Faculty of Commerce, Law and Management (ETDs)

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Now showing 1 - 10 of 2004
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    Attitude and acceptance of Artificial Intelligence technologies in the South African financial services. industry
    (University of the Witwatersrand, Johannesburg, 2024) Wotela, Ruth Rumbidzai; Maier, Christoph
    Despite Artificial Intelligence (AI) being topical, the successful adoption of AI technologies within organisations has been slower than expected. Literature and past research highlights the mixed and contradictory views and findings regarding employees’ attitude and acceptance of AI technologies, which challenge the successful implementation and use of AI technologies. Further, research on employees’ attitude and acceptance of AI technologies in emerging market economies, such as South Africa, and specifically within mandatory settings is limited. The purpose of this research was to investigate and determine factors influencing employees’ attitude and acceptance of AI technologies amongst employees within the financial services industry, where the use of AI technologies is mandatory. The Technology Acceptance Model (TAM) and the Technology-Organisation-Environment (TOE) framework were integrated and extended. This quantitative research study used a cross-sectional design. An online survey was distributed to employees within financial services organisations. A total of 410 valid responses were analysed using descriptive statistics, correlation analysis and regression analysis. Textual responses from the open-ended questions were categorised and presented visually in the form of word clouds. The research results indicate that each of the technological, individual, organisational, and environmental factors have a significant positive effect on attitude towards use of AI technologies. Multiple regression and stepwise regression analysis were used to identify the most influential determinants of attitude towards use of AI technologies from all the technological, individual, organisational and environmental factors. The results indicate that employee wellbeing, competitive pressure, perceived usefulness, management support, perceived ease of use, organisational justice and customer pressure are key determinants of attitude towards the use of AI technologies. The attitude-acceptance relationship is confirmed, as attitude towards use of AI technologies positively influences the acceptance of AI technologies. Although employees’ job roles do not moderate the relationship between attitude and acceptance of AI technologies, their experience with using AI technologies does. Based on these findings the ITOE model for implementing AI technologies is developed, and can be used to facilitate the successful implementation and use of AI technologies. The implications of this research, as well as recommendations for organisations and future research are also discussed.
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    Customer behaviour change through gamification: Goal Framing and Temporal Effects
    (University of the Witwatersrand, Johannesburg, 2024) Nortje, Jacqueline; Lee, Gregory
    Gamification is a widely used design strategy deployed across a range of contexts to encourage individuals to participate in key behaviours. Gamification deploys a range of mechanics typically associated with games to leverage underlying behavioural dynamics. A frequently used game mechanic is the use of goal setting, where these goals are either explicit aspects of the game or implicit through other game mechanics. Despite the widespread use, and continuous growth, of gamification there are aspects that are poorly researched or insufficiently grounded in theory. This thesis investigates two such aspects of gamification: the use of goal setting and the use of gamification over extended periods of time. The thesis aims to answer the research question: Does framing impact the success of goal setting in gamification design, and what is the long-term effect of such a gamification design on behaviour change and performance? This thesis consists of four related papers that addresses this question. According to goal setting theory, goals that are specific and challenging, while still being achievable, are more successful at driving positive outcomes compared to easy goals (i.e., where the goal is easily attained with little or no additional effort) or no goals at all. Furthermore, goal setting theory describes four moderators that impact how successful a goal may be, namely, ability, task complexity, goal commitment and feedback. Focusing on ability (measured as self-efficacy) and task complexity (measured as motivation), research typically describes two types of goal framing approaches and when each would be most appropriate. In this context, “framing” refers to how the goal is positioned or worded and on the focus are of the underlying goal. Performance framing is most appropriate when self- efficacy is high, or task complexity is low. Learning framing is most appropriate when task complexity is high, or self-efficacy is low. Despite the distinction between performance framing and learning framing within goal setting, performance framing tends to be the predominant choice in practice, even when there are indications that a learning-framed approach would be more suitable. Furthermore, little research exists on the appropriate framing approach when considering the interaction between the moderators. Paper 1 presents a literature review of goal setting theory and introduces an alternative model for improved goal framing within a gamification design framework that formalises the recommended framing approach based on an individual’s underlying psychological states. The model also introduces a novel hybrid approach to goal framing to accommodate scenarios where an individual has higher levels of self-efficacy with lower levels of motivation, and vice versa. Paper 2 presents a quasi-experimental field experiment that tests the various framing approaches based on an individual’s self-efficacy and motivation at the onset of the experiment. The experimental case site was Vitality Active Rewards, a gamification platform that is part of Discovery Vitality, a wellness program in South Africa. The targeted behaviour in this study is physical activity as measured through the gamification platform. The researcher grouped study participants based on their self-efficacy and motivation using ii latent profile analysis and deployed a difference-in-differences analysis to assess the effects of the framing conditions within each group. Notably, each framing condition was successful at improving physical activity in at least one group and the researcher was able to refine the proposed optimal framing following the results of the field experiment. When considering the broader gamification design framework, despite the prevalence of gamification as a design strategy, little research or documentation of the long-term effects is available. Studies tend to be over shorter periods and there is some scepticism about whether gamification can be used in the long-term or if results are purely due to the novelty of the initial design. Furthermore, gamification design is seldom grounded in theory, leading to a somewhat fragmented view of the field. Paper 3 presents a literature review of gamification design and expands on the model introduced during the goal setting portion of the study to consider various scenarios with the intent of better understanding the effects of time on the efficacy of gamification design. The researcher provides a recommendation for the optimal approach to ensuring that a gamification platform may have longer lasting effects on the targeted behaviour. Finally, Paper 4, presents a mixed methods case study that evaluates the key propositions from the model against the Vitality Active Rewards gamification platform. Vitality Active Rewards has been live since September 2015 and underwent two major updates since its deployment. The platform presents a rich source of secondary data as well as the opportunity to conduct qualitative research in a novel population represented by financial advisors. The research highlights the initial positive effects of gamification on a target variable followed by the inevitable decline over time once the novelty of the intervention wears off. Furthermore, the study investigates the effects of making changes to a gamification platform over time and provides a recommendation for practitioners on how to approach these changes in a way that will ensure the longevity of the platform. The thesis makes several key contributions to both fields of gamification design and goal setting theory. Firstly, it enhances the use of goal setting theory within a gamification context through an alternative framing methodology. Additionally, the thesis delivers theoretical insights, elucidating the long-term impact of gamification on behaviour change and performance. The study provides a methodological contribution to gamification design by presenting an alternative implementation of gamification design strategies to ensure efficacy over time. Furthermore, the research contributes empirically by providing an understanding of the lasting effects of gamification on behaviour change and performance by examining an existing intervention that has been successful over an extensive period.
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    Determinants of business success and failure for South African financial services companies doing business in West Africa
    (University of the Witwatersrand, Johannesburg, 2024) Ncamani, Sibulelo; Horne, Renee
    West Africa has a population of over 300 million people and is viewed as an attractive market by companies from both South Africa and outside the continent (Grant, 2001; Akinboade & Lalthapersad-Pillay, 2009; Luiz & Charalambous, 2009; Kudaisi, 2014; Anyanwu & Yameogo, 2015; Doucoure & Çankaya, 2021; Africa Business, 2023). The West African region is not a uniform region with a common language, currency, culture and business practices. The region is mainly divided into Anglophone and Francophone countries. South African companies have successfully explored many business opportunities in sub-Saharan Africa in general; however, in West Africa particularly, they have encountered challenges and subsequently exited the countries concerned (Chizema, Kleynhans, Bezuidenhout & Mhonyera, 2021; South African Institute of International Affairs, 2005; Wits Business School, 2019). In the financial services industry, both South African banks and insurance companies have a presence in West Africa; however, there are common factors that contribute towards the success and failure of South African financial service firms in that region. This study aimed to provide an in-depth analysis of the factors that enable South African financial services firms to succeed in West Africa. Qualitative research methodology, specifically case study research, was selected for this study with access to various South African financial institutions such as Sanlam, Absa, Hollard and Momentum Metropolitan. The contribution of this study is threefold: Firstly, this study has added to the existing frameworks by developing common factors that are applicable to South African financial services firms specifically, drawing from and expanding the existing theories and frameworks. Theories such as the Internationalisation Process Theory, The Network Theory, Agency Theory, and A Resource-Based View explained the empirical data gathered. The main framework that underpinned the majority of this study is the CAGE Distance Framework, but all the three dominant frameworks, thus PESTEL and the Country Portfolio Analysis, were considered. 7 Secondly, the study developed a framework that will enable South African companies (specifically in the financial services industry) to have an increased success rate when entering and doing business in West Africa. A conceptual framework was developed which South African executives can use when they plan to enter the West African region. Thirdly, from a methodological perspective, this is one of the few studies to date that uses case study methodology to provide insights on factors which cause South African financial services firms to succeed or to fail in West Africa.
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    Effect of Corporate Governance and Institutional Quality on Firm Performance and Economic Growth in Emerging and Developed Markets: A comparative analysis
    (University of the Witwatersrand, Johannesburg, 2024) Natto, Dinah Milembe; Mokoaleli-Mokoteli, Thabang
    Purpose of the study The objective of the current study is to investigate the effects of corporate governance and institutional quality on firm performance and economic growth in emerging and developed markets. These sample countries were selected based on their significant role in their respective economic blocs and based on their unique economic and firm characteristic Research design The impact of corporate governance and institutional quality on firm performance was rigorously evaluated using the Generalized Method of Moments (GMM), while controlling for key variables such as economic growth and other relevant factors. Major findings The study found that corporate governance compliance levels have improved significantly in emerging economies over the study period, with South Africa leading the sample countries. In addition, corporate governance has a significant positive correlation with all firm performance measures in all sample countries. Furthermore, corporate governance has a long-term relationship with ROE and Tobin’s Q in emerging market countries and not in developed countries. However, weak institutions reverse the benefits of a robust corporate governance framework, especially in emerging economies where institutional quality was found to be low. Lastly, the study revealed that over the study period, corporate governance was only found to have a long-term relationship with Tobin’s Qin India. Practical implications Policymakers in emerging and developed markets, the research provides insights into which aspects of corporate governance and institutional quality are most effective in promoting firm performance and economic growth. This can guide the design and implementation of regulations and reforms. Investors can use the findings to assess the risk and potential returns in different markets based on the strength of corporate governance and institutional frameworks. Strong governance and institutions may indicate lower risk and higher stability. Social implication Improved firm performance driven by good governance and strong institutions may lead to better wages and working conditions for employees, reducing income inequality and contributing to social stability. Originality While studies on corporate governance, institutional quality, and their impacts on firm performance and economic growth exist, the originality lies in the comparative analysis between emerging and developed markets. Furthermore, the research integrates the analysis of corporate governance and institutional quality, rather than examining them in isolation.
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    Voluntary and Involuntary Delisting – Implications for Shareholder Wealth on the Johannesburg Stock Exchange
    (University of the Witwatersrand, Johannesburg, 2024) Mekwa, Itumeleng; Alagidede,Imhotep Paul
    The delisting of stocks from major stock exchanges has been a focal point of academic and practitioner research due to its significant implications on market dynamics and investor wealth. Companies may opt to delist voluntarily to pursue private strategies or be involuntarily delisted for failing to meet regulatory requirements. The dichotomy between voluntary and involuntary delisting has generated extensive debate regarding the underlying drivers and the consequent impact on the value of assets traded. Despite a substantial body of literature on this subject, there is a notable scarcity of research focused on a major stock market such as the Johannesburg Stock Exchange (JSE). This thesis aims to fill this gap by examining the wealth effects of delisting events and identifying the determinants of delisting on the JSE. The event study methodology and logistic regression analysis is utilised for the study. The sample comprises 92 companies delisted from the JSE, encompassing voluntary and involuntary delistings. The findings reveal that delisting events generally result in significant negative impacts on shareholder wealth. Contrary to previous studies, voluntary delisting events do not demonstrate significant abnormal returns, suggesting market efficiency. Involuntary delisting events also fail to show significant abnormal returns, which may be attributed to informed investor behaviour. The sector-specific analysis highlights that the Consumer Non-Cyclical and Industrial sectors are particularly adversely affected by voluntary delistings, while the Technology sector experiences negative impacts from involuntary delistings. Regarding delisting determinants, cash flows emerge as a significant factor influencing overall delisting decisions, while growth prospects are particularly relevant for involuntary delistings. The study acknowledges limitations, including a relatively small sample size and the exclusion of specific contextual factors, and suggests avenues for further research. Based on the findings, policy recommendations are proposed to mitigate the negative impacts of delisting. These recommendations aim to benefit individual investors, companies, regulators, and financial advisors. Overall, this thesis contributes to a deeper understanding of the wealth effects of delisting events and the determinants of delisting decisions on the JSE, offering valuable insights for scholars and practitioners in financial markets.
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    Effect of dynamic workforce capabilities on firm level innovation in the South African metals industry
    (University of the Witwatersrand, Johannesburg, 2024) Mabhali, Luyolo Andrew Baxolise; Mzyece, Mjumo
    Increasing employee diversity in gender, age, ethnicity generally has a positive impact on the firm level innovation due to diversification of views and experiences. Employee education is an important factor for innovation since education stimulates the capacity of employees to comprehend, create and process information due to better understating of the theoretical concepts of their trade. On the other hand, employee tenure is associated with experience and employees with a long organisational tenure are more familiar with the processes of the organisation and its strategy. Accumulated work experience, inside and outside the organisation, is also important as experienced employees have developed skills that are relevant and specific to their domain, thereby, tackling problems in a more focused and relevant way. The research outlined in this document proposes to combine attributes such as gender, age and ethnicity into a demographic background factor. The current research investigates the effect of this demographic background factor, together with education qualification and tenure, on firm-level innovation in the South African metals industry. The hypothesis is that these three factors (education qualification, tenure, and demographic background) are dynamic workforce capabilities that influence firm- level innovation in the South African metals industry and warrant consideration in the dynamic capabilities’ literature. The South African metals and engineering sector consists of approximately 10,000 companies that employ over 220,000 blue-collar workers and contributes around 3% of the country’s GDP or R900 billion. It has been facing challenges including production fluctuations and external economic pressures since 2008 but remains a key player in South Africa's industrial landscape. The dynamic capabilities framework is typically applied in environment of rapid change and the organisations in the metal South African metals industry are characterised by legacy machinery and equipment that make up a substantial part of their infrastructure. While the technological changes in other industries are fast-paced, the metals industry is moving at a slower pace. Due to the high numbers of blue- collar workers in this sector, understating the impact of factors such as the three under investigation in this paper could be significant for the industry. iii A positive correlation was found across all three tested factors (education qualification, tenure and demographic attributes) and firm-level innovation. The positive value of the correlation coefficient also showed that a positive change in these three factors results in a positive change in the firm level innovation in the South African metals industry. The conclusions were that dynamic workforce capabilities, which is a combination of education qualification, tenure, and demographic background factors, warrant further consideration to the literature on dynamic capabilities in the context of firm level innovation.
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    Natural Resources, Productive Capabilities and Economic Performance across Sub-Saharan Countries: Economic Complexity and Product Space Perspectives
    (University of the Witwatersrand, Johannesburg, 2024) Kapiamba, Luabeya Franck; Odei-Mensah,Jones
    In the wake of two decades referred to as ‘growth tragedy’, sub-Saharan countries entered a phase of remarkable growth acceleration starting from the mid-1990s. Despite this, sustaining rapid growth proved elusive for many, with only a handful of resource-poor nations maintaining a consistent rapid growth trajectory by the end of 2019. This study delves into the mixed outcomes suggested by empirical research on resource curse theory, critically analysing the literature on the impact of natural resources on growth. Standard empirical growth models used in this literature often overlook the heterogenous nature of economies, particularly the complexity of knowledge and capabilities embedded in countries’ productive structures. This PhD study aims to unravel the hidden growth potential and dynamics of both resource-rich and resource-poor sub-Saharan countries. Building on the capability theory of growth as a foundation, we adopt an evolutionary perspective to economics and use an extended growth regression framework that acknowledges the potential role of natural resources and country’s productive structure in growth modelling. This framework allows for a comprehensive examination of the presence or not of resource curse and other potential capability-based traps to development. Additionally, we rely on non-parametric methods, leveraging complex network theory and machine-learning techniques underpinning the economic complexity and relatedness approaches. Our findings reveal that the main obstacle to sustained growth in sub- Saharan economies is not their dependence on natural resources, but rather the limited incentives to accumulate and develop productive capabilities – “a quiescence trap”. Furthermore, resource-rich countries often possess narrow and less complex endowment of capabilities, which constrains their growth potential and leads to erratic growth patterns. These countries also face challenges in transforming their productive structures and diversifying into high value-added sectors associated with strong productivity dynamism. Our study underscores complex capabilities as a crucial element for sustaining growth in sub-Saharan Africa. It advocates a policy shift from an excessive focus on maintaining ‘sound macro fundamentals’ to prioritizing the nurturing of productive capabilities at the firm, industry, and country levels through targeted industrial and innovation policies.
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    Entrepreneurial orientation and financial performance in the South African construction and materials sector: a focus on bricolage capability and absorptive capacity
    (University of the Witwatersrand, Johannesburg Date of Issue *, 2024) Kanguwe, David Fikile; Urban, Boris
    This thesis investigates the relationship between the entrepreneurial orientation (EO) and the sustainable financial performance of the South African construction and materials sector during the 2008-2019 period. In addition, it respectively investigates the moderating effects of environmental hostility on this relationship. Furthermore, in the context of environmental hostility, it investigates the respective moderating effects of the bricolage capability and the absorptive capacity on the same relationship. Moreover, it respectively investigates the moderating effects of organisational identity on the bricolage capability and absorptive capacity as well as the respective moderating effects of the bricolage capability- organisational identity and absorptive capacity-organisational identity interactions on this relationship. This research used a two-study approach to investigate this relationship and its moderating effects. The primary study collected survey data from 126 randomly selected firms in this sector. The secondary study collected secondary sustainable financial performance data from a purposively selected significant group of publicly listed firms. In both cases, data underwent analysis of variance and hierarchical regression. Post hoc analyses using the Tukey honest significance difference (HSD) test, slope analysis, and effect sizes were also used to complement these techniques. The results of the primary study indicate that the EO-sustainable financial performance relationship of this sector exhibited nonlinear, J-shaped behaviour. Furthermore, consistent with the EO-As-Experimentation perspective, the RBV and contingency theory, the results for the moderating effects do not support the hypotheses but rather indicate that all the moderating effects on this relationship were nonlinear suggesting that different configurations of these interactions, yielded different sustainable financial performance outcomes for different levels of EO. The results of the secondary study affirm those of the primary study. By using the theoretical framework of the resource-based and contingency theories, this thesis advances knowledge about the EO-firm performance relationship in the largely under- researched EO-As-Experimentation perspective by contributing a novel conceptual model. Through this conceptual model, this study contributes a unique managerial orientation to the persisting EO-ambidexterity debate in strategic entrepreneurship as well as to the South African construction and materials literature.
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    Activating Concentrated Curiosity in Problem Construction to enhance Creative Problem Solving
    (University of the Witwatersrand, Johannesburg, 2024) Greenblatt, Jennifer; Lee, Gregory
    As the first stage in the creative problem solving process, problem construction plays a pivotal role in facilitating the creativity of solutions generated. This thesis develops a theory that proposes an approach to optimise two sub-stages of problem construction, namely, the information search and problem framing, and subsequently builds a normative framework based on this theory to provide practical, evidence-based guidelines to improve the effectiveness of creative problem solving in organisations. To date, research into approaches to search for information about the problem has received little attention, and approaches to effectively frame a problem prior to generating solutions are still debated. Furthermore, research findings have not been leveraged to inform an evidence-based normative framework. This thesis comprises four papers. In paper one, the theory is developed based on literature research. In paper two, the theory is tested experimentally by exposing four groups of senior managers in a large financial services company to different experimental conditions and then comparing the creativity of solutions generated using two different approaches to the information search and two different approaches to problem framing. The development of a normative framework in paper three draws on both the theory and experimental findings. In this paper, in-depth interviews are also conducted with problem solvers from various disciplines to test the applicability and relevance of the framework developed to address the information search. The effectiveness of this normative framework is tested in an action research study in paper four, and findings are used to refine the framework and implementation guidelines. This study also serves as a second field test of the theoretical model.
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    The Political Economy of Energy Regulation in the Coal Mining Industry of Emalahleni
    (University of the Witwatersrand, Johannesburg, 2023-06) Selebi, Elton Jimmy; Matshabaphala, Manamela
    This study explores the perspectives on the political economy of energy regulation in the coal mining industry of Emalahleni. It seeks to discuss whether there are adequate steps within the political and economic sphere that regulates the efficient supply of electricity. The goals of this study are to ascertain the extent of regulation and policy formulation in the coal mining business in Emalahleni, South Africa; examine the reasons for decision-makers’ inaction in promoting a sustainable energy transition in Emalahleni, South Africa, and to identify political channels and platforms that can garner public and/or political support to speed the region's transition to sustainable energy. This research draws upon theoretical discussions centred on the following: The Agency Theory, Classical Political Economy, Keynesian Economics, and the Political Theory of Governance. Informed by an interpretivist paradigm, the qualitative research approach will be employed to explore the political economy of energy regulation within the study area. A non-probability sampling approach through the use of judgemental sampling was used to select the research participants, and the research method utilised interviews through the distribution of a questionnaire. A sample size of 20 comprised individuals from mining organisations in Emalahleni, Department of Mineral Resources and Energy Officials, CGS, Petroleum Agency SA, COSATU, and the Department of Trade Industry and Competition. The study noted that the political system has an impact on the energy and coal regulation markets at Emalahleni. It is recommended that an efficient energy resource policy and local governance are required to address the challenges of increased energy demand and pollution in South Africa.