https://ir.unisa.ac.za/handle/10500/25229 Tue, 12 May 2026 16:53:48 GMT 2026-05-12T16:53:48Z https://ir.unisa.ac.za/handle/10500/32370 The assessment of financial risks of Open Distance e-Learning (ODeL) universities : empirical evidence from the University of South Africa Nkosi, Joyce Background In South Africa, universities encounter a diverse range of financial risks that can affect their stability and long-term sustainability. These risks stem from internal factors, such as operational inefficiencies, and external factors, including economic fluctuations and policy developments. Effective identification and management of these risks is vital for ensuring the continued success of higher education institutions. Problem statement Despite the growing importance of financial risk management in higher education, there is limited understanding of how open-distance e-learning (ODeL) institutions, such as the University of South Africa (Unisa), experience and address these risks. In particular, there is a lack of clarity regarding the types of financial risks these institutions face and the extent to which their staff are equipped to manage them. Objectives The current study aimed to identify the types of financial risks faced by an open-distance e-learning university. It also aimed to assess the risk mitigation techniques currently employed. Finally, the study aimed to determine the training needs of staff responsible for managing financial risk. Methodology Using the University of South Africa (Unisa) as a case study, a quantitative research design using exploratory factor analysis Cross-sectional data were collected using a self-administered questionnaire distributed to 140 respondents within Unisa. The cross-sectional data provided insights into risk exposure and management practices. Results The results show that the Unisa is mostly exposed to credit and operational risks. Exposure to liquidity and market risks was observed to be low. Furthermore, the results show that there is a notable gap in staff training in risk management interventions in areas such as credit and operational risk management. Staff also demonstrated limited understanding of liquidity and market risk, indicating a broader issue in risk awareness and preparedness. Conclusion The study concludes that the concept of financial risk management in ODeL institutions is still in its infancy. Notably, liquidity and market risk are still unclear to staff in the department responsible for financial risk management, posing a threat to effective financial governance. Policy implications The study recommends the implementation of robust internal control systems, regular auditing and investing in reliable technological infrastructure to manage financial risks more effectively. Additionally, it suggests appointing a dedicated risk officer and developing a comprehensive financial risk management guide to inform institutional decision-making and improve risk response strategies.; Lingemuva ENingizimu Afrika, emanyuvesi ahlangabetana nebungoti betetimali lobehlukahlukene lobungatsintsa kusimama kwawo kanye nekugcinwa kwawo kwesikhatsi lesidze. Lobungoti buvela etintfweni tangekhatsi, letifana nekungasebenti kahle kwekusebenta, kanye netintfo tangephandle, letifaka ekhatsi kugucugucuka kwemnotfo kanye nekutfutfukiswa kwenchubomgomo. Kukhonjwa nekulawulwa kwalobungoti ngemphumelelo kubaluleke kakhulu ekucinisekiseni kutsi tikhungo temfundvo lephakeme tiyachubeka nekuphumelela. Sitatimende senkinga Nanobe kubaluleka lokukhulako kwekulawula bungoti betetimali emfundvweni lephakeme, kunekuvisisa lokunemkhawulo kwekutsi tikhungo tekufundzela usekudzeni kanye nekufundzela nge-inthanethi (i-ODeL) letivulekile, njenge Nyuvesi yaseNingizimu Afrika (i-Unisa), tihlangabetana njani nalobungoti futsi tilungisa njani. Ikakhulukati, kunekungacaci mayelana netinhlobo tebungoti betetimali letikhungo letibukene nato kanye nekutsi tisebenti tato tihlomele kangakanani kutilawula. Tinhloso Lolucwaningo lwanyalo luhlose kutfola tinhlobo tebungoti betetimali letibukene nenyuvesi ye-ODeL. Kwaphindze futsi kwahloswa kuhlola tindlela tekunciphisa bungoti letisetjentiswako nyalo. Ekugcineni, lolucwaningo beluhlose kutfola tidzingo tekuceceshwa kwetisebenti letinesibopho sekulawula bungoti betimali. Indlela yekusebenta Kusetjentiswa i-Unisa njengesifundvo sendzaba, kwamukelwa umklamo welucwaningo lwesilinganiso losebentisa kuhlatiya emaphuzu ekuhlola. Idatha yetigaba letihlangene yabutfwa kusetjentiswa liphepha lemibuto leliphatfwako lelasakatwa kulabaphendvulile labangu-140 ngaphakatsi e-Unisa. Idatha yetigaba letihlangene inikete lwati ngekuchayeka ebungotini kanye netindlela tekulawula. Imiphumela Imiphumela ikhombisa kutsi i-Unisa ichayeke kakhulu ebungotini besikweleti kanye nekusebenta. Kuchayeka ebungoti bemali kanye nemakethe kwabonakala kuphansi. Ngetulu kwaloko, imiphumela ikhombisa kutsi kunesikhala lesibonakalako ekuceceshweni kwetisebenti ekungeneleleni kwekulawula bungoti etindzaweni letifana nekulawula bungoti besikweleti kanye nekusebenta. Tisebenti tiphindze futsi takhombisa kuvisisa lokunemkhawulo kwekukhishwa kwemali kanye nebungoti bemakethe, lokukhombisa ludzaba lolubanti ekucapheleni bungoti kanye nekulungela. Siphetfo Lolucwaningo luphetsa ngekutsi umcondvo wekulawula bungoti betetimali etikhungweni te-ODeL solo awukatfutfukiswa. Kuyaphawuleka kutsi, kukhishwa kwemali kanye nebungoti bemakethe solo akukacaci kubasebenti belitiko lelibukene nekulawula bungoti betetimali, lokubeka lusongo ekuphatfweni kwetimali lokuphumelelako. Imiphumela yenchubomgomo Lolucwaningo luncoma kucala kusebenta kwetinhlelo tekulawula tangekhatsi leticinile, kucwaninga njalo kanye nekutjala imali kusakhiwonchanti setebucwepheshe lesetsembekile kute kulawulwe bungoti betetimali ngemphumelelo. Ngetulu kwaloko, kuphakamisa kukhetsa sikhulu lesitinikele sebungoti kanye nekutfutfukiswa kwemhlahlandlela lophelele wekulawula bungoti betetimali kute kwatiswe kwenta tincumo tesikhungo kanye nekutfutfukisa emasu ekubukana nebungoti.; Matsalwa yale ndzaku/Matimu Etikweni ra Afrika Dzonga tiyunivhesiti ti hlangana na makhombo yo hambana hambana eka swa timali leswi swinga ha vaka na nxungweto ekamatirhelo na vumundzuku bya tona.. Makhombo lawa yangaha suka eka mintlimbo yale ndzeni, leyi fana ka na mafambiselo, na mintlimbo yale handle,ku katsa na ku tsekatseka ka ikhonomi hambi kuri ku tumbuluxiwa ka milawu ya mafambiselo.Ku longoloxiwa hivurhonwana ka makhombo lawa naku ya lawula swinga pfuna ku endla leswaku swiyenge swa tidzondzo tale hehla swi humelala eka migingiriko ya swona. Nhlamuselo ya xiphiqo Hambi leswi ku nga na ku ndlandlamuka ka xilaveko xaku lawuka makhombo ya swatimali eka xiyenge xa tidzondzo tale henhla, kahari na ku kayivela ka ntwisiso wa ndlela leyi ti Yunivhesisi leti nyikaka vukorhokeri bya dyondzo yale kule na thekinoloji tani hi Yunivhesiti ya Afrika Dzonga ti hlanganaka na makhombo no thlela ti ringeta kuya lulamisa. Hiku kongoma , ka hari na ku kayivela mayela na tinxakanxaka ta makhombo ya swatimali lawa swiyenge leswi swi langutaneke na wona na ndlela leyi vatirhi eka swiyenge leswi va faneleke ku leteriwa hi tindlela taku lwisana na makhombo lawa. Swikongomelo Vulavisisi lebya haku endliwaka abyi ngongoma eka ku ku fikelela ku kumisisa tinxaka ta makhombo lawa ya langutana na tiyunivhesiti leti nyikaka vukorhokeri bya dyondzo yale kule na thekinoloji. Byi thlela byi xopaxopa tindlela leti tirhisiwaka eka nkarhi wa sweswi ku papalata makhombo lawa.Xo hetelela vulavisisi abyi lava ku kumisisa leswaku hi byihi vuleteri leswi vatirhi lava tirhanaka na ku lawula makhombo ya swa timali vabyi lavaka . Maendlelo ya vulavisisi Ku tirhisiwe ndzavisiso wa Yunivhesiti ya Afrika Dzonga bya maendlelo ya ku tirhisa ndzavisiso wa tinhlayonhlayo . Vuxokoxoko byi kumiwe hiku tirhisa mpfampfarhuto wa swivutiso lowu tumbuluxiweke hi mulavisisi ,lowu nga nyikiwa eka vanhu va dzana na makume mune ku suka e UNISA Vuxokoxoko lebyi kumiweke ku suka eka swivutiso abyi paluxa hi makhombo na malawulelo ya wona ku suka eka lava tekeke xiave eka vulavisisi. Mbuyelo Mbuyelo wu komba leswaku UNISA yi langutane na makhombo ya mali leyi nga kona na swona makhombo ya xibundzu la langutela yari enhansi swinene.Hi hala thlelo kuna vangwa kumbe ku kayivela ekaku leteriwa ka vatirhi eka xiyenge xa malawuleyo ya swikweleti na makhombo ya mafambiselo.s. Vatirhi va kombise kuva na nkayivelo lowu kulu wa vutivi eka xiyenge xa makhombo eka swa timali, nankayivelo wa vutivi eka swa makhomboya mabindzu, leswi swinga na nxungweto lowu kulu eka vutivi bya makhombo hiku angarhela hambi kuri ku lulamela ka vona kuya emahweni. Mahetelelo Vulavisisi lebyi byi komba leswaku kahari na nkayivelo eka xiyenge xa mafambiselo ya makhombo ya swa timali eka xiyenge xa swa tidzondzo leti nyikaka dyondzo yale kule na thekinoloji. Swahari tano,mhaka ya mafambiselo ya swikweleti na bindzu kahariki nthlonthlo eka vatirhi eka dzawulo leyi lawula mafambiselo ya makhombo ya swa timali , leswi tisaka nxungweto eka mafambiselo lama nene ya swa timali. Switandzaku swa milawu ya mafamiselo Vulavisisi byi bumabumela kuva ku tirhisiwa ndlela leyi tiyeke ya malawaulelo eka ndzwawulo,swikambelo swa nkarhi na nkarhi ,na kuva ku vuvekisiwa eka switirhisiwa swa nkoka swa xitekinoji, kuri ndlela yo ringela ku lawula makhombo ya swa timal. Nthlandla kambirhi,vulavisisi byi thlela byi bumabumela ku thoriwa ka mutirhi loyi angata langutana na makhombo ya swa timali no thlela a mpfampfarhuta no tumbuluxa tsalwa leri ngata tsundzuxa ndzawulo hi swiboho leswi ngaha tekiwaka ku antswisa mandlelo yo lwisana na makhombo lawa yanga vaka kona. Abstract in English, SiSwati and Xitsonga Sat, 01 Mar 2025 00:00:00 GMT https://ir.unisa.ac.za/handle/10500/32370 2025-03-01T00:00:00Z https://ir.unisa.ac.za/handle/10500/32144 The nexus between enterprise risk management and risk-adjusted bank performance: evidence from South Africa Chibvongodze, Rueben Risk-adjusted bank performance provides an objective performance measurement framework by adjusting profits for risk, unlike historical and arbitrary accounting performance measures, which do not account for risk. While substantial empirical evidence exists on the impact of enterprise risk management (ERM) on bank performance, few studies, if any, have focused on the nexus between ERM and risk-adjusted bank performance using robust measures. The computation of risk-adjusted bank performance measures remains an area in need of new knowledge development and further empirical exploration. The purpose of the study was to determine the nexus and impact of ERM on risk-adjusted bank performance in South Africa. The study examined the effect of ERM sophistication (ERMS) from both a general bank performance and risk-adjusted bank performance perspective. It also investigated the impact of the ERM Index (ERMI) from both a bank performance and risk-adjustment perspective. ERMS was used to gauge the level of advancement of a bank’s ERM capabilities and their impact on bank value creation and sustainability. The study sample consisted of 10 South African banks over a 21-year period (2002–2022). Panel data, covering both the global financial crisis (GFC) of 2007 to 2009 and the Covid-19 period of 2020 to 2022, were used for the study. Secondary data were sourced from published audited financial statements. Panel data multiple regression analysis was used to test statistical relationships. Dependent variables included return on assets (ROA), return on equity (ROE), Tobin’s Q, risk-adjusted return on capital (RAROC) and the modified z-score (M_ZScore). Independent variables included financial slack, interest rates, inflation, gross domestic product (GDP) and foreign exchange rate. Using Hausman’s (1978) test, a fixed effects model (FEM) rather than a random effects model (REM) was selected for the study. The study proposed a risk-adjusted ERMI that combines qualitative bank-based ERM themes and quantitative bank-focused indicators from the CAMELS bank performance measurement framework. Capital adequacy ratio (CAR), RAROC and M_ZScore variables were used to evaluate ERM from a bank risk-adjusted performance perspective. The empirical results show that the risk-focused performance measures, RAROC and M_ZScore, are positively associated with improved risk-adjusted bank performance. The accounting performance measure, ROA, and the financial market measure, Tobin’s Q, were also found to be positively associated with improved bank performance. However, an inverse relationship was found between another performance measure, ROE, and bank performance, indicating that empirical outcomes depend on the specific measure used. The study makes several contributions. Unlike traditional studies that focus on ROA and ROE, this study strengthens the theoretical link between ERM and risk-adjusted performance measures, reinforcing the concept of risk-return trade-off in banking. Empirically, the study contributes to literature and research by developing and empirically testing ERMI, thereby providing a structured approach to measuring ERMS using both qualitative and quantitative data instead of binary ERM indicators. Methodologically, the study goes beyond the traditional approaches of assessing bank performance through measures such as RAROC and M_ZScore to account for banking risk in performance evaluation. The empirical outcomes offer valuable new insights for prudential regulatory authorities and banking executives, including chief risk officers (CROs), to strengthen both national and global financial systems and to enhance stability and certainty in financial markets. Abstract and text in English Sun, 01 Dec 2024 00:00:00 GMT https://ir.unisa.ac.za/handle/10500/32144 2024-12-01T00:00:00Z https://ir.unisa.ac.za/handle/10500/32025 Chief Executive Officer (CEO) power, board independence and bank risk in Uganda Kajumbula, Richard The study's main aim was to establish the moderating role of board independence in the relationship between CEO power and bank risk. Although risk management has dominated bank management literature and discourse, policy and practice, previous studies on how CEO power affects risk-taking have produced mixed results. Some studies show that CEO power reduces risk, while others indicate that it increases the risk. This lack of conclusive findings is due to the failure to include moderator variables such as board independence that influence that relationship. Failure to include the role of board independence in regulating the extent to which CEO power affects bank risk in the annual reports of commercial banks and the absence of the same in policy documents could also be responsible for bank failures in Uganda over the last 15 years. This study was therefore conducted with four objectives: examining the relationship between CEO power and bank risk, assessing the moderating effect of board independence on the relationship between CEO power and bank risk, analysing the cointegrating relationship between CEO power and bank risk and analysing the causality relationship between CEO power and bank risk. This explanatory panel research used secondary data from a sample of 14 commercial banks in Uganda from 2010 to 2020. The study used secondary data collected through extraction from reports and documents. System General Method of Moments (GMM) was used to establish the relationship between variables and to test the moderating effect of board independence on the relationship between CEO power and bank risk. Diagnostic tests were also carried out to check the suitability of the GMM estimator. Autoregressive Distributed Lag (ARDL) approach was used to infer causality and to analyse the short and long-run linkages between CEO power and bank risk or cointegration. The speed of adjustment of the model in the long run was established using the Error Correction Term (ECT). The findings revealed an inverse relationship between CEO power and bank risk. Commercial banks that have powerful CEOs seemingly have lower risk. Such powerful CEOs have prestige power, are internally hired, have ownership, and have served for more years; hence, they possess expert power. The relationship between current and previous bank risk is positive and significant, confirming a long-run positive relationship between previous and current bank risk. The moderating effect of board independence in iii the relationship between CEO power and bank risk is significant for prestige power and the CEO being internally hired. This means that commercial banks in Uganda should appoint CEOs with outside connections and serve for more years since experienced CEOs reduce bank risk in Uganda. Furthermore, the relationship between their power and bank risk is positively affected by board independence. The findings all confirmed cointegration between CEO power and Z-score in the panel dataset, and that if the model is destabilised and moves away from equilibrium or has short-run disequilibrium, it will correct its previous period’s disequilibrium at a speed of approximately 2.58% annually to get back to the steady state. Lastly, it was determined that there is a causal relationship between CEO power and bank risk. In case there is a need to reduce bank risk in Uganda, adjusting CEO power will help to attain this. It is thus recommended that commercial banks’ annual reports should include the extent to which board independence affected the relationship between CEO power and bank risk. Banks should also encourage CEOs to stay in office for more than four years, to a maximum of seven years. CEOs and bank staff must find new products that will attract people in the informal sector, speed up the readjustment of operations to equilibrium, and reduce risk. CEOs, bank managers, employees and policymakers should not expect immediate results regarding expected changes in bank risk. The results of actions taken in the current year to improve a bank's risk profile can only be seen in the following year. Therefore, there is a need for persistent adjustment and observation of decisions and policy actions if bank risk is to be minimised. Thu, 07 Dec 2023 00:00:00 GMT https://ir.unisa.ac.za/handle/10500/32025 2023-12-07T00:00:00Z https://ir.unisa.ac.za/handle/10500/31837 Access to finance as a challenge for Burgersfort small and medium-sized enterprises in tourism Ngoma, Moreblessing R. The objective of the study was to assess financial access as a challenge to SMEs in tourism and in rural areas. The focus was on the relationships between financial access and its determinants, such as, information asymmetry, perceived risk, company size, performance and service quality. The research also looked at these determinants from a government support side. The theoretical framework was on government support and rural tourism development, with the focus on theories of motivation in developing rural tourism. These theories explained the development of destinations in quest of what the tourists expect or are to expect from a destination. The research employed a mixed methodology in data collection, analysis and presentation. The study findings show that a positive relationship exists between the variable, service quality, and access to finance as validated by the Pearson Correlation Test. The Regression Model showed that there was a relationship between accesses to finance, size of the business and service quality (using quality of financial statements as a measure for service quality), however, the study did not statistically substantiate the relationship. Further, the study findings failed to prove the direction of the relationship in existence between the variables of perceived risk and access to finance.; Maikemišetšo a nyakišišo ye e be e le go sekaseka phihlelelo ya ditšhelete bjalo ka tlhohlo go dikgwebo tše nnyane le tša magareng (diSME) go tša boeti gape ka dinagamagaeng. Nepo ya nyakišišo e be e le go kamano gare ga phihlelelo ya ditšhelete le dilo tšeo di e laolago, go swana le go se lekalekane ga tshedimošo, kotsi ye e lemogwago, bogolo bja khamphani, boleng bja mošomo le bja tirelo. Gape nyakišišo e sekasekile dilo tše di laolago go tšwa lehlakoreng la thekgo ya mmušo. Foreimiweke ya teori e be e theilwe godimo ga thekgo ya mmušo le tlhabollo ya boeti bja dinagamagaeng, ka nepo go diteori tša tlhohleletšo go hlabolla boeti bja dinagamagaeng. Diteori tše di hlalositše tlhabollo ya mafelo ao a etelwago go arabela seo baeng ba se lebeletšego goba ba swanetšego go se letela go tšwa mafelong ao ba a etelago. Mekgwa ye hlakantšwego e šomišitšwe go kgoboketša datha, tshekatsheko le tlhagišo. Dikutullo tša nyakišišo di laetša gore kamano ye botse e gona gare ga phetogo, boleng bja tirelo, le phihlelelo ya tšhelete, bjalo ka ge e tiišeditšwe ke teko ya tswalano ya Pearson. Mmotlolo wa khuduego o bontšhitše gore go na le kamano gare ga phihlelelo ya tšhelete, bogolo bja kgwebo le boleng bja tirelo (ka go šomiša boleng bja dipego tša tšhelete bjalo ka tekanyo ya boleng bja tirelo). Le ge go le bjalo, nyakišišo ye ga se ya tiišetša tswalano yeo ka dipalopalo. Go feta fao, dikutullo tša nyakišišo di paletšwe ke go hlatsela tsela ya kamano gare ga diphetogo tša kotsi ye e lemogwago le phihlelelo ya ditšhelete.; Die doel van hierdie studie was om finansiële toegang as ’n uitdaging vir klein en medium ondernemings (KMO’s) in toerisme en in landelike gebiede te assesseer. Die studie het op die verhouding tussen finansiële toegang en die determinante daarvan soos inligtingsongelykheid, waargenome risiko, ondernemingsgrootte, prestasie en diensgehalte gefokus. Die studie het ook hierdie determinante vanuit die perspektief van staatsondersteuning ondersoek. Die teoretiese raamwerk was op staatsondersteuning en landelike toerisme-ontwikkeling gebaseer met ’n fokus op motiveringsteorieë in die ontwikkeling van landelike toerisme. Hierdie teorieë het die ontwikkeling van bestemmings in reaksie op wat toeriste van bestemmings verwag of kan verwag, verduidelik. ’n Gemengde metodologie is gebruik vir die insameling van data en die ontleding en aanbieding daarvan. Die bevindinge van die studie het aangetoon dat daar ’n positiewe verhouding tussen die diensgehalte-veranderlike en toegang tot finansiering bestaan, soos deur die Pearson-korrelasietoets gestaaf. Die regressiemodel het aangedui dat daar ’n verhouding tussen toegang tot finansies, ondernemingsgrootte en diensgehalte (deur die gehalte van finansiële state as ’n maatstaf van diensgehalte te gebruik) is. Die studie het egter nie die verhouding statisties gestaaf nie. Voorts het die studieresultate ook in gebreke gebly om die rigting van die verhouding tussen die veranderlikes van waargenome risiko en toegang tot finansiering te bewys. Abstracts in English, Northern Sotho and Afrikaans Wed, 20 Dec 2023 00:00:00 GMT https://ir.unisa.ac.za/handle/10500/31837 2023-12-20T00:00:00Z