More than one-third of US-listed companies had all-male corporate boards in 2015. Quotas are discussed as policy levers to increase gender diversity, but there is much controversy whether they can increase female representation without harming organizational outcomes. Using the passage of a California law in 2018 that required the presence of at least one woman on corporate boards by the end of the following year, in the first chapter of my dissertation I estimate the effects of gender quotas on firm performance. I find the quota reduced the share of all-male boards by thirty percentage points within one year, with no reductions in operating performance, firm values, or shareholder returns within three years. These results question why all-male boards were prevalent prior to the legislation. I find that women directors are less likely to possess top-level experience and employment connections with corporate executives, which both appear as viable explanations. These findings provide insight on why women continue to lack representation in corporate leadership. Non-compete agreements are provisions within employment contracts that prevent workers from joining competing firms. They are prevalent in the US workforce, with 38% of workers having signed such clauses at some point in their careers. Despite their vast usage, there is limited research on the incentives for workers and firms to use non-compete agreements. In the second chapter, we show that non-compete agreements can create one market failure – inefficient lack of job separation – while mitigating a separate market failure – inefficient provision of industry-specific investment by firms. The model yields the predictions that (i) non-compete agreements are more likely to be used in industries where employer training is more "general" and (ii) non-compete signers have longer job tenures and receive more firm-provided investment relative to similar workers without non-compete agreements. Using newly-released panel data on the usage of non-compete agreements from the NLSY97, we confirm the model's predictions. Non-compete signers are more concentrated in knowledge-intensive industries and remain with their employers for 3 more months than individuals without such agreements. Non-compete signers also receive more employer-provided investment, but do not experience higher wage growth. Non-compete agreements are provisions within employment contracts that prevent workers from joining competing firms. In the third chapter, using the Current Population Survey, 18 state-level non-compete policy changes between 1992-2014, and hand-collected data on workers exempt from non-compete enforcement, I study the effects of non-compete regulation on labor market outcomes using a triple-differences research design. I find that a standard deviation increase in non-compete enforcement raises hourly wages by 3-7%, with larger gains for job leavers than job stayers. Non-compete enforcement is not associated with job mobility, unemployment, or labor force participation decisions. The findings are interpreted through the lens of an incomplete contracting model. Under the model’s assumptions, non-compete agreements mitigate the market failure of underprovided firm-sponsored general training, thus increasing the worker’s productivity. The extent to which the worker is compensated for this increase in productivity depends on labor market competition at the time of contracting. The fact that increased enforcement raises the wages of job leavers more than job stayers is consistent with the model’s predictions.

Submitted by Elba Lopes (elba.lopes@fecap.br) on 2018-01-23T20:52:49Z No. of bitstreams: 2 ELISABETE_RODRIGUES_MAXIMO.pdf: 1479656 bytes, checksum: 768abf52877590f1539557e0ed600fb8 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Made available in DSpace on 2018-01-23T20:52:49Z (GMT). No. of bitstreams: 2 ELISABETE_RODRIGUES_MAXIMO.pdf: 1479656 bytes, checksum: 768abf52877590f1539557e0ed600fb8 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2015-08-25 / Research about Corporate Governance has been mainly based on the Firm theory. However, the literature has appointed the need for including a new approach in this context: the behavioral one, making the analysis more complete, and being more effective, for companies to be more sustainable, ethical and clear. Therefore, they can reach better results, as well as contribute positively for society. In this situation, this research was made. The main tool of Governance was studied in this work: the Board of Directors, under the behavioral perspective: the analysis of diversity, through the following dimensions: age, academic degree, genre and culture (concerning nationality). The aim was to investigate the relationship between the diversity in the Board and the Market value of companies, by means of Tobin??s Q. The analysis of the diversity impacts in performance was made through two models: i) diversity index (composed of the four dimensions mentioned before), and ii) dimensions as isolated variables. The sample was composed of 90 companies listed in the 2012 edition of Anu??rio de Governan??a Corporativa da Revista Capital Aberto, as the ones with more liquidity traded in BM&FBOVESPA. The data are secondary, and the analysis considered 2012 and 2013. This was a quantitative study, through the Multiple Linear Regression Model, estimated by the Ordinary Least Square Method (OLS). The statistic results were not consistently significant for the regressions. So, it was not possible to reach the hypotethical conclusion that a bigger diversity could lead to a bigger Market value for companies. / O estudo da Governan??a Corporativa tem sido realizado predominantemente com base na Teoria da Firma. Contudo, a literatura tem indicado ser necess??rio a inclus??o de uma nova abordagem, a comportamental, tornando a an??lise completa e colaborando mais efetivamente para que as empresas sejam mais sustent??veis, mais ??ticas, mais transparentes, e por conseguinte alcancem melhores desempenhos e contribuam positivamente para a sociedade. Esta disserta????o se insere neste contexto, estuda o seu principal mecanismo, o conselho de administra????o, sob a perspectiva comportamental; an??lise da diversidade representada pelas dimens??es: idade, forma????o acad??mica, g??nero e cultural (em termos de nacionalidade).O objetivo ?? investigar a rela????o entre a diversidade no conselho e o valor de mercado das empresas, medido pelo Q de Tobin. A an??lise dos impactos da diversidade no desempenho ser?? realizada por dois modelos: i) ??ndice de diversidade (composto pelas quatro dimens??es mencionadas), e ii) as dimens??es como vari??veis isoladas. A amostra ?? composta por noventa empresas listadas na edi????o de 2012 do Anu??rio de Governan??a Corporativa da Revista Capital Aberto, como as mais l??quidas com a????es negociadas na BM&FBOVESPA. Os dados s??o secund??rios e os per??odos de an??lise os anos de 2012 e 2013. O estudo ?? de natureza quantitativa utilizando-se de Modelo de Regress??o Linear M??ltipla estimada pelo m??todo dos M??nimos Quadrados Ordin??rios (MQO). N??o se obteve signific??ncia estat??stica de forma consistente nas regress??es realizadas, motivo pelo qual n??o ?? poss??vel ser conclusivo acerca da hip??tese de que uma maior diversidade leva a um maior valor de mercado das empresas.

Mercados financeiros e finanças corporativas / Submitted by Cristiane Shirayama (cristiane.shirayama@fgv.br) on 2011-05-19T18:56:35Z No. of bitstreams: 1 61080100022.pdf: 712879 bytes, checksum: 317762f58b96ceaa23a90ce3daeaabd3 (MD5) / Approved for entry into archive by Gisele Isaura Hannickel(gisele.hannickel@fgv.br) on 2011-05-19T19:02:59Z (GMT) No. of bitstreams: 1 61080100022.pdf: 712879 bytes, checksum: 317762f58b96ceaa23a90ce3daeaabd3 (MD5) / Approved for entry into archive by Gisele Isaura Hannickel(gisele.hannickel@fgv.br) on 2011-05-19T19:03:38Z (GMT) No. of bitstreams: 1 61080100022.pdf: 712879 bytes, checksum: 317762f58b96ceaa23a90ce3daeaabd3 (MD5) / Made available in DSpace on 2011-05-19T19:05:40Z (GMT). No. of bitstreams: 1 61080100022.pdf: 712879 bytes, checksum: 317762f58b96ceaa23a90ce3daeaabd3 (MD5) / In this dissertation we provide an overview of the evolution of corporate governance practices in Brazil over time based primarily in Brazilian private firms which responded to the 2005 and 2007 Brazil Corporate Governance (CG) Survey. This study address issues related to the number of independent directors and non-independent, board structure and control of companies, audit committees and fiscal board. Shareholder rights, shareholder agreements, mechanisms for transparency, and transactions with conflict of interest will also be discussed in this work. We found that the evolution of corporate governance practices has been more significant in some areas. However, others are still less adopted by Brazilian companies. Board independence is an area relatively weak: only 13% of companies in 2007, versus 11% in 2005 have 50% or more of independent directors. The number of the companies that provide takeout rights to minority shareholders on a sale of control beyond the minimum required by Brazilian law has increased. There is an increase in formality of board processes, like system to evaluate CEO, CEO succession plan, system to evaluate other officers and materials before meeting. Moreover, financial disclosure has improved considerably during this period. / Nesta dissertação, nós fornecemos um panorama da evolução das práticas de governança corporativa no Brasil ao longo do tempo com base preliminarmente em empresas privadas brasileiras que responderam o Survey de Governança Corporativa no Brasil realizado em 2005 e 2007. Este estudo aborda questões relacionadas com o número de conselheiros independentes e não independentes, conselho de administração, controle das companhias, comitês de auditoria e conselho fiscal. Direitos dos acionistas, acordos de acionistas, mecanismos de transparência e de transações com conflito de interesse, também serão discutidos neste trabalho. Constatamos que a evolução das práticas de governança corporativa tem sido mais significativa em algumas áreas. Todavia, outros ainda são menos adotados pelas empresas brasileiras. Independência do conselho é uma área relativamente fraca: apenas 13% das empresas em 2007, contra 11% em 2005 tem 50% ou mais conselheiros independentes. O número de empresas que fornece direitos de proteção aos acionistas minoritários em uma venda do controle, além do mínimo exigido pela lei brasileira, aumentou. Há um aumento da formalidade dos processos do conselho, como sistema de avaliação de CEO, plano de sucessão de CEO, sistema para avaliar outros diretores e o envio de materiais antes da reunião. Além disso, divulgações de informações financeiras melhoram consideravelmente durante este período.

Submitted by Lilian Costa (lilian.costa1980@gmail.com) on 2018-11-05T13:33:35Z No. of bitstreams: 1 Lilian Costa_335729.pdf: 736429 bytes, checksum: 4b44d68fa3655f5087c50124278f531f (MD5) / Approved for entry into archive by Thais Oliveira (thais.oliveira@fgv.br) on 2018-11-05T19:51:07Z (GMT) No. of bitstreams: 1 Lilian Costa_335729.pdf: 736429 bytes, checksum: 4b44d68fa3655f5087c50124278f531f (MD5) / Approved for entry into archive by Isabele Garcia (isabele.garcia@fgv.br) on 2018-11-06T13:02:18Z (GMT) No. of bitstreams: 1 Lilian Costa_335729.pdf: 736429 bytes, checksum: 4b44d68fa3655f5087c50124278f531f (MD5) / Made available in DSpace on 2018-11-06T13:02:18Z (GMT). No. of bitstreams: 1 Lilian Costa_335729.pdf: 736429 bytes, checksum: 4b44d68fa3655f5087c50124278f531f (MD5) Previous issue date: 2018-10-04 / Esta pesquisa investiga a relação entre diversidade de gênero nos conselhos de administração e desempenho financeiro e risco das empresas, através de um modelo econométrico, com o objetivo de contribuir para o entendimento da diversidade de gênero nos conselhos administrativos. Com a chegada da mulher no mercado de trabalho, o tema ganhou relevância na discussão acadêmica e no mundo empresarial. O conceito de diversidade é entendido de forma ampla, e inclui, não só a variedade de gênero e etnia, mas também a diversidade em relação aos aspectos culturais, sociais e profissionais. A população representada nesse trabalho é de 227 empresas, listadas e negociadas na B3. O período analisado compreendeu de 2010 até 2016. Observou-se que a representatividade feminina nos últimos anos cresceu mais de 50%. No entanto, tal participação no Board of Directors das empresas brasileiras ainda é minoritária, próxima de 9% do total pesquisado, e 57% das empresas analisadas não apresentam mulheres em seu conselho de administração. Os resultados encontrados indicam uma relação fraca e positiva da participação feminina sobre o q-Tobin e negativa sobre o risco. / This research investigates the relationship between gender diversity in boards of directors with financial performance and company risk, through an econometric model, with the objective of contributing to the understanding of gender diversity in the board of director. This issue has been discussed in the academic and business world because of the arrival of women in the labor market. The concept of diversity is broadly understood, and includes not only the diversity of gender and ethnicity but also diversity in relation to cultural, social and professional aspects. The sample is 227 companies, published on B3. The analyzed period considers from 2010 until 2016. Female representativeness in the last seven years grew more than 50%. However, its participation in the Board of Directors of Brazilian companies is still low, close to 9% of the total sample, and 57% of the analyzed companies do not have women on their board. The results indicate a weak and positive relationship between female participation on q-Tobin and negative on risk.

A company’s board of directors is ultimately responsible for putting effective corporate governance (CG) structures in place as mechanisms to enhance its accountability to stakeholders. An audit committee (AC), which is a subcommittee of the board, is one component of the company’s CG structures. In South Africa, legislation, the Johannesburg Stock Exchange (JSE) listing requirements, and the King code and report of Governance for South Africa 2009 (King III) deal with the composition and responsibilities of ACs. As the shares of AltX listed companies, which are categorised as high-growth potential, small to medium-sized listed companies, are traded publicly, they are required to comply with the Companies Act and to establish an AC according to the Act’s composition requirements to fulfil mandatory responsibilities. In terms of the JSE listing requirements, AltX listed companies must appoint an AC or explain their reason(s) for not doing so. As the total market capitalisation of AltX listed companies has increased by 87% over the past three years, greater numbers of stakeholder groups are being affected. Since stakeholder groups are protected when companies implement effective CG processes, the purpose of this study is to understand the way in which the AC of an AltX listed company, as an example of a high-growth potential, small to medium-sized listed company, adds value to the company and its stakeholders. Attributes that contribute to the value added by ACs were identified as being the characteristics of AC members; the fulfilment of responsibilities through optimised activities; and the fulfilment of responsibilities by maintaining healthy relationships with the board and information providers. An explorative qualitative case-based research design was applied in terms of which a single AltX listed company was selected according to predetermined selection criteria. Data were collected using individual semi-structured interviews, field notes and company documents. Descriptive open coding techniques were used for data analysis with the findings of the study subsequently being presented in terms of a theoretical framework of the attributes that influence the extent to which the AC adds value. The findings of the study confirm that these attributes of the AC facilitate its ability to add value to the AltX listed company investigated and its stakeholders in terms of enlightened shareholder theory. / Auditing / M. Com. (Auditing)

This thesis examines responses to the problem of stock market short-termism ('SMST'). SMST is defined as investors preferring short-term financial returns over potentially more profitable longer-term investment opportunities. Such short-termism may result in serious real-world consequences. Company executives appear to respond to short-term pressures in ways that jeopardize the long-term sustainability of listed companies negatively impacting investors and other stakeholders including employees, customers and the community at large. This thesis provides an original contribution to the academic literature via an in-depth examination of all significant regulatory and financial industry efforts meant to reform SMST in major capital markets after the global financial crisis of 2007-2009. I hypothesize that the extensive discussion of the SMST issue has generated substantial reforms. Based on an analysis of the implemented reforms, I reveal that the anticipated surge of SMST reform has not occurred. I then explore why the widespread SMST discussion has not resulted in greater reform efforts. This examination reveals the complex nature of the SMST problem and the evidentiary issues inherent in viably identifying and measuring the harms of SMST. However, I determine that there is probable cause for concern justifying SMST reform measures. Further, I conclude that SMST issues arise because investors are biased towards short-term returns when calculating risk. This bias is evident in share pricing, meaning that share prices are not a reliable indicator of fundamental corporate value. Based on this conclusion, an original dual pathway for SMST reform is proposed. This dual pathway indicates that SMST reform measures must either: (1) reduce the actual or perceived excessive discounting of future returns by investors (i.e. make share prices better reflective of long-term value); or (2) cut-off the transmission mechanisms of SMST into the listed company (i.e. sever the link between share prices and corporate decision-making). Assessing the reforms against this dual pathway reveals that few of the reforms are conceptually effective. Of the few reforms that are conceptually effective, most are relatively 'light' touch. A 'light' touch approach may not be problematic, however, as such measures are easier to implement than 'hard' law. In the case of regulatory reforms, a 'light' touch approach provides scope for flexibility to minimize the many potential harms associated with 'hard' law measures. Consequently, this thesis concludes that SMST reform is more likely to occur if reformers pursue a 'lighter' touch approach meant to reduce excessive discounting of future returns and 'nudge' capital markets away from their harmful short-termism focus.

Corporate governance has received considerable attention over the past few decades especially after several corporate scandals and global financial crises surfaced. It is a tool that ensures the wealth maximization interest of shareholders (Grove & Clouse, 2015; Gupta, 2015). Several studies on corporate governance have been made around the world, mostly in the context of developed nations. These have made significant contributions to the corporate governance literature and practice. However, there is scant research that addresses corporate governance issues in the context of emerging economies. In terms of applicability, it is important to view corporate governance not as a whole but in the context of specific fashion due to the economic, political, social and cultural differences among countries. In spite of the numerous studies in the subject and their contributions, a significant gap exists in our understanding of the relationship between corporate governance structure, process and board performances. Most of the prior studies focused on board structure giving much less emphasis to the board process- the missing link. By way of addressing the gap and providing a broader understanding of the relationship among the corporate governance variables, this study, among others, explored how board structure and board process influence the board performance in an emerging market economy context. Board performance has hardly been explored in this setting and this study tries to contribute to the existing literature by examining the antecedents of the boards‟ performance. The antecedents are positioned in the second order constructs that include the board structure and the board process. The antecedents with the board structure go beyond the usual variables of size, CEO duality and the outside/inside directors‟ ratio. A mixed method approach was used in the collection and analysis of the data. Both quantitative and qualitative data were collected from private and public banks‟ governing bodies and various groups of stakeholders. The quantitative data were mainly analyzed statistically using the Partial Least Square method of the Structural Equation Modeling. The qualitative data obtained from the survey and the interviews were thematically analyzed to identify important concerns. The findings from the quantitative data analysis showed that board structure has positive and significant influence on board process, board service and control v task performance. The findings also indicated a positive and significant relationship between board process and both board service and control task performance. Furthermore, the study revealed that board process mediates the relationships between board structure and both board service and control roles; it was also found that ownership type affects board performance but has no influence on company performance. The stakeholders‟ perceptions of various aspects of corporate governance practices, as beginners, were found out to be not bad. However, Ethiopia, like many emerging market economies, does not yet have a fully developed legal and regulatory system. Additionally, the enforcement capacities of the regulatory organ are at a nascent stage, and a private sector that is able to support effective corporate governance has yet to emerge. The nature of the Ethiopian banking corporate governance system can be characterized by a one tier system with a non-executive board of directors and ownership concentration. The boards of directors are also mainly control oriented rather than strategic or service oriented leaders. / Graduate School of Business Leadership (SBL) / D.B.L.

A company’s board of directors is ultimately responsible for putting effective corporate governance (CG) structures in place as mechanisms to enhance its accountability to stakeholders. An audit committee (AC), which is a subcommittee of the board, is one component of the company’s CG structures. In South Africa, legislation, the Johannesburg Stock Exchange (JSE) listing requirements, and the King code and report of Governance for South Africa 2009 (King III) deal with the composition and responsibilities of ACs. As the shares of AltX listed companies, which are categorised as high-growth potential, small to medium-sized listed companies, are traded publicly, they are required to comply with the Companies Act and to establish an AC according to the Act’s composition requirements to fulfil mandatory responsibilities. In terms of the JSE listing requirements, AltX listed companies must appoint an AC or explain their reason(s) for not doing so. As the total market capitalisation of AltX listed companies has increased by 87% over the past three years, greater numbers of stakeholder groups are being affected. Since stakeholder groups are protected when companies implement effective CG processes, the purpose of this study is to understand the way in which the AC of an AltX listed company, as an example of a high-growth potential, small to medium-sized listed company, adds value to the company and its stakeholders. Attributes that contribute to the value added by ACs were identified as being the characteristics of AC members; the fulfilment of responsibilities through optimised activities; and the fulfilment of responsibilities by maintaining healthy relationships with the board and information providers. An explorative qualitative case-based research design was applied in terms of which a single AltX listed company was selected according to predetermined selection criteria. Data were collected using individual semi-structured interviews, field notes and company documents. Descriptive open coding techniques were used for data analysis with the findings of the study subsequently being presented in terms of a theoretical framework of the attributes that influence the extent to which the AC adds value. The findings of the study confirm that these attributes of the AC facilitate its ability to add value to the AltX listed company investigated and its stakeholders in terms of enlightened shareholder theory. / Auditing / M. Com. (Auditing)

This Master's thesis deals with collective bodies in non-governmental non-profit organizations in the Czech Republic. The theoretical part acquaints the reader with basic concepts such as non-profit organization and its possible legal forms in the Czech Republic, mission, fundraising, public relations, strategic planning and briefly introduces the collective bodies of foreign organizations. The practical part is then based on good practices of six organizations, whose representatives of collective bodies were willing to share their experiences. The organizations were selected on the basis of successful participation in the competition Non-Profit Organization of the Year, in which they were placed among the top three in their category (some of them even for several years). Among these organizations we can find one registered institute, two public benefit societies and three registered associations. Since these organizations aren't with the same legal form, their collective bodies are also different. During the description of good practices, it was found, however, that the degree of motivation with which the members of the collective bodies of the surveyed organizations commit themselves to their work and their active involvement in the operations of the organization does not differ. The thesis also...

Mining as a historical male-dominated space is confronted by various transformational structural changes. While the racial composition of mining boards has improved, gender representation of women in boards is problematic. Owing to our historical legacy of apartheid and decades of colonialism, South Africa became a victim of an unequal society. The new political dispensation under the leadership of Nelson Mandela sought to redress those inequalities after the fall of apartheid in 1994. However, gender inequalities and the gender subject remain contentious issues, particularly in historically male-dominated sectors such as mining. With legislation enforcement, only a few mining companies have improved the representation of women on boards (WoB), while some companies remain with no women or only one woman on board. However, despite the atrocities of apartheid, South African mining sector is relatively performing better in terms of WoB than countries that were not exposed to such a discriminatory dispensation. Yet still, mining lags far behind compared to other industries in South Africa. This outlook led me to conduct a multiple cross-case analysis research study to explore how women were integrated into mining by reviewing talent management practices used to appoint women (and men) by exploring recruitment, development and retention practices. I adopted an emancipatory critical research approach, a feminist epistemological paradigm, and I considered African feminism a suitable research approach given the unique context of South African mining history. The results showed that the industry still faces gender structural inequalities guided by an indoctrinated mindset of the sector, and that it is still to a great extent racially biased. While most focus of talent management is directed at recruiting more women, men still control recruitment, which is biased and informal, and different or stringent recruitment criteria are applied for women. Even though women occupy a few board seats and exceed the critical mass in some boards, they still face change-resistant attitudes and stereotypes and a double glass ceiling in terms of who has a right of voice, which disregarded their talent. All women regardless of race, were subject to stereotypes, but dealt with them differently. I found that black women are more affected than any other racial group due to their social identities, facing triple oppression due to their gender and race, but also class, which affects their confidence and their talent offering to board responsibilities. In fear of marginalisation, the black women in my study felt that they needed to earn the trust of men, especially those of white men. White, Indian and 1coloured women who were affected by gender stereotypes were silent about those prejudices, but were also still discriminated against with fewer board opportunities. The effectiveness of training and development of directors and retention was hindered by the culture in mining, individual constructed identities and societal gender constructions of roles and responsibilities. These constructions undermined the talent of women in boards and constructed the talent of men as superior. / Thesisi ye e fa tlhahlobo ye e tseneletšego ya ditirišo tša taolo ya talente ka dikhamphaning tše tshela tša meepo tša go ngwadišwa le JSE ka Afrika Borwa. E nyakišiša gobaneng talente ya mosadi e hlokomologilwe, le gore gobaneng basadi ba tšwela pele go ba palo ye nnyane mo dibotong le ge e le gore molao wa Afrika Borwa o thekga tekatekano ya bong le gore tokafatšo ya taba (business case) e hlatsetšwe go ya ka tirišo. Mokgwatlwaelo wa basadi wa Afrika o šomišwa ka go kopantšha mokgwa wa maemo a magareng woo o lebantšhago go kopano ya morafe le bong. Tšhomišo ya mokgwatlwaelo wa basadi wa Afrika gape e dira teori seemo sa go ithuta bong go ya ka mabaka a moswananoši gomme mo tabeng ye, intasteri ye e tletšego ka banna ka nageng ya morago ga kgatelelo le morago ga kgethollo. Dipoelo di bontšhitše gore intasteri e lebana le diphapano tša sebopego tša bong tše di hlahlwago ke maikutlo ao a tsentšwego a lekala, le le sa ntšego le tšea lehlakore go ya ka morafe. Komiti ya ditšhišinyo e tletše ka thwalo ya taolo ya banna, yeo e tšeago lehlakore ebile e se ya semmušo, gomme dikriteria tša go fapana tša thwalo di a šomišwa go basadi. Basadi ka moka go sa šetšwe morafe, ba be ba lebana le ditlwaedi, eupša ba be ba šogana le tšona ka go fapana. Basadi ba bathobaso ba sa ntše ba lebana le kgatelelo ya go menagana gararo ya go amana le bong bja bona, morafe, le boemo. Ka go tšhoga nyenyefatšo, basadi ba Bathobaso ba be ba nyaka tumelelo go banna, kudu ya banna ba Bathobašweu. Basadi ba Bathobašweu, Bathobaso, Maindia le Bammala ba be ba sa bolele ka dikgethollo, eupša gape ba be ba sa ntše ba gatelelwa kgahlanong le menyetla e se mekae ya boto. Katlego ya tlhahlo le tlhabollo ya balaodibagolo le kganetšo di šitišitšwe ke setšo sa meepo, maitšhupo ao a bopilwego a go ikgetha le dibopego tša bong tša setšhaba tša dikarolo le maikarabelo. Dibopego tše di nyaditše talente ya basadi ka dibotong gomme di bopile talente ya banna go ba ya maemo a godimo. Nyakišišo ye e kgatha tema go dingwalo tša tirišo tša basadi mo dibotong ka go nyakišiša mašomelo a taolo ya talente – a selo se se hlokomologilwego basading mo dinyakišišong tša diboto. E hlaloša ka fao basadi ba thwalwago, hlahlelwago maemo a boto le go hlaloša hlokomologo ya go tsenela taolo ya talente. / Business Management / Ph. D. (Management Studies)