Electronic Theses and Dissertations (Masters/MBA)

Permanent URI for this collectionhttps://hdl.handle.net/10539/37942

Browse

Has files: YesSubject: search.filters.subject.COVID-19

Search Results

Now showing 1 - 8 of 8
  • Thumbnail Image
    Item
    Crypto Connections: Unravelling African Stock Markets and Cryptocurrencies in the COVID-19 Era
    (University of the Witwatersrand, Johannesburg, 2024) Marcus, Howard; Odei-Mensah, Jones
    Since their introduction in 2019, cryptocurrencies have become increasingly popular in the African markets. Cryptocurrencies are seen as disruptive technology based on cryptographical technologies and do not share features related to the real economy. Based on this characteristic, one hypothesises that these assets are a perfect diversification instrument during periods of high volatility, particularly as portfolio managers look for new avenues to manage risk. The main aim of this study was broadly focused on the interdependence and co-movement relationship of cryptocurrencies and African stock markets during periods of severe market stress, such as during the COVID-19 pandemic. This study was mainly concerned with those aspects of connectedness that relate to transmission through financial markets. This study sought to examine the co-movement relationships, determine the extent of integration and establish the direction of spillover by replicating modelling techniques proposed by Diebold and Yilmaz (2009; 2012) and Barunik and Krehlik (2018). These techniques measure connectedness using a spillover index, which follows a variance decomposition approach of a vector autoregressive model. The second technique allows for the estimation of connectedness to variables because of heterogeneous frequency responses to shocks. By studying the connectedness of Bitcoin, Ethereum, Tether, Binance Coin, and XRP and the five largest African stock markets based on market capitalisation (South Africa, Nigeria, Morocco, Egypt, and Kenya), the study observed that the COVID-19 sub-sample period contributed most to connectedness at 31.79% relative to the pre-COVID period at 23.67%. The highest contributors to connectedness in both periods are Bitcoin and Ethereum, with Tether being the lowest. These results indicate that information flow mostly comes from the stock markets rather than cryptocurrencies. Also, from the frequency-domain results, across both periods, the most significant contributor to connectedness is observed in the short-term being frequency 1, accounting for 17,74% and 24.77%, and frequency 2, 4.35% and 5.16% in the pre-COVID and COVID periods respectively, while the medium- term and long-term accounting for relatively more minor proportions. Thus, contagion is highest in the short term given connectedness results, thus leading to lower diversification across the short term; however, diversification benefits are noted across more extended term periods. In addition, in the longer-term period, the change in connectedness is relatively tiny. The findings of this study suggest that cryptocurrencies could be an alternative to diversifying risk in African equities. Diversification is essential for long-term investors and regulators as they build resilience in the financial markets during a crisis. This study informs policymakers and governments on the need to regulate markets to optimise diversification, safe haven, and hedging benefits across varied market conditions
  • Thumbnail Image
    Item
    Business model innovation in South African companies under the changing post-COVID-19 world of work
    (University of the Witwatersrand, Johannesburg, 2021) Hlabathi, Katekani; Mzyece, Mjumo
    Businesses that have survived pandemics and other major global disruptions have demonstrated the importance of continually re-evaluating their business models. Implementing business model innovation has been shown to significantly enhance a business's chances of surviving major global disruptions. This study aims to determine how the application of business model innovation, particularly in South African enterprises, has enabled these businesses to survive and remain profitable in a changing work environment, especially during the COVID-19 pandemic. In this context, business model innovation refers to the creative introduction of new ways of the business providing value to their customers through the products they sell or services they provide. A qualitative study with ten (10) respondents from South African enterprises was conducted to test the proposition that businesses who apply business model innovation in pandemics, such as the COVID-19 pandemic, will survive and become even more profitable. The study was conducted in several enterprises from different industries, using interviews and questionnaires. The study aims to provide a possible framework to be used by businesses during pandemics and to provide a basis for further research on the subject. The study's key findings show that there are both internal and external factors that influence the implementation of an innovative business model. COVID-19 was rated highly as an influence that is top of mind, affecting how firms conducted their businesses today. The study also revealed that customers and stakeholders are key to developing an innovative business model. The limitations of the study relate to the number of respondents and their location. This was a direct effect of the qualitative nature of the study and the physical and other restrictions due to COVID-19; thus, the results may not be widely representative or fully replicable. Nevertheless, overall, the study indicates that business model innovation could give businesses the competitive advantage and the differentiation needed to succeed during times of uncertainty.
  • Thumbnail Image
    Item
    Experiences of remote working by South African Lawyers during the COVID-19 lockdown
    (University of the Witwatersrand, Johannesburg, 2023) Modibedi-Manentsa, Dineo; Kriek, Drikus
    Orientation: This study was aimed at understanding South African lawyers’ experiences with remote working during the COVID-19 pandemic. Research purpose: In examining lawyers’ experiences with remote working during the COVID-19 lockdown period, this research considered the internal and external factors that may have affected that experience using the grounded theory approach The study assessed the degree to which the lawyers felt prepared for remote working and whether they felt productive. It also explored factors that may have affected their working experience and considered how these factors affected their mental health and physical well-being. To this end, it looked at internal factors, such as family and children, the nature of their work and their living standards measures, and external factors, such as loadshedding and internet access. Motivation for the study: The researcher did not find any evidence of research regarding the remote working experiences of South African lawyers during the COVID- 19 lockdown. Given that the legal profession functions differently from other professions, the researcher sought to determine the extent to which remote working may have had a negative effect on lawyers’ mental health and physical well-being. Further, the researcher wanted to gauge the need for a mental health intervention, as well as assistance from employers and the government. Research approach/design and method: A qualitative research design was applied through two focus group discussions and individual interviews with 25 South African lawyers. The data was analysed through thematic analysis using ATLAS.ti. 23 (Version 4.11.1-2023-02-23). Main findings: The participants were largely unprepared for remote working during the COVID-19 pandemic and reported varying levels of productivity, intermingled with overworking and burnout. The findings also revealed that certain internal and external factors, such as family and children, the nature of work, their living conditions, loadshedding and internet access, affected their mental health and physical well-being. Practical implications: Working remotely during the COVID-19 lockdown exposed lawyers to a range of experiences, including stress, anxiety, and unproductivity. These experiences point to the need for a mental health intervention by employers and the government. Contribution: The research provided knowledge in the field of study on the remote working experiences of lawyers in South Africa
  • Thumbnail Image
    Item
    The efficacy of the South African COVID-19 pandemic government relief programs for South African SMMEs
    (University of the Witwatersrand, Johannesburg, 2023) Govender, Hammaren
    The study examined the The efficacy of the South African COVID-19 pandemic government relief programs for South African SMMEs. The research objectives of this study are as follows to determine the impact of Covid-19 on SMMEs in South Africa and to identify and investigate the efficacy of the Covid-19 intervention programs for SMMEs that have been introduced by the government and financial institutions in South Africa. The sample of the study was 423 core individuals representing the SMMEs which operate within South Africa. Probability random sampling was used as the sampling technique which was used to invite individuals who are business owners regarded as the SMMEs owners to participate in the study. Survey Monkey was used to sample SMMEs on LinkedIn, Facebook and Twitter. The collected data was evaluated using IBM SPSS version 26 to compute descriptive statistics. The study found out that SMMEs within South Africa were severely impacted by the Covid-19 pandemic. However, some were affected more than others. Moreover, the intervention programs that were identified in this study are: i) financial incentives from government and/or financial institutions, ii) credit extension from government and/or financial institutions, iii) special credit for SMMEs with lower rate from government and/or financial institutions such as the Small Enterprise Finance Agency (SEFA) funded loans, iv) SARS Tax relief measures and v) support from the government and/or financial institutions through business growth/resilience , Spaza support structure, Covid-19 farming disaster provision fund, tourism relief fund or loan guarantee scheme. Nonetheless, the majority of SMMEs in this study indicated that they did not benefit from this intervention at all
  • Thumbnail Image
    Item
    Factors influencing fuel retail site sales in South Africa pre- and post-COVID-19
    (University of the Witwatersrand, Johannesburg, 2022) Kader, Junaid Abdul; Crompton, Rodrick
    The association between the volume of fuel sold at retail sites and predictor variables has been explored in prior research. The COVID-19 pandemic was at its height in South Africa between March 2020 and March 2022 and might have changed these associations due to restrictions on people’s movements and lifestyles during the peak of the pandemic. Understanding changes in the retail fuel industry might help Government, together with the private sector, to ensure adequate fuel supply through efficient utilisation of resources. Therefore, the association between the volume of fuel sold at retail sites and predictor variables in South Africa before and after COVID-19 was explored through this quantitative study using regression analysis and Fisher transformations. It was hypothesised that the volume of fuel sold at retail sites in South Africa was associated with the average income per adult residing within two kilometres of the fuel retail site, adult population residing within two kilometres of the fuel retail site, car ownership by people residing within two kilometres of the fuel retail site, number of competitor sites within two kilometres of the fuel retail site, saturation level, location metric, and site services. In addition, it was hypothesised that the associations did not change between 2020 and 2022. Regression analysis showed that saturation level and site services had a statistically significant association, albeit with a low R-square, with the volume of fuel sold at retail sites, while the other variables did not have a statistically significant association. In addition, Fisher transformations showed that the associations did not change between 2020 and 2022. Perhaps, there was insufficient differentiation between fuel retail competitors in South Africa to influence consumer choice. Fuel could also be regarded as a commodity by consumers and their needs were equally served at any retail site.
  • Thumbnail Image
    Item
    The impact of work from home and hybrid mode on cybersecurity practices in South Africa
    (University of the Witswatersrand, Johannesburg, 2023) Pather, Ravashalin
    As the trend of work-from-home and remote work grows in South Africa, adopting adequate cybersecurity measures and evaluating the human aspect of security perceptions is critical in protecting organisational information and maintaining corporate integrity. Over the past two decades, cybersecurity has been viewed from technological perspective of protecting networks and information assets, this study invokes the behavioural and social concerns, and how this affects an organisation’s cybersecurity strategy in South Africa. Covid-19 and the lockdown rules triggered a national emergency, compelling a considerable proportion of South Africa's workforce to embrace a work-from-home culture. While this study began during the lockdown, leaders at large enterprises in South Africa are adopting a more hybrid way of working permanently, due to the subsequent benefits. This study aimed to evaluate employee behaviour when working environments are suddenly affected by work-from-home policies and how an employee’s behaviour transposes to a different location. The overarching question was: How has cybersecurity behaviour in South Africa manifested during work-from-home policies and what are the determinants that force correct cybersecurity compliant behaviour?. Four key factors (“Subjective Norms & Response Efficacy”, “Attitude & Perceived Vulnerability”, “Self- Efficacy” and “Perceived Severity”) were identified and combined into a new framework based of two theoretical frameworks (The Theory of Planned Behaviour and Protection Motivation theory). This study utilised a quantitative cross-sectional design using a structured closed questionnaire that was distributed electronically. The data collected from 186 participants were analysed using Exploratory factor analysis, correlation analysis and multiple regression. Overall, “Subjective Norms & Response Efficacy” emerged as a significant and most influential predicator of “Cybersecurity Compliant behaviour”. “Attitude & Perceived Vulnerability”, “Self-Efficacy” and “Perceived Severity” were insignificant. It is apparent that there is a positive perception of correct Cyber security practices amongst South African organisations however there is a recommendation for future research, due to the diversity of organisational leadership in both the private and state-owned entities, to provide a better understanding of security compliant behaviour
  • Thumbnail Image
    Item
    E-learning as an innovative platform for medical doctors in South Africa
    (2021) Pillay, Terence
    E-learning could be an innovative continued medical education platform for medical doctors in South Africa, especially now with the COVID-19 pandemic and its effects on physical contact between pharmaceutical companies’ representatives and doctors. This study aimed to determine and develop a more effective way to reach and provide accurate, credible education for all doctors using an e-learning platform as an alternative to representative visits. This research involved a quantitative study, deploying a survey to a sample of 456 doctors in South Africa via an online platform. The results arising from the analyses to prove the three hypotheses were statistically significant, and all were accepted. In summary doctors in South Africa valued their relationships with medical representatives, but simultaneously questioned the credibility of the education received from the representatives. Many doctors accessed the internet for their own education as one of their channels of education. In view of the research findings, an innovative e-learning platform is proposed to deliver continued medical education to all doctors and to allow for best practices sharing across the medical fraternity in South Africa
  • Thumbnail Image
    Item
    Effects of the COVID-19 pandemic on the financial markets: a comparative analysis
    (2021) Kapalu, Njamba
    This paper investigates the effects of the COVID-19 pandemic on bond yields and stock returns. The paper examines how the coronavirus outbreak affected the performance of capital assets as well as what role financial contagion played in the evolution of asset prices over time. This paper employs an event study, a regression analysis, using both Ordinary Least Squares (OLS) and Generalised Method of Moments (GMM) estimations as well as a BEKK GARCH model to test for contagion. The research found that the flight-to-safety phenomenon was more prominent in emerging markets, whereas, in developed markets, bonds were not seen as the safe-haven assets and investors opted to invest in assets such as gold. The second event study showed that investors began reacting in anticipation of the of the Fed announcement in March to slash interest rates, showing herding behaviour rather that market efficiency was driving market behaviour during the pandemic. With regards to the effect of financial contagion being exhibited during the COVID-19 pandemic, the research had different findings for stock returns and bond yields. Using an MVGARCH BEKK model for the estimations, the research found that cross-market effects in the stock returns showed that the USA exhibited high unidirectional linkages with the other markets, thereby confirming significant effect of financial contagion in stock returns during the pandemic. With bond yields, however, no single country was found to be the source of the volatility