Misheck Mutize

Interest in the relationship between credit rating and economic growth is growing as emerging economies increasingly integrate into international financial markets. Without credit ratings, developing economies would not have been able to successfully issue their sovereign bonds to support economic growth. Therefore, this paper examines a causality relationship between Standard & Poor’s long-term foreign currency sovereign credit ratings and economic growth in 19 Sub-Saharan countries over the period from 2003 to 2018. The results of the Granger causality tests show a unidirectional causality from sovereign credit ratings to economic growth, not vice versa. This implies that economic growth is not significant in determining sovereign credit ratings. It can thus be concluded from these findings that sovereign credit ratings are proactive actions by rating agencies that are relevant in determining future economic growth. Thus, investors benefit from utilizing credit ratings to prevent inherent information asymmetry in fundamental economic factors. Therefore, it is important for policy makers to pay attention to sovereign credit ratings when formulating macroeconomic policies.

In the retail environment, customers are stimulated by the look and feel of a store and how it is laid out. Certain store elements create an atmosphere that attracts customers to certain outlets as their preferred shopping destination. Therefore, retailers need to ensure the customers’ shopping experience is enjoyable. This study aimed to examine the influence of atmospheric store elements on the factors that influence customers` satisfaction. A quantitative, cross-sectional, descriptive study was conducted in four retail outlets in Cape Town, South Africa, with data collected through a structured questionnaire distributed to the outlets’ customers. A systematic random sample of 388 responses was achieved. The information collected was analyzed using relevant descriptive and inferential statistics. Although small, positive correlations were found between the independent variables (cleanliness, lighting, music, floor adverts, employee efficient service, employee appearance) and the dependent variables (positive image of store, pleasant mood, time spent in store, intention to revisit store). As such, the study highlighted the importance of store atmospherics to the factors that encourage customers` satisfaction. Since little research has been done into store atmospherics in the South African context of grocery stores, this study has contributed new knowledge in this field.