An analysis of exchange rate pass-through to prices in South Africa
- Authors: Karoro, Tapiwa Daniel
- Date: 2008
- Subjects: Foreign exchange rates -- South Africa , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , Prices -- South Africa , Banks and banking -- South Africa , South Africa -- Economic policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:953 , http://hdl.handle.net/10962/d1002687 , Foreign exchange rates -- South Africa , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , Prices -- South Africa , Banks and banking -- South Africa , South Africa -- Economic policy
- Description: The fact that South Africa has a floating exchange rate policy as well as an open trade policy leaves the country’s import, producer and consumer prices susceptible to the effects of exchange rate movements. Given the central role that inflation targeting occupies in South Africa’s monetary policy, it becomes necessary to determine the nature of influence of exchange rate changes on domestic prices. To this end, this thesis examines the magnitude and speed of exchange rate pass-through (ERPT) to import, producer and consumer prices in South Africa. Furthermore, it explores whether the direction and size of changes in the exchange rate have different pass-through effects on import prices, that is, whether the exchange rate pass-through is symmetric or asymmetric. The paper uses monthly data covering the period January 1980 to December 2005. In investigating ERPT, two main stages are identified. The initial stage is the transmission of fluctuations in the exchange rate to import prices, while the second-stage entails the pass-through of changes in import prices to producer and consumer prices. The first stage is estimated using the Johansen (1991) and (1995) cointegration techniques and a vector error correction model (VECM). The second stage pass-through is determined by estimating impulse response and variance decomposition functions, as well as conducting block exogeneity Wald tests. The study follows Wickremasinghe and Silvapulle’s (2004) approach in estimating pass-through asymmetry with respect to appreciations and depreciations. In addition, the thesis adapts the analytical framework of Wickremasinghe and Silvapulle (2004) to investigate the pass-through of large and small changes in the exchange rate to import prices. The results suggest that ERPT in South Africa is incomplete but relatively high. Furthermore, ERPT is found to be higher in periods of rand depreciation than appreciation which supports the binding quantity constraint theory. There is also some evidence that pass-through is higher in periods of small changes than large changes in the exchange rate, which supports the menu cost theory when invoices are denominated in the exporters’ currency.
- Full Text:
- Date Issued: 2008
- Authors: Karoro, Tapiwa Daniel
- Date: 2008
- Subjects: Foreign exchange rates -- South Africa , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , Prices -- South Africa , Banks and banking -- South Africa , South Africa -- Economic policy
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:953 , http://hdl.handle.net/10962/d1002687 , Foreign exchange rates -- South Africa , Monetary policy -- South Africa , Inflation (Finance) -- South Africa , Prices -- South Africa , Banks and banking -- South Africa , South Africa -- Economic policy
- Description: The fact that South Africa has a floating exchange rate policy as well as an open trade policy leaves the country’s import, producer and consumer prices susceptible to the effects of exchange rate movements. Given the central role that inflation targeting occupies in South Africa’s monetary policy, it becomes necessary to determine the nature of influence of exchange rate changes on domestic prices. To this end, this thesis examines the magnitude and speed of exchange rate pass-through (ERPT) to import, producer and consumer prices in South Africa. Furthermore, it explores whether the direction and size of changes in the exchange rate have different pass-through effects on import prices, that is, whether the exchange rate pass-through is symmetric or asymmetric. The paper uses monthly data covering the period January 1980 to December 2005. In investigating ERPT, two main stages are identified. The initial stage is the transmission of fluctuations in the exchange rate to import prices, while the second-stage entails the pass-through of changes in import prices to producer and consumer prices. The first stage is estimated using the Johansen (1991) and (1995) cointegration techniques and a vector error correction model (VECM). The second stage pass-through is determined by estimating impulse response and variance decomposition functions, as well as conducting block exogeneity Wald tests. The study follows Wickremasinghe and Silvapulle’s (2004) approach in estimating pass-through asymmetry with respect to appreciations and depreciations. In addition, the thesis adapts the analytical framework of Wickremasinghe and Silvapulle (2004) to investigate the pass-through of large and small changes in the exchange rate to import prices. The results suggest that ERPT in South Africa is incomplete but relatively high. Furthermore, ERPT is found to be higher in periods of rand depreciation than appreciation which supports the binding quantity constraint theory. There is also some evidence that pass-through is higher in periods of small changes than large changes in the exchange rate, which supports the menu cost theory when invoices are denominated in the exporters’ currency.
- Full Text:
- Date Issued: 2008
An analysis of factors affecting housing delivery in the Nyandeni local municipality with specific reference to the Extension 4 Housing Project: a case study of Ward 21 in Ngqeleni
- Authors: Madzidzela, Liyanda
- Date: 2008
- Subjects: Housing policy -- South Africa , Low-income housing -- South Africa -- Eastern Cape , Public housing -- South Africa -- Eastern Cape , Housing development -- South Africa , Community development, Urban -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8219 , http://hdl.handle.net/10948/1004 , Housing policy -- South Africa , Low-income housing -- South Africa -- Eastern Cape , Public housing -- South Africa -- Eastern Cape , Housing development -- South Africa , Community development, Urban -- South Africa -- Eastern Cape
- Description: The study investigates problems and challenges that, the Nyandeni local municipality faces in terms of housing delivery to its communities. The purpose is to look at the factors that affect housing delivery at Nyandeni local municipality in the Extension 4 Housing Project in Ngqeleni and what can be done in order to improve it. The housing development at Nyandeni Local Municipality is not up to standard, the situation is worse in rural areas where there is not a single rural housing project that has been implemented thus far instead, there is a lack of infrastructure and other essential services. This is a serious problem that the Nyandeni local municipality faces, as a result the most vulnerable people are the poorest of the poor particularly those residing in rural areas. The study has investigated housing delivery at Nyandeni local municipality with reference to the Extension 4 Housing Project in Ngqeleni. The investigation indicates that there are serious challenges facing housing delivery. Hence the beneficiaries of the project could not get their houses in time and the project could not be completed within the scheduled period.
- Full Text:
- Date Issued: 2008
- Authors: Madzidzela, Liyanda
- Date: 2008
- Subjects: Housing policy -- South Africa , Low-income housing -- South Africa -- Eastern Cape , Public housing -- South Africa -- Eastern Cape , Housing development -- South Africa , Community development, Urban -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8219 , http://hdl.handle.net/10948/1004 , Housing policy -- South Africa , Low-income housing -- South Africa -- Eastern Cape , Public housing -- South Africa -- Eastern Cape , Housing development -- South Africa , Community development, Urban -- South Africa -- Eastern Cape
- Description: The study investigates problems and challenges that, the Nyandeni local municipality faces in terms of housing delivery to its communities. The purpose is to look at the factors that affect housing delivery at Nyandeni local municipality in the Extension 4 Housing Project in Ngqeleni and what can be done in order to improve it. The housing development at Nyandeni Local Municipality is not up to standard, the situation is worse in rural areas where there is not a single rural housing project that has been implemented thus far instead, there is a lack of infrastructure and other essential services. This is a serious problem that the Nyandeni local municipality faces, as a result the most vulnerable people are the poorest of the poor particularly those residing in rural areas. The study has investigated housing delivery at Nyandeni local municipality with reference to the Extension 4 Housing Project in Ngqeleni. The investigation indicates that there are serious challenges facing housing delivery. Hence the beneficiaries of the project could not get their houses in time and the project could not be completed within the scheduled period.
- Full Text:
- Date Issued: 2008
An analysis of local level development in South Africa: a case study of Uitenhage
- Authors: Meyer, Sarah
- Date: 2008
- Subjects: Local government -- South Africa -- Uitenhage -- Case studies Economic development -- South Africa -- Case studies Municipal corporations -- South Africa -- Case studies Community development -- South Africa -- Case studies Cities and towns -- South Africa -- Case studies Social responsibility of business -- South Africa Small business -- South Africa
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:4813 , http://hdl.handle.net/10962/d1005487
- Description: Development backlogs, in terms of unemployment and poverty, plague many developing countries. Countries have established and implemented various policies and plans to address these challenges. In response to these development backlogs, South Africa has instituted the notion of decentralisation and developmental local government, whereby local governments are largely responsible for initiating and facilitating development in the area under their jurisdiction. Furthermore, the potential role the private sector can play in development is being increasingly recognised by government, politicians, academics and developers alike. Uitenhage has a strong corporate presence and therefore this sector has the potential to contribute towards development in the town. However the concept of using corporate social responsibility (CSR) to promote development in South Africa is relatively new and, as will be revealed in the case study, definitions and underlying motivation for undertaking CSR vary. Local Economic Development (LED) and, more recently, CSR, have been recognised as major drivers of development and are being implemented throughout the country. As this thesis illustrates, they often merge and can work hand-in-hand to promote local development. Although the private sector, through CSR has the potential to contribute to development, they often do not have the available human resources to implement development initiatives. As is evident in the case study, partnerships between the private and public sectors often emerge as a result. Development institutions play a key role in development and often assist in bridging the gap between citizens, the state and the market. The development institutions in Uitenhage often act as instigators and facilitators on behalf of the larger corporations. The case study in Uitenhage, is a locality where there is a strong automotive industrial cluster and several major firms which are active in the development process. Furthermore, development institutions are committed to the socio-economic development of the town and the promotion of small micro medium enterprises (SMMEs), through various support services. The development institutions, often in partnership with the local government and the public sector, have initiated various local developmental projects in the town, of which three will be discussed in the case study. In this thesis, case study research reveals that corporations often do not meet their potential developmental role and their CSR actions are often considered as ‘window-dressing’ aimed at boosting their corporate image. Similarly, with regard to the development institutions, their development and job creation results look impressive at first glance, but further investigation reveals a collapse of a large number of projects. Despite the potential of LED and CSR to be major drivers of local development, there are still a number of hindering factors, which will be revealed in this thesis and lessons to be learnt which can help to inform future local development projects
- Full Text:
- Date Issued: 2008
- Authors: Meyer, Sarah
- Date: 2008
- Subjects: Local government -- South Africa -- Uitenhage -- Case studies Economic development -- South Africa -- Case studies Municipal corporations -- South Africa -- Case studies Community development -- South Africa -- Case studies Cities and towns -- South Africa -- Case studies Social responsibility of business -- South Africa Small business -- South Africa
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:4813 , http://hdl.handle.net/10962/d1005487
- Description: Development backlogs, in terms of unemployment and poverty, plague many developing countries. Countries have established and implemented various policies and plans to address these challenges. In response to these development backlogs, South Africa has instituted the notion of decentralisation and developmental local government, whereby local governments are largely responsible for initiating and facilitating development in the area under their jurisdiction. Furthermore, the potential role the private sector can play in development is being increasingly recognised by government, politicians, academics and developers alike. Uitenhage has a strong corporate presence and therefore this sector has the potential to contribute towards development in the town. However the concept of using corporate social responsibility (CSR) to promote development in South Africa is relatively new and, as will be revealed in the case study, definitions and underlying motivation for undertaking CSR vary. Local Economic Development (LED) and, more recently, CSR, have been recognised as major drivers of development and are being implemented throughout the country. As this thesis illustrates, they often merge and can work hand-in-hand to promote local development. Although the private sector, through CSR has the potential to contribute to development, they often do not have the available human resources to implement development initiatives. As is evident in the case study, partnerships between the private and public sectors often emerge as a result. Development institutions play a key role in development and often assist in bridging the gap between citizens, the state and the market. The development institutions in Uitenhage often act as instigators and facilitators on behalf of the larger corporations. The case study in Uitenhage, is a locality where there is a strong automotive industrial cluster and several major firms which are active in the development process. Furthermore, development institutions are committed to the socio-economic development of the town and the promotion of small micro medium enterprises (SMMEs), through various support services. The development institutions, often in partnership with the local government and the public sector, have initiated various local developmental projects in the town, of which three will be discussed in the case study. In this thesis, case study research reveals that corporations often do not meet their potential developmental role and their CSR actions are often considered as ‘window-dressing’ aimed at boosting their corporate image. Similarly, with regard to the development institutions, their development and job creation results look impressive at first glance, but further investigation reveals a collapse of a large number of projects. Despite the potential of LED and CSR to be major drivers of local development, there are still a number of hindering factors, which will be revealed in this thesis and lessons to be learnt which can help to inform future local development projects
- Full Text:
- Date Issued: 2008
An analysis of strategies used to manage conflict at Volkswagen of South Africa
- Authors: Conybeare, Gaily
- Date: 2008
- Subjects: Volkswagen of South Africa (Firm) , Conflict management -- South Africa , Motor vehicle industry -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8743 , http://hdl.handle.net/10948/762 , Volkswagen of South Africa (Firm) , Conflict management -- South Africa , Motor vehicle industry -- South Africa -- Port Elizabeth
- Description: This research study addresses the problem of determining the strategies that can be used by Internal Audit at Volkswagen of South Africa to manage conflict effectively. To achieve this objective a comprehensive literature study was performed to determine the views on conflict and evaluate the various conflict models. The study also included the reasons for and sources of conflict and the effects of conflict on the performance and controls within VWSA. The identification of conflict management strategies and subsequent conflict management styles were revealed by the literature study. Various discussions from different authors on how to resolve conflict situations are also discussed. The literature review serves as a model in the development of a guideline for VWSA Internal Audit team and management to manage conflict. Senior Management, middle management and staff from various departments within VWSA were requested to complete a questionnaire in order to determine the strategies and effectiveness of these strategies used by Internal Audit to manage conflict. The questionnaire was developed in accordance with the findings from the research. A pilot study was conducted to evaluate the relevance of the study to the problem questions and to evaluate whether the questionnaire will be easily understood. The answers of the respondents were analyzed and compared to the findings of the literature study. The information obtained from the literature study and from the respondents resulted in various recommendations and conclusions.
- Full Text:
- Date Issued: 2008
- Authors: Conybeare, Gaily
- Date: 2008
- Subjects: Volkswagen of South Africa (Firm) , Conflict management -- South Africa , Motor vehicle industry -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8743 , http://hdl.handle.net/10948/762 , Volkswagen of South Africa (Firm) , Conflict management -- South Africa , Motor vehicle industry -- South Africa -- Port Elizabeth
- Description: This research study addresses the problem of determining the strategies that can be used by Internal Audit at Volkswagen of South Africa to manage conflict effectively. To achieve this objective a comprehensive literature study was performed to determine the views on conflict and evaluate the various conflict models. The study also included the reasons for and sources of conflict and the effects of conflict on the performance and controls within VWSA. The identification of conflict management strategies and subsequent conflict management styles were revealed by the literature study. Various discussions from different authors on how to resolve conflict situations are also discussed. The literature review serves as a model in the development of a guideline for VWSA Internal Audit team and management to manage conflict. Senior Management, middle management and staff from various departments within VWSA were requested to complete a questionnaire in order to determine the strategies and effectiveness of these strategies used by Internal Audit to manage conflict. The questionnaire was developed in accordance with the findings from the research. A pilot study was conducted to evaluate the relevance of the study to the problem questions and to evaluate whether the questionnaire will be easily understood. The answers of the respondents were analyzed and compared to the findings of the literature study. The information obtained from the literature study and from the respondents resulted in various recommendations and conclusions.
- Full Text:
- Date Issued: 2008
An analysis of the implementation of sustainability principles in Buffalo City Municipality
- Authors: Mniki, Phumzile
- Date: 2008
- Subjects: Buffalo City (South Africa) Local government -- South Africa -- Eastern Cape -- Case studies Municipal government -- South Africa -- Eastern Cape -- Case studies Sustainable development -- South Africa -- Eastern Cape -- Case studies Strategic planning -- South Africa -- Eastern Cape -- Case studies Economic development -- South Africa -- Eastern Cape -- Case studies
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:790 , http://hdl.handle.net/10962/d1003941
- Description: This study investigated the planning, implementation and monitoring of sustainability principles in Buffalo City Municipality (BCM), in the Eastern Cape Province. It also analysed how reporting on sustainability principles was done at this municipality. The research was conducted as a qualitative case study that used analyses of documents, questionnaires and interviews to gather data. All respondents were involved with BCM, some as municipal officials in key positions in the different directorates and others as councillors. The study was contextualised within the area of sustainable development at local government level. The focus was on how the mandate of sustainable local development at local government level was met in BCM. The focus was on the planning, implementation and monitoring of stipulations of Local Agenda 21 and sustainability principles. The study focused on the provision of basic services; inter-generational equity; integration of economic, social and environmental aspects; community involvement; institutional capacity building; partnerships, and global links. The study established that Buffalo City Municipality incorporated sustainability in its vision. There was a lack of common understanding of the meaning of sustainability. Sustainability principles featured prominently at the integrated development planning phase but were less explicitly mentioned in the implementation, monitoring and reporting phases. Sustainability principles were subsumed in the developmental goals of the municipality. The study also highlighted the need for a strategy to have an institution-wide implementation of sustainability principles which would incorporate raising awareness about sustainability and its value.
- Full Text:
- Date Issued: 2008
- Authors: Mniki, Phumzile
- Date: 2008
- Subjects: Buffalo City (South Africa) Local government -- South Africa -- Eastern Cape -- Case studies Municipal government -- South Africa -- Eastern Cape -- Case studies Sustainable development -- South Africa -- Eastern Cape -- Case studies Strategic planning -- South Africa -- Eastern Cape -- Case studies Economic development -- South Africa -- Eastern Cape -- Case studies
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:790 , http://hdl.handle.net/10962/d1003941
- Description: This study investigated the planning, implementation and monitoring of sustainability principles in Buffalo City Municipality (BCM), in the Eastern Cape Province. It also analysed how reporting on sustainability principles was done at this municipality. The research was conducted as a qualitative case study that used analyses of documents, questionnaires and interviews to gather data. All respondents were involved with BCM, some as municipal officials in key positions in the different directorates and others as councillors. The study was contextualised within the area of sustainable development at local government level. The focus was on how the mandate of sustainable local development at local government level was met in BCM. The focus was on the planning, implementation and monitoring of stipulations of Local Agenda 21 and sustainability principles. The study focused on the provision of basic services; inter-generational equity; integration of economic, social and environmental aspects; community involvement; institutional capacity building; partnerships, and global links. The study established that Buffalo City Municipality incorporated sustainability in its vision. There was a lack of common understanding of the meaning of sustainability. Sustainability principles featured prominently at the integrated development planning phase but were less explicitly mentioned in the implementation, monitoring and reporting phases. Sustainability principles were subsumed in the developmental goals of the municipality. The study also highlighted the need for a strategy to have an institution-wide implementation of sustainability principles which would incorporate raising awareness about sustainability and its value.
- Full Text:
- Date Issued: 2008
An analysis of the influence of question design on pupils' approaches to number pattern generalisation tasks
- Authors: Samson, Duncan Alistair
- Date: 2008
- Subjects: Mathematics -- Study and teaching Number theory -- Problems, exercises, etc Algebra -- Study and teaching Arithmetic -- Foundations Pattern perception
- Language: English
- Type: Thesis , Masters , MEd
- Identifier: vital:1421 , http://hdl.handle.net/10962/d1003302
- Description: This study is based on a qualitative investigation framed within an interpretive paradigm, and aims to investigate the extent to which question design affects the solution strategies adopted by children when solving linear number pattern generalisation tasks presented in pictorial and numeric contexts. The research tool comprised a series of 22 pencil and paper exercises based on linear generalisation tasks set in both numeric and 2-dimensional pictorial contexts. The responses to these linear generalisation questions were classified by means of stage descriptors as well as stage modifiers. The method or strategy adopted was carefully analysed and classified into one of seven categories. A meta-analysis focused on the formula derived for the nth term in conjunction with its justification. The process of justification proved to be a critical factor in being able to accurately interpret the origin of the sub-structure evident in many of these responses. From a theoretical perspective, the central role of justification/proof within the context of this study is seen as communication of mathematical understanding, and the process of justification/proof proved to be highly successful in providing a window of understanding into each pupil’s cognitive reasoning. The results of this study strongly support the notion that question design can play a critical role in influencing pupils’ choice of strategy and level of attainment when solving pattern generalisation tasks. Furthermore, this study identified a diverse range of visually motivated strategies and mechanisms of visualisation. An awareness and appreciation for such a diversity of visualisation strategies, as well as an understanding of the importance of appropriate question design, has direct pedagogical application within the context of the mathematics classroom.
- Full Text:
- Date Issued: 2008
- Authors: Samson, Duncan Alistair
- Date: 2008
- Subjects: Mathematics -- Study and teaching Number theory -- Problems, exercises, etc Algebra -- Study and teaching Arithmetic -- Foundations Pattern perception
- Language: English
- Type: Thesis , Masters , MEd
- Identifier: vital:1421 , http://hdl.handle.net/10962/d1003302
- Description: This study is based on a qualitative investigation framed within an interpretive paradigm, and aims to investigate the extent to which question design affects the solution strategies adopted by children when solving linear number pattern generalisation tasks presented in pictorial and numeric contexts. The research tool comprised a series of 22 pencil and paper exercises based on linear generalisation tasks set in both numeric and 2-dimensional pictorial contexts. The responses to these linear generalisation questions were classified by means of stage descriptors as well as stage modifiers. The method or strategy adopted was carefully analysed and classified into one of seven categories. A meta-analysis focused on the formula derived for the nth term in conjunction with its justification. The process of justification proved to be a critical factor in being able to accurately interpret the origin of the sub-structure evident in many of these responses. From a theoretical perspective, the central role of justification/proof within the context of this study is seen as communication of mathematical understanding, and the process of justification/proof proved to be highly successful in providing a window of understanding into each pupil’s cognitive reasoning. The results of this study strongly support the notion that question design can play a critical role in influencing pupils’ choice of strategy and level of attainment when solving pattern generalisation tasks. Furthermore, this study identified a diverse range of visually motivated strategies and mechanisms of visualisation. An awareness and appreciation for such a diversity of visualisation strategies, as well as an understanding of the importance of appropriate question design, has direct pedagogical application within the context of the mathematics classroom.
- Full Text:
- Date Issued: 2008
An analysis of the use of limited real rights in tax planning
- Authors: Green, Christopher Terrence
- Date: 2008
- Subjects: Tax planning , Income tax -- Law and legislation -- South Africa , Limited liability
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8958 , http://hdl.handle.net/10948/809 , Tax planning , Income tax -- Law and legislation -- South Africa , Limited liability
- Description: The aim of this treatise is to provide an analysis of the tax implications of making use of limited real rights in tax planning. In order to understand the tax implications of making use of limited real rights it is necessary to understand the nature and legal form of these rights. The importance of this understanding lies in the determination of the tax legislation applicable to the right in question, and the subsequent tax implications. The next step in working through an analysis of the tax implications of making use of limited real rights is therefore to define the scope of applicable legislation. This required an analysis of the scoping provisions of our tax legislation. Once the scope of applicable legislation had been defined, it was then possible to move onto an analysis of the application of the legislation identified to the various “stages” of limited real rights. The conclusion from this analysis is that the tax implications of making use of limited real rights are spread fairly broadly across several different pieces of legislation, and need to be carefully and fully considered when making a decision to make use of limited real rights in a tax planning strategy. The conclusion on the analysis of certain selected tax planning strategies that make use of limited real rights is that it is possible to make fairly substantial cash flow savings when deciding to implement a particular strategy which makes use of limited real rights. But, that use of these strategies is not without risk. For example, SARS may examine a particular strategy in terms of the “new” GAAR. The financial implications of the successful application of the GAAR may be disastrous to the taxpayer, and the tax planner will need to have considered and advised on the possibility of such a challenge from SARS. In addition, in some of the strategies, there are risks associated with the anticipated life expectancy of parties to the tax plan being shorter than anticipated. The conclusion is that the use of limited real rights in tax planning can be effective and provide savings, but that the use of such a strategy requires, inter alia, a very careful consideration of the interaction and application of our tax legislation to the strategy.
- Full Text:
- Date Issued: 2008
- Authors: Green, Christopher Terrence
- Date: 2008
- Subjects: Tax planning , Income tax -- Law and legislation -- South Africa , Limited liability
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8958 , http://hdl.handle.net/10948/809 , Tax planning , Income tax -- Law and legislation -- South Africa , Limited liability
- Description: The aim of this treatise is to provide an analysis of the tax implications of making use of limited real rights in tax planning. In order to understand the tax implications of making use of limited real rights it is necessary to understand the nature and legal form of these rights. The importance of this understanding lies in the determination of the tax legislation applicable to the right in question, and the subsequent tax implications. The next step in working through an analysis of the tax implications of making use of limited real rights is therefore to define the scope of applicable legislation. This required an analysis of the scoping provisions of our tax legislation. Once the scope of applicable legislation had been defined, it was then possible to move onto an analysis of the application of the legislation identified to the various “stages” of limited real rights. The conclusion from this analysis is that the tax implications of making use of limited real rights are spread fairly broadly across several different pieces of legislation, and need to be carefully and fully considered when making a decision to make use of limited real rights in a tax planning strategy. The conclusion on the analysis of certain selected tax planning strategies that make use of limited real rights is that it is possible to make fairly substantial cash flow savings when deciding to implement a particular strategy which makes use of limited real rights. But, that use of these strategies is not without risk. For example, SARS may examine a particular strategy in terms of the “new” GAAR. The financial implications of the successful application of the GAAR may be disastrous to the taxpayer, and the tax planner will need to have considered and advised on the possibility of such a challenge from SARS. In addition, in some of the strategies, there are risks associated with the anticipated life expectancy of parties to the tax plan being shorter than anticipated. The conclusion is that the use of limited real rights in tax planning can be effective and provide savings, but that the use of such a strategy requires, inter alia, a very careful consideration of the interaction and application of our tax legislation to the strategy.
- Full Text:
- Date Issued: 2008
An appraisal of basic infrastructural service delivery and community participation at the local level a case study of three municipalities in the Eastern Cape
- Authors: Mamba, Bonginkosi
- Date: 2008
- Subjects: Municipal services -- South Africa -- Eastern Cape Case studies , Housing policy -- South Africa -- Eastern Cape Case studies , Housing -- South Africa -- Eastern Cape Case studies , Local government -- South Africa -- Eastern Cape Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:958 , http://hdl.handle.net/10962/d1002692 , Municipal services -- South Africa -- Eastern Cape Case studies , Housing policy -- South Africa -- Eastern Cape Case studies , Housing -- South Africa -- Eastern Cape Case studies , Local government -- South Africa -- Eastern Cape Case studies
- Description: Housing provision plays a vital role in meeting basic needs. Dwellings provide the security required for basic functioning and are thus essential for both human development and the alleviation of poverty. This study examines the levels and quality of basic infrastructural service delivery (electricity, water and sanitation) at local government level, focusing on housing. The local government areas studied include Grahamstown Fort Beaufort and Duncan Village. This was done for the purposes of analyzing the effectiveness of the existing housing policy with regard to the adequacy of scale, its developmental logic, implementation and coordination. Justification for basic infrastructural service delivery is based on the Basic Needs Approach [BNA] which forms the cornerstone of the World Bank’s delivery framework. The paper makes use of two methods: firstly, secondary sources are used to provide an impression of the broad policy framework focusing around basic service delivery with housing as the centrepiece. Specific attention is thus given to Integrated Development Plans (IDPs) as this is the level of policy-making responsible for the delivery of these services to communities. Secondly, previously un-analysed data drawn from a household social exclusion survey (2005-2006) conducted in three Eastern Cape municipalities (Buffalo City, Makana and Nkonkobe – representing respectively urban, small town, and rural areas) are evaluated. The data are analysed two ways – graphically and through a regression analysis – to test four hypotheses regarding basic service delivery. Graphical analysis demonstrates that services differ according to housing type and location. It was found that brick houses seem more likely to have better basic services than either shacks or mud dwellings. The results also show that there are inequalities in the provision of certain basic services such as water and sanitation between Duncan Village and Grahamstown. Overall, the results of this study show that government is still faced with major challenges in addressing housing backlogs.
- Full Text:
- Date Issued: 2008
- Authors: Mamba, Bonginkosi
- Date: 2008
- Subjects: Municipal services -- South Africa -- Eastern Cape Case studies , Housing policy -- South Africa -- Eastern Cape Case studies , Housing -- South Africa -- Eastern Cape Case studies , Local government -- South Africa -- Eastern Cape Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:958 , http://hdl.handle.net/10962/d1002692 , Municipal services -- South Africa -- Eastern Cape Case studies , Housing policy -- South Africa -- Eastern Cape Case studies , Housing -- South Africa -- Eastern Cape Case studies , Local government -- South Africa -- Eastern Cape Case studies
- Description: Housing provision plays a vital role in meeting basic needs. Dwellings provide the security required for basic functioning and are thus essential for both human development and the alleviation of poverty. This study examines the levels and quality of basic infrastructural service delivery (electricity, water and sanitation) at local government level, focusing on housing. The local government areas studied include Grahamstown Fort Beaufort and Duncan Village. This was done for the purposes of analyzing the effectiveness of the existing housing policy with regard to the adequacy of scale, its developmental logic, implementation and coordination. Justification for basic infrastructural service delivery is based on the Basic Needs Approach [BNA] which forms the cornerstone of the World Bank’s delivery framework. The paper makes use of two methods: firstly, secondary sources are used to provide an impression of the broad policy framework focusing around basic service delivery with housing as the centrepiece. Specific attention is thus given to Integrated Development Plans (IDPs) as this is the level of policy-making responsible for the delivery of these services to communities. Secondly, previously un-analysed data drawn from a household social exclusion survey (2005-2006) conducted in three Eastern Cape municipalities (Buffalo City, Makana and Nkonkobe – representing respectively urban, small town, and rural areas) are evaluated. The data are analysed two ways – graphically and through a regression analysis – to test four hypotheses regarding basic service delivery. Graphical analysis demonstrates that services differ according to housing type and location. It was found that brick houses seem more likely to have better basic services than either shacks or mud dwellings. The results also show that there are inequalities in the provision of certain basic services such as water and sanitation between Duncan Village and Grahamstown. Overall, the results of this study show that government is still faced with major challenges in addressing housing backlogs.
- Full Text:
- Date Issued: 2008
An assessment of information systems supporting procurement reforms in the Eastern Cape provincial government
- Authors: Bosire, Samuel Mobisa
- Date: 2008
- Subjects: Government purchasing -- South Africa -- Eastern Cape , Public finance -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11620 , http://hdl.handle.net/10353/214 , Government purchasing -- South Africa -- Eastern Cape , Public finance -- South Africa -- Eastern Cape
- Description: As part of the on going financial management reforms, the South African Government introduced the Supply Chain Management (SCM) Framework. Since 2004, The Eastern Cape Provincial Government embarked on a process of ensuring that procurement reforms wrought by the advent of SCM are seamlessly ushered in. Information Technology (IT) and systems are a sine qua non in supporting the implementation of the SCM Framework. However, IT does not operate in a vacuum. Many other factors complement, supplement and influence the objectives sought through the use of Information Technology and systems. It is the confluence of this factors that eventually will determine that success or failure of using technology to support procurement reforms in government. The research investigates the factors affecting the success of the Information systems underlying SCM in the Eastern Cape Provincial government. Data for the research was gathered using a questionnaire administered to all Eastern Cape Provincial Government departments. The research borrows from Heeks’ ITPOSMO model in assessing SCM and Information Systems structures and processes and gauging their state of readiness to embrace procurement reforms envisaged through the SCM Framework. Because of the importance of having a strong IT functional unit in any government department, the study highlights IT issues that typically confront IT managers, especially in the public sector. Heeks’ ITPOSMO model emerges as a sufficient framework for identifying gaps that currently exist between the reality and perceptions on the readiness of IT to adequately support government procurement reforms. The dissertation concludes that the success of the system is dependent not only on the technological component of the system, but also on other factors.
- Full Text:
- Date Issued: 2008
- Authors: Bosire, Samuel Mobisa
- Date: 2008
- Subjects: Government purchasing -- South Africa -- Eastern Cape , Public finance -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11620 , http://hdl.handle.net/10353/214 , Government purchasing -- South Africa -- Eastern Cape , Public finance -- South Africa -- Eastern Cape
- Description: As part of the on going financial management reforms, the South African Government introduced the Supply Chain Management (SCM) Framework. Since 2004, The Eastern Cape Provincial Government embarked on a process of ensuring that procurement reforms wrought by the advent of SCM are seamlessly ushered in. Information Technology (IT) and systems are a sine qua non in supporting the implementation of the SCM Framework. However, IT does not operate in a vacuum. Many other factors complement, supplement and influence the objectives sought through the use of Information Technology and systems. It is the confluence of this factors that eventually will determine that success or failure of using technology to support procurement reforms in government. The research investigates the factors affecting the success of the Information systems underlying SCM in the Eastern Cape Provincial government. Data for the research was gathered using a questionnaire administered to all Eastern Cape Provincial Government departments. The research borrows from Heeks’ ITPOSMO model in assessing SCM and Information Systems structures and processes and gauging their state of readiness to embrace procurement reforms envisaged through the SCM Framework. Because of the importance of having a strong IT functional unit in any government department, the study highlights IT issues that typically confront IT managers, especially in the public sector. Heeks’ ITPOSMO model emerges as a sufficient framework for identifying gaps that currently exist between the reality and perceptions on the readiness of IT to adequately support government procurement reforms. The dissertation concludes that the success of the system is dependent not only on the technological component of the system, but also on other factors.
- Full Text:
- Date Issued: 2008
An assessment of the accelerated professional trade competency development programme within the department of public works in the province of the Eastern Cape
- Authors: George, Thembakazi Caroline
- Date: 2008
- Subjects: Construction workers -- Training of -- South Africa , Skilled labor -- South Africa -- Eastern Cape , Construction workers -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8223 , http://hdl.handle.net/10948/959 , Construction workers -- Training of -- South Africa , Skilled labor -- South Africa -- Eastern Cape , Construction workers -- South Africa -- Eastern Cape
- Description: In an attempt to address the challenges relating to the lack of well-trained and skilled workers, which directly impacts on the quality of products delivered by the construction sector, this study focuses on an assessment of the Accelerated Professional Trade Competency Development Programme within the Department of Public Works in the province of the Eastern Cape in South Africa. The main focal area of the study is the OR Tambo Region. These challenges manifest themselves through, among others, backlogs in the delivery of housing by the Eastern Cape Department of Housing and Local Government where the majority of houses demonstrate poor workmanship. Hence the Department of Public works has introduced the Accelerated Professional Trade Competency Development Programme. This study investigates the effectiveness of the implementation of the Accelerated Professional Trade Competency Development Programme. Particular attention is paid to the extent to which the Programme contributes towards the development of qualified artisans and what improvement areas can be effected to achieve its objectives.
- Full Text:
- Date Issued: 2008
- Authors: George, Thembakazi Caroline
- Date: 2008
- Subjects: Construction workers -- Training of -- South Africa , Skilled labor -- South Africa -- Eastern Cape , Construction workers -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8223 , http://hdl.handle.net/10948/959 , Construction workers -- Training of -- South Africa , Skilled labor -- South Africa -- Eastern Cape , Construction workers -- South Africa -- Eastern Cape
- Description: In an attempt to address the challenges relating to the lack of well-trained and skilled workers, which directly impacts on the quality of products delivered by the construction sector, this study focuses on an assessment of the Accelerated Professional Trade Competency Development Programme within the Department of Public Works in the province of the Eastern Cape in South Africa. The main focal area of the study is the OR Tambo Region. These challenges manifest themselves through, among others, backlogs in the delivery of housing by the Eastern Cape Department of Housing and Local Government where the majority of houses demonstrate poor workmanship. Hence the Department of Public works has introduced the Accelerated Professional Trade Competency Development Programme. This study investigates the effectiveness of the implementation of the Accelerated Professional Trade Competency Development Programme. Particular attention is paid to the extent to which the Programme contributes towards the development of qualified artisans and what improvement areas can be effected to achieve its objectives.
- Full Text:
- Date Issued: 2008
An assessment of the African Peer Review Mechanism with specific reference to South Africa
- Authors: Sibuyi, Lucas Nkosana
- Date: 2008
- Subjects: African Peer Review Mechanism , Peer review -- South Africa , Peer review -- Political aspects -- Africa , African cooperation , Political leadership -- Africa , Africa -- Politics and government -- 1960- , Democratization -- Africa , Civil society -- Africa , Political participation -- Africa
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: vital:8242 , http://hdl.handle.net/10948/758 , African Peer Review Mechanism , Peer review -- South Africa , Peer review -- Political aspects -- Africa , African cooperation , Political leadership -- Africa , Africa -- Politics and government -- 1960- , Democratization -- Africa , Civil society -- Africa , Political participation -- Africa
- Description: The Heads of State and Government Implementation Committee (HSGIC) of the New Partnership for Africa’s Development (Nepad) acknowledged and recognised the centrality of good governance within the context of the African Peer Review Mechanism (APRM), an innovative mechanism acceded to by member states of the African Union (AU) as a self- monitoring mechanism for good governance. South Africa is one of the countries which acceded to the APRM in 2003. Accordingly, South Africa appointed a National Governing Council (NGC) under the chairpersonship of the Minister of Public Services and Administration as the focal point to develop a strategy to manage the national APRM process. The NGC was constituted of business, the disabled, civil society, churches, trade unions, government and women’s coalitions thus ensuring all relevant stakeholders are represented. As part of South Africa’s country assessment, questionnaires dealing with the four core thematic areas of the APRM were sent through to the public by community development workers. In addition, four technical assessment agencies were appointed to assist in conducting research on the four thematic areas. The primary objective of this study is to examine the theoretical approach to the study and the African Peer Review Mechanism’s contemporary relevance to South Africa, its intended beneficiaries and an assessment of South Africa for the period 2006. The study revealed that Proportional Representation (PR) and floor-crossing have an impact on the sustainability, relevance, long term development, vibrancy and profundity of constitutional democracy in the country. Clearly, since the dawn of the democratic dispensation in South Africa the electoral system introduced is such that it had to take into account the challenges the country faced during the apartheid system of governance. In this context, enough space for free political competition in the country was created. On the basis of the findings of the study, it is patently clear that the time allocated for the CSAR was minimal and the country should have been given at least two years so that the self assessment could have been extensively done. On the issue of HIV and AIDS and its relationship to socio-economic conditions, it was revealed that the country has a lot to do in this regard. The debilitating effect that HIV and AIDS has on the lives of the citizens requires clarity of policy and strategy, consistency in public communication and the need for sustained partnerships amongst all relevant stakeholders. At another level, there was a call for a basic income grant although government does not necessarily support it. Based on the research findings above, a new research area outlined under recommendations can be conceptualized for further research and it requires some attention.
- Full Text:
- Date Issued: 2008
- Authors: Sibuyi, Lucas Nkosana
- Date: 2008
- Subjects: African Peer Review Mechanism , Peer review -- South Africa , Peer review -- Political aspects -- Africa , African cooperation , Political leadership -- Africa , Africa -- Politics and government -- 1960- , Democratization -- Africa , Civil society -- Africa , Political participation -- Africa
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: vital:8242 , http://hdl.handle.net/10948/758 , African Peer Review Mechanism , Peer review -- South Africa , Peer review -- Political aspects -- Africa , African cooperation , Political leadership -- Africa , Africa -- Politics and government -- 1960- , Democratization -- Africa , Civil society -- Africa , Political participation -- Africa
- Description: The Heads of State and Government Implementation Committee (HSGIC) of the New Partnership for Africa’s Development (Nepad) acknowledged and recognised the centrality of good governance within the context of the African Peer Review Mechanism (APRM), an innovative mechanism acceded to by member states of the African Union (AU) as a self- monitoring mechanism for good governance. South Africa is one of the countries which acceded to the APRM in 2003. Accordingly, South Africa appointed a National Governing Council (NGC) under the chairpersonship of the Minister of Public Services and Administration as the focal point to develop a strategy to manage the national APRM process. The NGC was constituted of business, the disabled, civil society, churches, trade unions, government and women’s coalitions thus ensuring all relevant stakeholders are represented. As part of South Africa’s country assessment, questionnaires dealing with the four core thematic areas of the APRM were sent through to the public by community development workers. In addition, four technical assessment agencies were appointed to assist in conducting research on the four thematic areas. The primary objective of this study is to examine the theoretical approach to the study and the African Peer Review Mechanism’s contemporary relevance to South Africa, its intended beneficiaries and an assessment of South Africa for the period 2006. The study revealed that Proportional Representation (PR) and floor-crossing have an impact on the sustainability, relevance, long term development, vibrancy and profundity of constitutional democracy in the country. Clearly, since the dawn of the democratic dispensation in South Africa the electoral system introduced is such that it had to take into account the challenges the country faced during the apartheid system of governance. In this context, enough space for free political competition in the country was created. On the basis of the findings of the study, it is patently clear that the time allocated for the CSAR was minimal and the country should have been given at least two years so that the self assessment could have been extensively done. On the issue of HIV and AIDS and its relationship to socio-economic conditions, it was revealed that the country has a lot to do in this regard. The debilitating effect that HIV and AIDS has on the lives of the citizens requires clarity of policy and strategy, consistency in public communication and the need for sustained partnerships amongst all relevant stakeholders. At another level, there was a call for a basic income grant although government does not necessarily support it. Based on the research findings above, a new research area outlined under recommendations can be conceptualized for further research and it requires some attention.
- Full Text:
- Date Issued: 2008
An assessment of the child support grant as a poverty alleviation intervention in South Africa: the case of Mdantsane township in the Eastern Cape
- Authors: Mase, Blossom Bukelwa
- Date: 2008
- Subjects: Child support -- South Africa -- Eastern Cape , Child welfare -- South Africa , Child support -- Government policy -- South Africa , Poverty -- South Africa -- Eastern Cape , Children -- Services for -- South Africa
- Language: English
- Type: Thesis , Masters , M Soc Sc (Dev)
- Identifier: vital:11412 , http://hdl.handle.net/10353/299 , Child support -- South Africa -- Eastern Cape , Child welfare -- South Africa , Child support -- Government policy -- South Africa , Poverty -- South Africa -- Eastern Cape , Children -- Services for -- South Africa
- Description: There were different kinds of imbalances that were created by the past regime in which race and colour were determining factors in terms of access to state welfare. The State Maintance Grant was one of the state welfare interventions where African women did not even know how or where to access the grant. When the Child Support Grant was introduced in 1998 it gave hope to the vulnerable section of the society, the children. The CSG is one of the poverty alleviation programs introduced by the government to target the poverty stricken children of South Africa. This is a means tested program which not all children are to benefit but a certain portion of the society. There are special conditions attached to the grant which require to be fulfilled. These conditions require the child to be fed, clothed, immunized, school needs be paid, and have proper accommodation. This study made use of the Mdantsane Township which is 25 km away from East London city centre as a case study to determine whether the CSG has managed to achieve its objective of relieving poverty among children, given the conditions of poverty and unemployment in Mdantsane. The findings of this study indicate that the people of Mdantsane are still in poverty and the most affected sections remain the children. The respondents indicate that the people are unemployed as a result the CSG seems to be the source of livelihood in these households leaving the children at a disadvantage as the grant is intended for x their own needs. Therefore there is a need to investigate whether the CSG has any impact on the lives of these children. Also since Eastern Cape is known to be one of the poorest provinces, it is important to investigate whether the CSG has become the source of livelihood in some households.
- Full Text:
- Date Issued: 2008
- Authors: Mase, Blossom Bukelwa
- Date: 2008
- Subjects: Child support -- South Africa -- Eastern Cape , Child welfare -- South Africa , Child support -- Government policy -- South Africa , Poverty -- South Africa -- Eastern Cape , Children -- Services for -- South Africa
- Language: English
- Type: Thesis , Masters , M Soc Sc (Dev)
- Identifier: vital:11412 , http://hdl.handle.net/10353/299 , Child support -- South Africa -- Eastern Cape , Child welfare -- South Africa , Child support -- Government policy -- South Africa , Poverty -- South Africa -- Eastern Cape , Children -- Services for -- South Africa
- Description: There were different kinds of imbalances that were created by the past regime in which race and colour were determining factors in terms of access to state welfare. The State Maintance Grant was one of the state welfare interventions where African women did not even know how or where to access the grant. When the Child Support Grant was introduced in 1998 it gave hope to the vulnerable section of the society, the children. The CSG is one of the poverty alleviation programs introduced by the government to target the poverty stricken children of South Africa. This is a means tested program which not all children are to benefit but a certain portion of the society. There are special conditions attached to the grant which require to be fulfilled. These conditions require the child to be fed, clothed, immunized, school needs be paid, and have proper accommodation. This study made use of the Mdantsane Township which is 25 km away from East London city centre as a case study to determine whether the CSG has managed to achieve its objective of relieving poverty among children, given the conditions of poverty and unemployment in Mdantsane. The findings of this study indicate that the people of Mdantsane are still in poverty and the most affected sections remain the children. The respondents indicate that the people are unemployed as a result the CSG seems to be the source of livelihood in these households leaving the children at a disadvantage as the grant is intended for x their own needs. Therefore there is a need to investigate whether the CSG has any impact on the lives of these children. Also since Eastern Cape is known to be one of the poorest provinces, it is important to investigate whether the CSG has become the source of livelihood in some households.
- Full Text:
- Date Issued: 2008
An assessment of the companion modelling approach in a context of negotiating water allocation strategies : the case of the Kat River Valley, Eastern Cape, South Africa
- Authors: Gumede, Felicity Hlengiwe
- Date: 2008
- Subjects: Water supply -- South Africa -- Kat River Valley -- Management , Water resources development -- South Africa -- Kat River Valley , Integrated water development -- South Africa -- Kat River Valley
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: vital:4820 , http://hdl.handle.net/10962/d1005494 , Water supply -- South Africa -- Kat River Valley -- Management , Water resources development -- South Africa -- Kat River Valley , Integrated water development -- South Africa -- Kat River Valley
- Description: This Masters research took place in the Kat River Valley in the Eastern Cape, South Africa. The Kat River Valley is a semi-rural catchment that covers an area of approximately 1700km² and is characterized by a complicated history of dispossession and resettlement. Farming is the main activity that is practiced in the area. This includes the farming of citrus at a commercial scale, rangeland stock farming and small-scale vegetable farming. The economy of the catchment is enhanced mostly by commercial citrus farming, which consumes by far the largest amount of water in the river through irrigation. Water allocation is a burning issue among water users in the catchment and needs to be negotiated taking into consideration social, economic and environment impacts. The aim of this study is to describe, discuss and evaluate the Companion Modelling (ComMod) approach, which used a simulation model and a role-playing game related to the model in order to facilitate and develop negotiating skills as well as build capacity in decision-making amongst local stakeholders for water resource management in the Kat River Valley. The ComMod approach, developed by a group of Companion Modellers, is a community-based science approach that emerged in the 1990s. The ComMod approach is used in order to facilitate collective learning, negotiation and institutional innovation in dealing with resource management complexities faced by rural communities. Through ComMod, the model (KatAWARE) and its related role-playing game was developed by having the contact with local stakeholders. The information to feed the model and the role-playing game came from informal interviews, surveys, geographic information systems (GIS), workshops and focus groups. The use of workshops in the implementation of ComMod was a success. Results show that (1) new knowledge was acquired, which allowed stakeholders to have a broad understanding of a catchment system. (2) Awareness was created about complex systems and enabled stakeholders to see an individual action into to the broader system. (3) Strong interrelationships were fostered amongst different water users, which allowed stakeholders to share their view points. The ComMod process was however associated with a number of limitations, many of which resulted from the constraints that were imposed by the socio-economic background of the study area. Nevertheless, the outcome of the study shows that the ComMod process was useful in helping the Kat River Water Users Association (KRWUA) stakeholders develop negotiating skills regarding water allocation strategies for the development of the Catchment Management Plan.
- Full Text:
- Date Issued: 2008
- Authors: Gumede, Felicity Hlengiwe
- Date: 2008
- Subjects: Water supply -- South Africa -- Kat River Valley -- Management , Water resources development -- South Africa -- Kat River Valley , Integrated water development -- South Africa -- Kat River Valley
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: vital:4820 , http://hdl.handle.net/10962/d1005494 , Water supply -- South Africa -- Kat River Valley -- Management , Water resources development -- South Africa -- Kat River Valley , Integrated water development -- South Africa -- Kat River Valley
- Description: This Masters research took place in the Kat River Valley in the Eastern Cape, South Africa. The Kat River Valley is a semi-rural catchment that covers an area of approximately 1700km² and is characterized by a complicated history of dispossession and resettlement. Farming is the main activity that is practiced in the area. This includes the farming of citrus at a commercial scale, rangeland stock farming and small-scale vegetable farming. The economy of the catchment is enhanced mostly by commercial citrus farming, which consumes by far the largest amount of water in the river through irrigation. Water allocation is a burning issue among water users in the catchment and needs to be negotiated taking into consideration social, economic and environment impacts. The aim of this study is to describe, discuss and evaluate the Companion Modelling (ComMod) approach, which used a simulation model and a role-playing game related to the model in order to facilitate and develop negotiating skills as well as build capacity in decision-making amongst local stakeholders for water resource management in the Kat River Valley. The ComMod approach, developed by a group of Companion Modellers, is a community-based science approach that emerged in the 1990s. The ComMod approach is used in order to facilitate collective learning, negotiation and institutional innovation in dealing with resource management complexities faced by rural communities. Through ComMod, the model (KatAWARE) and its related role-playing game was developed by having the contact with local stakeholders. The information to feed the model and the role-playing game came from informal interviews, surveys, geographic information systems (GIS), workshops and focus groups. The use of workshops in the implementation of ComMod was a success. Results show that (1) new knowledge was acquired, which allowed stakeholders to have a broad understanding of a catchment system. (2) Awareness was created about complex systems and enabled stakeholders to see an individual action into to the broader system. (3) Strong interrelationships were fostered amongst different water users, which allowed stakeholders to share their view points. The ComMod process was however associated with a number of limitations, many of which resulted from the constraints that were imposed by the socio-economic background of the study area. Nevertheless, the outcome of the study shows that the ComMod process was useful in helping the Kat River Water Users Association (KRWUA) stakeholders develop negotiating skills regarding water allocation strategies for the development of the Catchment Management Plan.
- Full Text:
- Date Issued: 2008
An assessment of the role of ward committees in public participation with reference to the Kouga local municipality
- Authors: Simanga, Linda
- Date: 2008
- Subjects: Local government -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8230 , http://hdl.handle.net/10948/858 , Local government -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape
- Description: The Republic of South Africa became a democratic country in 1994 after the historic democratic elections. This year also marks the year when South Africa’s first democratic parliament was convened. The Constitution of the Republic of South Africa Act (no. 108 of 1996) was enacted in 1996. This Constitution provides for the creation of the three spheres of government, namely, the national level, which deals with matters of national importance, the provincial level, which deals with matters of provincial importance, and the local level which deals with matters of local importance. Section 152(1) (e) of the above-mentioned Constitution stipulates that the object of local government, amongst others, is to ensure the involvement of communities and community organizations in the matters of local governance. Section 73 of the Municipal Structures Act (no.117 of 1998) also requires municipalities to establish ward committees in a manner that seeks to enhance participatory democracy at the local level. Municipalities are established in terms of Section 12 of the Municipal Structures Act (no. 117 of 1998), wherein Members of Executive Councils (MEC’s) may, by notice in the Provincial Gazette, establish a municipality in each municipal area which the Demarcation Board demarcates in the province in terms of the Municipal Demarcation Act (no. 27 of 1998). Sections 7 and 8 of the Municipal Structures Act (no. 117 of 1998) further stipulate the categories of municipalities as A, B and C. Category A is a metropolitan municipality with wards and ward committees. B is a local municipality characterized by the existence of wards and ward committees to enhance public participation. C is a district municipality, whose responsibility is to support local municipalities within its area of jurisdiction so that they are self sufficient and can manage their own affairs. This study focuses on the Kouga Local Municipality, which is a Category B Municipality as promulgated by the then MEC for Housing, Local Government and Traditional Affairs, Honourable MEC S. Kwelita in the Provincial Gazette (Gazette No. 1537) dated 23 May 2006. The scenario above indicates that in the Kouga Local Municipality, ward committees are supposed to play a critical role in public participation. The study seeks to assess their role and to establish whether or not the ward committee system is effective in this regard. It is common knowledge that, whilst various pieces of legislation are clear in terms of what the role of ward committees should be, the question remains whether there is any adherence in municipalities to ensure that they fulfill their role in public participation, and hence the study.
- Full Text:
- Date Issued: 2008
- Authors: Simanga, Linda
- Date: 2008
- Subjects: Local government -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:8230 , http://hdl.handle.net/10948/858 , Local government -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape
- Description: The Republic of South Africa became a democratic country in 1994 after the historic democratic elections. This year also marks the year when South Africa’s first democratic parliament was convened. The Constitution of the Republic of South Africa Act (no. 108 of 1996) was enacted in 1996. This Constitution provides for the creation of the three spheres of government, namely, the national level, which deals with matters of national importance, the provincial level, which deals with matters of provincial importance, and the local level which deals with matters of local importance. Section 152(1) (e) of the above-mentioned Constitution stipulates that the object of local government, amongst others, is to ensure the involvement of communities and community organizations in the matters of local governance. Section 73 of the Municipal Structures Act (no.117 of 1998) also requires municipalities to establish ward committees in a manner that seeks to enhance participatory democracy at the local level. Municipalities are established in terms of Section 12 of the Municipal Structures Act (no. 117 of 1998), wherein Members of Executive Councils (MEC’s) may, by notice in the Provincial Gazette, establish a municipality in each municipal area which the Demarcation Board demarcates in the province in terms of the Municipal Demarcation Act (no. 27 of 1998). Sections 7 and 8 of the Municipal Structures Act (no. 117 of 1998) further stipulate the categories of municipalities as A, B and C. Category A is a metropolitan municipality with wards and ward committees. B is a local municipality characterized by the existence of wards and ward committees to enhance public participation. C is a district municipality, whose responsibility is to support local municipalities within its area of jurisdiction so that they are self sufficient and can manage their own affairs. This study focuses on the Kouga Local Municipality, which is a Category B Municipality as promulgated by the then MEC for Housing, Local Government and Traditional Affairs, Honourable MEC S. Kwelita in the Provincial Gazette (Gazette No. 1537) dated 23 May 2006. The scenario above indicates that in the Kouga Local Municipality, ward committees are supposed to play a critical role in public participation. The study seeks to assess their role and to establish whether or not the ward committee system is effective in this regard. It is common knowledge that, whilst various pieces of legislation are clear in terms of what the role of ward committees should be, the question remains whether there is any adherence in municipalities to ensure that they fulfill their role in public participation, and hence the study.
- Full Text:
- Date Issued: 2008
An assessment of the service quality expectations and perceptions of the patients of Awali Hospital in the Kingdom of Bahrain
- Authors: Luke, Gary Joseph
- Date: 2008
- Subjects: Awali Hospital Hospitals, Proprietary -- Bahrain Hospital care -- Quality control -- Bahrain Hospital care -- Evaluation -- Bahrain Customer services -- Rating of -- Bahrain Quality assurance
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:730 , http://hdl.handle.net/10962/d1003850
- Description: The quality of service from a hospital is the number one factor that will either turn a customer/patient away or make one for life. More and more hospitals are competing for greater shares in the market and customer-driven quality management is becoming the preferred method for improving their performance. Awali hospital is a private hospital in the Kingdom of Bahrain. It is a small 35-bed hospital that offers private medical services to the public. The hospital was originally built to serve the Bahrain Petroleum Company (Bapco) refinery workers but later opened its doors to the public. With the introduction of private patients came higher expectations of quality and higher demands on the overall services. A number of service quality shortfalls were identified over the years but never identified quantitatively by a patient evaluation survey. An English and Arabic version of the questionnaire based on SERVQUAL (Zeithaml, Parasuraman and Berry, 1988) was developed and placed in Awali hospital to test these service quality shortfalls. This study intends to evaluate these areas by answering questions about the relevant areas of service provided by the hospital. It measured patient satisfaction by looking at human aspects of service (responsiveness, reliability, empathy and assurance) with only one factor of the instrument being devoted to the non-human aspect of care rendered (tangibles). The SERVQUAL instrument has five dimensions that were measured by 21 pairs of item statements. One statement from each pair reflects perceptions, the other expectations. Measurement was accomplished by subtracting expectation from perceptions resulting in a service quality score. Positive or zero scores would reflect ideal or adequate service quality offered by the hospital. A negative score would be indicative of a service experience that did not meet customer expectations. Using the SERVQUAL questionnaire provided, quantifiable reasoning to the research questions in each dimension could be obtained so that precision, objectivity and rigour replaced hunches, experience and intuition as a means of investigating problem areas. Customers were first asked to supply some additional demographic information, for example gender, number of hospital visits, nationality, patient type (Bapco worker, general practitioner referred or private) and type of visit (inpatient, outpatient or both). They werethen asked to rate the hospital service on a 7-point Likert scale ranging from Strongly Agree (7) to Strongly Disagree (1). At the end of the questionnaire was space to write open comments. In total 600 paper questionnaires were distributed in the hospital, 300 English and 300 Arabic. Another 150 electronic questionnaires via emails were sent to refinery workers. Of the total 750 questionnaires distributed 162 were returned of which 156 (or 21.6%) could be statistically analysed. The empirical data results showed that the perception scores were significantly different at the p < 0.05 level from expectation scores. All the service quality differences (SQ=P-E) were negatively scored. This indicated that patients were not satisfied in all five dimensions of services offered by the hospital. Of the five dimensions responsiveness had the largest difference with assurance and reliability following with no significant differences between them. The demographic information revealed some interesting differences between the groups. Of all the demographic groups the most significant differences were between groups, “patient types” and “types of visit”, which showed differences between private patients and refinery workers and patients who used the hospital only as an outpatient and patients who used both services, outpatient and inpatient. In terms of the managerial implications, it was recommended that Awali hospital look to closing Gaps 1-4 of the SERVQUAL gap model which would result in closing the consumer gap, Gap 5. A process model for continuous measurement and improvement of service quality was recommended that looks at asking questions about how the hospital is performing. By adopting some of the recommendations identified in the research questions, Awali hospital could improve their quality of service, and as a consequence, their customer satisfaction and loyalty.
- Full Text:
- Date Issued: 2008
- Authors: Luke, Gary Joseph
- Date: 2008
- Subjects: Awali Hospital Hospitals, Proprietary -- Bahrain Hospital care -- Quality control -- Bahrain Hospital care -- Evaluation -- Bahrain Customer services -- Rating of -- Bahrain Quality assurance
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:730 , http://hdl.handle.net/10962/d1003850
- Description: The quality of service from a hospital is the number one factor that will either turn a customer/patient away or make one for life. More and more hospitals are competing for greater shares in the market and customer-driven quality management is becoming the preferred method for improving their performance. Awali hospital is a private hospital in the Kingdom of Bahrain. It is a small 35-bed hospital that offers private medical services to the public. The hospital was originally built to serve the Bahrain Petroleum Company (Bapco) refinery workers but later opened its doors to the public. With the introduction of private patients came higher expectations of quality and higher demands on the overall services. A number of service quality shortfalls were identified over the years but never identified quantitatively by a patient evaluation survey. An English and Arabic version of the questionnaire based on SERVQUAL (Zeithaml, Parasuraman and Berry, 1988) was developed and placed in Awali hospital to test these service quality shortfalls. This study intends to evaluate these areas by answering questions about the relevant areas of service provided by the hospital. It measured patient satisfaction by looking at human aspects of service (responsiveness, reliability, empathy and assurance) with only one factor of the instrument being devoted to the non-human aspect of care rendered (tangibles). The SERVQUAL instrument has five dimensions that were measured by 21 pairs of item statements. One statement from each pair reflects perceptions, the other expectations. Measurement was accomplished by subtracting expectation from perceptions resulting in a service quality score. Positive or zero scores would reflect ideal or adequate service quality offered by the hospital. A negative score would be indicative of a service experience that did not meet customer expectations. Using the SERVQUAL questionnaire provided, quantifiable reasoning to the research questions in each dimension could be obtained so that precision, objectivity and rigour replaced hunches, experience and intuition as a means of investigating problem areas. Customers were first asked to supply some additional demographic information, for example gender, number of hospital visits, nationality, patient type (Bapco worker, general practitioner referred or private) and type of visit (inpatient, outpatient or both). They werethen asked to rate the hospital service on a 7-point Likert scale ranging from Strongly Agree (7) to Strongly Disagree (1). At the end of the questionnaire was space to write open comments. In total 600 paper questionnaires were distributed in the hospital, 300 English and 300 Arabic. Another 150 electronic questionnaires via emails were sent to refinery workers. Of the total 750 questionnaires distributed 162 were returned of which 156 (or 21.6%) could be statistically analysed. The empirical data results showed that the perception scores were significantly different at the p < 0.05 level from expectation scores. All the service quality differences (SQ=P-E) were negatively scored. This indicated that patients were not satisfied in all five dimensions of services offered by the hospital. Of the five dimensions responsiveness had the largest difference with assurance and reliability following with no significant differences between them. The demographic information revealed some interesting differences between the groups. Of all the demographic groups the most significant differences were between groups, “patient types” and “types of visit”, which showed differences between private patients and refinery workers and patients who used the hospital only as an outpatient and patients who used both services, outpatient and inpatient. In terms of the managerial implications, it was recommended that Awali hospital look to closing Gaps 1-4 of the SERVQUAL gap model which would result in closing the consumer gap, Gap 5. A process model for continuous measurement and improvement of service quality was recommended that looks at asking questions about how the hospital is performing. By adopting some of the recommendations identified in the research questions, Awali hospital could improve their quality of service, and as a consequence, their customer satisfaction and loyalty.
- Full Text:
- Date Issued: 2008
An economic evaluation of waste telecommunication cable disposal in South Africa : a case study
- Authors: Lottering, Tony
- Date: 2008
- Subjects: Recycling (Waste, etc.) -- South Africa , Refuse and refuse disposal -- South Africa , Telecommunication -- Equipment and supplies -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8993 , http://hdl.handle.net/10948/808 , Recycling (Waste, etc.) -- South Africa , Refuse and refuse disposal -- South Africa , Telecommunication -- Equipment and supplies -- Environmental aspects
- Description: South African manufacturers, including those who produce electrical and telecommunication cables, are required by the National Waste Management Strategy (NWMS) (drawn up by the Department of Environmental Affairs and Tourism (DEAT)), to carry out waste management in a coordinated and controlled manner. It is also becoming more difficult for South African companies, who produce for export markets, to conduct business internationally if they do not have some form of environmental management system in place. While there will always be scrap generated in any manufacturing environment, the aim is, first and foremost, to reduce this to acceptable levels and, secondly, to dispose of all scrap produced in a socially responsible manner. This study focuses attention on waste management, in the form of recycling, in the cable manufacturing industry. The purpose of this study is twofold: first, to examine the economic case, by means of a cost-benefit analysis, for the establishment and operation of a telecommunication cable waste recycling plant for the purpose of recycling copper conductor; second, to examine the economic feasibility, by means of a cost-benefit analysis, of extending the existing facility in order to accommodate the recycling of the plastic fraction contained in the cable waste. A specific cost-benefit stream was generated over a project period of 20 years for both CBAs. In both CBAs costs and benefits were categorised as being either primary or secondary. The primary costs and benefits for both CBAs were all financial in nature and were valued using market prices. The secondary costs of establishing and operating a cable waste recycling plant for recycling the copper conductor included effluent costs and noise pollution costs. The secondary benefits, on the other hand, included the creation of downstream industries. The secondary costs of extending an existing cable waste recycling plant, so as to accommodate the recycling of the plastic component of cable waste, included costs related to the generation of greenhouse gases and asthma. The secondary benefits, conversely, included the increase in house prices due to the reduction of landfilling of the plastic component of cable waste. The determination of increased house prices due to landfill avoidance was carried out using the hedonic pricing method (HPM). The hypothesis was that house values would increase the further removed they were from the landfill site. Applying regression analysis to the derived hedonic pricing (HP) function showed that there is a definite correlation between the two. Properties positioned two kilometres from a landfill site in New Brighton Port Elizabeth, Eastern Cape, were found to have higher values than those positioned adjacent to the site. From the cost-benefit streams, net benefits were calculated for each CBA and discounted to present values in order to provide a standard of comparison. The social discount rate used in this study to calculate the present values reflected a combination of the social opportunity costs of capital and the social time preference rate. The rate used was calculated as the average annual rate between 2000 and 2005 and amounted to 6.72 percent. It was derived from a combination of the opportunity costs of government borrowings, household consumption borrowings and return on savings.
- Full Text:
- Date Issued: 2008
- Authors: Lottering, Tony
- Date: 2008
- Subjects: Recycling (Waste, etc.) -- South Africa , Refuse and refuse disposal -- South Africa , Telecommunication -- Equipment and supplies -- Environmental aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8993 , http://hdl.handle.net/10948/808 , Recycling (Waste, etc.) -- South Africa , Refuse and refuse disposal -- South Africa , Telecommunication -- Equipment and supplies -- Environmental aspects
- Description: South African manufacturers, including those who produce electrical and telecommunication cables, are required by the National Waste Management Strategy (NWMS) (drawn up by the Department of Environmental Affairs and Tourism (DEAT)), to carry out waste management in a coordinated and controlled manner. It is also becoming more difficult for South African companies, who produce for export markets, to conduct business internationally if they do not have some form of environmental management system in place. While there will always be scrap generated in any manufacturing environment, the aim is, first and foremost, to reduce this to acceptable levels and, secondly, to dispose of all scrap produced in a socially responsible manner. This study focuses attention on waste management, in the form of recycling, in the cable manufacturing industry. The purpose of this study is twofold: first, to examine the economic case, by means of a cost-benefit analysis, for the establishment and operation of a telecommunication cable waste recycling plant for the purpose of recycling copper conductor; second, to examine the economic feasibility, by means of a cost-benefit analysis, of extending the existing facility in order to accommodate the recycling of the plastic fraction contained in the cable waste. A specific cost-benefit stream was generated over a project period of 20 years for both CBAs. In both CBAs costs and benefits were categorised as being either primary or secondary. The primary costs and benefits for both CBAs were all financial in nature and were valued using market prices. The secondary costs of establishing and operating a cable waste recycling plant for recycling the copper conductor included effluent costs and noise pollution costs. The secondary benefits, on the other hand, included the creation of downstream industries. The secondary costs of extending an existing cable waste recycling plant, so as to accommodate the recycling of the plastic component of cable waste, included costs related to the generation of greenhouse gases and asthma. The secondary benefits, conversely, included the increase in house prices due to the reduction of landfilling of the plastic component of cable waste. The determination of increased house prices due to landfill avoidance was carried out using the hedonic pricing method (HPM). The hypothesis was that house values would increase the further removed they were from the landfill site. Applying regression analysis to the derived hedonic pricing (HP) function showed that there is a definite correlation between the two. Properties positioned two kilometres from a landfill site in New Brighton Port Elizabeth, Eastern Cape, were found to have higher values than those positioned adjacent to the site. From the cost-benefit streams, net benefits were calculated for each CBA and discounted to present values in order to provide a standard of comparison. The social discount rate used in this study to calculate the present values reflected a combination of the social opportunity costs of capital and the social time preference rate. The rate used was calculated as the average annual rate between 2000 and 2005 and amounted to 6.72 percent. It was derived from a combination of the opportunity costs of government borrowings, household consumption borrowings and return on savings.
- Full Text:
- Date Issued: 2008
An empirical analysis of the determinants and growth of South African exports
- Authors: Choga, Ireen
- Date: 2008
- Subjects: Exports -- South Africa -- History , Export marketing -- South Africa , International trade -- South Africa , Exports -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11452 , http://hdl.handle.net/10353/198 , Exports -- South Africa -- History , Export marketing -- South Africa , International trade -- South Africa , Exports -- South Africa
- Description: Exports have considerable effects on economic growth, employment and trade so it is crucial to understand the factors that are responsible for their variation. This study analyses the fundamental determinants of exports using annual South African data covering the period 1980 to 2006. It initially provides an overview of the South African export structure and export growth. A review of theoretical determinants is then specified. The study tests for stationarity and cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is run to provide robust determinant variables on exports. The following variables which have been found to have a long run relationship with exports include: the domestic price of exports, real effective exchange rate, trade openness, foreign income and price of inputs (cost of production). The estimate of the speed of adjustment coefficient found in this study indicates that about 96% of the variation in exports from its equilibrium level is corrected within one year. The results that have emerged from this analysis corroborate the theoretical predictions and are also supported by previous researchers or studies.
- Full Text:
- Date Issued: 2008
- Authors: Choga, Ireen
- Date: 2008
- Subjects: Exports -- South Africa -- History , Export marketing -- South Africa , International trade -- South Africa , Exports -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11452 , http://hdl.handle.net/10353/198 , Exports -- South Africa -- History , Export marketing -- South Africa , International trade -- South Africa , Exports -- South Africa
- Description: Exports have considerable effects on economic growth, employment and trade so it is crucial to understand the factors that are responsible for their variation. This study analyses the fundamental determinants of exports using annual South African data covering the period 1980 to 2006. It initially provides an overview of the South African export structure and export growth. A review of theoretical determinants is then specified. The study tests for stationarity and cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is run to provide robust determinant variables on exports. The following variables which have been found to have a long run relationship with exports include: the domestic price of exports, real effective exchange rate, trade openness, foreign income and price of inputs (cost of production). The estimate of the speed of adjustment coefficient found in this study indicates that about 96% of the variation in exports from its equilibrium level is corrected within one year. The results that have emerged from this analysis corroborate the theoretical predictions and are also supported by previous researchers or studies.
- Full Text:
- Date Issued: 2008
An empirical analysis of the long-run comovement, dynamic returns linkages and volatility transmission between the world major and the South African stock markets
- Authors: Chinzara, Zivanemoyo
- Date: 2008
- Subjects: Stock exchanges -- South Africa , Globalization -- Economic aspects -- South Africa , International economic relations , Portfolio management -- South Africa , Monetary policy -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:970 , http://hdl.handle.net/10962/d1002704 , Stock exchanges -- South Africa , Globalization -- Economic aspects -- South Africa , International economic relations , Portfolio management -- South Africa , Monetary policy -- South Africa
- Description: The international linkages of stock markets have important implications for cost of capital and portfolio diversification. Recent trends in globalization, financial liberalization and financial innovation raises questions with regard to whether African stock markets are being integrated into world equity markets. This study examines the extent to which the South African (SA) equity market is integrated into the world equity markets using daily data for the period 1995-2007. The study is divided into three main parts, each looking at the different ways in which integration can be considered. The first investigates whether there is long run comovement between the SA and the major global equity markets. Both bivariate and multivariate Johansen (1988) and Johansen and Juselius (1990) cointegration approaches were utilised. Vector Error Correction Models (VECMs) are then estimated for portfolios which show evidence of cointegration. The second part analyses returns linkages using the Vector Autoregressive (VAR), block exogeneity, impulse response and variance decomposition. The third part examines the behaviour of volatility and volatility linkages among the stock markets. Firstly volatility is analysed using the GARCH, EGARCH and GJR GARCH. Simultaneously, the hypothesis that investors receive a premium for investing in more risky stock markets is explored using the GARCH-in mean. The long term trend of volatility is also examined. Volatility linkages are then analysed using the VAR, block exogeneity, impulse response and variance decomposition. The first part established that no bivariate cointegration exists between the SA and any of the stock markets being studied, implying that pairwise portfolio diversification is potentially worthwhile for SA portfolio managers. However, multivariate cointegration exists for some portfolios, with the US, UK, Germany and SA showing evidence of error correction for some of these portfolios. Findings on return linkages is that there are significant returns linkages among the markets, with the US and SA being the most exogenous and most endogenous respectively. Findings regarding volatility are that the volatility in all the markets is inherently asymmetric and that except for the US there is no risk premium in any of the markets. The long term trend of volatility in all the stock markets was found to be relatively stable. The final finding was that significant volatility linkages exist among the markets, with the US being the most exogenous and SA and China showing evidence of bidirectional linkages. Overall, except for volatility linkages, the integration of SA into the global equity markets is still quite low. Thus, both SA and international investors can capitalise on this portfolio diversification potential. On the other hand, policy makers should capitalise on this and make policies that will attract the much needed foreign investors.
- Full Text:
- Date Issued: 2008
- Authors: Chinzara, Zivanemoyo
- Date: 2008
- Subjects: Stock exchanges -- South Africa , Globalization -- Economic aspects -- South Africa , International economic relations , Portfolio management -- South Africa , Monetary policy -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:970 , http://hdl.handle.net/10962/d1002704 , Stock exchanges -- South Africa , Globalization -- Economic aspects -- South Africa , International economic relations , Portfolio management -- South Africa , Monetary policy -- South Africa
- Description: The international linkages of stock markets have important implications for cost of capital and portfolio diversification. Recent trends in globalization, financial liberalization and financial innovation raises questions with regard to whether African stock markets are being integrated into world equity markets. This study examines the extent to which the South African (SA) equity market is integrated into the world equity markets using daily data for the period 1995-2007. The study is divided into three main parts, each looking at the different ways in which integration can be considered. The first investigates whether there is long run comovement between the SA and the major global equity markets. Both bivariate and multivariate Johansen (1988) and Johansen and Juselius (1990) cointegration approaches were utilised. Vector Error Correction Models (VECMs) are then estimated for portfolios which show evidence of cointegration. The second part analyses returns linkages using the Vector Autoregressive (VAR), block exogeneity, impulse response and variance decomposition. The third part examines the behaviour of volatility and volatility linkages among the stock markets. Firstly volatility is analysed using the GARCH, EGARCH and GJR GARCH. Simultaneously, the hypothesis that investors receive a premium for investing in more risky stock markets is explored using the GARCH-in mean. The long term trend of volatility is also examined. Volatility linkages are then analysed using the VAR, block exogeneity, impulse response and variance decomposition. The first part established that no bivariate cointegration exists between the SA and any of the stock markets being studied, implying that pairwise portfolio diversification is potentially worthwhile for SA portfolio managers. However, multivariate cointegration exists for some portfolios, with the US, UK, Germany and SA showing evidence of error correction for some of these portfolios. Findings on return linkages is that there are significant returns linkages among the markets, with the US and SA being the most exogenous and most endogenous respectively. Findings regarding volatility are that the volatility in all the markets is inherently asymmetric and that except for the US there is no risk premium in any of the markets. The long term trend of volatility in all the stock markets was found to be relatively stable. The final finding was that significant volatility linkages exist among the markets, with the US being the most exogenous and SA and China showing evidence of bidirectional linkages. Overall, except for volatility linkages, the integration of SA into the global equity markets is still quite low. Thus, both SA and international investors can capitalise on this portfolio diversification potential. On the other hand, policy makers should capitalise on this and make policies that will attract the much needed foreign investors.
- Full Text:
- Date Issued: 2008
An empirical investigation into the factors affecting the performance of small and medium enterprises in the manufacturing sector of Harare, Zimbabwe
- Authors: Zindiye, Stanislous
- Date: 2008
- Subjects: Business enterprises -- Zimbabwe , Government business enterprises -- Zimbabwe
- Language: English
- Type: Thesis , Masters , M Com (Business Management)
- Identifier: vital:11319 , http://hdl.handle.net/10353/128 , Business enterprises -- Zimbabwe , Government business enterprises -- Zimbabwe
- Description: This research investigates the factors that affect the performance of Small and Medium Enterprises (SMEs) in the manufacturing sector of Harare, Zimbabwe. To achieve this objective, the research hypothesised that a lack of skilled human resources contributes to the poor performance of SMEs in the manufacturing sector of Harare, Zimbabwe. The research further hypothesized that poor management skills such as human resources, financial management, general management, production management and marketing management result in the poor performance of SMEs in the manufacturing sector of Harare, Zimbabwe. A research proposition was also stated which stipulated that the current hyperinflation environment affects the profitability of SMEs in the manufacturing sector of Harare in terms of profitability. This study is important because SMEs, despite their contributions to the Zimbabwean economy, have not been given due attention as the research of performance has been biased towards large enterprises. The results indicate that managerial aspects which are in short supply have negative effects on the performance of SMEs in the manufacturing sector. The results also indicate that the high rate of inflation and other economic factors such as foreign currency shortage, interest rate and exchange rate affect their performance negatively. Lastly, the study recommends that SMEs, the Zimbabwean government and other supporting institutions such Empretec, ILO and SEDCO take measures to ensure the survival, growth and development of this sector which has the potential to steer the economy. These measures are expected to improve the managerial skills in the SME sector and consequently result in improved performance.
- Full Text:
- Date Issued: 2008
- Authors: Zindiye, Stanislous
- Date: 2008
- Subjects: Business enterprises -- Zimbabwe , Government business enterprises -- Zimbabwe
- Language: English
- Type: Thesis , Masters , M Com (Business Management)
- Identifier: vital:11319 , http://hdl.handle.net/10353/128 , Business enterprises -- Zimbabwe , Government business enterprises -- Zimbabwe
- Description: This research investigates the factors that affect the performance of Small and Medium Enterprises (SMEs) in the manufacturing sector of Harare, Zimbabwe. To achieve this objective, the research hypothesised that a lack of skilled human resources contributes to the poor performance of SMEs in the manufacturing sector of Harare, Zimbabwe. The research further hypothesized that poor management skills such as human resources, financial management, general management, production management and marketing management result in the poor performance of SMEs in the manufacturing sector of Harare, Zimbabwe. A research proposition was also stated which stipulated that the current hyperinflation environment affects the profitability of SMEs in the manufacturing sector of Harare in terms of profitability. This study is important because SMEs, despite their contributions to the Zimbabwean economy, have not been given due attention as the research of performance has been biased towards large enterprises. The results indicate that managerial aspects which are in short supply have negative effects on the performance of SMEs in the manufacturing sector. The results also indicate that the high rate of inflation and other economic factors such as foreign currency shortage, interest rate and exchange rate affect their performance negatively. Lastly, the study recommends that SMEs, the Zimbabwean government and other supporting institutions such Empretec, ILO and SEDCO take measures to ensure the survival, growth and development of this sector which has the potential to steer the economy. These measures are expected to improve the managerial skills in the SME sector and consequently result in improved performance.
- Full Text:
- Date Issued: 2008
An evaluation of how dividend policies impact on the share value of selected companies
- Authors: Barman, Graham Paul
- Date: 2008
- Subjects: Dividends , Corporations -- Valuation
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8976 , http://hdl.handle.net/10948/806 , Dividends , Corporations -- Valuation
- Description: Wealth maximisation for shareholders is a combination of dividend payouts and an increase in share price. Management, as custodians of shareholder interest, should therefore consciously work towards influencing the share price favourably. The purpose of this study is to examine and analyse, through an empirical study, dividend policy and the effect, if any, it has on the value of shares by conducting a survey among financial managers to measure their views regarding dividends and share value and to either validate or disprove the academic explanation of the practice of paying dividends.
- Full Text:
- Date Issued: 2008
- Authors: Barman, Graham Paul
- Date: 2008
- Subjects: Dividends , Corporations -- Valuation
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8976 , http://hdl.handle.net/10948/806 , Dividends , Corporations -- Valuation
- Description: Wealth maximisation for shareholders is a combination of dividend payouts and an increase in share price. Management, as custodians of shareholder interest, should therefore consciously work towards influencing the share price favourably. The purpose of this study is to examine and analyse, through an empirical study, dividend policy and the effect, if any, it has on the value of shares by conducting a survey among financial managers to measure their views regarding dividends and share value and to either validate or disprove the academic explanation of the practice of paying dividends.
- Full Text:
- Date Issued: 2008