An investigation into the relationship of job satisfaction, organisational commitment and the intention to quit among academics and administrative employees at the University of Fort Hare
- Authors: Gomomo, Nokuzola Ruth
- Date: 2014
- Subjects: Job satisfaction -- South Africa -- Eastern Cape Employee retention -- South Africa -- Eastern Cape Employees -- Resignation -- South Africa -- Eastern Cape Labor turnover -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/1730 , vital:27553
- Description: University of Fort Hare Human Resource Department reports show evidence relating to high labour turnover. Between 2009 and 2012 there was a high degree of labour turnover. A total 1127 staff left the University. This study investigated the relationship between job satisfaction, organisational commitment and intention to quit among academics and administrative employees at the University of Fort Hare. Data was collected from a random sample of 289 employees of the University staff. To obtain data in this study a questionnaire was utilised. This questionnaire was divided into four sections viz, biographical information, measured ten-items which range from age to condition of employment, Halpern’s (1966) seven-level evaluation scale was utilised to measure job satisfaction, to measure organisational commitment, Meyer, and Allen (1984) 24-item rating point scale was applied and Canmann, Fichman, Jenkins and Klesh’s questionnaire was used to measure intention to quit. Data analysis was performed by way of several statistical techniques, including the Pearson Product Moment Correlation Technique and Multiple Regression analysis. The results obtained revealed that job satisfaction has a significant positive correlation with intention to leave while organisational commitment showed no substantial correlation with intention to quit work.
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- Date Issued: 2014
Determinants of the yield curve in South Africa
- Authors: Ngonyama, Nomasomi
- Date: 2014
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11496
- Description: The yield curve has been the subject of many studies for some time, mainly in predicting recessions, economic growth and inflation. However, scant work is available on what drives the yield spread. Given this, the paper examines the determinants of the yield curve in South Africa by using time series econometric analysis over the period 2000-2012. Some key variables considered include inflation, economic growth, budget deficit, and monetary policy. To separate the long and short run effects, VECM was employed after ensuring stationarity of the series. The study found that a long run relationship exist between the yield spread, inflation, GDP, budget deficit, Repo rate, Real effective exchange rate and a money supply (M1). The Results of this thesis have implications for policy and academic work.
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- Date Issued: 2014
Exchange rate misalignment and economic growth: a case study of South Africa
- Authors: Rudd, Bernice Nicolette
- Date: 2014
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/894 , vital:26507
- Description: The relationship between a country’s real exchange rate (RER) misalignment and economic growth has attracted much attention from both academic and policy perspective. This study examines the relationship between the exchange rate misalignment and economic growth in South Africa, by specifically looking at the fundamental determinants of the real exchange rate and the impact of the misalignment on economic growth for the period 1980 to 2012. This study employs the Johansen cointegration technique and the Vector Error Correction Model. The empirical results revealed that terms of trade, government consumption expenditure, net foreign assets, broad money supply and technological productivity are important factors in determining the RER in South Africa. In addition to the misalignment variable, terms of trade, government spending, private business investment and broad money supply were also found to influence economic growth in South Africa. This suggest that authorities can influence the behaviour of the exchange rate in South Africa through altering one of its fundaments. The results suggest that a RER misalignment has a negative effect on economic growth in South Africa. Thus policies aimed at maintaining an equilibrium RER should be pursued.
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- Date Issued: 2014
The effect of real exchange rate volatility on export performance: evidence from South Africa (2000-2011)
- Authors: Chamunorwa, Wilson
- Date: 2014
- Subjects: Monetary policy -- South Africa , Economic development -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11499 , http://hdl.handle.net/10353/d1018600 , Monetary policy -- South Africa , Economic development -- South Africa , Foreign exchange rates -- South Africa
- Description: The effect of real exchange rate volatility on export performance: evidence from South Africa (2000-2011) This study sought to investigate the relationship between exchange rate volatility and export performance in South Africa. The main objective of the study was to examine the impact of exchange rate volatility on export performance in South Africa. This relationship was examined using GARCH methods. Exports were regressed against real effective exchange rate, trade openness and capacity utilisation. The research aimed to establish whether exchange rate volatility impacts negatively on export performance in the manner suggested by the econometric model. The result obtained showed that exchange rate volatility had a significantly negative effect on South African exports in the period 2000-2011.
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- Date Issued: 2014
The impact of financial development on private investment in south Africa
- Authors: Mukuya, Prisca R
- Date: 2014
- Subjects: Economic development -- South Africa , Gross domestic product -- South Africa , Investments, Foreign -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11488 , http://hdl.handle.net/10353/d1018210 , Economic development -- South Africa , Gross domestic product -- South Africa , Investments, Foreign -- South Africa
- Description: Empirical evidence and theoretical propositions suggest that financial development is strongly correlated to private investment because financial development positively affects investments by affecting capital accumulation, altering savings rate or by channelizing savings to various capital producing technologies. This study empirically investigated the impact of financial development on private investment in South Africa using quarterly data for the period 1994/01 to 2011/04. This study assess whether the theoretical and empirical propositions can be supported in South Africa. Cointegration tests using the Johansen approach (1988) were conducted to examine if there is a stable relationship in the level of private investment and financial development in South Africa. As a proxy for financial sector development, credit to private sector as per cent of GDP and stock market development were employed. Other variables that affect investment such as real interest rates and real GDP were also included in the model. Results of the study indicate that stock market development and real GDP have a positive relationship with private investment. Bank credit to the private sector however showed a negative relationship with private investment. A negative relationship was also noted for the relationship between private investment and real interest rates.
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- Date Issued: 2014
The impact of financial intermediaries on the savings-investment ratio in South Africa
- Authors: Mtimkhulu, Ayibongwe Joseph
- Date: 2014
- Subjects: Saving and investment -- South Africa , Intermediation (Finance) -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11484 , Saving and investment -- South Africa , Intermediation (Finance) -- South Africa
- Description: This study examined whether or not financial intermediation can explain the variations in the savings-investment ratio in South Africa during the period 1990 to 2012. The study specifically tests the McKinnon Conduit Effect hypothesis which states that increasing interest rate raises the capacity of financial savings via financial intermediaries based on data from South Africa. Apart from informal graphical test, this study employed formal tests such as the Augmented Dickey-Fuller and Phillips Perron stationarity tests to test the properties of the variables considered, including interest rates, for stationarity. In order to ascertain the long-run and short-run dynamics between its variables, the Johansen co-integration test is utilized, while the Error Correction Mechanism is also employed. Results from the study state that financial assets (a proxy for financial intermediation), income and real interest rate all positively impact the savings-investment ratio. Additionally, short-run analysis results showed that income, financial assets and real interest rates positively influence the savings-investment ratio. Real interest rates were seen as being both positive and statistically significant. Therefore the study recommended that the financial services sector and the South African Reserve Bank (SARB) should work together as this will result in the improvement of efficiencies in price discovery with regards to bank charges, access to banking facilities and the timely provision of services in order to encourage savings (for investment purposes) in the South African economy.
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- Date Issued: 2014
The impact of oil price changes on selected economic indicators in South Africa
- Authors: Vellem, Nomtha
- Date: 2014
- Subjects: Petroleum industry and trade -- South Africa , Foreign exchange rates -- South Africa , Interest rate futures -- South Africa , Economic indicators -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11485 , http://hdl.handle.net/10353/d1017862 , Petroleum industry and trade -- South Africa , Foreign exchange rates -- South Africa , Interest rate futures -- South Africa , Economic indicators -- South Africa
- Description: The study examines the effect of oil price changes on selected economic indicators in South Africa. A VAR-5 model was applied to quarterly data of 1990:Q1-2012:Q4 estimating the impulse response functions, variance decomposition and Granger-causality tests. The findings allow for a conclusion that oil significantly affects the exchange rate and an inverse link between oil and GDP exists. A unidirectional relation is found where oil Granger-causes the exchange rate and GDP Granger-causes oil in South Africa.
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- Date Issued: 2014
The impact of oil price volatility on unemployment: a case study of South Africa
- Authors: Senzangakhona, Phakama
- Date: 2014
- Subjects: Cointegration -- South Africa Foreign exchange rates -- South Africa Interest rate futures -- South Africa Petroleum products -- Prices -- South Africa Petroleum industry and trade -- South Africa -- Econometric models
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/1697 , vital:27550
- Description: This study analyses and investigates the impact of crude oil price vitality on unemployment in South Africa. This is done by firstly surveying theoretical and empirical literature on the crude oil price-unemployment relationship before relating it to South Africa. Secondly, crude oil and unemployment trends with their causes are overviewed. The study employs a Johansen co-integration technique based on VAR to model unemployment against crude oil prices, real effective exchange rate, real interest rates and real gross domestic product. Using quarterly data for the period 1990-2010, econometric results show that crude oil prices are positively related to unemployment in the long run while the opposite is true in the short run. Parameter estimates and variables are statistically significant; hence there are also policy recommendations which are related to both empirical and theoretical literature. Lastly, impulse response functions show that unemployment returns to equilibrium in the long run when crude oil price changes whereas real interest rates followed by crude oil prices explain most of unemployment changes compared to other variables in the long run.
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- Date Issued: 2014
The interaction between the stock market and macroeconomic variables in South Africa
- Authors: Ntshangase, Khanyisa
- Date: 2014
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11491 , http://hdl.handle.net/10353/d1018271
- Description: This study investigates the interaction between stock market and macroeconomic variables in South Africa. Apart from the stock market being a channel to raise capital, another important role of the stock market is to provide correct valuation of stocks and promote efficient allocation of capital. This is important given the great need of investment capital in a country such as South Africa. Utilising quarterly data for the period from 1994 to 2012, the study employs the Johansen cointegration test and the Vector Error Correction Model (VECM) to analyse the relationship between these important variables due to the simultaneous nature of the relationship between the variables. Empirical results indicate that all the variables have a significant relationship with the stock market. The findings in this study suggest that it is important to achieve macroeconomic equilibrium in South Africa because any disequilibrium in macroeconomics feeds into the stock market and it is likely to affect investor decision making and hence access to capital by companies listed on the stock exchange.
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- Date Issued: 2014