Thesis supervisor: Lee Anna Clark. Includes bibliographic references (p. 92-107).

The present study compares the performance of volunteers and nonvolunteers in a 10-hour integrated series of management simulation exercises. It was hypothesized that there would be no performance differences in these two groups. Subjects were business students. Dependent measures were global ratings of management level and potential, as well as a behavioral checklist score. The results partially support the hypothesis. Volunteers performed significantly better on the global measures but not on the behavioral checklist. Differences on global measures were attributed to demand characteristics, whereas the behavioral checklist was not susceptible to this artifact. This finding raises doubts as to the usefulness of global measures and the validity of research based on them. Studies designed to upgrade and validate the behavioral checklist are needed.

Thesis (MBA (Business Management))--University of Stellenbosch, 2000. / ENGLISH ABSTRACT: The aim of this study was to investigate the term executive (managerial) derailment. Special reference was given to various research done in the USA at the Centre for Creative Leadership (CCL). Managerial derailment was analysed and the persons most likely to derail identified. Typical indicators for derailment were investigated. The cause for derailment, with special focus on six classical flaws and their intercorrelation, were studied. Preventative measures to combat the phenomenon of derailment were investigated on both individual and organisational levels. Some preventative recommendations were suggested. The state of derailment internationally was studied to ascertain if any time movement occurred. Derailment is still present today, while some of the reasons causing derailment is fading, others increases in strength. Cultural differences between European and North American managers were studied, and no differences were found. This were compared with a survey conducted by the author on 47 modular South African MBA students to determine the state of derailment amongst the respondents. The survey respondents positively confirmed the presence of managerial derailment. Derailment results recorded amongst the pilot group were similar to that documented in literature. Further in-depth study needs to be done to validate the existence of managerial derailment amongst South African managers. / AFRIKAANSE OPSOMMING: Die deel van hierdie studie was om die term bestuursontsporing (managerial derailment) te ondersoek. Spesiale aandag is gegee aan verskeie navorsing gedoen by die Centre for Creative Leadership (CCL) in die VSA. Persone met 'n hoe ontsporingspotensiaal is geidentifiseer tydens die ontleding van die term bestuursontsporing. Tipiese aanwysings vir ontsporing is ondersoek. Ses klassieke oorsake vir ontsporing is nagevors met veral verwysing na interkorrolasies tussen hierdie oorsake. Voorkomende ontsporingsmaatreels met betrekking tot die individu en die organisasie is bestudeer. Veranderinge oor tyd in internasionale bestuursontsporingsnavorsing is ondersoek. Resultate dui, ten spyte van 'n verandering in die redes vir ontsporing, aan dat bestuursontsporing steeds plaasvind. Feitlik geen verskille wat aan kultuur toegeskryf kan word, word in die literatuur vermeld nie. In 'n meningspeiling onder 47 Suid-Afrikaanse modulere MBA studente het die outeur soortgelyke resultate verkry. Bestuursontsporing blyk teenwoordig te wees onder die studiegroep. Die oorsake vir bestuursontsporing van die respondente is bykans dieselfde as wat deur internasionale navorsing aangetoon word. Voordat die gevolgtrekking dat bestuursontsporing teenwoordig is onder Suid-Afrikaanse bestuurders gemaak kan word, word verdere in diepte studie vereis.

The South African Government launched a skills development initiative in February 2001 to be led by leaders of twenty five Sector Education Training Authorities (SETAs). This study identifies a strategy and the transformational leadership competencies to be included in the strategy to develop the SETA leaders. / Dr. A. Lategan

Ph.D. / This thesis investigates the persistence of hedge fund managers’ skills, the optimality of strategies they use to outperform consistently the market during periods of boom and/or recession, and the market risk encountered thereby. We consider a data set of monthly investment strategy indices published by Hedge Fund Research group. The data set spans from January 1995 to June 2010. We divide this sample period into four overlapping sub- sample periods that contain different economic market trends. We define a skilled manager as a manager who can outperform the market consistently during two consecutive sub-sample periods. To investigate the presence of managerial skills among hedge fund managers we first distinguish between outperformance, selectivity and market timing skills. We thereafter employ three different econometric models: frequentist, Bayesian and fuzzy regression, in order to estimate outperformance, selectivity and market timing skills using both linear and quadratic CAPM. Persistence in performance is carried out in three different fashions: contingence table, chi-square test and cross-sectional auto-regression technique. The results obtained with the first two probabilistic methods (frequentist and Bayesian) show that fund managers have skills to outperform the market during the period of positive economic growth (i.e. between sub-sample period 1 and sub-sample period 3). This market outperformance is due to both selectivity skill (during sub-sample period 2 and sub-sample period 3), and market timing skill (during sub-sample period 1 and sub- sample period 2). These results contradict the EMH and suggest that the “market is not always efficient,” it is possible to make abnormal rate of returns.However, the results obtained with the uncertainty fuzzy credibility method show that dispite the presence of few fund managers who possess selectivity skills during bull market period (sub-sample period 2 and sub-sample period 3), and market timing skills during recovery period (sub-sample period 3 and sub-sample period 4); there is no evidence of overall market outperformance during the entire sample period. Therefore the fuzzy credibility results support the appeal of the EMH according to which no economic agent can make risk-adjusted abnormal rate of return. The difference in findings obtained with the probabilistic method (frequentist and Bayesian) and uncertainty method (fuzzy credibility theory) is primarily due to the way uncertainty is modelled in the hedge fund universe in particular and in financial markets in general. Probability differs fundamentally from uncertainty: probability assumes that the total number of states of economy is known, whereas uncertainty assumes that the total number of states of economy is unknown. Furthermore, probabilistic methods rely on the assumption that asset returns are normally distributed and that transaction costs are negligible.

by Hau Kam-chor. / Bibliography: leaves 61-64 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1982

Thesis. 1979. Ph.D.--Massachusetts Institute of Technology. Dept. of Political Science. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND DEWEY. / Includes bibliographical references. / Ph.D.

Thesis (Ph. D.)--University of Oregon, 2002. / Typescript. Includes vita and abstract. Includes bibliographical references (leaves 75-77). Also available for download via the World Wide Web; free to University of Oregon users.

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