The impact of the global financial crisis on decentralized government in South Africa

Steytler, Nico; Powell, Derek

doi:10.3917/eufor.358.0149

Cited by 16 publications

(14 citation statements)

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“…We argue that this could have been because of the global financial and economic crisis that hit the world, including South Africa in December 2007until mid-2009(Steytler & Powell 2010. This crisis led to a slower economic growth, combined with lower commodity prices and a slowdown in capital flows to developing countries.…”

Section: Hypotheses 2(a) (B) and (C)mentioning

confidence: 94%

A comparison of the value relevance of interim and annual financial statements

Zulu

Klerk

Oberholster

2017

SAJEMS

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Background: This study tests the value relevance of interim accounting information. The study also explores whether the value relevance of annual and interim financial statements has changed over time.Aim: It explores whether the value relevance of interim financial statements is higher than the value relevance of annual financial statements. Finally, it investigates whether accounting information published in interim and annual financial statements has incremental value relevance.Setting: Data for the period from 1999 to 2012 were collected from a sample of non-financial companies listed on the Johannesburg Stock Exchange.Method: The Ohlson model to investigate the value relevance of accounting information was used for the study.Results: The results show that interim book value of equity is value relevant while interim earnings are not. Interim financial statements appear to have higher value relevance than annual financial statements. The value relevance of interim and annual accounting information has remained fairly constant over the sample period. Incremental comparisons provide evidence that additional book value of equity and earnings that accrue to a company between interim and annual reporting dates are value relevant.Conclusion: The study was conducted over a long sample period (1999–2012), in an era when a technology-driven economy and more timely reporting media could have had an effect on the value relevance of published accounting information. To the best of our knowledge, this is the first study to evaluate and compare the value relevance of published interim and annual financial statements.

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Section: Hypotheses 2(a) (B) and (C)mentioning

confidence: 94%

A comparison of the value relevance of interim and annual financial statements

Zulu

Klerk

Oberholster

2017

SAJEMS

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“…But it was not until the 19 th century that it regained prominence "due to the ever-increasing devastation of violent conflicts" [2], which suggests that the main causative factor for global economic recessions has been conflict related. From the great world wars 1 & 2 [38,14] to the Gulf wars that caused huge impact on oil prices leading to significant decline on economies that depended thereupon [11], major economic downturns do share parallel pedigrees whose often enduring spiral effects still boil down to one conflict or the other. Historically, the origin of economic rehabilitative efforts has also been traced to the time of Confederate Civil War in America (1861-1865), although its first application in the history of post-war was in Austria after World War 1, with "the most impressive post-war reconstruction effort" taking place at the "end of the Second World War" [2].…”

Section: Meaning Of "Microscopicmentioning

confidence: 99%

“…This obviously inspires many governments in the region to take decisive action by seizing the rare opportunity posed by the pandemic calamity to reorder or reshape their countries, societies and economies. South Africa may invariably be among top countries in Africa which take a bolder stance in overhauling the economy proses, having attempted similar recovery initiatives in past recessions, at least as available data in current democratic dispensation infer [38,28]. Coming in the guise of a post-pandemic recovery scheme, the latest economic reconstruction and recovery Plan reveals comprehensive structural reforms for both the South African economy and the society at large.…”

Section: Introductionmentioning

confidence: 99%

Microscopic Examination of the New South African Economic Reconstruction and Post-Pandemic Recovery Plan

Ede¹,

Jili²

2021

JPSIR

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South Africa is certainly not the only country affected by the novel Coronavirus pandemic in Africa -though it currently stands as the worse-hit country by the virus, but it is presently on the list of some of the countries that defiantly take advantage of the rare opportunity imbedded in the adversity of the pandemic to reset the economic landscape. The country is promptly on route to a recovery that is one-of-a-kind in the continent, from a pandemic that saw half of its GDP depleting within months. In one of his regular situational updates to the nation, President Cyril Ramaphosa announced a comprehensive Masterplan with which South Africa aims to swim against the tide of the recession caused by Coronavirus pandemic. The midmonth announcement which upheld the remaining quarter of the hapless year 2020, unveiled the new recovery Plan for the nation known as THE SOUTH AFRICAN ECONOMIC RECONSTRUCTION AND RECOVERY PLAN (ERRP). Whilst the President and the people preciously revel the new ERRP and the much-anticipated reconstruction of the economy of the country in order to address widening inequality now relapsed by the pandemic, we painstakingly examine it in detail to divulge the numerous "new" effects that inundate the decadal Plan.

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“…During economic crises, investments in public services such as education or water and sanitation may also decline and this is accentuated when austerity measures are implemented. For instance, in South Africa the global financial crisis increased electricity prices, which raised the cost of electricity supply borne by municipalities and reduced consumption and payments by businesses and households (Steytler and Powell, 2010). The negative impact of recession on household incomes led to general non-payments for municipal services (water and property) and ultimately, reductions in municipal income (Ibid.).…”

Section: Poor Health and Health Carementioning

confidence: 99%