is that biological control is indeed the more cost-effective management option compared to chemical control with respect to herbicide cost-saving. Further, biological control is most-likely to produce more environmental cost-saving and water-saving over chemical control. The study recommends the continued use of the biological control investment on the four aquatic weeds under study as well as on emerging aquatic weeds such as Iris pseudacorus, Nymphaea mexicana and Sagittaria platyphylla in South Africa.
- Full Text:
- Date Issued: 2020
Economic evaluation of chemical and biological control methods on four aquatic weeds in South Africa
- Authors: Maluleke, Mary
- Date: 2020
- Subjects: Invasive plants -- Biological control -- Economic aspects -- South Africa , Introduced organisms -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Control -- Economic aspects -- South Africa , Aquatic resources -- Management , Cost effectiveness , Net present value , Herbicides -- Cost effectiveness , Working for Water Programme , Water conservation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/145953 , vital:38481
- Description: Invasive alien plants (IAPs) of various kinds pose a threat to ecosystems, biodiversity, conservation and overall economy. In a world experiencing exponential increase in IAPs – this issue has become endemic, especially for developing countries such as South Africa. South Africa is a water scarce country and IAPs increase water stress. Thus, South Africa must invest in a more realistic, environmentally and economically inclusive policy outlook on the management of IAPs including aquatic weeds. This is especially urgent when considering the changing global climate, which is predicted to further reduce the quantity and quality of potable water. The Working for Water Programme (WfW) in South Africa aimed at addressing the issue of IAPs in a way that protects the environment as well as produces maximum return to society through poverty alleviation. As such, the aquatic weeds management strategy put in place for four of South Africa’s aquatic weeds Pista stratiotes, Salvinia molesta, Azolla filiculoides and Myriophyllum aquaticum - should be one that is cost-effective, efficient and sustainable; yielding the best possible return on investment. Since these four weeds are already under complete biological control, in the absence of biological agents, the WfW programme would have used herbicides to control these weeds. As such, this thesis conducted a retrospective analysis of the relative herbicide cost-saving associated with the use of biological control. To do this, due to existing limitations, E. crassipes was used as a surrogate weed and its herbicide control costs were used as proxy for the herbicide control cost estimates of the four selected weeds; with reasonable conversion factors applied to cater for the biological difference of the five weeds. Using the cost benefit analysis (CBA) framework, the net present cost (NPC) of each control method was calculated to which the relative cost-saving was considered to represent the avoided cost of using biological control instead of chemical control on these weeds. The avoided cost was used as the main benefit component when deriving the relative benefit cost ratios (BCR). Two scenarios were used, one assuming no follow-up requirement and the other assuming one follow-up requirement for chemical control. Using an 8% discount rate, the study found that the estimated cost of the biological control method on all four aquatic weeds was about R7,843,205 while for chemical control the estimated costs would have costed R149,580,142, R268,264,838 and R881,711,738 for application by means of a boat, bakkie and knapsack. Chemical control cost estimates would have increased to about R164,538,052, R295,216,120 and R1,008,761,000 for boat, bakkie and knapsack approach respectively when including a possible follow-up programme. These would have led to positive BCRs of 90.24:1, 164.97:1 and 557.99:1 across the three chemical control approaches without a follow-up (with BCR of about 99.67:1, 182.00:1 and 631.56:1 for the boat, bakkie and knapsack approach respectively with the accepted follow-up programme). When running a sensitivity test with varying discount rates of 5% and 10%, these results remained robust. As such, failing to reject the dominant hypothesis in literature, the main conclusion of the study is that biological control is indeed the more cost-effective management option compared to chemical control with respect to herbicide cost-saving. Further, biological control is most-likely to produce more environmental cost-saving and water-saving over chemical control. The study recommends the continued use of the biological control investment on the four aquatic weeds under study as well as on emerging aquatic weeds such as Iris pseudacorus, Nymphaea mexicana and Sagittaria platyphylla in South Africa.
- Full Text:
- Date Issued: 2020
Exploring the Employee-Supervisor relationship in the Credit Recovery Department of a Financial institution
- Authors: Ndamse, Asanda Vuyo
- Date: 2020
- Subjects: Financial institutions -- South Africa -- Leadership Collection agencies -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49975 , vital:41966
- Description: This study aimed to investigate and understand employee-supervisor relationship working in the credit recovery department of a large South African financial institution. The focus of the investigation, through qualitative research, was on numerous issues relating to their experiences working within a financial institution. The Credit Recovery Department which had nine separate divisions were particularly concerned about three main areas from survey results that they conduct yearly. The respondents to the survey were the call centre agents and team leaders. The employees surveyed felt that there was insufficient recognition for their contribution, the supervisor did not facilitate productive team engagements, and there was a lack of provision of formal and self-directed learning opportunities. These aspects were viewed as highly critical aspects of the employee-supervisor relationship and important to achieving set departmental objectives. Due to a lack of understanding of the cause of the perceptions captured by the survey, the main purpose of the study was to explore the employees’ attitudes, feelings, beliefs, experiences, reactions and concerns about the way their contributions were recognised, team engagements were facilitated, and the lack of formal and self-directed learning opportunities. From the ten questions that were asked, the three lowest scored questions were then put to the focus groups. The questions were tailored as open-ended, conversational questions with a specific focus on the three concerning areas. The first major theme that emerged from all focus groups is leadership and the style of leadership. Secondly, growth and development were a concern again for both call centre agents and team leaders, and issues were raised throughout the sessions, not only in response to the question on selfdirected learning. Further major themes that emerged were rewards and benefits, and lastly workload and systems. The findings from this study are anticipated to have important policy implications while meeting set standards for the employee-supervisor relationship status.
- Full Text:
- Date Issued: 2020
- Authors: Ndamse, Asanda Vuyo
- Date: 2020
- Subjects: Financial institutions -- South Africa -- Leadership Collection agencies -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49975 , vital:41966
- Description: This study aimed to investigate and understand employee-supervisor relationship working in the credit recovery department of a large South African financial institution. The focus of the investigation, through qualitative research, was on numerous issues relating to their experiences working within a financial institution. The Credit Recovery Department which had nine separate divisions were particularly concerned about three main areas from survey results that they conduct yearly. The respondents to the survey were the call centre agents and team leaders. The employees surveyed felt that there was insufficient recognition for their contribution, the supervisor did not facilitate productive team engagements, and there was a lack of provision of formal and self-directed learning opportunities. These aspects were viewed as highly critical aspects of the employee-supervisor relationship and important to achieving set departmental objectives. Due to a lack of understanding of the cause of the perceptions captured by the survey, the main purpose of the study was to explore the employees’ attitudes, feelings, beliefs, experiences, reactions and concerns about the way their contributions were recognised, team engagements were facilitated, and the lack of formal and self-directed learning opportunities. From the ten questions that were asked, the three lowest scored questions were then put to the focus groups. The questions were tailored as open-ended, conversational questions with a specific focus on the three concerning areas. The first major theme that emerged from all focus groups is leadership and the style of leadership. Secondly, growth and development were a concern again for both call centre agents and team leaders, and issues were raised throughout the sessions, not only in response to the question on selfdirected learning. Further major themes that emerged were rewards and benefits, and lastly workload and systems. The findings from this study are anticipated to have important policy implications while meeting set standards for the employee-supervisor relationship status.
- Full Text:
- Date Issued: 2020
A critical analysis of selected clauses in selected Double Tax Agreements (DTAs) with South Africa
- Authors: Ndzimakhwe, Vusumzi Allen
- Date: 2020
- Subjects: Double taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49986 , vital:41967
- Description: The purpose of this treatise was to analyse selected clauses in selected double taxation agreements with South Africa. An integrative literature review research method was used. The study commenced with an overview of double tax agreements from both an international and South African perspective. This was followed by a critical analysis of the Mutual Agreement Procedures, the Most-Favoured Nation clause and the Non-discrimination obligation. Selected court cases domestic and foreign court cases were used to illustrate the gaps that sometimes exist between revenue authorities’ and taxpayers’ understanding of the clauses being studied. An analysis was then performed of the measures and their appropriateness that South Africa can implement to close the loopholes arising from the selected clauses. This was informed by the action plans suggested by the OECD and the Davis Tax Committee on base erosion and profit shifting. The study then concluded with a synopsis of the key findings of the selected clauses and their recommendations. Finally recommendations were made for areas of further research which might assist in closing the loopholes arising from the words employed within double tax agreements and the intention of the legislature/the executive can be closed.
- Full Text:
- Date Issued: 2020
- Authors: Ndzimakhwe, Vusumzi Allen
- Date: 2020
- Subjects: Double taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49986 , vital:41967
- Description: The purpose of this treatise was to analyse selected clauses in selected double taxation agreements with South Africa. An integrative literature review research method was used. The study commenced with an overview of double tax agreements from both an international and South African perspective. This was followed by a critical analysis of the Mutual Agreement Procedures, the Most-Favoured Nation clause and the Non-discrimination obligation. Selected court cases domestic and foreign court cases were used to illustrate the gaps that sometimes exist between revenue authorities’ and taxpayers’ understanding of the clauses being studied. An analysis was then performed of the measures and their appropriateness that South Africa can implement to close the loopholes arising from the selected clauses. This was informed by the action plans suggested by the OECD and the Davis Tax Committee on base erosion and profit shifting. The study then concluded with a synopsis of the key findings of the selected clauses and their recommendations. Finally recommendations were made for areas of further research which might assist in closing the loopholes arising from the words employed within double tax agreements and the intention of the legislature/the executive can be closed.
- Full Text:
- Date Issued: 2020