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Complex adaptive leadership approach in the South African local government: a case of uMzimkhulu Local Municipality, South Africa.
(2023) Ngqoyiya, Andile Christopher.; Mutereko, Sybert.; Ndebele, Nduduzo Comfort.
The South African local governments are faced with a growing trend of service delivery protests from a population that requires an array of high-quality services. To overcome the service delivery challenges faced by South African local government there is a need for strong adaptive leadership. The main objective of this study was to recommend an adaptive complex leadership style towards achieving optimal performance in a specific South African Local Municipality with a view to assisting local government to achieve optimal service delivery and reach set goals of the South African Constitution. This study was conducted in the uMzimkhulu Local Municipality. A mixed-method approach was used. Data were collected through interviews and a survey questionnaire. Qualitative data were analyzed through the use of NVIVO software and quantitative data were analysed using Statistical Package for Social Sciences (SPSS) version 24. A total of 112 respondents completed the questionnaires and 11 participants were interviewed. The findings of this study revealed that effective leadership strategies should be adaptive to complex internal and external environmental factors. Leadership effectiveness is affected by several internal environmental factors. These internal factors include personality clashes among employees, conflicting interests between management, tensions from agent interactions, management unwillingness to embrace innovation, lack of skills among employees, employee lack of passion and a lack of organisational cohesion. External factors affecting leadership included: technology, political influence, public pressure, economic factors and changes in the needs of residents. A model for complex adaptive leadership should include leadership that is enabling, administrative, and adaptive, and must have a combination of different leadership styles. In conclusion the model confirms that leadership is a complex phenomenon as it demands the understanding and appreciation of various factors occurring simultaneously. Leadership decision making requires an understanding such complex internal and external factors. From the study, it is recommended that future studies should focus on understanding the cause of the internal and external complexities affecting leadership in local municipalities.
Ethephon-induced changes in macadamia nuts: implications for dietary indicators, nutritional quality, and postharvest shelf life.
(2024) Aruwajoye, Noluthando Noxolo.; Tesfay, Samson Zeray.; Mditshwa, Asanda.; Magwaza,, Lembe Samukelo.
The thriving macadamia nut industry, prized for its nutritional value, grapples with the challenge of inconsistent abscission seasons, leading to variable harvest times and increased operational costs. To address this, the traditional application of ethephon induces uniform nut abscission and streamlines harvesting. However, it is crucial to investigate how ethephon impacts the nutritional quality and postharvest shelf life of macadamia nuts. This study focuses on the effect of ethephon on the postharvest quality of the ‘788’ and ‘Beaumont’ cultivars, comparing various categories: nuts that successfully abscised due to ethephon (ED), those manually picked from ethephon-treated trees (ET), nuts naturally dropped from control trees (CD), and those manually picked from control trees (CT). Guided by industryrecommended doses, Ethephon 480 SL® was administered using a Cima mist blower to facilitate nut abscission, specifically targeting physiologically mature nuts. The research explores the influence on fatty acids, dietary indicators, biochemical components, and polyphenol oxidase (PPO) activity. Various parameters, including total phenolics, flavonoids, antioxidant activities, sucrose, and total protein, were assessed across treatments using standardized procedures. samples were collected over a 72-day accelerated storage period. The study further assessed the effect of Ethephon on the physical attributes of macadamia during a 56-day accelerated storage, analyzing mass, diameter, colour (L*, a*, b*, and hue angle), and texture. Kernels were roasted at 125 °C for 15 minutes using a hot air oven dryer post drying and dehusking. Models were then developed to predict the firmness and colour parameters of macadamia nuts harvested with ethephon from the ‘788’ and ‘Beaumont’ cultivars based on drying days and storage conditions. The aim was to determine the minimal processing requirements for achieving satisfactory postharvest nut appearance. Input parameters considered included storage temperature, drying temperature, and storage days, while the resulting outputs were firmness and colour parameters (L*, a*, b*, and hue angle). The range of the input parameters spanned from -22℃ to 25℃ for storage temperature, 35 to 57℃ for drying temperature, and 0 to 70 days for storage duration. Significant changes were observed in the fatty acid profiles of macadamia nuts exposed to ethephon treatment. Notably, ethephon led to a substantial increase in stearic acid content, reaching 24,622 μg/g in (ED) after 72 days, compared to 16,764 μg/g in (CD), thereby impacting their nutritional quality. Conversely, ED nuts exhibited a reduction in unsaturated fatty acids (USFAs). Hierarchical clustering analysis identified strong correlations between ED and saturated fatty acids (SFAs) in both ‘Beaumont’ and ‘788’ cultivars, with coefficients of 0.78 and 0.80, respectively. This was accompanied by an increase in atherogenic indices, thrombogenic index, and saturation index, along with a decrease in the hypocholesterolemic/hypercholesterolemic ratio. Concurrently, a robust correlation (0.97) between sucrose and Polyphenol Oxidase (PPO) was observed in ‘Beaumont’, underscoring the influence of ethylene treatment. Notably, ED ‘Beaumont’ nuts exhibited the highest sucrose content at 18.63 mg/g, coupled with elevated PPO activity at 1.06 U g-L. For the physical attributes, ED exhibited a notable influence on the ‘Beaumont’ cultivar, particularly affecting parameters such as a*, b*, mass, and diameter. Conversely, in the ‘788’ cultivar, Principal Component Analysis (PCA) revealed that CD treatment held prominence, showing elevated values for firmness, a*, and b*. Furthermore, model development demonstrated significance, with high coefficients of determination ranging between 0.83 and 0.97. Notably, under reduced drying days and optimal storage temperature, the models predicted maximum L* values of 76.253 and 79.748 for the ‘788’ and ‘Beaumont’ cultivars, respectively. The firmness model was observed to be significant (P<0.0001) specifically for the ‘788’ cultivar. This study provides a theoretical framework for identifying optimum set points crucial for the effective preservation of both the ‘788’ and ‘Beaumont’ varieties of macadamia nuts, particularly in preventing external discolouration. The proposed set points aim to enhance the quality and overall market value of these macadamia nut varieties. The overall findings offer a comprehensive perspective on the effects of ethephon application on macadamia nuts. Stakeholders, producers, and processors in the macadamia nut industry can leverage this research to make informed decisions that enhance overall efficiency and quality while ensuring optimal nutritional value and extended shelf life for macadamia nuts.
Health expenditure, health outcomes and productivity in sub-Saharan Africa: sustainable thresholds, moderation and forecasting.
(2023) Adegoke , Yetunde Oluranti.; George , Gavin Lloyd.; Mbonigaba , Josue.
SSA is known to be confronting distinctive health problems and growth challenges, thereby, inadequate health expenditure, poor health outcomes and their implications for productivity require investigation. This situation persists despite evidence-related policy produced in the past, suggesting the need to investigate further the nature of the relationship between interrelated variables. This study aims to investigate the nonlinear effect of PHE on health outcomes and the moderating role of education on health outcomes, forecast the performance of different PHE scenarios in achieving the 2030 Sustainable Development Goals (SDGs), examine the effect of PHE and health outcomes on TFP and assess the moderating role of education in the relationship between PHE and TFP. The study utilizes various techniques including Panel spatial correlation consistent-ordinary least squares (PSCC-OLS and PSCC-FE) for Objective One, Feasible quasi-generalized least squares (FQGLS) for Objective Two. Fixed and random models, panel two-stage least squares (P2SLS), and panel threshold regression for Objective Three. System panel generalized method of moments (GMM) for Objective four. This study concludes a nonlinear relationship between PHE and health outcomes exists. Furthermore, the interaction of PHE and education would improve health outcomes. Second, an overall increase in PHE by 30% would achieve the SDG target of 70 maternal deaths in only Botswana, Namibia and South Africa. In addition, about 60% of the countries in SSA might be able to achieve the SDG target for child mortality by the year 2030. Third, including PHE and health outcomes into the TFP framework would guarantee a further increase in TFP growth in SSA, and a threshold level of PHE above 3.5% of the GNP could achieve better health outcomes and a further increase in TFP growth in SSA. Fourth, the interactive impact of PHE and education might cause an improvement in TFP in SSA. The study pioneers the investigation of nonlinear, threshold, moderating, forecasting and collaborative effect of PHE, the information is essential for optimizing, redistributing and utilization of resources, specifically, a minimum of 38 dollars per person will achieve better health and productivity in SSA.
Analysis of the dynamics of carbon pricing: the role of speculation in the Emissions Trading System (ETS)
(2024) Isah , Kazeem Ovanero.; Adelakun, Ojo Johnson.
Purpose – To align with the global goal of keeping the temperature rise to well below 2 degrees Celsius, a market-based policy initiative, the "Emissions Trading System (ETS)," is to mitigate climate change. However, the carbon allowances traded at the ETS are held and traded not only by polluting companies, but also emissions non-compliance financial firms. These financial firms though engage in speculation, there has not been any compelling evidence of the extent to which speculation matters in carbon pricing. To bridge this gap, this study is premised on three separate but related essays to: (i) determine the accurate framework for modelling the dynamics of carbon pricing; (ii) determine the extent to which speculation matters in the predictability of carbon pricing; and (iii) determine whether speculation undermines or benefits the emission reduction effect of carbon pricing. Methodology –We employ the GARCH-MIDAS econometric technique to test the hypothesis that an all-inclusive framework that reflects the emission compliance and emissions noncompliance dynamics of the ETS is the most accurate approach to modeling carbon prices. We also employ some verifiable econometric procedures to arrive at the Feasible Quasi Generalised Least Square (FQGLS) as the most appropriate estimator to address some of the biases in the predictability of carbon prices. Findings – A modeling framework that captures both emissions compliance and emissions noncompliance dynamics of the ETS is the most accurate to modeling carbon prices. We find that speculation is a good predictor of carbon prices. We find that both emission compliance and emission non-compliance dynamics of the carbon market matter for the emissions reduction effect of the ETS and for enhancing the accuracy of climate change forecasts. Research Contribution – The literature on emission trading has continued to ignore the speculative behavior of the emissions non-compliance firms in the ETS. As a result, we construct a composite news-based speculation index to simultaneously capture the emissions compliance and emissions non-compliance dynamics of the ETS in a single framework. We provide the literature with a data-driven framework upon which the predictive power of speculation is examined both in the predictability of carbon pricing and in the forecast of emission reductions.
The impact of COVID-19 on the South African stock market: a sectoral-level analysis.
(2024) Ramterath , Akshay Saish.; Peerbhai , Faeezah.
The novel 2019 Coronavirus (COVID-19) quickly spread all over the world. It dramatically affected the financial markets in almost every country, creating substantial uncertainty permeating every aspect of life and business. Investors and markets are facing a high degree of volatility regarding the physical and financial impacts of the virus. Behavioural Finance studies are steadily emerging, highlighting the impact of investors' emotions on their investment decisions in stock markets during macroeconomic events. Existing research of the pandemics impact on volatility and/or stock returns have predominantly focused on the overall performance of the South African stock market with limited evidence on the industry specific impact. This study therefore aims to analyse the impact of COVID-19 on the 8 largest industry sectors of the Johannesburg Stock Exchange (JSE). In particular, the study attempts to evaluate the impact of COVID-19 on industry performance, stock returns, trading volume, stock volatility and COVID-related investor sentiment. These research objectives are analysed using a variety of different methodologies, such as an event study, and GARCH (1,1) model. With existing global studies indicating a rise in the importance of industry specific factors which aid in the pricing of equities, a study of this sort is imperative to the South African investor. The sample in this study consists of daily data from the 8 largest sectors on the JSE and spans the period 1 January 2017 – 30 August 2022. The selected period ensured to include stock market performance before the COVID-19 outbreak, allowing a more accurate comparison of industry performance. The results of this study suggest that the COVID-19 pandemic had a significant impact on all sectors of the JSE included in this paper, both in the short-term and long-term. Some sectors gained from the impact of the pandemic and others suffered - with the number of the sectors negatively impacted outweighing the number of sectors positively impacted. Furthermore, the findings of this study suggest significant implications for investors and policymakers. For investors, it is suggested that they be cognisant of how industry sector idiosyncrasies affect company performance during crises. Investors who seek a healthy return on their investment should avoid investing in sectors that are more vulnerable in times of crisis and negatively impacted by the COVID-19 pandemic. However, risk-seeking investors may opt to invest in higher-risk sectors since these stocks may generate higher returns due to an increased market risk premium. For policymakers, the findings of this study indicate that the implementation of strict lockdowns in times of crisis be carefully implemented as many sectors were not able to recover from the implications brought on by this policy, crippling further operation of many companies. Regulators should be cautious of the effect of such policies on industries and the economy as a whole. Policymakers must customise such policies based on the characteristics or nature of each market sector.