Thesis (M.M. (Entrepreneurship and New Venture Creation))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2017. / This explorative study examines the decision making criteria at the screening stage by venture capital firms in South Africa. The study also probes into the decision making criteria on the personality side and whether that has any association with the “big five” characteristics. A threesection questionnaire including both Likert style type (decision making and short version of big five) and nominal questions was sent to venture capital firms. Logistic regression as well as correlation analysis was run on the data. The findings were that individual attributes (entrepreneurs’ characteristics and experience) environment, industry and macro economic environment (characteristics of product and services, characteristics of the market and financial considerations) are all positively related to venture capital firms’ decision to grant finance to an entrepreneur. Findings on the big five characteristics are that only openness to experience, consientiousness and extrarversion were seen as critical considerations by venture capital firms, but not agreeableness and emotional stability characteristics. The study findings are beneficial for entrepreneurs and venture capital firms. / MT2017

M.A. (Psychology) / The evaluation of the 6M Simulation Training Programme is conducted against the background of the manpower needs of the Republic of South Africa, the increase in training programmes as a result of this need and the importance of evaluation of training to ensure the optimal utilization of human and economic resources. The environment in which the worker finds himself in the Western industrial situation has an influence on his job efficiency. As maintenance of economic growth in South Africa will in large measure be dependent on the optimal utilization of the Black workers corps· understanding of the particular problems which the Black worker has to contend with is an important factor in the training situation. The 6M Simulation Training Programme was developed to counteract an identified lack of knowledge with regard to basic business principles relevant to modern industry, and the relevance of these concepts to the job situation, on the part of uninitiated Black workers. Factual information with regard to sources of capital of the specific organisation, use of this capital, reasons for starting the organisation, competition in business, restrictions on the organisation resulting from market factors, sources of income, distribution of income, causes and implications of loss and profit, distribution of profit, influence of the worker on the success or failure of an organisation, the role of management and the reasons for relevant rules and regulations are conveyed to the course attendant during the 6M Simulation Programme in a unique manner. Comparison of pre and post-test results show a significant increase in knowledge of concepts discussed during the course. Variables which influenced the increase in knowledge were the instructor, age, educational qualifications, home language and job category. A positive change in job behaviour and attitudes related to the job situation was observed by the majority of representatives of line management interviewed. A factor analysis indicated positive change in respect of four overall factors, i.e. attitude towards management, efficient use of machines, human sources of inefficiency and identification with the organisation. Evaluation of the influence of the course on organisational efficiency wat not possible because of practical problems. An analysis of comments of respondents indicated that course attendants experienced the course as relevant and applicable to the work situation. Experience during this study indicates that there is SUsplclon on the part of the Black worker with regard to the motives of management with reference to training. The positive effects which training may have on the job performance of course attendants ;s adversely affected by the lack of reinforcement in the job situation. Lack of knowledge and understanding with regard to attitudes, needs, aspirations and problems of co~workers adversely affect the relationships between cultural groups. The development of a relationship based on trust between the different cultural groups seems to be a prerequisite for the successful utilization of the South African manpower potential.

Human capital is an important economic concept. The significance of human resource development, in the form of both education and health, has long been realised and was stressed even in the writings of the early economists. Introduction, p.1

The purpose of this multi-case study research was to determine variables that affect The Perceived Success of Fair Family Employee Compensation in South African family businesses. Five propositions: Human Capital, Outside Advice, Succession Planning, Fairness and Family Harmony were tested and as a result, Human Capital, Fairness and Family Harmony were deduced to have a positive influence, while Outside Advice and Succession Planning had a non-significant influence. The present research effort begun with an in-depth literature review on family business and the variables: Human Capital, Outside Advice, Succession Planning, Fairness, Family Harmony and Fair Family Employee Compensation, followed by a qualitative explanatory multi-case study research design using embedded units of analysis and provided a valuable insight into compensation issues regarding family businesses in South Africa. Replication logic was used to generalise the results and it was recommended that the preliminary theory regarding Outside Advice and Succession Planning be revised and tested with another set of cases, while the results indicated that Human Capital, Fairness and Family Harmony could be generalised to the broader theory.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2017 / Existing literature indicates a positive relationship between human capital and entrepreneurial capital. This has been a dominant supported view for ages. Among other scholars, Unger, et al. (2011); Davidson and Honig (2003); still uphold the view that human capital influence entrepreneurial success to a certain magnitude. However, contemporary studies argue that although the relationship has been demonstrated for decades, some assumptions to the perception should be questioned as the world evolves over time. Unger (2011); Martin, et al. (2013), and more other scholars identify the modification of the traditional assumptions. In terms of these scholars, uncertainty remains over the magnitude of this relationship and the circumstances under which human capital is more or less strongly associated with entrepreneurial success. Consideration of fragmentation in today's study with regard to conceptualization of human capital, the choice of success indicators, the context of study provide some critical challenges to the traditional perception of consistent relationships. All these aspects provide some open gaps to be filled by research. Oostebreek, et al. (2010) sees a questionable relationship between human capital factors and entrepreneurial success, which in terms of Unger, et al. (2011) give rise for the consideration of a moderator approach to study the effects of human capital on business success in order to efficiently determine whether the stated relationships exist or not. Resourced-Based Theory (RBT) was used as theoretical framework to this study. Three main constructs and five sub-constructs have been used to formulate the conceptual model from which three hypotheses were developed and tested. Empirical studies was conducted among selected informal traders in Limpopo Province – focusing in three districts. 257 unregistered small business owners were potential respondents. A quantitative methodology was employed to collect and analyse data through survey research design. The Structural Equation Modelling (SEM) along with AMOS 23, SPSS were used as descriptive statistical tools to test the validity of the hypotheses. Both theoretical and applied implications will assist the knowledge-base of researches. Policymakers will also find the implications useful in industrial policymaking. This study provides recommendations which may assist further research and other related enquiries of academic nature. / MT2017

A dissertation submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in partial fulfillment of the requirements for the degree of Masters of Commerce in Business Science from the School of Economics and Business Sciences. Johannesburg South Africa / Increasing competition in industries has made it necessary for established companies to regenerate themselves and renew their ability to compete. This is the goal of Corporate Entrepreneurship (CE) activities, which involve extending the firm‟s domain of competence and corresponding opportunity set, through internally and externally resources. Recently, CE has evoked interest not only from academics, but also from business practitioners and policy makers. This interest stems from the recognition of the advantage that can be gained from corporate entrepreneurship activities (Entebang, Mansor, & Puah, (2006). The prominence of State Owned Enterprises (SOEs) in the economy continues to grow. Their assets have been growing steadily since 2011 while SOEs play a critical role in the economic pursuit of advancing economic growth and developmental objectives of the country (Brown, 2014). This dissertation assesses the impact of forms of capital on corporate entrepreneurship in State Owned Enterprises in South Africa. The focus is on three forms of entrepreneurial capital which are; (1) economic capital, (2) human capital, and (3) social capital. Each form of capital is critical and has been discussed in the literature in order to orientate its utility in relation to entrepreneurship. The study was carried out in three major SOEs, which are administered by the Department of Public Enterprises. The study was based on quantitative measures using a self-administrated questionnaire. It was found that some forms of capital have a significant impact on a company‟s entrepreneurial activities. For instance, it was found that forms of entrepreneurial capital have significant influence on corporate entrepreneurship because they contributed positive toward the growth of the business. This study considered the nature or the quality of the company‟s workforce by means of employee human capital. Therefore, of all the managerial processes that can affect the pursuit of corporate entrepreneurial outcomes, Human capital is considered as one of the more vital. Furthermore, the recent loan guarantees from government to SOEs such as Eskom and South African Airways are a practical indication on the level of importance Economic capital is on corporate entrepreneurial activities. On Social capital and Corporate Entrepreneurship, Foil (1995) argued that it is the access to a diverse set of firm resources that significantly enhances corporate entrepreneurship activities, which points to the importance of Social capital at multiple levels within the organisations in pursuing corporate entrepreneurship. However, more research is required to investigate further how forms of capital impact established company‟s entrepreneurial activities. / MT2017

Firstly, the study contributes to the understanding of voluntary IC disclosure practices in the South African metropolitan municipalities and therefore narrows the gap between IC theory and practice. Secondly, the findings provide valuable insights into the frequency, patterns and quality of voluntary IC disclosure in metropolitan municipalities across a three-year period. Thirdly, the results of the study may be used by various stakeholders of municipalities such as management, regulators and standard-setting bodies to improve disclosure of IC in this sector. / Financial Accounting / M. Phil. (Accounting Sciences)

Thesis submitted in fulfillment for the requirements of the Degree of Master of Technology: Business Administration, Durban University of Technology, 2012. / The purpose of this study was to investigate the low rate of registration of IP rights such as patents, trademark and design rights at the DUT, through a survey conducted with the academic research staff. Managing IP at a University of Technology today has new dimensions with the implementation of the IP Act 51 of 2008. Stimulation of the development and commercialization of technology within South Africa may benefit the country and its citizens. The knowledge economy indicates that research, development and innovation are fundamental prerequisites for achieving and maintaining competitiveness and sustained growth. The researcher undertook to explore reasons for low IP registration as a means to increase such activity at the DUT. This study adopted both the qualitative and quantitative methodologies with questionnaires distributed to full-time academic staff in selected departments. Factors that contributed to the gap between academic research and intellectual property registration were examined. This study investigates activities relating to patent registration, as well as the academic performance of researchers at DUT. The literature reviewed indicated that factors affecting low intellectual property right activities at the DUT may be a lack of awareness, implications of the ownership provisions, funding and an effective institutional arrangement for the management of intellectual property. This study identified strengths and weakness of DUT‟s IP management system. It is envisaged that the findings of the study will contribute to increasing IP registration at the DUT, in particular, and other UoT‟s in general. Low IP registration can be attributed to lack of understanding and awareness of the ownership provisions of the IP Act. The study highlighted lessons to be learned from universities in other countries and how the DUT‟s system can grow into an efficient and effective means of promoting national innovation and economic growth. In an increasingly global world, the ability to invent, design and manufacture goods and services that people want is more vital to our future prosperity than ever.

Thesis (MAcc)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Human capital efficiency, as measured by Value-Added Human Capital (VAHU), refers to an employee's ability to create value-added for his employer. As a key resource which is not captured by conventional accounting, human capital and its value-creating ability may contribute to the premium to book value at which many companies trade. This study, therefore, sought to investigate trends in the divergence between book value and market value in South Africa, by analysing the median market-to-book ratios of companies listed on the Johannesburg Stock Exchange over time. The primary research objectives, however, were to empirically confirm whether corporate financial and market performance in South Africa can be explained as a contemporaneous and future outcome of human capital efficiency, and whether human capital efficiency is improving. In a largely industrialised emerging market, such as South Africa, there is some concern that companies which concentrate on efficient and productive management of their tangible assets may neglect the effective skills development and training of their human capital assets. Time-series cross-sectional multiple regressions were used to analyse the intra-industry and inter-industry relationships between VAHU and financial performance (as measured by return on assets, revenue growth and headline earnings per share) and market performance (as measured by market-to-book ratios and total share return) in companies listed on the Johannesburg Stock Exchange. Of the financial year-ends falling in the period 31 December 2001 to 30 June 2011, 1765 company years were covered, relating to 390 companies listed on the Main Board and ALT-X. Company size, leverage, industry and return on equity were held as control factors. The same financial data was used to assess the median growth in VAHU over the period under review. The market value-book value gap of listed companies in South Africa was found to have increased from 2001 to 2011, while human capital efficiency declined. Human capital efficiency has almost no effect on current or future market performance in South Africa. Higher human capital efficiency has a positive effect on current returns generated by any asset – tangible or intangible. Higher headline earnings per share is concurrently associated with higher human capital efficiency in almost every industry. Higher revenue growth is contemporaneously associated with higher human capital efficiency in all industries, except those which are consumer-driven. In consumer-driven industries, human capital efficiency is not a driver for revenue growth, but is still associated with higher profitability. The longer-term effect of human capital efficiency on corporate performance in South Africa is more unclear than its immediate effect. The findings of the study highlight the commercial implications of the degree of industrial action and poor basic education in South Africa – a working population that is poorly educated, with the paradox of wages that are low in relation to the cost of living, yet which are becoming too high in relation to the level of output the workers produce. The results pose a compelling argument for improving the quality of education in South Africa, as well as for employer-driven skills development and employee training. / AFRIKAANSE OPSOMMING: Menslike kapitaaldoeltreffendheid, soos gemeet deur Toegevoegde Waarde Menslike Kapitaal (TWMK), verwys na 'n werknemer se vermoë om toegevoegde waarde vir sy werkgewer te skep. As 'n sleutel-hulpbron wat nie deur konvensionele rekeningkunde vasgelê word nie, dra menslike kapitaal en die waardeskeppingsvermoë daarvan, dalk by tot die premie op boekwaarde waarteen baie maatskappye verhandel. Hierdie studie het dus nagestreef om tendense in die afwyking tussen boekwaarde en markwaarde in Suid-Afrika te ondersoek, deur die mediaan mark-tot-boekverhoudings van maatskappye genoteer op die Johannesburgse Effektebeurs met tydverloop, te ontleed. Die hoof-navorsingsdoelwitte was egter om empiries te bevestig of korporatiewe finansiële en markprestasie in Suid-Afrika beskryf kan word as 'n gelyktydige en toekomstige gevolg van menslike kapitaaldoeltreffendheid en of daardie menslike kapitaaldoeltreffendheid verbeter. In 'n grootliks geïndustrialiseerde ontwikkelende mark, soos Suid-Afrika, is daar 'n mate van kommer dat die maatskappye wat konsentreer op die doeltreffende en produktiewe bestuur van hul tasbare bates, die doelmatige ontwikkeling van vaardighede en opleiding van hul menslike kapitaalbates mag verwaarloos. Tydreekse dwarsdeursnee meervoudige regressies is gebruik om die intra-industrie en inter-industrie verhoudings tussen TWMK en finansiële prestasie (soos gemeet deur die opbrengs op bates, inkomstegroei en wesensverdienste per aandeel) en markprestasie (soos gemeet deur mark-tot-boekverhoudings en die totale opbrengs op aandele) in maatskappye wat op die Johannesburgse Effektebeurs genoteer is, te ontleed. Van die finansiële jaareindes in die tydperk 31 Desember 2001 tot 30 Junie 2011, is 1765 maatskappyjare gedek, rakende 390 maatskappye wat op die Hoofbord en Alt-X genoteer is. Die grootte van die maatskappye, hefboomfinansiering, industrie en opbrengs op ekwiteit dien as kontrolefaktore. Dieselfde finansiële data is gebruik om die mediaangroei in TWMK oor die tydperk onder oorsig te bepaal. Dit is bevind dat die markwaarde-boekwaardegaping van genoteerde maatskappye in Suid-Afrika vanaf 2001 tot 2011 toegeneem het, terwyl menslike kapitaaldoeltreffendheid gedaal het. Menslike kapitaaldoeltreffendheid het byna geen effek op die huidige of toekomstige markprestasies in Suid-Afrika nie. Hoër menslike kapitaaldoeltreffendheid het 'n positiewe uitwerking op die huidige opbrengste wat gegenereer word deur enige bate – tasbaar of ontasbaar. Hoër wesensverdienste per aandeel is samelopend met hoër menslike kapitaaldoeltreffendheid in byna elke industrie. Hoër groei in inkomste is gelyktydig geassosieer met hoër menslike kapitaaldoeltreffendheid in alle industrieë, behalwe dié wat verbruiker-gedrewe is. In verbruiker-gedrewe industrieë, is menslike kapitaaldoeltreffendheid nie 'n aandrywer van inkomstegroei nie, maar is nog steeds gelyktydig geassosieer met hoër winsgewendheid. Die langer-termyn uitwerking van menslike kapitaaldoeltreffendheid op korporatiewe prestasie in Suid-Afrika, is meer onduidelik as sy onmiddellike effek. Die bevindinge van die studie beklemtoon die kommersiële implikasies van die omvang van industriële aksie en swak basiese onderwys in Suid-Afrika – 'n werkende bevolking met swak opleiding, tesame met die paradoks van lone wat laag in vergelyking met bestaankoste is, maar wat te hoog styg met betrekking tot die vlak van uitset wat die werkers produseer. Die resultate bied 'n oortuigende argument vir die verbetering van die gehalte van onderwys in Suid-Afrika, sowel as vir werkgewer-gedrewe ontwikkeling van vaardighede en werknemersopleiding.

Thesis (MComm)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: This study investigates the extent to which educational attainment, school quality and numeric competency influence individuals’ employment and earnings prospects in the South African labour market using data from the 2008 National Income Dynamics Study (NIDS). While NIDS is one of the first datasets to contain concurrent information on individual labour market outcomes, educational attainment levels, numeric proficiency and the quality of schooling received in South Africa, it is also characterised by limited and selective response patterns on its school quality and numeracy measures. To account for any estimation biases that arise from the selective observation of these variables or from endogenous selection into labour force participation and employment, the labour market returns to human capital are estimated using the Heckman Maximum Likelihood (ML) approach. The Heckman ML estimates are then compared to Ordinary Least Squares (OLS) estimates obtained using various sub-samples and model specifications in order to distinguish between the effects that model specification, estimation sample, and estimation procedure have on estimates of the labour market returns to human capital in South Africa. The findings from the multivariate analysis suggest that labour market returns to educational attainment in South Africa are largely negligible prior to tertiary levels of attainment and that racial differentials in school quality may explain a significant component of the observed racial differentials in South African labour market earnings. Neither numeracy nor school quality appears to influence labour market outcomes or the convex structure of the labour market returns to educational attainment in South Africa significantly once sociodemographic factors and other human capital endowment differentials have been taken into account. Though the regression results vary substantially across model specifications and estimation samples, they are largely unaffected by attempts to correct for instances of endogenous selection using the Heckman ML procedure. These findings suggest that the scope for overcoming data deficiencies by using standard parametric estimation techniques may be limited when the extent of those deficiencies are severe and that some form of sensitivity analysis is warranted whenever data imperfections threaten to undermine the robustness of one’s results. / AFRIKAANSE OPSOMMING: Hierdie studie ondersoek in watter mate opvoedingspeil, skoolgehalte en numeriese vaardighede individue se werks- en verdienstevooruitsigte in die Suid-Afrikaanse arbeidsmark beïnvloed. Die studie gebruik data van die 2008 National Income Dynamics Study (NIDS). Alhoewel NIDS een van die eerste datastelle is wat inligting oor individuele arbeidsmarkuitkomste, opvoedingsvlakke, numeriese vaardighede sowel as skoolgehalte bevat, word dit ook gekenmerk deur beperkte en selektiewe responspatrone rakende skoolgehalte en die numeriese vaardigheidmaatstaf. Die arbeidsmarkopbrengs op menslike kapitaal word deur middel van die Heckman ‘Maximum Likelihood (ML)’-metode geskat om te kontroleer vir moontlike sydighede wat mag onstaan weens selektiewe waarneming van hierdie veranderlikes of as gevolg van endogene seleksie in arbeidsmarkdeelname of indiensneming. Die Heckman ML-skattings word dan vergelyk met gewone kleinste-kwadrate-skattings wat met behulp van verskeie modelspesifikasies en steekproewe beraam is, om sodoende te bepaal hoe verskillende spesifikasies, steekproewe en beramingstegnieke skattings van die arbeidsmarkopbrengste op menslike kapitaal in Suid-Afrika beïnvloed. Die meerveranderlike-analise dui daarop dat daar grotendeels onbeduidende arbeidsmarkopbrengste is op opvoeding in Suid-Afrika vir opvoedingsvlakke benede tersiêre vlak, en dat rasseverskille in skoolgehalte ’n beduidende deel van waargenome rasseverskille in arbeidsmarkverdienste mag verduidelik. Indien sosio-demografiese faktore en ander menslike kapitaalverskille in ag geneem word, beïnvloed syfervaardigheid en skoolgehalte nie arbeidsmarkuitkomstes en die konvekse struktuur van die arbeidsmarkopbrengste op opvoeding in Suid-Afrika beduidend verder nie. Terwyl die regressieresultate aansienlik tussen die verskillende modelspesifikasies en steekproewe verskil, word die resultate weinig geraak deur vir gevalle van endogene seleksie met behulp van die Heckman ML-metode te kontroleer. Hierdie bevindinge dui daarop dat daar net beperkte ruimte bestaan om ernstige dataleemtes met behulp van standaard parametriese beramingstegnieke te oorkom, en dat die een of ander vorm van sensitiwiteitsanalise benodig word wanneer datagebreke die betroubaarheid van die beraamde resultate nadelig kan raak.