Financial technology and bank risk-taking behavior: a case of selected South African banks
- Authors: Magula, Zizipho
- Date: 2022-04-06
- Subjects: Uncatalogued
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/234206 , vital:50172
- Description: Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2022
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- Date Issued: 2022-04-06
Trade openness, economic growth, income inequality and poverty nexus in SADC countries: 1980-2019
- Authors: Gonese, Dorcas https://orcid.org/0000-0003-0774-024X
- Date: 2022-01
- Subjects: Economic development , Income distribution
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/23370 , vital:57618
- Description: Trade openness (TO) has been identified as a critical component for sustainable economic growth, income inequality reduction, and poverty reduction in the 2030 Agenda as per the Sustainable Development Goals (SDGs), and the Southern African Development Community (SADC) regional indicative strategic development plan (RISDP). Despite the opening up to the global world, developing countries such as the SADC continue to face exclusive and unstable economic growth, massive income disparity, and poverty. Considering the previous empirical work, many controversies are related to methodologies and measurement issues. The study attempted to examine the impact of trade openness on economic growth of the SADC countries as well as its effect on income inequality and poverty reduction from 1980 to 2019. The study builds on existing studies in the region that have mainly analysed this kind of relationship, assuming that it is only TO and economic growth (EGR) that matters. The study sought to address three analytical objectives. The first objective focused on examining the effects of trade openness on economic growth in the SADC countries. In addressing this objective, the Pooled Mean Group (PMG) was utilised, given the nature of the relationship between the variables of interest. The empirical results revealed that all measures of trade openness (real trade openness, economic globalisation, exports and imports of goods and services) used in the study have a positive effect on economic growth in SADC countries. This implies that the foreign factors account for a share of SADC's economic growth. The PMG indicates that the mediating variables of all measures of trade openness with human capital development have a positive effect on economic growth. This implies that the beneficial impact of the said measures of trade openness, are more effective when investment in human capital increases. The second objective focused on analysing trade openness's direct and indirect impact on income inequality using the PMG model again. The empirical results indicate that trade openness via exports has a negative effect on income inequality. In contrast, real trade openness and imports positively affect income inequality. This implies that the exports of goods and services in SADC are drivers of income inequality reduction while real trade openness and imports worsen it. Therefore, the SADC countries must be wary of real trade openness and import policies addressing income inequality. As for the interaction effects, the empirical results indicate that greater openness via real trade openness, economic globalisation, exports and imports reduce income inequality when economic growth increases and when the financial sector is more developed. The final analytical objective focused on analysing the effects of TO on poverty in the SADC region. The PMG model was utilised for trade openness-non-income poverty (NPOV) relationship. However, because there is a scarcity of income-poverty (IPOV) data, the time dimensions for the income poverty-trade openness model are smaller than the cross sections. Therefore, the current study employed the system generalised method of moments (SGMM) estimation technique which is a more effective and efficient estimation technique for controlling for endogeneity when the time dimension is smaller than the cross sections. The findings indicate that real trade openness has a positive effect on NPOV, whereas economic globalisation, exports, and imports negatively affect NPOV. This implies that real trade openness increases poverty reduction while economic globalisation, exports and imports exacerbate non-income poverty in SADC countries. On testing whether trade openness- NPOV relationship changes with economic growth, income inequality, human capital development, financial development and institutional quality, the complementary variable with EGR is positive and significant for real trade openness and exports, implying that real trade openness and exports reduce NPOV when economic growth increases. The SGMM indicates that only economic globalisation and imports have negative impact on income poverty in SADC countries. This implies that economic globalisation and imports are determinants of income poverty reduction in the SADC countries. The SADC governments and policymakers should be mindful about what ways they should globalise, what goods they export or imports to minimise income poverty. , Thesis (PhD) -- Faculty of Management and Commerce, 2022
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- Date Issued: 2022-01
Market timing and portfolio returns: an empirical analysis of the potential profitability of buy-sell strategies, based on South African equities 2009-2018
- Authors: Mulweli, Ramulongo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stocks -- Charts, diagrams, etc. , Investment analysis -- South Africa , Stocks -- South Africa , Stocks -- South Africa -- Cast studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144487 , vital:38350
- Description: South Africa’s financial markets have become larger and more complex over recent decades. The number of market participants who are using technical analysis techniques to predict the market’s movement has been growing rapidly. This research aims to investigate if historical share prices can be used when forecasting the market’s direction and to examine the profitability of the Japanese candlestick patterns. The study is based on ten companies selected from the JSE top 40 2019 composition. These are Aspen Pharmacy Holding, Capitec Bank Holding LTD, Discovery LTD, Kumba Iron Ore LTD, Mondi PLC, Mr. Price Group LTD, MTN Group LTD, Naspers LTD, SASOL LTD, and Shoprite Holdings LTD. These were selected from the JSE top 40 based on market capitalization and sector. This research analyzes eight candlestick reversal patterns; four are bullish patterns namely: doji star, hammer, bullish engulfing and the piercing lines and the other four are bearish patterns namely: shooting star, hanging man, bearish engulfing and the dark cloud cover. The ARCH and GARCH models are used to test for correlation between past share prices and future share prices and the binomial test and the mean return calculations were used to test the profitability of candlestick patterns. The sample is from Thomson DataStream 2019 and IRESS SA 2019 and covers ten years with 2496 observations starting from 02 January 2009 to 31 December 2018. The findings from the ARCH and GARCH tests revealed that there is a serial correlation between the returns from the previous day and the returns for the current day. The results from the mean returns and the binomial tests show strong evidence that the shooting star, hanging man, bearish engulfing and the bulling engulfing are statistically significant in predicting the share price movements. On the other hand, there was no evidence that the dark cloud cover, piercing lines, and the bullish doji can predict share price movements. Additionally, further studies on this topic could be improved by adding different candlestick patterns and the total number of companies analyzed. The results could also be improved by analyzing the candlestick reversal patterns when they are used with other trading rules such as support resistance levels and oscillators.
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- Date Issued: 2020
Volatility spillovers and determinants of contagion: a case of BRICS equity and foreign exchange markets
- Authors: Nyopa, Tšepiso
- Date: 2020
- Subjects: Uncatalogued
- Language: English
- Type: thesis , text , Masters , MCOM
- Identifier: http://hdl.handle.net/10962/164590 , vital:41146
- Description: Thesis (MSc)--Rhodes University, Faculty of Commerce, Economics and Economic History, 2020
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- Date Issued: 2020
Active vs passive portfolio management: an empirical analysis of selected South African equity funds
- Authors: Mphahlele, Phaswane Moatlegi
- Date: 2019
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/97846 , vital:31493
- Description: Expected release date-April 2020
- Full Text: false
- Date Issued: 2019