Mabutho Sibanda

Mabutho Sibanda
University of KwaZulu-Natal | ukzn · School of Accounting, Economics and Finance

PhD

About

42
Publications
27,944
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139
Citations
Citations since 2017
28 Research Items
131 Citations
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2017201820192020202120222023010203040

Publications

Publications (42)
Article
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Orientation: This study examined the main predictors of net foreign portfolio investment volatility in low-income Southern African Development Community (SADC) countries. Based on the World Bank data (July 2014), the selected countries are Zimbabwe, Zambia, Malawi, Lesotho, Madagascar, Mozambique, DRC, Swaziland and Tanzania. Research purpose: The...
Article
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This study surveyed 1582 students studying Accounting degrees at universities in South Africa to assess their financial capability levels and intra-component drivers of financial capability. The study utilised statistical methods such as structural equation modelling technique was used to determine drivers of financial capability; regression analys...
Article
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Understanding the volatility behaviour of specific sectors of the economy enables investors to formulate workable investment strategies, and policy-makers to formulate policies that dampen excess volatility. This study examined the volatility features of the infrastructure sector in emerging markets. The features assessed were the GARCH effects, vo...
Article
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This study investigated the directional linkages among net foreign portfolio investment volatility, financial deepening and capital market performance in low-income Southern African Development Community (SADC) countries employing a dynamic panel vector error correction model (P-VECM) on unbalanced quarterly panel data for the period spanning from...
Article
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This study seeks to establish the relationship between carbon emissions, agricultural output and industrial output in South Africa. It uses data from 1960 to 2017 based on an annual frequency, giving a total of 58 annual observations. The Autoregressive Distributed Lag technique is employed to estimate the model on a bivariate basis. The evidence s...
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This study evaluated the relationship between inflation and infrastructure sector stock returns in emerging markets in the long and short run. It employed a panel autoregressive distributed lag (PARDL) model applying the mean group (MG), pooled mean group (PMG) and dynamic fixed effects (DFE) estimators after preliminary cross-sectional dependence...
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This study seeks to establish the relationship between agriculture, industrial output and financial sector development in South Africa. It uses the Autoregressive Distributed Lag, Error Correction models and Granger causality techniques to test for long- and short-run relationships. The evidence from the models indicates the presence of a longrun r...
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Background: Global concerns about financial literacy have heightened following the 2007–2008 global financial crisis during which it became apparent that lack of financial literacy was one of the factors that contributed to detrimental financial decision making. This recognition shows that poor financial decisions have a harmful overspill impact on...
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This study uses the Autoregressive Distributed Lag model to examine the relationship between foreign direct investment (FDI), foreign portfolio investment (FPI), per capita GDP, and per capita carbon emissions in South Africa. It finds evidence of a positive relationship between carbon emissions and the investment flows of both FPI and FDI as well...
Article
Dividend payout policy of banks has been the commonest dividend policy in commercial banks world-wide owing to the assumption that it will minimise agency costs in the banks. Hence, this study adopts the dynamic panel two-step system and differenced GMM in analysing the data of 250 commercial banks from 30 countries in Sub-Saharan Africa (SSA) for...
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Whilst the classical theoretical models in finance suggest that firm risk considerations are irrelevant to firm value, previous studies have found that the implementation of the Enterprise Risks Management (ERM) improves operational efficiency, capital structure and capital allocation decisions which ultimately improves firm value. This article exa...
Presentation
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Factors that drives the implementation of ERM for JSE-Listed Mining Companies.
Article
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The study of risk management can be traced back to the early 1950's when Modigliani and Miller (1958) argued that firm risk considerations are irrelevant to the firm of value. As new sets of risk management tools began to emerge, several studies and examined their effectiveness. In 2004, the Committee of Sponsoring Organizations of the Treadway Com...
Presentation
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Employs GMM to investigate the effect of ERM on Firm Value for JSE-Listed Mining Companies. Results were also by PGM, MG and DFE.
Article
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The study builds on previous studies of the consequences of non-performing loans on an economy. Using a seven-by-seven matrix in the impulse response function (IRF) of the structural autoregressive model, we find a long-run impact of an impulse to non-performing loans on the banking system and the macroeconomy in Nigeria. Conversely, non-performing...
Article
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The process of risk management is constantly shifting towards a more holistic and comprehensive approach, the Enterprise Risk Management (ERM) system, which is arguably more efficient than the conventional approach, the Traditional Risks Management (TRM) system. While there have been attempts to evaluate the effects of ERM on a firm‘s performance a...
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Dividend policy remains one of the top ten unresolved issues in corporate finance including in the banking sector. Hence, this study explores data from 250 commercial banks in 30 Sub-Saharan African countries to establish the causal relationship between the use of two major dividend policies in the sector and financial performance for the period 20...
Article
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Dividend policy remains one of the top ten unresolved issues in corporate finance including in the banking sector. Hence, this study explores data from 250 commercial banks in 30 Sub-Saharan African countries to establish the causal relationship between the use of two major dividend policies in the sector and financial performance for the period 20...
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This study examines the dynamics of Lintner's model using bank-specific panel data from 15 commercial banks listed on the Nigerian Stock Exchange, using the newly introduced dynamic Panel-Auto Regressive Distributed Lag technique for the period 2006Q01 to 2015Q04. The study findings from the long-run estimates reveal that Lintner's model holds well...
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This study examines the roles of agency cost (monitoring and bonding cost) on compensation of managers with a view from the managerial-power approach to agency cost. We modelled managers’ compensation and agency cost of banks to emphasise the potential influence of agency cost on managers’ compensation. A Panel Generalised Least Square model was es...
Article
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This study examines the roles of agency cost (monitoring and bonding cost) on compensation of managers with a view from the managerial-power approach to agency cost. We modelled managers’ compensation and agency cost of banks to emphasise the potential influence of agency cost on managers’ compensation. A Panel Generalised Least Square model wa...
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The exponential development of information technology has presented many opportunities to organizations; however, it has also presented several challenges. A key challenge is how do organizations effectively use information technology and incorporate it into their strategies to make full use of its capabilities as an enabler. The fast-changing natu...
Article
Technology has evolved at an increasing pace over the decades. This advancement in technology has compelled organizations to include technology as a key component in their overall strategy. The proliferation of information technology tools aimed at making decision making more efficient and faster has also impacted the role intuition plays in an org...
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This paper investigates the major determinants of non-performing loans in the MINT (Mexico, Indonesia, Nigeria and Turkey) economies. Identifying major determinants of non-performing loans, which are observed to be growing in these countries in recent time, will also guide policy and forecasting future levels that will be useful for pre-emptive pol...
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This study investigates the existence of chaos on the Johannesburg Stock Exchange (JSE) and studies three indices namely the FTSE/JSE All Share, FTSE/JSE Top 40 and FTSE/JSE Small Cap. Building upon the Fractal Market Hypothesis to provide evidence on the behavior of returns time series of the above mentioned indices, the BDS test is applied to tes...
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This study seeks to provide new evidence on the stock market and exchange rate relationship in Zimbabwe, a country that does not have its own sovereign currency. The bivariate vector autoregressive approach is used to establish the relationship between the stock market and exchange rates. The results show that no relationship exists between the sto...
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This study investigates the association between information technology spend and future company performance for a sample of companies where accounting and market value measures are used as proxies for performance. While the earnings measure indicated a strong positive relationship initiating early on, the profit margin and asset turnover measures p...
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This paper investigates if there is a relationship between managerial ownership and firm performance in selected firms listed on the JSE, and if so, what that relationship is. The study conducts regression analyses over a sample of 23 retail sector firms, observing data stretching from 2010 to 2013. The results are found to be robust. The results s...
Article
This study examines dividend payout policies and the appropriateness of Lintner’s dividend smoothing model on the Johannesburg Stock Exchange (JSE) listed firms. The ordinary least squares method is used to analyze the data using annual data from 1995 to 2011. The study found that the dividend smoothing model slightly overstates the payout ratio by...
Article
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This paper explores the relationship between financial development and economic growth in South Africa. It employs an Auto Regressive Distributed Lag bounds testing approach and the Vector Error Correction Model to examine this relationship. The starting point of the analysis emanates from the works of Goldsmith (1969) who set out to chart the evol...
Article
This paper seeks to evaluate Zimbabwe’s banking sector capital requirements based on existing theory and evidence. Literature surveyed is used to critically evaluate the existing design of bank capital requirements. The study shows that all banks in Zimbabwe had fallen short of minimum capital requirements in 2012, prompting aggressive capital rais...
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This study seeks to investigate herd behaviour among equity mutual fund managers and the performance of mutual funds that trade against the herd in South Africa. The behaviour of mutual funds has an effect on the stability and volatility of stock markets, the ultimate returns to the investors. The study builds upon the efficient market hypothesis,...
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This study seeks to establish the influence of the short-term insurance industry on financial and economic development in South Africa. The study uses quarterly data from 1994 to 2009 to perform the Johansen (1991) co-integration tests and subsequently the Granger causality tests to establish the relationship between the short-term insurance indust...
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Since the 1990s assets of institutional investors have remained elevated in comparison to those of deposit-taking financial institutions in South Africa. This paradigm shift in the financial markets has provoked the ongoing theoretical and empirical debate, which, on the one hand, pits institutional investors as causing financial 'disintermediation...
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The corporate investment and financing decision plays a pivotal role in the financial management of firms operating under any economic environment. This paper investigates and analyses corporate financial strategies employed by banking institutions during the hyperinflationary period in Zimbabwe. Descriptive statistics are employed and the results...
Article
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A new phenomenon called “green knowledge” is fast developing in the modern economy albeit without responsive actions from management studies programmes offered by universities. Green knowledge refers to the awareness of climate change issues in everyday life. As much as business ethics has been given much attention in all spheres of academia, I arg...
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Climate financing (green financing) is currently attracting a lot of attention as governments, private sector, multilateral institutions and the donor community endeavor to control and reduce carbon emission and its dire consequences on the planet. On the other hand, the global capital system has become sophisticated and largely driven by financial...

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Projects (3)
Project
This study surveyed 1582 students studying Accounting degrees at universities in South Africa to assess their financial capability levels and intra-component drivers of financial capability. The study utilised statistical methods such as structural equation modelling technique was used to determine drivers of financial capability; regression analysis was further done to examine relationships between the students’ mean percentage scores and their socio-demographic factors.
Project
1. Determine the extent in which corporate governance drive the implementation of ERM in the mining sector. 2. Establish the extent in which firm-specific factors influence the ERM program implemented in mining companies. 3. Investigate the impact of ERM implementation on firm risks variations for mining companies. 4. Investigate the effect of ERM on firm value on JSE listed mining companies.