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
Investigation into the relationship between intrinsic motivation, intrinsic rewards, extrinsic rewards and work engagement among teachers in South Africa
- Authors: Wait, Sasha Ann
- Date: 2017
- Subjects: Motivation in education -- South Africa , Intrinsic motivation Motivation (Psychology)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/13557 , vital:27238
- Description: The primary objective of this mini-dissertation was to investigate whether a relationship exists between rewards, intrinsic motivation, work engagement among school teachers in South Africa. A further aim was to determine if work engagement has a moderating effect on the relationship between rewards and intrinsic motivation. The researcher further investigated whether demographic differences occurred across the three constructs studied. The study made use of quantitative research to achieve the above-mentioned objectives. The researcher made use of Ulrechs Work Engagement Scales (UWES), Intrinsic Work Motivation Scale (IWMS) and the Organisational Rewards Scale (ORS) to measure the mentioned relationships. The ORS was qualitatively piloted on a sample of primary school teachers in a Non-governmental institution. After refinement, a composite questionnaire was electronically completed by 207 teachers within South Africa. Data analysis was conducted in the form of descriptive and inferential statistics, including Cronbach’s alpha testing, Pearson’s Product Moment Correlations, t-tests, analysis of variance and structural equation modelling. The quantitative findings suggested that rewards lead to higher levels of Work Engagement, which in turn causes higher levels of Intrinsic Motivation. Thus, there was full mediation of rewards onto intrinsic rewards through work engagement From a demographics perspective, practically significant differences were discovered between NGO’s and Government High Schools for Rewards. In addition to these results, age differences were discovered across Work Engagement and job level differences were discovered for Intrinsic Motivation, together with significant correlations between the three constructs. These results theoretically contribute to the validation of the newly developed Intrinsic Work Motivation Scale. Furthermore, the results make a valuable contribution to the field of rewards management for teachers in South Africa.
- Full Text:
- Date Issued: 2017
- Authors: Wait, Sasha Ann
- Date: 2017
- Subjects: Motivation in education -- South Africa , Intrinsic motivation Motivation (Psychology)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/13557 , vital:27238
- Description: The primary objective of this mini-dissertation was to investigate whether a relationship exists between rewards, intrinsic motivation, work engagement among school teachers in South Africa. A further aim was to determine if work engagement has a moderating effect on the relationship between rewards and intrinsic motivation. The researcher further investigated whether demographic differences occurred across the three constructs studied. The study made use of quantitative research to achieve the above-mentioned objectives. The researcher made use of Ulrechs Work Engagement Scales (UWES), Intrinsic Work Motivation Scale (IWMS) and the Organisational Rewards Scale (ORS) to measure the mentioned relationships. The ORS was qualitatively piloted on a sample of primary school teachers in a Non-governmental institution. After refinement, a composite questionnaire was electronically completed by 207 teachers within South Africa. Data analysis was conducted in the form of descriptive and inferential statistics, including Cronbach’s alpha testing, Pearson’s Product Moment Correlations, t-tests, analysis of variance and structural equation modelling. The quantitative findings suggested that rewards lead to higher levels of Work Engagement, which in turn causes higher levels of Intrinsic Motivation. Thus, there was full mediation of rewards onto intrinsic rewards through work engagement From a demographics perspective, practically significant differences were discovered between NGO’s and Government High Schools for Rewards. In addition to these results, age differences were discovered across Work Engagement and job level differences were discovered for Intrinsic Motivation, together with significant correlations between the three constructs. These results theoretically contribute to the validation of the newly developed Intrinsic Work Motivation Scale. Furthermore, the results make a valuable contribution to the field of rewards management for teachers in South Africa.
- Full Text:
- Date Issued: 2017
Measuring the industry maturity of the South African export table grape industry
- Authors: De Bruyn, Corean
- Date: 2019
- Subjects: Exports -- South Africa , Fruit trade -- South Africa Agriculture -- Economic aspects -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39403 , vital:35243
- Description: Despite the fact that the South African export table grape industry is more than a century old, studies which focus on the development of the industry have not previously been conducted. The main aim of this study was to measure the phase of maturity of the South African export table grape industry. The industry life cycle model was a main focus point to measure the maturity of the South African export table grape industry and as such has been used to analyse the dynamics of the South African export table grape industry. An expansive literature study was conducted to identify as many variables as possible that serve as indicators of the phase of maturity. A measuring instrument, in the form of a questionnaire, was developed, based on these identified variables. A randomly selected sample of 214 export table grape producers completed the questionnaire. Five main export table grape regions are present in South Africa, namely, the Hex River Valley region, the Berg River region, the Olifants River region, the Orange River region and the Northern Province region. An exploratory factor analysis was used to disentangle and reduce the large number of variables. From the factor analysis, four distinct factors emerged, namely: Manufacturing and Distribution, Demand, Research and Development, and Buyer Segments. Cronbach’s coefficient alpha was employed to confirm the reliability and internal consistency of the measuring instrument. The mean scores and standard deviations were used to determine the strength of direction of each of the four variables, followed by a t-test to determine the differences in development between the five regions. Finally, the Pearson’s Product Moment Correlations were calculated for investigating the correlations between the variables used. The findings indicated that, among the five-export table grape regions in South Africa, Manufacturing and Distribution have evolved beyond the introductory phase, but that there is still considerable scope for growth in all the regions. Additionally, there are significant differences between the five regions, thereby indicating that the industry exhibits uneven development with some of the regions being further along the path of development. Demand delivered the second highest mean score and the smallest variation among the five regions. This indicates that export table grapes from South African producers have a loyal customer base. The mean score, however, still indicated that the industry as a whole is in the growth phase of development. Research and Development delivered the highest mean score, thereby signifying the industry’s commitment to research and development. This once again points to an industry being in the growth phase of development. The average mean score delivered by Buyer Segments indicates that the market has begun to fragment. This provides opportunities to create and exploit niche marks. This too conforms to the characteristics of the growth phase in the industry life cycle model. In essence, the current study provided useful information regarding the evolution of the South African export table grape industry. Moreover, a foundation has been laid for further research to be conducted in the industry life cycle of the South African export table grape industry.
- Full Text:
- Date Issued: 2019
- Authors: De Bruyn, Corean
- Date: 2019
- Subjects: Exports -- South Africa , Fruit trade -- South Africa Agriculture -- Economic aspects -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39403 , vital:35243
- Description: Despite the fact that the South African export table grape industry is more than a century old, studies which focus on the development of the industry have not previously been conducted. The main aim of this study was to measure the phase of maturity of the South African export table grape industry. The industry life cycle model was a main focus point to measure the maturity of the South African export table grape industry and as such has been used to analyse the dynamics of the South African export table grape industry. An expansive literature study was conducted to identify as many variables as possible that serve as indicators of the phase of maturity. A measuring instrument, in the form of a questionnaire, was developed, based on these identified variables. A randomly selected sample of 214 export table grape producers completed the questionnaire. Five main export table grape regions are present in South Africa, namely, the Hex River Valley region, the Berg River region, the Olifants River region, the Orange River region and the Northern Province region. An exploratory factor analysis was used to disentangle and reduce the large number of variables. From the factor analysis, four distinct factors emerged, namely: Manufacturing and Distribution, Demand, Research and Development, and Buyer Segments. Cronbach’s coefficient alpha was employed to confirm the reliability and internal consistency of the measuring instrument. The mean scores and standard deviations were used to determine the strength of direction of each of the four variables, followed by a t-test to determine the differences in development between the five regions. Finally, the Pearson’s Product Moment Correlations were calculated for investigating the correlations between the variables used. The findings indicated that, among the five-export table grape regions in South Africa, Manufacturing and Distribution have evolved beyond the introductory phase, but that there is still considerable scope for growth in all the regions. Additionally, there are significant differences between the five regions, thereby indicating that the industry exhibits uneven development with some of the regions being further along the path of development. Demand delivered the second highest mean score and the smallest variation among the five regions. This indicates that export table grapes from South African producers have a loyal customer base. The mean score, however, still indicated that the industry as a whole is in the growth phase of development. Research and Development delivered the highest mean score, thereby signifying the industry’s commitment to research and development. This once again points to an industry being in the growth phase of development. The average mean score delivered by Buyer Segments indicates that the market has begun to fragment. This provides opportunities to create and exploit niche marks. This too conforms to the characteristics of the growth phase in the industry life cycle model. In essence, the current study provided useful information regarding the evolution of the South African export table grape industry. Moreover, a foundation has been laid for further research to be conducted in the industry life cycle of the South African export table grape industry.
- Full Text:
- Date Issued: 2019
The intention of third party logistics service providers to adopt environmentally sustainable practices
- Authors: Jappie, Abdul-Gasiep
- Date: 2018
- Subjects: Business logistics -- South Africa , Physical distribution of goods -- South Africa -- Management Industrial procurement -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/30605 , vital:30975
- Description: With the increase in global trade, an escalation of industry competition, greater customer expectations and increasingly larger and more complex supply chains, third-party logistics (3PL) providers play an increasingly important role in international trade. Driven by globalisation and the advances in information technology, 3PL services have experienced unprecedented growth around the world. Given its prominence in global trade, 3PL service providers have, since the late 1980’s, attracted increased scholarly attention and as such, many practitioners regard 3PL providers as integral to external parties that may be consulted for any and all matters related to logistics service, and that are often engaged in the strategic coordination of businesses supply chain activities. Although the body of literature concerned with environmental issues in disciplines such as production and marketing have grown, similar literature involving logistics has been scarce, but expanding. Notwithstanding this growing literature, more research on environmental issues within the logistics industry is required, since the logistics service industry may have a greater negative environmental impact than other service sectors. Despite extensive scientific literature on the outsourcing of logistics functions and 3PL strategy, comparatively fewer studies on environmental sustainability exist in the 3PL industry. It is against this background that the main research question to be addressed in this study is which factors influence the intentions of 3PL service providers to adopt environmentally sustainable practices. A quantitative research methodology was adopted in this study to empirically test the proposed hypothetical model. By means of non-probability sampling, namely convenience sampling, a total of 122 3PL service providers were targeted within Nelson Mandela Bay during the empirical study. This was done by means of a survey using a self-administered structured questionnaire. Descriptive statistics and frequency distributions were utilised to summarise the data collected from the sample. To test the hypothesised relationships in the theoretical model, multiple regression analyses were used. The influence of three internal factors (management support, organisational culture and availability of resources) three external factors (competitive pressure, customer pressure and government influences) on the intention of 3PL service providers to adopt environmentally sustainable practices xii were assessed. The findings of this analysis showed that management and organisational support, customer pressures and government influences and have a significant influence on the intention to adopt environmentally sustainable practices for these businesses. The findings of this study have contributed to the body of knowledge regarding the intentions of 3PL service providers to adopt environmentally sustainable practices. The study used a sound and well-developed research design and methodology which have been justified and applied. This can be utilised by other similar studies to conduct empirical research in the field of adopting sustainable business practices. The measuring instrument and hypothetical model developed can also be used by organisations in other industries to investigate intentions to adopt sustainable practices. This study also provided useful and very practical guidelines to 3PL service providers as to ensure effective adoption of sustainable business practices.
- Full Text:
- Date Issued: 2018
- Authors: Jappie, Abdul-Gasiep
- Date: 2018
- Subjects: Business logistics -- South Africa , Physical distribution of goods -- South Africa -- Management Industrial procurement -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/30605 , vital:30975
- Description: With the increase in global trade, an escalation of industry competition, greater customer expectations and increasingly larger and more complex supply chains, third-party logistics (3PL) providers play an increasingly important role in international trade. Driven by globalisation and the advances in information technology, 3PL services have experienced unprecedented growth around the world. Given its prominence in global trade, 3PL service providers have, since the late 1980’s, attracted increased scholarly attention and as such, many practitioners regard 3PL providers as integral to external parties that may be consulted for any and all matters related to logistics service, and that are often engaged in the strategic coordination of businesses supply chain activities. Although the body of literature concerned with environmental issues in disciplines such as production and marketing have grown, similar literature involving logistics has been scarce, but expanding. Notwithstanding this growing literature, more research on environmental issues within the logistics industry is required, since the logistics service industry may have a greater negative environmental impact than other service sectors. Despite extensive scientific literature on the outsourcing of logistics functions and 3PL strategy, comparatively fewer studies on environmental sustainability exist in the 3PL industry. It is against this background that the main research question to be addressed in this study is which factors influence the intentions of 3PL service providers to adopt environmentally sustainable practices. A quantitative research methodology was adopted in this study to empirically test the proposed hypothetical model. By means of non-probability sampling, namely convenience sampling, a total of 122 3PL service providers were targeted within Nelson Mandela Bay during the empirical study. This was done by means of a survey using a self-administered structured questionnaire. Descriptive statistics and frequency distributions were utilised to summarise the data collected from the sample. To test the hypothesised relationships in the theoretical model, multiple regression analyses were used. The influence of three internal factors (management support, organisational culture and availability of resources) three external factors (competitive pressure, customer pressure and government influences) on the intention of 3PL service providers to adopt environmentally sustainable practices xii were assessed. The findings of this analysis showed that management and organisational support, customer pressures and government influences and have a significant influence on the intention to adopt environmentally sustainable practices for these businesses. The findings of this study have contributed to the body of knowledge regarding the intentions of 3PL service providers to adopt environmentally sustainable practices. The study used a sound and well-developed research design and methodology which have been justified and applied. This can be utilised by other similar studies to conduct empirical research in the field of adopting sustainable business practices. The measuring instrument and hypothetical model developed can also be used by organisations in other industries to investigate intentions to adopt sustainable practices. This study also provided useful and very practical guidelines to 3PL service providers as to ensure effective adoption of sustainable business practices.
- Full Text:
- Date Issued: 2018
A comparative study of South Africa's vat rate
- Authors: Pieterse, Marli
- Date: 2018
- Subjects: Value-added tax -- South Africa , Value-added tax -- Law and legislation -- South Africa Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23049 , vital:30401
- Description: This treatise compared South Africa's VAT rate to the VAT rate trends of other developing counties (such as Brazil and India), as well as international VAT rate developments. Brazil introduced VAT in 1965 and currently has a multi-dimensional VAT rate system consists of five types of VAT, each type of taxing consumers a t different rate depending on the type of product, the municipality or the consumer's turnover. Brazil's average VAT rate is currently 19%. India moved from an origin-based VAT rate system to a GST rate system in 2017. Their GST system levies VAT on a federal level. as well as a state level and on all interstate transactions. India's GST rates varies depending on the luxurious nature of the supply and their average GST rate is currently 15%. South Africa VAT in 1991 and it comprises of a single-rate VAT system where goods and services of vendors are taxed at 14%, unless the specific goods or services fall under the list of exepted or zero-rated items. South Africa's VAT rate remained unchanged since 1993. Per the research it was noted that despite facing similar political, economical and social dilemmas, developing countries such as India and Brazil changed their VAT rates numerous time since its inception, where South Africa only increased their VAT rate once. Brazil and India furthermore have higher average VAT rates than South Africa, despite correlation with the respective poverty levels indicating otherwise.
- Full Text: false
- Date Issued: 2018
- Authors: Pieterse, Marli
- Date: 2018
- Subjects: Value-added tax -- South Africa , Value-added tax -- Law and legislation -- South Africa Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23049 , vital:30401
- Description: This treatise compared South Africa's VAT rate to the VAT rate trends of other developing counties (such as Brazil and India), as well as international VAT rate developments. Brazil introduced VAT in 1965 and currently has a multi-dimensional VAT rate system consists of five types of VAT, each type of taxing consumers a t different rate depending on the type of product, the municipality or the consumer's turnover. Brazil's average VAT rate is currently 19%. India moved from an origin-based VAT rate system to a GST rate system in 2017. Their GST system levies VAT on a federal level. as well as a state level and on all interstate transactions. India's GST rates varies depending on the luxurious nature of the supply and their average GST rate is currently 15%. South Africa VAT in 1991 and it comprises of a single-rate VAT system where goods and services of vendors are taxed at 14%, unless the specific goods or services fall under the list of exepted or zero-rated items. South Africa's VAT rate remained unchanged since 1993. Per the research it was noted that despite facing similar political, economical and social dilemmas, developing countries such as India and Brazil changed their VAT rates numerous time since its inception, where South Africa only increased their VAT rate once. Brazil and India furthermore have higher average VAT rates than South Africa, despite correlation with the respective poverty levels indicating otherwise.
- Full Text: false
- Date Issued: 2018
The determinants of economic growth in BRICS Countries
- Authors: Nyirenda, Chimwemwe
- Date: 2019
- Subjects: Economic development -- BRIC countries , BRIC countries -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42946 , vital:36713
- Description: One of the key goals of the formation of BRICS (Brazil, Russia, India, China and South Africa) was to promote stability in trade and investment which would boost growth as the five BRICS countries recovered from the 2009 global financial crisis. This however has not been the case for all BRICS countries where only certain members have experienced a substantial increase in growth while others have experienced declining growth rates. The objective of this study was to analyse the determinants of economic growth in BRICS countries in order to investigate the causes of growth rates varying amongst the BRICS economies. This paper considered various economic theories for proximate and fundamental determinants of growth which included: The Harrod-Domar model, The Neoclassical Growth Theory, The Endogenous Growth Model, The New Growth Theory, Institutions and Economic Growth, Democracy, The Quality of Governance and Growth, Finance and Growth, Trade and Economic Growth and lastly Financial Openness and Growth. The study was conducted for a period covering from 1995 to 2016 and made use of the Autoregressive Distributed Lag (ARDL) model for the single-country analysis and Pooled Mean Group (PMG) was used for the panel analysis. In the single-country analysis, the descriptive statistics indicated that individually all of the BRICS members on average experienced positive GDP growth, positive investment (capital formation) and trade openness between 1995 to 2016. The single-country analysis made use of the ARDL Bounds test to investigate cointegration in each country and a long-run relationship was established in all BRICS countries except for China. The augmented Solow model was extended to incorporate both proximate and fundamental determinants of growth. The estimated results for the ARDL model found that capital and trade openness were significant in determining GDP growth for all of the BRICS countries except for China. FDI was insignificant in determining growth in BRICS countries except for India and the remaining variables gave mixed results between the countries. The error correction term (ECT) was significant and negative in all of the BRICS countries (except for China) which indicated that there was convergence. In the panel analysis, a long-run relationship was established using the KAO Residual cointegration test. The panel correlations test for BRICS revealed that GDP growth had a positive correlation with all the variables under analysis except for inflation which was in line with the anticipated correlations. The PMG estimated results for BRICS found that the proximate determinants (capital and labour) were both significant in determining growth in the long-run where capital had a positive relationship and labour had a negative relationship with growth. Trade openness, inflation and FDI were significant in determining growth in the long-run, though government expenditure was insignificant in determining growth. The error correction term for BRICS illustrated that there was convergence and 92% of the disequilibrium in the short-run is corrected each year. The analysis revealed that BRICS economies should adopt more policies that encourage domestic investment and trade in order to boost growth. Policies such as relaxing local corporation taxes can encourage domestic investment which will aid local businesses in competing against foreign competition. Countries such as Brazil, India and South Africa can adopt more policies that encourage the development and growth of SMME’s. An area for future research would be to incorporate a location variable into the fundamental determinants of growth where the analysis could be conducted per region in each of the BRICS countries, which would give a broader view on which regions are determining growth in BRICS countries.
- Full Text:
- Date Issued: 2019
- Authors: Nyirenda, Chimwemwe
- Date: 2019
- Subjects: Economic development -- BRIC countries , BRIC countries -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42946 , vital:36713
- Description: One of the key goals of the formation of BRICS (Brazil, Russia, India, China and South Africa) was to promote stability in trade and investment which would boost growth as the five BRICS countries recovered from the 2009 global financial crisis. This however has not been the case for all BRICS countries where only certain members have experienced a substantial increase in growth while others have experienced declining growth rates. The objective of this study was to analyse the determinants of economic growth in BRICS countries in order to investigate the causes of growth rates varying amongst the BRICS economies. This paper considered various economic theories for proximate and fundamental determinants of growth which included: The Harrod-Domar model, The Neoclassical Growth Theory, The Endogenous Growth Model, The New Growth Theory, Institutions and Economic Growth, Democracy, The Quality of Governance and Growth, Finance and Growth, Trade and Economic Growth and lastly Financial Openness and Growth. The study was conducted for a period covering from 1995 to 2016 and made use of the Autoregressive Distributed Lag (ARDL) model for the single-country analysis and Pooled Mean Group (PMG) was used for the panel analysis. In the single-country analysis, the descriptive statistics indicated that individually all of the BRICS members on average experienced positive GDP growth, positive investment (capital formation) and trade openness between 1995 to 2016. The single-country analysis made use of the ARDL Bounds test to investigate cointegration in each country and a long-run relationship was established in all BRICS countries except for China. The augmented Solow model was extended to incorporate both proximate and fundamental determinants of growth. The estimated results for the ARDL model found that capital and trade openness were significant in determining GDP growth for all of the BRICS countries except for China. FDI was insignificant in determining growth in BRICS countries except for India and the remaining variables gave mixed results between the countries. The error correction term (ECT) was significant and negative in all of the BRICS countries (except for China) which indicated that there was convergence. In the panel analysis, a long-run relationship was established using the KAO Residual cointegration test. The panel correlations test for BRICS revealed that GDP growth had a positive correlation with all the variables under analysis except for inflation which was in line with the anticipated correlations. The PMG estimated results for BRICS found that the proximate determinants (capital and labour) were both significant in determining growth in the long-run where capital had a positive relationship and labour had a negative relationship with growth. Trade openness, inflation and FDI were significant in determining growth in the long-run, though government expenditure was insignificant in determining growth. The error correction term for BRICS illustrated that there was convergence and 92% of the disequilibrium in the short-run is corrected each year. The analysis revealed that BRICS economies should adopt more policies that encourage domestic investment and trade in order to boost growth. Policies such as relaxing local corporation taxes can encourage domestic investment which will aid local businesses in competing against foreign competition. Countries such as Brazil, India and South Africa can adopt more policies that encourage the development and growth of SMME’s. An area for future research would be to incorporate a location variable into the fundamental determinants of growth where the analysis could be conducted per region in each of the BRICS countries, which would give a broader view on which regions are determining growth in BRICS countries.
- Full Text:
- Date Issued: 2019
Efficient market hypothesis in South Africa: an analysis using the flexible form unit root test
- Authors: Nomatye, Anelisa
- Date: 2019
- Subjects: Stocks -- Prices -- South Africa , Stock exchanges -- South Africa Stocks -- South Africa Johannesburg Stock Exchange Economic indicators -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42825 , vital:36697
- Description: An efficient stock market is characterised by prices that are reflective of all the information such that there are no opportunities for arbitrageurs. In an efficient market, it is impossible to beat the market, therefore it follows that stock prices in an efficient market should follow a random walk. This study investigates whether the Johannesburg Stock Exchange (JSE) is an efficient market using the JSE Top 40 listed stocks, thus the relevance of the EMH in the current South African market is analysed. A corerlation analysis is undertaken to find whether the individual stocks in the different sectors are correlated in their returns, or if there are any intersector correlations. This analysis showed that individual sector stocks are mostly correlated, however, the individual sector stocks do not show a relationship with common sectors. The data used is monthly data of the individual stocks from 31 January 1999 to 30 June 2018. The study takes into consideration that the period is post the Asian Contagion and during the dot.com bubble. Also considered is the Global Financial crisis that occurred in 2007/2008. The study period thus allows enough time for market corerction. The study utilises the conventional unit root tests; the augmented Dickey-Fuller (ADF), Phillips- Perron (PP) and the Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests. Also utilised are modified unit root tests of Elliot, Rothenburg and Stock (ERS) (1996) as well as Ng and Perron (2001). Due to criticisms of the initially utilised unit roots, the nonlinear test of Kapetanois et al. (2003) and the Flexible Fourier form (FFF) is employed. Based on the empirical analysis, the study demonstrates that although the studies received conflicting evidence the FFF demonstrates the most “power” of the tests, thus is deemed to provide more accurate results. This test provided evidence of stationarity in the JSE market, thus implying inefficiency. The results were different for only two of the forty stocks, namely, Shoprite and Bidvest which implied efficiency. The study thus found that the EMH is not relevant to the current South African market and other theories should be considered in analysing the market. This also provides a case for behavioural finance to be analysed, as the assumption that all investors are rational is questioned.
- Full Text:
- Date Issued: 2019
- Authors: Nomatye, Anelisa
- Date: 2019
- Subjects: Stocks -- Prices -- South Africa , Stock exchanges -- South Africa Stocks -- South Africa Johannesburg Stock Exchange Economic indicators -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/42825 , vital:36697
- Description: An efficient stock market is characterised by prices that are reflective of all the information such that there are no opportunities for arbitrageurs. In an efficient market, it is impossible to beat the market, therefore it follows that stock prices in an efficient market should follow a random walk. This study investigates whether the Johannesburg Stock Exchange (JSE) is an efficient market using the JSE Top 40 listed stocks, thus the relevance of the EMH in the current South African market is analysed. A corerlation analysis is undertaken to find whether the individual stocks in the different sectors are correlated in their returns, or if there are any intersector correlations. This analysis showed that individual sector stocks are mostly correlated, however, the individual sector stocks do not show a relationship with common sectors. The data used is monthly data of the individual stocks from 31 January 1999 to 30 June 2018. The study takes into consideration that the period is post the Asian Contagion and during the dot.com bubble. Also considered is the Global Financial crisis that occurred in 2007/2008. The study period thus allows enough time for market corerction. The study utilises the conventional unit root tests; the augmented Dickey-Fuller (ADF), Phillips- Perron (PP) and the Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests. Also utilised are modified unit root tests of Elliot, Rothenburg and Stock (ERS) (1996) as well as Ng and Perron (2001). Due to criticisms of the initially utilised unit roots, the nonlinear test of Kapetanois et al. (2003) and the Flexible Fourier form (FFF) is employed. Based on the empirical analysis, the study demonstrates that although the studies received conflicting evidence the FFF demonstrates the most “power” of the tests, thus is deemed to provide more accurate results. This test provided evidence of stationarity in the JSE market, thus implying inefficiency. The results were different for only two of the forty stocks, namely, Shoprite and Bidvest which implied efficiency. The study thus found that the EMH is not relevant to the current South African market and other theories should be considered in analysing the market. This also provides a case for behavioural finance to be analysed, as the assumption that all investors are rational is questioned.
- Full Text:
- Date Issued: 2019
The effects of inflation on economic growth and unemployment in light of the global financial crisis in BRICS countries
- Authors: Falakahla, Lwazi
- Date: 2019
- Subjects: Inflation (Finance) -- BRIC countries , Economic development -- BRIC countries Unemployment -- BRIC countries Monetary policy , Global Financial Crisis, 2008-2009
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39829 , vital:35477
- Description: The key critical role played by Central Banks’ monetary policy and government macroeconomic policy relies on precise and timely forecasts on economic growth along the business cycle periods. In the past, many emerging countries have been facing problems of high escalating inflationary prices. This dissertation is set out to examine the influence of inflation on output growth and unemployment considering the global financial crisis in BRICS countries using annual data collected over the period 1980 to 2016. The study is divided into two sections; namely macroeconomic policy and monetary policy principles. The empirical analyses are computed through using the Autoregressive Distributed Lag (ARDL) approach proposed by Pesaran et al. (2001). The macroeconomic policy findings show that there is a negative long run relationship between inflation and economic growth in Russia and South Africa. The study’s ARDL bounds test for cointegration results also indicated that there is statistically significant long run comovement between inflation and economic growth in all BRICS countries. The study results also provided that there is an existence of a negative short run relationship between inflation and economic growth in South Africa. The Phillips curve results indicated that a positive long run trade-off between inflation and unemployment is found and no short run relationship discovered. It is also revealed that the long run co-movement between inflation and unemployment only exists in Russia and South Africa. The study is significant because it contributes to the empirical determinants of long term prosperity of the BRICS partners.
- Full Text:
- Date Issued: 2019
- Authors: Falakahla, Lwazi
- Date: 2019
- Subjects: Inflation (Finance) -- BRIC countries , Economic development -- BRIC countries Unemployment -- BRIC countries Monetary policy , Global Financial Crisis, 2008-2009
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/39829 , vital:35477
- Description: The key critical role played by Central Banks’ monetary policy and government macroeconomic policy relies on precise and timely forecasts on economic growth along the business cycle periods. In the past, many emerging countries have been facing problems of high escalating inflationary prices. This dissertation is set out to examine the influence of inflation on output growth and unemployment considering the global financial crisis in BRICS countries using annual data collected over the period 1980 to 2016. The study is divided into two sections; namely macroeconomic policy and monetary policy principles. The empirical analyses are computed through using the Autoregressive Distributed Lag (ARDL) approach proposed by Pesaran et al. (2001). The macroeconomic policy findings show that there is a negative long run relationship between inflation and economic growth in Russia and South Africa. The study’s ARDL bounds test for cointegration results also indicated that there is statistically significant long run comovement between inflation and economic growth in all BRICS countries. The study results also provided that there is an existence of a negative short run relationship between inflation and economic growth in South Africa. The Phillips curve results indicated that a positive long run trade-off between inflation and unemployment is found and no short run relationship discovered. It is also revealed that the long run co-movement between inflation and unemployment only exists in Russia and South Africa. The study is significant because it contributes to the empirical determinants of long term prosperity of the BRICS partners.
- Full Text:
- Date Issued: 2019
The relationship between reward preferences and occupational stress within the South African law environment
- Authors: Orban, Shanice
- Date: 2019
- Subjects: Psychology, Industrial , Stress (Psychology) -- Research Job stress
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/43101 , vital:36735
- Description: The primary objective of this dissertation was to investigate the relationship between reward preferences and occupational stress within the South African law environment. In order to achieve this objective, the researcher tested a theoretical model using regression analysis, and made use of Pearson’s Product Moment Correlations. A further aim was to investigate whether differences existed according to different types of lawyers with regards to these constructs. This was done using t-Tests and analysis of variance tests. The questionnaire was completed by a total of 207 lawyers spanning across 21 law firms, in both the Eastern and Western Cape. Data analysis was conducted using descriptive statistics which included frequency tables, and pie charts, and the aforementioned inferential statistics. The findings revealed a number of correlations between the factors of the two constructs, and significant differences with regards to the amount of stress experienced by employees within the law environment compared to the general population. The proposed theoretical model could be partially accepted as it showed that a correlation exists between Occupational Stress and the reward preference factors of Contingency Pay, Performance and Career Management, Quality Work Environment and Work/Home Integration, with no significant correlation between Occupational Stress and Base Pay and Benefits. Moreover, there was a statistically significant correlation between Distress and Reward Preferences, with no significant correlation between Coping Ability and Reward Preferences. The results of this study theoretically contribute to the area of reward preferences, and have uncovered a new area whereby reward preferences are shown to be related to occupational stress. The findings of this study hold important implications for the effective management and retention of key employees in the law environment within the South African context.
- Full Text:
- Date Issued: 2019
- Authors: Orban, Shanice
- Date: 2019
- Subjects: Psychology, Industrial , Stress (Psychology) -- Research Job stress
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/43101 , vital:36735
- Description: The primary objective of this dissertation was to investigate the relationship between reward preferences and occupational stress within the South African law environment. In order to achieve this objective, the researcher tested a theoretical model using regression analysis, and made use of Pearson’s Product Moment Correlations. A further aim was to investigate whether differences existed according to different types of lawyers with regards to these constructs. This was done using t-Tests and analysis of variance tests. The questionnaire was completed by a total of 207 lawyers spanning across 21 law firms, in both the Eastern and Western Cape. Data analysis was conducted using descriptive statistics which included frequency tables, and pie charts, and the aforementioned inferential statistics. The findings revealed a number of correlations between the factors of the two constructs, and significant differences with regards to the amount of stress experienced by employees within the law environment compared to the general population. The proposed theoretical model could be partially accepted as it showed that a correlation exists between Occupational Stress and the reward preference factors of Contingency Pay, Performance and Career Management, Quality Work Environment and Work/Home Integration, with no significant correlation between Occupational Stress and Base Pay and Benefits. Moreover, there was a statistically significant correlation between Distress and Reward Preferences, with no significant correlation between Coping Ability and Reward Preferences. The results of this study theoretically contribute to the area of reward preferences, and have uncovered a new area whereby reward preferences are shown to be related to occupational stress. The findings of this study hold important implications for the effective management and retention of key employees in the law environment within the South African context.
- Full Text:
- Date Issued: 2019
Specific service level expectations that automotive manufacturers have of third party logistics service providers in the Eastern Cape Province
- Authors: Pillay, Shandran
- Date: 2018
- Subjects: Business logistics -- South Africa -- Eastern Cape , Delivery of goods -- South Africa -- Eastern Cape -- Management Physical distribution of goods -- South Africa -- Eastern Cape -- Management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23108 , vital:30422
- Description: Very few business enterprises, whether as a service provider or manufacturer, operate in isolation. Most business enterprises have suppliers from whom they acquire their resource inputs (inbound processes), and customers to whom they supply (outbound processes) their outputs. These processes include logistics functions such as transportation, warehousing, information technology, packaging and design activities. In an effort to reduce costs, both these inbound and outbound processes are often outsourced to a third party when the business enterprise finds it too costly to do the processes by itself. Logistics outsourcing refers to an arrangement whereby a logistics service provider, called a third party logistics (3PL) service providers, performs services for a firm that could be, or have previously been, provided in-house. 3PL service providers have a strategic role to play especially in the business of automotive manufacturing firms. They act as external suppliers of logistical services that ensure the efficient and effective flow of resource inputs into the firm as well as final products to the end customer. Low cost, despite being a critical success factor, is not the only expectation. 3PL service providers are also expected to be flexible and versatile in its operations, and to cater for the needs of the manufacturing business strategy. Millions of Rands are spent on 3PL service providers, with the hope and belief that they will streamline business processes. Outsourcing of the logistics division to 3PL service providers reduces the costs of getting the right product to the right place for the consumer. Automotive manufacturing firms are not willing to add any costly service to the commodity which is not perceived as value-adding by the customer. Customers have always been classified as value conscious, but in recent times of economic difficulty and uncertainty, this has become even more apparent. This trend has caused many automotive manufacturing firms to prioritise cost saving, and logistics is no exception. The main objective of this study was to investigate the specific service level expectations that automotive manufacturing firms have of third party logistics (3PL) service providers in the Eastern Cape Province. In support of the main objective, it was necessary to source the reasons why automotive manufacturing firms in the Eastern Cape Province find it important to trade with 3PL service providers and to determine whether or not 3PL service providers are meeting the expectations of automotive manufacturing firms in the Province. Furthermore, the study set out to highlight the major problems currently associated with 3PL service providers, as well as to determine the consequences of unacceptable performance levels provided by 3PL service providers. Lastly, to identify the action plans that automotive manufacturing firms have to bring 3PL service providers in line with their expectations. As a starting point to the study, a literature review was undertaken which revealed that the supply chain philosophy is an important operation in any manufacturing environment. In order to satisfy the end customer, business organisations need to ensure that all supply chain operations are completed in the most efficient and effective manner. In addition, modern business strategies, also referred to as international trends, need to be practiced by principal manufacturing organisations in their quest to be more efficient, effective, competitive and successful in an ever-changing business environment. In order to achieve supply chain success, principal organisations need to ensure that all supply chain partners, particularly 3PL service providers, are aligned with the goals of the principal organisation’s supply chain. The review highlighted that business organisations need to review their selection methods for 3PL service providers on a continuous basis and only select providers that can tailor their service offerings according to the principal organisation’s needs. Therefore, in order for automotive manufactures to realise more potential from their 3PL service providers in the future, issues such as early 3PL service provider involvement, cost saving initiatives from 3PL service providers and 3PL service provider development, will become more crucial. Lastly, the review showed that the automotive industry plays a key role in developing countries as it is a significant contributor to GDP and provides a source of employment, which is much needed in South Africa. However, automotive logistics is a highly complex field, demanding considerable capital resources. One of the most important roles of 3PL service providers in the automotive industry is the management of cargos of goods within the supply chain. As a result, the automotive industry is becoming more based on a system of modularity, through a system of modular production. Logistics outsourcing is receiving increased attention, since it is a sector in which productivity and efficiency improvements are possible in order to lower operating costs, while improving customer services. However, 3PL service providers face significant barriers in developing countries such as stringent legal regulations, poor infrastructure and equipment, as well as a lack of competent manpower for efficient operations. This research was performed mainly within the positivist research paradigm of causality, since it was held by the researcher that there should be a clear causal relationship between the variables that may be observed to answer the research questions of this study. A simple random probability sample of participants from the research population of automotive manufacturing firms in the Eastern Cape Province was gathered, and the questions posed in the questionnaire of this study were structured using both Likert-scale and open-ended questions. In order to analyse the data, two popular quantitative data analysis techniques of descriptive statistical analysis and inferential statistical analysis were employed, with particular techniques of Correlation Analysis, Cronbach’s alpha, and tests for normality being performed. The empirical study revealed that the largest group was employed in the assembly sector, and the vast majority of the respondents made use of 3PL service providers for both sending and receiving components and parts. Almost all of the respondents outsourced transportation services to 3PL service providers. Most respondents were satisfied or very satisfied with their transportation 3PL service providers; but fewer were satisfied, and some were dissatisfied or very dissatisfied, with warehousing and VAS 3PL service providers. The range of mean values across all of the ‘consequences’ that had been caused due to inferior 3PL performance was concisely grouped, indicating that no single issue stood out as far more or less of a problem than the others; though three common problems noted were that respondents had not received parts and components on time, experienced production stoppages; and higher costs had impacted their organisations negatively. The Cronbach alphas of each of the transportation, warehousing, VAS and consequences data sets, combined, indicated that the data was reliable, and had suitable internal consistencies. The main corrective actions to be taken by automotive manufactures against 3PL service providers who fail to perform as promised are to impose a penalty as per the terms and conditions of the contract signed between the automotive manufacturing firm and the 3PL service provider or to cancel the contract and look for an alternative 3PL service provider if they do not have a back-up service provider.
- Full Text:
- Date Issued: 2018
- Authors: Pillay, Shandran
- Date: 2018
- Subjects: Business logistics -- South Africa -- Eastern Cape , Delivery of goods -- South Africa -- Eastern Cape -- Management Physical distribution of goods -- South Africa -- Eastern Cape -- Management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/23108 , vital:30422
- Description: Very few business enterprises, whether as a service provider or manufacturer, operate in isolation. Most business enterprises have suppliers from whom they acquire their resource inputs (inbound processes), and customers to whom they supply (outbound processes) their outputs. These processes include logistics functions such as transportation, warehousing, information technology, packaging and design activities. In an effort to reduce costs, both these inbound and outbound processes are often outsourced to a third party when the business enterprise finds it too costly to do the processes by itself. Logistics outsourcing refers to an arrangement whereby a logistics service provider, called a third party logistics (3PL) service providers, performs services for a firm that could be, or have previously been, provided in-house. 3PL service providers have a strategic role to play especially in the business of automotive manufacturing firms. They act as external suppliers of logistical services that ensure the efficient and effective flow of resource inputs into the firm as well as final products to the end customer. Low cost, despite being a critical success factor, is not the only expectation. 3PL service providers are also expected to be flexible and versatile in its operations, and to cater for the needs of the manufacturing business strategy. Millions of Rands are spent on 3PL service providers, with the hope and belief that they will streamline business processes. Outsourcing of the logistics division to 3PL service providers reduces the costs of getting the right product to the right place for the consumer. Automotive manufacturing firms are not willing to add any costly service to the commodity which is not perceived as value-adding by the customer. Customers have always been classified as value conscious, but in recent times of economic difficulty and uncertainty, this has become even more apparent. This trend has caused many automotive manufacturing firms to prioritise cost saving, and logistics is no exception. The main objective of this study was to investigate the specific service level expectations that automotive manufacturing firms have of third party logistics (3PL) service providers in the Eastern Cape Province. In support of the main objective, it was necessary to source the reasons why automotive manufacturing firms in the Eastern Cape Province find it important to trade with 3PL service providers and to determine whether or not 3PL service providers are meeting the expectations of automotive manufacturing firms in the Province. Furthermore, the study set out to highlight the major problems currently associated with 3PL service providers, as well as to determine the consequences of unacceptable performance levels provided by 3PL service providers. Lastly, to identify the action plans that automotive manufacturing firms have to bring 3PL service providers in line with their expectations. As a starting point to the study, a literature review was undertaken which revealed that the supply chain philosophy is an important operation in any manufacturing environment. In order to satisfy the end customer, business organisations need to ensure that all supply chain operations are completed in the most efficient and effective manner. In addition, modern business strategies, also referred to as international trends, need to be practiced by principal manufacturing organisations in their quest to be more efficient, effective, competitive and successful in an ever-changing business environment. In order to achieve supply chain success, principal organisations need to ensure that all supply chain partners, particularly 3PL service providers, are aligned with the goals of the principal organisation’s supply chain. The review highlighted that business organisations need to review their selection methods for 3PL service providers on a continuous basis and only select providers that can tailor their service offerings according to the principal organisation’s needs. Therefore, in order for automotive manufactures to realise more potential from their 3PL service providers in the future, issues such as early 3PL service provider involvement, cost saving initiatives from 3PL service providers and 3PL service provider development, will become more crucial. Lastly, the review showed that the automotive industry plays a key role in developing countries as it is a significant contributor to GDP and provides a source of employment, which is much needed in South Africa. However, automotive logistics is a highly complex field, demanding considerable capital resources. One of the most important roles of 3PL service providers in the automotive industry is the management of cargos of goods within the supply chain. As a result, the automotive industry is becoming more based on a system of modularity, through a system of modular production. Logistics outsourcing is receiving increased attention, since it is a sector in which productivity and efficiency improvements are possible in order to lower operating costs, while improving customer services. However, 3PL service providers face significant barriers in developing countries such as stringent legal regulations, poor infrastructure and equipment, as well as a lack of competent manpower for efficient operations. This research was performed mainly within the positivist research paradigm of causality, since it was held by the researcher that there should be a clear causal relationship between the variables that may be observed to answer the research questions of this study. A simple random probability sample of participants from the research population of automotive manufacturing firms in the Eastern Cape Province was gathered, and the questions posed in the questionnaire of this study were structured using both Likert-scale and open-ended questions. In order to analyse the data, two popular quantitative data analysis techniques of descriptive statistical analysis and inferential statistical analysis were employed, with particular techniques of Correlation Analysis, Cronbach’s alpha, and tests for normality being performed. The empirical study revealed that the largest group was employed in the assembly sector, and the vast majority of the respondents made use of 3PL service providers for both sending and receiving components and parts. Almost all of the respondents outsourced transportation services to 3PL service providers. Most respondents were satisfied or very satisfied with their transportation 3PL service providers; but fewer were satisfied, and some were dissatisfied or very dissatisfied, with warehousing and VAS 3PL service providers. The range of mean values across all of the ‘consequences’ that had been caused due to inferior 3PL performance was concisely grouped, indicating that no single issue stood out as far more or less of a problem than the others; though three common problems noted were that respondents had not received parts and components on time, experienced production stoppages; and higher costs had impacted their organisations negatively. The Cronbach alphas of each of the transportation, warehousing, VAS and consequences data sets, combined, indicated that the data was reliable, and had suitable internal consistencies. The main corrective actions to be taken by automotive manufactures against 3PL service providers who fail to perform as promised are to impose a penalty as per the terms and conditions of the contract signed between the automotive manufacturing firm and the 3PL service provider or to cancel the contract and look for an alternative 3PL service provider if they do not have a back-up service provider.
- Full Text:
- Date Issued: 2018
The effect of the exchange rate on economic growth in South Africa
- Authors: Maxwele, Chuma
- Date: 2019
- Subjects: Foreign exchange rates -- South Africa , Foreign exchange rates -- South Africa -- Econometric models Economic development -- South Africa South Africa -- Economic conditions -- Econometric models
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41548 , vital:36505
- Description: The study examines the effect of the exchange rate on South African economic growth rate, as this relationship is of paramount importance in South Africa, since the country has a highly volatile exchange rate in among emerging economies, and this has a significant impact on economic growth. The exchange rate can be explained or defined as the value of the home country or domestic currency in relation to foreign currencies, and economic growth, which is measured in terms of gross domestic product (GDP), which is the measure of currently produced final output in a country at a specific time period, usually a year or quarter. It has been long known that an inadequately or poorly managed exchange rate can be problematic in a country’s economic growth rate. Some economists point out that management of a country’s foreign exchange market is of utmost importance. Furthermore, bad exchange rate management can lead to unstable international relations that detrimentally affect the international trade of a country and cause large speculative financial flows, which could cause financial markets to be disrupted and also lead inefficient allocation of funds. At the same time, competitive exchange rate promotes a suitable economic environment that is a precondition when it comes to expanding of international trade and investment, and gaining of higher economic growth in a country. The purpose of this study is to investigate the effect of the exchange rate on economic growth in South Africa. This study employs a newly developed econometric technique known as non-linear autoregressive distributive lag (NARDL). This study employs annual data for the period of 1970 to 2017. The first variable is the real effective exchange rate of the rand, and the study compares the value of the rand against the currencies of the twenty trading partners. The second variable is economic growth, which is measured in terms of the gross domestic product (GDP). GDP is the value of output produced within the region or borders of a country during a period of time, usually a year or quarter. Investment is another variable used, and it is categorised into economic investment (capital formation) and financial investment but the study adopts economic investment. Economic investment is the quantity of capital stock in a society, simple put it is goods used in the making of other goods. Government expenditure is also used in the study, and government expenditure is about public goods and services provided to society, and is a major component of gross domestic product. The last variable employed in the study is broad money supply as a percentage of GDP, which can be explained as the sum of the currency outside financial institutions, such as demand deposits other than the ones for government, the time, savings, and foreign currency of residents other than the government. GDP data was obtained from the electronic data bases of South African Reserve Bank, and all the remaining variables were obtained from the electronic data bases of the World Bank. The results of the NARDL model indicate that a positive change of the real effective exchange rate has a positive and significant effect on the gross domestic product in the long-run, while a negative change of the real effective exchange rate has a negative and significant effect on the gross domestic product in the long-run. In the short-run, the results also behave in the same manner as in the long-run. The study recommends that the real effective exchange rate should not be the only area to look into when trying to improve economic growth in South Africa. Investments must be looked into as well, and South Africa needs more growth desperately.
- Full Text:
- Date Issued: 2019
- Authors: Maxwele, Chuma
- Date: 2019
- Subjects: Foreign exchange rates -- South Africa , Foreign exchange rates -- South Africa -- Econometric models Economic development -- South Africa South Africa -- Economic conditions -- Econometric models
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/41548 , vital:36505
- Description: The study examines the effect of the exchange rate on South African economic growth rate, as this relationship is of paramount importance in South Africa, since the country has a highly volatile exchange rate in among emerging economies, and this has a significant impact on economic growth. The exchange rate can be explained or defined as the value of the home country or domestic currency in relation to foreign currencies, and economic growth, which is measured in terms of gross domestic product (GDP), which is the measure of currently produced final output in a country at a specific time period, usually a year or quarter. It has been long known that an inadequately or poorly managed exchange rate can be problematic in a country’s economic growth rate. Some economists point out that management of a country’s foreign exchange market is of utmost importance. Furthermore, bad exchange rate management can lead to unstable international relations that detrimentally affect the international trade of a country and cause large speculative financial flows, which could cause financial markets to be disrupted and also lead inefficient allocation of funds. At the same time, competitive exchange rate promotes a suitable economic environment that is a precondition when it comes to expanding of international trade and investment, and gaining of higher economic growth in a country. The purpose of this study is to investigate the effect of the exchange rate on economic growth in South Africa. This study employs a newly developed econometric technique known as non-linear autoregressive distributive lag (NARDL). This study employs annual data for the period of 1970 to 2017. The first variable is the real effective exchange rate of the rand, and the study compares the value of the rand against the currencies of the twenty trading partners. The second variable is economic growth, which is measured in terms of the gross domestic product (GDP). GDP is the value of output produced within the region or borders of a country during a period of time, usually a year or quarter. Investment is another variable used, and it is categorised into economic investment (capital formation) and financial investment but the study adopts economic investment. Economic investment is the quantity of capital stock in a society, simple put it is goods used in the making of other goods. Government expenditure is also used in the study, and government expenditure is about public goods and services provided to society, and is a major component of gross domestic product. The last variable employed in the study is broad money supply as a percentage of GDP, which can be explained as the sum of the currency outside financial institutions, such as demand deposits other than the ones for government, the time, savings, and foreign currency of residents other than the government. GDP data was obtained from the electronic data bases of South African Reserve Bank, and all the remaining variables were obtained from the electronic data bases of the World Bank. The results of the NARDL model indicate that a positive change of the real effective exchange rate has a positive and significant effect on the gross domestic product in the long-run, while a negative change of the real effective exchange rate has a negative and significant effect on the gross domestic product in the long-run. In the short-run, the results also behave in the same manner as in the long-run. The study recommends that the real effective exchange rate should not be the only area to look into when trying to improve economic growth in South Africa. Investments must be looked into as well, and South Africa needs more growth desperately.
- Full Text:
- Date Issued: 2019
Revenue, trade and welfare effects of the COMESA FTA on the Democratic Republic of Congo
- Authors: Ndungo, Lusenge Patrick
- Date: 2017
- Subjects: Revenue -- Congo (Democratic Republic) -- Econometric models , Welfare economics Congo (Democratic Republic) -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/14256 , vital:27493
- Description: The present research attempts to assess the likely revenue, trade and welfare implications of the Common Market for Eastern and Southern Africa (COMESA) Free Trade Agreement (FTA) on the Democratic Republic of Congo (DRC). The study adopts a partial equilibrium model based on the World Integrated Trade Solution 2010 database and the Software for Market Analysis and Restrictions on Trade (WITS-SMART) as the methodological approach. The findings of the research reveal that the COMESA FTA will be beneficial to the DRC in terms of an increase in exports of US$371.57 million and consumer welfare gain amounting to US$28.49 million. Moreover, The WITS-SMART simulation results indicate that around US$322.10 million of trade will be created in the DRC as a result of the COMESA FTA. Notwithstanding the fact that trade creation will have a positive effect on welfare, as the Congolese consumers would benefit from lower prices, some local industries in the DRC may be threaten of closure due to the lack of competitiveness. In addition, the simultation results show that the country will experience a huge fiscal revenue loss amounting to US$107.01 million due to the implementation of zero per cent tarrif rate on imports duty from the COMESA trading partners. Finally, the simultation results indicate that an equivalent value of US$49.47 million of trade will be diverted from more efficient and low cost non-member states to high cost suppliers from the COMESA region. In light of these results, the research recommends that the DRC’s government needs to come up with a strategic plan in order to protect the national industry that would be negatively affected by the trade-creation effect. In order to mitigate the expected revenue loss, the implementation of the COMESA FTA in the DRC should be accompanied by fiscal reforms to improve the tax-collection system from sales or value-added taxes (VAT) and domestic excise. Regarding the trade-diversion effect, the inefficient producers from the COMESA region could be displaced through building new capacities in short, medium and long term based on comparative advantage in order to address supply constraints in these sectors affected by trade diversion.
- Full Text:
- Date Issued: 2017
- Authors: Ndungo, Lusenge Patrick
- Date: 2017
- Subjects: Revenue -- Congo (Democratic Republic) -- Econometric models , Welfare economics Congo (Democratic Republic) -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/14256 , vital:27493
- Description: The present research attempts to assess the likely revenue, trade and welfare implications of the Common Market for Eastern and Southern Africa (COMESA) Free Trade Agreement (FTA) on the Democratic Republic of Congo (DRC). The study adopts a partial equilibrium model based on the World Integrated Trade Solution 2010 database and the Software for Market Analysis and Restrictions on Trade (WITS-SMART) as the methodological approach. The findings of the research reveal that the COMESA FTA will be beneficial to the DRC in terms of an increase in exports of US$371.57 million and consumer welfare gain amounting to US$28.49 million. Moreover, The WITS-SMART simulation results indicate that around US$322.10 million of trade will be created in the DRC as a result of the COMESA FTA. Notwithstanding the fact that trade creation will have a positive effect on welfare, as the Congolese consumers would benefit from lower prices, some local industries in the DRC may be threaten of closure due to the lack of competitiveness. In addition, the simultation results show that the country will experience a huge fiscal revenue loss amounting to US$107.01 million due to the implementation of zero per cent tarrif rate on imports duty from the COMESA trading partners. Finally, the simultation results indicate that an equivalent value of US$49.47 million of trade will be diverted from more efficient and low cost non-member states to high cost suppliers from the COMESA region. In light of these results, the research recommends that the DRC’s government needs to come up with a strategic plan in order to protect the national industry that would be negatively affected by the trade-creation effect. In order to mitigate the expected revenue loss, the implementation of the COMESA FTA in the DRC should be accompanied by fiscal reforms to improve the tax-collection system from sales or value-added taxes (VAT) and domestic excise. Regarding the trade-diversion effect, the inefficient producers from the COMESA region could be displaced through building new capacities in short, medium and long term based on comparative advantage in order to address supply constraints in these sectors affected by trade diversion.
- Full Text:
- Date Issued: 2017
Values and workplace expectations of young graduates in the private sector
- Authors: Kriel, Caylin Jade
- Date: 2019
- Subjects: Generation Y -- Employment , Generation X -- Employment Intergenerational relations Group relations training Teams in the workplace Personnel management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40500 , vital:36177
- Description: Understanding the values and workplace expectations of young South African graduates, referred to in this study as Millennials, is vital for the future success of organisations. Organisations gain a competitive advantage by attracting, engaging and retaining top talent. Millennials are not always positively received in the workplace, due to the prevailing stereotypes held about this group. However, the Millennial generation has an important role to play in the workplace, both in contributing towards organisational success, and as future leaders. A greater understanding of this generation, more particularly in terms of their values and workplace expectations, is thus necessary for ensuring effective talent acquisition and management strategies. The aim of the study was to identify the values of Millennials, both within their personal and working lives. This is important; as individuals take their values into the workplace. Secondly, the expectations that Millennials have of their employers and workplaces in general was explored. With this understanding in mind, the purpose of the study was to advise organisations on how to better prepare for and accommodate Millennials’ values and workplace expectations, in order to enhance their role in contributing towards organisational success, as well as contributing towards their levels of engagement and job satisfaction. The study adopted a qualitative and phenomenological research design. The sample comprised eight young South African graduates working within the private sector, and residing in Port Elizabeth, within the Eastern Cape province of South Africa, who possessed an undergraduate tertiary qualification, and held at least one year’s work experience. It was further required that the participants fall within the Millennial generational cohort, aged between 22 and 30 years. The sampling technique used was non-probability purposive convenience sampling. One-on-one semi-structured interviews formed the data-collection instrument; and thematic analysis was used for the data processing and analysis. Congruence was identified between the values and the workplace expectations of young South African graduates in the private sector through the semi-structured interviews and the literature review; and between the identified values and the workplace expectations of the eight participants. This study contributes towards the field of knowledge used in describing the nature of the values and the workplace expectations of Millennials; and provides recommendations in terms of workplace implications.
- Full Text:
- Date Issued: 2019
- Authors: Kriel, Caylin Jade
- Date: 2019
- Subjects: Generation Y -- Employment , Generation X -- Employment Intergenerational relations Group relations training Teams in the workplace Personnel management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40500 , vital:36177
- Description: Understanding the values and workplace expectations of young South African graduates, referred to in this study as Millennials, is vital for the future success of organisations. Organisations gain a competitive advantage by attracting, engaging and retaining top talent. Millennials are not always positively received in the workplace, due to the prevailing stereotypes held about this group. However, the Millennial generation has an important role to play in the workplace, both in contributing towards organisational success, and as future leaders. A greater understanding of this generation, more particularly in terms of their values and workplace expectations, is thus necessary for ensuring effective talent acquisition and management strategies. The aim of the study was to identify the values of Millennials, both within their personal and working lives. This is important; as individuals take their values into the workplace. Secondly, the expectations that Millennials have of their employers and workplaces in general was explored. With this understanding in mind, the purpose of the study was to advise organisations on how to better prepare for and accommodate Millennials’ values and workplace expectations, in order to enhance their role in contributing towards organisational success, as well as contributing towards their levels of engagement and job satisfaction. The study adopted a qualitative and phenomenological research design. The sample comprised eight young South African graduates working within the private sector, and residing in Port Elizabeth, within the Eastern Cape province of South Africa, who possessed an undergraduate tertiary qualification, and held at least one year’s work experience. It was further required that the participants fall within the Millennial generational cohort, aged between 22 and 30 years. The sampling technique used was non-probability purposive convenience sampling. One-on-one semi-structured interviews formed the data-collection instrument; and thematic analysis was used for the data processing and analysis. Congruence was identified between the values and the workplace expectations of young South African graduates in the private sector through the semi-structured interviews and the literature review; and between the identified values and the workplace expectations of the eight participants. This study contributes towards the field of knowledge used in describing the nature of the values and the workplace expectations of Millennials; and provides recommendations in terms of workplace implications.
- Full Text:
- Date Issued: 2019
Factors influencing middle income black professionals’ intention to seek financial planning assistance
- Authors: Mtimba, Sinaye Akhumzi
- Date: 2018
- Subjects: Finance, Personal , Financial literacy Financial planners Middle class -- South Africa -- Finance
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/22813 , vital:30099
- Description: With the rising day to day expenses especially post retirement when income streams are running low, financial planning helps to better manage such events more effectively. Through a proper financial plan individuals do not just deal with wealth creation and wealth protection but are able to start from the basics of budgeting, were individuals are taught how to live within their means. In South Africa, financial planning has been seen to be focusing on the more affluent clients. This has resulted in a distinct lack of academic literature done on middle income black professionals in relation to financial planning. This is despite the increase of the black middle class population which has been accompanied with an increased purchasing power exceeding that of the previously wealthier white middle class. The growth of the black middle class in South Africa has been accompanied with stumbling blocks, ranging from the lack of financial literacy of the black middle class, negative attitude towards the financial services industry that influence financial decision making, and the pre-existing perception that are built on the lack of financial awareness, a legacy left by the history of division that South Africa had. Therefore the main aim of this study was to investigate the factors that influence middle income black professionals’ intention to seek financial planning assistance. Both secondary and primary data were used to help achieve the primary research objective of the study. An in-depth literature review on the financial planning industry in South Africa that included the nature of financial planning, the role of the financial planner, the six step financial planning process, the importance and benefits of financial planning, current trends in the financial planning industry, financial planning and the middle income black professionals and the factors that influence the middle income black professionals’ intention to seek financial planning assistance was conducted. Selected study of the literature revealed six factors that might influence an individual’s intention to seek financial planning assistance, namely Attitude, Awareness, Family financial norms, Financial self-efficacy, Trust and Perceived rewards. A theoretical framework was proposed illustrating the relationships between the factors influencing middle income black professionals’ intention to seek financial planning assistance that were to be empirically tested. A positivistic research paradigm was followed and a quantitative approach was implemented. Snowball and convenience sampling was used and a total of 300 questionnaires were distributed to middle income black professionals in the Eastern Cape. For the purpose of this study, middle income black professionals refer to qualified working individuals in the middle income bracket, including teachers, nurses, administrative workers, office-based municipal workers and employees in the private sector, such as those working in the banks and retail supervisors. These were distributed to verify their intentional behaviour with regards to seeking financial planning assistance. From the 300 questionnaires distributed, 271 usable questionnaires were yielded. Statistical techniques including descriptive statistics, Pearson’s product moment correlations and multiple regression analysis were performed on the gathered data. Demographic data relating to the gender, age and first language of the respondents was collected. An exploratory factor analysis was undertaken, and Cronbach’s alpha coefficients were calculated to assess the validity and reliability of the measuring instrument. As a result of the factor analysis the operational definitions were rephrased. The Cronbach’s alpha coefficients reported were all greater than 0.7, deeming the scales measuring the various dimensions reliable. Descriptive statistics were calculated to summarise the sample data, and Pearson’s product-moment correlation coefficients were established to investigate the associations between the variables. Significant positive correlations were reported between all of the variables. The results of the descriptive statistics showed that the majority of respondents agreed that Attitude (77.73%), Financial self-efficacy (61.13%) and Perceived rewards (76.98%) were the most influencing factors. The results of the multiple regression analysis revealed that three factors had a significant positive influence on the dependent variable Intention to seek financial planning assistance, namely Attitude, Awareness and Perceived rewards. The factors Family financial norms, Financial self-efficacy and Trust were rejected as there was no significant relationship found between them and the Intention to seek financial planning assistance. Based on the results, it is recommended that financial service providers focus on financial education by engaging with the middle income black professionals through accessible media such as radio and television. Furthermore, financial service providers should shift from a sales orientated philosophy to a lifestyle financial planning advice philosophy that encourage value for the service rendered to the client and sells benefit than product. The Department of Education should put in place basic financial planning curriculum that can be deliverable at schooling level and is examinable in order to improve the basic financial knowledge and awareness amongst the next generation. Lastly the middle income black professionals are encouraged to read their documents when taking out financial products as well as financial related articles to develop their financial knowledge.
- Full Text:
- Date Issued: 2018
- Authors: Mtimba, Sinaye Akhumzi
- Date: 2018
- Subjects: Finance, Personal , Financial literacy Financial planners Middle class -- South Africa -- Finance
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/22813 , vital:30099
- Description: With the rising day to day expenses especially post retirement when income streams are running low, financial planning helps to better manage such events more effectively. Through a proper financial plan individuals do not just deal with wealth creation and wealth protection but are able to start from the basics of budgeting, were individuals are taught how to live within their means. In South Africa, financial planning has been seen to be focusing on the more affluent clients. This has resulted in a distinct lack of academic literature done on middle income black professionals in relation to financial planning. This is despite the increase of the black middle class population which has been accompanied with an increased purchasing power exceeding that of the previously wealthier white middle class. The growth of the black middle class in South Africa has been accompanied with stumbling blocks, ranging from the lack of financial literacy of the black middle class, negative attitude towards the financial services industry that influence financial decision making, and the pre-existing perception that are built on the lack of financial awareness, a legacy left by the history of division that South Africa had. Therefore the main aim of this study was to investigate the factors that influence middle income black professionals’ intention to seek financial planning assistance. Both secondary and primary data were used to help achieve the primary research objective of the study. An in-depth literature review on the financial planning industry in South Africa that included the nature of financial planning, the role of the financial planner, the six step financial planning process, the importance and benefits of financial planning, current trends in the financial planning industry, financial planning and the middle income black professionals and the factors that influence the middle income black professionals’ intention to seek financial planning assistance was conducted. Selected study of the literature revealed six factors that might influence an individual’s intention to seek financial planning assistance, namely Attitude, Awareness, Family financial norms, Financial self-efficacy, Trust and Perceived rewards. A theoretical framework was proposed illustrating the relationships between the factors influencing middle income black professionals’ intention to seek financial planning assistance that were to be empirically tested. A positivistic research paradigm was followed and a quantitative approach was implemented. Snowball and convenience sampling was used and a total of 300 questionnaires were distributed to middle income black professionals in the Eastern Cape. For the purpose of this study, middle income black professionals refer to qualified working individuals in the middle income bracket, including teachers, nurses, administrative workers, office-based municipal workers and employees in the private sector, such as those working in the banks and retail supervisors. These were distributed to verify their intentional behaviour with regards to seeking financial planning assistance. From the 300 questionnaires distributed, 271 usable questionnaires were yielded. Statistical techniques including descriptive statistics, Pearson’s product moment correlations and multiple regression analysis were performed on the gathered data. Demographic data relating to the gender, age and first language of the respondents was collected. An exploratory factor analysis was undertaken, and Cronbach’s alpha coefficients were calculated to assess the validity and reliability of the measuring instrument. As a result of the factor analysis the operational definitions were rephrased. The Cronbach’s alpha coefficients reported were all greater than 0.7, deeming the scales measuring the various dimensions reliable. Descriptive statistics were calculated to summarise the sample data, and Pearson’s product-moment correlation coefficients were established to investigate the associations between the variables. Significant positive correlations were reported between all of the variables. The results of the descriptive statistics showed that the majority of respondents agreed that Attitude (77.73%), Financial self-efficacy (61.13%) and Perceived rewards (76.98%) were the most influencing factors. The results of the multiple regression analysis revealed that three factors had a significant positive influence on the dependent variable Intention to seek financial planning assistance, namely Attitude, Awareness and Perceived rewards. The factors Family financial norms, Financial self-efficacy and Trust were rejected as there was no significant relationship found between them and the Intention to seek financial planning assistance. Based on the results, it is recommended that financial service providers focus on financial education by engaging with the middle income black professionals through accessible media such as radio and television. Furthermore, financial service providers should shift from a sales orientated philosophy to a lifestyle financial planning advice philosophy that encourage value for the service rendered to the client and sells benefit than product. The Department of Education should put in place basic financial planning curriculum that can be deliverable at schooling level and is examinable in order to improve the basic financial knowledge and awareness amongst the next generation. Lastly the middle income black professionals are encouraged to read their documents when taking out financial products as well as financial related articles to develop their financial knowledge.
- Full Text:
- Date Issued: 2018
Influence of product variables on consumers’ buying behaviour in the South African skin care industry
- Authors: Mabuyana, Brian
- Date: 2019
- Subjects: Consumer behavior -- South Africa , Product management Packaging Branding (Marketing)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40713 , vital:36229
- Description: The aim of this study was to develop, validate and test a hypothesised model on the product variables that can possibly influence consumers’ buying behaviour in the skin care industry in South Africa. The product variables that can possibly influence consumers’ buying behaviour are product attributes, product packaging, product labelling, product pricing and product branding. A positivistic quantitative research methodology was followed by collecting data with a structured, self-administered questionnaire using convenience and snowball sampling. The validity and reliability of the measuring instrument were confirmed by means of an Exploratory Factor Analysis (EFA) and the calculation of Cronbach’s alpha coefficients. A sample of 220 respondents was obtained. Descriptive statistics were provided to summarise the sample data. Pearson’s product moment correlations were calculated to establish the correlations between the variables used in this study. Multiple regression was performed to test the significance of the relationships hypothesised between the independent and dependent variables. A T-test and Analysis of Variance (ANOVA) tests were performed to assess the influence of demographic variables on respondents’ perceptions regarding the independent and dependent variables used. To establish significant differences between individual mean scores, post-hoc Sheffé tests were calculated, and practical significance was assessed by calculating Cohen’s d values. The multiple regression analysis indicated a positive significant relationship among the independent variables (Product attributes, Product packaging and Product branding) and the dependent variable (Consumer buying behaviour). The ANOVA tests indicated significant relationships between three demographic variables namely ethnicity, occupation and average spending and the dependent variable (Consumer buying behaviour). Black and White respondents and Asian and Coloured respondents had different perspectives regarding Product labelling and Product branding respectively when purchasing skin care products. Respondents with different occupations had different perspectives on Product packaging, Product branding and Consumer buying behaviour respectively. Consumers in two different spending groups had different perspectives on Consumer buying behaviour. This study has made a contribution to the shortage of literature on the impact of product variables on consumers’ buying behaviour in the skin care industry. The hypothesised model for this study assisted in understanding the influence of product variables (tangible and intangible) on consumers’ buying behaviour. As a result, this study provides recommendations and suggestions for role players in the skin care industry to ensure a positive image in the minds of consumers and to ultimately use product variables to positively influence the buying behaviour of consumers in the skin care industry.
- Full Text:
- Date Issued: 2019
- Authors: Mabuyana, Brian
- Date: 2019
- Subjects: Consumer behavior -- South Africa , Product management Packaging Branding (Marketing)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40713 , vital:36229
- Description: The aim of this study was to develop, validate and test a hypothesised model on the product variables that can possibly influence consumers’ buying behaviour in the skin care industry in South Africa. The product variables that can possibly influence consumers’ buying behaviour are product attributes, product packaging, product labelling, product pricing and product branding. A positivistic quantitative research methodology was followed by collecting data with a structured, self-administered questionnaire using convenience and snowball sampling. The validity and reliability of the measuring instrument were confirmed by means of an Exploratory Factor Analysis (EFA) and the calculation of Cronbach’s alpha coefficients. A sample of 220 respondents was obtained. Descriptive statistics were provided to summarise the sample data. Pearson’s product moment correlations were calculated to establish the correlations between the variables used in this study. Multiple regression was performed to test the significance of the relationships hypothesised between the independent and dependent variables. A T-test and Analysis of Variance (ANOVA) tests were performed to assess the influence of demographic variables on respondents’ perceptions regarding the independent and dependent variables used. To establish significant differences between individual mean scores, post-hoc Sheffé tests were calculated, and practical significance was assessed by calculating Cohen’s d values. The multiple regression analysis indicated a positive significant relationship among the independent variables (Product attributes, Product packaging and Product branding) and the dependent variable (Consumer buying behaviour). The ANOVA tests indicated significant relationships between three demographic variables namely ethnicity, occupation and average spending and the dependent variable (Consumer buying behaviour). Black and White respondents and Asian and Coloured respondents had different perspectives regarding Product labelling and Product branding respectively when purchasing skin care products. Respondents with different occupations had different perspectives on Product packaging, Product branding and Consumer buying behaviour respectively. Consumers in two different spending groups had different perspectives on Consumer buying behaviour. This study has made a contribution to the shortage of literature on the impact of product variables on consumers’ buying behaviour in the skin care industry. The hypothesised model for this study assisted in understanding the influence of product variables (tangible and intangible) on consumers’ buying behaviour. As a result, this study provides recommendations and suggestions for role players in the skin care industry to ensure a positive image in the minds of consumers and to ultimately use product variables to positively influence the buying behaviour of consumers in the skin care industry.
- Full Text:
- Date Issued: 2019
Revenue, Trade and Welfare Implications of the BRICS Free Trade Agreement on South Africa
- Authors: Mayende, Nosiphiwo Andisa
- Date: 2020
- Subjects: Gross domestic product -- Statistics -- South Africa , International business enterprises -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50316 , vital:42105
- Description: The analysis presented in the study is based on the World Integrated Trade Solution (WITS)/Software Market analysis and Restrictions on Trade (SMART) was used to assess the impacts of the BRICS free trade area (FTA) on South Africa’s revenue, trade and welfare. The findings of the study show that the BRICS FTA is expected to increase imports into South Africa from China, India, Brazil and Russia by $188 million, $469.6 million, $145 million and $19.7 million, respectively. In the same vein, the country is expected to have trade diversion totalling $886.86 million which are largely caused by China with $564.7 million dollars. The combined effects of trade creation and trade diversion, that is, total imports, is expected to lead $1.7 billion in imports surge as a result of BRICS FTA. With regard to the revenue effect, the WITS/SMART simulations indicate that South Africa will have a total fiscal revenue loss of US$1.926 billion if the BRICS FTA is implemented. Major losers include motor vehicles with a loss of US$235.6 million, footwear with US$168.6 million, garments with a loss of US$97 million and textile materials with a loss of $96 million. Overall, South Africa’s exports are expected to increase by $354 million thanks to the BRICS FTA. From the above analysis it is apparent that South Africa will both lose and benefit by joining the BRICS.
- Full Text:
- Date Issued: 2020
- Authors: Mayende, Nosiphiwo Andisa
- Date: 2020
- Subjects: Gross domestic product -- Statistics -- South Africa , International business enterprises -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50316 , vital:42105
- Description: The analysis presented in the study is based on the World Integrated Trade Solution (WITS)/Software Market analysis and Restrictions on Trade (SMART) was used to assess the impacts of the BRICS free trade area (FTA) on South Africa’s revenue, trade and welfare. The findings of the study show that the BRICS FTA is expected to increase imports into South Africa from China, India, Brazil and Russia by $188 million, $469.6 million, $145 million and $19.7 million, respectively. In the same vein, the country is expected to have trade diversion totalling $886.86 million which are largely caused by China with $564.7 million dollars. The combined effects of trade creation and trade diversion, that is, total imports, is expected to lead $1.7 billion in imports surge as a result of BRICS FTA. With regard to the revenue effect, the WITS/SMART simulations indicate that South Africa will have a total fiscal revenue loss of US$1.926 billion if the BRICS FTA is implemented. Major losers include motor vehicles with a loss of US$235.6 million, footwear with US$168.6 million, garments with a loss of US$97 million and textile materials with a loss of $96 million. Overall, South Africa’s exports are expected to increase by $354 million thanks to the BRICS FTA. From the above analysis it is apparent that South Africa will both lose and benefit by joining the BRICS.
- Full Text:
- Date Issued: 2020
Labour immigration, per capita income growth and unemployment in post-apartheid South Africa
- Authors: Nyagweta, David Tinashe
- Date: 2019
- Subjects: Unemployment rate
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/44531 , vital:38136
- Description: Since the end of apartheid in 1994, South Africa has experienced considerable increase in immigration. The country’s immigrant population share relative to the total population stood at 2.4% in 1995 which soared to 7.6% in 2017. This increase has mostly been enticed by the highly competitive economic and political outlook of the rainbow nation in relation to other global developing nations. Unfortunately, reality of increased immigration particularly, labour-based immigration has spurred fierce debates which in many instances manifested into xenophobic violence. Pessimism amongst public, academic and political spheres continues to grow with detrimental economic strains of slow per capita income growth and high unemployment cited as immigration outcomes. The purpose of this study was to evaluate whether labour-based immigration contributed to changes in per capita income growth and unemployment levels in South Africa. Using unemployment rate, labour immigration entrances and per capita income growth rate data from 1994-2017, the autoregressive distributed lag (ARDL) bounds test was used to test for long run relationship together with the short run dynamic model. Evidence from the underlying results show that labour immigration has an insignificant causal effect on both per capita income growth and unemployment. Thus, contrary to pessimistic public and political sentiment, constrained income growth and increased unemployment are not attributed to high rates of labour immigration. Based on these findings policy makers should improve alignment of policies with regional and multinational blocs, constitutional obligations and economic goals to ensure sound immigration policies. Furthermore, communities should enable programs which aim to reduce tensions between immigrants and citizens whilst building towards inclusive development.
- Full Text:
- Date Issued: 2019
- Authors: Nyagweta, David Tinashe
- Date: 2019
- Subjects: Unemployment rate
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/44531 , vital:38136
- Description: Since the end of apartheid in 1994, South Africa has experienced considerable increase in immigration. The country’s immigrant population share relative to the total population stood at 2.4% in 1995 which soared to 7.6% in 2017. This increase has mostly been enticed by the highly competitive economic and political outlook of the rainbow nation in relation to other global developing nations. Unfortunately, reality of increased immigration particularly, labour-based immigration has spurred fierce debates which in many instances manifested into xenophobic violence. Pessimism amongst public, academic and political spheres continues to grow with detrimental economic strains of slow per capita income growth and high unemployment cited as immigration outcomes. The purpose of this study was to evaluate whether labour-based immigration contributed to changes in per capita income growth and unemployment levels in South Africa. Using unemployment rate, labour immigration entrances and per capita income growth rate data from 1994-2017, the autoregressive distributed lag (ARDL) bounds test was used to test for long run relationship together with the short run dynamic model. Evidence from the underlying results show that labour immigration has an insignificant causal effect on both per capita income growth and unemployment. Thus, contrary to pessimistic public and political sentiment, constrained income growth and increased unemployment are not attributed to high rates of labour immigration. Based on these findings policy makers should improve alignment of policies with regional and multinational blocs, constitutional obligations and economic goals to ensure sound immigration policies. Furthermore, communities should enable programs which aim to reduce tensions between immigrants and citizens whilst building towards inclusive development.
- Full Text:
- Date Issued: 2019
The relationship between cultural intelligence and cross-cultural psychological capital amongst expatriates
- Authors: Lamont, Mia Adri
- Date: 2019
- Subjects: Cultural intelligence , Business anthropology Management -- Cross-cultural studies Corporate culture Work environment
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40467 , vital:36168
- Description: This study explored the relationship between Cross-cultural (CC) PsyCap and Cultural Intelligence (CQ) amongst expatriates. The literature review revealed preliminary relationships between the two constructs and illuminated the need to broaden and extend current research to expatriates specifically. The study followed a quantitative research design in the form of non-experimental, cross-sectional research using convenience and snowball sampling. A composite questionnaire comprising the CC PsyCap scale and Cultural Intelligence Scale (CQS) was used to measure CC PsyCap and CQ levels. This self-report measure was distributed via various social media platforms (N=102). Overall, the measurement models revealed high reliability in the present study. Although the modified hope subscale did not appear to be suited to the expatriate sample in the present study, confirmatory factor analysis revealed acceptable validity for both instruments overall. Significant differences were found in the means of CC PsyCap and CQ between demographic groups. Relationships between the constructs were tested through correlation-and regression analyses and several significant positive relationships were found between the constructs and their dimensions. Two of the strongest relationships found were between CC self-efficacy and CQ and between motivational CQ and CC PsyCap. Further, CC PsyCap was shown to account for a part of the variance in CQ and vice versa. This research adds to insights gained from the previously validated cross-cultural PsyCap measure and studies on the relationships between the two constructs.
- Full Text:
- Date Issued: 2019
- Authors: Lamont, Mia Adri
- Date: 2019
- Subjects: Cultural intelligence , Business anthropology Management -- Cross-cultural studies Corporate culture Work environment
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/40467 , vital:36168
- Description: This study explored the relationship between Cross-cultural (CC) PsyCap and Cultural Intelligence (CQ) amongst expatriates. The literature review revealed preliminary relationships between the two constructs and illuminated the need to broaden and extend current research to expatriates specifically. The study followed a quantitative research design in the form of non-experimental, cross-sectional research using convenience and snowball sampling. A composite questionnaire comprising the CC PsyCap scale and Cultural Intelligence Scale (CQS) was used to measure CC PsyCap and CQ levels. This self-report measure was distributed via various social media platforms (N=102). Overall, the measurement models revealed high reliability in the present study. Although the modified hope subscale did not appear to be suited to the expatriate sample in the present study, confirmatory factor analysis revealed acceptable validity for both instruments overall. Significant differences were found in the means of CC PsyCap and CQ between demographic groups. Relationships between the constructs were tested through correlation-and regression analyses and several significant positive relationships were found between the constructs and their dimensions. Two of the strongest relationships found were between CC self-efficacy and CQ and between motivational CQ and CC PsyCap. Further, CC PsyCap was shown to account for a part of the variance in CQ and vice versa. This research adds to insights gained from the previously validated cross-cultural PsyCap measure and studies on the relationships between the two constructs.
- Full Text:
- Date Issued: 2019
Trading with selected SADC countries and economic growth in South Africa
- Authors: Malimba, Nwabisa
- Date: 2018
- Subjects: Southern African Development Community , Economic development -- South Africa South Africa -- Economic conditions -- 1991 Economic development -- Africa, Southern
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/31962 , vital:31867
- Description: This study empirically evaluates the impact of trading with SADC countries on the economic growth of South Africa (2010 -2016). The study used Fixed Effects Model to determine the relationship between economic growth of South Africa and the selected explanatory variables. The study made use of annual panel data from World Bank, Focus Economics and Trading economics. The relationship between South Africa’s economic growth and its determinants was examined using the procedure suggested in the literature by William (2017). Various tests were conducted to ensure that the relevant model is used and to produce reliable results. The results of a fixed effects model revealed that exports, imports and trade openness are statistically significant for South African economic growth. However, the p-values indicated that trade openness is the most statistically significant variable in explaining the variation in South African economic growth better than other explanatory variables confirm. Other variables that explained the fitness of the model for the data indicated that the model was a good fit. The implication of the results obtained from Fixed Effects model is that there was little trade between South Africa and selected SADC countries during the period under review. Trading with SADC countries has a negative effect on South African economy mainly because there was a decrease in exports to SADC over the past six years and that SADC countries still need to be more open to trade. Less intensive trading between SADC countries could be attributed to shortage of capital, infrastructure and skilled labour among SADC countries. The main trading partners of South Africa are countries that are characterised by being capital intensive and have highly skilled labour. In the light of the challenges that negatively affects trade in the SADC region, the study suggests that SADC should spell out the criteria that countries need to meet before they can become members of the union. These should be non-negotiable and ensure that member states harmonise their policies with those of SADC. The study also suggests that SADC countries should be more open to trade as it has been empirically proven that trade openness has a positive relationship with economic growth. Empirical evidence presents that countries with open, large and more developed neighbouring economies grow faster than those with closed, smaller, and less developed neighbouring economies. Trade should be intensified because there are potential gains to trading with SADC. It is further suggested that more focus should be given on work related training to improve the skills of our labour force. These suggestions are based on the belief that African countries have the ability to rescue themselves out of the vicious cycle of poverty.
- Full Text:
- Date Issued: 2018
- Authors: Malimba, Nwabisa
- Date: 2018
- Subjects: Southern African Development Community , Economic development -- South Africa South Africa -- Economic conditions -- 1991 Economic development -- Africa, Southern
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/31962 , vital:31867
- Description: This study empirically evaluates the impact of trading with SADC countries on the economic growth of South Africa (2010 -2016). The study used Fixed Effects Model to determine the relationship between economic growth of South Africa and the selected explanatory variables. The study made use of annual panel data from World Bank, Focus Economics and Trading economics. The relationship between South Africa’s economic growth and its determinants was examined using the procedure suggested in the literature by William (2017). Various tests were conducted to ensure that the relevant model is used and to produce reliable results. The results of a fixed effects model revealed that exports, imports and trade openness are statistically significant for South African economic growth. However, the p-values indicated that trade openness is the most statistically significant variable in explaining the variation in South African economic growth better than other explanatory variables confirm. Other variables that explained the fitness of the model for the data indicated that the model was a good fit. The implication of the results obtained from Fixed Effects model is that there was little trade between South Africa and selected SADC countries during the period under review. Trading with SADC countries has a negative effect on South African economy mainly because there was a decrease in exports to SADC over the past six years and that SADC countries still need to be more open to trade. Less intensive trading between SADC countries could be attributed to shortage of capital, infrastructure and skilled labour among SADC countries. The main trading partners of South Africa are countries that are characterised by being capital intensive and have highly skilled labour. In the light of the challenges that negatively affects trade in the SADC region, the study suggests that SADC should spell out the criteria that countries need to meet before they can become members of the union. These should be non-negotiable and ensure that member states harmonise their policies with those of SADC. The study also suggests that SADC countries should be more open to trade as it has been empirically proven that trade openness has a positive relationship with economic growth. Empirical evidence presents that countries with open, large and more developed neighbouring economies grow faster than those with closed, smaller, and less developed neighbouring economies. Trade should be intensified because there are potential gains to trading with SADC. It is further suggested that more focus should be given on work related training to improve the skills of our labour force. These suggestions are based on the belief that African countries have the ability to rescue themselves out of the vicious cycle of poverty.
- Full Text:
- Date Issued: 2018
An assessment of marine food security in the Western Indian Ocean and the likely impacts of climate change
- Taylor, Sarah Frances Wedgwood
- Authors: Taylor, Sarah Frances Wedgwood
- Date: 2019
- Subjects: Food security
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/44528 , vital:38140
- Description: The Western Indian Ocean hosts the second largest coastal population on the planet and supports 4 million tons of fish catches annually yielding $943 million in revenues and employment. However, it has been warming at a rate faster than any other region of the tropical oceans over the last century thereby placing the challenges of fluctuating fish supply and changes in ocean productivity on coastal communities. With the global food system under mounting pressure, governments need to understand the relationship between fish supply and food security to avoid overseeing the important role fish and fisheries play in ensuring food security. This study provides an alternative view and measurement of food security at a national level by assessing the impact that macroeconomic variables and climate change have on fish supply in Kenya, South Africa, and Tanzania as case study countries of the Western Indian Ocean. Vector Error Correction Models were run to analyse the impact of economic growth, fishing effort, lending interest rates, and climate change on marine food security for the period of 1980-2016. Agricultural employment was used as a proxy for fishing effort. In general, the relationship between fish supply and fishing effort is negative in the short run and positive in the long run for Kenyan marine fisheries, South African total capture and marine fisheries, and Tanzanian capture fisheries. These results therefore oppose the theoretical expectations. Sea surface temperature, as a proxy of climate change, was found to have a negative impact overall on fish supply and therefore exerts a negative impact on marine food security in all three countries. The results emphasise the need to use disaggregated fisheries statistics to better understand the complex relationship between macroeconomic variables and fish supply. By doing so, more effective food security policies can be created in attempt to mitigate the potential negative impacts of climate change on marine food security in the Western Indian Ocean.
- Full Text:
- Date Issued: 2019
- Authors: Taylor, Sarah Frances Wedgwood
- Date: 2019
- Subjects: Food security
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/44528 , vital:38140
- Description: The Western Indian Ocean hosts the second largest coastal population on the planet and supports 4 million tons of fish catches annually yielding $943 million in revenues and employment. However, it has been warming at a rate faster than any other region of the tropical oceans over the last century thereby placing the challenges of fluctuating fish supply and changes in ocean productivity on coastal communities. With the global food system under mounting pressure, governments need to understand the relationship between fish supply and food security to avoid overseeing the important role fish and fisheries play in ensuring food security. This study provides an alternative view and measurement of food security at a national level by assessing the impact that macroeconomic variables and climate change have on fish supply in Kenya, South Africa, and Tanzania as case study countries of the Western Indian Ocean. Vector Error Correction Models were run to analyse the impact of economic growth, fishing effort, lending interest rates, and climate change on marine food security for the period of 1980-2016. Agricultural employment was used as a proxy for fishing effort. In general, the relationship between fish supply and fishing effort is negative in the short run and positive in the long run for Kenyan marine fisheries, South African total capture and marine fisheries, and Tanzanian capture fisheries. These results therefore oppose the theoretical expectations. Sea surface temperature, as a proxy of climate change, was found to have a negative impact overall on fish supply and therefore exerts a negative impact on marine food security in all three countries. The results emphasise the need to use disaggregated fisheries statistics to better understand the complex relationship between macroeconomic variables and fish supply. By doing so, more effective food security policies can be created in attempt to mitigate the potential negative impacts of climate change on marine food security in the Western Indian Ocean.
- Full Text:
- Date Issued: 2019