Magister Commercii - MCom (Business and Finance)

Permanent URI for this collectionhttps://hdl.handle.net/10566/18634

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Now showing 1 - 9 of 9

Effects of investment style risks on expected returns on the Johannesburg Stock Exchange: A cross-sector analysis
(University of the Western Cape, 2019) Mukoyi, Lenia Sithabiso
Market Segmentation and style investing have become an essential part of security management over the past 40 years. There are many factors that separate the market, these include economy, investor behaviours, and specific anomalies. Apart, from the segmentation, investors lean towards a few tested investment styles and sectors, which hinder growth, while, dividing the market further. Thus, a major question arises on what really drives asset performance in the South African equity market. An evaluation of the relationship between sector performance and style anomalies over time is essential. Howbeit, the topic of market anomalies tends to be controversial because the presence of market anomalies varies from sample to sample, this implies that it is difficult to generalize the effect of market anomalies on stock returns. Additionally, it has been shown that aftermarket anomalies are analysed and documented in academic literature, they often disappear, reverse or weaken. Thus, a study on this topic will give investors a broader view of different methods, which can be used to estimate expected returns, as no one model has been said to be accurate. Moreover, this study examined the relationship that exists between security returns and anomalies. The research further went on to investigate the relationship between style anomalies and security returns using the multifactor asset models. In addition to this, the study scrutinized the consistency of the inter-relationship being investigated before and after the 2008 global financial crisis. The key objective of this study was to examine the effects of market anomalies on the performance of securities on the resources, industrial and financial sectors of the JSE including the applicability of the Fama and French five-factor model.
A comparison analysis of ceo compensation related to shareholders value: south africa versus china holding banks
(University of the Western Cape, 2020) Meng, Danchen
CEO’s compensation, as a global management problem, has been a matter of continuing argument in Western economies, over the last two decades. However, the relationship between CEO compensation and firm performance is still weak, resulting in the CEO overpaid problem being more severe, since the financial turmoil experienced in 2008. The purpose of this study was to investigate whether firm performance justifies CEO remuneration, by comparing South African and Chinese stock-holding banks. The motivation for this study was to understand the correlation between CEO remuneration and the value they added to shareholders. It was anticipated that the results would contribute to exploring whether CEOs were overpaid for what they produced, and help companies to adjust their compensation frameworks. The researcher employed a quantitative approach to ascertain compensation alignment with firm performance. The sample for this current research, from which the data were collected consisted of ten (10) banking institutions (5 South African and 5 Chinese). The findings for the South African banks revealed that the CEO’s remuneration was positively and significantly related to the firm performance; however, the strength of the relationship showed a declining tendency. Additionally, the non-apparent relationship between CEO compensation and firm performance for Chinese banks, indicated the weakness of the pay-performance structure in China. This result may help companies and shareholders to adjust the existing management system, and standardize executives’ responsibilities that would reduce, and avoid many enterprise management loopholes, while improving the development of the nation’s economy, and attracting foreign investors.
Ethical practices of the middle managers in a south african university
(University of the Western Cape, 2019) Fadhl, Abraheem Qassim
Middle managers play an important role in contemporary organisations, particularly in Higher Education Institutions (HEIs). Research on middle managers in a HEI environment suggests that their roles, work practice and identities are under-researched. Middle managers occupy a central position in organisational hierarchies where they are responsible for implementing senior management plans. In HEIs in SA academic middle managers/heads of departments (HODs) face many challenges that are not commonly found in conventional organisations. In this qualitative study the contribution is based on the participants’ experiences in relation to an increasingly diverse workload and responsibilities. Using a fluid conceptualisation of identity and subjectivity, the researcher argues that academic middle managers are engaged in ethical and political practices through demands in the workplace. Drawing on theories on ethics put forward by Foucault, Levinas & Critchley, various aspects of ethics of ‘the self’ and ethics of ‘the other’ in relation to academic middle managers’ identities and practices are discussed. A case study was used with a cross-sectional research design to gather the data on academic middle managers in a single faculty in a South African HEI. Information gathered particularly focussed on the implementation of ethical practices. The findings show that middle managers’ work practices were dependent on their ethical goals and aspirations. This is crucial to achieving success in a HEI.
Post-COVID-19 retail customers' switching behaviour: A Case Study of Cape Town
(University of the Western Cape, 2021) Norman, Maxine Chloe
Shopping patterns of customers in South Africa since the outbreak of COVID-19 has shifted in more ways than one way. For instance, where and when consumers purchase household items. Because of COVID-19, many consumers continue to reassess their shopping preferences and behaviour. This research aims to determine the switching behaviour of consumers in Cape Town concerning the choices of retail outlets for groceries and household items. To date especially given the novelty of COVID-19 and the unprecedented lockdowns, the factors informing consumers' choices and the resultant behaviours remain largely unknown. The research opens the opportunity for further research into the phenomena that the pandemic has revealed. Also, the research adds to the body of knowledge of switching behaviour within the retail industry. The dissertation adopts the Theory of Planned Behaviour as a conceptual framework for the research. To more realistically test the effect of independent variables on the dependent variable (change in a retail outlet), the moderating effects of gender were also investigated. A survey design in which 158 respondents participated in the study was conducted. Quantitative data collection using a questionnaire was employed using Google Forms to comply with social distancing requirements and limit the possible transmission of COVID-19 between researcher and participants and among participants themselves if pen and paper questionnaires were used. Furthermore, several data analalytic tehcniques were used, namely, multiple regression, multinominal regression, factor analysis in addition to basic descriptive statistics and the ANOVA statistical technique.
The development of online shopping behaviour during covid-19, cape town, south africa
(University of the Western Cape, 2022) Tocknell, Beniska
The COVID-19 pandemic brought a change in the business environment across the globe since the start of 2020 which resulted in E-commerce becoming most considered and chosen form of purchasing. This research aim is to bring clarity and knowledge on the impact of COVID-19 on the consumers' buying behaviour and purchasing decisions. Further, on how E-commerce and the related benefits have replaced traditional ways of purchasing. An online questionnaire was conducted on 141 Cape Town consumers, to identify how they have reacted and changed their shopping behaviours and how their shopping preferences have changed since the COVID-19 pandemic. Due to the unforeseen COVID-19 restrictions, businesses faced some challenges moving their operations online. These findings will be able to contribute to the understanding of consumer decisions and will assist companies who are all facing similar situations. Quantitative data collection methods from the 141 survey respondents were analysed using various statistical analytical techniques using SPSS from which conclusions were drawn and discussed. The findings revealed a consumer shift to online platforms and the related benefits associated with the reasoning and acceptance for change, further noting the changes in purchasing decisions of household and luxury goods.
PROGRESSION OF WOMEN INTO SENIOR LEADERSHIP IN THE SOUTH AFRICAN DEPARTMENT OF INTERNATIONAL RELATIONS AND COOPERATION (DIRCO)
(University of the Western, 2022) Kola, Malose James
The post-1994 South African government promulgated legislation focusing on gender equality and the advancement of women in public and private institutions. This study examines the factors influencing women’s career progression within the Department of International Relations and Cooperation (DIRCO), a public sector division of the South African Ministry of International Relations and Cooperation. The qualitative study in the form of a case study which comprised a purposive sample often women occupying senior leadership roles in DIRCO. Data collection used semi-structured interviews through the MS Teams Online platform. The key findings identified institutional, individual, and sociocultural factors that impede women’s career progression into senior leadership roles, although the legislation noted above mediated the same within public organisations. Firstly, institutional factors included the nature of diplomatic work, the masculine organisational culture, and the deployment of political appointees in diplomatic services, which collectively reinforced the glass ceiling phenomena for women. Secondly, individual factors related to work-life balance challenges for women as career advancement involved long office hours, after-hours engagements, and diplomatic postings impacted family life demands. Thirdly, sociocultural factors negatively affecting career progression included stereotypes about the role of women in African society, religious beliefs, implicit and explicit ethnic discrimination, and in some cases, sexual harassment within the dominantly male diplomatic profession. Notwithstanding these barriers and challenges, South African legislation has mandatory provisions for organisations to comply with gender equality, women empowerment, and advancement policies.
An investigation into the problem of debt collection in the Durban area, with the aim of suggesting cost-reducing alternatives
(Univeristy of the Western Cape, 1982) Patel, Madhubala Lila
The purpose of this study is to investigate the problems faced by businesses in the Durban area, in the field of Debt collection, with the aim of suggesting alternatives that would help reduce the cost of collections, as well as lead to the development of a sound system of credit approval. Accounts receivables is an important asset in the books of any organization. In some smaller companies it is often the single largest asset which the firm owns. It is therefore vitally important that top management pay attention to the development of sound business policies and procedures to control this asset and also make certified effort in developing the quality of personnel to head this department. It is hoped that the results of this investigation will point out to management some of the problems facing credit departments, and also provide them with some solutions and areas which need improvement. To achieve the aim of this study it was necessary to ascertain what practices and procedures were being followed by businesses with respect to credit and collections and to evaluate the strength and weaknesses of these procedures.
An investigation into the applicability of a retail audit as a planning and controlling tool for small clothing retailers.
(Univeristy of the Western Cape, 1992) Isaacs, Eslyn Bleighnaul Hugh
"The affluence of a nation may be judged by its ability to produce useful goods and services and to distribute them widely throughout the population." 1 The distribution of goods and services from the producer to the final consumer is handled by one or a combination of the traditional institutions in the distribution system. These traditional institutions are wholesalers, retailers and agents. This study will concentrate on the retailer but with particular reference to the small retailer. A retail business is defined as a business which derives more than 50%2 of its sales income by selling directly to consumers. Wholesalers, however, derive more than 50%3 of their sales income by selling directly to retailers and other wholesalers. The small 1 retailer, because of its location, is in many respects in a better position to satisfy the needs and want s of its target market than its bigger counterparts. Since 1967, there has been a sharp growth in the establishment of small retailers. 4 This could be attributed to the relative perceived ease with which these types of businesses can be started. In South Africa the only legal requirement to start a formal small retail business is a valid business licence. No regulations stipulate that a person should have been trained to manage a retail business. It could be argued, therefore, that this relative ease is also contributing to the unprofessional management of these enterprises, resulting in relatively high small business failures. Statistics show that at least 27,2%5 of small retail businesses in the United States of America fail within the first three years of operation. The probable causes of these failures are the following: 6
Gender differences in the motivations and barriers of entrepreneurs: evidence from a survey in Mitchell's Plain
(University of the Western Cape, 2011) Moses, Denver Barry
The small, medium and micro enterprises (SMMEs) sector within the South African and global context is perceived to have the potential to drive economic growth, and produce positive spinoffs in terms of both poverty alleviation and job creation. In this regard, entrepreneurs are seen as the cornerstones of SMMEs. This is especially true if one keeps in mind that sustainability within this sector depends heavily on the ability to recognise a niche in the market and then being able to convert it into a lucrative business opportunity. It could be argued that the greater the pool of potential entrepreneurs, the greater the prospects for economic growth for the country as a whole. Therefore, critical to economic growth is the lowering of barriers for entry of potential entrepreneurs. In addition, maximising the pool of potential entrepreneurs requires that the opportunity to start and operate a business be equally accessible to both females and males. GlobaJly there is a gender gap that illustrates the existence of more male than female entrepreneurs and many countries, including South Africa, are initiating interventions to narrow that gap. Within this context, this study attempted to disclose the motivations and barriers faced by both females and males when deciding to embark and ultimately remain on the entrepreneurial journey. Additionally, the study sought to establish how female and male entrepreneurs perceived themselves and how they thought others perceived them.

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