Research Articles (University of Stellenbosch Business School)

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    Understanding the nexus between savings and economic growth: A South African context
    (Taylor & Francis Group, 2021-05-28) Van Wyka, Bianca Flavia; Kapingura, Forget Mingiri
    The study examines the relationship between savings and economic growth in South Africa for the period 1986–2018. The Johansen cointegration technique and the Vector Error Correction Model were employed as methods of analysis. The findings from the study indicate that the effect of savings on economic growth in South Africa is negative . However, a positive relationship between the two variables was established in the short-run. Granger causality tests were also utilised to determine the direction of causality between savings and economic growth. The results revealed that the relationship runs from economic growth to gross domestic savings. Another important observation from the study is the role of investment which was found to have a positive effect on economic growth. This result also supports the idea of promoting investment if the country is to achieve sustainable economic growth.
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    Towards a definition for branded entertainment: An exploratory study
    (Taylor & Francis, 2019-07-22) Van Loggerenberg, Marthinus JC; Enslin, Carla; Terblanche-Smit, Marlize
    Branded entertainment seemingly holds varied meanings. This is of concern as the discipline is growing in importance as a means to disrupt conventional brand communication practice. One can compare this problem to an industry that for argument’s sake does not understand or agree on the fundamental principles of advertising or public relations, resulting in ineffective communication efforts. The lack of a cohesive understanding and application of branded entertainment erodes its core value, which is to breakthrough clutter and connect with audiences through authentic narrative; thus, the potential for branded entertainment to achieve resonance is depleted. Brand resonance builds brands strategically. This exploratory study engaged the perceptions of globally recognized brand communication decision makers across six continents on defining branded entertainment. We conducted interviews with planners and creators of award-winning branded entertainment campaigns that were recognized by multiple Grand Prix and Gold wins at the world’s most respected advertising award shows. The research delivers a proposed definition: Branded entertainment is a communication effort that employs a compelling authentic narrative to achieve brand resonance. This definition can guide academics and practitioners on branded entertainment practice for strategic brand-building success.
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    Financial development and economic growth in sub-Saharan Africa: A sectoral perspective
    (Taylor & Francis Group, 2021-06-07) Ustarz, Yazidu; Fanta, Ashenafi Beyene
    Research on the impact of financial development on economic growth remains inconclusive. Previous empirical examination of the link is based on aggregate GDP on the presumption that each economic sector responds identically to financial development. However, the extent of credit utilisation, as well as productivity of credit, may not necessarily remain the same across sectors. This study therefore seeks to contribute to the literature by examining the effect of financial development across sectors in sub-Saharan Africa using the Generalised Method of Moments (GMM) over the period 1990–2018. Indeed, the findings show that while financial development has a positive effect on the service and agricultural sectors, a certain threshold of financial development must be reached before it can positively contribute to the growth of the industrial sector. The findings are robust to a different estimation technique. With the industrial sector considered critical for economic transformation, our findings imply that policymakers in sub- Saharan Africa need to continue to promote financial development to spur industrialization.
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    Over-indebtedness of microfinance borrowers in South Africa
    (2019-12) Mjuza, Nomthandazo; Ntsalaze, Lungile
    Abstract Access to financial services has grown rapidly in South Africa, especially in the low-income population segment. At the same time, however, the level of over-indebtedness has increased, making poor households even more vulnerable. Employing a binary choice logistic regression model for a unique set of cross-sectional data from the 2015 FinScope survey, this study investigates the determinants of over-indebtedness among low-income earners and examines the probability of over-indebtedness given borrower demographic factors. Four of these require highlighting. First, in direct contrast to Milton Friedman’s life cycle permanent income hypothesis that people borrow, namely to smooth current expenditure with an expectation of a more substantial income stream in the future, thus younger age groups are expected to be indebted, the findings indicate that those older than 60 years are more likely to be over-indebted. Second, province is significant in predicting over-indebtedness, suggesting that there are specific regional features that could increase or decrease the risk of over-indebtedness. Third, the level of education is significant in mitigating the risk of over-indebtedness. Finally, using Schicks’s definition of over-indebtedness, the study also found that 13.05% of micro-borrowers are over-indebted in South Africa. These results suggest the need to consider revisiting social policy in South Africa on questions about public education, social protection, and public policy interventions to support the elderly.
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    Towards understanding the initial adoption of online retail stores in a low internet penetration context : an exploratory work in Ghana
    (MDPI, 2020-01-23) Jibril, Abdul Bashiru; Kwarteng, Michael Adu; Pilik, Michal; Botha, Elsamari; Osakwe, Christian Nedu
    ENGLISH ABSTRACT: Online shopping has become increasingly popular in the past two decades. Yet, despite its popularity, the use of online stores on the African continent pales in comparison to other parts of the world. Moreover, in many economic contexts in Africa and including Ghana, there has been very limited research on the subject of online adoption and in particular, the fundamental factors that can influence its initial adoption, especially among young and relatively educated consumers who constitute the largest demographic group there. We, therefore, make a determined e ort to fill this growing knowledge gap by exploring some fundamental factors associated to shop online by young and educated consumers. This exploratory research draws on the stimulus-organism-response (SOR) framework and focuses on five variables of interest namely perceived ease of use, government support infrastructure, and economic considerations about pricing, perceived convenience and use intentions of online retail stores. Evidence collected from 294 research participants provides support for our research propositions Finally, our research contributions and future study directions are considered in the concluding part of the paper.