Financial stress is a condition that is becoming more prevalent in today’s society. Factors such as high debt levels, low savings and economic recessions all contribute to the financial stress experienced by people across all nations. Research has found that financial stress negatively affects employees’ performance at work. Quality employees play a vital role in the success of a business. As a result, employers should strive to ensure employees’ well-being. With these increasing pressures on personal finance and its interference on work, should management attempt to improve employees’ financial well-being? Management needs to be convinced that their actions can improve their employees’ financial well-being. This study established and measured the relationship that the subjective measures financial efficacy and satisfaction with remuneration have on personal financial well-being. A sample size of 9 057 employees from different sectors in South Africa was used. Data was analysed using Pearson correlation coefficients and multiple regression analysis. Three hypotheses were tested. Hypothesis 1: There is a relationship between satisfaction with remuneration and personal financial well-being. Hypothesis 2: There is a relationship between personal financial well-being and personal financial efficacy. Hypothesis 3: Personal financial efficacy moderates the relationship between satisfaction with remuneration and personal financial wellbeing. The study found that all three hypotheses were supported. Personal financial efficacy and satisfaction with remuneration were found to have a large positive relationship with personal financial well-being. The study also established that the relationship between satisfaction with remuneration and financial well-being was stronger in people with higher personal financial efficacy. It is argued that management can intervene with employees’ financial well-being by improving financial efficacy through financial literacy education and by improving their satisfaction with remuneration. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2014

The corporate governance set-up in South Africa has undergone fundamental changes during the past decade, with the country today being responsive to most corporate governance issues. South Africa should be complimented for its King Code on Corporate Governance, the Companies Act and Johannesburg Securities Exchange Listing Requirements which have significantly strengthened the country’s corporate governance framework. These legal instruments have been influential in limiting directors’ powers and regulating the way directors are remunerated as a way of achieving good corporate governance. The research discusses the South African corporate governance framework with particular focus on the legal and regulatory framework that seeks to regulate directors’ powers and remuneration. An evaluation of the extent to which the legal and regulatory framework restrains directors’ powers and curbs excessive remuneration is undertaken. Recommendations are then provided on how the existing framework can be improved to adequately and effectively regulate directors’ powers and remuneration so as to achieve good corporate governance. / Mercantile Law / LL.M.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / AFRIKAANSE OPSOMMING: Die doel van hierdie studie is om die huidige prestasiebestuurstelsel van die Universiteit van Stellenbosch te evalueer en om verbeterings aan te beveel. Die volgende navorsingsdoelwitte is dus bespreek: bepaal of uitsonderlike prestasie beloon word; stel vas of personeellede in die huidige prestasiebestuursproses glo en dit ondersteun; identifiseer die knelpunte in die prestasiebestuurstelsel van die Universiteit van Stellenbosch; bepaal die kenmerke van en vereistes vir doeltreffende prestasiebestuurstelsels; ontwerp ‘n model wat toesighouers in die toekoms as wegspringblok kan gebruik om prestasie as deel van hul daaglikse aktiwiteite te meet; bepaal die potensiële verwantskap tussen prestasie en vergoedingsvlakke; en bemagtig Menslike Hulpbronne om die vergoedingsbeleid konsekwent toe te pas. Eerstens word eietydse literatuur bestudeer om die verskil tussen prestasiebeoordeling en prestasiebestuur te bepaal. Beste praktyk vir prestasiebestuur word deur die literatuuroorsig geïdentifiseer sodat die Universiteit van Stellenbosch dit in die toekoms kan implementeer en sodat die slaggate waarin ander instansies getrap het, vermy kan word. Ander hoër onderwysinstansies word geëvalueer om bestaande stelsels ten volle te begryp en te bepaal waar die Universiteit van Stellenbosch kan verbeter. Data van die 2006-2007 en 2007-2008 prestasie-evalueringstydperke is gebruik om te bepaal of daar ‘n korrelasie is tussen individuele prestasiepunte en bonusse wat ontvang is. Laastens word ‘n elektroniese vraeboog aan alle permanente personeellede aan die Universiteit van Stellenbosch versprei word om te bepaal wat die huidige persepsie van prestasiebestuur by bogenoemde instansie is. Die resultate (verwys Tabel 4.4) toon aan dat die Universiteit van Stellenbosch as geheel nie aan die vasgestelde prestasiebestuurbeleid voldoen nie. Sommige personeellede wat ‘n prestasiepunt van 3 en laer behaal het, het ook bonusse ontvang. ‘n Bonus vir ‘n prestasiepunt van 3 kan nog regverdig word as ‘n erkenning vir harde werk. Die Universiteit van Stellenbosch streef ooreenkomstig sy vergoedingsbeleid daarna om ‘n verwantskap tussen prestasie en vergoeding te bewerkstelling deur tussen uitsonderlike, gemiddelde en ondergemiddelde presteerders te onderskei. Dit is duidelik dat die Universiteit van Stellenbosch se beleidsdokumente (vergoeding en prestasiebestuur) uitgevoer word en weldeurdag is. Opleiding, wat saam met opvoeding bevorder word, verseker ‘n hoë vlak van begrip vir prestasiebestuur, die ontwikkeling van die nodige vaardighede en waardering vir die waarde wat prestasiebestuur tot ‘n organisasie kan toevoeg. Die voorgestelde prestasiebestuursmodel (verwys Tabel 5.2) sal verseker dat behoorlike voorbereiding gedoen word (standaard werkprosedures en opleiding) met opvolgaksies (kritiek en hersiening) om te verseker dat die model saam met die organisasie groei. Die huidige prestasiebestuurproses (die hoe) is onsuksesvol. Aandag kan egter aan die proses geskenk word deur opleiding en heropleiding en deur meer finansiële hulpbronne beskikbaar te stel om te verseker dat gepaste verwantskap tussen prestasie en vergoeding geskep word. Verskeie prestasiebestuurprogramme (elektroniese weergawes) is beskikbaar. Dit is vir die toekoms uiters belangrik om elektroniese bestuursmetingsprogramme te implementeer en om die proses hierby aan te pas. Gereelde kommunikasie hou personeel ingelig en verseker dat die verskillende stadiums van prestasiebestuur plaasvind. Die idee dat prestasiebestuur alledaags en tydrowend is moet in ‘n kultuur van maklike en doeltreffende prestasiebestuur omskep word. / ENGLISH ABSTRACT: The aim of this study was to critically examine the current situation regarding the performance management system at Stellenbosch University and make recommendations for improvement. This was done by looking at the following research objectives: determine whether outstanding performance is rewarded; investigate whether staff members believe in and support the current performance process; identify barriers to the performance management system at Stellenbosch University; determine characteristics and requirements of effective performance management systems; design a model that can be used in future as a starting point for supervisors to measure performance as part of their daily activities; determine the potential link between performance and remuneration levels; and empower Human Resources to consistently enforce the remuneration policy. Firstly, contemporary literature was reviewed to understand the difference between performance appraisal and performance management. Best practices for performance management were identified through the literature review to ensure that Stellenbosch University implements those in future and to steer away from the pitfalls other institutions have experienced. Other higher education institutions were evaluated to fully understand what is in place and where Stellenbosch University can improve. Data from the 2006-2007 and 2007-2008 performance evaluation periods were used to determine whether a correlation exists between an individual’s performance mark and receiving a bonus. Lastly, an electronic questionnaire was distributed to all permanent employees of Stellenbosch University to determine the current perception of performance management at this institution. The results (refer Table 4.4) indicate that Stellenbosch University as a whole does not comply with the set policy regarding performance appraisal. There were employees who received performance v marks of 3 and below who also received bonuses. Performance marks of 3 can be justified and seen as a “thank you for your hard work”. In terms of Stellenbosch University’s remuneration policy, the University strives to establish a link between performance and remuneration by differentiating between outstanding, average and below average performers. It is clear that Stellenbosch University’s policies (remuneration and performance management) are in place and well thought through. Training, running concurrently with education, ensures a high level of understanding of performance management, the development of the required skills and an appreciation of the value that performance management can add to an organisation. The proposed performance management model (refer Table 5.2) will ensure that thorough preparation is done (standard working procedures and training), with a follow-up action (critique and revision), to allow this model to evolve with the organisation. The current performance management process (how) is not successful. However, it can be fully addressed through training and re-training, and by making more financial resources available to ensure an appropriate linkage between performance and remuneration. Several performance management programmes (electronic versions) do exist. Moving forward, it is vital to implement electronic measuring programmes in conjunction with the re-alignment of the process. Regular communication will keep employees informed and will ensure that the different stages of performance management take place. The idea that performance management is mundane and time-consuming must be changed to a culture of easy-to-do and effective performance management.

The corporate governance set-up in South Africa has undergone fundamental changes during the past decade, with the country today being responsive to most corporate governance issues. South Africa should be complimented for its King Code on Corporate Governance, the Companies Act and Johannesburg Securities Exchange Listing Requirements which have significantly strengthened the country’s corporate governance framework. These legal instruments have been influential in limiting directors’ powers and regulating the way directors are remunerated as a way of achieving good corporate governance. The research discusses the South African corporate governance framework with particular focus on the legal and regulatory framework that seeks to regulate directors’ powers and remuneration. An evaluation of the extent to which the legal and regulatory framework restrains directors’ powers and curbs excessive remuneration is undertaken. Recommendations are then provided on how the existing framework can be improved to adequately and effectively regulate directors’ powers and remuneration so as to achieve good corporate governance. / Mercantile Law / LL.M.

The purpose of this diploma thesis is to analyse certain aspects of the agreement on the performance of an office, a legal instrument with a long history in the Czech legal system. The foregoing type of agreement is regulated by the relevant provisions of the Act on Business Corporations (hereinafter the "ABC"). The paper focuses on the general definition of the agreement on the performance of an office, the subsidiary application of provisions relating to contract of mandate, as well as matters concerning the remuneration stemming from such agreements. The thesis is composed of an introduction, a main part comprising three chapters, and a conclusion. The individual topics make up chapters which are then divided into sub-chapters (the more extensive of which are further split into sections for the purposes of conciseness). The main conclusions of each chapter are summarised in a partial summary at the end of each chapter. The conclusion summarises all partial summaries and conclusions drawn from the thesis as a whole. The first chapter is introductory and defines the agreement on the performance of an office as a contract regulating the rights and obligations of a business corporation and a member of its body vis-à-vis each other. The terms of this type of agreement, the conclusion of which is not...

The thesis is dealing with the system of assessment of employees in a firm developing and producing trailer towing devices. The aim of this thesis is to suggest optimization arrangements and eventually recommodations for the improvement of this area of the company's human resource management. The theoretical part of the thesis characterizes the question of work motivation, system of assessment of employees, allocation of manpower, remuneration and further training and development of employees. The practical part of the thesis characterizes these areas of the personnel work in the company. Empirical research then discovers attitude of the employees towards the company's system of assessment. Results of the questionnaire examination are used for suggestion of optimization arrangements for the improvement of the system of assessment and strengthen work motivation and satisfaction of the company's employees.

This thesis deals with problems of employee satisfaction and various factors affecting it. The work consists of two parts, theoretical and practical. The theoretical part is devoted to the analysis of literature. Deals with different concepts and contexts that are important to employee satisfaction. The practical part is already focused on the specific characteristics of the staff at the company, ČSOB, a.s., having a major impact on employee satisfaction as a system of remuneration, incentive system, carrer growth opportunities, training and development and labor relations in enterprises. There is also an outside its own questionnaire, processing and evaluation of data and final discussion of results.

In view of levelling the playing field between foreign and local employers in the host country, the European Commission proposed in March 2016 to revise the Posting of Workers Directive (PWD) 96/71/EC. The amended PWD (EU) 2018/957, that was adopted mid-2018, introduces some significant changes in order to combat the shortcomings resulting from the original PWD, strengthening the importance of ensuring fair competition (between local and foreign employers) and improving the protection of workers. In a nutshell, the PWD aims at promoting the principle of equal pay for equal work in the same place, especially by extending the so-called hard nucleus of working conditions and introducing a provision for long-term postings. This new legislation will be implemented throughout the EU as of mid-2020. The following article aims to investigate the extent to which the changes demand national implementation from an Austrian point-of-view; the latter could serve as a guidance.

Die vorliegende Arbeit geht der Frage nach, ob und inwiefern sich die Biogasproduktion sowohl im Allgemeinen als auch im Speziellen unter den Richtlinien des EEG 2012 auf die Wettbewerbsfähigkeit anderer landwirtschaftlicher Produktionsverfahren auswirkt. Dafür werden innerhalb Niedersachsens vier Regionen auf Gemeindeebene identifiziert, die sich durch Produktionsschwerpunkte landwirtschaftlicher Tätigkeiten charakterisieren lassen. Hierunter fallen Milchviehhaltung, Veredlung in der Schweine- und Bullenmast, Ackerbau mit dem Fokus auf Kartoffelanbau und schließlich gemischter Ackerbau. Die Vorgehensweise und das Ergebnis dieser Einteilung sind als völlig neu zu bewerten und münden in jeweiligen Intensivregionen der entsprechenden Betriebsausrichtungen. Das Instrument der Betriebszweigauswertung wird herangezogen und anhand eines eigenen Modells angepasst. Dies ermöglicht, zwischen dem jeweils regional anzusiedelnden Verfahren und ansässiger Biogasproduktion die ökonomischen Vor- und Nachteile im Wettbewerb festzustellen. In einem zweiten Schritt gibt eine Betriebsleiterbefragung Aufschluss darüber, wie die Wettbewerbsfähigkeit seitens der Biogas- und Nichtbiogasbetreiber empfunden wird. Darüber hinaus fängt die Befragung die maximalen Faktorentlohnungen der Betriebsleiter ein. Somit ergänzen sich die objektive und subjektive Messung betrieblicher Wettbewerbsfähigkeit. Die Ergebnisse der vorliegenden Arbeit kommen wie erwartet zu dem Schluss, dass die Biogasproduktion in den von Viehwirtschaft gekennzeichneten Regionen Niedersachsens Wettbewerbsvorteile besitzt. Dieser Vorteil ist in der von Milchviehhaltung geprägten Region aber geringer als bislang angenommen. Während sich die Biogasproduktion mit gemischtem Ackerbau auf gesamtwettbewerblicher Augenhöhe befindet, sehen sich die Landwirte in der von Kartoffelanbau charakterisierten Region gegenüber Biogasbetrieben in einem Wettbewerbsnachteil, der allerdings objektiv nicht nachgewiesen werden kann. / This paper examines the question of whether and to what extent biogas production has an impact on the competitiveness of other agricultural production methods, both in general and in particular under the German Renewable Energy Act (EEG) 2012 guidelines. For this purpose, four regions at municipal level within Lower Saxony are identified which can be characterised by production focuses of agricultural activities. These include dairy farming, pig and bull fattening, arable farming with a focus on potato cultivation and finally mixed arable farming. The procedure and the result of this classification are to be considered as completely new and lead to the respective intensive regions of the respective operational orientations. The instrument of the branch analyses is used and adapted on an own model. This makes it possible to determine the economic advantages and disadvantages in competition between the respective regionally based process and the local biogas production. In a second step, a survey of farm managers provides information on how the competitiveness of biogas and non-biogas operators is perceived. In addition, the survey captures the maximum factor remuneration of the farm managers. Thus, the objective and subjective measurement of operational competitiveness complement each other. As expected, the results of the present study conclude that biogas production has competitive advantages in the regions of Lower Saxony characterised by livestock farming. However, this advantage is lower than previously assumed in the region dominated by dairy farming. While biogas production with mixed arable farming is on a level with overall competition, farmers in the region characterised by potato cultivation see themselves at a competitive disadvantage compared to biogas farms, which however cannot be objectively proven.

Esta dissertação tem o objetivo de analisar a figura dos juros sobre o capital próprio, especialmente para definir a sua natureza jurídica e adequada qualificação no âmbito dos acordos para evitar a dupla tributação. Para tanto, além de fazermos uma digressão sobre o histórico de tal figura e os motivos da sua instituição, visando entendê-la melhor, estudamos, sob a perspectiva do Direito Tributário e também do Direito Comercial, as diferentes formas de remuneração do capital financiado por meio de capital próprio e de capital de terceiros, quais sejam: os dividendos e os juros remuneratórios. Analisamos detalhadamente as regras tributárias aplicáveis ao pagamento de juros sobre o capital próprio e também aquelas que definem a sua forma de cálculo. Comparamos as particularidades dos juros sobre o capital próprio às figuras dos dividendos e dos juros remuneratórios, de modo a definir a sua natureza jurídica como espécie de remuneração de sócios, diversa dos dividendos. Criticamos alguns aspectos das correntes atualmente existentes sobre o assunto, justificando a nossa posição. Analisamos, também, a forma adequada de qualificação dos juros sobre o capital próprio nos acordos para evitar a dupla tributação, especialmente em relação à Convenção Modelo da Organização para a Cooperação e Desenvolvimento Econômico (OCDE). Ao final, concluímos que, a despeito de os juros sobre o capital próprio terem natureza de remuneração de sócios diversa da figura dos dividendos, para fins de aplicação dos acordos para evitar a dupla tributação, devem ser qualificados como dividendos. / This dissertation aims at analyzing the interest on equity, especially to define its nature and proper qualification within the treaties to avoid double taxation. For this purpose, in addition to the history of the interest on equity and the reasons that justified its creation, we study, from a Corporate Law and also Tax Law standpoint, the different kinds of remuneration of equity and debt, which is: dividends and interests. We also analyze in details the tax rules applicable to the payment of the interest on equity and the ones that provide for its calculus. We compare the specificities of the interest on equity with the dividends and interests, in order to define its nature as a kind of equity remuneration, which may not be associated to dividends. In this regard, we criticize specific aspects of the existing understandings on the issue, justifying our opinion. Moreover, we analyze the proper qualification of the interest on the equity within the treaties to avoid double taxation, in particular the Model Tax Convention of the Organisation for Economic Co-operation and Development (OECD). We conclude that, even though the interest on equity is a kind of equity remuneration, which is different from the dividends, for the purposes of applying treaties to avoid double taxation, it should be qualified as dividends.