M.Com. (Finance and Investment Management) / The latest financial crisis that began in 2007 in the USA and spread to Europe, Africa and other continents has highlighted the importance of liquidity and its role in financial markets. One of the most commonly accepted mathematical models used in financial markets is the Black and Scholes option pricing model (BSM model). The assumptions in the BSM model have again been questioned during the current crisis and, in particular, the assumption of an unending risk-free supply of liquidity. This report reviews this assumption in the South African financial markets with local market participants. These views are polled through the use of a questionnaire to gauge these participants' views on liquidity using proxies or factors that impact overall liquidity. The results showed significantly different perspectives depending on the role of the participant as either market maker or price taker. The overall liquidity proxies used showed that local market participants believe these proxies impact liquidity. The view that liquidity is an unending commodity and thus priced as riskless was disputed by local market participants. The practical significance of the research problem in the local context should provide local participants with some insight into local perceptions on liquidity that may provide some practical tools when pricing or trading instruments in the local market.

In this mini-dissertation the author, through a process of Dialectical analysis, using Interviews (with participants in ICT4D projects), Observations (of ICT4D projects) and Document analysis (of documentation about ICT4D projects), attempts to define what is necessary for the technical success of an ICT4D (Information and Communication System for Development) project. The author attempts this definition by using technical maturity models as a basis for determining what the current level of success or sustainability for an ICT4D project is. The author goes further by defining and creating his own technical maturity model, for ICT4D projects, and then refining it based on his Observations, a series of Interviews and Document analysis. This final revised model, and the process used to create it, is used to answer the question of whether a technical maturity model can be used in an ICT4D project and to what extent such a model will assist in the sustainability of an ICT4D project. / Dissertation (MPhil)--University of Pretoria, 2008. / Informatics / unrestricted

There has been a growing interest in addiction research on what role identity has to play in terms of recovery from drug addiction. One field of study that has gained traction in this area is the social identity approach, which argues that those in recovery tend to go from an ‘addict identity’ towards a ‘recovery identity’ when enrolled in treatment. This has been criticized by critical addiction studies, who argue that this notion is fueling an already established set of binary oppositions such as normality/abnormality, health/sickness etc., said to permeate addiction discourse. They argue that identity works to restrain the lives of those in recovery, and that these binary oppositions are problematic and both stigmatizes and pathologizes former drug users to mere products of recovery. The present thesis therefore interrogates these notions further by exploring the experiences of individuals enrolled in twelve step recovery, to see how identity formation and binary assumptions are experienced by former addicts themselves. The thesis employs a qualitative approach, and data were collected through 10 semi-structured interviews with active members of Narcotics Anonymous during March and April 2021. By applying actor network theory (ANT), the analysis of the study suggests that former addicts tend to present various identity-claims besides those only tied to recovery practices. Also, enrolling in twelve step recovery and identifying as a recovering addict seemed to enrich, rather than restrain their lives. Although binary assumptions and a struggle for normality seemed a burden in active substance abuse, it is suggested to be a necessary feature of recovery in terms of providing a framework for life. Thus, the analysis suggests that recovery might be a more fluid process than these respective fields tend to assume, and that binary assumptions are perhaps a necessity in terms of staying abstinent. / Det finns ett växande intresse inom beroendeforskning gällande identitetens roll i tillfrisknande från drogmissbruk. Ett forskningsfält som belyser detta är det gällande social identitet, som hävdar att de i tillfrisknande tenderar att gå från en ’beroendeidentitet’ till en ’tillfrisknandeidentitet’ i behandling. Samtidigt kritiseras detta av teoretiker från kritiska beroendestudier, som argumenterar för att denna föreställning ger stöd åt en redan etablerad uppfattning om binära motsättningar gällande normalitet/abnormitet, hälsa/sjukdom osv., som fått fäste inom beroendediskursen. De hävdar att identitet verkar genom att begränsa livet för individer i behandling, och att dessa binära motsättningar är problematiska då de bidrar till att stigmatisera och patologisera missbrukare till att bli produkter av sin behandling. Syftet med detta arbete är därför att undersöka dessa föreställningar genom att granska erfarenheter av individer som är aktiva inom tolvstegsbehandling, för att se hur identitetsformering och binära föreställningar upplevs av före detta missbrukare själva. Detta arbete använder sig av en kvalitativ ansats, och insamlandet av data skedde genom 10 semi-strukturerade intervjuer med aktiva medlemmar i Anonyma Narkomaner i Mars och April 2021. På arbetets resultat applicerades actor network theory (ANT), och analysen indikerar att före detta missbrukare tenderar att identifiera sig med diverse andra praktiker än de endast kopplade till behandling. Analysen visar även att identifikation med tolvstegsbehandling tenderade att öppna upp och berika livet för de i tillfrisknande, snarare än att begränsa det. Även om binära uppfattningar och en kamp för normalitet tenderade att vara en börda för individer i aktivt missbruk, så verkar det vara en nödvändig egenskap av tillfrisknandet genom att förse dessa med ett ramverk för hur de kan leva sina liv. Sammanfattningsvis visar studien att identitet i tillfrisknande verkar vara en mer rörlig och icke-fixerad process än vad dessa fält hävdar, och att binära uppfattningar är en nödvändighet för att bibehålla en fortsatt nykterhet.

Values are inherent within cultures, relationships, and many other systems, however, little study has been done on the extent to which individuals may explicitly agree with the metaphysical assumptions that much of psychological science relies upon. Psychological science, which uses scientific methodology, is a trusted source of knowledge for many students. Scientific methodology is conceptually linked to assumptions of naturalism, which makes claims about the truth of reality. These naturalistic assumptions pertain to ideas of disenchantment, which describe the world as free from any transcendent quality. These same ideas have become popular among people of the Western world and are foundational to the worldview of secularism. Accessing whether, and to what extent, individuals explicitly agree or disagree with ideas of disenchantment inherent within secularism may help to better understand relationships between cultural, educational, and spiritual beliefs, and the underlying presumptions of psychological science. A measure of 30 items in length was created in order to evaluate the extent to which individuals agree with statements about some of the foundational assumptions of secularism as it relates to naturalism. A random sample of online participants (N=395) completed the items through an online survey platform. A 1-factor model provided sufficient statistical fit for the data, suggesting that items appeared to support the idea that this measure addresses attitudes of secularism, however no claims on the validity of the measure in the current study can be made. Suggestions for future study are provided.

With the issuing of Pension Funds circular PF117 in 2004 in South Africa, regulation required valuation assumptions for defined benefit pension funds to be on a best-estimate basis. Allowance for prudence was to be made through explicit contingency reserves, in order to increase reporting transparency. These reserves for prudence, however, were not permitted to put the fund into deficit (the no-deficit clause). Analysis is conducted to understand the risk that PF117 poses to pension fund sponsors and members under two key measures: contribution rate risk and solvency risk. A stochastic model of a typical South African defined benefit fund is constructed with simulations run to determine the impact of the PF117 requirements. Findings show that a best-estimate funding basis, coupled with the no-deficit clause, results in significant risk under both contribution rate and solvency risk measures, particularly in the short-term. To mitigate these risks, alternative ways of introducing conservatism into the funding basis are required, with possible options including incorporating margins into investment return assumptions or the removal of the no-deficit clause.

Diversity and inclusivity in the business world has gained larger focus from media and customers over the past 60 years, however a large focus has been aimed at gender, ethnicity and race whilst other types of diversity have not been as researched. The inclusivity of people with disabilities in the regular labor market has been neglected to a large extent. All people should be included in the workplace which can be seen as a reflection of society as a whole, especially in regard to the Swedish model of government agency assistance from the company Samhall. In this study we have combined frameworks from diversity management, critical disability theory and justice theory to create a study examining how the developmental opportunities of people with disabilities are affected by assumptions and fairness. This study was conducted with the help of Samhall's regional office in Västerbotten and Örnsköldsvik. Samhall employs 26 000 people in Sweden with the goal of creating meaningful work for people with reduced working ability, developing their skills to be ready for the regular labor market. This study was designed from a managerial perspective, and we therefore decided to use a qualitative approach by interviewing six managers from Samhall using a semi-structured format. We wanted to gain insight on how society and other companies interact with Samhall, and how they work with development to reach their final goals. Due to the limited number of studies about people with disabilities from a social standpoint we were able to establish a research gap. Many of the current studies from a social perspective are focused on developmental perspective from young ages, or the perspective is from a medical standpoint. Studies with people with disabilities as a part of diversity management have yet to be created to any greater extent. By further including a perspective of equality and justice in this we were able to address issues of conflict as well, as a part of developmental work. The interviewees from Samhall are managers with varying amounts of experience within Samhall and varying experiences working with people with disabilities before their work in the organization. The managers also had varied job assignments which were able to contribute to a more diverse perspective on everything from daily interactions with society to policy creation and medical paperwork. In our study we researched six different assumptions about disabilities including the social model of disability, valuing diversity, rights, voices, language and transformative politics. From diversity management we used instrumental and terminal values to help us understand the developmental work. Finally, we used a framework of equality categorization including equality rule, relative justice and objective justice to compare how things work within and outside of Samhall and see what the employees respond to in the best way and to further cultivate development for the employees. We did a thematic analysis to be able to compare the answers of our different interviewees and find out what really works and to see what the current situations truly look like. The research showed that assumptions do affect people with disabilities, however, not to the same extent as previous literature suggests. Furthermore, we discovered that the instrumental values used in the developmental work for people with disabilities in Samhall can be transferred to other companies as well, and therefore hopefully intrigue and incentivize more employers to take the step of hiring from Samhall and people with disabilities in general. The fairness aspect of our research also provided insight in how to prioritize and how this can aiding and resolving conflict.

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No / The paper explores some of the political assumptions implicit in the use of social cost-benefit analysis, and the role of economic planners using this analysis. It is argued that the recent emphasis on income distribution in project planning techniques rests on questionable assumptions about the nature and intentions of governments. These techniques can be thought of as attempts to redistribute income ‘through the back door’. Some possible justification for the use of income distribution weights in project planning is given, but it is concluded that they are very much second best to direct macro-economic policies and popular participation in planning.