The influence of financial socialisation agents on financial knowledge, financial self-efficacy and financial behaviour among South African consumers
- Authors: Maswena, Kaelo
- Date: 2022-04-06
- Subjects: Financial literacy South Africa , Finance, Personal South Africa , Budgets, Personal South Africa , Consumer behavior South Africa , Consumers Attitudes , Life skills South Africa , Social learning South Africa , Self-control South Africa , Socialization South Africa , Financial socialisation agents
- Language: English
- Type: Master's thesis , text
- Identifier: http://hdl.handle.net/10962/232421 , vital:49990
- Description: There is a need to promote positive financial behaviour in South Africa. According to the Human Sciences Research Council (2018), South African financial behaviour culture emphasises a financially vulnerable nation in terms of not having enough income for future planning and lacking financial self-control. In its key role in influencing financial behaviour, financial socialisation, which is characterised by interactions with indirect, or purposive financial education and communication of financial norms influencing financial behaviours, attitudes, knowledge, capabilities, and self-efficacy of consumers, is the topic of this study. The purpose of the study was to investigate the influence of financial socialisation agents on financial (actual and self-assessed) knowledge, financial self-efficacy and financial behaviour among South African consumers. Based on Glenn’s (2018) framework, Xiao et al. (2009) socialisation and Moschis et al. (1978) consumer socialisation theory, the financial socialisation theoretical framework is provided for this study. Literature review provided an overview of past studies on the concepts of financial socialisation, financial (actual and self-assessed) knowledge, financial self-efficacy and financial behaviour. Therefore, a positivistic research paradigm was adopted, which used a cross-sectional correlational research methodology. This study analysed data primarily collected by a questionnaire survey of South African social attitudes to financial literacy by the Human Sciences Research Council (2011), using a multi-staged sampling technique in all South African provinces of consumers of 16 years and older. Descriptive statistics showed that most respondents were black African females between the ages of 26 and 35 years. Most held Matric certificates and were in paid employment for 30 hours or more per week. Most respondents considered family to be the most influential financial socialisation agent, followed by friends, then the bank. Actual financial knowledge of respondents, was indicated as relatively high. Results on self-assessed financial knowledge showed that most of the respondents considered their level of financial knowledge to be neutral. Using Pearson product-moment correlations to measure the strength and correlations of relationships, positive significant correlations were found between financial socialisation agents, financial (actual and self-assessed) knowledge and financial self-efficacy, while a negative and insignificant correlation was found between financial socialisation agents and financial behaviour. Multiple regression analysis results testing the hypotheses of the study demonstrated that financial socialisation agents have a significant positive influence on financial (actual and self-assessed) knowledge and financial self-efficacy; a significant influence on financial behaviour was not reported. Self-assessed financial knowledge showed a positive significant influence on financial self-efficacy and actual financial knowledge had an insignificant negative influence on financial self-efficacy. Actual financial knowledge had a significant positive influence on financial behaviour, whereby a positive yet insignificant relationship was found between self-assessed knowledge and financial behaviour. In the end, recommendations for the results indicate that financial educators need to develop a financial education plan that will include other content areas of financial knowledge such as identified by Huston (2010) and Lusardi and Mitchell (2011); the most important recommendation would be to help consumers have an accurate understanding of their own level of financial knowledge and to improve financial self-efficacy in consumers, financial socialisation experiences such as offering encouragement to open a bank account, to save and invest money, and presenting opportunities to practise financial skills, may increase consumers’ self-efficacy and lead to positive financial behaviours. , Thesis (MCom) -- Faculty of Commerce, Management, 2022
- Full Text:
- Authors: Maswena, Kaelo
- Date: 2022-04-06
- Subjects: Financial literacy South Africa , Finance, Personal South Africa , Budgets, Personal South Africa , Consumer behavior South Africa , Consumers Attitudes , Life skills South Africa , Social learning South Africa , Self-control South Africa , Socialization South Africa , Financial socialisation agents
- Language: English
- Type: Master's thesis , text
- Identifier: http://hdl.handle.net/10962/232421 , vital:49990
- Description: There is a need to promote positive financial behaviour in South Africa. According to the Human Sciences Research Council (2018), South African financial behaviour culture emphasises a financially vulnerable nation in terms of not having enough income for future planning and lacking financial self-control. In its key role in influencing financial behaviour, financial socialisation, which is characterised by interactions with indirect, or purposive financial education and communication of financial norms influencing financial behaviours, attitudes, knowledge, capabilities, and self-efficacy of consumers, is the topic of this study. The purpose of the study was to investigate the influence of financial socialisation agents on financial (actual and self-assessed) knowledge, financial self-efficacy and financial behaviour among South African consumers. Based on Glenn’s (2018) framework, Xiao et al. (2009) socialisation and Moschis et al. (1978) consumer socialisation theory, the financial socialisation theoretical framework is provided for this study. Literature review provided an overview of past studies on the concepts of financial socialisation, financial (actual and self-assessed) knowledge, financial self-efficacy and financial behaviour. Therefore, a positivistic research paradigm was adopted, which used a cross-sectional correlational research methodology. This study analysed data primarily collected by a questionnaire survey of South African social attitudes to financial literacy by the Human Sciences Research Council (2011), using a multi-staged sampling technique in all South African provinces of consumers of 16 years and older. Descriptive statistics showed that most respondents were black African females between the ages of 26 and 35 years. Most held Matric certificates and were in paid employment for 30 hours or more per week. Most respondents considered family to be the most influential financial socialisation agent, followed by friends, then the bank. Actual financial knowledge of respondents, was indicated as relatively high. Results on self-assessed financial knowledge showed that most of the respondents considered their level of financial knowledge to be neutral. Using Pearson product-moment correlations to measure the strength and correlations of relationships, positive significant correlations were found between financial socialisation agents, financial (actual and self-assessed) knowledge and financial self-efficacy, while a negative and insignificant correlation was found between financial socialisation agents and financial behaviour. Multiple regression analysis results testing the hypotheses of the study demonstrated that financial socialisation agents have a significant positive influence on financial (actual and self-assessed) knowledge and financial self-efficacy; a significant influence on financial behaviour was not reported. Self-assessed financial knowledge showed a positive significant influence on financial self-efficacy and actual financial knowledge had an insignificant negative influence on financial self-efficacy. Actual financial knowledge had a significant positive influence on financial behaviour, whereby a positive yet insignificant relationship was found between self-assessed knowledge and financial behaviour. In the end, recommendations for the results indicate that financial educators need to develop a financial education plan that will include other content areas of financial knowledge such as identified by Huston (2010) and Lusardi and Mitchell (2011); the most important recommendation would be to help consumers have an accurate understanding of their own level of financial knowledge and to improve financial self-efficacy in consumers, financial socialisation experiences such as offering encouragement to open a bank account, to save and invest money, and presenting opportunities to practise financial skills, may increase consumers’ self-efficacy and lead to positive financial behaviours. , Thesis (MCom) -- Faculty of Commerce, Management, 2022
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Wild Honeybush (Cyclopia intermedia) augmentation
- Authors: Michau, Paul-Luc
- Date: 2022-04-06
- Subjects: Herbal teas South Africa Joubertina , Tea trade South Africa Joubertina , Legumes Harvesting South Africa Joubertina , Legumes Planting South Africa Joubertina , Sustainable development South Africa Joubertina , Economic development Environmental aspects South Africa Joubertina , Natural resources Management South Africa Joubertina , Wild Honeybush (Cyclopia intermedia)
- Language: English
- Type: Master's thesis , text
- Identifier: http://hdl.handle.net/10962/232635 , vital:50009
- Description: Honeybush (Cyclopia spp.) is an endemic legume to the fynbos region of South Africa, and certain species of the genus are used to make health tonics. There are growing international markets for such products and, currently, wild populations of the species Cyclopia intermedia are disproportionately relied upon to support this increase. Due to the sensitivity and ecological complexity of the resource, serious concerns about sustainability and regulation have arisen. The social landscape of the resource is equally as complex, and solutions for alleviating pressure on wild populations, such as reducing or banning harvesting, and switching to commercial cultivation are untenable in every case. A possible option, which has been used in the wildflower industry, is to augment (increase) wild populations by planting seeds or seedlings directly into the veld. The main focus of this research was to explore the viability of using augmentation to boost wild populations of C. intermedia through field trials. In support of this broad aim, research objectives addressed understanding the ecological habitat conditions of the species, quantifying the economic potential of augmentation, characterizing wild populations and conducting seed germination tests. GIS methods were used to locate sites most representative of natural conditions on different post-fire aged veld on a farm in the Kouga mountains. The study characterized habitat conditions by collecting soil and vegetation samples at plots where honeybush was present and absent within close proximity. Vegetation diversity was only slightly higher in presence plots, and no clear pattern between absence and presence plots was observed for soil properties. However, post-fire site age did significantly influence certain nutrient levels. The augmentation trial results indicate that seedlings have a much higher survival rate than seeds on average. Survival success varied unpredictably between plots where wild honeybush was already present and adjacent plots where it was absent. Post-fire site age influenced seedling growth and seed survival positively with the newly burnt plots showing the best growth rates overall. The cost-benefit analysis reveals that seeds are a better option as they require low-cost inputs and carry less risk, unlike seedlings which may have higher survival but are more expensive. The study recommends using trials to assess survival before choosing an option. Out of five natural populations of honeybush that were assessed only one showed seedling recruitment and three young plants were found between two of the other sites. Growth characteristics of populations showed expected variability based on site conditions and disturbance history. Growth appears to be rapid in the first-year post disturbance, thereafter slowing down. Average stem numbers and basal circumference increased concurrently for both harvested and unharvested populations. Due to the influence of natural conditions such as slope aspect and soil properties on plant morphology, it is best to compare harvested and unharvested individuals from the same site and preferably within close proximity to minimize such differences. Using seed sourced from the same parent population is critical to preserving genetic integrity and little is understood about germination characteristics from wild C. intermedia populations. The study tested germination rates between green and brown seed and alternative collection methods. When comparisons were done within farms on two occasions collection and seed colour did have a significant influence. Overall, the influence of which farm the seeds were collected from appeared to play the biggest role in determining germination. , Thesis (MSc) -- Faculty of Science, Geography, 2022
- Full Text:
- Authors: Michau, Paul-Luc
- Date: 2022-04-06
- Subjects: Herbal teas South Africa Joubertina , Tea trade South Africa Joubertina , Legumes Harvesting South Africa Joubertina , Legumes Planting South Africa Joubertina , Sustainable development South Africa Joubertina , Economic development Environmental aspects South Africa Joubertina , Natural resources Management South Africa Joubertina , Wild Honeybush (Cyclopia intermedia)
- Language: English
- Type: Master's thesis , text
- Identifier: http://hdl.handle.net/10962/232635 , vital:50009
- Description: Honeybush (Cyclopia spp.) is an endemic legume to the fynbos region of South Africa, and certain species of the genus are used to make health tonics. There are growing international markets for such products and, currently, wild populations of the species Cyclopia intermedia are disproportionately relied upon to support this increase. Due to the sensitivity and ecological complexity of the resource, serious concerns about sustainability and regulation have arisen. The social landscape of the resource is equally as complex, and solutions for alleviating pressure on wild populations, such as reducing or banning harvesting, and switching to commercial cultivation are untenable in every case. A possible option, which has been used in the wildflower industry, is to augment (increase) wild populations by planting seeds or seedlings directly into the veld. The main focus of this research was to explore the viability of using augmentation to boost wild populations of C. intermedia through field trials. In support of this broad aim, research objectives addressed understanding the ecological habitat conditions of the species, quantifying the economic potential of augmentation, characterizing wild populations and conducting seed germination tests. GIS methods were used to locate sites most representative of natural conditions on different post-fire aged veld on a farm in the Kouga mountains. The study characterized habitat conditions by collecting soil and vegetation samples at plots where honeybush was present and absent within close proximity. Vegetation diversity was only slightly higher in presence plots, and no clear pattern between absence and presence plots was observed for soil properties. However, post-fire site age did significantly influence certain nutrient levels. The augmentation trial results indicate that seedlings have a much higher survival rate than seeds on average. Survival success varied unpredictably between plots where wild honeybush was already present and adjacent plots where it was absent. Post-fire site age influenced seedling growth and seed survival positively with the newly burnt plots showing the best growth rates overall. The cost-benefit analysis reveals that seeds are a better option as they require low-cost inputs and carry less risk, unlike seedlings which may have higher survival but are more expensive. The study recommends using trials to assess survival before choosing an option. Out of five natural populations of honeybush that were assessed only one showed seedling recruitment and three young plants were found between two of the other sites. Growth characteristics of populations showed expected variability based on site conditions and disturbance history. Growth appears to be rapid in the first-year post disturbance, thereafter slowing down. Average stem numbers and basal circumference increased concurrently for both harvested and unharvested populations. Due to the influence of natural conditions such as slope aspect and soil properties on plant morphology, it is best to compare harvested and unharvested individuals from the same site and preferably within close proximity to minimize such differences. Using seed sourced from the same parent population is critical to preserving genetic integrity and little is understood about germination characteristics from wild C. intermedia populations. The study tested germination rates between green and brown seed and alternative collection methods. When comparisons were done within farms on two occasions collection and seed colour did have a significant influence. Overall, the influence of which farm the seeds were collected from appeared to play the biggest role in determining germination. , Thesis (MSc) -- Faculty of Science, Geography, 2022
- Full Text:
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