scholarly journals Revisiting the relationship between different financial risk measures and the market return on ordinary shares in South Africa

2015 ◽  
Vol 18 (2) ◽  
pp. 218-231
Author(s):  
Elda Du Toit

The main aim of this study was to test whether there is a positive relationship between different financial risk measures and the expected return of a share. This study was performed in 1995 by Brümmer and Wolmarans, who obtained results contrary to those of a similar study in the United States of America in 1988. The reasons for the difference were not established. This study follows up the one by Brümmer and Wolmarans to determine whether the passing of 19 years could have brought about any difference in the results. This process was initiated by testing a set of variables from a sample size of 107 JSE-listed companies from 2002 to 2012 for linearity. As there was no such linear relationship between any of the variables, no assumptions can be made about any relationship between share return and the risk measures tested here. If investors were risk averse, one would expect a positive relationship between different financial risk measures and the expected return of a share. This is not the case in the South African market.

2016 ◽  
Vol 21 (1) ◽  
pp. 14-20
Author(s):  
Mihaela Man

Abstract In this research on the one hand we analyzed the relationship that exists in terms of motivational persistence and the Big Five dimensions and, on the other hand, organizational citizenship behavior (OCB). The results show that the conscientiousness has been identified as being in a significant positive relationship with OCB. This result is consistent with the data provided by previous researchers. The results also indicate that three conscientiousness facets are in a positive relationship with OCB. These three conscientiousness facets are self-efficacy, cautiousness and orderliness. Agreeableness was not identified as being associated with OCB. At the level of the relationship between motivational persistence factors and OCB, we have identified a significant positive relationship with only one factor: current purpose pursuing. The OCB model has two variables that work best as predictors: high scores with regard to current purpose in terms of the pursuing-motivational persistence factor, and low scores in terms of the imagination-facet of openness to experience.


2019 ◽  
Vol 15 (3) ◽  
pp. 296-317 ◽  
Author(s):  
Ray Qing Cao ◽  
Dara G. Schniederjans ◽  
Vicky Ching Gu ◽  
Marc J. Schniederjans

Purpose Corporate responsibility perceptions from stakeholders are becoming more difficult to manage. This is in part because of large amount of social media being projected to stakeholders on a daily basis. In light of this, the purpose of this paper is to examine the relationship between corporate responsibility framing from the social media perspective firm’s performance as defined by abnormal-return (defined as the difference between a single stock or portfolios return and the expected return) and idiosyncratic-risk (defined as the risk of a particular investment because of firm-specific characteristics). Design/methodology/approach Hypotheses are developed through agenda-setting theory and stakeholder and shareholder viewpoints. The research model is tested using sentiment analysis from a collection of social media from several industries. Findings The results provide support that three corporate responsibility social media categories (economic, social and environmental-framing) will have different impacts (delayed, immediate) on abnormal-return and idiosyncratic-risk. This study finds differences between immediate (one-day lag) and delayed (three-day lag) associations on abnormal-return and idiosyncratic-risk. Originality/value This study also suggests differences between the amount and sentiment of corporate responsibility social media framing on abnormal-return and idiosyncratic-risk. Finally, results identify interaction effects between different corporate responsibility social media categories.


2019 ◽  
Vol 2 (2) ◽  
pp. 35-42 ◽  
Author(s):  
Mircea-Andrei Scridon

Abstract Although perceived value is considered essential in any marketing activity, the role it plays regarding the relationship between perceived risk and loyalty in the context of organizational markets is not thoroughly considered. Therefore, this paper addresses the aforementioned issues in the context of the small and medium size enterprise market in Romania. From a sample of 229 entities, data were collected and analysed using structural equation modelling techniques. Results confirmed that different relationships are established between functional or financial risk and emotional value on the one hand, and emotional value and loyalty on the other hand. Discussions of the results integrate main findings with other studies that partially or tangentially study the connections between emotional value, risk and loyalty. The paper end with a brief limitations and avenues for future research.


2017 ◽  
Vol 15 (26) ◽  
pp. 239
Author(s):  
Jorge Leonardo González Calderón ◽  
Jairo Jamith Palacios Rozo ◽  
Julio Alberto Perea Sandoval

Business Intelligence (BI)  is one of the business tools on which competitive advantages of various world-class companies are based. Also in the highly competitive and changing global environment, the ability of an organization to detect changes,  make decisions and  to do a fast implementation, is the difference between  grow or disappear; this attribute in an organization  is named Organizational  Agility (AO). In this paper, through the systematic review of the literature, the state of art of both fields (BI and AO) is established and in particular studies examining the relationship between the two. The research about this relation is beginning, and therefore is a field with much to explore.About BI, its evolution is denoted  on the concepts of maturity, technical and analytical technologies.  Referring to organizational  agility, the concept  is reviewed  as such and  factors that promote, with special  emphasis on the factors for the couple of concepts. The conclusion is that a positive relationship is two-way, the AO is favored with BI projects in BI mature companies,  and agile enterprises obtain better results of BI.


2013 ◽  
Vol 41 (5) ◽  
pp. 709-729 ◽  
Author(s):  
Kristin Cavoukian

Russia's Armenians have begun to form diaspora institutions and engage in philanthropy and community organization, much as the pre-Soviet “established” diaspora in the West has done for years. However, the Russian Armenian diaspora is seen by Armenian elites as being far less threatening due to a shared “mentality.” While rejecting the mentality argument, I suggest that the relationship hinges on their shared political culture and the use of symbols inherited from the Soviet Union in the crafting of new diaspora and diaspora-management institutions. Specifically, “Friendship of the Peoples” symbolism appears to be especially salient on both sides. However, the difference between old and new diasporas may be more apparent than real. The Russian Armenian diaspora now engages in many of the same activities as the Western diaspora, including the one most troublesome to Armenia's elites: involvement in politics.


2020 ◽  
pp. 79-97
Author(s):  
LaTonya J. Trotter

This chapter evaluates how the presence of the nurse practitioner (NP) does not just signal changes in nursing work; it portends changes in medical work. Although real tensions exist between nurses and physicians, broadly speaking, they have worked collegially alongside one another for well over a century. This collegiality has endured despite significant changes in what both physicians and nurses do for patients. Its endurance, however, has been predicated on the one thing that has not changed: the power relations between the two. It is the difference in authority, and not just the difference in work, that undergirds the stability of the relationship between the two professions. The NP threatens to disrupt that stability. When registered nurses (RNs) become NPs, they are not just learning new skills; they are crossing lines of authority that they had previously learned to treat as constitutive of their profession. The chapter then looks at the voices and experiences of the NPs of Forest Grove Elder Services. Their narrated and actual practices negotiated physician authority in very different ways.


1981 ◽  
Vol 11 (1) ◽  
pp. 44-46 ◽  
Author(s):  
D.P. Fourie

It is increasingly realized that hypnosis may be seen from an interpersonal point of view, meaning that it forms part of the relationship between the hypnotist and the subject. From this premise it follows that what goes on in the relationship prior to hypnosis probably has an influence on the hypnosis. Certain of these prior occurences can then be seen as waking suggestionns (however implicitly given) that the subject should behave in a certain way with regard to the subsequent hypnosis. A study was conducted to test the hypothesis that waking suggestions regarding post-hypnotic amnesia are effective. Eighteen female subjects were randomly divided into two groups. The groups listened to a tape-recorded talk on hypnosis in which for the one group amnesia for the subsequent hypnotic experience and for the other group no such amnesia was suggested. Thereafter the Stanford Hypnotic Susceptibility Scale was administered to all subjects. Only the interrogation part of the amnesia item of the scale was administered. The subjects to whom post-hypnotic amnesia was suggested tended to score lower on the amnesia item than the other subjects, as was expected, but the difference between the mean amnesia scores of the two groups was not significant.


2014 ◽  
Vol 8 (2) ◽  
Author(s):  
Simone Elisabeth Lang

AbstractIn describing the position of the narrator, research in literary studies generally follows Gérard Genette’s pioneering theory of narrative in distinguishing between the homo- and heterodiegetic type of narrator. This categorization is not sufficient to allow the position of the narrator to be described properly. The different ways in which the terms are used in literary studies reveal a shortcoming in the distinction behind them. Even in Genette’s work, there is a contradiction between the definition and the names of the two categories: Genette defines homo- and heterodiegesis with reference to the narrator’s presence in the narrated story, whereas he elsewhere states that the diegesis (in the sense of FrenchThe present article aims to do just that, starting from a theoretical standpoint. Thus, the different types of narrator that are possible are sketched in outline, and then explained with the help of examples.I begin by exposing the problems that result from using the terms in Genette’s manner (1), in order then to develop a list of possible narratorial standpoints based on the one hand on the involvement of the narratorial instance in the narrated world and on the other on its involvement in the story. By establishing separation of the two aspects as a ground rule in this way, a number of misunderstandings that are due to the varied ways in which the terminology has been used to date can be overcome.There follows a description of those cases that are unambiguously hetero- and homodiegetic (2), after which the problematic cases are considered (3), yielding the different types of homodiegetic narration that are possible. This latter set of distinctions will, like the others, shed light on the contours of the different narratorial positions and thus be capable of being put profitably into practice in textual interpretation. Accordingly, what is suggested is a way of using the terms that is first unambiguous and second beneficial to the interpretation of works, thus doing justice to the heuristic importance of narratology (see Kindt/Müller 2003; Stanzel 2002, 19).Thus, whereas the concept of diegesis provides the foundation for a distinction based on an ontological criterion that divides homo- and heterodiegesis from each other, the relationship between story and narrator is used to describe various types of homodiegetic narration. In the process, there come to light two types that are distinguished from each other by involvement in events (›homodiegetic, in the story‹ and ›homodiegetic, not in the story‹ narrators). If the narrator is not involved in events, the question arises of whether it would in principle have been possible for him to be involved in events, which is the norm with ›homodiegetic, not in the story‹ narrators, or whether a physical impossibility is the reason for his lack of involvement in the story. A special case of the ›homodiegetic, not in the story‹ narrator can be derived from this: peridiegetic narration: whereas narratorial instances of the ›homodiegetic, in the story‹ and ›homodiegetic, not in the story‹ types could in principle have been involved in the action and those of the ›homodiegetic, in the story‹ type actually were, peridiegetic narrators are marked by the fact that they cannot have been involved in the events.In summary, it will be shown that the concept of homodiegesis – in particular in the form in which it has previously been used, where links with the action and appearance in the story were not kept distinct – is in effect an umbrella term that brings together a number of possible forms. There is a prominent distinction between the ›homodiegetic, in the story‹ and the ›homodiegetic, not in the story‹ types of narrator (these types are represented in the present article by the old lawyer in Leo Perutz’s »The Beaming Moon« and the narrator who is a friend of Nathanael in E. T. A. Hoffmann’s »Sandman« respectively). The different degrees of homodiegetic narrator, which have often been mentioned in previous research and are defined by the strength of the character’s presence in the narrated world (from an uninvolved witness to an autodiegetic protagonist), are also to be situated between these two poles.It will also be shown in the process that the case of the narrator who is, for reasons of physical difference, not involved in events (the peridiegetic narrator) should be treated as a form of homodiegesis (for instance the schoolmaster in Theodor Storm’s


2008 ◽  
Vol 98 (4) ◽  
pp. 1605-1618 ◽  
Author(s):  
Simon Condliffe ◽  
Charles R Link

Anne Case et al. (2002), using cross-sectional data, found a positive relationship between children's health and income, with income's protective effect increasing with age. Janet Currie and Mark Stabile (2003), using a panel of Canadian children, found that low- and high-SES children respond similarly to health shocks, but the low-SES children are subject to more shocks as they age. Our study examines this relationship using panel data for US children. We find some support for the latter result of Currie and Stabile, but also evidence that low- and high-SES children respond differently to specific health shocks. (JEL D31, I12, J13)


Obiter ◽  
2021 ◽  
Vol 34 (3) ◽  
Author(s):  
Darren Subramanien

There is no assumption of marriage in South African law in consequence of cohabitation regardless of the duration of the relationship. Our law does not give automatic rights to partners in a cohabitation relationship. If one of the parties dies without leaving a will for instance, the domestic partner is not legally entitled to inherit or to claim maintenance from the deceased’s estate. An aggrieved party would have to go to court to show that the parties were partners in a “universal partnership” and that the one party owes something to the other. The question that often arises is whether any mechanisms exist for the division of assets accumulated in a cohabitation situation on separation of the parties. If parties have cohabited and they can prove that a tacit universal partnership exists between them, all property of such apartnership is deemed to be jointly owned by the parties and debts are the joint liability of the parties. The issue as to whether a tacit universal partnership extends beyond commercial undertakings and whether the contribution by each party must be confined to profit-making has been the subject of much debate by our courts but has finally been decided by the court in the cases of Ponelat v Schrepfer (2012 (1) SA 206 (SCA)) and Butters v Mncora (181/2011) [2012] ZASCA 29 (28 March 2012)).


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