Most studies view transaction costs and constraints separate in the mean-variance framework. As such, I evaluate the benefits of holding and turnover constraints in the presence of transaction costs on Swedish Asset Returns. In theory, the benefits should be limited when transaction costs are included in the portfolio rebalancing problem. By using the model developed by Mitchell and Braun (2003), my results indicate that there are benefits of holding constraints in the mean-variance optimization. The main issue with the long-only portfolio is its lack of diversification. The strategy allocates the majority of the investment in 15 out of 100 assets. By imposing holding constraints, the portfolio becomes more diversified while reducing turnover volume and increasing Sharpe ratio. I find that the homogenous 1/N holding constraint increases monthly Sharpe ratio performance by 50 percent over the entire sample. However, the results are not consistent over all samples and not statistically significant. Further, turnover constraints only marginally increase performance, which more likely originates from the increase in diversification.

Självledarskap beskrivs vara en process där en individ utifrån sin egen förmåga påverkar och influerar sig själv för att kunna hantera olika situationer som den utsätts för. Tidigare forskning visar på att självledarskapsstrategierna har en inverkan på inre och yttre arbetstillfredsställelse. Forskningen visar även på att arbetstillfredsställelse har en inverkan på personalomsättningen. Syftet med den här studien är att få en förståelse om anställdas självledarskap inverkar på personalomsättningen i restaurangbranschen genom att analysera arbetstillfredsställelse som en länk mellan självledarskap och personalomsättning. Restaurangbranschen är en bransch med hög personalomsättning som står inför utmaningen, hög tillväxt i framtiden. En av anledningarna till den höga personalomsättningen är för att de anställda inte har nått önskad arbetstillfredsställelse. Genom att en individ hanterar sitt självledarskap leder det till en förbättring av individens arbetsprestation och inställning gentemot sitt arbete. En kvantitativ metod i form av en enkätstudie genomfördes för att undersöka vår problemställning. Totalt genomfördes utskicket av 302 enkäter med 102 besvarade enkäter, svarsfrekvensen blev då 34 %. Resultatet visade inte på någon direkt inverkan mellan självledarskap och personalomsättning. Däremot stämde resultatet överens med teorierna om sambanden mellan självledarskap och arbetstillfredsställelse samt arbetstillfredsställelse och personalomsättning. Det tyder på att det finns en indirekt inverkan mellan självledarskap och personalomsättning. / Self-leadership is described as a process where individuals, based on their own ability influences themselves to handle different situations they are exposed to. Previous research indicates that self-leadership strategies have an impact on intrinsic and extrinsic job satisfaction. The research also shows that job satisfaction has an impact on employee turnover. The purpose of this study is to gain an understanding if employees’ self-leadership affects the employee turnover in the restaurant industry by analyzing job satisfaction as a link between self-leadership and employee turnover. The restaurant industry is an industry with high employee turnover, which is facing the challenge of high growth in the future. One of the reasons for the high employee turnover is because the employees have not reached the desired job satisfaction. An individual who deals with its own self-leadership leads to an improvement of job performance and attitude towards its work. A quantitative method in the form of a questionnaire study was conducted to investigate the problem. A total of 302 questionnaires were sent out with 102 completed questionnaires, the response rate was 34 %. The results did not show any direct impact between self-leadership and employee turnover. However, the result agreed with the theories that there is a relationship between self-leadership and job satisfaction and between job satisfaction and employee turnover. This indicates that there is an indirect impact between self-leadership and employee turnover.

The mining industry has been under enormous pressure in the past few years. particularly with issues around production and costs. As far as human capital is concerned. the gold industry has seen a high degree of shrinkage in personnel. In order to be able to cope with the continuous challenges faced by the mining industry, mining organisations need leaders of the highest standards. Due to the challenge of increasing productivity levels, empowerment is required within the gold mining industry. The correct application of empowerment may increase efficiency and effectiveness inside an organisation. Having employees with the appropriate levels of organisational commitment facilitates the change management process and ensures its successful implementation. Organisations value commitment among their employees because it is typically assumed to reduce withdrawal behaviours, such as lateness, absenteeism and turnover. The objective of this study was to determine the relationship between leader empowering behaviour, organisational commitment and turnover intention within the mining industry. The research method consists of a literature review and an empirical study. A cross-sectional survey design was used to collect the data. An availability sample (N = 388) was taken from mining employees. The Leader Empowering Behaviour Questionnaire (LEBQ), Affective Organisational Commitment Scale (AOC), Turnover Intention Scale (Tl) and a biographical questionnaire were administered. The statistical analysis was carried out with the help of the SPSS program as well as the AMOS program. / Contents: Leader empowering behaviour -- Organisational commitment -- Turnover intention -- Work performance -- Productivity / Thesis (M.A. (Industrial Psychology))--North-West University, Potchefstroom Campus, 2007

Gold mining in South Africa has played a significant role in the economic development of the country over the past 120 years. The continued focus on productivity, recruitment and consolidation in the South African gold mining industry will result in a decline in production. Much of the decline can be attributed to natural attrition as the industry has moved from a mass employer of limited, contract, unskilled labour, to an employer of more permanent, mostly semi-skilled or skilled labour. The objective of this research was to investigate the reliability of measuring instruments of social support, role overload (qualitative and quantitative), job satisfaction and turnover intention for employees in the mining industry. Further objectives included empirically determining whether social support has a moderating effect on the relation between role overload and job satisfaction and turnover intention. A cross-sectional survey design was used. A random sample was taken from a South African mining company (N=250). Gender and age were included as control variables. Individuals on Paterson grading E band to C Upper (managers) were part of the sample. Five measuring instruments were administrated. Descriptive statistics and inferential statistics were used to analyse the data. The results obtained for the five scales proved the measuring instruments to be reliable. The results show that when an employee feels that his/her work is more than he/she can accomplish in the time available (quantitative role overload), the employee will most probably also feel that his/her work requires skills, abilities and knowledge beyond that of their own (qualitative role overload). It is also indicated that social support from the supervisor increases the employee's positive attitude or pleasurable emotional state towards his/her job or job experience (job satisfaction), as well as heightens the probability of social support from colleagues. Furthermore, the more positive the employee's attitude towards the job, the less the intention to stop working will be (turnover intention). This intention to stop working will also be less when social support from the supervisor is more and/or when the employee experiences less feelings that his/her work is more than he/she can accomplish in the time available. Turnover intention was predicted by social support from supervisor. Job satisfaction was predicted by role overload (quantitative) and social support from supervisor. By way of conclusion, recommendations for future research are made. / Thesis (M.A. (Industrial Psychology))--North-West University, Potchefstroom Campus, 2007.

Contemporary South African higher education institutions have undergone many drastic changes in recent years with regard to the demographic composition of students and organisational structures. Huge demands in terms of transformation have been placed on these institutions while they have simultaneously been transforming from former Technikons to Universities of Technology. This causes staff to be faced with major changes which affect all aspects of the institution. The objective of this research was to investigate whether role overload, job satisfaction and locus of control could be used to predict turnover intention of employees in a higher education institution. Further objectives included empirically determining whether locus of control had a mediating effect between role overload, job satisfaction and turnover intention. A cross-sectional survey design was used and an availability sample was taken from a South African higher education institution («=210). Five measuring instruments were administered as part of a larger questionnaire. Descriptive statistics were used to analyse the data and a series of regressions was used to test for the hypothesised mediating effect. The reliability coefficients obtained for the scales indicated that the Cronbach Alpha coefficients for qualitative role overload, job satisfaction and turnover intention were acceptable; however, those for quantitative role overload and locus of control were below the recommended cut-off mark. The results showed that there was a strong relationship between the dimensions of overload, indicating that the feeling of having too much to do in the time available is accompanied by the feeling that individuals do not have the skills to complete their required tasks. Furthermore, it was found that if employees feel that they have too much to do and that they do not possess the skills to complete tasks, they will be dissatisfied with their jobs. Both quantitative and qualitative role overload contributed to the participant's thoughts of leaving the institution and it was concluded that a satisfied employee is less likely to think of leaving the organisation. Locus of control had minimal relationships with quantitative and qualitative role overload, as well as with turnover intention. Locus of control was, however, found to be related to job satisfaction. Locus of control was found to be a poor predictor of turnover intention and did not mediate the relationship between role overload and job satisfaction on the one hand, and turnover intention on the other. It was concluded that job satisfaction was the strongest predictor of turnover intention. By way of conclusion, recommendations were made both for the organisation and for future research. / Thesis (M.A. (Industrial Psychology))--North-West University, Potchefstroom Campus, 2008.

With recognition of turnover as a financial issue increasing, companies are searching for strategies to confront the problem in ways that generate a good return on investment. Successfully managing turnover is a matter of understanding its costs, causes and cures. In service–oriented industries such as banking, people are considered among the most important assets of a firm. Forward–thinking banks are looking for ways to leverage people, along with processes and technology, to achieve their objectives. Employee expectations are changing, too, forcing organisations to place a greater emphasis on talent management strategies and practices. Employees rarely quit on the spot. Generally, an employee becomes dissatisfied and stays disengaged for quite a while before leaving. However, from the moment of disengagement, most employees are no longer as dedicated or productive as they once were. Nearly all the real reasons why employees quit, fall into four basic categories of human needs: the need for trust, the need for hope, the need to feel competent, and the need to feel valued and trustworthy (Branham, 2005). Thirteen possible reasons for resignations were identified within the banking sector, namely: desire to take on a new challenge, bad relationship with management, bad relationship with colleagues, lack of opportunity for advancement, lack of appreciation (perception of recognition), better compensation and benefits elsewhere, long working hours, lack of control over work or working environment, travelling distance to work, personal satiation at home, lack of training and support to reach potential, the department is conducive to black advancement, the bank embraces diversity for all. Most of the employees that resigned voluntary did so because of lack of opportunity for advancement, a desire to take on a new challenge and a lack of appreciation. The statistical analysis revealed that amongst position title, there is a statistical significance for the bank embraces diversity for all as a reason for resignation and that the effect between junior managers and team leaders has a large effect. Analysis by gender differences shows that there is a statistical significance for personal situation at home as a reason for resignation and that females feels stronger about this than males. When looked at the difference between ethnic group, there are two reasons that are statistical significant namely, better compensation elsewhere and long working hours. Africans, coloureds and white‘s size effect is large, meaning that Africans and coloureds feel stronger about leaving for better compensation elseware than whites. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2012.

With South Africa currently experiencing a skills shortage, companies need to take job insecurity, job satisfaction and social support into consideration as part of their retention strategy. There is also tremendous pressure being placed on organisations to improve their performance and to become increasingly competitive, which has resulted in job insecurity becoming a reality in South Africa. A petro-chemical company in South Africa was studied to determine the possible relationships between job insecurity, job satisfaction, social support, tenure, intention to leave and qualifications. The participants (N=l 84) included process controllers, senior process controllers, group leaders/foremen, section leaders and area leaders of various business units of the petro-chemical company. A quantitative study was conducted using a cross-sectional survey design. Self-administered questionnaires were used which included the Job Insecurity Questionnaire (JIQ), The Turnover Scale, Social Support and the Job Satisfaction Scale. The statistical analysis included descriptive statistics, factor analysis, Pearson product-moment correlation coefficients as well as MANOY A and structural equation modelling. The statistical analysis included descriptive statistics, factor analysis, Pearson product-moment correlation coefficients as well as MANOVA and structural equation modelling. Results indicated there was no correlation between job insecurity and tenure, nor between qualifications and job insecurity. It was concluded that lower job satisfaction resulted in higher job insecurity and that higher job satisfaction resulted in lower levels of intentions to leave. There was a positive correlation between social support and job satisfaction. With these results and the model developed it would be possible for the company to adjust their retention strategy to achieve optimal results. / Thesis (M.A. (Industrial Psychology))--North-West University, Vaal Triangle Campus, 2010.

Organisations of today demand efficiency, rationality and personal sacrifice to achieve company goals and profit margins. The integral part that leader relations play in organisations is becoming more evident in the current economic climate. It is therefore vital that organisations focus on good relations in order to achieve engagement, resulting in lower levels of turnover intention. Organisations can be viewed as positive when leaders focus on the importance of people to enhance performance and employee wellness. The general objective of this study was to determine the relationship between leader member-exchange, role clarity, psychological empowerment, engagement and turnover intention. A specific financial institution within the Gauteng province was selected and regional managers, branch managers and consultants participated in the research. A cross-sectional survey design was used to collect data. The Leader-Member Exchange questionnaire, Role Conflict and Ambiguity Questionnaire, Measuring Empowerment Questionnaire, Engagement Questionnaire and Intention to- leave Scale were administered. Statistical analysis was carried out by means of SPSS and AMOS. Factor analysis indicated a one factor structure for LMX7, MRCAQ, WEQ, TIS and a four factors structure for MEQ. The scales all showed acceptable reliabilities. The results showed that LMX, role clarity, psychological empowerment, work engagement, and turnover intention were related. Role clarity mediated the relationship between LMX and psychological empowerment, while psychological empowerment mediated the relationship between role clarity and work engagement as well as turnover intention. / Thesis (M.A. (Industrial Psychology))--North-West University, Vaal Triangle Campus, 2011

With South Africa currently experiencing a skills shortage, companies need to take job insecurity, job satisfaction and social support into consideration as part of their retention strategy. There is also tremendous pressure being placed on organisations to improve their performance and to become increasingly competitive, which has resulted in job insecurity becoming a reality in South Africa. A petro-chemical company in South Africa was studied to determine the possible relationships between job insecurity, job satisfaction, social support, tenure, intention to leave and qualifications. The participants (N=l 84) included process controllers, senior process controllers, group leaders/foremen, section leaders and area leaders of various business units of the petro-chemical company. A quantitative study was conducted using a cross-sectional survey design. Self-administered questionnaires were used which included the Job Insecurity Questionnaire (JIQ), The Turnover Scale, Social Support and the Job Satisfaction Scale. The statistical analysis included descriptive statistics, factor analysis, Pearson product-moment correlation coefficients as well as MANOY A and structural equation modelling. The statistical analysis included descriptive statistics, factor analysis, Pearson product-moment correlation coefficients as well as MANOVA and structural equation modelling. Results indicated there was no correlation between job insecurity and tenure, nor between qualifications and job insecurity. It was concluded that lower job satisfaction resulted in higher job insecurity and that higher job satisfaction resulted in lower levels of intentions to leave. There was a positive correlation between social support and job satisfaction. With these results and the model developed it would be possible for the company to adjust their retention strategy to achieve optimal results. / Thesis (M.A. (Industrial Psychology))--North-West University, Vaal Triangle Campus, 2010.

Organisations of today demand efficiency, rationality and personal sacrifice to achieve company goals and profit margins. The integral part that leader relations play in organisations is becoming more evident in the current economic climate. It is therefore vital that organisations focus on good relations in order to achieve engagement, resulting in lower levels of turnover intention. Organisations can be viewed as positive when leaders focus on the importance of people to enhance performance and employee wellness. The general objective of this study was to determine the relationship between leader member-exchange, role clarity, psychological empowerment, engagement and turnover intention. A specific financial institution within the Gauteng province was selected and regional managers, branch managers and consultants participated in the research. A cross-sectional survey design was used to collect data. The Leader-Member Exchange questionnaire, Role Conflict and Ambiguity Questionnaire, Measuring Empowerment Questionnaire, Engagement Questionnaire and Intention to- leave Scale were administered. Statistical analysis was carried out by means of SPSS and AMOS. Factor analysis indicated a one factor structure for LMX7, MRCAQ, WEQ, TIS and a four factors structure for MEQ. The scales all showed acceptable reliabilities. The results showed that LMX, role clarity, psychological empowerment, work engagement, and turnover intention were related. Role clarity mediated the relationship between LMX and psychological empowerment, while psychological empowerment mediated the relationship between role clarity and work engagement as well as turnover intention. / Thesis (M.A. (Industrial Psychology))--North-West University, Vaal Triangle Campus, 2011