Orientation: Over the years, the increase in executive remuneration in both the private sector and state-owned entities (SOEs) has been the subject of intense discussions. The poor performance of some SOEs with highly remunerated executives begs the question whether chief executive officers (CEOs) in South African SOEs deserve the high levels of remuneration they receive. Research purpose: The main purpose of the study was to determine whether there is a relationship between CEOs’ remuneration and company performance in South Africa’s Schedule 2 SOEs. Motivation for the study: A greater understanding of the relationship between CEO remuneration and organisational performance would expand knowledge when developing optimal CEO remuneration systems to ensure sustainability of SOEs in the South African context. If a relationship exists, it could justify the high remuneration received by CEOs. Research design, approach, and method: This quantitative, longitudinal study, conducted over a nine-year period, collected secondary data from the annual reports of 18 Schedule 2 SOEs. The primary statistical techniques used in the study included were OLS multiple regression analysis and correlational analysis on a pooled dataset. Main findings/results: The primary finding was that there is a relationship between CEO remuneration and company performance (mainly an inverse relationship), with no consistent trend between the constructs. Turnover appears to be an important component, as it was the most stable measure of company performance during the study period. The results indicate that the CEOs’ remuneration continued to increase, even when the SOEs were performing poorly. Practical managerial implications: Since the study focused on the relationship between CEOs’ remuneration and company performance, it may aid policymakers in forming new rules and regulations that would help improve the country’s economic performance while attracting international investors. Contribution/value-add: The study provides new knowledge to the limited research available on SOEs in South Africa. Further, this research focused on three different components of CEOs’ remuneration, thereby shedding more light on the relationship between their remuneration and company performance. / Business Management / PhD (Management Studies)

Abstract in Zulu, English and Afrikaans / This study examined the consequences of Principal-Agent and Corporate Governance interactions within South Africa’s FTSE/JSE Top40 listed companies from 2008 to 2016. The study’s objectives were to examine the prevalence of Principal-Agent and Corporate Governance problems, to ascertain potential costs of these problems, to establish their socio-economic consequences, and evaluate the effectiveness of the governance codes. The study is anchored in Principal-Agent theory. Mixed methods methodology was employed, specifically Concurrent and Exploratory Sequential Mixed Methods design logics. The main findings include that, 23.91% of sample companies experienced Principal-Agent and Corporate Governance problems- significantly exceeding the study’s expectations that negligible governance problems exist and reveals the pervasiveness of these problems; executive compensation plays a bigger role in exacerbating Principal-Agent and Corporate Governance problems than expected and often considered in governance mechanisms; multi-billion rands potential costs are ascribed to Principal-Agent and Corporate Governance problems incurred by principals; unjustifiable salary inequalities resulting in other inequalities that build social mistrust; and there is limited conviction that current governance codes are effective. This study’s contributions include; proposing an executive remuneration model that considers governance of the company in determining executive compensation; formulating a governance index calculated based on King III and King IV recommendations to standardise the measurement of the quality of governance in companies; the salary Gini was used to establish compensation gaps and red-flag potential Principal-Agent problems and flaws in governance systems; and used value at risk procedures to quantify potential Principal-Agent and Corporate Governance costs. The main theoretical implications of the study’s findings are; agency theory needs extension to capture socio-economic costs and not only focus on the principal; remuneration models should consider the executive’s company governance and social and economic egalitarianism; flexibility of ‘comply or explain’ should subordinate socio-economic consequences, suggesting a hybrid approach which makes certain governance code provisions compulsory; and finally, behavioural finance theories should be used in governance research for better insights. / Lolu cwaningo lwacubungula futhi lwahlolisisa imiphumela yokuxhumana phakathi kwesimo seNhloko ne-Ejenti, i-Principal-Agent, (lapho umuntu eqoka omunye ukuba athathe izinqumo kanye/noma izinyathelo egameni lakhe) nokuPhathwa nokuLawulwa Kwenkampani, ezinkampanini ezingama-40 ebezikleliswe phezulu ohlwini lwe-FTSE/JSE eNingizimu Afrika kusukela ngowezi-2008 kuya kowezi-2016. Izinhloso zalolu cwaningo kwabe kuwukubheka ukuthi zivamise kangakanani futhi zisabalele kangakanani izinkinga eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani ukuze kutholakale ukuthi zingakanani izindleko ezibangelwa yilezi zinkinga, nokuthola umthelela walokhu kwinhlalomnotho, kanye nokuhlola ukuthi zisebenza kahle kangakanani izinkambiso zokuphathwa nokulawulwa kwezinkampani. Lolu cwaningo lwakhelwe phezu kwethiyori yeNhloko ne-Ejenti. Kwasetshenziswa izindlela zocwaningo ezixubile, ikakhulukazi izindlela ezixubile zokuhlola kusetshenziswa izinyathelo ezenziwa kanyekanye noma ngesikhathi esisodwa kanye nezinyathelo ezilandelanayo. Okusemqoka okwatholakala ocwaningweni kubandakanya nokuthi izinkampani okwenziwa kuzona ucwaningo ezingama-23.91% zahlangabezana nezinkinga eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani – okuyinani elingaphezulu kakhulu kwalokho obekulindelekile ocwaningweni, ngoba phela kwakulindeleke ukuthi zibe yingcosana kakhulu izinkinga ezikhona eziphathelene nalokhu, kepha-ke ucwaningo lwaveza ukuthi lezi zinkinga zixhaphakile impela; imiholo yabaphathi abakhulu bezinkampani idlala indima enkulu ekubhebhethekiseni izinkinga eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani kunalokho obekulindelekile futhi esikhathini esiningi lokhu akuyona neze into evamise ukubhekisiswa uma kwenziwa izinqubo zokuphatha nokulawula; zibalelwa kwizigidigidi zamarandi izindleko ezingena kuzona izinhloko zezinkampani okucatshangwa ukuthi zibangelwa yizinkinga eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani; ukungalingani ngokwemiholo, ngaphandle kwesizathu esizwakalayo salokhu, okuyinto eholela kokunye futhi ukungalingani, okudala ukungathembani emphakathini; futhi kuncane kakhulu ukuqiniseka nokukholelwa ekutheni zisebenza kahle izinkambiso zokuphatha nokulawula ezikhona njengamanje. Igalelo lalolu cwaningo libandakanya isiphakamiso semodeli yemiholo yabaphathi abakhulu ebhekisisa nodaba lokuphathwa nokulawulwa kwenkampani ngenkathi kucutshungulwa udaba lwemiholo yabaphathi abakhulu; ukuhlanganiswa kwenkomba yokuphathwa nokulawulwa kwenkampani ebalwa ngokususela kwizincomo ze-King III kanye ne-King IV zokusetshenziswa kwesikali esifanayo sokukala ikhwalithi yokuphathwa nokulawulwa kwezinkampani; isikali semiholo se-Gini sasetshenziswa ukuhlonza amagebe akhona phakathi kwemiholo kanye nokuxwayisa ngezinkinga ezingahle zivele eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani kanye namaphutha nobuthakathaka obukhona ezinhlelweni zokuphatha nokulawula; futhi kwasetshenziswa izinqubo zezikali zobungozi bokulahlekelwa kwenkampani ukubala inani lezindleko okungenzeka kungenwe kuzona ngenxa yezinkinga eziphathelene neNhloko ne-Ejenti kanye nokuPhathwa Nokulawulwa Kwenkampani. Imibonongqangi evele kulokho okutholakale ocwaningweni yilena elandelayo; ithiyori echaza ubudlelwano phakathi kwenhloko ne-ejenti kumele yelulwe ukuze ifake phakathi nezindleko eziphathelene nenhlalomnotho futhi lokhu kungagcini nje kuphela kwinhloko; amamodeli omholo kumele abhekisise nendlela ephethwe ngayo inkampani ngabaphathi abakhulu kanye nemfundiso yokulingana kwabantu bonke ngokwenhlalo nangokomnotho; ukuguquguquka ‘kokuthobela umthetho noma ukuchaza’ (‘comply or explain’) kumele kube ngaphansi uma kuqhathaniswa nemiphumela yenhlalomnotho, ukuze kuqhanyukwe nendlela exubile ephoqelela ukusetshenziswa kwezinkambiso zokuphatha nokulawula ezithile; kanti futhi, okokugcina, ocwaningweni lokuphatha nokulawula kumele kusetshenziswe amathiyori aphathelene nesimo somqondo sabaphathi ngenkathi bethatha izinqumo nezinyathelo eziphathelene nokuphathwa nokusetshenziswa kwezimali ukuze kuqondakale kangcono konke okuphathelene nalokhu. / Hierdie studie het van 2008 tot 2016 die gevolge van die wisselwerking tussen hoofagent- en korporatiewe regering in Suid-Afrikaanse FTSE/JSE Top 40- genoteerde maatskappye bestudeer. Die oogmerke was om die voorkoms van probleme met hoofagent- en korporatiewe regering te ondersoek; die moontlike koste en die sosio-ekonomiese gevolge daarvan te bepaal; en die doeltreffendheid van die regeerkodes te evalueer. Hierdie studie berus op die hoofagentteorie. Gemengde metodes is as metodologie gebruik, in die besonder gelyklopende en verkennende, opeenvolgende metodes. Die belangrikste bevindings is dat 23,91% van steekproefmaatskappye probleme met hoofagent- en korporatiewe regering ondervind. Dit is beduidend hoër as die persentasie wat verwag is, en ʼn aanduiding van hoe diepgaande hierdie probleme is. Die vergoeding van uitvoerende beamptes is ʼn groter oorsaak van die probleme met hoofagent- en korporatiewe regering as wat verwag is en waarvoor in regeermeganismes voorsiening gemaak word. Die potensiële koste, wat miljarde rande beloop, word gewyt aan die probleme met hoofagent- en korporatiewe regering wat prinsipale hulle op die hals haal. Onregverdigbare salarisverskille lei tot ongelykheid wat sosiale wantroue wek. Hierbenewens is daar bedenkinge oor die doeltreffendheid van die huidige regeerkodes. Die bydrae van hierdie studie behels ʼn vergoedingsmodel vir uitvoerende beamptes wat korporatiewe regering in ag neem. Hierdie studie formuleer ʼn regeerindeks wat op King III- en King IV-aanbevelings berus, en die meting van die gehalte van korporatiewe regering standaardiseer. Verskille in vergoeding, potensiële rooivlag-hoofagentprobleme en gebreke in regeerstelsels is met behulp van die salaris-gini bepaal. Waarde-op-risikoprosedures is gebruik om die potensiële koste van hoofagent- en korporatiewe regering te kwantifiseer. Die belangrikste teoretiese implikasie van die bevindings is dat die agentskapsteorie uitgebrei moet word sodat die sosio-ekonomiese koste vasgestel word, en daar nie alleen op die hoofsom gekonsentreer word nie. Afgesien hiervan moet vergoedingsmodelle rekening hou met ʼn uitvoerende beampte se korporatiewe regering en met maatskaplike en ekonomiese egalitarisme. Voorts moet die sosio-ekonomiese gevolge ondergeskik wees aan die buigsaamheid van “voldoen of verduidelik”. Dit impliseer ʼn hibridiese benadering wat die bepalings van sekere regeerkodes verpligtend maak. Ten slotte behoort finansieringsgedragteorieë in regeernavorsing aangewend te word om groter insig te verkry. / Business Management / D. Phil. (Management Studies (Finance))

As stakeholders start holding companies accountable for the non-financial impacts of their operations, it is increasingly recognised that the parties to whom companies are accountable extends beyond shareholders to include other stakeholders as well. Around the world, companies are responding to stakeholder demands by voluntarily reporting on their corporate social responsibility (CSR) performance. Unscrupulous companies may however, be tempted to use green-wash to make false claims relating to their CSR performance in order to reap the associated benefits. This information risk may be ameliorated through the independent assurance of CSR disclosures, enhancing the confidence of stakeholders in its veracity. Reporting companies usually voluntarily obtain independent assurance on their CSR performance. However, in South Africa, independent CSR assurance is a regulatory requirement for all JSE-listed companies, albeit on an ‘apply or explain’ basis. This thesis, which utilises a mixed methods research approach incorporating both qualitative and quantitative components, seeks to identify and understand the characteristics of the emerging independent CSR assurance phenomenon. In this regard, the empirical component of the study was conducted in three phases: in the first phase companies’ CSR disclosures and assurance reports are examined; in the second phase survey responses from companies are reviewed; and in the third phase interviews with CSR assurors are analysed. In this thesis, the extent to which companies provide independent assurance on their CSR disclosures is established; the providers of independent CSR assurance are identified; the reasons that companies select certain CSR assurance providers are explored; the reasons that companies provide independent assurance on their CSR disclosures are determined; the CSR assurance practices of the various CSR assurors are reviewed and compared; and the primary standards and/or frameworks used in CSR assurance engagements are identified. A conclusion is reached that although independent CSR assurance is a de facto mandatory requirement for JSE-listed companies, only 26% of the companies had their CSR disclosures independently assured. Despite its de facto mandatory nature, the study found that South African CSR assurance practices remain largely unregulated, resulting in a diversity of CSR assurors; utilising various assurance approaches, standards and practices. In this thesis, it is argued that these inconsistencies undermine the purpose of CSR assurance and reduce stakeholder confidence. It is accordingly proposed that the identified deficiencies could be addressed through the regulation of CSR reporting and assurance. An oversight/regulatory body should be established to prescribe the competencies that CSR assurors should possess; to develop appropriate CSR assurance engagement standards; and to clearly articulate the scope that CSR assurance engagements should cover; with which all CSR assurors should comply. / Auditing / D. Com. (Auditing)

Many of the countries all over the world, with different experiences, own state-owned enterprises (SOEs). Even though these enterprises are useful socioeconomic policy instruments, evidence from most of these countries shows that these enterprises do not fulfil their mandates, especially when wholly owned, and in developing and corrupt countries. As a result, owning SOEs has become a trend rather than a means to an end. Several models, from privatisation, then back to renationalisation, have been attempted in mitigating the numerous problems of these enterprises. These models did not mitigate the problems of SOEs as they were, in summary, mere models backed by powerful advocates and favoured by the turn of socio-political and economic cycles at that time. However, irrespective of the numerous problems of SOEs, these enterprises can still be useful socioeconomic policy instruments now, as in the past. Using multiphase exploratory mixed methods, this thesis explores ways of mitigating the problems of SOEs by developing a best practice structural corporate governance model that takes into account various aspects of corporate governance of SOEs. In this context, the empirical part of this study was conducted in three phases. The first phase analyses the contents of relevant enterprises’ documents. The second phase analyses survey responses from purposively selected expert respondents from sample SOEs. The third phase analyses interviews from purposively selected expert participants from sample SOEs. Thus, this thesis determined the problems of SOEs, detailed the problem implications, identified contingent areas of the models considered vis a vis problems explored, extended the role of government, developed a conceptual framework, established useful models for organising and owning SOEs as a way of mitigating the identified problems, analysed the thesis statement and thesis propositions and developed a structural corporate governance model for SOEs. The study found that the holding company model, both wholly and partly owned, appears to be better in mitigating corporate governance problems of SOEs, compared with the traditional wholly and partly owned models, with the partly owned model of the holding company model a better model compared with the other models. Thus, this thesis harnesses the stages detailed above into contributing to the field of scholarly knowledge by harnessing the stages described into developing a structural corporate governance model that takes into account relevant aspects of corporate governance of SOEs and related enterprises. Following this, this thesis proposes that, in addition to emulating the developed model, establishing a supervisory board that constitutes representatives from public and private role players, as well as other external assurance providers and regulatory inspectors is key in mitigating problems of SOEs, especially in developing countries. This thesis contributes to the field of scholarly knowledge by synthesising disjointed literature on public entrepreneurship, developing and demonstrating a theoretical comparative sampling method, extending the role of government, theoretically developing a conceptual framework, dimensional theory, as well as developing a structural corporate governance model. / Business Management / D. Phil. (Accounting Sciences)

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)

Abstracts in English, Zulu and Afrikaans / The stakeholder instrument (SI) is a conceptual framework developed to complement integrated reports for value creation, transparency and accountability. It is a tool developed specifically for stakeholders to have an understanding of the integrated reports and assist them in making informed decisions. Currently, integrated reports fail to provide meaningful insights into organisations’ performance and its strategy focus, thus making it difficult for stakeholders to understand the contents of the integrated reports. The research illuminated pertinent variables synonymous with value creation. The study involved analysis of data from 42 companies trading on the Johannesburg Stock Exchange and administration of 80 questionnaires on randomly selected respondents. Significant and positive correlations between value creation and the attributes namely integrated reports; corporate governance and financial measures were established. Contributions: The results of the empirical study provide significant perceptions into the process of stakeholder value creation. The study established the significance of complementing the integrated reports in creating stakeholder value. The study, further, authenticated the stakeholder instrument as a distinct antecedent of value creation. The study further illuminated the attributes that matter to the stakeholders and assist with effective decision-making and value creation. / Ithuluzi lababambiqhaza wuhlaka olwenzelwe ukweseka nokuthasisela phezu kwemibiko edidiyelwe ukuze kuthuthukiswe ukuhlomula nokubhekelelwa kahle kwababambiqhaza (value creation), ukusebenza ngokusobala kanye nokuphendula. Leli yithuluzi elenzelwe ukuqinisekisa ukuthi ababambiqhaza bayayiqonda imibiko edidiyelwe (integrated reports) futhi libalekelele ukuthi bathathe izinqumo eziphusile emva kokuhlonyiswa ngalo lonke ulwazi olungaba wusizo kubona. Njengamanje, imibiko edidiyelwe iyahluleka ukuhlinzeka ngolwazi olubonisa ukuqonda okujulile ukusebenza kwezinhlangano kanye namaqhingasu ezigxile kuwona izinhlangano, futhi-ke lokho kwenza kube nzima kubabambiqhaza ukuqonda ulwazi oluqukethwe yimibiko edidiyelwe. Ucwaningo lwahlonza ama-variable afanelekile ahlobene kakhulu nokuhlomula nokubhekelelwa kahle kwababambiqhaza. Ucwaningo lwabandakanya ukuhlaziywa kwedatha eyaqoqwa ezinkampanini ezingama-42 ezihweba ku-Johannesburg Stock Exchange futhi kwakhishwa amaphepha-mibuzo angama-80 anikezwa ababambiqhaza abaqokwa ngaphandle kokulandela indlela ethile ehlelekile (randomly), ukuze bawaphendule. Ucwaningo lwaveza ukuba khona kobudlelwano obunohlonze phakathi kokuhlomula nokubhekelelwa kahle kwababambiqhaza kanye nezicibunjalo zenkampani, okusho, imibiko edidiyelwe, ukuphathwa nokulawulwa kahle kwenkampani kanye nezinyathelo eziphathelene nezimali. Ulwazi olusemqoka olwakhiqizwa wucwaningo: Imiphumela yocwaningo oluphathekayo futhi olusekelwe phezu kwezinto ezibonakalayo (empirical study) ihlinzeka ngolwazi olunohlonze oluzolekelela ekuqondeni inqubo yokuhlonyuliswa nokubhekelelwa kahle kwababambiqhaza. Ucwaningo lwabonisa ukubaluleka kokweseka kanye nokuthasisela phezu kwemibiko edidiyelwe enqubweni yokuhlonyuliswa nokubhekelelwa kahle kwababambiqhaza. Ithuluzi lababambiqhaza laqinisekiswa futhi njengethuluzi elicacile eliwusizo olukhulu ekuhlonzweni kobudlelwano obuphathelene nokuhlonyuliswa nokubhekelelwa kahle kwababambiqhaza. Futhi ngaphezu kwalokho ucwaningo lwahlonza izicibunjalo ezibonwa ngababambiqhaza njengezibalulekile futhi ezilekelelayo ekuthathweni kwezinqumo ngobunyoninco kanye nasekuhlonyulisweni nokubhekelelwa kwababambiqhaza ngendlela efanele. / Die belanghebberinstrument is 'n konseptuele raamwerk wat ontwikkel is om geïntegreerde verslae vir waardeskepping, deursigtigheid en aanspreeklikheid te komplementeer. Dit is 'n instrument wat spesifiek ontwikkel is sodat belanghebbers die geïntegreerde verslae kan verstaan en om hulle te help om ingeligte besluite te maak. Tans bied geïntegreerde verslae nie betekenisvolle insig in organisasies se prestasie en hulle strategiefokus nie wat dit dus moeilik maak vir belanghebbers om die inhoud van geïntegreerde verslae te verstaan. Die navorsing identifiseer toepaslike veranderlikes wat sinoniem is met waardeskepping. Die studie het ontleding behels van die data van 42 maatskappye wat op die Johannesburg Aandelebeurs sake doen en die administrasie van 80 vraelyste aan respondente wat ewekansig geselekteer is. Beduidende en positiewe korrelasies tussen waardeskepping en die attribute, naamlik geïntegreerde verslae, korporatiewe beheer en finansiële maatstawwe, is geskep. Bydraes: Die resultate van die empiriese studie verskaf beduidende persepsies van die proses van belanghebberwaardeskepping. Die studie het die belang van die geïntegreerde verslae om belanghebberwaarde te skep, daargestel. Die egtheid van die belanghebberinstrument is ook as 'n kennelike antesedent van waardeskepping bewys. Die studie het ook die attribute geïdentifiseer wat vir belanghebbers saak maak en wat help met effektiewe besluitneming en waardeskepping. / Graduate School of Business Leadership / D.B.L.

South Africa has institutionalised the application of combined assurance’s Three Lines of Defence Model (TLDM) through the 3rd and 4th editions of the King Code. Albeit, failure of the TLDM has been documented in recent corporate governance scandals in South Africa. These failures point to the inadequacy of the model in its theoretical underpinnings that place more emphasis on compliance than moral development (acts vs virtue ethics). In this research study, the adequacy of the TLDM was assessed, as well as its effectiveness in dealing with Agency. It was further sought to establish whether competitive advantage could be created through TLDM implementation in South African organisations and to quantify in relative terms, the scope for competitive advantage creation through TLDM application. A mixed research methodology (convergent design) was used to gather quantitative and qualitative insights from governance practitioners in South Africa (concurrently over a cross-sectional time frame). 204 survey respondents and 11 interviewees participated in the study. A statistically valid model for creation of competitive advantage was developed from the quantitative findings while a framework for competitive advantage was developed from the qualitative findings. The findings of the study confirm the inadequacy of the TLDM that it lies in poor implementation by South African organisations than in the model’s theoretical underpinnings. It was concluded that competitive advantage can be created though TLDM implementation in South African organisations, and the scope for creation of competitive advantage is relatively significant. The implementation of TLDM with compliance fixation mediates the creation for competitive advantage through TLDM, while moral development focus in TLDM implementation moderates the relationship between TLDM Adequacy in ethics underpinnings and competitive advantage creation. While the inadequacy of the TLDM was established through this study, the support for the TLDM was still overwhelming, although support for additional levels as contemplated in the Five Levels of Assurance Model (FLAM) was considerable. / Graduate School of Business Leadership / D.B.L. (Strategy and Governance)

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)

Corporate reporting has changed from the traditional form of reporting which covered financial information only to the modern form of reporting called integrated reporting which covers, financial, corporate governance and sustainability information. The levels of corporate disclosure among corporate entities within any country and between countries are thus likely to have been affected by this change. Motivated by the IMF/World Bank (2006) that observed that corporate reporting improved in Botswana during the previous five years, without indicating what the actual level was or how it compares with that of other countries; this study sought to determine the actual level of corporate disclosure of two samples of companies: 23 companies listed on the Botswana Stock Exchange (BSE) and the top 40 companies (by market capitalisation) that are listed on the Johannesburg Stock Exchange (JSE). The study also shows how the two levels of corporate disclosure compare. This study is qualitative and descriptive by design; and involves analysing the content of the corporate annual report of each company in a sample using a corporate disclosure checklist; and determining the level of corporate disclosure for each sample of companies. The process ends with a comparative analysis of the levels of corporate disclosure of the companies from the two samples. Consistent with the IMF/World Bank report, the study revealed that the level of corporate disclosure in the BSE sample was low but increasing. However, the increase in the level of corporate disclosure varied from sector to sector and the specific information items. The study also showed that integrated reporting was not practised at all by the companies in the BSE sample. Comparatively, companies in the JSE sample had a higher level of corporate disclosure than that of companies in the BSE sample; and the rate of increase was much higher than that in the BSE sample. The study further found integrated reporting practiced in the entire JSE sample, although at different levels. xi This study also noted that although in principle it is sensible to benchmark from the best, other fundamental factors need to be considered before carrying out the exercise. Furthermore, the study indicated that the prevalent low level of corporate disclosure in the BSE sample was evidence that the corporate reporting environment in which the BSE lies was not conducive for the theories of corporate disclosure to fully explain corporate disclosure. A number of recommendations were made including establishing corporate disclosure indices and creation of a corporate environment in which all the theories discussed in the study can explain corporate disclosure. This study contributes to the literature on cross-country corporate disclosure and cautions companies with low levels of corporate disclosure not to embark on benchmarking without creating an environment conducive for corporate reporting. The study also offers useful insights to policymakers in Botswana and South Africa; and stimulates further research on cross-country corporate disclosure. The academia too will be able to identify areas for further research from this study. / Business Management / M. Com. (Accounting)

Proper records management plays a significant role in the auditing process, risk management and wider corporate governance. Despite this role, in South Africa, many governmental bodies are issued with disclaimer reports every year by the Auditor-General of South Africa (AGSA) due to a lack of supporting documentation. This problem is exacerbated by the exclusion of records management from the criteria for a sound financial management infrastructure in many governmental bodies. The other dilemma is that some records such as financial records, personnel records and electronic records usually fall outside the jurisdiction of the organisation’s records manager. Utilising the King Report III as a framework, this study sought to develop a framework to embed records management practices into the auditing process in the public sector of South Africa, with a view to entrench a culture of clean audits. The study relied on mixed methods research (MMR), with the quantitative study conducted first through informetrics analysis of audit reports, while the qualitative paradigm was used to substantiate numerical data. Data collection adopted a multi-approach with four key sources of data: a questionnaire, interviews, literature review and publicly available data from the consolidated general reports of AGSA. The study revealed that most governmental bodies have established internal audit units, audit committees and records management units, which did not work in unison. In most governmental bodies records management did not form part of the audit scope and records management professionals were not part of the audit committees. As a result, most governmental bodies continued to receive negative audit opinions from AGSA. The study recommends that records management community should utilise auditing and risk management as a springboard to propel records management to the new heights. A further empirical study on the role of auditing and risk management in records management that embraces both the private and public sectors is recommended. / Information Science / D. Litt. et Phil. (Information Science)