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- Volume 1, Issue 1, 1998
South African Journal of Economic and Management Sciences - Volume 1, Issue 1, 1998
Volumes & issues
Volume 1, Issue 1, 1998
Author V. KellikSource: South African Journal of Economic and Management Sciences 1, pp 1 –7 (1998)More Less
The large-scale transition from the system of (real) socialism to that of (mixed) capitalism was launched in central and eastern Europe in 1989, followed by the erstwhile republics of the USSR two years later. These developments also served to open the previously closed book of socialist economics to objective study and research. Much has been written on the subject by economists on both sides of the one-time iron curtain. But what are the impressions of an insider looking out'? It may come as a surprise that he might view the theoretical foundations of the market economy with serious misgivings.
Author W.D. ReekieSource: South African Journal of Economic and Management Sciences 1, pp 8 –35 (1998)More Less
South African competition policy is in a state of flux. While professing to serve so-called national interest, legislation has tended to overlook the principles of economic efficiency and consumer welfare. The South African National Drug policy is a case in point. The best defence against collusion and restrictive practices in business is competition, but the Department of Health favours blanket rules like uniform pricing and a fixed fee-for-service. Thus supermarkets may not employ dispensing pharmacists, and uniform price legislation would make it illegal to negotiate discounts on prescription medicines with retailers. As a rule consumers are the losers. Many fallacies are contained in the debate on the ""right"" competition policy for South Africa. For example, a firm may appear big simply because the domestic market is small.
Author M. GeringSource: South African Journal of Economic and Management Sciences 1, pp 36 –41 (1998)More Less
Counting in the form of statistical data is almost always a good indicator of past and present discrimination; counting as an action plan in the form of a quota is usually not. This article examines the issue of affirmative action from the perspective of an analytical approach developed and published in the context of higher education between 1983 and 1986. It is shown how these ideas are being extended as a proactive tool in the context of changing management projects.
The role of openly communicated motives during the rationalization process of irrigation system buying behaviourAuthor C.A. BisschoffSource: South African Journal of Economic and Management Sciences 1, pp 42 –51 (1998)More Less
The article deals with the identification of the openly stated motives which farmers give to rationalize their buying behaviour in the mechanized irrigation industry. These motives are, in declining order of importance. ""Dealership orientation"", ""Terrain suitability"", ""Maintenance"", ""Management"", ""Mechanical performance"", ""Design"", ""Delivery schedule"", ""Finance"", ""Infrastructure"". ""Technical specifications"" and ""Professional influences"". Openly communicated motives are important to agricultural economists, financial and other advisory institutions since they can render better quality services to farmers if they know what are the reasons overtly given to rationalize other unspoken motives. The farmers can benefit from the results since they would be able to examine their own line of thought, and thus identify the motives of real importance applicable to their situation. Marketers of irrigation systems can also benefit since their selling approach would be more motive-directed.
Source: South African Journal of Economic and Management Sciences 1, pp 52 –72 (1998)More Less
The number of maize farms and extensive beef farms annually declared bankrupt in South Africa rose sharply over the period 1970 to 1994. Principal components regression confirmed a priori expectations that maize farm and extensive beef farm bankruptcies were negatively related to annual rainfall (business risk factor), but positively related to the lagged aggregate farm debt/asset ratio and lagged real interest rates (financial risk factors). Maize farm bankruptcies also increased as lagged real maize and beef producer prices fell (business risk factors). Beef farm bankruptcies rose with lower lagged real beef producer prices and higher lagged real stockfeed subsidies and transport rebates (business risk factors). Part of the rise in maize and extensive beef farm failures between 1970 and 1994 can therefore be ascribed to changed agricultural price and macroeconomic policies.
The portability of American job involvement and job satisfaction scales to non- English speaking South AfricansAuthor C. Boshoff, A.B. & HooleSource: South African Journal of Economic and Management Sciences 1, pp 73 –84 (1998)More Less
The notion of portability of constructs measured by psychometric instruments is introduced. Psychometric investigations by means of Principal Components Analyses, Item Analyses and calculation of Cronbach Alpha on the items of two generally used instruments are described. The results indicate that the constructs measured by the Kanungo Job Involvement Questionnaire and the Minnesota Satisfaction Questionnaire as well as the instruments themselves seem to be robust as far as portability between the Unites States of America and South Africa is concerned.
The portability of American job involvement and job satisfaction scales to non- English speaking South AfricansSource: South African Journal of Economic and Management Sciences 1, pp 85 –107 (1998)More Less
The scales discussed in Boshoff and Hoole (above) were applied to a sample of non-English mother tongue speakers in South Africa to test their ""portability"" between America and South Africa. Where more than one possible structure was obtained, they were compared by means of confirmatory factor analysis. To reduce error variance and improve goodness of fit indices, items were aggregated by taking the mean of random item clusters, and the confirmatory factor analyses repeated. The best fit solution for each of the scales was identified and discussed. Indications are that both the Minnesota Satisfaction Questionnaire and the Kanungo Job Involvement Scale can be used with confidence in South Africa, even on respondents who are not home language English speakers.
Author T.F.J. Viviers, W. & SteynSource: South African Journal of Economic and Management Sciences 1, pp 108 –121 (1998)More Less
The integration of the European Communities (EC, today EU) has been described as one of the most successful examples of economic integration worldwide. This study examines the reason for this success from two perspectives. Firstly, the economic success of EC integration for the period 1945 to 1992 is investigated. It is concluded that, notwithstanding difficulties experienced, the economic integration process represents the EC's greatest achievement. An example of this is the completion of the EC internal market through the European Economic Community (EEC) customs union and the EC-92 programme. Secondly, the investigation focuses on the political success of EC integration. The evaluation shows that political powerplay endangered and inhibited the process of economic integration in the EC.
Author G.F. Stockil, R.C. & OrtmannSource: South African Journal of Economic and Management Sciences 1, pp 122 –144 (1998)More Less
This study analyses farmers' attitudes towards free trade and deregulated domestic product and input markets using a survey conducted in 1996 among 112 commercial farmers in KwaZulu-Natal. Most respondents were in favour of Iiberalised trade and deregulated domestic markets, but expected a decline in product prices, farm profits and land values. Logit analyses of farmers' personal and business characteristics that influence their attitudes towards free trade and deregulated domestic markets were conducted. Results indicate that improved information on risk: management practices and import tariff levels may help commercial farmers to adapt to a changing economic environment and reduce resistance to free trade.
Author C. De VilliersSource: South African Journal of Economic and Management Sciences 1, pp 145 –167 (1998)More Less
The purpose of the article is to establish the willingness of South Africans to support more environmental corporate reporting. A questionnaire was used in the empirical study. The views of three groups were obtained, namely the preparers of financial statements (directors of companies were regarded as such), auditors of financial statements and their users. Seeing that accountability was chosen as the uppermost reason for disclosure in financial statements, the views of users were regarded as most important. However, the views of the other groups may well become more important should environmental legislation or regulation of reporting be considered in future. In analysing the results it was found that there were few cases of significant difference of opinion between the three groups. The preparers, auditors and users of financial statements were generally quite positive about more environmental corporate reporting. They were even in favour of making such disclosure compulsory.
Source: South African Journal of Economic and Management Sciences 1, pp 168 –191 (1998)More Less
Computer-created information is rapidly becoming too great for executives and others to absorb. The quality of information must therefore be enhanced to provide business managers with appropriate information to make efficient decisions. This paper presents the findings of a study to clarify the main and supportive attributes of quality information and the computer tools that support the production of such information. The study presents a framework for the evaluation of the most appropriate computer equipment and applications that would lead to the improvement of information quality in a particular organisation.