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Leadership research has transitioned from studying the character traits, position and background of individuals towards an exploration of the process of leadership. This transition has been welcomed by many scholars who claim that leadership is an ongoing combination of actions that are socially co-constructed by several actors (Crevani, Lindgren & Packendorff, 2010). Previous scholarship has recognised that co-construction of leadership emergence has taken place through the pursuit of common goals, meaning-making and joint outcomes (Bennis, 2007; Drath, McCauley, Palus, Van Velsor, O’Connor & McGuire, 2008; Uhl-Bien, 2006). Research on how leadership is co-created was insufficient to understand how co-creation was happening within the processes of leadership. The study investigated how leadership was co-created within a specific case context. This research was conducted on a global scale but undertaken in South Africa. It was further decided to locate the research during the evolving process of the concept of Natural Capital Accounting (NCA) (the emergent case context), which is one of many multidisciplinary approaches to sustainable development. NCA, however, has been pitched as an innovative tool to bring about well-needed systemic transformative change in society. Relational leadership theory, which is the study of both relationships and relational dynamics of leadership (Uhl-Bien, 2006), in the same breath, has been earmarked as an important mechanism for improving our understanding of the growing need for integration of processes, actions and tenets across disciplines in sustainability research (Nicholson & Kurucz, 2019). Relational leadership was the chosen theoretical frame for the study which provided the evidence of how co-creation happened. Five (5) key themes that underpinned relational leadership were identified and provided the structure for the emerging results of the study. These included “Context”, “Value creation”, “Communication”, “Partnerships and relationships”, and “Emotion.” Key experts from around the world within the emergent case context of NCA were interviewed to provide insights into the micro-dynamics of co-creation. Five (5) key tenets have emerged from the study. These were “Ambiguity”, “Credibility”, “Conversation and/or dialogue”, “Structures and systems”, and “Optimistic”. These tenets, interacting with each other and with other identified elements, contributed to our understanding of how co-creation in relational leadership was taking place. Relational leadership theory has been advanced by presenting a construct of co-creation, where the key tenets and other interacting elements identified were developed into a co-creation model that served as a modest theoretical contribution specifically to the relational leadership trajectory and to other relationship centred leadership theories and philosophies. The model served as an integrated mechanism to improve understanding of leadership and advance the implementation of NCA. Key words: Relational, leadership, Natural Capital Accounting, co-creation / Thesis (PhD)--University of Pretoria, 2020. / University of Pretoria, Postgraduate Bursary / Business Management / PhD / Unrestricted

An integral component of all corporations‘ financial operations is the determination of the cost of equity of the firm. This input is required in many financial decision making processes, and the correct estimation of this value is therefore a very important issue. The Capital Asset Pricing Model (CAPM) of Sharpe (1964) and Lintner (1965) has filled this gap since its inception, and has been extensively used by both corporations and individuals in their estimation of expected return. Whilst the standard form of this model is intuitive and simple in its implementation, an additional issue faced when utilising it in the current day is that of global financial integration. Whilst the CAPM is suitable for use in a market which is completely segmented from the rest of the world, this is often not the case as the barriers across countries have gradually declined, with the result that much of the world is now internationally integrated. This therefore led to two extensions of the CAPM to the international environment by both Solnik (1974) and Grauer, Litzenberger and Stehle (1976). Whilst both are referred to as International CAPM (ICAPM) models, the difference lies in that Solnik‘s (1974) model incorporates the presence of exchange rate risk, whilst the Grauer, Litzenberger and Stehle (1976) one does not. This study therefore provides an analysis of the suitability of these two models to the South African environment, along with a comparison of the relative performances of each model against that of the standard CAPM model. The three different methods of analysis used are: the unconditional approach, a conditional GARCH approach, as well as the cost of equity approach. The analyses are applied to the data which consists of all listed firms on the JSE from 1990 up to 2010, with multiple methods of evaluation employed, such as information criteria and forecasting, in order to provide a robust analysis of all three models. The results of the analysis vary across the different methods used, however since a significant amount of evidence was found of the International CAPM models, it can be concluded that an international asset pricing model should be used instead of a domestic one. In the choice between the single-factor ICAPM model and the multifactor ICAPMEX, even though use of the Grauer et al (1976) model would not be inappropriate, it was concluded that use of Solnik‘s (1974) ICAPMEX model would be the best suited to the South African financial environment, as the presence of exchange rate risk factors in an asset pricing model is found to be an important inclusion which may lead to better cost of equity estimates. / Theses (M.Com.)-University of KwaZulu-Natal, Pietermaritzburg, 2011.

No abstract available. / Thesis (MBA)-University of Natal, Durban, 2001.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: Researchers at the Graduate School of Business of the University of Stellenbosch raised their concerns about the accuracy of inflation adjustment estimates. This led to research by Hanekom (1992), Marais (1992), Ozrovech (1992), Laack (1994) and an article by Hamman and Smit (1994). Hanekom, Marais, Ozrovech and Loock investigated alternative methods of calculating the average age of fixed assets for South African companies. They came to the conclusion that approximations of inflation adjustments by means of simplified formulas are inaccurate and should be discontinued. Alternative methods are time-consuming, data dependent and contain various assumptions that may lead to inaccurate results. Based on the findings and recommendations of the above-mentioned authors to develop company-specific inflation adjustment models, this study project will attempt to investigate the behaviour of the average age of fixed assets as calculated by the formula: Average age (year n) = Accumulateddepreciation (n) Depreciation(for year n) Various conditions that influence this specific calculation will be simulated in spreadsheet models. The behaviour of the approximated average age will then be explained by means of the results obtained from the spreadsheet simulations, as well as a mathematical formula that will be deducted from the simulated spreadsheet models. The understanding of the behaviour of the estimation of the average age of fixed assets and the conditions that influence this estimation might help to establish possible patterns that would assist with the development of companyspecific inflation adjustment models. / AFRIKAANSE OPSOMMING: Navorsers aan die Nagraadse Bestuurskool van die Universiteit van Stellenbosch het hulle twyfel uitgespreek oor die akkuraatheid van inflasieregstellingskattings, wat gelei het tot navorsing deur Hanekom (1992), Marais (1992), Ozrovech (1992) en Loock (1994) en 'n artikel deur Hamman en Smit (1994). Hanekom, Marais, Ozrovech en Loock het alternatiewe metodes ondersoek om die berekening van die gemiddelde ouderdom van vaste bates vir Suid Afrikaanse maatskappye te doen. Die slotsom was egter dat die berekening van die waardes met behulp van eenvoudige formules onakkuraat is en eerder gestaak moet word. Alternatiewe metodes is tydrowend, afhanklik van die beskikbaarheid van inligting, en vereis aannames wat tot moontlike onakkurate antwoorde kan lei. Na aanleiding van bogenoemde skrywers se gevolgtrekkings, en aanbevelings om maatskappy-spesifieke modelle te ontwikkel om inflasieaanpassings te doen, sal hierdie studie poog om die gedrag van die gemiddelde ouderdom van vaste bates soos dit bereken word deur die volgende formule, te ondersoek: Gemiddelde ouderdom (jaar n) = Opgehoopte waardevermindering (n) Waardevermindering (vir jaar n) Verskillende toestande wat die berekening beïnvloed sal deur middel van sigblad modelle gesimuleer word. Die gedrag van die geraamde gemiddelde ouderdom sal dan verduidelik word aan die hand van die sigblaaie sowel as 'n afgeleide wiskundige formule vir die berekening van die waarde. lndien die verskillende toestande en faktore wat die berekening van die gemiddelde ouderdom van vaste bates beïnvloed, verstaan en verduidelik kan word, kan moontlike patrone geïdentifiseer word wat sal help met die ontwikkeling van meer spesifieke modelle vir inflasie-aanpassings van maatskappye.

Thesis (MBA)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: As the world's economic landscape undergoes a fundamental shift from industrial economy in which plant and equipment are the core assets, to the 'new' economy which places a high premium on people and intangible assets traditional accounting systems are becoming less effective. Intellectual Capital has become the indispensable component of corporate value. The significant rise in the market-to-book ratio of listed companies is testimonial of this fact. By focusing on physical and cash assets, and remaining oblivious to Intellectual Capital, conventional accounting methods are missing a very crucial point. The exclusion of Intellectual Capital from financial performance reports results in information deficiency for both internal and external stakeholders of organizations. Measurement and reporting of Intellectual Capital has thus become imperative. However, it is the Human Capital component (of Intellectual Capital) that should be the prime concern of business leaders and other stakeholders. People are the true agents in business; all the other assets, whether tangible or intangible, are the result of human actions and ultimately depend on people for their continued existence. Measurement and reporting of Human Capital is therefore of the essence. Measurement of Human Capital is not simple and straightforward. Development of methodologies for valuation of Human Capital is a daunting challenge. In spite of its difficulty, measurement of Human Capital has to be vigorously pursued; the stakes are just too high for the challenge to be shunned. This study proposes a system for valuation of Human Capital. "Valuation" may conjure expectations of financial measurement; however, despite concerted efforts by the accounting profession, currency-based valuation of people has received very little, if any, appreciation in industry. The model put forward here, is a non-monetary Human Capital Index. / AFRIKAANSE OPSOMMING: Met die fundamentele verskuiwing van die ekonomiese landskap van die wêreld, vanaf 'n industriële ekonomie met produksie-aanlegte en toerusting as primêre bates, tot die nuwe ekonomie wat 'n hoë premie op mense en ontasbare bates plaas, het konvensionele rekeningkundige stelsels toenemend ondoeltreffend geraak. Intellektuele kapitaal het 'n onontbeerlike onderdeel van korporatiewe waarde geword. Die betekenisvolle premie wat die markwaarde bo die batewaarde van genoteerde maatskappye geniet, lewer bewys van hierdie tendens. Deur te fokus op fisiese en monetêre bates, en nie intellektuele bates in ag te neem nie , verontagsaam konvensionele rekeningkundige stelsels 'n kern beginsel. Die uitsluiting van intellektuele kapitaal as deel van prestasie verslagdoening lei tot 'n gebrekkige inligtingsbasis vir beide interne en eksterne belangegroepe van die organisasie. Meting van, en verslagdoening oor intellektuele kapitaal, het dus 'n noodsaaklikheid geword. Dit is egter die menslike hulpbron komponent van intellektuele kapitaal wat die primêre oorweging by sakeleiers en ander belanghebbendes behoort te wees. Mense is die werklike rolspelers in organisasies. AI die ander bates, tasbaar of ontasbaar, is die gevolg van menslike aktiwiteit, en hang uiteindelik van mense af vir hul voortgesette bestaan. Daarom is dit van die uiterste belang dat daar 'n proses is wat menslike bates evalueer en verslag doen. Die meting van menslike kapitaal is nie eenvoudig en voor die hand liggend nie. Die ontwikkeling van metodes om menslike kapitaal te assesseer is 'n besondere uitdaging. Ten spyte van die probleme moet die assessering van menslike kapitaal daadwerklik nagestreef word; hierdie saak is te belangrik om te ontwyk. Hierdie studie stel 'n model voor om waardebepaling van menslike kapitaal te doen. So 'n waardebepaling mag verwagtinge van 'n finansiële metingsbasis skep; tog, ten spyte van doelgerigte pogings deur die rekeningkundige professie, het 'n monetêre waardebepaling van mense weinig, indien enige, aanvaarding in die sakewêreld ontvang. Die model wat hier voorgestel word, is 'n nie-monetêre menslike kapitaal indeks.

With the current strain on the world's material resources and the increase in their cost, a constant pressure is building to increase the productivity of human resources. Adding, to the strain is the increasing demand of society for a higher quality of life through more meaningful work. Responding to both of these pressures requires decisions that simultaneously meet the goals of organizations and the needs and values of employees. To make the kind of decisions demanded by this dual priority of human effectiveness and improved quality of life, information is needed to: 1. Improve understanding of the nature and scope of human resource expenditures; 2. Improve selection, retention, and motivation of employees; 3. Allocate money spent on human resources; 4. Overhaul the approach to communication among managers, between managers and other employees, and between the organization as a whole and outside parties; 5. Expand the scope of internal and external reports to deal with social as well as financial accomplishments. The ultimate objective of this research is to develop a human resource model and a heuristic for developing empirical support which can be useful to businessmen seeking to increase human effectiveness and improve the quality of life. The model merges several previously unrelated theories dealing with human resources and in the process contributes some new concepts.

The purpose of this study was to analyse personnel expenditure of the Directorate Veterinary Service in the North West Province and how it impacted on service delivery. Literature on personnel expenditure and its influence on service delivery, particularly in the field of Veterinary Services is still in its infancy. Financial condition was referred as a tool to evaluate trends and patterns in how personnel budgets increases over a period of time as a fraction of the total budget affected the ability of the directorate to deliver services to the citizens of the province. Financial condition uses a percentage change to analyse changes in the budget over time for the Directorate. Budget reports (2000-2002) collected from the Provincial Department of Agriculture, Conservation and Environment was analyzed in terms of a split between personnel and operational. This analysis was then used to elucidate patterns over time for the Directorate as a whole, which were then compared between the regions (using cost centers) to determine any bias in terms of resource allocation. The percentage change was also done per standard budget item used in the Province. From the study it is evident that there was deterioration in financial condition for the financial year 200112001. This deterioration in financial condition is shown by a drop in budget but also in terms of a bias towards personnel. This phenomenon was however reversed in the following year of 2002/2003. This study has identified a negative correlation between personnel budget and other expenditure,:, needs for the Directorate Veterinary Services that had negative consequences for service delivery. To this extent it recommends a regular monitoring process to be put in place and the use of public partnerships where practical as a solution to rising personnel costs.

The purpose of this study was to analyse personnel expenditure of the Directorate Veterinary Service in the North West Province and how it impacted on service delivery. Literature on personnel expenditure and its influence on service delivery, particularly in the field of Veterinary Services is still in its infancy. Financial condition was referred as a tool to evaluate trends and patterns in how personnel budgets increases over a period of time as a fraction of the total budget affected the ability of the directorate to deliver services to the citizens of the province. Financial condition uses a percentage change to analyse changes in the budget over time for the Directorate. Budget reports (2000-2002) collected from the Provincial Department of Agriculture, Conservation and Environment was analysed in terms of a split between personnel and operational. This analysis was then used to elucidate patterns over time for the Directorate as a whole, which were then compared between the regions (using cost centers) to determine any bias in terms of resource allocation. The percentage change was also done per standard budget item used in the Province. From the study it is evident that there was deterioration in financial condition for the financial year 200112001. This deterioration in financial condition is shown by a drop in budget but also in terms of a bias towards personnel. This phenomenon was however reversed in the following year of 2002/2003. This study has identified a negative correlation between personnel budget and other expenditure needs for the Directorate Veterinary Services that had negative consequences for service delivery. To this extent it recommends a regular monitoring process to be put in place and the use of public partnerships where practical as a solution to rising personnel costs. / (M.B.A.) North-West University, Mafikeng Campus, 2004

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