South African Journal of Economic and Management Sciences最新文献

{"title":"Entrepreneurial intention: The role of the perceived benefits of digital technology","authors":"E. S. Nkwei, P. Rambe, A. Simba","doi":"10.4102/sajems.v26i1.4936","DOIUrl":"https://doi.org/10.4102/sajems.v26i1.4936","url":null,"abstract":"Background: Existing research recognises that entrepreneurship orientation (EO) is essential for success. However, the mediating role of EO in driving entrepreneurial intention (EI) amongst young adults, especially in the context of the digital revolution, remains largely underexplored.Aim: Accordingly, this study aimed to investigate the mediated effect of risk taking, innovativeness, and proactiveness on EI in an emerging economy.Setting: The sample for this study was drawn from the young adult population in South Africa who understands the concept of entrepreneurship.Method: In the study, a quantitative method to collect the data is used, while structural equation modelling is used to test the extended theory of planned behaviour (TPB).Results: Findings indicate that risk taking mediates the effects of attitude, entrepreneurial capability, and the perceived benefits of digital technology on EI. The results did not support the mediating function of proactiveness and innovativeness. In fact, this result challenges the TPB’s simplistic structure and reveals the prominent role of risk taking in determining TPB predictors.Conclusion: Given the significance of risk taking, governments and entrepreneurship centres are urged to promote risk taking in all their entrepreneurship development programmes.Contribution: Considering the significance of the global digital transformation, this study extends the TPB by incorporating the perceived benefits of digital technology among the predictors of entrepreneurial intent. It also emphasises the role of risk taking in mediating the effects of these predictors on the entrepreneurial intention of young adults in South Africa.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"91 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80181640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Earnings thresholds in South Africa listed enterprises: Manipulating research and developmental expenditures","authors":"Zhenjia Liu","doi":"10.4102/sajems.v26i1.4600","DOIUrl":"https://doi.org/10.4102/sajems.v26i1.4600","url":null,"abstract":"Background: Research and developmental (RD) expenditure directly affects profits. Therefore, managers are likely to manipulate RD expenditure to meet earnings thresholds.Aim: This study investigates whether managers manipulate RD expenditure to meet earnings thresholds, while analysing whether the prospect theory explains this behaviour.Setting: The setting is 62 South African firms listed on the Johannesburg Stock Exchange (JSE) studied from 2011 to 2019.Method: We collected 379 annual samples from the SP Capital IQ database and applied the earnings distribution model to estimate the effect of the prospect theory on earnings management.Results: Most South African listed enterprises have earnings above zero, or have avoided reporting earnings in decline before earnings manipulation. Furthermore, the study’s findings reveal that enterprises that have earnings above zero, or have maintained their earnings in the previous period after manipulation, are risk lovers, whereas enterprises with earnings below zero, or lower than those in the previous period, are risk averters.Conclusion: South African listed enterprises do not have a tendency to manipulate RD expenditures to achieve earnings above zero or avoid reporting declining earnings. The prospect theory also fails to explain their behaviour.Contribution: This study is the first to analyse how the prospect theory explains the behaviour of earnings manipulation by using a sample of South African listed enterprises and thereby fills a research gap.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"80 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80450136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Managerial confidence and capital structure announcement effects on share prices on the Johannesburg Share Exchange","authors":"Lerato Mapela, Chimwemwe Chipeta","doi":"10.4102/sajems.v26i1.4849","DOIUrl":"https://doi.org/10.4102/sajems.v26i1.4849","url":null,"abstract":"Background: In an attempt to enhance our understanding of the important determinants of the debt–equity choice, there is a need to explore the behavioural facets driving the decision to issue either debt or equity. Furthermore, the divergent set of implications of equity and debt issues on the share prices are empirical matters that need to be addressed.Aim: In this article the link is investigated between managerial confidence and the likelihood of issuing debt, as well as the share price implications of equity and debt issue announcements on the Johannesburg Share Exchange (JSE).Setting: The study is based on the equity bond issue announcements of JSE-listed firms for the period 2000–2020.Method: In this article, panel data regression and event study approaches are used in a sample of 81 and 113 bond and equity issue announcements, respectively, for 69 firms listed on the JSE.Results: The main findings of this article indicate that managerial optimism drives debt issuing activities on the JSE and that there are negative and significant abnormal returns associated with the announcement of equity issues.Conclusion: Overall, we conclude that behavioural finance is an important factor driving capital structure decisions, and that signalling, as well as market-timing concerns drive share price reactions on the JSE.Contribution: This article highlights the importance of behavioural factors in capital structure decisions and identifies the firm-specific channels through which managerial optimism drives leverage. Additionally, the article sheds light on the role of signalling and market timing in capital structure decisions.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"12 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80974355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An analysis of South Africa’s guidance on the income tax consequences of crypto assets","authors":"Namhla Vumazonke, Shaun Parsons","doi":"10.4102/sajems.v26i1.4832","DOIUrl":"https://doi.org/10.4102/sajems.v26i1.4832","url":null,"abstract":"Background: A media statement issued by the South African Revenue Service (SARS) in 2018 represents the primary guidance available to South African taxpayers on the income tax consequences of crypto asset transactions.Aim: This study assessed the adequacy of the guidelines available to South African taxpayers on the consequences of crypto asset transactions, and identified the income tax consequences for transactions not addressed in these guidelines.Setting: This study compared the scope and depth of the SARS guidelines to guidance issued in other jurisdictions. This distinguishes it from other studies focusing on the theoretical income tax consequences of crypto asset transactions.Method: The first phase of the study was an in-depth documental analysis to benchmark the SARS guidelines against the guidance of tax authorities in other jurisdictions. In the second phase of the study, a doctrinal legal research methodology was adopted to identify the income tax consequences of transactions not addressed by SARS, applying existing legislation and case law, and taking into account the guidance of the other selected tax authorities.Results: The study found that the SARS guidelines did not comprehensively address all the crypto asset transactions addressed by the other selected tax authorities.Conclusion: The study recommended that SARS provide comprehensive guidance to South African taxpayers on the income tax consequences of crypto asset transactions, the development of which would be supported by consequences identified in this study.Contribution: This study contributes to the understanding of, and development of taxpayer guidance to address the income tax consequences of crypto asset transactions in South Africa.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"126 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73657601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Netnography: An underapplied research method","authors":"K. Viljoen","doi":"10.4102/sajems.v25i1.4891","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4891","url":null,"abstract":"No abstract available.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"309 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73165687","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tax: The Pac-Man of funding received from the crowd","authors":"Annelize Oosthuizen","doi":"10.4102/sajems.v25i1.4703","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4703","url":null,"abstract":"Small businesses often struggle to get funding due to the lack of collateral. Alternative funding, such as crowdfunding, became increasingly popular after the financial crisis in 2008. The objective of the study was to determine if funding, received by businesses from alternative sources of funding, is subject to income tax in South Africa. A legal doctrinal research approach was applied by reviewing available literature, tax legislation and relevant case law in South Africa, the United States of America, United Kingdom and Australia. It was determined that existing income tax provisions do not specifically refer to crowdfunding and principles laid down in decided tax case law need to be considered to determine if the amount received, is a gift made out of pure generosity. The amount is likely not to fall within the ambit of ‘gross income’ of the project owner if the donor expected nothing in return and the funding was not used by the project owner to supplement trading activities. With reward-based crowdfunding, the funding is highly likely to fall within the ambit of gross income since something is expected in return for the funding provided to the business. It is imperative that South Africa issues application guidance to reflect the intended meaning of the legislature regarding the tax treatment of funding received by project owners.Contribution: This article demonstrated that it is imperative that South Africa issues application guidance to reflect the intended meaning of the legislature regarding the tax treatment of funding received by project owners.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"7 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74879620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The (in)ability of consumers to perceive greenwashing and its influence on purchase intent and willingness to pay","authors":"J. Volschenk, C. Gerber, Bruno A. Santos","doi":"10.4102/sajems.v25i1.4553","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4553","url":null,"abstract":"Background: Environmental concerns have led to consumers increasingly being willing to pay a premium for environmentally friendlier products. Unfortunately, this has led to the practice ‘greenwashing’, which yields handsome financial rewards. Consumers are not sufficiently aware of greenwashing, and little is known about the effects of such knowledge.Aim: This article explores how consumers who become aware of greenwashing, respond in terms of purchase intent and willingness to pay.Setting: The population was South African middle- to upper-income consumers. The findings were based on 120 responses.Methods: The study used a 2 × 2 experimental design in which greenwashing knowledge and greenwashing presence were manipulated.Results: We found that consumers reward greenwashing when it is undetected. Educating consumers about environmental issues does not develop their ability to identify greenwashing. In contrast, consumers who are educated about greenwashing and become aware of it, penalise such products through what we term a ‘greenwash penalty’. We define the greenwash penalty as the shift in consumers’ willingness to pay a premium for a product when they become aware of greenwashing. Purchase intent (PI) is also impacted by greenwashing.Conclusion: Companies often try to drive awareness of environmental problems. Our research shows that such initiatives reward all companies that make claims, even when such claims are false. Companies that sell truly green products must educate consumers about the potential harm of misleading information. Once consumers are able to spot greenwashing attempts, companies that sell real green products should then provide true and transparent information about their own products.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"140 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75081153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The ugly truth about social welfare payments and households’ subjective well-being","authors":"Tamanna Adhikar, T. Greyling, Stephanié Rossouw","doi":"10.4102/sajems.v25i1.4646","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4646","url":null,"abstract":"those households in the highest income quintile receiving an SWP who experience a negative effect on well-being. Conclusions: Our study explains the lack of progress in decreasing inequality and lower levels of SWB. Additionally, our findings are of interest to the ongoing broader debates around the effects of SWPs globally on poverty, inequality and SWB. Many checks and balances should be in place to ensure only the most vulnerable access SWPs.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"16 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79253906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Integrated report quality and earnings management – Evidence from South Africa","authors":"Anne-Marie Eloff, Shené Steenkamp","doi":"10.4102/sajems.v25i1.4581","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4581","url":null,"abstract":"approach to reporting. An integrated report is a single interconnected report that has the primary purpose to ‘explain to providers of financial capital how an organisation creates value over time’ (IIRC 2013). It highlights the connectivity of information and focuses on providing information that is relevant and long-1.Following Background: No prescribed standard disclosure requirements for integrated reporting exist. Instead, the International Integrated Reporting Framework is widely adopted, which provides guidelines for integrated reporting to improve the quality of information reported to end-users. These guidelines, however, allow management a degree of freedom in implementing integrated reporting, making the quality of disclosure thereof dependent on management’s approach to reporting. In contrast to the purpose of integrated reporting stands the management of earnings where management can use judgement to manipulate financial reports to mislead end-users. The conflicting theoretical objectives of integrated reporting and earnings management (EM) pose the question of how these two variables relate to one another. Aim: We examine the association between the quality of integrated reports and EM. Setting: Our sample consists of 238 company-years from 2013 to 2017 that were listed as part of the Johannesburg Stock Exchange (JSE) top 100 companies and were ranked on Ernst and Young (EY’s) annual Excellence in Integrated Reporting Awards. The likely association between integrated report quality (IRQ) and EM was identified based on theoretical frameworks, including the stakeholder and agency theories. Method: We perform a robust, one-way cluster regression on our main empirical model, measuring IRQ on rankings, determined by the annual EY Excellence in Integrated Reporting Awards and EM through discretionary accruals. Results: We find a statistically significant negative association between EM, measured as income increasing accruals, and IRQ. Conclusion: Results suggest that companies with income increasing EM activities are less likely to disclose higher quality integrated reports.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"76 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78048541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Policy uncertainty, the economy and business","authors":"Raymond Parsons, W. Krugell","doi":"10.4102/sajems.v25i1.4422","DOIUrl":"https://doi.org/10.4102/sajems.v25i1.4422","url":null,"abstract":"evidence-based and there is a perennial tug of war between the state and market forces, against the backdrop of South Africa’s mixed economy.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"4 2 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80208916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}