This study investigated the relationship between capital structure, performance and replacement of chief executive officer in firms listed on the Nairobi Securities Exchange (NSE). Data was collected from a sample of 37 firms listed on the NSE over a period of 23 years, from 1990 to 2012. The analysis was conducted at three stages. The canonical correlation technique was employed to investigate the bi-directional relationship between capital structure and performance and to select competing indicators of performance and capital structure. Second, the general linear model (GLM) procedure was used to test the effect of performance and ownership structure and to test the effect of capital structure and ownership structure. Lastly, the generalised estimating equation (GEE) was used to assess effects of performance, capital structure and ownership structure on change in CEO. The results revealed that a bidirectional relationship exists between capital structure and debt capital. The indicators found to be useful in examining the relationship between performance and capital structure are asset turnover ratio and total debt to the total asset ratio. The findings support the efficiency hypothesis but not the franchise hypothesis. The results also indicated that firms with a low asset turnover are with a low asset turnover are 3.045 times likely to change CEO compared to firms with a high asset turnover. The results also indicated that firms with high leverage (debt) are he results also indicated that firms with high leverage (debt) are 3.430 times likely to change CEO compared to firms in low leverage, while the firms with medium leverage are are are are 6.491 times likely to change CEO. Therefore managers should not be passive when it comes to choosing between equity and debt capital played a disciplinary role on firms listed on the NSE. / Business Management / DCom (Business Management)

Global and South African business challenges necessitate an increased focus on the need for effective leadership. The leaders of South African public listed organisations need to investigate new business solutions to enhance and sustain organisational effectiveness. Public listed South African organisations on the Johannesburg Stock Exchange (JSE) were selected as the organisation type for this study. This study was motivated by the need for public listed South African organisations to explore organisational leadership as a means to assist in differentiating their organisations from competitors, thereby enhancing organisational competitiveness. The primary research objective of this study was to investigate and establish an organisational leadership brand concept model for public listed South African organisations. The discussion of the literature covered the global and South African business context, the concepts of the nature of organisational leadership, brand and organisational leadership brand, and emminated in an exploratory conceptualisation of organisational leadership brand for public listed South African organisations. The pragmatic paradigm was used as the foundation of this study. The study adopted an exploratory, sequential mixed methods research approach, combining a qualitative emphasis and supportive quantitative research approach to conduct the exploratory research. The qualitative findings proposed the concepts: the nature of organisational leadership and organisational leadership brand, including stakeholders and these concepts served as the basis for designing the quantitative survey questionnaire. The quantitative results indicated reliable questionnaire items, and based on the exploratory statistical analysis of the multivariate linear regression equation, described the organisational leadership brand (OLB) concept exploratory model with the best fit. An integration of the qualitative findings and quantitative results provided the empirical support to achieve the primary research objective. The OLB concept model integrates the concepts of organisational leadership and organisational leadership brand. The study contributed across the methodological, theoretical and practical domains as follows: the nature of organisational leadership for South African public listed organisations was conceptualised; the elements comprising the concept of OLB for public listed South African organisations was described; the OLB concept model for public listed South African organisations describes the development of organisational leadership brand equity through four levels of organisational leadership brand equity development; and the OLB concept model for public listed South African organisations may assist by providing guidance for the senior leadership of organisations in establishing organisational leadership brand equity. Furthermore, the study’s research approach provides support for the use of a mixed methods research approach in the study of organisational leadership within the pragmatic context of business organisations / Industrial and Organisational Psychology / D. Litt. et Phil. (Consulting Psychology)

The South African economic landscape changed for ever after the first democratic election of 1994. The change heralded an era of inclusion, the economic landscape became open to people from all races, whereas before economic power was centralised in the hands of a minority group due to Apartheid legislation. Exploring the relationship of diversity of board members on the corporate governance of small, micro and medium enterprises (SMME’s) in South Africa has become imperative. Understanding the relationship, if any, which exists can aid SMME’s in board selection and corporate governance alike. Data for the study was collected through a self-enumerated questionnaire completed electronically and followed-up by interviews with heads of boards surveyed. Both the questionnaire and the interviews focussed on corporate governance, which included different components of governance such as the general principles of governance followed in the enterprise, the stakeholder focus exerted by the board of directors and the functioning of the board of directors. This resulted in a score for the enterprise which can be expressed as a percentage. This governance indicator was related to questions on the diversity of board members. The findings were in many cases contradictive when a single variable was observed against the score an enterprise achieved for governance. When taking a more holistic approach and evaluating multiple variables, it became evident that it is rather a combination of variables which displays some relationship with corporate governance. This study found that board diversity does have a relationship with corporate governance. The magnitude of this relationship could not be ascertained and warrants further research in a wider spectrum of the South African economy and also with a larger group of subjects. / Business Management / M. Tech. (Business Administration)

This cross-sectional qualitative study explored and described the role and contribution of operational level employees towards corporate entrepreneurship (CE) in the long-term insurance sector in Johannesburg, South Africa. Individual face-to-face semi-structured interviews took place with 13 operational level employees. Data analysis was done through thematic analysis where themes and sub-themes emerged. The findings indicate that operational level employees acknowledge that CE positively influences their entrepreneurial activity within the organisation. While operational level employees implement the CE strategy, they emphasise non-engagement in the CE initiatives as one of the main barriers to contributing to CE. This study concludes that management should focus on the antecedents of CE such as management rewards/reinforcement, work discretion, organisational boundaries, organisational structure and organisational culture. / Applied Management / M. Com. (Business Management)

Indiana University-Purdue University Indianapolis (IUPUI) / Previous research has found that the clarity of information provided to raters about women managers’ performance affects ratings of their competence, likeability, and overall evaluation. The current study sought to contribute to this literature by examining whether individual differences of raters can explain the reason for differential performance evaluations of male and female managers, despite them both performing equally. For this purpose, the current research extended the findings of Heilman and colleagues by replicating their methodology while introducing a moderator variable, the rater’s Implicit Person Theory (IPT). The IPT differentiates people into either entity theorists (that is, those who believe that behavior is trait-based and therefore fixed and stable) and incremental theorists (those who believe that behavior is situationally mediated and hence, changeable). Specifically, it was proposed that the effects found in the previous study would be stronger when the rater possessed an entity theory as opposed to an incremental theory. In doing so, this research attempted to provide an understanding of why male and female managers might be given different ratings, all other things being equal. Analyses revealed results that were consistent with, as well as some that were quite inconsistent with, previous findings. Rater IPT was found to have a significant effect on ratings provided by male participants but not those of female participants. Other findings and implications are discussed and limitations and future research directions are stated.