This research project identified principles of practice management as applied to the personal financial planning process. The purpose of this research was to establish principles that Financial Planners could use to improve service delivery to the individual. In broad terms this is known as practice management and this research attempted to develop a greater understanding of practice management and provide a basis for further research on the subject.To do this in a meaningful way the research had two structured phases. The first phase was a theoretical study that provided the basis for the design of a research instrument. The second phase was an empirical study that was done on the responses received on the research instrument to establish principles of practice management.The research successfully identified four components and twenty principles of practice management, as well as three demographic drivers of income and succeeded in meeting the research objectives. / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

The financial sector has been identified as playing a crucial role in the advancement of sustainable development, as it provides capital that drives industrial activities and economic growth. In recognition of this role and the need to manage environmental and social risks, ten private, international lending institutions developed and adopted a set of voluntary guidelines in 2003, which became known as the Equator Principles. This study aims to assess the factors that influence the adoption of the Equator Principles by South African Financial Institutions. To achieve this, a qualitative research in the form of semi-structured interviews with industry specialists and representatives of four large banks - was undertaken. South African Financial Institutions cited the following as the main driving factors in deciding to adopt the Equator Principles: improvement in risk management and in chances of partaking in syndication loans with other Equator Principles Finance Institutions; and acquiring funding from Development Finance Institutions. Concerns over potential loss of business, as well as increased scrutiny by civil society were raised as constraining factors to the adoption of the Equator Principles. Further research needs to be undertaken in order to determine the actual costs and benefits of adopting the Equator Principles, since South African Finance Institutions have only recently adopted them. / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

Best Company to Work For (BCTWF) survey promoters argue that participation in the survey results in higher productivity and profitability of organisations. The BCTWF survey essentially follows the universalist Human Resources Management (HRM) approach and this is in conflict with the contingent HRM view. The research investigated whether participation in the BCTWF survey leads to superior financial performance. Data from thirty two companies was eventually used in the research. Bivariate fits and pairwise correlations are examples of two of the statistical tools that were used to establish if a relationship exists between the BCTWF rankings and various financial ratios. The research showed that good financial performance does lead to a high rating in the BCTWF survey and that a higher ranked company does not necessarily perform financially better than a lower ranked company.<p/> / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

An underlying premise of this study was that the formal financial sector has an important role to play in the process of assisting the development of South Africa’s disadvantaged communities, especially those living in poverty. The study explored the construct of financial inclusion and sought to understand what measures are being taken by South African financial services institutions to optimise financial inclusion. Through secondary data analysis, the study investigated instances of the construct in other geographies and sought to compare and contrast what was being done in those geographies, with what is being done in South Africa. The study concluded that while the lower segments of the market are relatively unchartered territory for South African financial services organisations, the strategies that are being employed to service these markets seem to be a combination of strategies that are being employed in other geographies around the world. Based on evidence from the analysis of the various geographies and face-to-face interviews with industry practitioners from some of the larger financial services organisations in South Africa, the study proposed some additions to the way in which product development processes are carried out within financial services.<p / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

This study assesses challenges of financial service providers, specifically banks, microfinance institutions, long term insurers and short term insurers, at the base of the pyramid with respect to affordability, acceptability, availability and awareness in Nigeria. This was done through a questionnaire posed to base of the pyramid consumers in Nigeria. Loyalty to financial service providers was examined to determine what the drivers of loyalty are in the base of the pyramid market. These drivers differ per financial service and need to be viewed separately by each of the industries within the financial services sector. It was found that most base of the pyramid consumers do not participate in financial services due to acceptability, showing that the products and services provided by these institutions are not meeting the needs of the base of the pyramid consumers. Affordability also plays a role in base of the pyramid consumers not taking out financial services products. This indicates that financial services providers need to come up with new products and services with appropriate pricing models in order to service this market. Other factors, such as trust, also play a role in the financial services sector in base of the pyramid consumers in Nigeria. / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

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Using the U.S. Gramm-Leach-Bliley Financial Modernization Act ("GLBA") as a model, I argue that this act of financial reform, promulgated in November 1999, is a result of "Re-regulation", rather than "Deregulation" as suggested by most scholars. I emphasize the linear development of the GLBA, from 'regulation' to 'deregulation' and then further to 're-regulation'. This linear direction denotes sequential regulatory development that concerns the gradual relaxation of permissible banking activities, which is correspondingly marked by the Glass-Steagall Act of 1933, the Bank Holding Company Act of 1956, and the GLBA of 1999. The GLBA enabled the U.S. financial services industry to begin offering all round financial services under the single roof of the Financial Holding Company("FHC"). The GLBA's mandate is to provide the U.S. financial services industry with a level playing field and allow them to compete with their strongest rivals from th eEuropean Union. European Union banks already operate under a liberal regime, following the success of the Second Banking Directive of 1989 that embraces financial liberalization. Taiwan's Financial Holding Company Act ("FHCA"), promulgated in July 2001,owes much of its content to its U.S. counterpart, the GLBA. Taiwan's FHCA is basically modeled after the U.S. GLBA but selectively adopts parts of the E.U. model. The U.S. model is represented by the GLBA while the E.U. model is represented by the Second Banking Directive. Through cross-selling and cross-marketing, financial holding companies in the U.S. model and universal banks in the E.U. model, both can achieve economies of scale and scope. This dissertation is otherwise devoted to providing a comparative analysis on certain key elements of the U.S. GLBA and Taiwan's FHCA, although I sometimes refer to the E.U.'s Second Banking Directive. I conclude that while Taiwan's FHCs lack the economic scale of U.S. FHCs, the adoption of the U.S. model in the FHCA offers Taiwan's FHCs better fire wall protection than the E.U. model would. More generally speaking, there are pros and cons to Taiwan's adoption of the GLBA. The GLBA and by extension the FHCA require its domestically established FHCs be pure holding companies, as opposed to the E. U. model which requires the parent companies (universal banks) to also be operating holding companies. / Law, Faculty of / Graduate

Regulators and the general public frequently advocate for higher-quality disclosure policies to reduce information asymmetry. Research and anecdotal evidence documents sizable benefits to firms that maintain high quality disclosure. This thesis explores the costs and benefits of changing disclosure quality from the perspective of the financial analysts, a sophisticated user group. This thesis presents a comprehensive view of analysts’ evaluations of disclosure quality. I investigate capital market reaction when firms experience a sustained decrease in analyst disclosure ratings. The results demonstrate that firms with deteriorating disclosure experience negative consequences, consistent with increasing information asymmetry. However, the magnitude is not as large as expected given the benefits enjoyed when disclosure quality improves. Given that firms that allow their disclosure quality to decline give up benefits they previously enjoy, I investigate why they allow this decline to occur. The deterioration is negatively associated with the interaction between capital demand and expected earnings performance implying that when firms require capital, but are expecting poor future earnings, they are more likely to permit a deterioration to occur. Declines are also associated with the occurrence of various disruptive events that imply greater uncertainty about the firm. These firms have a strong demand for external capital which they satisfy by accessing private and public debt markets. Overall, firms that experience disclosure ratings declines are not a mirror image of firms that experience ratings increases. Finally, I investigate the association between the disclosure ratings and quantitative disclosure characteristics. The results indicate significant associations, consistent with the assumption that easily accessible and quantifiable disclosure measures are captured in analysts’ ratings of disclosure quality. This thesis adds to the literature by providing insight into how analysts evaluate disclosure quality and what managers are willing and able to deliver. The research documents attributes of disclosure quality that are regarded as important by financial analysts. While analysts are a key set of financial statement users, there are many other types of users. By understanding disclosure quality from a user's perspective, regulators and researchers are more able to anticipate the implications of a proposed change in disclosure rules. / Business, Sauder School of / Graduate

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