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An analysis of transfer pricing theory reveals that there are three main objectives of a transfer pricing system: the attainment of goal congruence, the facilitation of fair divisional performance evaluation and the promotion of divisional autonomy. A critical evaluation of suggested theoretically correct transfer pricing methods suggests that the simultaneous attainment of all three objectives is a difficult goal to be realised by a single transfer pricing method. The most appropriate method to suit a particular set of circumstances is contingent upon those circumstances. The transfer pricing objective considered most important in practice by large listed South African industrial companies is the facilitation of fair divisional performance evaluation. Objectives relating to simplicity and ease of application are also rated more highly than goal congruence. Both these findings are somewhat surprising based on the review of current literature. The domestic transfer pricing methods used by large listed South African industrial companies are fairly evenly split between cost and non-cost-oriented methods. The most frequently used primary transfer pricing method is market price. The use of mathematical programming and economic marginal cost prices is practically non-existent. These findings are consistent with the findings of some recent overseas studies. Policies relating to the selection of the transfer pricing method, the purchase of intermediate goods and services and the settlement of transfer pricing disputes reflects some head office management involvement in the transfer price decision process in most cases. Three organisational variables appear to have a significant association with a firm's choice of transfer pricing method. Firstly, companies with a low level of interdivisional trading use non-cost oriented transfer pricing methods whereas companies with a high level of interdivisional trading use cost-oriented methods. Secondly, transfer pricing methods selected as a result of some head office management involvement tend to be cost-oriented whereas methods selected by the divisions themselves tend to be non-cost-oriented. Thirdly, cost-oriented methods tend to be used in companies in which transfer pricing disputes are normally settled by some form of head office intervention and non-cost oriented methods are used in those companies in which disputes are normally settled by the divisions themselves. / Thesis (M.Acc.)-University of Natal, Pietermaritzburg, 1997.

Thesis (M. Tech.) - Central University of Technology, Free State, 2006 / Since the earliest days, people have travelled. Not only was it time consuming, limited and only for the rich, but it was not necessarily a pleasure. Since those early days, travel and tourism has developed to such an extent that it has become one of the major industries in the world, providing the tourist with amongst others technologically advanced air transportation, luxury resorts and a variety of experiences and attractions at many different destinations. The major developments in air transportation have opened up many opportunities, but it has also placed most destinations within easy reach of the tourist, as most destinations have become more accessible. This automatically led to increased competitiveness between different destinations, both locally and internationally. Competitiveness of the destination may be based on a variety of contributing factors such as its scenic beauty, the variety of attractions offered, natural resources, the accessibility, the host population, availability and quality of infrastructure, diseases, flight availability and frequency, seasons and many other factors. However, a destination will never become the most popular or most visited one if the tourist cannot afford to visit it. Price undoubtedly plays a very important role in the decision-making process of the tourist when choosing a destination. The prices at any destination are influenced by a variety of internal and external factors which, in the end, has a direct influence of the actual travel cost of the tourist. This study focuses on South Africa’s price competitiveness as an international destination. The major travel components or products that an international tourist will spend money on during his/her visit to South Africa are international flights, accommodation, attractions and food and beverages. The prices of these components were compared to similar products of Thailand and Australia, which have previously been identified by SA Tourism as South Africa’s major competitors. The focus of the research is therefore on the expenditure patterns, price perceptions and the tourists’ perception of whether or not they perceived South Africa’s tourism products to be affordable, to offer value for money or not. Perceptions of departing international tourists who have already used these products were tested. Once established, an international travel price index and a hotel price index were formulated for South Africa, which may be used to monitor international tourist expenses. These indices may also be used as indicator of the affordability and price competitiveness of South Africa as a tourist destination. There is not one individual in South Africa that cannot, either by means of direct or indirect revenue, benefit from South Africa being a tourist destination of choice. The opportunities and possibilities created by foreign revenue spent are legio. Hence it comes as no surprise that tourism in South Africa has become the priority of many different role players such as government, commerce, product owners and private industries. As it is difficult for a destination to control the external environment, the destination’s focus should therefore rather be on the factors that it can control or influence to a certain extent. By ensuring that South Africa’s tourism products are competitively priced and offer value for money, one of the major factors that may hamper the growth of South Africa as a destination has been addressed. In economic challenging conditions, the tourist has become more value for money driven than before when choosing a destination. The focus of the research is therefore to establish if South Africa’s tourism product prices are regarded to provide value for money or not to international tourists. The research was divided into two parts: literature and empirical research. The population of this study was foreign tourists to South Africa that have completed their journey and who were questioned in the departure halls of Johannesburg’s Oliver Thambo and Cape Town International airports. An overview of the research results give a general indication that South African tourism products are more expensive than was anticipated by foreign tourists. Seventy five percent of respondents indicated that they paid more for accommodation, air transportation and attractions than they expected to pay. Of the different accommodation types used, the five star luxury hotel accommodations were found to be too expensive whilst other graded accommodation were perceived as being priced fairly, even cheaply. The paid attractions that the respondents visited were, with the exception of the Kruger National Park, all fairly priced. Cape Town was indicated as a city that was perceived to be more expensive that other cities visited by international tourists.

From Introduction: 1. Background to the thesis: During the 1950' sand 1960' s it would appear that the explicit objectives of economic policy in South Africa were full employment and economic growth with some occasional emphasis on the pursuit of relative price stability. Other goals such as efficiency in resource allocation and the pursuit of an "acceptable" income distribution were at best implicit and subordinate to these objectives. This is exemplified by the fact that a number of key prices which were controlled by the authorities such as the exchange rate, interest rates and public utility tariffs were generally set at levels which were either over- or under-priced relative to factor scarcities throughout this period.

Thesis (MTech (Civil Engineering))--Cape Peninsula University of Technology, 2008. / There is an ever increasing need to introduce travel demand measures as the ability to construct new and upgrade existing roads to accommodate additional traffic volumes decreases. The City of Cape Town, hereinafter referred to as the City, has forecasted that traffic in the city could continue to increase by two and a half percent per year. To mitigate against the increased traffic volumes, the City is proposing a number of travel demand strategies, including a park and-ride facilities and high occupancy vehicle initiatives in the short term. The City’s draft travel demand management strategy identifies congestion charging as a measure more possible implementation in the medium term. This study investigates the feasibility of introducing a congestion charge from a traffic engineering perspective. This entails determining if there could be a reduction in traffic entering the Central Business District, what type of congestion charge is most suited for Cape Town and what type of technology is most appropriate at this point in time. In determining the type of charge and technology for introduction in Cape Town, international experience and trials were drawn upon in terms of case studies and research completed. These included developed and developing cities that had either introduced a congestion charge or considered it. To determine the potential level of traffic reduction, transportation elasticities for road pricing/congestion charging were used. This method of calculating the traffic reduction has been used on similar studies and provides a reasonable indication of the potential percentage reduction which could be achieved. The elasticities were based on post-implementation studies undertaken in cities which had introduced a congestion charge or road user pricing. For this study, elasticities between -0.1 and -0.5 were used. The study found that of the types of congestion charging available, a simple cordon charge, around the central business district (CBD) was most feasible. A cordon area would be more appropriate due to the small charge area involved, the flexibility that it allows and because it does not need to be visually intrusive in terms of roadside and enforcement equipment. The location of the cordon area also allows the key roads around the CBD to become the bypass route for vehicles that currently pass through the area. In terms of the charge payment system, it was found that presently, a manual payment system would be more appropriate for the city than a tag and beacon system.

Die doel van hierdie studie is om `n omvattende prysbepalingsmodel te ontwikkel vir vinnige bewegende voedselsoorte, met spesifieke verwysing na die mieliemeelbedryf. Deur navorsing wat gedoen is het dit aan die lig gekom dat daar nie `n enkele model bestaan wat prysbepaling in totaal aanspreek nie. Die model wat in hierdie verhandeling ontwikkel is, sal kan dien as `n omvattende prysbepalingsmodel en ook diegene wat nie bekend is met die prysbepalingsproses nie, tot voordeel strek. Hoofstuk 2 bied `n literatuurstudie van die faktore of komponente wat tydens prysbepaling verantwoord moet word. Hoofstuk 3 bied `n empiriese oorsig van die prysbepalingsmetodes wat TWK meulens aangewend het om die pryse van hulle klaarprodukte te bepaal, en hoe `n prysbepalingsmodel aangewend is om die winsgewendheid van die meulens te verhoog. Hoofstuk 4 word gewy aan die ontwikkeling van `n omvattende prysbepalingsmodel wat deur die mieliemeulebedryf en ander vervaardigers van vinnig bewegende voedselsoorte aangewend kan word. Hoofstuk 5 verskaf `n samevatting en riglyne vir verdere navorsing. / Business Management / M.Com. (Business Management)

Die doel van hierdie studie is om `n omvattende prysbepalingsmodel te ontwikkel vir vinnige bewegende voedselsoorte, met spesifieke verwysing na die mieliemeelbedryf. Deur navorsing wat gedoen is het dit aan die lig gekom dat daar nie `n enkele model bestaan wat prysbepaling in totaal aanspreek nie. Die model wat in hierdie verhandeling ontwikkel is, sal kan dien as `n omvattende prysbepalingsmodel en ook diegene wat nie bekend is met die prysbepalingsproses nie, tot voordeel strek. Hoofstuk 2 bied `n literatuurstudie van die faktore of komponente wat tydens prysbepaling verantwoord moet word. Hoofstuk 3 bied `n empiriese oorsig van die prysbepalingsmetodes wat TWK meulens aangewend het om die pryse van hulle klaarprodukte te bepaal, en hoe `n prysbepalingsmodel aangewend is om die winsgewendheid van die meulens te verhoog. Hoofstuk 4 word gewy aan die ontwikkeling van `n omvattende prysbepalingsmodel wat deur die mieliemeulebedryf en ander vervaardigers van vinnig bewegende voedselsoorte aangewend kan word. Hoofstuk 5 verskaf `n samevatting en riglyne vir verdere navorsing. / Business Management / M.Com. (Business Management)

Thesis (MBA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: Retail sales promotions are one of the most fundamental and high profile concepts of retail marketing. Everyday consumers are bombarded with various forms of information regarding sales promotions. Manufacturers and retailers go to great expense, up to 75% of the United States' marketing expenditures are spent on promotions (Lewison, 1994), but very little is done to measure the effectiveness of these promotional activities (Walters, 1991). Price promotions form an integral part of the marketing strategies of both manufacturers and retailers, yet they are often neglected in terms of assessing their impact on the marketing strategies of individual products. Lewison (1994) supports this statement by saying, "the precise positioning of sales promotion in terms of marketing strategy is often vague". "The increase in sales promotion spending in consumer goods field is greater than that of advertising promotion. However, it is important to know that a substantial part of this money is being misspent, some of it through poor planning" (Shapiro 1977). This statement is dated and probably aimed at the American retail market in particular, but it evokes some relevant questions about the South African domestic market. Are our manufacturers and retailers misspending valuable promotional budget on poorly planned and illogical sales promotions? An article in Sales and Marketing Management (1979) made a good, and relevant, point that "sales promotion is an orphan child of marketing. Both sales promotion budgets and sales promotion objectives are virtually ignored by senior management". More than twenty years later one would expect that the effectiveness of promotions would be monitored more closely and the promotional budgets of both manufacturers and retailers would be subject to close scrutiny by marketing directors. This appears, however, not to be the case, and little study has been done, particularly in South Africa, on the profitability and marketing effectiveness of price promotions within the retail grocery market. The use of trade promotions has risen considerably during the late 20th century. Within companies intense competition and increasing sophistication in sales promotion techniques together with a greater pressure to increase sales has resulted in an increased frequency of promotions. .Market factors have also fostered an increase in promotions. These factors include a rise in the number of brands (especially generic brands) and a decrease in the efficiency of traditional advertising due to increasingly fragmented consumer markets and advertising 'clutter'. A review of the marketing literature on grocery retail price promotions appears to be indicating a move toward a new approach to retailing which sees more focus being given to cutting costs out of the system, usually through improvements to the supply chain. Retail giant Wal-Mart introduced a policy of Every Day Low Pricing (EDLP) and moved heavily toward certain supply chain methodologies like Quick Response and Efficient Consumer Response which focus on reducing inventories and increasing supply chain efficiencies. These policies shun the retail sales promotion in favour of more constant sales trends and supply of goods. It appears that this policy is working, and not just in America, but in Canada and Germany as well (Kalish, 2000). This paper will focus on the inefficiencies of the traditional South African retail price promotion, particularly prevalent in the grocery chains, versus the current American and European retail promotion techniques that focus less on temporary price reductions and more on eliminating costs out of the value chain. A current South African price promotion model is given and a price promotion model for the future is proposed. Without a more complete study it would be immature to think that this paper could be a definitive study of the reasons, cause, and effects of retail price promotions, rather it is intended as a stimulus for further research in this area. This mini-thesis looks at pricing policies in the South African grocery retail market relative to international trends. Particular detail is paid to the grocery value chain and the effects of retail price reduction promotions on the supply chains within the value chain. Inefficiencies in the current South African pricing system are highlighted from both a marketing and a supply chain management perspective. A future value chain is proposed and the migration to this new value chain discussed. International trends like EDLP are discussed with relevance to the South African grocery retail market. / AFRIKAANSE OPSOMMING: Kleinhandel reklame promosies is een van die mees fundamentele and hoë profiel begrippe van kleinhandel bemarking. Daaglikse verbruikers word gebombardeer met verskeie vorms van inligting betreffende reklame promosies. Vervaardigers en kleinhandelaars gaan groot kostes aan, tot 75% van die Verenigde State se bemarkingsuitgawes is gemik op promosies (Lewison, 1994), maar daar word baie min gedoen om die doeltreffendheid van hierdie promosionele aktiwiteite te meet (Walters, 1991). Prys promosies vorm 'n integrale deel van die bemarkingstrategie van beide vervaardigers en kleinhandelaars, nogtans word hulle dikwels afgeskeep in terme van die beraming van hulle impak op die bemarkingstrategieë van individuele produkte. Lewison (1994) steun hierdie bewering deur op te merk dat, "the precise positioning of sales promotion in terms of marketing strategy is often vague". "The increase in sales promotion spending in consumer goods field is greater than that of advertising promotion. However, it is important to know that a substantial part of this money is being misspent, some of it through poor planning" (Shapiro, 1977). Hierdie opmerking is verouderd en waarskynlik spesifiek gerig op die Amerikaanse kleinhandel mark, maar lok sekere relevante vrae uit in verband met die Suid Afrikaanse plaaslike mark. Is ons vervaardigers en kleinhandelaars besig om waardevolle promosie begrotings op ondeurdagte en onlogiese reklame promosies te verkwis? 'n Artikel in "Sales en Marketing Management" (1979) maak die goeie en relevante punt dat "sales promotion is an orphan child of marketing. Both sales promotion budgets and sales promotion objectives are virtually ignored by senior management". Meer as twintig jaar later sou mens verwag dat die effektiwiteit van promosies in detail gemonitor word en die promosie begrotings van beide vervaardigers en kleinhandelaars noukeurig bestudeer word deur bemarkingsdirekteure. Dit blyk nie die geval te wees nie en, veral in Suid Afrika, is daar min navorsing gedoen oor die winsgewendheid en bemarkings effektiwiteit van reklame promosies binne die kleinhandel kruideniersmark. Die gebruik van handelspromosies het merkbaar gestyg in the laat twintigste eeu. Binne ondernemings het intensiewe kompetisie en toenemend gesofistikeerde handelspromosietegnieke tesame met groter druk om reklame syfers te laat styg gelei tot 'n toename in die frekwensie van promosies. Hierdie faktore sluit in 'n styging in die aantal handelsmerke (veral generiese handelsmerke) en 'n afname in die doeltreffendheid van tradisionele advertering weens toenemend gefragmenteerde verbruikersmarkte en advertensie "romme!". 'n Hersiening van die bemarkingsliteratuur op kruideniershandel reklamepromosies blyk daarop te dui dat 'n verskuiwing plaasvind na 'n nuwe benadering waarin meer fokus daarop geplaas word om kostes in die sisteem te sny, gewoonlik deur middel van verbeteringe aan die verskaffingsketting. Kleinhandel reus Wal-Mart het 'n beleid van "Every Day Low Pricing (EDLP)" ingestel en sterk beweeg na sekere verskaffingsketting metodologie soos "Quick Response" en "Efficient Consumer Response" wat fokus op die verminderde inventarisse en verhoogde doeltreffendheid in die verskaffingsketting. Hierdie beleide vermy die kleinhandel reklame promosie ten gunste van meer konstante reklame tendense en verskaffing van goedere. Dit blyk dat hierdie beleid besig is om te werk, nie net in die Verenigde State nie, maar ook in Kanada en Duitsland (Kalish, 2000). Hierdie werkstuk sal fokus op die ondoeltreffendheid van die tradisionele Suid Afrikaanse reklame prys promosie, veral heersend in die kruidenierskettingwinkels, teenoor die huidige Amerikaanse en Europese reklame promosie tegnieke wat minder toegespits is op tydelike prys verlagings en meer op die eliminasie van koste in die waardeketting. 'n Huidige Suid Afrikaanse prys promosie model word daargestel en 'n prys promosie model vir die toekoms voorgestel. Sonder 'n meer deeglike studie sal dit naief wees om te dink dat hierdie werkstuk 'n beslissende studie kan wees vir die redes vir, oorsaak en gevolge van kleinhandel prys promosies. Die bedoeling is eerder dat dit dien as 'n stimulus vir verdere narvorsing op die gebied. Hierdie mini-thesis ondersoek die prys beleid in die Suid Afrikaanse kruidenierskleinhandelmark relatief tot internasionale tendense. Veral word daar aandag gegee aan die kruidenierswaardeketting en die invloed van kleinhandel prysvermindering promosies op die verskaffingskettings binne die waardeketting. Tekortkominge in die huidige Suid Afrikaanse sisteem van prysbepaling word uitgelig uit beide 'n bemarkings en verskaffingskettings bestuur oogpunt. 'n Toekomstige waardeketting word voorgestel en die migrasie na hierdie nuwe waardeketting bespreek. Internasionale tendense soos EDLP work bespreek met betrekking tot die Suid Afrikaanse kruideniers reklamemark.

MSCAGR (Agricultural Economics) / Department of Agricultural Economics / This research aimed to assess the profitability of sweet potato production enterprises. The focus areas were on: determining differences in profitability of different sweet potato enterprises located in different villages; identifying factors that affect the profitability of sweet potato enterprises; determining differences in the sweet potato markets; and identifying marketing channels utilised by sweet potato enterprises. The study was carried out in 8 villages in Makhado and Thulamela local municipalities of the Vhembe district of Limpopo province. There were 78 sweet potato farmers identified and interviewed as respondents in the study. A gross margin analysis model was used to calculate the profitability of sweet potato enterprises, while a multiple regression model was adopted to analyse factors that affect profitability of sweet potato enterprises. The study revealed the domination of females in sweet potato production, wherein 69.2% of the respondents were females. Furthermore, the study revealed that 16.7% of the respondents were illiterate, 24% of the respondents had never received any form of agricultural training. The findings of the study revealed that sweet potato production is a viable and profitable enterprise in the study area. Farmers recorded an average gross margin of R11 329.94 per ha. Furthermore, labour cost and fertilizer cost accounted for the highest costs incurred in production contributing 45% and 32% respectively to total costs. The results of the study further revealed that six variables were statistically significant to profitability. Occupation status, farming experience, unpaid family members, and labour cost were statistically significant to profitability at the 1% level of significance; whereas tractor hire cost and chemical cost were statistically significant to profitability at the 5% level of significance. The study recommends that stakeholders involved in agriculture and community development should attend to issues such agro-processing trainings and extension services offered to the farmers in the Vhembe district.

The study investigates whether the main capital market theories and pricing models provide a reasonably accurate description of the working and efficiency of capital markets, of the pricing of shares and options and the effect the risk/return relationship has on investor behaviour. The capital market theories and pricing models included in the study are Portfolio Theory, the Efficient Market Hypothesis (EMH), the Capital Asset Pricing Model (CAPM), the Arbitrage Pricing Theory (APT), Options Theory and the BlackScholes (8-S) Option Pricing Model. The main conclusion of the study is that the main capital market theories and pricing models, as reviewed in the study, do provide a reasonably accurate description of reality, but a number of anomalies and controversial issues still need to be resolved. The main recommendation of the study is that research into these theories and models should continue unabated, while the specific recommendations in a South African context are the following: ( 1) the benefits of global diversification for South African investors should continue to be investigated; (2) the level and degree of efficiency of the JSE Securities Exchange SA (JSE) should continue to be monitored, and it should be established whether alternative theories to the EMH provide complementary or better descriptions of the efficiency of the South African market; (3) both the CAPM and the APT should continue to be tested, both individually and jointly, in order to better understand the pricing mechanism of, and risk/return relationship on the JSE; (4) much South African research still needs to be conducted on the efficiency of the relatively new options market and the application of the B-S Option Pricing Model under South African conditions. / Financial Accounting / M. Com. (Accounting)