Theses and Dissertations

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Browsing Theses and Dissertations by Author "Gyekye, A. B."

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    Analysis of Financial Literacy amongst University of Students: A Case Study of the University of Venda
    (2018-05-18) Mudzanani, Ronewa Victor; Gyekye, A. B.; Dafuleya, G.
    This study assesses the level of financial literacy and its impact on financial decision making exercised by the tertiary students in South Africa, using the University of Venda (Univen) as a case study. The study does this in three steps. First, it provides the financial literacy levels of students at Univen assessed through an evaluation score that the sampled students responded to. Second, it analyses the relationship between the demographic and socio-economic characteristics of students and their financial literacy levels. Third, it assesses the possible effects of financial literacy on financial decision making among students using correlation and regression analysis. The study uses primary data gathered by the author from the University of Venda registered students in the form of questionnaires. A stratified random sampling method was used to identify the students to form the sample of the study, which is 373. Percent slightly above 50 per cent of these students were found to be financially literate and there were more female students who were financially literate compared to male counterparts. Using the odds ratios, the study compared the financial literacy levels of all schools to the school of Management Sciences, respectively. Only students in Environmental Sciences and Law have higher literacy levels, which are statistically significant, compared to the students in the school of Management Sciences. The results also show that the age and the parent’s educational background have a statistically significant relationship with the student being financial literate. Furthermore the results indicate that there is a statistically significant relationship on good financial decision making (that is, budgeting, savings and investments) and being financial literate, compared to being financial illiterate. This result is not true when borrowing is used as a measure of financial decision making.
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    An assessment of the potential of Hot Spring tourism in Limpopo Province
    (2017-09-18) Munzhelele, Tshilidzi Whitney; Gyekye, A. B.; Sumbana, F.
    Tourism is regarded as a modern day engine of growth globally. In light of this, the South African government aims to increase tourism’s contribution, both direct and indirectly to the economy. In 2012 tourism in South Africa contributed 7, 9% (R189.4 billion) to Gross Domestic Product (GDP) and it is estimated to increase to R499 billion by 2020 (South Africa National Department of Tourism). The purpose of the study was to assess the sustainability of hot spring tourism in Limpopo Province with regard to their competitiveness and potential to contribute to the economy of the country. The study employed a Delphi technique which is designed as group communication process which aims to achieve a convergence of opinion on a specific real world issues. The research developed a set of appropriate indicators that determines hot spring destination competitiveness. Data was collected through two sets of questionnaires administered and addressed to experts in the Limpopo Department of Economic Development and Tourism; academic staff in the department of tourism at University of Venda and tourism managers and practitioners in the tourism hot spring sector. From the findings of the study, recommendations have been made to assist the Limpopo Department of Economic Development and Tourism in designing strategies to make hot spring destinations competitive and sustainable as a tourism activity in Limpopo province.
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    Foreign direct investment and economic growth in SADC countries: A panel data analysis
    (2017-09-18) Mugowo, Onias; Gyekye, A. B.; Dafuleya, G.
    The study aimed to empirically examine the impact of foreign direct investment on economic growth in the Southern African Development Community countries for the period 1980-2015. The relation between foreign direct investment and economic growth has been a subject of extensive discussion in the economic literature. The debate revolves around the growth implications of foreign direct investment. The extraordinary increase in global FDI flows in the last three decades triggered an interest to investigate the growth implications of such huge amounts of cross-border capital movements. Owing to this surge in foreign direct investment flows and the effort countries are putting forth to attract it, it would seem straightforward to argue that foreign direct investment would convey net positive effects on economic growth of a host country. From a theoretical standpoint foreign direct investment has been shown to boost economic growth through technology transfer and diffusion. In light of the expected benefits of foreign direct investment, many empirical studies have been conducted on this subject matter. While the explosion of foreign direct investment flows is distinctive, the evidence accumulated on the growth effects remains mixed. Using fixed effect panel data analysis, on the overall, the findings of the study show a negative effect of FDI on economic growth in the SADC countries for the period 1980 to 2015. The findings are not in tandem with theoretical predictions from growth theorists and some empirical studies carried out on the same topic. The findings of the study imply that FDI does not seem to have an independent effect on economic growth for the panel of countries in the SADC region. This maybe because FDI flows to Africa and into the SADC countries, in particular, are channelled mainly to the extractive sector with little to no linkages with the other sectors of the host country economy. The findings of the study also show that the growth-enhancing potential of FDI is higher in middle-income countries than low-income countries in the SADC region.
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    The impact of foreign aid on the South African economy (1980-2008
    (2012-09-26) Amusa, Rasheedat Gbeminiyi Omotola; Gyekye, A. B.; Masunda, Ushe
    The role of foreign aid in promoting economic growth and improving welfare has been the subject of much debate among development specialists, researchers, aid donors as well as recipients in general. Two very strong views have emerged in the literature; proponents of aid posit that foreign aid contributes to higher welfare levels and economic growth while also improving the socio economic conditions of the poor in the receiving countries. Detractors of the idea that foreign aid promotes growth have argued that aid is not the solution to deep rooted economic problems of recipient countries. According to the latter, aid does not breed an environment that allows nations to themselves develop local strategies to improve growth. The country selected for this study, South Africa, poses an interesting case study given the fact that while the country is not aid- dependent, it still receives a significant amount of official development assistance (ODA). In spite of the above fact and the perceived benefits of foreign aid for growth and development, there are few empirical studies that have investigated the nature of the relationship between foreign aid and economic growth in South Africa. The study found that while foreign aid has positively affected growth in South Africa, the impact is insignificant. Although such aids has ensured a good macroeconomic environment which have been growth- enhancing for the country.
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    Impact of working capital management on the performance of non-financial firms listed on the Johannesburg Stock Exchange (JSE)
    (2018-05-18) Oseifuah, Emmanuel K.; Gyekye, A. B.
    This is the first study to investigate the impact of working capital management on the performance (profitability and value) of South African firms listed on the Johannesburg Securities Exchange (JSE) before, during and after the 2008/2009 global financial crisis. Richards and Laughlin’s (1980) Cash Conversion Cycle (CCC) theory was used as the theoretical framework for analysing and linking working capital management to firm performance. In addition, the study investigates how the separate working capital management components impact the performance of firms. The study used both accounting and market based secondary data obtained from I-Net Bridge/BFA McGregor database and the JSE for 75 firms for the 10 year period, 2003 to 2012. Panel data regression models were used in the analyses. The key findings from the study indicate the following. First, the average profitability (ROA) for the sample firms decreased from 27% (before the financial crisis) to 20.2% during the crisis period and increased to 25.9% after the financial crisis. Second, the average market capitalisation (firm value) decreased from R18.9 billion before the crisis to R16.3 billion during the crisis period, and thereafter increased to a high of R24.4 billion after the crisis. Third, the average firm’s CCC was 28.4 days before the crisis and decreased to 12.5 days during the crisis period and later increased to 16.2 days after the crisis. Fourth, and interestingly, of the four working capital management variables, only accounts receivable conversion period is significantly negatively related to profitability during the financial crisis. Fifth, the three firm-specific variables (size, financial leverage, and current assets to total assets ratio) have no significant relation with profitability during the crisis period. Sixth, the external variable, change in GDP growth rate, has a significant positive relation with profitability. This suggests firms perform better when the economy is booming and otherwise during economic downturns, which is consistent with economic theory. Finally, and perhaps the most important contribution is that the study found an inverted U-shape relationship between working capital management (proxied by cash conversion cycle) and firm value before the crisis. This implies that there exists an optimal level of investment in working capital for which the sampled firms’ value is maximized. At this point, costs and benefits are balanced. Thus corporate managers should aim to keep as close to the optimal level as possible and try to avoid any deviations from it that destroy firm value. On the contrary, the results have not established any such relationship between working capital management and profitability for any of the three financial crisis periods. Based on the findings, it is recommended that firm managers should aim at keeping as close to the optimal working capital level as possible and try to avoid any deviations from it that may destroy firm value.
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    Unemployment among rural youth in South Africa : A case study of Vhembe District of Limpopo Province, South Africa
    (2016-09) Dagume, Mbulaheni Albert; Gyekye, A. B.; Tsegaye, A.
    See the attached abstract below