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Financial markets are a system of complex price dynamics that are often influenced by various nonlinear factors. Traditional linear models often do not capture the inherent nonlinearities that exist between them. The aim of this study was to examine the interconnectedness of global financial markets using a multivariate Granger causality framework, focusing the United States, Europe, Asia, and emerging markets. Daily closing share prices spanning 13 years were utilised (January 2010 to December 2023) to analyze the shock transmission dynamics. The findings revealed unidirectional causality from the U.S. to European, Japanese, and Emerging markets, underscoring its dominant role in global financial networks. Conversely, European and Asian markets exhibit no reverse causality on the United States, highlighting asymmetrical interdependence. Notably, China’s Shanghai Composite Granger-causes Emerging market returns, reflecting its rising influence. These insights challenge conventional models that underestimate multilateral linkages, demonstrating that financial integration has intensified bidirectional interactions between Emerging markets and developed markets. By implication, investors should reassess exposure to dominant markets like the U.S. and China’s growing sway over Emerging economies while policymakers should prioritize cross-border spillover monitoring and systemic risk frameworks to address asymmetrical dependencies. Also, institutions must adopt nonlinear models to better capture shock transmission and evolving interdependencies, enhancing resilience against contagion.

The increasing inter relationship between financial markets have led to the discovery of new risk dynamics particularly when considering downside risk. Recent advances in econometric modelling have prompted the search for new insights into the intertemporal dynamics between downside risks and expected stock returns. Therefore, the aim of this study was to investigate this relationship in the S&P 500, the FTSE 100, the DAX, the Nikkei 225, and the TSX Composite, covering the period from January 2000 to December 2023. Using a time-varying transition probability model, the findings revealed consistent negative correlations between downside risk measures and expected returns across all markets, with CVaR exhibiting stronger inverse relationships compared to VaR. These findings challenge the classical risk-return trade-off but align with behavioural explanations where heightened risk aversion during downturns suppresses returns. The regime-switching analysis further uncovers asymmetry in transition probabilities where high-risk regimes persist with a 74% probability, while low-risk regimes show greater stability. By implication, this study provides empirical support for regulatory frameworks prioritizing tail risk mitigation, particularly in volatile markets.

ABSTRACT This study aims to investigate how supply chain management (SCM) practices employed by Local Municipality affect service delivery efficiency and effectiveness. Objectives include identifying specific supply chain strategies, evaluating their impact on operational performance, and providing recommendations for improvement. A qualitative research design was used, involving interviews with key stakeholders like supply chain managers. Findings reveal that effective practices, such as collaborative planning and demand forecasting, significantly enhance service delivery and resource management. However, challenges such as limited technological integration and insufficient staff training impede full effectiveness. The study concludes that targeted training and modern technology adoption are essential for improving operational efficiency and community service.

The aim of this study was to investigate phase distribution and phase correlation dynamics across international financial markets to uncover cyclical patterns, synchronization, and contagion effects. The sample financial markets were the S&P 500, DAX, Nikkei 225, FTSE 100, Shanghai Composite, BSE Sensex with daily closing prices ranging from 2018–2023. Using the Hilbert-Huang Transform complemented by Phase Concentration Index, Kuiper tests, and Granger causality, the results reveal distinct phase clustering in the Shanghai and BSE Sensex. Developed markets exhibit lower volatility clustering (S&P 500: 28% high-volatility phases) but stronger cross-market synchronization (S&P-DAX: 0.82 correlation), underscoring their interconnectedness. The S&P 500 emerges as a global anchor, Granger-causing European and Asian markets with 1.8–3.5-day lags. Crisis periods, particularly COVID-19, amplify synchronization (average correlation=0.92), while non-crisis phases show market-specific volatility (correlation=0.65). Emerging markets demonstrate regional co-movement (Shanghai-BSE: 0.73), offering diversification opportunities. The findings highlight the hierarchical structure of global markets, where developed economies drive cycles, while emerging markets remain prone to instability. This study advances phase-based methodologies as tools for systemic risk monitoring, providing insights into crisis contagion and investor strategies balancing short-term synchronization with long-term diversification.

This study explored the instructional media used in the correctional school and during rehabilitation programmes at the Johannesburg Female Correctional Centre and the preferences of offenders. Underpinned by the positivism paradigm, a quantitative approach was followed, and a cross-sectional survey design was used. The enumeration sampling technique was used due to the small size of the population (n = 571). Data were collected from 402 participants who were sentenced offenders, thus yielding a response rate of 70.40%. A Kolb Learning Style Questionnaire was used to collect data. Version 26.0.0 of the Statistical Package for the Social Sciences (SPSS) was used to analyse data. Descriptive and inferential statistics were computed as part of data analysis. The findings of this study revealed that offenders at the Johannesburg Female Correctional Centre rely on teachers and chalkboard as the dominant media for instruction and that these have been used in the educational or schooling environment for many years. The Johannesburg Female Correctional Centre prefers using teacher and chalkboard instructional mediums, possibly to maintain security in the facility. Based on the findings it is recommended that Johannesburg Female Correctional Centre formulates and implements a strategy that seeks to deliberately provide variations of instructional media/mediums to accommodate different learning styles during the school lessons and rehabilitation programmes, as long as these do not affect the security within the facility.

This study aimed to analyze the challenge of consultocracy in the administration of local government in South Africa, and to further identify its triggering factors and related consequences. Data collection was guided by qualitative research approach whereby 20 officials responsible for the management of different municipal internal units were interviewed. The data were thematically analysed. Among other things, the study identified skills deficit, corruption and absolute or geographical impossibility as key triggering factors behind consultocracy in municipal governments. Firstly, the study raises alarm to the emerging practices of consultocratic managerialism in the administration of local government. Secondly, it adds to the body of literature ways in which consultocracy manifests and the municipal vulnerabilities, as well as practical ways to overcome this problem.   

This research investigates the implementation of Electronic Records Management Systems (ERMS) at specific Technical and Vocational Education and Training (TVET) colleges in Limpopo, particularly emphasising Capricorn TVET College. The research seeks to improve administrative efficiency by tackling the difficulties associated with good record management. Critical issues examined encompass barriers to ERMS implementation, its advantages, and the correlation between staff productivity and technological acceptability. A quantitative research methodology was employed, utilising a cross-sectional descriptive design. Data were gathered from 180 administrative personnel at Capricorn TVET College using standardised questionnaires. The research concentrated on identifying obstacles to ERMS implementation, advantages of the system, and its effect on work performance. Research demonstrates that ERMS markedly enhances administrative performance through improved efficiency, collaboration, and data security. The results indicate that ERMS promotes administrative efficiency, bolsters data security, and minimises errors. Nonetheless, insufficient training and reluctance to change were recognised as major obstacles to acceptance. The perceived utility and user-friendliness of the system were pivotal elements affecting employee adoption and performance enhancement.

The purpose of this paper is to call for an intensified research practices and institutionalisation within municipal governments in South Africa, and the contextual focus includes typical municipalities in the Ngaka-Moridi Molema district of the North-West province. Research as a public management tool has been largely negated in municipal governance decision-making processes and this is linkable to the general deterioration of municipal governance systems in the local sphere. This paper found that the majority of municipalities in South Africa, including the ones in NMMD do not have a full appreciation of research in that very few to none have established research components to support municipal decision-making processes.  Insights were further drawn from certain theories of governance to complement the suggestions made in the paper pertaining to ways in which municipalities can inculcate not only the spirit of research but its embedding with the governance [council] system.

The concepts of environmental-specific and servant leadership (ESSL) and organisational citizenship behaviour (OCB) for the environment are recognized as pivotal in achieving environmental sustainability. This study aims to explore the interconnectedness between these two concepts. A comprehensive desktop integrative study was conducted, encompassing a thorough analysis of pertinent literature. This approach was augmented by comprehensive searches of reputable academic databases such as Web of Science, Scopus, ResearchGate, and Google Scholar, ensuring a comprehensive understanding of the research topic through high-quality, peer-reviewed articles and scholarly content. The findings strongly support the idea that ESSL plays a crucial role in cultivating a sustainable culture within organizations by empowering leaders to develop their teams' knowledge and skills in environmental sustainability. Such leadership fosters employee engagement in sustainable practices, enhancing overall environmental performance and promoting a sense of responsibility towards sustainable development. Recommendations emphasize the importance of fostering a supportive organizational culture where employees perceive their contributions to environmental goals as significant. Recognizing and rewarding exemplary environmental behaviours can further inspire others, embedding ESSL and OCB into organizational culture for holistic sustainability. This approach encourages a shared commitment to environmental stewardship, driving organizational change towards sustainable practices and positioning the company as a leader in environmental responsibility. Managerial implications highlight the role of ESSL in aligning sustainability goals with leadership practices, emphasizing stewardship and a service-oriented approach that prioritizes both employee welfare and environmental sustainability.

The small, micro, and medium enterprises (SMMEs) in South Africa were found to be failing at exceedingly high rates. Some government support programmes were established in certain institutions of government to improve the SMME situation. Discrepancies seemed to show that while support programmes offered aid to the SMMEs, SMMEs showed no significant improvement. The support structures claimed that their aid was effective, and the SMMEs were saying they were not being enhanced. The aim of this paper was to analyze and understand the reasons behind any differences in responses or actions between SMMEs and the support programmes meant to aid them. A qualitative study was conducted, where both parties were interviewed, and their results compared. The study showed that the support programmes were not empowered to extend their services beyond offering aid, so they could not even monitor and evaluate their programmes’ effectiveness. When they said they were effective, it meant up to their scope. On the other hand, SMMEs expected the support institutions to visit and support them. Hence, the problem was mainly a misunderstanding. For the success of the support programmes, however, the study recommended that policies of the support structures should be extended, and activities extended to satisfy the SMMEs.

Nyaope is proportionately a new substance/drug in South Africa. It is a combination of heroin and cannabis, and it is a very addictive drug. Nyaope is a public health concern in South Africa because of its spread and prevalence across townships. The streets of South Africa have been described as being flooded by Nyaope, and it is destroying communities due to its highly addictive nature, availability, and cheap prices. In South Africa, Nyaope is one of the illicit drugs that concerns the government. The use of Nyaope is worrying because it is higher than other harder drugs like methamphetamine, cocaine, and ecstasy because of its addictiveness. The study applied the qualitative research approach to understand the comprehensive analysis of the effectiveness of nyaope rehabilitation programs for individuals in recovery. The study used semi-structured face-to-face interviews with purposive sampling selected as a technique. The study utilized interviews as an instrument for data collection. An exploratory research design was employed in the study to explore the effectiveness of rehabilitation programs for individuals in recovery.  The study observed ethical considerations such as informed consent, confidentiality, beneficence, debriefing, and harm avoidance. The study applied systems theory and ecological approach to provide a framework and foundation. This study aimed to assess the effectiveness of rehabilitation programs in addressing Nyaope addiction among individuals in Seshego, Polokwane, Capricorn District. The findings shed light on the management of rehabilitation programs in the study area, providing insights into the effectiveness and areas for improvement. Keywords Addicts, effectiveness, Nyaope, rehabilitation, service users and social workers.      

Gender-based violence (GBV) is increasingly gaining local and international attention. South Africa has been experiencing high volume of GBV cases. Men are unable to report gender-based violence cases because of fears for discrimination, labelling and cultural norms. Traditionally, men are expected to be strong despite the difficulties experienced. Although there is high unequal implementation of programs and policies that caters for GBV, male victims continue to suffer because the societal perception, stigmatization, and discrimination. Notwithstanding the existing policies, men continue to become victims of gender-based violence at an alarming rate. Gender-based violence against men has disturbing effects which includes physical effects, mental health illness, sexual dysfunctionality suicide and femicide. Men significantly suffer gender-based violence which this leads to lack of self-expression due to societal expectations and finding it difficult to seek help and report about the abuse. This mostly results to divorce, homicides and other mental related problems. The purpose of the study was to explore the destructive effects of gender-based violence against men in South Africa. The study employed the qualitative research approach with exploratory research design adopted. A sample of 14 male victims of gender-based violence was chosen for the purpose of the study. The study used interviews with semi-structured interview schedule used to guide the session. Purposive sampling technique was used with thematic content used for data analysis process. Among the many effects experienced, the study established the physical, mental health problems, sexual dysfunctionality, suicide and homicide to be the main effects of gender-based violence against men. Family systems theory was found to be relevant in the study to understand the dynamics of gender-based violence.

This study sought to examine the correlation between the financial literacy of small business proprietors and the performance of their enterprises in the northern region of Tshwane Ga-Rankuwa.  The research utilised a quantitative methodology, employing a standardised questionnaire distributed to small business owners.  A quantitative methodology underpinned the study's aims in examining a potential association between financial literacy and business performance.  Data were examined via STATA/small enterprise, version 17.  Descriptive and inferential statistics were conducted to analyse the distribution of study participants and their financial literacy.  Multiple linear regression evaluated the relationships between predictor factors (socio-demographic characteristics and financial literacy) and return on assets.  The small firms reported low to moderate profits and elevated returns on assets (ROA).  Substantial correlations are present among family size, income level, and ROA, contesting the assumptions that education and experience are predictors of performance.  Financial performance exhibits good connections with financial literacy and access to financing; nevertheless, the minor associations with knowledge and attitude highlight crucial dimensions of performance.  Small firms must to seek methods to enhance profitability and invest in financial literacy.  Authorities ought to enhance access to funding for small firms and should evaluate the relevance and quality of education concerning its contribution to financial literacy.  The research demonstrated the significant influence of financial literacy and access on forecasting financial performance.  Nonetheless, the correlation between financial literacy, attitudes, and actual financial results was less pronounced than anticipated.

While floods and droughts are natural occurrences in the earth’s hydrological cycle, their escalating frequency and intensity have become a major concern for governments throughout the globe. Developing nations, such as South Africa, are weary of these extreme weather events because they understand they lack the necessary resources and infrastructure to deal with them. The eThekwini Municipality serves as a prime example of how vulnerable developing nations' regions are to the devastating effects of floods and droughts, as multiple floods have devastated the area, resulting in fatalities, damaging public infrastructure, and demolishing houses. The scale of the damage from the floods reveals that significant gaps exist in disaster preparedness in the eThekwini Region. Rainfall forecasting is a vital tool that has been underutilised that can be used preemptively to manage or mitigate flooding and enhance water resource management in the region. Machine learning models in particular are very useful in rainfall forecasting; hence, the goal of this study was to evaluate the most efficient models for forecasting precipitation in the eThekwini northern and central regions, which are coastal and inland areas, respectively. Rainfall data spanning 32 years was obtained from meteorological stations in both regions, and the SARIMA, ARIMA, and ETS machine learning models were used for rainfall forecasting and evaluated based on their ability to capture seasonal patterns, handle non-stationarity, and provide accurate predictions. Model performance was analysed, and comparisons were made using the root mean squared error (RMSE), mean absolute error (MAE), and mean absolute scaled error (MASE) as evaluation metrics. The study's findings indicate that the most effective models for both the northern and central regions were SARIMA (0,0,0) (2,0,0) [12] and SARIMA (1,0,0) (1,0,0) [12]. These findings provide valuable insights for meteorologists, hydrologists, and policymakers involved in regional climate modelling and water resource management.

The adoption of digital technologies in external auditing has become increasingly common and significant in the digital era, revolutionizing audit practices and offering several opportunities. This study explores whether the application of digital technologies in external auditing presents a double-edged sword, with the ability to transform and disrupt the audit profession. Through a comprehensive examination of the likely opportunities and challenges of the digital transformation of the external audit function, this study sought to provide an insightful discussion of the dual nature of the implications of digital technologies. The aim of this study is to not only provide a balanced assessment of the application of digital technologies in external auditing but also to recommend possible ways for auditors, auditee companies, and other stakeholders to reap maximum benefits from the use of digital technologies, including how these various stakeholders can navigate the associated challenges effectively. Opportunities stemming from the application of digital technologies include the enhancement of audit quality, improved accuracy in audit procedures, increased efficiency and effectiveness, heightened comprehensiveness and extensiveness in risk assessment, and an increased degree of confidence in the audited financial statements by stakeholders (reduction in the audit expectation gap). On the downside, challenges and risks concern the lack of or the need for new skills and competencies for auditors, technological complexities linked to digital technologies, cybersecurity risks, overdependence on technology affecting audit quality, audit evidence, professional skepticism, and the widening of the audit expectation gap. To maximize the possible benefits and minimize risks, this study recommends continuous professional development, capacity building through education, training and collaboration, better technology and data governance initiatives, and continuous assessment of risks.

This paper examines the current international taxation framework and its implications for African economies. The analysis highlights the economic consequences of the existing allocation of taxing rights, which often results in reduced revenue generation and exacerbated economic inequalities. The paper underscores the critical roles played by the African Union (AU) and the African Tax Administration Forum (ATAF) in advocating for fairer taxing rights for African countries. It also delves into potential technological and administrative solutions to enhance tax collection efficiency and effectiveness. A qualitative systematic literature review approach was adopted in the study. The findings reveal that the current allocation of taxing rights disproportionately favours residence countries, hindering African nation's ability to generate adequate tax revenues. This, in turn, impedes investments in essential public services and infrastructure. The paper emphasises the importance of equitable tax reforms, advocating for a reallocation of taxing rights that ensures a fairer distribution of tax revenues. Strengthening the capacities of tax administrations and investing in advanced technology for tax collection are also identified as crucial steps to improve the efficiency and fairness of the tax system. Key recommendations for policymakers include actively participating in international tax reform initiatives, advocating for source-based taxation, and fostering regional co-operation to enhance tax governance. Specific policy reforms suggested include implementing digital services taxes, enforcing anti-avoidance rules, and improving transfer pricing regulations. The paper concludes by calling for further research on the impact of specific tax policy reforms, the effectiveness of technological solutions, and the role of regional bodies in promoting equitable tax practices. These insights aim to contribute to the ongoing discourse on international taxation and support sustainable economic development in Africa.

The growth in the use of article-based theses, when compared to the traditional monograph-style thesis raises the question why students, supervisors and academic institutions are pursuing this particular route. This study explores the views of experienced supervisors involved in doctoral studies. The study aims to explore the advantages, disadvantages, caveats and various routes that doctoral students can take in completing their thesis. The study was exploratory in nature, employing a qualitative research design and made use of semi-structured interviews with nine doctoral supervisors from Canada. Data was collected from experienced doctoral supervisors from Canada, selected by means of a snowball sampling approach. Data was analysed by means of thematic content analysis. Findings show that supervisors preferred the sandwich-based thesis approach, as it allowed for more rapid time to completion. In addition, the main benefits for both institution and student included having a larger volume of published research output at the end of the doctoral supervision process, as well as more rapid career advancement owing to development of both research and soft skills. The finds hold value for universities who are considering an article-based thesis as an alternative to the traditional monograph style, as well as universities who have not used this option extensively. Findings also provide an impetus for supervisors and faculties in management education to adopt the article-based thesis approach more widely and rapidly owing to the multitude of benefits it holds. 

This article explores social network site (SNS) users’ understanding of the danger the integration of human intelligence and artificial intelligence (AI), termed “augmented intelligence,” presents.  Augmented intelligence, a subsection of artificial intelligence (AI), aims to enhance human intelligence with AI and is heralded as a significant step in problem-solving. A crucial concern is the profound threat to SNS users’ information security. A quantitative approach examined SNS understanding regarding the diffusion of augmented intelligence into SNS users’ spaces. An online survey was administered to 165 SNS users residing in the Gauteng province of South Africa.  Diffusion of Innovation (DOI) theory was used as the theoretical lens. Ethical clearance was obtained, and the data collected was anonymized and kept confidential. The article provides new insights that can help SNS users understand that a new threat to their information security in the form of augmented intelligence is emerging. Findings suggest that out of the five constructs drawn from DOI that explain the diffusion of augmented intelligence into sophisticated social engineering attacks, relative advantage, compatibility, and complexity were perceived by study participants as likely predictors of augmented intelligence adoption. Users, however, differed on exactly how the augmentation process was being achieved.

Organisations are experiencing significant transformations that necessitate modern strategies to maintain pace. Motivation has emerged as an essential element of the workplace for organisational success. Motivated employees are often more effective and productive in achieving corporate goals and objectives; nonetheless, this concept continues to pose a challenge for contemporary businesses. The research investigated the impact of motivation on staff efficiency and production inside a specific Fast-Moving Consumer Goods (FMCG) company in South Africa. Data were gathered through interviews utilising a non-probability quota sampling method from a sample of 11 people in a qualitative study. Thematic analysis was conducted on the data, facilitating the identification of patterns and the development of themes. The findings indicate that (i) the motivational strategies predominantly employed by the FMCG organisation pertain to the workplace environment, remuneration, well-being, and professional development; (ii) elements such as training and development, sense of belonging, equity and fairness, and career advancement significantly impact the efficiency and productivity of the study participants, with training and development being the most essential. Despite the beneficial effects of motivation, apprehensions arose regarding diverse training requirements and team management. The report advocates for a requirements assessment to identify and address skill deficiencies, prioritise good team management, cultivate a culture of continuous learning, and improve employee engagement through a sense of belonging, equity, justice, and career advancement. These proposals synchronise motivational tactics with organisational objectives, hence enhancing staff productivity and competitive edge. This study provides valuable insights into improving staff efficiency and productivity through motivation in the dynamic FMCG sector in South Africa, with extensive implications for managerial practices and employee engagement.

This study investigates the relationship between sectoral labour productivity and unemployment in South Africa by answering the question how has labour productivity across different sectors affected employment rates in South Africa? Both descriptive statistics and inferential statistics (Augmented Dickey–Fuller and Phillips-Perron tests and Autoregressive Distributed Lag Bound test and estimation techniques) were applied on obtained timeseries data for the period 1991-2022. The analysis surprisingly shows that none of the sectoral labour productivity variables contribute to unemployment reduction in the country. Plausible reasons for this finding include the adoption of automation and technological advancements in labour intensive, imbalance between rate of job loss in labour intensive sector and rate of job creation in the service sector during sectoral shifts and economic transition, and general lower purchasing due to unequal distribution of labour productivity gain and income inequality that could have boosted consumer demand, these measures can stimulate economic growth and job creation. Various recommendations are suggested to reduce unemployment in the light of these findings.