Dissertation submitted in compliance with the requirements for the Master's Degree in Business Administration, Durban University of Technology, 2008. / The amalgamation of municipalities came into effect as a legislative requirement brought about a number of challenges for the local government. One such major challenge relates to the impact that these amalgamations will have on human resource practices of the various municipalities. Literature study reveals that during any merger or amalgamation, less attention is paid to the human element of a merger until the merger is almost complete. This lack of attention impacts negatively on the merger results. Like other municipalities, Ethekwini Municipality is a product of this legislative requirement. It was formed as a result of the amalgamation of different municipal entities that had different human resource practices. The problem facing eThekwini Municipality is the misalignment of human resources policies and their effect on the working environment. This study looks at the impact of this amalgamation on the human resources practices of the eThekwini Municipality. The sub-objectives of the study are: to ascertain employees' perceptions of amalgamation; to determine whether employees believe that the human resources' matters are handled in a manner that will bring about stability and equity in the workplace; and to establish whether different perceptions exist between employees of the former Durban Metro Central and those of the erstwhile entities. A stratified random probability sample of 150 employees was selected. The sample was drawn from 5 former entities that now form eThekwini Municipality, namely: Inner-west, Outer-west, Metro Central, North and South Operational entities. Using face-to-face interviews, employees were asked to complete a questionnaire. The results of the research revealed that there was generally a positive perception of the amalgamation process amongst employees. The study also revealed that different perceptions exist between the employees of the former entities and those of Metro central It is recommended that, during a merger, management should have detailed work plans. The plans should detail how the organization will deal with the structure of the organization, its people, culture, technology and processes. Secondly, management should consider a total reward system as opposed to total cost package. / M

Thesis (M.M. (Innovation Studies))--University of the Witwatersrand, Faculty of Commerce, Law and management, Graduate School of Business Administration, 2016 / FDI is a buzzword used in the discourses of many emerging market politicians over the last two decades and SA politicians make no exception. It is commonly accepted that many multinationals (MNEs) provide employment opportunities and contribute to the transfer of technological knowledge in support of the host country’s catch up activities. This study aims to provide insight into how the South African subsidiaries of innovative ICT MNEs invest in skills development and why their local leaders chose to act in this way by comparing the case studies of IBM SA, Cisco SA and Dimension Data. It also seeks to find which of these three firms is more efficient at this investment and how South Africa, as a host country, influences their investment activities. The theoretical foundation for this study contains the literature review under the topic framed by the research problem: “How innovative ICT firms based in SA invest in skills.” The researcher gained knowledge about the habit of investment in skills in these branches of MNEs, in particular, their behaviour when they operate within South Africa, and produced a set of propositions that were investigated under the framework of the three case studies using qualitative research methodology. On one hand, the outcome of the study is that these researched branches are not innovating in SA because of the special emerging market context of SA and consequently, at present, they do not invest in R&D and innovation activities. On the other hand, SA government business consultants consider the branches of MNEs as sources of strong innovative and R&D activities that may influence SA innovation successes, different from what these firms do. Moreover, the results of the analysis show that the studied firms intensively exploit their existing products for maximum short-term profit. Policy makers could be assisted by this study in developing adequate policies in support of R&D and innovation activities. The study could also provide guidance for those HQs and leaders of local branches who want to improve their performance in SA and to SA innovators who are seeking to understand the twofold effect of globalisation. / DM2016

A research report submitted to the School of Economics and Business Science, Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment (50%) of the requirements for degree of Master of Commerce in Finance Johannesburg, South Africa May 2016 / The empirical literature provides conflicting assessments about how firms choose their capital structure and how macroeconomic variables influence capital structure decision making. There has been a minimal research of the impact of macroeconomic conditions on the adjustment of capital structure towards target, specifically in the context of South Africa. This study employs a sample of South African companies listed on JSE Limited stock exchange from 2000 - 2014 to investigate: (1) the relationship between corporate leverage and firm characteristics as well as macroeconomic variables; (2) the impact of extreme capital market frictions on capital structure decisions; and (3) the relation between macroeconomic conditions and capital structure adjustment speed using an integrated partial adjustment dynamic capital structure model. The research results find evidence that certain firm characteristics and macroeconomic factors have pronounced influence on the capital structure of the sample of listed companies. The empirical results are compared to previous international evidence from developed markets and are in line with the international evidence. Results show that profitability, size and tangibility are significant determinants of firms’ capital structure in the pre- extreme capital market friction periods. The rand crisis of 2001 – 2002 and the global financial crisis period of 2007 – 2009 are considered extreme capital market friction periods. The findings highlights that profitability and size have a different relation to leverage during these extreme capital market friction periods. The extreme capital market friction dummy is significant which means that capital supply conditions are also amongst important factors that need to be considered while determining the financing mix during periods where the supply of capital is disrupted. The findings highlight that demand-side and supply-side factors need to be considered in firms’ financial decision making processes, especially during periods where there is extreme capital markets friction. The research also finds evidence supporting the prediction of theoretical framework that firms adjust to target leverage slower in good states than in bad states, where states are defined by real GDP growth rate and inflation rate. / MT2017

Thesis (M.Com. (Accounting))--University of the Witwatersrand, Faculty of Commerce, Law and Management, School of Accountancy, 2017. / This study investigates whether there is a significant difference between the capital structures of firms listed on the JSE’s main board and those listed on the AltX. The factors influencing the differences are also explored in detail. Non-financial firms listed on the JSE and AltX respectively between 2011 and 2015 were chosen for the study. A panel data regression model was used and five measures of leverage were tested. The findings indicate that the exchange on which a firm is listed has an impact on its capital structure, with firms listed on the AltX having significantly higher levels of leverage than those listed on the JSE’s main board. In support of the pecking order theory, AltX firms are found to be more likely to draw on their internal funds as a first source of finance, even though they are generally less profitable than JSE firms and have less internal funds available. Moreover, AltX firms are found to be more reliant on more accessible short term financing than JSE firms, making them more susceptible to liquidity risks. This higher risk is congruent with the finding that the availability of tangible assets to offer as collateral appears to be a more significant determinant of leverage for AltX firms. The AltX was established to support growth of small and medium enterprises (SMEs) by enabling access to finance. Thus despite the establishment of the AltX, SMEs still face considerable constraints to accessing capital. Keywords: Capital structure, AltX, JSE, SME, information asymmetry / GR2018

Thesis (MPA) --University of Limpopo, 2011

M. Tech. Business Administration / Working capital management is an extremely important area of financial management as current assets normally represent more than half of the total assets of a business. Literature has shown that efficient management of working capital will lead to more profitability and creating more market value. This study sought to ascertain the impact of the working capital management on firm profitability in the retail sector of the South African Johannesburg Stock Exchange listed companies.

Since returning from virtual obscurity following the demise of apartheid in 1994, South Africa has endured eight years of aggressive transition across nearly all aspects of its social, political and economic infrastructure. Historically recognised for its underlying wealth of natural resources, recent efforts in South Africa have sought to develop the nation's intellectual capabilities and productivity. To establish South Africa's advancement in respect its transition, the primary objective of this research study is to empirically investigate whether a firm 's intellectual capital can explain organisational performance. Findings from this research study will assist to determine if South African companies appear to continue to rely on traditional business practices and perceptions, that is a reliance on natural resources for wealth creation, or are shifting toward a greater reliance on intellectual capital factors of production in determining company performance. The contribution of intellectual capital to company performance in the South African economy was examined using three different models. Model I - part A was designed to establish the decisive business resource in creating wealth in the South African economy? Model I - part B, Model 2 and Model 3 are proposed on the premise of the Resource Based Theory of the Firm in that, company performance is a function of the organisation's ability to acquire and deploy resources (intellectual capital) in such a way to develop a sustainable competitive advantage. Model I - part B, Model 2 and Model 3 were designed to empirically investigate the relationship between a company's intellectual capital and performance. Company performance was examined in three dimensions: productivity, profitability, and market valuation. The primary explanatory independent variable of the analysis was intellectual capital performance. For Model 1 part B and Model 2 a within industry analysis was designed. Two groups of companies were defined for contrasting multiple regression analysis using the different performance measures defined as the dependent variables. Group membership was determined by the company's primary source of value creation. The low-knowledge base group derives its value from raw resource (material) extraction, fixed capital investment and the efforts of physical labour. The high knowledge-base group derives its value exclusively from the efforts of people (human capital) and the collective routine systems, processes and information within the organisation (structural capital). For Model 3 an analysis was carried out across industries and proposed, that certain industries rely more heavily upon the use of knowledge and intellectual capital in producing a company's goods or services. Model 1, empirical results suggested that the dominant business resource in the South African economy is physical and not human capital or structural capital. These results imply that South Africa has not yet manifested the primary characteristics of the Knowledge Economy. Model 2, empirical results indicated only one significant positive relationship, between intellectual capital performance and profitability. This applied to the high and low knowledgebase group. This finding indicated that the appropriate management and measurement of intellectual capital would improve company profitability. Model 3, empirical results did not . support the hypothesis, that the knowledge-base of an industry had a positive effect on the relationship between intellectual capital performance and company performance. Overall, the empirical findings, based on correlation and linear multiple regression analysis indicates, that the contribution of intellectual capital to company performance are informative, but mixed. In general, empirical findings on the one hand suggest that although physical capital is the dominant business resource in the South African economy, the more intensive a company manages and measures its intellectual capital, improved in profitability can result. On the other hand intellectual capital performance does not have a positive influence on productivity in a company nor does it have a positive influence on analysts or investors. As a result, despite efforts to improve its intellectual capital base the business environment and market in South Africa still appears to place greater weight to corporate performance based on physical capital assets. / Thesis (Ph.D.)-University of Natal, Durban, 2003.

Thesis (MPhil (Information Science))--University of Stellenbosch, 2006. / Although a number of studies into the reasons for merger failure point to cultural incompatibility as a major cause, little attention has thus far been given to the knowledge loss that occurs consequent to company mergers. Drawing on literature around knowledge, knowledge loss, reasons for mergers and acquisitions, organisational culture and merger failure, this case study examines the potential for knowledge loss in a company in the South African IT sector.

The aim of this study was to assess challenges in Public Appointments and Recruitment Processes in Chris Hani District Municipality: A case study of Human Resource Department in Lukhanji Local Municipality (2008-2010) of the Eastern Cape Province. There has never been a detailed research study conducted in the Chris Hani Human Resource Department, regarding the subject in question. The Constitution of the Republic of South Africa in Section 195(i) directs that Public Administration must be broadly representative of the South African people, with employment and personnel management practices based on ability, objectivity, fairness and the need to redress the imbalances of the past to achieve broad representation. The literature review explored extensively the models used in implementing recruitment and appointment processes globally. From those tested models elsewhere, it was evident that South Africa has a great Constitution and good policies regarding Local Government Human Resource Department recruitment and appointment processes not withstanding some challenges cited in the study. This assessment of challenges in the public appointments and recruitment processes in Chris Hani District Municipality assisted in the establishment of the real facts about effective and fair recruitment and appointment processes in the Local Government Human Resource Management Department to deserving communities. It became clear from the study that providing efficient and fair recruitment and appointments processes to the Local Government Human Resource Department in South Africa requires a broader advocacy agenda encompassing the development of Human Resource systems and the generation of numerous skills and expertise to deliver services to the poor people of our country.

The aim of this study was to assess challenges in Public Appointments and Recruitment Processes in Chris Hani District Municipality: A case study of Human Resource Department in Lukhanji Local Municipality (2008-2010) of the Eastern Cape Province. There has never been a detailed research study conducted in the Chris Hani Human Resource Department, regarding the subject in question. The Constitution of the Republic of South Africa in Section 195(i) directs that Public Administration must be broadly representative of the South African people, with employment and personnel management practices based on ability, objectivity, fairness and the need to redress the imbalances of the past to achieve broad representation. The literature review explored extensively the models used in implementing recruitment and appointment processes globally. From those tested models elsewhere, it was evident that South Africa has a great Constitution and good policies regarding Local Government Human Resource Department recruitment and appointment processes not withstanding some challenges cited in the study. This assessment of challenges in the public appointments and recruitment processes in Chris Hani District Municipality assisted in the establishment of the real facts about effective and fair recruitment and appointment processes in the Local Government Human Resource Management Department to deserving communities. It became clear from the study that providing efficient and fair recruitment and appointments processes to the Local Government Human Resource Department in South Africa requires a broader advocacy agenda encompassing the development of Human Resource systems and the generation of numerous skills and expertise to deliver services to the poor people of our country.