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- Volume 4, Issue 2, 2001
South African Journal of Economic and Management Sciences - Volume 4, Issue 2, 2001
Volumes & issues
Volume 4, Issue 2, 2001
The political economy of capital gains taxation in South Africa: part II: the public choice of capital gains taxation and public policyAuthor Zane A. SpindlerSource: South African Journal of Economic and Management Sciences 4, pp 234 –253 (2001)More Less
Public Finance and Public Choice principles are used to analyze the ideological and practical basis for the proposed introduction of a Capital Gains Tax into the income tax system of South Africa. The paper concludes that this is a flawed tax whose time has passed - especially for countries like South Africa.
Author Carolina KoornhofSource: South African Journal of Economic and Management Sciences 4, pp 254 –262 (2001)More Less
Accounting research is strongly influenced by the research methodology and methods adopted in the natural sciences. As a result many researchers in Accounting have steered away from non-formal or interpretative methods. From a methodological perspective, Accounting research therefore has a narrow base (Tomkins and Groves, 1983). A solution to expanding the research base may be to search for non-formal, naturalistic research methods in disciplines related to Accounting, where they are more established. The purpose of the article is to introduce a research method, employed in Management Information Systems (Mitroff, Betz, Pondy and Sagasti, 1974) that may be of value to postgraduate students and Accounting researchers engaged in non-formal and naturalistic research. It is hoped that the exposure to this and other research models will contribute towards the broadening of the Accounting research base.
Author K. Bothma, L.J. & ThomasSource: South African Journal of Economic and Management Sciences 4, pp 263 –273 (2001)More Less
This study, conducted in Bloemfontein, found wide discrepancies between the prescriptions of the Basic Conditions of Employment Act and the actual working conditions of waiters. In order to make waiters' situation compliant with the law, several changes will have to be made. However, it was also found that not all changes would necessarily benefit the waiters. Policy makers should therefore be cautious in addressing these discrepancies and making a sectoral determination for waiters.
Source: South African Journal of Economic and Management Sciences 4, pp 274 –285 (2001)More Less
Although marketers in South Africa are beginning to realise that the youth market is a segment that cannot be ignored, only a limited number of studies have thus far been conducted to examine the consumer behaviour of children. The relevance of this topic to South African marketers suggests the need for research in this field. The purpose of this article is to report the findings of an exploratory study conducted to determine the role or influence of consumer socialization agents in the buying behaviour of primary school children, 9-11 years of age. A broad overview of the nature and processes of consumer socialization is provided, as well as of research conducted in this field over the past few decades. Some important marketing implications are also suggested.
Author J.U. De VilliersSource: South African Journal of Economic and Management Sciences 4, pp 286 –305 (2001)More Less
This paper presents an algebraic model to study the extent to which inflation distorts Economic Value Added (EVA). The model consists of a theoretical firm in steady state, consisting entirely of projects with the same known internal rate of return. The EVA this firm reports is then calculated, and compared to the true economic profit calculated from the known return of the firm. The model shows that both conventional EVA and EVA based on the current value of assets are distorted by inflation. The distortion in the latter is more systematic, and this could form the basis of an adjusted EVA calculation to provide an estimate actual profitability.
Author K. NgqakaSource: South African Journal of Economic and Management Sciences 4, pp 306 –315 (2001)More Less
This paper sets out to discuss the potential of tourism as a development instrument for underdeveloped economies. This is done by drawing on economic theory as well as evidence from the real world. While it is acknowledged that tourism development is one of the growth options for these countries, it is a policy often pursued against a background of a narrow resource base and serious balance of payments difficulties. However, only by observing sound economic principles can tourism be expected to achieve its economic goals.
Source: South African Journal of Economic and Management Sciences 4, pp 316 –331 (2001)More Less
Data on agriculture are required by decision-makers, including farmers, to solve problems and make business decisions. The needs of decision-makers have changed over time. Since information systems are designed to aid decision makers, their needs should be determined. A mail survey among farmers indicated that they are chiefly interested in information regarding producer prices, prices of field crop inputs and statistics on imports and exports of livestock products. There is also interest in employment data and statistics on economic, institutional and infrastructural matters.
Author M.R. Theron, S.W. & ViljoenSource: South African Journal of Economic and Management Sciences 4, pp 332 –343 (2001)More Less
This paper focuses on management's perception of affirmative action for affirmative change. A questionnaire, developed to measure attitudes towards the implementation of an affirmative action programme, was distributed to managers at all levels of management in a parastatal. Results supply evidence of a negative orientation towards affirmative action amongst younger managers. They hold the view that members of disadvantaged groups are favoured at their expense. Younger managers also perceive older managers not to have the necessary vision and skills to implement an affirmative action programme successfully. It is recommended that line management encourage communication between the different race groups, and develop positive attitudes and expectations towards the employers, the affirmative action programmes and the various jobs available.
Portfolio management practices of investment practitioners active in the long-term insurance industrySource: South African Journal of Economic and Management Sciences 4, pp 344 –358 (2001)More Less
In the long-term insurance industry, sound financial investment decisions depend largely on the portfolio management practices of the investment practitioners concerned. The ability of the investment practitioners to make well-informed decisions, as well as the strategies and policies underlying portfolio management practices, are the main issues of this research. Important correlations amongst various aspects of the financial investment decision making process, as well as their association with the general information pertaining to the long-term insurers (which were disclosed during the empirical study), emerge in the closing section of this paper. The conclusions should be of prime interest to long-term insurers as well as investment practitioners who are working in that industry.
Some recommendations towards reducing electricity consumption in the South African manufacturing sectorAuthor T. Blignaut, J.N. & De WetSource: South African Journal of Economic and Management Sciences 4, pp 359 –379 (2001)More Less
This paper investigates the means of reducing electricity consumption in the South African manufacturing sector. It concludes that neither the price of electricity, nor taxes, subsidies or legislation is likely to bring about the required change. A change in the production structure using relatively more labour and less capital is also unlikely in the immediate future, given the socioeconomic and legislative milieu currently prevailing in South Africa. The only feasible solution that seems likely is a change in technology, which includes the more efficient use of electricity. Given the possible international agreement regarding global climate change commitments and procedures, clean development mechanisms may therefore yet provide the answer.
The learning organisation: a means of facilitating training for change in South African organisationsSource: South African Journal of Economic and Management Sciences 4, pp 380 –397 (2001)More Less
This article considers the nature and role of the learning organisation as a means of implementing change through training in South African organisations. The paper is based on theoretical study and empirical research, including 365 training and organisational development specialists in South Africa. Five null-hypotheses were empirically tested in order to establish relationships between the learning organisation and certain independent variables (classification data and training). Advanced statistical methods, such as analysis of variance and correlation coefficients were used to test these hypotheses. The learning organisation facilitates learning by all its members and has the capacity to adapt and change continuously. If learning is an organisational priority, training programmes should be designed to promote initiatives to change the organisation. Emphasis should be placed on both learning (acquiring knowledge and skills) and doing (practical application).
Author J.H. HallSource: South African Journal of Economic and Management Sciences 4, pp 398 –411 (2001)More Less
In determining the feasibility of projects where capital investments are concerned, various methods are used. The focus of these methods is on return per se, so it is often asked to what extent any of these methods take the risk concept into account. The main objective of this study was to investigate the importance of risk with regard to capital investment projects. Secondly, with the aid of an empirical study, the study tried to establish whether risk is incorporated when South African companies evaluate capital investment projects. The empirical analysis indicated that risk analysis and evaluation in practice are to a large extent neglected by South African companies. It was found that nearly a quarter of companies estimate their annual cash flows using management subjective estimates alone.