An economic analysis of concentrator photovoltaic technology use in South Africa: a case study
- Authors: Beukes, Justin
- Date: 2013
- Subjects: Renewable energy resources , Power resources -- Economic aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9017 , http://hdl.handle.net/10948/d1018636
- Description: South Africa relies heavily on fossil fuels, particularly coal, to generate electricity and it is a well known fact that the use of fossil fuels contributes to climate change, as it produces greenhouse gases (GHGs). In fact, internationally South Africa is the 17th highest emitter of GHGs (Congressional Research Service (CRS), 2008). Coupled with the environmental consequences of fossil fuel use, South Africa has a further responsibility of addressing the inherited backlog of electricity provision to the rural, and previously disadvantaged communities. In an attempt to address these two problems, the government issued the White Paper on Renewable Energy. In this paper, renewable energy alternatives are proposed to replace a portion of traditional electricity generating methods. Concentrator photovoltaic (CPV) energy generation is one such renewable option available to government. CPV uses optic elements (such as lenses) to concentrate sunlight onto solar cells. Owing to the light being concentrated, the cells in CPV use less semiconductor material, which makes them more efficient in comparison to conventional photovoltaic (PV) cells. CPV is a technology that operates well in regions with high solar radiation. As such, South Africa is particularly well suited for this technology, with average solar radiation levels ranging from 4.5 to 6.5 05 ℎ/. CPV is also well suited for off-grid application, which addresses electricity demand in remote rural areas. This study is an economic project analysis of the installation, operation, maintenance, and decommissioning of CPV technology in a rural area in the Eastern Cape, South Africa. The study area chosen for this purpose is the Tyefu settlement in the Eastern Cape. Tyefu was deemed ideal for this type of analysis due to four characteristics. Firstly, Tyefu is a remote rural settlement at the end of the national grid. Secondly, the community is very poor and previously disadvantaged. Thirdly, many households are without Eskom generated electricity. Lastly, the study area is located in an area with ideal irradiance levels for CPV. Two methods of economic project analysis are applied to this case study, namely a costbenefit analysis (CBA) and a cost-effectiveness analysis (CEA). Additionally, two types of CBA are performed, namely a private CBA and a social CBA. The private CBA evaluates the Tyefu electrification project from a private investor's perspective and the social CBA evaluates the project from society's point of view. The CEAs carried out compare the costeffectiveness of the traditional PV technology to that of CPV in terms of private and social costs. The private costs and benefits of the CPV project were identified and valued in terms of market prices. Then, this cost benefit profile was used to calculate net benefits which in turn were discounted to present values using a private discount rate of 6.42 percent. Three decision making criteria were generated, namely the net present value (NPV), the internal rate of return (IRR) and the benefit cost ratio (BCR). Sensitivity analysis was carried out by varying the private discount rate and the bidding price. The social costs and benefits of the CPV project were identified and valued in terms of shadow prices. This cost benefit profile was used to calculate net benefits. The net benefits were discounted to present values using a composite social discount rate equal to 5.97 percent. The same decision making criteria used in the private CBA were used in the social CBA and a sensitivity analysis was completed by varying the social discount rate. In terms of the private CEA, the costs were identified and valued in terms of market prices. All costs were brought to present values using the private discount rate of 6.42 percent. In terms of the social CEA, the costs were identified and valued in terms of shadow prices. All costs were brought to present values using the social discount rate of 5.97 percent. The cost-effectiveness (CE) ratios calculated have identical denominators since the annual output for both technologies are identical - both CPV and PV systems deliver 30 300 kWh per annum. This output is based on the demand of the given case study. The private CBA showed unfavourable results. The private CBA has a NPV of R2 046 629.01, the IRR is undefined (this is due to no sign change being present in the cost benefit profile), and has a BCR of 0.365. However, the social CBA yielded positive results, with a NPV of R125 616.64, an IRR of 8 percent (which exceeds the social discount rate of 5.97 percent), and a BCR of 1.045. The CEA showed that the CPV is more cost-effective than the traditional PV both in terms of private and social costs. The private CE ratio of CPV is R4.23/kWh compared to PV's CE ratio of R4.39/kWh. Similarly, the social CE ratio of CPV is R3.51/kWh compared to PV's CE ratio of R3.69/kWh. CPV rollout appears to be socially efficient on a small scale according to the social CBA. Consequently, the CPV project is not seen as desirable in terms of the private CBA as the benefit (income received per kWh) in the private analysis is too small to outweigh the costs of implementing and running a CPV plant in Tyefu. On the other hand, a redeeming factor is that CPV may be feasible privately, for large scale applications. A major reason for the CPV project not being appealing to private investors is that the maximum bidding price of R2.85/kWh (as at August 2011) is not high enough for private investors to undertake the CPV project. The sensitivity analysis of the bidding price showed that the bidding price of R2.85/kWh needs to be increased in the range of 250 percent (R7.13/kWh) and 300 percent (R8.55/kWh) for a great enough incentive to exist for private investors. It is thus recommended that policymakers take this into consideration when formulating policy. In terms of the social CBA, it is recommended that government undertake CPV projects of this kind, as it will be a socially desirable allocation of resources. If government were to pursue these types of projects, it is recommended that CPV be implemented as it is more cost effective than PV.
- Full Text:
- Date Issued: 2013
- Authors: Beukes, Justin
- Date: 2013
- Subjects: Renewable energy resources , Power resources -- Economic aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9017 , http://hdl.handle.net/10948/d1018636
- Description: South Africa relies heavily on fossil fuels, particularly coal, to generate electricity and it is a well known fact that the use of fossil fuels contributes to climate change, as it produces greenhouse gases (GHGs). In fact, internationally South Africa is the 17th highest emitter of GHGs (Congressional Research Service (CRS), 2008). Coupled with the environmental consequences of fossil fuel use, South Africa has a further responsibility of addressing the inherited backlog of electricity provision to the rural, and previously disadvantaged communities. In an attempt to address these two problems, the government issued the White Paper on Renewable Energy. In this paper, renewable energy alternatives are proposed to replace a portion of traditional electricity generating methods. Concentrator photovoltaic (CPV) energy generation is one such renewable option available to government. CPV uses optic elements (such as lenses) to concentrate sunlight onto solar cells. Owing to the light being concentrated, the cells in CPV use less semiconductor material, which makes them more efficient in comparison to conventional photovoltaic (PV) cells. CPV is a technology that operates well in regions with high solar radiation. As such, South Africa is particularly well suited for this technology, with average solar radiation levels ranging from 4.5 to 6.5 05 ℎ/. CPV is also well suited for off-grid application, which addresses electricity demand in remote rural areas. This study is an economic project analysis of the installation, operation, maintenance, and decommissioning of CPV technology in a rural area in the Eastern Cape, South Africa. The study area chosen for this purpose is the Tyefu settlement in the Eastern Cape. Tyefu was deemed ideal for this type of analysis due to four characteristics. Firstly, Tyefu is a remote rural settlement at the end of the national grid. Secondly, the community is very poor and previously disadvantaged. Thirdly, many households are without Eskom generated electricity. Lastly, the study area is located in an area with ideal irradiance levels for CPV. Two methods of economic project analysis are applied to this case study, namely a costbenefit analysis (CBA) and a cost-effectiveness analysis (CEA). Additionally, two types of CBA are performed, namely a private CBA and a social CBA. The private CBA evaluates the Tyefu electrification project from a private investor's perspective and the social CBA evaluates the project from society's point of view. The CEAs carried out compare the costeffectiveness of the traditional PV technology to that of CPV in terms of private and social costs. The private costs and benefits of the CPV project were identified and valued in terms of market prices. Then, this cost benefit profile was used to calculate net benefits which in turn were discounted to present values using a private discount rate of 6.42 percent. Three decision making criteria were generated, namely the net present value (NPV), the internal rate of return (IRR) and the benefit cost ratio (BCR). Sensitivity analysis was carried out by varying the private discount rate and the bidding price. The social costs and benefits of the CPV project were identified and valued in terms of shadow prices. This cost benefit profile was used to calculate net benefits. The net benefits were discounted to present values using a composite social discount rate equal to 5.97 percent. The same decision making criteria used in the private CBA were used in the social CBA and a sensitivity analysis was completed by varying the social discount rate. In terms of the private CEA, the costs were identified and valued in terms of market prices. All costs were brought to present values using the private discount rate of 6.42 percent. In terms of the social CEA, the costs were identified and valued in terms of shadow prices. All costs were brought to present values using the social discount rate of 5.97 percent. The cost-effectiveness (CE) ratios calculated have identical denominators since the annual output for both technologies are identical - both CPV and PV systems deliver 30 300 kWh per annum. This output is based on the demand of the given case study. The private CBA showed unfavourable results. The private CBA has a NPV of R2 046 629.01, the IRR is undefined (this is due to no sign change being present in the cost benefit profile), and has a BCR of 0.365. However, the social CBA yielded positive results, with a NPV of R125 616.64, an IRR of 8 percent (which exceeds the social discount rate of 5.97 percent), and a BCR of 1.045. The CEA showed that the CPV is more cost-effective than the traditional PV both in terms of private and social costs. The private CE ratio of CPV is R4.23/kWh compared to PV's CE ratio of R4.39/kWh. Similarly, the social CE ratio of CPV is R3.51/kWh compared to PV's CE ratio of R3.69/kWh. CPV rollout appears to be socially efficient on a small scale according to the social CBA. Consequently, the CPV project is not seen as desirable in terms of the private CBA as the benefit (income received per kWh) in the private analysis is too small to outweigh the costs of implementing and running a CPV plant in Tyefu. On the other hand, a redeeming factor is that CPV may be feasible privately, for large scale applications. A major reason for the CPV project not being appealing to private investors is that the maximum bidding price of R2.85/kWh (as at August 2011) is not high enough for private investors to undertake the CPV project. The sensitivity analysis of the bidding price showed that the bidding price of R2.85/kWh needs to be increased in the range of 250 percent (R7.13/kWh) and 300 percent (R8.55/kWh) for a great enough incentive to exist for private investors. It is thus recommended that policymakers take this into consideration when formulating policy. In terms of the social CBA, it is recommended that government undertake CPV projects of this kind, as it will be a socially desirable allocation of resources. If government were to pursue these types of projects, it is recommended that CPV be implemented as it is more cost effective than PV.
- Full Text:
- Date Issued: 2013
Factors influencing effective electronic word-of-mouth marketing
- Authors: Bhana, Lauren
- Date: 2017
- Subjects: Word-of-mouth advertising Internet marketing , Telemarketing Electronic commerce
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/14631 , vital:27806
- Description: Marketing serves to satisfy customer needs and wants while building strong customer relationships in an effort to gain value from customers in return. On understanding that customer satisfaction is needed for a business to survive and grow, the important role marketing plays within a business is emphasised as it contributes to overall business performance. Building relationships also emphasises the importance of communication within marketing. Traditional person-to-person word-of-mouth communication has always played a role in marketing a product or service. The evolution of technology over recent years has enabled electronic word-of-mouth (eWOM), which is frequently carried out and has proven to be another effective marketing tool. Due to the fundamental role that marketing plays within a business and the frequent use of electronic word-of-mouth as a marketing tool it is important that business owners and marketers are aware of the factors influencing the effectiveness of it. This study explores eWOM from a marketing perspective, through investigating the factors that contribute towards the effectiveness of eWOM as a marketing tool. Therefore the primary objective of the study was to investigate the factors influencing effective eWOM marketing. A quantitative research approach was followed to empirically test the hypotheses and determine whether relationships exist between the four independent variables (factors influencing eWOM) and the dependent variable (effective eWOM marketing). A self-administered, five-point Likert-scale style structured questionnaire was used to obtain the data. The sample for this study comprised of 360 consumer respondents within the Nelson Mandela Metropole. An exploratory factor analysis extracted four valid constructs namely feedback, trustworthiness, social status and networking as the factors influencing effective eWOM marketing. Cronbach’s alphas confirmed the reliability of all extracted constructs. Most correlation results indicated moderate associations between the variables. However, effective eWOM marketing proved to have a strong correlation with social status. The results of the multiple regressions for the factors influencing effective eWOM marketing identified three statistically significant relationships between feedback, social status, networking and effective eWOM marketing. MANOVAS confirmed eleven statistically significant relationships of which only three were of practical significance. Practical significant relationships exist between ethnic affiliation, current position, years working experience and social status. In addition to identifying the three specific factors influencing effective eWOM marketing, namely online feedback, the need to obtain social status and the desire to engage in online networking, this study has made several contributions, specifically to eWOM marketing. This study has recommended specific online marketing strategies to increase effective eWOM for online feedback, for individuals to obtain social status and to engage in online networking. The hypothesised model developed from the study, illustrating the three factors that influence effective eWOM marketing for South African consumers, can now be used by other researchers in other countries as a framework for further testing or for businesses/marketing organisations to obtain information on the attributes to pay attention to increase the effectiveness of their eWOM marketing. The role that demographics such as ethnic affiliation, position in the business and years working experience play in satisfying the need of individuals to obtain social status in an online setting via eWOM marketing, were also confirmed. Furthermore, this study has provided practical advice to businesses/marketing organisations on how to utilise this knowledge to their advantage when wishing to stimulate eWOM conversations about their products and services. The findings of the research will also assist businesses/marketing organisations to initiate eWOM engagement and communicate more effectively with consumers online to obtain information on how to improve on and change existing products/services or the need for new product/service offerings to retain customers, ensure continuous consumer satisfaction and increase business turnover.
- Full Text:
- Date Issued: 2017
- Authors: Bhana, Lauren
- Date: 2017
- Subjects: Word-of-mouth advertising Internet marketing , Telemarketing Electronic commerce
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/14631 , vital:27806
- Description: Marketing serves to satisfy customer needs and wants while building strong customer relationships in an effort to gain value from customers in return. On understanding that customer satisfaction is needed for a business to survive and grow, the important role marketing plays within a business is emphasised as it contributes to overall business performance. Building relationships also emphasises the importance of communication within marketing. Traditional person-to-person word-of-mouth communication has always played a role in marketing a product or service. The evolution of technology over recent years has enabled electronic word-of-mouth (eWOM), which is frequently carried out and has proven to be another effective marketing tool. Due to the fundamental role that marketing plays within a business and the frequent use of electronic word-of-mouth as a marketing tool it is important that business owners and marketers are aware of the factors influencing the effectiveness of it. This study explores eWOM from a marketing perspective, through investigating the factors that contribute towards the effectiveness of eWOM as a marketing tool. Therefore the primary objective of the study was to investigate the factors influencing effective eWOM marketing. A quantitative research approach was followed to empirically test the hypotheses and determine whether relationships exist between the four independent variables (factors influencing eWOM) and the dependent variable (effective eWOM marketing). A self-administered, five-point Likert-scale style structured questionnaire was used to obtain the data. The sample for this study comprised of 360 consumer respondents within the Nelson Mandela Metropole. An exploratory factor analysis extracted four valid constructs namely feedback, trustworthiness, social status and networking as the factors influencing effective eWOM marketing. Cronbach’s alphas confirmed the reliability of all extracted constructs. Most correlation results indicated moderate associations between the variables. However, effective eWOM marketing proved to have a strong correlation with social status. The results of the multiple regressions for the factors influencing effective eWOM marketing identified three statistically significant relationships between feedback, social status, networking and effective eWOM marketing. MANOVAS confirmed eleven statistically significant relationships of which only three were of practical significance. Practical significant relationships exist between ethnic affiliation, current position, years working experience and social status. In addition to identifying the three specific factors influencing effective eWOM marketing, namely online feedback, the need to obtain social status and the desire to engage in online networking, this study has made several contributions, specifically to eWOM marketing. This study has recommended specific online marketing strategies to increase effective eWOM for online feedback, for individuals to obtain social status and to engage in online networking. The hypothesised model developed from the study, illustrating the three factors that influence effective eWOM marketing for South African consumers, can now be used by other researchers in other countries as a framework for further testing or for businesses/marketing organisations to obtain information on the attributes to pay attention to increase the effectiveness of their eWOM marketing. The role that demographics such as ethnic affiliation, position in the business and years working experience play in satisfying the need of individuals to obtain social status in an online setting via eWOM marketing, were also confirmed. Furthermore, this study has provided practical advice to businesses/marketing organisations on how to utilise this knowledge to their advantage when wishing to stimulate eWOM conversations about their products and services. The findings of the research will also assist businesses/marketing organisations to initiate eWOM engagement and communicate more effectively with consumers online to obtain information on how to improve on and change existing products/services or the need for new product/service offerings to retain customers, ensure continuous consumer satisfaction and increase business turnover.
- Full Text:
- Date Issued: 2017
Financial integration in East Africa: evidence from interest rate pass-through analysis
- Authors: Bholla, Zohaib Salim
- Date: 2011
- Subjects: East African Community -- Economic integration East African Community -- Economic conditions -- 21st century Interest rates -- Africa, East Interest rates -- Econometric models -- Africa, East Interest rates -- Effect of inflation on -- Africa, East Banks and banking -- Africa, East
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1044 , http://hdl.handle.net/10962/d1006131
- Description: The successful launch of the European Monetary Union (EMU) raised an already ever growing interest in the economics of monetary integration and the formation of monetary unions around the world. Following the EMU experience, countries have considered forming a monetary union amongst themselves. The East African Community (EAC), comprising the three original member countries Kenya, Tanzania and Uganda and now including Burundi and Rwanda, is an example of such a group of countries that seek to form a monetary union. This study aims to identify the current level of financial integration amongst the East African countries. In order to do so the study examines whether the pass-through of monetary policy in the five countries has become similar over time. This is to provide an indication of the extent to which the nominal convergence criteria amongst the member countries have been met. The results of the study provide an indication of whether the formation of a monetary union in East Africa is possible. The empirical analysis used in this study included stationarity tests, four tests of co integration and an asymmetric error correction model to investigate whether the pass-through of monetary policy transmission in the five countries has become more similar over the ten year sample period from 1999 to 2008. The analysis uses three interest rates and 6-year rolling windows to identify the extent of macroeconomic convergence that prevails within the EAC, and consequently whether the formation of a monetary union is possible. The results suggest that the magnitude of the convergence amongst the countries remain low and there are significant rigidities in the deposit and lending rates over time, however the passthrough has improved with respect to the lending rate but not the deposit rate. The overall conclusion of the study suggests that an EAC wide monetary union is currently not possible based on the evidence provided from the pass-through analysis.
- Full Text:
- Date Issued: 2011
- Authors: Bholla, Zohaib Salim
- Date: 2011
- Subjects: East African Community -- Economic integration East African Community -- Economic conditions -- 21st century Interest rates -- Africa, East Interest rates -- Econometric models -- Africa, East Interest rates -- Effect of inflation on -- Africa, East Banks and banking -- Africa, East
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1044 , http://hdl.handle.net/10962/d1006131
- Description: The successful launch of the European Monetary Union (EMU) raised an already ever growing interest in the economics of monetary integration and the formation of monetary unions around the world. Following the EMU experience, countries have considered forming a monetary union amongst themselves. The East African Community (EAC), comprising the three original member countries Kenya, Tanzania and Uganda and now including Burundi and Rwanda, is an example of such a group of countries that seek to form a monetary union. This study aims to identify the current level of financial integration amongst the East African countries. In order to do so the study examines whether the pass-through of monetary policy in the five countries has become similar over time. This is to provide an indication of the extent to which the nominal convergence criteria amongst the member countries have been met. The results of the study provide an indication of whether the formation of a monetary union in East Africa is possible. The empirical analysis used in this study included stationarity tests, four tests of co integration and an asymmetric error correction model to investigate whether the pass-through of monetary policy transmission in the five countries has become more similar over the ten year sample period from 1999 to 2008. The analysis uses three interest rates and 6-year rolling windows to identify the extent of macroeconomic convergence that prevails within the EAC, and consequently whether the formation of a monetary union is possible. The results suggest that the magnitude of the convergence amongst the countries remain low and there are significant rigidities in the deposit and lending rates over time, however the passthrough has improved with respect to the lending rate but not the deposit rate. The overall conclusion of the study suggests that an EAC wide monetary union is currently not possible based on the evidence provided from the pass-through analysis.
- Full Text:
- Date Issued: 2011
The role of emotional awareness in the retirement transition
- Authors: Black, Beverley Mary
- Date: 2016
- Subjects: Retirement -- Psychological aspects , Aging -- Psychological aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5645 , vital:20947
- Description: This study examines the role of emotional awareness in the retirement transition. Retirement is viewed as one of the transitions in later life and has psychological consequences. It is an objective development and social-psychological transformation that is related to physical and psychological well-being. Research has shown that emotional awareness can have an impact on the retirement transition. A correlational research survey design was used for this study to determine and establish the role of emotional awareness, preparation and emotional responses in the retirement transition. Using a five-point Likert Scale, respondents were asked to score their responses to twenty-eight items. The questionnaire was distributed to retirees on the data bases of two financial companies that manage retirement funds. The SurveyMonkey application was used to distribute the survey to one financial company’s data base, and email was used for the other. Statistics such as means, relationships between factors, Cronbach’s Alpha, Pearson’s Product Moment Correlation and descriptive statistics were used to analyse the data. The findings of this study demonstrate inconclusive evidence of emotional awareness in retirement. In addition to this, there were no significant findings regarding preparation for retirement or emotional response to retirement which indicates a neutral attitude to preparation and retirement, on average. There is a need for further future studies that include a more balanced sample representation of men and women, a comparative study based on different cultures to determine if differences exist in the experience of emotions in the retirement transition, and a field study in retirement homes and villages to corroborate the findings of this study.
- Full Text:
- Date Issued: 2016
- Authors: Black, Beverley Mary
- Date: 2016
- Subjects: Retirement -- Psychological aspects , Aging -- Psychological aspects
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/5645 , vital:20947
- Description: This study examines the role of emotional awareness in the retirement transition. Retirement is viewed as one of the transitions in later life and has psychological consequences. It is an objective development and social-psychological transformation that is related to physical and psychological well-being. Research has shown that emotional awareness can have an impact on the retirement transition. A correlational research survey design was used for this study to determine and establish the role of emotional awareness, preparation and emotional responses in the retirement transition. Using a five-point Likert Scale, respondents were asked to score their responses to twenty-eight items. The questionnaire was distributed to retirees on the data bases of two financial companies that manage retirement funds. The SurveyMonkey application was used to distribute the survey to one financial company’s data base, and email was used for the other. Statistics such as means, relationships between factors, Cronbach’s Alpha, Pearson’s Product Moment Correlation and descriptive statistics were used to analyse the data. The findings of this study demonstrate inconclusive evidence of emotional awareness in retirement. In addition to this, there were no significant findings regarding preparation for retirement or emotional response to retirement which indicates a neutral attitude to preparation and retirement, on average. There is a need for further future studies that include a more balanced sample representation of men and women, a comparative study based on different cultures to determine if differences exist in the experience of emotions in the retirement transition, and a field study in retirement homes and villages to corroborate the findings of this study.
- Full Text:
- Date Issued: 2016
A critical assessment of team building as a tourism offering in the Eastern Cape
- Authors: Blumel, Astrid
- Date: 2016
- Subjects: Social responsibility of business -- South Africa -- Eastern Cape , Tourism -- Marketing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6225 , vital:21057
- Description: This study researched team building as a tourism offering. Team building has particular potential to benefit tourism in the Western Region of the Eastern Cape. Team building has grown in popularity and is offered by several tourism operators in the Western Region of the Eastern Cape. Team building can be practiced throughout the year by the use of numerous indoor and outdoor activities thereby attracting participants and tourists. The activity involves a wide range of tourism-related services and facilities which shows its potential value as tourism resource. The research methodology for this study aimed to identify the link between team building and tourism. Additionally, the study draws attention to team buildings possible socio-economic value which is added to a tourism business’s offering range and its effect on the host destination. A survey was conducted among a randomly selected target population representing role-players involved in team building and tourism activities, for which a questionnaire was developed by adapting the SERVPERF model. This enabled the researcher to identify the team building participants’ level of satisfaction with the team building operator, activity and host destination. Emerging from the gained insight into the dynamics between team building offerings and tourism businesses, recommendations have been formulated as to the relevance of team building for a tourism businesses’ offering range and the impact on the host destination. The research study identified numerous beneficial spin-off effects for the Western Region of the Eastern Cape driven from team building activities. These benefits were an increase in awareness of the destination, improved image of the Western Region of the Eastern Cape, and tourist engagement in other tourism offerings during their stay at the destination, among others.
- Full Text:
- Date Issued: 2016
- Authors: Blumel, Astrid
- Date: 2016
- Subjects: Social responsibility of business -- South Africa -- Eastern Cape , Tourism -- Marketing
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/6225 , vital:21057
- Description: This study researched team building as a tourism offering. Team building has particular potential to benefit tourism in the Western Region of the Eastern Cape. Team building has grown in popularity and is offered by several tourism operators in the Western Region of the Eastern Cape. Team building can be practiced throughout the year by the use of numerous indoor and outdoor activities thereby attracting participants and tourists. The activity involves a wide range of tourism-related services and facilities which shows its potential value as tourism resource. The research methodology for this study aimed to identify the link between team building and tourism. Additionally, the study draws attention to team buildings possible socio-economic value which is added to a tourism business’s offering range and its effect on the host destination. A survey was conducted among a randomly selected target population representing role-players involved in team building and tourism activities, for which a questionnaire was developed by adapting the SERVPERF model. This enabled the researcher to identify the team building participants’ level of satisfaction with the team building operator, activity and host destination. Emerging from the gained insight into the dynamics between team building offerings and tourism businesses, recommendations have been formulated as to the relevance of team building for a tourism businesses’ offering range and the impact on the host destination. The research study identified numerous beneficial spin-off effects for the Western Region of the Eastern Cape driven from team building activities. These benefits were an increase in awareness of the destination, improved image of the Western Region of the Eastern Cape, and tourist engagement in other tourism offerings during their stay at the destination, among others.
- Full Text:
- Date Issued: 2016
The interrelationships between foreign direct investment and economic growth in Africa
- Authors: Bolani, Lindelwa Mandisa
- Date: 2015
- Subjects: Investments, Foreign -- Africa , Economic development -- Africa , Africa -- Economic conditions -- 1960- , Africa -- Foreign economic relations , Gross domestic product -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1123 , http://hdl.handle.net/10962/d1019885
- Description: There has been a long search for the keys to development and economic growth in Africa. This study investigates the relationship between FDI and economic growth over the period 2000-2012 using data from 48 African countries. On the aggregate regional level FDI and economic growth were found to be positively correlated during this period. Using panel data econometric techniques and the Panel Granger Causality test, results revealed that a bi-directional causality relationship existed between FDI and GDP. Thus, the results suggest that GDP is a requirement for increased investment, and at the same time is the result of increased foreign investment. Thus, the conclusion is that African policy makers are justified in increasing their attempts to create an attractive business environment for foreign investors, as it is beneficial for economic growth.
- Full Text:
- Date Issued: 2015
- Authors: Bolani, Lindelwa Mandisa
- Date: 2015
- Subjects: Investments, Foreign -- Africa , Economic development -- Africa , Africa -- Economic conditions -- 1960- , Africa -- Foreign economic relations , Gross domestic product -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1123 , http://hdl.handle.net/10962/d1019885
- Description: There has been a long search for the keys to development and economic growth in Africa. This study investigates the relationship between FDI and economic growth over the period 2000-2012 using data from 48 African countries. On the aggregate regional level FDI and economic growth were found to be positively correlated during this period. Using panel data econometric techniques and the Panel Granger Causality test, results revealed that a bi-directional causality relationship existed between FDI and GDP. Thus, the results suggest that GDP is a requirement for increased investment, and at the same time is the result of increased foreign investment. Thus, the conclusion is that African policy makers are justified in increasing their attempts to create an attractive business environment for foreign investors, as it is beneficial for economic growth.
- Full Text:
- Date Issued: 2015
Ideas and power: shaping monetary policy in South Africa 1919-1936
- Authors: Bordiss, Bradley John
- Date: 2014
- Subjects: Monetary policy -- South Africa -- 1919-1936 Economic development -- South Africa -- 1919-1936 Economics -- South Africa -- History Economics -- Philosophy South Africa -- Economic policy -- 1919-1936 South Africa -- Foreign economic relations -- 1919-1936 Great Britain -- Foreign economic relations -- 1919-1936 Great Britain -- Economic policy -- 1918-1945
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1084 , http://hdl.handle.net/10962/d1011605
- Description: In the concluding paragraphs of Keynes’ General Theory, Keynes suggests that vested interests (power) may dominate in the short term, but that “sooner or later, it is ideas, not vested interests, which are dangerous for good or evil” (Keynes; 1936:384). This dissertation seeks to establish whether this is so, and to what extent, in the period 1919 to 1936, insofar as the shaping of monetary policy was concerned. The context that South Africa found itself in at the time was one in which Britain, the colonising power, was in economic decline. Britain’s real economy had lost its lead in the world in the late 1800s, and by our period, 1919 – 1936, she was now struggling to maintain her dominance of the world’s financial economy. South African gold flows to London, and a South African monetary policy supportive of British monetary policy, became more important than ever to Britain. On the back of its ascendant real economy, the United States of America was fast developing its financial sector as a rival to that centered on London. In the broader monetary policy world, the orthodox monetary regime of the Gold Standard, which had worked so well in the period from 1875 to 1914, was firstly difficult to reestablish, and once established, difficult to maintain. Opinion on what should be done was divided between the majority who favoured a return to the orthodoxy, and a much smaller group, including John Maynard Keynes, who argued that the Gold Standard should no longer be the preferred monetary system. In South Africa, our period starts 17 years after the Second Boer War. Afrikaner nationalists intent on establishing independence from Britain, competed with those, including Jan Christiaan Smuts, who believed that tying our policy up with that of the British Empire was the best for South Africa. It is in this context that a naturalised Briton, which the research shows was a loyal servant of the London power elite, was appointed by the Empire-friendly Smuts government to advise the South African government on monetary policy, the setting up of the South African Reserve Bank, the appointment of its first Governor and other matters in the period up until the fall of this government in 1924. It is also in this context that an American ‘Currency Doctor’ and Professor of Economics at Princeton University, which the research shows was intimately connected with the American government and Benjamin Strong at the Federal Reserve, was appointed by the Pact government later in 1924, and who was anxious to throw off the yoke of British control. The theoretical paradigm of this study is that developed by John Maynard Keynes and after him by the post-Keynesian economists, particularly Basil Moore and Hyman P. Minsky. Instead of considering the theory chronologically, book by book, the theory section deals with the subject matter in the themes which came up in the monetary policy debates of the time, looking at all the theoretical literature that applied to these various themes. Aside from the correction of errors of emphasis and errors of fact dealt with in chapter two, chapter five of the dissertation is where most of the original research is reflected. This is the section which deals in depth with the experts that advised the South Africans at the time, how they came to be appointed, whose interests they served, what theories they used in support of their positions, and what was the decision-making process; from their appointment, until their reports were drafted into the law of the Union of South Africa. While Ally’s work (1994) is accepted as the principal work on the influence of the Bank of England, and Britain’s control of South African gold on South African gold and monetary policy, this dissertation claims legitimacy based on a much closer look at the motives and vested interests of the experts advising the South African government at the time. By the end of this chapter, I believe we are better placed to understand and analyse the relative influence of ideas and power on monetary policy in the period 1919 – 1936.
- Full Text:
- Date Issued: 2014
- Authors: Bordiss, Bradley John
- Date: 2014
- Subjects: Monetary policy -- South Africa -- 1919-1936 Economic development -- South Africa -- 1919-1936 Economics -- South Africa -- History Economics -- Philosophy South Africa -- Economic policy -- 1919-1936 South Africa -- Foreign economic relations -- 1919-1936 Great Britain -- Foreign economic relations -- 1919-1936 Great Britain -- Economic policy -- 1918-1945
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1084 , http://hdl.handle.net/10962/d1011605
- Description: In the concluding paragraphs of Keynes’ General Theory, Keynes suggests that vested interests (power) may dominate in the short term, but that “sooner or later, it is ideas, not vested interests, which are dangerous for good or evil” (Keynes; 1936:384). This dissertation seeks to establish whether this is so, and to what extent, in the period 1919 to 1936, insofar as the shaping of monetary policy was concerned. The context that South Africa found itself in at the time was one in which Britain, the colonising power, was in economic decline. Britain’s real economy had lost its lead in the world in the late 1800s, and by our period, 1919 – 1936, she was now struggling to maintain her dominance of the world’s financial economy. South African gold flows to London, and a South African monetary policy supportive of British monetary policy, became more important than ever to Britain. On the back of its ascendant real economy, the United States of America was fast developing its financial sector as a rival to that centered on London. In the broader monetary policy world, the orthodox monetary regime of the Gold Standard, which had worked so well in the period from 1875 to 1914, was firstly difficult to reestablish, and once established, difficult to maintain. Opinion on what should be done was divided between the majority who favoured a return to the orthodoxy, and a much smaller group, including John Maynard Keynes, who argued that the Gold Standard should no longer be the preferred monetary system. In South Africa, our period starts 17 years after the Second Boer War. Afrikaner nationalists intent on establishing independence from Britain, competed with those, including Jan Christiaan Smuts, who believed that tying our policy up with that of the British Empire was the best for South Africa. It is in this context that a naturalised Briton, which the research shows was a loyal servant of the London power elite, was appointed by the Empire-friendly Smuts government to advise the South African government on monetary policy, the setting up of the South African Reserve Bank, the appointment of its first Governor and other matters in the period up until the fall of this government in 1924. It is also in this context that an American ‘Currency Doctor’ and Professor of Economics at Princeton University, which the research shows was intimately connected with the American government and Benjamin Strong at the Federal Reserve, was appointed by the Pact government later in 1924, and who was anxious to throw off the yoke of British control. The theoretical paradigm of this study is that developed by John Maynard Keynes and after him by the post-Keynesian economists, particularly Basil Moore and Hyman P. Minsky. Instead of considering the theory chronologically, book by book, the theory section deals with the subject matter in the themes which came up in the monetary policy debates of the time, looking at all the theoretical literature that applied to these various themes. Aside from the correction of errors of emphasis and errors of fact dealt with in chapter two, chapter five of the dissertation is where most of the original research is reflected. This is the section which deals in depth with the experts that advised the South Africans at the time, how they came to be appointed, whose interests they served, what theories they used in support of their positions, and what was the decision-making process; from their appointment, until their reports were drafted into the law of the Union of South Africa. While Ally’s work (1994) is accepted as the principal work on the influence of the Bank of England, and Britain’s control of South African gold on South African gold and monetary policy, this dissertation claims legitimacy based on a much closer look at the motives and vested interests of the experts advising the South African government at the time. By the end of this chapter, I believe we are better placed to understand and analyse the relative influence of ideas and power on monetary policy in the period 1919 – 1936.
- Full Text:
- Date Issued: 2014
Work/family conflict across various life and career stages
- Authors: Bostock, Natalie Jean
- Date: 2014
- Subjects: Work and family , Work environment , Well-being
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9413 , http://hdl.handle.net/10948/d1020157
- Description: This study examines Work Family Conflict including Work Interferes with Family (WIF) conflict, Family Interferes with Work (FIW) conflict, role overload, role interference and the impact of children across various life and career stages. Much of the research in this area focuses on the differences in the way the genders experience Work Family Conflict. Research has shown that various life and career stages can have a marked impact on this type of conflict and this study aims to determine how individuals in the various life and career stages experience this conflict. A correlational research design was used for this study. Using a five point likert scale, participants were asked to score their responses to seventeen items. The instrument was based on Duxbury and Mills Measure of Work Family Conflict (1990) (in Handbook of Quality-of-Life Research: An Ethical Perspective by Sirgy, 2001) with the inclusion of two additional items due to their high face validity. The questionnaire was distributed to human resources managers in organisations, friends, family members and colleagues and friends, family members and colleagues of theirs. Most of the responses were scored using a pencil and paper technique and the remainder was distributed using a Surveymonkey application on social media platforms like Facebook and Linkedin. The overall sample size of respondents was 175. The raw data was entered on an excel spreadsheet and analysed using Statistica version 12 and Microsoft Excel applications with VBA macros developed by a consultant for the Nelson Mandela Metropolitan University Unit for Statistical Consultation. . Statistics such as means, Cronbach alpha’s, relationships between factors, descriptive statistics, MANOVA and Chi-squared tests were used to analyse the data. The results of this study demonstrate the need for organisations to take heed of the various challenges that individuals face in both the workplace and home environment and the different ways in which these are experienced across various life and career stages. This will enable them to design specific interventions to mitigate the effects of Work Family Conflict and improve employee’s level of performance.
- Full Text:
- Date Issued: 2014
- Authors: Bostock, Natalie Jean
- Date: 2014
- Subjects: Work and family , Work environment , Well-being
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9413 , http://hdl.handle.net/10948/d1020157
- Description: This study examines Work Family Conflict including Work Interferes with Family (WIF) conflict, Family Interferes with Work (FIW) conflict, role overload, role interference and the impact of children across various life and career stages. Much of the research in this area focuses on the differences in the way the genders experience Work Family Conflict. Research has shown that various life and career stages can have a marked impact on this type of conflict and this study aims to determine how individuals in the various life and career stages experience this conflict. A correlational research design was used for this study. Using a five point likert scale, participants were asked to score their responses to seventeen items. The instrument was based on Duxbury and Mills Measure of Work Family Conflict (1990) (in Handbook of Quality-of-Life Research: An Ethical Perspective by Sirgy, 2001) with the inclusion of two additional items due to their high face validity. The questionnaire was distributed to human resources managers in organisations, friends, family members and colleagues and friends, family members and colleagues of theirs. Most of the responses were scored using a pencil and paper technique and the remainder was distributed using a Surveymonkey application on social media platforms like Facebook and Linkedin. The overall sample size of respondents was 175. The raw data was entered on an excel spreadsheet and analysed using Statistica version 12 and Microsoft Excel applications with VBA macros developed by a consultant for the Nelson Mandela Metropolitan University Unit for Statistical Consultation. . Statistics such as means, Cronbach alpha’s, relationships between factors, descriptive statistics, MANOVA and Chi-squared tests were used to analyse the data. The results of this study demonstrate the need for organisations to take heed of the various challenges that individuals face in both the workplace and home environment and the different ways in which these are experienced across various life and career stages. This will enable them to design specific interventions to mitigate the effects of Work Family Conflict and improve employee’s level of performance.
- Full Text:
- Date Issued: 2014
Motivation and complexity : an exploration of a complexity approach in employee motivation with specific focus on a Lacanian model of desire
- Authors: Botha, Anton Ivan
- Date: 2010
- Subjects: Employee motivation , Employee morale , Incentive awards
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9400 , http://hdl.handle.net/10948/1232 , Employee motivation , Employee morale , Incentive awards
- Description: Since employee motivation contributes to overall organisational success, reliable motivation theory should inform management and reward practices. Yet, motivation theory is currently in a state of paralysis, with no constructive theorising taking place. Analysis of its methodological presuppositions reveals that it relies on out-dated binary thinking, prioritising, e.g. either a ‘machine-like’ (body driven) or ‘god-like’ (rationally driven) understanding of humanity. In this study it is argued that the revival of motivation theory requires a paradigmatic shift towards a complexity methodology because human motivation was found to be a complex system and must be theorised accordingly. It was found that McAdams’ theory of personality which brought together personality traits, conditioning, and motives could form the basis of a complex theory of motivation. On this basis, a complex model was developed which incorporated elements of existing motivational theories. This model proposed that drives, which motivate behaviour, are a combination of instincts, needs, and desires, mediated by personality traits, rational processing, and conditioning. All of these interconnected elements, as well as biological and environmental conditions, have an impact on, and are influenced by one another. For the purposes of understanding employee motivation the element of desire was isolated as a potential means to value segment employees. A Lacanian theory was utilised to elaborate on the element of desire. This theory postulated that individuals tend to display a dominance is one of nine kinds and modes of desire. An instrument was developed to test the applicability of the Lacanian model. It was developed in five phases which included three pilot studies and two samplings. A total of 591 respondents participated in the empirical research study with 428 in the first sample and 70 in the second; the remaining 93 made up the pilot studies. Unlike the initial version of the instrument used in the first sample (n=428) the data obtained by the last version (n=70) revealed that the instrument held some form of reliability and validity. Once analysed through descriptive and inferential statistics the data supported the view that individuals tended to display dominance in a kind and mode of desire as per the Lacanian model, and sufficient variance existed to preliminarily conclude that this model could be used as a means to value segment employees. Recommendations were as follows: (1) that complexity methodology should inform future motivation theorising, (2) that the proposed complexity models be further empirically tested, (3) that an adequately complex, flexible rewards system be considered, (4) that both managers and employees make use of the developed instrument to aid them in the selection of rewards that will lead to increased satisfaction.
- Full Text:
- Date Issued: 2010
- Authors: Botha, Anton Ivan
- Date: 2010
- Subjects: Employee motivation , Employee morale , Incentive awards
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9400 , http://hdl.handle.net/10948/1232 , Employee motivation , Employee morale , Incentive awards
- Description: Since employee motivation contributes to overall organisational success, reliable motivation theory should inform management and reward practices. Yet, motivation theory is currently in a state of paralysis, with no constructive theorising taking place. Analysis of its methodological presuppositions reveals that it relies on out-dated binary thinking, prioritising, e.g. either a ‘machine-like’ (body driven) or ‘god-like’ (rationally driven) understanding of humanity. In this study it is argued that the revival of motivation theory requires a paradigmatic shift towards a complexity methodology because human motivation was found to be a complex system and must be theorised accordingly. It was found that McAdams’ theory of personality which brought together personality traits, conditioning, and motives could form the basis of a complex theory of motivation. On this basis, a complex model was developed which incorporated elements of existing motivational theories. This model proposed that drives, which motivate behaviour, are a combination of instincts, needs, and desires, mediated by personality traits, rational processing, and conditioning. All of these interconnected elements, as well as biological and environmental conditions, have an impact on, and are influenced by one another. For the purposes of understanding employee motivation the element of desire was isolated as a potential means to value segment employees. A Lacanian theory was utilised to elaborate on the element of desire. This theory postulated that individuals tend to display a dominance is one of nine kinds and modes of desire. An instrument was developed to test the applicability of the Lacanian model. It was developed in five phases which included three pilot studies and two samplings. A total of 591 respondents participated in the empirical research study with 428 in the first sample and 70 in the second; the remaining 93 made up the pilot studies. Unlike the initial version of the instrument used in the first sample (n=428) the data obtained by the last version (n=70) revealed that the instrument held some form of reliability and validity. Once analysed through descriptive and inferential statistics the data supported the view that individuals tended to display dominance in a kind and mode of desire as per the Lacanian model, and sufficient variance existed to preliminarily conclude that this model could be used as a means to value segment employees. Recommendations were as follows: (1) that complexity methodology should inform future motivation theorising, (2) that the proposed complexity models be further empirically tested, (3) that an adequately complex, flexible rewards system be considered, (4) that both managers and employees make use of the developed instrument to aid them in the selection of rewards that will lead to increased satisfaction.
- Full Text:
- Date Issued: 2010
The relationship between the leadership, internal quality, and customer satisfaction levels of dealerships in a South African motor vehicle organisation
- Authors: Botha, Jennifer
- Date: 2002
- Subjects: Consumer satisfaction , Automobile dealers -- South Africa , Industrial productivity , Customer services
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1185 , http://hdl.handle.net/10962/d1002802 , Consumer satisfaction , Automobile dealers -- South Africa , Industrial productivity , Customer services
- Description: This research investigates the relationship between the leadership, internal quality, and customer satisfaction levels in the dealerships of a South African motor vehicle organisation. The Service Profit Chain provides the background theory to this relationship, by suggesting that various factors within the service delivery system of an organisation affect the level of customer satisfaction. From the Service Profit Chain, it is established that two of the prevalent factors affecting customer satisfaction, are leadership and internal quality. The Full Range Leadership Development Theory provides the backdrop for analysing the leadership style of each dealership by using the Multifactor Leadership Questionnaire. The Competence Process forms the theoretical construct against which the internal quality of these dealerships is assessed using the Organisation Competence Analysis Questionnaire. Information was gathered, using these two instruments, from a sample of 85 motor vehicle dealerships within South Africa. The customer satisfaction levels at each of these dealerships, is measured by the motor vehicle organisation’s own instrument, known as the Customer Satisfaction Index. Data obtained from each instrument, for the respective dealerships, was then statistically analysed. However, due to the low reliability of the instruments used in this research, the results of this study indicate that there is no relationship between the leadership, internal quality, and customer satisfaction levels within a South African motor vehicle organisation. Therefore we can conclude that the null hypotheses can not be rejected.
- Full Text:
- Date Issued: 2002
- Authors: Botha, Jennifer
- Date: 2002
- Subjects: Consumer satisfaction , Automobile dealers -- South Africa , Industrial productivity , Customer services
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1185 , http://hdl.handle.net/10962/d1002802 , Consumer satisfaction , Automobile dealers -- South Africa , Industrial productivity , Customer services
- Description: This research investigates the relationship between the leadership, internal quality, and customer satisfaction levels in the dealerships of a South African motor vehicle organisation. The Service Profit Chain provides the background theory to this relationship, by suggesting that various factors within the service delivery system of an organisation affect the level of customer satisfaction. From the Service Profit Chain, it is established that two of the prevalent factors affecting customer satisfaction, are leadership and internal quality. The Full Range Leadership Development Theory provides the backdrop for analysing the leadership style of each dealership by using the Multifactor Leadership Questionnaire. The Competence Process forms the theoretical construct against which the internal quality of these dealerships is assessed using the Organisation Competence Analysis Questionnaire. Information was gathered, using these two instruments, from a sample of 85 motor vehicle dealerships within South Africa. The customer satisfaction levels at each of these dealerships, is measured by the motor vehicle organisation’s own instrument, known as the Customer Satisfaction Index. Data obtained from each instrument, for the respective dealerships, was then statistically analysed. However, due to the low reliability of the instruments used in this research, the results of this study indicate that there is no relationship between the leadership, internal quality, and customer satisfaction levels within a South African motor vehicle organisation. Therefore we can conclude that the null hypotheses can not be rejected.
- Full Text:
- Date Issued: 2002
Chief executive officer compensation and the effect on company performance in a South African context
- Authors: Bradley, Samuel
- Date: 2012
- Subjects: Chief executive officers -- Salaries, etc. -- South Africa , Compensation management -- South Africa , Wage surveys -- South Africa , Organizational effectiveness -- Evaluation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:883 , http://hdl.handle.net/10962/d1001637 , Chief executive officers -- Salaries, etc. -- South Africa , Compensation management -- South Africa , Wage surveys -- South Africa , Organizational effectiveness -- Evaluation
- Description: The goal of this research was to determine, in a South African context, whether there is any correlation between chief executive officer compensation and the performance of the company. For the purposes of the research , the compensation of chief executive officers was broken down into three components: salary, bonus and "other" remuneration, while company performance was measured on return on equity, return on assets and earnings per share figures. Studies on this topic have been carried out in other countries, most notably in the United States of America and the United Kingdom. It appears that no research of a similar nature has been carried out in South Africa. Data in respect of the forty largest listed companies in South Africa were collected over a period of five years. The econometric models used for the research were based on models identified in the literature study. The data were then analysed for evidence of a correlation between chief executive officer compensation and the performance of the company. The results of this study indicate that there is no linear relationship between chief executive officer compensation and company performance variables. The econometric models did, however, show correlations between certain variables, taking into account the other predictor variables in the model. Evidence of correlations between age and experience and compensation was also found , which may present potential avenues of research to scholars in the future.
- Full Text:
- Date Issued: 2012
- Authors: Bradley, Samuel
- Date: 2012
- Subjects: Chief executive officers -- Salaries, etc. -- South Africa , Compensation management -- South Africa , Wage surveys -- South Africa , Organizational effectiveness -- Evaluation
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:883 , http://hdl.handle.net/10962/d1001637 , Chief executive officers -- Salaries, etc. -- South Africa , Compensation management -- South Africa , Wage surveys -- South Africa , Organizational effectiveness -- Evaluation
- Description: The goal of this research was to determine, in a South African context, whether there is any correlation between chief executive officer compensation and the performance of the company. For the purposes of the research , the compensation of chief executive officers was broken down into three components: salary, bonus and "other" remuneration, while company performance was measured on return on equity, return on assets and earnings per share figures. Studies on this topic have been carried out in other countries, most notably in the United States of America and the United Kingdom. It appears that no research of a similar nature has been carried out in South Africa. Data in respect of the forty largest listed companies in South Africa were collected over a period of five years. The econometric models used for the research were based on models identified in the literature study. The data were then analysed for evidence of a correlation between chief executive officer compensation and the performance of the company. The results of this study indicate that there is no linear relationship between chief executive officer compensation and company performance variables. The econometric models did, however, show correlations between certain variables, taking into account the other predictor variables in the model. Evidence of correlations between age and experience and compensation was also found , which may present potential avenues of research to scholars in the future.
- Full Text:
- Date Issued: 2012
The taxation of Real Estate Investment Trusts (REIT) in South Africa
- Authors: Breetzke, Michael
- Date: 2014
- Subjects: Real estate investment trusts -- South Africa , Real estate investment trusts -- Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8963 , http://hdl.handle.net/10948/d1020001
- Description: Real Estate Investment Trusts (REIT’s) provide certain benefits for investors as opposed to them directly investing in property. Many countries worldwide have already established tax systems for REIT’s which give natural persons and companies the benefit of not outlaying substantial capital, and provide certain tax dispensations to them. The concept of a REIT is new to South Africa. The vehicles that have been used by investors in the past to invest indirectly in property have been Property Unit Trusts (PUTs) and Property Loan Stock Companies (PLS). These different types of entities have had different taxation rules applied to them, as they differed in legal entity, i.e. a trust versus a company. The different types of entity were historically a deterrent to foreign investors who preferred to invest in countries that had the REIT structure and certain tax dispensations. The National Treasury and the South African Revenue Service (SARS) decided to collaborate in this matter so as to encourage foreign property investment, and launched with effect from 1 April 2013, a new REIT tax dispensation for investors in property portfolios. The REIT created a unified regime in South Africa. All portfolios wanting to call themselves REITs had to qualify under certain requirements, and then they would be eligible for the new section 25BB tax dispensation. The South African REIT market is relatively new when compared to the Australian REIT market, which is the second largest in the world. The Australian REIT market has been around for approximately forty three years more than the South African REIT market. The Australian REIT regime is analysed in terms of how REITs are taxed in that country. The final chapter provides a comparison between the South African and Australian REIT regimes. The major differences are identified as to how each country taxes the REITs and the respective shareholders, and from these a few proposals are made which could improve the South African REIT regime in order for it to stand up to worldwide scrutiny.
- Full Text:
- Date Issued: 2014
- Authors: Breetzke, Michael
- Date: 2014
- Subjects: Real estate investment trusts -- South Africa , Real estate investment trusts -- Taxation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8963 , http://hdl.handle.net/10948/d1020001
- Description: Real Estate Investment Trusts (REIT’s) provide certain benefits for investors as opposed to them directly investing in property. Many countries worldwide have already established tax systems for REIT’s which give natural persons and companies the benefit of not outlaying substantial capital, and provide certain tax dispensations to them. The concept of a REIT is new to South Africa. The vehicles that have been used by investors in the past to invest indirectly in property have been Property Unit Trusts (PUTs) and Property Loan Stock Companies (PLS). These different types of entities have had different taxation rules applied to them, as they differed in legal entity, i.e. a trust versus a company. The different types of entity were historically a deterrent to foreign investors who preferred to invest in countries that had the REIT structure and certain tax dispensations. The National Treasury and the South African Revenue Service (SARS) decided to collaborate in this matter so as to encourage foreign property investment, and launched with effect from 1 April 2013, a new REIT tax dispensation for investors in property portfolios. The REIT created a unified regime in South Africa. All portfolios wanting to call themselves REITs had to qualify under certain requirements, and then they would be eligible for the new section 25BB tax dispensation. The South African REIT market is relatively new when compared to the Australian REIT market, which is the second largest in the world. The Australian REIT market has been around for approximately forty three years more than the South African REIT market. The Australian REIT regime is analysed in terms of how REITs are taxed in that country. The final chapter provides a comparison between the South African and Australian REIT regimes. The major differences are identified as to how each country taxes the REITs and the respective shareholders, and from these a few proposals are made which could improve the South African REIT regime in order for it to stand up to worldwide scrutiny.
- Full Text:
- Date Issued: 2014
The influence of employees's perceptions of organisational ethics and perceived relative self-ethicality on their levels of organisational identification and overall well-being
- Authors: Breytenbach, Nadia
- Date: 2014
- Subjects: Corporate culture , Well-being , Work ethic , Self-realization
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9411 , http://hdl.handle.net/10948/d1020072
- Description: This study investigated whether an employees’ perception of the ethical culture in the organisation and their perception of their own ethicality influenced their level of organisational identification and additionally, whether this relationship between perceived ethical culture and organisational identification had an influence on workplace wellbeing. The aim of this research study was to measure employees’ perceptions of organisational ethics, their relative self-ethicality, organisational identification, and wellbeing, in order to develop a model pertaining to the relationship between these three constructs. Research showed that employees’ perceptions of the ethical culture in their organisation can influence how they identify with that particular organisation. Research also indicated that the differences between perceived organisational ethicality and relative self-ethicality exist. Additionally, research showed the influence of perceived ethical culture and relative self-ethicality has indicated a relationship between organisational identification and wellbeing respectively. However, to date and to the researcher’s knowledge there has been no investigation of the relationship between these four constructs. This research study was quantitative in nature in which a questionnaire was utilised as a research method. A sample of 111 respondent from three organisations in the automation industry in the Eastern Cape, Port Elizabeth was utilised for this research study. The main findings indicated that an alternative model resulted to be a good fit through structural equation modelling. The results illustrated that organisational ethicality has an influence on how employees identify with their organisations and how this relationship influences wellbeing. Therefore, it is worthwhile to invest in an ethical organisational culture for the sustainability of the organisation and its employees’ livelihoods. This study contributes to the literature based on perceived ethical culture, organisational identification, and workplace wellbeing. Additionally, the study provides readers with a model on how these concepts influence each other.
- Full Text:
- Date Issued: 2014
- Authors: Breytenbach, Nadia
- Date: 2014
- Subjects: Corporate culture , Well-being , Work ethic , Self-realization
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9411 , http://hdl.handle.net/10948/d1020072
- Description: This study investigated whether an employees’ perception of the ethical culture in the organisation and their perception of their own ethicality influenced their level of organisational identification and additionally, whether this relationship between perceived ethical culture and organisational identification had an influence on workplace wellbeing. The aim of this research study was to measure employees’ perceptions of organisational ethics, their relative self-ethicality, organisational identification, and wellbeing, in order to develop a model pertaining to the relationship between these three constructs. Research showed that employees’ perceptions of the ethical culture in their organisation can influence how they identify with that particular organisation. Research also indicated that the differences between perceived organisational ethicality and relative self-ethicality exist. Additionally, research showed the influence of perceived ethical culture and relative self-ethicality has indicated a relationship between organisational identification and wellbeing respectively. However, to date and to the researcher’s knowledge there has been no investigation of the relationship between these four constructs. This research study was quantitative in nature in which a questionnaire was utilised as a research method. A sample of 111 respondent from three organisations in the automation industry in the Eastern Cape, Port Elizabeth was utilised for this research study. The main findings indicated that an alternative model resulted to be a good fit through structural equation modelling. The results illustrated that organisational ethicality has an influence on how employees identify with their organisations and how this relationship influences wellbeing. Therefore, it is worthwhile to invest in an ethical organisational culture for the sustainability of the organisation and its employees’ livelihoods. This study contributes to the literature based on perceived ethical culture, organisational identification, and workplace wellbeing. Additionally, the study provides readers with a model on how these concepts influence each other.
- Full Text:
- Date Issued: 2014
A critical examination of the evidence regarding the size of manufacturing units in the footwear industry of South Africa, Great Britain, Canada and the U.S.A. with an assessment of the economic implications and consequences of these conditions in relation to the South African customs tariff
- Authors: Brits, R N
- Date: 1946
- Subjects: Footwear industry -- South Africa , Footwear industry , Tariff -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1080 , http://hdl.handle.net/10962/d1009755 , Footwear industry -- South Africa , Footwear industry , Tariff -- South Africa
- Description: Before the formation of Union in 1910 there were a few scattered boot and shoe factories in South Africa. Unfortunately, owing to lack of statistics, it is impossible to tell which of these establishments were actually manufacturing boots and shoes, and which were only engaged in repair work.
- Full Text:
- Date Issued: 1946
- Authors: Brits, R N
- Date: 1946
- Subjects: Footwear industry -- South Africa , Footwear industry , Tariff -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1080 , http://hdl.handle.net/10962/d1009755 , Footwear industry -- South Africa , Footwear industry , Tariff -- South Africa
- Description: Before the formation of Union in 1910 there were a few scattered boot and shoe factories in South Africa. Unfortunately, owing to lack of statistics, it is impossible to tell which of these establishments were actually manufacturing boots and shoes, and which were only engaged in repair work.
- Full Text:
- Date Issued: 1946
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Authors: Brock, Kelcey
- Date: 2015
- Subjects: Cricket -- South Africa -- Eastern Cape , Cricket -- Social aspects , Consumption (Economics) , Consumer behavior
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1115 , http://hdl.handle.net/10962/d1017534
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspect that underpins or at least to some extent can be used to explain consumption behaviour. Modern consumption behaviour theory is anthropocentric in nature, with people and societal influence at the forefront of the theory. To date, empirical studies on consumption behaviour of cultural activities (for example, music and arts), entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to suggest that consumption of leisure activities is bound up in social ties. To date, no such investigation has been conducted in the context of sport in South Africa. The aim of the study therefore is to investigate whether South African cricket spectators are sporting omnivores or univores, thus, essentially investigating whether sports consumption behaviour in South Africa is bound up in social ties. A number of positive economic and social ramifications could result from gaining a holistic understanding of sports consumption behaviour in South Africa. Given these ramifications, the secondary goal of the research is to identify motives for consumers making specific sport consumption decisions, and determining whether certain characteristics can be attributed to these consumption decisions. Recommendations based on the findings of the research could help various stakeholders understand sports consumption patterns in South Africa, which could in turn lead to the realization of positive economic and social benefits. The study made use of a questionnaire, administered at four different limited overs cricket matches in the 2012/13 cricket season, to obtain a range of responses reflecting specific types of consumption behaviour as well as motives for consumption decisions of cricket spectators in the Eastern Cape. Using individual binary probit models and post estimation F-tests, the results indicate that consumption behaviour of sport within South Africa predominantly differs on the grounds of education and race. This suggests that there are aspects of social connotations underpinning sports consumption behaviour within South Africa
- Full Text:
- Date Issued: 2015
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Authors: Brock, Kelcey
- Date: 2015
- Subjects: Cricket -- South Africa -- Eastern Cape , Cricket -- Social aspects , Consumption (Economics) , Consumer behavior
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1115 , http://hdl.handle.net/10962/d1017534
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspect that underpins or at least to some extent can be used to explain consumption behaviour. Modern consumption behaviour theory is anthropocentric in nature, with people and societal influence at the forefront of the theory. To date, empirical studies on consumption behaviour of cultural activities (for example, music and arts), entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to suggest that consumption of leisure activities is bound up in social ties. To date, no such investigation has been conducted in the context of sport in South Africa. The aim of the study therefore is to investigate whether South African cricket spectators are sporting omnivores or univores, thus, essentially investigating whether sports consumption behaviour in South Africa is bound up in social ties. A number of positive economic and social ramifications could result from gaining a holistic understanding of sports consumption behaviour in South Africa. Given these ramifications, the secondary goal of the research is to identify motives for consumers making specific sport consumption decisions, and determining whether certain characteristics can be attributed to these consumption decisions. Recommendations based on the findings of the research could help various stakeholders understand sports consumption patterns in South Africa, which could in turn lead to the realization of positive economic and social benefits. The study made use of a questionnaire, administered at four different limited overs cricket matches in the 2012/13 cricket season, to obtain a range of responses reflecting specific types of consumption behaviour as well as motives for consumption decisions of cricket spectators in the Eastern Cape. Using individual binary probit models and post estimation F-tests, the results indicate that consumption behaviour of sport within South Africa predominantly differs on the grounds of education and race. This suggests that there are aspects of social connotations underpinning sports consumption behaviour within South Africa
- Full Text:
- Date Issued: 2015
Cryptocurrencies in the future of money and monetary policy
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
The relationship between accounting choices and share prices : a study of South African listed companies
- Authors: Bunting, Mark
- Date: 2009
- Subjects: Financial statements -- South Africa , Accounting -- South Africa , Managerial accounting -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:989 , http://hdl.handle.net/10962/d1002724 , Financial statements -- South Africa , Accounting -- South Africa , Managerial accounting -- South Africa
- Description: It is widely assumed that the managers of companies behave in a self-interested and opportunistic manner when making the discretionary accounting choices that are applied in the preparation of published financial reports. Empirical research has found evidence for this in the United States, Britain, Spain, France and Australia, amongst other countries. There has, however, been no prior work of a similar nature in a South African context. The purpose of this study is to extend this body of work by examining the relationship between a number of potentially opportunistic (profit-increasing, income-smoothing and solvencyimproving) accounting choices made by the managers of South African listed companies, and growth rates in the share prices of those companies. Data in respect of thirty-nine medium-sized South African listed companies are analysed for evidence of the expected positive relationship between opportunistic accounting choices and share price growth. No evidence is found for this relationship. This may be due to limitations in the research design, inadequacies in the interpretation of the agency theory from which the hypotheses are developed, or a combination of both. Refinements in the research design or a re-interpretation of the theory may be successful in addressing these matters as part of future research efforts.
- Full Text:
- Date Issued: 2009
- Authors: Bunting, Mark
- Date: 2009
- Subjects: Financial statements -- South Africa , Accounting -- South Africa , Managerial accounting -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:989 , http://hdl.handle.net/10962/d1002724 , Financial statements -- South Africa , Accounting -- South Africa , Managerial accounting -- South Africa
- Description: It is widely assumed that the managers of companies behave in a self-interested and opportunistic manner when making the discretionary accounting choices that are applied in the preparation of published financial reports. Empirical research has found evidence for this in the United States, Britain, Spain, France and Australia, amongst other countries. There has, however, been no prior work of a similar nature in a South African context. The purpose of this study is to extend this body of work by examining the relationship between a number of potentially opportunistic (profit-increasing, income-smoothing and solvencyimproving) accounting choices made by the managers of South African listed companies, and growth rates in the share prices of those companies. Data in respect of thirty-nine medium-sized South African listed companies are analysed for evidence of the expected positive relationship between opportunistic accounting choices and share price growth. No evidence is found for this relationship. This may be due to limitations in the research design, inadequacies in the interpretation of the agency theory from which the hypotheses are developed, or a combination of both. Refinements in the research design or a re-interpretation of the theory may be successful in addressing these matters as part of future research efforts.
- Full Text:
- Date Issued: 2009
South African VAT implications in respect of supplies by non residents to residents
- Authors: Burger, Bianca
- Date: 2014
- Subjects: Electronic commerce -- Taxation -- Law and legislation , Business enterprises -- Taxation -- Law and legislation , Value-added tax -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8962 , http://hdl.handle.net/10948/d1019977
- Description: Paragraph 7(1) of the VAT Act provides for the charging of VAT at 14 percent on the supply of goods or services by a vendor in the course or furtherance of an ‘enterprise’, the importation into South Africa of goods by any person or the supply of ‘imported services’. The term ‘enterprise’ has been interpreted to require an on-going activity and therefore once off sales should be excluded. The sale must relate to enterprise activities, thereby excluding private sales. Furthermore the enterprise activities are required to be carried out in the Republic or partly in the Republic. Establishing whether the enterprise activities are carried out in the Republic remains a contentious issue as the VAT Act does not specify the minimum required business activities to meet this criterion. ‘Imported services’ excludes services imported for the purposes of making taxable supplies and the liability of accounting for VAT on ‘imported services’ lies with the recipient of the imported service. Supplies (imported services) which are chargeable in terms of s 7(1)(a) and supplies, which if made in the Republic, are exempt from VAT or zero rated. ‘Imported services’ definition requires services to be consumed in South Africa. Services offered outside South Africa therefore generally do not qualify as imported services even the South African entity benefits from such services, for example a training course attended in a foreign country. Technological developments in the field of e-commerce globally have required countries to examine VAT laws relating to e-commerce. Extensive research has been done by the OECD on this topic, with reports issued on recommendations of how e-commerce should be taxed. Most guidance issued by the OECD on taxing e-commerce relates to indirect electronic commerce, which refers to goods or services where ordering, payment and delivery occur on line. Distinction is drawn between taxation of business-to-business transactions and business-to-consumer transactions. The OECD suggests that the ‘reverse-charge’ or self-assessment method should be applied to the taxing of B2B transactions resulting in minimal compliance and administrative costs. It is further recommended that for B2C transactions place of consumption should be defined as the recipient’s usual jurisdiction of residence and that non-resident suppliers should be required to register and pay VAT in the jurisdiction of the consumer, as this would result in the most effective tax collection method. ‘Enterprise’ includes electronic services from a foreign supplier where the recipient is a resident of South Africa or where the payment originated from a South African bank account. The Minister’s regulation, which came into effect on 1 June 2014, includes the following items in the definition of electronic services: educational services, games, online auction services, miscellaneous services and subscription services. The South African VAT legislation draws no distinction between B2B and B2C supplies of electronic services. The reasoning behind this was to avoid situations in which private customers could pose as business customers in order to avoid the levying of tax. A review of the services currently included in the Minister’s regulation on electronic services indicate that services that would relate to B2B supplies have mostly been excluded from the regulation. Effectively the South African VAT legislation manages to indirectly exclude B2B supplies from the definition of electronic services and therefore achieves the objective of minimising the administrative burden on B2B supplies.
- Full Text:
- Date Issued: 2014
- Authors: Burger, Bianca
- Date: 2014
- Subjects: Electronic commerce -- Taxation -- Law and legislation , Business enterprises -- Taxation -- Law and legislation , Value-added tax -- Law and legislation -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8962 , http://hdl.handle.net/10948/d1019977
- Description: Paragraph 7(1) of the VAT Act provides for the charging of VAT at 14 percent on the supply of goods or services by a vendor in the course or furtherance of an ‘enterprise’, the importation into South Africa of goods by any person or the supply of ‘imported services’. The term ‘enterprise’ has been interpreted to require an on-going activity and therefore once off sales should be excluded. The sale must relate to enterprise activities, thereby excluding private sales. Furthermore the enterprise activities are required to be carried out in the Republic or partly in the Republic. Establishing whether the enterprise activities are carried out in the Republic remains a contentious issue as the VAT Act does not specify the minimum required business activities to meet this criterion. ‘Imported services’ excludes services imported for the purposes of making taxable supplies and the liability of accounting for VAT on ‘imported services’ lies with the recipient of the imported service. Supplies (imported services) which are chargeable in terms of s 7(1)(a) and supplies, which if made in the Republic, are exempt from VAT or zero rated. ‘Imported services’ definition requires services to be consumed in South Africa. Services offered outside South Africa therefore generally do not qualify as imported services even the South African entity benefits from such services, for example a training course attended in a foreign country. Technological developments in the field of e-commerce globally have required countries to examine VAT laws relating to e-commerce. Extensive research has been done by the OECD on this topic, with reports issued on recommendations of how e-commerce should be taxed. Most guidance issued by the OECD on taxing e-commerce relates to indirect electronic commerce, which refers to goods or services where ordering, payment and delivery occur on line. Distinction is drawn between taxation of business-to-business transactions and business-to-consumer transactions. The OECD suggests that the ‘reverse-charge’ or self-assessment method should be applied to the taxing of B2B transactions resulting in minimal compliance and administrative costs. It is further recommended that for B2C transactions place of consumption should be defined as the recipient’s usual jurisdiction of residence and that non-resident suppliers should be required to register and pay VAT in the jurisdiction of the consumer, as this would result in the most effective tax collection method. ‘Enterprise’ includes electronic services from a foreign supplier where the recipient is a resident of South Africa or where the payment originated from a South African bank account. The Minister’s regulation, which came into effect on 1 June 2014, includes the following items in the definition of electronic services: educational services, games, online auction services, miscellaneous services and subscription services. The South African VAT legislation draws no distinction between B2B and B2C supplies of electronic services. The reasoning behind this was to avoid situations in which private customers could pose as business customers in order to avoid the levying of tax. A review of the services currently included in the Minister’s regulation on electronic services indicate that services that would relate to B2B supplies have mostly been excluded from the regulation. Effectively the South African VAT legislation manages to indirectly exclude B2B supplies from the definition of electronic services and therefore achieves the objective of minimising the administrative burden on B2B supplies.
- Full Text:
- Date Issued: 2014
The deductibility of losses incurred by a taxpayer as a result of senior employee theft, fraud or embezzlement
- Authors: Bux, Fardeen
- Date: 2013
- Subjects: Customs administration -- Officials and employees , Employee theft -- South Africa , Customs inspection -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8964 , http://hdl.handle.net/10948/d1020608
- Description: SARS has issued a draft interpretation note dealing with the deductibility of expenditure and losses arising from embezzlement and theft by employees noting that it is not prepared to accept, as a general proposition, that embezzlement and theft by senior managers have become a risk which is inseparable from business. There is however another view that is in direct contradiction with SARS. An analysis of global fraud surveys reveal that senior employee fraud is on the increase. In South Africa, criminal cases against senior employees in the private and public sector indicate that their behaviour can lead to an expectation of theft, fraud or embezzlement at that level of employees. The tests developed by the courts for the deduction of expenditure or losses in terms of the general deduction formula require that such expenditure or loss be attached to the performance of a business operation bona fide performed for the purpose of earning income and will be deductible whether such expenditure or losses are necessary for its performance or attached to it by chance. It is submitted that the increase in fraud and behaviour of senior employees noted in the criminal courts have resulted in a change in the economic environment supporting the contention that theft, fraud or embezzlement are an inherent risk to business in South Africa. In addition, global precedence supports the view that senior employee defalcations are deductible but only to the extent that the perpetrator is not in a proprietor or shareholder role. SARS therefore appears to be turning a blind eye to the risk of theft, fraud or embezzlement by senior employees but there is sufficient evidence to support a taxpayer wishing to claim a deduction for such loss. In light of international precedence, National Treasury should enact legislation allowing a deduction or alternatively, SARS should align its view with such precedence.
- Full Text:
- Date Issued: 2013
- Authors: Bux, Fardeen
- Date: 2013
- Subjects: Customs administration -- Officials and employees , Employee theft -- South Africa , Customs inspection -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:8964 , http://hdl.handle.net/10948/d1020608
- Description: SARS has issued a draft interpretation note dealing with the deductibility of expenditure and losses arising from embezzlement and theft by employees noting that it is not prepared to accept, as a general proposition, that embezzlement and theft by senior managers have become a risk which is inseparable from business. There is however another view that is in direct contradiction with SARS. An analysis of global fraud surveys reveal that senior employee fraud is on the increase. In South Africa, criminal cases against senior employees in the private and public sector indicate that their behaviour can lead to an expectation of theft, fraud or embezzlement at that level of employees. The tests developed by the courts for the deduction of expenditure or losses in terms of the general deduction formula require that such expenditure or loss be attached to the performance of a business operation bona fide performed for the purpose of earning income and will be deductible whether such expenditure or losses are necessary for its performance or attached to it by chance. It is submitted that the increase in fraud and behaviour of senior employees noted in the criminal courts have resulted in a change in the economic environment supporting the contention that theft, fraud or embezzlement are an inherent risk to business in South Africa. In addition, global precedence supports the view that senior employee defalcations are deductible but only to the extent that the perpetrator is not in a proprietor or shareholder role. SARS therefore appears to be turning a blind eye to the risk of theft, fraud or embezzlement by senior employees but there is sufficient evidence to support a taxpayer wishing to claim a deduction for such loss. In light of international precedence, National Treasury should enact legislation allowing a deduction or alternatively, SARS should align its view with such precedence.
- Full Text:
- Date Issued: 2013
Measures of success of small and medium-sized family and non-family-owned businesses in the Eastern Cape
- Authors: Carelsen, Mispah
- Date: 2016
- Subjects: Success in business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape , Family-owned business enterprises -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3479 , vital:20434
- Description: Small and medium-sized enterprises (SMEs) are recognised internationally and in South Africa as a critical component of the economic development of a country as a result of their contribution to job creation, alleviation of poverty, sustainability and innovation. Furthermore, the majority of SMEs are also family-owned and play an increasingly important role in the South African economy, making up approximately 84 per cent of businesses in the country. Despite the critical role that family and non-family SMEs play in economic development, they are still plagued with high failure rates and unique challenges that make it difficult for them to survive. These challenges include, amongst others, regulatory burdens, restrictive labour policies, a lack of access to finance, markets and technology, as well as an overwhelmingly constant emphasis on survival. As a result of the added dynamic of family relationships within family-owned SMEs, they face additional challenges such as conflict between family members and inadequate succession planning. Focus is often placed on the factors leading to failure, but little is known about success-aiding behaviours that could reduce the high failure rate and improve the success rate of these businesses. As a result, it is important to examine what determines success and how it is measured. Success can be defined as the attainment of goals, therefore the achievement of goals plays a critical role in the success of the business.
- Full Text:
- Date Issued: 2016
- Authors: Carelsen, Mispah
- Date: 2016
- Subjects: Success in business -- South Africa -- Eastern Cape , Small business -- South Africa -- Eastern Cape , Family-owned business enterprises -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/3479 , vital:20434
- Description: Small and medium-sized enterprises (SMEs) are recognised internationally and in South Africa as a critical component of the economic development of a country as a result of their contribution to job creation, alleviation of poverty, sustainability and innovation. Furthermore, the majority of SMEs are also family-owned and play an increasingly important role in the South African economy, making up approximately 84 per cent of businesses in the country. Despite the critical role that family and non-family SMEs play in economic development, they are still plagued with high failure rates and unique challenges that make it difficult for them to survive. These challenges include, amongst others, regulatory burdens, restrictive labour policies, a lack of access to finance, markets and technology, as well as an overwhelmingly constant emphasis on survival. As a result of the added dynamic of family relationships within family-owned SMEs, they face additional challenges such as conflict between family members and inadequate succession planning. Focus is often placed on the factors leading to failure, but little is known about success-aiding behaviours that could reduce the high failure rate and improve the success rate of these businesses. As a result, it is important to examine what determines success and how it is measured. Success can be defined as the attainment of goals, therefore the achievement of goals plays a critical role in the success of the business.
- Full Text:
- Date Issued: 2016