Theses and Dissertations (School of Economics and Finance)

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Acceptance of online shopping by individuals in South African townships
(2018) Dzimati, Shorai
Internet connectivity has revolutionised the way we conduct our day-to-day activities like banking, communication, travelling arrangements and shopping. Internet has enabled the birth of many technological innovations throughout the world including online shopping. Online shopping is the process of purchasing goods and services from online stores also known as e-tailers over the internet. In developing countries like South Africa, buying and selling of commodities makes up most of the economic activities. Individuals. With the increase in internet connectivity, individuals now have an option to replace the traditional brick and mortar shopping with online shopping. Although online technology is already in maturity phase in the developed countries, for South Africa as a developing country, it is still in its infancy. This might be attributed to factors that may include late penetration of the internet as well as logistical challenges which common in most developing countries. South Africa as a developing country needs technology to grow its economy into a developed country and online technology is one of the key technologies required to achieve this. The majority South African population comes from the townships which means that township dwellers constitute the majority of the consumers. Online shopping technology has potential to contribute towards the growth of small and medium-sized enterprises (SMEs) which is a key part of the South African economy. This demographic set up in South Africa makes it critical for business and academics to understand the acceptance of technology in South African townships, with online shopping being one of these key technologies. The study investigated factors affecting acceptance of online shopping by individuals in South African townships using the adapted unified theory of technology acceptance theory (UTAUT). Using a hypothetical model to test various hypotheses, the study followed a positivist research paradigm. Through the theoretical lens of the adapted unified theory of acceptance and use of technology (UTAUT). A survey was used as the data collection method. The hypotheses were tested and analysed to further understand the factors affecting acceptance of online shopping by individuals in South Africa. Findings of this study revealed that the elements of the adapted unified theory of technology acceptance theory (UTAUT) are strong in predicting acceptance of online shopping in South African townships. Elements like performance expectancy, effort expectancy, social influence as well as trust proved to be significant in predicting acceptance of online technology. This research will assist academics and practitioners to further understand the acceptance of online shopping by individuals.
An analysis of the income tax consequences attendant upon the transfer of contingent liabilities in the sale of a business as a going concern
(2017) Hansraj, Shivona
The transfer of contingent liabilities as part of a sale of business transaction has always been a contentious issue. In particular, there is still a measure of uncertainty in whose hands, if any, contingent liabilities transferred as part of a sale of business may be deductible. Sale of business agreements may be structured in various ways, for example, the purchaser may acquire the seller’s business in exchange for cash, the creation of a loan account, or the assumption of liabilities. Furthermore, in the context of intra-group transactions to which the group roll-over relief provisions apply, the Income Tax Act 19621 (‘the Income Tax Act’) does not specifically address the transfer of contingent liabilities. This research report addresses the income tax consequences arising from the transfer of contingent liabilities from the seller to the purchaser, including an analysis of the relevant group roll-over relief provisions. Key words: Ackermans Judgment, Actually Incurred, Contingent Liabilities, Free-standing Contingent Liabilities, General Deduction Formula, Group roll-over relief, Interpretation Note 94, Sale of Business Transaction, SARS.
Assessing alternative monetary policy frameworks and instruments in selected African economies
(2017) Chiumia, Austin Belewa
This thesis contains three core chapters that assess the performance of alternative monetary policy frameworks and instruments in stabilizing 10 selected African economies. Literature and practice show that Advanced Economies (AEs) and Emerging Market Economies (EMEs) are mostly adopting the ination targeting (IT) framework. This framework relies on active use of the interest rate as a policy instrument for macroeconomic stabilisation. Di⁄erent from AEs and EMEs, the majority of African countries are characterized by low nancial market development, frequent supply shocks and volatile terms of trade. These features impede the e¢ ciency of the IT framework and the interest rate instrument. Supply shocks imply that ination is not only demand driven. Volatile terms of trade translate into excessive exchange rate uctuations. Due to these factors, policy practice in Africa remains largely divergent from the global trend. Authorities still rely on monetary aggregate targeting (MAT) with de facto managed exchange rates. However, the MAT framework is also failing to stabilize economies. This follows instability of the key factors, such as the money demand, upon which the framework is anchored. Furthermore, controlling exchange rate movements is a challenge due to weak balance of payments positions. It is not surprising, therefore, that the majority of African economies still remain in the grip of macroeconomic instability. Ination and GDP targets are rarely met and they also remain volatile. The perverse macroeconomic features and the perceived failure of the MAT regime have necessitated the search for alternative monetary frameworks and instruments. In this study, we join the search by specically focussing on three questions. First, given the macroeconomic landscape in Africa, what is the relative performance of the interest rate vis--vis the monetary aggregate as instru iv ments for macroeconomic stabilization? Secondly, how do these instruments perform when apart from ination and output stabilization, monetary policy also engages in smoothing exchange rate uctuations? Thirdly, what is the relative performance of ination targeting vis--vis nominal GDP targeting as alternative monetary policy regimes for macroeconomic stabilization in African economies? Although the success of monetary policy largely relies on appropriate conguration of monetary policy frameworks and instruments, answers to these questions remain controversial and scanty for African economies. In order to address these questions, we formulate a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model. In this model, money is non-separable from consumption in the utility function. We estimate the model using the Maximum Likelihood method with quarterly data mostly from 1990 to 2014. The data is obtained from the International Financial Statistics (IFS). The thesis has ve chapters. Chapter 1 is the general background to the research problem. Chapters 2, 3 and 4 are distinct but related core chapters addressing three specic research questions. Chapter 5 is the conclusion. In Chapter 2, we compare the performance of the monetary aggregate and the interest rate as alternative instruments for stabilizing ination and output in 10 selected countries. Results show that the monetary aggregate is superior in stabilizing 5 economies. In the other 5 countries, it is the interest rate instrument which performs better. In the former group of countries, the monetary aggregate plays a relatively large role in macroeconomic dynamics while in the latter the interest rate is more signicant. These results partly reect di⁄erences in nancial market development between the two groups of countries. Overall, we nd a weak role of the interest rate compared to the monetary aggregate in driving aggregate demand dynamics. The exchange rate is also found to be a key driver of macroeconomic dynamics. Our re v sults suggest three things: First, authorities in Africa need to be cautious of a blanket adoption of the interest rate as a sole monetary policy instrument. Second, authorities will nd it di¢ cult to stabilize economies using the interest rate based frameworks. Third, exchange rate stability is key to macroeconomic stability in Africa. In Chapter 3, we extend the authoritiesobjective function. In addition to minimizing ination and output volatility, authorities also use the interest rate or money supply rules to smooth exchange rate uctuations. The results show that macroeconomic performance is enhanced when authorities smooth exchange rate uctuations in 4 of the 10 countries. The gains from exchange rate smoothing mostly arise from a reduction in ination and exchange rate volatility but not fromoutput. In the other 6 countries, exchange rate smoothing worsens macroeconomic performance. These results reect the fact that the exchange rate exerts a relatively large inuence in macroeconomic dynamics in the rst group of countries compared to the latter. Exchange rate smoothing therefore minimizes the pass-through of the exchange uctuations to ination and output leading to better performance. Overall, the ndings suggest that exchange rate smoothing is harmful in Africa. Where exchange rate smoothing delivers gains, appropriate thresholdsofsmoothingneedtobeobservedtoavoidpolicyinducedmacroeconomic instability. Authorities should also smooth temporal rather that structural shifts in the exchange rate level. In Chapter 4, we compare the performance of ination targeting (IT) vis-vis nominal GDP targeting (NGDPT) as alternative monetary policy frameworks for macroeconomic stabilization. We examine the strict and exible versions of these policy regimes. We also include a hybrid regime which combines elements of IT and NGDPT. Results show that the hybrid regime performs better in 5 countries. In the other 4 countries, it is the strict ination targeting that performs better. In 1 country, exible ination tar vi geting is optimal. The results also reveal that demand shocks dominate but are closely trailed by supply and exchange rate shocks in explaining macroeconomic uctuations. The multiplicity of signicant shocks is key in explaining the dominance of the hybrid regime. The hybrid regime successfully handles shocks that can neither be optimally handled by the IT regime nor the NGDPT regime alone. These results have several implications. First, demand management alone is insu¢ cient to stabilize African economies. Second, identifying dominant shocks is critical for choosing robust monetary policy regimes. Third, the multiplicity of signicant shocks implies that choosing monetary policy frameworks and hence macroeconomic management process is more complex for African policy makers. Overall, the results have several policy implications which are outlined in Chapter 5. First, they suggest a cautious approach towards generalized adoption of the interest rate over the monetary aggregate as a monetary policy instrument in African economies. This contradicts the current wave of monetary policy changes sweeping across African countries. Secondly, the signicanceoftheexchangeraterenderscredencetoexchangeratesmoothing in Africa. The ndings, however, suggest that exchange rate smoothing can either enhance or worsen macroeconomic performance. Where it enhances macroeconomic performance, authorities must carefully consider the thresholds of smoothing to avoid creating macroeconomic instability. Authorities need not ght structural shifts in exchange rates levels through smoothing. This would help to preserve the shock absorbing role of the exchange rate. Finally, the prevalence of demand, supply as well as exchange rate shocks makes the hybrid monetary policy regime which combines elements of IT regime as well as NGDPT regime to perform relatively better in stabilizing the majority of the economies. Given the multiplicity of shocks, authorities inAfricaneedtocomplementdemandmanagementwithpoliciesthataddress supply side and exchange rate bottlenecks to ensure sustainable macroeco vii nomic stability. Overall, the ndings suggest that there is scope to improve monetary policy performance in Africa by adopting suitable frameworks and instruments. The results also highlight the problem of tackling monetary policy issues with a "one size ts all" approach.
Competing theories of the wage-price spiral and their forecast ability
(2017) Mokoka, Tshepo
This thesis contains three main chapters. The rst chapter employs wageprice spirals to generate ination forecasts for Australia, Canada, France, South Korea, South Africa, United Kingdom and the United States. We use three competing specications of the wage-price spirals, and test which specication provides the best forecasts of price ination. For each specication we provide one quarter, four quarter and eight quarter ahead dynamic forecasts of price ination. The rst two wage-price spirals in the rst chapter are from the Keynesian tradition from te standpoint of expectations formation. The chapter also considers the New Keynesian wage-price spiral. We use the Root Means Square Error and the Clark and West statistic to compare the performance of ination forecasts from the three competing wage-price spirals that we consider in the rst chapter of the thesis. We nd that the New Keynesian wage and price specication su⁄ers from the wrong sign problem, and its forecasts of price ination generally outperform those from the old Keynesian wage price spiral for the eight quarter ahead time horizon. The usefulness of this nding to the conduct of monetary policy is limited due to the wrong sign problem of the forcing variable in the New Keynesian wageprice spiral. We also nd that the Flaschel type specication of price and wage ination produce four and eight quarter head ination forecasts that are better than those from the Fair type specication. We further nd that the Fair type specication price and wage equation produce the best forecasts of ination for the one quarter ahead time horizon. In the second chapter, we estimate natural variables and test their ability to explain the ination process for the eight countries that we consider. We use the traditional Keynesian wage-price spiral and the triangle system approaches to estimate the NAIRU and potential output. In the case of the traditional Keynesian wage-price spiral, the price Phillips curve, which can be specied as a triangle Phillips curve, features backward looking ination expectations and nominal wage ination, the output gap and supply shocks. The nominal wage Phillips curve features ination expectations and price ination and the unemployment gap. The presence of price ination in the nominal wage Phillips curve and the presence of nominal wage ination in the price Phillips curve leads to the interaction between the two Phillips curves. The separate demand pressure terms allows for their identication since, as someauthorsintheliteraturearguethatthegoodsandlabourmarketsdonot move in line with each other. To compute the NAIRU and potential output using the Keynesian approach, we rstly exploit the information contained in vector of unobservable by estimating the wage-price spiral in di⁄erence form using the Seemingly Unrelated Regression method. We use this regression method in order to control for any correlation that may exist between errors in the price and wage Phillips curves. This allows us to solve for the vector of potential output and the NAIRU. We then the moving average technique in order to avoid problems associated with the HP lter for smoothing. Due to data availability, use the MA (20) approximation of the low pass lter after padding the endpoints with forecasts from an AR(4) process. We follow a similar procedure in the estimation of the estimation of the NAIRU and potential output for the triangle system approach. To test which method produces the best natural variables, we t the gaps that are computed from the NAIRU and potential output in a simple single equation price Phillips curve. To test which specication produces the best natural varibles we use a simple single equation triangle price Phillips curve. We nd that the output gaps computed from the two competing approaches are signicantly correlated, the same applies to the unemployment gaps computed from the two approaches. We nd that the quality of unemployment rate gaps computed from the Keynesian and triangle system approach to produce similar quality of results when tted to a single equation triangle price Phillips curve. The Keynesian approach slightly outperforms the triangle systems approach in the when considering the output gap as a proxy for the demand pressure. These results indicate that the wage-price spiral still remains an important tool in the determination of the dynamics ination. In the third chapter, we analyze the relationship between monetary policy and natural variables for Australia, Canada, France, South Korea, South Africa, United Kingdom and the United States. We do this by specifying a relationship between natural rates and the real interest rate. The theoretical relationship between the two variables is positive in the case of the NAIRU and negative through Okuns law in the case of potential output. We regress the natural variable against a constant and the MA(8) of the real interest rate. We nd that the parameter of the real interest rate generally has a correct sign when considering the Keynesian approach computed NAIRUs, with only four being signicant. In the case of the triangle system approach NAIRU, we nd that the real interest rate parameter has a correct sign and signicant four countries. We nd that NAIRUs computed using di⁄erent methodologies can produce a di⁄erent reference point for policy makers. We then introduce hysteresis in the relationship between monetary policy and the NAIRU. We then nd that the interest rate parameter generally has a incorrect sign across the three approaches. The HP ltering approach which we include in our study for comparison purposes produces incorrect correlation for all the countries, while the Keynesian approach negative correlation for seven countries, and the triangle system approach in six countries. In the case of the relationship between monetary policy and potential output, we nd that the real interest rate parameter has an incorrect sign. When introducing hysteresis in the relationship between monetary policy and potential we nd that, unlike in the case of the NAIRU this plays signicant role in the relationship.
Core values as drivers of entrepreneurial performance A study of SMEs in Ugandas central region
Ismail Kintu; Robert Venter
A critical analysis from a South African perspective of advance pricing agreements for multinational enterprises
(2017) Gray, Mariska
Tax Base Erosion and Profit Shifting (BEPS)1 has become an epidemic of global legal tax avoidance being used by Multinational Enterprises (MNEs). BEPS has resulted in the structuring of transactions within groups of companies, with these including: transfer pricing, manipulating prices of goods, services, management fees, professional fees, royalties, interest and dividends. This study is a critical analysis of South African legislation in relation to the Double Taxation Agreement (DTA) with the United Kingdom (UK). Reference is made to the Mutual Agreement Procedure (MAP) as proposed by the Organisation for Economic Co-operation and Development (OECD).2 Even though South Africa follows the OECD guidelines (2010),3 Advance Pricing Agreements (APA) are not included in South African legislation, which may result in double non-taxation or double taxation and disputes. Recourse in the event of double taxation is examined in this research report. The application of APA legislation in the UK, as a leading tax authority,4 is analysed, as well as Davis Tax Committee recommendations in relation to Transfer Pricing. KEYWORDS Advance Pricing Agreement, Arm’s length price, Base Erosion and Profit Shifting, Davis Tax Committee, Double Taxation, Double Taxation Agreement, Multinational Enterprises, Mutual Agreement Procedure, OECD, South African Revenue Service, Transfer Pricing. 1 Organisation for Economic Co-operation and Development (OECD). (n.d.a), ‘About BEPS and the inclusive framework’, , retrieved 5 November 2016. 2 Organisation for Economic Co-operation and Development (OECD). (2010b), Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. Paris: OECD. 3 Supra note 2. 4 Broomberg, E. B. (2007), Tax avoidance then and now, Tax Planning Corporate and Personal, vol. 21, no. 5, pp112-118.
Customer and employee-based brand equity driving United Bank for Africa's market performance
(2017) Uford, Imoh Charles
With increased competition in the banking industry, particularly in developing economies, United Bank of Africa Plc (UBA) in Nigeria has been thriving. The bank is a multinational financial services provider, which operates in 22 African countries. It also has offices in the US, UK and France. UBA has about 626 global branches and serves more than seven million retail, commercial and corporate global customers. Positioned as a pan-African bank, the UBA Group is firmly in the forefront of driving the renaissance of the African economy. It is also well positioned as a one-stop financial services institution, with growing reputation as the face of banking on the African continent. UBA Plc has grown over the years from being just a brand name to a house hold name in Nigeria. In 2011, it was reported that UBA’s total assets was worth about $12.3 billion. The bank is also gearing to be one of the dominant and leading banking brands in Africa. While the measurement of UBA’s asset worth is important as it reveals information of its financial performance, it can be more important to measure the worth of its intangible assets, which is being captured from the assessment of its brand equity. Brand equity does not only comprise of an organization’s intangible assets, but does reflect the values consumers hold of a brand and can also secure long-term commercial and competitive advantages for companies. With the notion that the value or power of a brand lies in what customers perceive in their minds concerning the brand, most studies have measured brand equity mainly from the customer-based brand equity (CBBE) perspective using Aaker’s (1996a) and Keller’s (1998) models. Aaker’s (1996a) model is however considered to be the most comprehensive CBBE model and it measures brand equity from five dimensions – brand awareness, brand association, perceived quality, brand loyalty and proprietary assets. While CBBE can secure long-term market performance, it is being recommended that the contribution of employee-based brand equity (EBBE) should also be measured. This is particularly important in the service sector, such as banking, where “what is delivered is less important than how it is delivered”. More so, with the increasing importance of internal branding, there is a need to measure EBBE, which assesses how knowledgeable, happy and committed employees are willing to deliver on the brand promises to build brand equity. v In addition to the importance of measuring both CBBE and EBBE, there is also the need to further compare the extent to which both CBBE and EBBE predict market performance, an outcome anticipated, but rarely empirically tested. This study therefore employs Aaker’s (1996) CBBE model and Kwon’s (2013) EBBE model to examine the sources of UBA’s CBBE and EBBE respectively and the extent to which each of the equities drive market performance indicators, such as consumer purchase intention, willingness to pay a price premium and brand preference. A positivist research paradigm with a quantitative survey of 182 UBA employees and 178 UBA customers were used to test the hypotheses. The relationships hypothesized in the conceptual model were empirically tested using structural equation modeling (SEM). The results indicated that the conceptual model satisfactorily fitted the data and provided reasonable explanations among variables. In terms of the relationships, it was found that UBA’s CBBE was accounted for by brand associations or image and brand loyalty. UBA’s overall CBBE positively and significantly affected all the market performance indicators of purchase intention, willingness to pay a price premium and brand preference. UBA’s EBBE which was found to be positively and significantly driven by role clarity and brand commitment could only positively and significantly predict the bank customers’ willingness to pay a price premium. Conclusively, it was found that while UBA’s EBBE make some contribution to the bank’s market performance, its CBBE is the major driver of its performance. This study theoretically contributes by not only empirically testing Aaker’s (1996b) CBBE and Kwon’s (2013) EBBE in the Nigeria’s banking sector, but by also showing how both models explain market performance. Practically, the study reveals sources of CBBE and EBBE, which not only UBA should prioritize in improving their market performance, but other service sectors in Nigeria and the continent should take special note of. Keywords: Brand equity, customer-based brand equity (CBBE), employee-based brand equity (EBBE), United Bank for Africa (UBA) Plc, market performance, structural equation modelling (SEM), consumer purchase intention, willingness to pay a price premium and brand preference
Data charges, delivery dependability, geographical distance, product risk and information quallity as predictors of online purchase intention in the South African retail sector
(2017) Luthuli, Menelisi Minenhle
The continuous growth of e-commerce has led to a keen interest in the uptake of online shopping. This phenomenon is even more prevalent in developed western countries. However, penetration has taken place at a lessor rate in developing countries in most parts of Africa including South Africa. Apart from infrastructural capability and adequate online store reputation, the success of online shopping fundamentally rests upon e-tailers who are able to capture consumers by understanding what variables drive them to shop online. Although several studies have explored factors that drive online purchase intention, few have explored variables of interest as done in this present study. More specifically, this sort of research is scarce within the South African general merchandise online retail sector. This study aims to determine whether data charges, delivery dependability, geographical distance, product risk and information quality have any influence on consumers‘ online purchase intention. The conceptual model adopted in this study selected data charges, delivery dependability, geographical distance, product risk and information quality as predictor variables, online shopping satisfaction and trust as mediating variables and online purchase intention as the outcome variable. This is a quantitative study whereby 20 000 online survey questionnaires were distributed to a base of two renowned South African online retailers who predominately specialize in general merchandise. Of those distributed, 924 were complete and thus deemed useable by the researcher. The findings support all eight proposed hypotheses, therefore indicating that the aforementioned variables indeed influence online purchase intention at varying levels of significance. The study seeks to contribute new contextual knowledge, adding to the existing literature linked to online retailing and to contribute new empirical and theoretical findings. The research findings highlight new insights to marketing practitioners who, with better understanding of consumer decision making theory, will be able to create strategies that can be employed to influence consumers‘ online purchase intention in the South African general merchandise online retail sector. Keywords: E-commerce, online shopping, purchase intention, general merchandise retail.
The determinants of economic diversification from a Sub-Saharan African perspective
(2017) Masilo, Stanley
Sub-Saharan Africa (SSA) is poor even though it has vast natural resources, is a paradox which various scholars have studied from different points of view. Furthermore, this region has a tendency to be highly reliant on narrow natural resource export baskets which are susceptible to external shocks and mineral depletion. Thus, economic diversification is a development path that can propel SSA economies to develop broad export baskets that are not highly dependent on natural resources, in order to mitigate systemic risk that stems from volatile commodity prices and achieve long-term sustainability. The research objectives of this study are twofold. Firstly, it determines the extent of economic diversification of selected SSA economies. Secondly, this study investigates the main determinants of economic diversification. The hypothesis of this study is based on the premise that there is a statistically significant relationship between economic diversification and government quality. Government quality is an important determinant of economic diversification due to its influence on macroeconomic fundamentals, infrastructure development, public goods and services. Furthermore, government formulates national development plans which can create a conducive environment for economic diversification to take place. The main policy recommendations towards achieving economic diversification from a SSA perspective, are encapsulated by the following aspects: structural reform and Group Economics
Effectiveness of branded mobile apps on brand loyalty among Generation Y consumers
(2016) Chalomba, Nakuze
The increasing level of consumer engagement with smartphones and tablets or ipods, and the proliferation of mobile applications in recent years have seen a rapid growth in branded apps. Marketers are creating branded mobile apps as a brand communication channel to attract new customers and potentially increase brand loyalty among current customers. Previous research has measured initial adoption or intention to adopt branded apps rather than continuance adoption. In South Africa, few studies have explored adoption of branded apps among generation Y consumers. To fill this gap, this research aims to determine the effectiveness of branded mobile apps in driving brand loyalty among generation Y consumers. To achieve this goal, the research uses Expectation Confirmation Theory (ECT) to explore the factors influencing satisfaction, continuance adoption of branded apps and brand loyalty. Using a quantitative research approach, a total of 406 valid self-administered questionnaires were collected by survey method, and structural equation modelling was employed in the data analysis. The results indicate that confirmation of expectations–functional value, social value and satisfaction significantly influence brand loyalty. When consumers confirmed expectations of branded apps, it directly led to positive perceptions of value and satisfaction. Consumer satisfaction was a significant driver of behavioural loyalty. Results also suggested that consumer confirmation of expectations and perceptions of value impacted on continuance intention indirectly through satisfaction. Perceived functional value was found to be an important direct booster of consumer’s decisions and behaviour to continue using branded apps, while social value was found to be an inhibitor of continuance intention. The relationship between continuance intention and brand loyalty was insignificant. Continuance intention was simply an intermediate response following satisfaction with prior usage. This study therefore confirmed and extended the (ECT), that satisfaction with a product or service was a prerequisite for establishing continuance intention and brand loyalty among consumers.
Empirical study of the reverse-causality between organisation performance and employee behaviour in the agricultural manufacturing sector of Malawi
(2018) Mvula, Ronnie Timpuza
Many organisations claim that Human Resources are their critical resource. However, what is most critical is not merely the human resources but how the Human Resources are managed. Human Resource Management is achieved through practices that the firm implements; these give the firm sustained competitive advantage. Many studies have found positive and significant relationship between HR management and firm performance. Previous studies have also studied reverse causality investigating whether organisational performance affects HR management policies and found significant positive relationship implying that it is good performing organisations that can afford adopting HRM practices. The purpose of this study was to investigate whether organisational performance motivates how employees behave at work in the reverse causality in the agricultural manufacturing firms in Malawi. To achieve this purpose a survey design was adopted using quantitative research strategy. Data were collected from a probability sample of 77 managers and 308 employees totalling 385 participants. Descriptive and inferential statistics using Structural Equation Modelling (SEM) were used to analyse and test seven hypotheses. The proposed relationships were tested using a number of statistical methods. Adequate reliability was achieved on all measurement scales. Confirmatory factor analysis was conducted on the content and structure of the measured constructs and were confirmed necessary. Reasonable fit was achieved for all the refined measurement models. A Lisrel based SEM was applied to examine whether the model fitted the data obtained from the sample and test the relationships between latent variables. Consistent with previous research; results of SEM revealed that Human Resource Management (HRM) practices are significant correlates of organisational performance. Further results showed positive relationships between business strategy and HRM practices; HRM practices and organisational performance. Significant negative relationship was found between employee attitudes and employee behaviour and employee behaviour and organisational performance.
Enhancing linkages in oil and gas in Qatar
(2018) Al-Showaikh, Jenan
Qatar’s economy is mainly dependent on oil and gas, making it vulnerable to global economic shifts and in need of diversification. Qatar’s state has always depended on Western consultancies, which largely advance a neoliberal agenda and so do not consider the long-term needs of Qatar’s economy. While a small body of academic literature has criticized Qatar’s economic strategy, this research provides an alternative strategy for diversification, recommending building linkages directed towards industrialisation. The study takes into account the needs of Qatar’s economy, focusing on diversification carried out in a stable way that creates employment, as well as other factors. The study finds that Qatar’s local content policies lack transparency, clarity, and monitoring institutions, as well as penalties and incentives to enforce the rules. Thus, there has been limited progress in forming the backward linkages knowledge linkages that would enable Qatar’s economic diversification.
Exploring the determinants of entitlement mentality among Generation Y in two tertiary institutions in Johannesburg, South Africa
(2017) Nkomo, Emmanuel
For the past two years, South Africa has been gripped by a spate of demonstrations by university students demanding free university education. These demonstrations have been violent, and mediation efforts have not succeeded in yielding long-term results. According to the theory of rising expectations, in an economy that is improving and where the people are not oppressed, their expectations often outstrip the pace of actual change (Gale, 2008). When there is a mismatch between what people expect and what they actually get, theory suggests that rising expectations lead to civil unrest as demands for improvement continue to grow. It is the contention of this thesis that the theory of rising expectations is associated with the behaviour of the university students as they make demands for free education, better employment opportunities and more accountability from the government. Also associated with the behaviour of these university students in South Africa is generational cohort theory, which predicts that certain significant national and global events have a long-lasting impact on value systems of individual groups and social orders resulting in the formation of new generational cohorts (Smolla & Sutton, 2002). These individuals then share enduring distinctive sets of values, beliefs, and behaviours (Strauss & Howe, 2000). Furthermore, research suggests that Generation Y are materialistic, which is the value individuals place on possessions (Belk, 1985), have a high entitlement mentality, and their work values are mostly extrinsic. Entitlement has been defined as a “pervasive sense that one deserves more and is entitled to more than others” (Campbell, Bonacci, Shelton, Exline, & Bushman, 2004, p. 31). In the absence of literature that relates to the potential influence of the theory of rising expectations and generational cohort theory on the behaviour of Generation Y in South Africa, this research seeks to: (i) investigate whether Generation Y are indeed materialistic and entitled; (ii) investigate the potential influence of demographic factors on work centrality, work values, materialism, and an entitlement mentality; (iii) investigate the potential influence of work centrality, work values, and materialism on an entitlement mentality; and (iv) investigate the mediating effect of materialism on the relationship between demographic factors, work values, work centrality, and an entitlement mentality in the context of a private college and a public university in South Africa. This research employed a two-stage approach. The first stage, a quantitative study, applied a descriptive approach to validate and justify the research findings that link Generation Y with materialism and entitlement mentality. Entitlement mentality was measured using two dimensions: exploitative and nonexploitative entitlement. Based on a literature review, a model was then developed and tested in the second stage of the study using Structural Equation Modelling. Findings from Stage Two suggested that Generation Y are materialistic and highly entitled, but that their entitlement is non-exploitative. Men were found to be more materialistic than women, but women were found to be more entitled than men. However, both genders were found to have low levels of exploitative entitlement, albeit with men showing slightly higher levels of exploitative entitlement. Gender and age were also significantly associated with materialism and entitlement. However, gender and age were found not to be significantly associated with work centrality. Work centrality was found to be significantly associated with entitlement mentality. Work values, on the other hand, were found not to be significantly associated with entitlement mentality, but were significantly associated with materialism. Materialism was found to be significantly associated with entitlement mentality. On the basis of all of these results, it was concluded that the theory of rising expectations and generational cohort theory might be responsible for the entitlement mentality and materialism, which literature often associates with Generation Y. The results also suggested that for organisations to attract and retain Generation Y employees, managers need to pay attention to extrinsic aspects of the job, such as pay.
Factors influencing the purchase intention of the black middle-class in emerging markets for global brands: the case of fashion brands in South Africa
(2017) Van den Berg, Annekee
With the rise of globalisation, consumers are increasingly faced with having to make purchase decisions between domestic and foreign products or brands. Therefore, it is important to gain a better understanding of what factors influence consumer decisions when considering a local or global product or brand. Although a number of studies have explored similar topics, a lack of research remains regarding a comprehensive theoretical model that provides a holistic view of factors influencing the decision to buy a global product. Therefore, the purpose of this study is to investigate those factors that influence the purchase decisions of global fashion brands among black middle-class women in South Africa. More specifically, by means of a conceptual model, the present study proposes that ethnocentrism, price, brand knowledge (comprising of brand awareness and brand image), self-image, fashion involvement, brand love, attitude, and perceived quality influence consumers’ buying decisions. The findings of this study seek to fill the gap in literature regarding how emerging black middle-class consumers in South Africa make buying decisions with regard to (global) fashion products. An empirical study was undertaken, in which 500 black middle-class females were asked to complete an online survey to determine which factors influence their choice of global fashion clothing. The obtained data was analysed by means of Structural Equation Modelling (SEM) using Partial Least Squares. The findings support all proposed hypotheses, but not all hypotheses were found to be significant. The strongest relationships were found between brand knowledge and perceived quality, brand knowledge and attitude, and self-image and attitude. The weakest relationships were between ethnocentrism and purchase intention, price perception and perceived quality and finally brand love and purchase intention. Furthermore, the findings revealed that quality is the main reason for consumers to consider buying global fashion-branded clothing. On the other hand, price is the biggest drawback of sales of global fashion brands. This study is of significant importance to fashion marketers since it provides adequate insight into how global fashion brands can position themselves and influence consumers’ decisions to buy global fashion products. This study further provides a comprehensive model, adds to knowledge gaps, and provides several managerial implications and directions for future research.
Fostering diversity through South Africa's broad based black economic empowerment act
(2018) Ijasan, Eseigboria Grace Paula
South Africa gained strong recognition all over the world after the fall of apartheid. Alas their quest to depolarizing the economy of the country has not ended. Several transformational initiatives have been set up by the government to accomplish this feat, the latest and most successful, in terms of economic empowerment, is the Broad-Based Back Economic Empowerment (BBBEE) Act. This initiative has however, been criticized by academics and its direct beneficiaries as not fulfilling its underlying purpose which is to smooth the coexistence of its diversified society. The question has been “is this just another initiative that gives the picture-perfect demographic representation in the work environment or is it giving us much more?” A major discourse has been controversies about the Act’s operationality in achieving its aim and its possible contribution in reinforcing discrimination resulting from societal power shift; hence, the backlash effect on beneficiaries and reverse discrimination on the non-PDI’s (previously disadvantaged individuals). It is on the premise of these questions and criticisms that this research strives to evaluate the Broad Based Black Economic Empowerment initiative as a diversity initiative that has gone beyond managing diversity to fostering diversity. It introduced a framework for fostering diversity which was used as a guideline in developing the Fostering Diversity Index questionnaire. Purposive sampling was used, focusing on nine top BEE companies as rated by EmpowerDex. A well-structured questionnaire was developed and distributed within the companies. These companies had their organisational culture assessed, psychological empowerment evaluated and social perceptions of diversity through the implementation of BBBEE evaluated. Findings from this research indicate that the BBBEE Act has a good potential for fostering diversity; however, fostering diversity requires an organisation to have a culture which embraces diversity as well as an adequate level of psychological empowerment. Without both, there will always be the disconnect between a government diversity initiative, such as the BBBEE and the internal state of affairs of the organisation. This study shows the dynamic relationships between organisational culture, social perception of diversity and psychological empowerment within these top-rated BEE companies. Gender was the only factor that predicts workplace diversity. Among the implication to policy, it is recommended that the implementation process of BBBEE be reviewed to attend to the salient issues of diversity.
Green marketing, green corporate governance commitment, and its impact on firm performance : the case of electronic manufacturers in South Africa.
(2017) Atud, Vivian Abit
The purpose of this research was to study the relationship between firm‟s commitment to green, green marketing capability, green relationship learning, green human resource investments and firm performance for electronics manufacturers in South Africa. Despite the increased focus on on green marketing, there has been little focus on research relating corporate commitment to green and how it relates to green marketing capabilities and firm performance. This study fills this research gap by proposing and testing hypotheses relating firm commitment to green, green marketing capability, green relationship learning, green human capital investment and a firm‟s performance. To answer the research questions, primary data for n=212 respondents covering a range in firm size, gender, race, and age for electronics manufacturers in South Africa was used to test the hypothesis relating corporate commitment to green, green marketing capability, and a firm‟sperformance. The structural equation modeling approach was used to test the model fit and hypothesis testing. The software SPSS 24 was used to analyse the descriptive statistics and AMOS 24 was used to test the research model. The results showed that firm commitment to green was a predictor of firm performance and green marketing capability, green relationship learning, and green human capital investments was found to be mediators in the relationship between firm commitment to green and firm performance. Indeed, the hypotheses stated in this study were found to be true. The main contribution of this study is showing how corporate governance commitment to green can enable firm performance (both marketing and financial) through mediating variables of green marketing capability, green relationship learning and green human capital investment. The study further shows that corporate commitment to green influences green corporate social investment positively. Key words: corporate commitment to green, green marketing capability, green relationship learning, green Human Capital Investment, Green CSI, firm performance
The Impact of green marketing practices on competitive advantage and business performance among manufacturing small and medium enterprises (SMEs) in South Africa
(2018) Maziriri, Eugine Tafadzwa
The phenomenon of “green marketing” has developed particular significance in the modern market, emerging in the developing and developed world as an important concept, and is seen as an essential approach to assist with sustainable development. As green marketing becomes an essential tool for sustainable business strategy, companies are applying green marketing practices to achieve competitive advantage and business performance. This thesis sought to determine the impact of green marketing practices on competitive advantage and business performance of SMEs in the manufacturing sector of South Africa. A quantitative research approach was used for this study and the target population for this study was restricted to managers and Heads of Marketing Departments within manufacturing SMEs in the Gauteng province of South Africa. The data analysis was done in SPSS 25 for demographic data analysis and AMOS 25 was used for the structural equation modelling and path modelling. Smart PLS 3 was also utilised to test for the mediating effect of the mediating variable. According to the results of the structural equation modelling analysis, the tested relationships produced satisfactory results consistent with how they were hypothesised. Precisely, it was found out that green packaging, green advertising, and green product innovation had a positive impact on competitive advantage. In addition, it was also found out that green packaging, green advertising; competitive advantage, green product innovation and green process innovation had a positive impact on business performance. Green process innovation emerged to have a negative impact on competitive advantage. Additionally, four more hyphotheses, namely, hypothesis ten, eleven, twelve and thirteen, were also supported as the mediation results indicated that competitive advantage positively and significantly mediates the relationship between green packaging and business performance, green product innovation and business performance and green process innovation and business performance. It was also found that, althougth competitive advantage positively mediated the relationship between green advertising and business performance; it does not significantly mediate the relationship between green advertising and business performance. This research broadens the knowledge base that currently exists in the field of green marketing, competitive advantage and SMEs business performance. Also, this investigation is noteworthy to manufacturing SME proprietors and supervisors since most them endeavour to have a competitive advantage and additionally, to boost profitability as well as the business' interest.
Industrial policy implementation : the case of the bus industry in South Africa
(2018) Khathi, Princess Gugulethu
The South African bus industry has been neglected for a very long time in the main automotive sector support programs such as the Motor Industry Development Programme (MIDP) and the Automotive Production Development Programme (APDP). The need for rehabilitation of the industry has been triggered by the increasing demand for public transport in the country which was not being met by the supply. Industrial policies such as investment incentives, public procurement and local content were introduced to stimulate the development of the industry. The study sought to assess the industrial policy implementation mechanisms of these instruments. The in depth assessment of the implementation processes of the industrial policy targeting the bus industry reveal some weaknesses with regards to the way in which the policy that governs the sector has been implemented. There are important lessons that can be learned by the government for consideration with regards to other designated sectors that are targeted for industrial policy support. The findings suggest a need for a review of the Medium and Heavy Commercial Vehicles - Automotive Investment Scheme (MHCV-AIS), improved monitoring and evaluation of public procurement and localisation policies as well as improved enforcement capability by the respective institutions.
The influence of enterprise architecture maturity on business value: a perspective from the South African financial services environment
(2018) Bachoo, Avsharn
Enterprise Architecture (EA) is viewed as a source of business value and competitiveness due to beneficial outcomes such as reduced system complexity, business-information technology (IT) alignment, and improved system integration. However, challenges exist in understanding the relationship between EA and business value at different maturity levels. This research focused on the connection between the EA maturity of an organisation and the business value associated with it in the South African (SA) financial services environment. This study analysed dominant EA frameworks, maturity models, as well as various explanations of the term business value from literature. The resource-based view of the firm (RBV) was used as the underlying theoretical framework to structure this research, by examining EA as an intangible resource, and maturity as a source of heterogeneity. This study further contributed to the RBV operationalisation debate, by using the Architecture Capability Maturity Model (ACMM) as a supporting theory to operationalise EA from a qualitative perspective. The critical realism philosophy, which states that mechanisms generate events, shaped this research by creating focus on the underlying EA mechanisms that led to business value, as well as insights into the opportunities and challenges organisations experience as they progress to higher levels of maturity. This study built a middle range theory using a qualitative approach. Moreover, characteristics of descriptive, exploratory, and explanatory research were used within this investigation. A case study strategy, comprising of semi structured interviews and artefacts was employed to collect data for this study. The results were subsequently examined using thematic analysis techniques. This study established that within level 1 maturity, minimal EA practices driven by a few staff members were in place. Forms of value such as hardware cost savings, software cost savings, and visualisation were experienced. Most of the business units fell within level 2 maturity, indicating that EA practices were still under development. Forms of value such as increased revenue, improved development time and reduced complexity were attained. Business units within level 3 had simple EA practices in place with clear target states. Process improvements, improved risk management and improved customer service were experienced. Within level 4 maturity, EA was fully integrated into the culture, with EA metrics defined. In addition, forms of value such as improved decision-making, innovation and enhanced customer insights were also experienced. None of the business units were rated within level 5 maturity. This study found that EA was generally implemented at a coarse granularity of refinement across levels 1 and 2 maturities, at a medium granularity within level 3, and a fine granularity within level 4 maturity. Further, this study demonstrated that EA is a source of both tangible and intangible forms of value.
The influence of interpersonal skills of IS leaders on IS employee job satisfaction
(2018) Aboobaker, Yusuf
Information system/technology (IS/T) leaders require varied skills to drive performance and satisfaction of IS/T employees within their departments. One way posited to increase job satisfaction of employees is by changing the characteristics of the workplace about which employees form attitudes. One such set of characteristics on which attitudes are formed is the interpersonal skills of the supervisor themselves. Generally, IS/T leaders have often been criticised as being poor communicators often with stronger technical than social skills. More research into the importance of interpersonal skills among IS/T leaders is needed. But what exactly are the interpersonal skills of supervisors and can they really affect the job satisfaction of others? The purpose of this research was to answer the above question by specifically preparing an inventory of interpersonal skills and draw on past theories to develop and subsequently test a model of the relationship between employee perceptions of their immediate IS/T leader’s interpersonal skills and their job satisfaction. Specifically, the study hypothesised that the interpersonal skills of IS/T supervisors influences the job satisfaction of the IS/T employee supervised in the presence of commonly known predicators of job satisfaction. The study employed a deductive, relational design. Data was collected using a survey methodology and employed a structured questionnaire instrument. The sample consisted of 82 IS/T departmental employees from South African organisations in which a permanent IS/T leader heads up the department. Bivariate analysis was performed, and measures were tested for reliability and validity prior to testing the hypothesised model. The model was tested using regression techniques. Results show that interpersonal skill of IS/T leaders significantly influence job satisfaction of IS/T employees, albeit only the sub elements of peer leadership skills and relationship building skills of supervisor’s influence employee job satisfaction. The combined effect of interpersonal skills over commonly known predicators is not significant, however peer leadership skills is. The originality and contribution of this research to IS/T literature takes the form of contribution by espousing the descriptions of interpersonal skills and furthering the iii understanding of what role perceived interpersonal skills of supervisors can play in creating an effective IS/T department through satisfied employees. The practical implications of the study may influence educators, students and recruiters to respectively understand, teach, learn and test for interpersonal skills. IS/T supervisors may also work on elements of those skills found lacking in their behavioural repertoire.

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