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Background: An improved understanding of the reasoning behind model decisions can enhance the use of machine learning (ML) models in credit scoring. Although ML models are widely regarded as highly accurate, the use of these models in settings that require explanation of model decisions has been limited because of the lack of transparency. Especially in the banking sector, model risk frameworks frequently require a significant level of model interpretability. Aim: The aim of the article is to evaluate traditional model risk frameworks to determine their appropriateness when validating ML models in credit scoring and enhance the use of ML models in regulated environments by introducing a ML interpretability technique in model validation frameworks. Setting: The research considers model risk frameworks and regulatory guidelines from various international institutions. Method: The research is qualitative in nature and shows how through integrating traditional and non-traditional model risk frameworks, the practitioner can leverage trusted techniques and extend traditional frameworks to address key principles such as transparency. Results: The article proposes a model risk framework that utilises Shapley values to improve the explainability of ML models in credit scoring. Practical validation tests are proposed to enable transparency of model input variables in the validation process of ML models. Conclusion: Our results show that one can formulate a comprehensive validation process by integrating traditional and non-traditional frameworks. Contribution: This study contributes to existing model risk literature by proposing a new model validation framework that utilises Shapley values to explain ML model predictions in credit scoring.

Background: In pursuit of greater equality, African nations have implemented land reforms to increase land ownership among indigenous citizens. Despite these efforts, Africa remains one of the world’s most unequal regions. Aim: In line with the sustainable developmental goals (SDGs) 10 of the Equal World campaign, the study investigates how land ownership influences income inequality in African countries. We create a unique time series measuring landholders per square kilometre of agricultural land and explore its relationship with income inequality. Setting: The analysis covered the period of 2000–2020, using data from the World Bank gender data portal and World Bank Development Indicators to compute the land inequality index. Method: Conventional cointegration and advanced wavelet coherence techniques are employed to examine the influence of land ownership on inequality. Results: Traditional estimators reveal a long-run positive relationship between land ownership and income inequality, with bi-directional causality, implying that African countries with higher (lower) land concentration are associated with higher (lower) levels of inequality. However, wavelet coherence analysis reveals that only 8 countries exhibit a positive relationship, while 16 show a negative relationship, and 2 show an insignificant relationship. Notably, most countries with a negative (positive) relationship (did not) implement additional land reforms after 2000. Conclusion: We conclude that countries that fail to undergo continuous adjustments in land reforms risk experiencing a higher concentration of land ownership and income inequality. This study’s findings underscore the importance of land policy updates for long-term equity. Contribution: Unlike previous studies using the Gini Land coefficient, this study measure agricultural landowners per square kilometre, capturing the entire population and its relationship with income inequality.

Background: The ownership structure can impact capital structure decisions as owners are an influential group that govern the financial decisions of firms. Hence, the ownership structure and the categories of its owners have important implications for the capital structure of firms. Aim: This study investigates the linear and non-linear effects of different ownership types (managerial, foreign, institutional, government, and family) on the debt ratios of firms. Setting: This study includes 267 non-financial firms listed on the Johannesburg Stock Exchange (JSE) from 2004 to 2021, accounting for fluctuation in listings during this period. Method: The fixed effects model is used to estimate the impact of ownership structure on capital structure, while the Sasabuchi-Lind-Mehlum test evaluates non-linearity. Additionally, the Durbin-Wu-Hausman test is employed to detect whether endogeneity is present in this study. Results: The findings indicate that government ownership has a positive linear relation with the total debt and long-term debt ratio, while a non-linear inverse U-shaped relationship is found between institutional ownership and long-term debt, with an optimal level of 34.3%. Conclusion: The study concludes that the ownership structure is an important factor driving capital structure decisions, with government and institutional ownership directly impacting the debt ratios of firms. Contribution: This article expands the limited knowledge of the impact of ownership structure on capital structure and is the first to explore non-linear effects in the South African context. The findings offer valuable insights for boards and management that may aid them in strategically configuring ownership structures that optimise their capital structures.

Background: Credit rating agencies (CRA) played a key role in the global financial crises of 2007/2008 which led to the introduction of CRA regulation. Aim: Using Giddens’ theory of modernity as a framework, this article analyses experts’ perceptions of the implementation of the CRA regulation in South Africa. Setting: This article focussed on experts’ perceptions of CRA regulation in South Africa. Method: This qualitative article was conducted using detailed interviews with South African experts in the investing and credit rating industries. Interviews were conducted in 2013 and 2023. An interpretive approach was adopted to analyse the data into themes, providing insight into the perceptions relating to the introduction of CRA regulation in South Africa. Results: While the introduction of CRA regulation in South Africa is a mechanism used to legitimise the capital system and encourage foreign investment, its applicability, considering the size of the country’s CRA market, is contentious. Credit rating agencies’ current business model is prone to conflicts of interest and no viable alternatives are available. Consequently, investors need to exercise judgement over their investment decisions instead of outsourcing their due diligence requirements to CRA without careful consideration. Conclusion: Credit rating agencies’ regulation in South Africa has further cemented CRA’s position in financial markets in line with global trends in this industry. Contribution: This article will allow policymakers, market participants and researchers to understand the perceptions of the CRA regulation in South Africa from a social constructivist perspective.

Background: As nations globally strive to meet the United Nations Sustainable Development Goal (SDG) 10, which underscores the reduction of inequality, there is an increasing need to harness the power of education and information and communications technology (ICT) to achieve this aim. Therefore, this study is motivated by this rationale. Aim: The synergistic effect of government spending on education and ICT on income inequality in sub-Saharan Africa (SSA) in the long run. Setting: Panel data for 30 SSA countries from 1990 to 2022 are used. Method: This research used the Fully Modified Ordinary Least Square (FMOLS) technique, which provides long-run estimates, to achieve the aim of the article. Results: The FMOLS results reveal that public education expenditure increases income inequality while its squared expenditure reduces it in the long run. However, over time, ICT diminishes inequality. Notably, the combined effect of public education spending and ICT strengthens the effect of public education expenditure on income inequality in SSA in the long term. Conclusion: In summary, with the incorporation of additional control variables in the analyses, it suggests that SSA’s governments, along with policymakers, have the opportunity to achieve income inequality reduction by strategically making use of public education spending and ICT. Contribution: This article adds significant value to the literature by demonstrating the effect of public education spending and ICT on income inequality in SSA (characterised by higher level of income inequality). To mitigate concerns regarding endogeneity, this article uses FMOLS.

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No abstract available.

Background: Systemic risk studies in the coronavirus disease 2019 (COVID-19) period focus mostly on the banking sector. Regulators however, yearn for data on the contribution of shadow banking to systemic risk during the pandemic. Aim: The primary goal of the study is to determine the contribution of shadow banking to systemic risk during the COVID-19 period in South Africa. Setting: The study focussed on shadow banking, non-bank financial institutions involved in credit intermediation outside the traditional banking system in South Africa. Method: Systemic risk is measured by conditional value-at-risk methodology using monthly market returns of fixed-income funds, funds-of-funds, money market funds and multi-asset funds from January 2015 to December 2021. Results: Shadow banking contributed to systemic risk during COVID-19, and systemic risk reached an all-time high during the onset of the pandemic. Money market funds exhibited higher systemic risk because of the COVID-19 shock. However, multi-asset funds and funds-of-funds are the classes that contributed more to systemic risk during the COVID-19 period. Furthermore, systemic risk trends of multi-asset funds and funds-of-funds increased with the rise in COVID-19 infections, except in the third wave when systemic risk peaked months after the surge in COVID-19 cases. Conclusion: Shadow banking contributes to systemic risk in South Africa and systemic risk peaked during the COVID-19 period. Contribution: There is growing evidence on systemic risk during COVID-19, and this study extends the focus to shadow banking. It draws attention of regulators to credit intermediation outside traditional banks.

Background: This research focusses on the significance of institutional quality (INSQ) and governance in shaping the relationship between foreign direct investments (FDI) and growth. It specifically examines the BRICS nations (Brazil, Russia, India, China and South Africa) because of their economic significance in the global economy. Aim: This study aims to analyse the impact of INSQ and governance on sustainable growth, with a particular focus on its effects through the channels of FDI in the BRICS countries. Setting: Annual panel data from the Organisation for Economic Cooperation and Development (OECD) statistics, the United Nations Conference on Trade and Development (UNCTAD) statistics and the World Bank indicators spanning two decades (2000–2022) are used to analyse BRICS nations. Methods: The research study employed the Bayesian time-varying coefficient vector autoregression (BTVC-VAR) model to achieve the objective of the study. Results: The findings indicate that there is no long-term relationship between FDI, INSQ and economic growth in the BRICS countries. However, there is a noticeable co-movement among these variables in the short run. Conclusion: Given the obtained results, the policymakers should prioritise efforts to strengthen institutional capacity in the short term while focussing on the Sustainable Development Goals (SDG-8 and SDG-16). Contribution: The existing studies have assumed static economic, social and political conditions, potentially failing to accurately depict the complexities of an actual economy. This study offers methodological innovation by employing Bayesian time-varying coefficient vector autoregression (BTVC-VAR), enabling coefficients to adapt to evolving economic conditions over time. This effectively captures the dynamic nature of variables and provides reliable estimates.

Background: Many retirees in South Africa face the challenge of either outliving their retirement savings or living below their means. Studies suggest a ‘safe’ withdrawal rate of between 4% and 5%, which is below the average fund size-weighted drawdown rate of approximately 6.66%. Aim: To provide a scientific basis for the success rate of a ‘hybrid’ retirement strategy, whereby a retiree invests a proportion of their savings in a life annuity and the remaining proportion in a living annuity, to increase the success rate for South African retirees. Setting: Historical asset class returns (equities, bonds and inflation) for South Africa were sourced for the period 1900–2020. Method: Bootstrap sampling of historical asset returns was employed to simulate 10 000 random scenarios to investigate the success rate of various compositions of the ‘hybrid’ retirement strategy. Results: The success rate of all ‘hybrid’ portfolio compositions is significantly greater than the success rate of a pure living annuity when the withdrawal rate is less than 8%. Conclusion: In a South African context, a ‘hybrid’ retirement portfolio increases the probability of success for retirees withdrawing less than 8% from their portfolio – which constitutes approximately 50% of the current annuatised population – and may increase the inheritance of a retiree’s heir. Contribution: Where other studies have focussed solely on the success rate of a living annuity, we have shown that a ‘hybrid’ retirement strategy increases a South African retiree’s likelihood of retiring successfully when the withdrawal rate is less than 8%, which is approximately 50% of the annuatised population.

Background: Countries in the Southern African Development Community (SADC) region have experienced low growth coupled with high levels of poverty and inequality. Economic growth has been touted as one of the major factors to deal with these problems. However, the lack of financial resources has hampered the efforts to achieve high levels of growth. This has therefore resulted in the countries putting much effort on attracting foreign capital. Aim: The study aims to investigate the extent to which financial development (FSD), financial openness, and institutional quality determine the inflow of foreign direct investment (FDI) in the SADC region. Setting: The study focuses on 15 countries in the SADC region from 2008 to 2022. Method: The study employs the Generalised Method of Moments (GMM) technique given the problem of endogeneity between the variables of interest. Results: The findings from the study indicate that FSD and financial openness are important factors determining the flow of FDI to the SADC region. On the other hand, the effect of institutions was found to be significant when taking into account the state of FSD and financial openness. Conclusion: Policymakers are encouraged to focus on enhancing institutional frameworks, promoting FSD, and increasing financial openness to optimise capital inflows. Contribution: The study contributes to the available studies by incorporating the role that is played by institutional quality and financial openness to the modelling. This becomes important as the region aims at attracting more foreign capital so as to improve growth as domestic capital supply falls short of domestic capital demand.

Background: South African tax practitioners fulfil a worthwhile advisory role and have unique insights into and emotional responses to the challenges faced by small business owners (SBOs) regarding value-added tax (VAT). Aim: The study aims to understand the insights of tax practitioners around the challenges encountered by SBOs regarding VAT compliance. Setting: A combination of face-to-face and online interviews took place with tax practitioners who service SBOs situated in the Gauteng province of South Africa. Method: The study employed a qualitative research methodology and an interpretivism paradigm. Twenty-two semi-structured interviews were conducted with tax practitioners to gather their insights regarding challenges encountered by SBOs regarding VAT compliance. Results: Tax practitioners generally argue that SBOs struggle with compliance challenges. There is a lack of understanding regarding the basic principles of the concept of agency for VAT purposes. Operational needs often impel the SBOs to utilise the VAT monies for ongoing business concerns. Accounting for VAT on an invoice basis is difficult for SBOs. Also, at the compulsory VAT registration threshold of R1 million, the SBOs are not ready to handle the VAT compliance burden yet. Lastly, there are negative attitudes towards VAT powered by the view that VAT encompasses constant outflows of cash. Conclusion: Tax practitioners have important, yet complicated, interlocutor roles in ensuring VAT compliance. There needs to be a collaborative effort from all relevant role players to improve the day-to-day lived experiences regarding VAT compliance of SBOs. Contribution: The study’s philosophy adds differentiated dimensions around the key challenges facing SBOs regarding VAT compliance with a view towards alleviating these obstacles.

Background: The adoption of artificial intelligence (AI) in manufacturing has the potential to considerably improve productivity, efficiency and sustainability. Artificial intelligence aids with tasks such as data processing and process monitoring, process modelling and optimisation, live fault detection, and process quality assessment in manufacturing processes. Aim: This study sought to obtain a full understanding of the influence of AI on the South African manufacturing industry by exploring how AI technology is impacting productivity, reshaping the workforce, affecting quality control practices and optimising supply chain management among other issues. Setting: Data in this study were obtained from 23 qualitative research publications that address the influence of AI on the manufacturing industry in South Africa published on ScienceDirect, Scopus, Springer, Web of Science and Google Scholar. Method: Multiple correspondence analysis was utilised to analyse associations among quality, productivity, supply chain and workforce transformation in the presence of AI in the South African manufacturing industry. Results: The findings demonstrate a substantial association between the usage of AI and a range of performance measures, suggesting that those organisations embracing AI technology can benefit from greater productivity, quality control and supply chain management. Additionally, findings emphasised the necessity of workforce transformation because of AI adoption. Conclusion: The adoption of AI technology positively influenced the South African manufacturing industry, contributing to increased productivity and quality, and optimising the supply chain. Contribution: This study makes a valuable contribution to the existing body of knowledge as AI adoption in the manufacturing industry in developing countries is only emerging.

Background: The South African pharmaceutical sector is Africa’s largest and most advanced but heavily depends on imported products and active pharmaceutical ingredients to meet its demands. The status quo is due to low intra-industry trade, which is necessary to induce innovation and technological progress essential for accelerating local production, export growth and reducing dependence on imports. Aim: The primary objective of this article was to examine intra-industry trade in South Africa’s pharmaceutical sector and subsequently, total factor productivity (TFP) as a key driver of intra-industry trade. Setting: Intra-industry trade was measured using data obtained from the United Nations Conference on Trade and Development databases, while the TFP was measured using data from the South African Reserve Bank (SARB) covering 2001–2021. Method: The marginal intra-industry trade index (MIIT) and unmatched changes in trade (UMCIT) were used to measure intra-industry trade, while the Malmquist total factor productivity (MTFP) index was used to analyse SARB data to determine TFP. Results: The MIIT index and UMCIT revealed that trade is predominantly inter-industry with episodes of industry specialisation and significant intra-industry changes. The MTFP results showed that TFP is solely driven by technical changes. Conclusion: The study recommends that South Africa should develop a coordinated and sustainable innovation system in the pharmaceutical sector. This will help prevent sporadic technological advancements and promote intra-industry trade. Contribution: The article contributes to the empirical literature on intra-industry trade in developing countries by showing the correlation between an improvement in TFP and an increase in intra-industry trade necessary to stimulate domestic production to reduce high import demand.

Background: The effectiveness of information sharing between municipalities and their stakeholders remains an important area for consideration in the improvement of supply chain performance. Aim: This article responds to municipal service delivery challenges in South Africa by testing a model for improving supply chain performance (SCP) through information sharing (IS) and stakeholder collaboration in municipalities. Setting: The setting includes two metropolitan municipalities in the Eastern Cape Province of South Africa. Method: The study employed a cross-sectional survey involving 370 supply chain role players. Hypothesised relationships were tested using structural equation modelling. Results: The results revealed that information sharing is positively associated with stakeholder trust, governance and administration and stakeholder relationship continuity. Stakeholder trust, governance and administration, and stakeholder relationship continuity are positively related to the fluency of stakeholder collaboration. Full mediation between the constructs was observed for all relationships tested in the study. Conclusion: The article demonstrates the application of information sharing through, stakeholder trust, governance and administration, and stakeholder relationship continuity in predicting supply chain performance in South African municipalities. The overall outcome of the study is that information sharing and stakeholder relationships are essential drivers of municipal supply chain performance. Contribution: The study contributes to supply chain management literature by providing insights into how municipalities can utilise information to improve stakeholder relationships and enhance service delivery performance. This study could unlock some keys to overcoming municipal service delivery challenges in South Africa.

Background: In today’s volatile and highly competitive business environment, the importance of knowledge capital and innovation management for multinational manufacturing firms has been widely recognised by both academia and industry. Aim: This article aims to explore the impact of transboundary investment and assimilative capacity on the association between knowledge capital and innovation management in this specific context. Setting: A total of 217 managers and employees were selected from 19 multinational manufacturing firms listed on the Ghana stock exchange to participate in the survey. Method: Using a theoretical-based association existing research model, data were collected through an online electronic questionnaire survey. The collected data were then analysed using path analysis, utilising SPSS 22.0 and AMOS 24.0 software to test the formulated hypotheses. Results: The study found that an organisation-wide unified system, technological, organisational resource and knowledge capital-enabling structures strongly influence multinational manufacturing firms. Besides, knowledge capital and innovation management have a positive mediating role and a significant impact on multinational manufacturing firms. However, there was no significant impact between knowledge of empirical capital and innovation management. Conclusion: The findings of this study highlight the importance of knowledge capital in enhancing innovation management and emphasise the role of transboundary investment and assimilative capacity in mediating this relationship. Contribution: This research contributes to the theoretical understanding of how knowledge capital and innovation management are interconnected, as well as the relationship between transboundary investment and assimilative capacity, and their respective roles in mediating this relationship.

Background: The financial accounting profession faces several challenges in the 21st century. Research is needed to prepare financial accountants for these challenges. Aim: This study aimed to determine which 21st-century competencies were essential for financial accounting students in South Africa from the perspectives of students, their educators and professionals and to investigate the capabilities of these three stakeholder groups. Setting: Stakeholders in financial accounting (students, their educators and professionals) across institutions and organisations in South Africa. Methods: A quantitative method and cross-sectional survey were used. Financial accounting students (N = 112), lecturers (N = 12) and professionals (N = 42) completed the 21st Century Universal Competencies Questionnaire and the Capability Set for Work Questionnaire. Results: The findings showed that thinking and learning to learn were the most critical 21st-century competencies for the financial accounting profession. Stakeholders differed regarding the second-highest ranked competencies: For professionals, it was working skills and entrepreneurship; for lecturers, it was information and communication technology and for students, it was self-care and managing everyday life. Cultural competencies and building a sustainable future were ranked lowest in all three stakeholder groups. Conclusion: Similarities and differences exist between stakeholder views of the importance of specific 21st-century competencies for financial accountancy. Financial accounting professionals and lecturers showed high capabilities, except for involvement in decision-making and earning a good income for lecturers. Contribution: This study offered a new perspective on the 21st-century competencies and capabilities as perceived by different stakeholders.

Background: Small, medium and micro retail enterprises (SMMEs) in South Africa are regarded as having a high failure rate. The reason behind the failure can be ascribed to a wide variety of issues. Stock shrinkage is one of the challenges contributing towards the failure of businesses particularly if not safeguarded. Aim: The study aimed to investigate the effects of stock shrinkage as a cause of physical stock loss on the financial performance of retail SMMEs in the City of Tshwane. Setting: The sample of the study was drawn from retail SMME owners, managers and owner-managers. Method: A quantitative research approach in the form of a questionnaire was adopted and a non-probability, convenience sampling method was employed. Regression analysis was conducted using IBM SPSS (version 27) to test the hypotheses. Results: Stock spoilage and internal theft are the strongest predictors of profitability and sales volume loss. Conclusion: It is concluded that stock shrinkage as a cause of physical stock loss relates to the financial performance of retail SMMEs. However, not all physical stock loss variables carry the same weight in terms of their contribution to retail financial losses. Contribution: The study contributes to retail SMMEs and stock shrinkage literature by identifying the causes of stock shrinkage as a result of physical stock loss. It further sheds light on high predictor variables of physical stock loss which can threaten the financial sustainability of businesses.

Background: Studies investigating the relationship between travel motivations and destination choice are often unidimensional and hierarchical, presenting limited perspectives on traveller groups with diverse socioeconomic backgrounds. Aim: This study investigates the variations in travel motives versus destination choices given different income bands. It presents a nuanced profile of income group members based on socio-demographic variables and travel experience. Setting: South African domestic tourism. Method: Threshold regression was applied to determine whether 13 motivations changed toward six destinations given specific income levels. Data from the 2019 South African Social Attitudes Survey (SASAS) were used and the weighted sample represented 42 573 093 South Africans. Results: The threshold regression materialised with between four to six breakpoints for most destinations. Fun dominated as a motive among lower income groups, as opposed to relationship building for higher income groups. Relaxation, as a known core travel motivation, did not lead to varied interest in specific destinations. Apart from motives, race and travel experience produced several significant differences. Conclusion: Income thresholds meaningfully explain variations in the relationship between travel motivations and destination choice. More effective marketing strategies should be built around travellers within overlooked markets. Contribution: The study provides novel empirical evidence that destination choice is non-linear and multifaceted. It applies threshold regression that has not been used in destination choice studies. Finer nuanced segments are identified and suggest an amendment to the travel career pattern (TCP) to accommodate developing and emergent travellers.

Background: The value and performance of underlying investments are the primary driver of value created by investment holding companies. In theory, the intrinsic net asset value of these companies should reflect the fair value of their ownership stakes in the underlying investments; however, most investment holding companies trade at a discount to the reported measure of intrinsic value per share. Aim: The aim of this study is to determine if corporate actions have reduced discounts to intrinsic net asset value among a sample of Johannesburg Securities Exchange (JSE)-listed holding companies. Setting: The study focused on a sample of JSE-listed investment holding companies. Method: The study was quantitative in nature, and an event study using multiple estimation models was used to determine the share price reaction to the corporate actions. Results: The results confirm the widening of a discount and indicate that corporate actions demonstrate no significant effect in reducing the discount to net asset value. Conclusion: The corporate actions in this study were not effective as a method to address discounts for holding companies. The persistent and widening discount reflects market perceptions. Demonstration of management’s ability to allocate capital and provide returns above the cost of capital is suggested as the only way to narrow the discount. Contribution: This study contributes to the existing JSE event study literature by focusing on investment holding companies and highlighting that the market perception of investment holding companies is reflected in the widening discount to intrinsic net asset value.

Background: This study focuses on diversifying fixed income attribution beyond yield and duration by identifying new risk premia applicable to various investment strategies. Aim: To identify cross-sectional bond risk factors in the South African sovereign bond market, capitalising on non-parallel shifts during high-risk macroeconomic events, developing a strategy to extract persistent alpha from higher order interest rate risks and disproving the strong efficient market hypothesis. Setting: This study finds that during high-risk macro events, non-parallel shifts increase in frequency. Empirical evidence suggests that post the 2008 financial crisis, there have been increased occurrences of risk-on/off events and researchers believe high risk macro events will increase in prominence. As such, most active US fixed income managers have reduced duration risk (from parallel shifts) in favour of alternative risk premia. Method: This study exploits slope and curvature risks, by utilising a butterfly strategy. Ten bond risk factors are back-tested and analysed during interest rate cycles, curve scenarios and risk-off periods from 1998 to 2023. Results: The top-ranked strategies displayed strong and persistent outperformance over the bottom-ranked strategies for most of the bond factors especially during risk-on episodes. The Bond All-Factor Rank demonstrated improved diversification by balancing upside and downside risks. Trade costs are an important factor that requires pragmatic management. Conclusion: Geopolitical risks are increasing in frequency and developing a strategy to exploit non-parallel risk premia is an attractive proposition. Contribution: This study identified new bond risk factors beyond the conventional spread factor to extract non-parallel risk premia.

Background: Chinese multinational enterprises (MNEs) are obsessed with implementing digital business strategy in global competition, but there is limited knowledge about how and when the MNEs can achieve performance. Aim: This study aims to clarify the influence of digital business strategy on MNEs’ performance in South Africa, and whether this impact is mediated by exploratory and exploitative learning and moderated by organisational memory level and dispersion. Setting: Senior executives from the MNEs participated in the year-long survey. Before the survey, the participants were communicated and agreed, and the survey was completed by email. Method: Two-stage data from 314 MNEs in South Africa were obtained. Hierarchical regression analysis and Hayes Process Macros were used. Results: The results show that digital business strategy positively influenced performance, and the relationship was mediated by exploratory and exploitative learning. Organisational memory level and dispersion had an inverted U-shaped moderating effect on the relationship between digital business strategy and exploratory and exploitative learning. Conclusion: This study provides the first insight into the relationship between digital business strategy and MNEs’ performance in South Africa. It reveals the mediating mechanism and boundary conditions of this relationship, making an important contribution to the literature concerning digital business strategy. Contribution: This study encourages MNEs in South Africa to implement digital business strategies according to local conditions. What’s more, exploratory and exploitative learning is a strategic process that cannot be ignored, and moderate organisational memory can help these MNEs benefit from digital business strategy better.

Background: The participation of female labour is essential for promoting industrialisation. North African economies are plagued by low levels of female labour force participation (FLP) and high gender inequality gaps. Low levels of FLP are detrimental to the attainment of the Sustainable Development Goals, such as gender equality, decent work, and economic growth, as well as reduced inequalities. Aim: This research aimed to establish the determinants of FLP in North Africa. Setting: North Africa. Method: The research adopted the Panel Auto Regressive Distributed Lag. Data were sourced from the World Bank for the period 1991–2021. Results: The empirical findings showed that the lack of gender-sensitive policies, limited investment in education and institutional barriers limit the capacity of women to participate in the labour market. Primary research findings depicted that the Human Development Index (HDI), fertility rate and life expectancy had a positive impact on FLP in the long run. Economic growth had a positive effect on FLP in the short run. Conclusion: It was concluded that North African governments need to develop policies that advance the interests of women, as well as the implementation of women empowerment programmes. Contribution: The findings of the study imply that addressing FLP requires collaborative efforts from the governments and other stakeholders and this helps in reducing gender inequality.

Background: Limited research has been conducted in South Africa’s multi-level marketing (MLM) sector, particularly pertaining to distributor satisfaction and its influencing factors. Aim: This study aims to determine the extent to which trust mediates the relationship between distributor satisfaction and loyalty within the MLM framework in South Africa. Setting: This study was conducted among distributors within the South African multi-level marketing environment. Method: This study adopted a descriptive research design. A total of 376 distributors from health and wellness sectors, focused on MLM companies in South Africa. They were selected through non-probability convenience sampling. Confirmatory factor analysis (CFA) was employed to validate the data’s reliability, while structural equation modelling (SEM) was utilised to examine both the direct and indirect effects postulated in the study. Results: The analysis revealed a notable indirect positive effect, linking distributor satisfaction to distributor loyalty, with trust acting as a mediating variable. Additionally, direct positive correlations were identified between distributor satisfaction and loyalty and between distributor trust and loyalty. Conclusion: For health and wellness MLM companies in South Africa, it is vital to enhance distributor loyalty and trust. This can be accomplished by increasing distributor satisfaction and refining the way they communicate business opportunities. Contribution: Multi-level marketing can benefit from the findings of the research as this improves insight into the direct and indirect effects of distributor satisfaction on distributor loyalty and trust and provides empirical insights into the MLM industry.

Background: Globally professional accounting bodies expect of higher education institutions to develop integrated thinking skills in prospective chartered accountants. There are, however, many barriers in the way of both lecturers and students to achieve the development of integrated thinking skills. Aim: This article sought to identify the most significant barriers lecturers and students face when developing integrated thinking skills in prospective chartered accountants during higher education. Setting: Interviews were conducted and an online questionnaire ministered. Method: The mixed-method approach and a pragmatist paradigm are utilised. Both questionnaires and interviews were used to collect primary data. A triangulation between the quantitative data, qualitative data, and literature had been performed. Results: The three most significant barriers that lecturers face in developing integrated thinking skills are the volume of technical content, lack of expertise, and large classroom sizes. The three most significant barriers that students face in developing integrated thinking skills are students being overburdened with the technical content of the syllabus, not having been exposed to integrated thinking prior to higher education, and having to study in a second language. Conclusion: The most significant barriers for both lecturers and students in the development of integrated thinking skills during the higher education of prospective chartered accountants are identified in this study. Contribution: While much has been published on the barriers to developing integrated thinking skills, a limited amount of literature addresses the specific barriers that exist in the accounting education field.

Background: Environmental, social and governance (ESG) factors have become topical in recent years because of climate change existential threat to humanity. There is, however, a limited understanding of how the firm’s ESG efforts affect firm outcomes. Aim: The aim of this study was to investigate the relationship between firm’s ESG indicators and the financial performance. Setting: The sample is drawn from Johannesburg Stock Exchange (JSE) listed companies based on data availability. South Africa is not only plagued by social ills and governance failures, but it is also one of the world’s largest emitters of greenhouse gases, making it an ideal laboratory for studying the ESG and firm performance nexus. Method: We utilized a dataset spanning the years 2012–2022, covering 67 JSE-listed firms. These panel data were analyzed using the two-step system generalised method of moments (GMM). Results: We found that the disaggregated ESG indexes have a positive, albeit insignificant impact on the financial performance. These findings hold even when financial and non-financial firms are examined separately. Conclusion: Policymakers, including standard setters and regulators, should encourage firms to be sincere on ESG efforts and avoid greenwashing. Contribution: The study employs a relatively robust estimation technique (two-step system GMM) over a relatively long period (2012–2012). Furthermore, the sectoral analysis of financial and non-financial firms adds to the body of literature and policy development.

Background: Traditional budgeting has faced criticism, leading researchers to explore alternative management control methods such as Beyond Budgeting. Despite its potential benefits, Beyond Budgeting adoption remains limited. Aim: This research investigates Beyond Budgeting’s effect on Iraqi small- and medium-sized enterprise (SME) performance, focusing on competitive advantage. Setting: The study targets Iraqi SMEs, considering their diverse business landscape. A random sample of 353 accountants was chosen from a research community of 22 974 individuals. SPSS and AMOS 26 software and a custom questionnaire were used. Method: The authors conducted multiple linear regression analysis and Structural Equation Modeling to address our study’s objectives. Additionally, we utilised maximum likelihood procedures to assess factor loadings, construct validity and reliability. Results: Beyond Budgeting implementation significantly affected both financial and nonfinancial performance. It demonstrated positive effects on cost leadership and competitive advantage differentiation. However, an indirect negative impact on nonfinancial performance was observed through the influence on cost leadership, suggesting a trade-off between cost reduction and other nonfinancial factors. Conclusion: The study acknowledges limitations in sample size and the need for considering additional factors. Further research is required to understand Beyond Budgeting’s limited adoption in Iraq. The study contributes valuable insights on Beyond Budgeting as a substitute for traditional approaches, benefiting managers and policymakers. Contribution: This study emphasises Beyond Budgeting’s significant impact on Iraqi SME performance, highlighting the relationship between Beyond Budgeting, competitive advantage strategies, financial and nonfinancial performance. The findings provide insights for enhancing budgeting practices in Iraqi SMEs.

Background: Bottom-of-the-pyramid (BOP) consumers’ significant discretionary purchases of non-essential products, such as apparel, contribute to retail growth. In a turbulent retail environment, store atmospherics presents an innovative cost-effective solution to incorporate BOP consumers’ unique motivations for desired apparel behavioural intentions to grow market share. Aim: This study aims to fill the knowledge gap regarding a systematic review of store atmospherics on urban BOP consumers’ apparel behavioural intentions in an emerging African market. This study also proposes various purchase antecedents to attitudes, which drive apparel behavioural intentions. The moderation effect of age is investigated to understand the change in purchase antecedents related to attitudes among different urban BOP age groups. Setting: Interviewer-administered surveys was conducted among urban BOP consumers in Namibia’s main urban areas. Method: A sample of 881 respondents was selected by purposive, interlocking and convenience sampling methods. Covariance-based structural equation modelling (SEM) confirmed the significant relationships between all constructs in the proposed model. Results: The systematic link between store atmospherics and urban BOP apparel behavioural intentions is primarily because of consumers’ perceived value, trust and attitudes. Urban BOP consumers’ perceived value, anticipatory emotions and attitudes are moderated by age. Conclusion: Overall, this study sheds light on the differences between young and old urban BOP consumers and how they differ or coincide with age groups in more affluent segments. In order to adequately segment the urban BOP market, apparel retailers should emphasise on affordability, quality, emotional goal attainment and trust in their store atmospherics. Contribution: In the broad context of store atmospherics, this study specifically uses age categories as a lens to provide valuable insights concerning age differences in urban bottom-of-the-pyramid consumers’ perception of store atmospherics which influences their apparel behavioural intentions. Further, this study solidifies that different age categories amongst urban bottom-of-the-pyramid consumers bring forth different behavioural intentions to which marketers should adapt their store atmospheric strategies.

Background: The problem addressed in the study reported on in this article is the decline of South Africa’s foundry industry. This industry is valuable in terms of job creation and a sustainable competitive advantage (SCA) strategy is required to sustain the industry in South Africa. Aim: With the dearth of research on sustainability of the foundry industry, the research comprised three objectives; namely, to identify from literature the macroeconomic drivers, to empirically identify critical macroeconomic drivers, and to make recommendations on strategies for enhancing SCA for foundries in South Africa. Setting: The study was conducted during 2022 within the foundry industry in South Africa. Foundry representatives from foundries located in all nine provinces of South Africa were invited to participate in the study. Method: The study adopted an explanatory sequential mixed-methods methodology, initially employing a quantitative approach, and subsequently applying a qualitative approach to ascertain the most influential macroeconomic drivers. Quantitative data analysis entailed descriptive methods, while the qualitative phase involved thematic analysis. Conclusion: The study contributes by identifying the macroeconomic drivers that can be used by industry leaders in the formulation of strategies for SCA within the African context. Contribution: The study contributes by identifying the macroeconomic drivers that can be used by industry leaders in the formulation of strategies for SCA.

Background: The scourge of malnutrition in Africa is a significant obstacle to children’s education, impeding their learning ability and perpetuating poor health. Aim: In line with Millennium Development Goals (MDG) 1 and 2 and Sustainable Development Goals (SDG) 1 and 4 objectives, the study examined the impact of malnutrition on education inequality before and during development goals, in some selected African countries, based on data availability. Setting: The analysis covered the period of 1998–2020 and the data for the study were sourced from the United Nations International Children’s Emergency Fund (UNICEF), World Health Organization (WHO), and World Bank Online Data Base among other sources. Method: The authors employ a continuous wavelet coherence analytical tool that considers time–frequency variations in the co-movement to examine the correlation between the series in 28 African countries from 1998 to 2020. Results: Results revealed a positive high-to-low-frequency co-movement between the two series, with malnutrition causing educational inequality from 1998 to 2010, and yet disappearing in subsequent periods. All in all, our findings indicate that malnutrition had a positive effect on educational inequality until the year 2010. Conclusion: The authors conclude that high malnutrition rates impeded educational equality in numerous African countries during the 1990s and 2000s. However, efforts to eradicate hunger, policy intervention in education, and other factors may have altered this narrative in the post-2010 era. Contribution: While previous African studies focused on child growth, the gender gap in education, and the incidence of poverty, completely neglecting the malnutrition variables, in this study a more profound understanding of education inequality in Africa is provided and the correlation between malnutrition and education inequality is considered which was not covered by previous authors.

Background: This study investigates market reactions to the appointment of women and men as directors on the top 40 Johannesburg Stock Exchange (JSE)-listed company boards. Both the social and business rationale for the appointment of women is contextualised to evaluate the potential bias towards their appointment as directors. This research contributes to the literature by concurrently analysing both genders. Aim: The primary objective of the study was to assess market reactions to the new appointment of women and men as directors of the top 40 JSE-listed companies using an event study. Setting: This study focussed on companies from the top 40 JSE-listed companies’ index. The period analysed was from the year 2015 to 2019. Method: The event study methodology was used to analyse announcements of 17 women and 29 men as directors from companies across 12 sectors of the top 40 JSE-listed companies. Results: The study identified a significant negative market reaction to the appointment of women as directors, potentially because of gender bias. The appointment of men as directors was met with positive market reactions, though the results were statistically insignificant. The results align with prior studies that gender bias may impact the negative reaction towards the appointment of women. Conclusion: The study suggests gender is relevant to shareholders because of different market reactions. Companies should not disregard the benefits of board diversity despite negative reactions in the short term. Contribution: This study informs boards of possible market reactions to gender diversity efforts. It emphasises the economic and ethical benefits and necessitates stakeholder engagement.

Background: Gains in improving bank efficiency have widely been regarded as one of the most effective means of ensuring sustainability in a financial system. Aim: It is proposed in this article to measure monetary policy impulses and the dynamic panel data model to examine the linear relationship. Setting: The nexus between financial structure and monetary policy impulses is analysed, considering 21 sub-Saharan African (SSA) nations during the time period from 2011 to 2022. Method: The Vector Autoregressive (VAR) analysis is employed to measure monetary policy impulses and the dynamic panel data model to examine the linear relationship. Results: A significant positive association between competition in the banking system and monetary policy impulses was found. Monetary policy impulses are inversely and significantly related to financial development. Also, the size of the central bank has a significant positive influence on the effectiveness of monetary policy. Conclusion: The financial structure has a significant role to play in the monetary transmission mechanism and credit markets help propagate and amplify shocks to the macro-economy. Contribution: The relationship between financial structure and monetary policy is not a one-way street as these variables tend to influence one another. Empirical literature on the subject is not very recent and come to differing conclusions, hence the rationale for conducting this article in SSA, employing both the structural VAR model and the dynamic panel data model.

Background: This article considers the impact of the production and consumption of alcohol on the economy of South Africa and on South Africa at large. It does this through estimating the costs of alcohol consumption for the South African (SA) society on the one hand, and comparing it to estimates of the economic benefits of having an established alcohol manufacturing industry in South Africa on the other. Aim: The study aims to use available data to objectively assess the role of alcohol in the SA economy. Setting: The study is conducted at a macro-level on the SA economy. Method: Quantitative assessment of the net economic benefit (or cost) of the SA alcohol industry was used for conducting the study. Results: The study indicates that the production of alcohol contributes significantly, both directly and indirectly, to Gross National Product (GDP) and generates broad-based employment in the economy. The damage caused by the consumption of alcohol to society is significant and primarily includes the suffering and even death resulting from medical conditions associated with the consumption of alcohol. Conclusion: Taking all factors into consideration, the alcohol industry has a large net positive contribution to the SA economy, levels of employment, and SA society. Contribution: There has been much debate and discussion about the net impact of the alcohol industry on South Africa. This study makes a clear contribution to the debate in that it calculates empirically, on a solid statistical foundation, a Rands and cents estimate of the net contribution of the alcohol industry to the South African economy.

Background: It is commonly acknowledged that cooperatives play important social functions that raise the standard of living for their members, particularly those who originate from rural, and low-income backgrounds. Aim: This article aims to measure the impacts of cooperatives membership on household income taking Zanzibar as a case study. Setting: The data used were directly collected from 217 cooperative members and 83 non-cooperative members. Method: Descriptive statistics were used to analyse the demographic characteristics of the respondents. The probit model and propensity score matching (PSM) was used to analyse the impacts of cooperative membership on household income. Results: The probit model findings show that there are four statistically significant factors affecting cooperatives membership, including gender, educational level, land ownership, and access to credit. In addition, PSM findings reveal that there is a disparity in income level between cooperative members and non-members. On average, cooperative members are able to generate more income than non-cooperative members by 28% per year. Conclusion: The study concludes that, in order to expand the observed benefits to the population, cooperative growth needs proper backing. Because poverty has many different dimensions, it’s crucial to expand the organisations that help the poor while also utilising other support services to reduce it. Contribution: The article serves as first empirical evidence to be conducted in Zanzibar, Tanzania. The findings will facilitate the amendment of the cooperative context, including tax reduction, extending loans and grants, and other favourable working conditions necessary for supporting the development of cooperative society.

Background: Although numerous researchers have discovered a negative association between stock-market returns and changes in exchange rates, the literature does not address how external shocks may alter these correlations. Aim: This article investigates the risk synchronisation between stock returns, exchange-rate returns, geopolitical risk (GPR), and global economic policy uncertainty (GEPU) concerning countries within the Southern African Development Community (SADC). Setting: The SADC countries over the period February 2005–August 2021. Methods: The wavelet techniques were used to address the study’s objectives. Results: The bivariate results show that there was a positive interdependence between the stock market and the currency market in Botswana and Mauritius from 2007 to 2012. In South Africa, there is always significant co-movement between the two markets. The partial wavelet shows that, while both increasing GPR and GEPU influence the correlation between stock returns and exchange-rate returns, GPR has a greater impact than GEPU. Finally, the wavelet multiple correlations analysis reveals that the Botswana exchange-rate reaction to shocks is indeterminate, with the ability to lead or lag in terms of how the SADC economies respond to shocks across all-time scales. Conclusion: The findings from the study imply that investors should watch for changes in the GEPU, particularly the GPR, if they are concerned about the stock markets in Botswana, Mauritius, and South Africa. Contribution: This is the first study to evaluate the conditional effect of external shocks on the co-movement of currency returns and stock returns in SADC countries using wavelet techniques.

Background: The green economy has long been important in public discourses, as has been the forecasting of macroeconomic phenomena. Aim: The purpose with this study was to construct a regional input–output model for the South African economy. Setting: The model is a coupled input–output/system dynamics model. It is dynamic in the sense that sector growth follows the ‘limits to growth’ hypothesis. The model is used to explore the impact on the green economy, and also on poverty indices. Method: It was constructed using Vensim®, a system dynamics modelling package. Bayesian methods were utilised to estimate realistic values for the multipliers. Type I multipliers for output, income, employment and gross value added (GVA) are estimated. The model was then ‘tested’ by forecasting various resource sectors’ GVA (i.e. agriculture, mining, water, electricity). Results: The model fits the historical data well, replicating provincial GVA as well as national GVA to an acceptable standard. The multipliers fell within appropriate ranges, and followed a priori expectations. Conclusion: The model provides ‘highly accurate’ forecasts of various macroeconomic parameters, including the resources sectors. The impact of different multipliers in the three resources sectors on various poverty indices in South Africa was also assessed. Contribution: The model has great potential for further use in the agricultural, energy and resource sectors, but also has wider application since it provides a means for generating an input– output table for any specific year based on the forecasting of input – output elements.

Background: Financial inclusion and its relationship with remittances has been widely an area of investigation among researchers. Aim: The study investigates the asymmetric effects of remittance inflows on financial inclusion (FI) in Jordan. Setting: Annual time series data (1990–2022) constitute 33 observations. Method: This study uses the nonlinear autoregressive distributed lag (NARDL) model. Results: The empirical evidence showed a long-run equilibrium relationship among the model’s variables. Furthermore, the standard Wald test provides evidence of the asymmetric long-run and short-run effects of remittance inflows on FI and, hence, the nonlinear relationship. Conclusion: The Jordanian government should promote efforts to simulate the inflow of remittances to the country. This study uncovered the vital relationship between FI and remittance inflows and its important role in enhancing financial sector development. Contirbution: This study contributes to the existing literature on the remittances-FI nexus. First, it uncovered the vital and important relationship between FI and remittance inflows, and its crucial role in enhancing financial sector development. Second, unlike previous studies that used linear ARDL or traditional estimation methods, it applied the NARDL approach to test for the existence of a nonlinear relationship between the model’s variables. Third, it suggests that policymakers in Jordan government should put effort into stimulating the inflow of remittances to promote FI and, hence, economic growth and development.

Background: Aid volatility has been frequently discussed but its effect on health poverty has not. Aim: The aim of this study is to evaluate the effect of aid volatility on residential health in recipient countries. Setting: Panel data from 91 recipient countries around the world from 1989 to 2017 were analysed. Method: The Random Forest algorithm in machine learning was used. Results: It reveals a conductive effect of aid volatility on public health, as aid volatility accounts for approximately 2.2%, 3.6%, 2.5% significance in child mortality, maternal mortality and life expectancy, respectively. Positive volatility causes more child mortality than negative volatility, while it causes less maternal mortality, although both kinds of volatility have a significant effect on life expectancy. Additionally, multinational aid volatility has a greater impact than bilateral volatility. The age dependency ratio affects maternal health and public life expectancy, while foreign aid and aid volatility are not crucial. Conclusion: The donor nations or institutions should keep their aid growth-rate stable in order to ensure sustainable development in both the local economy and public health, while the recipient nations are encouraged to address these issues by developing their economy internally. Contribution: According to a conductive effect framework developed during the research, theoretically, an indirect relationship between aid volatility and the health poverty level of recipient countries exists.

Background: As countries at global and regional levels work towards achieving the United Nations Sustainable Development Goal (SDG) 16, which emphasises the establishment and promotion of strong and inclusive institutions, there is a growing urgency to harness the power of information and communications technology (ICT) penetration in order to accomplish this objective. Hence, the rational for this study. Aim: The institutional quality effect of ICT penetration (ICTP) is investigated at global and regional levels. Setting: Annual panel data for 183 countries spanning 2003–2021 are utilised. The countries were further disaggregated to five major regions. Method: We applied the Two-Step System-Generalized Method of Moments (SGMM) estimation approach that incorporate forward orthogonal deviations to achieve the objective of the study. Results: The results of the SGMM analysis demonstrate a statistically significant and positive effect of ICTP on institutional quality at the global level. However, the effect varies significantly at the regional level. Conclusion: Overall, considering the inclusion of other control variables in the estimations, it is indicated that global and regional governments, as well as policymakers, could accelerate the achievement of institutional quality by strategically harnessing the potential of ICTP. Contribution: This study makes a valuable contribution to the existing literature by revealing the impact of ICTP on institutional quality at both global and regional levels. To address endogeneity concerns, the Two-Step SGMM methodology is employed, offering a robust analytical framework for analysis.

Background: Corporate risk management theory argues that effective hedging with derivatives should reduce earnings volatility and enhance firm value. However, studies that have examined the relationship between the use of derivatives and earnings volatility, particularly from developed markets have reported mixed results. Aim: This study investigates the relationship between corporate risk management practices such as the use of derivatives and earnings volatility. More specifically, it examines whether the use of derivatives by non-financial firms listed on the JSE has an effect of smoothing earnings volatility. Setting: The setting includes 135 JSE listed non-financial companies during the period 2005-2021. Method: Firm level data were obtained from financial data depositories, IRESS and Thomson Reuters Datastream. This study made use of panel estimated generalised least squares method (period seemingly unrelated regression) regression model in the analysis. Results: The findings of this study contradict the prediction of corporate risk management theory. The empirical findings showed that derivatives use measured by a dichotomous variable was positively associated with earnings volatility, meaning that derivatives were not effective in smoothing earnings volatility. However, when derivatives use is measured by a continuous variable, the empirical findings showed a weak association. Conclusion: The present study rejects the null hypothesis based on the results of the regression models. However, the results of this study do not suggest that JSE listed firms are ineffective in managing risks and cannot conclude that these firms used derivatives for speculative purposes, exposing themselves to additional risks and volatility. Contribution: The findings of this study add to the body of knowledge on corporate risk management practices and their impact on earnings volatility and on firm value.

Background: Women have been climbing the organisational ladder at a slower pace than men. Several reasons have been cited for women’s slow progress to senior positions, but little attention has been given to the role of personal responsibility in women’s career progress. Yet personal factors are vital for skills development and career advancement. Aim: The aim of the study is to determine whether skills development influences women’s career advancement, and to establish whether selected personal factors influence women’s skills development and their career advancement. Setting: The study focused on women working in the service sector in Johannesburg, South Africa. Method: The study was quantitative in nature, and a survey strategy was used. The final sample consisted of 412 women. Results: The results reveal that personal responsibility is essential for the skills development and career advancement of women. Also, skills development is vital for women’s career advancement. Conclusion: Women need to take the lead in planning their careers, and they should intentionally engage in developmental activities that influence their career outcomes. Contribution: Previous research has given little attention to the role women play in their own skills development and career advancement. Also, insufficient consideration has been given to skills development to achieve career advancement. The study fills this gap in knowledge regarding women’s career advancement.

Background: Consumers are known to help others engage in consumption and anti-consumption practices. It is argued that behavioural involvement and social norm perceptions may motivate customers to help other customers engage in anti-consumption practices. Aim: This study aims to investigate the role of behavioural involvement (psychological factor) and social norm perceptions (social factor) in motivating customers to help other customers engage in anti-consumption practices. Setting: A self-administered survey was sent by a research agency to South African respondents aged 18 and older, who generally advise other customers about suitable anti-consumption practices. Method: A quantitative study was undertaken and respondents were selected using purposive sampling. A total of 476 useable responses were collected. Furthermore, descriptive statistics, reliability testing, and multiple regressions were undertaken to test the study’s hypotheses. Results: Three of the four behavioural involvement factors tested are significant predictors of helping; while two of the social norm factors tested are significant predictors of helping. Marketers’ inappropriate actions impact negatively on their customers’ behaviour, but a more far-reaching consequence is that their customers are willing to help others engage in anti-consumption practices. Conclusion: Behavioural involvement and social norm perceptions motivate customers to help other customers engage in anti-consumption practices. Contribution: The study uncovers the role of socio-psychological factors in motivating customers to help other customers avoid brands that may be harmful towards society.

No abstract available.

Background: Whether internal or external, motivational factors serve as stimulants influencing individual ability to execute sales tasks. A meta-analysis was conducted highlighting three broad categories of individual motivations that are imperative within the context of sales performance, namely cognitive choice, goal orientation, and work engagement. However, marketing and sales management scholars argue that there is a need for further research exploring the influence of intrinsic and extrinsic motivational factors on overall sales performance in multiple business settings. Aim: The aim of the study is to test a six-dimensional framework of business-to-business (B2B) sellers’ motivations in sales performance. Setting: The application of a six-dimensional framework on sales performance within a Norwegian context. Different companies from multiple industries operating in the product-orientated sector of Norway were selected to measure the relevance of the six-dimensional framework to sales performance in these companies. Method: In total, 236 usable questionnaires representing multiple industries of different sizes across Norway were used. Data were collected using self-administered questionnaires. Results: The findings indicate that the dimensions of B2B sellers’ motivations are relevant in a B2B sales setting. Therefore, sales businesses operating in a B2B environment need to become increasingly aware that motivations drive sellers to achieve their goals. Conclusion: The study offers an increased understanding on how to structure B2B sellers’ motivations in a six-dimensional framework, including cognitive choice, goal orientation, and work engagement. Contribution: The study develops an improved understanding of the intrinsic and extrinsic motivational factors that influence the sales performance of B2B sellers. Furthermore, it contributes to an increased understanding of how to structure B2B sellers’ motivations in a six-dimensional framework.

Background: Entrepreneurial intention (EI) is necessary for developing entrepreneurship as it is a good predictor of engaging in actual entrepreneurial activities. On this account, it is necessary to understand the determinants of EI. Nevertheless, a study incorporating mechanisms and boundary conditions on the relationship between need for achievement (nAch) and EI, from a developing country’s perspective, has been lacking. Aim: Firstly, in the current study the aim is to assess the relationship between nAch and EI. Secondly, the aim is to establish whether entrepreneurial attitudes (EA) positively mediate the relationship between nAch and EI. Thirdly, the study examined whether SCP moderates the indirect nAch– EA– EI relationship. Setting: The study was conducted among students from all faculties at a South African university. Method: The authors adopted a quantitative research method, and data were collected using a questionnaire distributed to 723 students at a South African university. The analysis was performed using the Partial Least Squares Structural Equation Modeling PLS-SEM statistical software. Results: The findings showed a positive and significant relationship between nAch and EI. Furthermore, it was shown that EAs positively mediate the link between nAch and EI. The indirect nAch – EA – EI relationship was also positively and significantly moderated by SCP. Conclusion: In conclusion, this study shed light on the nuanced understanding of the nAch – EA– EI association by proposing and validating the moderating role of SCP, an approach that has been lacking in existing studies. Contribution: The study contributes to the body of knowledge, through new empirical findings generated from the moderated mediation analysis in the context of a developing country.

Background: Twitter is revolutionising the way in which companies engage with stakeholders. While prior research examining companies’ use of Twitter focused on the capital market consequences thereof, empirical evidence on how companies use Twitter, still remains scant. Aim: We aim to improve our understanding of the use of Twitter, specifically (1) whether companies use Twitter as a two-way stakeholders’ engagement platform, and (2) whether companies change tweeting behaviour around result release dates. Setting: The sample consists of 70 companies for which 73 018 tweets were downloaded from Twitonomy during the period 2017–2020. Methods: The data were analysed using the mixed-model analysis of variances (ANOVAs) and generalised estimations equations. The agency, legitimacy, signalling and capital need theories were used to set expectations and interpret results. Results: Although there was no significant increase in the overall number of tweets, most companies significantly improved their level of engagement from 2017 to 2020. This is especially true of larger companies, the more profitable companies and companies with increased future growth potential. Furthermore, companies tweet significantly more around result release dates. This is most pronounced in primary industries and companies reliant on capital markets. Contribution: This is the first study that aimed to explore the two-way use of Twitter as a stakeholders’ engagement platform, in the context of a developing country, including possible reasons why companies tweeting behaviour changes around result release dates. It is proposed that regulatory bodies should take note of possible risks, and that companies should be aware of what their peers are doing.

Background: Despite considerable efforts by the South African government, such as the Youth Employment Service (YES) programme, unemployment remains an enigma. Aim: The study seeks to explore the responsiveness of sectoral employment to changes in the sectoral output in South Africa. Setting: We focus on the agriculture and informal sectors, with the understanding that a large portion (93%) of South Africa’s unemployed population does not have tertiary education qualifications. Thus, the current South Africa’s unemployment phenomenon appears to necessitate the development of policies that will create inclusive skill-based jobs. The study’s hypothesis is theoretically underpinned by Okun’s law, according to which output growth is considered as a primary labour demand stimulus in the economy. When the labour demand function is co-integrated, Okun’s law is assumed to hold; otherwise, ‘jobless growth’ applies. Method: The findings from the Engle-Granger two-step testing procedure on the double-log linear labour demand function over the 1993–2018 period show evidence of jobless growth in the formal agricultural sector, while the informal agriculture and informal non-agriculture sectors demonstrated features of Okun’s law. Results: Notably, the authors found a fairly elastic (1.35%) employment intensity in output growth in the non-agriculture informal sector, with an equilibrium adjustment rate of 86% within a year, ceteris paribus. Conclusion: The findings suggest that, while South Africa’s formal agriculture is no longer labour-intensive, due to agricultural mechanisation, economic policy consciousness in the informal sector, including agri-entrepreneurship, is necessary to create inclusive mass employment in South Africa. Contribution: This study delves into the informal sector, which has been frequently overlooked as a potential solution to South Africa’s unemployment crisis.

Background: Scholars have examined populations within firms and found that managers and employees exhibit similar characteristics in the relationship between dynamic capability drivers and sustainable performance. However, the unobserved relationship between dynamic capability drivers and sustainable performance in the context of dairy microfirms is less investigated. Aim: The main motive is to examine the unobserved connection in the relationship between dynamic capability drivers and sustainable performance in dairy microfirms in Tanzania. Illustrating the knowledge-based view (KBV), this study determines that valuable competencies impact dairy microfirms’ sustainable performance. Setting: The 300 participants in this study were employees and managers of dairy microfirms in three regions of Tanzania: Tanga, Arusha, and Kilimanjaro. Method: A unique unit segment technique – response-based unit segmentation-partial least squares (REBUS-PLS) path modelling – is used to uncover latent classes to meet the research objective. Results: Our findings reveal that the aggregate model hypotheses were significant. Furthermore, the paper illuminates potential unobserved variations between managers and employees concerning the dynamic capability drivers and sustainable performance of dairy microfirms in Tanzania. Conclusion: The potential unobserved differences between managers and employees provide an alternative explanation for the relationship between dynamic capability drivers and sustainable performance. This helps avoid the ‘competency trap’ and explains how to improve the dynamic capabilities of dairy microfirms. Contribution: Homogeneous behaviour among managers and employees strongly suggests collectivist work to improve sustainable performance. We contribute empirically by demonstrating the underlying dynamic capability drivers of managers and employees in heterogeneous segments to explain sustainable performance.

No abstract available.