Mortgage Finance in Central and Eastern Europe: Opportunity or Burden?

Household credit, especially for mortgages, has doubled over the past years in the new European Union member countries, raising concerns about the economic and social consequences of household indebtedness in the event of a macroeconomic crisis. Using household survey data for 2005, 2006, and 2007 for both old and new European Union members, this paper assesses the determinants of access to mortgage finance. It also examines whether mortgage holders were more likely to suffer financial distress compared with non-mortgage holders in the period before the global financial crisis. The analysis does not find any systematic evidence that mortgage holders are financially more vulnerable than renters or outright owners; in fact, the incidence of financial vulnerability generally fell between 2005 and 2007, possibly reflecting the strong income growth experienced by these countries over this period. In addition, although tenure status is more difficult to explain in the new European Union member countries, the analysis finds that many of the same drivers of tenure status in the older member countries generally drive tenure status in the newer member countries as well. Finally, there is no evidence that access to mortgage credit is based on expected income in the old or in the new European Union member countries.household credit, housing finance, financial vulnerability, EU accession

Exploring the role of the physiotherapy clinical educators in the clinical setting in Uganda

Magister Scientiae (Physiotherapy) - MSc(Physio)Clinical education is considered a cornerstone of the healthcare professionals’ education including physiotherapists. Clinical education involves translation of theoretical knowledge into practical skills, facilitated by clinical educators whose roles vary from place to place. The clinical educators’ roles have a number of facilitators as well as barriers and these have been minimally evaluated globally and locally, including Uganda. Therefore, the aim of the study was to explore and describe the perception of the physiotherapists regarding their role as clinical educators and to identify the barriers to and facilitators for physiotherapy clinical education at the national and regional referral hospitals in Uganda

Informal finance for the middle and high income individuals in South Africa : a case study of high budget "stokvels" in Pretoria

This study was undertaken to investigate the major reasons behind the use of informal financial services by middle and high-income individuals in South Africa with specific reference to rotational savings and credit associations, locally known as stokvels. The ultimate aim was to recommend ways in which banks and other formal financial institutions could aptly address the financial needs of these individuals. The study was conducted in Pretoria, which is situated in the Gauteng province of South Africa. The data for this research was mainly gathered through two focus group discussion techniques, namely: the discussion guide and product attribute raking (PRA). Two mini questionnaires were also used to collect personal information from the participants. The research revealed three major categories of high-budget stokvels namely: the generic,targeted saving and investment stokvels. The main users of these stokvels are black males and females with a monthly income of R11 500 or more. They are typically individuals of 31 to 49 years of age. They are highly educated individuals holders of qualifications equivalent to a university degree or higher. Further analysis of the participants in this sample revealed a tendency for the stokvels to be formed along gender, workplace/colleague and kinship lines. The study shows that in addition to social fulfilment, the major financial need satisfied by these stokvels is saving to accumulate a lump sum for a birthday party, holiday or consumer goods and to take advantage of investment opportunities. The study identified the following specific reasons behind the participation in highbudget stokvels; to take advantage of collective/forced saving, avoid financial charges, low returns on small amounts of individual savings in banks and social fulfilment. The findings highlight the formal financial institutions¡¦ lack of awareness for the need to profile, design appropriate products and delivery systems for the black middle and highincome clients in South Africa. The study also shows that banks do not really understand this clientele. The study findings necessitate profile targeting, achievable through ongoing and comprehensive research in the product and service requirements of this clientele. The suggested research will enable formal financial institutions to improve service provision, as well as to identify and design products for this clientele. The study calls for the following changes in formal financial institutions: Increased investment in self-service banking Bank staff should be trained to sensitise them to the financial, social needs and expectations of this clientele In addition, banks should strive to accelerate the employment of staff fluent in several indigenous languages and increase use of indigenous languages in formal financial institutions Banks and formal financial institutions in general, should endeavour to design products and product delivery systems that address the social needs of clients. Increased investment in social responsibility and visibility of formal financial institutions in black townships. Finally, the study recommends that if formal financial providers are to participate in this lucrative market, it is imperative that they emulate the principles on which informal financial institutions such as high-budget stokvels operate.Dissertation (M Inst Agrar (Agricultural Economics))--University of Pretoria, 2007.Agricultural Economics, Extension and Rural DevelopmentM Inst Agrarunrestricte

Mission statement and management of private tertiary religious institutions in Eastern and Southern Africa

The region of Eastern and Southern Africa has recently experienced an unprecedented development of private tertiary institutions. Most of these institutions are established by religious organisations which, since the inception of education, have been involved in operating educational institutions of lower levels. Although referred to as private institutions, which by definition would imply funding other than the government sources, these private institutions find themselves, at times requesting the government to fund their development as well as their operations. This study sought to investigate if these private religious institutions have unique raison d'etre expressed in the form of mission statements. The study also investigated the nature of their management and the management structures in practice. The literature reviewed indicated that private religious institutions have a unique mission based on their basic concept of education and their world view. They seek to pursue and inculcate specific values. Operating in a competitive environment, however, in which their competitors do receive funding from the government makes the private institutions vulnerable to hardships. The study was conducted using qualitative research approach in three countries, namely Kenya, Uganda and Zimbabwe; involving all degree granting recognised private religious institutions in the sample and focussing on the management. The respondents were chosen by elite purposive and snowball sampling. The main data collection method was the interview. However, document analysis, observations, and a questionnaire were also used. The findings from the data indicate that private religious institutions have unique missions although they are, at times, not expressed in the form of mission statements. As a result some of the stakeholders, including those involved in management, don't get to know what their institutions' missions are. The study concludes by emphasising the development of clear mission statements involving the stakeholders in the process and having the mission statements widely disseminated. It is also recommended that training in management is important for the managers of the institutions at the various levels. A model of management is proposed for streamlining the management of the institutions considering the requirements of the national governments as well as those of the religious proprietors.Educational StudiesD. Ed. (Educational Management

CONCEPÇÕES ESTÓICAS EM TROIANAS DE SÊNECA

A tragédia de Sêneca evoca, para além dos dramas gregos que servem de base para os seus enredos, um conjunto de concepções filosóficas a respeito da melhor maneira de enfrentar a dor e o sofrimento. Sendo assim, há aspectos retóricos estóicos no drama senequiano, em especial na peça Troianas. Este artigo visa demonstrar e analisar tais concepções estóicas na peça em questão

POR UMA FILOSOFIA DE ENFRENTAMENTO DAS EPIDEMIAS (OU MANIFESTO CONTRA A SÍNDROME DE PAMPINEIA)

Este artigo aborda a partir do motivo literário que serve de embreador para o Decamerão de Boccaccio, a temática do enfrentamento das epidemias. Apresenta-se neste artigo o desenvolvimento do que se tornará a filosofia moral e depois o utilitarismo em uma perspectiva crítica. Ao fim, destaca-se os mecanismos para a precarização da vida em situações pandêmicas e os meios para a superação de tal precarização, em favor dos direitos e da dignidade de cada pessoa humana

Analysis of leadership styles and school performance of secondary schools in Uganda

The study sought to analyze the leadership styles of head teachers and school performance of secondary schools in Uganda. It was a mixed study that used both the qualitative and quantitative methods. It adopted a correlation survey research design that helped in establishing the relationship of leadership styles and school performance. In this regard, data for this study was collected on the independent variable, which was leadership styles, and that of the dependent variable, which was school performance. The relationship between the two variables was investigated in order to determine the strength of their relationship and the coefficients of determination existing between them. Together with observations during school visits, interviews were also conducted with head teachers and teachers and focused group discussions were held with selected students and parents, to identify factors affecting school performance and the effectiveness and relationship between leadership styles and school performance. The researcher discovered on the basis of an extensive literature review and the in-depth research undertaken that head teachers adopt a range of leadership styles. However, for the purposes of this investigation, the researcher examined the relationship between leadership styles in general and school performance, and later analyzed four leadership styles in relation to school performance. v While noting the many challenges and demands made on the head teachers during the execution of their tasks, the study underscored the need for the development of management and leadership skills amongst head teachers. The study established that unless head teachers are well equipped with knowledge and skills in management and leadership, they would not be able to improve school performance significantly. The study established that effective school performance requires visionary leadership, amongst others, and that there is a strong relationship between visionary leadership and transformational leadership, which is recommended for education leaders

MEDIATING EFFECTS OF CUSTOMER SATISFACTION AND WORD-OF-MOUTH ADVERTISING ON THE RELATIONSHIP OF QUALITY OF PRODUCTS AND SERVICES TO LOYALTY

This study sought to determine  the mediating effects of satisfaction  and word-of-mouth advertising on the relationship of quality service and customer loyalty among selected fine dining restaurants in Paseo de Sta. Rosa.   The research made use of the descriptive correlational research design, an appropriate method to investigate and describe the nature of a situation as it exists at the time of the study. Structural Equation Modeling (SEM) was used to determine  the mediating effects of customer satisfaction and word of mouth advertising on the relationship of the quality of products and services to loyalty among restaurant customers in Paseo de Santa Rosa. Quality of products and services of the fine dining  restaurant was excellent, customers’ satisfaction towards their products and services was perceived to be high, word-of-mouth advertising was perceived to be often, and the loyalty of customers was perceived to be likely. Quality of products and  services was significantly related to word-of-mouth, customer satisfaction and loyalty. Furthermore, customer satisfaction was significantly related to loyalty. However, word-of-mouth advertising was not significantly related to loyalty. Based on the findings, the best path generated by the AMOS was both customer satisfaction and word-of-mouth as predictors of loyalty.  Therefore, customer satisfaction and word- of-mouth had mediating effects on the relationship of quality of products and services and loyalty