Abstract in English, Zulu and Sepedi / The purpose of this study was to determine the impact of capital structure on the profitability of the Land and Agricultural Development Bank of South Africa (Land Bank). Both theoretical and empirical literature were reviewed in order to guide the empirical investigation of this study. In particular, the theories of financial intermediation, credit creation and fractional reserve formed the basis of this study. The capital structure theories that were examined included the pecking order theory, trade-off theory and Modigliani-Miller leverage irrelevance theory. In the literature, it was observed that profitable companies prefer using internal funds over debt or equity. To test the stated hypothesis that there is no relationship between capital structure and bank profitability, a quantitative research design with a case study approach was used, with the Land Bank as the unit of analysis. Using time series data for the period 1982 to 2015, multiple regression using the ordinary least squares method was applied to test the specified models. Preliminary data analysis was performed using trend analysis, descriptive statistics and Pearson bivariate correlation analysis. The study demonstrated that the relationship between capital structure and bank profitability was positive and statistically significant at a 95% confidence level when using only equity. However, inclusion of debt in the capital structure showed that capital structure, proxied by the debt-to-equity ratio, resulted in a negative relationship between capital structure and bank profitability, albeit statistically insignificant. It was concluded that the Land Bank requires an injection of equity to improve its performance. Alternative low-cost sources of funding to debt should be considered. The results of the study have policy implications for the Land Bank, regulators and potential investors. / Injongo yalolu cwaningo kwabe kuwukucubungula nokuthola umthelela wesimozimali sebhizinisi ekungeneni kwenzuzo eBhange Lokuthuthukiswa Komhlaba Nezolimo laseNingizimu Afrika (iBhange Lomhlaba). Kokubili, imibhalo yethiyori kanye nemibhalo esuselwe emaqinisweni abonakalayo naphathekayo, yabuyekezwa ukuze ihole futhi ilawule uphenyo olugxile emaqinisweni abonakalayo naphathekayo oluqondene nalolu cwaningo. Amathiyori ayisisekelo salolu cwaningo, ikakhulukazi, kwaba yi-financial intermediation, credit creation kanye ne-fractional reserve. Lawo mathiyori esimozimali sebhizinisi acutshungulwa abandakanya i-pecking order theory, trade-off theory kanye ne-Modigliani-Miller leverage irrelevance theory. Emibhalweni eyacutshungulwa, kwabonakala ukuthi izinkampani ezinenzuzo zincamela ukusebenzisa izimali zangaphakathi kunokusebenzisa isikweletu noma izabelokulingana (equity). Ngenhloso yokuhlola ihayiphothesisi ethuliwe yokuthi abukho ubudlelwano phakathi kwesimozimali sebhizinisi kanye nokungena kwenzuzo ebhange, kwasetshenziswa idizayini yocwaningo olukhwantithethivu ehambisana nendlela yokusebenzisa ucwaningo lwesigameko egxile ekuhlaziyweni kweBhange Lomhlaba. Ngokusebenzisa i-time series data yesikhathi esisukela kowe-1982 kuyofinyelela kowezi-2015, kwalandelwa i-multiple regression ngokusebenzisa i-ordinary least squares method ukuhlola amamodeli achaziwe. Uhlaziyo lwedatha olwandulelayo lwenziwa ngokusebenzisa uhlaziyo lwezimonkambiso (trend analysis), izibalomanani ezichazayo (descriptive statistics) kanye ne-Pearson bivariate correlation analysis. Ucwaningo lwabonisa ukuthi bukhona ubudlelwano obuphawulekayo phakathi kwesimozimali sebhizinisi kanye nokungena kwenzuzo ebhange futhi idatha yabonisa ukuthembakala okusezingeni elingama-95% uma kusetshenziswa izabelokulingana kuphela. Kodwa-ke ukufakwa kwesikweletu kwisimozimali sebhizinisi kwabonisa ukuthi isimozimali sebhizinisi, ngokusekelwa yizinga-silinganiso phakathi kwesikweletu nezabelokulinganisa, kwaholela ekutheni bungabi khona ubudlelwano obuphawulekayo phakathi kwesimozimali sebhizinisi kanye nokungena kwenzuzo ebhange, nakuba idatha mayelana nalokhu yabonisa ukungathembakali okuthile. Kwafinyelelwa esiphethweni sokuthi iBhange Lomhlaba lidinga ukuthi kufakwe izabelokulingana ngenhloso yokwenza ngcono ukusebenza kwalo. Kumele kwenziwe imizamo yokuthola eminye imithombo yezimali ehlukile futhi engambi eqolo. Imiphumela yocwaningo inemithelela ethile ephathelene nezinqubomgomo eqondene neBhange Lomhlaba, abalawuli kanye nalabo okungenzeka babe nesifiso sokutshala izimali. / Morero wa thutelo ye e be e le go laetša khuetšo ya matlotlo a kgwebo go bokgoni bja go hwetša dipoelo bja Panka ya Tlhabollo ya Naga le tša Temo ya Afrika Borwa (Land Bank). Dingwalo tša ditlhalošo tša diteori le tšeo dithutelo tša peleng di di hweditšeng di sekasekilwe go fa tlhahlo go dipoelo tša dinyakišišo tšeo di dirilwego peleng tša thutelo ye. Gabotsebotse, diteori tša mokgwa wa dipanka wa go tšea tšhelete ye e bolokilwego tša e adimiša, mokgwa wa dipanka wa go hlola dikadimo ka bontši le tsheketšo ya palophatlo ya tšhelete di bopile motheo wa thutelo ye. Diteori tša matlotlo a kgwebo tšeo di lekotšwego di akareditše teori ya mokgwa wa go kgetha methopo ya kadimo ya ditšhelete, teori ya go lekanyetša ditheko le ditefelokholego le teori ya Modigliani-Miller ya go re mokgwa wa go diriša tšhelete ye e adimilwego go bona dipoelo ga o ame boleng bja khamphani. Ka go dingwalo, go lemogilwe gore dikhamphani tše di ka hwetšago dipoelo di kgetha go diriša matlole a ka gare go ena le dikoloto goba bokaalo bjo bo šalago ka morago ga go ntšha dikoloto Go leka kakanyo ye e filwego ya gore ga go na tswalano gare ga matlotlo a kgwebo le bokgoni bja panka bja go hwetša dipoelo, tlhako ya nyakišišo ya go hwetša dikarabo go batho ka bontši ka mokgwatebelelo wa nyakišišo ye e dirilwego ka ga tiragalo e dirišitšwe, ka Land Bank bjalo ka yuniti ya tshekatsheko. Ka go diriša datha go ya ka tatelano ye e itšeng ya nako ya paka ya 1982 go iša go 2015, tlhahlobo ya tswalano gare ga mabaka a mabedi goba go feta ka go diriša mokgwa wa go fokotša palo ya disekwere e dirišitšwe go leka mehlala ye e šupilwego. Tshekatsheko ya datha ya mathomo e phethagaditšwe ka go diriša tshekatsheko ya taolelopele ya seo se tla diregago ka ditšhelete, mokgwa wa go sekaseka dipalopalo le tshekatsheko ya Pearson ya dipalo tše pedi go bona tswalano ya tšona. Thutelo e laeditše gore tswalano gare ga matlotlo a kgwebo le bokgoni bja panka go hwetša dipoelo go bile le ditlamorago tše botse le dipoelo tše di ka bago nnete ka kemo ya kgonthišo ya 95% ge go dirišwa fela bokaalo bjo bo šalago ka morago ga go ntšha dikoloto. Le ge go le bjalo, kakaretšo ya sekoloto ka go matlotlo a kgwebo go bontšhitše gore matlotlo a kgwebo, ao a laeditšwego ka tekanyo ya palomoka ya dikoloto go bokaalo bjo bo šalago ka morago ga go ntšha dikoloto, e hlotše tswalano ye e sa letelwago gare ga matlotlo a kgwebo le bokgoni bja panka go hwetša dipoelo, le ge e ka ba dipoelo tše di ka bago nnete. Go phethilwe ka go re Land Bank e nyaka koketšo ya bokaalo bjo bo šalago ka morago ga go ntšha dikoloto go kaonafatša tiro ye e swanetšwego go dirwa. Methopo ye mengwe ya tswala ya fase go dikoloto e swanetšwe go lebelelwa. Dipoelo tša thutelo di na le ditlamorago tša Molaotshepetšo wa Land Bank, balaodi le babeeletši ba ka moso. / Finance, Risk Management and Banking / M. Com. (Finance)

The rise of civil society organisations in South Africa is crucial to development as it contributes to the bridging of the communication gap between civil society and local government organisations and municipalities and promotes access to resources. The contribution of civil society organisations to development has been widely acknowledged as they are involved in service delivery, advocacy, innovation and poverty reduction initiatives. In spite of the development work done by civil society organisations in developing countries, they still face challenges in promoting development as poverty, inequality and unemployment persist. This research focused on the social capital approach as a strategy for the development of local communities in South Africa. The social capital approach involves increasing social stability and enhancement of development issues. Social capital relies on the basic idea that “it is not what you know but who you know”. Social capital refers mostly to social cohesion, which makes a community more committed to better living conditions for all. People in communities have the capacity to improve the quality of their lives with the support of all sectors, civil society, the state and the market by letting the people in communities get involved in all the stages of the programmes because they know better from living in those communities. Civil society organisations can meaningfully add value to economic and social development in any third world country through their work. The government, the market and civil society can complement each other and add value to the development of the country. This study employed a qualitative research design. It used in-depth interviews, direct observation and focus-group interviews to collect data, which was later transcribed and analysed thematically. The main focus of this study was to critically evaluate the roles and strategies of civil society organisations in the development of South African communities, using Planact as a case study. The specific objectives were to: 1) To explore the role Planact plays in development in Johannesburg; 2) To evaluate how Planact uses social capital as a strategy in promoting development if at all; 3) To explore the challenges of civil society organisations, particularly that of Planact in the development process of poor communities and 4) To make possible recommendations in the light of the roles and strategies of civil societies identified in analysing Planact ‘s strategy in development process for the poor. This study found that as a civil society organisation Planact is acting as a voice for the voiceless through its advocacy programme. It contributes to policy making, good governance and accountability. In addition, Planact promotes participation and assists in education and training. Planact uses different strategies to promote development in the community, such as mentoring, promoting integrated human settlement, using technology in networking, encouraging participation, community economic development and social organisation. Furthermore, the organisation uses forums, awareness campaigns and empowerment as strategies to promote development in the community. However, the study found that the organisation faces challenges because of limited funding. The community also encounters certain challenges as they engage with the organisation, for example, lack of accountability, unresponsiveness and inaccessibility. It was noted that civil society organisations should adopt a higher priority in development planning and practice and should allow the participation of poor people in the development process. / Development Studies / M.A. (S.S.)

Abstracts in English, Afrikaans and Southern Sotho / The purpose of this study was to develop a best practice corporate community involvement disclosures (CCID) framework for JSE-listed organisations in South Africa. An analysis of the literature underscored the need for quality CCID and revealed the paucity of research on this topic. The study adopted a mixed-methods approach employing three research stages. Firstly, an initial CCID framework was constructed on the basis of a content and document analysis of top-performing JSE-listed organisations. Secondly, 30 CCI experts refined and validated the CCID framework through semi-structured interviews. The developed CCID framework comprised 36 specific disclosure items in nine general disclosure categories. Thirdly, the CCID framework was applied to 116 corporate reports, including the integrated reports, sustainability reports and corporate webpages of 20 JSE-listed companies for the years 2015 to 2017. The findings indicated that the sample of JSE-listed organisations disclose some aspects of CCI in their corporate reports. However, there is no consistent reporting framework, and a number of CCID items were under-disclosed according to the CCI expert “best practice” to meet stakeholder expectations. In both the integrated and sustainability reports, general category 2, CCI strategy, and general category 4, CCI projects, were the best-performing categories. General category 8, Evidence of CCI, was one of the best-performing categories disclosed in the sustainability reports and on the corporate webpages. General category 5, Relevant regulatory measures, general category 6, CCI benefits/business value creation, and general category 7, Assurance of CCI reporting, contained no or limited CCID. The development of the CCID framework resonated with stakeholder theory, while the findings on the application of the CCID framework supported the theoretical perspectives of legitimacy theory. In addition to the identified legitimising drivers, the findings suggested that local tensions and expectations are impacting on CCID in South Africa. The findings of this study provide useful insights into CCID practices, guidelines and the quality of CCID. It is unique because it is the first of its kind to develop and apply a CCID framework in South Africa. The findings have a number of implications for stakeholders, corporate managers, regulators and policymakers in South Africa and internationally. / Die doel van hierdie studie was om ’n raamwerk van beste praktykte te ontwikkel vir korporatiewe gemeenskapsbetrokkenheid-openbaarmakings (KGBO) vir JSE-genoteerde organisasies in Suid-Afrika. ʼn Ontleding van die literatuur het die behoefte aan gehalte-KGBO beklemtoon en die gebrek aan navorsing oor hierdie onderwerp aan die lig gebring. Die studie het ’n gemengdemetode-benadering gevolg wat drie navorsingstadiums gebruik het. Eerstens is ʼn aanvanklike KGBO-raamwerk op die grondslag van ’n inhoud-en-dokument-ontleding van bes presterende JSE-genoteerde organisasies saamgestel. Tweedens het 30 KGB-kundiges die KGBO-raamwerk deur middel van halfgestruktureerde onderhoude verfyn en geldig verklaar. Die ontwikkelde KGBO-raamwerk het 36 spesifieke openbaarmaking-items in nege algemene openbaarmakingkategorieë bevat. Derdens is die KGBO-raamwerk toegepas op 116 korporatiewe verslae, insluitend die geïntegreerde verslae, volhoubaarheidsverslae en korporatiewe webbladsye van 20 JSE-genoteerde maatskappye vir die jare 2015 tot 2017. Die bevindings het aangetoon dat die monster van JSE-genoteerde organisasies enkele aspekte van KGBO in hul korporatiewe verslae openbaar het. Daar is egter nie ’n konsekwente verslagdoeningsraamwerk nie, en volgens die KGB-bestepraktykkundige is ’n aantal KGBO-items onderverklaar om aan belanghebbers se verwagtinge te voldoen. In sowel die geïntegreerde as volhoubaarheidsverslae was die algemene kategorie 2, KGB-strategie, en algemene kategorie 4, KGB-projekte, die bes presterende kategorieë. Algemene kategorie 8, Bewys van KGB, was een van die bes presterende kategorieë wat in die volhoubaarheidsverslae en op die korporatiewe webbladsye openbaar gemaak is. Algemene kategorie 5, Relevante regulatiewe maatreëls, algemene kategorie 6, KGB-voordele/besigheidswaarde-skepping, en algemene kategorie 7, Gerusstelling van KGB-verslagdoening, het geen of beperkte KGBO bevat. Die ontwikkeling van die KGBO-raamwerk het by die belanghebberteorie aanklank gevind, terwyl die bevindings van die toepassing van die KGBO-raamwerk die teoretiese perspektiewe van die egtheidsteorie gesteun het. Benewens die geïdentifiseerde egtheidsaandrywers het die bevindings daarop gesinspeel dat plaaslike spanning en verwagtinge ’n uitwerking op KGBO in Suid-Afrika het. Die bevindings van hierdie studie verskaf nuttige insigte in KGBO-praktyke, -riglyne en die gehalte van KGBO. Dit is uniek omdat dit die eerste keer is dat ’n KGBO-raamwerk in Suid-Afrika ontwikkel en toegepas word. Die bevindings het ’n aantal implikasies vir belanghebbendes, korporatiewe bestuurders, reguleerders en beleidmakers in Suid-Afrika en internasionaal. / Morero wa thutelo ye e be e le go tšweletša tlhako ya maitokiši a kaonekaone a dikutollo tša seabe sa dikgwebo setšhabeng (CCID) ya mekgatlo ye e lego lenaneong la JSE ka Afrika Borwa. Tshekatsheko ya dingwalo e gatelela tlhokego ya CCID ye e nago le mohola gape e utollotše nyakišišo ye e sa lekanago ka ga hlogotaba ye. Thutelo e tšere mokgwatebelelo wa mekgwa ye e tswakantšwego ka go diriša magato a mararo a dinyakišišo. Sa mathomo, tlhako ya mathomo ya CCID e hlamilwe go ya ka tshekatsheko ya diteng le tokomane tša mekgatlo ye e lego lenaneong la JSE yeo e šomago gabotse. Sa bobedi, ditsebi tša CCI tše 30 di kaonafaditše le go laetša boleng bja tlhako ya CCID ka mokgwa wa dipotšišo tšeo di sa latelego lenaneo leo le itšeng. Tlhako ya CCID ye e tšweleditšwego pele e dirilwe ke dintlha tša kutollo tše itšeng tše 36 magorong a kakaretšo a kutollo a senyane. Sa boraro, tlhako ya CCID e phethagaditšwe go dipego tša kgwebo tše 116, go akaretšwa dipego tše di kopantšwego, dipego tšeo di fago tshedimošo ka ga boemo bja tšwelelo ya kgwebo le matlakala a wepo a dikhamphani tše 20 tšeo di lego lenaneong la JSE mengwageng ya 2015 go fihla 2017 Dikhwetšo di šupile gore sampolo ya mekgatlo yeo e lego lenaneong la JSE e utollotše dintlha tše dingwe tša CCI dipegong tša tšona tša kgwebo. Le ge go le bjalo, ga go tlhako ya go bega ye e sa fetogego, gomme dintlha tše mmalwa tša CCID di utollotšwe ka mo go sa lekanago go ya ka “maitokišo a makaonekaone” a ditsebi tša CCI go kgotsofatša ditetelo tša bakgahlegi. Ka go dipego tše kopantšwego le tšeo di fago tshedimošo ka ga maemo a tšwelelo ya kgwebo, legoro la 2 la kakaretšo, le legoro la 4 la kakaretšo, diprotšeke tša CCI, di bile magoro ao a šomilego gabotse. Legoro la 8 la kakaretšo, Evidence of CCI, e bile ye nngwe ya magoro ao a šomilego gabotse ao a utollotšwego ka go dipego tšeo di fago tshedimošo ka ga boemo bja tšwelelo ya kgwebo le go matlakala a wepo a kgwebo. Legoro la 5 la kakaretšo 5, Relevant regulatory measures, legoro la 6 la kakaretšo 6, CCI benefits/business value creation, le legoro la 7 la kakaretšo, Assurance of CCI reporting, di be di se na le goba le CCID ya bogolo bjo beetšwego mellwane. Tšwetšopele ya tlhako ya CCID e kwana le mekgwaboitshwaro bolaoding bja kgwebo, mola dikhwetšo go tirišo ya tlhako ya CCID e thekga tebelelo ya ditlhalošo tša diteori tša go dira go ya ka mekgwa ya boitshwaro ya setšhabeng. Go tlaleletša go ditlhohleletši tše di šupilwego tša go amogelwa ka semolao, dikhwetšo di šišintše gore dithulano le ditetelo tša selegae di na le khuetšo go CCID ka Afrika Borwa. Dikhwetšo tša thutelo ye di fa ditshedimošo tše di ka thušago tša ditlwaetšo tša CCID, mekgwatlhahli le mohola wa CCID. Ke ya moswananoši ka gobane ke ya mathomo ya mohuta wa yona go tšweletša le go diriša tlhako ya CCID ka Afrika Borwa. Dikhwetšo di na le ditlamorago tše mmalwa go batho bao ba nago le dikgahlego, balaodi ba dikgwebo, basepetši go ya ka molao le badiramelaotshepetšo ka Afrika Borwa le kemong ya boditšhabatšhaba. / Management Accounting / D. Phil. (Accounting Sciences)