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- Volume 2, Issue 2, 2008
Journal of Economic and Financial Sciences - Volume 2, Issue 2, 2008
Volume 2, Issue 2, 2008
Author Gideon ElsSource: Journal of Economic and Financial Sciences 2, pp 113 –114 (2008)More Less
In May 2008, the Faculty of Economic and Financial Sciences at the University of Johannesburg held its second biennial international conference on Value at Sun City in the North-West province. Many of the papers presented in this, the fourth issue of the Journal of Economic and Financial Sciences (JEF), came about from papers presented at this conference. The third international Value Conference will be held in 2010 and further information will be provided in a later issue of JEF.
Author Grant SamkinSource: Journal of Economic and Financial Sciences 2, pp 115 –138 (2008)More Less
This exploratory study investigates the extent to which 82 New Zealand local government authorities report intellectual capital in their annual reports. A disclosure index, constructed with the assistance of a 14-member local government stakeholder panel, was applied to the annual reports as part of a content analysis. Findings indicate that the overall level of intellectual capital disclosure was varied, with the majority of disclosures being narrative in nature. Findings also indicate that despite a significant portion of total annual expenditure being attributed to employees/staff, the level of human capital reporting was low.
Source: Journal of Economic and Financial Sciences 2, pp 139 –158 (2008)More Less
The effects of location on the international competitiveness of South African industries are investigated in this paper. The relationship between location and its competitiveness platform is important during the establishment of new manufacturing plants, as well as in the designing of industrial development policies by government and industry. This article studies the traditional factors that influence location first, followed by the modern factors, especially those emphasised by the so-called New Economic Geography. Then the empirical findings of a survey conducted among South African manufacturers regarding their location and its influence on their industrial competitiveness are reported.
Author Heli HookanaSource: Journal of Economic and Financial Sciences 2, pp 159 –174 (2008)More Less
This study investigates the complex relationships between organisational strategic change, developing accountabilities, and materialised values in the emerging public-service network. The study highlights the importance of bilateral governance, relational forms of behaviour, and the voluntary exchange of information that is based upon shared values and that regulates networked behaviour in a much less overt way than formal attempts at control. In these circumstances accountancy basically serves as an assistant, helping to mediate, shape and construct inter-organisational relations through various socio-economic and discursive power-based mechanisms. The results indicate that for some organisations value-based management may still have elements of value-adding contributions of a more non-financial and social nature despite the veneer of the rhetoric. In combining participation in development work, work in practice, and theoretical analysis, the study carries both theoretical and practical implications.
Source: Journal of Economic and Financial Sciences 2, pp 175 –186 (2008)More Less
The relationship between government revenue and government expenditure is important, given its relevance for policy especially with respect to the budget deficit. The purpose of this paper is to investigate the relationship between government revenue and government expenditure in Namibia. It investigates the causal relationship between government revenue and government expenditure using the Granger causality test through cointegrated vector autoregression (VAR) methods for the period the period 1977 to 2007. The paper tests whether government revenue causes government expenditure or whether the causality runs from government expenditure to government revenue, and if there is bi-directional causality. The results show that there is unidirectional causality from government revenue to government expenditure. This suggests that unsustainable fiscal imbalances can be mitigated by policies that stimulate government revenue.
Source: Journal of Economic and Financial Sciences 2, pp 187 –202 (2008)More Less
In the last decade, empirical research has found strong evidence that value stocks provide higher returns than growth stocks (value premium). Firms with a high ratio of book value of equity to market value of equity are regarded as value stocks; a low ratio identifies growth stocks. Most research is tailored to the market in the United States of America. Only a few studies consider country-specific distinctions. This research analyses the value premium for the South African market and compares its magnitude to the findings for the US market. Moreover, the effects of the introduction of International Financial Reporting Standards (IFRS) for companies listed at the JSE Limited are examined. The adoption of IFRS is used to demonstrate that investors award an accounting premium for voluntary compliance with this new accounting standard.