This study examines the factors that contributed to the failure of retrenched Telkom workers to start and run successful businesses after the company had provided them with start-up capital and also funds for training. Many of the factors contributing to the majority of Telkom retrenched employees not establishing businesses will be identified and recommendations that companies could implement in the future to limit the failure of businesses of retrenched employees will be made. The study was descriptive, exploratory and qualitative in nature. Semi-structured interviews and a survey questionnaire specifically developed for this study were used to gather data. The study was conducted on ex-employees of Telkom residing in and around the townships and suburbs situated on the western side of Johannesburg (Mogale City, Randfontein and Soweto). Telkom provided retrenched employees with funds to attend external training so that they could be equipped to start and run their own businesses. Subsequently, Telkom also provided start-up capital so that these employees could start small businesses after they had left the company. Although the funds were provided, most employees did not utilise them to start their businesses and the few that did access the funds and start businesses experienced the failure of their businesses within a very short period of time. Three major issues of concern were identified: many of these ex-employees did not utilise the funds that were allocated for training; many did not make use of the start-up capital and the majority did not start businesses. The study investigated the following issues: a) Why the retrenched employees did not make use of the funds allocated for training b) Why the ex-employees did not make use of the start-up capital c) Why the ex-employees did not start businesses d) Of those that did start businesses, why did they fail within such a short period of time? The findings of the study confirm that most of the retrenched employees did not access either the training or the start-up funds. Detailed reasons for why the funds were not made use of are given and recommendations are also made for what the company should do in future if deciding to embark on a similar exercise. / Business Management / M. Tech. (Business Administration)

The thesis documents findings of a study conducted to develop a project based financial management system (PBFMS) whose role was viewed as a contributor to the successful delivery of projects leading to improved financial performance of small and medium construction enterprise (SMCEs). In particular, the PBFMS was viewed as a facilitator {function) for the efficient and effective conduction of the strategic management, project planning and control processes. Thus an adequate PBFMS was seen as one which, facilitates the efficient and effective delivery of projects with a view to provide enhanced enterprise performance. In pursuit of this aim, theory and practices relating to the development, operation and use of a PBFMS were investigated and analysed from both literature and field work leading to findings being reported in the thesis. In addition, the actual financial management systems of SMCEs were investigated to determine the extent to which their attributes match those of the proposed PBFMS model. The motivation for embarking on the study was brought about by three aspects observed in Botswana. Firstly, was the frequently documented poor delivery of projects, that is, for a sustained period of time, projects were being delivered beyond stipulated times, above agreed cost, and below specified quality. In some worst scenarios, projects were being abandoned at various stages execution but before completion. Secondly, the investigation was also prompted by the frequent financial failures of enterprises that were being recorded in the construction industry. Thirdly, the conduct of the proprietors of the construction enterprises was also frequently circumspect, particularly in matters relating to financial management. Thus in pursuing the study, a number of premises were made. Firstly, the financial management systems of the SMCEs were considered inadequate to fulfil their functions, that is, they were incapable of facilitating the strategic management, project planning and control process. It was also speculated that management of SMCEs were not committed to the PBFMS i.e. they did not participate, get involved and did not comply with the policies regarding the planning, developing, and operation of financial management systems. As a result, PBFMS were unable to play their role of facilitating to the successful delivery of projects for improved contribution to the financial performance of SMCEs. The second premise was that financial models available are either too generic to guide SMCEs in financial management matters or the strategic component is not linked to the operational plans to execute the strategy. For those which are meant for construction enterprises, they normally prescribe practices for project planning and control without including the strategic element and vice versa. In essence there is a gap in each of the models available for use by the SMCEs. It is the closing of this perceived gap in knowledge that the results of the thesis contribute in finding a solution to the mentioned problem. Thus the study aimed at answering two research questions: (i) Do SMCEs have adequate PBFMS that facilitate the effective delivery of projects for enhanced financial performance? and (ii) Is there a relationship between the adequacy PBFMS and poor performance of SMCEs? To facilitate the answering of these two question two hypothesis were formulated namely: Hoi: The PBFMS of SMCEs are adequate to facilitate the delivery of projects; and Ho2: The adequacy of the PBFMS is positively correlated with the performance of SMCEs. To test the two questions a research process was planned and executed in several steps. Firstly, a survey strategy using the questionnaire was selected as the most appropriate method to provide a snap shot of the existence of attributes of PBFMS and to investigate associated practices relating to their development and operation. The method was considered more appropriate and effective in gathering large data in a short space of time in line with the doctoral time framework. Construction enterprises registered with Public Procurement and Asset Disposal Board (PPADB) for building and civil work in classes A, B, C and D were surveyed. The internal quantity surveyor, estimator or accountant were requested to respond on matters relating PBFMS on behalf of the SMCEs. The sampling frame from which the SMCEs considered for study were obtained from the two government departments which work closely with PPADB, the Department of Building and Engineering Services (DBES) and Department of Roads (DR). The sample sizes for each group category (small and medium) were determined using Krajcie and Morgan (1970) table. Stratified and systematic random sampling was used to select the identity of the members to form a sample fro study from the sampling frame. The second step was to design the questionnaire to probe the three aspects identified as constituting the PBFMS namely the strategic management; project planning and control; and management commitment. Essentially the questionnaire sought to investigate the knowledge, tools, techniques, practices, opinions and attitudes of those who design, develop, operate and use the PBFMS in the SMCEs. To ensure a high quality design, the questionnaire was given to experts in the subject area to provide some comments on its suitability and was also piloted on four enterprises. Data collected was analysed using mainly the SPSS software and involved application of various statistical techniques including cross-tabs, ratio analysis, ttests and correlational tests. A total of 101 completed questionnaires were received, made up of 55% and 46% small and medium enterprises, respectively. The demographic profile of SMCEs confirmed some of the expected results, for example, majority (59%) of the respondents were owner/managers confirming the dominance of the owner in SMCEs. Majority of SMCEs (59%) were more than 9 years old, with medium enterprises being more mature (60% older than 9 years) than the small sized enterprises (49% older than 9 years). Majority (56%) of SMCEs had 10 or more employees, with medium sized enterprises having more employees (75% with 10 or more) than the small sized enterprises (42% with 10 or more). SMCEs performed more of building work alone (48%) than both building and civil work (48%) or maintenance (11%) and no enterprise performed civil work (0%) alone. Majority of SMCEs (65%) acted as main contractors as opposed to sub-contractors, though as expected sub-contracting was seen more in small (20%) than medium (10%) enterprises. Lastly, the public sector (central and local authorities) provided majority (65%) of the SMCEs jobs. However, if parastatals which are wholly owned by government were added, the public sector job market adds up to 73% (65%+8%). The testing of the major two major hypothesis resulted in the following conclusion. The results indicated that the first hypothesis was supported, that is, in a majority of SMCEs operating in Botswana the PBFMS were found to be adequate in facilitating the delivery of projects. The results were therefore not in agreement with the basic premise made at the commencement of the study. In view of the finding, it suggests that SMCEs in Botswana have adequate systems that support the efficient and effective project planning and control. Secondly, management is committed to the 'welfare' of the PBFMS in terms of complying and supporting their development and operation. However, like any human endeavour, there are weaknesses in the PBFMS, for example, they were found inadequate in facilitating the strategic management process, including lack of linking the process to the operational process in order to execute the strategy. They were also found weak in one of the most crucial process of project management; that of project control. The second major investigation showed a weak link between the adequacy of a PBFMS and performance. Secondly, the results also indicated that the SMCEs which had adequate PBFMS performed better than their counterparts. The first results were not surprising since the cause of poor performance were shown as three pillars (business environment, client/representatives and enterprise factors). However, the second results emphasise that SMCEs with adequate PBFMS posted better performance than their counterparts with inadequate systems. In this way the role of PBFMS in contributing to better performance was illustrated by the results. Some recommendations are proposed resulting from the findings and how to achieve a deeper understanding of the subject. Firstly, SMCEs should pay more attention to matters pertaining to strategic management to ensure a long-term view of their enterprises. Secondly, when a strategic plan is developed, it must be implemented through operational plans as a means of executing the strategy. Thirdly, concerted effort should made in ensuring that the projects are controlled as it is the only way to achieve sustained profitability and satisfied customers. Fourthly, as a way of providing a deeper understanding of the subject, it is suggested a longitudinal study could be undertaken to yield a more encompassing investigation than a cross sectional study which captured only one business cycle of the industry (down turn). Lastly, the study could be replicated in another industry with a similar profile like the construction industry in Botswana, for example, Namibia or/and the study could include large enterprises to provide means of comparing the different profiles of enterprises. / Business Management / D. B. L.

This thesis comprises three essays that analyze financial and non-financial aspects of firm and industry dynamics. The first essay investigates the evolution of a cohort of entrants during their first ten years of life. The study looks at the distributions of sales, assets, employment and debtasset ratio for these firms over time and compares how these distributions change relative to distributions for incumbent firms. Entrants are smaller in terms of employees, assets and sales, but have a higher debt-asset ratio when compared with incumbents. These differences lessen over time because entrants have higher growth rates and smaller entrant firms have higher failure rates than compared to larger entrants. The second essay investigates whether long-term growth of a firm is independent of initial financial structure. I look at a panel of Canadian retail and manufacturing firms born in 1985. The analysis involves a two-part testing process. The first part tests whether firm growth exhibits initial size dependence. The growth process for retail firms exhibits initial size dependence, while the growth process for manufacturing firms does not. The second part looks at whether growth of ten-year old manufacturing firms is independent of initial debt-asset ratio. The result rejects independence with the finding that age ten conditional size of a manufacturing firm has a non-monotonic relationship with initial debt-asset ratio. The final essay examines whether Gibrat's law holds for groups of Canadian firms operating in manufacturing and retail sectors. Gibrat's law holds when firm growth and variability of growth are independent of firm size and firm growth is independent across time. Firm growth and variability of growth depend on size for each set of firms, which leads to violations of Gibrat's law. The source of these two violations is not survival bias, since the violations occur with the inclusion or exclusion of failing firms. A further violation is that negative growth persistence exists. Finally, I look at possible failure because of age effects. I examine a group of new firms with a common age and find the violations continue to occur for this group. / Arts, Faculty of / Vancouver School of Economics / Graduate

The collapse of Enron and its aftermath has put unprecedented focus on the accounting profession and its role in the self-regulatory system.

Over 35 years of gross economic mismanagement and business failures led Liberia's gross domestic product to collapse by 90% in less than two decades. As a result of a general lack of business skills, up to 80% of Liberian small-business entrepreneurs fail in business beyond the first year. Based on the theory of constraints, the purpose of this exploratory multiple case study was to explore the business skills that Liberian small-business entrepreneurs used to succeed in business beyond the first year. Data came from semistructured face-to-face interviews with 5 central regional Liberian small-business entrepreneurs who had succeeded in business beyond the first year. Participant observation, the use of company documents, and the use of member checking allowed for methodological triangulation and verification of the themes. Analysis of data involved using pattern-matching technique and date coding to evaluate, organize, code, and analyze the raw data. There were 3 prominent themes that emerged among entrepreneurs during data analysis: business knowledge, bookkeeping, and pricing skills. The data from the results indicated, within this particular context, Liberian small-business entrepreneurs used business skills for knowledge, finance, and marketing. Focusing on these practices may lead to increased profit and business success beyond the first year for other Liberian small-business entrepreneurs. The findings from the study could provide mechanisms for social change by giving Liberian small-business entrepreneurs additional ideas for using their business skills in their businesses. Furthermore, the findings may aid the Liberian communities to create training programs and curriculums for numerous Liberian colleges and institutions for future Liberian small-business owners.

South African company law has provided for the rescue of financially distressed companies since 1926 when the statutory procedure of judicial management was introduced by the Companies Act 46 of 1926. Unfortunately, judicial management has never been regarded as a successful corporate rescue procedure and for most of its existence it has been severely criticised on many grounds. The Companies Act 61 of 1973 that replaced the Companies Act 46 of 1926 did very little to improve this situation and judicial management remained underutilised. As a result, the Companies Act 71 of 2008 now introduces two newly-created corporate rescue procedures in the form of business rescue proceedings and the compromise with creditors. This study analyses judicial management and the new corporate rescue procedures to establish whether the identified weaknesses of judicial management have been adequately and effectively addressed in the new procedures. A comparative study with similar procedures in England and Germany is undertaken to determine whether the South African legislature has delivered on its promise to create a system of corporate rescue that will meet the needs of a modern South African economy. Several weaknesses in the new procedures are identified and a number of recommendations are made to improve the relevant provisions and to assist in providing South African company law with an efficient and acceptable corporate rescue regime. / Mercentile Law / LLD (Mercentile Law)

Thesis (MBA)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: Against the backdrop of recent co-operative challenges, it may not be very pragmatic to paint a euphoric picture of things in the world of co-operatives. The distaste from co-operative scamp will continue for some time but, despite all that has happened in the recent past, co-operative activity particularly in the rural context will remain the answer to poverty in the rural areas. The spirit and principles that lead to the formation of co-operatives make sense and have a global appeal. If they are applied in properly structured and well managed environments, they can add value towards the improvement of the quality of lives in the rural communities. This work explains the failure, hopes and fears, potential and inadequacies of the co-operative effort in the Limpopo Province. The recommendations made by the researcher are linked to the data of the study and should not be read as bland generalisations. The new economic outlook in the province makes it all the more imperative that an understanding of the individual initiative should be reinforced by co-operative struggle in the rural areas where no other option seems to be more promising. The Limpopo Province will benefit from big irrigation projects to be implemented in the various districts. All well-wishers of co-operatives focus their attention on the future potential and try to forget the bitterness of the past. Any significant success in co-operatives in Limpopo Province will send good signals everywhere in South Africa. / AFRIKAANSE OPSOMMING: Teen die agtergrond van die onlangse koöporasie uitdagings, kan dit dalk uiters pragmaties klink om 'n euforiese siening in die wêreld van koöporasies te skilder. Die teensin in koöporasie-ongerymdhede sal nog vir 'n geruime tyd voortduur, maar ten spyte van alles wat in die verlede gebeur het, bly samewerking, veral in die plaaslike konteks, die antwoord vir die armoede in die platteland. Die geesdrif en beginsels wat lei tot die ontstaan van koöperasies maak sin en het wel 'n algemene trefkrag. Indien hulle in behoorlike strukture, en goed bestuurde omgewings toegepas word, kan hulle waarde tot die verbetering in die lewensgehalte van gemeenskappe in die landelike gebiede voeg. Hierdie navorsing verteenwoordig die mislukking, hoop, vrese, potensiaal en ongelykhede van koöporasiepogings in die Limpopo Provinsie. Die aanbevelings wat deur die navorser gedoen word, is gekoppel aan die inligting van die studie en behoort nie as veralgemenings gesien te word nie. Weens die nuwe ekonomie uitkyk in die provinse is dit noodsaaklik dat die inisiatief van die individu versterk word, deur die samewerking stryd in die platteland gebiede. Die Limpopo Provinsie sal baat vind by groot besproeiingsprojekte in die verskillende distrikte. Alle voorstanders van koöporasie-aksie moet op die pontensiaal vir die toekoms fokus en die griewe van die verlede probeer vergeet. Enige noemenswaardige kooporasie aksie in Limpopo Provinsie sal goeie seine wyd en syd stuur.

Thesis (MBA (Business Management))--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: Fidentia became an active player in the South African financial services industry in 2005, only a few years since its inception. This was achieved through aggressive take-overs and a favourable public image boosted by employing known sports personalities and sponsorships of various sports teams, charities and other events. The Fidentia group seemed to go from strength to strength under the leadership of Mr. Arthur Brown assisted by his senior management team of which none more prominent than Mr. Graham Maddock. The group’s main business is Fidentia Asset Management (FAM) which, during 2003 and 2004, secured two of the biggest clients in Fidentia’s history. In 2003 the Transport Education Training Authority (TETA) invested R200,3 million and R1,2 billion of the Mineworkers Provident Fund was placed under its’ management in 2004. The Fidentia group was placed under final curatorship on 27 March 2007, based on reports by the then provisional curators and the Financial Services Board which claimed that their inspectors could not trace R680 million of almost R2 billion under the management of FAM. The analysis of the unfolding Fidentia case will show that without proper strategic planning and management, as well as adherence to suggestions on good corporate governance stakeholders’ risk exposure can be increased. NOTE: The information available till end August was analysed. / AFRIKAANSE OPSOMMING: Fidentia was teen 2005 ‘n aktiewe speler in die Suid-Afrikaanse finansiële dienste industrie, slegs ‘n paar jaar nadat dit gestig is. Dit is bereik deur aggresiewe oornames en ‘n publieke beeld wat versterk is deur bekende sportpersoonlikhede aan te stel en verskeie sportspanne, liefdadigheidsorganisasies en ander gebeurlikhede te borg. Die Fidentia groep het skynbaar van krag tot krag gegaan onder die leierskap van Mnr. Arthur Brown, ondersteun deur sy senior bestuurspan waarvan niemand meer prominent as Mnr. Graham Maddock. Die groep se hoofbesigheid is Fidentia Asset Management (FAM) wat gedurende 2003 tot 2004 twee van die grootste kliënte in Fidentia se geskiedenis verseker het. Gedurende 2003 het die “Transport Education Training Authority (TETA)” R200,3 miljoen by FAM belê en R1,2 biljoen van die “Mineworkers Provident Fund” is in 2004 onder FAM se bestuur geplaas. Die Fidentia group is op 27 Maart 2007 onder finale kuratorskap geplaas gebasseer op verslae deur die destydse voorlopige kurators en die Finansiële Dienste Raad wat beweer het dat hul inspekteure nie R680 miljoen van die amper R2 biljoen onder FAM se bestuur kon opspoor nie. Die analise van die Fidentia saak soos dit ontvou, sal wys dat sonder behoorlike strategiese beplanning en bestuur, asook die voldoening aan voorstelle van goeie korporatiewe bestuur belanghebbendes se blootstelling aan risiko kan verhoog. NOTA: Die inligting beskikbaar tot einde Augustus 2007 is ontleed.

Thesis (MBA (Business Management))--University of Stellenbosch, 2008. / ENGLISH ABSTRACT: To date, there has been significant research completed on the topic of corporate financial distress. Two pioneering researchers in the field of predicting financial distress was Beaver in 1966 and Altman in 1968. More recent research, based on companies listed on the JSE has been that of Steyn-Bruwer and Hamman (2006). This project, based on the latter authors’ work, has been formulated with one main research objective and two subordinate research objectives. The main research objective is to prove that different modelling techniques provide better prediction accuracies than others. The two subordinate research objectives are firstly to prove that there is a difference in the overall predictive accuracy if the data (provided by Steyn-Bruwer and Hamman) is subdivided according to “year before failure” and not according to economic period and secondly to prove that more optimised, independent variables would provide a better overall predictive accuracy. This research report summarises several significant papers on the topic; and draws the conclusion that research on financial distress is fragmented with very little consensus on any of the major definitions, assumptions and findings. In order to contextualise these differences; this research report defines and discusses corporate financial distress and considers the major issues associated with the field of research. An interesting observation from the literature survey was the fact that existing literature does not readily take consideration of the number of Type I and Type II errors made. As such, this research report introduces a novel concept (not seen in other research) called the “Normalised Cost of Failure” (NCF) which takes cognisance of the fact that a Type I error typically costs 20 to 38 times that of a Type II error. In order to satisfy the main research objective several different modelling techniques were selected based on their popularity in the literature surveyed. They are: Multiple Discriminant Analysis (MDA), Recursive Partitioning (RP), Logit Analysis (LA) and Neural Networks (NN). A summary of each of the different techniques is provided in Chapter 4 of this research report. The research by Steyn-Bruwer and Hamman forms the departure point for this research and their work is summarised in Chapter 5 of this report. Chapters 6, 7 and 8 use the data from Steyn-Bruwer and Hamman along with the above mentioned modelling techniques to verify the main and subordinate objectives. In terms of the main research objective, the results of these chapters show that the different analysis techniques definitely produce different predictive accuracies. Here, the MDA and RP techniques correctly predict the most “failed” companies; and consequently have the lowest NCF. This research report also shows that LA and NN provide the best overall predictive accuracy. In terms of the first subordinate research objective; this research shows that using the year before failure rather than the economic period as a subdivision provides superior predictive accuracy. With regard to the second subordinate research objective: there is no difference in the predictive accuracies if the independent variables are further optimised. These results were disappointing and consequently disprove the second subordinate objective that widening the number of input variables actually improves the predictive accuracy. In fact, the results indicate that the information contained in the independent variables seems to saturate after the most important (key predictor) independent variables have been included in the model. It is important to take cognisance of the fact that each predictive technique has its own strength and weakness. It is proposed by the author that the strengths and weaknesses of these predictive techniques be combined to provide a better overall predictive methodology. / AFRIKAANSE OPSOMMING: Heelwat betekenisvolle navorsing oor die onderwerp van maatskappye se finansiële verknorsing is tot op hede voltooi. Twee baanbreker-navorsers op die gebied van vooruitskatting van finansiële verknorsing was Beaver in 1966 en Altman in 1968. Meer onlangse navorsing, gebaseer op maatskappye wat op die JSE genoteer is, was dié van Steyn-Bruwer en Hamman (2006). Hierdie navorsingsverslag, gebaseer op die voorgenoemde outeurs se werk, is geformuleer met een hoofnavorsingsdoelwit en twee ondergeskikte navorsingsdoelwitte. Die hoofnavorsingsdoelwit is om te bewys dat verskillende modelleringstegnieke beter voorspellingsakkuraatheid as andere het. Die twee ondergeskikte navorsingsdoelwitte is, eerstens, dat daar ʼn verskil is in die oorhoofse voorspellingsakkuraatheid as die data (verskaf deur Steyn-Bruwer en Hamman) onderverdeel word volgens die “jaar voor mislukking” eerder as volgens die ekonomiese tydperk; en tweedens, om te bewys dat meer geoptimiseerde, onafhanklike veranderlikes kan lei tot ʼn beter oorhoofse voorspellingsakkuraatheid. Ten einde hierdie verskille te konseptualiseer, het hierdie navorsingsverslag finansiële mislukkings van maatskappye bespreek en gedefinieer en aandag geskenk aan die belangrikste aspekte geassosieer met die navorsingsveld. ʼn Interessante waarneming uit die literatuurstudie was die feit dat die huidige literatuur selde indien enige, oorweging skenk aan die aantal Tipe I- en Tipe II-foute wat gemaak word. As sulks het hierdie navorsingsprojek ʼn nuwe begrip (nog nie in ander navorsing gesien nie) ontwikkel, wat beskryf word as die “Genormaliseerde Kostefaktor”; wat die feit dat ʼn Tipe I-fout tipies 20 tot 38 maal die koste van ʼn Tipe II-fout beloop, in ag neem. Ten einde te voldoen aan die hoofnavorsingsdoelwit is verskillende modelleringstegnieke wat op grond van hul gewildheid in die literatuur voorgekom het, gekies. Hulle is: Meervoudige Diskriminantanalise (MDA), Herhalende Verdeling (RP), Logit-Analise (LA) en Neurale Netwerke (NN). ʼn Opsomming van elk van hierdie verskillende tegnieke word in Hoofstuk 4 van hierdie navorsingsverslag verskaf. Die navorsing wat deur Steyn-Bruwer en Hamman gedoen is, vorm die vertrekpunt van hierdie navorsing en hulle werk is gevolglik in Hoofstuk 5 van hierdie verslag opgesom. Hoofstukke 6, 7 en 8 gebruik die data van Steyn-Bruwer en Hamman tesame met die bovermelde modelleringstegnieke ten einde die hoof- en ondergeskikte doelwitte te bewys. In terme van die hoofnavorsingsdoelwit, het die resultate van hierdie hoofstukke getoon dat die verskillende analitiese tegnieke definitief verskillende voorspellingsakkuraatheid oplewer. Hier het die MDA- en RP-tegnieke die grootste aantal mislukte maatskappye korrek voorspel, en gevolglik die laagste Genormaliseerde Kostefaktor gehad. Die navorsingsverslag toon ook dat LA en NN die beste oorhoofse akkuraatheid van voorspelling het. In terme van die eerste ondergeskikte navorsingsprobleem het hierdie navorsing getoon dat, om die jaar voor mislukking te gebruik as onderverdeling, eerder as die ekonomiese tydperk, beter voorspellingsakkuraatheid het. Wat die tweede ondergeskikte navorsingsdoelwit betref, is daar bevind dat daar geen verskille in die voorspellingsakkuraatheid bestaan as die individuele veranderlikes verder geoptimaliseer word nie. Hierdie resultate was teleurstellend en het gevolglik die tweede ondergeskikte probleem, naamlik dat as die aantal inset-veranderlikes sou vergroot word, dit die vooruitskattingsakkuraatheid behoort te kan verhoog, verkeerd bewys. Tewens, die resultate het getoon dat die inligting soos vervat in die onafhanklike veranderlikes klaarblyklik versadiging bereik nadat die belangrikste (hoof-vooruitskatter) onafhanklike veranderlikes in die model opgeneem is. Dit is belangrik om kennis te neem van die feit dat elke vooruitskattingstegniek sy eie sterk en swak punte het. Die skrywer stel dus voor dat hierdie sterk- en swakpunte gekombineerd gebruik word om ʼn beter oorhoofse vooruitskattingsmetodologie daar te stel.

Univ., Diss.--Hamburg, 2005. / Literaturverz. S. [415] - 446.