Formulating an IT governance framework
- Authors: Roos, Pieter
- Date: 2015
- Subjects: Corporate governance -- Information technology -- South Africa , Information technology -- Management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1156 , http://hdl.handle.net/10962/d1017541
- Description: Modern organisations make substantial investments in Information Technology (IT). Corporate governance practices can no longer ignore the importance of effectively governing IT. Consequently, the third King Report on Corporate Governance (King III) makes specific provision for IT governance, which is implemented through the establishment of an IT governance framework. The purpose of this research is to develop a generic IT governance framework, suitable to any large South African organisation in the public or private sector. The literature considered for this research confirmed the extent of standards and practices available in support of IT governance, together with the roles and structures required to implement them. These included well-known publications such as COBIT, Prince2, ITIL and ISO/IEC27000. Based on the literature review, a theoretical Processes, Enablers and Structures (PES) IT Governance Framework was formulated. The framework was further explored by means of a survey of and structured interview with ten Chief Information Officers (CIOs) of South African organisations with a turnover in excess of R1bn per annum. The final PES IT Governance Framework comprises three dimensions, each of which contains a set of constituent components: • Processes: Strategic Alignment, Value Delivery, Resource Management, Risk Management and Performance Measurement. • Enablers: IT Sub Processes, Supporting Documentation, IT Control Framework, Technology Architecture, Desirable Practice, IT Portfolio Management and Regulation. • Structures: The Board, Office of the CIO, IT Steering Committee, Technology Architecture Forum, IT Programme Management Office and Information Security Organisation. As the number of regulatory requirements and associated compliance pressures grow, the importance of an effective IT governance framework also becomes more prominent. The PES IT Governance Framework offers a uniquely practical approach to addressing IT governance principles that are often regarded as abstract. The final PES IT Governance Framework provides clear guidance on how organisations could implement an IT governance framework, which addresses the strategic alignment of IT to business, value delivery by IT investments, IT risk management, IT resource management and IT performance measurement.
- Full Text:
- Date Issued: 2015
- Authors: Roos, Pieter
- Date: 2015
- Subjects: Corporate governance -- Information technology -- South Africa , Information technology -- Management
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1156 , http://hdl.handle.net/10962/d1017541
- Description: Modern organisations make substantial investments in Information Technology (IT). Corporate governance practices can no longer ignore the importance of effectively governing IT. Consequently, the third King Report on Corporate Governance (King III) makes specific provision for IT governance, which is implemented through the establishment of an IT governance framework. The purpose of this research is to develop a generic IT governance framework, suitable to any large South African organisation in the public or private sector. The literature considered for this research confirmed the extent of standards and practices available in support of IT governance, together with the roles and structures required to implement them. These included well-known publications such as COBIT, Prince2, ITIL and ISO/IEC27000. Based on the literature review, a theoretical Processes, Enablers and Structures (PES) IT Governance Framework was formulated. The framework was further explored by means of a survey of and structured interview with ten Chief Information Officers (CIOs) of South African organisations with a turnover in excess of R1bn per annum. The final PES IT Governance Framework comprises three dimensions, each of which contains a set of constituent components: • Processes: Strategic Alignment, Value Delivery, Resource Management, Risk Management and Performance Measurement. • Enablers: IT Sub Processes, Supporting Documentation, IT Control Framework, Technology Architecture, Desirable Practice, IT Portfolio Management and Regulation. • Structures: The Board, Office of the CIO, IT Steering Committee, Technology Architecture Forum, IT Programme Management Office and Information Security Organisation. As the number of regulatory requirements and associated compliance pressures grow, the importance of an effective IT governance framework also becomes more prominent. The PES IT Governance Framework offers a uniquely practical approach to addressing IT governance principles that are often regarded as abstract. The final PES IT Governance Framework provides clear guidance on how organisations could implement an IT governance framework, which addresses the strategic alignment of IT to business, value delivery by IT investments, IT risk management, IT resource management and IT performance measurement.
- Full Text:
- Date Issued: 2015
Impact of the global financial crisis on economic growth: implications for South Africa and other developing economies
- Authors: Savy, Neil Edward
- Date: 2015
- Subjects: Global Financial Crisis, 2008-2009 , Gross domestic product -- Developing countries , Gross domestic product -- South Africa , Economic forecasting -- South Africa , Economic forecasting -- Developing countries , Economic development -- South Africa , Economic development -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1117 , http://hdl.handle.net/10962/d1017542
- Description: This paper examines the impact of the recent global financial crisis on economic growth in developing economies and South Africa in particular. It explores whether the events experienced by developing countries conform to what would be anticipated from economic theory. This is done by firstly comparing country growth forecasts for 2012 captured in 2008 at the beginning of the crisis to actual 2012 GDP growth data. Secondly, panel data analysis is used to investigate three important transmission channels, namely those of Trade, Capital Flows and Exchange Rates for 25 developing economies. The results suggest that economic forecasters in 2008 on average overestimated GDP growth for 2012 by -21.6 percent (excluding Venezuela). The only important transmission channel identified using Trend analysis to explain this negative impact on growth was capital flows. However when using Panel regression analysis all three channels were found to explain the economic impact of the crisis on GDP growth for developing countries, conforming to economic theory. It was discovered that, contrary to what was initially expected, portfolio inflows actually increased for most developing countries during the crisis. This possibly can be explained by the impact of quantitative easing in the USA. South Africa was found to have been negatively impacted by the global financial crisis, but to a lesser extent when compared to most other developing countries. The findings are important for global investors looking for new investment opportunities. The extent to which individual economies are “decoupled” from developed economies’ performance provides possible opportunities for diversifying risk through a geographic spread of investor portfolios.
- Full Text:
- Date Issued: 2015
- Authors: Savy, Neil Edward
- Date: 2015
- Subjects: Global Financial Crisis, 2008-2009 , Gross domestic product -- Developing countries , Gross domestic product -- South Africa , Economic forecasting -- South Africa , Economic forecasting -- Developing countries , Economic development -- South Africa , Economic development -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1117 , http://hdl.handle.net/10962/d1017542
- Description: This paper examines the impact of the recent global financial crisis on economic growth in developing economies and South Africa in particular. It explores whether the events experienced by developing countries conform to what would be anticipated from economic theory. This is done by firstly comparing country growth forecasts for 2012 captured in 2008 at the beginning of the crisis to actual 2012 GDP growth data. Secondly, panel data analysis is used to investigate three important transmission channels, namely those of Trade, Capital Flows and Exchange Rates for 25 developing economies. The results suggest that economic forecasters in 2008 on average overestimated GDP growth for 2012 by -21.6 percent (excluding Venezuela). The only important transmission channel identified using Trend analysis to explain this negative impact on growth was capital flows. However when using Panel regression analysis all three channels were found to explain the economic impact of the crisis on GDP growth for developing countries, conforming to economic theory. It was discovered that, contrary to what was initially expected, portfolio inflows actually increased for most developing countries during the crisis. This possibly can be explained by the impact of quantitative easing in the USA. South Africa was found to have been negatively impacted by the global financial crisis, but to a lesser extent when compared to most other developing countries. The findings are important for global investors looking for new investment opportunities. The extent to which individual economies are “decoupled” from developed economies’ performance provides possible opportunities for diversifying risk through a geographic spread of investor portfolios.
- Full Text:
- Date Issued: 2015
Influence of leadership styles on the business performance of family businesses in the Eastern Cape
- Authors: De Witt, Andrea
- Date: 2015
- Subjects: Family-owned business enterprises -- South Africa -- Eastern Cape , Leadership -- South Africa -- Eastern Cape , Performance
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9306 , http://hdl.handle.net/10948/d1018510
- Description: Given the importance of family businesses with regard to the economic growth of South Africa, and the fact that their high failure rates have a negative influence on the country’s economy, this study focused on ineffective leadership among family businesses and the influence thereof on business performance. People’s perceptions of leadership are changing, and an ethical, people-centred, character-orientated approach to leadership may be what businesses require. In addition, innovation and employee well-being are being given high priority, and leadership that is ethical and caring is of great importance. The primary objective of this study was twofold, firstly to establish the levels of Ethical, Authentic, Participative and Servant leadership displayed by family business owners and employees in the Eastern Cape, and secondly to establish the influence on the Perceived business performance of the family business of displaying these styles. Poor leadership was identified as a major challenge that family businesses are faced with, and a challenge that contributes to their high failure rate. The literature dealt with the nature and importance of leadership, and both traditional and contemporary leadership styles were elaborated on. The traditional leadership styles identified were autocratic, laissez-faire, transactional, transformational and participative leadership, while the contemporary styles identified and discussed were ethical, authentic and servant leadership. From the literature it was evident that a more ethical, people-centred, character-orientated approach to leadership may be what businesses require to be successful today. The literature highlighted Ethical, Authentic, Participative, and Servant leadership as the more character-orientated leadership styles that positively influence the performance of any business, including family businesses. These leadership styles formed the main focus of this study. In this study a quantitative research design was adopted and a descriptive study of a cross-sectional nature was undertaken. A convenience sampling technique was used owing to the inaccessibility of a family business database. The sample size in this study consisted of 250 small family businesses. A survey was undertaken and a structured, self-administered questionnaire was used to gather the necessary data. The measuring instrument was developed by sourcing items from several existing studies. Family business owners and employees working in the family business were approached by fieldworkers and asked to participate in the study. In total, 266 questionnaires were usable, 133 from family business owners and 133 from family business employees. An effective response rate of 53.20 percent was achieved. The validity and reliability of the measuring instrument were confirmed by means of an exploratory factor analysis (EFA) and by the calculation of Cronbach’s alpha coefficients. Descriptive statistics were calculated in order to summarise the sample data, while t-tests were used to determine whether the differences in mean scores returned by the family business owner and employee sample groups for the leadership styles under investigation, were significantly different from each other. Pearson’s product moment correlations were used to assess the associations between the variables under investigation. A multiple regression analysis (MRA) was used to assess the relationships between the independent variables and the dependent variable Perceived business performance. Lastly, the relationships between selected demographic variables and leadership styles displayed by family business owners were tested by means of an Analysis of Variance (ANOVA). Five factors were extracted from the EFA, four of which were considered for further analysis. The four usable factors extracted could be identified as the theoretical dimensions of Ethical leadership, Participative leadership, Perceived business performance and Servant leadership. The items measuring Ethical and Authentic leadership did not load as expected, as several items measuring the two factors loaded onto one factor. The Cronbach’s alpha coefficients returned for the four usable factors extracted from the EFA were greater than 0.7, and thus the scales measuring the independent and dependent variables provided satisfactory evidence of validity and reliability. The findings of this study show that for both the family business owner and employee sample group, Ethical leadership returned the highest mean score, followed by Servant and Participative leadership. The great majority of the family business owners therefore agreed that they adopted these leadership styles. In addition the majority of family business employees agreed that the family business owner, for whom they worked, adopted these leadership styles. T-tests were conducted to assess whether the differences in mean scores returned by the two sample groups were statistically significant. Significant differences were found between the means scores returned by both sample groups with regard to the level of Ethical and Servant leadership displayed by the family business owner. No significant difference was found between the mean scores returned by both sample groups for Participative leadership. This finding was not surprising, given that socially desirable bias occurs when individuals describe or rate themselves in a manner that is untruthful or in a way that they feel may be viewed favourably by others. From the MRA, no relationships were reported between the independent variables (Ethical, Participative and Servant leadership) and the dependent variable Perceived business performance. The results of ANOVA revealed that there was no relationship between the Gender, Age, Ethnicity, Tenure, Generation, Number of employees and the Nature of the family business and the Ethical, Participative, and Servant leadership styles. However, the results show that family business owners with a tertiary qualification are more likely to adopt a Participative leadership style. Despite no significant relationship found in this study, it is well supported in the literature that the leadership styles investigated have a positive influence on business performance. Family business owners should take cognisance of this, and measures should be taken to ensure that the leadership style implemented in their businesses is ethical, participative and servant-orientated. This study has attempted to enlarge the body of knowledge available on leadership, especially concerning the servant, ethical, people-centred and character-orientated leadership styles. The results of the study differ somewhat from existing literature, and therefore add to the body of knowledge on leadership. Furthermore, this study has addressed a gap in the current literature regarding the influence of leadership on business performance among family businesses in a developing economy such as South Africa.
- Full Text:
- Date Issued: 2015
- Authors: De Witt, Andrea
- Date: 2015
- Subjects: Family-owned business enterprises -- South Africa -- Eastern Cape , Leadership -- South Africa -- Eastern Cape , Performance
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9306 , http://hdl.handle.net/10948/d1018510
- Description: Given the importance of family businesses with regard to the economic growth of South Africa, and the fact that their high failure rates have a negative influence on the country’s economy, this study focused on ineffective leadership among family businesses and the influence thereof on business performance. People’s perceptions of leadership are changing, and an ethical, people-centred, character-orientated approach to leadership may be what businesses require. In addition, innovation and employee well-being are being given high priority, and leadership that is ethical and caring is of great importance. The primary objective of this study was twofold, firstly to establish the levels of Ethical, Authentic, Participative and Servant leadership displayed by family business owners and employees in the Eastern Cape, and secondly to establish the influence on the Perceived business performance of the family business of displaying these styles. Poor leadership was identified as a major challenge that family businesses are faced with, and a challenge that contributes to their high failure rate. The literature dealt with the nature and importance of leadership, and both traditional and contemporary leadership styles were elaborated on. The traditional leadership styles identified were autocratic, laissez-faire, transactional, transformational and participative leadership, while the contemporary styles identified and discussed were ethical, authentic and servant leadership. From the literature it was evident that a more ethical, people-centred, character-orientated approach to leadership may be what businesses require to be successful today. The literature highlighted Ethical, Authentic, Participative, and Servant leadership as the more character-orientated leadership styles that positively influence the performance of any business, including family businesses. These leadership styles formed the main focus of this study. In this study a quantitative research design was adopted and a descriptive study of a cross-sectional nature was undertaken. A convenience sampling technique was used owing to the inaccessibility of a family business database. The sample size in this study consisted of 250 small family businesses. A survey was undertaken and a structured, self-administered questionnaire was used to gather the necessary data. The measuring instrument was developed by sourcing items from several existing studies. Family business owners and employees working in the family business were approached by fieldworkers and asked to participate in the study. In total, 266 questionnaires were usable, 133 from family business owners and 133 from family business employees. An effective response rate of 53.20 percent was achieved. The validity and reliability of the measuring instrument were confirmed by means of an exploratory factor analysis (EFA) and by the calculation of Cronbach’s alpha coefficients. Descriptive statistics were calculated in order to summarise the sample data, while t-tests were used to determine whether the differences in mean scores returned by the family business owner and employee sample groups for the leadership styles under investigation, were significantly different from each other. Pearson’s product moment correlations were used to assess the associations between the variables under investigation. A multiple regression analysis (MRA) was used to assess the relationships between the independent variables and the dependent variable Perceived business performance. Lastly, the relationships between selected demographic variables and leadership styles displayed by family business owners were tested by means of an Analysis of Variance (ANOVA). Five factors were extracted from the EFA, four of which were considered for further analysis. The four usable factors extracted could be identified as the theoretical dimensions of Ethical leadership, Participative leadership, Perceived business performance and Servant leadership. The items measuring Ethical and Authentic leadership did not load as expected, as several items measuring the two factors loaded onto one factor. The Cronbach’s alpha coefficients returned for the four usable factors extracted from the EFA were greater than 0.7, and thus the scales measuring the independent and dependent variables provided satisfactory evidence of validity and reliability. The findings of this study show that for both the family business owner and employee sample group, Ethical leadership returned the highest mean score, followed by Servant and Participative leadership. The great majority of the family business owners therefore agreed that they adopted these leadership styles. In addition the majority of family business employees agreed that the family business owner, for whom they worked, adopted these leadership styles. T-tests were conducted to assess whether the differences in mean scores returned by the two sample groups were statistically significant. Significant differences were found between the means scores returned by both sample groups with regard to the level of Ethical and Servant leadership displayed by the family business owner. No significant difference was found between the mean scores returned by both sample groups for Participative leadership. This finding was not surprising, given that socially desirable bias occurs when individuals describe or rate themselves in a manner that is untruthful or in a way that they feel may be viewed favourably by others. From the MRA, no relationships were reported between the independent variables (Ethical, Participative and Servant leadership) and the dependent variable Perceived business performance. The results of ANOVA revealed that there was no relationship between the Gender, Age, Ethnicity, Tenure, Generation, Number of employees and the Nature of the family business and the Ethical, Participative, and Servant leadership styles. However, the results show that family business owners with a tertiary qualification are more likely to adopt a Participative leadership style. Despite no significant relationship found in this study, it is well supported in the literature that the leadership styles investigated have a positive influence on business performance. Family business owners should take cognisance of this, and measures should be taken to ensure that the leadership style implemented in their businesses is ethical, participative and servant-orientated. This study has attempted to enlarge the body of knowledge available on leadership, especially concerning the servant, ethical, people-centred and character-orientated leadership styles. The results of the study differ somewhat from existing literature, and therefore add to the body of knowledge on leadership. Furthermore, this study has addressed a gap in the current literature regarding the influence of leadership on business performance among family businesses in a developing economy such as South Africa.
- Full Text:
- Date Issued: 2015
Investment promotion: a Coega development corporation perspective
- Authors: Maduna, Thembinkosi Penford
- Date: 2015
- Subjects: Investments, Foreign -- South Africa -- Port Elizabeth , Economic development -- South Africa -- Port Elizabeth , Industrial development projects -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3614 , vital:20446
- Description: In March 2002, the Coega Development Cooperation (CDC) announced that the infrastructure design was complete, and the Coega Industrial Development Zone (IDZ) was declared the first IDZ in South Africa. The Coega IDZ was established to improve the delivery of infrastructure in the Eastern Cape by addressing skill shortages, unemployment, constrained planning and project management capacity, under-expenditure, sub-standard infrastructure, and inefficiencies that characterise delivery of infrastructure by government in South Africa generally and the Eastern Cape Province in particular. In the process, socio-economic development and transformation in the Eastern Cape and South Africa as a whole will be advanced. The primary objective of the study was to investigate the extent to which the various determinants of foreign direct investment (FDI) influence the investment promotion strategy (IPS) used by the CDC, and how these determinants can be used in the IPS to increase the number of signed investors at the CDC.
- Full Text:
- Date Issued: 2015
- Authors: Maduna, Thembinkosi Penford
- Date: 2015
- Subjects: Investments, Foreign -- South Africa -- Port Elizabeth , Economic development -- South Africa -- Port Elizabeth , Industrial development projects -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3614 , vital:20446
- Description: In March 2002, the Coega Development Cooperation (CDC) announced that the infrastructure design was complete, and the Coega Industrial Development Zone (IDZ) was declared the first IDZ in South Africa. The Coega IDZ was established to improve the delivery of infrastructure in the Eastern Cape by addressing skill shortages, unemployment, constrained planning and project management capacity, under-expenditure, sub-standard infrastructure, and inefficiencies that characterise delivery of infrastructure by government in South Africa generally and the Eastern Cape Province in particular. In the process, socio-economic development and transformation in the Eastern Cape and South Africa as a whole will be advanced. The primary objective of the study was to investigate the extent to which the various determinants of foreign direct investment (FDI) influence the investment promotion strategy (IPS) used by the CDC, and how these determinants can be used in the IPS to increase the number of signed investors at the CDC.
- Full Text:
- Date Issued: 2015
Livelihoods and climate change in Hamburg: issues for food security
- Authors: Martens, Brendon
- Date: 2015
- Subjects: Climatic changes -- South Africa -- Eastern Cape. , Climatic changes -- Risk management -- South Africa -- Eastern Cape , Climatic changes -- Effect of human beings on , Climatic changes -- Agriculture
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1116 , http://hdl.handle.net/10962/d1017538
- Description: Climate change continues to present a major challenge to food security around the world. The potential impact of climate change of rural livelihoods is especially significant as rural communities often rely heavily on natural resources to sustain their livelihoods and, hence, food security. This is applicable to the rural town of Hamburg, on the Eastern Cape coast of South Africa. The Sustainable Rural Livelihoods framework analyses livelihoods in terms of the context, available capitals and institutional framework that determines the livelihood strategies and outcomes for rural households. In terms of livelihood outcomes for Hamburg, it was found that the households have a heavy reliance on state grants in their livelihood portfolios. Natural resources, in the form of agriculture and harvesting of marine organisms, played only a supplementary role in livelihood strategies. Thus, given that climate change would impact negatively on the estuarine resources and the impact on agriculture is unknown as the climate becomes wetter and hotter, the impact on livelihoods and food security would not be significant. However, the sustainability of current livelihood strategies is questionable as grants, by their very nature, or unsustainable and therefore can result in vulnerability and food insecurity in the long-run for households. It is recommended that grants should be issued within the community, instead of in the distant town of Peddie, to help develop the local economy and reduce leakages. This would allow for diversification of livelihood strategies in Hamburg. In addition, government support through extension officers should be extended to Hamburg to assist in developing the local agriculture sector
- Full Text:
- Date Issued: 2015
- Authors: Martens, Brendon
- Date: 2015
- Subjects: Climatic changes -- South Africa -- Eastern Cape. , Climatic changes -- Risk management -- South Africa -- Eastern Cape , Climatic changes -- Effect of human beings on , Climatic changes -- Agriculture
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1116 , http://hdl.handle.net/10962/d1017538
- Description: Climate change continues to present a major challenge to food security around the world. The potential impact of climate change of rural livelihoods is especially significant as rural communities often rely heavily on natural resources to sustain their livelihoods and, hence, food security. This is applicable to the rural town of Hamburg, on the Eastern Cape coast of South Africa. The Sustainable Rural Livelihoods framework analyses livelihoods in terms of the context, available capitals and institutional framework that determines the livelihood strategies and outcomes for rural households. In terms of livelihood outcomes for Hamburg, it was found that the households have a heavy reliance on state grants in their livelihood portfolios. Natural resources, in the form of agriculture and harvesting of marine organisms, played only a supplementary role in livelihood strategies. Thus, given that climate change would impact negatively on the estuarine resources and the impact on agriculture is unknown as the climate becomes wetter and hotter, the impact on livelihoods and food security would not be significant. However, the sustainability of current livelihood strategies is questionable as grants, by their very nature, or unsustainable and therefore can result in vulnerability and food insecurity in the long-run for households. It is recommended that grants should be issued within the community, instead of in the distant town of Peddie, to help develop the local economy and reduce leakages. This would allow for diversification of livelihood strategies in Hamburg. In addition, government support through extension officers should be extended to Hamburg to assist in developing the local agriculture sector
- Full Text:
- Date Issued: 2015
Perceived undersupply of local labour in the presence of unemployment: a case of selected Sundays River Valley citrus farms, 2013
- Authors: Chirara, Malon Tinotenda
- Date: 2015
- Subjects: Unemployment -- South Africa -- Sundays River (Eastern Cape) , Citrus fruit industry -- South Africa -- Sundays River (Eastern Cape) , Labor market -- South Africa -- Sundays River (Eastern Cape) , Work environment -- South Africa -- Sundays River (Eastern Cape) , Agricultural wages -- South Africa -- Sundays River (Eastern Cape) , Agricultural laborers -- South Africa -- Sundays River (Eastern Cape) , Seasonal labor -- South Africa -- Sundays River (Eastern Cape) , Migrant agricultural laborers -- South Africa -- Sundays River (Eastern Cape) , Personnel management -- South Africa -- Sundays River (Eastern Cape)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1125 , http://hdl.handle.net/10962/d1020367
- Description: While skilled labour shortages are common in many countries, including South Africa, mainly due to a skills mismatch, the undersupply of unskilled labour was less expected, especially in developing countries with high unemployment. The thesis utilises data on perceived worker undersupply on selected citrus farms in the Sundays River Valley (SRV), located in the Eastern Cape Province of South Africa, collected in 2013, to analyse why unemployed residents, surprisingly, do not fill up vacancies on farms. In contrast to other labour markets, farm employment is not restricted by educational levels and as workers reported, with little training the various job tasks and skills required are easy and quick to grasp. At a time the government is trying to find ways of reducing unemployment, and the SRV Municipality (2012:29) reported approximately 42% unemployment, the question arises as to why the relatively low educated residents do not take advantage of the employment opportunities on farms. According to local workers and unemployed residents, the farm job was unattractive largely because of a combination of two factors: perceived relatively low salaries partly caused by the availability of migrant seasonal workers accepting lower remuneration and poor non-wage working conditions. The survey also found that farmers preferred migrant workers because they were more productive compared to their local counterparts who were, reportedly, characterised by high absenteeism and laziness, caused mainly by a reliance on social grants and alcohol abuse. Other reasons given for the unattractiveness of the farm job included the seasonal nature of farm employment, which left workers with no source of income in the offseason, the redundancy associated with farm tasks, perceived poor treatment of workers and lack of information on UIF and Provident funds to farm workers. To address problems associated with the dislike of farm work, seasonality of on-farm employment and the reportedly relatively low income, farm managers, the local municipality and the Labour Department could possibly be involved in creating more communal agricultural projects and help provide local community members to venture into supporting alternative careers within the Hospitality, Ecotourism and Conservation Industries through training programmes. Farm managers may need to consider improving their working relationship with workers in communication and when assigning tasks. Farmers and the local municipality could also consider investing in training programmes for the unemployed residents to equip them with technical skills that can improve their chances of finding jobs.
- Full Text:
- Date Issued: 2015
- Authors: Chirara, Malon Tinotenda
- Date: 2015
- Subjects: Unemployment -- South Africa -- Sundays River (Eastern Cape) , Citrus fruit industry -- South Africa -- Sundays River (Eastern Cape) , Labor market -- South Africa -- Sundays River (Eastern Cape) , Work environment -- South Africa -- Sundays River (Eastern Cape) , Agricultural wages -- South Africa -- Sundays River (Eastern Cape) , Agricultural laborers -- South Africa -- Sundays River (Eastern Cape) , Seasonal labor -- South Africa -- Sundays River (Eastern Cape) , Migrant agricultural laborers -- South Africa -- Sundays River (Eastern Cape) , Personnel management -- South Africa -- Sundays River (Eastern Cape)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1125 , http://hdl.handle.net/10962/d1020367
- Description: While skilled labour shortages are common in many countries, including South Africa, mainly due to a skills mismatch, the undersupply of unskilled labour was less expected, especially in developing countries with high unemployment. The thesis utilises data on perceived worker undersupply on selected citrus farms in the Sundays River Valley (SRV), located in the Eastern Cape Province of South Africa, collected in 2013, to analyse why unemployed residents, surprisingly, do not fill up vacancies on farms. In contrast to other labour markets, farm employment is not restricted by educational levels and as workers reported, with little training the various job tasks and skills required are easy and quick to grasp. At a time the government is trying to find ways of reducing unemployment, and the SRV Municipality (2012:29) reported approximately 42% unemployment, the question arises as to why the relatively low educated residents do not take advantage of the employment opportunities on farms. According to local workers and unemployed residents, the farm job was unattractive largely because of a combination of two factors: perceived relatively low salaries partly caused by the availability of migrant seasonal workers accepting lower remuneration and poor non-wage working conditions. The survey also found that farmers preferred migrant workers because they were more productive compared to their local counterparts who were, reportedly, characterised by high absenteeism and laziness, caused mainly by a reliance on social grants and alcohol abuse. Other reasons given for the unattractiveness of the farm job included the seasonal nature of farm employment, which left workers with no source of income in the offseason, the redundancy associated with farm tasks, perceived poor treatment of workers and lack of information on UIF and Provident funds to farm workers. To address problems associated with the dislike of farm work, seasonality of on-farm employment and the reportedly relatively low income, farm managers, the local municipality and the Labour Department could possibly be involved in creating more communal agricultural projects and help provide local community members to venture into supporting alternative careers within the Hospitality, Ecotourism and Conservation Industries through training programmes. Farm managers may need to consider improving their working relationship with workers in communication and when assigning tasks. Farmers and the local municipality could also consider investing in training programmes for the unemployed residents to equip them with technical skills that can improve their chances of finding jobs.
- Full Text:
- Date Issued: 2015
Perceptions on the use of social media in the banking industry
- Authors: Cupp, Nicole Leshaan
- Date: 2015
- Subjects: Banks and banking -- Customer services , Banks and banking -- Social aspects , Internet marketing -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5489 , vital:20870
- Description: As banks operate in a competitive environment, it is important for managers and marketers to identify how customer satisfaction and customer retention levels can be can be improved through social media aspects. Although models of customer satisfaction and customer retention have been well researched for client products/services, the literature available on social media as a marketing tool is limited in quantity compared to other more established areas of marketing. This research study reviews existing literature on the banking industry in terms of its characteristics and challenges. Literature on customer satisfaction and customer retention as relevant to the banking industry is reviewed, as well as how social media aspects can improve customer satisfaction and customer retention. Thus the primary objective of this study is to identify the social media aspects (benefits, clients’ trust and content) that influence the intervening variable (customer satisfaction) and dependent variable (customer retention) in the banking industry. An empirical investigation was undertaken to establish whether the independent variables; namely benefits, clients’ trust and content as related to social media can possibly influence customer satisfaction and ultimately customer retention in the banking industry. A positivistic research paradigm was followed for this study. Quantitative data was gathered by distributing questionnaires to a sample of bank clients and managers. The sample size consisted of 150 bank clients and 30 bank managers in the Nelson Mandela Metropolitan area in South Africa. The questionnaires were statistically analysed using the computer programmes Microsoft Excel and Statistica Version 12.0. The validity of the study was measured by utilising Exploratory Factor analysis. Cronbach’s Alpha correlation coefficients were calculated to measure the reliability and internal consistency of the measurement instrument of this study. Data was analysed in four phases. Descriptive statistics concerning the respondents and variables were calculated for this study. The validity of the measuring instrument was tested by performing EFA to consider construct validity. Thereafter, the internal reliability of the data was assessed using Cronbach’s Alpha correlation coefficients. Pearson’s product-moment correlation coefficients and multiple regression analyses were calculated. Through multiple regression calculations, the relationships predicted by the four hypotheses were analysed. Finally, t-tests and analysis of variance (ANOVA) tests were conducted. The empirical investigation revealed that significant positive relationships exist between the independent variables benefits, trustworthy content and the intervening variable customer satisfaction, as well as between these two independent variables and the dependent variable customer retention. From the empirical results it was concluded that if banks offer benefits and trustworthy content to their clients through social media channels, clients are likely to be satisfied with and retained by their bank. This study established and confirmed the significant positive relationship that exists between customer satisfaction and customer retention in the banking industry. All bank managers and marketers will benefit from the empirical results as well as the recommendations of this study on how to improve customer satisfaction and customer retention through social media channels which will ultimately improve the performance of banks.
- Full Text:
- Date Issued: 2015
- Authors: Cupp, Nicole Leshaan
- Date: 2015
- Subjects: Banks and banking -- Customer services , Banks and banking -- Social aspects , Internet marketing -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5489 , vital:20870
- Description: As banks operate in a competitive environment, it is important for managers and marketers to identify how customer satisfaction and customer retention levels can be can be improved through social media aspects. Although models of customer satisfaction and customer retention have been well researched for client products/services, the literature available on social media as a marketing tool is limited in quantity compared to other more established areas of marketing. This research study reviews existing literature on the banking industry in terms of its characteristics and challenges. Literature on customer satisfaction and customer retention as relevant to the banking industry is reviewed, as well as how social media aspects can improve customer satisfaction and customer retention. Thus the primary objective of this study is to identify the social media aspects (benefits, clients’ trust and content) that influence the intervening variable (customer satisfaction) and dependent variable (customer retention) in the banking industry. An empirical investigation was undertaken to establish whether the independent variables; namely benefits, clients’ trust and content as related to social media can possibly influence customer satisfaction and ultimately customer retention in the banking industry. A positivistic research paradigm was followed for this study. Quantitative data was gathered by distributing questionnaires to a sample of bank clients and managers. The sample size consisted of 150 bank clients and 30 bank managers in the Nelson Mandela Metropolitan area in South Africa. The questionnaires were statistically analysed using the computer programmes Microsoft Excel and Statistica Version 12.0. The validity of the study was measured by utilising Exploratory Factor analysis. Cronbach’s Alpha correlation coefficients were calculated to measure the reliability and internal consistency of the measurement instrument of this study. Data was analysed in four phases. Descriptive statistics concerning the respondents and variables were calculated for this study. The validity of the measuring instrument was tested by performing EFA to consider construct validity. Thereafter, the internal reliability of the data was assessed using Cronbach’s Alpha correlation coefficients. Pearson’s product-moment correlation coefficients and multiple regression analyses were calculated. Through multiple regression calculations, the relationships predicted by the four hypotheses were analysed. Finally, t-tests and analysis of variance (ANOVA) tests were conducted. The empirical investigation revealed that significant positive relationships exist between the independent variables benefits, trustworthy content and the intervening variable customer satisfaction, as well as between these two independent variables and the dependent variable customer retention. From the empirical results it was concluded that if banks offer benefits and trustworthy content to their clients through social media channels, clients are likely to be satisfied with and retained by their bank. This study established and confirmed the significant positive relationship that exists between customer satisfaction and customer retention in the banking industry. All bank managers and marketers will benefit from the empirical results as well as the recommendations of this study on how to improve customer satisfaction and customer retention through social media channels which will ultimately improve the performance of banks.
- Full Text:
- Date Issued: 2015
Push - and pull forces within outbound destination choice
- Authors: Ferreira, Daniel Petrus
- Date: 2015
- Subjects: Tourism -- Marketing Tourism -- South Africa -- Marketing Place marketing , Heritage tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11091 , vital:26884
- Description: Push- and pull forces are considered the most important motivational factors in driving tourism demand. Push forces are motivational forces that arise due to the individual’s need to travel, while pull forces are destination attributes which pull the traveller to the specific destination and in doing so they satisfy the need of the traveller. Understanding why people travel, how they go about selecting their holiday destination and why one country is preferred to the other, is vital to the continued success of the tourism industry. The needs and wants of travellers are constantly changing, therefore, it is imperative that tourism businesses excel at developing new products and services which are better suited to the needs of consumers. The primary objective of this study was to determine the push- and pull forces that influence outbound destination choice in Nelson Mandela Bay Metropole. The study investigated and analysed how the independent variables (push- and pull factors) influence destination choice (dependent variable). From a comprehensive literature review, a hypothetical model was developed to test the relationships between push-and pull forces and destination choice. Twelve hypotheses were formulated to test the relationship between four push forces, eight pull forces and destination choice. The study sought the perceptions of Nelson Mandela Bay Metropole residents and utitised the quantitative research paradigm. A survey was conducted with the aid of a structured self-administered questionnaire, distributed via e-mail and as a hard copy. A combination of convenience- and snowball sampling was utilised. The final sample comprised 302 respondents. The validity of the measuring instrument was ascertained by using exploratory factor analysis. The Cronbach’s alpha values for reliability were calculated for each of the factors identified during the exploratory factor analysis. The top ten destinations visited and intended to be visited were indicated. United Kingdom was the most visited international destination for both leisure and business purposes, while The United States of America was the most popular international destination to visit next for both leisure and business purposes. Pearson product-moment correlation and multiple regression analysis were used to test the correlation and significance of the relationships hypothesised between the various independent and dependent variables. Three statistically significant relationships were found between the push forces (physical and stature motivators and destination accessibility) and destination choice. Four statistically significant relationships were found between the pull forces (events, natural attractions, political issues and general infrastructure) and destination choice. The empirical findings further confirmed that an inter-relationship between push- and pull forces within destination choice does exist. However, pull forces influence push forces to a larger extent. Analysis of variance calculations were used to identify if significant relationships exist between the twelve demographic variables and nine reliable and valid independent variables. Furthermore, post-hoc Scheffè tests identified where the significant differences occurred between the different categories. Cohen’s d-values were calculated in order to assess the practical significance of the mean scores. A total of sixteen practical significant relationships were identified. Travel companies should compile travel packages and tours that serve the needs of both leisure- and business travellers. They can use social media as a communication- and promotion tool to entice travellers to specific destinations. The business travel packages should be all inclusive and include transportation, accommodation and even entries to events. The visual aids, utilised within the marketing material, should entice travellers to want to visit these destinations, and outline the favourable general infrastructure available. When marketing outbound destinations, travel service providers must pay attention to demographical variables such as gender, age, ethnical affiliation, income and marital status to compile travel packages that satisfy the needs of specific groups.
- Full Text:
- Date Issued: 2015
- Authors: Ferreira, Daniel Petrus
- Date: 2015
- Subjects: Tourism -- Marketing Tourism -- South Africa -- Marketing Place marketing , Heritage tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/11091 , vital:26884
- Description: Push- and pull forces are considered the most important motivational factors in driving tourism demand. Push forces are motivational forces that arise due to the individual’s need to travel, while pull forces are destination attributes which pull the traveller to the specific destination and in doing so they satisfy the need of the traveller. Understanding why people travel, how they go about selecting their holiday destination and why one country is preferred to the other, is vital to the continued success of the tourism industry. The needs and wants of travellers are constantly changing, therefore, it is imperative that tourism businesses excel at developing new products and services which are better suited to the needs of consumers. The primary objective of this study was to determine the push- and pull forces that influence outbound destination choice in Nelson Mandela Bay Metropole. The study investigated and analysed how the independent variables (push- and pull factors) influence destination choice (dependent variable). From a comprehensive literature review, a hypothetical model was developed to test the relationships between push-and pull forces and destination choice. Twelve hypotheses were formulated to test the relationship between four push forces, eight pull forces and destination choice. The study sought the perceptions of Nelson Mandela Bay Metropole residents and utitised the quantitative research paradigm. A survey was conducted with the aid of a structured self-administered questionnaire, distributed via e-mail and as a hard copy. A combination of convenience- and snowball sampling was utilised. The final sample comprised 302 respondents. The validity of the measuring instrument was ascertained by using exploratory factor analysis. The Cronbach’s alpha values for reliability were calculated for each of the factors identified during the exploratory factor analysis. The top ten destinations visited and intended to be visited were indicated. United Kingdom was the most visited international destination for both leisure and business purposes, while The United States of America was the most popular international destination to visit next for both leisure and business purposes. Pearson product-moment correlation and multiple regression analysis were used to test the correlation and significance of the relationships hypothesised between the various independent and dependent variables. Three statistically significant relationships were found between the push forces (physical and stature motivators and destination accessibility) and destination choice. Four statistically significant relationships were found between the pull forces (events, natural attractions, political issues and general infrastructure) and destination choice. The empirical findings further confirmed that an inter-relationship between push- and pull forces within destination choice does exist. However, pull forces influence push forces to a larger extent. Analysis of variance calculations were used to identify if significant relationships exist between the twelve demographic variables and nine reliable and valid independent variables. Furthermore, post-hoc Scheffè tests identified where the significant differences occurred between the different categories. Cohen’s d-values were calculated in order to assess the practical significance of the mean scores. A total of sixteen practical significant relationships were identified. Travel companies should compile travel packages and tours that serve the needs of both leisure- and business travellers. They can use social media as a communication- and promotion tool to entice travellers to specific destinations. The business travel packages should be all inclusive and include transportation, accommodation and even entries to events. The visual aids, utilised within the marketing material, should entice travellers to want to visit these destinations, and outline the favourable general infrastructure available. When marketing outbound destinations, travel service providers must pay attention to demographical variables such as gender, age, ethnical affiliation, income and marital status to compile travel packages that satisfy the needs of specific groups.
- Full Text:
- Date Issued: 2015
Recent developments in banking supervision and the soundness of the financial system : a comparative study of South Africa, Brazil and China
- Authors: Gutu, Taurai Fortune
- Date: 2015
- Subjects: Basel III (2010) , Bank management -- South Africa , Bank management -- Brazil , Bank management -- China , Global Financial Crisis, 2008-2009 , Ratio analysis , Liquidity (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1130 , http://hdl.handle.net/10962/d1020892
- Description: While the 2008 financial crisis has come and gone, its effects on the global financial sector still show. Globalisation has since changed the way that banks do business, and increased competitiveness and with it the level of risk within the international banking community. Therefore, because of these prolonged effects of the financial crisis and the rise in the level of risk in banking, regulators deemed it fit to make the global financial sector safer and sounder. As a result, the BASEL III Capital Accord was introduced with tighter capital adequacy and liquidity ratio requirements; as well as also introducing the leverage ratio. In this paper, through the study of the rules and regulations on banks in South Africa, Brazil and China, it was discovered that all three countries have since begun the implementation of the new Accord as from January 2013. While preparatory measures may be different, there is a general sense of regulatory alignment among the three countries. By analysing the capital adequacy, liquidity and leverage ratios of the three countries, it was also established that these ratios are interconnected, with the capital adequacy ratio being the most important one. The study concludes that, with proper implementation of these ratios and effective management, countries implementing the BASEL III regulations would be in a stronger position to achieve soundness in their banking systems. , Gutu, Taurai Fortunate
- Full Text:
- Date Issued: 2015
- Authors: Gutu, Taurai Fortune
- Date: 2015
- Subjects: Basel III (2010) , Bank management -- South Africa , Bank management -- Brazil , Bank management -- China , Global Financial Crisis, 2008-2009 , Ratio analysis , Liquidity (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1130 , http://hdl.handle.net/10962/d1020892
- Description: While the 2008 financial crisis has come and gone, its effects on the global financial sector still show. Globalisation has since changed the way that banks do business, and increased competitiveness and with it the level of risk within the international banking community. Therefore, because of these prolonged effects of the financial crisis and the rise in the level of risk in banking, regulators deemed it fit to make the global financial sector safer and sounder. As a result, the BASEL III Capital Accord was introduced with tighter capital adequacy and liquidity ratio requirements; as well as also introducing the leverage ratio. In this paper, through the study of the rules and regulations on banks in South Africa, Brazil and China, it was discovered that all three countries have since begun the implementation of the new Accord as from January 2013. While preparatory measures may be different, there is a general sense of regulatory alignment among the three countries. By analysing the capital adequacy, liquidity and leverage ratios of the three countries, it was also established that these ratios are interconnected, with the capital adequacy ratio being the most important one. The study concludes that, with proper implementation of these ratios and effective management, countries implementing the BASEL III regulations would be in a stronger position to achieve soundness in their banking systems. , Gutu, Taurai Fortunate
- Full Text:
- Date Issued: 2015
Revenue, welfare and trade effects of EU FTA on South Africa
- Authors: Guei, Kore Marc Antoine
- Date: 2015
- Subjects: Commercial treaties , Free trade -- European Union countries , Free trade -- South Africa , European Union countries -- Commercial policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6137 , vital:21042
- Description: The study used the partial equilibrium WITS-SMART Simulation Model to assess the impact of liberalization under the Trade Development and Cooperation Agreement (TDCA) of a free trade area between the EU and South Africa. The findings of the study reveal that total trade effects in South Africa are likely to surge by US$ 1.036 billion with a total welfare valued at US$ 134 million. Dismantling tariffs on all EU goods would be beneficial to consumers through net trade creation. Total trade creation would be US$ 782 million. However, South African producers are likely to contribute a trade diversion of US$ 254 million which has a negative impact on consumer welfare. The country might also experience a revenue loss amounting to US$ 562 million due to the removal of tariffs. On trade, the country’s export and import to the EU is expected to increase by US$ 12.419 million and US$ 1.266 million respectively. To mitigate revenue loss, the country should try to diversify its current tax base.
- Full Text:
- Date Issued: 2015
- Authors: Guei, Kore Marc Antoine
- Date: 2015
- Subjects: Commercial treaties , Free trade -- European Union countries , Free trade -- South Africa , European Union countries -- Commercial policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6137 , vital:21042
- Description: The study used the partial equilibrium WITS-SMART Simulation Model to assess the impact of liberalization under the Trade Development and Cooperation Agreement (TDCA) of a free trade area between the EU and South Africa. The findings of the study reveal that total trade effects in South Africa are likely to surge by US$ 1.036 billion with a total welfare valued at US$ 134 million. Dismantling tariffs on all EU goods would be beneficial to consumers through net trade creation. Total trade creation would be US$ 782 million. However, South African producers are likely to contribute a trade diversion of US$ 254 million which has a negative impact on consumer welfare. The country might also experience a revenue loss amounting to US$ 562 million due to the removal of tariffs. On trade, the country’s export and import to the EU is expected to increase by US$ 12.419 million and US$ 1.266 million respectively. To mitigate revenue loss, the country should try to diversify its current tax base.
- Full Text:
- Date Issued: 2015
Sources of change in the money stock
- Smith, Robert Ayreton Bailey
- Authors: Smith, Robert Ayreton Bailey
- Date: 2015
- Subjects: Money supply -- South Africa , Money -- South Africa , Banks and banking, Central -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1118 , http://hdl.handle.net/10962/d1017543
- Description: This research provides an historical, theoretical and practical appraisal of exogenous and endogenous money and money creation, with South Africa as the focus of the practical investigation. Monetary theory of recent decades can be categorised as belonging to one of two distinct paradigms: mainstream (neoclassical) or post Keynesian. The mainstream (orthodox) view presents a Euclidian or Cartesian, ergodic, deductive, and axiomatic theoretical interpretation of the world. This is perpetuated through the continued, and inaccurate, depiction in academia of exogenous money creation, the money multiplier concept, asset transformation by banks, imposed alterations to the money stock by central banks and long-run closed system equilibrium models (and associated homogeneity, and long term behavioural assumptions). In the real world, economic agents, structures, institutions and their interrelations are perpetually evolving. The post Keynesian paradigm provides the theoretical framework within which to understand such a world. Unfortunately the necessity for a multiplicity of methods and methodology makes it a paradigm that is currently prohibitively complex, preventing simple exposition. Money creation should, both historically, and according to the analysis conducted, be defined according to the actual source of change in the money stock, that is, credit extension. In a nonergodic world, changes in the stock of money take on a causal role with regard the initiation of productive processes, and thus influence future economic conditions. The simple, although powerful, technique of balance sheet analysis conducted herein provides a detailed method of identification of causal changes in money stock. Within the context of the institutional and structural environment, it clearly demonstrates the residual nature of money m modern economies. This research serves to emphasise the importance of monetary matters for economic management, as well as the important difference between the money creation process and the residual deposit securities. It serves also to discourage the perpetuation of fallacies of money creation, and capabilities of monetary authorities. In South Africa, as in most countries, the central bank can influence the conditions under which borrowers and banks mutually create money, but do not themselves create or distribute money beyond the facilitation of credit extension by banks
- Full Text:
- Date Issued: 2015
- Authors: Smith, Robert Ayreton Bailey
- Date: 2015
- Subjects: Money supply -- South Africa , Money -- South Africa , Banks and banking, Central -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1118 , http://hdl.handle.net/10962/d1017543
- Description: This research provides an historical, theoretical and practical appraisal of exogenous and endogenous money and money creation, with South Africa as the focus of the practical investigation. Monetary theory of recent decades can be categorised as belonging to one of two distinct paradigms: mainstream (neoclassical) or post Keynesian. The mainstream (orthodox) view presents a Euclidian or Cartesian, ergodic, deductive, and axiomatic theoretical interpretation of the world. This is perpetuated through the continued, and inaccurate, depiction in academia of exogenous money creation, the money multiplier concept, asset transformation by banks, imposed alterations to the money stock by central banks and long-run closed system equilibrium models (and associated homogeneity, and long term behavioural assumptions). In the real world, economic agents, structures, institutions and their interrelations are perpetually evolving. The post Keynesian paradigm provides the theoretical framework within which to understand such a world. Unfortunately the necessity for a multiplicity of methods and methodology makes it a paradigm that is currently prohibitively complex, preventing simple exposition. Money creation should, both historically, and according to the analysis conducted, be defined according to the actual source of change in the money stock, that is, credit extension. In a nonergodic world, changes in the stock of money take on a causal role with regard the initiation of productive processes, and thus influence future economic conditions. The simple, although powerful, technique of balance sheet analysis conducted herein provides a detailed method of identification of causal changes in money stock. Within the context of the institutional and structural environment, it clearly demonstrates the residual nature of money m modern economies. This research serves to emphasise the importance of monetary matters for economic management, as well as the important difference between the money creation process and the residual deposit securities. It serves also to discourage the perpetuation of fallacies of money creation, and capabilities of monetary authorities. In South Africa, as in most countries, the central bank can influence the conditions under which borrowers and banks mutually create money, but do not themselves create or distribute money beyond the facilitation of credit extension by banks
- Full Text:
- Date Issued: 2015
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Authors: Brock, Kelcey
- Date: 2015
- Subjects: Cricket -- South Africa -- Eastern Cape , Cricket -- Social aspects , Consumption (Economics) , Consumer behavior
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1115 , http://hdl.handle.net/10962/d1017534
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspect that underpins or at least to some extent can be used to explain consumption behaviour. Modern consumption behaviour theory is anthropocentric in nature, with people and societal influence at the forefront of the theory. To date, empirical studies on consumption behaviour of cultural activities (for example, music and arts), entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to suggest that consumption of leisure activities is bound up in social ties. To date, no such investigation has been conducted in the context of sport in South Africa. The aim of the study therefore is to investigate whether South African cricket spectators are sporting omnivores or univores, thus, essentially investigating whether sports consumption behaviour in South Africa is bound up in social ties. A number of positive economic and social ramifications could result from gaining a holistic understanding of sports consumption behaviour in South Africa. Given these ramifications, the secondary goal of the research is to identify motives for consumers making specific sport consumption decisions, and determining whether certain characteristics can be attributed to these consumption decisions. Recommendations based on the findings of the research could help various stakeholders understand sports consumption patterns in South Africa, which could in turn lead to the realization of positive economic and social benefits. The study made use of a questionnaire, administered at four different limited overs cricket matches in the 2012/13 cricket season, to obtain a range of responses reflecting specific types of consumption behaviour as well as motives for consumption decisions of cricket spectators in the Eastern Cape. Using individual binary probit models and post estimation F-tests, the results indicate that consumption behaviour of sport within South Africa predominantly differs on the grounds of education and race. This suggests that there are aspects of social connotations underpinning sports consumption behaviour within South Africa
- Full Text:
- Date Issued: 2015
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Authors: Brock, Kelcey
- Date: 2015
- Subjects: Cricket -- South Africa -- Eastern Cape , Cricket -- Social aspects , Consumption (Economics) , Consumer behavior
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1115 , http://hdl.handle.net/10962/d1017534
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspect that underpins or at least to some extent can be used to explain consumption behaviour. Modern consumption behaviour theory is anthropocentric in nature, with people and societal influence at the forefront of the theory. To date, empirical studies on consumption behaviour of cultural activities (for example, music and arts), entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to suggest that consumption of leisure activities is bound up in social ties. To date, no such investigation has been conducted in the context of sport in South Africa. The aim of the study therefore is to investigate whether South African cricket spectators are sporting omnivores or univores, thus, essentially investigating whether sports consumption behaviour in South Africa is bound up in social ties. A number of positive economic and social ramifications could result from gaining a holistic understanding of sports consumption behaviour in South Africa. Given these ramifications, the secondary goal of the research is to identify motives for consumers making specific sport consumption decisions, and determining whether certain characteristics can be attributed to these consumption decisions. Recommendations based on the findings of the research could help various stakeholders understand sports consumption patterns in South Africa, which could in turn lead to the realization of positive economic and social benefits. The study made use of a questionnaire, administered at four different limited overs cricket matches in the 2012/13 cricket season, to obtain a range of responses reflecting specific types of consumption behaviour as well as motives for consumption decisions of cricket spectators in the Eastern Cape. Using individual binary probit models and post estimation F-tests, the results indicate that consumption behaviour of sport within South Africa predominantly differs on the grounds of education and race. This suggests that there are aspects of social connotations underpinning sports consumption behaviour within South Africa
- Full Text:
- Date Issued: 2015
Stalking black swans, dragon kings, and market crashes on the JSE
- Authors: Zuka, Mawethu
- Date: 2015
- Subjects: Johannesburg Stock Exchange -- Research Stock exchanges -- South Africa , Stocks -- South Africa -- Johannesburg Financial crises -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/18376 , vital:28631
- Description: This paper examines bubbles on the JSE All Share Index as well as the critical time of the stock market crash from 2/01/ 2004 – 27/03/2014. The underlying hypothesis define bubbles as extreme and begin as a group of small events which grow in a super exponential form explained by a log periodic power law model (LPPL model). The hypothesis is based on the assumption of investors’ herding behavior, where investors collude by making investment decision correlated with their counterparties. The paper implements a Savitzky Golary Algorithm to detect peaks and calculate the critical time of the crash from the peaks. An Ordinary Least Squares (OLS) method is used to determine both the value of stock market price index at the critical time and the increase in the stock market price index over the time before the crash. The remaining parameters of the LPPL model are estimated using a Maximum Likelihood Estimation method. On the empirical results; 68 peaks were detected, and the LPPL model at the critical crash time is estimated 34736.586. Five bubbles are detected; the 15/8/2005 bubble, 28/5/2013 bubble, 23/8/2013 bubble, 5/11/2013, and 1/20/2014.
- Full Text:
- Date Issued: 2015
- Authors: Zuka, Mawethu
- Date: 2015
- Subjects: Johannesburg Stock Exchange -- Research Stock exchanges -- South Africa , Stocks -- South Africa -- Johannesburg Financial crises -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/18376 , vital:28631
- Description: This paper examines bubbles on the JSE All Share Index as well as the critical time of the stock market crash from 2/01/ 2004 – 27/03/2014. The underlying hypothesis define bubbles as extreme and begin as a group of small events which grow in a super exponential form explained by a log periodic power law model (LPPL model). The hypothesis is based on the assumption of investors’ herding behavior, where investors collude by making investment decision correlated with their counterparties. The paper implements a Savitzky Golary Algorithm to detect peaks and calculate the critical time of the crash from the peaks. An Ordinary Least Squares (OLS) method is used to determine both the value of stock market price index at the critical time and the increase in the stock market price index over the time before the crash. The remaining parameters of the LPPL model are estimated using a Maximum Likelihood Estimation method. On the empirical results; 68 peaks were detected, and the LPPL model at the critical crash time is estimated 34736.586. Five bubbles are detected; the 15/8/2005 bubble, 28/5/2013 bubble, 23/8/2013 bubble, 5/11/2013, and 1/20/2014.
- Full Text:
- Date Issued: 2015
Taxing the Minerals Sector in South Africa: a comparative analysis of the proposed tax model for South Africa and the models adopted in selected African countries
- Authors: Van den Berg, Jana
- Date: 2015
- Subjects: Industrial minerals -- Taxation -- South Africa , Industrial minerals -- Taxation -- Developing countries , Industrial minerals -- Law and legislation -- South Africa , Industrial minerals -- Law and legislation -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:919 , http://hdl.handle.net/10962/d1017545
- Description: The State Intervention in the Minerals Sector Report emerged as a resolution during the 3rd National General Council Resolution on Economic Transformation held in 2012, during which the Council stated that: “The ANC’s approach to economic transformation of the South African economy should always be holistic and comprehensive, covering all sectors of the economy. In this regard, the ANC should ensure greater state involvement and control of strategic sectors of the economy, such as mining, energy, the financial sector and others.” It was for this reason that the National General Council mandated the National Executive Committee to ensure that further work be done on ways in which the African National Congress can implement economic transformation in sectors such as the mining industry. It was suggested that methods including research, study tours and discussions be conducted to gather the required information. As a result of the research, The State Intervention in the Minerals Sector Report emerged. In The State Intervention in the Minerals Sector Report, the mineral sectors of developed as well as developing countries are compared with each other. The developing countries compared included Botswana, Zambia, Ghana, Liberia and Sierra Leone, and these countries have also been selected for the purpose of comparison in the present research. The goal of this study is to analyse the recommendations made in The State Intervention in the Minerals Sector Report regarding State involvement in the minerals sector. To determine whether the economic situation in South Africa is comparable to the five other African countries, an analysis based on demographic indicators, the history of the minerals sector in the various countries, its contribution to the fiscal regime of that country, its economic contribution, as well as the extent of involvement from Government and the model implemented for its involvement, is conducted. According to a work paper published by the World Bank on the world development indicators for 2014, control over metal supply to the economy has been considered vital for political and economic reasons in most societies. It further states that most State-owned mining companies have over the years and, in particular, in developing countries, not been able to operate successfully, leading to privatisation. Poor performance is, however, not necessarily the reason for State ownership. Areas not addressed by this thesis include the Gold Mining industry in South Africa and the Diamond mining industry in Botswana.
- Full Text:
- Date Issued: 2015
- Authors: Van den Berg, Jana
- Date: 2015
- Subjects: Industrial minerals -- Taxation -- South Africa , Industrial minerals -- Taxation -- Developing countries , Industrial minerals -- Law and legislation -- South Africa , Industrial minerals -- Law and legislation -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:919 , http://hdl.handle.net/10962/d1017545
- Description: The State Intervention in the Minerals Sector Report emerged as a resolution during the 3rd National General Council Resolution on Economic Transformation held in 2012, during which the Council stated that: “The ANC’s approach to economic transformation of the South African economy should always be holistic and comprehensive, covering all sectors of the economy. In this regard, the ANC should ensure greater state involvement and control of strategic sectors of the economy, such as mining, energy, the financial sector and others.” It was for this reason that the National General Council mandated the National Executive Committee to ensure that further work be done on ways in which the African National Congress can implement economic transformation in sectors such as the mining industry. It was suggested that methods including research, study tours and discussions be conducted to gather the required information. As a result of the research, The State Intervention in the Minerals Sector Report emerged. In The State Intervention in the Minerals Sector Report, the mineral sectors of developed as well as developing countries are compared with each other. The developing countries compared included Botswana, Zambia, Ghana, Liberia and Sierra Leone, and these countries have also been selected for the purpose of comparison in the present research. The goal of this study is to analyse the recommendations made in The State Intervention in the Minerals Sector Report regarding State involvement in the minerals sector. To determine whether the economic situation in South Africa is comparable to the five other African countries, an analysis based on demographic indicators, the history of the minerals sector in the various countries, its contribution to the fiscal regime of that country, its economic contribution, as well as the extent of involvement from Government and the model implemented for its involvement, is conducted. According to a work paper published by the World Bank on the world development indicators for 2014, control over metal supply to the economy has been considered vital for political and economic reasons in most societies. It further states that most State-owned mining companies have over the years and, in particular, in developing countries, not been able to operate successfully, leading to privatisation. Poor performance is, however, not necessarily the reason for State ownership. Areas not addressed by this thesis include the Gold Mining industry in South Africa and the Diamond mining industry in Botswana.
- Full Text:
- Date Issued: 2015
Teacher perceptions regarding training and their subsequent ability to integrate ICTs into marginalised rural schools : The ICT4RED Case Study
- Authors: Nkula, Kanya Zonke
- Date: 2015
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:20978 , http://hdl.handle.net/10962/5798
- Description: It is well documented that Information and Communication Technologies (ICTs) play an important role in education and that their use is associated with improving student learning and adding value to the curriculum. However, despite the opportunities that ICTs offer, numerous schools in South Africa face various barriers that result in the limited use of ICTs in the classroom. Literature has highlighted the lack of integration as one of these barriers. Teachers focus on teaching about ICTs where the focus is on developing computer literacy or technical knowledge rather than allowing students to learn through or with ICTs. This thesis aims to explore the concept of ICT integration in rural schools, where ICTs form an integral part of teaching and learning practices. It presents a number of theoretical considerations for ICT integration with a particular focus on teacher pedagogical beliefs and barriers to integration. Using interpretivism as the underlying philosophy and thematic analysis as the analysis tool, the author reflects on ICT integration in the ICT4RED project at Arthur Mfebe Senior Secondary School in the Eastern Cape Province. Furthermore, this thesis offers an in-depth understanding of integration barriers in rural marginalised schools. These barriers are presented in Thematic Maps as well as a framework which incorporates both theoretical considerations and themes that emerged from fieldwork.
- Full Text:
- Date Issued: 2015
- Authors: Nkula, Kanya Zonke
- Date: 2015
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:20978 , http://hdl.handle.net/10962/5798
- Description: It is well documented that Information and Communication Technologies (ICTs) play an important role in education and that their use is associated with improving student learning and adding value to the curriculum. However, despite the opportunities that ICTs offer, numerous schools in South Africa face various barriers that result in the limited use of ICTs in the classroom. Literature has highlighted the lack of integration as one of these barriers. Teachers focus on teaching about ICTs where the focus is on developing computer literacy or technical knowledge rather than allowing students to learn through or with ICTs. This thesis aims to explore the concept of ICT integration in rural schools, where ICTs form an integral part of teaching and learning practices. It presents a number of theoretical considerations for ICT integration with a particular focus on teacher pedagogical beliefs and barriers to integration. Using interpretivism as the underlying philosophy and thematic analysis as the analysis tool, the author reflects on ICT integration in the ICT4RED project at Arthur Mfebe Senior Secondary School in the Eastern Cape Province. Furthermore, this thesis offers an in-depth understanding of integration barriers in rural marginalised schools. These barriers are presented in Thematic Maps as well as a framework which incorporates both theoretical considerations and themes that emerged from fieldwork.
- Full Text:
- Date Issued: 2015
Text data analysis for a smart city project in a developing nation
- Authors: Currin, Aubrey Jason
- Date: 2015
- Subjects: Natural language processing (Computer science) Human computation Human-computer interaction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2227 , vital:27709
- Description: Increased urbanisation against the backdrop of limited resources is complicating city planning and management of functions including public safety. The smart city concept can help, but most previous smart city systems have focused on utilising automated sensors and analysing quantitative data. In developing nations, using the ubiquitous mobile phone as an enabler for crowdsourcing of qualitative public safety reports, from the public, is a more viable option due to limited resources and infrastructure limitations. However, there is no specific best method for the analysis of qualitative text reports for a smart city in a developing nation. The aim of this study, therefore, is the development of a model for enabling the analysis of unstructured natural language text for use in a public safety smart city project. Following the guidelines of the design science paradigm, the resulting model was developed through the inductive review of related literature, assessed and refined by observations of a crowdsourcing prototype and conversational analysis with industry experts and academics. The content analysis technique was applied to the public safety reports obtained from the prototype via computer assisted qualitative data analysis software. This has resulted in the development of a hierarchical ontology which forms an additional output of this research project. Thus, this study has shown how municipalities or local government can use CAQDAS and content analysis techniques to prepare large quantities of text data for use in a smart city.
- Full Text:
- Date Issued: 2015
- Authors: Currin, Aubrey Jason
- Date: 2015
- Subjects: Natural language processing (Computer science) Human computation Human-computer interaction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2227 , vital:27709
- Description: Increased urbanisation against the backdrop of limited resources is complicating city planning and management of functions including public safety. The smart city concept can help, but most previous smart city systems have focused on utilising automated sensors and analysing quantitative data. In developing nations, using the ubiquitous mobile phone as an enabler for crowdsourcing of qualitative public safety reports, from the public, is a more viable option due to limited resources and infrastructure limitations. However, there is no specific best method for the analysis of qualitative text reports for a smart city in a developing nation. The aim of this study, therefore, is the development of a model for enabling the analysis of unstructured natural language text for use in a public safety smart city project. Following the guidelines of the design science paradigm, the resulting model was developed through the inductive review of related literature, assessed and refined by observations of a crowdsourcing prototype and conversational analysis with industry experts and academics. The content analysis technique was applied to the public safety reports obtained from the prototype via computer assisted qualitative data analysis software. This has resulted in the development of a hierarchical ontology which forms an additional output of this research project. Thus, this study has shown how municipalities or local government can use CAQDAS and content analysis techniques to prepare large quantities of text data for use in a smart city.
- Full Text:
- Date Issued: 2015
The economics of institutions, institutional governance and efficiency: the case of water distribution in Lower Sundays River Valley
- Authors: Madigele, Patricia Kefilwe
- Date: 2015
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/54777 , vital:26611
- Description: The institutional dynamics, policies and legislation that were prevalent during the apartheid era have left imprints that are difficult to ignore as they still dictate the interaction between different elements in the water sector to date. During the apartheid era, the formulation of policies was informed by racial segregation, resulting in a socio-economic pattern that dictated the distribution and access of resources for the people of different races in the country. Post-apartheid, the National Water Act has established the basis for management of water resources on a catchment basis (for equity, efficiency and sustainability), and the Water Services Act aims to ensure everybody has access to basic water supply and sanitation services. Regardless of the improvements in water supply to the rural sector made by the South African government, many of the current patterns of water use are still characterised by inequality, inefficiency, and inadequacy. The poor remain marginalised, and emerging farmers and poor rural communities have limited access to water resources while water continues to be used inefficiently by some farmers in the agricultural sector with few incentives to improve its water use efficiency. Despite the existence of the thriving citrus industry in the area, around 60% of people in the Sundays River Valley Municipality (SRVM) live below the poverty datum line. The inequality between the municipal populace and the commercial citrus industry is noticeable and the inequitable water redistribution is prevalent in the Lower Sundays River Valley (LSRV). The problem of disrupted water supply is prevalent in the catchment. However, there is also currently no physical shortage of water in the catchment. Therefore, the currently experienced problems with water supply in the LSRV are consequence of a lack of effective institutions and infrastructure, not of physical water scarcity. It is argued in this paper that there is a notable lack of understanding about the design of institutions for water management in developing countries. The vast majority of research on water management and access is premised on neoclassical economics ideas related to water markets and pricing among others. The neoclassical economics approach, however, does not adequately define the role of institutions in shaping the direction of water access and supply. This study uses new institutional economics (NIE) arguments to define the institutional arrangements and dynamics defining the water sector in South Africa, using the Lower Sunday River Water Users Association (LSR-WUA) as the case study. It aims at analysing the institutional governance and performance of the using equity, efficiency and effectiveness as key indicators. The various research methods employed in this study include; interpretive and post-positivist paradigms, quantitative and qualitative research, the case study research method and in-depth key informant interviews. It is concluded that that the current and future decisions made by the LSR-WUA are not entirely independent of those made in the past under Sundays River Irrigation Board (SRIB). The thesis argues that such factors as old effective networks, vested interests of commercial farmers, sunk costs towards the building of canals, among other factors, may have influenced the dependence of the LSR-WUA on the SRIB’s set path. It is further concluded that the absence of contractual agreement between the LRS-WUA which acts as the bulk water supplier, and the SRVM which acts as both the water services authority (WSA) and the water service provider (WSP) creates an institutional arrangement deficiency. Such an institutional arrangement vacuum can lead to a failure of the water institutions in the catchment to provide water resources effectively. The study further argues that because the post-apartheid National Water Policy of South Africa is largely influenced by neoclassical economics foundations, the desired results in the water sector, such as equitable distribution of water resources, have not yet been fulfilled completely.
- Full Text:
- Date Issued: 2015
- Authors: Madigele, Patricia Kefilwe
- Date: 2015
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/54777 , vital:26611
- Description: The institutional dynamics, policies and legislation that were prevalent during the apartheid era have left imprints that are difficult to ignore as they still dictate the interaction between different elements in the water sector to date. During the apartheid era, the formulation of policies was informed by racial segregation, resulting in a socio-economic pattern that dictated the distribution and access of resources for the people of different races in the country. Post-apartheid, the National Water Act has established the basis for management of water resources on a catchment basis (for equity, efficiency and sustainability), and the Water Services Act aims to ensure everybody has access to basic water supply and sanitation services. Regardless of the improvements in water supply to the rural sector made by the South African government, many of the current patterns of water use are still characterised by inequality, inefficiency, and inadequacy. The poor remain marginalised, and emerging farmers and poor rural communities have limited access to water resources while water continues to be used inefficiently by some farmers in the agricultural sector with few incentives to improve its water use efficiency. Despite the existence of the thriving citrus industry in the area, around 60% of people in the Sundays River Valley Municipality (SRVM) live below the poverty datum line. The inequality between the municipal populace and the commercial citrus industry is noticeable and the inequitable water redistribution is prevalent in the Lower Sundays River Valley (LSRV). The problem of disrupted water supply is prevalent in the catchment. However, there is also currently no physical shortage of water in the catchment. Therefore, the currently experienced problems with water supply in the LSRV are consequence of a lack of effective institutions and infrastructure, not of physical water scarcity. It is argued in this paper that there is a notable lack of understanding about the design of institutions for water management in developing countries. The vast majority of research on water management and access is premised on neoclassical economics ideas related to water markets and pricing among others. The neoclassical economics approach, however, does not adequately define the role of institutions in shaping the direction of water access and supply. This study uses new institutional economics (NIE) arguments to define the institutional arrangements and dynamics defining the water sector in South Africa, using the Lower Sunday River Water Users Association (LSR-WUA) as the case study. It aims at analysing the institutional governance and performance of the using equity, efficiency and effectiveness as key indicators. The various research methods employed in this study include; interpretive and post-positivist paradigms, quantitative and qualitative research, the case study research method and in-depth key informant interviews. It is concluded that that the current and future decisions made by the LSR-WUA are not entirely independent of those made in the past under Sundays River Irrigation Board (SRIB). The thesis argues that such factors as old effective networks, vested interests of commercial farmers, sunk costs towards the building of canals, among other factors, may have influenced the dependence of the LSR-WUA on the SRIB’s set path. It is further concluded that the absence of contractual agreement between the LRS-WUA which acts as the bulk water supplier, and the SRVM which acts as both the water services authority (WSA) and the water service provider (WSP) creates an institutional arrangement deficiency. Such an institutional arrangement vacuum can lead to a failure of the water institutions in the catchment to provide water resources effectively. The study further argues that because the post-apartheid National Water Policy of South Africa is largely influenced by neoclassical economics foundations, the desired results in the water sector, such as equitable distribution of water resources, have not yet been fulfilled completely.
- Full Text:
- Date Issued: 2015
The effect of strike action on the value and volatility of the South African Rand
- Authors: Gordon, Ross Patrick
- Date: 2015
- Subjects: Foreign exchange rates -- South Africa , Strikes and lockouts -- South Africa -- Economic aspects , South Africa -- Foreign economic relations , South Africa -- Economic conditions -- 1991- , Rand, South African , Dollar, American
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1124 , http://hdl.handle.net/10962/d1020018
- Description: This study analyses whether the advent of strike action has an effect on the value and volatility of the South African Rand compared with the US Dollar. The literature suggests that strike action can have a significant effect on the exchange rate in terms of either value or volatility, and consequences can result that cause inefficiencies in the economy; inhibiting employment and economic growth. Strike action has become common place in South Africa, with 2012 alone recording 99 strikes, 45 of which were “wildcat” or unprotected strikes. This study uses GARCH and Intervention Analyses to determine what the resulting effects of the strikes might be on the exchange rate. The analysis used ZAR/USD exchange rate data for the period January 2000 to October 2013, and covered 72 of the most significant strikes in terms of lost man-days. The results are mixed, suggesting that the effects of strikes do not always conform to expectations (increased volatility and a depreciation in the Rand), and that outside factors affecting the global economy may have a more significant effect on the exchange rate than strikes on their own.
- Full Text:
- Date Issued: 2015
- Authors: Gordon, Ross Patrick
- Date: 2015
- Subjects: Foreign exchange rates -- South Africa , Strikes and lockouts -- South Africa -- Economic aspects , South Africa -- Foreign economic relations , South Africa -- Economic conditions -- 1991- , Rand, South African , Dollar, American
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1124 , http://hdl.handle.net/10962/d1020018
- Description: This study analyses whether the advent of strike action has an effect on the value and volatility of the South African Rand compared with the US Dollar. The literature suggests that strike action can have a significant effect on the exchange rate in terms of either value or volatility, and consequences can result that cause inefficiencies in the economy; inhibiting employment and economic growth. Strike action has become common place in South Africa, with 2012 alone recording 99 strikes, 45 of which were “wildcat” or unprotected strikes. This study uses GARCH and Intervention Analyses to determine what the resulting effects of the strikes might be on the exchange rate. The analysis used ZAR/USD exchange rate data for the period January 2000 to October 2013, and covered 72 of the most significant strikes in terms of lost man-days. The results are mixed, suggesting that the effects of strikes do not always conform to expectations (increased volatility and a depreciation in the Rand), and that outside factors affecting the global economy may have a more significant effect on the exchange rate than strikes on their own.
- Full Text:
- Date Issued: 2015
The effectiveness of risk mangement in local government with reference to the Nelson Mandela Bay Minicipality
- Authors: Sihlali, Siphosihle
- Date: 2015
- Subjects: Risk management -- South Africa -- Nelson Mandela Bay Municipality
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/4407 , vital:20596
- Description: In the 1960s, risk management primarily took the form of purchased insurance against force majeure events. Today, many corporate executives are worried about not only these types of events but also many others (Mair and Cendrowski, 2009:3). “People risks” versus environmental risks, financial risks and technical risks are examples of risks that are often overlooked. People risks include, succession planning (this refers to identifying and developing key talent) and competency and skills building (dealing with employees that do not have requisite skills for success), (William & Paul, 2007:4). Massingham (2010:464) mentions that corporate disasters, such as the collapse of Enron, have increased the need for effective corporate governance, while catastrophic natural disasters, man-made tragedies such as the September 11 terrorist attacks and tsunami of 2004, have increased risk awareness as well as its consequences.
- Full Text:
- Date Issued: 2015
- Authors: Sihlali, Siphosihle
- Date: 2015
- Subjects: Risk management -- South Africa -- Nelson Mandela Bay Municipality
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/4407 , vital:20596
- Description: In the 1960s, risk management primarily took the form of purchased insurance against force majeure events. Today, many corporate executives are worried about not only these types of events but also many others (Mair and Cendrowski, 2009:3). “People risks” versus environmental risks, financial risks and technical risks are examples of risks that are often overlooked. People risks include, succession planning (this refers to identifying and developing key talent) and competency and skills building (dealing with employees that do not have requisite skills for success), (William & Paul, 2007:4). Massingham (2010:464) mentions that corporate disasters, such as the collapse of Enron, have increased the need for effective corporate governance, while catastrophic natural disasters, man-made tragedies such as the September 11 terrorist attacks and tsunami of 2004, have increased risk awareness as well as its consequences.
- Full Text:
- Date Issued: 2015
The impact of biofuels on food prices, lessons from the experiences of Brazil and U.S. (1995-2013)
- Authors: Ncube, Free P
- Date: 2015
- Subjects: Biomass energy -- Economic aspects Food prices -- Brazil Food prices -- United States , Energy crops -- Economic aspects|zBrazil
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2150 , vital:27616
- Description: Using crops for fuel generates concerns over competition with food uses. As Rajagopal et al (2009) asserts, “In 2008 the world entered a food crisis amid record-high commodity and energy prices that induced hunger and political unrest in developing countries, by export restrictions in top grain-producing countries”. This took place at the same time when biofuel production, reached its pinnacle in developed countries. This paper examines the effect that biofuel prices and or production has had on food prices in Brazil and U.S. by employing the panel cointegration and Dynamic Ordinary Least Squares (DOLS) method of analysis. In regressing food prices as a function of demand and supply factors, such as oil prices, biofuel prices, interest rates and biofuel production, the study found that the increase in biofuels production over the past eighteen years has had a significant impact on food prices. Over the period January 1995- December 2013, the study estimates that a one hundred percent increase in biofuels production across time and between countries results in the increase of food prices by 21,9%. The study therefore rejects the null hypothesis that states, biofuel production does not have a statistically significant negative impact on food prices in U.S. and Brazil. , and accepts the alternative that biofuel production does have a statistically significant negative impact on food prices in U.S. and Brazil. Other predictors of food prices that the study revealed as significant were oil and interest rates. Policy recommendations for other countries like South Africa are therefore, made based on the results obtained.
- Full Text:
- Date Issued: 2015
- Authors: Ncube, Free P
- Date: 2015
- Subjects: Biomass energy -- Economic aspects Food prices -- Brazil Food prices -- United States , Energy crops -- Economic aspects|zBrazil
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/2150 , vital:27616
- Description: Using crops for fuel generates concerns over competition with food uses. As Rajagopal et al (2009) asserts, “In 2008 the world entered a food crisis amid record-high commodity and energy prices that induced hunger and political unrest in developing countries, by export restrictions in top grain-producing countries”. This took place at the same time when biofuel production, reached its pinnacle in developed countries. This paper examines the effect that biofuel prices and or production has had on food prices in Brazil and U.S. by employing the panel cointegration and Dynamic Ordinary Least Squares (DOLS) method of analysis. In regressing food prices as a function of demand and supply factors, such as oil prices, biofuel prices, interest rates and biofuel production, the study found that the increase in biofuels production over the past eighteen years has had a significant impact on food prices. Over the period January 1995- December 2013, the study estimates that a one hundred percent increase in biofuels production across time and between countries results in the increase of food prices by 21,9%. The study therefore rejects the null hypothesis that states, biofuel production does not have a statistically significant negative impact on food prices in U.S. and Brazil. , and accepts the alternative that biofuel production does have a statistically significant negative impact on food prices in U.S. and Brazil. Other predictors of food prices that the study revealed as significant were oil and interest rates. Policy recommendations for other countries like South Africa are therefore, made based on the results obtained.
- Full Text:
- Date Issued: 2015