School of Economics and Finance

Permanent URI for this communityhttps://wiredspace.wits.ac.za/handle/10539/24973

Browse

Now showing 1 - 20 of 42

Book-to-market ratio and returns on the JSE
(Taylor and Francis, 2006) Auret, CJ; Sinclaire, RA
Many firm-specific attributes or characteristics are understood to be proxies for what Fama and French (1992: p428) refer to as “the unnamed sources of risk”. Perhaps the most notorious of these is the size of the firm or its market value, first documented by Banz (1981). The relationship between size and average returns has become known as the “size effect”.
Managing consumer mythology: The green consumption of E10 fuel
(2014) Chitakunye, P; Saruchera, F; Derera, E; Tarkhar-Lail, A
The purpose of this article is to explore how myths become meaningful to consumers of ethanol-blended petrol (E10) in Zimbabwe. The last decade has seen the emergence and increasing significance of being green. Consequently, green consumption has become a topic of increasing significance amongst consumers and scholars. This study adopted a multiplemethod research strategy, that included 32 key informant in-depth interviews, and 150 questionnaires completed by ordinary consumers. The study unpacks how myths can be used as a symbol of resistance where there is a wide range of product choice. We find that the market acceptance of Zimbabwe’s E10 remained pessimistic, yet elsewhere in the world, the same blend has been packaged as a ‘premium, super brand’. Drawing from the findings, we argue that consumers engage with myths in their everyday lives, and the meanings associated with myths are transferred to the ‘green fuel’ brands. Although the consumption of E10 fuel is important to the maintenance of a green society, it should be understood that there are consumer misconceptions ranging from technical fuel composition, engine compatibility, mixed pricing perceptions and policy-related issues. Revealing how E10 fuel has been a success story in other countries, our study demonstrates how marketing education can be employed to create awareness of the benefits for consuming green fuel. Our findings also reveal how myths slowly die a natural death when product choice becomes limited. These findings contribute to an understanding of how consumer misconceptions about a product or service can impact product image and sales.
Revisiting employee motivation and job satisfaction within the context of an emerging economy: Theoretical representation and developing the model
(2014) Ncube, CM; Samuel, MO
The world’s economic attention is rapidly shifting towards the direction of emerging economies. In order to facilitate and accelerate this process, it is important that designated economic hubs are well positioned in terms of infrastructural and social development. This can only be achieved through an integrated human resource practices that recognises the importance of human beings (employees) as the most important factor for the success or failure of any social or economic project. This imperative therefore places employee motivation and job satisfaction in the forefront. It was against this background that this research was conducted to determine the level at which municipal employees of one of the world-class socio-economic cities in South Africa enjoyed job satisfaction using selected motivational variables. The study adopted a survey research method using quantitative research design. A measuring instrument with a Cronbach alpha coefficient of above 0.70 was developed and used to collect primary data from 300 employees of the municipal council. Main hypotheses were formulated and tested using both regression and correlation statistical analyses. Results show that intrinsic and extrinsic motivational variables impacted significantly on the level at which employees derived job satisfaction. Management can therefore develop a job satisfaction practice around identified motivational variables in order to maximise employee productivity and enhance quality service delivery.
An exploratory study on the marketing strategies adopted by small micro and medium enterprises in Johannesburg Central Business District
(2014) Mapila, K; Chiliya, N; Chiliya, W
Over the years marketing theory development has been limited and small enterprises often have to rely on marketing models used in big businesses. There are a number of marketing strategies that are currently applied by large companies in South Africa which cannot be implemented by small retailers. This is because of the complexity of some of the marketing strategies alluded above are not suited to small retailers because of their limited educational background and resources. Facing the problem of intense competition, SMME entrepreneurs often have to rely on price and other short term strategies to market and sell their products to the ultimate consumer. Entrepreneurs are constantly faced with challenges that restrict their productivity and economic potential. SMMEs face the challenge of marketing their products and services properly to the right markets in order to get returns from their investments. The data for the study was collected by means of interviews. The study used a judgemental sampling. Findings from the study prove that entrepreneurs rely on word of mouth, reducing prices and other low cost promotional strategies for marketing and sale purposes. The findings indicate that it might be useful for SMME’s to change their promotional strategies to suit the South African consumer market to ensure long term profitability
The effectiveness of product placement in music videos: A study on the promotion strategies for brands and products to target the Y generation in Johannesburg
(2014) Omarjee, L; Chiliya, N
Product placements are strategic brand placements within media that are meant to be noticed by the consumer, to further influence purchase intentions. Placements in music videos have grown in recent years however, there is little research on placements in this medium and available research has not measured the influence of product placement on purchase intention. The study addressed the gap where product placement in music videos was under researched. This paper investigated the effectiveness of brands and products placements in music videos in influencing the purchase intentions of the Y generation population living in Johannesburg. A self-administered research questionnaire was used to collect data through a quantitative research method by convenience sampling of 420 randomly chosen respondents, aged between 18-27, obtained from the University of the Witwatersrand and Johannesburg. A six minute music video stimulus was used for respondents to base their opinions about placements. The results indicate reliability of the constructs in the model developed as Cronbach Alphas were greater than 0.6 for the variables. The main findings show the variables individual factors and execution stimulus are significantly related to brand recall, brand recognition and brand choice. In turn, brand recall, brand recognition and brand choice influence the consumer’s purchase intentions. The strongest linear relationship existed between brand choice and purchase intention. Placement strategies are equally effective for consumers in the Y generation of differing genders, income brackers and age groups. The research reveals that music videos are an effective platform to reach the targeted Y generation population and the model adapted for placements in music videos shows the stages of the processing in the consumer’s mind from exposure to placements to the final purchase intention. The findings contribute to the knowledge of strategies marketers should use to promote brands and products to effectively target the South African Y generation.
Customers’ perceptions on ESKOM’s pre-paid billing system and the effects on their satisfaction and trust
(2014) Chinomona, R; Sandada, M
Despite the increasing awareness of the paramount importance of customer satisfaction and trust in the context of large firms, research efforts focused on the investigation of the role of electricity pre-paid system performance on customer satisfaction and trust have largely remained scant, particularly in developing countries of Southern Africa. Therefore, the primary objective of this study is to fill this void. Three research hypotheses are posited and a sample data of 151 collected from ESKOM company’ electricity pre-paid system customer is used to empirically test the hypotheses. The results of this study show that, the performance of the ESKOM prepaid billing system positively influences the customers’ satisfaction and trust in a significant way. Managerial implications of the findings are discussed and limitations and future research directions are indicated.
An assessment of the public attitudes towards the inner City of Johannesburg as a branded destination
(2014) Daya, Nikita JC; Chiliya, N
Cities across the world have shifted their focus to urban development and place marketing strategies. These concepts are increasingly becoming important since the competition between cities have intensified globally in order to obtain investments, attract tourists, provide better living space, and to improve community businesses and overall economies of the city. Johannesburg has made use of various labels to provide a unique and attractive destination brand. The city has undergone significant changes in order to improve and reposition its image. In particular, there has been a focus on the redevelopment and brand image repositioning of the Inner City of Johannesburg. Redevelopment strategies have been outlined and implemented in order to improve the areas within the Inner City of Johannesburg. The primary purpose of this study was to investigate the effects of the current attitudes and perceptions of the public towards the Inner City of Johannesburg. A quantitative approach was used. A convenience sample consisting of 343 individuals within the Inner City of Johannesburg completed the distributed survey instrument. The data analysis consists of multiple linear regression analysis. The results of this study indicate that Government services and social bonding are the key factors the public value when they visit the inner city.
Compliance with labour rights and international labour standards: Implications for workplace productivity and competitiveness
(2014) Samuel, MO
The common perception, particularly among employers of labour is that enforcement or implementation of enhanced labour standards would negatively impact on overhead costs thereby impeding the organisation’s competitive advantage through price mechanisms at both national and global marketplace. The purpose of this paper is to provide an analysis and draw inherent relationships between enforcement of labour standards by organisations and possible implications on workplace productivity and overall organisational efficiency, competitiveness and survival. Theorists of firm’s wage efficiency argue that implementation of enhanced labour standards will most certainly increase overhead costs and push up prices thereby disadvantaging the firm’s ability from competing favourably with other firm’s operating in territories where labour standards are not observed. However, comparative cost-benefit analysis of implementing labour standards by this paper suggests that organisations indeed benefit significantly by enforcing labour standards as this would translate to higher productivity and enhanced organisational competitiveness and survival as workers experience job satisfaction, safe and healthy working conditions and environment which reduces rate of industrial accidents, medical costs and sick leaves. Furthermore, employers benefit from implementing enhanced labour standards through low employee turnover rate and improved cooperation and understanding between workers and their employers resulting in a stable and positive labour relations environment that is devoid of unplanned work stoppages due to industrial actions and loss of production.
A Segmentation of Mall Shopping Motivations in the South African Gauteng Provincial Context
(2014) Jogee, R; Callaghan, CW
Consumer markets, globally, exhibit increasing diversity. Shopping malls that do not take cognisance of this diversity, along all appropriate dimensions, can lose market share to competitors that do. Despite extensive literature that is based on research done in other countries, absent from the South African literature is a current typology of market segmentation of mall consumers by mall shopping motivations. Using a sample of 224 mall consumers drawn from Gauteng, the economic hub of the country, k-means segmentation was used to test theory that relates different characteristics of consumers and their mall choices. On the basis of this analysis, a typology of shopping mall consumers is developed according to their preferences, or motivations, for mall shopping. Six different segments were found to be associated with different mall shopping preferences and other characteristics. These segments were classified as ‘Low Engagement Shoppers’; ‘Mean Oriented Shoppers’; ‘Brand Oriented Shoppers’; ‘Utilitarian Oriented Shoppers’ and ‘Ascetic Oriented Shoppers’. It is argued that knowledge of such typologies may be important in the South African context due to the increasing societal diversity that malls need to be able to take advantage of in an increasingly competitive environment.
Organisational support and its influence on teachers job satisfaction and job performance in Limpopo province of South Africa
(2014) Chinomona, R
The importance of organisational support is increasingly being recognized because of its potential positive influence on employee performance. However, studies that seek to investigate the influence of organisational support on the teachers’ job satisfaction and consequently their workplace performance at high school level have largely remained scant, particularly in developing countries of Southern Africa. Therefore, the primary objective of this study is to fill this void. Three research hypotheses are posited and a sample data of 162 collected from the Limpopo Province of South Africa is used to empirically test the hypotheses. The results of this study show that, organisational support positively influences teachers’job satisfaction and their job performance. Managerial implications of the findings are discussed and limitations and future research directions are indicated.
Does customer satisfaction lead to customer trust, loyalty and repurchase intention of local store brands? The case of Gauteng Province of South Africa
(2014) Chinomona, R; Dubihlela, D
Notwithstanding the increasing researches on consumer behaviour, there is a dearth of studies that have investigated the influence of customer satisfaction on customer trust, loyalty and repurchase intention in the African retailing context. Therefore, using a data set of 151 from retailers in Gauteng Province of South Africa, this study examines these relationships. All the posited five hypotheses are supported. The results indicate that the relationship between customer satisfaction and their trust, customer satisfaction and their loyalty, customer trust and their loyalty, customer loyalty and their repurchase intention and customer trust and their repurchase intention are positive in a significant way. The research paper discusses both academic and managerial implications of the results and future research directions are suggested.
R&D failure and second generation R&D: New potentialities
(2014) Callaghan, CW
Ample incentives exist for firms to pursue product, service, or process innovations to increase their profitability. In contrast, few incentives exist for firms to pursue innovations that provide social externalities if these are not inherently profitable. This article provides an argument that first generation research and development (R&D), or R&D that does not utilise economies of scale (as second generation R&D does), cannot effectively provide societal innovation that is not incentivised by market forces. An example of an alternative model for global societal problem solving, based on second generation R&D, is offered.
The influence of website content on the purchase of pharmaceutical health products
(2014) Jones, L; Chiliya, N
The purpose of this research was to determine what web content, according to the perception of consumers and their purchase behaviour, are optimal for the healthcare industry and also understand which content factors are more important than others.A quantitative, single cross-sectional approach was undertaken. A convenience technique was used. Data was collected from a sample of 362 University students by means self-administered questionnaires.Regression analyses were conducted as means of data analysis. The study shows that consumers are significantly affected by the different types of content components incorporated into a webpage. Within these content components, consumers view quality information as more valuable as they are informed about products more effectively, relevant to their needs. This then influences the consumers’ information satisfaction. Once the consumer is satisfied with the information provided through the relevant content components, loyalty towards the firm is developed due to the consistent quality of the content thus, resulting in purchase behaviour. This shows that it is important for online health websites to provide relevant and quality information to in assist consumers in making an online purchase.
Mobile banking applications: Consumer behaviour, acceptance and adoption strategies in Johannesburg, South Africa (RSA)
(2014) Balabanoff, GA
There has been a complete disparity in the number of cell phone subscribers when compared to fixed line users in South Africa (referred to as Republic of RSA or RSA). In 2011, results revealed that 29 million South Africans use mobile phones compared to only 5 million using fixed lines (Brown, Cajee, Davies, & Stroebel,2003; Lascaris,2012). It is because of this increased and saturated mobile market that we have seen the extreme growth of mobile applications. This increase is coupled with several benefits that mobile applications bring to the consumer, such as increased functionality, productivity improvements and entertainment (Pranata, Athauda, & Skinner, 2013). Although adoption strategies around internet banking and cell phone banking have been explored in various parts of the world, adoption strategies specifically around mobile banking applications or "mbapps" have not been vastly researched (Jaruwachirathanakul & Fink, 2005). As such, this study focused on examining consumer behaviour and acceptance towards adopting mbapps in Johannesburg RSA, where mbapps are in an emerging phase, but offer potential benefits to both consumers and industry at large. A quantitative research methodology was used for this research. Self-administered quantitative questionnaires were distributed at the University of Witwatersrand as well as to individuals within the Johannesburg area aged between 18 and 60 years. A pilot study of 30 respondents was conducted to ensure validity and reliability of the questionnaire. Following this, the research was then conducted to a sample size of 373 respondents. Due to time constraints, this study made use of convenience sampling. Data collected from the questionnaires was analysed using statistical analysis to investigate the relationship between the variables used in the research model, this being a modified version of the Decomposed Theory of Planned Behaviour model – The decomposed TPB model is successful in predicting and explaining human behaviour across various platforms and breaking outcomes down into specific dimensions. In addition, the decomposed TPB model is most suitable for steering decision makers towards the implementation of innovations. The decomposed TPB model will provide insight into understanding consumers’individual attitudes, subjective norms and perceived behavioural control, which ultimately influences the likelihood of consumers using mbapps. From the findings, it can be concluded that the results of this study support the proposed conceptual model. The findings of this research, which was focused towards, Attitude, Perceived Behavioural Control and Subjective Norms do have a significant relationship on the intention to adopt mbapps. In terms of the hypotheses set and tested, all resulted as postulated. In conclusion to this study the contribution of this research provides the banking industry, marketers and academics with the factors that encourage consumers to adopt mbapps and to utilise the research to exploit the conversion rate of customers towards adopting mbapps. Lastly this study adds value to not only the RSA market but potentially to other developing and developed countries through the recommendations made in chapter 5. Decision makers are advised to take heed of the proposed strategies in maximising the rate of mbapps adoption
Shock advertising: Not so shocking anymore. An investigation among Generation Y
(2014) Urwin, B; Venter, M
In today’s society, marketers are going to extreme measures to attract consumers’ attention in an attempt to break through advertising clutter. A widely used method is shock advertising, however, the effectiveness of this method is questionable. This study aimed to explore the effectiveness of shock advertising on Generation Y consumers in today’s society. Three variables were analyzed, namely, level of shock, norm violation and memory recall, with five different types of shock (impropriety, moral offensiveness, sexual references, disgusting images and religious taboos). The moderating effects of these relationships with gender, religion and personal identity were also explored. By means of a quantitative study, 300 university students were asked to complete questionnaires. The overall findings indicated that shock advertising has become obsolete and that marketers need to implement alternative ways of ‘breaking through the clutter’. This paper provides marketers with a better understanding of the (in)effectiveness of shock advertising and proposes the importance that marketers should alternative methods to capture the attention of consumers.
A selected history of South African inflation perceptions: The question matters
(2014) Rossouw, J; Bosch, A; Padayachee, V
This paper provides a selected historical overview of inflation perception surveys undertaken in South Africa between 2006 and 2010 with a view to assessing the nature of the link between inflation perceptions and inflation expectations in the latest 2012 survey. These surveys are undertaken to assess the perceptions of respondents on the degree in which historic inflation figures reflect perceptions of actual inflation, and to find some link to inflation expectations. All the earlier pilot studies on inflation perceptions and the representative samples undertaken between 2006 and 2010 (in total six pilot studies, three representative samples and one survey among central bank employees) failed to show any link between inflation perceptions and inflation expectations. These findings cast some doubt on the premise that a policy of inflation targeting anchors inflation expectations in the current rate of inflation and therefore in the announced inflation target policy rate. In response to the earlier survey results, the question on inflation perceptions was put in different ways to respondents in the most-recent (2012) inflation perception survey to retest the hypothesis that inflation perceptions and inflation expectations are linked. The findings of this survey are analysed in this paper. These findings show a possible link to inflation expectations, and will be the subject of further research. The conclusion on the assessment of inflation perceptions is that the question matters.
The relationship between SMEs and insurance providers in Nelson Mandela Metropolitan area, South Africa
(2014) Chodokufa, K; Chiliya, N
Media reports on the effects of climate change on Small Medium Enterprises (SMEs) in South Africa has increased over the past decade. The amount of loss in terms of assets and infrastructure suffered by SMEs is disturbing. Yet insurance providers are not eager to insure SMEs and prefer to deal larger organisations. An empirical study of 203 SMEs was done, structured questionnaires were administered to SME owners. Data was analysed and the results illustrated factors such as the reliability of an insurer, staff knowledge and brand name of the insurer have a great impact on the decision made by SMEs to build a relationship with insurance providers. The respondents, who had been approached by an insurance broker and received training, had a business relationship with an insurance provider. This helps to reach the conclusion that any form of interaction between SMEs and insurance providers helps to facilitate a business relationship
Doctoral and Masters Supervision: The potential role of self-efficacy
(2014) Callaghan, CW
This research investigated the potential contribution of self-efficacy and different forms of experience to the numbers of sucessful doctoral and masters degree supervisions of academics. Using a comprehensive purposive sampling procedure, academics at a large South African higher educational institution were sampled; 225 responses were received. Spearman Rho tests of association, Pearson partial correlation analysis, and hierarchical regression analysis were used to test the relationships between different types of self-efficacy, together with different forms of experience, and measures of doctoral and masters degree supervisions. Findings suggest that self-efficacy accounts for variance in doctoral and masters degree supervisions over and above the contribution of years of experience as a researcher, job satisfaction, gender and the number of people reporting to an individual. However, the effect of self-efficacy might only be significant up and until the point that an individual gains sufficient supervisory experience, of one form or the other (doctoral or masters degree supervision). Male academics are found to supervise more doctoral students. Individuals that supervise more doctoral students are found to have significantly higher levels of self-efficacy relating to statistical analysis.
Consensual and entrepreneurial culture: Insights from organisational culture and human resource development policy in Nigerian banks
(2014) Atiku, SO; Chitakunye, P; Fields, Z
This study contributes to an understanding of consensual and entrepreneurial culture in organisations within the context of communicating organisational culture through human resource policy. Given that consensual and entrepreneurial culture has the potential to shape employee attitudes and work behaviours towards the attainment of business efficiency and sustainability, this study examined the relationship between organisational culture and Human Resource (HR) development policy. Two hypotheses were formulated and tested to establish the significance of the relationship between organisational culture and HR development policy. We adopted a quantitative approach, utilising a structured questionnaire (n=305) and other documented evidence. The study used a combination of convenience sampling and simple random sampling techniques to select the respondents. The findings revealed that there is a significant relationship between organisational culture and HR development policy. It was found that consensual culture as a dimension of organisational culture has the greatest influence on HR development policy, and consequently the entrepreneurial mentality and creativity within the organisation. We conclude that there is a strong positive relationship between organisational culture and HR development policy as an antecedent of HR/organisational outcome in the Nigerian banking sector. This paper recommends that consensual and entrepreneurial cultures are crucial for business sustainability in the knowledge-based global economy.
Mobile money as a strategy for financial inclusion in rural communities
(2014) Thulani; Chitakunye, P; Chummun, BZ
This study contributes to a deeper understanding of the usage level of mobile money, and how it has accelerated financial inclusion among the rural communities in an emerging economy such as Zimbabwe. The study employed a mixed methods approach and a concurrent dominant status design where quantitative and qualitative approaches were concurrently used with the quantitative approach having a dominant status. The study was carried out in the Midlands Province and a simple random sampling technique was applied to select the province. Eight districts in the province formed the study population of 262 493 households and a pilot sample size of 37 household was chosen. The study used a survey method to collect data, where a questionnaire and focus group discussions were used as the main data collection instruments. It emerged that the usage of mobile money by the unbanked rural people is very high, especially for sending and receiving remittances. However the saving and loan aspect of mobile money were not very popular. Users were still relying on their traditional methods of savings and borrowing. The implications are that the service providers need to increase their awareness programs targeting this specific market to encourage them to migrate from traditional ways to safe and secure way of saving their meagre income. More so, that their saving patterns will determine their access to loans.