bluuebunny/crossref_metadata_2025 huggingface dataset:
Control of Hydraulic Manipulator with Consideration of Power Limitations On-Board Energy Source
Authors: Ilyukhin Yu.V.
Published: June 2017

In the paper we present results of theoretical and experimental research of properties of manipulators with electro hydraulic servo drives with energy sources of limited power. The danger of overloading the power sources and associated functional failures of the drive system are discussed. In order to solve the problem we propose a new structure of the control system and algorithms. This allows to effectively distribute available power between hydraulic drives. These control algorithms are based on a system with variable structure with actual fluid flow feedback. This paper presents analysis of the amplitude of the first harmonic and of oscillation frequency of the total flow in the steady state. This allows to give recommendations how to improve dynamic properties of a hydraulic manipulator. The proposed control laws solve the problem of coordination of motion of links of the manipulator for automatic distribution of power resources. Besides this, it creates favorable conditions for functioning of biotechnical system "human operator - hydraulic manipulator" with limited energy source.
Multiple Image Based Human Joint Angle Computation
Authors: Park Ji Hun
Published: June 2017

This paper presents a new computation method for human joint angle. A human structure is modelled as an articulated rigid body kinematics in single video stream. Every input image consists of a rotating articulated segment with a different 3D angle. Angle computation for a human joint is achieved by several steps. First we compute internal as well as external parameters of a camera using feature points of fixed environment using nonlinear programming. We set an image as a reference image frame for 3D scene analysis for a rotating articulated segment. Then we compute angles of rotation and a center of rotation of the segment for each input frames using corresponding feature points as well as computed camera parameters using nonlinear programming. With computed angles of rotation and a center of rotation, we can perform volumetric reconstruction of an articulated human body in 3D. Basic idea for volumetric reconstruction is regarding separate 3D reconstruction for each articulated body segment. Volume reconstruction in 3D for a rotating segment is done by modifying transformation relation of world-to-camera to adjust an angle of rotation of a rotated segment as if there were no rotation for the segment. Our experimental results for a single rotating segment show our method works well.
Monitoring Solid Phase in Oil-Water-Sand Multiphase Flow in Impact Parts Based on Acoustic Emission Sensor Technology
Authors: Wang Kai , Liu Gang , Zhang Jia Lin , Du Jia Chen , Yin Bang Tang
Published: June 2017

Oil-water-sand multiphase flow is widely used in oil production industry. The effect of real-time measurement of the solid phase in oil-water-sand multiphase flow parameters is significant in the monitoring of sand production. In order to improve the existing limitations in solid particle detection of a liquid-solid system, an acoustic emission signals amplify device for liquid-solid flow has been developed and its evaluation test is conducted indoor. Computational fluid dynamic (CFD) analysis method is applied based on the theory of multiphase flow macroscopic continuum. Research is conducted on the distribution of solid phase in oil-water-sand multiphase flows in impact parts. The characteristics of the acoustic emission signals of sand with different sizes and concentrations are also extracted under laboratory conditions. A primary measuring instrument based on acoustic emission is proposed and designed to amplify vibration caused by sand impact. Therefore, the acoustic emisson sensor is much easier to receive solid signal. CFD analysis results show that the impact parts amplified the solid signal caused by the acoustic emission in multiphase flows. The indoor experiment results showed that the sand particle size and concentration have a good correlation with the relative power spectrum amplitude of the signal. The device system can effectively detect sand with the content of more than 0.3 wt.‰ and with the size of fewer than 325 meshes. Accordingly, this method would be helpful to apply the acoustic emission technology in enhancing the solid detection for the multiphase system.
Establishment of Gas Chromatography Analytical Method for 4-Amino-2-Methylpentane
Authors: Zhao Shu Chun , Yan Yan Yan , Zhang Yue , Dong Xin Rui , Zhao Hua , Du Hong Xia , Song Yong Xing
Published: June 2017

The aim of this paper was to establish a gas chromatography (GC) method for the determination of 4-amino-2-methylpentane and validate the methodology. The gas chromatography conditions such as column temperature, carrier gas flow rate, split ratio and the make-up gas flow rate were investigated in detail. The chromatographic column used in this method was capillary column of DA-1. The oven temperature was initially held at 40 °C for 15 min and was then programmed temperature to 140 °C at the rate of 75 °C/min and held for 10 min. The injection temperature was 180 °C and the flame ionization detector temperature was 200 °C. The carrier gas was high pure nitrogen with a flow rate of 0.8 mL/min. The split ratio was 130:1 and the make-up gas flow rate was 30 mL/min. Good linearity of 4-amino-2-methylpentane was obtained within the concentration range of 25.44 mg/mL to 84.81 mg/mL and the correlation coefficient was 0.9990. Good accuracy and precision were obtained and the average recovery was 101.76%. The quantification limit of 4-amino-2-methylpentane was 7.21 μg/mL and the detection limit of that was 3.72 μg/mL. The method was well-validated and proved to be used for quality test of 4-amino-2-methylpentane.
Surface Material Classification Using Landsat-8 OLI Image Acquired in Ulsan by the Different Machine Learning Techniques
Authors: Choung Yun Jae , Jo Myung Hee
Published: June 2017

Surface material classification is an important task for the preservation of land properties and the management of land development plans. The use of remotely sensed images is efficient for the surface material classification task without human access. This research aims to select the most appropriate machine learning technique for the surface material classification task using the remotely sensed images. In this research, the three different machine learning techniques (MD (Minimum Distance), MLC (Maximum Likelihood Classification), and SVM (Support Vector Machine)) were applied for surface material classification using the Landsat-8 OLI (Operational Land Imager) image acquired in Ulsan, South Korea, in the following steps. First, the training samples for each land cover in the given Landsat images were selected by manual labor. Next, the different machine learning techniques (MD, MLC, and SVM) were applied on the given Landsat images, respectively, for carrying out the surface material classification tasks. The accuracies of the three land cover classification maps generated by the different techniques were assessed using the ground truths. Finally, accuracy comparison was conducted for selecting the most suitable approach for classifying the various surface materials in Ulsan. The statistical results show that the SVM classifier is superior to the MD and MLC classifiers for carrying out surface material classification using the given Landsat-8 OLI image.
Construction and Cooperation Mechanism of Logistics Vehicle Scheduling System Based on Ontology and Multi-Agent
Authors: Chu Liang Yong , Dang Shuo , Xie Gen Pei , Meng Cong
Published: June 2017

The development of market economy has put forward new demands to the logistics. However, the traditional artificial decision has been unable to meet the demand of the market. Under the rapid development of Internet of things and information technology, the application of new technology in logistics vehicle scheduling makes it more reasonable, also, reduce the logistics cost. On the basis of traditional logistics vehicle scheduling process, the paper designs a framework of logistics distribution system from ontology view, combined with the application of ontology and agent in the logistics vehicle scheduling and material scheduling. Then, it sets up the vehicle scheduling system model based on the multi-Agent, to analyse the process of mutual cooperation between agents if they complete the task together. Meanwhile, the paper also establishes a communication mechanism based on the blackboard system, to further analyse the cooperation mechanism between Agents.
Rapid Assessment of Use Safety for Silicone Rubber Pad by Thermo-Gravimetric Analysis
Authors: Song Guo Jun , Li Yang , Li Pei Yao , Gu Zheng , Gao Jian Guo , Sun Chang Yong , Song Wen Zhe , Wang Gang , Cong Long Liang
Published: June 2017

Thermo-gravimetric technology was used to rapidly evaluate and measure safe use life of food contact polymer materials. The thermo-gravimetric curve showed that silicone rubber pad decomposition temperature was about 350°C in air and the maximum decomposition rate was 450°C. 370°C, 380°C, 390°C, 400°C, 410°C at the right temperature zone was chosen to do thermo-gravimetric constant temperature experiments; the time of silicon rubber pad’s weightlessness of 5%, 10% 15% was calculated by the above curve, respectively. Finally Arrhenius equation was used to establish the relationship between temperature and time; and then the result of infer silicone rubber pad using life was 1.37 thousand times when it was used as a baking tray.
Microstructure and Mechanical Properties of Laser Welded Dual Phase and Mild Steel Joints for Automotive Applications
Authors: Hafez Khalid M. , Ramadan M. , Fathy N. , Ismail Mona
Published: June 2017

Recently, the laser welding technology of carbon steel is being widely used compared with arc welding technology for its better welding characteristics. In the present study, the influence of welding conditions of both laser beam welding (LBW) and gas metal arc welding (GMAW) as a comparative study on the weld joint microstructures, hardness distribution and fatigue properties crosses the butt-welded joints of dual phase (DP) steel and mild steel are investigated. The results show that LBW produced narrow welds with complete penetration while GMAW produces wide fusion and heat affected zones. The microstructure of the fusion zone of laser welded DP steels contains mainly bainite, martensite, and a few amount of acicular ferrite phases. Hardness values of the heat-affected zone (HAZ) for dual-phase (DP) steels showing lower values for both LBW and GMAW processes due to the tempering action of the martensite phase. A narrow softening region was clearly observed in the HAZ welded for LBW compared with GMAW. In general, the fatigue life of the welded joints is improved by using laser welding technique.
The Effect of Additionally Introduced Impurities of Fe and Pb Ions on Silver Azide Decomposition
Authors: Rodzevich A.P. , Kuzmina L.V. , Gazenauer E.G. , Krasheninin V.I. , Sozinov D.Yu. , Mamadaliev R.A.
Published: June 2017

The experiments have emphasized that additionally introduced impurities of Fe and Pb ions are relevant to the initiation of slow and explosive decomposition of silver azide crystals by the external electric field and UV irradiation. External gas release was used for research purpose. Test-sensitivity is 10−12 mole. Time-to-explosion was measured by a stop watch. It’s been found out that the reaction of slow decomposition in silver azide under the action of electric field turns into explosion faster in samples with the additionally introduced impurities. The samples with additionally introduced Fe are the most explosive ones (time-to-explosion 3 minutes). The authors have assumed that external influence can generate non-equilibrium charge carriers (holes), which become localized on cationic vacancies and support formation of reactive sites. As soon as cut off concentration of these sites is reached, the solid-phase chain reaction turns into explosion. The growing concentration of impurity influences on the number of reactive sites, making their concentration critical. In view of the results obtained in experiments a procedure for monitoring the decomposition of crystals is suggested, which necessitates additional introduction of Fe and Pb ions.
Application of Integrated Methods to Improve the Technological Properties of Steel
Authors: Fedoseev S.N. , Valuev D.V. , Mamadaliev R.A. , Sokolov P.N.
Published: June 2017

Getting a new generation of materials, advancing by its qualities world counterparts, among the most important objectives of the creation of scientific and technical groundwork in various fields of science and technology. Particular attention is paid to technological metals and their alloys; materials having the fine and ultrafine structure, single crystal, amorphous and powder materials. The preparation of such materials is possible thanks to new production technologies, modern equipment and the use of costly additives or use of technologies with application of complex measures for these materials. One way to obtain the desired technological properties is the use of complex natural materials. This method is cheaper compared to other costs, and requires no additional equipment, as well as lower costs of preparatory. For more efficient use of these components is necessary to preliminary processing, which will improve the effect of the use of steel in the modification. The type of treatment can be varied by mechanical activation powder to extract individual components. As a result of a series of studies on the impact modifiers to change the structure and properties of steel were detected changes in the structure; in particular the number of non-metallic inclusions was reduced.Heat treatment allows improving effect of modifying the structure of steel and the items received.
Qualitative Characteristics of МоS2 Solid-Lubricant Coating Formed by Vibro-Wave Impact of Free-Moving Indenters
Authors: Ivanov V.V. , Popov S.I. , Kirichek A.V.
Published: June 2017

The purpose of the investigations carried out is the formation of qualitative nanostructured coatings and development of methods for their application on product surfaces. The principle of a staged study of regularities in the formation of vibration mechanical-chemical coatings from “top to bottom” and “bottom-up” formed a basis of a methodological approach to investigation carrying out. Experimental researches were carried out with the use of specially developed working chambers installed upon vibration machines. As an indenter there were used metal balls 2-5 mm in diameter and made of steel of ShH15 type, samples material – steel 45. The assessment of coating characteristics was carried out with the use of optical, raster scanning probe microscopy. It is determined through the result in the investigations of the impact-pulse interaction of a working environment part under conditions of vibration impact that there are grindings and changes in particles dimensions up to 100 nm and lesser in coating material which allows them to penetrate into micro-and nanocavities of basic metal and, in such a way, to form coating with high antifriction properties. The influence of amplitude-frequency properties of vibro-wave activation upon quality and performance attributes of coating surfaces and also process duration is determined.
The Formation of Surface Roughness of Piston Rings for the Purpose of Improving the Adhesion of Wear-Resistant Coatings
Authors: Maksarov Vyacheslav , Krasnyy V.
Published: June 2017

The paper considers the application of wear resistant coatings by methods of gas thermal and flame spraying. It demonstrates the relationship between adhesion strength of the sprayed coating and surface roughness after abrasive jet machining using piston rings with steel-molybdenum coating as an example. The authors consider the results of studies aimed defining the relationship between surface roughness and of jet-abrasive machining conditions: the distance between the nozzle exit and the workpiece, the number of passages, the operating air pressure and frequency of the shot swapping.
The Research into the Effect of Conditions of Combined Electric Powered Diamond Processing on Cutting Power
Authors: Lobanov D.V. , Arkhipov Pavel V. , Yanyushkin A.S. , Skeeba Vadim Yu.
Published: June 2017

The paper presents results of the investigation into efficiency of high-tensile composite materials grinding with metal bonded diamond abrasive tools, as well as it demonstrates the necessity to stabilize diamond disks cutting properties in order to reduce cutting power, since it is one of important economic indicators of processing. The comparative analysis of preliminary studies of various diamond processing methods reveals that the minimal cutting power is observed when using the combined method of electric powered diamond processing which includes electrochemical grinding and simultaneous continuous electrochemical dressing of the grinding disk surface. Further research into the suggested method reveals relevant mathematical dependences of metal-bonded diamond disks cutting power and electric modes. The analysis of the results shows that combining of hard-alloy surface electrochemical dissolution and electrochemical dressing of the disk surface facilitates mechanical cutting with high effectiveness and little effort. This leads to substantial reduction of cutting power as compared with other methods. The reasonable electric modes are discovered which provide the minimal cutting power without reducing efficiency of the process and quality of finished product.
An investigation into the role of listed property shares in a retirement fund portfolio in South Africa
Authors: Mkhize Mkhethwa , Bekwa Vuyani
Published: June 2017

The main aim of this research paper was to investigate the role of listed property shares in a retirement fund portfolio in South Africa, one objective being to determine the appropriate weightings to be allocated to listed property shares. This research paper uses data collected from January 1995 to December 2004. The Elton and Gruber computer programme is used to test the data to give optimal weightings to the listed property sector and to produce an efficient frontier. The results of this research paper demonstrated the benefits offered by listed property shares and revealed that the sector should be treated as a separate asset class from equity owing to low correlation of returns between these two classes of assets. Results also demonstrated that an increase in the allocation to the listed property sector results in better investment performance over the study period.
Innovation and social entrepreneurship at the bottom of the pyramid - A conceptual framework
Authors: Pervez Taimoor , Maritz Alex , De Waal Anton
Published: June 2017

The research aims to identify key success criteria for innovations by enterprises targeting the bottom of the pyramid. Innovation, social entrepreneurship and the bottom of the economic pyramid are defined in the light of academic literature and their varied criteria are explored. The two different academic opinions on fortune or opportunity existing in the BOP markets are also contrasted. The research philosophy is based on realism and the research methodology selected is inductive. The data have been collected through secondary sources using case study strategy to present four cases of innovations by social or corporate enterprises at the BOP. The case studies have been chosen from a variable range in terms of BOP countries, social enterprises and multinational companies, for-profit or not-for-profit organisations, and product or business model innovations. Success criteria identified from case studies in the light of academic literature include going beyond selling to the poor, considering BOP groups as producers and BOP engagement. A conceptual framework has been developed from identified criteria and further recommendations for empirically testing the framework to turn it into a model have been provided.
Who influenced inflation persistence in China? A comparative analysis of the standard CIA model and CIA model with endogenous money
Authors: Ying Liao , Hu Ridong
Published: June 2017

In this paper, we examine the influencing factors of inflation persistence in China’s economy using the DSGE approach. Two monetary DSGE models are estimated, namely, a standard CIA model and a CIA model with a Taylor rule. This article uses the Bayesian method to estimate the model, and the estimated and inferred results are credible due to the Markov chain reaching convergence. The results show that the augmented model outperforms the standard CIA model in terms of capturing inflation persistence. Further studies show that inflation persistence mainly comes from the persistence of the money supply, while money supply uncertainty, the reaction coefficient of monetary growth to productivity, productivity persistence and productivity uncertainty have a smaller impact on inflation persistence. Changes of monetary policy have little effect on inflation persistence.
Project governance: "Schools of thought"
Authors: Bekker Michiel Christiaan
Published: June 2017

The terminology, definition and context of project governance have become a focal subject for research and discussions in project management literature. This article reviews literature on the subject of project governance and categorise the arguments into three schools of thought namely the single-firm school, multi-firm school and large capital school. The single-firm school is concerned with governance principles related to internal organisational projects and practice these principles at a technical level. The multi-firm school address the governance principles concerned with two of more organisations participating on a contractual basis on the same project and focus their governance efforts at the technical and strategic level. The large capital school consider projects as temporary organisations, forming their own entity and establishing governance principles at an institutional level. From these schools of thought it can be concluded that the definition of project governance is dependent on the type of project and hierarchical positioning in the organisation. It is also evident that further research is required to incorporate other governance variables and mechanisms such as transaction theory, social networks and agency theory. The development of project governance frameworks should also consider the complexity of projects spanning across international companies, across country borders and incorporating different value systems, legal systems, corporate governance guidelines, religions and business practices.
Capital gains tax in South Africa: Perceptions of fairness?
Authors: Maroun Warren , Coldwell David , Turner Magda
Published: June 2017

Regulatory developments are often presented as being in the public interest but recent studies on corporate governance have suggested otherwise. In some cases, regulatory change is driven more by the self-interest of the political elite than by the need for substantive reform. This paper adds to this debate by considering whether capital gains tax (CGT) in South Africa is an example of a genuine attempt to improve the perceived fairness of the tax system or whether perceptions of fairness are being used simply to further political agendas. The paper concludes that the latter may be the case. South Africa is used as a case study because of the fairly recent introduction of CGT, as an example of a material amendment to tax policy, and because of the country’s fairly recent transition to democracy.
An exposition of resource capabilities for SMEs in the emerging markets
Authors: Garg Ritam , De Kalyan K
Published: June 2017

Emerging markets’ small and medium sized enterprises (SMEs), despite having enormous growth potential and significance in the economy, have not been able to harness the advantages of internationalisation and subsequently have fallen short in facing the challenges of globalised competition. The purpose of this study was to review and explore the importance of the resource capabilities, building on the literature from the resource based view (RBV), (core) competency and dynamic capabilities theory, as the main rationale behind their significance in the SME internationalisation. This study intends to provide conceptual clarity about the resource capabilities and their importance in providing the SMEs in the emerging economies, the competitive edge to sustain themselves in today’s business environment. The study concludes with an agenda for future research.
Investment promotion in the South African manufacturing industry: incentive comparisons with Malaysia and Singapore
Authors: Wentzel Martha SI , Steyn Maxi
Published: June 2017

South Africa needs to increase its inward foreign direct investment in order to achieve economic growth. The purpose of this article is to explore which intervention could be launched in the short term to enhance the country's attractiveness for foreign investors. The findings of the literature review demonstrated that incentives, as a determinant of investment, are the short-term intervention with the most significant potential to attract additional foreign direct investment. A comparative study, which provided insight into the incentives that are currently offered to the manufacturing sectors of three countries (South Africa, Malaysia and Singapore), assisted in identifying two additional incentives that the South African government could introduce and three existing incentives that could be amended. The introduction or modification of these incentives could ensure that South Africa has a competitive advantage to attract investment from foreign investors and thereby increase South Africa's inward foreign direct investment in the manufacturing industry.
Is regulatory capital a legitimate, comparable and objective global standard? Evidence from 51 institutions across 17 countries
Authors: Jacobs Johann , Van Vuuren Gary
Published: June 2017

Capital as an instrument for financial regulation has come under scrutiny since the financial crisis of 2007 to 2010 highlighted some deficiencies in the ability of capital to absorb unexpected losses and the procyclical nature of capital. This scrutiny arises mainly from the perspective that one of the principal objectives of capital requirements is to promote and contribute to financial stability. However, the literature on the topic is scarce almost to the point of non-existence regarding capital’s validity as tool to level the playing fields between financial institutions. The objective of this article is therefore to investigate financial regulations based on capital requirements from the perspective of its goal of providing equal competitive conditions for financial institutions, the attainment of which is based on the assumption that the cost of capital between institutions (and countries) is the same, which might not necessarily be the case. The cost of capital for 51 financial institutions across 17 countries (three institutions per country) is accordingly calculated in this article using original weighted average cost of capital and capital asset pricing models, as well as modified versions of these to include more country-specific factors. The objective of the article is sought firstly by determining whether the cost of capital is the same among countries and secondly, based on the results, ascertaining whether financial regulations based on capital requirements can therefore realistically achieve this objective of providing equal competitive conditions for financial institutions.
The influence of quality of work life on employee job satisfaction, job commitment and tenure intention in the small and medium enterprise sectors
Authors: Chinomona Richard , Dhurup Manilal
Published: June 2017

A major reason for advocating for quality of work life has been the promise that it creates a win-win situation: improved employee satisfaction and welfare, hence increased productivity, longer employee tenure and consequently increased company profitability. Nevertheless, in the context of small to medium enterprises (SMEs), scant attention has been given to the empirical investigation into the influence of the quality of work life on employee tenure intention in Southern Africa. The purpose of this study is to fill this gap by examining the influence of SME employees’ perceptions of the quality of work life on their tenure intention and the mediating role of job satisfaction and job commitment in this relationship as far as Zimbabwe is concerned. Five hypotheses were posited and sample data of 282 were collected from Harare, Zimbabwe’s biggest city, to empirically test these hypotheses. The results of this study showed that, in the SME context, quality of work life positively and significantly influences employee job satisfaction, job commitment and consequently tenure intention. The managerial implications of the findings are discussed and limitations and future research directions are indicated.
Economic incentives of family controlling shareholders and the monitoring role of non-dominant large shareholders in corporate governance: Evidence from the manufacturing firms in Malaysia
Authors: Goh Chin Fei , Rasli Amran , Khan Saif-Ur-Rehman
Published: June 2017

This article explores the economic incentives of dominant controlling shareholders with regard to the expropriation of minority shareholders, on the one hand, and the monitoring role of non-dominant large shareholders in family firms, on the other. The authors argue that family controlling shareholders (or family owners) do not share common interests with other shareholders. Drawing on 141 family firms in the manufacturing sector that were listed on Bursa Malaysia (the Malaysian stock exchange) from 2003 to 2006, the article finds an inverted U-shaped relationship between excess control rights and a firm's market performance. The findings also show that both the cash flow rights (i.e. claims on cash payouts) of family controlling shareholders and the presence of non-dominant large shareholders with the ability to contest control of the firm have a positive relationship with market performance.  This study contributes to the literature by indicating that family owners are unlikely to collude with other large shareholders to expropriate minority shareholders. Furthermore, low levels of excess family-owner control rights are beneficial for market performance because firms may benefit from group affiliations and receive patronage from wealthy owners. However, high levels of excess control rights are understood to be an economic incentive for family owners to expropriate minority shareholders during non-crisis periods.
Factors influencing the career success of professional and business women in South Africa
Authors: Doubell Marianne , Struwig Miemie
Published: June 2017

This article reports on an empirical study that investigated factors influencing women’s career success. Statistics relating to the field of women in management indicate that, worldwide, women are underrepresented in executive and decision-making positions. Women face unique challenges in their career pursuit that may prevent them from moving up to executive positions. A framework to investigate the factors influencing career success indicates that factors such as demographics, personality, culture, barriers, external and internal support impact on the career success of women. This study surveyed a sample of 301 professional and business women in South Africa. The results of the empirical survey showed that there are statistical significant relationships between groups of women based on their demographics and their perceptions of the factors that influence their career success.
Market barriers for voluntary climate change mitigation in the South African private sector
Authors: De Jongh Derick , Möllmann Carmen
Published: June 2017

A key challenge in the twenty-first century is to enable economic growth and increase both environmentalquality and social inclusiveness, while mitigating and adapting to the impacts of climate change. The need for a transition to more sustainable consumption and production patterns is undeniable and sustainable economic growth must be placed at the heart of future development for all citizens. The South African private sector is under enormous pressure to remain globally competitive while balancing the interests of society, the environment and its shareholders. It has been suggested that there are discrepancies between what companies say and what they actually do, as they are challenged to move from policy to action. This paper evaluates the extent to which the private sector in South Africa adheres to voluntary climate change mitigation mechanisms and identifies potential market barriers impeding the large-scale uptake of such mechanisms. The research findings suggest that the private sector in South Africa has adopted a “take position, wait and see approach” which places them in a position to take advantage of and influence the opportunities and risks associated with climate change without having a negative impact on the bottom line. The primary barrier to voluntary climate change action is the vagueness of local and international policy frameworks. The different rules and resultant uncertainty around local and international frameworks appear to impede consistent and meaningful action. Although this uncertainty does not prevent the private sector from taking voluntary action, it does appear to negatively affect the overall scale and type of climate change mitigation efforts. While companies are continually improving the quality of sustainability reporting and public disclosure, the challenge still lies in translating these strategies into daily operations and sustainable practice that goes beyond ad hoc mitigation actions.
Foreign direct investment and policy framework: New Granger causality evidence from African countries
Authors: Aregbeshola Rafiu Adewale
Published: June 2017

The strategic importance of foreign direct investment in the contemporary economies has been tremendous.While various countries (developed and developing economies) have benefitted from the direct and spillovereffects of FDI, which range from improved technology and knowledge diffusion through to individual andcorporate capability enhancement, FDI outflow remains largely channelled to the developed countries, andthe rapidly developing countries in Asia and South America. Evidence suggests that the developmentenhancingeffects of FDI are felt more highly in the developing economies, such as economies in Africa.However, FDI inflow to the developing economies has been very low. Using data generated from the AfricanDevelopment Indicators (ADI) between 1980 and 2008 in econometric estimations, this paper finds thatgovernment policies (especially fiscal and monetary policies) play significant roles in facilitating FDI inflow tothe African countries studied. The study thereby suggests an improved regulatory framework to make Africamore attractive to inflow of FDI.
Enhancing the use of internet banking in an emerging market
Authors: Nel Jacques , Boshoff Christo
Published: June 2017

Electronic banking services such as internet banking offer bank clients substantial benefits over traditional banking channels. Although internet banking has been around for many years, increasing the use of the service by bank clients remains a priority for many managers of internet banking services. To address this managerial concern, the study investigates the factors that contribute to the enhanced use of internet banking by bank clients. Based on a literature review, internet-banking factors that could influence bank clients’ actual use of internet banking were identified. Data were collected from 1 156 users of internet banking. The results of the study showed that two factors influence internet banking usage, namely internet banking facilitating conditions and internet banking risk beliefs. The more favourable internet banking facilitating conditions are perceived to be, the more likely bank clients are to increase their use of internet banking. On the other hand, the greater the perceived risks associated with internet banking, the less the chances are that clients will do their banking through the internet. On the basis of these results, recommendations are provided to enhance the use of internet banking.
Quantitative linkages between the formal and informal sectors in the South African economy
Authors: Naidoo GP , Fenyes TI
Published: June 2017

The need to quantify the impact of the informal sector has thus far not received  adequate attention so as to allow policy makers, informal sector enterprises and  the formal sector to determine which specific areas of the economy should be  further analysed for the purposes of ascertaining the linkages that exist between  the formal and informal sectors. In this study, an attempt is made to quantify the  linkages between the formal and informal sector, using the 1993 South African  Input–Output Table. By disaggregating the formal and informal sectors, it has  been possible to determine specific coefficients for both sectors. The “importexport”  concept has been used to show how these sectors are interrelated. The  multiplier analysis confirms that certain sectors of the informal sector may be  more responsive to changes in the final demand than the formal sector.
Securitisation in South Africa: Historic deficiencies and future outlook
Authors: Saayman A , Styger P
Published: June 2017

While American investors have been able to buy mortgage-backed securities  since the late 1970s and asset-backed securities since the mid-1980s, investors  in South Africa have not become involved in this growing market.  Securitisation also spread to Europe, South America, Asia and Australia during  the 1980s. The first securitisation in South Africa was completed in 1989, but  since then only a few securitised products have been offered to the investment  community. The aim of this article is to investigate the reasons for the lack of  growth in securitisation in South Africa and to determine whether securitisation  will grow to be a significant market in South Africa. The methodology used  includes interviews held with investors, securitisation specialists and other  structured finance specialists from the banking community. Experience from  other countries is noted and included in this article
Customer service in the residential property market of South Africa
Authors: Rudansky-KlopperS S , Strydom J
Published: June 2017

An increasing number of estate agencies are entering the real estate market in South Africa and many are struggling to survive as competition grows stronger. Customer service has become of overriding importance to establish a differential advantage that will ensure long-term survival. This study investigates customer service by estate agencies in the residential property market of South Africa. The results indicate that estate agencies seem to be aware of the importance of providing good customer service and of being service-oriented, but they do not always seem to realise the need to conduct marketing research and test the actual satisfaction of customers with the services provided, leaving a potential gap between what the customer wants and what the estate agency provides.
The effect of a budget deficit on inflation: The case of Tanzania
Authors: Solomon M , De Wet WA
Published: June 2017

The Tanzanian economy has remained one of the limited numbers of countries that has experienced a relatively high inflation rate, accompanied by high fiscal deficits for a prolonged period in the absence of any hyperinflation. This paper examines the deficit-inflation relationship in the Tanzanian economy and establishes the causal link that runs from the budget deficit to the inflation rate usingcointegration analysis over the period 1967-2001. Some dynamic simulations are done to gauge the effect of a change in the budget deficit and gross domestic product on inflation over time. Due to monetisation of the budget deficit, significant inflationary effects are found for increases in the budget deficit.
The importance of a vision and mission for small, medium-sized and large businesses
Authors: Van der Walt JL , Kroon J , Fourie BJ
Published: June 2017

Although the vision and mission are important to the strategic planning of a business and much time and effort are spent on their formulation, they aren’t used as planning instruments. The purpose of this paper was to determine whether management understands the vision and mission as complementary concepts and whether they use them effectively in the planning process. This study was conducted by sending questionnaires to businesses in the Gauteng Province where most SMEs in South Africa are situated. Findings confirmed that the majority of businesses, especially small businesses, can distinguish between and have visions and missions, but do not apply them optimally in strategy implementation. Recommendations include that businesses should have a written vision and mission statement, which should be communicated effectively and applied in planning and strategy implementation.
Perceptions of entrepreneurship as a career option in South Africa: An exploratory study among grade 12 learners
Authors: Burger L , Mahadea D , O'Neill C
Published: June 2017

Job creation and poverty alleviation are two pressing challenges facing South Africa today. South Africa’s capacity to address the high unemployment and poverty levels are partly hampered by a poorly developed entrepreneurial culture. An entrepreneurial culture that enhances the supply of effective entrepreneurs at all age and population groups could contribute to economic growth and address both unemployment and poverty. This article investigates the perceptions of entrepreneurship as career option by Grade 12 learners in a specific region in South Africa, as the youth could be viewed as the logical group from which new entrepreneurs should emerge in future. The majority of the surveyed learners seem to have a positive disposition towards small business entrepreneurship as an eventual career, although considerable differences exist in terms of self-image, locality and ethnic backgrounds.
Business plans in bank decision-making when financing new ventures in South Africa
Authors: Pretorius M , Shaw G
Published: June 2017

This article focuses on the position that South African commercial banks adopt when evaluating an application for finance of new business ventures. The role and importance of the business plan in the decision-making process is highlighted and investigated. This article begins to qualitatively describe the decision-making processes, criteria and processes instituted by the four major South African commercial banks that between them serve 96 per cent of the banking services for small business. It then questions the barriers placed on applicants applying for finance and recommends how these barriers can be removed. The article concludes that banks finance business ventures with poor potential for success if the applicant is creditworthy or has the necessary security rather than assist applicants with good plans and ventures with potential, but lacking sufficient security.
A recreational valuation of the freshwater inflows into the Keurbooms estuary by means of a contingent valuation study
Authors: Hosking SG , Du Preez M
Published: June 2017

This paper reports on a contingent valuation made of the freshwater inflow into the Keurbooms Estuary near Plettenberg Bay, South Africa, in April 2001. The value of this water was estimated in terms of the services yielded to recreation users of the estuary, to be between R0,012/m3 and R0,046/m3. This value is currently lower than what farmers are willing to pay for the water in this area, as measured by the income capitalisation method, namely R0,125/m3, but may increase in the future as more and more South African estuaries are undermined through upstream river water abstraction, and recreational substitutes are diminished. A willingness-to-pay function was also estimated and show annual levies paid and investment in goods to access the estuary services to be important determinants of willingness-to-pay.
Time perception among the youth and its implication for industry: An exploratory study
Authors: Rousseau GG , Venter DJL
Published: June 2017

The main objective of this exploratory study was to investigate perceived cultural differences in the perception of time among the youth and its implications for time management and productivity regarding future employment in industry. The study further sought to develop a reliable instrument for measuring time perception across cultures.  A non-probability convenience sample (N=467) was drawn from English, Afrikaans and Xhosa speaking respondents, aged 13 to 18 years.  Results confirmed four factors: time allocation, time economy, time attitudes and scheduling of tasks.  Significant differences between age, language and gender groups on time perception were observed.  These findings have implications for time management training among the youth as well as for industry seeking employees who can perform tasks with speed and efficiency.  Further refinement of the instrument in follow-up studies is essential.
The balanced scorecard as a potential instrument for supporting planning and improvement in accounting education: Comparative survey findings
Authors: Cronje CJ , Vermaak FNS
Published: June 2017

This paper is firstly a comparison of the components of a potential balanced scorecard for accounting departments of universities in South Africa and Australia. Secondly, the various suggested measurement criteria of the balanced scorecard components are also compared. The findings of the research paper indicate no significant differences. The conclusion is that the balanced scorecard constitutes a potential instrument for supporting the planning and improvement of the accounting education environment.
Entrepreneurial networks: Findings from a South African study
Authors: Mitchell BC , Co MJ
Published: June 2017

The purpose of the empirical study is to make intelligible how entrepreneurs use networks, as well as describe the characteristics of these networks. A survey of 325 entrepreneurs from the KwaZulu-Natal province of South Africa was conducted. Results indicate that although South African entrepreneurs have more contacts in their networks, they spend less time in developing and maintaining contacts when compared to their international counterparts. Results show that South Africans have established their network ties for a long time, although most of the contacts were met through the entrepreneur’s own effort rather than through referrals. Results also show that most of the network members are either friends or family members, which is different to international findings where most network members are business associates.
Economic impact of cultural events
Authors: Saayman M , Saayman A
Published: June 2017

The phenomenon of events can hardly be described as a new one.  The aim of this paper is to determine the economic benefits of three major cultural events in South Africa to the host community.  Measuring the economic impact normally entails some estimation of the cash injection into a region by visitors and applying the relevant multiplier to arrive at a monetary estimate of the economic impact.  But few regions or municipal areas have detailed economic data to construct a type of input-output model and derive a multiplier.  The purpose of the methods used in this research were firstly to determine the estimated cash injection, secondly to estimate the size of leakages in the local economy and thirdly to derive an appropriate multiplier to estimate the economic impact of the event.