The modelling of volatility has long been seminal to finance and risk management in general, as it provides information on the spread of portfolio returns. In order to reduce the overall volatility of a stock portfolio, modern portfolio theory (MPT), within an efficient market hypothesis (EMH) framework, dictates that a well-diversified portfolio should have a market beta of one (thereafter adjusted for risk preference), and thus move in sync with a benchmark market portfolio. Such a stock portfolio is highly correlated with the market, and considered to be entirely hedged against unsystematic risk. However, the risks within and between stocks present in a portfolio still impact on each other. In particular, risk present in a particular stock may spill over and affect the risk profile of another stock included within a portfolio - a phenomenon known as volatility spill-over effects. In developing economies such as South Africa, portfolio managers are limited in their choices of stocks. This increases the difficulty of fully diversifying a stock portfolio given the volatility spill-over effects that may be present between stocks listed on the same exchange. In addition, stock portfolios are not static, and therefore require constant rebalancing according to the mandate of the managing fund. The process of constant rebalancing of a stock portfolio (for instance, to follow the market) becomes more complex and difficult during times of financial distress. Considering all these conditions, portfolio managers need all the relevant information (more than MPT would provide) available to them in order to select and rebalance a portfolio of stocks that are as mean-variance efficient as possible. This study provides an additional measure to market beta in order to construct a more efficient portfolio. The additional measure analyse the volatility spill-over effects between stocks within the same portfolio. Using intraday stock returns and a residual based test (aggregate shock [AS] model), volatility spill-over effects are estimated between stocks. It is shown that when a particular stock attracts fewer spill-over effects from the other stocks in the portfolio, the overall portfolio volatility would decrease as well. In most cases market beta showcased similar results; this change is however not linear in the case of market beta. Therefore, in order to construct a more efficient portfolio, one requires both a portfolio that has a unit correlation with the market, but also includes stocks with the least amount of volatility spill-over effects among each other. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2013

The modelling of volatility has long been seminal to finance and risk management in general, as it provides information on the spread of portfolio returns. In order to reduce the overall volatility of a stock portfolio, modern portfolio theory (MPT), within an efficient market hypothesis (EMH) framework, dictates that a well-diversified portfolio should have a market beta of one (thereafter adjusted for risk preference), and thus move in sync with a benchmark market portfolio. Such a stock portfolio is highly correlated with the market, and considered to be entirely hedged against unsystematic risk. However, the risks within and between stocks present in a portfolio still impact on each other. In particular, risk present in a particular stock may spill over and affect the risk profile of another stock included within a portfolio - a phenomenon known as volatility spill-over effects. In developing economies such as South Africa, portfolio managers are limited in their choices of stocks. This increases the difficulty of fully diversifying a stock portfolio given the volatility spill-over effects that may be present between stocks listed on the same exchange. In addition, stock portfolios are not static, and therefore require constant rebalancing according to the mandate of the managing fund. The process of constant rebalancing of a stock portfolio (for instance, to follow the market) becomes more complex and difficult during times of financial distress. Considering all these conditions, portfolio managers need all the relevant information (more than MPT would provide) available to them in order to select and rebalance a portfolio of stocks that are as mean-variance efficient as possible. This study provides an additional measure to market beta in order to construct a more efficient portfolio. The additional measure analyse the volatility spill-over effects between stocks within the same portfolio. Using intraday stock returns and a residual based test (aggregate shock [AS] model), volatility spill-over effects are estimated between stocks. It is shown that when a particular stock attracts fewer spill-over effects from the other stocks in the portfolio, the overall portfolio volatility would decrease as well. In most cases market beta showcased similar results; this change is however not linear in the case of market beta. Therefore, in order to construct a more efficient portfolio, one requires both a portfolio that has a unit correlation with the market, but also includes stocks with the least amount of volatility spill-over effects among each other. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2013

Rapid population growth and urbanisation has resulted in a drastic increase in the volume of waste produced by the World populace. The resulting pressure on the country’s somewhat underdeveloped waste management infrastructure emphasizes the need for waste management solutions which balance environmental protection with economic sustainability. Waste is seen as an unwanted or surplus by-product, emission or residue of any process or activity which has been discarded, accumulated or stored for the purpose of discarding or future processing. Hazardous waste is waste that may, by circumstance of use, quantity, concentration or inherent physical, chemical or infectious characteristics, cause ill-health or an increased mortality rate in humans, fauna and/or flora. General waste on the other hand, is waste that does not pose an immediate threat to human health or the environment. Currently household waste is considered general waste even though it may contain hazardous components such as fluorescent tubes and/or other household chemicals. Promulgation of NEM: WA (no 59 of 2008) provides instruments for the implementation of the steps taken by the Department of Environmental Affairs to improve waste management in South Africa. Successful implementation and enforcement of the act will place the country at the forefront of progressive international standards in waste management. One of South Africa’s largest environmental and waste management challenges remains the presence of historical, hazardous waste landfill sites. Characterisation of the dangers that these sites pose to the environment is providing extremely difficult and expensive, as is the ongoing maintenance and management of these facilities – placing economic strain on national municipalities. This study was done in two phases. The first related to the hazardous waste components of household waste that is being dumped at landfill site and the methods of classification, handling and dumping of hazardous waste have been investigated. All the legislation was taken into consideration to see if the landfill sites comply with the latest legislation. The second phase was a comparison between three landfill sites. The management, work activities and general appearance of the sites have been compared internally. Then a comparison have been done between the following landfill sites Kwaggasrand landfill site in Tshwane, Weltevreden landfill site in Brakpan and an ideal landfill site developed in accordance with the Minimum Requirements documents published by of DEAT in 1998. / Thesis (M.Sc. (Geography and Environmental Studies))--North-West University, Potchefstroom Campus, 2011.

Rapid population growth and urbanisation has resulted in a drastic increase in the volume of waste produced by the World populace. The resulting pressure on the country’s somewhat underdeveloped waste management infrastructure emphasizes the need for waste management solutions which balance environmental protection with economic sustainability. Waste is seen as an unwanted or surplus by-product, emission or residue of any process or activity which has been discarded, accumulated or stored for the purpose of discarding or future processing. Hazardous waste is waste that may, by circumstance of use, quantity, concentration or inherent physical, chemical or infectious characteristics, cause ill-health or an increased mortality rate in humans, fauna and/or flora. General waste on the other hand, is waste that does not pose an immediate threat to human health or the environment. Currently household waste is considered general waste even though it may contain hazardous components such as fluorescent tubes and/or other household chemicals. Promulgation of NEM: WA (no 59 of 2008) provides instruments for the implementation of the steps taken by the Department of Environmental Affairs to improve waste management in South Africa. Successful implementation and enforcement of the act will place the country at the forefront of progressive international standards in waste management. One of South Africa’s largest environmental and waste management challenges remains the presence of historical, hazardous waste landfill sites. Characterisation of the dangers that these sites pose to the environment is providing extremely difficult and expensive, as is the ongoing maintenance and management of these facilities – placing economic strain on national municipalities. This study was done in two phases. The first related to the hazardous waste components of household waste that is being dumped at landfill site and the methods of classification, handling and dumping of hazardous waste have been investigated. All the legislation was taken into consideration to see if the landfill sites comply with the latest legislation. The second phase was a comparison between three landfill sites. The management, work activities and general appearance of the sites have been compared internally. Then a comparison have been done between the following landfill sites Kwaggasrand landfill site in Tshwane, Weltevreden landfill site in Brakpan and an ideal landfill site developed in accordance with the Minimum Requirements documents published by of DEAT in 1998. / Thesis (M.Sc. (Geography and Environmental Studies))--North-West University, Potchefstroom Campus, 2011.