ETD Collection

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Subject: search.filters.subject.Regulation

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Now showing 1 - 9 of 9
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    The relevance of trust and legitimacy for the introduction of credit rating agency regulation in South Africa: an application of modernity theory
    (2014) Rabinowitz, David
    The 2007/2008 financial crisis and the role that credit rating agencies (CRA’s) played leading up to the crisis precipitated the introduction of CRA regulation worldwide. By using Giddens’s (1990. 1991) theory of modernity as a framework, this study explores the rationale for the introduction of CRA regulation in South Africa (the Credit Rating Services Act No. 24 of 2012), with a specific focus on trust and legitimacy. The findings in this study suggest that while the introduction of new regulation is a mechanism used to legitimise the capital system, it often has limitations and unforeseen consequences. This study used detailed interviews with some of South Africa’s leading experts on the credit rating industry to explain the reasoning for South African CRA regulation. Lastly, this thesis adds to the scant body of interpretive (and normative) research on the use of arms-length regulation in modern governance discourse, and it is also the first research to explore CRA regulation in the South African context.
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    The experiences and challenges of women teachers' lives.
    (2015-05-19) Nagan, Selma
    This study explores women teachers’ lives to understand their experiences of teaching in South Africa today. Accountability and a culture of performativity have to come to dominate schooling in South Africa. Since then, teachers have decreased discretion and autonomy over their work. This study examines the claim that educational reforms and initiatives have changed the nature of teachers’ work. This is a qualitative study drawing on autobiographies, journal entries and interviews. This study which was conducted with four women teachers from secondary schools, provides a commentary on their past experiences with the intention of exploring their identity formation, and how it frames the enactment of their personal and professional identities. The study analyses the ways in which women teachers experience the new mode of regulation which has changed the nature of professionalism and teacher identity. It examines the expansion of teachers’ roles and responsibilities and their negotiating a balance between work and family. The findings show that the women teachers bring into schools experiences gleaned from their personal history. A prominent feature in the narratives is the women teachers’ struggle to find a balance between the demands of home and school in the light of the new mode of teacher regulation. This thesis contributes to South African research on women teachers and their negotiation of the relationship between work and home.
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    Managing bank resolution in South Africa
    (2015-03-20) Tettey, Joseph Rydell
    Asymmetric information, agency problems and the moral hazard, in their various manifestations, can be attributed to the collapse of financial systems over the last century. In order to guard against the negative externalities of these dilemmas, regulators in the banking sector have developed capital adequacy requirements, which measure the solvency of Banks. After the global financial crisis, regulators have realised the importance of having appropriate bank resolution regimes, in order to dismantle failing or failed banks before they become a risk to the financial system and economy. This report s analyses how the South African Reserve Bank resolves systematically significant banks.
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    Shared-use of railway infrastructure in South Africa: the case of coal and citrus production in Mpumalanga
    (2015-02-03) Dube, Mishack Siyafunda
    Economic activities such as mining extraction and farming have in the past been supported by railway infrastructure, which continues to provide a cheap transportation option for the movement of freight. This research paper looks at the apparent bias that exists in the shared-use of railway infrastructure in South Africa between coal miners and citrus growers in Mpumalanga. The study is specifically concerned with the regulatory regime governing access and the extent to which it enables or hinders the shared-use of rail infrastructure, which is critical in the movement of freight for different sectors of the economy. The paper uses literature on regulatory practices and a case study of Mpumalanga’s coal miners and citrus growers, to investigate South Africa’s regulatory regime and its role in creating particular biases in the use of rail infrastructure.
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    The evolution of broadband policy and regulation in South Africa
    (2014-03-18) Kekana, Arthur Gladwell
    The liberalization of the telecommunications sector in South Africa has brought about vast improvement in the take-up and use of mobile telephony, however the opposite can be said of broadband penetration. As recently as 2012, there has been some degree of stagnation in fixed telephony and broadband access. This research report explores the evolution of broadband policy and regulation over the past decade, 2003-2012. Several themes from international trends are used, as guidelines of what an integrated, efficient broadband policy should address what governance and policy leadership is necessary for driving broadband policy initiatives across all spheres of government. The study proposes a conceptual framework that informs the analysis in comparing and contrasting the national broadband policy and plans, as well as provincial and local government’s policies and plans against desirable characteristics, such coordinated planning and implementation of broadband across government. The research analyses the current state of the country’s national broadband policy and plans across the three spheres of government. The analysis considers the contextual differences between the trends studied and the local data collected in the formal research phase, for the benefit of identifying the strengths and weaknesses of the South African broadband plans. The conclusion focuses on the incentive structure needed to extend the development of the broadband ecosystem in terms of infrastructure, services, applications and user involvement in the country.
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    Assessment of regulatory quality in electronic communications in South Africa
    (2014-03-18) Silaule, Goodman
    After enactment of the Electronic Communication Act of 2005, there has been increased regulation in the electronic communications sector. The purpose of this study is to investigate how ICASA ensured regulatory quality when formulating regulations. Regulatory quality is an effective way of ensuring that new or amended regulations achieve they intended objectives. Failure to address regulatory quality may result in ineffective and costly regulations that negatively impact the electronic communications sector. This study revealed that there are regulatory quality gaps in the regulatory process followed by ICASA. The study established that there was lack of transparency and consistency in the process followed by ICASA when formulating regulations. The regulatory decisions made by ICASA were not evidence based as no ex-ante regulatory impact assessment was conducted. The regulatory environment within which ICASA operated was not conducive to enabling regulatory quality. The main factors contributing to an unsuitable regulatory environment were identified as prescriptive sector legislation, ineffective institutional arrangements, and ICASAs‘ lack of the capacity and resources.
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    An analysis of electronic signature regulation in South Africa
    (2014-02-27) Chetty, Prialoshni
    This is a study of the effectiveness of e-signature regulation in South Africa. The primary objective is to analyse South Africa’s e-signature regulatory frameworks and approaches in order to produce findings on its current status and its effectiveness. To do this, the research included the development of a conceptual framework that identifies key themes of analysis for effective electronic signature regulation and a research approach that produces findings from qualitative analysis of multiple sources of data. The report specifically considers the effectiveness of the regulation in rendering electronic signatures a legally valid, secure and trustworthy method of concluding electronic transactions as the key tenets of effectiveness. The report concludes that the regulation is ineffective in various aspects including outdated legislative approaches and technical standards as well as various delays and inefficiencies in implementing the regulations which detract from the regulatory intent.
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    A regulatory capture explanation of South Africa's private health insurance legislation
    (2012-01-25) Hutcheson, Hugh-David
    Private healthcare financing in South Africa has undergone several regulatory reforms, the most recent of which saw the enactment of the Medical Schemes Act No. 131 of 1998. The stated reforms, most especially open enrolment and community rating, were touted by the government as necessary to address the undesirable effects of adverse selection. However, it was never questioned whether in fact adverse selection is a feature of the South African medical schemes landscape. Adverse selection is found to be absent. Thus, government’s supposition that adverse selection, as a consequence of the deregulation that took place during the late 1980s and early 1990s, is responsible for the deterioration in medical scheme coverage for the elderly, unhealthy or poor is fallacious. Since the ostensible reason for the current legislation does not stand up to scrutiny, regulatory capture is offered as the plausible alternative explanation for the promulgation of the current legislation governing medical schemes business.
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    Reconceptualising the capital adequacy requirement of short-term insurance companies within the call option framework
    (2011-12-08) Britten, James Howard Christopher
    Conventional wisdom decrees that in order for insurers to provide cover, they require capital. One of the many methods of calculating capital requirements of short-term insurers is the insolvency put option framework. This technique was originally introduced by Merton (1977). The general argument is that bankruptcy occurs when shareholders exercise a valuable put option. Indeed, the corporation was introduced to protect shareholders from, mainly contractual, liabilities of persons who trade with the corporation. The corporation thus introduced the idea of limited liability of shareholders or as is often called the corporate veil. However, if a company defaults on its debt then equity holders have decided to allow an embedded call option to expire unexercised. As a result shareholders will behave as if they in fact hold a call option, which creates a different incentive than that suggested by the insolvency put idea. This study examines the role of capital and the influence of the insolvency put option within a short-term insurer. Specifically, it is argued that capital is not the cornerstone of a short-term insurer. Moreover, using Brownian motion and Itō calculus as well as continuous time financial models a more complete mathematical description of an insurance company is articulated by explicitly taking the embedded equity call option into account.