Economic events and key economic variables affect stock markets on a daily basis. Inflation is one such economic variable that influences share prices to some extent. This article…
Abstract
Economic events and key economic variables affect stock markets on a daily basis. Inflation is one such economic variable that influences share prices to some extent. This article focuses on two SADC countries, South Africa and Namibia, and measures the impact of inflation on share market prices in these countries. It can be concluded from the study that neither South African nor Namibian companies can offer investors a perfect hedge against inflation.
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Stephen loh Tangwe and Michael Simon
This paper aims to compute demand, consumption and other avoidance saving by replacing existing geysers with split and integrated type air source heat pump (ASHP) water heaters…
Abstract
Purpose
This paper aims to compute demand, consumption and other avoidance saving by replacing existing geysers with split and integrated type air source heat pump (ASHP) water heaters, to prove the potential of both ASHP water heaters in both winter and summer by virtue of their coefficient of performance (COP) during the vapour compression refrigeration cycles and to demonstrate that despite the viability of both split and integrated ASHP system, the latter exhibits a better performance in terms of its COP and achievable savings and load factor.
Design/methodology/approach
This research emphasised the use of the data acquisition system housing various temperature sensors, power metres, flow metre, ambient temperature and relative humidity sensor to determine electrical energy consumption and useful thermal energy gained by the hot water in a geyser and storage tanks of residential ASHP water heaters. The load factors, average power and electrical energy consumptions for the 150 L high-pressure geyser, a 150 L split and integrated type ASHP water heaters were evaluated based on the controlled volume (150, 50 and 100 L) of daily hot water drawn off.
Findings
The results depicted that the average electrical energy consumed and load factors of the summer months for the geyser, split and integrated type ASHP water heaters were 312.3, 111.7 and 121.1 kWh and 17.9, 10.2 and 16.7 per cent, respectively. Finally, the simple payback period for both the split and integrated type ASHP water heaters were determined to be 3.9 and 5.2 years, respectively. By the application of the Eskom’s projected tariff hikes over the years, the payback periods for the split and integrated ASHP water heaters could be reduced to 3.3 and 4.1 years, respectively.
Research limitations/implications
The experiments were conducted in a controlled outdoor research facility as it was going to be of great challenge in conducting both experiments simultaneously in a specific home. The category of the different types of ASHP water heaters was limited to one due to the cost implication. The experiment was also conducted at a single location, which is not a full representation of all the ambient conditions of the different regions of South Africa.
Practical implications
The experiments were done with a specific controlled volume of hot water drawn off from each of the three hot water heating devices. The experiments was structuring controlled to a specific volume of hot water drawn off and at specific period of the day and hence to not cater for random drawers and intermittent drawn off.
Social implications
The findings help to assure homeowners that irrespective of the type of ASHP water heaters installed in their residence, they can be guarantee of year-round performance and a favourable payback period provided their hot water consumption is over 200 L per day. Also, although the split type ASHP water heater performed better than the integrated system the cost of installation and maintenance will be higher in a split type in comparison to the integrated type. Finally, by successful implementation of either of the ASHP water heaters the home owner can substantially save of his hot water bill.
Originality/value
The experimental design and methodology is the first of its kind to be conducted in South Africa. The results and interpretation were obtained from original data collected from the set of experiments conducted. Also, the authors are able to show that the introduction of back up element in an ASHP unit to run simultaneously with the vapour compression refrigeration cycles of the ASHP can reduce the COP of the overall system.
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Stephen Loh Tangwe and Michael Simon
The purpose of this paper is fourfold: to experimentally determine the standby thermal energy losses in various hot water cylinders in both scenarios, without isotherm blanket…
Abstract
Purpose
The purpose of this paper is fourfold: to experimentally determine the standby thermal energy losses in various hot water cylinders in both scenarios, without isotherm blanket installation and with isotherm blanket installation; to analytically evaluate the performance of either the geyser, split- or integrated-type ASHP water heaters based on the number of heating up cycles and total electrical energy consumptions over a 24-h period without isotherm blankets and with isotherm blankets installed; to demonstrate the impact of the electrical energy factors of the split- and integrated-type ASHP water heaters under both the scenarios (without and with the isotherm blankets installed); and to use statistical tests (one way ANOVA and multiple comparison procedure tests) to verify whether any significant difference in the standby thermal energy losses occurred for each of the heating devices under both the scenarios.
Design/methodology/approach
The methodology was divided into monitoring of the performance of the electrical energy consumptions and ambient conditions of the hot water heating technologies without isotherm blanket installation and with isotherm blanket installation.
Findings
The results reveal that the average standby thermal energy loss of the geyser without the installation of an isotherm blanket was 2.5 kWh. And this standby loss can be reduced to over 18.5 per cent by just installing a 40-mm thick isotherm blanket on the tank. The statistical tests show a significant mean difference in the group electrical energy consumed to compensate for the standby losses under both scenarios. In contrast, the average standby thermal energy losses for the split- and integrated-type ASHP water heaters were 1.33 kWh and 0.92 kWh, respectively. There was a reduction of 15.5 per cent and 3.5 per cent in the electrical energy consumed in compensating for standby losses for both the split and integrated types, respectively, but there was no significant mean difference in the standby losses under both scenarios for the two systems. Again, without any loss of generality, the electrical energy factor of both the ASHP water heaters decreased upon installation of the isotherm blanks.
Research limitations/implications
The experiments were conducted only for a 150-L geyser and 150-L split- and integrated-type ASHP water heaters. The category of the different types of ASHP water heaters was limited to one because of the cost implication.
Practical implications
The experiments were not conducted with various hot water storage tanks installed in different positions (roof, inside or outside of a building wall, etc.) so that actual real-life observations could be obtained. The challenges of easy disassembling and deployment of systems and DAS to different positions were also a real concern.
Social implications
The findings can help homeowners and ESCO in deciding whether to install isotherm blankets on storage tanks of ASHP water heaters on the basis of the impact of standby losses and its potential viability.
Originality/value
The experimental design and methodology are the first of its kind to be conducted in South Africa. The results and interpretation were obtained from original data collected from a set of experiments conducted. The findings also show that the installation of isotherm blanket on an electric geyser can result in a significant mean reduction in the standby losses. In contrast, an installation of the isotherm blankets on the storage tanks of ASHP water heaters can reduce the standby losses, but there exists no significant mean difference.
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Maria Garbuzova‐Schlifter and Reinhard Madlener
The Russian Energy Service Company (ESCO) market emerges rapidly due to the new energy efficiency legislation that has been implemented since 2009. However, a clear identification…
Abstract
Purpose
The Russian Energy Service Company (ESCO) market emerges rapidly due to the new energy efficiency legislation that has been implemented since 2009. However, a clear identification of the Russian ESCOs, comparable to those operating on the basis of Energy Performance Contracting (EPC) in the Western markets, remains rather difficult. Hence, aside from the independent ESCOs identified, further energy service‐providing companies (ESPCs) are within the scope of this survey. This paper aims to address these issues.
Design/methodology/approach
Building on comprehensive qualitative research of the international and Russian academic and non‐academic literature on the ESCO concept and an expert interview, an explorative, questionnaire‐based survey among 161 Russian energy companies and organizations was conducted. A total of 28 usable responses were returned, corresponding to a response rate of 17 per cent. Non‐parametric exact tests are used for the statistical analysis.
Findings
The authors' findings show that only nine of the surveyed ESCOs have acquired energy performance‐based projects. In line with the new energy efficiency legislation, such projects are strongly supported in the state sector but much less so in the commercial sector. Most of the projects are financed either through ESCOs' own funds, direct loans to customers, or by the customers themselves. Russian banks, however, rarely provide direct loans for energy performance‐based projects of ESCOs, but rather prefer to offer financial leasing contracts. The contractual form “guaranteed savings”, which is generally more applicable in mature ESCO markets, is gaining in importance, while “shared savings” is barely used.
Originality/value
This paper delivers, to the best of the authors' knowledge, the first systematic empirical investigation of the Russian ESCO industry, taking into account experiences from the international ESCO markets.
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Alicia Fourie and Judith Mariette Geyser
Following a discussion of the case, students should be able to analyse competitive dynamics: provide an in-depth critical analysis of Ilco Farming’s microenvironment, using the…
Abstract
Learning outcomes
Following a discussion of the case, students should be able to analyse competitive dynamics: provide an in-depth critical analysis of Ilco Farming’s microenvironment, using the structure–conduct–performance framework; evaluate strategic positioning: conduct a SWOT analysis of Ilco Farming’s medicinal cannabis business; and develop strategic approaches: propose actionable strategies that would provide effective solutions to the problem of constrained market conditions currently faced by Ilco Farming.
Case overview/synopsis
Coenie and Ilse Venter established Ilco Farming, a cannabis farm located in the Viljoenskroon district in the Free State province in South Africa, in 2021. From the beginning, they poured their hearts and souls into their new venture, which soon paid off. A few short months after Ilco Farming began operating, despite the presence of other large competitors, Ilco Farming supplied a large share of the domestic medicinal market with flower heads. But then an unexpected challenge presented itself. In March 2023, Ilco Farming was operating at only 23% (600 m2) of its production capacity of 2600 m2 and had considerable room for growth, the local market – at least the local legal market – for cannabis began to show signs of saturation. Coenie and Ilsa found themselves at the proverbial crossroads, grappling with the crucial decision of how to secure their farm’s future in the face of a fast-saturating local (legal) cannabis market and a thriving (illegal) black market. Coenie and Ilse refused to entertain the idea of going the black market route, as they were unwilling to risk losing their operating licence. They calculated that the farm would reach breakeven point within the next two years, with profits unlikely during this period. Should they persist with their current strategy of producing high-quality products and delivering a superior service in the hopes of growing their market share? Or should they consider other strategic options? Coenie and Ilse were sitting at their boardroom table having a cup of coffee and looking out of the window at Ilco Farming’s impressive SAHPRA- and GAP-approved warehouse and tunnels. “What should we do?” they both wondered.
Complexity academic level
The case study can be used in postgraduate courses in microeconomics (PGDIP/MBA) and agricultural economics (PGDIP/MBA).
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 5: International business.
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This is indeed the age of revolution, when timeless attitudes are changing and new ways of living being born. To most it is a bewildering complex, with uneasy forbodirtgs of the…
Abstract
This is indeed the age of revolution, when timeless attitudes are changing and new ways of living being born. To most it is a bewildering complex, with uneasy forbodirtgs of the outcome. Improvement and change, there must always be—although change is not necessarily progress—but with unrest in the schools, universities and industry, one naturally questions if this is the right time for such sweeping reorganization as now seems certain to take place in local government and in the structure of the national health service. These services have so far escaped the destructive influences working havoc in other spheres. Area health boards to administer all branches of the national health service, including those which the National Health Service Act, 1946 allowed local health authorities to retain, were recommended by the Porritt Committee a number of years ago, when it reviewed the working of the service.
Parul Manchanda, Nupur Arora and Aanchal Aggarwal
Purpose: This study analyses the mediating effect of parasocial interaction (PSI) in the link between hedonic motivation and impulsive buying intention (IBI) in fashion vlogging…
Abstract
Purpose: This study analyses the mediating effect of parasocial interaction (PSI) in the link between hedonic motivation and impulsive buying intention (IBI) in fashion vlogging about sustainable cosmetics.
Need for the Study: Due to the mass popularity of YouTube, vlogging has led to an augmented level of PSI of vloggers with consumers, which strongly impacts a consumer’s behavioural consequences and persuades consumers to indulge in impulsive buying. Thus, marketers need to comprehend the changing behavioural patterns, including sustainable products, as this new communication medium serves the future of promotion and advertising.
Methodology: Online questionnaires were administered to 349 Gen Z female fashion vlog followers. Structural equation modelling and Hayes Process macros were employed to test the model relationships.
Findings: Results indicate that PI with the fashion vlogger partially mediates between hedonic motivation and impulse buying intention for sustainable cosmetic products. Fashion consciousness (FC) was also established as a significant moderator between all the model relationships.
Practical Implications: The findings of the study would be helpful for fashion brands in the content development of visual marketing communications, which would tap the female Gen Z consumer. Improving the PSI between the follower and the fashion vlogger can be easily enhanced by delivering the right content through the vlogger’s videos.
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Wooyoung (William) Jang, Wonjun Choi, Min Jung Kim, Hyunseok Song and Kevin K. Byon
This study aimed to understand better what makes esports fans engage with streamers' live-streaming of esports gameplay. This study used the Theory of Planned Behavior (TPB) and…
Abstract
Purpose
This study aimed to understand better what makes esports fans engage with streamers' live-streaming of esports gameplay. This study used the Theory of Planned Behavior (TPB) and additionally adopted streamer identification and esports game identification as moderating variables.
Design/methodology/approach
Data were collected from streamers' esports content streaming viewers over 18 years of age using an online survey in Amazon M-Turk (N = 307). Based on past esports live-streaming weekly watching hours, which range from 1 to 45 h, the participants were divided into lower (n = 152) and higher (n = 155) frequency groups. PLS-SEM and bootstrapping techniques were used to test the moderated mediation relationships among the constructs.
Findings
This study found a negative moderating effect of past watching experience on the relationship between attitudes and behavioral intention, and it positively moderated the path between perceived behavioral control and behavioral intention. Also, it was found statistically significant direct impacts of streamer identification (STI) and esports game identification (EGI) on attitude and subjective norms. While the indirect impact of STI on behavioral intention through attitude was statistically significant, there were no significant indirect impacts of EGI on attitude and behavioral intention through subjective norms.
Originality/value
Theoretically, this study extends the TPB model by exploring the two identifications (i.e. streamers and esports games) as antecedents of the focal TPB factors (i.e. attitudes, subjective norms and perceived behavioral control) and the moderating effect of prior experience based on high/low weekly watching frequencies. Practically, content creators of esports live-streaming and live-streaming platform managers can use the study’s findings to develop strategies to nurture their current and future viewership.