Combining efficiency with ROA: indicator of future relative performance - South African banking groups

Bank financial performance and relative future financial performance are important issues to stakeholders like management, shareholders, investment analysts and portfolio managers. This paper provides evidence that bank financial performance expressed as return on assets (ROA) figures that are adjusted according to relative income and expenditure efficiency provide fundamental measures of performance that have a causal link with future profits and can be utilised in estimating future financial performance. The methodology applied in this research consists of empirically investigating the annual changes in the ROAs of the nine listed South African Banking Groups over the period 2000 to 2008. The study consists of a two stage process. Data envelopment analysis (DEA) is conducted and resultant DEA scores are combined with the calculated ROAs of banks to provide efficiency adjusted ROA. The findings of this research paper shows that combining the CRS efficiency of bank groups with ROA provides a more reliable measure of future financial performance than just conventional ROA figures and efficiency figures

Sharepricing of South African banking groups: importance of efficiency and earnings per share

Previous research findings indicate that the relevant performance of firms is one way or another, reflected in the market prices of shares. Such research is focussed on different performance components of firm individual risk (FIR), but none of the research segregates systematic and unsystematic risk of the shares to levels where the relative FIR components that were researched could be quantified in proportion to FIR level share price determinants. This brings about the objective of this research to segregate the pricing of shares in terms of market and firm specific factors with the intention to quantify the association of relative bank efficiency and earnings performance with the pricing of South African bank shares. The study draws a parallel between the actual significance of measured efficiency and earnings per share (EPS) with share pricing and quantified FIR. Within this context the comparative significance of measured efficiency and EPS are explored to investigate the Efficient Market Hypothesis (EMH) prevalence. An analysis of efficiency and share price relationships at different financial year time points shows a semi-strong form of the EMH in both the pre-Global Financial Crises (GFC) and GFC periods. This indicates that the application of an active investment strategy by investors based on efficiency measures may be beneficial. The impact of EPS as contributing determinant of share prices increased during the GFC period compared to the pre-GFC period, but reflects a strong form of the EMH

A review of 367 triplet pregnancies

CITATION: Deale, C. J. C. & Cronje, H. S. 1984. A review of 367 triplet pregnancies. South African Medical Journal, 66:92-94.The original publication is available at http://www.samj.org.zaQuestionnaires were sent to 452 hospitals in the RSA and SWA/Namibia requesting information on triplet pregnancies over a 10-year period. Information on 367 sets of triplets from 150 hospitals was adequate for analysis. The incidence of triplets was 0,04% of all deliveries. As many as 45% of triplets were diagnosed during the first or second stage of labour. These infants had a significantly lower birth weight than those diagnosed at an antenatal clinic (P <0,01). The mean birth weights of babies that died in utero or neonatally (within 7 days) were significantly lower than those in survivors (P <0,0001). Caesarean section was the delivery method for 14% of 1002 infants and perinatal mortality was improved for the second and third babies in comparison with second and third babies delivered vaginally (P <0,003 and P <0,002 respectively). It is concluded that the diagnosis of triplets should be made at the earliest possible stage of pregnancy, and that following adequate antenatal care all triplets should be delivered by caesarean section, except under ideal uncomplicated conditions where vaginal delivery may be feasible.Publisher’s versio

Management of anterior vaginal prolapse in South Africa : national survey

LetterThe original publication is available at http://www.samj.org.zaTo the Editor: A national survey was done on the management of anterior vaginal prolapse (AVP) by registered gynaecologists and urologists in South Africa. Of 822 questionnaires posted, 30.2% were returned completed (23.2% from gynaecologists and 7.0% from urologists). The information supplied was anonymous and is probably a true reflection of current practice. Of concern were the 36.3% of respondents who did not use a recognised staging system, a low rate of pre-operative urodynamic investigation by gynaecologists (8.4%) and a high rate of synthetic mesh use by urologists (75.9%), even for primary procedures. This first survey among South African prolapse surgeons provides valuable insight into clinical practice.Publishers’ versio

Prediction of ‘Nules Clementine’ mandarin susceptibility to rind breakdown disorder using Vis/NIR spectroscopy

The use of diffuse reflectance visible and near infrared (Vis/NIR) spectroscopy was explored as a non-destructive technique to predict ‘Nules Clementine’ mandarin fruit susceptibility to rind breakdown (RBD) disorder by detecting rind physico-chemical properties of 80 intact fruit harvested from different canopy positions. Vis/NIR spectra were obtained using a LabSpec® spectrophotometer. Reference physico-chemical data of the fruit were obtained after 8 weeks of storage at 8 °C using conventional methods and included RBD, hue angle, colour index, mass loss, rind dry matter, as well as carbohydrates (sucrose, glucose, fructose, total carbohydrates), and total phenolic acid concentrations. Principal component analysis (PCA) was applied to analyse spectral data to identify clusters in the PCA score plots and outliers. Partial least squares (PLS) regression was applied to spectral data after PCA to develop prediction models for each quality attribute. The spectra were subjected to a test set validation by dividing the data into calibration (n = 48) and test validation (n = 32) sets. An extra set of 40 fruit harvested from a different part of the orchard was used for external validation. PLS-discriminant analysis (PLS-DA) models were developed to sort fruit based on canopy position and RBD susceptibility. Fruit position within the canopy had a significant influence on rind biochemical properties. Outside fruit had higher rind carbohydrates, phenolic acids and dry matter content and lower RBD index than inside fruit. The data distribution in the PCA and PLS-DA models displayed four clusters that could easily be identified. These clusters allowed distinction between fruit from different preharvest treatments. NIR calibration and validation results demonstrated that colour index, dry matter, total carbohydrates and mass loss were predicted with significant accuracy, with residual predictive deviation (RPD) for prediction of 3.83, 3.58, 3.15 and 2.61, respectively. The good correlation between spectral information and carbohydrate content demonstrated the potential of Vis/NIR as a non-destructive tool to predict fruit susceptibility to RBD

The contribution of coaching and mentoring to the development of participants in entrepreneurial development programmes

CITATION: van Coller-Peter, S. & Cronjé, J. 2020. The Contribution of Coaching and Mentoring to the Development of Participants in Entrepreneurial Development Programmes. International Journal of Evidence Based Coaching and Mentoring, 18(2):51-67. doi:10.24384/bg74-fc70The original publication is available at https://radar.brookes.ac.uk/radar/items/b6bb9783-f20a-44f6-9e07-f9bdf4437eb1/1/A significant need among small and medium enterprises is the transfer of skills, specifically business acumen, through mentorship and coaching. Despite the similarities between coaching and mentoring, it is important to understand the different contributions that coaching and mentoring can make to the development of entrepreneurs. The findings of this qualitative study acknowledge the different contributions of coaching and mentoring to participants at the University of Stellenbosch Business School’s (USB) Small Business Academy. It is therefore recommended that coaching and mentoring should be defined separately and differently within the context of the USB Small Business Academy’s Development Programme and similar entrepreneurial development programmes.https://radar.brookes.ac.uk/radar/items/7eea93d3-a316-4242-be40-0c9b11997bd4/1/Publishers versio

Studies of apple bud dormancy and branching under conditions of inadequate winter chilling

Thesis (MScAgric)--University of Stellenbosch, 2002.ENGLISH ABSTRACT: In order to study the dormancy of apple buds in conditions of inadequate chilling a number of trails were done during 2000 and 2001. Year-old, unbranched shoots of 'Royal Gala', 'Braeburn', 'Cripps' Pink' and 'Granny Smith' apple were harvested randomly from bearing commercial orchards in the Koue Bokkeveld [33°S, 945m, ca.1300 Utah model chili units (CU)) and Elgin (34 "S, 305m, ca.750CU) regions of the Western Cape, South Africa, respectively. Shoots were chilled at 5-rC. Two replicate bundles were removed from the cold room, prepared and forced at 25°C with continuous illumination until budburst had occurred on at least 25% of the shoots per bundle. The change in the rate of budburst over time was calculated for each orchard and to this response; either a linear or a quadratic function was fitted. Poorly correlated variables were selected that best describe these functions. Using these variables, the orchards were separated into cluster groupings that represented a dormancy pattern. The first split separated the lower chilling requirement cultivars from the higher cultivars. The second and third split separated the orchards according to area differences. The clusters representing the warmer area orchards initially entered deeper into dormancy before exiting. The clusters for the colder area immediately had an increased budburst rate. This data confirm that the chilling requirement includes a period of dormancy induction. An important genotype and environment interaction, other than cold unit accumulation, was observed that could be responsible for terminating bud dormancy. Terminal apple buds from 'Royal Gala' Braeburn', 'Cripps' Pink' and 'Granny Smith' apples were cut from orchards in the Koue Bokkeveld and Elgin regions of the Western Cape, South Africa. Buds were harvested every two weeks during the dormant period. The buds were cut in half and leaf scales removed before the water potential were measured. Fresh and dry weights of the buds were also determined. The data presented confirms the changes in availability of free water in dormant buds and that it could be measured in this way. A definite influence of temperature was illustrated. The water potential from buds in a cold production area (Koue Bokkeveld) behaved more "normally" - water is in a bound form during most of the winter and change to an available form later in winter - whereas buds from a warmer production area did not change much in water potential or content. In the trial, two-year-old proleptic-branched shoots, ca. 500mm long, were selected from a 'Royal Gala' orchard in the Koue Bokkeveld region in the Western Cape, South Africa. During the dormancy period of 2000, shoots received two cold treatments; chilling in a cold room at 5-7°C and the natural chilling received in the field. In 2001, the trail was repeated, but only with the field chilling. The shoots received five dormant pruning treatments: control (not pruned), pruning back to the fourth lateral (heading) before or after chilling; and removal of the 2nd and 3rd laterals (thinning) before or after chilling. After pruning and chilling treatments, the shoots were removed from the orchard or cold room every two weeks and forced in a growth chamber. The rate of bud burst (1/days to 50% bud burst) was calculated for the terminal buds of the lateral shoots. Laterals were categorisation according to position: the terminal extension shoot, the 4th lateral, and all other laterals were pooled. Removing distal tissue by pruning (heading more than thinning) promoted bud burst on laterals. Pruning before chilling was more effective than after chilling. The correlative phenomena that inhibit bud burst on proximal shoots within two-yearold branches were manipulated by pruning. The branching response of one-year-old unbranched shoots, 0.5m long, from 'Royal Gala' and 'Cripps' Pink' apple and 'Rosemary' pear were studied after physical manipulation treatments. Shoots for treatment a to d were re-orientated from either a horizontal or vertical position or left in the original position as control, treatment e to h involved the same re-orientation of shoots and were headed. The amount of growth (in mm) from each node was recorded as well as the position from the terminal bud. The 'Cripps' Pink' had a definite shift in the acrotonic branching pattern (for headed and unheaded), towards a more basitonic response. The reduced effect on 'Royal Gala' and 'Rosemary' suggest a difference in genotype response to the treatments as well as time of treatment.AFRIKAANSE OPSOMMING: Ter wille van die navorsing oor die invloed van gebrekige koue op dormansie van apple knoppe en die gepaardgaande probleme is 'n reeks proewe gedoen gedurende 2000 en 2001. Jaar oue onvertakte lote van 'Royal Gala', 'Braeburn' , 'Cripps' Pink' en 'Granny Smith' appels is ewekansig geoes vanaf komersieële boorde in die Koue Bokkeveld [33°S, 945m, ca.1300 Utah koue eenhede (CU)] en Elgin (34°S, 305m, ca.750CU) omgewings van die Wes Kaap , Suid Afrika. Die lote is daarna verkoel gehou by 5- 7°C. Lote is elke twee weke vanuit die koue kamer geneem en geforseer met 25°C en deurlopend belig. Die aantal knoppe wat groenpunt bereik het is genoteer totdat 25% van die lote begin bot. Die verandering oor tyd vir elke boord is bereken en 'n liniëre of kwadratiese funksie is daarop gepas. Swak gekorreleerde waardes is gekies wat die funksies die beste beskryf. D.m.v hierdie die waardes is die boorde in groepe ingedeel wat 'n dormansie patroon verteenwoordig. Na die eerste vedeeling is die hoë en lae koue behoefte kultivars geskei. In opvolgende verdelings is die boorde verder in die twee areas geskei met elk 'n spesifieke dormansie patroon. Die groepe wat die warmer area se boorde bevat het aanvanklik dieper in dormansie in beweeg voor dit 'n styging in groei potensiaal getoon het. Die groepe vanaf die kouer produksie area het onmiddelik 'n verhooging in bot tempo getoon. Die data bevestig dat 'n koue behoefte 'n periode van dormansie induksie insluit. 'n Belangrike kultivaromgewing- interaksie, ten spyte van koue eenhede akkumulasie, is waargeneem wat verantwoordlik kan wees vir beëindiging van dormansie. Om die verandering van water status in dormante appel knoppe te bestudeer, was die volgende proef uitgevoer. Terminale apple knoppe van dieselfde vier kultivars en vanaf die selfde twee areas in die Wes Kaap as bogenoemde, is elke tweede week gedurende die winter 2001 gesny vanaf komersieële boorde. Daarna is die knoppe middel deur gesny en die skudblare verwyder voor die vars massa gemeet en daarna die waterpotensiaal bepaal is. Die data het bevestig dat daar veranderings in beskikbaarheid van vry water in dormante knoppe gedurende dormansie plaasvind. 'n Definitiewe invloed van temperatuur op waterpotensiaal is geïllustreer. Die waterpotensiaal van knoppe in die kouer produksie area toon 'n meer normale respons (gedurende die winter is die water in 'n gebonde vorm, wat later in die winter na vry water verander). Daar teenoor is daar in die knoppe van die warm produksie area nie veel verandering in waterpotensiaal of water massa getoon nie. Gedurende die winter van 2000 is twee jaar oue proleptiese vertakte 'Royal Gala' lote, ongeveer 500mm lank, gekies vanaf 'n boord in die Koue Bokkeveld. Die lote is verdeel en het twee koue behandelings ontvang. Koue kamer by 5-T'C en natuurlike koue in die boord. In 2001 is net die natuurlike koue behandeling herhaal. Daar is vyf dormante snoei behandeling op die lote gedoen; kontrole (geen), snoei terug tot die vierde lateraal voor en na die koue; verwydering van die 2de en 3de laterale voor en na koue. Na koue en snoei is die lote verwyder en in die groeikamer geforseer by 25°C en met konstante illuminasie. Die tempo waarteen die laterale gebot het is bereken (1\dae to 50% groen punt) waarna die laterale in klasse gedeel is; terminale knop, die vierde lateraal en die res van die laterale saam. Verwydering van distale weefsel d.m.V. snoei verhoog die tempo waarteen laterale knoppe groenpunt bereik. Snoei voor die koue behandeling was meer effektief as daarna. Die korrelatiewe fenomeen wat bot inhibeer van proksimale lote kan gemanipuleer word in die twee jaar apple loot. Die vertakkings gedrag van een jaar oue onvertakte 'Royal Gala', 'Cripps' Pink' apple en 'Rosemary' peer lote, 0.5m lank, is ondersoek na fisiese manipulasies gedoen is gedurende mid winter 2000. Vir die eerste vier behandelings (a,b,c,d) is die lote in 'n horisontale of vertikale possisie gelos as kontrole, of horisontale of vertikale gebuig en daar gehou d.m.v. binddraad. Behandelings e tot h het dieselfde behels maar die lote is ook nog in die helfte deur gesny (getop). Die hoeveelheid groei in mm vir elke node is aangeteken asook die posisie vanaf die terminale knop. Die 'Cripps' Pink' het 'n definitiewe veskuiwing vanaf 'n akrotoniese na 'n basitoniese vertakkingspatroon getoon. Die reaksies op die manipulasies of die gebrek daaraan ('Royal Gala' en 'Rosemary' ) kan 'n aanduiding wees dat genotipes verskillend reageer op die behandelings asook op die tyd wat dit gedoen was

Daily or weekly? The role of treatment frequency in the effectiveness of grammar treatment for children with specific language impairment.

This study compared the effectiveness of a school-based treatment for expressive grammar in 5-year-olds with specific language impairment delivered in two different dose frequencies: eight sessions delivered daily over 8 consecutive school days or eight sessions delivered weekly over 8 consecutive weeks. Eighteen children received treatment daily and 13 children received treatment weekly. In both groups, treatment consisted of eight 1-hour sessions of small group activities in a classroom setting. Techniques included explicit instruction, focused stimulation, recasting, and imitation. Results were analysed at the group level and as a case series with each child as their own control in a single-subject design. The 8-weeks group showed significantly greater gain in test scores over the treatment period than in an equal time period prior to treatment, whereas the 8-days group did not (Cohen's d = 1.64 for 8-weeks group). Single-subject analyses indicated that 46% of children in the 8-week group and 17% of children in the 8-day group showed a significant treatment effect. It is concluded that expressive grammar treatment was most effective when dose frequency was weekly over 8 weeks rather than daily over 8 days for 5-year-old children with specific language impairment.13 page(s