The infl uence of banks’ internal performance on market performance: a non-parametric approach

The purpose of the study is to determine the degree to which banks’market performance, as measured by market value ratios, is aff ectedby their internal performance. Annual fi nancial statement reportswere used to determine the internal and market performance oflisted banks on the JSE Limited over a ten-year period. The internalperformance measures used are the profi tability ratios in the DuPont analysis and two Data Envelopment Analysis (DEA) models toestimate effi ciency. Income statement data were included as theoutput of the fi rst model to determine banks’ operating effi ciency,and balance sheet data were included as the output of the secondmodel to determine banks’ fi nance and investment effi ciency. Thestudy concluded that market value ratios correlate better withprofi tability ratios than the income statement output-based andbalance sheet output-based effi ciencies. This study is the fi rst tocompare two DEA models and profi tability ratios with market valueratios. The value of the study is therefore that it indicates thatprofi tability ratios should be used as a proxy for market value ratiosrather than effi ciency measures that focus separately on incomestatement data and balance sheet data

The need for legislative reform regarding the authorisation of trustees in the South African law of trusts

According to section 6(1) of the Trust Property Control Act 57 of 1988, all trustees to whom the Act applies “shall act in that capacity only if authorized thereto in writing by the Master” of the High Court. The requirement of written authorisation has, however, not been interpreted and applied by the South African judiciary in a consistent fashion, leading to uncertainty regarding the precise ambit of the section and the consequences of non-compliance therewith. This contribution analyses these inconsistencies and concludes that legislative intervention along the lines of pre-formation contracts as provided for in both company law and the law of close corporations may provide an adequate solution to the problems faced by both the parties to the trust and the outsiders who deal with them

Foreign policy, public diplomacy and the media : the case of South Africa, with specific reference to the denial of visas to the Dalai Lama

This study illustrates the link between foreign policy, public diplomacy and the media, with reference to the South African Government’s refusal in 2009 and 2011 to issue visas to the Dalai Lama. The research question is: How do the South African media frame foreign policy and how do administrators react to this actuality? As there seems to be a void in South African international political communications, this is where this study purports to contribute. The aim is to investigate how the media frames foreign policy, specifically regarding the case study. Therefore, the media, human rights and foreign policies, and the diplomatic practices of the South African government are studied. The objective is not necessarily to prove or disprove the causal effect of media and public opinion on foreign policy but rather to illustrate the interaction between these elements in the case of the South African government’s denial of visas to the Dalai Lama.Political SciencesM.A. (International Politics

The impact of yeast genetics and recombinant DNA technology on the wine industry - a review

CITATION: Pretorius, L. S. & Van der Westhuizen, T. J. 1991. The impact of yeast genetics and recombinant DNA technology on the wine industry - a review. South African Journal of Enology & Viticulture, 12(1):3-31, doi:10.21548/12-1-2220.The original publication is available at http://www.journals.ac.za/index.php/sajevDespite our limited knowledge of the genetic make-up of commercial wine yeasts and the fact thatthe advantages of genetic manipulation of wine yeasts have not yet been demonstrated in practice, the wine industry has to realise that "the name of the game" is recombinant DNA and that the pace of progress is fast. The technology is so powerful that it now enables manipulation of the genome in ways hard to imagine only a decade ago. In this review we highlight the importance of the wine yeast to the wine industry and the necessity for well-planned breeding programmes. First, we summarise reliable taxonomic methods that are useful as diagnostic techniques in such breeding strategies. Second, we emphasise the complexity of the genetic features of commercial wine-yeast strains. Third, we review the genetic techniques available and point out the potential of these techniques (individually and in combination) in strain-development programmes. Finally, we attempt to stimulate interest in the genetic engineering of wine yeasts by discussing a few potential targets of strain development. The impact of yeast genetics and recombinant DNA technology on the wine industry promises to be impressive.http://www.journals.ac.za/index.php/sajev/article/view/2220Publisher's versio

A new find of Megalotragus priscus (Alcelaphini, Bovidae) from the central Karoo, South Africa

Main articleWe document the occurrence of the Florisian, or late Quaternary, form of the giant alcelaphine, Megalotragus priscus, from dongas on the Ongers River, near Britstown in the central Karoo. This is significant as it confirms the occurrence of the species in the Karoo and it suggests significantly wetter environments and productive grasslands in the central Karoo in pre-Holocene times. The present-day Karoo environment did not maintain populations of large ruminant grazers similar to M. priscus, and other specialized Florisian grazers, prior to the advent of agriculture and pasture management. Aridification in recent times is the likely cause of changes in grassland quality and the local dissappearance of these animals, if not their extinction.Non

South African human resource management for the public sector

This report discusses important themes in the field of human resource management for the public sector, including managing employee relations, strategizing and planning human resources departments, and selecting employees within the equal employment opportunity guidelines. Current legislation of the field is discussed and new theories on local and international applied research are explored

Mitochondrial DNA variation in Parkinson’s disease: Analysis of “out-of-place” population variants as a risk factor

Mitochondrial DNA (mtDNA), a potential source of mitochondrial dysfunction, has been implicated in Parkinson’s disease (PD). However, many previous studies investigating associations between mtDNA population variation and PD reported inconsistent or contradictory findings. Here, we investigated an alternative hypothesis to determine whether mtDNA variation could play a significant role in PD risk. Emerging evidence suggests that haplogroup-defining mtDNA variants may have pathogenic potential if they occur “out-of-place” on a different maternal lineage. We hypothesized that the mtDNA of PD cases would be enriched for out-of-place variation in genes encoding components of the oxidative phosphorylation complexes. We tested this hypothesis with a unique dataset comprising whole mitochondrial genomes of 70 African ancestry PD cases, two African ancestry control groups (n = 78 and n = 53) and a replication group of 281 European ancestry PD cases and 140 controls from the Parkinson’s Progression Markers Initiative cohort. Significantly more African ancestry PD cases had out-of-place variants than controls from the second control group (P < 0.0125), although this association was not observed in the first control group nor the replication group. As the first mtDNA study to include African ancestry PD cases and to explore out-of-place variation in a PD context, we found evidence that such variation might be significant in this context, thereby warranting further replication in larger cohorts

Effect of synthetic antioxidants on the oxidative stability of biodiesel

Biodiesels were prepared using base catalyzed methanolysis of sunflower, soybean and canola oils. Rancimat oxidative stability measurements showed that the induction period (IP) for neat canola biodiesel conformed to EN 14214, the European specification for biodiesel (IP > 6 h). Stability was enhanced when 0.5 wt.% of the synthetic antioxidants di-tert-butylhydroquinone (DTBHQ) or poly(1,2-dihydro- 2,2,4-trimethylquinoline) (Orox PK) was added. Soybean-based biodiesel spiked with 0.5 wt.% DTBHQ also reached this specification. Orox PK improved the stability of sunflower biodiesel but the 3 h induction period specified by ASTM D-6751 could not be reached. Curiously, canola biodiesel was destabilized on adding the antioxidant Naugard P (tris(nonylphenyl) phosphite).The Institutional Research Development Programme (IRDP) and the THRIP program of the Department of Trade and Industry and the National Research Foundation of South Africa, Ltd as well as Xyris Technology.http://www.elsevier.com/locate/fuelai201