scholarly journals Precision, Consistency and Bias in Emerging Equity Markets

2014 ◽  
Vol 6 (5) ◽  
pp. 386-399 ◽  
Author(s):  
WS Nel ◽  
NJ le Roux .

The use of multiples is a popular approach employed by analysts to perform valuations. These multiples are based on optimal value drivers, the valuation performance of which should be underpinned by empirical findings from carefully designed, unbiased research initiatives. This paper firstly investigates the risk of biasing the design of market-based studies which aim to test the valuation performance of individual value drivers. The evidence revealed that, when testing the valuation performance of value drivers, there is an inherent risk of biasing the design of a study of this kind, and therefore, its outcome. Secondly, the paper presents evidence in support of the consistency of previous research findings regarding the valuation performance of individual value drivers in the South African market over the period 2001-2010. To this end, the paper introduces a new approach for the analysis of multidimensional equity valuation research data in the form of principal component analysis (PCA)-based biplots. Thirdly, the paper provides evidence that multiples-based modeling seems to be biased to the downside, which is an important consideration for analysts who choose to adjust their valuations outside of these models.

2014 ◽  
Vol 17 (2) ◽  
pp. 220-231
Author(s):  
Pamela Clavier ◽  
Hugo Lotriet ◽  
Johan Van Loggerenberg

High expectations are set for Business Intelligence (BI), yet it fails to consistently deliver accordingly: there are numerous reports of BI challenges and failures. Existing approaches to address BI challenges are largely found to be ineffective, highlighting the need for a new approach. This paper examines how BI is perceived or understood and establishes that, firstly, BI is inherently grounded in Goods-Dominant (G-D) logic and secondly, that this can be linked to the challenges that are experienced within BI. A recommendation is made for a shift to Service-Dominant (S-D) logic as a new avenue of exploration to assist in overcoming BI’s prevailing challenges. Identifying the inherent G-D logic in BI provides the first step necessary in making this shift. Research findings are based on an interpretive case study of a South African Banking institution as well as a literature review.


2002 ◽  
Vol 32 (2) ◽  
pp. 1-8 ◽  
Author(s):  
Anne Schlachter ◽  
John Duckitt

While psychological theories have long linked prejudice and psychopathology, research findings have been weak and inconsistent. Three possible reasons for this were remedied in this study: social desirability was controlled, the participants (N = 110; South African adults) had clinically diagnosable psychopathology, and a validated multidimensional measure of psychopathology, the MMCI-II, was used. Analyses of the Millon personality and symptom scales, and principal component factors derived from each set, with measures of authoritarian attitudes and anti-Black prejudice indicated two significant paths linking psychopathology and prejudice. First, a Compulsive-Dependent personality factor was significantly related to authoritarian attitudes, which mediated an indirect effect of this personality disorder on prejudice. Second, a Negative Affectivity symptom factor was directly associated with prejudice, and also mediated indirect effects of an Avoidant-Negativistic personality factor on prejudice. The findings are discussed in terms of authoritarian personality theory and theories linking symptoms of psychopathology and prejudice.


Author(s):  
Syarifuddin Syarifuddin

AbstractThis study was conducted to the influents of the Islamic symbolisms toward the decision of consumption buying of the food products. This is a quantitative research. A survey was also involved in this research. Data are also collected through questionnaire to gain an accurate information. Data analysis technique used was a simple regression. The research findings show that Islamic symbolisms have significant influents toward decision to buy food products. That is, t value of p significant is < 0,005 (0,000 < 0, 05) while R square is 0,273 or 27,3 %. In conclusion the influents of Islamic symbols toward the decision on buying have influents as of 27, 3 %. Keywords: Islamic Symbolism, Decision on buying, food products.


2020 ◽  
Vol 1 (3) ◽  
pp. 133-155
Author(s):  
Kgomotlokoa Linda Thaba-Nkadimene ◽  
Maletšema Ruth Emsley

The challenges of reading experienced by learners exerts a negative impact on reading for pleasure, and learners' outcomes. In an attempt to address such reading challenges, Reading Clubs were launched to promote reading for pleasure among South African youth. This study examines the influence of Reading Clubs on learners' attitudes to Reading for Pleasure and the outcomes thereof. The study was informed by the Top-Down Model of Reading and the Cultural Theory of reading for pleasure. Interviews were conducted in five purposively selected schools with five Sparker coaches and five teachers. The research findings reveal a positive influence of Reading Clubs on reading for pleasure and learners' outcomes. This is reflected through improved levels of reading for pleasure. This study ultimately recommends that schools learn from best practices of Reading Clubs, and that government strive to make Reading Clubs a sustainable project.


Atmosphere ◽  
2020 ◽  
Vol 12 (1) ◽  
pp. 12
Author(s):  
Yulia Ivanova ◽  
Anton Kovalev ◽  
Vlad Soukhovolsky

The paper considers a new approach to modeling the relationship between the increase in woody phytomass in the pine forest and satellite-derived Normalized Difference Vegetation Index (NDVI) and Land Surface Temperature (LST) (MODIS/AQUA) data. The developed model combines the phenological and forest growth processes. For the analysis, NDVI and LST (MODIS) satellite data were used together with the measurements of tree-ring widths (TRW). NDVI data contain features of each growing season. The models include parameters of parabolic approximation of NDVI and LST time series transformed using principal component analysis. The study shows that the current rate of TRW is determined by the total values of principal components of the satellite indices over the season and the rate of tree increment in the preceding year.


Author(s):  
Qiang Zhao ◽  
Jianguo Sun

Statistical analysis of microarray gene expression data has recently attracted a great deal of attention. One problem of interest is to relate genes to survival outcomes of patients with the purpose of building regression models for the prediction of future patients' survival based on their gene expression data. For this, several authors have discussed the use of the proportional hazards or Cox model after reducing the dimension of the gene expression data. This paper presents a new approach to conduct the Cox survival analysis of microarray gene expression data with the focus on models' predictive ability. The method modifies the correlation principal component regression (Sun, 1995) to handle the censoring problem of survival data. The results based on simulated data and a set of publicly available data on diffuse large B-cell lymphoma show that the proposed method works well in terms of models' robustness and predictive ability in comparison with some existing partial least squares approaches. Also, the new approach is simpler and easy to implement.


1994 ◽  
Vol 14 (3) ◽  
pp. 144-156
Author(s):  
Marcel P. J. M. Dijkers ◽  
Cynthia L. Creighton

Errors in processing data prior to analysis can cause significant distortion of research findings. General principles and specific techniques for cleaning data sets are presented. Strategies are suggested for preventing errors in transcribing, coding, and keying research data.


2016 ◽  
Vol Volume 112 (Number 7/8) ◽  
Author(s):  
Margaret M. Koopman ◽  
Karin de Jager ◽  
◽  

Abstract Digital data archiving and research data management have become increasingly important for institutions in South Africa, particularly after the announcement by the National Research Foundation, one of the principal South African academic research funders, recommending these actions for the research that they fund. A case study undertaken during the latter half of 2014, among the biological sciences researchers at a South African university, explored the state of data management and archiving at this institution and the readiness of researchers to engage with sharing their digital research data through repositories. It was found that while some researchers were already engaged with digital data archiving in repositories, neither researchers nor the university had implemented systematic research data management.


2002 ◽  
Vol 32 (2) ◽  
pp. 9-25 ◽  
Author(s):  
Hermann H. Spangenberg ◽  
Callie C. Theron

This paper describes the development of a leadership questionnaire the aim of which is to assess the behaviours required to lead change and transformation, while at the same time managing organisational unit performance effectively. A Delphi technique was used to facilitate the identification and testing of emerging leadership dimensions and items, starting with a three-stage model of charismatic leadership, The resultant leadership model comprises four stages, measured as 21 dimensions. The research questionnaire consists of 235 items. The questionnaire was field tested by means of 360° assessment conducted amongst 189 unit managers from a diverse group of organisations. Seven hundred and fifty completed questionnaires were obtained. Unrestricted principal component analyses were performed on each of the sub-scales (dimensions) to examine the unidimensionality assumption. This procedure resulted in the formation of three additional sub-scales. Item analyses on each of the sub-scales produced highly satisfactory Cronbach Alpha values. Further confirmatory factor analyses using LISREL were conducted on each of the 24 sub-scales. A series of goodness-of-fit indices generally showed satisfactory results. Overall, results indicate that a 96-item questionnaire format consisting of 24 dimensions with four items each (selected on the basis of factor loadings) could be used with confidence. Recommendations are made for further research.


2008 ◽  
Vol 8 (1) ◽  
Author(s):  
H. Van den Heuvel

Purpose: This paper aims to examine how 'African management' discourse has emerged in South Africa. Altogether, it has stimulated debates - sometimes in controversial ways - on 'taboo issues', e.g. relating to 'cultural diversity' and 'ethnicity'. The stimulation of such debates within organisations is probably a more valuable contribution than a static, essentialised 'African identity' that it proclaims. Design/Methodology/Approach: The paper draws on a qualitative research project conducted in South Africa in 2003-2004. Its relevance lies in gaining in-depth insights into ('non-western') local management discourse. It seeks to contribute to the body of knowledge on political and cultural contexts in which South African organizations operate, and how they impact on local management perspectives, and vice versa. Findings: The research findings make clear how and under what circumstances 'African management' discourse has come about in South Africa, and how it could be interpreted. Implications: 'African management' advocates allegedly attempt to revise dominant management thinking and promote 'humane-ness' and participatory decision-making in South African organisations, in search of a contextualised management approach. Amongst others, it has produced new meanings of 'Africanness' and has opened up space for 'hidden messages', resentments and aspirations to become openly articulated. This throws another light on phenomena such as cultural diversity and ethnicity that usually tend to be 'neutralised'. This may turn out to be far healthier for blooming organisational cultures in South Africa than relentlessly hammering on prescribed 'corporate values'. Originality/Value: This paper informs the reader in detail about the emergence and evolvement of 'African management' discourse in South Africa. It is a unique attempt to develop an interpretative viewpoint on this intriguing phenomenon that offers a potentially valuable contribution in reading cultural and ethnic identities within organisations.


Sign in / Sign up

Export Citation Format

Share Document