Faculty of Commerce, Law and Management (ETDs)

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Subject: search.filters.subject.Covid-19 pandemic

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Now showing 1 - 5 of 5
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    Impact of Covid-19 on Economic Indicators of Globalization: Evidence from Emerging and Developing Economies
    (University of the Witwatersrand, Johannesburg, 2023) Ashimosi, Gina Achitsa; Alovokpinhou, Sedjro Aaron
    This study analyzed the impact that the iCOVID-19 pandemic has on two important economic indicators of globalization, namely: bilateral trade flows and Foreign direct investment. This thesis used the trade gravity model, estimated using the Poisson Pseudo Maximum likelihood (PPML), to look at the influence of COVID-19 cases and death counts on bilateral trade. For foreign direct investment, this paper used a panel data analysis to establish the influence of iCOVID-19 cases and death counts have on FDI. The study finds a negative relationship between bilateral trade and iCOVID-19 cases and death counts for both country of origin and destination country. trade agreements, official language, contiguity and GDP have a positive influence on bilateral trade for both trading partners. When estimations are done using foreign direct investment (FDI) as dependent variable, real GDP is positively associated with FDI flows, the exchange rate is positive but to significant, while unemployment is negative but not significant as well. The 2020 dummy variable is negative and significant, thus FDI flows were adversely affected during that year compare to other years. consequently, the study found that the iCOVID-19 pandemic has had a significant impact on the two most important economic indicators of globalization international trade and FDI. some of the recommendations are that there should be a reduction in tariffs among countries to foster bilateral trade and i also diversification of commodities so that a country does not just rely ion one commodity as that would impact them negatively in a pandemic.
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    Digital consumer behaviour and ecommerce trends since the Covid-19 pandemic
    (University of the Witwatersrand, Johannesburg, 2023) Ramugondo, Nozipho; Chalomba, Nakuze
    The advent of the Covid-19 pandemic resulted in many modifications to human behaviours. Most of these changes were visible in how people around the globe began to prioritise different things in their lives, including avoiding human contact. Given the unprecedented uncertainty that arose across most aspects of life, one of the biggest effects of the pandemic was on the global economy; businesses were forced to be agile and invest in digital transformation, while consumers had to adapt to that transformation. This study examines the shopping challenges faced by consumers during the pandemic, as well as the opportunities presented to retailers to employ new strategies to maintain their livelihoods and ultimately enhance user capability in internet shopping. The researcher thus aimed to investigate consumers’ attitudes towards digital adaptation and ecommerce trends during and post the pandemic. Consumers constantly change their attitudes towards shopping, with most changes being driven by technology and e-commerce digital enhancement. This study aimed to address the identified gaps regarding which factors influence consumers to shop online and utilise ecommerce shopping. A quantitative research methodology was used to answer the principal questions of the study, with data being collected through an online distributed survey to gather answers to the research questions. The findings of the study show that consumers spend more time shopping online now than they did prior to the pandemic.
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    A comparative analysis of the impact of Covid-19 and the global financial crisis on capital structure: Evidence from the Johannesburg Stock Exchange
    (University of the Witwatersrand, Johannesburg, 2023) Mjeso, Thandiwe; Chipeta, Chimwemwe
    Since Modigliani and Miller (1958) introduced the modern theory of capital structure, various studies have been conducted on capital structure. This study contributes to the existing capital structure literature by investigating how the Covid-19 pandemic impacted the capital structure of Johannesburg Stock Exchange (JSE) listed non-financial firms and comparing this impact to that of the 2008 global financial crisis. Furthermore, this study seeks to determine the relationship between capital structure and fundamental firm factors (business risk, profitability, firm size, growth, and asset tangibility). To conduct this analysis, the financial data of these firms for the 2005 to 2022 period is extracted from Bloomberg and the Generalized Method of Moments (GMM) model is used to conduct the analysis of this study. The results of this study indicate that Covid-19 did not have a statistically significant impact on the capital structure of the JSE listed non-financial firms whereas, the 2008 global financial crisis had a statistically significant impact. Overall, the results of this study are consistent with the empirical evidence reported by previous studies, and they provide evidence in support of both the trade-off theory and the pecking order theory
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    A case study investigating the effects of an Entrepreneurial Development Programme on the business sustainability of its beneficiaries’ pre- and post-Covid-19
    (University of the Witwatersrand, Johannesburg, 2022) Lobetti, Francesca Maria; Robert, Venter
    Entrepreneurship in South Africa is complex and multi-faceted. This statement refers specifically to the operational aspects that are indicative of both economic growth and development. This case study investigated the impact of one hotel group’s entrepreneurial development programme on the businesses of its beneficiaries in South Africa. The impact was examined across three primary themes, these being: economic success, employment generation capabilities and long-term business sustainability on the existing businesses of entrepreneurs who have successfully completed the programme. The value of this study was to determine if this particular entrepreneurial development programme has proved valuable to the beneficiaries in growing and sustaining their businesses and creating employment opportunities. As the hotel group’s entrepreneurial development programme provides the fundamental business operational knowledge to the beneficiaries, one aim of the study was to identify the effect of the Covid-19 pandemic on the businesses of the beneficiaries and what measures were put in place to ensure that the businesses were resilient and survived. To date and in the English literature, the impact of this programme had not been properly investigated. The study followed a mixed methods approach and research data was collected using both questionnaires and interviews. The study population consisted of 49 beneficiaries from the hotel group’s entrepreneurial development programme actively operating in different business sectors who had completed the programme between 2005 and 2018, allowing the 2018 beneficiaries to develop their businesses for a two-year period post completion of the programme. The questionnaire data was analyzed with measures of central tendency and presented with graphs and tables. Interview data was analyzed through content and thematic analysis and was also presented with the use graphs and tables. The information gathered in the interview process provided a degree of context to the questionnaire data, which also allowed for complementary analysis where conclusions were drawn between the two data types. The findings indicate that post completion of the programme, a majority of the businesses were on track to be sustainable with the possibility of business growth and expansion. However, during the Covid-19 pandemic, the same conclusions cannot be drawn. The entrepreneurial development programme will need to refocus their main goals and objectives to be more aligned with businesses in the post Covid-19 environment. The ramifications of the effects that the virus has had on the economy will continue to be present and businesses may need to adapt their operations to the new ‘normal’. These changes are expanded upon in this study and recommendations for the hotel group’s entrepreneurial development programme are discussed
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    Price gouging as a species of excessive pricing during the covid-19 pandemic and beyond: has the ‘lucky monopolist’s’ luck run out? (and is price regulation on the horizon?)
    (2023) Hartley, Jarryd; Klaaren, Jonathan
    The Covid-19 pandemic saw widespread market disruption causing extreme and sudden price increases in foods and essential goods. This paper provides a critical analysis of the response by South Africa’s competition authorities to the Covid-19 pandemic. First, it discusses excessive pricing as an exploitative abuse. It argues that there is considerable overlap between excessive pricing and price gouging conceptually, which reveals why price gouging has been pursued as a species of excessive pricing. Secondly, it traces the development of market definition in competition law. It argues that while there has been a growing strand of scholarship arguing in favour of an effects-based approach to assess market power and arguing against the necessity of market definition, that market definition is still the superior method of assessing market power and alleged anti-competitive effects, as it considers the full range of relevant factors necessary to establish the boundaries of competition and the degree of substitutability between competing firms and products. Thirdly, it considers the traditional approach to excessive pricing in competition law to contextualise the approach adopted in the Covid-19 cases. It argues that pursuing price gouging as a species of excessive pricing represents a break with traditional excessive pricing as previous excessive pricing concerned traditionally dominant firms, many of whom were beneficiaries of former state support and/or were operating in markets with high barriers to entry. On the other hand, the Covid-19 cases were characterised by many smaller firms with low market shares, new entrants, and once-off market participants being found to be temporarily dominant firms (the so-called ‘Lucky Monopolist’) who were inferred to have market power. Fourthly, it analysed the Covid-19 cases and several consent agreements. This paper argued that the approach adopted in several cases in which the market was not properly defined was incorrect and contrary to traditional South African competition law. It argued that the Consumer Protection Regulations were promulgated too late and forced the competition courts to use traditional excessive pricing provisions to evaluate these cases. Furthermore, assessing these cases under the traditional excessive pricing provisions may influence future excessive pricing cases by diluting legal precedent with less economically and competition law defensibleapproaches. Fifth, this paper evaluated the response of the competition authorities to the Covid-19 pandemic. It found that the interventions of the competition authorities were able to deter price gouging conduct in response to the pandemic and agrees with the remedies and penalties imposed by the authorities as an appropriate response while arguing further that it is inappropriate to impose punitive administrative penalties on firms that are not dominant under traditional abuse of dominance and excessive pricing tests. Finally, this paper argues that price regulation is not the ideal intervention for competition authorities and has proffered possible alternatives such as market monitoring, informal engagement with market participants; and/or a general price gouging or consumer protection law which would automatically activate upon the declaration of a state of disaster or emergency which would obviate the need to use the traditional dominance and excessive pricing provisions of the Act to assess such conduct