This thesis deals with the problems of optimal grading, employee performance evaluation by unaccountable managers, and the evolution of inequity-averse preferences. The purpose is to explain certain stylized facts related to these problems, and this is attempted with the help of contract-theoretic models. Chapter 1 of this thesis studies a teacher-student relationship as a principal-agent model with a costless reward structure. The model shows that the stylized fact of a mismatch and low correlation between students' abilities and their grades can be the expected-effort-maximizing outcome of teachers' optimal grading. Chapter 2 presents a three-tier model of a firm's economic organization, which is centered on the observation that managers do not fully internalize the payroll expenses they incur. With the idea that the degree of manager accountability varies inversely with firm size, the model predicts that the compression of ratings, the large-firm wage premium, and the inverse relationship between wage dispersion and firm size can actually be equilibrium outcomes. The last chapter presents an evolutionary argument for the endogeneity of people's preferences with respect to market exposure. It shows that aversion to income inequality observed empirically could have evolved as an optimal response to merchants' price discrimination. / <p>Diss. Stockholm : Handelshögskolan, 2009</p>

M.Comm. / Belastinginsentiewe is daarop gemik om handel met ander lande te bevorder deur buitelandse beleggers aan te moedig om hul geld in die betrokke land te investeer. Dit dien terselfdertyd as aansporing om in spesifieke besighede te bele of spesifieke bedrywe te beoefen. Die studie het ten doel om belastinginsentiewe in Suid-Afrika te ontleed en dit te vergelyk met die van ander lande. Waar moontlik word aanbevelings gemaak oor hoe en waar daar in Suid-Afrika beter van belastinginsentiewe gebruik gemaak kan word. Daar word spesifieke aandag aan die toepassing van die belastinginsentiewe in die verskillende lande gegee.

Global energy constraints and economic conditions have placed large energy consumers under pressure to conserve resources. Several governments have acknowledged this and have employed policies to address energy shortages. In South Africa, the lacking electrical infrastructure caused severe electricity supply shortages during recent years. To alleviate the shortage, the government has revised numerous energy policies. Consumers stand to gain nancially if they embrace the opportunities o ered by the revised policies. Energy management systems provide a framework that ensures alignment with speci cations of the respective programs. Such a system requires a data consolidation platform to import and manage relevant data. A stored combination of consumption data, production data and nancial data can be used to extract information for numerous reporting applications. This study discusses the development of a data consolidation platform. The platform is used to collect and maintain energy related data. The platform is capable of consolidating a wide range of energy and production data into a single data set. The generic platform architecture o ers users the ability to manage a wide range of data from several sources. In order to generate reports, the platform was integrated with an existing software based energy management system. The integrated system provides a web-based interface that allows the generation and distribution of various reports. To do this the system accesses the consolidated data set. The developed energy information tool is used by an ESCo to gather and consolidate data from multiple client systems into a single repository. Speci c reports are generated by the integrated system and can be targeted at both consumers and governing bodies. The system complies with draft legislative guidelines and has been successfully implemented as a energy information tool in practice. / MIng (Computer and Electronic Engineering), North-West University, Potchefstroom Campus, 2015

Global energy constraints and economic conditions have placed large energy consumers under pressure to conserve resources. Several governments have acknowledged this and have employed policies to address energy shortages. In South Africa, the lacking electrical infrastructure caused severe electricity supply shortages during recent years. To alleviate the shortage, the government has revised numerous energy policies. Consumers stand to gain nancially if they embrace the opportunities o ered by the revised policies. Energy management systems provide a framework that ensures alignment with speci cations of the respective programs. Such a system requires a data consolidation platform to import and manage relevant data. A stored combination of consumption data, production data and nancial data can be used to extract information for numerous reporting applications. This study discusses the development of a data consolidation platform. The platform is used to collect and maintain energy related data. The platform is capable of consolidating a wide range of energy and production data into a single data set. The generic platform architecture o ers users the ability to manage a wide range of data from several sources. In order to generate reports, the platform was integrated with an existing software based energy management system. The integrated system provides a web-based interface that allows the generation and distribution of various reports. To do this the system accesses the consolidated data set. The developed energy information tool is used by an ESCo to gather and consolidate data from multiple client systems into a single repository. Speci c reports are generated by the integrated system and can be targeted at both consumers and governing bodies. The system complies with draft legislative guidelines and has been successfully implemented as a energy information tool in practice. / MIng (Computer and Electronic Engineering), North-West University, Potchefstroom Campus, 2015

Capacity remuneration mechanisms (CRMs) are “climbing” regulatory agendas in all liberalised power sectors, especially in the European Union. CRMs are introduced to improve system reliability and to minimise power shortages to an economically efficient extent. These schemes will have a central role in future power systems. This PhD thesis provides an in-depth review of CRM design elements and recommendations to increase their efficiency and effectiveness, particularly in view of the challenges that these mechanisms have to confront in the current power sector environment, characterised by the pursuit of decarbonisation. The attention is focused here on the interaction with regional market integration, the need for properly-designed performance incentives, and the interaction with renewable technologies. The research is based on empirical evidence collected from international experiences, which is complemented, where applicable, by a model-based analysis to examine specific design elements. The outcomes of this PhD thesis can be summarised as follows. The participation of cross-border resources in national CRMs must be guaranteed in order to fully seize the benefits of regional market integration. However, this participation requires a strong commitment from power systems (and governments) in the regional market and the implementation of network codes and market rules that deter system operators from blocking exports when the latter are the outcome of an efficient market clearing. Where short-term markets are coordinated through market coupling, the algorithm must include a conditional nomination rule that ensures that, during regional scarcity conditions, available resources are assigned to those consumers that paid for them in the CRM market. CRMs must rely on robust performance incentives that foster the actual delivery of the committed capacity. High penalty rates may increase the cost of the capacity market, but the overall cost of electricity supply may decrease. Renewable technologies should be allowed to participate in CRMs and should be exposed to the market signals provided by these mechanisms. If renewable and conventional technologies must compete in the same markets, they should do it subject to the same rules. Obviously this participation must be coordinated with renewable support schemes, discounting CRM revenues. / <p>QC 20160411</p>

Thesis (MAcc)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: The comparative study of tax incentive legislation in South Africa, Australia and Canada for small businesses confirmed that tax incentives in South Africa are on par with those of said developed countries. The study compared tax incentives for income tax, capital gains tax and sales tax after the operation of the specific taxes was researched and the tax incentives identified. It is concluded in the study that there are tax incentives legislated in Australia and Canada that may enhance current South African tax incentives or which may be introduced as new tax incentives. These incentives may facilitate and stimulate economic growth and development in the country. / AFRIKAANSE OPSOMMING: Die vergelykende studie van belastingvergunnings vir klein besighede in Suid-Afrika, Australië en Kanada het bevestig dat belastingvergunnings in Suid-Afrika op standaard is met dié van ontwikkelde lande. Die studie het inkomstebelasting, kapitaalwinsbelasting en verkoopsbelasting vergelyk nadat die werking van die gespesifiseerde belastings nagevors en die belastingvergunnings van toepassing geïdentifiseer is. In die studie word daar tot die gevolgtrekking gekom dat daar belastingvergunnings in Australië en Kanada is wat of die huidige belastingvergunnings in Suid-Afrika kan uitbrei of as nuwe belastingvergunnings in Suid-Afrika geimplementeer kan word. Die gewysigde en nuwe belastingvergunnings mag moontlik bydra tot verdere groei en ontwikkeling in Suid-Afrika.

Thesis PhD)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: ABSTRACT Chapter 1 investigates teacher wages in the South African labour market, in order to ascertain whether teaching is a financially attractive profession, and whether high ability individuals are likely to be attracted to the teaching force. Making use of labour force survey data for the years 2000 to 2007 and for 2010, wage returns to educational attainment and experience are measured for teachers, non-teachers and non-teaching professionals. The returns to higher levels of education for teachers are significantly lower than for non-teachers and non-teaching professionals. Similarly, the age-wage profile for teachers is significantly flatter than it is for non-teachers, indicating that there is little wage incentive to remain in teaching beyond roughly 12 years. The profession is therefore unlikely to attract high ability individuals who are able to collect attractive remuneration elsewhere in the labour market. Chapter 2 deals with explicit teacher incentives in education. It provides a technical analysis of Holstrom and Milgrom’s (1991) multitasking model and Kandel and Lazear’s (1992) model of peer pressure as an incentivising force, highlighting aspects of these models that are necessary to ensure that incentive systems operate successfully. The chapter provides an overview of incentive systems internationally, discussing elements of various systems that may be useful in a South African setting. The prospects for the introduction of incentives in South Africa are discussed, with the conclusion that the systems in place at the moment are not conducive to introducing teacher incentives. There are however models in Chile and Brazil, for example, that may work effectively in a South African setting, given their explicit handling of inequality within the education system. Chapter 3 makes use of hierarchical linear modelling to investigate which teacher characteristics impact significantly on student performance. Using data from the SACMEQ III study of 2007, an interesting and potentially important finding is that younger teachers are better able to improve the mean mathematics performance of their students. Furthermore, younger teachers themselves perform better on subject tests than do their older counterparts. Changes in teacher education in the late 1990s and early 2000s may explain the differences in the performance of younger teachers relative to their older counterparts. However, further investigation is required to fully understand these differences. / AFRIKAANSE OPSOMMING: In Hoofstuk 1 word die lone van onderwysers in die Suid-Afrikaanse arbeidsmark ondersoek om vas te stel of onderwys ʼn finansieel aantreklike beroep is en hoe waarskynlik dit is dat mense met sterk vermoëns na die onderwys gelok sal word. Met gebruik van arbeidsmagopnamedata van 2000 tot 2007 en van 2010 word die loonopbrengs op jare onderwys en ervaring vir onderwysers, nie-onderwysers en beroepslui buite die onderwys gemeet. Die opbrengste vir hoër vlakke van opvoeding is beduidend laer vir onderwysers as vir nie-onderwysers en nie-onderwys beroepslui. Netso is die ouderdom-loonprofiel van onderwysers beduidend platter as vir nie-onderwysers, wat dui op weinig looninsentief om langer as ongeveer 12 jaar in die onderwysveld te bly. Dit is dus onwaarskynlik dat hierdie beroep baie bekwame mense sal lok wat elders in die arbeidsmark goed sou kon verdien. In Hoofstuk 2 word na eksplisiete insentiewe in die onderwys gekyk. Die hoofstuk verskaf ʼn tegniese analise van die multi-taak-model van Holstrom en Milgrom (1991) en van Kandel en Lazear (1992) se model van portuur-druk as aansporingskrag, met klem op die aspekte van hierdie modelle wat in Suid-Afrikaanse omstandighede van nut mag wees. Vooruitsigte vir die instelling van insentiewe in Suid-Afrika word bespreek, met die slotsom dat die stelsels wat tans in plek is nie bevorderlik vir die instelling van onderwysersinsentiewe is nie. Daar is egter modelle in byvoorbeeld Chili en Brasilië wat effektief in Suid-Afrikaanse omstandighede sou kon funksioneer, gegewe hulle eksplisiete klem op ongelykheid binne die onderwys. In Hoofstuk 3 word hiërargiese liniêre programmering gebruik om te ondersoek watter eienskappe van onderwysers ʼn belangrike invloed op studenteprestasie uitoefen. Met gebruik van data van die SACMEQ III studie van 2007 is ʼn interessante bevinding dat jonger onderwysers beter in staat is om die gemiddelde wiskunde prestasie van hulle student te verbeter. Verder vertoon sulke jonger onderwysers self ook beter in die vaktoetse in Wiskunde en taal as hulle ouer kollegas. Veranderings in onderwysopleiding in die laat negentigerjare en vroeë jare van hierdie eeu kan dalk die verskille in die vertonings van jonger onderwysers relatief tot hulle ouer eweknieë verklaar. Verdere ondersoek is egter nodig om hierdie verskille beter te verstaan.

Firms have since long given their regular customers special treatment. With the help of IT, many firms have established formal ways to do this. An example is a so-called customer rewards program (CRP), by which the firm rewards the customer for repeated purchase. Firms allocate large resources in these programs with millions of customers enrolled. Hence, it seems important that the CRP works effectively. By effective we mean that it increases sales. Whether it is effective or not is a matter of how it is designed. A CRP typically comes with membership levels. We study how many membership levels the firm should offer in an effective program. We also study if customers prefer individual or group rewards and whether a CRP can break and create habitual purchasing behavior. In the study, we also analyze under what conditions the customer prefers a CRP over a sales promotion. In general, the study adds to the understanding of Customer Rewards Programs as an incentive structure. There are many different ways to design these incentives and especially the continuing development of IT is expected to influence the future design and role of these types of programs. This study is part of the Swedish Research School of Management and Information Technology (MIT) which is one of 16 national research schools supported by the Swedish Government. MIT is jointly operated by the following institutions: Blekinge Institute of Technology, Gotland University College, Jönköping International Business School, Karlstad University, Linköping University, Lund University, Mälardalen University College, Stockholm University, Växjö University, Örebro University, IT University of Göteborg, and Uppsala University, host to the research school. At the Swedish Research School of Management and Information Technology (MIT), research is conducted, and doctoral education provided, in three fields: management information systems, business administration, and informatics.

<p>The purpose of our master thesis was to investigate what motivates assembly line workers performing low-skill jobs in a small industrial laundry business. We wanted to see what fac-tors determine and influence their motivation to work and if and how this motivation can be improved with respect to assembly line systems in general. The method of our investiga-tion was qualitative in nature, where we studied one firm that leases clean bed clothes and textiles to hotels and restaurants around Sweden. We constructed a survey on motivation and handed it out to the assembly line workers who deal with the laundry. Furthermore, we interviewed the shift manager in order to get the company’s view on employee motivation. Our findings indicate that there are several overlapping factors that determine and influ-ence motivation in the long run. From this particular case we saw that a unified working culture and collective efforts both boost the willingness to work and help the process run smoothly. Furthermore, proper communication is motivating, where everyone should be committed to company goals, but the workers should be able to take part in profits, and not just generate them. Also, employees have to be considered as important as customers are. Another factor is to have the right resources to execute company plans, such as proper working techniques that minimise stress, injuries and frustration, and more responsibility that allows employees to see the whole system by learning about the technical aspects, or engaging in customer contacts. When trust builds up between the workers and the man-agement, there will be less need for a controlling boss, and people will be more motivated to work when they are not constantly monitored by their leader. In addition, more CEO visits are encouraged at plant level, because they send the signal that the company cares about all its employees. Finally, a crucial factor is feedback, where the firm should not only criticise, but praise everyone for a job well done. This way, the workers will feel worthy. When long term factors are weak or missing in the company, the only motivation for the people is money. However, money can work as a short term and a long term motivator be-cause it serves as a tool to satisfy needs of both security and self esteem outside work. Con-sidering motivation and assembly lines in general, when the assembly line is at its core, where efficiency is the goal and workers serve as means to get there, the only motivation is money, and possibly working colleagues. Intrinsic motivation can be reached by moving away from the actual system and performing other tasks. Still, the long term factors can improve the situation to a certain extent, but sooner or later everyone will turn into a well oiled machine with no further ways to improve motivation, since boredom and routines will remain. One goes from being a cog in the machinery to an integral part of a successful engine. It is still the same content, but in a different package.</p>

For investors in a given tax bracket, bonds with certain combinations of price and maturity may dominate other bonds. If markets are complete, S. M. Schaefer proved that a prohibition on short sales will give rise to tax-induced clienteles. Thus, bonds classified into groups by price and maturity may be held by investors in different tax brackets. Because of the tax advantages associated with discount bonds, there should be a tendency for high tax bracket investors to hold discount bonds and for low tax bracket investors to hold par and near-par bonds. An empirical consquence of this is that the after-tax term structure and implied tax rates may be different across different sets of bonds. The objective of this study is to test empirically for tax-induced clienteles in the market for government bonds with a regression methodology. Nonlinear least squares is used to simultaneously estimate the after-tax term structure and the corresponding implied tax rates. The estimation is performed on each group separately and on the entire sample. The null hypothesis is that the sets of parameters describing the after-tax term structure are equal across the groups. The alternative hypothesis, which will be termed the tax clientele hypothesis, is that sets of parameters are not equal across the groups.