JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140
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Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) Vol. 9 No. 1 ISSN 2220-6140 Published by International Foundation for Research and Development (IFRD) 1 Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) Editorial Journal of Econmics and Behavioral Studies (JEBS) provides distinct avenue for quality research in the ever- changing fields of economics & behavioral studies and related disciplines. Research work submitted for publication consideration should not merely limited to conceptualisation of economics and behavioral devlopments but comprise interdisciplinary and multi-facet approaches to economics and behavioral theories and practices as well as general transformations in the fileds. Scope of the JEBS includes: subjects of managerial economics, financial economics, development economics, finance, economics, financial psychology, strategic management, organizational behavior, human behavior, marketing, human resource management and behavioral finance. Author(s) should declare that work submitted to the journal is original, not under consideration for publication by another journal, and that all listed authors approve its submission to JEBS. Author (s) can submit: Research Paper, Conceptual Paper, Case Studies and Book Review. Journal received research submission related to all aspects of major themes and tracks. All submitted papers were first assessed by the editorial team for relevance and originality of the work and blindly peer reviewed by the external reviewers depending on the subject matter of the paper. After the rigorous peer-review process, the submitted papers were selected based on originality, significance, and clarity of the purpose. The current issue of JEBS comprises of papers of scholars from South Africa, Ghana, Nigeria, Zimbabwe, Australia and Oman. Employee retention factors, Nigeria’s contributions to the African Union, entrepreneurial barriers, a thematic analysis, stakeholder engagement as a core management function, South Africa’s youth unemployment dilemma, influence of brand trust, brand familiarity & brand experience on brand attachment, internal and external factors of future returns in the banking business, nexus of working capital management and firm performance, does financial development lead to poverty reduction, influence of national culture on latent entrepreneurs, behavioural ethics, a review of quality management systems, a robust application of the arbitrage pricing theory, awareness of ecological economics, perceptions on social risk, buying behaviour, effect of psychological capital on entrepreneurial intention, changing the structure of Mpumalanga economy through industrialization, technology-enhanced knowledge management, bank failure prediction model and generation Y-turnover were some of the major practices and concepts examined in these studies. Current issue will therefore be a unique offer, where scholars will be able to appreciate the latest results in their field of expertise, and to acquire additional knowledge in other relevant fields. Prof. Sisira R N Colombage, Ph. D. Editor In Chief 2 Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) Editorial Board Editor In Cheif Sisira R N Colombage, Ph. D., Monash University, Australia Members Somnath Sen, Ph. D, Birmingham University, UK Anton Miglo, Ph. D, School of business, University of Bridgeport, USA Elena Garcia Ruiz, Ph. D, Universidad de Cantabria, Spain 1. Ijaz Ur Rehman, PhD, Al Falah University, Dubai, United Arab Emirates 2. Ravinder Rena, PhD, Monarch University, Switzerland 3. Mamta B Chowdhury, Ph. D, University of Western Sydney, Australia Gurmeet Singh Bhabra, Ph. D, University of Otago, New Zealand Ghulam Mohammad Bhat, Ph. D, University of Kashmir, Srinagar, India Eric Bentzen, Copenhagen Business School, Denmark Fuhmei Wang, Ph. D, National Cheng Kung University, Taiwan Khorshed Chowdhury, Ph. D, University of Wollongong, Australia Ananda Wickramasinghe Ph. D, CQUniversity, Australia Hai-Chin YU, Ph. D, Chung Yuan University,Chungli, Taiwan R. Y. Mahore, Ph D, Nagpur University, India Mohanbhai Patel, Ph. D, N S Arts College, India Yapa M W Y Bandara, Ph. D, Charles Sturt University, Australia Alexandru Trifu, Ph. D, University, Petre Andrei, Iasi Romania Mohammad Reza Noruzi, Ph. D, Tarbiat Modarres University, Tehran, Iran Ayhan Kapusuzoglu, Ph. D, Yildirim Beyazit University, Turkey M. Saman Dassanayake, Ph. D, University of Colombo, Colombo, Sri Lanka 1. Apostu Iulian, Ph. D, University of Bucharest, Romania 3 Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) Table of Contents Description Pages Title 1 Editorial 2 Editorial Board 3 Table of Contents 4 Papers 5 Employee Retention Factors: The Case of Hotels in Cape Town, South Africa 6 Ikechukwu O. Ezeuduji, Thandokazi Lulu Mbane Re-examining Nigeria’s Contributions to the African Union and the Domestic Socio-Economic Ramifications 17 Samuel A. Umezurike, Chux Gervase Iwu, Lucky E. Asuelime, Chinelo Augustine Umezurike Entrepreneurial Barriers that are Confronted by Entrepreneurs Living with Physical Disabilities: A Thematic Analysis 27 Eugine Tafadzwa Maziriri, Welcome Madinga, Thobekani Lose Stakeholder Engagement as a Core Management Function: Analysing the Business Value of Stakeholder Engagement for Nigerian Business Organizations 46 Christopher Isike, Alice Ajeh South Africa’s Youth Unemployment Dilemma: Whose Baby is it anyway? 56 Natanya Meyer The Influence of Brand Trust, Brand Familiarity and Brand Experience on Brand Attachment: A Case of Consumers in the Gauteng Province of South Africa 69 Chinomona E, Maziriri ET Internal and External Factors of Future Returns in the Banking Business: Time Series Analysis of Interrelationship 82 Kwabena A. Kyei, Albert Antwi Nexus of Working Capital Management and Firm Performance in Nigerian Food and Beverages Industries: A Link with Risk-Return Theory 90 Odunayo Magret Olarewaju, Mishelle Doorasamy, Titilayo Moromoke Oladejo Does Financial Development Lead to Poverty Reduction in China? Time Series Evidence 99 Sin-Yu Ho, Bernard Njindan Iyke The influence of Ghana's national culture on latent entrepreneurs: An application of Social Rule System Theory 113 Martin Owusu Ansah, Richard Chinomona Behavioural Ethics among Nurses in Midwife Obstetric Units: Patients and their Perceptions in Cape Town, South Africa 127 Ikechukwu O. Ezeuduji, Vuyokazi Mdivasi A Review of Quality Management Systems in South African HIV-AIDS Programmes: A Pre-Requisite for Sustainable Health Delivery 135 Shayhana Ganesh, Renitha Rampersad, Nirmala Dorasamy A Robust Application of the Arbitrage Pricing Theory: Evidence from Nigeria 141 Oyetayo, Oluwatosin J., Adeyeye, Patrick Olufemi Awareness of Ecological Economics as a Model for Promoting Sustainable Construction 152 Ayodeji Oke, Clinton Aigbavboa & Mpho Ndou A Regression Analysis of Generation Y Female Students’ Perceptions on Social Risk, Buying Behaviour and Apparel Store Choice 157 Bakae Aubrey Mokoena, Eugine Tafadzwa Maziriri A Hierarchical Multiple Regression Approach on Determining the Effect of Psychological Capital on Entrepreneurial Intention amongst Prospective University Graduates in South Africa 166 Clifford Kendrick Hlatywayo, Chioneso Show Marange, Willie Tafadzwa Chinyamurindi Mechanisms for Changing the Structure of Mpumalanga Economy through Industrialization 179 Nkosinathi Senzo Nkonyane, Pfano Mashau Technology-Enhanced Knowledge Management Framework for Retaining Research Knowledge among University Academics 189 Patient Rambe, Mpho Agnes Mbeo A Bank Failure Prediction Model for Zimbabwe: A Corporate Governance Perspective 207 TinevimboSantu Chokuda, Njabulo Nkomazana, Wilford Mawanza Generation Y-Turnover: A Complementary Fit Perspective 217 Abdelbaset Queiri, Araby Madbouly 4 Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) PAPERS 5 Journal of Economics and Behavioral Studies (JEBS) Vol. 9, No. 1, February 2017 (ISSN 2220-6140) Employee Retention Factors: The Case of Hotels in Cape Town, South Africa Ikechukwu O. Ezeuduji*, Thandokazi Lulu Mbane University of Zululand, South Africa Cape Peninsula University of Technology, South Africa [email protected]*, [email protected] Abstract: High turnover of employees in the hotel sector has been widely reported in academic papers. This high turnover has associated costs, such as financial costs, inconsistency in delivering service quality, and probable loss of customer loyalty. This empirical study investigates hotel employees’ responses to statements that relate to work conditions that support employee retention. Selected three, four and five star hotels in Cape Town, South Africa participated in this study. A structured respondent-completed questionnaire was used to collect data that were subjected to descriptive, bivariate and multivariate analyses. Result highlights suggest that hotel employees, dominated by the female population, are mostly not so desperate to leave their employment soon, however not many of them have worked in the hotel for more than five years. There are positive inter-correlations among ‘employee retention’ factor and other factors that relate to work conditions that support employee retention (compensation, employee development, work engagement, work relations, and working hours). Results also show that ‘strict supervision’, ‘long working hours’ and