Download or read book A Strategic Approach in Managing Shareholders Wealth for Companies Listed on the JSE Securities Exchange South Africa written by Johannes H. v. H. (Johannes Hendrik van Heerden) De Wet and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: For a number of years there has been a growing awareness of the importance of shareholder value for financial strategy and management. At the same time, there has been growing concern that the traditional accounting measures of performance have serious inherent limitations that may lead to poor financial decision-making. This study starts off by providing an overview of the main accounting earnings-based measures, as well as the most important criticisms leveled against them. The concepts of Economic Value Added (EVA) and Market Value Added (MVA), which are currently regarded as the most important indicators of shareholder value and financial performance, are examined, along with some research evidence supporting them (and other evidence opposing them). Various aspects of EVA and MVA are discussed, including different ways of calculating them, and their link to other financial concepts such as net present value (NPV) and operating and financial leverage. After a discussion of the main drivers of EVA, namely the Return on Invested Capital (ROIC), the weighted average cost of capital (WACC), the performance spread and the invested capital (IC), the financial strategy matrix is introduced. The financial strategy matrix has been used in this study to evaluate companies in terms of internal value creation (performance spreads) and cash flow management (sales growth compared to the sustainable growth rate). A selection of companies listed on the JSE was ranked according to their relative performance in terms of internal value creation (performance spreads) and the results of some individual companies and sectors were placed on the financial strategy matrix. The statistical tests done on the data have indicated that the sales growth minus the sustainable growth rate does not contribute significantly to shareholder value and an alternative variable was recommended. Further tests have revealed that significant correlation between MVA and EVA could only be found if the median results over a ten-year period were used. The correlation between MVA and the main drivers of EVA was found to be weak on a year-on-year basis. It is hoped that the results and perspectives gained from this study will be helpful to financial managers who aim to optimize their approach to shareholder value management.
Download or read book A Strategic Approach in Managing Shareholders Wealth for Companies Listed on the JSE Securities Exchange South Africa written by Johannes Hendrik van Heerden De Wet and published by . This book was released on 2004 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Information Processing and Accounting Standards written by Joseph Olorunfemi Akande and published by Springer Nature. This book was released on with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A strategic approach in managing shareholder wealth for listed companies written by Johannes de Wet and published by . This book was released on 2008 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance in South Africa written by Warren Maroun and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-04-20 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an examination of corporate governance in South Africa which includes an overview of the history of corporate governance and summary of the key provisions of South Africa’s codes on corporate governance from 1994 to 2016. The aim is to provide a comprehensive reference for academics and practitioners interested in South African corporate governance and to illustrate how corporate governance practices evolve in a developing African economy. It also includes a review of the research dealing with the drivers and consequences of South African corporate governance. The focus is on South African-specific research which is complemented with international references. This book will be highly relevant to both accounting/governance academics and the broader practitioner community.
Download or read book McGregor s Johannesburg Stock Exchange Digest written by and published by . This book was released on 1999-05 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Governance Structures in African Securities Exchanges written by Samuel O. Onyuma and published by Notion Press. This book was released on 2023-10-09 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demutualization is the transformation of a securities exchange governance structure from a mutual association of stockbrokers operating as not-for profit entity into a for-profit company accountable to its shareholders. It has become a widespread phenomenon – one with increasing appeal in developed markets. It challenges the traditional approach to regulation of securities exchanges and raises issues regarding their role in capital markets regulation. In spite of its popularity as a strategy for catalysing securities exchange development in emerging economies, its pace in Africa has been excruciatingly very slow. African securities exchanges therefore remain underdeveloped compared to their peers in other emerging markets. So, how can African securities exchanges facing the challenge of integration and better technical and institutional development address the problem of underdevelopment through demutualization? This book explains how demutualization can enable greater and swifter securities market development in Africa; the role government regulators should play in demutualization of exchanges in African countries; the right self-regulatory model applicable to African exchanges; effective management of conflicts of interest and other barriers to separation of ownership from management and trading rights; types of investments needed to enhance the effectiveness of African’s capital market; and how securities exchange demutualization can facilitate African countries destiny to become leading capital markets globally.
Download or read book Management Share Ownership written by Christian Alexander Wegener and published by GRIN Verlag. This book was released on 2011-01-31 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Business economics - Investment and Finance, grade: sehr gut, University of Münster (Finance Center Münster), language: English, abstract: Many scholars have analyzed whether and how management share ownership should be used in terms of a corporate governance instrument to enhance corporate performance. The empirical results, however, have been inconclusive till this day. This seminar paper attempts to explain the problems and difficulties that underlie the obscurity and how researches might eventually unravel this challenge.
Download or read book Who Owns Whom written by R. McGregor and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 1118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thirteenth edition of McGregor's Who Owns Whom presents a summary of the annual report of every company listed on the Johannesburg stock exchange, plus those on the stock exchanges of Harare, Windhoek and Gaberone. For each company, the data presented include: ultimate controlling shareholder, shareholders above 1%, directors, addresses of registered offices, nature of business, year end, number of employees, capital structure, financial statistics and ratios, subsidiaries, associated companies and investments. Comprehensive indexes reveal the ownership of approximately 16,000 companies, the share portfolios of major S.African investors, and the cross-directorships of 4000 directors of listed companies. Detailed schedules provide additional data including newly listed companies, companies recently delisted, companies categorised by sector, companies listed by financial year end, company name changes, unit trusts, mines working results, and much more.
Download or read book Fair Shares written by Jonathan Charkham and published by OUP Oxford. This book was released on 1999-05-27 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about shareholders — who they are, what they own, how their composition and character has changed, and with it their relationship with the companies they own. It is also a book about shareholder rights and responsibilities. In a clear and readable style the book explores the key current corporate governance issues — company law and reporting, chief executive pay, regulatory and accountability requirements — against the background of an ever-changing business environment: an environment in which private investors may have grown in number, but in which shareholders influence has dwindled as institutions have become the dominant shareholding group. Throughout the book the authors provide numerous examples and anecdotes illustrating the evolution of the joint stock company from the South Sea Company of the 18th century to the giants and cause celebres on the corporate stage in the 1980s and 1990s. Both authors are authoritative and informed commentators on issues of corporate governance with extensive management, policy and advocacy experience; their underlying concern is to show the importance of shareholder interest and involvement, which they strongly believe will remain in the best interests of the company and the wider society in the 21st century.
Download or read book Who Owns Whom in South Africa written by and published by . This book was released on 2006 with total page 1226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Who Owns Whom written by R. McGregor and published by Springer. This book was released on 1993-04-30 with total page 1088 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thirteenth edition of McGregor's Who Owns Whom presents a summary of the annual report of every company listed on the Johannesburg stock exchange, plus those on the stock exchanges of Harare, Windhoek and Gaberone. For each company, the data presented include: ultimate controlling shareholder, shareholders above 1%, directors, addresses of registered offices, nature of business, year end, number of employees, capital structure, financial statistics and ratios, subsidiaries, associated companies and investments. Comprehensive indexes reveal the ownership of approximately 16,000 companies, the share portfolios of major S.African investors, and the cross-directorships of 4000 directors of listed companies. Detailed schedules provide additional data including newly listed companies, companies recently delisted, companies categorised by sector, companies listed by financial year end, company name changes, unit trusts, mines working results, and much more.
Download or read book Business and Human Rights Law and Practice in Africa written by Olawuyi, Damilola S. and published by Edward Elgar Publishing. This book was released on 2022-09-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book provides a comprehensive analysis of good-fit and home-grown approaches for advancing business and human rights norms across Africa. It explores the latest developments in law, regulations, policies, and governance structures across the continent, focusing on key legal innovations in response to human rights impacts of business operations and activities.
Download or read book McGregor s who Owns Whom in South Africa written by and published by . This book was released on 2000 with total page 1470 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2007 with total page 790 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The JSE Handbook written by and published by . This book was released on 1999 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Incidences of Listing Suspension by the JSE Securities Exchange of South Africa written by Musa Mangena and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, we examine the association between corporate governance structures and incidences of listing suspension from the JSE Securities Exchange of South Africa (JSE). Using a matched-pairs research design, we compare 81 firms suspended between 1999 and 2005 to an equal number of control firms matched in terms of time, size and industry. Employing a conditional logistic model, we find that the likelihood of suspension is higher in firms with a smaller proportion of non-executive directors, without an audit committee, with greater block share ownership and higher gearing. Further analysis of block share ownership into institutional and non-institutional investors provides mixed results. While we find a positive association between suspension and non-institutional investors, we observe no association with institutional investors. No association is detected for board size, role duality, directors' share ownership, auditor quality and return on assets. Given the paucity of studies examining listing suspension from stock exchanges and corporate governance mechanisms, these findings contribute to the literature. Additionally, the dearth of research on corporate governance in developing countries suggests that our findings have important implications for policy-makers in these countries as they endeavour to improve corporate governance.
