Journal of Economic and Financial Sciences 

About: Journal of Economic and Financial Sciences is an academic journal published by AOSIS. The journal publishes majorly in the area(s): Income tax & Corporate governance. It has an ISSN identifier of 1995-7076. It is also open access. Over the lifetime, 444 publications have been published receiving 1958 citations. The journal is also known as: JEF.

Emerging trends in reporting: an analysis of integrated reporting practices by south african top 40 listed companies

Abstract: Companies should behave as responsible corporate citizens and conduct their business in a manner that meets existing needs without compromising the ability of future generations to meet their needs. Thus they should protect, enhance and invest in the wellbeing of the economy, society and the natural environment in which they do business. Annual reporting format of financial reporting does not take cognisance of stakeholders’ needs in this regard, and there is a need for reporting that brings together financial, sustainability, management commentary and governance aspects in a coherent, simplified and concise manner. The objective of this paper is twofold: it aims, firstly, to provide a brief overview of the development of integrated reporting, and, secondly, to provide evidence regarding the integrated reporting practices at the largest listed companies in South Africa. This is done through a literature review of current corporate governance and sustainability developments, supported by empirical evidence obtained from assessing, through content analysis, the integrated reporting practices of the top 40 companies on the Johannesburg Securities Exchange, South Africa. The study found that although integrated reporting is evolving, inconsistencies still exist regarding the process to follow, format, content, and value thereof. The study is of specific relevance for Africa with its rich mineral resources, as it is of vital importance that companies that do business on the continent behave as responsible corporate citizens, respect the environment and society, and provide accurate, reliable and credible reporting on their financial and sustainability performance to all of their stakeholders in a simplified and integrated manner.

The causal relationship between government revenue and expenditure in namibia

Abstract: The relationship between government revenue and government expenditure is important, given its relevance for policy especially with respect to the budget deficit. The purpose of this paper is to investigate the relationship between government revenue and government expenditure in Namibia. It investigates the causal relationship between government revenue and government expenditure using the Granger causality test through cointegrated vector autoregression (VAR) methods for the period the period 1977 to 2007. The paper tests whether government revenue causes government expenditure or whether the causality runs from government expenditure to government revenue, and if there is bi-directional causality. The results show that there is unidirectional causality from government revenue to government expenditure. This suggests that unsustainable fiscal imbalances can be mitigated by policies that stimulate government revenue.

The determinants of subjective well-being in south africa - an exploratory enquiry

Abstract: The study of subjective well-being is no longer on the periphery of study in the field of economics. A significant body of literature exists on the determinants of subjective well-being in the developed world. This paper uses the first wave of the National Income Dynamics Survey (NIDS) dataset to investigate the determinants of subjective well-being in South Africa, involving a broad range of economic, socio-economic and attitudinal variables identified from literature. Ordinary Least Squares and ordered probit estimations reveal that age, race, level of income, years of education, gender, marital status and the number of children explain varying levels of well-being. Unlike studies in the developed world, respondents’ height, health and residence in urban areas do not explain well-being. Two of the surprising findings point towards the significant influence of religion and provincial location in determining well-being in South Africa.

Evaluation of corporate integrated reporting in South Africa post King III release South Africa - an exploratory enquiry

Abstract: Following the release of the King III report on Corporate Governance for South Africa, which became effective in March 2010, South African companies are expected to embrace the concept of integrated reporting in terms of which they are required to provide details of their strategies, corporate governance, risk management processes, financial performance and sustainability. More importantly, companies need to show how these components of integrated reporting are linked to one another so that stakeholders can make informed decisions about such companies’ current performance as well as their ability to create and sustain value in the future. The purpose of this study was to determine whether the level of reporting by South African listed companies has improved since the release of the King III report. It was subsequently found that there have been some progress in this regard, but there is still much room for improvement if the objectives of integrated reporting are to be fully met.

Education programmes' responsibilities regarding pervasive skills

Abstract: The Competency Framework of the South African Institute of Chartered Accountants (SAICA) details specific competencies, but also places emphasis on the pervasive skills that need to be attained by candidates in order to qualify as South African chartered accountants (CAs (SA)). This article presents the results of a literature review and empirical work that provides conflicting results as to whether the education, the training or a combination of the programmes are responsible for ensuring that aspirant CAs (SA) are equipped with pervasive skills. This study returned significant findings, indicating that SAICA-accredited academics are not aware of their responsibility to ensure that aspirant CAs (SA) have achieved all the competencies as set out in SAICA’s Competency Framework. While this apparent shortcoming may exist, it is the responsibility of the Heads of Academic Departments and SAICA alike to further inform academics that the onus to transfer both competencies (specific and pervasive) rests predominantly with them.