Journal of Economic and Financial Sciences最新文献_第2页

Savings and growth nexus in the context of Southern African Customs Union countries 南部非洲关税同盟国家的储蓄与增长关系

Journal of Economic and Financial Sciences Pub Date : 2024-02-14 DOI: 10.4102/jef.v17i1.884

Lavisa Tala, I. Anyikwa, Pierre Le Roux

{"title":"Savings and growth nexus in the context of Southern African Customs Union countries","authors":"Lavisa Tala, I. Anyikwa, Pierre Le Roux","doi":"10.4102/jef.v17i1.884","DOIUrl":"https://doi.org/10.4102/jef.v17i1.884","url":null,"abstract":"Orientation: The primary goal of Southern African Customs Union (SACU) is to promote economic development through regional coordination. Consequently, SACU members have set economic growth targets through various medium- and long-term policies.Research purpose: The article investigates the savings-growth nexus among SACU countries.Motivation for the study: This study is motivated by low economic growth among SACU countries and the gap in the saving-growth literature. Specifically, previous studies assumed linear relationship, thereby ignoring the fact that savings may be related to economic growth in a nonlinear fashion.Research approach/design and method: The study utilised several panel estimation techniques with data over 1990–2021 for the SACU countries.Main findings: Firstly, there is a strong evidence of long run relationship between saving and economic growth in SACU countries. Secondly, domestic saving exhibits a positive and statistically significant effect on economic growth both in the short-and long-term. Thirdly, there is evidence of non-linear relationship between domestic saving and economic growth. Lastly, it is shown that 16% threshold level of domestic savings to gross domestic product (GDP) ratio is consistent with 6% GDP growth target aspired by SACU union.Practical/managerial implications: The findings of this article suggest that domestic saving is a prerequisite for economic growth provided the funds are channelled to productive investments. Consequently, there is a need to design appropriate policies that can help to promote and mobilise savings.Contribution/value-add: This article contributes to the ongoing debate on saving-growth in the context of developing countries. In addition, it addressed the linearity assumption of the previous studies by incorporating nonlinear assumption.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"30 23","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139776949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Journal of Economic and Financial Sciences 经济与金融科学杂志

Journal of Economic and Financial Sciences Pub Date : 2024-01-31 DOI: 10.4102/jef.v17i1.922

I. Botha

引用次数: 0

Relationship between executive remuneration and performance of South African mining companies 南非矿业公司高管薪酬与业绩之间的关系

Journal of Economic and Financial Sciences Pub Date : 2024-01-23 DOI: 10.4102/jef.v17i1.888

Tando O. Siwendu, M. Swanepoel, O. Stumke

{"title":"Relationship between executive remuneration and performance of South African mining companies","authors":"Tando O. Siwendu, M. Swanepoel, O. Stumke","doi":"10.4102/jef.v17i1.888","DOIUrl":"https://doi.org/10.4102/jef.v17i1.888","url":null,"abstract":"Orientation: Managers are supposed to manage companies to maximise shareholders’ wealth. Instead, there are long-standing perceptions that managers are rent extractors who maximise their own wealth, implying a misalignment between executive remuneration and company performance.Research purpose: The purpose of this study was to determine the existence of a relationship between executive remuneration and the financial performance of South African-listed mining companies.Motivation for the study: Executive remuneration significantly increased over the past five decades relative to company financial performance. The mining sector was selected due to its susceptibility to external factors and shocks leading to volatility in the financial performance of mining companies.Research approach/design and method: This study was a quantitative archival study, using data from 2015 to 2021, by applying the hierarchical linear modelling technique at a 95% confidence level and a 5% significance level.Main findings: The study found a weak to strong relationship between executive remuneration and company financial performance. Furthermore, an analysis of executive remuneration revealed an increase in short-term incentive payments and a decrease in the fixed salary as a proportion of chief executive officer remuneration.Practical/managerial implications: Because the study found a strong link between executive remuneration and earnings-based financial performance metrics, governing bodies should ensure that financial performance metrics include cash flow-based financial metrics as company earnings are highly susceptible to management manipulation.Contribution/value-add: This study contributes to the existing literature on executive remuneration and will be useful to researchers, shareholders, boards of directors, remuneration committees and policymakers.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"45 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139603521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Wavelet-Decomposed GARCH approach to estimating currency risk 估算货币风险的小波分解 GARCH 方法

Journal of Economic and Financial Sciences Pub Date : 2024-01-15 DOI: 10.4102/jef.v17i1.831

Thabani Ndlovu, D. Chikobvu

引用次数: 0

Obstacles encountered by tax practitioners 税务工作者遇到的障碍

Journal of Economic and Financial Sciences Pub Date : 2024-01-08 DOI: 10.4102/jef.v17i1.867

Mphagahlele Ndlovu, Daniel P. Schutte

引用次数: 0

Enhancing the criteria for financial assistance to state-owned companies 提高向国有企业提供财政援助的标准

Journal of Economic and Financial Sciences Pub Date : 2023-12-22 DOI: 10.4102/jef.v16i1.881

Precious T. Ngobeni, Leon Barnard, Mosie Constance Molate

{"title":"Enhancing the criteria for financial assistance to state-owned companies","authors":"Precious T. Ngobeni, Leon Barnard, Mosie Constance Molate","doi":"10.4102/jef.v16i1.881","DOIUrl":"https://doi.org/10.4102/jef.v16i1.881","url":null,"abstract":"Orientation: South African state-owned companies (SOCs) have incurred debt with financial guarantees leading to financial bailouts because of failure to repay lenders.Research purpose: The negative financial impact on South Africa’s fiscus resulted to rising public debt mostly attributed to SOCs that remain unsustainable invigorated the exploration of such financial assistance.Motivation for the study: The government might have to continue guaranteeing SOC debt and give financial bailouts given their solvency and liquidity positions because a considerable amount of the public budget is directed towards the financial rescue of SOCs and not the country’s economic development which is a concern for taxpayers.Research approach/design and method: A qualitative research methodology was implemented using interviews for primary data collection and document analysis for secondary data collection.Main findings: The greed-driven decisions that have been implemented led to the loss of billions of rands because of corruption. This makes funding to SOCs inadequate because the allocated budget is not used for its relevant intent and is thus misappropriated.Practical/managerial implications: Financial guarantees and bailouts to SOCs need enhancing because SOCs have distressed debt which has a significant possibility of falling over to the government to intervene with a financial bailout. An enhanced criteria must be implemented to ensure that funding allocated to SOCs will be appropriated for reform.Contribution/value-add: The provision of an enhanced criteria that disburses funding through three phases will allow public finances and resources to be executed in a way that SOCs can benefit the economy.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"48 48","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138946508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Factors affecting the adoption of activity-based costing in a South African state university 影响南非一所国立大学采用活动成本法的因素

Journal of Economic and Financial Sciences Pub Date : 2023-12-20 DOI: 10.4102/jef.v16i1.837

Annah Kudanga, Zwelihle W. Nzuza, L. J. Stainbank

{"title":"Factors affecting the adoption of activity-based costing in a South African state university","authors":"Annah Kudanga, Zwelihle W. Nzuza, L. J. Stainbank","doi":"10.4102/jef.v16i1.837","DOIUrl":"https://doi.org/10.4102/jef.v16i1.837","url":null,"abstract":"Orientation: There is a lack of empirical studies regarding the adoption and implementation of the activity-based costing (ABC) system in South African state universities, despite its advantages.Research purpose: This study reports the perceptions on the factors influencing the adoption of ABC held by finance and academic staff at the Durban University of Technology (DUT), KwaZulu-Natal.Motivation for the study: The lack of empirical studies demanded understanding of those factors that influence the adoption of ABC at state-owned universities in South Africa. Therefore, this study examined the factors influencing the adoption of ABC in a South African state university using the DUT as a case study.Research approach/design and method: The study adopted a mixed research method conducted with 202 staff members: 129 academics, 41 heads of departments and 32 finance staff.Main findings: The positive factors influencing the adoption of ABC included the organisational strategy, information technology, decision usefulness of cost information, contextual orenvironmental factors and the organisational structure. However, the systems adaptability theme was considered a barrier to the adoption of ABC.Practical/managerial implications: The information could inform strategic initiatives related to the adoption and implementation of ABC in the university or similar state-funded universities.Contribution/value-add: The study provided an empirical understanding of the factors that would hinder and assist the adoption and execution of the ABC system.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"47 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138954654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

CFP® professionals’ perceptions of establishing client relationships in a South African context CFP® 专业人员对在南非建立客户关系的看法

Journal of Economic and Financial Sciences Pub Date : 2023-11-30 DOI: 10.4102/jef.v16i1.889

Jasmine E. Kinsman, C. Rootman, Xolile Antoni

{"title":"CFP® professionals’ perceptions of establishing client relationships in a South African context","authors":"Jasmine E. Kinsman, C. Rootman, Xolile Antoni","doi":"10.4102/jef.v16i1.889","DOIUrl":"https://doi.org/10.4102/jef.v16i1.889","url":null,"abstract":"Orientation: A financial planning advice gap exists in South Africa because of the different cultures and their diverse financial needs and goals.Research purpose: To investigate the appropriateness of step one of the six-step financial planning process from a South African perspective, by considering the perspectives of CFP® professionals.Motivation for the study: It is important to investigate how CFP® professionals can apply step one of the financial planning process more appropriately in a South African context, to establish a professional relationship with their clients.Research approach/design and method: An interpretivist research paradigm and qualitative methodology was adopted for this study, with semi-structured interviews.Main findings: Findings revealed that step one of the financial planning process can be applied more appropriately in the South African context if the focus is on the sources of clients, establishing relationships, building trust and by considering the similarity attraction between financial planners and clients.Practical/managerial implications: The study highlights areas that financial planners should focus on to establish professional relationships more appropriately with clients from different cultural backgrounds.Contribution/value-add: The study adds to the body of knowledge in the field of financial planning and provides practical recommendations to the benefit of various industry role players.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139202409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Active ownership reporting among South African asset managers, and why it matters 南非资产管理公司主动报告所有权情况及其原因

Journal of Economic and Financial Sciences Pub Date : 2023-11-30 DOI: 10.4102/jef.v16i1.852

George F. Nel, J. P. Steyn, Anria Van Zyl

{"title":"Active ownership reporting among South African asset managers, and why it matters","authors":"George F. Nel, J. P. Steyn, Anria Van Zyl","doi":"10.4102/jef.v16i1.852","DOIUrl":"https://doi.org/10.4102/jef.v16i1.852","url":null,"abstract":"Orientation: Asset owners should be able to distinguish between asset managers based on their commitment, accountability, and quality of their environmental, social and governance (ESG) screening, and engagement practices.Research purpose: Although there were 48 asset managers in South Africa who were Principles for Responsible Investment (PRI) signatories at the end of 2020, to the best knowledge of the authors this is the first academic study on the nature of active ownership reporting among South African PRI asset manager signatories.Motivation for the study: Asset managers are often accused of greenwashing and reporting practices that are mere ‘box ticking’.Research approach/design and method: The authors investigated the nature and extent of local PRI asset manager signatory active ownership reporting over the period 2016–2020, using content analysis and a self-constructed measurement instrument to ascertain the quality of reporting.Main findings: Vast differences were noted in the depth and breadth of shareholder engagement reporting, and as expected, the size of the asset manager played an important role in the quality of reporting.Practical/managerial implications: South African asset managers who claim to be responsible investors, by virtue of being PRI signatories, should ensure that public reporting accurately reflects their engagement activities and outcomes, given the potential reputational benefits and the increasing importance of ESG issues.Contribution/value add: The research may be valuable to asset managers and owners seeking a competitive advantage within the growing RI sector, by highlighting the importance of clear and transparent disclosure.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139198534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Analysing the impact of COVID-19 on the digital strategies of South African retailers 分析 COVID-19 对南非零售商数字战略的影响

Journal of Economic and Financial Sciences Pub Date : 2023-11-23 DOI: 10.4102/jef.v16i1.864

Faith Shenjere, S. L. Middelberg

{"title":"Analysing the impact of COVID-19 on the digital strategies of South African retailers","authors":"Faith Shenjere, S. L. Middelberg","doi":"10.4102/jef.v16i1.864","DOIUrl":"https://doi.org/10.4102/jef.v16i1.864","url":null,"abstract":"Orientation: COVID-19 pandemic led to a surge in e-commerce with retailers having to embrace digital technologies and develop, implement and/or update digital strategies.Research purpose: This study aims to analyse the impact of the COVID-19 pandemic on the digital strategies of four JSE-listed retailers.Motivation for the study: The e-commerce industry in South Africa is still developing, and retailers need guidance on how to plan better for and manage new customer behaviour introduced by the pandemic.Research design/approach and method: A multiple case study approach was followed to collect qualitative data from the integrated reports of four JSE-listed retailers for the financial year-ends of 2017 until 2021. A newly developed digital strategy hexagon framework was used as the measuring instrument.Main findings: The findings indicate that the retailers with a pre-COVID digital strategy were better positioned to address challenges associated with the pandemic and also displayed the six components of the digital strategy hexagon framework in their integrated reports.Practical/managerial implications: E-commerce businesses could use the framework to design a digital strategy and/or build on their existing digital strategy.Contribution/value add: A novel digital strategy hexagon framework was designed, which could be used by businesses to build or improve their digital strategy.","PeriodicalId":32935,"journal":{"name":"Journal of Economic and Financial Sciences","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139246053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0