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- Volume 13, Issue 3, 2010
South African Journal of Economic and Management Sciences - Volume 13, Issue 3, 2010
Volumes & issues
Volume 13, Issue 3, 2010
Source: South African Journal of Economic and Management Sciences 13, pp 237 –253 (2010)More Less
The study aims to assess the current level of, and relationship between, employee motivation and job involvement among permanent and temporary employees in various departments in a financial institution. This cross-sectional study was undertaken on 145 employees who were drawn by using a simple random sampling technique. Data were collected using the Employee Motivation Questionnaire (Fourie, 1989) and the Job Involvement Questionnaire (Lodahl & Kejner, 1965) and, was analysed using descriptive and inferential statistics. The results indicate that there are significant intercorrelations among the majority of dimensions and sub-dimensions of employee motivation and job involvement. Recommendations are presented to provide practitioners and managers with guidelines for enhancing employee motivation and job involvement respectively.
Source: South African Journal of Economic and Management Sciences 13, pp 254 –271 (2010)More Less
Organisational survival has necessitated both more flexible practices (short-term contracts and outsourcing) and an effective workforce that is able to work continuously under immense pressure. While the former has raised feelings about job insecurity, the latter has resulted in burnout. This study aims to assess levels of job insecurity and burnout among 87 employees in a training and development environment, as well as the relationships between these two key dimensions and the impact of biographical variables. Data collected using the Job Insecurity Questionnaire (JIQ) and the Oldenburg Burnout Inventory (OLBI) reflects a significant relationship between these dimensions. The study provides recommendations for reducing their detrimental individual and organisational consequences.
Source: South African Journal of Economic and Management Sciences 13, pp 272 –292 (2010)More Less
Something must be structurally wrong in a labour market when a well developed economy like that of South Africa is not able to absorb and allocate an accumulating surplus of labour over a period of 20 years or longer but has instead moved to the use of more capital-intensive technology. The objective of this paper is to analyse the role labour conflict plays in the persistence of macro underemployment in South Africa. For the analysis two models identified from the literature were used. In these models labour conflict originates from an over-regulated labour market where labour appropriates capital and bad or hostile labour relations. In both models the switch to technology leads to underemployment. It was found that bad labour relations contribute to the persistence of underemployment in South Africa.
The determinants of the readiness to let go among senior generation owner-managers of small and medium-sized family businessesAuthor Stephan Van der MerweSource: South African Journal of Economic and Management Sciences 13, pp 293 –315 (2010)More Less
The objective of this study was to assess the determinants of the readiness of the senior generation owner-managers to finally transfer the management and control of the family business to the younger generation. Data from 504 questionnaires linked to 81 family businesses were collected and analysed. An Oblimin oblique rotation was carried out on the principal components of the exploratory factor analysis. Five factors with eigen-values greater than one, explaining 62.64 per cent of the variance, were extracted. These five factors describing the theoretical dimensions of the dependent variable were : the senior generation owner-manager's readiness to let go, and the independent variables of retirement planning, perceived suitability of the successor, estate planning, and the perceived liquidity of the business after the transfer. No significant practical differences relating to these five factors could be found between the perceptions of male and female respondents, the senior and younger generation family members or family members involved in medium-sized or small businesses. Practical recommendations are suggested to ensure a smooth final transfer of the management and control of the business to the younger generation family members.
Author Jaco PienaarSource: South African Journal of Economic and Management Sciences 13, pp 316 –328 (2010)More Less
In an international research climate of increasingly demanding ethical review, based on a biomedical model, reflection on best practices in social, behavioural and economic science research is necessary. It is widely believed that these sciences cannot be held to the same practical requirements as biomedical research, although the principles of ethical research are surely universal. This manuscript considers the ethical requirements, principles and guidelines directing research in the social, behavioural and economic sciences, available in the national and international arena. By means of a systematic review of available best practices, it is anticipated that general guidelines for social, behavioural and economic science research could be developed and suggested to researchers in these fields. Specific consideration is given to the unique characteristics of social, behavioural and economic science research.
Source: South African Journal of Economic and Management Sciences 13, pp 329 –344 (2010)More Less
This paper describes a case study that was undertaken to determine whether formal sector personal debt financing might contribute to the funding of South African informal market traders. The case study was conducted at the Natalspruit informal market in Ekhurhuleni, Gauteng. Quantitative questionnaire surveys and a financial diaries project established that market traders in the market have capital requirements large enough to justify the use of formal sector debt financing, can generate sufficient operating profits to pay for formal sector debt financing and would be willing to utilise formal sector debt financing if given the opportunity. However, formal sector debt financing is most relevant to those informal market traders with the skills and motivation to utilise financing effectively and who are willing to inject more formality into their businesses.
Source: South African Journal of Economic and Management Sciences 13, pp 345 –361 (2010)More Less
Traditional parametric Value at Risk (VaR) estimates assume normality in financial returns data. However, it is well known that this distribution, while convenient and simple to implement, underestimates the kurtosis demonstrated in most financial returns. Huisman, Koedijk and Pownall (1998) replace the normal distribution with the Student's t distribution in modelling financial returns for the calculation of VaR. In this paper we extend their approach to the Monte Carlo simulation of VaR on both linear and non-linear instruments with application to the South African equity market. We show, via backtesting, that the t distribution produces superior results to the normal one.
Author Matthew Kofi OcranSource: South African Journal of Economic and Management Sciences 13, pp 362 –375 (2010)More Less
This paper seeks to examine the dynamic causal relations between the two major financial assets, stock prices of the US and South Africa and the rand / US$ exchange rate. The study uses a mixed bag of time series approaches such as cointegration, Granger causality, impulse response functions and forecasting error variance decompositions. The paper identifies a bi-directional causality from the Standard & Poor's 500 stock price index to the rand / US$ exchange rate in the Granger sense. It was also found that the Standard & Poor's stock price index accounts for a significant portion of the variations in the Johannesburg Stock Exchange's All Share index. Thus, while causality in the Granger sense could not be established for the relationship between the price indices of the two stock exchanges it can argued that there is some relationship between them. The results of the study have implications for both business and Government.