United Nations Development Program. (2013). International human development indicators: Gender inequality index. Retrieved from http://hdrstats .undp.org/en/indicators/68606.-html Vázquez, J. J. (2013). Happiness among the garbage: Differences in overall happiness among trash pickers in León (Nicaragua).
The Alternative Exchange (AltX) is the secondary exchange to the Johannesburg Securities Exchange (JSE). It was launched in 2003 as a market for SMEs that have high growth rates (Correia & Holman 2008). The primary objective of the AltX is to be a growth catalyst to South African SMEs by enabling access to finance (JSE 2013).Orientation: Despite their significant contribution to the South African economy, the majority of small and medium enterprises (SMEs) fail because of lack of access to appropriate types of capital. The Alternative Exchange (AltX) was established to address the lack of access to equity finance for SMEs.Research purpose: This study aims to determine whether the AltX has adequately enabled access to equity finance for the firms listed thereon.Motivation for the study: This study was motivated by the apparent lack of SME access to appropriate forms of finance. By evaluating the effectiveness of the AltX, the study seeks to investigate whether further measures are required to enable access to equity finance for SMEs.Research design, approach and method: A quantitative methodology was employed and panel regression models were used to compare the levels of equity and debt of firms listed on the AltX to those listed on the Johannesburg Securities Exchange's (JSE) main board. In this manner, the study aims to determine whether AltX firms enjoy the same level of access to capital markets as their counterparts on the JSE.
Main findings:The findings indicate that firms listed on the AltX have significantly higher levels of debt than those listed on the JSE's main board. This debt tends to be the more accessible yet risky short-term debt.Practical/managerial implications: The findings infer that despite the establishment of the AltX, SMEs still face considerable constraints to accessing equity finance and, as such, may be compelled to consider other means of raising finance.
Contribution/value-add:This study contributes to the research on SMEs in South Africa and suggests that further interventions are required to enable their access to appropriate forms of finance.
This article reports on the findings of an intervention aimed at assisting a group of thirty-one parttime students registered for a third year Management Accounting and Finance course to develop a range of non-cognitive skills that have been shown to positively impact academic behaviour. In addition to facilitating the teaching and learning of academic content, lecturers introduced students to academic mindsets, academic behaviours, learning strategies and social skills through roleplays and practical demonstrations. The intervention also strove to influence the context in which students learned in order to positively influence the attitudes of the students towards the course and to motivate them to acquire and practice behaviours that would support their learning. The intervention involved two action research cycles in which the researchers were able to reflect on the effectiveness of the various approaches used to encourage behaviour change and the acquisition of new skills. The findings of the study indicate that the intervention was successful in developing a range of non-cognitive attitudes, strategies and behaviours in students, with most of the cohort reporting positive changes in attitude towards their studies and the belief that academic success was indeed possible.
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