A Veblenian Dichotomy re-examination of labour brokerage and South African labour market functionality
- Authors: Haaketa, Bernadatte Tina
- Date: 2020
- Subjects: Veblen, Thorstein, 1857-1929 , Contracting out -- South Africa , Temporary employment -- South Africa , Industrial relations -- South Africa , Labor supply -- South Africa , Labor supply -- Effect of technological innovations on -- South Africa , Manpower policy -- South Africa , Labor market -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/168446 , vital:41583
- Description: Labour markets ar ound the world have witnessed a great change in labour relations. The introduction of globa lisation, increased competition and technological advancements has caused business organisations to change their employment methods. While trying to survive and remain profitable, employers have adopted a new form of triangular employment relationship. Thi s form of employment relationship known as labour broking and which forms part of the Temporary Employment Services (TES) involves a relationship between the worker, labour agent (broker) and a client c ompany. Although it may seem like a good strategy for business organisations, the change in employment relationships has had negative effects and contributed to labour market dysfunctionalities . This has resulted in critics of labour broking calling or an end in labour broking and supporters of labour broking asking for better regulation of the industry. Labour markets are me When it comes to analysing labour broking and its impact on labour market functionality in South Africa. Scholars and analysts such as Budlender ( 2013 ) and Bhorat, Lil enstein, Oosthuizen , and Thornton ( 2016 ) have used the Neoclassical , New Institutional Economics and Marxist approach es. The current views on labour broking and the current schools of thought fail to look at the underlying behavioural aspect of labour brokers and the client c ompanies. Hence making it easy for labour brokers and their client companies to continue with their unscrupulous activities. However, this t hesis adapted the Veblenian Dichotomy framework which focuses on understanding the role of the evolutionary proce ss and the role of institutions in shaping economic behaviour. The Veblenian dichotomy shows that power plays an important role in how labour markets are run. Similarly, behaviour also influences the manner in which labour brokers and client companies trea t workers. And lastly the Veblenian dichotomy shows that in order for the industry to be run better there has to be change in the behaviour and cultu re of the labour brokers and client companies . This view allows for deeper analysis of the reasons for the flour ishing nature of labour broking and the rationale behind the behaviour of economic players and attempts to provide solutions on how labour brok ing can be correctly administered in South Africa. The Veblenian Dichotomy categorises institutions into t wo sets, namely the ceremonial institutions and instrumental institutions. Where Ceremonial institutions are said to be institutions that foster the interests of business such as profitability and earning of free income, even if there is no corresponding i ncrease in production. While Instrumental institutions, usually working through the influence of technology, address the interests of the common pers on and the labourer as well as business (Waller, 1982; Foster, 1981; Veblen, 1919). These two systems of va lues and institutions are antagonistic and the relative strength of one to the other determines economic outcomes and in whose interests the outcomes would be (Waller, 1982; Foster, 1981; Veblen, 1919). The Veblenian Dichotomy further looks at ceremonial encapsulation which occurs when ceremonial systems prevail over instrumental systems. Ceremonial encapsulation presents the hypothesis that the insti tutional structure will absorb new technology only to the extent that it can do so without disrupting the e xisting value structure (Waller, 1987; Bush, 1979.) The thesis use d various sources , such as working papers, public hearings, court cases, trade union submissions, integrated reports from companies, employee submissions and media publications on the debate about labour broking whether labour broking and applied the Interpretative Phenomenological Analysi s (IPA) research approach, in the process of data collection and analysis . The thesis further applied thematic analysis to derive themes that would be used to analyse the impact of labour broking on labour market functionality in South Africa. The emergent themes and subthemes were Exploitative lab our relations subthemes; job Insecurity, increased financial burden and no skills development. The second theme was; Competitive advantage and the subthemes were; i ncreased profits and organisational efficiency. The third theme was l abour market efficiency and the subthemes were. E mployment creation and labour market flexibility. And, the last theme was a mbiguous l abour regulation s with subthemes; n o freedom of association and a tool for circumventing labour regulations . Lastly, Tool’s (1994) criteria of j udgement for institutional adjustments was used to evaluate the emergent themes and to evaluate the impact of l abour broking on the overall welfare of individuals, which includes determining whether employees in the TES sector gain skills and improved stan dards of living. The findings of the research the TES sector is characterised by ceremonial values. Ceremonial values (as mentioned in section 3.3) are those values that are warranted by the ways of life that prescribe status and hierarchies and unpleasant distinctions to apply value and status on other people (Bush, 1987, 1988; Ayres, 1967). Thus changing the way in which labour brokers conduct themselves or handle labour broking activities would prove to be difficult . T he power that is mostly used in TES employment sectors is condign power. Condign power is explained as the form of power that is predominantly used in ceremonially encapsulated markets. And it involves making use of punishment or fear in order to get people to do something. This is because w orkers in the TES sector are forced to submit to conditions that they would not normally have submitted to if t hey did not have a fear of losing their jobs. This supports existing literature which shows that in the TES sector, TES employers use force and p ower in order to get the workers to do something, and this results in a master - servant relationship between the employer and the employee. Furthermore, the protests that erupt in the TES sector agree with Marxist theory which notes that the frustrations in the way workers are treated would result in a revolution of the working class against the employers. However, now, workers have not been able to overcome the employers and take over the industry. In addition to what current literature says, the research found that some managers make use of labour broking as a way of manifesting their exploitative characteristics on the labour market, thus creating information asymmetries in order to advance their own personal needs. Situations such as these reve al characteristics of opportunistic behaviour, which is perpetuated by the imperfect flow of information. This means th at the market is imperfect, and imperfect markets are characteristics of dysfunctional labour markets. The research also found that it i s the South African Constitution that protects labour brokers and client companies from accounting for the unfair treatm ent of workers. Labour brokers and client companies rely on the South African Constitution to defend them when it comes to banning labou r broking. This is because section 22 of the Constitution talks about the right of every individual to trade freely in S outh Africa (Kutumela, 2015). When institutional adjustments do not meet the requirements of the progressive criteria, it means they are regressive. Based on the data that was collected and the responses and remarks of the workers, trade unions, and trade union federations, it can be said that TES employment and labour broking hinders labour market functionality. Hence, it can be concluded that, due to the characteristics mentioned, labour broking does indeed have a regressive element which hinders labour m arket functionality. An area for further research for TES employment would be to look at the impact of the amendments to the Labour Rela tions Act. Specifically focusing on the Constitutional Court ruling, which forces labour brokers to treat employees who have been employed for longer than three months as permanent employees.
- Full Text:
- Date Issued: 2020
- Authors: Haaketa, Bernadatte Tina
- Date: 2020
- Subjects: Veblen, Thorstein, 1857-1929 , Contracting out -- South Africa , Temporary employment -- South Africa , Industrial relations -- South Africa , Labor supply -- South Africa , Labor supply -- Effect of technological innovations on -- South Africa , Manpower policy -- South Africa , Labor market -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/168446 , vital:41583
- Description: Labour markets ar ound the world have witnessed a great change in labour relations. The introduction of globa lisation, increased competition and technological advancements has caused business organisations to change their employment methods. While trying to survive and remain profitable, employers have adopted a new form of triangular employment relationship. Thi s form of employment relationship known as labour broking and which forms part of the Temporary Employment Services (TES) involves a relationship between the worker, labour agent (broker) and a client c ompany. Although it may seem like a good strategy for business organisations, the change in employment relationships has had negative effects and contributed to labour market dysfunctionalities . This has resulted in critics of labour broking calling or an end in labour broking and supporters of labour broking asking for better regulation of the industry. Labour markets are me When it comes to analysing labour broking and its impact on labour market functionality in South Africa. Scholars and analysts such as Budlender ( 2013 ) and Bhorat, Lil enstein, Oosthuizen , and Thornton ( 2016 ) have used the Neoclassical , New Institutional Economics and Marxist approach es. The current views on labour broking and the current schools of thought fail to look at the underlying behavioural aspect of labour brokers and the client c ompanies. Hence making it easy for labour brokers and their client companies to continue with their unscrupulous activities. However, this t hesis adapted the Veblenian Dichotomy framework which focuses on understanding the role of the evolutionary proce ss and the role of institutions in shaping economic behaviour. The Veblenian dichotomy shows that power plays an important role in how labour markets are run. Similarly, behaviour also influences the manner in which labour brokers and client companies trea t workers. And lastly the Veblenian dichotomy shows that in order for the industry to be run better there has to be change in the behaviour and cultu re of the labour brokers and client companies . This view allows for deeper analysis of the reasons for the flour ishing nature of labour broking and the rationale behind the behaviour of economic players and attempts to provide solutions on how labour brok ing can be correctly administered in South Africa. The Veblenian Dichotomy categorises institutions into t wo sets, namely the ceremonial institutions and instrumental institutions. Where Ceremonial institutions are said to be institutions that foster the interests of business such as profitability and earning of free income, even if there is no corresponding i ncrease in production. While Instrumental institutions, usually working through the influence of technology, address the interests of the common pers on and the labourer as well as business (Waller, 1982; Foster, 1981; Veblen, 1919). These two systems of va lues and institutions are antagonistic and the relative strength of one to the other determines economic outcomes and in whose interests the outcomes would be (Waller, 1982; Foster, 1981; Veblen, 1919). The Veblenian Dichotomy further looks at ceremonial encapsulation which occurs when ceremonial systems prevail over instrumental systems. Ceremonial encapsulation presents the hypothesis that the insti tutional structure will absorb new technology only to the extent that it can do so without disrupting the e xisting value structure (Waller, 1987; Bush, 1979.) The thesis use d various sources , such as working papers, public hearings, court cases, trade union submissions, integrated reports from companies, employee submissions and media publications on the debate about labour broking whether labour broking and applied the Interpretative Phenomenological Analysi s (IPA) research approach, in the process of data collection and analysis . The thesis further applied thematic analysis to derive themes that would be used to analyse the impact of labour broking on labour market functionality in South Africa. The emergent themes and subthemes were Exploitative lab our relations subthemes; job Insecurity, increased financial burden and no skills development. The second theme was; Competitive advantage and the subthemes were; i ncreased profits and organisational efficiency. The third theme was l abour market efficiency and the subthemes were. E mployment creation and labour market flexibility. And, the last theme was a mbiguous l abour regulation s with subthemes; n o freedom of association and a tool for circumventing labour regulations . Lastly, Tool’s (1994) criteria of j udgement for institutional adjustments was used to evaluate the emergent themes and to evaluate the impact of l abour broking on the overall welfare of individuals, which includes determining whether employees in the TES sector gain skills and improved stan dards of living. The findings of the research the TES sector is characterised by ceremonial values. Ceremonial values (as mentioned in section 3.3) are those values that are warranted by the ways of life that prescribe status and hierarchies and unpleasant distinctions to apply value and status on other people (Bush, 1987, 1988; Ayres, 1967). Thus changing the way in which labour brokers conduct themselves or handle labour broking activities would prove to be difficult . T he power that is mostly used in TES employment sectors is condign power. Condign power is explained as the form of power that is predominantly used in ceremonially encapsulated markets. And it involves making use of punishment or fear in order to get people to do something. This is because w orkers in the TES sector are forced to submit to conditions that they would not normally have submitted to if t hey did not have a fear of losing their jobs. This supports existing literature which shows that in the TES sector, TES employers use force and p ower in order to get the workers to do something, and this results in a master - servant relationship between the employer and the employee. Furthermore, the protests that erupt in the TES sector agree with Marxist theory which notes that the frustrations in the way workers are treated would result in a revolution of the working class against the employers. However, now, workers have not been able to overcome the employers and take over the industry. In addition to what current literature says, the research found that some managers make use of labour broking as a way of manifesting their exploitative characteristics on the labour market, thus creating information asymmetries in order to advance their own personal needs. Situations such as these reve al characteristics of opportunistic behaviour, which is perpetuated by the imperfect flow of information. This means th at the market is imperfect, and imperfect markets are characteristics of dysfunctional labour markets. The research also found that it i s the South African Constitution that protects labour brokers and client companies from accounting for the unfair treatm ent of workers. Labour brokers and client companies rely on the South African Constitution to defend them when it comes to banning labou r broking. This is because section 22 of the Constitution talks about the right of every individual to trade freely in S outh Africa (Kutumela, 2015). When institutional adjustments do not meet the requirements of the progressive criteria, it means they are regressive. Based on the data that was collected and the responses and remarks of the workers, trade unions, and trade union federations, it can be said that TES employment and labour broking hinders labour market functionality. Hence, it can be concluded that, due to the characteristics mentioned, labour broking does indeed have a regressive element which hinders labour m arket functionality. An area for further research for TES employment would be to look at the impact of the amendments to the Labour Rela tions Act. Specifically focusing on the Constitutional Court ruling, which forces labour brokers to treat employees who have been employed for longer than three months as permanent employees.
- Full Text:
- Date Issued: 2020
An analysis of carbon tax and other environmental levies: a South African and international perspective
- Authors: Vuzane, Rolihlahla
- Date: 2020
- Subjects: Carbon taxes , Carbon taxes -- South Africa , Environmental impact charges , Environmental impact charges -- South Africa , Taxation -- Environmental aspects , Taxation -- Environmental aspects -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/167676 , vital:41502
- Description: As a “Non-Annex 1” country, there was no obligation for South Africa to reduce its carbon emissions. South Africa undertook, of its own volition, to take measures to reduce 34% of the carbon monoxide emissions by 2020 and 42% by 2025 respectively. In response, South Africa promulgated the Carbon Tax Act, No. 15 of 2019. This study seeks to answer the question: After analysing the range of environmental taxes levied in the Scandinavian countries (Denmark, Finland, Norway and Sweden) and in South Africa, are there lessons that can be learnt for South Africa? In answering this question, the carbon tax structure in South Africa and in selected Scandinavian countries is analysed, together with existing environmental taxes and the related policies, using a literature study. What is evident from the Scandinavian countries studied, is that environmental taxes have distributional effects and are effective in reducing carbon emissions. The major result of the study was that the real weakness of the newly introduced Carbon Tax Act is that in both in the first and second phase of its implementation, the carbon tax rate is too low to send an appropriate signal to the market and would not have the desired outcome. In addition, there are currently no guidelines that inform the revenue recycling technique to ensure transparency of revenue usage, improved energy management, or how the Carbon Tax Act will promote environmental quality. A major concern is that carbon tax revenue will not be ring-fenced. Given that South Africa is a developing country and depends mainly on non-renewable energy, it is inevitable that most of its sectors will be subject to the carbon tax. A plausible approach is the one that promotes the idea of taxing those more heavily that contribute most to environmental degradation and are highly energy concentrated, to promote parity between the harm to the environment and the taxes levied to redress the harm.
- Full Text:
- Date Issued: 2020
- Authors: Vuzane, Rolihlahla
- Date: 2020
- Subjects: Carbon taxes , Carbon taxes -- South Africa , Environmental impact charges , Environmental impact charges -- South Africa , Taxation -- Environmental aspects , Taxation -- Environmental aspects -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/167676 , vital:41502
- Description: As a “Non-Annex 1” country, there was no obligation for South Africa to reduce its carbon emissions. South Africa undertook, of its own volition, to take measures to reduce 34% of the carbon monoxide emissions by 2020 and 42% by 2025 respectively. In response, South Africa promulgated the Carbon Tax Act, No. 15 of 2019. This study seeks to answer the question: After analysing the range of environmental taxes levied in the Scandinavian countries (Denmark, Finland, Norway and Sweden) and in South Africa, are there lessons that can be learnt for South Africa? In answering this question, the carbon tax structure in South Africa and in selected Scandinavian countries is analysed, together with existing environmental taxes and the related policies, using a literature study. What is evident from the Scandinavian countries studied, is that environmental taxes have distributional effects and are effective in reducing carbon emissions. The major result of the study was that the real weakness of the newly introduced Carbon Tax Act is that in both in the first and second phase of its implementation, the carbon tax rate is too low to send an appropriate signal to the market and would not have the desired outcome. In addition, there are currently no guidelines that inform the revenue recycling technique to ensure transparency of revenue usage, improved energy management, or how the Carbon Tax Act will promote environmental quality. A major concern is that carbon tax revenue will not be ring-fenced. Given that South Africa is a developing country and depends mainly on non-renewable energy, it is inevitable that most of its sectors will be subject to the carbon tax. A plausible approach is the one that promotes the idea of taxing those more heavily that contribute most to environmental degradation and are highly energy concentrated, to promote parity between the harm to the environment and the taxes levied to redress the harm.
- Full Text:
- Date Issued: 2020
An historical analysis of the development of a company as a single enterprise and the impact on group company taxation
- Authors: Els, Tania
- Date: 2020
- Subjects: Taxation -- South Africa , Taxation -- History , Taxation -- Law and legislation -- South Africa , Business enterprises -- South Africa , Business enterprises -- Taxation -- Law and legislation -- South Africa , Corporation law -- South Africa , South Africa. Income Tax Act, 1962 , South Africa. Companies Act, 2008 , Separate legal personality , Group taxation
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/154241 , vital:39628
- Description: The company is considered a separate legal entity in both legislation and jurisprudence. The “veil” separating the company and its shareholders is a doctrine entrenched in company law that originated centuries ago. The doctrine is based on conditions that existed during a period that commenced with trading forms less complicated than the corporate groups found today. Trading forms known as guilds could be traced back to 1087, which gradually developed into regulated companies and, in the last century, into the joint-stock company form. The modern era has seen the development of groups of companies carrying on business as economic units. Company law, in regulating business forms, has failed to acknowledge the corporate group as a new business entity. The main purpose of this research was to analyse the origins of the separate legal personality of a company and its relevance for the present corporate group structures. The research aimed to understand company law and jurisprudence in South Africa in relation to the legal personality of a company and a corporate group. The final objective of this reform-orientated doctrinal research thesis was to provide clarity on the need to consider granting separate legal identity to corporate groups in recognition of their economic unity. A historically contextualised analysis was carried out on the development of trading through unregulated forms of businesses to the creation of the company as a regulated entity. The development of the legal persona of a company in legislation as well as jurisprudence was critically analysed in on the context of companies within a corporate group. A case study of a South African corporate group was used to highlight the different characteristics of the companies doing business in the form of a corporate group. The thesis concluded by recommending that legal personality should be extended to include a corporate group in order to facilitate the introduction of a group taxation regime.
- Full Text:
- Date Issued: 2020
- Authors: Els, Tania
- Date: 2020
- Subjects: Taxation -- South Africa , Taxation -- History , Taxation -- Law and legislation -- South Africa , Business enterprises -- South Africa , Business enterprises -- Taxation -- Law and legislation -- South Africa , Corporation law -- South Africa , South Africa. Income Tax Act, 1962 , South Africa. Companies Act, 2008 , Separate legal personality , Group taxation
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/154241 , vital:39628
- Description: The company is considered a separate legal entity in both legislation and jurisprudence. The “veil” separating the company and its shareholders is a doctrine entrenched in company law that originated centuries ago. The doctrine is based on conditions that existed during a period that commenced with trading forms less complicated than the corporate groups found today. Trading forms known as guilds could be traced back to 1087, which gradually developed into regulated companies and, in the last century, into the joint-stock company form. The modern era has seen the development of groups of companies carrying on business as economic units. Company law, in regulating business forms, has failed to acknowledge the corporate group as a new business entity. The main purpose of this research was to analyse the origins of the separate legal personality of a company and its relevance for the present corporate group structures. The research aimed to understand company law and jurisprudence in South Africa in relation to the legal personality of a company and a corporate group. The final objective of this reform-orientated doctrinal research thesis was to provide clarity on the need to consider granting separate legal identity to corporate groups in recognition of their economic unity. A historically contextualised analysis was carried out on the development of trading through unregulated forms of businesses to the creation of the company as a regulated entity. The development of the legal persona of a company in legislation as well as jurisprudence was critically analysed in on the context of companies within a corporate group. A case study of a South African corporate group was used to highlight the different characteristics of the companies doing business in the form of a corporate group. The thesis concluded by recommending that legal personality should be extended to include a corporate group in order to facilitate the introduction of a group taxation regime.
- Full Text:
- Date Issued: 2020
An investigation into the tax consequences for individuals performing work abroad
- Authors: De Ponte, Celeste Lidia
- Date: 2020
- Subjects: South Africa. Income Tax Act, 1962 , Income tax -- Law and legislation -- South Africa , Double taxation -- South Africa , International business enterprises -- Taxation -- Law and legislation -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/141235 , vital:37955
- Description: This thesis considered the income tax implications for South African tax resident individuals who render services abroad. The research included an analysis of the impact that the amendment to the section 10(1)(o)(ii) exemption has on individuals rendering services abroad and companies who send their employees abroad. In doing so, this thesis sought to highlight the key factors for consideration, for both employers and individuals. A doctrinal methodology was applied, and an analysis was carried out of relevant tax legislation, commentary of experts in the field of tax law and the relevant case law of South Africa, the United Kingdom (UK), Australia and the United States of America (US), where relevant. It was established that residency is key to determining the tax liability of a person and has an impact on the relief mechanisms that are available where double taxation arises. In addition, the amendment to section 10(1)(o)(ii) was considered. It was concluded that when rendering services abroad, both the employer and employee need to consider the tax consequences that may arise and highlights the factors which may be relevant. The thesis illustrates that, whilst the R1 million exemption alleviates the double tax consequences to a certain extent, further guidance is needed as to how the R1 million threshold will be calculated.
- Full Text:
- Date Issued: 2020
- Authors: De Ponte, Celeste Lidia
- Date: 2020
- Subjects: South Africa. Income Tax Act, 1962 , Income tax -- Law and legislation -- South Africa , Double taxation -- South Africa , International business enterprises -- Taxation -- Law and legislation -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/141235 , vital:37955
- Description: This thesis considered the income tax implications for South African tax resident individuals who render services abroad. The research included an analysis of the impact that the amendment to the section 10(1)(o)(ii) exemption has on individuals rendering services abroad and companies who send their employees abroad. In doing so, this thesis sought to highlight the key factors for consideration, for both employers and individuals. A doctrinal methodology was applied, and an analysis was carried out of relevant tax legislation, commentary of experts in the field of tax law and the relevant case law of South Africa, the United Kingdom (UK), Australia and the United States of America (US), where relevant. It was established that residency is key to determining the tax liability of a person and has an impact on the relief mechanisms that are available where double taxation arises. In addition, the amendment to section 10(1)(o)(ii) was considered. It was concluded that when rendering services abroad, both the employer and employee need to consider the tax consequences that may arise and highlights the factors which may be relevant. The thesis illustrates that, whilst the R1 million exemption alleviates the double tax consequences to a certain extent, further guidance is needed as to how the R1 million threshold will be calculated.
- Full Text:
- Date Issued: 2020
Analysis of the existence of the Phillips curve, Okun’s law and Taylor rule in the Zambian economy
- Authors: Chella, Siame Nampasa
- Date: 2020
- Subjects: Unemployment -- Effect of inflation -- Mathematical models --Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49783 , vital:41800
- Description: The objective for this study was to explore the relationship between inflation and growth with an understanding of the effects of unemployment on growth. The primary objective of this paper was to investigate the existence of Phillips Curve, Okun’s Law, and Taylor Rule in Zambia on the basis that Zambia is a youthful economy, with a growing population, which is expected to temper with unemployment rates, as an increase in the supply of labour might be too high for the demand for jobs available. To be specific, the study aims at determining the relationship between inflation and growth and seeks to understand what policy measures have been undertaken to curb inflation and reduce unemployment in Zambia. To achieve this, a quantitative research was undertaken using the ARDL cointegration model in conjunction with sensitivity tests to cater for structural changes in the economy with 2007 standing as the break point, as well as paying attention to the fact that different policy regimes employed during the course of the data covered, that being, 1996 to 2017, would affect that rates of unemployment, inflation and growth of the country, across period under review. The study revealed that Zambia faces a Hybrid New Keynesian Phillips Curve during the period under study which is dominated by a mixture of both back-ward and forward-looking aspects of inflation. This specifically, paints the effects of inflation persistence as well future expectations of inflation on growth. Further, a cointegration relationship was established between unemployment and output, while Taylor principles were found not to apply to the Zambian economy, which have proved in other economies to be foundation blocks for good economic growth and as such significant to both fiscal and monetary policy authorities of the economy. The researcher therefore recommends that Zambian policy makers, that is, both the fiscal and the monetary authorities, work together in order to attain minimal and optimal levels of inflation to help achieve a conducive economic environment for the country.
- Full Text:
- Date Issued: 2020
- Authors: Chella, Siame Nampasa
- Date: 2020
- Subjects: Unemployment -- Effect of inflation -- Mathematical models --Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49783 , vital:41800
- Description: The objective for this study was to explore the relationship between inflation and growth with an understanding of the effects of unemployment on growth. The primary objective of this paper was to investigate the existence of Phillips Curve, Okun’s Law, and Taylor Rule in Zambia on the basis that Zambia is a youthful economy, with a growing population, which is expected to temper with unemployment rates, as an increase in the supply of labour might be too high for the demand for jobs available. To be specific, the study aims at determining the relationship between inflation and growth and seeks to understand what policy measures have been undertaken to curb inflation and reduce unemployment in Zambia. To achieve this, a quantitative research was undertaken using the ARDL cointegration model in conjunction with sensitivity tests to cater for structural changes in the economy with 2007 standing as the break point, as well as paying attention to the fact that different policy regimes employed during the course of the data covered, that being, 1996 to 2017, would affect that rates of unemployment, inflation and growth of the country, across period under review. The study revealed that Zambia faces a Hybrid New Keynesian Phillips Curve during the period under study which is dominated by a mixture of both back-ward and forward-looking aspects of inflation. This specifically, paints the effects of inflation persistence as well future expectations of inflation on growth. Further, a cointegration relationship was established between unemployment and output, while Taylor principles were found not to apply to the Zambian economy, which have proved in other economies to be foundation blocks for good economic growth and as such significant to both fiscal and monetary policy authorities of the economy. The researcher therefore recommends that Zambian policy makers, that is, both the fiscal and the monetary authorities, work together in order to attain minimal and optimal levels of inflation to help achieve a conducive economic environment for the country.
- Full Text:
- Date Issued: 2020
Analysis of the relationship between changes in macroeconomic variables and various sector price indices of JSE
- Mapanda, Tungamirai Chisvuvo
- Authors: Mapanda, Tungamirai Chisvuvo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stock price indexes -- South Africa , Interest rates -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/147445 , vital:38637
- Description: Purpose- The purpose of this paper is to analyse the relationship between changes in domestic macroeconomic variables and various indices of the JSE during the full time period, June 1995 to December 2018 and the sub-periods, June 1995 to June 2007 and July 2007 to December 2018. Design/ methodology/ approach- The paper employs the Autoregressive Distributed Lag (ARDL) model approach to cointegration using monthly data from June 1995 to December 2018. Findings- In terms of the long run, the results show that the coincident indicator measure of domestic economic activity is positively and significantly related to the various JSE indices for all study periods. In terms of inflation, the results show no relationship between inflation rate and the various indices for both whole period and June 1995 to June 2007 sub period. However for the July 2007 to December 2018 sub period, JSE All Share Index and JSE Top 40 Index are negatively related. For the real effective exchange rate, only the Consumer Services Index is positively related to the exchange rate in terms of June 1995 to June 2007 sub period. However, JSE All Share Index and JSE Top 40 Index are negatively related to the exchange rate in all study periods. In terms of the short term interest rate, for the whole period, JSE All Share Index, JSE Top 40 Index, Health Care Index and Telecommunications Index are negatively related to interest rate. In terms of the June 1995 to June 2007 sub period, JSE All Share Index and Industrials Index are negatively related to the short term interest rate. For the July 2007 to December 2018 sub period, Telecommunications Index and Technology Index are negatively related. In terms of the short run, the coincident indicator is positively and significantly related to the various JSE indices for all study periods. Inflation is not significantly related to any index in the whole period. In terms of the June 1995 to June 2007 sub period, Industrials Index and Financials Index are positively related to inflation and in the July 2007 to December 2018 sub period, Consumer Goods Index, Health Index and Consumer Services Index are negatively related to the inflation rate. The real effective exchange rate is positively and significantly related to the various JSE indices in the different study periods. In terms of the short term interest rate, for the whole period and the June 1995 to June 2007 sub period only the Technology Index is not significantly and negatively related to the short term interest rate, but for the July 2007 to December 2018 sub period, Top 40 Index, Telecommunications Index and Technology Index are positively related to the interest rate. Only the Financial Index is negatively related to short term interest rates during this sub period. Research Limitations- Not a lot literature was found on the relationship between macroeconomic variables and the various sector indices of the JSE. Most previous work, in the South African context focused just on the JSE All Share Index. Practical Implications- The findings can help investors diversify their portfolios into indices that benefit from expected changes in macroeconomic variables, such as recessions, rising interest rates, rising inflation or a weakening exchange rate. Alternatively, they can hedge themselves against the negative implications of such macroeconomic changes on portfolio performance. In addition, the findings are important for the monetary authorities to better understand the implications of their policy changes on financial markets.
- Full Text:
- Date Issued: 2020
- Authors: Mapanda, Tungamirai Chisvuvo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stock price indexes -- South Africa , Interest rates -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/147445 , vital:38637
- Description: Purpose- The purpose of this paper is to analyse the relationship between changes in domestic macroeconomic variables and various indices of the JSE during the full time period, June 1995 to December 2018 and the sub-periods, June 1995 to June 2007 and July 2007 to December 2018. Design/ methodology/ approach- The paper employs the Autoregressive Distributed Lag (ARDL) model approach to cointegration using monthly data from June 1995 to December 2018. Findings- In terms of the long run, the results show that the coincident indicator measure of domestic economic activity is positively and significantly related to the various JSE indices for all study periods. In terms of inflation, the results show no relationship between inflation rate and the various indices for both whole period and June 1995 to June 2007 sub period. However for the July 2007 to December 2018 sub period, JSE All Share Index and JSE Top 40 Index are negatively related. For the real effective exchange rate, only the Consumer Services Index is positively related to the exchange rate in terms of June 1995 to June 2007 sub period. However, JSE All Share Index and JSE Top 40 Index are negatively related to the exchange rate in all study periods. In terms of the short term interest rate, for the whole period, JSE All Share Index, JSE Top 40 Index, Health Care Index and Telecommunications Index are negatively related to interest rate. In terms of the June 1995 to June 2007 sub period, JSE All Share Index and Industrials Index are negatively related to the short term interest rate. For the July 2007 to December 2018 sub period, Telecommunications Index and Technology Index are negatively related. In terms of the short run, the coincident indicator is positively and significantly related to the various JSE indices for all study periods. Inflation is not significantly related to any index in the whole period. In terms of the June 1995 to June 2007 sub period, Industrials Index and Financials Index are positively related to inflation and in the July 2007 to December 2018 sub period, Consumer Goods Index, Health Index and Consumer Services Index are negatively related to the inflation rate. The real effective exchange rate is positively and significantly related to the various JSE indices in the different study periods. In terms of the short term interest rate, for the whole period and the June 1995 to June 2007 sub period only the Technology Index is not significantly and negatively related to the short term interest rate, but for the July 2007 to December 2018 sub period, Top 40 Index, Telecommunications Index and Technology Index are positively related to the interest rate. Only the Financial Index is negatively related to short term interest rates during this sub period. Research Limitations- Not a lot literature was found on the relationship between macroeconomic variables and the various sector indices of the JSE. Most previous work, in the South African context focused just on the JSE All Share Index. Practical Implications- The findings can help investors diversify their portfolios into indices that benefit from expected changes in macroeconomic variables, such as recessions, rising interest rates, rising inflation or a weakening exchange rate. Alternatively, they can hedge themselves against the negative implications of such macroeconomic changes on portfolio performance. In addition, the findings are important for the monetary authorities to better understand the implications of their policy changes on financial markets.
- Full Text:
- Date Issued: 2020
Convergence effects of African GDP with the rest of the world: Analysis the African continental free trade agreement
- Matonana, Phumelela Ntombiyesibini
- Authors: Matonana, Phumelela Ntombiyesibini
- Date: 2020
- Subjects: Gross domestic product -- Africa -- Statistics , Economic development -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50306 , vital:42102
- Description: This study is an investigation of the convergence hypothesis in African countries motivated by the increasing interest to measure disparities in the establishment of an economic union. The objective of this study is to provide an analysis of convergence in Africa by looking at the African Continental Free Trade Agreement (AfCFTA) against 6 of its top trading partner groups. This study seeks to establish whether Africa and African countries who belong to the AfCFTA catchup to the growth rates of their more developed trading partners. The data sample spans from 1971- 2018. The method of analysis employed in this study is a unit root testing procedure using the linear ADF and nonlinear KSS unit root tests, the HEGY and Canova and Hansen seasonal unit root tests, the Lee and Strazicich structural break test, and the Flexible Fourier Function (FFF) and Fractional Frequency Flexible Fourier Function (FFFFF) unit root tests to account for smooth structural breaks. This study is, as we have reviewed, the first to investigate convergence in the newly established economic union and the first employ the above-mentioned series of unit root tests. The empirical outcomes in this study point towards weak evidence of convergence between Africa and international trade groups when considering the more robust Fourier-based unit root tests. Therefore, we conclude that Africa does not necessarily exhibit catch up effects with a majority of its trading partners.
- Full Text:
- Date Issued: 2020
- Authors: Matonana, Phumelela Ntombiyesibini
- Date: 2020
- Subjects: Gross domestic product -- Africa -- Statistics , Economic development -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50306 , vital:42102
- Description: This study is an investigation of the convergence hypothesis in African countries motivated by the increasing interest to measure disparities in the establishment of an economic union. The objective of this study is to provide an analysis of convergence in Africa by looking at the African Continental Free Trade Agreement (AfCFTA) against 6 of its top trading partner groups. This study seeks to establish whether Africa and African countries who belong to the AfCFTA catchup to the growth rates of their more developed trading partners. The data sample spans from 1971- 2018. The method of analysis employed in this study is a unit root testing procedure using the linear ADF and nonlinear KSS unit root tests, the HEGY and Canova and Hansen seasonal unit root tests, the Lee and Strazicich structural break test, and the Flexible Fourier Function (FFF) and Fractional Frequency Flexible Fourier Function (FFFFF) unit root tests to account for smooth structural breaks. This study is, as we have reviewed, the first to investigate convergence in the newly established economic union and the first employ the above-mentioned series of unit root tests. The empirical outcomes in this study point towards weak evidence of convergence between Africa and international trade groups when considering the more robust Fourier-based unit root tests. Therefore, we conclude that Africa does not necessarily exhibit catch up effects with a majority of its trading partners.
- Full Text:
- Date Issued: 2020
Cryptocurrencies in the future of money and monetary policy
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
Economic convergence among the SADC members
- Authors: Mbangezeli, Sinawo
- Date: 2020
- Subjects: Convergence (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48927 , vital:41171
- Description: This study utilized beta convergence to investigate the catch-up process among the Southern African Development Community (SADC) for the period 1971 to 2017. The theoretical underpinning of this study was that of neoclassical economists, such as Solow (1956) and Barro and Sala-I-Martin (1990, 1991). Gross Domestic Product (GDP) growth rates and per capita growth rates were used to test for the convergence hypothesis. This study employed conventional unit root test which include the Augmented Dickey-Fuller (ADF) test, Phillips Perron (PP) test and the Kwiatkowski Phillips Schmidt Shin (KPSS) test. As well the Dickey Fuller-GLS and NG-Perron modified unit root tests. In addition, the Lee-Strazicich (LS) and Zivot- Andrew (ZA) unit root tests were used to allow for structural breaks. The conventional and modified unit root tests showed that most countries show evidence of GDP growth convergence, the exception being on the KPSS unit root test. Furthermore, most countries showed evidence of convergence when classified according to income levels. Meanwhile, when the structural breaks unit root tests when performed there was a strong evidence of both GDP growth and GDP per capita growth rates. Except in a few cases of the Lee-Strazicich tests. Lastly, the Flexible Fourier Form (FFF) unit root test was performed following the Enders and Lee (2012) methodology. The t-statistics under the FFF test reveal that all members besides Congo and Zimbabwe converge towards the SADC average growth rates. Similarly, all lower-middle economies catch up to the upper-middle- and high-income level economies and upper-middle economies converge to Seychelles’ GDP growth rates. Whereas only Congo and Tanzania among the lower income economies converge toward the average GDP growth rates of the other countries. In addition, all members show evidence of per capita GDP convergence except when the test is performed in panel A. Based on the reported results, the paper recommends that measures should be put in place to aid non-converging member states, adoption of growth promoting policies and that there should be harsh consequences for countries that do not improve their growth rates.
- Full Text:
- Date Issued: 2020
- Authors: Mbangezeli, Sinawo
- Date: 2020
- Subjects: Convergence (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48927 , vital:41171
- Description: This study utilized beta convergence to investigate the catch-up process among the Southern African Development Community (SADC) for the period 1971 to 2017. The theoretical underpinning of this study was that of neoclassical economists, such as Solow (1956) and Barro and Sala-I-Martin (1990, 1991). Gross Domestic Product (GDP) growth rates and per capita growth rates were used to test for the convergence hypothesis. This study employed conventional unit root test which include the Augmented Dickey-Fuller (ADF) test, Phillips Perron (PP) test and the Kwiatkowski Phillips Schmidt Shin (KPSS) test. As well the Dickey Fuller-GLS and NG-Perron modified unit root tests. In addition, the Lee-Strazicich (LS) and Zivot- Andrew (ZA) unit root tests were used to allow for structural breaks. The conventional and modified unit root tests showed that most countries show evidence of GDP growth convergence, the exception being on the KPSS unit root test. Furthermore, most countries showed evidence of convergence when classified according to income levels. Meanwhile, when the structural breaks unit root tests when performed there was a strong evidence of both GDP growth and GDP per capita growth rates. Except in a few cases of the Lee-Strazicich tests. Lastly, the Flexible Fourier Form (FFF) unit root test was performed following the Enders and Lee (2012) methodology. The t-statistics under the FFF test reveal that all members besides Congo and Zimbabwe converge towards the SADC average growth rates. Similarly, all lower-middle economies catch up to the upper-middle- and high-income level economies and upper-middle economies converge to Seychelles’ GDP growth rates. Whereas only Congo and Tanzania among the lower income economies converge toward the average GDP growth rates of the other countries. In addition, all members show evidence of per capita GDP convergence except when the test is performed in panel A. Based on the reported results, the paper recommends that measures should be put in place to aid non-converging member states, adoption of growth promoting policies and that there should be harsh consequences for countries that do not improve their growth rates.
- Full Text:
- Date Issued: 2020
Economic evaluation of chemical and biological control methods on four aquatic weeds in South Africa
- Authors: Maluleke, Mary
- Date: 2020
- Subjects: Invasive plants -- Biological control -- Economic aspects -- South Africa , Introduced organisms -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Control -- Economic aspects -- South Africa , Aquatic resources -- Management , Cost effectiveness , Net present value , Herbicides -- Cost effectiveness , Working for Water Programme , Water conservation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/145953 , vital:38481
- Description: Invasive alien plants (IAPs) of various kinds pose a threat to ecosystems, biodiversity, conservation and overall economy. In a world experiencing exponential increase in IAPs – this issue has become endemic, especially for developing countries such as South Africa. South Africa is a water scarce country and IAPs increase water stress. Thus, South Africa must invest in a more realistic, environmentally and economically inclusive policy outlook on the management of IAPs including aquatic weeds. This is especially urgent when considering the changing global climate, which is predicted to further reduce the quantity and quality of potable water. The Working for Water Programme (WfW) in South Africa aimed at addressing the issue of IAPs in a way that protects the environment as well as produces maximum return to society through poverty alleviation. As such, the aquatic weeds management strategy put in place for four of South Africa’s aquatic weeds Pista stratiotes, Salvinia molesta, Azolla filiculoides and Myriophyllum aquaticum - should be one that is cost-effective, efficient and sustainable; yielding the best possible return on investment. Since these four weeds are already under complete biological control, in the absence of biological agents, the WfW programme would have used herbicides to control these weeds. As such, this thesis conducted a retrospective analysis of the relative herbicide cost-saving associated with the use of biological control. To do this, due to existing limitations, E. crassipes was used as a surrogate weed and its herbicide control costs were used as proxy for the herbicide control cost estimates of the four selected weeds; with reasonable conversion factors applied to cater for the biological difference of the five weeds. Using the cost benefit analysis (CBA) framework, the net present cost (NPC) of each control method was calculated to which the relative cost-saving was considered to represent the avoided cost of using biological control instead of chemical control on these weeds. The avoided cost was used as the main benefit component when deriving the relative benefit cost ratios (BCR). Two scenarios were used, one assuming no follow-up requirement and the other assuming one follow-up requirement for chemical control. Using an 8% discount rate, the study found that the estimated cost of the biological control method on all four aquatic weeds was about R7,843,205 while for chemical control the estimated costs would have costed R149,580,142, R268,264,838 and R881,711,738 for application by means of a boat, bakkie and knapsack. Chemical control cost estimates would have increased to about R164,538,052, R295,216,120 and R1,008,761,000 for boat, bakkie and knapsack approach respectively when including a possible follow-up programme. These would have led to positive BCRs of 90.24:1, 164.97:1 and 557.99:1 across the three chemical control approaches without a follow-up (with BCR of about 99.67:1, 182.00:1 and 631.56:1 for the boat, bakkie and knapsack approach respectively with the accepted follow-up programme). When running a sensitivity test with varying discount rates of 5% and 10%, these results remained robust. As such, failing to reject the dominant hypothesis in literature, the main conclusion of the study is that biological control is indeed the more cost-effective management option compared to chemical control with respect to herbicide cost-saving. Further, biological control is most-likely to produce more environmental cost-saving and water-saving over chemical control. The study recommends the continued use of the biological control investment on the four aquatic weeds under study as well as on emerging aquatic weeds such as Iris pseudacorus, Nymphaea mexicana and Sagittaria platyphylla in South Africa.
- Full Text:
- Date Issued: 2020
Economic evaluation of chemical and biological control methods on four aquatic weeds in South Africa
- Authors: Maluleke, Mary
- Date: 2020
- Subjects: Invasive plants -- Biological control -- Economic aspects -- South Africa , Introduced organisms -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Biological control -- Economic aspects -- South Africa , Aquatic weeds -- Control -- Economic aspects -- South Africa , Aquatic resources -- Management , Cost effectiveness , Net present value , Herbicides -- Cost effectiveness , Working for Water Programme , Water conservation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/145953 , vital:38481
- Description: Invasive alien plants (IAPs) of various kinds pose a threat to ecosystems, biodiversity, conservation and overall economy. In a world experiencing exponential increase in IAPs – this issue has become endemic, especially for developing countries such as South Africa. South Africa is a water scarce country and IAPs increase water stress. Thus, South Africa must invest in a more realistic, environmentally and economically inclusive policy outlook on the management of IAPs including aquatic weeds. This is especially urgent when considering the changing global climate, which is predicted to further reduce the quantity and quality of potable water. The Working for Water Programme (WfW) in South Africa aimed at addressing the issue of IAPs in a way that protects the environment as well as produces maximum return to society through poverty alleviation. As such, the aquatic weeds management strategy put in place for four of South Africa’s aquatic weeds Pista stratiotes, Salvinia molesta, Azolla filiculoides and Myriophyllum aquaticum - should be one that is cost-effective, efficient and sustainable; yielding the best possible return on investment. Since these four weeds are already under complete biological control, in the absence of biological agents, the WfW programme would have used herbicides to control these weeds. As such, this thesis conducted a retrospective analysis of the relative herbicide cost-saving associated with the use of biological control. To do this, due to existing limitations, E. crassipes was used as a surrogate weed and its herbicide control costs were used as proxy for the herbicide control cost estimates of the four selected weeds; with reasonable conversion factors applied to cater for the biological difference of the five weeds. Using the cost benefit analysis (CBA) framework, the net present cost (NPC) of each control method was calculated to which the relative cost-saving was considered to represent the avoided cost of using biological control instead of chemical control on these weeds. The avoided cost was used as the main benefit component when deriving the relative benefit cost ratios (BCR). Two scenarios were used, one assuming no follow-up requirement and the other assuming one follow-up requirement for chemical control. Using an 8% discount rate, the study found that the estimated cost of the biological control method on all four aquatic weeds was about R7,843,205 while for chemical control the estimated costs would have costed R149,580,142, R268,264,838 and R881,711,738 for application by means of a boat, bakkie and knapsack. Chemical control cost estimates would have increased to about R164,538,052, R295,216,120 and R1,008,761,000 for boat, bakkie and knapsack approach respectively when including a possible follow-up programme. These would have led to positive BCRs of 90.24:1, 164.97:1 and 557.99:1 across the three chemical control approaches without a follow-up (with BCR of about 99.67:1, 182.00:1 and 631.56:1 for the boat, bakkie and knapsack approach respectively with the accepted follow-up programme). When running a sensitivity test with varying discount rates of 5% and 10%, these results remained robust. As such, failing to reject the dominant hypothesis in literature, the main conclusion of the study is that biological control is indeed the more cost-effective management option compared to chemical control with respect to herbicide cost-saving. Further, biological control is most-likely to produce more environmental cost-saving and water-saving over chemical control. The study recommends the continued use of the biological control investment on the four aquatic weeds under study as well as on emerging aquatic weeds such as Iris pseudacorus, Nymphaea mexicana and Sagittaria platyphylla in South Africa.
- Full Text:
- Date Issued: 2020
Effects of economic growth on greenhouse emissions
- Mkunyana, Asebenzile Priscilla
- Authors: Mkunyana, Asebenzile Priscilla
- Date: 2020
- Subjects: Greenhouse gases -- Environmental aspects -- Africa , Climate change mitigation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50404 , vital:42162
- Description: This study employs the panel cointegration and Pooled Mean Group technique to examine the effects of economic growth on greenhouse emissions using the panel data from the period of 1970 to 2014 for five Southern African Development Community group of countries. The increase in the combustion of burning fossil fuels has become the global threat in environmental quality. The Environmental Kuznets Curve hypothesis postulates that at the primary stages of industrial economies there is more extracting of natural resources and more agricultural activities taking place as a result the waste generation and resource depletion accelerate. However, as the economic development improves more, the curve reaches a threshold where it starts to decline due to the increase in economic growth and the change to information-based industries. Based on the empirical evidence, the variables of this study were found to be stationary at first difference and integrated of I(0) and I(1) using Im, Pesaran & Shin W-stat, Fisher ADF, and Levin, Lin & Chu panel unit root test. The existing long-run relationship between the variables were found in both the Pedroni and Kao cointegration test and were significant at 5% in finding the relationship between the variables. The Pooled Mean Group demonstrated mixed results in the study’s regressions, monotonic relationship was found between carbon dioxide and economic growth. The strong existence relationship between economic growth and energy consumption was found to be significant at the 1% level. These results are in line with the EKC hypothesis, which assumes that as the income level increases the society will start to be environmentally friendly and the technology advancement will decrease the emission of pollutants. In addition, in finding the causal relationship between variables, the researcher used the Granger causality test, with the results from this test revealing a unidirectional and bidirectional relationship between all the chosen variables. These results are important for policy makers.
- Full Text:
- Date Issued: 2020
- Authors: Mkunyana, Asebenzile Priscilla
- Date: 2020
- Subjects: Greenhouse gases -- Environmental aspects -- Africa , Climate change mitigation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50404 , vital:42162
- Description: This study employs the panel cointegration and Pooled Mean Group technique to examine the effects of economic growth on greenhouse emissions using the panel data from the period of 1970 to 2014 for five Southern African Development Community group of countries. The increase in the combustion of burning fossil fuels has become the global threat in environmental quality. The Environmental Kuznets Curve hypothesis postulates that at the primary stages of industrial economies there is more extracting of natural resources and more agricultural activities taking place as a result the waste generation and resource depletion accelerate. However, as the economic development improves more, the curve reaches a threshold where it starts to decline due to the increase in economic growth and the change to information-based industries. Based on the empirical evidence, the variables of this study were found to be stationary at first difference and integrated of I(0) and I(1) using Im, Pesaran & Shin W-stat, Fisher ADF, and Levin, Lin & Chu panel unit root test. The existing long-run relationship between the variables were found in both the Pedroni and Kao cointegration test and were significant at 5% in finding the relationship between the variables. The Pooled Mean Group demonstrated mixed results in the study’s regressions, monotonic relationship was found between carbon dioxide and economic growth. The strong existence relationship between economic growth and energy consumption was found to be significant at the 1% level. These results are in line with the EKC hypothesis, which assumes that as the income level increases the society will start to be environmentally friendly and the technology advancement will decrease the emission of pollutants. In addition, in finding the causal relationship between variables, the researcher used the Granger causality test, with the results from this test revealing a unidirectional and bidirectional relationship between all the chosen variables. These results are important for policy makers.
- Full Text:
- Date Issued: 2020
Efficient market hypothesis : testing weak-form efficiency on the Johannesburg stock exchange
- Authors: Eaton, Bradley Hayes
- Date: 2020
- Subjects: Efficient market theory
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47895 , vital:40396
- Description: Understanding financial markets is paramount in acknowledging the flow of domestic and foreign funds over time. In this study, net market capitalisation price and simple return characteristics were investigated for the period from January 2009 to December 2017. An empirical, statistical approach was used to explore the possibility that, since the 2008 financial crisis, forward-looking, aggregate market and financial-oriented equity indices have conformed to the Efficient Market Hypothesis. Accordingly, monthly observations were made to ensure long-run traits were identified and scrutinised. Such revelations are important for portfolio diversification, risk, and expected return potentials with respect to South African equity markets. Based on the study, it was found that random walks were evident in both the price and return time-series as a result of significant stochastic price action, supported by evidence suggesting non-normality of price and return distributions. Unit root and stationarity modelling confirmed such traits. However, significant trending behaviours were evident in the auto-correlation figures with regards to prices, despite mean-reverting and stochastic influences. Therefore, it was concluded from the results of the study that the respective time-series were weak-form efficient. The empirical component was supplemented by a comprehensive investigation into the market determinants of financial market inefficiencies, including partial correlations, contagion effects, momentum, financial bubbles, and liquidity issues. Secondary objectives of the study included identifying the roles of security exchanges and the effect of international linkages, as a result of globalisation, on the financial markets. Increased macro-economic and systems integration has led to positive and negative connotations for business cycles. Spill-over effects into global equity markets are evident as can be seen through the co-integration of leading world exchanges, both in the developed and emerging market spheres. Fundamental to this study was the sensitivity of South African equity markets to recessionary pressures, as analysed through the efficiency of aggregated equity indices.
- Full Text:
- Date Issued: 2020
- Authors: Eaton, Bradley Hayes
- Date: 2020
- Subjects: Efficient market theory
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47895 , vital:40396
- Description: Understanding financial markets is paramount in acknowledging the flow of domestic and foreign funds over time. In this study, net market capitalisation price and simple return characteristics were investigated for the period from January 2009 to December 2017. An empirical, statistical approach was used to explore the possibility that, since the 2008 financial crisis, forward-looking, aggregate market and financial-oriented equity indices have conformed to the Efficient Market Hypothesis. Accordingly, monthly observations were made to ensure long-run traits were identified and scrutinised. Such revelations are important for portfolio diversification, risk, and expected return potentials with respect to South African equity markets. Based on the study, it was found that random walks were evident in both the price and return time-series as a result of significant stochastic price action, supported by evidence suggesting non-normality of price and return distributions. Unit root and stationarity modelling confirmed such traits. However, significant trending behaviours were evident in the auto-correlation figures with regards to prices, despite mean-reverting and stochastic influences. Therefore, it was concluded from the results of the study that the respective time-series were weak-form efficient. The empirical component was supplemented by a comprehensive investigation into the market determinants of financial market inefficiencies, including partial correlations, contagion effects, momentum, financial bubbles, and liquidity issues. Secondary objectives of the study included identifying the roles of security exchanges and the effect of international linkages, as a result of globalisation, on the financial markets. Increased macro-economic and systems integration has led to positive and negative connotations for business cycles. Spill-over effects into global equity markets are evident as can be seen through the co-integration of leading world exchanges, both in the developed and emerging market spheres. Fundamental to this study was the sensitivity of South African equity markets to recessionary pressures, as analysed through the efficiency of aggregated equity indices.
- Full Text:
- Date Issued: 2020
Exploring the Employee-Supervisor relationship in the Credit Recovery Department of a Financial institution
- Authors: Ndamse, Asanda Vuyo
- Date: 2020
- Subjects: Financial institutions -- South Africa -- Leadership Collection agencies -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49975 , vital:41966
- Description: This study aimed to investigate and understand employee-supervisor relationship working in the credit recovery department of a large South African financial institution. The focus of the investigation, through qualitative research, was on numerous issues relating to their experiences working within a financial institution. The Credit Recovery Department which had nine separate divisions were particularly concerned about three main areas from survey results that they conduct yearly. The respondents to the survey were the call centre agents and team leaders. The employees surveyed felt that there was insufficient recognition for their contribution, the supervisor did not facilitate productive team engagements, and there was a lack of provision of formal and self-directed learning opportunities. These aspects were viewed as highly critical aspects of the employee-supervisor relationship and important to achieving set departmental objectives. Due to a lack of understanding of the cause of the perceptions captured by the survey, the main purpose of the study was to explore the employees’ attitudes, feelings, beliefs, experiences, reactions and concerns about the way their contributions were recognised, team engagements were facilitated, and the lack of formal and self-directed learning opportunities. From the ten questions that were asked, the three lowest scored questions were then put to the focus groups. The questions were tailored as open-ended, conversational questions with a specific focus on the three concerning areas. The first major theme that emerged from all focus groups is leadership and the style of leadership. Secondly, growth and development were a concern again for both call centre agents and team leaders, and issues were raised throughout the sessions, not only in response to the question on selfdirected learning. Further major themes that emerged were rewards and benefits, and lastly workload and systems. The findings from this study are anticipated to have important policy implications while meeting set standards for the employee-supervisor relationship status.
- Full Text:
- Date Issued: 2020
- Authors: Ndamse, Asanda Vuyo
- Date: 2020
- Subjects: Financial institutions -- South Africa -- Leadership Collection agencies -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49975 , vital:41966
- Description: This study aimed to investigate and understand employee-supervisor relationship working in the credit recovery department of a large South African financial institution. The focus of the investigation, through qualitative research, was on numerous issues relating to their experiences working within a financial institution. The Credit Recovery Department which had nine separate divisions were particularly concerned about three main areas from survey results that they conduct yearly. The respondents to the survey were the call centre agents and team leaders. The employees surveyed felt that there was insufficient recognition for their contribution, the supervisor did not facilitate productive team engagements, and there was a lack of provision of formal and self-directed learning opportunities. These aspects were viewed as highly critical aspects of the employee-supervisor relationship and important to achieving set departmental objectives. Due to a lack of understanding of the cause of the perceptions captured by the survey, the main purpose of the study was to explore the employees’ attitudes, feelings, beliefs, experiences, reactions and concerns about the way their contributions were recognised, team engagements were facilitated, and the lack of formal and self-directed learning opportunities. From the ten questions that were asked, the three lowest scored questions were then put to the focus groups. The questions were tailored as open-ended, conversational questions with a specific focus on the three concerning areas. The first major theme that emerged from all focus groups is leadership and the style of leadership. Secondly, growth and development were a concern again for both call centre agents and team leaders, and issues were raised throughout the sessions, not only in response to the question on selfdirected learning. Further major themes that emerged were rewards and benefits, and lastly workload and systems. The findings from this study are anticipated to have important policy implications while meeting set standards for the employee-supervisor relationship status.
- Full Text:
- Date Issued: 2020
Factors influencing organisational commitment amongst generation Z in South Africa
- Authors: Masia, Thapelo
- Date: 2020
- Subjects: Staff Retention -- South Africa , Young adults -- Employment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50294 , vital:42093
- Description: In a world of constant change, organisations face demanding pressures and challenges. Now, more than ever, organisations need to optimise resources in maximising outcomes in order to maintain a competitive advantage. In doing so, it must be acknowledged that people remain the most valuable resource in achieving organisational success. This has led to a war for talent across and between organisations. In South Africa this situation is complicated for many reasons, including the fact that there is a skills shortage crisis faced in South Africa and because many experienced Baby Boomers are now reaching retirement age. This time is also marked by the entry of the newest member of the workforce, this being Generation Z. These considerations make it important for organisations to create relevant strategies to build and retain the organisational commitment of top talent, more specifically that of Generation Z. Organisational commitment is a key organisational consideration in driving employee behaviour and attitude through influencing performance, satisfaction, organisational citizenship and motivation. The aim of this study was to explore the factors influencing organisational commitment amongst Generation Z employees in the South African workplace. This is important in assisting organisations in developing and enhancing attraction and retention strategies for current and future talent.
- Full Text:
- Date Issued: 2020
- Authors: Masia, Thapelo
- Date: 2020
- Subjects: Staff Retention -- South Africa , Young adults -- Employment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/50294 , vital:42093
- Description: In a world of constant change, organisations face demanding pressures and challenges. Now, more than ever, organisations need to optimise resources in maximising outcomes in order to maintain a competitive advantage. In doing so, it must be acknowledged that people remain the most valuable resource in achieving organisational success. This has led to a war for talent across and between organisations. In South Africa this situation is complicated for many reasons, including the fact that there is a skills shortage crisis faced in South Africa and because many experienced Baby Boomers are now reaching retirement age. This time is also marked by the entry of the newest member of the workforce, this being Generation Z. These considerations make it important for organisations to create relevant strategies to build and retain the organisational commitment of top talent, more specifically that of Generation Z. Organisational commitment is a key organisational consideration in driving employee behaviour and attitude through influencing performance, satisfaction, organisational citizenship and motivation. The aim of this study was to explore the factors influencing organisational commitment amongst Generation Z employees in the South African workplace. This is important in assisting organisations in developing and enhancing attraction and retention strategies for current and future talent.
- Full Text:
- Date Issued: 2020
Financial inclusion and food security nexus: Evidence from Southern African Development Community (SADC)
- Authors: Machili, Tharollo
- Date: 2020
- Subjects: Economic growth, development, planning , Finance -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49886 , vital:41813
- Description: Everywhere on the African continent, governments are starting to realize the crucial role of financial inclusion in mitigating poverty and contributing to sustainable and inclusive economic development and stability. Emerging evidence indicates that financial sector deepening is essential for facilitating economic development. The 2016 SADC financial inclusion strategy asserts that inclusive economic growth has a positive impact on the needy through minimizing income inequality and increasing employment Finmark Trust (2016). Recent developments in financial services for the low-income segment, specifically, reveals how financial inclusion can strengthen the dependence of a vulnerable and excluded population (Demirgüç-Kunt, Klapper, Singer, Ansar and Hess, 2017). As such, many countries within the continent now have national financial inclusion strategies and lead core initiatives to enhance financial markets. A number of researcher’s stress that financial inclusion, especially the use of digital financial services and mobile money services, can have developmental benefits Although studies fail to concur on the direction of the effect that financial inclusion has on economic development. It is worth noting that, even studies that do not find any evidence of the relationship between financial inclusion and economic development to support this hypothesis, also emphasize the prospect of attaining better outcomes through careful consideration of local needs
- Full Text:
- Date Issued: 2020
- Authors: Machili, Tharollo
- Date: 2020
- Subjects: Economic growth, development, planning , Finance -- Developing countries
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/49886 , vital:41813
- Description: Everywhere on the African continent, governments are starting to realize the crucial role of financial inclusion in mitigating poverty and contributing to sustainable and inclusive economic development and stability. Emerging evidence indicates that financial sector deepening is essential for facilitating economic development. The 2016 SADC financial inclusion strategy asserts that inclusive economic growth has a positive impact on the needy through minimizing income inequality and increasing employment Finmark Trust (2016). Recent developments in financial services for the low-income segment, specifically, reveals how financial inclusion can strengthen the dependence of a vulnerable and excluded population (Demirgüç-Kunt, Klapper, Singer, Ansar and Hess, 2017). As such, many countries within the continent now have national financial inclusion strategies and lead core initiatives to enhance financial markets. A number of researcher’s stress that financial inclusion, especially the use of digital financial services and mobile money services, can have developmental benefits Although studies fail to concur on the direction of the effect that financial inclusion has on economic development. It is worth noting that, even studies that do not find any evidence of the relationship between financial inclusion and economic development to support this hypothesis, also emphasize the prospect of attaining better outcomes through careful consideration of local needs
- Full Text:
- Date Issued: 2020
Government size, labour productivity and economic growth in South Africa
- Authors: Mbaleki, Chuma Innocent
- Date: 2020
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48915 , vital:41170
- Description: This study investigates short-run and long-run effects of fiscal consolidation on labour productivity in South Africa using the autoregressive distributed lag bounds testing approach of cointegration. We use quarterly data collected in the period of 1994Q3 to 2017Q1. We disaggregate government expenditure as well as revenue and find a positive and significant long run relationship between revenue variables and labour productivity. This relationship is also positive and significant in the short run except for net tax variable, which seems to be growth contractive. The results further suggest a positive and significant long run relationship between government expenditure on health, public safety and order, culture and recreation as well as education and labour productivity. Government expenditure on education and health variables are also positive and significant in the short run, whilst expenditure on defense is negative and not significant both in the short run and long run.
- Full Text:
- Date Issued: 2020
- Authors: Mbaleki, Chuma Innocent
- Date: 2020
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/48915 , vital:41170
- Description: This study investigates short-run and long-run effects of fiscal consolidation on labour productivity in South Africa using the autoregressive distributed lag bounds testing approach of cointegration. We use quarterly data collected in the period of 1994Q3 to 2017Q1. We disaggregate government expenditure as well as revenue and find a positive and significant long run relationship between revenue variables and labour productivity. This relationship is also positive and significant in the short run except for net tax variable, which seems to be growth contractive. The results further suggest a positive and significant long run relationship between government expenditure on health, public safety and order, culture and recreation as well as education and labour productivity. Government expenditure on education and health variables are also positive and significant in the short run, whilst expenditure on defense is negative and not significant both in the short run and long run.
- Full Text:
- Date Issued: 2020
Guidelines for the user interface design of electronic medical records in optometry
- Authors: Nathoo, Dina
- Date: 2020
- Subjects: User interfaces (Computer systems) , Medical records -- Data processing , Optometry -- South Africa -- Eastern Cape , System design , Workflow management systems
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148782 , vital:38773
- Description: With the prevalence of digitalisation in the medical industry, e-health systems have largely replaced the traditional paper-based recording methods. At the centre of these e-health systems are Electronic Health Records (EHRs) and Electronic Medical Records (EMRs), whose benefits significantly improve physician workflows. However, provision for user interface designs (UIDs) of these systems have been so poor that they have severely hindered physician usability, disrupted their workflows and risked patient safety. UID and usability guidelines have been provided, but have been very high level and general, mostly suitable for EHRs (which are used in general practices and hospitals). These guidelines have thus been ineffective in applicability for EMRs, which are typically used in niche medical environments. Within the niche field of Optometry, physicians experience disrupted workflows as a result of poor EMR UID and usability, of which EMR guidelines to improve these challenges are scarce. Hence, the need for this research arose, aiming to create UID guidelines for EMRs in Optometry, which will help improve the usability of the optometrists’ EMR. The main research question was successfully answered to produce the set of UID Guidelines for EMRs in Optometry, which includes guidelines built upon from literature and made contextually relevant, as well as some new additions, which are more patient focused. Design Science Research (DSR) was chosen as a suitable approach, and the phased Design Science Research Process Model (DSRPM) was used to guide this research. A literature review was conducted, including EHR and EMR, usability, UIDs, Optometry, related fields, and studies previously conducted to provide guidelines, frameworks and models. The review also included studying usability problems reported on the systems and the methods to overcome them. Task Analysis (TA) was used to observe and understand the optometrists’ workflows and their interactions with their EMRs during patient appointments, also identifying EMR problem areas. To address these problems, Focus Groups (FGs) were used to brainstorm solutions in the form of EMR UID features that optometrists’ required to improve their usability. From the literature review, TAs and FGs, proposed guidelines were created. The created guidelines informed the UID of an EMR prototype, which was successfully demonstrated to optometrists during Usability Testing sessions for the evaluation. Surveys were also used for the evaluation. The results proved the guidelines were successful, and were usable, effective, efficient and of good quality. A revised, final set of guidelines was then presented. Future researchers and designers may benefit from the contributions made from this research, which are both theoretical and practical.
- Full Text:
- Date Issued: 2020
- Authors: Nathoo, Dina
- Date: 2020
- Subjects: User interfaces (Computer systems) , Medical records -- Data processing , Optometry -- South Africa -- Eastern Cape , System design , Workflow management systems
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/148782 , vital:38773
- Description: With the prevalence of digitalisation in the medical industry, e-health systems have largely replaced the traditional paper-based recording methods. At the centre of these e-health systems are Electronic Health Records (EHRs) and Electronic Medical Records (EMRs), whose benefits significantly improve physician workflows. However, provision for user interface designs (UIDs) of these systems have been so poor that they have severely hindered physician usability, disrupted their workflows and risked patient safety. UID and usability guidelines have been provided, but have been very high level and general, mostly suitable for EHRs (which are used in general practices and hospitals). These guidelines have thus been ineffective in applicability for EMRs, which are typically used in niche medical environments. Within the niche field of Optometry, physicians experience disrupted workflows as a result of poor EMR UID and usability, of which EMR guidelines to improve these challenges are scarce. Hence, the need for this research arose, aiming to create UID guidelines for EMRs in Optometry, which will help improve the usability of the optometrists’ EMR. The main research question was successfully answered to produce the set of UID Guidelines for EMRs in Optometry, which includes guidelines built upon from literature and made contextually relevant, as well as some new additions, which are more patient focused. Design Science Research (DSR) was chosen as a suitable approach, and the phased Design Science Research Process Model (DSRPM) was used to guide this research. A literature review was conducted, including EHR and EMR, usability, UIDs, Optometry, related fields, and studies previously conducted to provide guidelines, frameworks and models. The review also included studying usability problems reported on the systems and the methods to overcome them. Task Analysis (TA) was used to observe and understand the optometrists’ workflows and their interactions with their EMRs during patient appointments, also identifying EMR problem areas. To address these problems, Focus Groups (FGs) were used to brainstorm solutions in the form of EMR UID features that optometrists’ required to improve their usability. From the literature review, TAs and FGs, proposed guidelines were created. The created guidelines informed the UID of an EMR prototype, which was successfully demonstrated to optometrists during Usability Testing sessions for the evaluation. Surveys were also used for the evaluation. The results proved the guidelines were successful, and were usable, effective, efficient and of good quality. A revised, final set of guidelines was then presented. Future researchers and designers may benefit from the contributions made from this research, which are both theoretical and practical.
- Full Text:
- Date Issued: 2020
Macro-locational determinants and motive of Chinese foreign direct investment in Cameroon
- Authors: Andangnui, Quintabella
- Date: 2020
- Subjects: Investments, Foreign -- Cameroon , Investments, Chinese -- Cameroon , Corporations, Foreign -- Cameroon , Industrial location -- Cameroon
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/163157 , vital:41014
- Description: This research falls under the general themes of macro-locational determinants and motives of Foreign Direct Investment (FDI) and the challenges faced by FDIs. Specifically, the research focuses on macro-locational determinants of FDI and the motives of Chinese FDI in Cameroon, and the challenges faced by Chinese FDI in Cameroon. This research is motivated by China’s interest in African countries as well as the reciprocal interest in Chinese FDI by African countries, especially Cameroon. While various FDI theories and previous empirical studies indicate that macro-locational determinants of FDI constitute a country’s principal comparative advantage to attract FDI, there is still no universally acceptable set of macro-locational determinants of FDI. Furthermore, some empirical studies assert that Chinese FDI does not follow conventional FDI theories or western approaches to FDI, especially when investing in African countries. It is suggested that some widely accepted macro-locational determinants of FDI are frequently ignored by Chinese FDI. While FDI theories identify four motives for FDI (resource-, market-, efficiency-, and strategic asset-seeking) as the main motives for investing in a foreign country, the motives for Chinese FDI, especially in Africa, have been questioned by some scholars, the media and politicians, due to the significant but seemingly counterintuitive investments made by Chinese state-owned FDI in politically unstable resource-rich African countries. Furthermore, differences in the motives of Chinese privately owned and state-owned firms identified in previous empirical studies have raised concerns, particularly regarding the motives of state-owned Chinese firms in Africa which suggest a stance of neo-colonialism by Chinese state-owned FDI. The research aims to identify the significant macro-locational determinants of Chinese FDI in Cameroon, to provide clarity on the motives of Chinese FDI and to identify the challenges faced by Chinese FDI in Cameroon. To achieve the aim of this research, hypothetical relationships based on FDI theory and previous empirical research were formulated between Chinese FDI and the proposed macro-locational determinants of FDI and the four identified motives of FDI. In this research, a positivist research paradigm using quantitative methods was followed. Accordingly, the research design and methodology was underpinned by the positivist paradigm. A descriptive and analytical survey methodology was utilised, using both primary and secondary data sources. Secondary data was collected from reliable and credible databases for the period 2004 to 2018 to generate a time series to test the hypothetical relationships pertaining to the macro-locational determinants of Chinese FDI in Cameroon. To test the hypothetical relationships pertaining to the motives of Chinese FDI and to identify the challenges of Chinese FDI in Cameroon, primary data was collected by means of a questionnaire using convenience and snowball sampling techniques. The validity of the findings on the macro-locational determinants of FDI was confirmed through unit root and cointegration tests. Confirmatory Factor Analysis (CFA) and Cronbach’s alpha coefficients were used to ensure the validity and reliability of the findings on the motives of FDI. To assess the hypothetical relationships on the motives for Chinese FDI, the hypothetical relationship on the macro-locational determinants of FDI was determined using Ordinary Least Square (OLS) regression, t-tests, one-way ANOVA, descriptive statistics and logistic regression. In addition, descriptive statistics were used to analyse the data on the challenges of Chinese FDI. The findings indicated that the main macro-locational determinants of Chinese FDI in Cameroon included market size, political risk, limited trade openness, real effective exchange rate, interest rate and human capital. The findings also indicated that market-seeking constitutes the main motive of privately owned Chinese FDI in Cameroon. The findings also indicated that the top four challenges faced by Chinese FDI in Cameroon include corruption, the ambiguity of the legal system of Cameroon, the difficulty to negotiate with government and privatisation officials and high levels of taxes. The findings of this research serve as a test of theory, given that they determine whether the macro-locational determinants identified from FDI theories are also significant macro-locational determinants of Chinese FDI. Furthermore, the findings have the potential to assist in policy formulation aimed at encouraging Chinese FDI into Cameroon. The findings could also assist the Cameroonian government to allocate national resources efficiently by prioritising identified macro-locational determinants. The findings provide clarity on the motives of Chinese FDI in Cameroon and could assist the government to negotiate better deals that may enable Cameroon to benefit optimally from Chinese FDI.
- Full Text:
- Date Issued: 2020
- Authors: Andangnui, Quintabella
- Date: 2020
- Subjects: Investments, Foreign -- Cameroon , Investments, Chinese -- Cameroon , Corporations, Foreign -- Cameroon , Industrial location -- Cameroon
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/163157 , vital:41014
- Description: This research falls under the general themes of macro-locational determinants and motives of Foreign Direct Investment (FDI) and the challenges faced by FDIs. Specifically, the research focuses on macro-locational determinants of FDI and the motives of Chinese FDI in Cameroon, and the challenges faced by Chinese FDI in Cameroon. This research is motivated by China’s interest in African countries as well as the reciprocal interest in Chinese FDI by African countries, especially Cameroon. While various FDI theories and previous empirical studies indicate that macro-locational determinants of FDI constitute a country’s principal comparative advantage to attract FDI, there is still no universally acceptable set of macro-locational determinants of FDI. Furthermore, some empirical studies assert that Chinese FDI does not follow conventional FDI theories or western approaches to FDI, especially when investing in African countries. It is suggested that some widely accepted macro-locational determinants of FDI are frequently ignored by Chinese FDI. While FDI theories identify four motives for FDI (resource-, market-, efficiency-, and strategic asset-seeking) as the main motives for investing in a foreign country, the motives for Chinese FDI, especially in Africa, have been questioned by some scholars, the media and politicians, due to the significant but seemingly counterintuitive investments made by Chinese state-owned FDI in politically unstable resource-rich African countries. Furthermore, differences in the motives of Chinese privately owned and state-owned firms identified in previous empirical studies have raised concerns, particularly regarding the motives of state-owned Chinese firms in Africa which suggest a stance of neo-colonialism by Chinese state-owned FDI. The research aims to identify the significant macro-locational determinants of Chinese FDI in Cameroon, to provide clarity on the motives of Chinese FDI and to identify the challenges faced by Chinese FDI in Cameroon. To achieve the aim of this research, hypothetical relationships based on FDI theory and previous empirical research were formulated between Chinese FDI and the proposed macro-locational determinants of FDI and the four identified motives of FDI. In this research, a positivist research paradigm using quantitative methods was followed. Accordingly, the research design and methodology was underpinned by the positivist paradigm. A descriptive and analytical survey methodology was utilised, using both primary and secondary data sources. Secondary data was collected from reliable and credible databases for the period 2004 to 2018 to generate a time series to test the hypothetical relationships pertaining to the macro-locational determinants of Chinese FDI in Cameroon. To test the hypothetical relationships pertaining to the motives of Chinese FDI and to identify the challenges of Chinese FDI in Cameroon, primary data was collected by means of a questionnaire using convenience and snowball sampling techniques. The validity of the findings on the macro-locational determinants of FDI was confirmed through unit root and cointegration tests. Confirmatory Factor Analysis (CFA) and Cronbach’s alpha coefficients were used to ensure the validity and reliability of the findings on the motives of FDI. To assess the hypothetical relationships on the motives for Chinese FDI, the hypothetical relationship on the macro-locational determinants of FDI was determined using Ordinary Least Square (OLS) regression, t-tests, one-way ANOVA, descriptive statistics and logistic regression. In addition, descriptive statistics were used to analyse the data on the challenges of Chinese FDI. The findings indicated that the main macro-locational determinants of Chinese FDI in Cameroon included market size, political risk, limited trade openness, real effective exchange rate, interest rate and human capital. The findings also indicated that market-seeking constitutes the main motive of privately owned Chinese FDI in Cameroon. The findings also indicated that the top four challenges faced by Chinese FDI in Cameroon include corruption, the ambiguity of the legal system of Cameroon, the difficulty to negotiate with government and privatisation officials and high levels of taxes. The findings of this research serve as a test of theory, given that they determine whether the macro-locational determinants identified from FDI theories are also significant macro-locational determinants of Chinese FDI. Furthermore, the findings have the potential to assist in policy formulation aimed at encouraging Chinese FDI into Cameroon. The findings could also assist the Cameroonian government to allocate national resources efficiently by prioritising identified macro-locational determinants. The findings provide clarity on the motives of Chinese FDI in Cameroon and could assist the government to negotiate better deals that may enable Cameroon to benefit optimally from Chinese FDI.
- Full Text:
- Date Issued: 2020
Market timing and portfolio returns: an empirical analysis of the potential profitability of buy-sell strategies, based on South African equities 2009-2018
- Authors: Mulweli, Ramulongo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stocks -- Charts, diagrams, etc. , Investment analysis -- South Africa , Stocks -- South Africa , Stocks -- South Africa -- Cast studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144487 , vital:38350
- Description: South Africa’s financial markets have become larger and more complex over recent decades. The number of market participants who are using technical analysis techniques to predict the market’s movement has been growing rapidly. This research aims to investigate if historical share prices can be used when forecasting the market’s direction and to examine the profitability of the Japanese candlestick patterns. The study is based on ten companies selected from the JSE top 40 2019 composition. These are Aspen Pharmacy Holding, Capitec Bank Holding LTD, Discovery LTD, Kumba Iron Ore LTD, Mondi PLC, Mr. Price Group LTD, MTN Group LTD, Naspers LTD, SASOL LTD, and Shoprite Holdings LTD. These were selected from the JSE top 40 based on market capitalization and sector. This research analyzes eight candlestick reversal patterns; four are bullish patterns namely: doji star, hammer, bullish engulfing and the piercing lines and the other four are bearish patterns namely: shooting star, hanging man, bearish engulfing and the dark cloud cover. The ARCH and GARCH models are used to test for correlation between past share prices and future share prices and the binomial test and the mean return calculations were used to test the profitability of candlestick patterns. The sample is from Thomson DataStream 2019 and IRESS SA 2019 and covers ten years with 2496 observations starting from 02 January 2009 to 31 December 2018. The findings from the ARCH and GARCH tests revealed that there is a serial correlation between the returns from the previous day and the returns for the current day. The results from the mean returns and the binomial tests show strong evidence that the shooting star, hanging man, bearish engulfing and the bulling engulfing are statistically significant in predicting the share price movements. On the other hand, there was no evidence that the dark cloud cover, piercing lines, and the bullish doji can predict share price movements. Additionally, further studies on this topic could be improved by adding different candlestick patterns and the total number of companies analyzed. The results could also be improved by analyzing the candlestick reversal patterns when they are used with other trading rules such as support resistance levels and oscillators.
- Full Text:
- Date Issued: 2020
- Authors: Mulweli, Ramulongo
- Date: 2020
- Subjects: Johannesburg Stock Exchange , Stocks -- Charts, diagrams, etc. , Investment analysis -- South Africa , Stocks -- South Africa , Stocks -- South Africa -- Cast studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/144487 , vital:38350
- Description: South Africa’s financial markets have become larger and more complex over recent decades. The number of market participants who are using technical analysis techniques to predict the market’s movement has been growing rapidly. This research aims to investigate if historical share prices can be used when forecasting the market’s direction and to examine the profitability of the Japanese candlestick patterns. The study is based on ten companies selected from the JSE top 40 2019 composition. These are Aspen Pharmacy Holding, Capitec Bank Holding LTD, Discovery LTD, Kumba Iron Ore LTD, Mondi PLC, Mr. Price Group LTD, MTN Group LTD, Naspers LTD, SASOL LTD, and Shoprite Holdings LTD. These were selected from the JSE top 40 based on market capitalization and sector. This research analyzes eight candlestick reversal patterns; four are bullish patterns namely: doji star, hammer, bullish engulfing and the piercing lines and the other four are bearish patterns namely: shooting star, hanging man, bearish engulfing and the dark cloud cover. The ARCH and GARCH models are used to test for correlation between past share prices and future share prices and the binomial test and the mean return calculations were used to test the profitability of candlestick patterns. The sample is from Thomson DataStream 2019 and IRESS SA 2019 and covers ten years with 2496 observations starting from 02 January 2009 to 31 December 2018. The findings from the ARCH and GARCH tests revealed that there is a serial correlation between the returns from the previous day and the returns for the current day. The results from the mean returns and the binomial tests show strong evidence that the shooting star, hanging man, bearish engulfing and the bulling engulfing are statistically significant in predicting the share price movements. On the other hand, there was no evidence that the dark cloud cover, piercing lines, and the bullish doji can predict share price movements. Additionally, further studies on this topic could be improved by adding different candlestick patterns and the total number of companies analyzed. The results could also be improved by analyzing the candlestick reversal patterns when they are used with other trading rules such as support resistance levels and oscillators.
- Full Text:
- Date Issued: 2020
Perceptions of the sugar-sweetened beverage tax in South Africa: a comparative study
- Jankeeparsad, Thanesha Reddy
- Authors: Jankeeparsad, Thanesha Reddy
- Date: 2020
- Subjects: Soft drinks -- Taxation -- South Africa , Carbonated drinks -- Taxation -- South Africa , Soft drinks -- Health aspects , College students -- South Africa -- Attitudes
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/142324 , vital:38070
- Description: This exploratory, comparative study aimed to investigate perceptions of the participants in the study in South Africa regarding the tax on sugar-sweetened beverages. The study further aimed to compare these perceptions with perceptions identified in selected foreign jurisdictions that have levied the tax on sugar-sweetened beverages. A voluntary, paper-based, anonymous survey questionnaire that included both closed- and open-ended questions was selected as the primary method of data collection. This questionnaire was administered to post-graduate Bachelor of Commerce Accounting and Postgraduate Diploma in Accounting students, aged twenty-one years and older, studying at three residential universities in South Africa, during the 2018 academic year. An extensive analysis of literature available on sugar-sweetened beverage taxes, both locally and internationally, was conducted. The two main constructs (construct 1: perception of the sugar-sweetened beverage tax and the price of sugar-sweetened beverages and construct 2: the social impact of the sugarsweetened beverage tax) were then analysed using descriptive statistics. This study found that there is a significant association between gender and perception that the sugary beverage levy will be beneficial to health, with female perceptions of the benefit of the sugary beverage levy being greater than that of males. Respondents appear to have a positive perception of the sugary beverages levy, understand the sugary beverage levy, as well as the health benefits that will be derived from the levy. Respondents supported the tax on sugar-sweetened beverages if the revenue generated was used to improve the health care system and if the price of healthy foods decreased. Female respondents were found to drink fewer sugarsweetened beverages than male respondents, but females reported higher sugar-sweetened beverage consumption during stressful periods. The current study can possibly provide policy makers with more information regarding acceptance of the sugar-sweetened beverage tax and shape guidelines for future amendments of the tax imposed.
- Full Text:
- Date Issued: 2020
- Authors: Jankeeparsad, Thanesha Reddy
- Date: 2020
- Subjects: Soft drinks -- Taxation -- South Africa , Carbonated drinks -- Taxation -- South Africa , Soft drinks -- Health aspects , College students -- South Africa -- Attitudes
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/142324 , vital:38070
- Description: This exploratory, comparative study aimed to investigate perceptions of the participants in the study in South Africa regarding the tax on sugar-sweetened beverages. The study further aimed to compare these perceptions with perceptions identified in selected foreign jurisdictions that have levied the tax on sugar-sweetened beverages. A voluntary, paper-based, anonymous survey questionnaire that included both closed- and open-ended questions was selected as the primary method of data collection. This questionnaire was administered to post-graduate Bachelor of Commerce Accounting and Postgraduate Diploma in Accounting students, aged twenty-one years and older, studying at three residential universities in South Africa, during the 2018 academic year. An extensive analysis of literature available on sugar-sweetened beverage taxes, both locally and internationally, was conducted. The two main constructs (construct 1: perception of the sugar-sweetened beverage tax and the price of sugar-sweetened beverages and construct 2: the social impact of the sugarsweetened beverage tax) were then analysed using descriptive statistics. This study found that there is a significant association between gender and perception that the sugary beverage levy will be beneficial to health, with female perceptions of the benefit of the sugary beverage levy being greater than that of males. Respondents appear to have a positive perception of the sugary beverages levy, understand the sugary beverage levy, as well as the health benefits that will be derived from the levy. Respondents supported the tax on sugar-sweetened beverages if the revenue generated was used to improve the health care system and if the price of healthy foods decreased. Female respondents were found to drink fewer sugarsweetened beverages than male respondents, but females reported higher sugar-sweetened beverage consumption during stressful periods. The current study can possibly provide policy makers with more information regarding acceptance of the sugar-sweetened beverage tax and shape guidelines for future amendments of the tax imposed.
- Full Text:
- Date Issued: 2020