Research Articles (University of Stellenbosch Business School)

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2050 Scenarios for long-haul tourism in the evolving global climate change regime
(Multidisciplinary Digital Publishing Institute (MDPI), 2012-12) Vorster, Shaun; Ungerer, Marius; Volschenk, Jako
Tourism and its “midwife”, aviation, are transnational sectors exposed to global uncertainties. This scenario-building exercise considers a specific subset of these uncertainties, namely the impact of the evolving global climate change regime on long-haul tourism (LHT), with a 2050 horizon. The basic problematique is that unconstrained growth in aviation emissions will not be compatible with 2050 climate stabilisation goals, and that the stringency and timing of public policy interventions could have far-reaching impacts—either on the market for future growth of LHT, or the natural ecosystem on which tourism depends. Following an intuitive-logic approach to scenario-building, three meta-level scenarios that can be regarded as “possible” futures for the evolution of LHT are described. Two of these, i.e., the “grim reaper” and the “fallen angel” scenarios, are undesirable. The “green lantern” scenario represents the desired future. Long-haul tourist destinations should heed the early warning signals identified in the scenario narratives, and contribute towards realising the desired future. They should further guard against being passive victims if the feared scenarios materialise, by adapting, repositioning early upon reading the signposts, hedging against risks, and seizing new opportunities.
35 years of socially responsible investing (SRI) research : general trends over time
(AOSIS, 2012) Viviers, S.; Eccles, N. S.
This article describes 35 years of academic research into investment practices that in some way integrate a consideration of environmental, social and corporate governance issues. A review of 190 academic papers was undertaken to identify trends in five domains, namely ‘Primary Name’, ‘Research Themes’, ‘Ethical Foundations’, ‘Research Approach’ and ‘SRI Strategies’. The evidence reveals that more than half the researchers refer to such investment practices as Socially Responsible Investing (SRI) and for this reason the name is used in this review as a generic term for the genre. A myriad of other names were also identified. In terms of research themes, one particularly dominant theme was that of financial performance, which was often discussed in relation to fiduciary responsibility and legal aspects. Although the primary ethical foundation was not always directly observable, the majority of papers implied utilitarianism or ‘the greatest good for the greatest number’. Increased mention of ethical egoism (self-interest) is observed in later periods. An equal split between qualitative and quantitative research methodologies was noted, with a qualitative approach being more favoured in recent years. Three SRI strategies have dominated academic discussions over the past 35 years, namely negative screening, positive screening and shareholder activism. Gaps in the literature have been identified and suggestions for future research made.
Adoption factors and moderating effects of age and gender that influence the intention to use a non-directive reflective coaching chatbot
(SAGE Publications, 2022-06) Terblanche, Nicky; Kidd, Martin
Chatbots are increasingly applied in various contexts including helping professions, such as organizational and life coaching. Coaching facilitates individual wellness, behavioral change, and goal attainment in a reflective, non-directive manner, and is considered one of the fastest-growing professions. The use of knowledge imparting service chatbots have been studied; however, the application of chatbots in coaching has received scant research attention, raising the question about which factors and moderating effects play a role in the adoption of reflective, non-directive coaching chatbots. In this study, we applied a modified Unified Theory of the Acceptance and Use of Technology (UTAUT) model to determine factors and moderating effects of age and gender that influence the adoption of a goal-attainment coaching chatbot. Partial least squares structural equation modeling (PLS-SEM) was used for the analysis of a cross-sectional UTAUT survey (n = 226). Performance expectancy, social influence, and facilitating conditions had significant roles as direct determinants of intent to use the coaching chatbot. Gender moderated performance expectancy and age showed a moderation tendency on effort expectancy. This study on non-directive, reflective chatbots in the organizational, and life coaching domains contributes to our understanding of how to design chatbots aimed at helping people find their own answers.
Adult attention-deficit hyperactivity disorder : why should we pay attention
(AOSIS Publishing, 2017) Schoeman, Renata; Albertyn, Ruth; De Klerk, Manie
Background: Attention-deficit hyperactivity disorder (ADHD) is a common neurodevelopmental disorder, with a chronic, costly and debilitating course if untreated. Limited access to diagnosis and treatment for adults with ADHD contributes to the cost of the disorder and the burden of disease. Aim: This study aims to identify the barriers to care for adults with ADHD. Methods: A qualitative analysis of semi-structured interviews with 10 key opinion leaders in the field of adult ADHD in SA was conducted to obtain narratives regarding frustrations experienced when treating adults with ADHD and needs of patients regarding management of ADHD. Qualitative content analysis was completed using Atlas.ti (version 7). Results: Four key themes which emerged from the interviews were ‘lack of recognition of the disorder’, ‘lack of access to diagnosis’, ‘lack of access to treatment’ and ‘a life of perpetual failure’. Core to these themes are the lack of knowledge amongst health care professionals, funders, and society at large. Conclusion: Our findings expand on previous research regarding the need to increase the knowledge base on adult ADHD. A collaborative stakeholder approach is needed to provide research and training for improved diagnosis and treatment for adults with ADHD in the South African context.
Analysis of sources of return in South African private equity
(AOSIS, 2009) Van Niekerk, J. R.; Krige, J. D.
Private Equity is rapidly growing as an asset class for investors in South Africa. Local and international literature presents overwhelming evidence to suggest that Private Equity offers superior risk-adjusted returns and portfolio diversification benefits. This study addresses the question of how exactly Private Equity managers are able to achieve superior returns. A sample of 46 individual completed investments representing large buy-outs in South Africa in the period 1992 to 2007 was selected and analysed to quantitatively investigate the relationship between some of the identified sources of return and the realised internal rates of return in the case of each investment. These relationships were not found to be as strong as expected and in many cases were not supportive of the findings in the literature. Only earnings growth and an increase in the earnings multiple had a significant impact on the internal rates of return achieved according to the sample analysed. The authors conclude that investing in Private Equity is too interdisciplinary to distil the sources of return into a few concise elements. Proprietary knowledge, expertise, superior management skills, relationships and experience all seem to play a role in providing Private Equity managers with a competitive edge over their public market participants.
The analysis of the 2008 US financial crisis : an intervention approach
(International Foundation for Research and Development, 2018) Makatjane, Katleho Daniel; Molefe, Edward Kagiso; Van Wyk, Roscoe Bertrum
The current study investigates the impact of the 2008 US financial crises on the real exchange rate in South Africa. The data used in this empirical analysis is for the period from January 2000 to June 2017. The Seasonal autoregressive integrated moving average (SARIMA) intervention charter was used to carry out the analysis. Results revealed that the financial crises period in South Africa occurred in March 2008 and significantly affected the exchange rate. Hence, the impact pattern was abrupt. Using the SARIMA model as a benchmark, four error metrics; to be precise mean absolute error (MAE), mean absolute percentage error (MAPE), mean error (ME) and Mean percentage error (MPE) was used to assess the performance of the intervention model and SARIMA model. The results of the SARIMA intervention model produced better forecasts as compared to that one of SARIMA model.
An analysis of the applicability of the OECD Model Tax Convention to non-OECD member countries : the South African case
(AOSIS, 2017) Steenkamp, Lee-Ann
Most tax treaties (including South Africa's) are based on the OECD Model Tax Convention on Income and Capital and the related Commentary (the 'OECD Model'). Notwithstanding the uncertainty surrounding its legal status, the courts in many countries use the OECD Model in the interpretation of their tax treaties. The OECD launched an action plan on Base Erosion and Profit Shifting ('BEPS') in 2013, which is aimed at improving international tax cooperation between governments. In South Africa, the importance of combating BEPS is highlighted by the fact that the Davis Tax Committee has appointed a sub-committee specifically to address concerns pertaining to BEPS. South Africa's participation in the BEPS project and its tax treaty negotiations with other countries, especially OECD member states, are of the utmost importance to South Africa's National Treasury. Consequently, it is the primary objective of this article to analyse the applicability of the OECD Model to non-OECD member countries, with particular emphasis on South Africa. It will be argued that, if the treaties of non-member countries are in conformity with the OECD Model and no specific position has been taken, the non-members also accept the provisions of the Model and the Commentary as an interpretative aid.
Are some fund managers better than others? Manager characteristics and fund performance
(AOSIS, 2004) Friis, L. B.; Smit, E. v d M.
The research objective has been to find out whether fund manager characteristics help explain fund performance and propensity to risk taking. Eight independent variables; manager age, tenure of the manager with the fund, years of education, whether the manager holds a MBA or CA/CFA qualification, management team size, fund age and fund objective are regressed on measures of fund performance and riskiness. The findings of the study are highly significant and show that fund performance and riskiness are impacted upon by managers’ qualifications. One can expect better risk-adjusted performance from a fund manager who holds a CA/CFA qualification. Results show that these managers outperform managers without these qualifications, while taking on less risk than managers with MBA qualifications.
Assessing company strength in South Africa using value added : 1990-2000
(AOSIS, 2004) King, C.; Hamman, W. D.
This article aims to determine if value added-based ratio analysis could be used to measure organisation strength and be useful as a tool in corporate strategy formulation. The areas of investigation included productivity of production factors, reinvestment in capital and overall business control. Productivity measurement provides insight into the capital and labour intensity of organisations. Some organisations were able to exert high value added to sales ratios, but they did not perform as well when their productivity levels were measured. Reinvestment in capital tries to establish if organisations have the means to uphold and strengthen their present asset base, which also includes its human capital. Margins on sales and value added are used to measure overall business control and provide insight into the ability of organisations to add value through their own production skills or by command of lucrative contracts with suppliers. Organisations that are able to show high values on both ratios are said to display a high degree of overall business control. The formulas used in this article are a replication of those used by the mentioned authors. The models as developed by Bryant are specifically used to see how they fit in the South African context and to draw conclusions about their use for future purposes.
Bank competition in sub-Saharan African countries : has anything changed in the light of 2007-2008 global financial crisis?
(University of Piraeus, 2018) Motsi, Steve; Ajuwon, Oluseye Samuel; Ntim, Collins
This paper investigated the changes in competitive behaviour of banks in sub-Saharan Africa, following the 2007/2008 global financial crisis. Using 481 bank-year observations from an unbalanced panel of 83 banks from six countries over the period 2008–2013. We employed the Panzar-Rosse model of firm competition, and found that the degree of competition among banks in Sub-Saharan Africa increased. This increase is due to the effect of reform/liberalisation policies, largely initiated in the pre-crisis era. The success that followed via the development of banking systems, nonetheless moderated at the onset of the 2007/2008 financial crisis. System instabilities, which were characteristic of a post-crisis period, exposed deficiencies in regulation and asymmetric incentives for bank management. A significant recalibration of prudential policies followed, as regulators sought to restore system stability, which again had an impact in altering competitive conduct of banks. Policymakers should continue to develop and promote policies geared towards the development of financial intermediation and improved competitive conduct of banks in sub-Saharan Africa.
Between a rock and a hard place : management and implementation teams’ expectations of project managers in an agile information systems delivery environment
(CONSAS, 2017) Nkukwana, Songezo; Terblanche, Nicky H. D.
Background: To address the low success rate in information system (IS) projects, organisations in South Africa are adopting agile implementation methodologies. Agile delivery environments advocate an iterative approach where autonomous, self-organising teams share project management (PM) activities. This encroaches on the traditional project manager role. Are project managers still relevant in agile delivery environments and how should they adapt? Objectives: This case study investigated how project managers could adapt to agile IS implementation environments to remain relevant. Specifically, the views of their key stakeholders (the management and implementation teams) were elicited to provide insights into what is expected from agile project managers. Method: A qualitative, inductive content analysis approach using purposive sampling was used to identify 13 participants (comprising management and implementation team members) within a large South African insurance company. Semi-structured interviews were conducted with all participants. Results: The management and implementation teams agreed that PM remains highly relevant in an agile environment for ensuring project governance including delivery, risk management, reporting and budgeting. There was, however, disagreement between the management and implementation teams on project management interaction with the implementation team. Management preferred a command and control type project manager, while the implementation team favoured a more inclusive, facilitative PM style. Conclusion: To remain viable in an agile IS project implementation environment within large corporates, project managers need to be aware of what various stakeholders expect of them. They need to retain some of the classic PM functions while adapting to the interpersonal and collaborative requirements of the agile way.
Black economic empowerment in the South African mining industry : a case study of Exxaro Limited
(SABINET, 2008-12) Fauconnier, A.; Mathur-Helm, B.
This paper explores some of the key challenges and opportunities in the implementation of the broad-based black economic empowerment (BBBEE) deal of Kumba Resources, which subsequently led to the formation of Exxaro Limited, a large black-owned mining conglomerate in South Africa. Qualitative data were collected through in-depth interviews with a sample of 11 leaders involved directly in the deal. The data were content-analysed and the findings suggested that BEE transactions faced numerous challenges, including finding sustainable funding, securing suitable investors, merging various cultures, dealing with fronting and leadership, and planning management and leadership succession. The study concluded that the deal led successfully to both the equitable transfer of ownership and management and to the control of financial and economic resources to a wider base of the black population. However, several malpractices were identified which may have impeded the process of achieving the intended outcomes. The article provides recommendations, indicates limitations and proposes a way forward.
Business coaching processes that facilitate the successful implementation of business improvement projects
(Oxford Brookes University, 2019) Klopper, Sunet; Van Coller-Peter, Salome
This article is a summary of a research assignment investigating the Business Coaching Processes (BCPs) that support the implementation of Business Improvement Projects (BIPs) in order to gain a better understanding of the coaching processes and tools applied. The selection of coaching processes and tools is most often influenced by the coaching context, the background of the coach and the outcomes required. This study found that the selection and application of processes and tools were influenced by factors not considered and showed a 45% deviation from current literature. This study reflects actual practices applied to support the implementation of BIPs.
Business strategy and marketing : the positioning versus resource-based dichotomy and the way forward
(AOSIS, 2002) Oosthuizen, H.
This paper explores the relationship that exists between business strategy and marketing strategy and how the latter may contribute towards the development of an integrated and systemic approach to organisation-wide strategy development. It finds that the two broad streams in strategy, namely positioning-based and resource-based have a reciprocal relationship and indeed complement each other. The link between business strategy and functional strategies, however, is unclear, particularly in the case of marketing strategy. This uncertainty is mainly attributable to the consideration that marketing strategy appears to be frozen within either a positioning or resource-based view. In this regard a conceptual framework has been proposed which combines the two business approaches into one integrated marketing mission approach. As such the marketing function performs a facilitating role in the formulation of overall organisational strategy in an integrative fashion.
Can we overcome the anthropocentrism bias in sustainability discourse?
(Medknow Publications, 2017) Naude, Piet
Based on a turn to the rational human subject in Descartes, Kant and Feuerbach, this paper critically examines four efforts at shaping sustainability discourse: the definition of sustainability in Our common future; stewardship Christian theology; forms of partisan justice; and GDP as measure of economic growth. These efforts made certain advances, but because they share the underlying anthropocentric bias of Western philosophy, they fail to step out of the current sustainability paradigm. The paper closes with two suggestions of how to de-centre the human subject and to build a network-view of all species.
The challenge of transformation : breaking the barriers
(AOSIS, 2003) Esterhuyse, W. P.
One of the most commonly used concepts in post-apartheid South Africa is undoubtedly the concept ‘transformation’. In order to strip this concept of its ‘bewitchments’ (Nietzsche; Wittgenstein) a conceptual analysis is made of the meaning and usage of the term. In view of the distinction between first order change and second order change, the need for transformation (ethical and strategic), the resistance against transformation (systemic and individual) and the execution and management of transformation is discussed.
Coaching for change in organisational teams : reciprocal research and practice benefits
(Central University of Technology, 2017) Hughes, T.; Albertyn, R. M.
Emerging disciplines often lack an evidence base and, consequently, sacrifice credibility in practice and impact in knowledge creation potential. Coaching is a relatively new discipline with scope and reach into business and management. Finding ways to facilitate change is one of the challenges facing organisations. In this article, we report on an action research intervention to improve decision-making during individual and team coaching amongst senior managers. Action research appears to be an appropriate rigorous methodology in the sequential process of coaching. Coaching in turn utilises tools that action researchers could employ in their practice to facilitate change. Based on the findings, we propose three key elements to guide future action research of coaching for change interventions, namely individual development, mediated process and collective interaction. The rigour provided through the application of action research could make an academic contribution to strengthening the knowledge base of emerging disciplines.
Communicating progress on meeting the United Nations Global Compact goals : an analysis of the South African experience
(Medknow Publications, 2017) Malan, Daniel; Ungerer, Marius
The purpose of business has been a consistent focus area in the field of corporate responsibility (CR). This article examines public disclosures on CR made by South African signatories to the United Nations Global Compact, with reference to recent contributions on the purpose of business. Over time, the focus of CR has shifted from an internal corporate to a broader systemic perspective, reflecting the view that the responsibility of corporations cannot be addressed in isolation. In terms of purpose, Porter and Kramer present Creating Shared Value (CSV) as a way to reinvent capitalism. Donaldson and Walsh argue that what counts as value for a single firm is not the same as value for business in general, and propose a world where collective value is optimized. Corporations have to confront global challenges with commitment and innovation. If they can do so successfully it will be in their own interest and also in the interest of the planet. It is frequently argued that – in addition – it will be the right thing to do from a moral perspective. The use of “in addition” is significant: it illustrates one of the key conceptual challenges to understanding the (perceived) tension between the business case and the moral case for corporate responsibility. “In addition” implies that the business case and the moral case are separate, but that, if they are aligned, there would be no tension. It is argued that the traditional resolution of this tension – enlightened self-interest –is both superficial and flawed. It is proposed that more corporate support for CR based on a normative foundation should be encouraged, and that the concept of Optimized Collective Value is an appropriate way to achieve this.
A comparative analysis of strategy disclosure reporting trends in South Africa in 2010
(University of South Africa, 2013) Ungerer, Marius
ENGLISH ABSTRACT: In South Africa, the King II Report on Corporate Governance recommended that organisations should produce a sustainability report some time during the reporting cycle (IOD 2009: 13). The latest version, King III, places the emphasis on integrated reporting (Roberts 2009: 14). Integrated reporting entails the publishing of both the sustainability report and the annual report at the same time (Rea 2010: 13). King III thus recognises that strategy, risk, performance and sustainability are inseparable (Mammatt, Marx & Van Dyk 2009: 22). Therefore, the integrated report must contain information that is forward looking and gives strategic direction. The objective is to indicate the long-term sustainability of the organisation against the current fi nancial performance (Roberts 2009: 14). In as far as the sustainability aspect of the integrated report is concerned, King III recommends the use of the Global Reporting Initiative (GRI) G3 Guidelines as a generic sustainability reporting framework (PwC 2010: 4). 4From the above, it is clear that organisations should provide information for stakeholders on strategy as part of the disclosure requirements. The specifi c level of strategy disclosure by organisations in public documentation is not a well-researched area in South Africa. Some studies (Rea 2010; Kolk 2010) did report on the level of GRI reporting by industry and companies within industries, while others (Santema & Van de Rijt 2001; Santema, Hoekert, Van de Rijt & Van Oijen 2005) probed general strategy disclosure trends in Europe and South Africa (Padia & Yasseen 2011). 5The rationale behind this study is to determine the specifi c level of disclosure of strategic information in annual and sustainability reports. With this aim in mind, three strategy disclosure baselines were created to determine the level of strategy reporting. The foundation of Baseline 1 was the GRI G3 Guidelines (GRI 2006); Baseline 2 was based on aspects associated with strategic architecture (Ungerer, Pretorius & Herholdt 2011: 144); and Baseline 3 included business model elements (Osterwalder & Pigneur 2010: 14). 6The study focused on 24 companies in South Africa with GRI G3 aligned reports covering fi ve industry sectors (Banking, Construction and Materials, Energy and Natural Resources, Mining and Metals, and Retail). The annual and (if published separately) sustainability reports published by these organisations during the 2010 calendar year formed the main data source. 7The study found different disclosure levels between industries ranging from 81% aggregate average for the Energy and Natural Resources sector to 54% for the Banking sector. The disclosure levels per baseline varied from 57% for Baseline 2, to 66% for Baseline 3 and 68% for Baseline 1.
A comparative study of different segments in the South African lending industry
(AOSIS, 2003) Volschenk, J.; Biekpe, N.
The efficiency and availability of financial services for the poor is a global problem, and has only recently started to attract attention in South Africa. This paper aims to examine the South African microfinance industry by comparing sector-related differences in the ranking of specific problems. Tests for the significance of differences (in the location of specific populations) indicate significant differences in perceptions regarding certain intra-industry segments within the microcredit industry. The recent arguments in favour of a single regulator imply that the financial industry as a whole (commercial and microlending sectors) is homogeneous in its priorities. However, the results in this paper suggest that there is no significant agreement between the priorities of the commercial and microlending industries.

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