bluuebunny/crossref_metadata_2025 huggingface dataset:
Some Applications of the Theory of Functions Approximation to the Design of Complex Systems
Authors: Garkina Irina , Danilov Alexander , Budylina Eugene , Monastyrev Paul
Published: June 2017

It is proposed the unified concept of applications of analitical theory of approximation in the development of building materials and flight simulators of modular architecture as complex systems. The annex to the development of simulators of flight dynamics are given the approximation of table - graphically defined functions and functions of several variables by polynomials of higher degrees. It is planned to implement the methods in real-time via parallelization of computational processes. Is given the approximation of aerodynamic factors in simulator of the dynamics of the flight of transport aircraft. It is proposed the description of kinetic processes of formation of physical and mechanical properties of materials to solve control problems of their properties. It indicates the possibility of overcoming the uncertainty targets based on an objective assessment of each of the properties (quality criteria) with their analytical description by polynomial models. The approximation methods are implemented on modern computers. Efficiency was confirmed in the development of training systems for the training of operators of different transport systems and design of composite materials with special properties.
Research on Outdoor Environments and Activity Behavior of Senior Citizens with Dementia - A Study in Taipei City
Authors: Tsai Shu Ying , Chen Ting Yueh
Published: June 2017

In 2015, Alzheimer's Disease International reported that there are over 47.5 million cases of dementia worldwide. In Taiwan, the number of individuals with dementia has reached 244 thousand. Access to suitable outdoor environments can improve the physical, mental, and spiritual health of senior citizens, which in-turn reduces the burden faced by caregivers as well as expenditures related social resources. This study used GPS data and in-depth interviews to examine the effect of exposure to an outdoor environment on 12 senior citizens with mild, moderate, or severe dementia in Taipei. The conclusions of this study were as follows: (1) Outdoor environments should be designed in accordance with the principles of distinctiveness, safety, environmental stimulation, accessibility, comfort, familiarity, and social support. (2) As the severity of dementia increased, the number of activity types that patients could engage in was reduced. In addition, only subjects with mild dementia participated in cognitive activities. (3) Dementia does not equal disability. Based on these findings, we recommend that outdoor environment facilities should be provide to senior citizens depending on the severity of their dementia. Besides that, adequate public facilities should be establish within 800 m of all communities to allow senior citizens to age in place, provide caregivers with some respite, and to achieve the goal of dementia-friendly communities.
Effects of Wall Thickness and Crush Initiators Position under Experimental Drop Test on Square Tubes
Authors: Malawat M. , Istiyanto Jos , Sumarsono D.A.
Published: June 2017

Crush initiators are the weakest points to reduce initial peak load force with significant energy absorption ability. The objective of this paper is to study the effects of square tube thickness and crush initiators position for impact energy absorber (IEA) performance on thin-walled square tubes. Two square tubes having thickness about 0.6 mm (specimen code A) and 1 mm (specimen Code C) were tested under dynamic load. The crushing initiator is designed around the shape of the tube wall and has eight holes with a fixed diameter of 6.5 mm. In the experiment, the crushing initiator was determined at 5 different locations on the specimen wall. These locations are 10 mm, 20 mm. 30 mm, 40 mm, and 50 mm measured from the initial collision position of the specimen tested. The impact load mass was about 80 kg and had a drop height of about 1.5 m. Using the simulation program of the LabVIEW Professional Development System 2011 and National Instrument (NI) 9234 software equipped with data acquisition hardware NI cDAQ-9174 the signal from the load cell was sent to a computer. By controlling the thickness of the thin-walled square tube, the peak loading force can be decreased by approximately 56.75% and energy absorption ability of IEA can be increased approximately to 11.83%. By using different thin-walled square tube can produce different best crush initiators position with the lowest peak load force.
Design of On-Line Measurement System of Film Thickness Based on Infrared Technology
Authors: He Ping , Yu Ji Kai , Hong Long Hua
Published: June 2017

The thickness of the plastic film is an important physical index to the production of plastic. The measurement reslut relates directly to the companies’ economic benefit. This paper mainly introduces the digital signal processing in the detection system of film thickness. Through a perfect processing, the system can improve its SNR and finally get a high precision. Firstly, the principle and scheme was presented. After that, this paper mainly introduces the hardware implementation of the system. It includes analog filter circuit, AD sampling and digital filter. With the experimental verification, the system realizes the measurement of the film thickness on-line which can get the precision of micrometer. At present, the equipment has aready put into use by some companies.
Bacteria Strain Identification with Fluorescence Spectra
Authors: Yang Hui , Xiao Xue , Zhao Xue Song , Wu Yan , Zong Jun Jun
Published: June 2017

From the research of fluorescence spectra of lactobacillus acidophilus, streptococcus mutans and lactobacillus bulgaricus, it was indicated that under the stimulation of UV light, the prbiotic solution would emit fluorescence. Under the stimulation of optimal excitation wavelength of 290nm, the fluorescence peak fell in the range of 300-650nm. 150 groups of spectral data measured by wavelet transform were used for compression, after which each group of data reduced from 1341 points originally to 168 points, which not only retained the features of the original spectrum, but also increased the processing speed of neural networks. Radial basis function neural network method was used for compressed data research, 40 groups of experimental data were trained for each strain, based on which 30 groups of unknown data were identified. Results showed that after training, the radial basis function neural network could accurately predict unknown strains.
The Application of Simulation Technology in Distribution Center
Authors: Jia Yan , Jiang Peng Fei
Published: June 2017

Considering the complexity of workflow in distribution center and the ability of simulation for analysis and optimization of such systems, the application of simulation technology in distribution center is researched in this paper. Taking the distribution center of J mall for example, the third distribution mode of the mall is studied, which procures goods from many suppliers and stores in its own warehouse, then delivers them to the customers according to the different orders. Through the analysis of the Flexsim simulation software, the problems existing in the distribution center are found. And according to the analysis, the improvement suggestions are given and verified by simulation. By comparing the simulation results, it can be concluded that the waiting wastes in receiving area, temporary storage and dispatch area are decreased, and the average utilization rates of the stations become more appropriate. Finally, the output quantities of dispatch area are increased and the efficiency of distribution center is improved.
Forming and Development of the Port Logistics Service Supply Chain
Authors: Wang Zhen Feng , Shi Xin , Cui Yan
Published: June 2017

In the development of modern logistics, ports which are the hub of land and water transportation of goods, have been playing a more and more significant role in international trade and logistics. In order to form logistics service supply chain alliance of port enterprises, enhance service efficiency of port logistics, it finds out that there are shortage in some aspects by investigating and comparing, including development layout of port service, basic establishment, standard of logistics and technology training and supply chain alliance construction progress. On the basis, in the era of supply chain management or Port Logistics, it provides some suggests for building the alliance in ports service supply chain. These suggestions can provide some advantage for port logistics development.
Online Collaboration Adoption Measurement Material: A Case Study in Indonesia’s ABC Telco Company
Authors: Indrawati Indrawati , Pratomo Duto
Published: June 2017

ABC Telco as the largest state owned telecommunication company in Indonesia with 16,097 employees had introduced online collaboration application to support company’s operational activities in the end of 2014. Olive is targeted to change the way of work of every employee to become more effective and efficient. Either of the number of employees who has registered or employees who have been actively using the application is still small, amounting to 12% of the total employees. In order to increase the adoption of Olive, finding factors that affect the behavior intention of ABC employee toward online collaboration applications (Olive) is needed. Based on Unified Theory of Acceptance and Use of Technology 2 [1], this study proposes a new modified model toward Olive. The measurement tool which consists of 8 constructs and 39 items proposed in this study is valid and reliable. Therefore, this proposed measurement material is ready to be used in further study.
Research and Application of Three-Times Pulse Composite Perforating Technology
Authors: Zhao Kun
Published: June 2017

The three-times pulse composite perforating technology is a high quality technology which integrates the perforation and powder fracturing. The main principle is that the shaped charge and the fracture powder are ignited by detonating cord simultaneously. And the perforating jet is formed along the different phases, the high-pressure gas generated by the deflagration of the solid rocket propellant in the cracker fractures the stratum along the perforated hole [1], which can form high diversion channel and crack in the near wellbore area increasing the jet area. After the application of more than 1000 well fields, this technology has obvious effect of increasing production, which has certain reliability, security and low cost.
Integrated Quality Ensuring Technique of Plasma Wear Resistant Coatings
Authors: Zverev Egor A. , Skeeba Vadim Yu. , Martyushev Nikita V. , Skeeba Pavel Yu.
Published: June 2017

We propose the technique of guaranteed quality wear resistant plasma coatings of high-chromium powder material. The appropriate system of engineering models had to be designed in order to obtain the summarized results, as well as to manage the parameters of quality indicators at all stages of the technological processing procedure. Thus, surface roughness was accepted as a criterion in the model development at the stage of preliminary mechanical processing before spraying coatings. The model of plasma coating process proper takes into account the influence of spraying on the main quality indicators, such as adhesive strength, porosity, and the level of residual stresses. The engineering model of finish abrasive grinding is based on ensuring the desired value of the surface roughness parameter provided the geometric and dimensional accuracy of details was achieved.
Putty on the Base of a Modified Silicate Binding Agent
Authors: Loganina Valentina Ivanovna
Published: June 2017

The article provides an overview of manufacturing a binding agent via combined grinding a silicate lump and calcium chloride. The data on the mineralogical composition of a mechanically activated binding agent are presented. The paper also describes composition and properties of putty on the base of a modified binding agent, which is intended for interior finishing operations in buildings.
Studying Temperature Effects on Internal Microstresses in Indexable Inserts Made of (Ti,W)C-Co Group Hard Alloys
Authors: Chuikov R.S. , Chuikov S.S. , Stavyshenko A.S. , Vasilkovich V.A.
Published: June 2017

The article is dedicated to investigating the problem of increasing the efficiency of modular cutting tools with indexable inserts made of hard tool alloys and to describe the most typical types of their damages. The article justifies the relevance of studying the temperature effect of cutting inserts made of (Ti,W)C–Co group hard tool alloys on internal microstresses of the 2nd kind. It contains the data of X-ray studies of samples of hard (TiC 30% WC 66% Co 4%), (TiC 15% WC 79% Co 6%) and (TiC 5% WC 85% Co 10%) alloys using XRD 7000 Shimadzu Maxima automated diffractometer with an add-on heater at temperatures from 20 to 700°C.
Forecasting Performance of Ceramic Cutting Tool
Authors: Maksarov Vyacheslav , Khalimonenko A.
Published: June 2017

The article considers the problems of forecasting the performance of cutting tools equipped with replaceable ceramic cutting bits. It is proposed to forecast the operability of ceramic tools on the ground of dependence between its performance characteristics and the microstructural parameters of the tool material. It is proposed to determine the parameters of ceramic bits microstructure by a nondestructive testing methods based on measuring the specific electrical resistance of ceramic materials. As a result of the study we have undertaken, a relationship was detected between the performance and specific electrical resistance of ceramic cutting tools.
Athletic Trainers' Reasons for and Mechanics of Documenting Patient Care: A Report From the Athletic Training Practice-Based Research Network
Authors: Nottingham Sara L. , Lam Kenneth C. , Kasamatsu Tricia M. , Eppelheimer Bradly L. , Bacon Cailee E. Welch
Published: June 2017

Context: 

Documenting patient care is an important responsibility of athletic trainers (ATs). However, little is known about ATs' reasons for documenting patient care and the mechanics of completing documentation tasks.

Objective: 

To understand ATs' perceptions about reasons for and the mechanics of patient care documentation.

Design: 

Qualitative study.

Setting: 

Individual telephone interviews with Athletic Training Practice-Based Research Network members.

Patients or Other Participants: 

Ten ATs employed in the secondary school setting (age = 32.6 ± 11.4 years, athletic training experience = 7.1 ± 7.8 years) were recruited using a criterion-based sampling technique. Participants were Athletic Training Practice-Based Research Network members who used the Clinical Outcomes Research Education for Athletic Trainers electronic medical record system and practiced in 6 states.

Data Collection and Analysis: 

We used the consensual qualitative research tradition. One investigator conducted individual telephone interviews with each participant. Data collection was considered complete after the research team determined that data saturation was reached. Interviews were transcribed verbatim and independently analyzed by 4 research team members following the process of open, axial, and selective coding. After independently categorizing interview responses into categories and themes, the members of the research team developed a consensus codebook, reanalyzed all interviews, and came to a final agreement on the findings. Trustworthiness was established through multiple-analyst triangulation and member checking.

Results: 

Participants identified 3 reasons for documenting patient care: communication, monitoring patient care, and legal implications. Four subcategories emerged from the mechanics-of-documentation theme: location, time of day, length of time, and criteria for documenting. The ATs described different criteria for documenting patient care, ranging from documenting every injury in the same manner to documenting time-loss and follow-up injuries differently.

Conclusions: 

Whereas ATs recognized individual mechanisms that enabled them to document patient care, they may need more guidance on the appropriate criteria for documenting various patient care encounters and strategies to help them document more effectively.
Volatility forecasting and value-at-risk estimation in emerging markets: the case of the stock market index portfolio in South Africa
Authors: Bonga-Bonga Lumengo , Mutema George
Published: June 2017

Accurate modelling of volatility is important as it relates to the forecasting of Value-at-Risk (VaR). The RiskMetrics model to forecast volatility is the benchmark in the financial sector. In an important regulatory innovation, the Basel Committee has proposed the use of an internal method for modelling VaR instead of the strict use of the benchmark model. The aim of this paper is to evaluate the performance of RiskMetrics in comparison to other models of volatility forecasting, such as some family classes of the Generalised Auto Regressive Conditional Heteroscedasticity models, in forecasting the VaR in emerging markets. This paper makes use of the stock market index portfolio, the All-Share Index, as a case study to evaluate the market risk in emerging markets. The paper underlines the importance of asymmetric behaviour for VaR forecasting in emerging markets’ economies.
Using an inflation-augmented price-earnings ratio to guide tactical asset allocation
Authors: Saville Adrian
Published: June 2017

Asset allocation plays a central role in determining investment outcomes, and available evidence shows that portfolio results can be enhanced through tactical asset allocation if managers use the simple price-earnings ratio as a predictor of equity returns. Recently, some international evidence has emerged which shows that, by augmenting the price-earnings metric with information about consumer price inflation, further enhancements can be achieved in tactical asset allocation.  This study reviews these arguments  as they apply to South Africa, and finds that an inflation-augmented price-earnings ratio is more successful in forecasting equity returns than is the simple price-earnings ratio.  Moreover, the metric is found to be significant in explaining relative asset class returns. On a risk-adjusted basis, however, the tool fails to improve the portfolio results when compared to a buy-and-hold strategy.
Personal or remote interaction? Banking the unbanked in South Africa
Authors: Coetzee Johan
Published: June 2017

The Financial Sector Charter (FSC) requires South African retail banks to provide  retail products and services to the rural-based unbanked. The challenge is deciding whether or not banking the unbanked must be pursued through personal or remote channels. This study considers the challenge facing the four largest South African retail banks. It investigated trends in servicing this market since the effective date of the Charter. It found that banks are currently using an integrated approach combining personal and remote interaction and emphasising the promotion of financial literacy. It remains to be seen whether this approach truly adds value for the unbanked. It is recommended that further research be done to establish exactly what the behavioural characteristics of the unbanked are over a period of continuous use of bank products and services.
Financing gap in Malaysian small-medium enterprises: A supply-side perspective
Authors: Ramlee Shamshubaridah , Berma Madeline
Published: June 2017

In Malaysia, the issue of financing gap in Small Medium Enterprise (SME) financing is common, but hardly discussed nor researched. The issue of financing gap or lacuna arises due to the mismatch between the demand and supply of institutional funds for SMEs. SMEs contend that finance for SMEs are abundant, however, the supply of bank financing is largely unavailable to them. Banks, on the other hand, maintain that lending to these SMEs remains low because of lack of qualified demand. This brought to the forefront the issue of financing lacuna; a perennial issue in many developing countries, including Malaysia. The objective of this paper is to discuss the financing lacuna in Malaysian SMEs, focussing on the supply side. This paper focuses on the supply perspective to fulfil the research gap in understanding the financing lacuna, which has often been overlooked due to the tendency to analyse financing lacuna from the demand side only. This has been based on surveyed data of SME entrepreneurs. This paper outlines the theoretical approaches and practices of SMEs financing in Malaysia, followed by an analysis of the factors that shaped the financing lacuna (gap).
Effects of office space and colour on knowledge sharing and work stress
Authors: Hsiao Luke , Hsiao Ming-Chi , Wang Yu-Lan
Published: June 2017

With the aid of empirical research, this study aims to verify the effects of the variables Office Space and Colour on Knowledge Sharing and Work Stress. Taking the domestic technology industry as the research sample, purposive sampling was applied in a questionnaire survey. Three hundred and sixty-eight questionnaires were distributed to a total of 14 technology companies in the Hsinchu and Southern Taiwan Science Parks. After 21 invalid responses had been removed, 347 valid copies were retrieved. Reliability analysis, factor analysis and hierarchical regression were used to analyse the data. The research outcomes show the significant effects of Office Space and Colour on Knowledge Sharing and Work Stress among employees. Based on the outcomes, certain conclusions and suggestions are proposed.
The relationship between working overtime and knowledge sharing in the food catering service industry – with work stress as the mediator
Authors: Wu Wu-chung
Published: June 2017

Working overtime has long existed in business enterprises, but past studies were generally focused on its negative aspects, such as costs, accidents and work–family conflicts. There has not been extensive exploration of the possibility that an appropriate amount of overtime could have a positive impact. Based on the literature review, we show that working overtime can have a significantly positive impact on knowledge sharing among employees, but significant differences are reflected in the effect of knowledge sharing due to varying degrees of working overtime. Also, through the introduction of work stress and leisure participation as mediation and regulatory factors, working overtime can be shown to have remarkable influences on employees’ knowledge sharing. It is confirmed that varying degrees of working overtime will produce different levels of work stress. Work stress indeed has a partially mediating effect on the relationship between working overtime and knowledge sharing, but the regulatory effect of leisure participation is not obvious. Finally, in the light of our research results, we recommend that similar topics be studied from the perspective of organisational culture.
Labour market reform and potential inequality of outcomes: The Australian story
Authors: Esposto Alexis
Published: June 2017

The global knowledge economy has transformed the world of work in the last four decades. Over the last 40 years the Australian economy underwent major structural change a phenomenon that was initiated in the United Kingdom and the United States in the 1980s. This paper discusses and analyses institutional change characterised by the decentralisation of collective bargaining structures that began in the early 1980s. The paper analyses the impact of these reforms by providing a simple analysis of job creation over a thirty year period. The paper concludes that institutional labour market change can at times produce negative welfare outcomes, particularly as it relates to employment creation. The impact of these effects is increasing inequality of earnings in the labour force.
Projectification and its consequences: Narrow and broad conceptualisations
Authors: Packendorff Johann , Lindgren Monica
Published: June 2017

In this article, we argue that an increased focus on the processes of projectification would be beneficial to project research. By introducing a distinction between narrow and broad conceptualisations of projectification, we extend this research area from its current concern with the increased primacy of projects in contemporary organisational structures into an interest for cultural and discursive processes in society in which notions of projects are invoked. Through an illustration from our earlier empirical research on the sustenance of project work form and the consequences thereof, the implications of applying broad conceptualisations are further discussed.
A maturation model for project-based organisations – with uncertainty management as an always remaining multi-project management focus
Authors: Jerbrant Anna
Published: June 2017

The classical view of multi-project management does not capture its dynamic nature. Present theory falls short in the expositive dimension of how management of project-based companies evolves because of their need to be agile and adaptable to a changing environment. The purpose of this paper is therefore to present a descriptive model that elucidates the maturation processes in a project-based organization as well as to give an enhanced understanding of multi-project management in practice. The maturation model displays how the management of project-based organizations evolves between structuring administration and managing any uncertainty, and emphasizes the importance of active individual actions and situated management actions that haveto be undertaken in order to coordinate, synchronize, and communicate the required knowledge and skills.The outcomes primarily reveal that, although standardized project models are used and considerable resources are spent on effective project portfolio management, how information and communication are executedis essential for the management of project-based organizations. This is particularly true for informal and non-codified communication.
Multiple project team membership and performance: Empirical evidence from engineering project teams
Authors: Chan Kai-Ying Alice
Published: June 2017

Individuals are increasingly involved in more than one project team. This implies that an employee has multiple memberships in these project teams simultaneously, a phenomenon known as multiple team membership (MTM). Previous, predominantly theoretical studies have acknowledged the impacts that MTM has on performance but very scarce empirical evidence exists. The aim of this study is to provide empirical support for some of these theoretical claims using data collected from 435 team members in 85 engineering project teams in South Africa. Results show that MTM has an inverted-U shaped relationship with individual performance and a positive linear relationship with team performance. When a person is working in multiple project teams simultaneously, he/she may encounter more diverse sources of ideas across all teams and thus enhances his/her innovative performance. However, as the number of MTM increases, the negative effect of task switching and fragmented attention will negatively impact on individual performance. At the project team level, a large number of MTM in a focal team allows the team members to integrate diverse sources of knowledge and resources into the focal team. This study also found that individuals’ emotional skills and cognitive skills impact on individual performance. It is recommended to programme and project portfolio managers, who often are involve in scheduling of human resources to multiple projects, to acknowledge both the positive and negative impacts of MTM on performance. Moreover, in high MTM situations, project team members with high emotional and cognitive skills should be selected.
The influence of “buffering” variables on clients’ willingness to engage in dysfunctional behavior after a service failure
Authors: Boshoff Christo
Published: June 2017

Much of the current service failure and recovery literature centres on reactive, post hoc measures that managers can take to address service failure. More importantly, much of the reported research has focused on managerial mechanisms under the direct control of service managers. This study shows that by viewing their responsibilities more broadly than only their narrow service-related goals, service managers can do much to prevent disgruntled clients from switching to competing service providers.A thousand clients of a commercial bank who complained about a service failure completed an online questionnaire. Following a thorough assessment of the construct validity of the measurement model, the mediating role of brand superiority and corporate reputation was assessed by means of structural equation modeling. The results reveal that both brand superiority and reputation mediate the relationship between negative word-of-mouth and intentions to switch to a competing service provider, following a service failure.The results show that by enhancing the firm’s brand superiority and corporate reputation, service firms can build a ‘buffer’ that can deter clients who have suffered a service failure from switching to a competing service provider. In other words, service managers should broaden their organisational involvement by participating in activities such as strategic planning, corporate reputation management, and the planning of brand strategies and positioning strategies, as these variables can prevent complaining clients from ending their relationship with the offending service provider. The results, by implication, caution service managers against a myopic view of their role in the service organisation.
The economic impact of hunting: A regional approach
Authors: Van der Merwe Petrus , Saayman Melville , Rossouw Riaan
Published: June 2017

The core of South Africa tourism industry is based on wildlife tourism.  Private game reserves and game farms which forms part of wildlife tourism constitute most of the wildlife products in South Africa.  On these private reserves and game farms, hunting is one of the major income generators for product owners.  The aim of this study is to analyse the economic impact of hunting on the regional economies of three of South Africa’s most important hunting provinces. The study used economic multipliers, input-output analysis, and related modelling processes through input-output (supply-use) tables and social accounting matrices (SAM). The results differed significantly for the three provinces, with Limpopo receiving the biggest impact (R2.6 billion) and the Free State having the highest multiplier (2.08). The geographical location of the game farms, the number of farms per province and the species available all influenced the magnitude of the economic impact of hunters over and above the traditional determinants of economic impact analysis. The implication of the research is that it will help product owners in the development of game farms or hunting products, contribute to policy formulation, especially for government decisions on what products to offer where, and how to create more jobs.
An analysis of fundamental concepts in the conceptual framework using ontology technologies
Authors: Gerber Marthinus Cornelius , Gerber Aurona Jacoba , Van der Merwe Alta
Published: June 2017

The interpretation of financial data obtained from the accounting process for reporting purposes is regulated by financial accounting standards (FAS). The history and mechanisms used for the development of ʻThe Conceptual Framework for Financial Reporting’ (the Conceptual Framework) as well as the financial accounting standards resulted in impressive volumes of material that guides modern financial reporting practices, but unfortunately, as is often the case with textual manuscripts, it contains descriptions that are vague, inconsistent or ambiguous. As part of the on-going initiatives to improve International Financial Reporting Standards (IFRS), the International Accounting Standards Board (IASB) promotes the development of principle-based IFRS, which aim to address the problems of vagueness, inconsistency and ambiguity. This paper reports on the findings of a design science research (DSR) project that, as artefact, developed a first version ontology-based formal language representing the definitions of asset, liability and equity (the fundamental elements of the statement of financial position as defined in the Conceptual Framework) through the application of knowledge representation (ontology) techniques as used within computing. We suggest that this artefact may assist with addressing vagueness, inconsistencies and ambiguities within the definitions of the Conceptual Framework. Based on our findings, we include suggestions for the further development of a formal language and approach to assist the formulation of the Conceptual Framework. The project focuses on the Conceptual Framework for Financial Reporting after the incorporation of Phase A in the convergence project between the Financial Accounting Standards Board (FASB) and IASB.
The dimensions of brand romance as predictors of brand loyalty among cell phone users
Authors: Petzer Danie , Mostert Pierre , Kruger Liezl-Marie , Kuhn Stefanie
Published: June 2017

In a competitive cell phone industry where consumers have a wide variety of cell phone brands to choose from, it is imperative for marketers to foster brand loyalty in order to establish enduring consumer-brand relationships. Nurturing brand romance has been suggested to marketers to cultivate emotional attachments between consumers and brands so as to increase brand loyalty. This study focussed on determining the extent to which the three underlying dimensions of brand romance, namely pleasure, arousal and dominance predict brand loyalty among cell phone users in the North West province. In total 371 respondents participated in the study. Results indicate that with respect to brand romance, respondents’ current cell phone brands generate brand pleasure and brand arousal, but that these brands are not dominant in their minds. Although respondents participating in the study did not exhibit strong levels of brand loyalty towards their current cell phone brands, the three underlying dimensions of brand romance are statistically significant predictors of brand loyalty.
A primer on counterparty valuation adjustments in South Africa
Authors: Van Vuuren Gary Wayne , Esterhuysen Ja'nel
Published: June 2017

Counterparty valuation adjustment (CVA) risk accounts for losses due to the deterioration in credit quality of derivative counterparties with large credit spreads. Of the losses attributed to counterparty credit risk incurred during the financial crisis of 2008-9 were due to CVA risk; the remaining third were due to actual defaults. Regulatory authorities have acknowledged and included this risk in the new Basel III rules. The capital implications of CVA risk in the South African milieu are explored, as well as the sensitivity of CVA risk components to market variables. Proposed methodologies for calculating changes in CVA are found to be unstable and unreliable at high average spread levels.
Concentration in Botswana's banking sector
Authors: Kayawa T , Amusa A
Published: June 2017

This study examines the degree of competition and efficiency within the commercial banking sector of Botswana. By applying the Herfindahl index, the paper provides an empirical methodology for assessing competition and market concentration among commercial banks. The study also utilises alternative measures of bank input and output by developing simple descriptive indices to assess the level of efficiency in Botswana’s banking sector. Overall, the results indicate that the implementation since 1989, of policies to liberalise and reform financial sector activities has contributed to increased competitiveness and efficiency amongst Botswana’s commercial banks.
On productivity and technology diffusion in Nigeria
Authors: Ndiyo NA
Published: June 2017

This study analyses the long-term trend in knowledge diffusion and productivity growth in Nigeria using a translog specification. The results indicate the need for technological upgrading and imply that policies designed to promote technological development should address the complementarities between different factors of production. The article, thus, provides some support for the argument that total factor productivity (TFP) is technological knowledge and can impact significantly on productivity in a developing economy
A macroeconomic approach to estimating effective tax rates in South Africa
Authors: Amusa HA
Published: June 2017

Using data contained in South Africa's national accounts and revenue statistics, this paper constructs time-series of effective tax rates for consumption, capital income, and labour income. The macroeconomic approach allows for a detailed breakdown of tax revenue accruing to general government and the corresponding aggregate tax bases. The methodology used also yields effective rate estimates that can be considered as being consistent with tax distortions faced by a representative economic agent within a general equilibrium framework. Correlation analysis reveals that savings (as a percentage of GDP) is negatively correlated with both capital income and labour income tax rates. Investment (as a percentage of GDP) is positively correlated with the capital income tax rate, an outcome suggestive of the direct relationship between volatile capital inflows into South Africa and capital tax revenue
The FDI-growth hypothesis: A VAR model for Nigeria
Authors: Olomola PA
Published: June 2017

The objective of this study was to examine the causal relationship between foreign direct investment and economic growth in Nigeria using annual data covering the period 1970 to 2002. The study employed the Granger causality procedure to test the direction of causality between foreign direct investment and economic growth for the Nigerian economy. The endogenous production function was derived to accommodate foreign investment and other domestic policies that could influence growth and foreign investment. The study found a one-way causality between from foreign direct investment to economic growth. The implication arising from this study is that Nigeria should adopt policy whereby FDI is attracted to promote economic growth.
Financial liberalization, currency substitution and savings in Nigeria: Evidence from cointegration and error correction modeling
Authors: Aziakpono M , B-Obasa S
Published: June 2017

The study set out to test the McKinnon-Shaw proposition that financial liberalization will significantly increase savings mobilization. The results partly supported the financial liberalization proposition. Variables that capture the effects of currency substitution such as the interest rate differential, a proxy for underground economy, the inflation differential (as a measure of macroeconomic instability) and a dummy for political instability were significant in their adverse impacts on the saving mobilization process in Nigeria. We, therefore, advocate for an active monetary policy that will help manage the delicate balance between domestic and foreign interest rates. This should be combined with macroeconomic policies that create a stable economic environment along with appropriate financial and exchange rate policies, in order to discourage economic agents from preferring foreign denominated assets to those held in the domestic currency.
Appraisal of the Fischer-DiPasquale-Wheaton (FDW) real estate model and development of an integrated property and asset market model
Authors: Du Toit H , Cloete CE
Published: June 2017

This paper provides a concise overview of the development of an integrated property and asset market model (IPAMM) for South African property markets, utilising the Pretoria office market as case study. The IPAMM simulates the interrelationships between property and asset markets in a diagrammatic quadrant model configuration. The Fischer-DiPasquale-Wheaton (FDW) real estate model, arguably the most advanced diagrammatic quadrant real estate model available at present, served as basis for the development of IPAMM. IPAMM is essentially a regression model based on a system of stochastic equations that captures the interrelationships between property and asset markets. The model advances beyond mere conceptualisation of these relationships to a quantified interpretation and application of the theoretical premises that represent the micro-foundations of economic behaviour in property and asset markets.
Duopoly competition for rational addicts
Authors: Koch SF
Published: June 2017

This paper provides an examination of an oligopoly market for addictive commodities, specifically cigarettes. The model is characterized by overlapping generations of consumers and differentiated products. A price equilibrium, which is both stationary and symmetric, is characterized. The model accounts for many of the features within the South African tobacco market. Although excise taxes rose in South Africa, and the actual price in the market rose by more than the increase in the excise tax, the model shows that the increase in the price beyond the excise tax was caused by factors other than the change in the tax rate. The model also points to potential empirical problems associated with estimating cigarette market outcomes, due to the fact that the combination of market structure and addiction may greatly impact the assumed exogeneity of the prices used in the analysis.
Improving the usefulness of accounting data in financial analysis
Authors: Saville A
Published: June 2017

Accounting practices are flawed.  As a consequence, the accounting data generated by firms are generally open to interpretation, often misleading and sometimes patently false.  Yet, financial analysts place tremendous confidence in accounting data when appraising investments and investment strategies.  The implications of financial analysis based on questionable information are numerous, and range from inexact analysis to acute investment error.  To rectify this situation, this paper identifies a set of simple, yet highly effective corrective measures, which have the capacity to move accounting practice into a realm wherein accounting starts to ‘count what counts’.  The net result would be delivery of accounting data that more accurately reflect firms’ economic realities and, as such, are more useful in the task of financial analysis.
Zero-rating food in South Africa: A computable general equilibrium analysis
Authors: Kearney M , Van Heerden J H
Published: June 2017

Zero-rating food is considered to alleviate poverty of poor households who spend the largest proportion of their income on food.  However, this will result in a loss of revenue for government.  A Computable General Equilibrium (CGE) model is used to analyze the combined effects on zero-rating food and using alternative revenue sources to compensate for the loss in revenue.  To prohibit excessively high increases in the statutory VAT rates of business and financial services, increasing direct taxes or increasing VAT to 16 per cent, is investigated.  Increasing direct taxes is the most successful option when creating a more progressive tax structure, and still generating a positive impact on GDP.  The results indicate that zero-rating food combined with a proportional percentage increase in direct taxes can improve the welfare of poor households.
Land value as a function of distance from the CBD: The case of the eastern suburbs of Pretoria
Authors: Jordaan AC , Drost BE , Makgata MA
Published: June 2017

The greater the benefit derived from using a piece of land for any particular purpose the higher the price the prospective user is willing to pay.  The demand for land is thus a reflection of the utility derived from its use by current or potential users.  The ability to compete for sites depends on whether they have the means to benefit from accessibility and complementarity within the urban framework. Conventional theory states that productivity determines urban rent, which is the highest at the place of maximum accessibility, i.e. the central business district (CBD). This paper review selected residential location theories and the factors influencing location decisions. Using selected eastern suburbs of Pretoria, the paper tries to determine whether residential land values decrease as distance from the CBD increase as theory suggests.Foreign aid and poverty reduction in sub-Saharan Africa: A cross-country investigation
The pricing of trees: A study of hold-ups, holdouts, buy-outs and sell-offs
Authors: Reekie WD
Published: June 2017

This paper draws on transactions cost analysis, price and auction theory, and competition authority findings in order to answer some questions on the structure and trading patterns of the South African forestry industry. Does a forestry firm linked contractually to supply an adjacent sawmill customer, form part of a bilateral monopoly?  For competition policy what are the relevant markets each party sells into or buys from?  Can either firm opportunistically hold-up the other in price revisions?  Or, where contracts have no effective terminal date, can one party hold out against offers of contract buyout?  If one party is a state agency are there rights of eminent domain?  If the state agency is due to be privatised can the method of sale, for example a simultaneous ascending auction, resolve some of the dilemmas?
Rural finance institutions, markets and policies in Africa
Authors: Pederson G
Published: June 2017

We identify three types of obstacles (missing institutions) that limit the process of financial deepening in rural financial markets.  Each of these obstacles contributes to a continuing and common dilemma in developing countries - the lack of long-term finance.  In Africa, as in most developing regions, there is need to develop a more consistent strategy for improving access to term finance in agriculture and rural areas.  Although some examples of term financing can be found in African agriculture, the general lack of term financing in rural areas can be linked to the lack of general policy measures to enhance the environment for long-term financing, weak effective demand for rural and agricultural investment financing, and inadequate capacity of lenders to provide long-term finance to those clientele.
Reform of irrigation management and investment policy in African development
Authors: Easter KW , Zekri S
Published: June 2017

This paper examines the reform of water and irrigation management in Africa and compares it with similar reforms in Asia.  Several things are evident from the review.  First, Sub-Saharan Africa (SSA) is at an earlier stage of irrigation development and reform than Asia.  Second, the articulated need for reform is much stronger in Asia than it is in SSA.  Third, the productivity of small-scale irrigated farms is significantly lower in SSA compared to Asia.  Thus any irrigation investment strategy in SSA should be different from Asia and focus on increasing small-farm productivity as well as small-scale irrigation projects.  Finally, all direct government irrigation investments should be done jointly with decisions regarding the type of project management.
Conditions for successful land reform in Africa
Authors: Groenewald JA
Published: June 2017

Land reform has traditionally had two objectives: equity and productivity. Food insecurity and the need for agriculture to contribute to development emphasise the need to maintain and improve productivity while improving equitability. Land must foster production and agriculture must attract good human material. The following areas need to be considered in policy formulation and delivery: an effective institutional framework involving all the relevant public and private bodies; efficient fiscal planning is essential; potentially successful farmers must be selected and given special support, including extension and adult education; complementary services and infrastructure are needed; prioritisation of functions and land tenure reform is often necessary. In addition, international agricultural markets are very important for Africa.  Wealthy nations should cease trade-distorting protection of their own farmers.