The risk of climate change has gained prominence globally and also in South Africa. Companies operating in developing countries such as South Africa are perceived to be particularly vulnerable to climate change. There have been mixed reactions to this risk by companies ranging from inaction to significant financial outlays expended on mitigating this risk. Whilst climate change is potentially a downside risk to financial performance, certain companies have identified opportunities to enhance their returns in the course of adapting to climate change. This study assessed whether there is a relationship between climate change and the financial performance, as manifested in the mitigation of risks and exploitation of opportunities of selected South African companies. The study sought to establish the extent to which climate change creates relevant and material risks, returns and opportunities for companies. The study was conducted using a combination of a literature review and empirical research in the form of secondary analysis. Data on climate-change performance, risks and opportunities was compared to data on financial indicators. The population of companies selected for the empirical research consisted of the Johannesburg Stock Exchange-listed companies that had publicly disclosed information to the Carbon Disclosure Project (CDP) in 2012. Climate-change data was categorised to differentiate between varying levels of climate-change performance, and the identified categories were compared to a range of ratios that demonstrated financial return. The research concluded that climate-change risks and opportunities are expected to have a significant and highly likely impact on company operations, revenue and expenditure. Positive and statistically significant correlations were identified between climate-change performance and equity analyst recommendations, historical internal rates of return, market values to book values, forecasted earnings per share, beta coefficients, and return on equity. Climate-change performance was not found to have a significant effect on the cost of capital. / Management Accounting / M. Com. (Accounting)

The risk of climate change has gained prominence globally and also in South Africa. Companies operating in developing countries such as South Africa are perceived to be particularly vulnerable to climate change. There have been mixed reactions to this risk by companies ranging from inaction to significant financial outlays expended on mitigating this risk. Whilst climate change is potentially a downside risk to financial performance, certain companies have identified opportunities to enhance their returns in the course of adapting to climate change. This study assessed whether there is a relationship between climate change and the financial performance, as manifested in the mitigation of risks and exploitation of opportunities of selected South African companies. The study sought to establish the extent to which climate change creates relevant and material risks, returns and opportunities for companies. The study was conducted using a combination of a literature review and empirical research in the form of secondary analysis. Data on climate-change performance, risks and opportunities was compared to data on financial indicators. The population of companies selected for the empirical research consisted of the Johannesburg Stock Exchange-listed companies that had publicly disclosed information to the Carbon Disclosure Project (CDP) in 2012. Climate-change data was categorised to differentiate between varying levels of climate-change performance, and the identified categories were compared to a range of ratios that demonstrated financial return. The research concluded that climate-change risks and opportunities are expected to have a significant and highly likely impact on company operations, revenue and expenditure. Positive and statistically significant correlations were identified between climate-change performance and equity analyst recommendations, historical internal rates of return, market values to book values, forecasted earnings per share, beta coefficients, and return on equity. Climate-change performance was not found to have a significant effect on the cost of capital. / Management Accounting / M. Com. (Accounting)

Thesis (MA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: As the wave of globalisation sweeps across the countries of the world, the economies of these countries are increasingly opening. The industrial and trade strategy approach is shifting to greater openness due to the pressures of international competitiveness. This means that domestic economic activity alone cannot sustain the national economy. One of the features of this openness is trade liberalisation. Trade between various countries is becoming more important as a way of earning foreign currency to address balance of payment problems and as well as to boost the domestic economy. This has great potential, in the long run, to generate employment opportunities. Immediately after South Africa ushered in a democratic dispensation in 1994 it had to contend with global pressure to liberalise its trade and put in place economic fundamentals that synchronize with the global economic order. The political economy of global trade structure is characterized by bargaining power inequalities amongst the developed countries (North) and the developing countries (South). Trade relations between the developed and developing countries has ~ element of power-play that advantage developed countries and the terms of trade are still skewed in favour of developed countries due to the power that developed countries wield in the global economic system. This study uses the structuralist development theoretical perspective (dependency theory) and the combination of qualitative and quantitative paradigms in understanding the trade relations between the developed countries. The study, through this theoretical paradigm, seeks to examine the degree of success or failure of the Uruguay Round of trade negotiations in particular with regard to tariff reduction commitments, and opportunities or constraints created thereof. A case study oftextile and clothing industry will be used, and this will highlight some of the negative implications of the Uruguay Round commitments. / AFRIKAANSE OPSOMMING: Namate die globaliseringsgolf oor die lande van die wereld spoel, word die ekonomiee van die lande meer toeganklik vir ander state. Die industriele en handelsstrategie benadering het, as gevolg van intemasionale mededinging, 'n klemverskuiwing na meer openheid meegebring. Dit het tot gevolg dat huishoudelike ekonomiese aktiwiteit nie alleen 'n ekonomie kan onderhou nie. Een van die kenmerke van hierdie openheid is die liberalisering van handel. Handel tussen state word toenemend belangrik vir die verdien van buitelandse valuta om betalingsbalans probleme aan te spreek, asook om plaaslike ekonomiee te stimuleer. Oor die lang termyn hou dit groot potensiaal in om werksgeleenthede te skep. Onmiddelik na demokratisering in 1994 was Suid-Afrika geforseer om sy handel te liberaliseer en sy ekonomiese grondslag te sinchroniseer met die globale ekonomiese orde, Die struktuur van die politieke ekonomie van intemasionale handel word gekenmerk deur ongelykhede tussen die ontwikkelde Noorde en die ontwikkelende lande van die Suide. Handelsbetrekkinge tussen ontwikkelde- en ontwikkelende lande bevat 'n element van magspel waarin eersgenoemde bevoordeel word. Hierdie studie maak gebruik van die strukturalistiese ontwikkelingsperspektief en 'n kombinasie van kwalitatiewe en kwantitatiewe paradigmas, ten einde 'n beter begrip te verkry van handel tussen ontwikkelde lande. Deur middel van die teoretiese paradigma, probeer die studie om die werkbaarheid van die Uruguay Ronde, spesifiek · met betrekking tot tarief verlagings en die geleenthede of beperkings wat daardeur geskep word, aan te toon. 'n Gevallestudie van die tekstiel en klerebedryf sal gebruik word om die negatiewe implikasies van die Uruguay Ronde te belig.

Thesis (MComm)--University of Stellenbosch, 2004. / ENGLISH ABSTRACT: The legalisation of gambling in South Africa was perceived by many as an unnecessary vice that would bring social decay in a country that is already battling to cope with a wide array of social woes, such as unemployment, crime, etc. Anti gambling protestors argued that South African society is not sufficiently developed to cope with an industry that diverts money from normal household budgetary expenditure patterns to the many forms of gambling that suddenly became legal. Protestors also argued that gambling tax is just another tax on an already overtaxed society. Many of these arguments were justified and the legalisation of gambling was clearly an issue, which had to be dealt with carefully. Politicians, the custodians of a well-managed political system through pro-active policies that will be to the benefit of a country and its people were in a particularly difficult position with the creation of a legalized gambling industry and had to weigh policy between the advantage of additional tax revenue and the disadvantage of adding to the social ills of South African society. In terms of the Constitution of South Africa gambling was a concurrent competence and the respective provinces had an opportunity to develop gambling policy that will be beneficial to the relevant province. Although the national Gambling Act provided the broad parameters in which provincial legislation had to be developed, provinces had ample opportunity to be innovative in respect of provincial gambling legislation. After the legalisation of gambling provinces moved quickly to ensure that casinos were developed, mainly to create a larger revenue base through gambling tax. Most provinces were cash-strapped, as their share of the national budget was not sufficient to deal with the long list of provincial development priorities. A way had to be found to supplement the national government contributions and gambling tax was an attractive option. The Western Cape Province moved somewhat slower in the promulgation of provincial gambling legislation. There was a clear realisation that gambling was going to have a massive social impact on the population of the Western Cape and therefore had a clear objective to find ways to develop casinos in such a way that it would offset the negative impact of gambling. This thesis did not place any emphasis on the quantification of the social impact (such as lack of productivity, loss of employment, bankruptcy, domestic violence, divorce, etc). The objective was to show that the allocation of a gambling licence could be used to create infrastructure that is not linked or related to a casino. Such infrastructure is normally in high demand in cities or regions, which are emerging as tourist destinations, but the infrastructure would not be developed by the government, as the capital cost is too high, nor by the private sectors as the profit margins are too low. The Western Cape used its allocation of five casino licences in terms of the National Gambling Act to create an impact on the whole of the region by dividing the province into five regions and allocating a casino licence to each of the regions. Since 1994 Cape Town and the Western Cape have gained prominence internationally as a tourist destination. It was soon clear that the city and region would not be able to cope with the influx of tourists due to a lack of hotel rooms and other tourism infrastructure. It was also clear that the tourism industry would not show the required growth without facilities, such as a convention centres. It is particularly a convention centre that became an urgent element in Cape Town as convention business has become a rapidly growing business with a potentially significant impact in terms of convention expenditure and the resulting economic impact on a city. The Western Cape developed gambling policy determinations made it clear that in the case of the five regions, casino bid companies were obliged to include tourism infrastructure that would add value to a particular region. It was made clear that such infrastructure should not necessarily be linked with a casino and could be off-site. The policy determinations were clear in its stipulations that stand-alone casinos would not be entertained in the adjudication process. The development of an international convention centre became an important criterion in the allocation of a casino licence in the Cape Metropole. Although casino bid companies included different kinds of infrastructure in their bids (mostly projects that would have a positive impact on tourism) the development of an international convention centre became a strong factor and the casino licence for the Cape Metropole was allocated to the company that included the development of an international convention centre in the their casino bid application. Although convention centers are rarely profitable they are known to change the face of cities and regions in terms of their economic impact, not only the impact in terms of urban renewal opportunity, but also attracting domestic and international convention center delegate expenditure and the expenditure on hotels, food and beverage, transport, and general tourism expenditure. The direct, indirect and induced economic impact of this expenditure in the Western Cape and Cape Town result in the off-setting of the negative social impact and ensure that the benefits of the legalisation of gambling is extended to projects that would be unlikely developments in the absence of a casino licence allocated. The study undertaken demonstrates the economic impact (direct, indirect and induced) of the Cape Town International Convention Centre. It also shows the impact of the center on the promotion of tourism, including convention center delegates returning to the Western Cape for leisure purposes in the future. It culminates in the conclusion that the allocation of a casino licence should not only be the development of a stand-alone casino, but also the creation of tourism infrastructure that offsets the negative impact of gambling. / AFRIKAANSE OPSOMMING: Die wettiging van die dobbelindustrie was deur baie mense gesien as ‘n onnodige euwel wat net sou bydra tot sosiale verval in ‘n land wat reeds gebuk gaan onder ‘n wye verskeidenheid sosiale probleme, soos werkloosheid, misdaad, ens. Anti-dobbel stemme het argumenteer dat die Suid-Afrikaanse gemeenskap is nie genoegsaam ontwikkel om ‘n industrie te hanteer wat geld kanaliseer vanaf normale huishoudelike besteding na die vorme van dobbel wat gewettig is nie. Anti-dobbel stemme het verder genoem dat dobbel net ‘n verdere belasting is in ‘n gemeenskap wat reeds oorbelas is. Baie van hierdie argumente het gewig gedra en die wettiging van die dobbelindustrie was duidelik ‘n kwessie wat versigtig hanteer moes word. Politici, die beskermhere van ‘n gesonde politieke bestel deur pro-aktiewe beleidstappe wat tot voordeel van ‘n land en sy mense behoort te wees, was in ‘n besondere politieke dilemma met die wettiging van die dobbelindustrie en moes die voordele van verdere belastinginkomste in ag neem saam met die sosiale nadele wat die industrie sou skep. Volgens die Konstitusie van Suid-Afrika is dobbel ‘n konkurente verantwoordelikheid en die onderskeie provinsies kon provinsiale dobbelbeleid ontwikkel volgens provinsiale vereistes. Alhoewel die nasionale wetgewing die oorhoofse raamwerk skep vir provinsiale wetgewing, het provinsies die geleentheid gehad om innoverend te wees met die ontwikkeling van provinsiale wetgewing. Na die wettiging van die dobbelindustrie het provinsies vinnig opgetree om casinos te ontwikkel, hoofsaaklik om ‘n groter belastingbasis te ontwikkel deur die toepassing van wetgewing. Die meeste provinsies ondervind ‘n tekort aan inkomste, aangesien die inkomstetoedeling vanaf die nasionale regering nie genoegsaam is om aandag te gee aan ‘n lang lys van ontwikkelingsprioritiete nie. ‘n Weg moes gevind word om provinsiale inkomste aan te vul en dobbelbelasting was ‘n aantreklike opsie. Die Wes-Kaap Provinsie het ‘n meer geduldige pad geloop in die promulgering van dobbelwetgewing. Daar was ‘n duidelike besef dat dobbel ‘n massiewe negatiewe sosiale impak in die Wes-Kaap sou teweeg bring en was daarvan oortuig dat ‘n weg gevind moes word om die negatiewe sosiale impak minder te maak. Die tesis het nie die klem geplaas op die kwantifisering van die negatiewe impak (soos byvoorbeeld die gebrek aan produktiwiteit, verlies aan werkgeleenthede, bankrotskappe, huishoudlike geweld, egskeidings, ens) nie. Die doel was om te demonstreer dat die toekenning van ‘n casino dobbellisensie gebruik kan word om infrastruktuur te skep wat nie direk verwant is aan ‘n casino nie. Sodanige infrastruktuur is gewoonlik in aanvraag in stede en streke wat ontluik as toerismbestemmings, maar hierdie tipe toerisme-infrastruktuur sal nie deur die regering ontwikkel word nie weens ‘n tekort aan die nodige fondse, maar ook nie deur die privaatsektor nie weens die gebrek aan aantreklike winsmarges. Die Wes-Kaap Provinsie het die vyf casinolisensies wat aan die provinsie toegedeel is in terme van die Nationale Dobbelwet gebruik om ‘n impak in die hele Provinsie te maak deur die Provinsie in vyf streke te verdeel met ‘n lisensie toegedeel aan elk van hierdie streke. Kaapstad en die Wes-Kaap het sedert 1994 internasionale prominensie verkry as ‘n internasional toerismebestemming. Dit was egter gou duidelik dat die stad en die streek nie die verwagte stroom van toeriste sal kan hanteer met die gebrek aan hotelkamers en ander toerismeinfrastruktuur nie. Die toerismesektor sal ook in gebreke bly om te groei sonder ander fasilitiete soos ‘n internasionale konferensiesentrum. Die gebrek aan ‘n internasionale konferensiesentrum het gelei daartoe dat Kaapstad konferensies begin verloor het weens die gebrek aan voldoende fasiliteite. Die internasionale konferensie-industrie toon uitstekende geleenthede vir ekonomiese groei deur die konferensieganger besteding en die impak op die ekonomie van Kaapstad en die Wes-Kaap. Die Wes-Kaap het dobbelkriteria ontwikkel wat dit duidelik gemaak het dat casino lisensie-aansoekers daartoe verplig was om toerismeinfrastruktuur by hulle aansoek in te sluit wat sou bydra tot die waardetoevoeging in die onderskeie streke. Dit is ook duidelik gemaak dat sodanige infrastruktuur nie noodwendig fisies aan ‘n casino gekoppel hoef te wees nie en kon ook weg van die casino perseel ontwikkel word. Die beleidskriteria het dit verder ook duidelik gemaak dat alleenstaande casinos nie oorweeg sou word nie. Die ontwikkeling van ‘n internasionale konferensiesentrum het ‘n belangrike beleidsoorweging geword in die toekenning van ‘n casinolisensie in die Kaapse Metropool. Alhoewel casino maatskappye ‘n verskeidenheid infrastruktuurelemente in hul aansoeke ingesluit het (meesal projekte wat ‘n positiewe impak op toerisme sou teweeg bring) het die ontwikkeling van ‘n konferensiesentrum ‘n uiters belangrike oorweging geword in die toekenning van ‘n casino lisensie en die lisensie vir die Kaapse Metropool is derhalwe toegeken aan die maatskappy wat die ontwikkeling van ‘n konferensiesentrum in die suksesvolle aansoek ingesluit het. Alhoewel konferensiesentrums byna nooit winsgewend is nie, skep sodanige sentrums die moontlikheid van stedelike vernuwing en ‘n ekonomiese impak deur die besteding van konferensegangers op hotelle, voedsel, drank, vervoer en algemene toerismebesteding. Die direkte, indirekte en geleide ekonomies impak van hierdie besteding lei daartoe dat die negatiewe sosiale impak afgeskaal word en lei derhalwe daartoe dat die voordele van die wettiging van dobbel verder gevoer word deur projekte wat onwaarskynlik sou wees in die afwesigheid van die toekenning van ‘n casinolisensie. Hierdie studie demonstreer die ekonomiese impak (direk, indirek en geleide) van die Kaapse Internasionale Konferensiesentrum. Die studie demonstreer verder die impak van die studie op die bevordering van toerisme , insluitende konferensiegangers wat na Kaapstad terugkeer vir vakansiedoeleindes. Hierdie impak kulmineer in die gevolgtrekking dat die toekenning van ‘n casinolisensie behoort nie net te lei tot die ontwikkeling van ‘n alleenstaande casino nie, maar ook die ontwikkeling van toerismeinfrastruktuur wat daartoe lei dat die negatiewe sosiale impak afgeskaal word.

M.Comm. / The general conclusion arrived at in this dissertation is that the quality of infrastructure in South Africa has resulted in a large and increasing inflow of students from the other African countries. The ensuing influx of international students has been sustained through the activities of networks based on kin, acquaintance and the support of the source country governments. This has resulted in a large inflow of foreign revenue and growth of employment opportunities and income for South Africa. Although the revenue from the inflow of international students in South Africa is impressive, it is still trivial in comparison to what other countries such as the USA, the UK, Australia and China receive. Another advantage is that the presence of international students offers a potential boost to the skills shortage in South Africa. The direct benefits from international students to South Africa have the capacity to be further enhanced but a proper policy for facilitating such inflow is lacking. Certain administrative processes and practices in South Africa aggravate the situation. These procedures include visa application difficulties, university registration bureaucracy, and police behaviour. Worse still, crime and xenophobia in South Africa are common and they present some of the greatest threats to the continued inflow of international students.

Imperfect information on aspects of biodiversity conservation will constrain the extent to which tourists’ preferences for biodiversity conservation are revealed in game reserve (GR) tariffs, reducing the incentive for tourism businesses to invest in biodiversity conservation. Accreditation is an institutional approach to addressing the issue of imperfect information on biodiversity conservation. In this study, Choice Experiments (CE) and the Contingent Valuation Method (CVM) are used to estimate tourist’s willingness-to-pay (WTP) to visit biodiversity conservation accredited terrestrial nature-based tourism (NBT) destinations in selected areas of South Africa (SA). A survey of 97 domestic tourists and 96 foreign tourists was conducted at 16 private and public GR camps in north-eastern KwaZulu-Natal (NEKZN) and Mpumalanga/Limpopo Provinces (MP/LP) during October and November 2004. The survey captured socio-economic data to be used in discriminating between market segments, eighteen hypothetical CE questions and a CVM question. Analyses comparing the preferences of domestic tourists from foreign tourists, tourists visiting NEKZN from tourists visiting MP/LP and tourists visiting private GRs from tourists visiting public GRs were performed. In addition, Hierarchical Cluster Analysis (HCA) was used to identify groups of tourists with similar preferences. Respondents are grouped into three market segments according to their revealed preferences using HCA. Linear Discriminant Analysis (LDA) was used to discriminate the three groups based on socio-economic characteristics. These groups were named “Conservation Vacationers”, “Incidental Sightseers” and “Big 5 Brigade” based on socioeconomic characteristics unique to each group. The region (NEKZN or MP/LP), level of education and itinerary (independent travellers or part of tour group) were the most powerful in discriminating “Big 5 Brigade” from the other two groups in the first function. The second function primarily discriminates Conservation Vacationers from Incidental Sightseers based on membership to a wildlife society, gender and education. Results of the CE and CVM studies respectively, indicate that, overall, respondents were willing to pay premiums of R114.41 and R87.67 per person per night (all premiums are presented as per person per night, unless otherwise stated) to stay at a GR accredited with having a high standard of biodiversity conservation. Foreign tourists were, on average, willing to pay the highest premium of R136.35 for biodiversity conservation accreditation, while tourists visiting private GRs were, on average, willing to pay the lowest premium of R 96.42. A further three market segments were identified using HCA. The average WTP estimates for biodiversity conservation accreditation for Groups 1(Conservation Vacationer), 2(Incidental Sightseer) and 3(Big 5 Brigade), identified by HCA were R171.41, R66.15 and R14.94, respectively. On average, respondents in all groups, game-viewing quality was most highly valued, followed by the level of congestion. Results of this study may be useful to NBT operators and managers in developing marketing strategies targeting specific market segments. Analysis of the results by market segments indicates that CE may be a more reliable technique than CVM. Further research on the costs and benefits of biodiversity conservation accreditation is necessary to predict the extent to which NBT businesses are likely to adopt biodiversity conservation accreditation. / Thesis (M.Agric.Man.)-University of KwaZulu-Natal, Pietermaritzburg, 2007.

Water hyacinth is recognised as one of the most problematic invasive aquatic plant species in Africa. For this reason considerable funds are spent each year on itscontrol. As a consequence of the amount of money being spent on problems such as the invasion of water hyacinth, and because of the recognition of the ongoing and accelerated efforts that are required in the future, recent research has focused on accurately quantifying the costs and benefits of control of invasive species to aid policy decisions.A comprehensive cost-benefit analysis would be able to identify if the funds are justified and are being spent effectively. This thesis provides an example of a cost-benefit analysis of funds spent on the control of water hyacinth in an urban environment in South Africa. In order to develop a comprehensive assessment of the total economic value of the control of water hyacinth to an urban population, the Nahoon River in East London was selected as the study site to calculate the benefits of control. In addition to valuing the direct services provided by the resources that are traded in the market (in this case water provision), a contingent valuation study was undertaken in Abbottsford and Dorchester Heights (two suburbs in East London banking the Nahoon River). These were done in order to assess any non-use value a sample of 132 households of the population has for the control of water hyacinth, and any use values that are not traded in the market, for example recreational value. When the benefits of control of water hyacinth were compared to the costs of one of the least cost effective methods of control (herbicidal control), the benefits outweighed the costs by a ratio of more than 4:1, and for the most cost effective method of control the ratio was almost 6:1. These results provide a justification for the funds that are devoted to the control of water hyacinth, providing an argument for the continued expenditure for its control, and for further research into more cost effective methods of control, such as biological control.

The goal of the study is to examine the relationship between financial sector development and output growth in the agricultural, mining and manufacturing sectors in South Africa. The analysis is based on the hypothesis that financial development is essential for promoting production growth in an economy. To test the hypothesis, in the South African context, the vector autoregressive model (VAR) framework and Granger causality test are applied to a quarterly data set starting from 1970 quarter one to 2009 quarter four. The results suggest that financial intermediary development (bank based measure) and stock market development (market based measure) have a positive impact on output growth in the agriculture, mining and manufacturing sectors in South Africa. There is evidence of a one way causal relationship between financial sector development and sectoral output growth. Particularly, there is evidence that financial intermediary development and stock market development causes output growth in the agriculture, mining and manufacturing sectors in South Africa. However, there is no evidence showing causality running from sectoral output growth to financial sector development. The results provide evidence supporting the theory which states that financial development is essential to promote output growth in a country i.e. in our case South Africa. Thus an efficient financial system which promotes efficient channeling of resources towards the agricultural, mining and manufacturing sectors should be built.

Thesis (MScAgric)--Stellenbosch University, 1999. / ENGLISH ABSTRACT: Historically, commercial agricultural research in South Africa has been state supported, but due to recent political changes in South Africa this is changing. The political transition has been accompanied by changing economic policies, causing a tightening of public funds allocated to agricultural research. In 1992 the Agricultural Research Council was formed, primarily to enable greater industry involvement in research as a result of the expected long term budget cuts in publicly funded research. As a result there has been an increased recognition of the need to evaluate research in terms of the economic returns to investment so that decision makers have hard evidence on which to prioritize their investments. This study employs the well known production function approach to evaluate the economic benefits of publicly funded research in the South African deciduous fruit industry. In reporting the results of the research the study proceeds from an overview of the deciduous fruit industry, as well as an analysis of the structure of deciduous fruit research in South Africa. This is followed by a description of the economics of research expenditure, a description of ex post methods of evaluating the economic benefits of research, and the manner in which the data for the analysis was collected. The analysis suggests there is a statistically significant relationship between research and development and industry output as well as industry prices and output. However the results should be interpreted with care, and more effort should be made to ensure that required data are gathered. Nevertheless, the results show that increased research expenditure m the industry is justified. / AFRIKAANSE OPSOMMING: Histories gesien is kommersiele landbou-navorsing in Suid Afrika deur die owerheid ondersteun, maar as gevolg van die onlangse politieke veranderinge in Suid Afrika is hierdie toedrag van sake besig om te verander. Die politieke oorgang in die land het gepaard gegaan met 'n verandering in ekonomiese beleid, wat 'n inkorting van owerheidsbefondsing aan die Landbounavorsingsraad meegebring het. Hierdie Raad is in 1992 gestig, met die primere doe! om grater privaatsektor betrokkenheid in navorsing vanuit die betrokke sektor te verseker, as gevolg van die verwagte onttrekking van owerheidsteun. As gevolg hiervan, is daar nou 'n toenemende erkenning aan die behoefte om navorsingsprojekte te evalueer in terme van die ekonomiese opbrengs op sulke investering, sodat besluitnemers geldige bewyse het waarvolgens bestedingsprioriteite gemaak kan word. Hierdie studie gebruik die bekende produksie-funksie benadering om die ekonomiese voordele van navorsing in die Suid-Afrikaanse sagtevrugte bedryf te evalueer. Die studie begin met 'n oorsig oor die sagtevrugtebedryf, insluitend 'n analise van die navorsingstruktuur wat tans heers. Bogenoemde word gevolg deur 'n beskrywing van die bestaande ex post metodes om ekonomiese voordele van navorsing te evalueer, sowel as die wyse waarop die data vir die analiese ingesamel is. Die resultate wys dat daar 'n beduidende statiese verhouding is tussen besteding op navorsing en pryse en die opbrengs behaal deur produsente in die bedryf Hierdie resultate moet egter met sorg gelnterpreteer word, en meer moeite moet gedoen word om te verseker dat die nodige data ingesamel word. Nietemin toon die resultate dat verhoogde navorsingsbesteding in die bedryf geregverdig is

Thesis (MSc)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: The financial decision-making environment within which wine-grape producers function is challenging because of the complex interrelationships between yield, product price and input requirements. The complexity of farm systems is increased because production and financial decisions are necessarily made under uncertainty. Various issues influence the resilience of the wine industry. The goal of this study is to determine the financial implications of irrigation, integrated with canopy management practices on red wine cultivars in the Robertson area. Canopy management and irrigation cost play an important role within the multi-faceted farm system regarding yield, quality and input cost. This necessitates that research be carried out within the context of a systems approach. In this manner the interdependence among the various components of the farm system, and the associated synergies can be captured. Farm management, as a field of research, is dependent on other disciplines that present an alternative perspective to the research problem. Viticulture trials specifically focused on the impact of various irrigation and canopy management activities is being done on Wansbek farm. Nine treatments were tested at various combinations of soil water depletion levels and canopy management strategies. The farm is situated in Agterkliphoogte, an area in the Robertson valley. A multi-disciplinary group discussion was held to firstly obtain insight in the complex working of a farm. Secondly the group discussion was used to gain insight into the application of the Wansbek trial data and the setting of guidelines as to its application to determine the expected farm level financial implications of the treatments. Dealing with complexity necessitates insight form various areas of expertise, which is achieved time efficiently within expert group discussions. A quantitative method is required to reflect the interrelatedness and dynamics of a whole farm system in a user-friendly manner. Multi-period budget models present the ability to accommodate the complexity associated with a farm through a sequence of mathematical and accounting equations. The physical/biological interrelations and structure of the farm can be modelled while the financial performance of various irrigation and canopy management strategies can be determined. Farm-level profitability is especially sensitive to yield and price of farm products. The treatments that showed the highest expected profitability, return relatively high yields and prices at relatively low production costs. The sprawling canopy management treatment at c. 60% and c. 30% plant available water depletion levels returned the highest and second highest profitability at both gross margin per hectare and whole farm level. Scenarios were incorporated to illustrate the expected impact of key variables and the capability of the model. Key factors associated with the success of specific treatments could be identified. Results showed throughout that the balance between yield, price and input cost are the determining factor to profitability, rather than a focus on any particular one of these factors. / AFRIKAANSE OPSOMMING: Die finansiële besluitnemingsomgewing waarbinne wyndruifprodusente funksioneer, is uitdagend weens die komplekse verwantskappe tussen oesopbrengs en -kwaliteit en gepaardgaande insetbehoeftes. Die kompleksiteit van die boerderystelsels word verhoog deurdat produksie- en finansiële besluite noodwendig op grond van onvolmaakte inligting geneem word. Verskeie kwessies beïnvloed die voortbestaan van die wynbedryf. Die doel van hierdie studie is om die finansiële implikasies te bepaal van besproeiing, geïntegreer met lowerbestuur, vir rooi wyndruifverbouing in die Robertson-wynvallei. Lowerbestuur- en besproeiingkoste speel ʼn belangrike rol binne die multifasettigheid van ʼn boerderystelsel ten opsigte van opbrengs, kwaliteit en produksiekoste. Dit vereis dat die navorsing binne die konteks van die stelselsbenadering aangespreek word. Sodoende word die interafhanklikheid tussen die onderskeie boerderystelselkomponente, gekoppel aan die sinergistiese effek wat daarmee gepaardgaan, in ag geneem. Boerderybestuur as navorsingsveld, is gevolglik afhanklik van ander vakdissiplines wat ‘n alternatiewe perspektief verleen aan die navorsingsprobleem. Wingerdbouproewe wat spesifiek fokus op die impak van verskillende besproeiing- en lowerbestuursaksies word uitgevoer op die Wansbek-plaas. Die plaas is geleë te Agterkliphoogte, ʼn area in die Robertson-vallei. Nege behandelings is getoets teen verskillende kombinasies van plant beskikbare water (PBW)-onttrekkingspeile en lowerbestuurstrategieë. ʼn Groepsbespreking met multidissiplinêre deskundiges is gehou om eerstens, insig in die kompleksiteit van die werking van ʼn plaas te verkry. Tweedens, is die groep van multidissiplinêre deskundiges gebruik om insig te verwerf aangaande die hantering van die Wansbek-proefdata. Die groep het riglyne daargestel om die proefdata prakties aan te wend sodat die verwagte finansiële implikasies op plaasvlak geëvalueer kan word. Die hantering van kompleksiteit vereis insig vanuit verskeie gebiede van kundigheid wat tydsdoeltreffend binne ʼn groepsbespreking van multidissiplinêre deskundiges geakkommodeer kan word. ʼn Kwantitatiewe tegniek is nodig om die wisselwerking en dinamika van ʼn geheelboerderystelsel op ʼn gebruikersvriendelike en toepaslike manier te weerspieël. Multiperiode-begrotingsmodelle gee die vermoë om die kompleksiteit, wat met ʼn tipiese plaas geassosieer word, te akkommodeer deur die toepassing van basiese wiskundige en rekeningkundige beginsels. Die fisies-biologiese wisselwerking en struktuur van die plaas kan sodoende gemodelleer word, terwyl die finansiële prestasie van die kombinasies van verskillende besproeiing- en lowerbestuurstrategieë bepaal kan word. Die plaasvlakwinsgewendheid is veral sensitief vir die opbrengs en prys van produkte gelewer. Die behandelings wat die beste verwagte winsgewendheid getoon het, produseer teen ʼn relatiewe hoë produksie en prys en ’n relatiewe lae produksiekoste. Die oophanglowerbestuurbehandeling teen c. 60% en c. 30% plant beskikbare water-onttrekkingspeile is die mees en tweede mees winsgewende strategieë op per hektaar bruto marge en geheelplaasvlak. Die gebruik van scenario’s is geïnkorporeer om die impak van sleutelveranderlikes uit te wys en die vermoë van die model te illustreer. Sleutelfaktore tot die sukses wat aan sekere strategieë verbind word, kan sodoende uitgewys word. Deurgaans wys die resultate dat die balans tussen opbrengs, prys en produksiekoste belangriker is as die fokus op enige enkele een van die faktore.