Search results for: Shan State (South) Myanmar
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 9812

Search results for: Shan State (South) Myanmar

9542 Moderation Effects of Legal Origin on Corruption and Corporate Performance

Authors: S. Sundarasen, I. Ibrahim

Abstract:

This study examines whether the legal origin of a country alters the association between corruption and corporate performance in the East Asia and South East Asia Region. A total of 18,286 companies from 14 countries in the East Asia and South East Asia Region are tested using Generalized Least Square (GLS) panel and pool data analysis with the cross-section being the income level. The data is further analyzed in terms of high income, upper middle income and low-income countries within the East and South Asia region. The empirical results indicate that legal origin positively moderates the relationship between a country’s corruption level and firm performance. As for the sub-analysis, legal origin positively moderates only in the high and upper middle-income countries. As for the low-income countries, no significance is documented in both the common and civil law.

Keywords: corruption, performance, legal origin, East Asia and South East Asia Region

Procedia PDF Downloads 126
9541 The Presence of Investor Overconfidence in the South African Exchange Traded Fund Market

Authors: Damien Kunjal, Faeezah Peerbhai

Abstract:

Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

Procedia PDF Downloads 131
9540 Impact of Strategic Leadership on Corporate Performance

Authors: Adesina Nathaniel Olanrewaju

Abstract:

The motivation behind this study is the need to see strategic leadership as one of the key driving forces for improving corporate performance. Strategic leadership is seen as a potent source of management development and sustained competitive advantage for both employee and organizational performance. There is currently a charge on leaders as a major cause of organizational failure. Stakeholders give what they can afford, not necessarily what the organization needs and impose operational and financial decisions on the leaders, 200 respondents were fit for the analysis from the six geo-political regions in Nigeria. The selection was done equally among various parastatals through random sampling technique from the south-south, south-east, south-west, north-east, north-west and north-central. A descriptive research of the survey was employed. The data were subjected to t-test analysis and correlation and regression were used for the analysis. The findings revealed that there is a strong relationship and impact between a strategic leader and corporate performance. Recommendations were made based on the findings that strategic leaders should be given the blueprint, company’s policy and the stakeholders’ expectation within a time frame the work is to be carried out.

Keywords: time, strategic, organization, stakeholder, leader, performance

Procedia PDF Downloads 276
9539 The Reality of the Digital Inequality and Its Negative Impact on Virtual Learning during the COVID-19 Pandemic: The South African Perspective

Authors: Jacob Medupe

Abstract:

Life as we know it has changed since the global outbreak of Coronavirus Disease 2019 (COVID-19) and business as usual will not continue. The human impact of the COVID-19 crisis is already immeasurable. Moreover, COVID-19 has already negatively impacted economies, livelihoods and disrupted food systems around the world. The disruptive nature of the Corona virus has affected every sphere of life including the culture and teaching and learning. Right now the majority of education research is based around classroom management techniques that are no longer necessary with digital delivery. Instead there is a great need for new data about how to make the best use of the one-on-one attention that is now becoming possible (Diamandis & Kotler, 2014). The COVID-19 pandemic has necessitated an environment where the South African learners are focused to adhere to social distancing in order to minimise the wild spread of the Corona virus. This arrangement forces the student to utilise the online classroom technologies to continue with the lessons. The historical reality is that the country has not made much strides on the closing of the digital divide and this is particularly a common status quo in the deep rural areas. This will prove to be a toll order for most of the learners affected by the Corona Virus to be able to have a seamless access to the online learning facilities. The paper will seek to look deeply into this reality and how the Corona virus has brought us to the reality that South Africa remains a deeply unequal society in every sphere of life. The study will also explore the state of readiness for education system around the online classroom environment.

Keywords: virtual learning, virtual classroom, COVID-19, Corona virus, internet connectivity, blended learning, online learning, distance education, e-learning, self-regulated Learning, pedagogy, digital literacy

Procedia PDF Downloads 96
9538 An Evaluation of Digital Literacy Skills among First-year Students at a Higher Education Institution in South Africa

Authors: Abdu Feroz Maluleke

Abstract:

Digital literacy skills among first-year university students has been under scrutiny in recent years. This is largely due to the pressure faced by the South African higher education sector as the battle to integrate educational technologies into the teaching curriculum. This study aims to investigate the relationship between the Technology Acceptance Model (TAM) and the digital literacy skills of first-year students at the Tshwane University of Technology in South Africa. A positivism quantitative research methodology will be employed to collect data from 468 first-year students at a higher education institution through a validated questionnaire. Descriptive analyses, T-tests, ANOVA, and Spearman's correlation will be conducted using SPSS. Anticipated findings suggest that various demographic factors, such as previous school, self-efficacy, and age, significantly influence learners' digital literacy competency. Furthermore, the projected findings highlight the importance of rural secondary schools adopting and implementing technological pedagogies in their curriculum. This research aims to make a substantial contribution to the development of ICT adoption guidelines for the secondary school curriculum, which would aid the basic educational sector in South Africa.

Keywords: technology acceptance model, digital literacy skills, secondary schools, south africa

Procedia PDF Downloads 45
9537 Nuclear Terrorism Decision Making: A Comparative Study of South Asian Nuclear Weapons States

Authors: Muhammad Jawad Hashmi

Abstract:

The idea of nuclear terrorism is as old as nuclear weapons but the global concerns of likelihood of nuclear terrorism are uncertain. Post 9/11 trends manifest that terrorists are believers of massive causalities. Innovation in terrorist’s tactics, sophisticated weaponry, vulnerability, theft and smuggling of nuclear/radiological material, connections between terrorists, black market and rough regimes are signaling seriousness of upcoming challenges as well as global trends of “terror-transnationalism.” Furthermore, the International-Atomic-Energy-Agency’s database recorded 2734 incidents regarding misuse, unauthorized possession, trafficking of nuclear material etc. Since, this data also includes incidents from south Asia, so, there is every possibility to claim that such illicit activities may increase in future, mainly due to expansion of nuclear industry in South Asia. Moreover, due to such mishaps the region is vulnerable to threats of nuclear terrorism. This is also a reason that the region is in limelight along with issues such as rapidly growing nuclear arsenals, nuclear safety and security, terrorism and political instability. With this backdrop, this study is aimed to investigate the prevailing threats and challenges in South Asia vis a vis nuclear safety and security. A comparative analysis of the overall capabilities would be done to identify the areas of cooperation to eliminate the probability of nuclear/radiological terrorism in the region.

Keywords: nuclear terrorism, safety, security, South Asia, india, Pakistan

Procedia PDF Downloads 330
9536 The Duty of State to Punish Gross Violations of Human Rights

Authors: Yustina Trihoni Nalesti Dewi

Abstract:

Gross violations of human rights consisting of crime against humanity, genocide and war crime, are serious international crimes. Prohibition such crimes have obtain to the level of international norms of jus cogens based on conventions and customary international law. Therefore, the duty of the state to punish the crimes is obligatory. The legal consequence of jus cogens is obligation erga omnes which are a matter of state responsibility. When a state is not willing or neglects to do so in its national law, it results in state responsibility to be imposed by international human rights and humanitarian law. This article reviews the concept of jus cogens and obligatio erga omnes that appear as two sides of the same coin. It also explains how international human rights and humanitarian law set down the duty of the state to punish gross violations of human rights.

Keywords: duty of states, gross violations of human rights, jus cogens, obligatio erga omnes

Procedia PDF Downloads 438
9535 Teaching Legal English in Russia: Traditions and Problems

Authors: Irina A. Martynenko, Viktoriia V. Pikalova

Abstract:

At the moment, there are more than a thousand law schools in Russia. The program of preparation in each of them without exception includes English language course. It is believed that lawyers in Russia are best trained at the MGIMO University, the All-Russian State University of Justice, Kutafin Moscow State Law University, Peoples’ Friendship University of Russia, Lomonosov Moscow State University, St. Petersburg State University, Diplomatic Academy of Russian Foreign Ministry and some others. Currently, the overwhelming majority of universities operate using the two-level system of education: bachelor's plus master's degree. Foreign languages are taught at both levels. The main example of consideration used throughout this paper is Kutafin Moscow State Law University being one of the best law schools in the country. The article examines traditions of teaching legal English in Russia and highlights problem arising in this process. The authors suggest ways of solving them in the scope of modern views and practice of teaching English for specific purposes.

Keywords: Kutafin Moscow State Law University, legal English, Russia, teaching

Procedia PDF Downloads 193
9534 Limit State Evaluation of Bridge According to Peak Ground Acceleration

Authors: Minho Kwon, Jeonghee Lim, Yeongseok Jeong, Jongyoon Moon, Donghoon Shin, Kiyoung Kim

Abstract:

In the past, the criteria and procedures for the design of concrete structures were mainly based on the stresses allowed for structural components. However, although the frequency of earthquakes has increased and the risk has increased recently, it has been difficult to determine the safety factor for earthquakes in the safety assessment of structures based on allowable stresses. Recently, limit state design method has been introduced for reinforced concrete structures, and limit state-based approach has been recognized as a more effective technique for seismic design. Therefore, in this study, the limit state of the bridge, which is a structure requiring higher stability against earthquakes, was evaluated. The finite element program LS-DYNA and twenty ground motion were used for time history analysis. The fracture caused by tensile and compression of the pier were set to the limit state. In the concrete tensile fracture, the limit state arrival rate was 100% at peak ground acceleration 0.4g. In the concrete compression fracture, the limit state arrival rate was 100% at peak ground acceleration 0.2g.

Keywords: allowable stress, limit state, safety factor, peak ground acceleration

Procedia PDF Downloads 181
9533 Analysis of National Science and Technology Policies: The Case of South Korea

Authors: Jeonghwan Jeon

Abstract:

As the science and technology (S&T) has been rapidly advanced, the national government attempts to reflect changes in the S&T for promoting public R&D activities and economic development. Amongst others, due to the rapid advances and changes of S&T, it becomes important to analyze the trends of S&T policies for formulating the new policy and investigating promising S&T fields. Thus, this paper aims to trace the national S&T policies during this decade for analyzing the change of major S&T fields in the case of South Korea. As one of the organization for S&T policy in South Korea, the National Science and Technology Council (NSTC) has been established to coordinate inter-ministerial policies and programs and to determine all of the national and public S&T policy of South Korea. In this regard, the items on national S&T policy determined by the NSTC are useful for understanding the needs for major S&T fields and adapting to the rapid change of S&T. To this end, we first gathered the data on 512 items on the S&T agenda from 1999 to 2013. Based on these items, the trend of S&T policies is monitored and the major S&T fields are derived. Differences of policy purposes between S&T fields are identified to provide guideline for policy making such as budget allocation or investment promotion as well.

Keywords: national science and technology, policy, trends, S&T field

Procedia PDF Downloads 510
9532 The Impact of Social Enterprises on Women Empowerment in South Asia: A Systematic Review

Authors: Saba Aziz

Abstract:

Social enterprises are playing a growing role in transforming the lives of individuals and communities around the world, providing innovative solutions to critical social and environmental issues such as education, job creation, and health care. Women are increasingly utilising services of these enterprises to overcome socio-economic constraints and increase their access to business and market. This article systematically reviews the available literature on the role of social enterprises on women's empowerment in South Asia. Twelve key terms were specified and researched on five databases. Some of the literature was excluded based on the lack of evidence on the involvement of social enterprises. Remaining literature was rated according to the quality; due to methodological inconsistency, the findings are presented in a descriptive form. The relevant studies review the impact of social enterprises on women’s economic, social, relational, health, personal and political aspects of empowerment. In discussion, we outline areas for further research on social enterprises activity that impacts women’s overall empowerment specifically in South Asia.

Keywords: social enterprise, women empowerment, systematic review, well-being, social impact, micro finance, South Asia, Pakistan

Procedia PDF Downloads 128
9531 Monitoring Trends of Science and Technology Policies in South Korea

Authors: Jeonghwan Jeon

Abstract:

As the science and technology(S&T) has been rapidly advanced, the national government attempts to reflect changes in the S&T for promoting public R&D activities and economic development. Amongst others, due to the rapid advances and changes of S&T, it becomes important to monitor the trends of S&T policies for formulating the new policy and investigating promising S&T fields. Thus, this paper aims to trace the national S&T policies during this decade for monitoring the change of major S&T fields in the case of South Korea. As one of the organization for S&T policy in South Korea, the National Science and Technology Council (NSTC) has been established to coordinate inter-ministerial policies and programs and to determine all of the national and public S&T policy of South Korea. In this regard, the items on national S&T policy determined by the NSTC are useful for understanding the needs for major S&T fields and adapting to the rapid change of S&T. To this end, we first gathered the data on 512 items on the S&T agenda from 1999 to 2013. Based on these items, the trend of S&T policies is monitored and the major S&T fields are derived. Differences of policy purposes between S&T fields are identified to provide guideline for policy making such as budget allocation or investment promotion as well.

Keywords: science and technology policy, trends, S&T field, monitoring

Procedia PDF Downloads 290
9530 Drivers of Global Great Power Assertiveness: Russia and Its Involvement in the Global South

Authors: Elina Vroblevska, Toms Ratfelders

Abstract:

This paper examines the impact of international status-seeking aspirations on great power behavior within the international system. In particular, we seek to test the assumption advanced by the proponents of the Social Identity Theory (SIT) that the inability to achieve social mobilization through joining perceived higher-status social groups (of states) leads great powers to adopt the approach of social competition in which they aim to equal or outdo the dominant group in the area on which its claim to superior status rests. Since the dissolution of the Soviet Union, Russia has struggled to be accepted as a great power by the group of Western states that had created the dominant international system order, while the Soviet states were isolated. While the 1990s and the beginning of the 21st century can be characterized by striving to integrate into the existing order, the second decade has seen a rather sharp turn towards creating a new power center for Russia through the realization of ideas of multipolarity rivalry and uniqueness of the state itself. Increasingly, we have seen the Kremlin striving to collaborate and mobilize groups of states that fall outside of the categories of democracy, multiculturalism, and international order, the way that is perceived by the dominant group, which can be described as the West. Instead, Russia builds its own narrative where it creates an alternative understanding of these values, differentiating from the higher-status social group. The Global South, from a Russian perspective, is the group of states that can still be swayed to create an alternative power center in the international system - one where Russia can assert its status as a great power. This is based on a number of reasons, the most important being that the global north is already highly institutionalized in terms of economy (the EU) and defense (NATO), leaving no room for Russia but to integrate within the existing framework. Second, the difference in values and their interpretation - Russia has been adamant, for the last twenty years, on basing its moral code on traditional values like religion, the heterosexual family model, and moral superiority, which contradict the overall secularism of the Global North. And last, the striking difference in understanding of state governance models - with Russia becoming more autocratic over the course of the last 20 years, it has deliberately created distance between itself and democratic states, entering a “gray area” of alternative understanding of democracy which is more relatable to the global South countries. Using computational text analysis of the excerpts of Vladimir Putin’s speeches delivered from 2000-2022 regarding the areas that fall outside the immediate area of interest of Russia (the Global South), we identify 80 topics that relate to the particular component of the great power status - interest to use force globally. These topics are compared across four temporal frames that capture the periods of more and less permissible Western social boundaries. We find that there exists a negative association between such permissiveness and Putin’s emphasis on the “use of force” topics. This lends further support to the Social Identity Theory and contributes to broadening its applicability to explaining the questions related to great power assertiveness in areas outside of their primary focus regions.

Keywords: Russia, Global South, great power, identity

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9529 Electronic Patient Record (EPR) System in South Africa: Results of a Pilot Study

Authors: Temitope O. Tokosi, Visvanathan Naicker

Abstract:

Patient health records contain sensitive information for which an electronic patient record (EPR) system can safely secure and transmit amongst clinicians for use in improving health delivery. Clinician’s use of the behaviour of these systems is under scrutiny to assess their attributes towards health technology. South Africa (SA) clinicians responded to a pilot study survey to assess their understanding of EPR, what attributes are important towards technology use and more importantly streamlining the survey for a larger study. Descriptive statistics using mean scores was used because of the small sample size of 11 clinicians who completed the survey. Nine (9) constructs comprising 62 items were used and a Cronbach alpha score of 0.883 was obtained. Limitations and discussions conclude the study.

Keywords: EPR, clinicians, pilot study, South Africa

Procedia PDF Downloads 238
9528 Echinococcus in Eastern Cape Province, South Africa

Authors: C. I. Boshoff, S. Steenkamp-Jonker

Abstract:

Cystic echinococcosis (CE), caused by Echinococcus granulosus is an important parasitic infection in livestock worldwide, with severe zoonotic potential. It is important to understand the variability of Echinococcus granulosus, as genotype variations may influence lifecycle patterns, development rate, and transmission. Cystic Echinococcus samples were collected from domestic animals in Eastern Cape Province, South Africa. A molecular study was performed on 14 hydatid cysts obtained from caprine, ovine and bovine livers in order to determine the Echinococcus granulosus strain present in these hosts. The sequencing of the mitochondrial cytochrome C oxidase subunit I (coxI) gene of the hydatid cysts produced sequences of 400 bp for each sample analysed. These sequences were aligned with those present in GenBank and a phylogenetic tree was constructed. Based on coxI genotype the isolates could be grouped into E. granulosus sensu stricto. The findings of the study represent a pilot molecular study on Echinococcus from domestic animals undertaken in South Africa.

Keywords: Echinococcus granulosus, genotypes, livestock, South Africa

Procedia PDF Downloads 405
9527 Use of Life Cycle Data for State-Oriented Maintenance

Authors: Maximilian Winkens, Matthias Goerke

Abstract:

The state-oriented maintenance enables the preventive intervention before the failure of a component and guarantees avoidance of expensive breakdowns. Because the timing of the maintenance is defined by the component’s state, the remaining service life can be exhausted to the limit. The basic requirement for the state-oriented maintenance is the ability to define the component’s state. New potential for this is offered by gentelligent components. They are developed at the Corporative Research Centre 653 of the German Research Foundation (DFG). Because of their sensory ability they enable the registration of stresses during the component’s use. The data is gathered and evaluated. The methodology developed determines the current state of the gentelligent component based on the gathered data. This article presents this methodology as well as current research. The main focus of the current scientific work is to improve the quality of the state determination based on the life-cycle data analysis. The methodology developed until now evaluates the data of the usage phase and based on it predicts the timing of the gentelligent component’s failure. The real failure timing though, deviate from the predicted one because the effects from the production phase aren’t considered. The goal of the current research is to develop a methodology for state determination which considers both production and usage data.

Keywords: state-oriented maintenance, life-cycle data, gentelligent component, preventive intervention

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9526 Relevance for Traditional Medicine in South Africa: Experiences of Urban Traditional Healers, Izinyanga

Authors: Ntokozo Mthembu

Abstract:

Access to relevant health indicates people’s likelihood of survival, including craft of indigenous healing and its related practitioners- izinyanga. However, the emergence of a dreaded novel corona virus - COVID-19 that has engulfed almost the whole world has necessitated the need to revisit the state of traditional healers in South Africa. This circumstance tended to expose the reality of social settings in various social structures and related policies including the manner coloniality reveal its ugly head when it comes treatment between western and African based therapeutic practices in this country. In attempting to gain a better understanding of such experiences, primary and secondary sources were consulted when collecting data that perusal of various literature in this instance including face-to-face interviews with traditional healers working on the street of Tshwane Municipality in South Africa. Preliminary findings revealed that the emergence of this deadly virus coincided with the moment when the government agenda was focussed on fulfilment of its promise of addressing the past inequity practices, including the transformation of medical sector. This scenario can be witnessed by the manner in which government and related agencies such as health department keeps on undermining indigenous healing practice irrespective of its historical record in terms of healing profession and fighting various diseases before times of father of medicine, Imhotep. Based on these preliminary findings, it is recommended that the government should hasten the incorporation of African knowledge systems especially medicine to offer alternatives and diverse to assess the underutilised indigenous African therapeutic approach and relevant skills that could be useful in combating ailments such as COVID 19. Perhaps, the plural medical systems should be recognized and related policies are formulated to guarantee mutual respect among citizens and the incorporation of healing practices in South African health sector, Africa and in the broader global community.

Keywords: indigenous healing practice, inyanga, COVID-19, therapeutic, urban, experience

Procedia PDF Downloads 99
9525 Testing Psychopathy as a Unified Theory of Crime and the Psychometric properties of the Youth Psychopathic Traits Inventory - Short Version among South African Youth

Authors: Leon Holtzhausen, Emma Campbell

Abstract:

This study aimed to explore the psychometric properties of the Youth Psychopathic Traits Inventory- short version (YPI-S) and the applicability of Psychopathy as a Unified Theory of Crime among 213 young adults in South Africa. The deviant behaviour variety scale and the YPI-S were used in this study. Results from factor analysis and reliability measures indicated the YPI-S seemed to have good psychometric properties when applied to the South African sample, however applicability of the behavioural dimension was a challenge. The results related to the association between deviant behaviours and psychopathic traits suggested that Psychopathy as a Unified Theory of Crime could be applied in the South African context. It is however important to note that future research should explore how the relevant scales could be culturally and contextually adapted for better psychometric outcomes.

Keywords: testing psychopathy, adverse childhood experiences, youth psychopathic traits inventory, young adults

Procedia PDF Downloads 43
9524 Developmental Social Work: A Derailed Post-Apartheid Development Approach in South Africa

Authors: P. Mbecke

Abstract:

Developmental social welfare implemented through developmental social work is being applauded internationally as an approach that facilitates social development theory and practice. However, twenty-two years into democracy, there are no tangible evidences that the much-desired developmental social welfare approach has assisted the post-apartheid macroeconomic policy frameworks in addressing poverty and inequality, thus, the derailment of the post-apartheid development approach in South Africa. Based on the implementation research theory, and the literature review technique, this paper recognizes social work as a principal role-player in social development. It recommends the redesign and implementation of an effective developmental social welfare approach with specific strategies, programs, activities and sufficient resources aligned to and appropriate in delivering on the promises of the government’s macroeconomic policy frameworks. Such approach should be implemented by skilled and dedicated developmental social workers in order to achieve transformation in South Africa.

Keywords: apartheid, developmental social welfare, developmental social work, inequality, poverty alleviation, social development, South Africa

Procedia PDF Downloads 333
9523 Modelling Agricultural Commodity Price Volatility with Markov-Switching Regression, Single Regime GARCH and Markov-Switching GARCH Models: Empirical Evidence from South Africa

Authors: Yegnanew A. Shiferaw

Abstract:

Background: commodity price volatility originating from excessive commodity price fluctuation has been a global problem especially after the recent financial crises. Volatility is a measure of risk or uncertainty in financial analysis. It plays a vital role in risk management, portfolio management, and pricing equity. Objectives: the core objective of this paper is to examine the relationship between the prices of agricultural commodities with oil price, gas price, coal price and exchange rate (USD/Rand). In addition, the paper tries to fit an appropriate model that best describes the log return price volatility and estimate Value-at-Risk and expected shortfall. Data and methods: the data used in this study are the daily returns of agricultural commodity prices from 02 January 2007 to 31st October 2016. The data sets consists of the daily returns of agricultural commodity prices namely: white maize, yellow maize, wheat, sunflower, soya, corn, and sorghum. The paper applies the three-state Markov-switching (MS) regression, the standard single-regime GARCH and the two regime Markov-switching GARCH (MS-GARCH) models. Results: to choose the best fit model, the log-likelihood function, Akaike information criterion (AIC), Bayesian information criterion (BIC) and deviance information criterion (DIC) are employed under three distributions for innovations. The results indicate that: (i) the price of agricultural commodities was found to be significantly associated with the price of coal, price of natural gas, price of oil and exchange rate, (ii) for all agricultural commodities except sunflower, k=3 had higher log-likelihood values and lower AIC and BIC values. Thus, the three-state MS regression model outperformed the two-state MS regression model (iii) MS-GARCH(1,1) with generalized error distribution (ged) innovation performs best for white maize and yellow maize; MS-GARCH(1,1) with student-t distribution (std) innovation performs better for sorghum; MS-gjrGARCH(1,1) with ged innovation performs better for wheat, sunflower and soya and MS-GARCH(1,1) with std innovation performs better for corn. In conclusion, this paper provided a practical guide for modelling agricultural commodity prices by MS regression and MS-GARCH processes. This paper can be good as a reference when facing modelling agricultural commodity price problems.

Keywords: commodity prices, MS-GARCH model, MS regression model, South Africa, volatility

Procedia PDF Downloads 174
9522 South Korean Tourists' Expectation, Satisfaction and Loyalty Relationship

Authors: Tolga Gok, Kursad Sayin

Abstract:

The aim of this study is to investigate the relationship between expectation, satisfaction and loyalty of South Korean tourists visiting Turkey. In the research, a questionnaire was used as a data collecting tool. The questionnaires are filled by South Korean tourists coming to Turkey through package tours and individual. The survey was conducted in 2014 in Nevsehir (Cappadocia Region) and Istanbul. Tourist guides and agency staff have helped the implementation of surveys. The survey questions are composed of 4 parts, which are “demographic characteristics of tourists”, “travel behavior characteristics”, “perception of expectations on destination attributes” and “perception of destination loyalty”. 5-point Likert type scale including 28 destination attributes was used to measure the expectations of South Korean tourists coming to Turkey. Questions were directed to the tourists to measure the destination loyalty. The questions relating to destination loyalty are “Talking about Turkey to others”, “Recommendation Turkey to others” and “Tourists’ intentions to revisit Turkey”. The basic hypothesis of the research is that there is a statistically significant relationship among expectations, satisfactions and destination loyalty of South Korean tourists coming to Turkey. The results indicated that the expectation had a significant effect on overall satisfaction. In addition, it was seen that between overall satisfaction of tourists and destination loyalty had a significant relationship. Based on findings, some suggestions for tour operators and travel agencies were made.

Keywords: tourist expectation, tourist satisfaction, destination loyalty, destination attributes

Procedia PDF Downloads 447
9521 A Conceptual Framework for Managing Municipal Finances in South Africa

Authors: Abongile Zweni

Abstract:

As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

Procedia PDF Downloads 265
9520 Navigating Creditors' Interests in the Context of Business Rescue

Authors: Hermanus J. Moolman

Abstract:

The COVID-19 pandemic had a severe impact on the society and companies in South Africa. This raises questions about the position of creditors of companies facing financial distress and the actions that directors should take to cater to the interests of creditors. The extent to which directors owe their duties and consideration to creditors has been the subject of debate. The directors of a solvent company owe their duties to the company in favour of its shareholders. When the company becomes insolvent, creditors are the beneficiaries of the directors’ duties. However, the intermittent phase between solvency and insolvency, otherwise referred to as the realm of insolvency, is not accounted for. The purpose of this paper is to determine whether South African company law appropriately addresses the duties that directors owe to creditors and the extent of consideration given to creditors’ interests when the company is in the realm of insolvency and has started business rescue proceedings. A comparative study on South Africa, the United States of America, the United Kingdom and international instruments was employed to achieve the purpose statement. In the United States of America and the United Kingdom, the focus shifts from shareholders to the best interests of creditors when business recue proceedings commence. Such an approach is not aligned with the purpose of the Companies Act of 2008 that calls for a balance of interests of all persons affected by a company’s financial distress and will not be suitable for the South African context. Business rescue in South Africa is relatively new when compared to the practices of the United States of America and the United Kingdom, and the entrepreneurial landscape in South Africa is still evolving. The interests of creditors are not the only interests at risk when a company is financially distressed. It is recommended that an enlightened creditor value approach is adopted for South Africa, where the interests of creditors, albeit paramount, are balanced with those of other stakeholders. This approach optimises a gradual shift in the duties of directors from shareholders to creditors, without disregarding the interests of shareholders.

Keywords: business rescue, shareholders, creditors, financial distress, balance of interests, alternative remedies, company law

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9519 Umkhonto Wesizwe as the Foundation of Post-Apartheid South Africa’s Foreign Policy and International Relations.

Authors: Bheki R. Mngomezulu

Abstract:

The present paper cogently and systematically traces the history of Umkhonto Wesizwe (MK) and identifies its important role in shaping South Africa’s post-apartheid foreign policy and international relations under black leadership. It provides the political and historical contexts within which we can interpret and better understand South Africa’s controversial ‘Quiet Diplomacy’ approach to Zimbabwe’s endemic political and economic crises, which have dragged for too long. On 16 December 1961, the African National Congress (ANC) officially launched the MK as its military wing. The main aim was to train liberation fighters outside South Africa who would return into the country to topple the apartheid regime. Subsequently, the ANC established links with various countries across Africa and the globe in order to solicit arms, financial resources and military training for its recruits into the MK. Drawing from archival research and empirical data obtained through oral interviews that were conducted with some of the former MK cadres, this paper demonstrates how the ANC forged relations with a number of countries that were like-minded in order to ensure that its dream of removing the apartheid government became a reality. The findings reveal that South Africa’s foreign policy posture and international relations after the demise of apartheid in 1994 built on these relations. As such, even former and current socialist countries that were frowned upon by the Western world became post-apartheid South Africa’s international partners. These include countries such as Cuba and China, among others. Even countries that were not recognized by the Western world as independent states received good reception in post-apartheid South Africa’s foreign policy agenda. One of these countries is Palestine. Within Africa, countries with questionable human rights records such as Nigeria and Zimbabwe were accommodated in South Africa’s foreign policy agenda after 1994. Drawing from this history, the paper concludes that it would be difficult to fully understand and appreciate South Africa’s foreign policy direction and international relations after 1994 without bringing the history and the politics of the MK into the equation. Therefore, the paper proposes that the utilitarian role of history should never be undermined in the analysis of a country’s foreign policy direction and international relations. Umkhonto Wesizwe and South Africa are used as examples to demonstrate how such a link could be drawn through archival and empirical evidence.

Keywords: African National Congress, apartheid, foreign policy, international relations

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9518 Perspectives on the Role of Stakeholder Engagement and Community Participation in River Basin Management in South Africa: A Study of the Hennops River

Authors: Lucien N. James, Mulala D. Simatele

Abstract:

As a country that already faces hydrological and climatological challenges, South Africa’s socio-economic situation only complicates water resource management. This is observable through the state of rivers in the Gauteng Province such as the Hennops and Jukskei which are plagued by pollution from surrounding urban areas. While communities in the Hennops River basin contribute to its degradation, their potential in improved water resource management strategies is yet to be established. Therefore, the aim of this study was to investigate the myriad of ways in which stakeholder and community engagement, mobilisation, as well as participation can be harnessed in contested urban spaces to facilitate a sustainable management system for river basins. Through meetings, clean-up campaigns, and a community workshop, the community of Tembisa and several key informants were engaged. The role of communities and their perceptions on an integrated and participatory approach to solving the Hennops River basin’s current pollution crisis were therefore explored. The findings of this study suggest that meaningful participation is tied to the level of awareness within communities as well as the amount of support attributed to active involvement through the initiatives of stakeholders such as NonGovernmental Organisations. For meaningful participation to take place, more needs to be done to shift communities away from a “bystander” position to a more active role. An approach to community engagement is therefore proposed arguing for the further support of stakeholder-driven initiatives and the raising of awareness around environmental challenges in poorer communities. The findings of this study demonstrate the value of engagement with stakeholders and communities, highlighting ways through which better water management and environmental governance can be achieved in South Africa.

Keywords: community participation, integrated water resource management, river basin management, stakeholder engagement

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9517 An Overview of the Risk for HIV/AIDS among Young Women in South Africa: Gender Based Violence

Authors: Shaneil Taylor

Abstract:

Gender-based violence is a reflection of the inequalities that are associated within a society between the men and women that affects the health, dignity, security and autonomy of its victims. There are various determinants that contribute to the health risk of young women who have experienced sexual violence, in countries that have a high prevalence rate for HIV. For instance, in South Africa, where the highest prevalence rate for HIV is among young women, their susceptibility to the virus has been increased by sexual violence and cultural inequalities. Therefore, this study is a review of literature that explores how gender-based violence increases the possibility for HIV/AIDS among young women in South Africa.

Keywords: gender-based violence, HIV/AIDS transmission, risky sexual behavior, young women

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9516 Caped Intervention: A Single Country Comparative Study of the Role of Russia in Its Involvement in the Crimean Crisis 2014

Authors: Katrina Angeline Santos, Francis Mark Fernandez, Francheska Esmao

Abstract:

Intervention is defined as a forcible interference by a state or states with power in the affairs of another state using force or the threat of force. On the other hand, a military intervention is an intervention, specifically used to define an intervention which uses force. With these, the authors realized a lack in the concept of intervention wherein it is an invited one.The authors wrote this paper to introduce a concept of intervention wherein the intervening state is offering assistance to the state in crisis which asked for one. The authors decided to make a contextual description of this phenomenon because of the lack of concepts regarding intervention between the idea of a single state performing a ‘heroic’ role of intervening in the crisis of another state. The problem that the authors would like to address is regarding the lack of availability in the concept of intervention wherein the state in crisis is seeking the assistance of another state. The authors utilized a contextual description approach to the study through the descriptive presentation of the series of events, by utilizing the news articles and news reports published, which happened in Ukraine and Crimea. This concept is further demonstrated through the utilization of a conceptual framework which shows the mutual relationship between the states. From the analysis of the behavior of Russia and its role in the Crimean Crisis 2014, the authors are able to coin the term, 'Caped Intervention' to describe an intervention of a state as a response to the invitation of assistance of a state in crisis in order for them to achieve their goals. This concept entails a mutual relationship between an intervening state and a sate in crisis. The concept of Caped Intervention describes the role of Russia as a Caped State or an intervening state observed through its action towards Crimea. This concept will help in the observation of the behavior of actors or states in events such as this. It will further help in analyzing the actors’ role in intervention by making it possible to classify the intervening acts into another concept.

Keywords: assistance, caped intervention, crisis, heroic

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9515 Independence of the Judiciary in South Africa: An Assessment After Twenty Years of Democracy

Authors: Serges Djoyou Kamga, Gerard Emmanuel Kamdem Kamga

Abstract:

Any serious constitutionalism entails a system of government characterised by the separation of powers between the executive, the legislature, and the judiciary. The latter is generally in charge of upholding the rule of law and the respect for human rights which are vital for the functioning of any democracy. Therefore, for the judiciary to play its role as a watchdog, it should be independent from other branches of government. The aim of this paper is to examine the independence of the judiciary in South Africa after 20 of democracy. Defining judicial independence as the courts’ ability ‘to decide cases on the basis of established law and the merits of the case, without interference from other political or governmental agents’, the paper examines the extent to which the South African judiciary is independent after twenty years of democracy. As part of assessing the independence of the judiciary, the paper begins by looking at the situation during apartheid, then proceeds with an examination of the post-apartheid legal order. It also examines the institutional independence of the judiciary by looking into its day to day activities which revolve around its self-governance, or administrative and financial independence. In addition, the paper assesses the judges’ individual independence by examining whether judicial appointment, security of tenure, judges’ remuneration and disciplinary actions and the removal of judges from office do not contain loopholes that can hinder judicial independence. Ultimately, the chapter argues that although the South African model of judicial independence is yet to be perfect, it is a good practice that can be emulated by other African countries.

Keywords: judical independence, South Africa, democracy, separation of powers

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9514 Factors Influencing the Use of Green Building Practices in the South African Residential Apartment Construction

Authors: Mongezi Nene, Emma Ayesu-Koranteng, Christopher Amoah, Ayo Adeniran

Abstract:

Although its use has been criticized over the years as being unencouraging, the green building concept is quickly overtaking other concepts, particularly in the construction of commercial properties. The goal of the study is to identify the variables influencing the use of green building practices when developing residential structures. A qualitative methodology, using interviews with semi-structured open-ended questions to 35 property practitioners operating residential apartments in Bloemfontein, South Africa, was used to collect primary data which was analysed using thematic content analysis. The findings show that while respondents have a good understanding of green building principles, they are not being used in the construction of residential buildings in South Africa due to issues with green building approval procedures, the potential for tenant rent increases, the cost of materials, technical issues, contractual issues, and a lack of awareness, among others. This paper recommends among others an urgent need to implement measures by stakeholders towards enhancing the adoption of green building concepts in the construction of residential buildings as well as incentivising its construction through lowered property rates.

Keywords: green building, residential apartments, construction, South Africa

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9513 Characterization and Evaluation of South West Tunisian Clay Types as Insulation of Building Materials

Authors: Najah Majouri, Mohamed El Mankibi, Jalila Sghaier

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This study examined the geotechnical, mineralogical, thermal and physical characterization of clays in south-west Tunisia. Its aims are to elaborate an insulator material based on the clay used in the field of building materials. The geotechnical study showed that the clay studied is characterized by a high degree of plasticity of 30.83%. High mineralogical findings showed that the sample consisted mainly of kaonolite and other clay minerals. The thermal and physical properties of the different samples are obtained by mixing clays, which indicates a promising future for the use of this type of clays in the production of insulating building materials.

Keywords: clay, energy-saving, insulator material, and South-West Tunisia.

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