The determinants of happiness among race groups in South Africa
- Ebrahim, Amina, Botha, Ferdi, Snowball, Jeanette D
- Authors: Ebrahim, Amina , Botha, Ferdi , Snowball, Jeanette D
- Date: 2011
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/68589 , vital:29291 , http://www.essa2011.org.za/fullpaper/essa2011_2182.pdf
- Description: Publisher version , Economic indicators, like GDP per capita, are commonly used as indicators of welfare. However, they have a very limited and narrow scope, excluding many potentially important welfare determinants, such as health, relative income and religion - not surprising since they were not originally designed to fill this role. There is thus growing acceptance, and use of, subjective measure of wellbeing, (called ‘happiness’ measures) both worldwide and in South Africa. Happiness economics does not propose to replace income based measure of wellbeing, but rather attempts to compliment them with broader measures, which can be important in making policy decisions that optimise societal welfare. This paper tests for differences in subjective wellbeing between race groups in South Africa, and investigates the determinants of self-rated life satisfaction (happiness) for each group. Using the 2008 National Income Dynamics Study (NIDS) data, descriptive methods (ANOVA) and an ordered probit model are applied. Results indicate that reported happiness differs substantially among race groups, with black South Africans being the least happy group despite changes since the advent of democracy in 1994. Higher levels of educational attainment increase satisfaction for the whole sample, and women are generally less happy than men (particularly black women). As found in many other studies, unemployed people have lower levels of life satisfaction than the employed, even when controlling for income and relative income. The determinants of happiness are also different for each race group: While white South Africans attached greater importance to physical health; employment status and absolute income matter greatly for black people. For coloured people and black people, positional status (as measured by relative income) is an important determinant of happiness, with religious involvement significantly contributing to the happiness of Indian people.
- Full Text:
- Date Issued: 2011
- Authors: Ebrahim, Amina , Botha, Ferdi , Snowball, Jeanette D
- Date: 2011
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/68589 , vital:29291 , http://www.essa2011.org.za/fullpaper/essa2011_2182.pdf
- Description: Publisher version , Economic indicators, like GDP per capita, are commonly used as indicators of welfare. However, they have a very limited and narrow scope, excluding many potentially important welfare determinants, such as health, relative income and religion - not surprising since they were not originally designed to fill this role. There is thus growing acceptance, and use of, subjective measure of wellbeing, (called ‘happiness’ measures) both worldwide and in South Africa. Happiness economics does not propose to replace income based measure of wellbeing, but rather attempts to compliment them with broader measures, which can be important in making policy decisions that optimise societal welfare. This paper tests for differences in subjective wellbeing between race groups in South Africa, and investigates the determinants of self-rated life satisfaction (happiness) for each group. Using the 2008 National Income Dynamics Study (NIDS) data, descriptive methods (ANOVA) and an ordered probit model are applied. Results indicate that reported happiness differs substantially among race groups, with black South Africans being the least happy group despite changes since the advent of democracy in 1994. Higher levels of educational attainment increase satisfaction for the whole sample, and women are generally less happy than men (particularly black women). As found in many other studies, unemployed people have lower levels of life satisfaction than the employed, even when controlling for income and relative income. The determinants of happiness are also different for each race group: While white South Africans attached greater importance to physical health; employment status and absolute income matter greatly for black people. For coloured people and black people, positional status (as measured by relative income) is an important determinant of happiness, with religious involvement significantly contributing to the happiness of Indian people.
- Full Text:
- Date Issued: 2011
The determinants of household savings in South Africa
- Simleit, C, Keeotn, Gavin, Botha, Ferdi
- Authors: Simleit, C , Keeotn, Gavin , Botha, Ferdi
- Date: 2011
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396153 , vital:69154 , xlink:href="https://hdl.handle.net/10520/EJC21526"
- Description: In South Africa, substantial government dissaving as well as poor household savings performance has caused a decline in aggregate savings. Whilst government dissaving has been successfully reversed, household savings continue to fall. Low domestic savings have required South Africa to attract large, volatile portfolio capital inflows to fund a structural current account deficit. Repeated reversals of such inflows have constrained domestic growth and hence an understanding of the factors that have caused this decline in savings is essential in order to formulate policies supportive of sustained higher rates of economic growth. Within the context of the existing literature, this article examines the various determinants of household savings using a vector error-correction model (VECM). The results suggest that interest rates, a wealth effect and upturns in the business cycle all contribute to explaining the decline in household savings. The presence of a partial offset between household savings and government savings also has important implications for the effectiveness of using the fiscal position of the South African government to boost savings.
- Full Text:
- Date Issued: 2011
- Authors: Simleit, C , Keeotn, Gavin , Botha, Ferdi
- Date: 2011
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396153 , vital:69154 , xlink:href="https://hdl.handle.net/10520/EJC21526"
- Description: In South Africa, substantial government dissaving as well as poor household savings performance has caused a decline in aggregate savings. Whilst government dissaving has been successfully reversed, household savings continue to fall. Low domestic savings have required South Africa to attract large, volatile portfolio capital inflows to fund a structural current account deficit. Repeated reversals of such inflows have constrained domestic growth and hence an understanding of the factors that have caused this decline in savings is essential in order to formulate policies supportive of sustained higher rates of economic growth. Within the context of the existing literature, this article examines the various determinants of household savings using a vector error-correction model (VECM). The results suggest that interest rates, a wealth effect and upturns in the business cycle all contribute to explaining the decline in household savings. The presence of a partial offset between household savings and government savings also has important implications for the effectiveness of using the fiscal position of the South African government to boost savings.
- Full Text:
- Date Issued: 2011
A production function for cricket: the South African perspective
- Brock, Kelsey, Fraser, Gavin C G, Botha, Ferdi
- Authors: Brock, Kelsey , Fraser, Gavin C G , Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396007 , vital:69143 , xlink:href="https://hdl.handle.net/10520/EJC124240"
- Description: Production functions are common to any productive activity. Although it may not appear obvious, cricket is no different. Production functions in cricket provide a wide range of information, utilised to enhance efficiency and maximize match success. Given these benefits, this study involved the derivation of a production function for the South African SuperSport Series and an analysis of technical efficiency. An econometric analysis was conducted on data from the 2004-2011 cricket seasons and it was concluded that the most optimal strategy for South African teams involved a combination of attacking batting and defensive bowling. Furthermore, South African teams had a relatively low variable substitutability and a high degree of technical efficiency.
- Full Text:
- Date Issued: 2012
- Authors: Brock, Kelsey , Fraser, Gavin C G , Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396007 , vital:69143 , xlink:href="https://hdl.handle.net/10520/EJC124240"
- Description: Production functions are common to any productive activity. Although it may not appear obvious, cricket is no different. Production functions in cricket provide a wide range of information, utilised to enhance efficiency and maximize match success. Given these benefits, this study involved the derivation of a production function for the South African SuperSport Series and an analysis of technical efficiency. An econometric analysis was conducted on data from the 2004-2011 cricket seasons and it was concluded that the most optimal strategy for South African teams involved a combination of attacking batting and defensive bowling. Furthermore, South African teams had a relatively low variable substitutability and a high degree of technical efficiency.
- Full Text:
- Date Issued: 2012
Firm age, collateral value, and access to debt financing in an emerging economy: evidence from South Africa
- Authors: Ezeoha,Abel , Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396060 , vital:69147 , xlink:href="https://hdl.handle.net/10520/EJC31367"
- Description: This paper applies the Blundell and Bond system generalised method of moments (GMM) two-step estimator to examine the impact of age and collateral value on debt financing, using a panel of 177 non-financial companies listed on the Johannesburg Stock Exchange over the period 1999 to 2009. The results show that South African firms have target leverage ratios and adjust their capital structures from time to time to achieve their respective targets, that the relationship between firm age and debt financing is non-monotonic, and that firms with higher collateral value are likely to face fewer constraints on borrowing and therefore have greater access to medium-term and long-term debts. Robustness tests also reveal that during start-up and maturity stages, a firm's access to debt markets is significantly influenced by investments in assets that are acceptable to external creditors as collateral. These findings suggest that debt financing policies could be more critical for firms in the start-up and maturity stages.
- Full Text:
- Date Issued: 2012
- Authors: Ezeoha,Abel , Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396060 , vital:69147 , xlink:href="https://hdl.handle.net/10520/EJC31367"
- Description: This paper applies the Blundell and Bond system generalised method of moments (GMM) two-step estimator to examine the impact of age and collateral value on debt financing, using a panel of 177 non-financial companies listed on the Johannesburg Stock Exchange over the period 1999 to 2009. The results show that South African firms have target leverage ratios and adjust their capital structures from time to time to achieve their respective targets, that the relationship between firm age and debt financing is non-monotonic, and that firms with higher collateral value are likely to face fewer constraints on borrowing and therefore have greater access to medium-term and long-term debts. Robustness tests also reveal that during start-up and maturity stages, a firm's access to debt markets is significantly influenced by investments in assets that are acceptable to external creditors as collateral. These findings suggest that debt financing policies could be more critical for firms in the start-up and maturity stages.
- Full Text:
- Date Issued: 2012
The economics of suicide in South Africa
- Authors: Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396168 , vital:69155 , xlink:href="https://doi.org/10.1111/j.1813-6982.2012.01336.x"
- Description: This study investigates the economics of suicide in South Africa using the Mortality and Causes of Death data from death notification as well as regional economic data for the 2006-2008 period. Using an inflation rate that varies by month and across province of residence as a proxy for economic performance, the results indicate a negative relationship between inflation and suicide, suggesting that suicides are countercyclical. When controlling for month and province fixed effects, however, the inflation coefficient, albeit remaining negative, is no longer significant, except in the female sample. Suicide is more prevalent among younger individuals, while the greatest proportion of suicide is seen among men. Suicides also exhibit a strong seasonal variation, with peaks in spring and summer, with December having the highest suicide prevalence. The overall results indicate a negative but insignificant relationship between economic performance and suicide in South Africa, with socio-economic differences and individual characteristics accounting for most of the variation in suicide.
- Full Text:
- Date Issued: 2012
- Authors: Botha, Ferdi
- Date: 2012
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396168 , vital:69155 , xlink:href="https://doi.org/10.1111/j.1813-6982.2012.01336.x"
- Description: This study investigates the economics of suicide in South Africa using the Mortality and Causes of Death data from death notification as well as regional economic data for the 2006-2008 period. Using an inflation rate that varies by month and across province of residence as a proxy for economic performance, the results indicate a negative relationship between inflation and suicide, suggesting that suicides are countercyclical. When controlling for month and province fixed effects, however, the inflation coefficient, albeit remaining negative, is no longer significant, except in the female sample. Suicide is more prevalent among younger individuals, while the greatest proportion of suicide is seen among men. Suicides also exhibit a strong seasonal variation, with peaks in spring and summer, with December having the highest suicide prevalence. The overall results indicate a negative but insignificant relationship between economic performance and suicide in South Africa, with socio-economic differences and individual characteristics accounting for most of the variation in suicide.
- Full Text:
- Date Issued: 2012
Determinants of life satisfaction among race groups in South Africa
- Ebrahim, Amina, Botha, Ferdi, Snowball, Jeanette D
- Authors: Ebrahim, Amina , Botha, Ferdi , Snowball, Jeanette D
- Date: 2013
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/69311 , vital:29497 , https://doi.org/10.1080/0376835x.2013.797227
- Description: Economic indicators, like gross domestic product per capita, are commonly used as indicators of welfare. However, they have a very limited and narrow scope, excluding many potentially important welfare determinants, such as health, relative income and religion – not surprising since they were not designed to fill this role. As a result, there is growing acceptance, and use of, subjective measures of well-being (called ‘happiness’ or ‘life satisfaction’, often used interchangeably) both worldwide and in South Africa. Happiness economics does not propose to replace income-based measures of well-being, but rather attempts to complement them with broader measures, which can be important in making policy decisions that optimise societal welfare. This paper tests for differences in subjective well-being between race groups in South Africa, and investigates the determinants of self-rated life satisfaction for each group. Using the 2008 National Income Dynamics Study data, descriptive methods (analysis of variance) and an ordered probit model are applied. Results indicate that reported life satisfaction differs substantially among race groups, with black South Africans being the least satisfied group despite changes since the advent of democracy in 1994. Higher levels of educational attainment increased satisfaction for the whole sample, and women (particularly black women) are generally less satisfied than men. As found in many other studies, unemployed people have lower levels of life satisfaction than the employed, even when controlling for income and relative income. The determinants of life satisfaction are also different for each race group: white South Africans attach greater importance to physical health, whereas employment status and absolute income matter greatly for black people. For coloured people and black people, positional status (as measured by relative income) is an important determinant of well-being, with religious involvement contributing significantly to the well-being of Indian people.
- Full Text: false
- Date Issued: 2013
- Authors: Ebrahim, Amina , Botha, Ferdi , Snowball, Jeanette D
- Date: 2013
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/69311 , vital:29497 , https://doi.org/10.1080/0376835x.2013.797227
- Description: Economic indicators, like gross domestic product per capita, are commonly used as indicators of welfare. However, they have a very limited and narrow scope, excluding many potentially important welfare determinants, such as health, relative income and religion – not surprising since they were not designed to fill this role. As a result, there is growing acceptance, and use of, subjective measures of well-being (called ‘happiness’ or ‘life satisfaction’, often used interchangeably) both worldwide and in South Africa. Happiness economics does not propose to replace income-based measures of well-being, but rather attempts to complement them with broader measures, which can be important in making policy decisions that optimise societal welfare. This paper tests for differences in subjective well-being between race groups in South Africa, and investigates the determinants of self-rated life satisfaction for each group. Using the 2008 National Income Dynamics Study data, descriptive methods (analysis of variance) and an ordered probit model are applied. Results indicate that reported life satisfaction differs substantially among race groups, with black South Africans being the least satisfied group despite changes since the advent of democracy in 1994. Higher levels of educational attainment increased satisfaction for the whole sample, and women (particularly black women) are generally less satisfied than men. As found in many other studies, unemployed people have lower levels of life satisfaction than the employed, even when controlling for income and relative income. The determinants of life satisfaction are also different for each race group: white South Africans attach greater importance to physical health, whereas employment status and absolute income matter greatly for black people. For coloured people and black people, positional status (as measured by relative income) is an important determinant of well-being, with religious involvement contributing significantly to the well-being of Indian people.
- Full Text: false
- Date Issued: 2013
Determinants of student satisfaction with campus residence life at a South African University
- Botha, Ferdi, Snowball, Jeanette D, De Klerk, Vivian A, Radloff, Sarah E
- Authors: Botha, Ferdi , Snowball, Jeanette D , De Klerk, Vivian A , Radloff, Sarah E
- Date: 2013
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/68543 , vital:29281 , https://econrsa.org/publications/working-papers/determinants-student-satisfaction-campus-residence-life-south-african
- Description: Publisher version , Although there are a number of studies on the determinants of general quality of life among university students, these occur mainly in developed countries and do not focus specifically on campus-based residence life. It has long been accepted that factors outside the classroom (“the other curriculum”) can contribute to academic success, as well as the achievement of other important outcomes such as the appreciation of human diversity. Striving towards equality of residence life satisfaction across different racial and gender groups, for example, is thus important for academic outcomes and for the development of well-functioning citizens. This study is based on the 2011 Quality of Residence Life (QoRL) Survey, conducted at a South African university, comprising roughly 2 000 respondents. Based on descriptive analyses and ordered probit regressions, the study investigates the association between satisfaction with QoRL and (i) residence milieu and characteristics, (ii) direct and indirect discrimination, (iii) perceptions of drug and alcohol issues in residence, (iv) safety, and (v) individual student characteristics. One of the main findings is that there are no significant differences in satisfaction with QoRL across racial and gender groups; a finding that suggests significant progress in university transformation and equity goals. The general atmosphere and characteristics of residences are also important predictors of QoRL satisfaction. , Economic Research Southern Africa (ERSA) is a research programme funded by the National Treasury of South Africa.
- Full Text:
- Date Issued: 2013
- Authors: Botha, Ferdi , Snowball, Jeanette D , De Klerk, Vivian A , Radloff, Sarah E
- Date: 2013
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/68543 , vital:29281 , https://econrsa.org/publications/working-papers/determinants-student-satisfaction-campus-residence-life-south-african
- Description: Publisher version , Although there are a number of studies on the determinants of general quality of life among university students, these occur mainly in developed countries and do not focus specifically on campus-based residence life. It has long been accepted that factors outside the classroom (“the other curriculum”) can contribute to academic success, as well as the achievement of other important outcomes such as the appreciation of human diversity. Striving towards equality of residence life satisfaction across different racial and gender groups, for example, is thus important for academic outcomes and for the development of well-functioning citizens. This study is based on the 2011 Quality of Residence Life (QoRL) Survey, conducted at a South African university, comprising roughly 2 000 respondents. Based on descriptive analyses and ordered probit regressions, the study investigates the association between satisfaction with QoRL and (i) residence milieu and characteristics, (ii) direct and indirect discrimination, (iii) perceptions of drug and alcohol issues in residence, (iv) safety, and (v) individual student characteristics. One of the main findings is that there are no significant differences in satisfaction with QoRL across racial and gender groups; a finding that suggests significant progress in university transformation and equity goals. The general atmosphere and characteristics of residences are also important predictors of QoRL satisfaction. , Economic Research Southern Africa (ERSA) is a research programme funded by the National Treasury of South Africa.
- Full Text:
- Date Issued: 2013
Does national sporting performance affect stock market returns in South Africa?
- Authors: Botha, Ferdi , De Beer, Carl
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396023 , vital:69144 , xlink:href="https://hdl.handle.net/10520/EJC135922"
- Description: This study explores whether South African national sporting performance can influence investors in such a way that it has the ability to impact on market returns. Using standard event study methodology, this study determines the constant mean return using the daily All-Share price index on the JSE for the period of 1 January 1990 to 31 December 2010. This study focuses on three of South Africa's most popular sports, namely soccer, cricket and rugby, and examines if these three sports have the ability to influence market returns. Although there is some evidence of a relationship between stock returns and sporting performance in the descriptive analysis, the regression results indicate that sporting performance in South Africa does not significantly explain abnormal market returns on the JSE. The study provides a number of possible reasons for this finding and concludes by suggesting areas for future research.
- Full Text:
- Date Issued: 2013
- Authors: Botha, Ferdi , De Beer, Carl
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396023 , vital:69144 , xlink:href="https://hdl.handle.net/10520/EJC135922"
- Description: This study explores whether South African national sporting performance can influence investors in such a way that it has the ability to impact on market returns. Using standard event study methodology, this study determines the constant mean return using the daily All-Share price index on the JSE for the period of 1 January 1990 to 31 December 2010. This study focuses on three of South Africa's most popular sports, namely soccer, cricket and rugby, and examines if these three sports have the ability to influence market returns. Although there is some evidence of a relationship between stock returns and sporting performance in the descriptive analysis, the regression results indicate that sporting performance in South Africa does not significantly explain abnormal market returns on the JSE. The study provides a number of possible reasons for this finding and concludes by suggesting areas for future research.
- Full Text:
- Date Issued: 2013
Stock returns and Friday the 13th effect in five African countries
- Authors: Botha, Ferdi
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396127 , vital:69152 , xlink:href="https://www.ajol.info/index.php/aref/article/view/91060"
- Description: This study is concerned with Friday the 13th and daily stock market returns in five African countries. Using the MSCI Global Equity Indices during various periods, the evidence overwhelmingly suggests that there is no Friday the 13th effect.
- Full Text:
- Date Issued: 2013
- Authors: Botha, Ferdi
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396127 , vital:69152 , xlink:href="https://www.ajol.info/index.php/aref/article/view/91060"
- Description: This study is concerned with Friday the 13th and daily stock market returns in five African countries. Using the MSCI Global Equity Indices during various periods, the evidence overwhelmingly suggests that there is no Friday the 13th effect.
- Full Text:
- Date Issued: 2013
The gold of one’s ring is not far more precious than the gold of one’s heart: Reported life satisfaction among married and cohabitating South African adults
- Botha, Ferdi, Booysen, Frikkie
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396181 , vital:69156 , xlink:href=" https://doi.org/10.1007/s10902-012-9337-3"
- Description: This paper tests for differences in reported life satisfaction between married and cohabiting persons, i.e. the cohabitation gap, and in particular whether selection factors can explain the cohabitation gap. The paper also explores whether age at marriage and at start of cohabitation as well as the duration of relationship type matters for subjective well-being. Based on statistical and regression analysis of the 2008 National Income Dynamics Survey, married and cohabiting persons exhibit some differences in their respective determinants of life satisfaction. While the age at relationship commencement has no relationship with well-being, there is evidence to suggest that married people become more satisfied at a later stage in marriage, while cohabitants are more satisfied initially. A significant cohabitation gap exists (0.251), but after controlling for various selection factors, the cohabitation gap virtually disappears (0.042) and becomes insignificant, which suggests that marriage and cohabitation are very similar in South Africa. Relative income, absolute income, and education explain the largest part of the cohabitation gap. Against the global backdrop of an increasing trend towards cohabitation and declining marriage rates, the overall results of this paper suggest that, since a cohabitation gap no longer exists after controlling for selection factors, South Africans may as well not go the “official route” of entering into marriage, as cohabitation provides similar benefits in terms of its contribution to individual satisfaction with life.
- Full Text:
- Date Issued: 2013
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396181 , vital:69156 , xlink:href=" https://doi.org/10.1007/s10902-012-9337-3"
- Description: This paper tests for differences in reported life satisfaction between married and cohabiting persons, i.e. the cohabitation gap, and in particular whether selection factors can explain the cohabitation gap. The paper also explores whether age at marriage and at start of cohabitation as well as the duration of relationship type matters for subjective well-being. Based on statistical and regression analysis of the 2008 National Income Dynamics Survey, married and cohabiting persons exhibit some differences in their respective determinants of life satisfaction. While the age at relationship commencement has no relationship with well-being, there is evidence to suggest that married people become more satisfied at a later stage in marriage, while cohabitants are more satisfied initially. A significant cohabitation gap exists (0.251), but after controlling for various selection factors, the cohabitation gap virtually disappears (0.042) and becomes insignificant, which suggests that marriage and cohabitation are very similar in South Africa. Relative income, absolute income, and education explain the largest part of the cohabitation gap. Against the global backdrop of an increasing trend towards cohabitation and declining marriage rates, the overall results of this paper suggest that, since a cohabitation gap no longer exists after controlling for selection factors, South Africans may as well not go the “official route” of entering into marriage, as cohabitation provides similar benefits in terms of its contribution to individual satisfaction with life.
- Full Text:
- Date Issued: 2013
The relationship between marital status and life satisfaction among South African adults
- Botha, Ferdi, Booysen, Frikkie
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396207 , vital:69158 , xlink:href="https://hdl.handle.net/10520/EJC138900"
- Description: This article examines the association between marital status and reported life satisfaction in South Africa. Using the 2008 National Income Dynamics Survey, the relationship between marital status and life satisfaction is heterogeneous. In the overall sample, life satisfaction is significantly higher for married compared to widowed individuals, while the former are more satisfied than those from all other marital statuses. In the overall and female samples, married people are more satisfied compared to those from all other marital status groups. Married men are not significantly more satisfied than men from other marital statuses as a whole. Marriage is positively associated with life satisfaction among women, but not among men.
- Full Text:
- Date Issued: 2013
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2013
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396207 , vital:69158 , xlink:href="https://hdl.handle.net/10520/EJC138900"
- Description: This article examines the association between marital status and reported life satisfaction in South Africa. Using the 2008 National Income Dynamics Survey, the relationship between marital status and life satisfaction is heterogeneous. In the overall sample, life satisfaction is significantly higher for married compared to widowed individuals, while the former are more satisfied than those from all other marital statuses. In the overall and female samples, married people are more satisfied compared to those from all other marital status groups. Married men are not significantly more satisfied than men from other marital statuses as a whole. Marriage is positively associated with life satisfaction among women, but not among men.
- Full Text:
- Date Issued: 2013
A Note on the (Continued) Ability of the Yield Curve to Forecast Economic Downturns in South Africa
- Authors: Botha, Ferdi , Keeton, Gavin
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/395994 , vital:69142 , xlink:href="https://doi.org/10.1111/saje.12053"
- Description: In 2002-2003, the South African yield spread falsely signalled a downswing that never materialised. This paper provides two reasons for this false signal. First, while the Reserve Bank never actually officially declared the start of a downswing, by alternative measures a downswing did actually occur. It is this severe weakness in economic activity at that time that the yield curve pointed to. Second, short-term interest rates in 2003 were higher than they should have been because of a mistake made in measuring consumer price inflation. Because South Africa had recently introduced an inflation-targeting regime, policy interest rates were, as a result of this error, kept too high for too long. This policy mistake was rectified as soon as the error in the Consumer Price Index was discovered. Thus, the yield curve in 2003 pointed to the reality that short-term interest rates were too high and risked pushing the economy into full blown recession. This is demonstrated by the fact that it was a fall in long bond interest rates that caused the yield spread to turn negative, indicating expectations that short-term interest rates would need to be cut – as indeed they were.
- Full Text:
- Date Issued: 2014
- Authors: Botha, Ferdi , Keeton, Gavin
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/395994 , vital:69142 , xlink:href="https://doi.org/10.1111/saje.12053"
- Description: In 2002-2003, the South African yield spread falsely signalled a downswing that never materialised. This paper provides two reasons for this false signal. First, while the Reserve Bank never actually officially declared the start of a downswing, by alternative measures a downswing did actually occur. It is this severe weakness in economic activity at that time that the yield curve pointed to. Second, short-term interest rates in 2003 were higher than they should have been because of a mistake made in measuring consumer price inflation. Because South Africa had recently introduced an inflation-targeting regime, policy interest rates were, as a result of this error, kept too high for too long. This policy mistake was rectified as soon as the error in the Consumer Price Index was discovered. Thus, the yield curve in 2003 pointed to the reality that short-term interest rates were too high and risked pushing the economy into full blown recession. This is demonstrated by the fact that it was a fall in long bond interest rates that caused the yield spread to turn negative, indicating expectations that short-term interest rates would need to be cut – as indeed they were.
- Full Text:
- Date Issued: 2014
Family functioning and life satisfaction and happiness in South African households
- Botha, Ferdi, Booysen, Frikkie
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396048 , vital:69146 , xlink:href="https://doi.org/10.1007/s11205-013-0485-6"
- Description: Families form an integral part of society and in fostering individual well-being. Despite the acknowledged importance of family, the association between family functioning and individual well-being outcomes have remained unexplored in the current body of knowledge. This paper explores the association between family functioning and reported levels of life satisfaction and happiness in South Africa. The paper employs the Family Attachment and Changeability Index (FACI8) to measure family functioning, using data from the 2011 South African Social Attitudes Survey. Four measures of family functioning are utilised, namely the aggregate FACI8 scale, the attachment and changeability sub-scales, and family functioning type. Improvements in the level of family functioning as well as in the levels of attachment and changeability are positively associated with life satisfaction and happiness. In addition, individuals living in midrange or balanced family functioning types are more satisfied with life and happier compared to persons living in extremely or moderately dysfunctional families. The findings highlight the importance of supportive intra-family dynamics in fostering greater individual well-being. This in turn places emphasis on the investigation of likely correlates of family functioning and impact evaluations of family-focused social work interventions’ impact on family functioning as areas for future research.
- Full Text:
- Date Issued: 2014
- Authors: Botha, Ferdi , Booysen, Frikkie
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396048 , vital:69146 , xlink:href="https://doi.org/10.1007/s11205-013-0485-6"
- Description: Families form an integral part of society and in fostering individual well-being. Despite the acknowledged importance of family, the association between family functioning and individual well-being outcomes have remained unexplored in the current body of knowledge. This paper explores the association between family functioning and reported levels of life satisfaction and happiness in South Africa. The paper employs the Family Attachment and Changeability Index (FACI8) to measure family functioning, using data from the 2011 South African Social Attitudes Survey. Four measures of family functioning are utilised, namely the aggregate FACI8 scale, the attachment and changeability sub-scales, and family functioning type. Improvements in the level of family functioning as well as in the levels of attachment and changeability are positively associated with life satisfaction and happiness. In addition, individuals living in midrange or balanced family functioning types are more satisfied with life and happier compared to persons living in extremely or moderately dysfunctional families. The findings highlight the importance of supportive intra-family dynamics in fostering greater individual well-being. This in turn places emphasis on the investigation of likely correlates of family functioning and impact evaluations of family-focused social work interventions’ impact on family functioning as areas for future research.
- Full Text:
- Date Issued: 2014
Life satisfaction and education in South Africa: Investigating the role of attainment and the likelihood of education as a positional good
- Authors: Botha, Ferdi
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396091 , vital:69149 , xlink:href="https://doi.org/10.1007/s11205-013-0452-2"
- Description: This paper explores various dynamics in the relationship between life satisfaction and education in South Africa using the 2008 National Income Dynamics Survey. The results indicate a strong positive association between educational attainment and individual satisfaction with life, which is true in the overall sample and for men and women. This positive relationship also holds for Black and Coloured individuals, but is insignificant in the Asian and White samples. Evidence indicates that education is a positional good, in that people who have attained more than the mean level of education in their relevant cluster are significantly more satisfied with life compared to those possessing less than the mean education.
- Full Text:
- Date Issued: 2014
- Authors: Botha, Ferdi
- Date: 2014
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396091 , vital:69149 , xlink:href="https://doi.org/10.1007/s11205-013-0452-2"
- Description: This paper explores various dynamics in the relationship between life satisfaction and education in South Africa using the 2008 National Income Dynamics Survey. The results indicate a strong positive association between educational attainment and individual satisfaction with life, which is true in the overall sample and for men and women. This positive relationship also holds for Black and Coloured individuals, but is insignificant in the Asian and White samples. Evidence indicates that education is a positional good, in that people who have attained more than the mean level of education in their relevant cluster are significantly more satisfied with life compared to those possessing less than the mean education.
- Full Text:
- Date Issued: 2014
Art investment as a portfolio diversification strategy in South Africa
- Botha, Ferdi, Scott, Brett, Snowball, Jeanette D
- Authors: Botha, Ferdi , Scott, Brett , Snowball, Jeanette D
- Date: 2015
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/67422 , vital:29086
- Description: publisher version , Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel Art Price index offered the opportunity to test this theory in the South African context. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A VAR of the art price index, Johannesburg Stock Exchange all-share index, house price index, and South African government bond index were used. Flowing from the VAR results, additional analyses included variance decomposition, impulse response, and, to determine volatility, variance and standard deviation measures for each index. Results show that, when there are increased returns on the stock market in the previous period and wealth increases, there is a change in the Citadel Art Price Index in the same direction. This finding is consistent with Goetzmann et al. (2009), who reported that there is a strong relationship between art and equity markets and that art price changes are driven by capital gains and losses. No significant difference was found between the house price index and the art price index, and neither between the art and government bond price indices. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.
- Full Text:
- Date Issued: 2015
- Authors: Botha, Ferdi , Scott, Brett , Snowball, Jeanette D
- Date: 2015
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/67422 , vital:29086
- Description: publisher version , Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel Art Price index offered the opportunity to test this theory in the South African context. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A VAR of the art price index, Johannesburg Stock Exchange all-share index, house price index, and South African government bond index were used. Flowing from the VAR results, additional analyses included variance decomposition, impulse response, and, to determine volatility, variance and standard deviation measures for each index. Results show that, when there are increased returns on the stock market in the previous period and wealth increases, there is a change in the Citadel Art Price Index in the same direction. This finding is consistent with Goetzmann et al. (2009), who reported that there is a strong relationship between art and equity markets and that art price changes are driven by capital gains and losses. No significant difference was found between the house price index and the art price index, and neither between the art and government bond price indices. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.
- Full Text:
- Date Issued: 2015
Determinants of student satisfaction with campus residence life at a South African university
- Botha, Ferdi, Snowball, Jeanette D, De Klerk, Vivian A, Radloff, Sarah E
- Authors: Botha, Ferdi , Snowball, Jeanette D , De Klerk, Vivian A , Radloff, Sarah E
- Date: 2015
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/69277 , vital:29475 , https://doi.org/10.1007/978-3-319-15904-1_2
- Description: Factors outside the classroom can contribute to academic success as well as the achievement of important outcomes such as the appreciation of human diversity. Striving towards equality of residence life satisfaction is thus important for academic outcomes and for the development of well-functioning citizens. This study is based on the 2011 Quality of Residence Life (QoRL) Survey, conducted at a South African university, comprising roughly 2,000 respondents. The study investigates the association between satisfaction with QoRL and (i) residence milieu and characteristics, (ii) direct and indirect discrimination, (iii) perceptions of drug and alcohol issues in residence, (iv) safety, and (v) individual student characteristics. One main finding is that there are no significant differences in satisfaction with QoRL across racial and gender groups; suggesting significant progress in university transformation and equity goals. The general atmosphere and characteristics of residences are also important predictors of QoRL satisfaction.
- Full Text: false
- Date Issued: 2015
- Authors: Botha, Ferdi , Snowball, Jeanette D , De Klerk, Vivian A , Radloff, Sarah E
- Date: 2015
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/69277 , vital:29475 , https://doi.org/10.1007/978-3-319-15904-1_2
- Description: Factors outside the classroom can contribute to academic success as well as the achievement of important outcomes such as the appreciation of human diversity. Striving towards equality of residence life satisfaction is thus important for academic outcomes and for the development of well-functioning citizens. This study is based on the 2011 Quality of Residence Life (QoRL) Survey, conducted at a South African university, comprising roughly 2,000 respondents. The study investigates the association between satisfaction with QoRL and (i) residence milieu and characteristics, (ii) direct and indirect discrimination, (iii) perceptions of drug and alcohol issues in residence, (iv) safety, and (v) individual student characteristics. One main finding is that there are no significant differences in satisfaction with QoRL across racial and gender groups; suggesting significant progress in university transformation and equity goals. The general atmosphere and characteristics of residences are also important predictors of QoRL satisfaction.
- Full Text: false
- Date Issued: 2015
Modelling stock return volatility dynamics in selected African markets
- Authors: King, Daniel , Botha, Ferdi
- Date: 2015
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396104 , vital:69150 , xlink:href=" https://doi.org/10.1016/j.econmod.2014.11.008"
- Description: This paper examines whether accounting for structural changes in the conditional variance process, through the use of Markov-switching models, improves estimates and forecasts of stock return volatility over those of the more conventional single-state (G)ARCH models, within and across selected African markets for the period 2002–2012. In the univariate portion of the paper, the performances of various Markov-switching models are tested against a single-state benchmark model through the use of in-sample goodness-of-fit and predictive ability measures. In the multivariate context, the single-state and Markov-switching models are comparatively assessed according to their usefulness in constructing optimal stock portfolios. Accounting for structural breaks in the conditional variance process, conventional GARCH effects remain important in capturing heteroscedasticity. However, those univariate models including a GARCH term perform comparatively poorly when used for forecasting purposes. In the multivariate study, the use of Markov-switching variance–covariance estimates improves risk-adjusted portfolio returns relative to portfolios constructed using the more conventional single-state models. While there is evidence that some Markov-switching models can provide better forecasts and higher risk-adjusted returns than those models which include GARCH effects, the inability of the simpler Markov-switching models to fully capture heteroscedasticity in the data remains problematic.
- Full Text:
- Date Issued: 2015
- Authors: King, Daniel , Botha, Ferdi
- Date: 2015
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/396104 , vital:69150 , xlink:href=" https://doi.org/10.1016/j.econmod.2014.11.008"
- Description: This paper examines whether accounting for structural changes in the conditional variance process, through the use of Markov-switching models, improves estimates and forecasts of stock return volatility over those of the more conventional single-state (G)ARCH models, within and across selected African markets for the period 2002–2012. In the univariate portion of the paper, the performances of various Markov-switching models are tested against a single-state benchmark model through the use of in-sample goodness-of-fit and predictive ability measures. In the multivariate context, the single-state and Markov-switching models are comparatively assessed according to their usefulness in constructing optimal stock portfolios. Accounting for structural breaks in the conditional variance process, conventional GARCH effects remain important in capturing heteroscedasticity. However, those univariate models including a GARCH term perform comparatively poorly when used for forecasting purposes. In the multivariate study, the use of Markov-switching variance–covariance estimates improves risk-adjusted portfolio returns relative to portfolios constructed using the more conventional single-state models. While there is evidence that some Markov-switching models can provide better forecasts and higher risk-adjusted returns than those models which include GARCH effects, the inability of the simpler Markov-switching models to fully capture heteroscedasticity in the data remains problematic.
- Full Text:
- Date Issued: 2015
Subjective well-being in Africa
- Botha, Ferdi, Snowball, Jeanette D
- Authors: Botha, Ferdi , Snowball, Jeanette D
- Date: 2015
- Language: English
- Type: article , text
- Identifier: http://hdl.handle.net/10962/61084 , vital:27946
- Description: Research on quality of life and subjective well-being (SWB) has witnessed a remarkable growth over the past four decades or so. Since Easterlin’s (1974) seminal contribution on the relationship between happiness and income, thousands of studies have followed that examine the intricacies of subjective well-being (for reviews, see Frey and Stutzer, 2002; Dolan et al., 2008; MacKerron, 2012). These studies have uncovered some very important aspects of individual well-being and have pointed to the fact that money or income is not always (as is often assumed) the most important determinant of SWB.
- Full Text:
- Date Issued: 2015
- Authors: Botha, Ferdi , Snowball, Jeanette D
- Date: 2015
- Language: English
- Type: article , text
- Identifier: http://hdl.handle.net/10962/61084 , vital:27946
- Description: Research on quality of life and subjective well-being (SWB) has witnessed a remarkable growth over the past four decades or so. Since Easterlin’s (1974) seminal contribution on the relationship between happiness and income, thousands of studies have followed that examine the intricacies of subjective well-being (for reviews, see Frey and Stutzer, 2002; Dolan et al., 2008; MacKerron, 2012). These studies have uncovered some very important aspects of individual well-being and have pointed to the fact that money or income is not always (as is often assumed) the most important determinant of SWB.
- Full Text:
- Date Issued: 2015
Art investment in South Africa: portfolio diversification and art market efficiency
- Botha, Ferdi, Snowball, Jeanette D, Scott, Brett
- Authors: Botha, Ferdi , Snowball, Jeanette D , Scott, Brett
- Date: 2016
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/64794 , vital:28601 , http://www.dx.doi.org/10.17159/2222-3436/2016/v19n3a4
- Description: Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel art price index offered the opportunity to test this theory in the South African context. Moreover, this paper tests whether art prices are efficient. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A vector autoregression of the art price index, Johannesburg stock exchange all-share index, house price index, and South African government bond index were used. Results show that, when there are increased returns on the stock market in a preceding period and wealth increases, there is a change in the Citadel art price index in the same direction. No significant difference was found between the house price index and the art price index, or between the art and government bond price indices. The art market is also found to be inefficient, thereby exacerbating the risk of investing in art. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.
- Full Text:
- Date Issued: 2016
- Authors: Botha, Ferdi , Snowball, Jeanette D , Scott, Brett
- Date: 2016
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/64794 , vital:28601 , http://www.dx.doi.org/10.17159/2222-3436/2016/v19n3a4
- Description: Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel art price index offered the opportunity to test this theory in the South African context. Moreover, this paper tests whether art prices are efficient. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A vector autoregression of the art price index, Johannesburg stock exchange all-share index, house price index, and South African government bond index were used. Results show that, when there are increased returns on the stock market in a preceding period and wealth increases, there is a change in the Citadel art price index in the same direction. No significant difference was found between the house price index and the art price index, or between the art and government bond price indices. The art market is also found to be inefficient, thereby exacerbating the risk of investing in art. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.
- Full Text:
- Date Issued: 2016
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Brock, Kelcey, Fraser, Gavin C G, Botha, Ferdi
- Authors: Brock, Kelcey , Fraser, Gavin C G , Botha, Ferdi
- Date: 2016
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/69362 , vital:29508 , https://doi.org/10.4102/jef.v9i3.64
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspects that underpin or at least to some extent explain consumer behaviour. Empirical studies on consumption behaviour of cultural activities, entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to investigate consumption of leisure activities. The aim of this study is to investigate whether South African cricket spectators are sporting omnivores or univores. The study was conducted among cricket spectators in the Eastern Cape at four limited overs cricket matches in the 2012/2013 cricket season. The results indicate that consumption behaviour of sport 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: 2016
Sport consumption patterns in the Eastern Cape: cricket spectators as sporting univores or omnivores
- Authors: Brock, Kelcey , Fraser, Gavin C G , Botha, Ferdi
- Date: 2016
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/69362 , vital:29508 , https://doi.org/10.4102/jef.v9i3.64
- Description: Since its inception, consumption behaviour theory has developed to account for the important social aspects that underpin or at least to some extent explain consumer behaviour. Empirical studies on consumption behaviour of cultural activities, entertainment and sport have used Bourdieu’s (1984) omnivore/univore theory to investigate consumption of leisure activities. The aim of this study is to investigate whether South African cricket spectators are sporting omnivores or univores. The study was conducted among cricket spectators in the Eastern Cape at four limited overs cricket matches in the 2012/2013 cricket season. The results indicate that consumption behaviour of sport 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: 2016