Teses / dissertações sobre o tema "Corporate profits – South Africa"

The research aimed at broadly exploring whether there is a relationship between brand equity and shareholder returns amongst South African companies. More specifically, the research sought to establish whether there was a correlation between strong brand equity, represented by the Markinor brand relationship score and shareholder returns, represented by headline earnings per share of selected South African companies. The research also sought to establish whether South African financial markets were inclined to react to brand-related market announcements. The study utilised secondary quantitative data from various marketing and financial sources and used various statistical techniques to answer the research questions. The study was able to establish a relationship between brand equity and shareholder returns for some sectors of the South African market. Although there was evidence that there was movement of the share prices of the shares under investigation, the study was unable to conclusively prove that the share price movements on the days after the brand announcement were directly attributable to the brand-related announcement. There is growing pressure on the marketing fraternity to demonstrate the impact of brand investments on company financial performance. It is hoped that this research will contribute to the knowledge base and encourage more research into the subject.
Dissertation (MBA)--University of Pretoria, 2010.
Gordon Institute of Business Science (GIBS)
unrestricted

Thesis (MDF)--Stellenbosch University, 2014.
ENGLISH ABSTRACT: The earnings of small and medium enterprises (SMEs) depend entirely on their reinvestment rate of capital. A quicker reinvestment rate of capital would not be possible when debtor’s collection period and stockholding period is slow, nor will it be possible with a shorter creditor’s payment period. Therefore, working capital management is fundamental when it comes to the overall performance of small and medium enterprises. As a result, this study examines the impact of working capital management on the profitability of small and medium enterprises in South Africa. Working capital management has a direct relationship with profitability. The data selected in this study consists of all firms listed on AltX, which is a division of the Johannesburg Stock Exchange, for the period 2000 to 2013. Descriptive statistics and regression analysis were used to evaluate the data collected and the results concurred with the relationship found between working capital management and profitability. Specific variables such as the cash conversion cycle, debtors’ collection period, stockholding period and creditor’s payment period are all associated with the profitability of firms. The dependent variable is return on assets and is the measure of profitability in this study. Furthermore, the results of this study may provide significant insight for financial analysts, shareholders, creditors and managers.

This study explored the effective application of corporate governance in Milk SA NPC. The study is made up of five chapters, starting with an introductory chapter one. The introductory chapter provides general overview and background on corporate governance in the South African context. It also sets out the research problem as well as the research questions of the study. Chapter two introduces the principles and practices of corporate governance recommended by the King IV report on Corporate Governance in South Africa for the non-profit organisations. Chapter three explores Milk SA’s mechanism of ensuring compliance and effective application of corporate governance and also address the research questions of the study. Chapter four compares the corporate governance principles and codes applicable to South African and Australian non-profits companies. Finally chapter five finalises the study findings and concludes the study with recommendations.
Mini Dissertation (LLM)--University of Pretoria, 2020.
Mercantile Law
LLM
Unrestricted

Thesis (MBA)--University of Stellenbosch, 2010.
In June 2009, there were 56 244 not-for-profit organisations registered with the Department of Social Development in South Africa. In addition, there are about 100 000 informal (non-registered) not-for-profit organisations in South Africa. The budget allocation of these organisations varies from R100 thousand to R20 million. The South African not-for-profit sector comprises of three types of organisations, namely the Section 21 companies, trusts and voluntary associations. The Non Profit Organisations Act, No. 71 of 1997, came into effect on 1 September 1998 to assist and guide the not-for-profit sector in improving its governance practices. Globally and in South Africa, we see a shift in the focus of governance in the not-for-profit sector. In 2005, a broad forum of South African organisations, donors and government representatives developed a code of good governance for not-for-profit organisations. The forum focused on the need of profit-motivated organisations to invest in community and social developments that exhibit good governance practices. Corporate governance in South Africa has its foundation in the first King Report of 1994. This report, King I, was the result of the work of a committee, formed to address a code of good practices for corporate governance. Its purpose was to promote the highest standard of governance in South Africa, and it is not enforceable by law. In 2009, the third version of the King Report, King III, was released to enhance the current set of governance practices. In the South African context, the King Report is the key piece of best practices that drives governance in the for-profit sector. The not-for-profit sector in South Africa is transforming and adapting to the changing external environment. There is a requirement to have good governance practices in the sector. The size and nature of the organisation would determine the areas of governance that the organisation would apply. The “apply or explain” principles of King III provide each not-for-profit organisation with the flexibility to apply good governance practices.

Thesis (MBA)--Stellenbosch University, 2002.
ENGLISH ABSTRACT: Ongoing business sustainability today is one of the major issues facing the management of organizations. How to remain in the profit zone, that area where a company will be allowed to make high profit in its industry, is a constant challenge. Continued profitability in a fast changing industry, where the profit zone moves as competitors offer the same solutions, requires constant innovation, implementation of new ideas and heavy financial commitments. The key is to identify clear and rational business design choices that are responsive to customers and that will ensure profitability. This document will illustrate how the four major food retail companies in South Africa, and their visionary leaders, have reinvented their business designs in ways that kept or returned them to the profit zone. Shoprite's target market is the middle to lower income group. The company has built up core competencies within its business to serve this segment. There are currently a number of issues facing Shoprite's core market, and as a result the company is diversifying its income streams to be less dependant on a vulnerable target market. . The visionary leadership of Raymond Ackerman, who applied principles of customer sovereignty long before his peers, has resulted in one of the best-run companies in South Africa. Pick 'n Pay's ability lies within the middle to upper segment of the market. The company has built its business on one core element - the customer, and has adapted the company business design to meet the needs of the customer and capture value . .Spars' philosophy of giving the small retailer the power to compete with the larger retailer, who buys in bulk, has proved to be a successful formula and is threatening the traditional hierarchy. Owners who are in close contact to customers have the flexibility to align their businesses with the customer requirements. 'Woolworths has one of the strongest brands in the South African retail industry. However, the company has in recent years been in serious trouble having lost its way because it lost touch with its customers. Concentrating back on the core customers and building back confidence in its goods, have taken considerable focus. Each of the business designs are built on a deep understanding of what the customer needs are of the target market they serve and how they will be allowed to make a profit.
AFRIKAANSE OPSOMMING: Een van die grootste knelpunte vir organisasies vandag is volhoubare besigheidsbestuur. Die uitdaging is om in die area te bly waar die organisasie toegelaat sal word om hoë wins te maak. Voortgesette winsgewendheid in 'n industrie waar die wins area veskuif as gevolg van mededingers wat oplossings naboots, vereis voortdurende vernuwing en strawwe finansiële verpligtinge. Die sleutel is om duidelike en rasionele besigheidsontwerpbesluite te neem wat kliente behoeftes aanspreek en wat na 'n wins sal lei. Hierdie dokument beskryf hoe die vier groot voedselhandelaars en hulle leiers hul besighede herontwerp het sodat hulle winsgewend kan bly. Shoprite se teiken mark is die middel - tot lae inkomste groep. Die firma het kern bevoegdhede binne sy besigheid ontwikkel om hierdie segment te bedien. Shoprite diversifeer huidiglik sy inkomste stroom as gevolg van die kwesbaarheid van sy teiken mark. Pick 'n Pay word as een van Suid Afrika se beste bestuurde firmas beskou. Die sukses word toegeskryf aan die leierskap van Raymond Ackerman wat die beginsels van kliënte soewereiniteit lank voor sy portuurgroep geïmplimenteer het. Pick 'n Pay se fokus is die middel - tot hoë inkomste groep. Die firma is op een kern element gebou, die kliënt, en sy besigheids ontwerp is aangepas om die behoeftes van die kliënt te bevredig. Spar se filosofie is om die kleiner handelaar in 'n posisie te stel om met die groot handelaar, wat in grootrnaat aankoop, te kan meeding. Die groei wat Spar toon bedreig die traditionele hiërargie en bewys die sukses van hierdie formule. Winkel eienaars wat noue kontak met kliënte het, kan hulle besighede aanpas om in kliënte se behoeftes te voorsien. Woolworths het een van die sterkste handelsmerke in die Suid Afrikaanse handels industrie. Die firma was in die laaste paar jaar in groot moeilikheid omdat hy tred verloor het met sy kliënte. Deur weer te konsentreer op die kern kliënt en om vertroue op te bou in sy goedere het beduidende fokus vereis. Elk van die besigheids ontwerpe is gebou op 'n intieme begrip van die behoeftes van die teiken mark wat bedien word en hoe die firma toegelaat sal word om 'n wins te maak.

Magister Economicae - MEcon
The research study investigated the potential impact that organisational capacity assessments can have on the long-term sustainability of non-profit organisations (NPOs). The researcher employed longitudinal research design as the main instrument in the collection of data. Data was collected from four local non-profit organisations in the Cullinan and Bronkhorstspruit areas of South Africa. These organisations were evaluated by means of a questionnaire, which was developed by the researcher. NPOs can only play a pivotal role in community and social services if management, leadership, governance and other elements of organisational capacity are well developed and continuously strengthened. This is critical for attracting local and international donors who provide crucial running costs and relieve national, provincial and local government departments of the financial burden. Currently, the South African government supports NPOs in South Africa. The legislative and registration aspects of NPOs are regulated by the NPO Act (Act 71 of 1997) and the Income Tax Act (Act 58 of 1962). The State of South African Registered NPOs Report 2010/2011 indicated a growth of the number of registrations to have increased by 8.3%. However, in the same financial year a total number of 468 NPOs were deregistered; 98% of these lost their registration due to non-compliance of regulatory requirements. According to the State of South African Registered NPOs Report (2016) the total number of applications received for the financial year was 16 726 (53.7%), however 4 421 (46%) did not meet the requirements of sections 12-13 of the NPO Act, an issue that would definitely affect the existence of non-compliant institutions.

Thesis (MTech (Business Administration))--Cape Peninsula University of Technology, 2019
Corporate Social Responsibility (CSR) includes many elements. Among them, the uplifting of communities is the most common one. The context for this consideration of CSR is the unrest and discontent in the communities surrounding companies carrying out mining operations in South Africa. Desktop evidence is considered to show how mining companies affect surrounding communities in which they carry out their activities under the banner of CSR. A number of communities close to South Africa mines are confronted with socio-economic issues of poor health, including poverty, unemployment and housing inadequacy. These socio-economic problems are some of the reasons that contributed to the mass strike action that hit the Rustenburg platinum belt on the 16th of August 2012. The hypothesis of this treatise is that this strike was in part the failure of CSR. The drive of this research was to critically review the exercise of CSR by selected mining companies, and the impact they had on socio-economic challenges facing surrounding communities. The following research questions were addressed by desktop analysis: What are the socio-economic challenges facing the mining communities surrounding the mines? What are the sustainable development opportunities for the mining communities? What are the steps taken by South African mining firms to address these challenges and opportunities facing the communities? A qualitative method was used to address these questions. It is found that CSR policies can be used to overcome social and economic challenges, such as poverty, health, and education in mining communities, especially in less developed nations. However, in South Africa there is lack of commitment from the mining companies with regards to alleviating the socio-economic challenges local communities face. Due to insufficient consultation with the local communities, mining companies focus their attention on initiatives they choose. This choice may be the construction of clinics, classrooms and housing, whereas the local community may prefer they add the negative impacts on the environment as a result of mining activities, other businesses and their health. The conclusion drawn from this evidence is that the CSR practiced by mining companies operating in South Africa is inadequate. Many South African mining companies brand themselves as good corporate citizens, but have little positive and substantive evidence to show for their CSR efforts. It is recommended that there be greater accountability and involvement of the communities in CSR programs designed and implemented by mining companies operating in South Africa.

Drawing on relevant theory from memory studies, literary criticism, sociology, reception studies and book history, this thesis examines the prevalence of nostalgia in white South African writing of the post-apartheid period. It identifies the numerous and remarkably conventional texts by white authors that proliferated in this time which might be described as nostalgic, arguing that these constitute a key genre of post-apartheid South African literature. In seeking to offer an explanation for why these nostalgic forms predominated in this period, this study takes into consideration the full "communications circuit" of a book i.e. the life-cycle of a book from production to consumption. Consequently, it employs an interdisciplinary framework to examine nostalgic literature from the perspectives of both the producers and consumers of texts. It is argued, ultimately, that post-apartheid nostalgic writing was particularly involved in the protection of certain formulations and structures of whiteness at individual, collective and institutional levels. The argument unfolds in three phases, each of which explores the value of nostalgia and nostalgic white writing in a different but related sphere: namely, literature, memory, and the market. The first phase of the argument provides a literary critical reading of the generic hallmarks of these novels, considering a range of representative texts, including works by Mark Behr, André Brink, Justin Cartwright, J. M. Coetzee, Lisa Fugard, Christopher Hope, Jo-Anne Richards, and Rachel Zadok. The second examines the allure of nostalgia and nostalgic books for the writers and readers of this literature, drawing on sociological studies of post-apartheid white South African identity and reader-response theory to analyse a selection of online and print reviews by readers. In the third phase, the thesis utilises a book historical approach to investigate the influence of various literary markets and the publishing industry, both local and global, in shaping the nostalgia trend.

The main objective of this thesis is to investigate corporate governance practices in South Africa listed companies. Specifically, the thesis strives to achieve the following objectives. First, it investigates the extent of compliance with the best corporate governance practices as recommended by the King Committee on Corporate Governance prior to and post 2002 in order to understand whether there is improvement in corporate practices. Second the thesis investigates whether compliance with the best corporate governance practices are related to ethnicity of board structures (in particular Board Chairman, Board Dominance and Chief Executive Officer/Managing Director) and other factors such as company characteristics, market and performance related variables. Third it investigates the views/opinions of key stakeholders [e.g. regulators, King Code Commissioners, companies and institutional investors] regarding the state of corporate governance in SA and its influence in the Southern African Development Community (SADC) region. The findings from regression results indicate that compliance with the King Code increased substantially between 2002 and 2008. The results also indicate that compliance is high for accounting and auditing and boards and directors issues and lowest for integrated sustainability reporting issues. The findings also indicate that ethnicity influences corporate compliance with best practice governance principles such as the King Code, as per prediction. Compliance was also found to be high for large firms, firms with multiple listings in other stock exchanges and firms audited by Big 4 audit firms. Finally, the findings from the views of key stakeholders indicate that the Code has indeed improved corporate governance standards in South Africa, is suitable for the country because of its consideration of local circumstances and influences corporate practice in the SADC region.

Thesis (MTech (Management))--Cape Peninsula University of Technology, 2006.
This study investigated whether the different home languages of employees of a large financial institution in the Western Cape had an influence of their perception of organisational structure and processes. The author conducted a series of interviews with management-level employees who speak Afrikaans, English and Xhosa as home languages in an attempt to ascertain the extent of the influence of individual cultures on perceptions and actions in corporate society. Specific attention was given to how these individuals perceived meetings, decision-making processes and conflict. These interviews were transcribed verbatim and studied by means of narrative analysis using a specialised software package to provide a better insight into the roles language and culture play within the South African organisation. Based on the narratives provided by the respondents in this study, the author concluded that individual culture does play a significant role in the perceptions of organisational structures such as conflict management,interaction during meetings, decision-making and acceptance of authority.

This dissertation presents a legal and regulatory framework of corporate social responsibility (CSR) and the effect it has on social transformation in South Africa. It is premised on Dodds' theory of stakeholder protection which is articulated with greater clarity by Jeff Smith. He states that directors are agents of all stakeholders. In other words, they have the responsibility to ensure that every stakeholder's rights and interests are protected and fulfilled. This, he further explains, should be carried out by means of a balancing exercise between each stakeholder interest in every transaction. The dissertation demonstrates how the private sector can 'effectively' utilise principles of CRS to contribute towards and expedite social transformation. The significance of social transformation rests on it being a constitutional imperative as employed to redress the legacy of Apartheid. Lastly, the dissertation discusses CSR and how it affects social transformation in India and the United Kingdom (UK) with the aim of gleaning comparative insights. The dissertation then makes recommendations that the South African CSR legislation should embody objectives of our broader national interests similar to the Indian approach. In addition, it argues for a fully defined set of directors' duties which promotes compliance with CSR goals similar to the UK approach.

Thesis (MTech (Marketing))--Cape Peninsula University of Technology, 2005
Although South African companies seem to make an attempt to employ more women to meet the required employment quotas, not enough is being done to allow women to grow beyond certain levels in their jobs, and it appears that women are still under-represented at top management level in corporate S.A. Despite employment-equity laws, gender inequalities regarding representative male-female ratios in corporate S.A. still appear to be prevalent at executive level. A more representative profile of male-female ratios at executive level in corporate S.A. might contribute towards a higher level of bottom-line performance for any organisation. The underlying premise is that by recognizing and utilizing their human potential to the fullest, the under-utilised available female talents and skills can contribute towards a larger skills pool within the organisation. In an attempt to assist m bridging the gap of gender inequality in corporate S.A., professional women may be branded as a valuable company asset. For females to be accepted and recognized by corporate S.A. as a brand, it is important to position them as a brand. To position a brand means emphasizing the distinctive characteristics that differentiate that brand from its competitors in a way that appeals to its target market. Identity, quality, differentiation, guaranteed consistency and clear communication to the target audience are the cornerstones of the branding process. In order for female professionals to be identified as a successful brand. these elements of the branding process need to be adhered to. What have traditionally been perceived to be inherent female qualities appear to meet the demands of contemporary management and leadership paradigms in a way that adds benefit to any leadership or management role in corporate S.A.

Includes abstract.
Includes bibliographical references.
South Africa is one of the fastest emerging economies of the world and this rapid economic growth has been largely attributed to the adoption of the King codes and the various corporate governance structures. Against this background, this dissertation will begin by discussing the major changes that have been made from the King II report to the King III report. The driving forces behind this dissertation are contained in chapters three and four as these chapters will seek to ascertain some of the major progresses and challenges that have been scored in the area of corporate governance.

In this study, the researcher employed an inductive qualitative approach to explore the rationale and dimensions of corporate social investment (CSI) practice in South Africa. While the globalised CSI literature is robust, the South African literature is fragmented and insufficient, despite the growing social need for this type of funding in the context of South Africa. Thus, with this paper, the researcher fills this research gap by providing an exploratory analysis of the structure and evolution of CSI practice in South Africa. The motivation behind this research is to use the research to optimise the social impact that CSI participation can provide, as well as integrating corporate funding into the broader approach of addressing the country's poor socioeconomic conditions. In the study, the researcher covered a sample of 15 CSI professions operating in positions in either large South African corporations or established NGOs, with an average CSI experience of 13 years. The results of the inductive qualitative analysis show that the CSI functions operated using a traditional corporate function structure. The history and rationale of CSI practice have been key elements in defining current CSI practice. Initially, governmental regulation resulted in adherence strategies. However, growing social considerations have shifted CSI policy from adherence to impact. This has driven the growing sophistication in CSI practice in the country. The researcher breaks down this evolution and discusses the key strengths and weaknesses of each element to provide sufficient detail to the function. The findings are used to derive recommendations for CSI best practice. Internal commitment, sustainability, process management and key stakeholder relationships are prioritised in these recommendations. The exploratory findings provide a baseline in accordance with which more statistically robust or comprehensive research methods can be used to assess the identified elements of CSI more thoroughly and in more depth. The research provides a generalised benchmark for corporations to assess their CSI practice against an established peer group, while providing ideas about improving their CSI practice going forward.

Study project (MBA)--University of Stellenbosch, 2002.
ENGLISH ABSTRACT: The bond market is an important economic element of both developed and developing economies. The after effects of the Asian crises have prompted arguments that the existence of well-functioning domestic bond markets would have helped to mitigate the impact of shocks in the financial systems of the emerging markets both by providing an alternative source of funding to bank lending and by exposing investors rather than taxpayers to negative shocks. Comparative analyses of various emerging markets were done by using data from the IMF, IFC and various publications. Data from the developed nations, in particular the United States were used as a source of reference because corporate bond market has been used successfully in these markets. Given the limited sources of reference locally, data was sourced mainly from the Bond Exchange of South Africa publications, financial magazines and newspapers, workshop presentations and comments from various bankers, economists and fixed-income analysts. The report starts by looking at the size and growth of the market in comparison with its counterparts in the emerging markets. The reasons, facts, figures and arguments for such growth are thoroughly discussed. This study presents comprehensive macro-economic arguments on the development of the corporate bond market and the benefits they offer to corporates as an alternative source of long-term capital debt funding. The quantitative and qualitative model that assists corporates with the decision making process of whether to issue a bond to fund the capital structure is discussed. The study undertook a quantitative survey of the elements of corporate bond market in terms of coupon rates, bond pricing, risks (namely, credit rating risk and default risk) and the performance of the market, in particular the marketability, liquidity and returns. The investment strategy in the riskier part of the bond market is introduced and discussed, though limited in terms of development. The report concludes by mentioning the successes of the bond market by identifying the existing gaps in the market and the future development of the corporate bond market in South Africa, especially to attract more issuers to the net.
AFRIKAANSE OPSOMMING: Die lang termyn effekte mark, is "n belangrike finansierings element van beide die ontwikkelde en die ontwikkelende ekonomië. Die Asiese krises het as nagevolg gehad dat daar gefokus kon word op die moontlik versagtende invloed van "n goed gedefinieerde funksionele binnelandse effekte mark. Dit kon van die nagevolge versag het deur die daarstelling van "n alternatiewe finansierings bron en die daaropvolgende blootstelling van beleggers in die plek van die belastingbetalers. Vergelykende ontledings van verskeie ontwikkelende mark ekonomië is gedoen deur gebruikmaking van inligting verskaf deur die I.M.F. en I.F.K. asook ander publikasies. Inligting oor ontwikkelde lande in besonder die V.S.A. is gebruik as vergelykende anelise omdat die lang termyn effekte mark suksesvol bedryf word in hierdie markte. Weens die gebrekkige beskikbaarheid van binnelandse bronne i sinligting meestal vanaf die publikasies van die Lang Termyn Effekte beurs van Suid Afrika, finansiële tydskrifte, koerant publikasies, werkswinkel voorleggings asook gespekke met bankiers, ekonome en vaste koers beleggings ontleders verkry. Hierdie studie stuk, vergelyk in die eerste deel die omvang en groei van die mark in vergelyking met ander markte in ontwikkelende lande. Die verskeie groei veranderlikes asook redes en feite rakende groei word in diepte bespreek. Vergelykende makro ekonomiese bewyse vir die ontwikkeling en vestiging van "n lang termyn effekte mark, en die voordele daarvan vir Maatskappye as "n alternatiewe bron van kapitaal word in hierdie studie aangebied. Die kwantitatiewe en kwalitatiewe model vir gebruik deur Maatskappye om tot besluitneming te kom rakende die gebruik van effekte om kapitaal benodighede te befonds word ook bespreek. Die studie het ook "n kwantitatiewe opname ingesluit rakende die verskeie elemente van d ie effekte mark en 0 nder a ndere is daar nad ie koepon koerse, effekte prys bepaling, risiko (naamlik krediet en dishonorering), mark tendense en opbrengste, met besondere verwysing na bemarkbaarheid, likwiditeit en opbrengs. Beleggings strategie in die meer riskante deel van die lang termyn effekte mark word ook bespreek, maar dit is beperk weens die beperkte ontwikkeling daarvan. Afsluitend word verwys na verskeie sukses faktore in die effekte mark deur die indentifisering van bestaande gapings, en die toekomstige ontwikkeling van hierdie spesifieke mark in Suid Afrika. Die doelstelling om meer toetreders na die mark te lok as deelnemers deur die uitgifte van lang termyn effekte word ook benadruk.

The purpose of this study was to investigate and foster corporate citizenship (CC) in the SA taxi industry. The primary objective of this study was to foster corporate citizenship in the South African taxi industry by investigating the determinants that would increase CC in the SA taxi industry. The study gathered quantitative information about CC, identified which factors influence CC in the taxi industry and investigated which of these factors are the most important determinants that would increase the CC in the industry in South Africa. This study was intended to contribute to building the body of knowledge for the implementation and fostering of corporate citizenship programs. In particular, the researcher hoped that the framework provided in this study would outline the practical strategies that the taxi organisations should take in developing targeted, long-term partnerships with the communities in which they operate. Convenience sampling was used to select one hundred (100) participants. The response rate was ninety-six percent (96%). The sample was structured to include the directors, deputy directors, senior managers, managers and the drivers of the taxi organisations in twenty-three districts in the Eastern Cape. These participants were taken from the body that incorporates all the taxi associations in Eastern Cape called the Eastern Cape Bus and Business Chamber (ECBTBC). The empirical results revealed that in order to increase corporate citizenship within the SA taxi industry there should be an increase in its human resource management, operations management and the dynamic externalism of its members. The findings also revealed that the social cynicism should be decreased within this industry.

Thesis (PhD)--Stellenbosch University, 2014.
ENGLISH ABSTRACT: In this study the aim is to examine what the impact of the imbalance in the power dynamics between the state, business and labour is on corporatist institutions in South Africa and South Korea. In both countries, the corporatist institutions have failed to bring the actors together and to resolve the various issues as these institutions were expected to do. When looking at the establishment of corporatist institutions in the two countries it is clear that the state had to incorporate the interests of labour in their decision-making process due to the increasing power of labour during the democratisation process. However, the current situation proves that the corporatist institutions in South Africa and South Korea have faced various problems. Therefore why the corporatist institutions in the two countries have not functioned properly is explored in this study. It was found that labour has been placed at a disadvantage compared to the state and business. The influence of labour as an agenda setter and a representative of labour has diminished. On the other hand the state and business, which used to form a coalition under the authoritarian governments, have started gaining power along with globalisation. The adoption of neo-liberal economic policies, has resulted in the fragmentation of labour, generating unemployment and irregular jobs. The imbalance of power between the actors has negatively affected the corporatist institutions. Under the circumstances, the corporatist institutions did not ensure that the voice of labour was heard and heeded. Instead of using corporatism, labour in South Africa tends to use the tripartite alliance in order to advance its interests. Labour in South Korea is likely to use mass action, and this tendency prevails in South Africa as well. Also, the corporatist institutions have been criticised due to their lack of accountability and institutional problems; this has negatively affected their credibility. The corporatist institutions have become little more than names. In the cases of South Africa and South Korea, corporatism seems to have been adopted as a mere crisis response when the two countries faced political economic crises and it is seen as another control mechanism created by states experiencing democratisation. Furthermore, the imbalance in the relationship between actors negatively affected the corporatist institutions and in the end they collapsed.
AFRIKAANSE OPSOMMING: In hierdie studie word die impak van die magsbalans tussen die staat, sakesektor en georganiseerde arbeid op korporatisme in Suid-Afrika en Suid-Korea ondersoek. In beide gevalle het die korporatiewe instellings nie daarin geslaag om die nodige konsensus tussen die drie sleutel akteurs te bewerkstellig nie. As gevolg van demokratiseringsprosesse in beide state, en die toenemende invloed van arbeid, was die staat verplig om die belange van arbeid in besluitnemingsprosesse in ag te neem. Die korporatiewe instellings in Suid-Afrika, nl. NEDLAC en die KTC in Suid-Korea staar egter verskeie probleme in die gesig, Waarom die korporatiewe instellings nie behoorlik gefunksioneer het nie, word in die studie onder die loep geneem. Arbeid het in ‘n onderdanige posisie jeens die staat en die sake sektor te staan gekom aangesien die invloed van georganiseerde arbeid as ‘n agenda skepper en verteenwoordiger van arbeid afgeneem het. Aan die ander kant het die aanvanklike koalisie tussen die staat en die sakesektor gedurende die outoritere periodes - voor demokratisering - weer eens verstewig as gevolg van die invloed van globalisering. Namate neo-liberale ekonomiese beleide nagevolg is, het die vakbond beweging al meer gedisintegreer, werkloosheid het toegeneem en gelei tot werksgeleenthede wat al meer tydelik en ongereguleer is. Die ongelyke magsbalans tussen die rolspelers het die korporatistiese instellings negatief beinvloed. Onder die omstandighede, kon die korporatistiese instellings nie daarin slaag om aan die stem van arbeid gehoor te gee soos wat gehoop is nie. In plaas daarvan om dus van die korporatistiese instellings gebruik te maak, het arbeid in Suid-Afrika eerder van die vakbond beweging se rol in die regerende alliansie gebruik gemaak om beleid te probeer beinvloed. Arbeid in Suid-Korea, soos in Suid-Afrika, is ook meer geneig om van massa aksie gebruik te maak. Daarbenewens is die korporatiewe instellings daarvan beskuldig dat hulle nie deursigtig is nie en gebuk gaan onder institutionele gebreke, wat die geloofwaardigheid van die instellings ondermyn het. In die Suid-Afrikaanse en Suid-Koreaanse gevalle blyk dit dat korporatisme bloot as ‘n soort ‘krisis reaksie’ tot ekonomiese en politieke probleme ontwikkel het – in samehang met demokratisering - en nie as diepgaande beieldsprosesse in eie reg nie. Die gebrek aan ‘n magsbalans tussen die drie rolspelers het daartoe gelei dat die korporatiewe instellings in beide gevalle effektief tot niet gekom het.

Submitted in accordance with the requirements for the degree of DOCTOR OF LITERATURE and PHILOSOPHY In the subject of Communication Science at the University of Zululand, 2007.
This dissertation presents the results of an analysis of corporate social investment and HIV/Aids programmes in South African corporations. The study measures the growing debate over the responsibilities of business and the examination of Corporate Social Investment (CSI) programmes and communication strategies used in HIV/Aids awareness programmes by the top 100 listed companies on the Johannesburg Stock Exchange (JSE). The first part of the study reviews theories and literature relevant to defining the understanding and the impact of HIV/Aids on businesses, the idea of corporate social investment/responsibility and the business response to AIDS. Subsequent chapters describe the construction of a survey instrument employed to measure and evaluate the extent of CSI and HIV/Aids in South African corporations and the findings of the survey. Penultimate chapters blend the insights gained from this literature review to interpret the results, obtained through the quantitative research methodology, to describe a set of conclusions and recommendations in the context of applying corporate social investment -and HIV/Aids to the South African business environment.
National Research Foundation (NRF)

Corporate turnaround, in comparison to financial distress, is not substantially researched either internationally or locally in South Africa. This study attempts to explore this area of research by developing models that identify financially distressed companies with a potential for turnaround. This analysis examines listed companies on both the JSE Securities Exchange ('JSE') and Alternative Exchange ('AltX') for the period 2007 to 2014 by using available data from iNet BFA. The financial distress model, Taffler's Z-score, is used to identify companies that fall within the sample. Multiple linear discriminant models with interaction variables are used as part of the process to derive the turnaround models. The first model shows that efficiency is a key driver for a successful turnaround. The second model reveals that JSE-listed companies are more likely to survive than AltX companies. This study contributes to the existing research by identifying significant factors for corporate turnaround and summarizing its findings in a practical manner.

This study sought to explore and develop a better understanding of the factors that drove corporate payout policy decisions in South Africa. Recent trends the world over indicate a growing trend of stock repurchases, largely at the expense of dividends, as the preferred payout method firms use to return excess cash. The study was inspired by the research work done by Brav et al., (2005) in the United States of America (US). The study was conducted using fifty survey responses from a sample size of 175 companies listed on the Johannesburg Stock Exchange. The results reported evidence that financial flexibility, catering theory of dividends and price support positively affected a company's payout policy choice. The results were mixed on the signalling theory as an important factor which confirmed the ambiguity of signalling theory. The South African results mirror those of the US results, and the study contributed to growing literature on factors that influence corporate payout policy decisions.
Mini Dissertation (MBA)--University of Pretoria, 2017.
zk2017
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted

There have been calls the world over for academic institutions to adopt corporate forms of management. Unisa Council declared its commitment to corporate governance in the Annual report 2009. This study aims to determine whether Unisa Council activities and decisions comply with corporate governance as per the King III Code and identify any area(s) of improvement. Case study research was undertaken to investigate compliance with the principles of good governance as recommended in the Code. A checklist was used to collect data from university documents and this data was analysed by pattern matching. Unisa performance was then compared with that of University of KwaZulu-Natal. Unisa Council performed 91percent of recommended practices and thereby complied with 87 percent of principles of good governance as per the King III Code on Corporate Governance. Unisa did not comply with three principles and neither complied nor not-complied with five principles as the level of performance of corresponding recommended practices was below the threshold of 75 percent. UKZN achieved 91 percent performance of the recommended practices and thereby obtained 87 percent compliance. The study also showed that practicing corporate forms of management to improve academic governance does not necessarily relegate academic interest to lower levels. This means that these institutions delivered on their mandate from the Higher Education Act, 1997 (as amended). Unisa and UKZN are primarily public institutions of higher education and not profit driven, despite them embracing corporate forms of management.

Magister Legum - LLM
Corporate Social Responsibility (CSR) is not a new issue. There has and will always be the need for organisations to make profits and the needs of society. CSR has been considered more strongly than ever since the early 1990's, building on a trend that had been growing since the start of the 20th century. CSR broadly refers to all of an organization's impacts on society and the need to deal responsibly with the impacts on each group of stakeholders. The King IV Report on Governance for South Africa 2016 encapsulates the idiosyncratic South African context of CSR. In the African context these moral duties are manifested in the concept of Ubuntu which is captured in the expression 'uMuntu ngumuntu ngabantu', 'I am because you are; you are because we are'. This model being the premise upon which the CSR partnership is researched herein. Ever since the publication of the King Reports on Corporate Governance, South African businesses have sharpened their focus on their commitment to the 'triple-bottom-line'. It is impossible for organizations to ignore the impact of social, ethical and environmental issues on their business and the economy and the cost of neglecting these issues will be high. CSR has gained increasing prominence as a result of increased stakeholder demands, limitations of government and civil society to address complex societal issues, and the realization by most businesses that their sustained success depends on their ability to address local sustainable development challenges. Corporate sustainable development, despite not being a business' core responsibility, is doubtful to be achieved without the support of other businesses as they represent the productive resources of the economy. Although there is consensus that businesses have a vital role to play in addressing sustainable development challenges, companies still have a responsibility to more traditional elements of what constitutes business success. In this regard companies have to meet somewhat conflicting expectations of markets and stakeholders, the economic bottom line being a dominant factor in decision making. Companies therefore may not be able to meet the level of resources essential to achieve the scale and impact so as to address the challenges of these competing priorities. For business to effectively move the sustainability agenda forward, there is a need for a systemic approach, as sustainability cannot succeed in an unsustainable system. In order to achieve the scale, speed and impact necessary, an integrated approach that leverages key role players is critical to drive change and support sustainability. It is in this regard that this research paper will explore, the wider definition of regulation 43(5) (a) (ii) (bb) published in relation to the Companies Act and whether it provides for corporate partnerships, if so, does it achieve contributions to community development and does this advance the corporate sustainability agenda.

Corporate governance has become the slogan of the global investment arena over the past decade. Corporate scandals and collapses with major loss to shareholders have noted a change in investors' attitude towards this topic. Corporate governance has not only become important for the survival of companies in the global economy, a set corporate governance framework too is required to merely attract capital for start-ups. This study focuses on the institutional investors in South Africa, and their attitudes towards current corporate governance standards in South Africa, and attitude to governance reform. The aims of this study: * To accentuate the significance, features and benefits of corporate governance in light of the empirical analysis; * To understand South African institutional investor environment better, and their monitoring and participating roles in corporate governance for investment in listed corporate entities; * Review the key criteria factored into investing, and how these are monitored on an on-going basis. Corporate governance criteria in specific was used; * Highlight the attitudes of South African institutional investors to corporate governance in South Africa, and their perception on corporate governance reform; * Review weakness in findings in light of the empirical study and analytical framework and summarise recommendations given the outlook for this sector. We introduce the topic of corporate governance and the concept of agency theory which highlights the reasons behind opportunistic behaviour which occurs at different levels within corporate organisations. We further discuss the change in attitudes of institutional investors on the back of corporate scandals, as well as the reasons and remedies of institutional activism. A background of South African institutional investors is also conducted, with a review of current legislation and corporate governance reform mechanisms applicable to South Africa. Following this is a broad literature review on the quantitative as well as qualitative information needs of institutional investors; this forms the basis for the structure of our questionnaires conducted. The last section draws on the critical findings and insights (including quotes from the interviews) on the role of institutional investors in South Africa, followed by the summary and limitations of this study.

Thesis (MPhil)--Stellenbosch University, 2005.
ENGLISH ABSTRACT: The HIV/AIDS pandemic is destroying young adults in the prime of their lives. Children not only become orphans, but also gain instant “adult” status – becoming heads of households, breadwinners and customers. Children who fill such roles must be recognised as important stakeholders with regard to business. As limited available estimations suggest that South Africa is home to 800 000 orphans, corporations must realise that it will make good business sense to invest in the country’s AIDS orphans1 today, as these children will constitute both their future clients and employees. This study examines trends in the Corporate Social Responsibility (CSR) initiatives of five major corporations in the South African motor manufacturing sector. AIDS orphans were also involved in the study through participation in three focus group discussions. The evidence reveals that corporations do not recognise AIDS orphans as important stakeholders to business, nor do they see it as their responsibility to carry the burden of care for such children. Orphans felt that corporations in this business sector do not care about their needs and well-being. They regarded companies who were involved in CSR projects in their communities as “caring” and this resulted in the children hosting positive feelings towards involved companies. They even expressed the desire to purchase their brand of motor vehicle, as opposed to competitor’s brands that were not involved (through CSR) in their community, in future.
AFRIKAANSE OPSOMMING: Die MIV/VIGS pandemie is besig om die lewens van jongmense te verwoes. Kinders word nie alleenlik wees gelaat nie, maar word ook oornag volwassenes. Hulle word die hoof van huishoudings, broodwinners en kliënte vir besighede. Kinders wat hierdie rolle vervul moet daarom as belangrike aandeelhouers in die besigheidswêreld erken word. Beperkte skattings veronderstel dat Suid-Afrika tans ongeveer 800 000 weeskinders huisves. Besighede moet, in die lig hiervan, besef dat dit goeie besigheidssin maak om in VIGSWeeskinders1 te belê, aangesien hierdie kinders hul toekomstige kliënte en werknemers is. Hierdie studie ondersoek tendense in besighede se sosiale verwantwoordelikheidsinitiatiewe (“Corporate Social Responsibility Initiatives”), binne die motorvervaardigingsbedryf van Suid- Afrika. VIGS-Weeskinders was ook nouliks by die studie betrokke, deur middel van deelname aan drie fokusgroepbesprekings. Die studie het bewys dat besighede nie VIGSWeeskinders as belangrike aandeelhouers erken nie, en dat dit ook nie as hul plig gesien word om na weeskinders om te sien nie. Weeskinders, daarenteen, was van die opinie dat besighede in dié bepaalde bedryf nie omsien na hul welstand, of probeer om in hul behoeftes te voorsien nie. Kinders het wel besighede wat betrokke is by sosiale verwantwoordelikheidsinitiatiewe in hul gemeenskappe, beskryf as “liefdevol”, en dit het daartoe gelei dat kinders positiewe houdings jeens sulke besighede gehuldig het. Kinders het selfs die behoefte uitgespreek om, eendag eerder handelsmerke se voertuie te koop wat wel sosiale verwantwoordelikheidsinitiatiewe in hul gemeenskappe bedryf, as dié wat niks doen om hul lot te verlig nie.

The aim of this research project was to evaluate the available theoretical information on Corporate Social Responsibility and with this knowledge to then also evaluate three companieś initiatives based on this information. Gone are the days when an organisation could do business for the sole purpose of making a profit. If the organisation does not take the environment into account in doing business, or if the community where this organisation is situated or does business, feel “abused” or that their needs are not being addressed, the organisation will not survive and its future sustainability can not be assured or guaranteed. This has been proven internationally, but how does South African organisations fare when it comes to corporate social responsibility, and more specifically, what social responsible initiatives are taken? The research also attempted to determine how “industry specific” the three companies'́ initiatives are and whether any changes in initiative-directions should be considered. The Social Responsibility Initiatives of Woolworths, ENGEN and SABMiller (South Africa) were evaluated and certain shortcomings were identified and presented to the various companies. These companies deliver excellent products and services to their client base, but it was felt that should adherence be given to the recommendations that were made, the mentioned companies could in future improve their turnover, market position and increase their client support base. Finally, it could also assist in increasing brand loyalty amongst their customers.

Thesis (MBA (Business Management))--University of Stellenbosch, 2007.
ENGLISH ABSTRACT: Fidentia became an active player in the South African financial services industry in 2005, only a few years since its inception. This was achieved through aggressive take-overs and a favourable public image boosted by employing known sports personalities and sponsorships of various sports teams, charities and other events. The Fidentia group seemed to go from strength to strength under the leadership of Mr. Arthur Brown assisted by his senior management team of which none more prominent than Mr. Graham Maddock. The group’s main business is Fidentia Asset Management (FAM) which, during 2003 and 2004, secured two of the biggest clients in Fidentia’s history. In 2003 the Transport Education Training Authority (TETA) invested R200,3 million and R1,2 billion of the Mineworkers Provident Fund was placed under its’ management in 2004. The Fidentia group was placed under final curatorship on 27 March 2007, based on reports by the then provisional curators and the Financial Services Board which claimed that their inspectors could not trace R680 million of almost R2 billion under the management of FAM. The analysis of the unfolding Fidentia case will show that without proper strategic planning and management, as well as adherence to suggestions on good corporate governance stakeholders’ risk exposure can be increased. NOTE: The information available till end August was analysed.
AFRIKAANSE OPSOMMING: Fidentia was teen 2005 ‘n aktiewe speler in die Suid-Afrikaanse finansiële dienste industrie, slegs ‘n paar jaar nadat dit gestig is. Dit is bereik deur aggresiewe oornames en ‘n publieke beeld wat versterk is deur bekende sportpersoonlikhede aan te stel en verskeie sportspanne, liefdadigheidsorganisasies en ander gebeurlikhede te borg. Die Fidentia groep het skynbaar van krag tot krag gegaan onder die leierskap van Mnr. Arthur Brown, ondersteun deur sy senior bestuurspan waarvan niemand meer prominent as Mnr. Graham Maddock. Die groep se hoofbesigheid is Fidentia Asset Management (FAM) wat gedurende 2003 tot 2004 twee van die grootste kliënte in Fidentia se geskiedenis verseker het. Gedurende 2003 het die “Transport Education Training Authority (TETA)” R200,3 miljoen by FAM belê en R1,2 biljoen van die “Mineworkers Provident Fund” is in 2004 onder FAM se bestuur geplaas. Die Fidentia group is op 27 Maart 2007 onder finale kuratorskap geplaas gebasseer op verslae deur die destydse voorlopige kurators en die Finansiële Dienste Raad wat beweer het dat hul inspekteure nie R680 miljoen van die amper R2 biljoen onder FAM se bestuur kon opspoor nie. Die analise van die Fidentia saak soos dit ontvou, sal wys dat sonder behoorlike strategiese beplanning en bestuur, asook die voldoening aan voorstelle van goeie korporatiewe bestuur belanghebbendes se blootstelling aan risiko kan verhoog. NOTA: Die inligting beskikbaar tot einde Augustus 2007 is ontleed.

Business failure should be of concern in most industralised countries and the importance of accurately evaluating the phenomenon from a management and investment point of view is enormous. Were it possible to predict failure with a certain degree of confidence, steps could be taken to rectify the situation and the benefit would accrue to all of the stakeholders in the macroenvironment. In essence, the profitability of a business is influenced by two sets of variables. In the first instance, it is influenced by a variety of internal (microeconomic) variables which are firm- specific and which management is generally able to control. A further distinction in this regard may be made between the financial and non-financial variables. In the second instance, it is generally accepted that profitability will be influenced by a number of external (macroeconomic) variables which are generally beyond the control of management. In the main, however, the profitability of the firm is generally determined by a combination of both sets of factors. To date, a great deal of research has been undertaken in an attempt to establish a reliable model which may be used to predict failure. This has mainly been confined to the microeconomic variables which can be used to predict failure and attempts have been made to isolate either a single financial ratio or a number of financial and non-financial variables which can be used to model corporate failure. The research has met with a certain degree of success although this appears to be confined to the economic environment to which the models have been applied. The models are less successful when applied to other macroenvironments. Limited research has been undertaken into the macroeconomic variables which contribute to business failure or to a combination of the two types of variables. It is appropriate therefore that further consideration be given to the establishment of a model incorporating ALL the variables which could contribute to corporate failure. The purpose of this research is to undertake an investigation of micro- and macroeconomic variables that are freely available to reserachers and which may be used in a failure prediction model. The intention is to obtain a comprehensive, yet simple model which can be used as an overall predictor of PENDING failure.

This research was undertaken within the broader concept of Corporate Social Investments and how this concept is integrated within the context of staff retention and what this means for business and creating employment opportunities for people with disabilities. Illustrated through the description of CSI literature and intending to explain the link between CSI and employee retention, research questions presented as part of the outcomes for the research examines notion that there is a relationship between Corporate Social Investment and Employee Retention. Reference to the case study "Rhodes / Kuyasa Partnership" illustrates how such partnerships attempt to create opportunities for the community, the organisation, people with disabilities and employees at large. The case study was written to be used as a teaching case study in the context of Human Resources, Business Sustainability and Corporate Social Investment. The effectiveness and viability of the Kuyasa / Rhodes partnership will highlight acceptance and or non acceptance of people with disability by the non-disabled workforce. This case study will highlight CSI linkages that lead to staff retention, higher job satisfaction, lower turnover of staff, enhanced community engagement, creating opportunities that accommodate people with special needs, developing models that can be replicated in other organisations, creating additional opportunities for existing staff. Metcalf (2008:61) suggests that organisations need to ensure that the leadership and organisation culture within organisations is appropriate to engage staff with disabilities and non-disabled staff, and that their most senior managers demonstrate their commitment to develop, and help others develop, in the same way. The Kuyasa Rhodes Partnership may have started off as a Retention Strategy, however has given rise to a social initiative that can be replicated in other enabling organisations. The case study material was acquired through one on one interviews, and a focus group session on the effectiveness with the retention of such employees with intellectual disabilities, internship and mentoring issues, and as well as issues such as affirmative action, and the benefits and shortcomings of staff retention to the organisation. Key stakeholders interviewed for this case study expressed differing view -points, and in particular the benefits and shortcomings of this initiative. The Rhodes Kuyasa initiative appears to have achieved some success in enabling young adults / learners to work in a mainstream working environment by developing employment skills and life skills, and by improving their employment opportunities. Factors critical to the continuation of such initiatives included: the close involvement with both partners (Rhodes and the Kuyasa Special School), the sensitive treatment of the learners, and creating internal departmental partnerships within the Rhodes environment. A selected group of ten learners were mentored and provided with full time employment within the industrial Campus Food Services facility. Discussion that was highlighted in the case study must give consideration to a more investigative approach into overcoming the barriers of discrimination in the workplace and the major barriers to skills development. These have highlighted a number of relatively consistent themes around what were the successful and unsuccessful strategies. Integration of people with disabilities within the Rhodes University service areas has had positive effects for the disabled learner and employee workplace. People with disabilities indicated on how having mainstream employment allowed them to be independent, have a purpose in life and enhance their self worth in their communities and place of employment. Furthermore, being employed had positive repercussions on the person‘s co-workers. By demonstrating their competence, people with disabilities have had significant impact on other people‘s attitudes to disabled persons. Discussions held with the Principal of the Kuyasa Specialised School highlighted the need for crucial planning within special schools for disabled people in the area of transition from school to skills development and work. Skills development guidance is important in ensuring a choice of relevant interventions and obtaining the necessary information. Some staff expressed frustration at being with co-workers who questioned their presence and placement in the kitchen environment. Even though the disabled person was suitably placed they faced stereotypical behaviour and attitudes from their co-workers on what people with disabilities can or cannot do. Staff with intellectual disabilities commented that their co-workers see them as needing constant attention and care and not being capable of working. Some of the staff with disabilities had to work much harder to be recognised by their co-workers and supervisors. Currently few people with disabilities seem to be receiving career guidance while at school, as reflected in the case studies. One person with an intellectual disability described how the intervention of developing a comprehensive school leaving plan, which was then implemented by the school, allowed for good transition from school to Rhodes University. The role of personal factors such as life skills, personal motivation, the desire for personal achievement and a positive attitude were common themes that came out of the focus group. Initiatives to ensure that people accept themselves, their circumstances and are able to express their desires and realise their dreams are important factors. In addressing the barriers, co-worker attitudes make a big difference to how effectively the disabled person is able to participate in the training and employment. The future focus must be enabling and in line with successes and failures in the areas of employee integration in the workplace, life-skills development for people with disabilities. A clear career guidance plan should be developed for all disabled children before they leave school. This plan should include provision of adequate information on different career options and training. The negative attitudes of co-workers and supervisors should be changed by providing training support to ensure that they feel confident to meet the needs of disabled staff. Employers should be providing support and information on how to meet the needs of disabled employees. People with intellectual disabilities are an integral part of the South African population. Business and social enterprises need to have a focused inclusive strategy to integrate people with intellectual disabilities within the South African society to ensure equity and diversity awareness. Working with people with intellectual disabilities has been the focus of this research to ensure long term sustainable employment, CSI and Employment equity. Integrating Corporate Social Investment policies with Human Resources Equity policies are important factors in ensuring that people with intellectual disabilities are a fundamental focus in recruitment and retention strategies within business and social enterprises. Initiatives such as the Kuyasa / Rhodes Partnership are attempting to align to the overall objectives of incorporating people with intellectual disabilities into mainstream work, in particular, with the objective of incorporating people with disabilities in some accessible sections within the organisation. This contributes to the Rhodes University Campus Food Services becoming an example of excellence in the CSI and employee retention field. It is hoped that this teaching case study will make an important contribution to students learning about sustainable business practices, and for business focusing on employment recruitment and retention strategies to integrate people with intellectual disabilities within their organisations.

Magister Legum - LLM
Corporate governance is a principle that has had multiple evolving definitions. The Cadbury Report (also known as Financial Aspects of Corporate Governance) of 1992 is a report that sets out recommendations for best practice of a company board. Although the Cadbury Report was ideally formulated to apply to companies in the United Kingdom, its recommendations have formed the basis of many international codes over the years. It refers to corporate governance as the "system by which companies are directed and controlled". Solomons also explores the definitions of corporate governance in her book titled 'Corporate Governance and Accountability'. She acknowledges the existence of ‘narrow’ definitions and ‘broader’ definitions. Narrow definitions are more concerned with corporate accountability to a company’s shareholders. On the other hand, broader definitions seek to identify corporate accountability to shareholders and stakeholders. This definition encompasses a larger group of people, which include the society at large, future generations and the environment. For the purposes of this research, the broader definition will be utilised. Simply put, corporate governance refers to the practice in which companies are managed and controlled. This is achieved through balancing the interests of the many stakeholders of a company such as; employees, shareholders, suppliers, management, the government and many others. Corporate governance aims to create an environment whereby the company is managed in a way which promotes the interests of the stakeholders. These include, but are not limited to; the balance of powers in a company, compliance with laws and regulations, identification and management of potential risks, and ensuring accountability for its actions. In a nutshell, corporate governance can be viewed as the responsible leadership, governing and sustainability of a company. On the other hand, Corporate Social Responsibility (CSR) can be viewed as a branch of corporate governance and this shall be discussed further below. In many parts of the world, CSR functions as a voluntary code of conduct. This means that corporate entities are usually guided by a set of principles of good intent. Corporate entities are expected to self-regulate their affairs with their social effects in mind. Some scholars strongly believe that the voluntary nature of CSR is its very essence. It is a value that has to be realized through free will and philanthropy. However on the other hand, other scholars believe that this flexibility can be misused.

Examining corporate social investment (CSI) in South Africa through a lens of institutional theory, this study investigates the validity of criticisms found in literature and society of the practice of CSI in the country. Using a two-phase explanatory sequential research design, an initial quantitative study of archival data provides insights into the current state of CSI in South Africa. Regression and principal component analysis are then used to investigate the relationship between CSI levels and indicators for corporate financial performance and social need. A subsequent qualitative study utilising thematic analysis of interview data addresses questions arising from the quantitative analysis. Semi-structured interviews are conducted with leading corporate executives and academics in the field of CSI regarding their perceptions of the efficacy of CSI and the motivations driving corporate funding of CSI, including their concerns regarding CSI and suggestions for improvements. This study reveals profound concerns amongst corporate practitioners and in academia regarding the practice of CSI, including perceptions that the social impact of CSI is low and that the quality of many CSI programmes is poor. The motivations behind the funding of CSI were also seen to be largely inauthentic, with companies driven primarily by regulation or self-interest in their funding of CSI, rather than a sense of moral imperative. Companies appear to embrace CSI in an attempt to adhere to the social expectations and laws of society, thereby gaining legitimacy, stability, and improved long-term survival prospects. The formal structures and rhetoric surrounding CSI have become decoupled from the underlying activities that characterise its practice, however, a result of relative corporate indifference to its social impact. This ceremonial commitment to the practice of CSI has led to an emphasis on the optics rather than the impact of CSI activities. The results of this study suggest that enhanced incentives or disincentives and greater accountability may be required in order to make CSI contributions more impactful, as may improvements to best practices in the field.

In partial fulfillment of the Degree: Master of Commerce (Accountancy), University of the Witwatersrand, October 2017
This research examines through the use of survey data which key factors around a companies‟ industry positioning, strategic decisions and internal qualitative capabilities, are considered by financial analysts when preparing their financial forecasts. The research covered buy-side and sell-side analysts in South Africa. The results were however found to be non-conclusive and did not align to previous research on this matter. Comparisons between analysts covering the same company were performed with consistencies found on average across all variables. It is interesting to note that when a detailed analysis and comparison was performed by individual variable for analysts covering the same company, different views on some of the variables were identified between buy-side and sell-side analysts, therefore supporting the research obtained during the literature review. It was found based on the tests performed that the factors which have an impact on forecasted financials relate to superior product/service strategy, innovation and ability to execute strategy. These variables were however noted not to be consistent across all the financial forecast factors and are contradictory to the research highlighted in the literature review as well as the outcomes of the original study, ie. There are additional factors which are considered important. Further research is recommended on analyst behaviour in South Africa.
GR2018

A research report submitted to the Faculty of Science, School of Animal, Plant & Environmental Sciences, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Science in Interdisciplinary Global Change Studies. Johannesburg, 2016
This study examined the retail clothing industry of South Africa and the associated sustainability practices, with particular focus on supply chain management. This study was conducted in order to test the relationship between sustainable supply chains and profitability in the hope that it might provide incentives for managers to adopt sustainability into their supply chain operations. The study made use of a case study analysis through a collection of quantitative and qualitative data of the sample organisations’ integrated reports and financial results to determine if there was a correlation between sustainable business practices and long-term economic profitability. Interviews were also conducted with industry participants in order to gain further insight. The study found that organisations that showed the highest investment along all three pillars of sustainability also experienced the largest and most stable economic growth within the sample. Although this could not be validated due to the limited sample size, the results did infer a positive association between sustainable supply chain management and economic success. It was also found that investing into the social capital of an organisation did have the potential to improve the economic success of an organisation within the retail clothing industry of South Africa. This study identified sustainable supply chain management frameworks that could benefit organisations within this industry financially. Further research is required into this field but it can be inferred that the incorporation of sustainable supply chain management can lend itself towards economic success within the retail clothing industry of South Africa.
LG2017

Doctoral thesis submitted to the University of the Witwatersrand, Faculty of Commerce, Law and Management in fulfilment of the requirements for the degree of the Doctor in Philosophy, December 2016
Healy and Wahlen (1999:368) define earnings management as an event that “occurs when managers use judgement in financial reporting and in structuring transactions to alter financial reports to either mislead some stakeholders about the underlying economic performance of the company or to influence contractual outcomes that depend on reported accounting numbers.” Management’s intent to mislead users distinguishes accruals that signal managers’ inside information about future cash flows from earnings management which intends to misrepresent performance (Dechow and Skinner, 2000; Parfet, 2000). Earnings management is a very serious issue; if it is not detected it can result in large financial losses for investors and creditors. Earnings data is a fundamental input to valuing a firm’s shares and prospects. Erroneous assessments of future cash flows because of misleading information will result in invalid share valuations and incorrect lending decisions which can have negative consequences on capital markets. The severe negative consequences of earnings manipulation, if undetected, suggest that investors, auditors and regulatory bodies should be aware of the prevalence of earnings management in an economy, whether investors are able to detect and price suspected earnings management and the most efficient way to detect it. This thesis aims to answer two fundamental questions: Does earnings management exist in South Africa? Are investors in South Africa misled by earnings management? How to detect earnings manipulation is the predominant theme in earnings management literature. The majority of research has been conducted in advanced economies and has transformed from identifying discontinuities in earnings distributions and measuring discretionary accruals to sophisticated predictive models, such as the F-score (Dechow, Ge, Larson and Sloan, 2011). Yet, research into the subject is sparse in emerging markets and tends to replicate existing methodology. The objective of this thesis is to examine earnings management in the South African economy, with the specific aim of identifying a databank of suspected earnings management firms that can be used for further research. Because the number of firms that have been forced to restate earnings is small in this environment, this thesis resorts to identifying suspected earnings management firms using discontinuities in earnings distributions. South Africa is similar to other emerging economies in that it is characterised by concentrated ownership, weaker legal enforcement and a smaller stock exchange. The South African environment is dissimilar to emerging economies as the JSE is considered to be well regulated, accounting and auditing standards are world class and accounting transparency and disclosure are satisfactory (Leuz, Nanda, and Wysocki, 2003). The results of this thesis are relevant in an institutional and macroeconomic setting where incentives to manipulate earnings, enforcement, legal protection, rule of law and sample size may differ from those in developed economies. This thesis firstly, focuses on methodological issues that may be encountered by researchers in identifying discontinuities in earnings distributions in emerging economies and secondly, validates kernel density estimation, Lahr (2014), as a viable methodology to test for earnings management by comparing total accruals, discretionary accruals and working capital accruals between suspected earnings management and non-earnings management firms. Thirdly, deferred tax expense is considered as a predictor variable in place of discretionary accruals in detecting suspected earnings management firms. Finally, in order to investigate investors’ reaction to suspected earnings management this thesis investigates whether the market prices suspected earnings management firms differently from non-earnings management firms. Pre- selected researcher binwidths (Burgstahler and Dichev, 1997, Coulton, Taylor and Taylor, 2005, Glaum, Lichtblau, and Lindemann, 2004; Holland and Ramsay, 2003) prove to be unsuitable in this milieu. Consequently kernel density estimation Lahr (2014), which derives bandwidths from the empirical earnings distributions, is used to identify discontinuities and to concurrently investigate the effect of deflation on the location of discontinuities. Discontinuities are shown to exist in earnings levels and changes distributions and emerge around zero in earnings levels distributions where number of shares is the deflator. Two important results emerge from this analysis. Firstly, when kernel density estimation is used in levels distributions, there is evidence that deflating by market value of equity and total assets shifts the location of suspected earnings management firms to the second and third intervals to the right of zero. Scaling does not alter the location of suspected earnings management firms in earnings changes distributions. Secondly, in the earnings deflated by number of shares distribution there is evidence that the band of suspected earnings management firms contains the results of firms that have upwardly and downwardly manipulated earnings. The implication of these findings are that deflating by number of shares is probably the most efficient scalar and that if doubt exists, alternative deflators should, at least, be compared between profit and loss firms. In addition, in the presence of evidence of downwards earnings management, researchers should evaluate whether and how to identify firms that are suspected of having reduced earnings. Specifically in emerging market research, these results indicate that it is inappropriate to merely replicate distribution research based on researcher selected binwidths and that kernel density estimation is probably more efficient in identifying discontinuities as it gives researchers a much broader perspective on the location of discontinuities. Kernel density estimation is confirmed as a method to identify discontinuities in earnings levels and changes distributions by comparing total, discretionary and working capital accruals between suspected earnings management and non-earnings management firms. Evidence that discontinuities in earnings distributions may be attributable to earnings management activities is found where earnings levels and earnings changes are deflated by number of shares and market value of equity, both modified Jones and asymmetric BS discretionary accruals are significantly income increasing in suspected earnings management (EM) firms and income decreasing in non-EM firms. Scaling by total assets is not a suitable deflator in the South African context as it appears to affect the sign and statistical significance of the accruals metrics in the earnings levels before and after tax distributions. This result does not detract from the efficiency of kernel density estimation as it is attributable to the inefficiency of total accruals as a scalar in an emerging market environment. Furthermore, this research endorses Ball and Shivakumar’s (2006) (BS) finding that an asymmetric discretionary accruals model is more efficient in estimating discretionary accruals in all the distributions, irrespective of deflators. In addition, the results of this thesis show that, in an emerging economy, deferred tax is incrementally useful to modified- Jones and the asymmetric BS discretionary accruals in detecting earnings management. The implication of this result is useful to investors, auditors and regulators because deferred tax movements and its components are a visible and identifiable numbers in financial statements. Deferred tax expense can be used, instead of complicated discretionary accrual models, to identify evidence of earnings management. This means that the components of the deferred tax asset or liability accounts can be analysed to highlight unusual movements which may in turn, focus attention on unusual accruals. For researchers, this result has important implications. Kernel density estimation can be used to identify suspected earnings management firms which can be used to further research. The final chapter of this thesis explores whether investors price suspected earnings management and nonearnings management firms differently and finds that, in this South African sample, there is no difference in price levels or cumulative abnormal returns in suspected earnings management and non-earnings management firms. This result is in sharp contrast to Balsam, Bartov, and Marquardt (2002) and Baber, Shuping, and Sok-Hyong (2006) who report a negative association between unexpected discretionary accruals and cumulative abnormal returns and Keung, Lin, and Shih (2010) who find that investors react negatively to zero or small earnings surprises. To some extent the results of this section of the thesis supports the finding in Gavious (2007) that prices react to discretionary accruals only after the introduction of revised analysts’ forecasts.The finding in this thesis implies that investors in South Africa are unable to detect earnings management. This outcome should be viewed in the context of prior research that reports that the JSE may be inefficient (Bhana, 1995, 2005, 2010; Hoffman, 2012; Ward and Muller, 2012; Watson and Roussow, 2012) and may be attributed to the fact that there is no signal to investors that the quality of earnings may be questionable in the sample of suspected earnings management firms. All in all, the findings of this thesis indicate the existence of earnings management in listed companies in South Africa.
XL2018

M.Comm. (Financial Management)
Although general studies have been conducted on the agency problem, such studies have not focused on the relationship between executive remuneration and company performance. Many of the studies conducted abroad have focused on quantitative methods using regression analysis to understand the relationships between diverse financial performance measures and a variety of performance appraisal techniques. This study aims at establishing the relationship between executive remuneration and company financial performance on the basis of 20 of the largest companies listed on the Johannesburg Stock Exchange Ltd (JSE). It has been observed that JSE-listed South African companies have almost a standard governance framework for determining salary structures of CEOs and directors. Furthermore it can be seen that most performance-linked payouts for CEO's and directors are based on measurement criteria established which are based on actual performance levels achieved. For this reason, it may be concluded that short-term targets are crucial to keeping a business going, to ensure positive cash flows, manage working capital, and achieve year-on-year growth of revenues and profits. However, to ensure survival and sustainability of the business in the changing global and local environments, long-term strategies should be formulated and various steps should be taken by CEOs, supported by other executive and non-executive directors. This research focuses on short-term goals and their influence on executive remuneration for CEOs and CFOs. The performance measures selected for this study were revenues, profits, share price and net asset value. These performance measures selected are supported by the relevant academic literature. The results of this study reveal that CEOs and CFOs have received lower remuneration in the form of bonuses as a result of companies not achieving their short-term goals.

Research thesis submitted in partial fulfilment (50%) of the Degree of Master of Commerce University of the Witwatersrand, Johannesburg, Faculty of Commerce, Law and Management – School of Accountancy 2015
Executive remuneration has been under intense scrutiny by both investors and the media over the past 10 to 20 years because of the increasing magnitude of these remuneration packages (Otten, 2007; Sapp, 2007). This research report explores the relationship between executive director remuneration and the performance of publically listed companies (JSE) in South Africa, as well as ascertaining whether any relationship exists between director profiles and director remuneration. The study population comprised all South African companies listed on the JSE during 2014. The final sample consisted of 49 companies after the transformation of the data. A total of 708 director profiles were examined. The results of the study appeared to indicate a lack of correlation between executive director remuneration and company performance in publically listed South African companies. On the other hand, the results of the regression provided empirical support for the existence of a significant positive relationship between director remuneration and total assets. The results also illustrated that, in general, directors who are male over the age of 50 and who have served as directors for periods of between six to 10 years receive higher total remuneration compared to other classes of directors. It was also noted that race appeared not to play a role in director remuneration. Key words: Executive director remuneration, executive director profiles, company performance, ROA, Tobin’s Q
MT2017

M.Ing.
This report addresses an empirical study into the re-structuring of Transnet group of companies. The study is based on the outcome of the re-engineering process focusing on Spoornet as a member of Transnet. The departments partially studied are, the Infrastructure Maintenance department and Train Operations department with-in Spoornet. The objective of this study is to achieve a break-even point between maintenance and the business side so as to increase operational profit in Spoornet. Outsourcing is a management tool used to make more profit. It is also a way of getting rid of unwanted business units. This will help increase shareholder value and reduce operating costs so that management can focus on core business units. The results expected from outsourcing in this study are aligned with the business process engineering "BPR" results. From the BPR results the business units were classified as core and non-core business units. Non-core business units were discontinued while core business units were further classified into core department, which is the running of trains, and the non-core department as maintenance departments. The maintenance departments are fully represented on a functional level while they used to have a full representative on the corporate level before restructuring. Cutting-off these logistic support departments at a corporate level, can have an effect on maintenance being undermined due to lack of specialists input at a higher level in terms of systems engineering and maintenance. This can lead to system's lack of maintenance and an increase in systems failure, making the system un-reliable and unsafe for the passage of trains while on the other hand the business will be lost back to the competitors, who in this case is the road freight business. A case study is discussed in the dissertation where value added techniques such as the business turnaround process, outsourcing and Integrated Logistic Support "maintenance" were applied in this study.

Many theorists have linked dividends with the ability to carry signals regarding a firm’s expected financial performance. Despite being grounded on a sound theoretical framework, empirical evidence has failed to unanimously corroborate the dividend signalling hypothesis, with some authors resignedly concluding that dividends are the puzzle of finance literature. Recent empirical evidence has shown that limiting the dividend signalling hypothesis to earnings has contributed to that puzzle. To try and decipher the puzzle, this study extends the dividend signalling hypothesis to measures of financial performance seldom linked with dividend signalling such as liquidity and gearing. Using panel data regression models and data for 39 firms listed on the JSE from 1995 to 2016, the study reveal that when one controls for the mean reversion and autocorrelation of profitability, dividends lose the power to signal earnings. The results further show that managers in South Africa use dividends to signal expected changes in liquidity and gearing.
Business Management
M. Phil. (Accounting Sciences)

Text in English with abstracts in English, Afrikaans and isiZulu
Propelled by increased competition with the private sector and other similar organisations, the non-profit sector increasingly faces challenges to create meaningful interactions with stakeholders which, among other benefits, allow for differentiation and the creation of favourable and lasting impressions of the corporate brand. The main research aim of this study was to propose possible elements for a conceptual framework for the integration of non-profit organisations’ social media brand communication. The point of departure was that the achievement of a favourable corporate brand in the non-profit sector could, inter alia, be realised by following an integrated communication approach when utilising social media to communicate with stakeholders. The study is different from prior studies because of its specific interdisciplinary focus on the corporate brand, social media and integrated communication (IC), and the fact that it is merged into one study. The research into the main contribution of the study was based on a thorough literature review focusing on the following objectives: to explore corporate branding and social media; and to describe elements that could constitute an integrated approach to social media brand communication. During the investigation into the topic, the social media focus of the study was framed on the basis of classical theoretical views, and the theory of and perspectives on human action, symbolic interaction and social presence. The absence of a single set of theoretical assumptions of social media necessitated an inductive reasoning process based on identified key elements of social media. Subsequent to the literature review, the empirical research gathered invaluable insights from communication professionals in South African non-profit organisations, and who are responsible for communication by means of social media. Finally, and following the measurement of the proposed elements, the objective of proposing possible elements for the integration of social media brand communication and presenting it in a conceptual framework was achieved. The conceptual framework was based on three foundational principles, namely a corporate brand focus and a philosophy of communication integration, underpinned by social media. The proposed conceptual framework should provide new insights into and contribute to the existing body of knowledge on organisational communication.
Toenemende mededinging in die privaatsektor en tussen ander soortgelyke organisasies, rig ‘n grotewordende uitdaging aan die niewinsgerigte sektor om betekenisvolle wisselwerking met belangegroepe te bewerkstellig, iets wat dit onder andere moontlik maak om te differensieer en om gunstige en blywende indrukke van die korporatiewe handelsmerk te skep. Die belangrikste navorsingsoogmerk van hierdie studie was om moontlike elemente aan die hand te doen vir ʼn konsepsuele raamwerk vir die integrasie van niewinsgerigte organisasies se kommunikasie in sosiale media. Die vertrekpunt was dat ʼn gunstige korporatiewe handelsmerk in die niewinsgerigte sektor onder andere gerealiseer kan word deur middel van ʼn geïntegreerde kommunikasiebenadering wanneer sosiale media gebruik word om met belanghebbendes te kommunikeer. Die studie verskil van vorige studies weens die spesifieke interdissiplinêre fokus op die korporatiewe handelsmerk, sosiale media en geïntegreerde kommunikasie, asook die feit dat dit in een studie geïntegreer is. Die navorsing vir hierdie studie se belangrikste bydrae was gegrond op ʼn deurtastende literatuuroorsig, toegespits daarop om die gebruik van korporatiewe handelsmerke en sosiale media te verken; en om elemente wat ʼn geïntegreerde benadering tot handelsmerkkommunikasie in sosiale media sou kon daarstel, te beskryf. Gedurende die ondersoek na die tema het die studie se sosialemediafokus gerus op klassieke teoretiese sienings en die teorie van en perspektiewe op menslike aksie, simboliese wisselwerking en sosiale teenwoordigheid. Die gebrek aan ʼn enkele stel teoretiese aannames van sosiale media het ʼn proses van induktiewe redenering, gegrond op geïdentifiseerde sleutelelemente van sosiale media, genoodsaak. Voortspruitend uit die literatuuroorsig het die empiriese navorsing uiters waardevolle insigte bekom van kommunikasiekundiges in Suid-Afrikaanse niewinsgerigte organisasies wat deur middel van sosiale media moet kommunikeer. Laastens en na afloop van die meting van die voorgestelde elemente is die oogmerk om moontlike elemente vir die integrasie van kommunikasie van ʼn handelsmerk in sosiale media en die aanbieding daarvan in ʼn konsepsuele raamwerk, bereik. Die konsepsuele raamwerk is op drie beginsels gegrond, naamlik ʼn fokus op die korporatiewe handelsmerk en ʼn filosofie van kommunikasieintegrasie, ondersteun deur sosiale media. Die voorgestelde konsepsuele raamwerk behoort nuwe insigte in en bydraes tot die bestaande kenniskorpus oor organisasiekommunikasie te bied.
Ngokugqugquzelwa ukwanda kokuncitisana kwemikhakha ezimele nezinye izinhlangano ezifanayo, umkhakha ongenzi inzuzo uyaqhubeka njalo nokubhekana nezinselelo zokwenza ukuthi ukuxhumana kahle nabanye ababambe iqhaza okuwukuthi, phakathi kokunye okungazuzwa, kuvumele ukwahlukaniswa kanye nokwakhiwa kwezimpawu zemifanekiso yenkampani ezikahle futhi eziyohlala isikhathi eside. Injongo enkulu yocwaningo lwalesi sifundo kwakuwukuhlongoza imikhakha engaseyenzeke yohlaka olungakapheleli lokuhlanganiswa kophawu lokuxhumana ezinkundleni zokuxhumana zezinhlangano ezingenzi inzuzo. Iphuzu elalisemqoka kwakuwukufeza umgomo wokuthi kwakhiwe uphawu olufanele lwenkampani emkhakheni ongayenzi inzuzo, phakathi kwezinye izinto, ufezeke ngokulandela indlela edidiyelwe yezokuxhumana uma kusetshenziswa izinkundla zokuxhumana ukuxoxisana nababambe iqhaza. Lesi sifundo sihlukile kwezinye esezike zenziwa ngaphambilini ngenxa yokuthi sigxile ngokukhethekile ekusetshenzisweni kophawu lwenkampani, izinkundla zokuxhumana kanye nezindlela zokuxhumana ezididiyelwe, i-integrated communication (i-IC), kanye nephuzu lokuthi kudidiyelwe kwaba ucwaningo olulodwa. Lolu cwaningo kulokho okusemqoka okuwumthelela walesi sifundo lwalugxile kakhulu ekubuyekezweni okujulile kwemibhalo kubhekwe kakhulu kulezi zinjongo ezilandelayo: ukuhlaziya uphawu lwenkampani nezinkundla zokuxhumana; nokuchaza amaphuzu angase akhombise indlela edidiyelwe ekuxhumaneni ngophawu lwezinkundla zokuxhumana. Ngesikhathi kuphenywa ngesihloko, ukugxila ezinkundleni zokuxhumana kulesi sifundo kwabalulwa esizindeni semibono yezinto ezingaphatheki, kanye nethiyori nemiqondo yokwenza komuntu, ukuxhumana ngezimpawu nokubakhona kwabantu basemphakathini. Ukungabibikho kweqoqo elilodwa lokucatshangelwa ngokwenzeka emiqondweni ngokwezinkundla zokuxhumana kwenza ukuthi kube nesidingo senqubo yokuqala ukucabanga ezinze emaphuzwini asemqoka ezinkundla zokuxhumana. Ukulandela ukubuyekezwa kwemibhalo, lolu cwaningo oluphethe ubufakazi obuphathekayo luqoqe ulwazi olusemqoka oluvela kosolwazi bezokuxhumana ezinhlanganweni ezingenzi nzuzo zaseNingizimu Afrika, futhi ezinomsebenzi wokuxhumana ngokusebenzisa izinkundla zokuxhumana. Ekugcineni, futhi ngokulandela izilinganiso zamaphuzu ahlongozwayo, yafezeka injongo yokuhlongoza okungase kube amaphuzu okudidiyela ukuxhumana ngokusebenzisa uphawu lwezinkundla zokuxhumana kanye nokuluveza njengohlaka lokusemqondweni. Uhlaka lokusemqondweni lwalugxile emigomeni eyisisekelo emithathu, okuwukugxila kuphawu lwenkampani nenzululwazi yokudidiyelwa kokuxhumana, nokusekelwe yizinkundla zokuxhumana. Uhlaka olusahlongozwa olungakapheleli kumele luhlinzeke ngemiqondo emisha futhi lube nomthelela esakhiweni solwazi esikhona ekuxhumaneni ngokwenhlangano.
Communication Science
D. Litt. et Phil. (Communication)

This study aimed to assess the determinants and deterrents of profit shifting, which can occur as a result of corporate income tax competition, with a view to aid in collecting sufficient tax revenue to meet public spending requirements. The study theoretically and empirically analysed the effectiveness of the introduction of the South African transfer pricing regulations on deterring the occurrence of profit shifting in South Africa using annual financial information of South African parented multinational enterprises for the period 2010 – 2017. The study established that the implementation of transfer pricing regulations resulted in a reduction in profit shifting that became increasingly more prominent as the rules became stricter. Based on the findings of the study, it is recommended that the South Africa government should allocate sufficient resources to ensure that the transfer pricing regulations are being adhered with an aim to reduce profit shifting from South Africa.
Economics
M. Com. (Economics)

South African company law is currently the object of comprehensive review. One o f the areas under scrutiny is that of corporate governance. Control over management is vital in the interests of the company itself, its shareholders and its creditors. Effective accountability should be balanced against the need to allow those who manage a certain measure of freedom and discretion in the exercise of their function. Company directors are subject to various duties. This thesis concentrates on their fiduciary obligation. It is suggested that this sui generis obligation is owed to the company as a separate entity. Interests of other groups may sometimes merit con­ sideration. Against the background o f a com parative investigation, a "corporate opportunity" is defined as any property or economic opportunity to which the com­ pany has a claim. South African law protects a company’s claim to an opportunity if it is in the company’s line of business and if the company has justifiably been relying upon the director(s) to acquire it or to assist in its acquisition for the company. The application of established fiduciary principles suffice to resolve corporate opportunity matters. Essentially the application o f these rules amount to a determination whether the director has complied with his fundamental duty to act in the company’s best interests. There seems to be no need for a separate doctrine of corporate opportunities.' A director should only be absolved from liability on account of the company’s inability to pursue an opportunity or its rejection by the company if there was no real conflict of interest. The appropriation of corporate opportunities should not be ratifiable, both because the ratification constitutes a fraud on the minority, and because the decision to ratify cannot be regarded as being in the interests of the company. The relationship between the appropriation of corporate opportunities, misuse of confidential information and competition is investigated. These aspects fre­ quently overlap, but should be distinguished because their bases, and accordingly their appropriate remedies, may differ. Effective control may benefit by a restatement of directors’ fiduciary duties in the Companies Act. To this end certain amendments to the Act are recommended.
Mercantile Law
LLD

Mr Justice Corbett made a substantial contribution to the South African tax law as he delivered several judgements during his long career on the bench. Starting from the lower ranks as a judge he became Chief Justice of South Africa. Precedents set by his judgements are considered important and indicative of the level of South African tax law. This dissertation observes his background, looks at the operations of the tax court in South Africa and examines whether his judgements were cited and applied in subsequent cases as accepted precedent. International case law is referred to, to compare his judgements with comparable international tax law.
Auditing
M. Comm. (Accounting)

In recent years the ideas of good governance and the responsibility of corporate South Africa to contribute to the society in which they operate have become an undeniable part of organisational conception. Indeed, South Africa is considered to be a leader in the field of corporate governance internationally. Forming part of governance practices is Corporate Social Investment (CSI) whereby corporate organisations contribute to causes and societal groupings in need of financial and other assistance. Among these societal groupings that receive support from CSI activities are non-profit organisations (NPOs) that rely on funding from their corporate donors for survival. Based on the exchange of funding and a shared attempt at social development, a relationship between the two parties emerges. From the perspective of the stakeholder theory, corporate organisations, through their CSI activities, and NPOs are stakeholders of each other and a positive relationship between them could strengthen their individual and collective goals. This study explored and described the relationship between corporate donors and recipient NPOs in order to understand the state of the relationship and to critically consider the way in which the relationship is defined, described and measured. First, the relationship was explored by means of partially structured interviews based on well-known relationship indicators where it appeared that the relationship is not only fraught with negative perceptions from both sides, but also where the relationship indicators used to explore the relationship were not entirely suited for the specific context of this relationship. The negative perceptions and inappropriate relationship indicators formed the basis of a theoretical inquiry of literature on CSI, stakeholder relationships and participatory development communication. Subsequently, the partially structured interviews and the literature review informed the design of two corresponding survey questionnaires that could test both findings quantitatively. The results of validity and reliability testing confirmed the qualitative finding that a contextualised measurement is suited for this relationship. A mix of existing and newly formulated items grouped in contextual elements and redefined relationship indicators was used to describe the relationship. A combined analysis of qualitative and quantitative results indicated that the relationship is not as negative as the qualitative research might have suggested (possibly a result of contextualised measurement); but that very specific relational challenges are present and it is suggested that these challenges need a realistic approach of which accurate description is a starting point. The research contributes twofold with the first contribution being a clearer understanding of the relationship between corporate donors and recipient NPOs and the second being a set of redefined and contextualised relationship indicators with which to define and measure this relationship.
PhD (Communication Studies), North-West University, Potchefstroom Campus, 2014

Theorists and management in the South African non-profit sector agree that strong stakeholder relationships are essential in negotiating the challenges faced by the South African non-profit sector. Despite the acknowledgement from the non-profit sector that strong relationships are key to achieving organisational goals, there is an apparent lack of knowledge and strategic thinking amongst them pertaining to the concept of stakeholder relationship management. Against this background the purpose of this study was therefore to develop a metamodern model for stakeholder relationship management, aimed specifically at the South African non-profit sector, that could be implemented by NPO management in a practical manner. The blurring lines between the opposing views of modernism versus postmodernism motivated the choice of metamodernism as a relevant worldview for this study. Metamodernism does not imply a balance between these poles, but rather a constant swinging of the pendulum during which metamodernism negotiates between modernism and postmodernism. It is the construction of a workable, interrelated worldview, recognising the intimate relationship between modernism and postmodernism. It was therefore concluded that a metamodern worldview in which both modernism and postmodernism feature, would not only make it possible for nonprofit organisation managers to understand and join the discussion on stakeholder relationship management, but also to implement the proposed metamodern stakeholder relationship management model. The resultant metamodern stakeholder relationship management model for non-profit organisations is framed by so-called modernistic communication and stakeholder relationship management theories, but it was done in line with the metamodern worldview of the study, allowing for initiative and innovation. The flexible, organic and cyclic nature of the proposed model echoes this worldview. A qualitative, exploratory and interpretative research design was implemented to test a conceptual framework and face-to-face semi-structured interviews were conducted with senior management in the non-profit sector. The design of the framework and subsequent model was guided by a number of assumptions and propositions arising from a thorough literature review, all of which were supported and confirmed by the research results. The most significant contribution of the study is the application of a metamodern worldview emanating from a reluctance to choose between a modern or postmodern stance when discussing communication science and stakeholder relationship management practices. It is therefore foreseen that it would offer the field of communication science new and creative means of combining modernism and postmodernism approaches when studying communication phenomena. It will also expand the responsibility for communication and stakeholder relationship management beyond that of the communication specialists to senior management in the non-profit sector.
Communication Science
D. Litt. et Phil. (Communication)