Acta Commercii最新文献

{"title":"The association between ownership concentration and payout behaviour: Evidence from South Africa","authors":"R. Nel, N. Wesson, Lee-Ann Steenkamp","doi":"10.4102/ac.v21i1.965","DOIUrl":"https://doi.org/10.4102/ac.v21i1.965","url":null,"abstract":"Orientation: The study investigated the association between ownership concentration and different payout methods of selected companies listed on the Johannesburg Stock Exchange (JSE) in South Africa for the financial reporting periods 2012 to 2019.Research purpose: The research objective was to investigate whether payout behaviour differed when low and high ownership concentration was compared.Motivation for the study: An understanding of the association between ownership concentration and payout policies is an important corporate governance aspect that could reveal the agency conflict between majority and minority shareholders. No previous South African empirical study has considered testing or investigating the two opposing agency-based hypotheses, namely the monitoring and rent extraction hypotheses, with reference to different payout methods.Research design, approach, and method: An empirical research design was followed, which is descriptive in nature. Descriptive statistics and a mixed-model analysis of variance were employed to describe the different payout methods – that is ordinary dividends, special dividends, capital distributions, additional shares, general share repurchases, and specific share repurchases – employed by companies listed on the JSE based on a distinction between low and high ownership concentration.Main findings: High ownership concentration was found to be associated with statistically significant lower ordinary dividends and capital distributions in support of the rent extraction hypothesis. Rent extraction highlights the agency conflict between majority and minority shareholders.Practical/managerial implications: Findings of the present study revealed agency conflicts that may be informative to those charged with corporate governance to help them resolve agency conflict.Contribution/value-add: This study is the first to consider the association between ownership concentration and payout behaviour in South Africa subsequent to the introduction of the dividends tax regime in 2012. The descriptive evidence submitted can serve as a basis for further explanatory research relating to ownership concentration and payout behaviour of companies.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"97 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72988481","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}

{"title":"The intention of South Africans to engage in collaborative consumption: The case of Uber","authors":"A. Berndt, Anmar Pretorius, D. Blaauw","doi":"10.4102/ac.v21i1.961","DOIUrl":"https://doi.org/10.4102/ac.v21i1.961","url":null,"abstract":"Orientation: The idea of collaborative consumption is developing among consumers, where underutilised or excess resources, skills and money are shared among peers for compensation. Collaborative consumption involves sharing, and as such, Uber, an app-based transport service enables those with spare vehicle capacity to provide a fee-based transport solution.Research purpose: This study investigates the intention to use this service in a South African context, specifically through the Technology Acceptance Model (TAM) and Theory of Planned Behaviour (TPB) because of the suitability of these models in this context. Differences between regular and seldom users are also examined.Motivation for the study: With the widespread use of Uber in South Africa, understanding the factors contributing to the intention to use Uber requires examination.Research design, approach and method: Data were collected using a quantitative survey among panel respondents of South Africans, using electronic data collection. The research instrument comprised pre-existing items measured on a 6-point Likert scale. A total of 367 usable responses were received. Data analysis included testing for differences in means (t-test, Satterthwaite-Welch t-test, Anova F-test, Welch F-test) as well as regression analysis (by means of multiple regressions and two-stage least squares).Main findings: The findings indicate that South Africans intend to use the service largely due to their positive attitude towards the service, the perceived usefulness (PU) of the app and perceived behavioural (PB) control associated with the service. The value of the app has been highlighted in this research, and the importance of its functioning is evident.Practical/managerial implications: The importance of providing a positive service experience impacts the intention to use the service in the future. This emphasises the importance of the service itself and the functioning of the app.Contribution/value-add: Understanding the intention to use this service enables further development of this app and associated services.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"178 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83401896","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}

{"title":"Placemaking and visitors’ reviews of the Golden Mile of Durban","authors":"D. Hlengwa","doi":"10.4102/ac.v21i1.921","DOIUrl":"https://doi.org/10.4102/ac.v21i1.921","url":null,"abstract":"Orientation: Placemaking is a proclivity of cities to change space into place through zoning, naming and development into attractive, people-friendly landscapes where diverse, harmonious and sometimes contradicting amenities are coalesced to attract people.Research purpose: To establish the perceptions of the visitors on appeal, experience and safety of the Golden Mile of Durban.Motivation for the study: The study was motivated by availability of online reviews that remained unanalysed and did not aid decision-making.Research design, approach and method: Data were collected from 287 reviews sampled from the Golden Mile website. Qualitative analysis was performed on the data and categorised according to appeal, experience and safety associated with the Golden Mile.Main findings: The study found that placemaking is always work in progress as destinations strive for competitiveness and to avoid obsoletion. An overwhelming majority of visitors rated the Golden Mile as good to excellent on appeal, experience and safety. Some criticised the place as unsafe with a number of dilapidated buildings spoiling its appeal.Practical/managerial implications: Planners and tourism developers should factor the grass root approach to placemaking by increasing security and urging property owners to revamp their buildings, thus keeping with the image of the place.Contribution/value-add: The article emphasises the significance and value added by online visitors’ reviews in placemaking.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72754353","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}

{"title":"Formal financial institutions financing of immigrant small and medium enterprises in South Africa","authors":"Francis T. Asah, L. Louw","doi":"10.4102/ac.v21i1.953","DOIUrl":"https://doi.org/10.4102/ac.v21i1.953","url":null,"abstract":"Orientation: Small and medium enterprises (SMEs) owned by immigrants in developing economies, such as South Africa, tend to trust formal financial institutions (FFIs) for financial support.Research purpose: Even though immigrant SMEs create opportunities that have important implications for the South African economy; less than 5% of them can access credit from FFIs. This study, therefore, explores the accessibility of credit from FFIs to immigrant SMEs from a supply-side perspective.Motivation for the study: Research studies on improving financing from FFIs to immigrant SMEs will help to boost the survival of immigrant SMEs and promote economic development in South Africa.Research design, approach and method: This qualitative research design used an interpretivistic research paradigm to achieve the research objectives. Data were collected from 16 purposively selected participants and analysed using the five-step process of content analysis outlined by Terre Blanche, Durrheim and Kelly.Main findings: The findings revealed that FFIs are uninterested and biased against considering financing immigrant SMEs and tend to charge them higher interest rates. Collateral, equity contribution and the possession of a South African permanent resident permit with a South African ID are the most important requirements that impact the willingness of FFIs to finance immigrant SMEs.Practical/managerial implications: Implications for the financial institutions in policy development were provided.Contribution/value-add: This research study highlights the requirements and the challenges faced by immigrant SMEs in accessing credit from FFIs. The use of qualitative research design further contributed to the literature on FFIs financing of immigrant SMEs.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73002046","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}

{"title":"The impact of risk factors on South African consumers’ attitude towards online shopping","authors":"K. M. Makhitha, Kate M. Ngobeni","doi":"10.4102/ac.v21i1.922","DOIUrl":"https://doi.org/10.4102/ac.v21i1.922","url":null,"abstract":"Online shopping has been an increasing trend worldwide, especially in countries with a welldeveloped infrastructure for online marketing activities. Online shopping involves purchasing goods and services over the internet (Malapane 2019:1). Consumers can now conveniently purchase products from anywhere, at any time (Arora & Sahney 2018:1040), with an abundance of information. Given the benefits of online shopping, online transactions’ high cart abandonment rates remain a concern (Statista 2020). This is because consumers often prefer to shop at physical retailers because of the ability to touch and feel products physically, instant possession, online distrust and the perceived risk associated with online purchases (Arora & Sahney 2018:1040). Because of these concerns, online shopping is used to make price and product feature comparisons; however, the decision and actual purchases are made in store, after the physical evaluation (Wolny & Charoensuksai 2014:324). This challenge presents an opportunity for online retailers and marketing practitioners to evaluate further the impact that perceived risk has on online buying behaviour and to comprehend online shopping through consumers’ eyes. This is supported by Yang, Sarathy and Lee (2016:75), who stated that future research should take a more consumer-centric approach and try to understand better the impact of online shopping risk factors on consumers’ purchasing behaviour.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74714233","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}

{"title":"Self-employment through ride-hailing: Drivers’ experiences in Johannesburg, South Africa","authors":"Gorton Wilmans, N. Rashied","doi":"10.4102/ac.v21i1.926","DOIUrl":"https://doi.org/10.4102/ac.v21i1.926","url":null,"abstract":"Introduction According to the Quarterly Labour Force Survey (QLFS), unemployment was 30.8% in quarter 3 of 2020 (Statistics South Africa 2020), a record high for the country. Despite annual employment growth across various industries, such as social services, agriculture and mining, employment in the manufacturing, trade, construction and utility industries declined substantially in recent years, causing the rise in South Africa’s unemployment rate. As a result, many South Africans turned to self-employment through entrepreneurship for livelihood. Mahadea and Kaseeram (2018) similarly suggest a strong push factor from unemployment to entrepreneurship – necessity entrepreneurship. This gives rise to the growing informal and township economies, where vulnerable populations such as women and youth are able to enter the labour market through enterprise (Charman 2016), and participate in the economy.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79626570","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}

{"title":"Investigating the direct costs of business rescue","authors":"Nicole Varela Aguiar De Abreu, W. Rosslyn-Smith","doi":"10.4102/AC.V21I1.903","DOIUrl":"https://doi.org/10.4102/AC.V21I1.903","url":null,"abstract":"A vital aspect of any formal turnaround procedure is the costs it imposes on an already financially distressed firm. For the commencement decision, it becomes a vital variable that stakeholders must consider. Whilst proceedings will inevitably generate costs, these costs are most likely to vary between jurisdictions. Our understanding of reorganisation costs, both direct and indirect, is of paramount importance to decision-makers (Armour, Hsu & Walters 2012:109). Our study takes a closer look at the direct costs of the business rescue process to better understand them and their impact on a distressed firm.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"48 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75703713","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}

{"title":"South African bonds as an alternative diversification asset for developed bond markets","authors":"Rogan Pietersen, I. Botha","doi":"10.4102/AC.V21I1.902","DOIUrl":"https://doi.org/10.4102/AC.V21I1.902","url":null,"abstract":"Staff (2013) explains that modern finance is plagued by a host of unrelenting, risk-promoting scenarios. Whether it is the introduction of new global risk factors or greater wealth accumulation expectations, investors are desperately attempting to find new ways to reduce financial risk (Staff 2013). A particular manner to do so, as highlighted by this study, is through diversification. Statman (1987) defined diversification as the reduction of one’s risk by dispersing one’s investments into unrelated securities.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"87 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74621757","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}

{"title":"Establishing a job-crafting and intrapreneurial link: Towards new approaches to innovative work","authors":"N. Dhanpat, C. Schachtebeck","doi":"10.4102/AC.V21I1.934","DOIUrl":"https://doi.org/10.4102/AC.V21I1.934","url":null,"abstract":"Competition in the modern economy can be difficult for smalland medium-sized enterprises (SMEs), as well as large enterprises – for some, because of resource limitations, thereby compelling businesses to establish new ways of innovation and competition (Mafini, Pooe & Loury-Okoumba 2016; Rahayu & Day 2015; Van Niekerk 2014). It is generally accepted that SMEs are characterised as creators and the drivers of innovation; however, large corporates in the face of new competitive threats will often re-examine their competitive positioning in an effort to adapt to current market changes (Van Wyk & Adonisi 2012). Several studies (e.g. Drotskie & Okanga 2016; Strydom 2013) have suggested that businesses need to possess certain internal elements in order to accelerate growth, most prominently elements of innovation, internal competencies, internal leadership, risk-taking capabilities and managerial support. Mxunyelwa and Vallabh (2017) accordingly argued that entrenching a culture of entrepreneurship is deeply beneficial when seeking to establish and strengthen internal capabilities, such as risk-taking competencies, creativity and innovation. It is to this effect that the role of the so-called ‘intrapreneur’ has been acknowledged as important in countering stagnation, overcoming internal hurdles to acting entrepreneurially and ultimately, entrenching innovation (Azami 2013). However, implementation of the intrapreneurship agenda in existing organisations has been largely neglected, with a sustained focus on survival strategies, resulting in depressed internal growth prospects (Badenhorst-Weiss & Cilliers 2014; Okanga & Drotskie 2016). This can also partly be attributed to a phenomenon that Neneh and Van Zyl (2014) term a lack of ‘internal opportunity obsession’. Some authors in the Orientation: This research study focuses on establishing a link between job crafting and landmark studies on intrapreneurship.","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"58 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89483805","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}

{"title":"Exploring the determinants of an organisational talent culture for a Botswanan local government institution","authors":"Refilwe Masale, E. N. Barkhuizen, N. Schutte","doi":"10.4102/AC.V21I1.892","DOIUrl":"https://doi.org/10.4102/AC.V21I1.892","url":null,"abstract":"The public sector delivery system is one of the most critical methods to improve public welfare (Masuku & Jili 2019). Local government authorities are expected to provide sustainable services in the right amount and time (Huragu & Chuma 2019). However, public sector institutions remain under intense scrutiny and criticism as they fail to provide the required services for basic societal needs (Ndevu & Muller 2018). As a result, the past decade witnessed great public dissatisfaction that further escalated into unrest and destruction of public service properties (Morudu 2017).","PeriodicalId":55663,"journal":{"name":"Acta Commercii","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83948297","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}