The role of banks: Evidence from Germany and the US

In the discussion about the structure and evolution of financial systems, the US separated and the German universal banking system are commonly considered as antipodes. This paper shows that the differences in the role of banks in these two economies are less pronounced than the conventional wisdom suggests. Furthermore, prevailing differences can be explained by a number of factors other than banking regulations. Hence, the distinction which is commonly drawn between universal and separated banking systems can be misleading and tends to underrate the ongoing convergence between the systems.

Scenarios for the South African Water Sector in 2025

In 2008 the Water Research Commission initiated a project to develop ‘Water Sector Institutional Landscape in 2025 Scenarios’. The aim was to build knowledge about key drivers and uncertainties related to the future of the South African water sector. A diverse group of stakeholders contributed to the development of the drivers, which translated into different scenarios and associated stories that have potential implications for social and economic development, as well as for the management of water resources and water services. The four scenarios were derived from a matrix with two axes that represent the ability of the decision-making paradigm of water institutions to deal with complexity, and the reconciliation of environmental, social and economic demands of present and future generations (sustainability). The Wise Tortoise scenario describes a sector which deals with complexity and is sensitive to sustainability issues, whereas the Ignorant Ostrich scenario describes the opposite conditions. The Greedy Jackal and Busy Bee scenarios describe the other combinations of the key drivers. The scenarios provide stakeholders and policy-makers in South Africa’s water sector with insights to strengthen decision-making and to counter undesirable trajectories of change. The knowledge will empower role players in the water sector to engage in participative governance by equipping them with insights into potential futures that the South African water sector may face. This paper reports on the process to develop these scenarios for the South African water sector institutional landscape in 2025, presents the key forces, introduces the stories, and reflects on the use of scenarios in the water sector.Keywords: Scenarios, water sector, South Africa, water institutions, water future

Vulnerability and Trust in Leader-Follower Relationships

Purpose – Vulnerability is a concept that lies at the core of the most prevalent academic trust definitions. Accordingly, a vast amount of scholars refers to vulnerability when studying trust. Surprisingly, there is almost no conceptual nor empirical work explicitly directed at understanding vulnerability itself. The purpose of this paper is to summarize and critique the existing base of knowledge of vulnerability with a particular focus on the leader-follower relationship and to open avenues for future research. Design/methodology/approach – In the process of a very systematic literature search, the authors identified 49 studies that refer to vulnerability when studying trust at the interpersonal level. The authors coded the literature into conceptualizations, antecedents and consequences of vulnerability – with a particular focus on the leader-follower relationship. Findings – The authors introduce a theoretical framework which allows the authors to structure the rather fuzzy discussed concept of vulnerability. The development of such a theoretical framework allows the authors to distinguish between trusting beliefs and actual trusting behaviour so that it is possible to separate the constructs of willingness-to-be-vulnerable and actual vulnerability. Research limitations/implications – With the help of the developed framework, the authors point to the need for more work on vulnerability in order to take the study of trust to the next level. In this respect, the authors formulate several propositions that should be tested in future research. Practical implications – Practitioners are made aware of the need to risk willingness to be vulnerable as a base for trusting behaviour. There is no way around being willing to be vulnerable. Originality/value – This literature review provides a holistic understanding of the concept of vulnerability. The intention is to show the different understandings and interpretations of this term within the literature and identify which antecedents and consequences are related to the concept of vulnerability. </jats:sec

The relationship between personality types and reward preferences

Abstract: Research has shown that total rewards models structured according to individual preferences, positively influence efforts to attract, retain and motivate key employees. Yet, this is seldom done. Structuring total rewards models according to the preferences of employee segments is a viable alternative to accommodate individual preferences. Research purpose: The primary aim of the study was to determine the relationship between personality types and reward preferences. The secondary aim was to determine the reward preferences for different demographic groups. Motivation for the study: An enhanced understanding of reward preferences for different employee segments will enable employers to offer more competitive reward options to their employees. This may, in turn, have a positive impact on retention. Research design, approach and method: Two measuring instruments, the MBTI® Form GRV and the Rewards Preferences Questionnaire, were distributed electronically to 5 000 potential respondents. The results from 589 sets of questionnaires were used in the data analyses. Primary and secondary factor analyses were done on the items in the Rewards Preferences Questionnaire. Main findings/results: The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework influenced by the most prominent preferences for reward categories, was designed..

The relationship between personality types and reward preferences

Abstract: Research has shown that total rewards models structured according to individual preferences, positively influence efforts to attract, retain and motivate key employees. Yet, this is seldom done. Structuring total rewards models according to the preferences of employee segments is a viable alternative to accommodate individual preferences. Research purpose: The primary aim of the study was to determine the relationship between personality types and reward preferences. The secondary aim was to determine the reward preferences for different demographic groups. Motivation for the study: An enhanced understanding of reward preferences for different employee segments will enable employers to offer more competitive reward options to their employees. This may, in turn, have a positive impact on retention. Research design, approach and method: Two measuring instruments, the MBTI® Form GRV and the Rewards Preferences Questionnaire, were distributed electronically to 5 000 potential respondents. The results from 589 sets of questionnaires were used in the data analyses. Primary and secondary factor analyses were done on the items in the Rewards Preferences Questionnaire. Main findings/results: The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework influenced by the most prominent preferences for reward categories, was designed..

Transcatheter management of adult aortic coarctation with “Railway” technique

We report the case of a 21-year-old man with complete atresia of the aorta who underwent percutaneous aortic intervention and successfully recanalize the atresia of the aorta with the artery “Railway” technique. A fully atretic aorta poses a challenge for a percutaneous solution and is often subject to open repair, considering the risk of perforation and technical failure. However, our case demonstrates that a strategic and structured approach is safe and successful to even tackle complete aortic atresia without complications such as rupture or bleeding

Comorbidity in context: Part 1. Medical considerations around HIV and tuberculosis during the COVID-19 pandemic in South Africa

Infectious diseases pandemics have devastating health, social and economic consequences, especially in developing countries such as South Africa. Scarce medical resources must often be rationed effectively to contain the disease outbreak. In the case of COVID-19, even the best-resourced countries will have inadequate intensive care facilities for the large number of patients needing admission and ventilation. The scarcity of medical resources creates the need for national governments to establish admission criteria that are evidence-based and fair. Questions have been raised whether infection with HIV or tuberculosis (TB) may amplify the risk of adverse COVID-19 outcomes and therefore whether these conditions should be factored in when deciding on the rationing of intensive care facilities. In light of these questions, clinical evidence regarding inclusion of these infections as comorbidities relevant to intensive care unit admission triage criteria is investigated in the first of a two-part series of articles. There is currently no evidence to indicate that HIV or TB infection on their own predispose to an increased risk of infection with SARS-CoV-2 or worse outcomes for COVID-19. It is recommended that, as for other medical conditions, validated scoring systems for poor prognostic factors should be applied. A subsequent article examines the ethicolegal implications of limiting intensive care access of persons living with HIV or TB