Download or read book Examining the Impact of Strategic Outlook on Financial Performance of South African JSE Listed Firms written by Mandira Soomeer and published by . This book was released on 2015 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Broad Based Black Economic Empowerment on the Financial Performance of Companies Listed on the JSE written by Ashley Mathura and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research is aimed at finding empirical evidence to support the relationship between Broad-based Black Economic Empowerment (BBBEE) compliance and the financial performance of South African companies on the JSE. An independent measure of the BEE score was obtained from the Empowerdex Top Empowerment Companies (TEC) ranking from 2004 to 2009. 14 sectors on the JSE were selected to ensure inclusion of all major industries in South Africa. A total of 209 companies were selected, and the multivariate exploratory technique of Cluster Analysis was used. The predictor variable of the company's BEE status was then compared to a number of financial performance indicators such as annual share price, price-tobook value ratio and the price-to-earnings ratio (i.e. the outcome variables). By standardising the variables of the BEE score and using Compound Annual Growth Rate (CAGR), the k-means Clustering method yielded four interpretable clusters with 15, 64, 95 and 35 companies respectively. The finding indicate that only in the case of the cluster of companies that increased it's BEE score, were all three profitability measures significantly different and, according to the means, in the direction of higher profitability. However, there were no significant differences in the results to support the proposition that low-BEE scores of companies had a negative impact on their profitability and their firm's value over time.

Download or read book Strategic Orientation Antecendents and Impact on Financial Performance in South African Pharmaceutical Companies written by Tamsanqa Dube and published by . This book was released on 2015 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Concepts Used by JSE Listed Companies in Strategy Formulation and Implementation and Its Effect on Financial Performance written by Marelize Lintvelt and published by . This book was released on 2013 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Relationship Between Strategic Change and Firm Performance in JSE Listed Firms in South Africa written by Mogisen Iyer and published by . This book was released on 2017 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Rights Issues Announcements on Share Price Performance in South Africa written by Paul Jonathan Mark Cotterell and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Rights issues are an area of much interest and research globally. With the last significant local study on the topic conducted in 2005, this paper updates the findings based on more recent data. This is also the first study to explore the impact that the company's financial position has on the share price reaction to the announcement. The study was conducted by analysing rights issue announcements occurring on the JSE between 1st January 2001 and 31st December 2010. 35 events were used in this study since they met the criteria for clean measurement. A standard event study methodology was used. Abnormal returns were measured through both the market model and control portfolio, with the Altman Z Score utilised as a measure of the issuers' financial position. Statistical analysis was conducted throughout to confirm significance. Average Abnormal Returns of -2.33% and -3.30% were found on the day of the announcement, depending on the model used, and Cumulative Average Abnormal Returns (CAARs) for five days post the announcement were between -5% and -6%. Of most interest, share price reactions were found to differ, with statistical significance, according to the financial position of the issuer. Companies categorised as healthy recovered from the initial decline to a CAAR of less than -1% twenty days post the announcement. In contrast companies categorised as unhealthy and in the grey zone suffered CAARs after the same period of -9.17% and -8.06% respectively. The conclusion of the study is that the well-researched share price decline on the announcement of a rights issue persists, but that this reaction is significantly worse for companies in a poor financial position, as measured by their Altman Z Score.

Download or read book Growth and Strategies of Large and Leading Firms Top 50 Firms on the Johannesburg Stock Exchange written by Teboho Bosiu and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The orientation and investments of large and lead firms can shape the patterns of industrial development and growth in a country. It is thus important to understand the investment decisions of large firms and how they relate to policy in terms of building productive capacity in the South African economy. This study assesses the investment decisions and strategies of the largest 50 firms listed on the Johannesburg Stock Exchange (JSE) (by market capitalisation) as they relate to industrial development in South Africa. The assessment is based on an analysis of publically available annual reports and announcements for listed firms. A key finding is that while there has apparently been considerable changes in the composition of the top 50 the very large firms (in the top 20) have largely retained their positions ranked by market capitalisation. The assessment also shows that while firms have shown significant profitability, they have retained significant portions of profits within their organisations. The majority of the retained profits are being held as reserves as opposed to being reinvested such that total reserves held stood at R1.4 trillion by 2016. Investments that have been undertaken largely comprise expenditure on replacement capital and mergers and acquisitions, rather than expansionary expenditure. There is a high degree of internationalisation by South African firms, with the majority of merger and acquisition deals being concluded outside South Africa.

Download or read book The Impact of Reported Corporate Governance Disclosure on the Financial Performance of Companies Listed on the JSE Securities Exchange South Africa written by Andrew Abdo and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review Analysis and Outlook written by World Bank and published by World Bank Publications. This book was released on 2006-01-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International private capital flows to developing countries reached a record net level of $491 billion in 2005. This surge in private capital flows offers national and international policy makers a major opportunity to bolster development efforts if they can successfully meet three challenges. The first is to ensure that more countries, especially poorer ones, enhance their access to developmentally beneficial international capital through improvements in their macroeconomic performance, investment climate, and use of aid. The second is to avoid sudden capital flow reversals by redressing global imbalances through policies that recognize the growing interdependencies between developed and developing countries' financial and exchange rate relations in the determination of global financial liquidity and asset price movements. And the third is to ensure that development finance, both official and private, is managed judiciously to meet the development goals of recipient countries while promoting greater engagement with global financial markets. These are the themes and concerns of this year's edition of Global Development Finance. Vol I. Anlaysis and Statistical Appendix reviews recent trends in financial flows to developing countries. Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups."

Download or read book Integrated Reporting written by Chiara Mio and published by Springer. This book was released on 2016-08-11 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a timely addition to the fast-growing international debate on Integrated Reporting, which offers a holistic view of the evolution and practice of Integrated Reporting. The book covers the determinants and consequences of Integrated Reporting, as well as examining some of the most relevant issues (particularly in the context of the United States) in the debate about Integrated Reporting.

Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Routledge Companion to Intellectual Capital written by James Guthrie and published by Taylor & Francis. This book was released on 2017-09-22 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Companion to Intellectual Capital offers a comprehensive overview of an important field that has seen a diverse range of developments in research in recent years. Edited by leading scholars and with contributions from top academics and practitioners from around the world, this volume will provide not just theoretical analysis but also evaluate practice through case studies. Combining theoretical and practice perspectives, this comprehensive Companion addresses the role of IC inside and between organisations and institutions and how these contribute to the IC of nations, regions and clusters. Drawing on an extensive range of leading contributors,The Routledge Companion to Intellectual Capital will be of interest to scholars who want to understand IC from a variety of perspectives, as well as students who are seeking an authoritative and comprehensive source on IC and knowledge management.

Download or read book Capitalism Corporations and the Social Contract written by Samuel F. Mansell and published by Cambridge University Press. This book was released on 2013-03-14 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Samuel Mansell critiques the principles of stakeholder theory, proposing instead a qualified version of Friedman's shareholder theory.

Download or read book Valuation of Corporate Growth Opportunities written by Richard E. Ottoo and published by Taylor & Francis. This book was released on 2000 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

Download or read book Foundations of Financial Management written by Errol Velleman and published by AFRICAN SUN MeDIA. This book was released on 2007-07-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication introduces the user to the financial statements of the most simplistic type of business, and then progressively explains the functions of financial statements relating to more complex organisations. Some very basic theoretical aspects of bookkeeping and accounting are also discussed to enable the business manager to understand and appreciate these functions in the business environment.

Download or read book Stakeholder Theory written by Abe J. Zakhem and published by . This book was released on 2008 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This valuable collection of essential articles from the most prominent authors in the field serves as the standard reference source for research into stakeholder theory--the dominant framework for analyzing ethical issues within the field of business ethics.

Download or read book Exchange Rate Flexibility and Credit during Capital Inflow Reversals written by Mr.Nicolas E. Magud and published by International Monetary Fund. This book was released on 2014-04-16 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associated with milder credit growth during the boom but, even though smaller than in more rigid regimes, it cannot shield the economy from a credit reversal. Furthermore, we observe what we dub as a recovery puzzle: credit growth in economies with more flexible exchange rate regimes remains tepid well after the capital flow reversal takes place. This results stress the complementarity of macro-prudential policies with the exchange rate regime. More flexible regimes could help smoothing the credit cycle through capital surchages and dynamic provisioning that build buffers to counteract the credit recovery puzzle. In contrast, more rigid exchange rate regimes would benefit the most from measures to contain excessive credit growth during booms, such as reserve requirements, loan-to-income ratios, and debt-to-income and debt-service-to-income limits.