An investigation of ICT project management techniques for sustainable ICT projects in rural development
- Authors: Pade, Caroline Ileje
- Date: 2007
- Subjects: Educational technology -- South Africa , Information technology -- Study and teaching -- South Africa , Project management -- South Africa , Rural development projects -- South Africa , Rural development projects -- South Africa -- Case studies , Rhodes University Mathematics Education Project , Dwesa ICT Project
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1140 , http://hdl.handle.net/10962/d1002769 , Educational technology -- South Africa , Information technology -- Study and teaching -- South Africa , Project management -- South Africa , Rural development projects -- South Africa , Rural development projects -- South Africa -- Case studies , Rhodes University Mathematics Education Project , Dwesa ICT Project
- Description: Poverty alleviation by means of rural development has become a priority among developing countries. In turn, rural development may be significantly enhanced and supported by Information and Communication Technologies (ICTs), the use of which is highlighted by the emerging importance of information and knowledge as key strategic resources for social and economic development. An analysis of rural case studies where ICTs have been introduced, suggests that there are a number of barriers and constraints that are faced when taking advantage of these technologies. These include access to infrastructure, limited formal education, insufficient training and capacity building, financial and political constraints, and social and cultural challenges. These challenges threaten the success and sustainability of rural ICT projects. Sustainability is key to the effectiveness of a rural ICT project; therefore it is important to understand the concept and categories associated with ICT project sustainability in rural areas. The categories of sustainability which include social and cultural, institutional, economic, political, and technological, reveal critical success factors that need to be considered in the implementation and management of rural ICT projects. The project management discipline acknowledges the importance of understanding the project’s environment, particularly environmental factors associated with rural communities. The complexity of the environment therefore implies the need for a project to be undertaken in phases comprising the project life cycle. Project management practice for rural ICT project sustainability can therefore be examined, adapting the traditional project life cycle to a rural ICT project. A Rural ICT Project Life Cycle (RICT-PLC) that is sensitive to the critical success factors of sustainability is therefore proposed. In order to further investigate the phases of the life cycle of a rural ICT project, two case study investigations are explored: the Dwesa ICT community project, and the Rhodes University Mathematics Education Project (RUMEP) (MathsNet). A multiple case study analysis confirms the practices associated with the RICT-PLC model, and identifies additional characteristics, phases and practices associated with rural ICT projects. Finally, an enhanced RICT-PLC model is developed, that sets sustainability guidelines for ICT project management in rural areas and identifies the people, environments, technologies, systems, and requirements for ICTs to support rural development activities.
- Full Text:
- Date Issued: 2007
- Authors: Pade, Caroline Ileje
- Date: 2007
- Subjects: Educational technology -- South Africa , Information technology -- Study and teaching -- South Africa , Project management -- South Africa , Rural development projects -- South Africa , Rural development projects -- South Africa -- Case studies , Rhodes University Mathematics Education Project , Dwesa ICT Project
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1140 , http://hdl.handle.net/10962/d1002769 , Educational technology -- South Africa , Information technology -- Study and teaching -- South Africa , Project management -- South Africa , Rural development projects -- South Africa , Rural development projects -- South Africa -- Case studies , Rhodes University Mathematics Education Project , Dwesa ICT Project
- Description: Poverty alleviation by means of rural development has become a priority among developing countries. In turn, rural development may be significantly enhanced and supported by Information and Communication Technologies (ICTs), the use of which is highlighted by the emerging importance of information and knowledge as key strategic resources for social and economic development. An analysis of rural case studies where ICTs have been introduced, suggests that there are a number of barriers and constraints that are faced when taking advantage of these technologies. These include access to infrastructure, limited formal education, insufficient training and capacity building, financial and political constraints, and social and cultural challenges. These challenges threaten the success and sustainability of rural ICT projects. Sustainability is key to the effectiveness of a rural ICT project; therefore it is important to understand the concept and categories associated with ICT project sustainability in rural areas. The categories of sustainability which include social and cultural, institutional, economic, political, and technological, reveal critical success factors that need to be considered in the implementation and management of rural ICT projects. The project management discipline acknowledges the importance of understanding the project’s environment, particularly environmental factors associated with rural communities. The complexity of the environment therefore implies the need for a project to be undertaken in phases comprising the project life cycle. Project management practice for rural ICT project sustainability can therefore be examined, adapting the traditional project life cycle to a rural ICT project. A Rural ICT Project Life Cycle (RICT-PLC) that is sensitive to the critical success factors of sustainability is therefore proposed. In order to further investigate the phases of the life cycle of a rural ICT project, two case study investigations are explored: the Dwesa ICT community project, and the Rhodes University Mathematics Education Project (RUMEP) (MathsNet). A multiple case study analysis confirms the practices associated with the RICT-PLC model, and identifies additional characteristics, phases and practices associated with rural ICT projects. Finally, an enhanced RICT-PLC model is developed, that sets sustainability guidelines for ICT project management in rural areas and identifies the people, environments, technologies, systems, and requirements for ICTs to support rural development activities.
- Full Text:
- Date Issued: 2007
An investigation of social computing
- Authors: Schlenkrich, Lara
- Date: 2009
- Subjects: Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1149 , http://hdl.handle.net/10962/d1006194 , Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Description: Social network sites have recently become extremely popular online destinations as they offer users easy ways to build and maintain their relationships with each other. Consequently, students, lecturers, teachers, parents and businesses are using these tools to communicate with each other in a fast and cost-effective manner. However, literature suggests that the full potential of social network sites has not yet been revealed since users are still battling to overcome the various negative characteristics surrounding these sites. A framework for appropriate use of these sites is needed so that users are able to overcome these negative aspects, allowing them to be more effective and use the sites successfully. The goal of this research is to construct a framework for perceived successful use of social computing tools in educational institutions. This framework will include critical success factors that need to be adopted by users in order to develop the positive aspects of social computing, while at the same time overcoming the disadvantages experienced by users. Factors for successful use were derived from the literature and consolidated into a theoretical framework in order to understand the factors that drive successful use of social network sites. Measures used to test successful use of social network sites were also derived from these sources and were included in the same theoretical framework; these measures allow users to evaluate the extent of perceived successful use of social network sites. This framework was tested empirically by means of a pilot study and online survey, and revised according to the results of the survey. The factors were identified using Cronbach alpha coefficients (in the pilot study) and exploratory factor analysis to confirm the reliability of the scales developed. Pearson product-moment correlation coefficient analysis, t-tests and Pearson Chi-Square tests were used to measure the relationships amongst the variables in the framework proposed in this research. The factors influencing perceived successful use of social network sites were identified by the empirical study as: • Privacy and Security Settings need to be enabled. These are split into: - Settings: content that users allow others to see - Viewers: people who are allowed onto a user's profile • It is necessary for users to practise Legal and Acceptable Activities when using social network sites • Suspect Information needs to be checked before sharing it with others • Personal and Professional Time needs to be separated to ensure that work is completed before social activities occur • Users need to practise Professional and Ethical Behaviour • Users need to have a Positive Attitude when using social network sites • Usability of sites affects their success. This includes: - technical capacity (broadband) - ease of use - functionality (range of features and functions) • Current and Controversial Issues need to be discussed on social network sites. The extent to which social network sites are being used successfully can be evaluated by the presence of the following measures: • Range of Content must be available to users. This includes: - Content displayed on profiles - Viewers able to visit profiles • Visitors Behaviour is monitored and no unwanted visitors are present users' profiles • Social Contracts found on sites are followed by users • Critical Thinking Skills and Accurate Information are displayed by users • Work is completed before social activities occur on sites • A Variety of Users is present on sites • Collaboration between people as well as variety of opinions exist on sites • Social Capital (well-being) is present after users have been on sites • Learning and Advising Skills are enhanced on sites. The framework developed provides users with a useful instrument to overcome the negative characteristics associated with social network sites. If used successfully, social network sites can offer lecturers and students a unique method to develop their relationship, creating a positive learning experience.
- Full Text:
- Date Issued: 2009
- Authors: Schlenkrich, Lara
- Date: 2009
- Subjects: Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1149 , http://hdl.handle.net/10962/d1006194 , Online social networks , Online social networks -- Law and legislation , Interpersonal communication , Internet in education , Education -- Communication system , Education -- Data processing
- Description: Social network sites have recently become extremely popular online destinations as they offer users easy ways to build and maintain their relationships with each other. Consequently, students, lecturers, teachers, parents and businesses are using these tools to communicate with each other in a fast and cost-effective manner. However, literature suggests that the full potential of social network sites has not yet been revealed since users are still battling to overcome the various negative characteristics surrounding these sites. A framework for appropriate use of these sites is needed so that users are able to overcome these negative aspects, allowing them to be more effective and use the sites successfully. The goal of this research is to construct a framework for perceived successful use of social computing tools in educational institutions. This framework will include critical success factors that need to be adopted by users in order to develop the positive aspects of social computing, while at the same time overcoming the disadvantages experienced by users. Factors for successful use were derived from the literature and consolidated into a theoretical framework in order to understand the factors that drive successful use of social network sites. Measures used to test successful use of social network sites were also derived from these sources and were included in the same theoretical framework; these measures allow users to evaluate the extent of perceived successful use of social network sites. This framework was tested empirically by means of a pilot study and online survey, and revised according to the results of the survey. The factors were identified using Cronbach alpha coefficients (in the pilot study) and exploratory factor analysis to confirm the reliability of the scales developed. Pearson product-moment correlation coefficient analysis, t-tests and Pearson Chi-Square tests were used to measure the relationships amongst the variables in the framework proposed in this research. The factors influencing perceived successful use of social network sites were identified by the empirical study as: • Privacy and Security Settings need to be enabled. These are split into: - Settings: content that users allow others to see - Viewers: people who are allowed onto a user's profile • It is necessary for users to practise Legal and Acceptable Activities when using social network sites • Suspect Information needs to be checked before sharing it with others • Personal and Professional Time needs to be separated to ensure that work is completed before social activities occur • Users need to practise Professional and Ethical Behaviour • Users need to have a Positive Attitude when using social network sites • Usability of sites affects their success. This includes: - technical capacity (broadband) - ease of use - functionality (range of features and functions) • Current and Controversial Issues need to be discussed on social network sites. The extent to which social network sites are being used successfully can be evaluated by the presence of the following measures: • Range of Content must be available to users. This includes: - Content displayed on profiles - Viewers able to visit profiles • Visitors Behaviour is monitored and no unwanted visitors are present users' profiles • Social Contracts found on sites are followed by users • Critical Thinking Skills and Accurate Information are displayed by users • Work is completed before social activities occur on sites • A Variety of Users is present on sites • Collaboration between people as well as variety of opinions exist on sites • Social Capital (well-being) is present after users have been on sites • Learning and Advising Skills are enhanced on sites. The framework developed provides users with a useful instrument to overcome the negative characteristics associated with social network sites. If used successfully, social network sites can offer lecturers and students a unique method to develop their relationship, creating a positive learning experience.
- Full Text:
- Date Issued: 2009
An investigation of the corporate planning concept in a South African motor manufacturing undertaking
- Authors: Coman, Keith Rawson
- Date: 1980
- Subjects: Business planning -- South Africa , Motor vehicle industry -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1081 , http://hdl.handle.net/10962/d1010583 , Business planning -- South Africa , Motor vehicle industry -- South Africa
- Description: The intention of this dissertation is to attempt to project the theoretical concept of Corporate (or Long-Range) Planning into the reality of one of South Africa's major motor vehicle manufacturing company's task environment. It is a sad fact that there are no universally - applicable practical planning "laws" (as are present within the discipline of, say, Physics) amidst the ever-changing hurly-burly world of modern commerce and industry. Accordingly, there are very real distinctions between distilled Corporate Planning theory, as it is propounded in the many available books and articles, and Corporate Planning practice as actually implemented. This is true largely by virtue of the fact that in the same way as persons differ in their physical and mental make-up, so too do individual companies; even to the extent of acquiring a distinct corporate "personality" of their own. Terms of reference, p. 1.
- Full Text:
- Date Issued: 1980
- Authors: Coman, Keith Rawson
- Date: 1980
- Subjects: Business planning -- South Africa , Motor vehicle industry -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1081 , http://hdl.handle.net/10962/d1010583 , Business planning -- South Africa , Motor vehicle industry -- South Africa
- Description: The intention of this dissertation is to attempt to project the theoretical concept of Corporate (or Long-Range) Planning into the reality of one of South Africa's major motor vehicle manufacturing company's task environment. It is a sad fact that there are no universally - applicable practical planning "laws" (as are present within the discipline of, say, Physics) amidst the ever-changing hurly-burly world of modern commerce and industry. Accordingly, there are very real distinctions between distilled Corporate Planning theory, as it is propounded in the many available books and articles, and Corporate Planning practice as actually implemented. This is true largely by virtue of the fact that in the same way as persons differ in their physical and mental make-up, so too do individual companies; even to the extent of acquiring a distinct corporate "personality" of their own. Terms of reference, p. 1.
- Full Text:
- Date Issued: 1980
An investigation of the development and adoption of educational metadata standards for the widespread use of learning objects
- Authors: Krull, Greig Emil
- Date: 2005
- Subjects: Metadata , Internet in education , Web databases , Education -- Standards , Educational technology , Computer-assisted instruction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1142 , http://hdl.handle.net/10962/d1002771 , Metadata , Internet in education , Web databases , Education -- Standards , Educational technology , Computer-assisted instruction
- Description: This research investigates the development and adoption of educational metadata standards for the widespread use of learning objects. Learning objects, metadata, the related IEEE standard and the various application profiles derived from the standard are discussed. A number of standards and specifications for educational metadata used to describe learning objects are explored, namely the Dublin Core, IMS, SCORM, ARIADNE, CanCore and the UK LOM Core. Three metadata editors and the experience with using one of them, RELOAD, is described. These educational metadata specifications are used in a practical metadata implementation scenario and the experiences are extrapolated to derive a localised instance of the generic IEEE standard. A new application profile is proposed, “RU LOM Core”, for the South African higher education context. Some existing results are confirmed about the complexity of using the IEEE standard and it is demonstrated that it is possible to instantiate the standard for South African conditions. The results are largely qualitative and based on practical experience. However, the results concur with results from related research. Although the development of an application profile is certainly not new, the development of RU LOM Core illustrates that the IEEE standard, developed largely within the northern hemisphere, can be adapted to work in the South African scenario. RU LOM Core has been developed for the South African higher education environment and takes linguistic and cultural diversity and the low rate of technological literacy into consideration. The lessons learned and the proposed LOM core can be built upon in further research and collaboration to use and support the use of such standards within South Africa.
- Full Text:
- Date Issued: 2005
- Authors: Krull, Greig Emil
- Date: 2005
- Subjects: Metadata , Internet in education , Web databases , Education -- Standards , Educational technology , Computer-assisted instruction
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1142 , http://hdl.handle.net/10962/d1002771 , Metadata , Internet in education , Web databases , Education -- Standards , Educational technology , Computer-assisted instruction
- Description: This research investigates the development and adoption of educational metadata standards for the widespread use of learning objects. Learning objects, metadata, the related IEEE standard and the various application profiles derived from the standard are discussed. A number of standards and specifications for educational metadata used to describe learning objects are explored, namely the Dublin Core, IMS, SCORM, ARIADNE, CanCore and the UK LOM Core. Three metadata editors and the experience with using one of them, RELOAD, is described. These educational metadata specifications are used in a practical metadata implementation scenario and the experiences are extrapolated to derive a localised instance of the generic IEEE standard. A new application profile is proposed, “RU LOM Core”, for the South African higher education context. Some existing results are confirmed about the complexity of using the IEEE standard and it is demonstrated that it is possible to instantiate the standard for South African conditions. The results are largely qualitative and based on practical experience. However, the results concur with results from related research. Although the development of an application profile is certainly not new, the development of RU LOM Core illustrates that the IEEE standard, developed largely within the northern hemisphere, can be adapted to work in the South African scenario. RU LOM Core has been developed for the South African higher education environment and takes linguistic and cultural diversity and the low rate of technological literacy into consideration. The lessons learned and the proposed LOM core can be built upon in further research and collaboration to use and support the use of such standards within South Africa.
- Full Text:
- Date Issued: 2005
An online information security Aaareness model: the disclosure of personal data
- Authors: Parker, Heather Joubert
- Date: 2021
- Subjects: Social media -- Psychological aspects , Social media -- Psychological aspects -- South Africa , Human behavior , Disclosure of information -- Psychological aspects -- Case studies , Personal information management -- Psychological aspects -- Case studies , Data protection -- Psychologial aspects -- Case studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/172329 , vital:42189
- Description: Social media has revolutionized the way people send and receive information by creating a new level of interconnected communication. However, the use of the Internet and social media brings about various ways in which a user’s personal data can be put at risk. This study aims to investigate what drives the disclosure of personal information online and whether an increase in awareness of the value of personal information motivates users to safeguard their information. Fourteen university students participated in a mixed-methods experiment, where they completed a questionnaire before and after being shown the data stored about them by online platforms to determine if changes occur in their intention to disclose. Following completing the initial questionnaire, the participant viewed the personal data stored about them by Facebook, Google, and Instagram. Other online tools such as Social Profile Checker, Facebook View As, and HaveIBeenPawned were used to see the information publicly available about each participant. Together these findings were discussed in a semi-structured interview to determine the influence of attitudes, subjective norms, and awareness on the cost-benefit analysis users conduct when disclosing information online. Overall, the findings indicate that users are able to disregard their concerns due to a resigned and apathetic attitude towards privacy. Furthermore, subjective norms enhanced by FOMO further allow users to overlook potential risks to their information in order to avoid social isolation and sanction. Alternatively, an increased awareness of the personal value of information and having experienced a previous privacy violation encourage the protection of information and limited disclosure. Thus, this study provides insight into privacy and information disclosure on social media in South Africa. It reveals more insight into the cost-benefit analysis users conduct by combining the Theory of Planned Behaviour with the Privacy Calculus Model, as well as the antecedent factors of Trust in the Social Media Provider, FOMO, and Personal Valuation of Information.
- Full Text:
- Date Issued: 2021
- Authors: Parker, Heather Joubert
- Date: 2021
- Subjects: Social media -- Psychological aspects , Social media -- Psychological aspects -- South Africa , Human behavior , Disclosure of information -- Psychological aspects -- Case studies , Personal information management -- Psychological aspects -- Case studies , Data protection -- Psychologial aspects -- Case studies
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/172329 , vital:42189
- Description: Social media has revolutionized the way people send and receive information by creating a new level of interconnected communication. However, the use of the Internet and social media brings about various ways in which a user’s personal data can be put at risk. This study aims to investigate what drives the disclosure of personal information online and whether an increase in awareness of the value of personal information motivates users to safeguard their information. Fourteen university students participated in a mixed-methods experiment, where they completed a questionnaire before and after being shown the data stored about them by online platforms to determine if changes occur in their intention to disclose. Following completing the initial questionnaire, the participant viewed the personal data stored about them by Facebook, Google, and Instagram. Other online tools such as Social Profile Checker, Facebook View As, and HaveIBeenPawned were used to see the information publicly available about each participant. Together these findings were discussed in a semi-structured interview to determine the influence of attitudes, subjective norms, and awareness on the cost-benefit analysis users conduct when disclosing information online. Overall, the findings indicate that users are able to disregard their concerns due to a resigned and apathetic attitude towards privacy. Furthermore, subjective norms enhanced by FOMO further allow users to overlook potential risks to their information in order to avoid social isolation and sanction. Alternatively, an increased awareness of the personal value of information and having experienced a previous privacy violation encourage the protection of information and limited disclosure. Thus, this study provides insight into privacy and information disclosure on social media in South Africa. It reveals more insight into the cost-benefit analysis users conduct by combining the Theory of Planned Behaviour with the Privacy Calculus Model, as well as the antecedent factors of Trust in the Social Media Provider, FOMO, and Personal Valuation of Information.
- Full Text:
- Date Issued: 2021
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
Analysis of volatility spillover effects between the South African, regional and world equity markets
- Authors: Mumba, Mabvuto
- Date: 2011
- Subjects: Financial crises International finance Stocks -- Prices -- Africa Stocks -- Prices -- South Africa Capital market -- Africa Capital market -- South Africa Foreign exchange rates Africa -- Economic conditions South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:957 , http://hdl.handle.net/10962/d1002691
- Description: The current study examines the extent and magnitude by which global and regional shocks are transmitted to the volatility of returns in the stock markets of South Africa, Egypt, Nigeria, Botswana, Mauritius and Egypt. This is done so as to make inferences on the level of the domestic market‟s integration into the regional and world capital markets. By applying multivariate and univariate GARCH models, using weekly data from June 1995 to May 2010, the main empirical findings are threefold. Firstly, the volatility analytical framework finds statistically significant and time-varying volatility spillover effects from the regional and global markets to the South African market. Global shocks are generally stronger and account for up to 23.9 percent of the volatility of South Africa‟s equity market compared to weaker regional factors which account for less than 1 percent of domestic variance. Only in countries with strong bilateral trade and economic links with South Africa, such as Botswana and Namibia, is it found that regional factors are more dominant than global factors for domestic volatility. Compared to the other African markets, the joint influence of foreign shocks on domestic volatility is highest in South Africa and Egypt, two of Africa‟s largest and most developed markets. The results further demonstrate that for all the African markets the explanatory power of both regional and global factors for domestic volatility is not constant over time and tends to increase during turbulent market periods. Secondly, the analysis of the determinants of South frica‟s second moment linkages with the global market suggests that the volatility of the exchange rate plays a cardinal role in influencing the magnitude by which global shocks affect domestic volatility. The increased global integration in the second moments cannot be attributed to either increased trade integration, convergence in inflation rates or to convergence in interest rates between South Africa and the global markets. Lastly, tests were conducted to examine whether there have been contagion effects from the regional and global markets to South Africa from the 1997 Asian crisis and the 2007/8 global financial crisis. The results show no evidence of contagion during either the East Asian currency crisis or the recent global financial crisis to South Africa, while some African markets, such as Egypt, Mauritius and Botswana, exhibit contagion effects from either crisis. Overall, the empirical findings generally support the view that African markets are segmented both at the regional and global levels as domestic volatility is more influenced by local idiosyncratic shocks (the proportion not attributable to either global and regional factors). However, the volatility of South Africa, and to a lesser extent Egypt, remains relatively more open to global influence. This implies that the potential for gains from international portfolio diversification and the scope for success of policies aimed at the stabilisation of equity markets in these markets exist.
- Full Text:
- Date Issued: 2011
- Authors: Mumba, Mabvuto
- Date: 2011
- Subjects: Financial crises International finance Stocks -- Prices -- Africa Stocks -- Prices -- South Africa Capital market -- Africa Capital market -- South Africa Foreign exchange rates Africa -- Economic conditions South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:957 , http://hdl.handle.net/10962/d1002691
- Description: The current study examines the extent and magnitude by which global and regional shocks are transmitted to the volatility of returns in the stock markets of South Africa, Egypt, Nigeria, Botswana, Mauritius and Egypt. This is done so as to make inferences on the level of the domestic market‟s integration into the regional and world capital markets. By applying multivariate and univariate GARCH models, using weekly data from June 1995 to May 2010, the main empirical findings are threefold. Firstly, the volatility analytical framework finds statistically significant and time-varying volatility spillover effects from the regional and global markets to the South African market. Global shocks are generally stronger and account for up to 23.9 percent of the volatility of South Africa‟s equity market compared to weaker regional factors which account for less than 1 percent of domestic variance. Only in countries with strong bilateral trade and economic links with South Africa, such as Botswana and Namibia, is it found that regional factors are more dominant than global factors for domestic volatility. Compared to the other African markets, the joint influence of foreign shocks on domestic volatility is highest in South Africa and Egypt, two of Africa‟s largest and most developed markets. The results further demonstrate that for all the African markets the explanatory power of both regional and global factors for domestic volatility is not constant over time and tends to increase during turbulent market periods. Secondly, the analysis of the determinants of South frica‟s second moment linkages with the global market suggests that the volatility of the exchange rate plays a cardinal role in influencing the magnitude by which global shocks affect domestic volatility. The increased global integration in the second moments cannot be attributed to either increased trade integration, convergence in inflation rates or to convergence in interest rates between South Africa and the global markets. Lastly, tests were conducted to examine whether there have been contagion effects from the regional and global markets to South Africa from the 1997 Asian crisis and the 2007/8 global financial crisis. The results show no evidence of contagion during either the East Asian currency crisis or the recent global financial crisis to South Africa, while some African markets, such as Egypt, Mauritius and Botswana, exhibit contagion effects from either crisis. Overall, the empirical findings generally support the view that African markets are segmented both at the regional and global levels as domestic volatility is more influenced by local idiosyncratic shocks (the proportion not attributable to either global and regional factors). However, the volatility of South Africa, and to a lesser extent Egypt, remains relatively more open to global influence. This implies that the potential for gains from international portfolio diversification and the scope for success of policies aimed at the stabilisation of equity markets in these markets exist.
- Full Text:
- Date Issued: 2011
Angel networks as a business start-up financing option in South Africa
- Authors: Sibanda, Zenzo
- Date: 2011
- Subjects: Angels (Investors) -- South Africa Small business -- Finance -- South Africa New business enterprises -- Finance -- South Africa Venture capital -- South Africa Microfinance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1164 , http://hdl.handle.net/10962/d1002780
- Description: The following study is about business angels financing small business start-ups. It explores the aspect of starting up an entrepreneurial venture in which the entrepreneur seeks to secure start-up finance from lenders, raising the various issues that are known to characterise this engagement between the entrepreneur and the lender. Using the phenomenological paradigm, the study seeks to determine the awareness of small scale financing by entrepreneurs in South Africa, to determine the most commonly used source of start-up business funding in South Africa, to assess the extent to which business angel financing could be used to finance businesses in South Africa and to determine the factors impacting the use of business angel financing in South Africa. From these objectives, the study will also seek to determine the extent to which business angel networks could facilitate the financing of business start-ups. Small businesses invariably come up in different policy spheres as the main avenues to social and economic construction across national and regional lines. The importance of a successful business start up to a growing economy should not be underestimated. In line with this is the particular factor of gaining access to start up capital, which continues to emerge as a leading contributor to the success or failure of business start ups. Studies continue to verify that the most common challenge faced by most emerging entrepreneurs is start-up capital, either in the lack of this capital, the unfavourable conditions surrounding its availability, the lack of assets to serve as collateral for its use or the ambiguous flow of crucial information between lenders and providers of finance in the funding relationship (Abor and Biekpe, 2006: 69;Hernandez-Trillo, Pagan and Paxton, 2005: 435, ISPESE, 2005: 7, CDE, 2004: 5; Musengi 2003: 11). Roger Sorheim (2005: 179) refers to business angels as private individuals who offer risk capital to unlisted companies that are struggling to obtain start up capital to finance their business ideas. Business angels are further defined as high net-worth bearers of substantial private capital who predominantly invest in the early stage of high risk high potential return business ventures with a positive further growth potential. Business angel finance is typically a ‘once-off’ early stage form of small firm financing compared to the more frequent later stage venture capitalist funding. Studies show that business angels represent an underutilised wealth creation mechanism when it comes to small firm start-ups as most business angels contribute expertise in addition to finance to the start-ups they get involved in. This brings valuable business insight to the commercialisation of a good business idea. The business angel network exposes a range of potentially viable business prospects to willing investors by facilitating the flow of information about entrepreneurs and their businesses, thereby eliminating ambiguity, information asymmetry and transaction costs (Aernoudt and Erikson, 2002: 178; Van Osnabrugge and Robinson, 2000:374; Macht, 2006:1; Ehlrich, De Noble, Moore and Weaver, 1994:70; Sorheim, 2005:179). To achieve a holistic approach to a phenomenon which appears to be relatively new in South African business circles, the study will follow a qualitative approach in which two categories of populations will be used, one of small business operators and the other of business angels in South Africa. In the study, 20 small business operators and five business angels in Grahamstown will be approached using the convenience and snowballing sampling methods respectively. Face-to-face semi-structured interviews will be used as a data collection method and content analysis will be used as a data analysis tool (Collis and Hussey, 2003:156, Driver, Wood, Segal and Herrington, 2001:32, National Small Business Act ). There has been very limited research on business angels in the South African context, therefore the study would significantly contribute in entrepreneurship, government and small business development circles as it brings about attention to what the researcher predicts is an underutilised business start-up financing option.
- Full Text:
- Date Issued: 2011
- Authors: Sibanda, Zenzo
- Date: 2011
- Subjects: Angels (Investors) -- South Africa Small business -- Finance -- South Africa New business enterprises -- Finance -- South Africa Venture capital -- South Africa Microfinance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1164 , http://hdl.handle.net/10962/d1002780
- Description: The following study is about business angels financing small business start-ups. It explores the aspect of starting up an entrepreneurial venture in which the entrepreneur seeks to secure start-up finance from lenders, raising the various issues that are known to characterise this engagement between the entrepreneur and the lender. Using the phenomenological paradigm, the study seeks to determine the awareness of small scale financing by entrepreneurs in South Africa, to determine the most commonly used source of start-up business funding in South Africa, to assess the extent to which business angel financing could be used to finance businesses in South Africa and to determine the factors impacting the use of business angel financing in South Africa. From these objectives, the study will also seek to determine the extent to which business angel networks could facilitate the financing of business start-ups. Small businesses invariably come up in different policy spheres as the main avenues to social and economic construction across national and regional lines. The importance of a successful business start up to a growing economy should not be underestimated. In line with this is the particular factor of gaining access to start up capital, which continues to emerge as a leading contributor to the success or failure of business start ups. Studies continue to verify that the most common challenge faced by most emerging entrepreneurs is start-up capital, either in the lack of this capital, the unfavourable conditions surrounding its availability, the lack of assets to serve as collateral for its use or the ambiguous flow of crucial information between lenders and providers of finance in the funding relationship (Abor and Biekpe, 2006: 69;Hernandez-Trillo, Pagan and Paxton, 2005: 435, ISPESE, 2005: 7, CDE, 2004: 5; Musengi 2003: 11). Roger Sorheim (2005: 179) refers to business angels as private individuals who offer risk capital to unlisted companies that are struggling to obtain start up capital to finance their business ideas. Business angels are further defined as high net-worth bearers of substantial private capital who predominantly invest in the early stage of high risk high potential return business ventures with a positive further growth potential. Business angel finance is typically a ‘once-off’ early stage form of small firm financing compared to the more frequent later stage venture capitalist funding. Studies show that business angels represent an underutilised wealth creation mechanism when it comes to small firm start-ups as most business angels contribute expertise in addition to finance to the start-ups they get involved in. This brings valuable business insight to the commercialisation of a good business idea. The business angel network exposes a range of potentially viable business prospects to willing investors by facilitating the flow of information about entrepreneurs and their businesses, thereby eliminating ambiguity, information asymmetry and transaction costs (Aernoudt and Erikson, 2002: 178; Van Osnabrugge and Robinson, 2000:374; Macht, 2006:1; Ehlrich, De Noble, Moore and Weaver, 1994:70; Sorheim, 2005:179). To achieve a holistic approach to a phenomenon which appears to be relatively new in South African business circles, the study will follow a qualitative approach in which two categories of populations will be used, one of small business operators and the other of business angels in South Africa. In the study, 20 small business operators and five business angels in Grahamstown will be approached using the convenience and snowballing sampling methods respectively. Face-to-face semi-structured interviews will be used as a data collection method and content analysis will be used as a data analysis tool (Collis and Hussey, 2003:156, Driver, Wood, Segal and Herrington, 2001:32, National Small Business Act ). There has been very limited research on business angels in the South African context, therefore the study would significantly contribute in entrepreneurship, government and small business development circles as it brings about attention to what the researcher predicts is an underutilised business start-up financing option.
- Full Text:
- Date Issued: 2011
Applicability of the SERVQUAL instrument under South African conditions : an assessment of four situations
- Authors: Pitt, Leyland Frederick
- Date: 1992
- Subjects: SERVQUAL instrument , Customer service , Measurement , Service quality , South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1160 , http://hdl.handle.net/10962/d1001627
- Description: On-going research in recent years has shown quality of product and service, as perceived by customer, relative to competition, to be the single most important factor contributing to organizational well-being. Quality of product and service also presents one of the most significant opportunities for corporate differentiation. A major requirement for the successful management of quality is therefore effective measurement. In the case of physical goods, progress has been made over a long period. However, in the case of services, real advances have only occurred within the past decade. The importance of service quality is also highlighted by the fact that most businesses today are losing customers due to its inadequacy, rather than poor products. Indeed, from the customer's point of view, services and products probably do not exist in a dichotomy, but, rather, along a spectrum. Therefore, the measurement of service quality is critical, not only in traditional service organizations, but in manufacturing situations as well. The development of the SERVQUAL questionnaire in 1988, offered researchers, perhaps for the first time, an apparently reliable and valid instrument for the measurement of service quality. However, to date the instrument has not been subjected to rigorous testing for reliability and validity in South Africa, across a range of service organizations, within a typology. In this study, the SERVQUAL instrument was used to measure service quality across a range of firms within the Larsson-Bowen contingency framework, under South African conditions. Its main objectives were to assess its reliability and validity in these circumstances. It was found that SERVQUAL performed well across all organizations within the Larsson-Bowen framework, under South African conditions, with regard to reliability, convergent and nomological validity. Its construct validity proved to be less sound, and it was not found to possess discriminant validity. It is suggested that this is less attributable to South African circumstances than to the nature of the organizations. In cases of low diversity of demand, the instrument appears to capture the essence of service quality less effectively. Means of overcoming this in future studies are suggested, as well as other directions for research in the area of service quality measurement
- Full Text:
- Date Issued: 1992
- Authors: Pitt, Leyland Frederick
- Date: 1992
- Subjects: SERVQUAL instrument , Customer service , Measurement , Service quality , South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1160 , http://hdl.handle.net/10962/d1001627
- Description: On-going research in recent years has shown quality of product and service, as perceived by customer, relative to competition, to be the single most important factor contributing to organizational well-being. Quality of product and service also presents one of the most significant opportunities for corporate differentiation. A major requirement for the successful management of quality is therefore effective measurement. In the case of physical goods, progress has been made over a long period. However, in the case of services, real advances have only occurred within the past decade. The importance of service quality is also highlighted by the fact that most businesses today are losing customers due to its inadequacy, rather than poor products. Indeed, from the customer's point of view, services and products probably do not exist in a dichotomy, but, rather, along a spectrum. Therefore, the measurement of service quality is critical, not only in traditional service organizations, but in manufacturing situations as well. The development of the SERVQUAL questionnaire in 1988, offered researchers, perhaps for the first time, an apparently reliable and valid instrument for the measurement of service quality. However, to date the instrument has not been subjected to rigorous testing for reliability and validity in South Africa, across a range of service organizations, within a typology. In this study, the SERVQUAL instrument was used to measure service quality across a range of firms within the Larsson-Bowen contingency framework, under South African conditions. Its main objectives were to assess its reliability and validity in these circumstances. It was found that SERVQUAL performed well across all organizations within the Larsson-Bowen framework, under South African conditions, with regard to reliability, convergent and nomological validity. Its construct validity proved to be less sound, and it was not found to possess discriminant validity. It is suggested that this is less attributable to South African circumstances than to the nature of the organizations. In cases of low diversity of demand, the instrument appears to capture the essence of service quality less effectively. Means of overcoming this in future studies are suggested, as well as other directions for research in the area of service quality measurement
- Full Text:
- Date Issued: 1992
Aspects of the theory of human capital and its application to South African economic development
- Authors: Bates, Terrence
- Date: 1974
- Subjects: Human capital -- South Africa , South Africa -- Economic conditions -- 1961-1991
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1064 , http://hdl.handle.net/10962/d1007608 , Human capital -- South Africa , South Africa -- Economic conditions -- 1961-1991
- Description: Human capital is an important economic concept. The significance of human resource development, in the form of both education and health, has long been realised and was stressed even in the writings of the early economists. Introduction, p.1
- Full Text:
- Date Issued: 1974
- Authors: Bates, Terrence
- Date: 1974
- Subjects: Human capital -- South Africa , South Africa -- Economic conditions -- 1961-1991
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1064 , http://hdl.handle.net/10962/d1007608 , Human capital -- South Africa , South Africa -- Economic conditions -- 1961-1991
- Description: Human capital is an important economic concept. The significance of human resource development, in the form of both education and health, has long been realised and was stressed even in the writings of the early economists. Introduction, p.1
- Full Text:
- Date Issued: 1974
Assessing the value of public investment into biological control research for invasive alien plants : the ARC PPRI Weeds Research Division
- Authors: Scarr, Lowell Martin
- Date: 2016
- Subjects: Alien plants -- Biological control , Invasive plants -- Biological control , Alien plants -- Economic aspects , Invasive plants -- Economic aspects , Weeds -- Biological control
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1126 , http://hdl.handle.net/10962/d1020604
- Description: This study investigates the economic impact of the ARC PPRI Weeds Research Division. The Division researches appropriate methods of biological control for invasive alien plants (IAPs). These plants pose an increasing threat to environmental integrity and ecosystem service provision impacting on economic potential. Since the work of the Division is considered a public good, a predominantly descriptive approach has been adopted for the valuation process. A combination of quantitative cost analysis and a qualitative study of the impacts of research and invasive alien plants is used to deal with the challenges associated with non-market valuation. The study found that investment into the Weeds Division is a valuable activity that supports the long-term growth potential of the South African economy. The role of a well-functioning environment is highlighted as an essential base for the creation of sustained growth opportunities in any society. It was determined that investment into the Division should be increased into the future to support efficient spending of scarce state funds. Biological control research was found to provide strategic future growth potential, creating opportunities for the development of a competitive advantage in the biotechnology and environmental management sectors. The study adds to the increasing move towards a more holistic view of economic valuation, taking factors other than pure finance and econometrics into consideration. This is an important shift in prevailing economic thought, as a realisation is reached that a single, or even triple, bottom line is an outdated and insufficient decision making basis.
- Full Text:
- Date Issued: 2016
- Authors: Scarr, Lowell Martin
- Date: 2016
- Subjects: Alien plants -- Biological control , Invasive plants -- Biological control , Alien plants -- Economic aspects , Invasive plants -- Economic aspects , Weeds -- Biological control
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1126 , http://hdl.handle.net/10962/d1020604
- Description: This study investigates the economic impact of the ARC PPRI Weeds Research Division. The Division researches appropriate methods of biological control for invasive alien plants (IAPs). These plants pose an increasing threat to environmental integrity and ecosystem service provision impacting on economic potential. Since the work of the Division is considered a public good, a predominantly descriptive approach has been adopted for the valuation process. A combination of quantitative cost analysis and a qualitative study of the impacts of research and invasive alien plants is used to deal with the challenges associated with non-market valuation. The study found that investment into the Weeds Division is a valuable activity that supports the long-term growth potential of the South African economy. The role of a well-functioning environment is highlighted as an essential base for the creation of sustained growth opportunities in any society. It was determined that investment into the Division should be increased into the future to support efficient spending of scarce state funds. Biological control research was found to provide strategic future growth potential, creating opportunities for the development of a competitive advantage in the biotechnology and environmental management sectors. The study adds to the increasing move towards a more holistic view of economic valuation, taking factors other than pure finance and econometrics into consideration. This is an important shift in prevailing economic thought, as a realisation is reached that a single, or even triple, bottom line is an outdated and insufficient decision making basis.
- Full Text:
- Date Issued: 2016
Asset prices and inflation-targeting : implications for South Africa
- Authors: Cosser, Leigh Emma
- Date: 2005
- Subjects: South African Reserve Bank , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , South Africa -- Economic policy , Banks and banking, Central -- South Africa , Anti-inflationary policies , Monetary policy -- Japan , Monetary policy -- United States
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1127 , http://hdl.handle.net/10962/d1020849
- Description: An analysis of the current monetary policy framework in South Africa, which followed the exampie of a number of developed countries by implementing an inflation-targeting regime in 2000, is presented. The primary goal of the framework is to establish price stability, with financial stability a secondary objective. However, as has been evident in other countries, price stability does not guarantee financial stability. Movements in asset prices and the development of asset price bubbles have resulted in a number of episodes of financial instability, which negatively impacted on the growth and development of the countries involved. In addition, the majority of these episodes have occurred in periods of low and stable inflation. The dissertation analyses whether monetary policy would be more efficient if asset price movements were incorporated within the inflation-targeting regime. International experience indicates that early intervention of monetary policy can dampen the negative effects that result when an asset price bubble "bursts". However, if the monetary authorities act too early the effects on the economy can be just as disruptive. The literature is scrutinized to establish what the most effective form of monetary policy should be. The results are then transposed within the South African context to establish how the South African Reserve Bank can best ensure both price and financial stability.
- Full Text:
- Date Issued: 2005
- Authors: Cosser, Leigh Emma
- Date: 2005
- Subjects: South African Reserve Bank , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , South Africa -- Economic policy , Banks and banking, Central -- South Africa , Anti-inflationary policies , Monetary policy -- Japan , Monetary policy -- United States
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1127 , http://hdl.handle.net/10962/d1020849
- Description: An analysis of the current monetary policy framework in South Africa, which followed the exampie of a number of developed countries by implementing an inflation-targeting regime in 2000, is presented. The primary goal of the framework is to establish price stability, with financial stability a secondary objective. However, as has been evident in other countries, price stability does not guarantee financial stability. Movements in asset prices and the development of asset price bubbles have resulted in a number of episodes of financial instability, which negatively impacted on the growth and development of the countries involved. In addition, the majority of these episodes have occurred in periods of low and stable inflation. The dissertation analyses whether monetary policy would be more efficient if asset price movements were incorporated within the inflation-targeting regime. International experience indicates that early intervention of monetary policy can dampen the negative effects that result when an asset price bubble "bursts". However, if the monetary authorities act too early the effects on the economy can be just as disruptive. The literature is scrutinized to establish what the most effective form of monetary policy should be. The results are then transposed within the South African context to establish how the South African Reserve Bank can best ensure both price and financial stability.
- Full Text:
- Date Issued: 2005
Asymmetric price transmission: an empirical analysis of the relationship between UG-2 chrome ore, charge chrome, nickel and Chinese domestic 304 stainless steel cold rolled coil
- Authors: Le Roux, Simon Petrus
- Date: 2021
- Subjects: Pricing , Chromium ores -- Prices -- South Africa , Nickel -- Prices -- South Africa , Austenitic stainless steel-- Prices -- China , Steel -- Prices -- South Africa , Non-Linear Autoregressive Distributive Lag (NARDL)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/171336 , vital:42049
- Description: The goal of this study was to determine whether asymmetric price transmission (APT) exists between the prices of South African UG-2 Chrome ore, Charge Chrome, Nickel and Chinese Domestic 304 Stainless steel Cold Rolled Coil prices. Monthly time series data for the period January 2009 to July 2019 was analysed. The Non-Linear Autoregressive Distributive Lag (NARDL) model was applied to test for the presence of price asymmetry between the four variables. Firstly, it was observed that the four variables are cointegrated in the long-run. Secondly, no evidence of price asymmetry was found to be present within the Stainless steel supply chain. The reason for this is most likely due to the extremely close-knit and highly concentrated nature of this industry at each level within the supply chain. The industry can be very opaque to external observers even though the distribution of pricing information is very efficient for participants within the industry.
- Full Text:
- Date Issued: 2021
- Authors: Le Roux, Simon Petrus
- Date: 2021
- Subjects: Pricing , Chromium ores -- Prices -- South Africa , Nickel -- Prices -- South Africa , Austenitic stainless steel-- Prices -- China , Steel -- Prices -- South Africa , Non-Linear Autoregressive Distributive Lag (NARDL)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/171336 , vital:42049
- Description: The goal of this study was to determine whether asymmetric price transmission (APT) exists between the prices of South African UG-2 Chrome ore, Charge Chrome, Nickel and Chinese Domestic 304 Stainless steel Cold Rolled Coil prices. Monthly time series data for the period January 2009 to July 2019 was analysed. The Non-Linear Autoregressive Distributive Lag (NARDL) model was applied to test for the presence of price asymmetry between the four variables. Firstly, it was observed that the four variables are cointegrated in the long-run. Secondly, no evidence of price asymmetry was found to be present within the Stainless steel supply chain. The reason for this is most likely due to the extremely close-knit and highly concentrated nature of this industry at each level within the supply chain. The industry can be very opaque to external observers even though the distribution of pricing information is very efficient for participants within the industry.
- Full Text:
- Date Issued: 2021
Attitudes and perceptions towards TB in Grahamstown East in a time of HIV/AIDS
- Authors: Ndoro, Tinashe T. R
- Date: 2009
- Subjects: Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3030 , http://hdl.handle.net/10962/d1002539 , Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Description: Tuberculosis (TB) has become a serious South African health problem because it is the most common opportunistic disease that leads to death in people with HIV/AIDS. Due to the airborne nature of the disease it can easily be spread to anyone including healthy people. A lack of compliance to treatment by TB patients explains why prevalence rates of the disease are high and why there is an emergence of drug resistant strains such as XDR-TB and MDR-TB. Information on existing knowledge, attitudes and perceptions regarding TB can provide a crucial foundation for the development of educational programmes and interventions aimed at reducing the further spread of the disease. This study aimed at understanding the knowledge, attitudes and perceptions towards TB and relating these to the current prevalence of HIV/AIDS. A face-to-face interview survey was conducted among adult Grahamstown East residents (n=1020). The Health Belief Model (Rosenstock et al., 1994) and Bandura’s (1986) Social Cognitive Theory formed the theoretical framework of the data collection and analysis. The data generated from the field work was first descriptively analysed providing frequency tables. Thereafter cross tabulations were calculated for relevant items using independent variables, namely gender, level of education, and experience of dealing with TB. The results of the study show that, in general, knowledge concerning TB was sufficient to provide a foundation for the adoption of healthier behaviours in the female respondents. Few of the respondents reported feeling personally susceptible although the majority of the respondents acknowledged the severity of the disease. The cues to action lacked the influence to persuade people to adopt positive health related behaviours. The perceived benefits of adopting preventative behaviour were not very influential in the adoption of healthier behavioural changes in the respondents. Disease stigma regarding the dual association of TB and HIV/AIDS was the main barrier for the adoption of healthier behavioural attitudes. Perceived self-efficacy in preventative behaviours was generally low in the less educated respondents. Recommendations regarding areas for future research and change interventions are provided.
- Full Text:
- Date Issued: 2009
- Authors: Ndoro, Tinashe T. R
- Date: 2009
- Subjects: Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3030 , http://hdl.handle.net/10962/d1002539 , Tuberculosis -- South Africa -- Grahamstown , AIDS (Disease) -- Social aspects -- South Africa -- Grahamstown , HIV (Viruses) -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Social aspects -- South Africa -- Grahamstown , Tuberculosis -- Prevention -- South Africa -- Grahamstown , AIDS (Disease) -- South Africa -- Grahamstown -- Public opinion , Tuberculosis -- South Africa -- Grahamstown -- Public opinion , Health surveys -- South Africa -- Grahamstown
- Description: Tuberculosis (TB) has become a serious South African health problem because it is the most common opportunistic disease that leads to death in people with HIV/AIDS. Due to the airborne nature of the disease it can easily be spread to anyone including healthy people. A lack of compliance to treatment by TB patients explains why prevalence rates of the disease are high and why there is an emergence of drug resistant strains such as XDR-TB and MDR-TB. Information on existing knowledge, attitudes and perceptions regarding TB can provide a crucial foundation for the development of educational programmes and interventions aimed at reducing the further spread of the disease. This study aimed at understanding the knowledge, attitudes and perceptions towards TB and relating these to the current prevalence of HIV/AIDS. A face-to-face interview survey was conducted among adult Grahamstown East residents (n=1020). The Health Belief Model (Rosenstock et al., 1994) and Bandura’s (1986) Social Cognitive Theory formed the theoretical framework of the data collection and analysis. The data generated from the field work was first descriptively analysed providing frequency tables. Thereafter cross tabulations were calculated for relevant items using independent variables, namely gender, level of education, and experience of dealing with TB. The results of the study show that, in general, knowledge concerning TB was sufficient to provide a foundation for the adoption of healthier behaviours in the female respondents. Few of the respondents reported feeling personally susceptible although the majority of the respondents acknowledged the severity of the disease. The cues to action lacked the influence to persuade people to adopt positive health related behaviours. The perceived benefits of adopting preventative behaviour were not very influential in the adoption of healthier behavioural changes in the respondents. Disease stigma regarding the dual association of TB and HIV/AIDS was the main barrier for the adoption of healthier behavioural attitudes. Perceived self-efficacy in preventative behaviours was generally low in the less educated respondents. Recommendations regarding areas for future research and change interventions are provided.
- Full Text:
- Date Issued: 2009
Attitudes to affirmative action and the perceived impact of affirmative action programmes in the South African business environment : a comparative study based on race and gender
- Authors: Wright, Sarah-Ann L
- Date: 1994
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3250 , http://hdl.handle.net/10962/d1015715
- Description: Affirmative action is a sensitive and controversial topic evoking a host of emotional reactions regarding tokenism, reverse discrimination, lowering of standards, quota systems and a disregard for meritocracy (Gatherer & Erikson, 1992). It is also a topic receiving considerable attention in the context of a changing South Africa and will be one of the first steps taken in the labour arena under a new government (Charoux, 1991 ). The goals of the research were firstly, to detail and compare the attitudes of men and women, black and white to affirmative action and secondly, to examine the perceived impact of an affirmative action programme on beneficiaries as well as non-beneficiaries. The research was of a quantitative and qualitative nature, so as to provide the scope and depth desired in such an investigation. A survey was conducted using the data collection techniques of a mail questionnaire (quantitative focus) and individual in-depth interviews (qualitative focus). A pilot study was conducted. The majority of the questions in the questionnaire conformed to the conventions of the Likert Scale (Oppenheim, 1992) and data was analysed using percentile frequencies. Data from the interviews was analysed using the qualitative methods of noting themes and patterns, and clustering as proposed by Miles and Hubem1an (1984). The research was conducted in one large organisation in the infomation services industry, situated in the PWV area. Four key sample groups of white men, white women, black men and black women were used. The results of the research indicate that respondents perceive affirmative action as a policy to primarily address the educational disadvantages of black people in South Africa. Initial attitudes to affirmative action reflected a negative orientation amongst whites but a positive orientation amongst blacks. However, probing into the issues indicated that whilst there is an acceptance of the philosophy of and the need for affirmative action for black people, disagreement existed over which implementation methods of affirmative action (preferential treatment and quota systems) were acceptable and at what interfaces (hiring, training and development, promotion), implementation was acceptable. Attitudes on these various issues were often not divided along racial or gender lines and considerable divergence of attitudes also existed within the sample groups. Gender in affirmative action received less consideration by all four sample groups. Results also indicate that beneficiaries of affirmative action do not perceive affirmative action policies and programmes as stigmatising or negatively affecting their self-esteem. Nonbeneficiaries communicated that affirmative action could result in white resentment if blacks benefit at the expense of whites. Low levels of resentment were evident in the research. The organisation's affirmative action programme was seen to be ineffective due to the lack of communication about the programme, no evidence of its progress in terms of significant representation of blacks at senior levels in company XXX and the inequities that were seen to be still pervading the organisation.
- Full Text:
- Date Issued: 1994
- Authors: Wright, Sarah-Ann L
- Date: 1994
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:3250 , http://hdl.handle.net/10962/d1015715
- Description: Affirmative action is a sensitive and controversial topic evoking a host of emotional reactions regarding tokenism, reverse discrimination, lowering of standards, quota systems and a disregard for meritocracy (Gatherer & Erikson, 1992). It is also a topic receiving considerable attention in the context of a changing South Africa and will be one of the first steps taken in the labour arena under a new government (Charoux, 1991 ). The goals of the research were firstly, to detail and compare the attitudes of men and women, black and white to affirmative action and secondly, to examine the perceived impact of an affirmative action programme on beneficiaries as well as non-beneficiaries. The research was of a quantitative and qualitative nature, so as to provide the scope and depth desired in such an investigation. A survey was conducted using the data collection techniques of a mail questionnaire (quantitative focus) and individual in-depth interviews (qualitative focus). A pilot study was conducted. The majority of the questions in the questionnaire conformed to the conventions of the Likert Scale (Oppenheim, 1992) and data was analysed using percentile frequencies. Data from the interviews was analysed using the qualitative methods of noting themes and patterns, and clustering as proposed by Miles and Hubem1an (1984). The research was conducted in one large organisation in the infomation services industry, situated in the PWV area. Four key sample groups of white men, white women, black men and black women were used. The results of the research indicate that respondents perceive affirmative action as a policy to primarily address the educational disadvantages of black people in South Africa. Initial attitudes to affirmative action reflected a negative orientation amongst whites but a positive orientation amongst blacks. However, probing into the issues indicated that whilst there is an acceptance of the philosophy of and the need for affirmative action for black people, disagreement existed over which implementation methods of affirmative action (preferential treatment and quota systems) were acceptable and at what interfaces (hiring, training and development, promotion), implementation was acceptable. Attitudes on these various issues were often not divided along racial or gender lines and considerable divergence of attitudes also existed within the sample groups. Gender in affirmative action received less consideration by all four sample groups. Results also indicate that beneficiaries of affirmative action do not perceive affirmative action policies and programmes as stigmatising or negatively affecting their self-esteem. Nonbeneficiaries communicated that affirmative action could result in white resentment if blacks benefit at the expense of whites. Low levels of resentment were evident in the research. The organisation's affirmative action programme was seen to be ineffective due to the lack of communication about the programme, no evidence of its progress in terms of significant representation of blacks at senior levels in company XXX and the inequities that were seen to be still pervading the organisation.
- Full Text:
- Date Issued: 1994
Bank credit extension to the private sector and inflation in South Africa
- Authors: Dlamini, Samuel Nkosinathi
- Date: 2009
- Subjects: Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:959 , http://hdl.handle.net/10962/d1002693 , Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Description: This study investigates the contribution of bank credit extension to the private sector to inflation in South Africa, covering the period 1970:1-2006:4. The long-run impact of bank credit on inflation is investigated by means of the Johansen co integration model. The short-run ynamics of the inflation is subsequently modelled by means of the Vector Error Correction Model (VECM). Using the Johansen methodology, the study identifies two co integrating equations linking inflation and its eterminants. The results suggest that the long-run relationship between inflation and bank credit to the private sector is negative and statistically significant at 10% level. The determinants that are significant at 5% level are: money supply, real gross domestic product, the money market rate, rand/dollar exchange rate and imports. The results are consistent with previous findings. The speed of adjustment in response to deviation from the equilibrium path was found to be negative at 10.56% per quarter, which is consistent with findings by Ohnsorge and Oomes (2003) for Russia. Both the signs and the magnitude of the coefficients suggest that the co integrating vector describes a long-run inflation equation. The impulse response functions confirm the theoretical expectations except for the import prices. The most persistent and significant shocks observed are on impulse response functions of money supply and bank credit to the private sector. The variance decomposition results also suggest that inflation responds quicker to innovations from money supply and the money market rate. The overall results provide evidence that the surge in inflation is associated with an increase in money supply as well as the instability in exchange rate. The effects of exchange rate fluctuation on inflation are reflected through changes in import prices. Based on the results we conclude that an increase in bank credit during the period 1970:1-2006:4 had a negative mpact on inflation in South Africa.
- Full Text:
- Date Issued: 2009
- Authors: Dlamini, Samuel Nkosinathi
- Date: 2009
- Subjects: Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:959 , http://hdl.handle.net/10962/d1002693 , Bank loans -- South Africa , Inflation (Finance) -- South Africa , Money supply -- South Africa , Interest rates -- South Africa , Banks and banking -- South Africa , Foreign exchange rates -- South Africa
- Description: This study investigates the contribution of bank credit extension to the private sector to inflation in South Africa, covering the period 1970:1-2006:4. The long-run impact of bank credit on inflation is investigated by means of the Johansen co integration model. The short-run ynamics of the inflation is subsequently modelled by means of the Vector Error Correction Model (VECM). Using the Johansen methodology, the study identifies two co integrating equations linking inflation and its eterminants. The results suggest that the long-run relationship between inflation and bank credit to the private sector is negative and statistically significant at 10% level. The determinants that are significant at 5% level are: money supply, real gross domestic product, the money market rate, rand/dollar exchange rate and imports. The results are consistent with previous findings. The speed of adjustment in response to deviation from the equilibrium path was found to be negative at 10.56% per quarter, which is consistent with findings by Ohnsorge and Oomes (2003) for Russia. Both the signs and the magnitude of the coefficients suggest that the co integrating vector describes a long-run inflation equation. The impulse response functions confirm the theoretical expectations except for the import prices. The most persistent and significant shocks observed are on impulse response functions of money supply and bank credit to the private sector. The variance decomposition results also suggest that inflation responds quicker to innovations from money supply and the money market rate. The overall results provide evidence that the surge in inflation is associated with an increase in money supply as well as the instability in exchange rate. The effects of exchange rate fluctuation on inflation are reflected through changes in import prices. Based on the results we conclude that an increase in bank credit during the period 1970:1-2006:4 had a negative mpact on inflation in South Africa.
- Full Text:
- Date Issued: 2009
Base erosion and profit shifting by multinational corporations and weaknesses revealed in South African income tax legislation
- Authors: Peerbhai, Aneesa
- Date: 2015
- Subjects: International business enterprises -- Law and legislation -- South Africa , Corporations -- Taxation -- Law and legislation -- South Africa , Tax planning -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:917 , http://hdl.handle.net/10962/d1017540
- Description: This research examined the concept of base erosion and profit shifting in the context of tax schemes employed by multinational corporations. The objective of this thesis was to identify weaknesses within South Africa’s income tax legislation, based on these schemes, and further to propose recommendations to counter the occurrence of base erosion and profit shifting by multinational companies. The research also comprised of a limited review of current global and South African initiatives to address the problem of base erosion and profit shifting. It was concluded that there are a number of weaknesses in the definitions and provisions of the South African income tax legislation that need to be addressed in order to reduce base erosion and profit shifting. Brief recommendations were proposed in relation to each of the weaknesses, in order to address them.
- Full Text:
- Date Issued: 2015
- Authors: Peerbhai, Aneesa
- Date: 2015
- Subjects: International business enterprises -- Law and legislation -- South Africa , Corporations -- Taxation -- Law and legislation -- South Africa , Tax planning -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:917 , http://hdl.handle.net/10962/d1017540
- Description: This research examined the concept of base erosion and profit shifting in the context of tax schemes employed by multinational corporations. The objective of this thesis was to identify weaknesses within South Africa’s income tax legislation, based on these schemes, and further to propose recommendations to counter the occurrence of base erosion and profit shifting by multinational companies. The research also comprised of a limited review of current global and South African initiatives to address the problem of base erosion and profit shifting. It was concluded that there are a number of weaknesses in the definitions and provisions of the South African income tax legislation that need to be addressed in order to reduce base erosion and profit shifting. Brief recommendations were proposed in relation to each of the weaknesses, in order to address them.
- Full Text:
- Date Issued: 2015
Bayesian logistic regression models for credit scoring
- Authors: Webster, Gregg
- Date: 2011
- Subjects: Bayesian statistical decision theory Credit scoring systems Regression analysis Logistic regression analysis Monte Carlo method Markov processes Financial institutions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:5574 , http://hdl.handle.net/10962/d1005538
- Description: The Bayesian approach to logistic regression modelling for credit scoring is useful when there are data quantity issues. Data quantity issues might occur when a bank is opening in a new location or there is change in the scoring procedure. Making use of prior information (available from the coefficients estimated on other data sets, or expert knowledge about the coefficients) a Bayesian approach is proposed to improve the credit scoring models. To achieve this, a data set is split into two sets, “old” data and “new” data. Priors are obtained from a model fitted on the “old” data. This model is assumed to be a scoring model used by a financial institution in the current location. The financial institution is then assumed to expand into a new economic location where there is limited data. The priors from the model on the “old” data are then combined in a Bayesian model with the “new” data to obtain a model which represents all the available information. The predictive performance of this Bayesian model is compared to a model which does not make use of any prior information. It is found that the use of relevant prior information improves the predictive performance when the size of the “new” data is small. As the size of the “new” data increases, the importance of including prior information decreases
- Full Text:
- Date Issued: 2011
- Authors: Webster, Gregg
- Date: 2011
- Subjects: Bayesian statistical decision theory Credit scoring systems Regression analysis Logistic regression analysis Monte Carlo method Markov processes Financial institutions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:5574 , http://hdl.handle.net/10962/d1005538
- Description: The Bayesian approach to logistic regression modelling for credit scoring is useful when there are data quantity issues. Data quantity issues might occur when a bank is opening in a new location or there is change in the scoring procedure. Making use of prior information (available from the coefficients estimated on other data sets, or expert knowledge about the coefficients) a Bayesian approach is proposed to improve the credit scoring models. To achieve this, a data set is split into two sets, “old” data and “new” data. Priors are obtained from a model fitted on the “old” data. This model is assumed to be a scoring model used by a financial institution in the current location. The financial institution is then assumed to expand into a new economic location where there is limited data. The priors from the model on the “old” data are then combined in a Bayesian model with the “new” data to obtain a model which represents all the available information. The predictive performance of this Bayesian model is compared to a model which does not make use of any prior information. It is found that the use of relevant prior information improves the predictive performance when the size of the “new” data is small. As the size of the “new” data increases, the importance of including prior information decreases
- Full Text:
- Date Issued: 2011
Bond market development in emerging economies: a case study of the Bond Exchange of South Africa (BESA)
- Authors: Hove, Tagara
- Date: 2009
- Subjects: Bond Exchange of South Africa , Bond market -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:961 , http://hdl.handle.net/10962/d1002695 , Bond Exchange of South Africa , Bond market -- South Africa , Foreign exchange rates -- South Africa
- Description: This study looks at the development of bond markets in emerging economies and focuses on the development of the Bond Exchange of South Africa (BESA). It explores the history, structure, performance and key issues related to the development of this market within the broader context of domestic, regional and global bond market development. BESA's experience provides valuable lessons for other emerging market economies also seeking to build bond markets. The sophistication of the local bond market is not enough to make it appealing to foreign borrowers. Market development demands an enabling market infrastructure and a background of macroeconomic stability, diversified market participants, deregulation of capital flows and an appropriate regulatory and supervisory environment.
- Full Text:
- Date Issued: 2009
- Authors: Hove, Tagara
- Date: 2009
- Subjects: Bond Exchange of South Africa , Bond market -- South Africa , Foreign exchange rates -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:961 , http://hdl.handle.net/10962/d1002695 , Bond Exchange of South Africa , Bond market -- South Africa , Foreign exchange rates -- South Africa
- Description: This study looks at the development of bond markets in emerging economies and focuses on the development of the Bond Exchange of South Africa (BESA). It explores the history, structure, performance and key issues related to the development of this market within the broader context of domestic, regional and global bond market development. BESA's experience provides valuable lessons for other emerging market economies also seeking to build bond markets. The sophistication of the local bond market is not enough to make it appealing to foreign borrowers. Market development demands an enabling market infrastructure and a background of macroeconomic stability, diversified market participants, deregulation of capital flows and an appropriate regulatory and supervisory environment.
- Full Text:
- Date Issued: 2009
Building cultural capital through value-driven leadership: a case study in an international finance company
- Authors: Ackerman, Mariana
- Date: 2006
- Subjects: Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:2919 , http://hdl.handle.net/10962/d1002428 , Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Description: Today, organizations are placed under extreme pressure to adapt to the ever-increasing changes in their environments in order to survive. Research proves that corporate culture has the ability to either blunt or aid change. Past research conducted in Z-Nam, a subsidiary of an international finance company situated in Namibia, indicated that a divided culture resulted in limitations in their functioning, including their adaptability. Pressure was placed on Z-Nam by its majority shareholder to internalise a set of core values into its daily functioning in order to build a strong adaptable culture. This objective called for values-driven leadership. The four core values identified by Head Office were integrity, respect, accountability and pushing beyond boundaries. In becoming more values-driven, values theory posits that Z-Nam will build its cultural capital and so reap the benefits of higher performance, talent retention and adaptability. In this way Z-Nam will be able to combat the weaknesses in its current culture. Leadership adaptability and the capacity to lead change were seen to distinguish cultural changes that succeed from those that do not. Principles inherent in the field of OD were also considered, as they are seen to assist in the effective management of change. The methodology involved a purposive sample being drawn that included the top leadership team and internal OD consultant. Semi-structured interviews were conducted and thematic analysis employed in analysing the resultant data with three main aims in mind. Firstly, to assess Z-Nam's top management's perception of the current set of values being lived in the organization, to establish their level of support for the desired set of values proposed by Head Office and lastly to establish whether the leadership team is ready to promote the adoption of a new set of core values. Through comparing the themes that emerged from the data with literature on OD, values, culture and change, the researcher was able to make inferences as to the leadership's readiness and capacity to successfully lead cultural change. These findings were substantiated with secondary data from previous research activities. It was found that Z-Nam was not utilising its culture as an asset and that several barriers existed to adopting and implementing the desired values. It was concluded that Z-Nam will not be able to successfully embark on cultural change until its leadership recognises the importance of culture and their personal responsibility in bringing about the desired change, adequately assimilates information from past research and comes to a consensus as to the necessary accommodations that need to be made.
- Full Text:
- Date Issued: 2006
- Authors: Ackerman, Mariana
- Date: 2006
- Subjects: Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:2919 , http://hdl.handle.net/10962/d1002428 , Financial institutions, International -- Namibia Case studies , Leadership -- Namibia Case studies , Corporate culture -- Namibia Case studies , Organizational change -- Namibia Case studies , Organizational effectiveness -- Namibia Case studies
- Description: Today, organizations are placed under extreme pressure to adapt to the ever-increasing changes in their environments in order to survive. Research proves that corporate culture has the ability to either blunt or aid change. Past research conducted in Z-Nam, a subsidiary of an international finance company situated in Namibia, indicated that a divided culture resulted in limitations in their functioning, including their adaptability. Pressure was placed on Z-Nam by its majority shareholder to internalise a set of core values into its daily functioning in order to build a strong adaptable culture. This objective called for values-driven leadership. The four core values identified by Head Office were integrity, respect, accountability and pushing beyond boundaries. In becoming more values-driven, values theory posits that Z-Nam will build its cultural capital and so reap the benefits of higher performance, talent retention and adaptability. In this way Z-Nam will be able to combat the weaknesses in its current culture. Leadership adaptability and the capacity to lead change were seen to distinguish cultural changes that succeed from those that do not. Principles inherent in the field of OD were also considered, as they are seen to assist in the effective management of change. The methodology involved a purposive sample being drawn that included the top leadership team and internal OD consultant. Semi-structured interviews were conducted and thematic analysis employed in analysing the resultant data with three main aims in mind. Firstly, to assess Z-Nam's top management's perception of the current set of values being lived in the organization, to establish their level of support for the desired set of values proposed by Head Office and lastly to establish whether the leadership team is ready to promote the adoption of a new set of core values. Through comparing the themes that emerged from the data with literature on OD, values, culture and change, the researcher was able to make inferences as to the leadership's readiness and capacity to successfully lead cultural change. These findings were substantiated with secondary data from previous research activities. It was found that Z-Nam was not utilising its culture as an asset and that several barriers existed to adopting and implementing the desired values. It was concluded that Z-Nam will not be able to successfully embark on cultural change until its leadership recognises the importance of culture and their personal responsibility in bringing about the desired change, adequately assimilates information from past research and comes to a consensus as to the necessary accommodations that need to be made.
- Full Text:
- Date Issued: 2006