Sustainability reporting by companies can serve as a communication tool with potential to build trust, influence the attitudes and perceptions of stakeholders. However, reporting without adding value and meeting the needs of the targeted stakeholders has been labelled a fad or meaningless by some scholars. The objective of this research was therefore to understand from a stakeholder‟s perspective; if indeed sustainability reporting is meeting their needs and creating value for them. A qualitative approach was used to illicit perspectives of multiple stakeholder groups on the value of sustainability reporting by two companies belonging to the mining sector. A total of sixteen different stakeholders belonging to different stakeholder groups and two sustainability experts from the two companies were interviewed to compare the company perspectives on value created with that of other stakeholders. The results highlighted that the relationship between the company and a stakeholder group, influences how that particular stakeholder group is prioritised and engaged. Stakeholder groups that are economically powerful, have higher saliency and those with potential to influence the business were prioritised and effectively engaged compared to those with low economic power and low legitimate claim over the company. The perceived benefit of sustainability reporting varied per stakeholder group and the company perspective of value differed from stakeholder perspective for some stakeholder groups. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

L'actionnariat salarié (AS) constitue un levier important pour développer le sentiment d'appartenance des salariés à leur entreprise et les fédérer autour des objectifs stratégiques. Cette forme de participation traduit la cohésion interne et la fierté qui unissent les salariés à leur entreprise. En détenant des parts de propriété, les salariés actionnaires témoignent de leur confiance à l’égard de l’avenir de leur entreprise. Constatant le développement de l'actionnariat salarié et anticipant les implications profondes de cette pratique, le sujet de ma thèse propose d'étudier la particularité de ce double statut d'actionnaire-salarié et d'analyser les conséquences de la pratique de l'actionnariat salarié sur la création de la valeur partenariale. En s’appuyant sur les développements récents que nous suggère la littérature académique, la première partie de cette recherche se propose d’examiner, dans un premier temps, les effets induits par la pratique de l’actionnariat salarié sur les performances individuelle et organisationnelle, puis, dans un second temps la place privilégiée qu’occupe l’AS, en tant que levier de création de valeur partenariale. La seconde partie de cette recherche analyse de manière empirique la contribution de l’AS à la création de valeur partenariale, et plus précisément, mesure les effets attitudinaux et comportementaux de l’AS sur les différentes dimensions de ce construit dans le contexte des entreprises du SBF 250. Mots clés : actionnariat salarié, création de la valeur, valeur partenariale. / Employee share ownership (ESOP) is an important lever to expand the membership of employees in their company and unite them around the strategic objectives. The aim of employee ownership is to associate staff not only to the company's results or determining working conditions, but also giving him the opportunity to influence the destiny of the company. Noting the development of employee stock ownership and anticipating the profound implications of this practice, the subject of my thesis proposes to study the specificity of this dual status as a shareholder-employee and analyses the consequences of this practice on creating stakeholder value. The first part of this research seeks to examine at first the effects induced by the practice of employee share ownership on individual and organizational performance, then secondly the privileged place of ESOP as a lever to create stakeholder value. The second part of this research examines empirically the contribution of ESOP to create stakeholder value, and more precisely measure attitudinal and behavioural effects of ESOP on the different dimensions of this construct in the context of SBF 250 companies.

La multiplication des scandales financiers depuis l'an 2000 suscite des débats et des controverses sur la gouvernance des entreprises cotées en bourse. Dans le paradigme contractuel, les débats sur la gouvernance ont largement consacré la valeur actionnariale comme modèle dominant, et dans lequel les actionnaires sont les seuls créanciers résiduels. Toutefois, la théorie des parties prenantes part du principe que la relation d'agence actionnaire-dirigeant doit s'élargir aux autres partenaires intervenant dans la chaîne de valeur, et qu'il faut abandonner l'hypothèse du statut de créancier résiduel exclusif des actionnaires. Cet abandon conduit à s'interroger sur le partage de la rente organisationnelle, ou valeur partenariale créée par la firme. Plus précisément, le concept de valeur partenariale soulève les questions de sa mesure, de son appropriation par les différents partenaires, et du rôle des mécanismes de gouvernance à ce niveau. L'objectif de cette recherche est, dans un premier temps, d'examiner le rôle joué par les mécanismes de gouvernance propres à la firme (caractéristiques du conseil, structure de propriété) sur la valeur partenariale créée, puis, dans un deuxième temps, sur l'appropriation de cette valeur partenariale par la firme et par ses parties prenantes explicites. Les tests empiriques portent sur un panel de 103 sociétés françaises cotées observées sur trois années (2006, 2008 et 2010). Les résultats suggèrent que quatre mécanismes ressortent globalement positivement associés à la valeur partenariale créée : la taille et l'indépendance du conseil, le pouvoir actionnarial des salariés, et la présence d'un comité d'éthique et/ou de gouvernance (CEG). En matière d'appropriation, deux mécanismes de gouvernance semblent jouer un rôle. Premièrement, la taille du conseil permettrait aux actionnaires et aux fournisseurs de capter davantage de rente organisationnelle, au détriment des clients et de la firme elle-même. Deuxièmement, la présence d'un CEG incite à une meilleure prise en compte des intérêts de certaines parties prenantes non-financières dans le partage de la rente (clients, salariés), alors que la part de rente que s'approprient les apporteurs de capitaux financiers (actionnaires et créanciers) diminue. Dans l'ensemble, nos résultats concernant la mise en place d'un CEG s'avèrent encourageant quant à la capacité de ce mécanisme à promouvoir une véritable gouvernance partenariale au sein des firmes cotées. / The multiplication of financial scandals since year 2000 induced debates and controversies about the governance of public companies. In the contracting paradigm, the debates on corporate governance have largely relied on shareholder value as a dominant model, in which shareholders are the only residual claimants. However, the stakeholder theory builds on the principle that the shareholder-manager agency relationship has to widen to the others stakeholders who intervene in the value creation chain, and that it is necessary to get rid of the hypothesis that shareholders are exclusive residual claimants. This move brings questions about the sharing of the organizational rent, or stakeholder value created by the firm. More specifically, the concept of stakeholder value raises questions about its measurement, its appropriation by the various stakeholders, and about the role of corporate governance mechanisms on that ground. The objective of this research is to investigate the role of firm-specific governance mechanisms (board characteristics, ownership structure) on the creation of stakeholder value on the one hand, and on the distribution of that stakeholder value to the firm and to its explicit stakeholders, on the other hand. Empirical tests are based on a panel of 103 French listed companies observed over three years (2006, 2008, and 2010). The main findings suggest that four mechanisms stand out globally positively associated to the stakeholder value created: board size and board independence, employees' voting rights (shareholder power), and the presence of an Ethics and/or Governance Committee (EGC). In terms of appropriation, two governance mechanisms seem to play a role. Firstly, board size would result in a larger part of the organizational rent captured by shareholders and suppliers, at the expense of customers and the firm itself. Secondly, the presence of an EGC results in a better consideration of the interests of some non-financial stakeholders (customers and employees), whereas the share of rent that is appropriated by financial capital providers (shareholders and debt-holders) decreases. Overall, our results concerning the implementation of an EGC turn out encouraging regarding the capacity of such mechanism to promote effective stakeholder governance within listed companies.

The study aims to evaluate the understanding of value – based management (VBM) as a decision making tool, how it is embraced in all management levels and its impact on the performance of a petrochemical company. The application of VBM links business strategy, finance, performance management and management processes all together to create value. VBM is a powerful management framework with the aim to focus all managerial processes on shareholder value creation. It encourages employees at all levels within an organisation to focus on value creation. This study investigated VBM by means of literature study to formulate an understanding of how it can be used as a decision making tool in a petrochemical company. The VBM metrics were presented and some successes and failures of such metrics were considered to provide a better understanding of VBM implementation. A quantitative study was conducted through the use of a standardised questionnaire to collect primary data. The questionnaire was distributed to managers (from junior managers to senior managers) at Sasol. The completed questionnaire was tested for reliability and validity before it was analysed and specific constructs were developed from the literature review together with the respondents’ demographic profile. Even though most respondents indicated that they have not received adequate training and education on VBM, the results of the study indicate that there is a general knowledge and understanding of VBM and its principles in Sasol. After analysis the study provided practical recommendations to ensure that VBM is sustainably used as a decision making tool in a petrochemical company. / MBA, North-West University, Potchefstroom Campus, 2014

The study aims to evaluate the understanding of value – based management (VBM) as a decision making tool, how it is embraced in all management levels and its impact on the performance of a petrochemical company. The application of VBM links business strategy, finance, performance management and management processes all together to create value. VBM is a powerful management framework with the aim to focus all managerial processes on shareholder value creation. It encourages employees at all levels within an organisation to focus on value creation. This study investigated VBM by means of literature study to formulate an understanding of how it can be used as a decision making tool in a petrochemical company. The VBM metrics were presented and some successes and failures of such metrics were considered to provide a better understanding of VBM implementation. A quantitative study was conducted through the use of a standardised questionnaire to collect primary data. The questionnaire was distributed to managers (from junior managers to senior managers) at Sasol. The completed questionnaire was tested for reliability and validity before it was analysed and specific constructs were developed from the literature review together with the respondents’ demographic profile. Even though most respondents indicated that they have not received adequate training and education on VBM, the results of the study indicate that there is a general knowledge and understanding of VBM and its principles in Sasol. After analysis the study provided practical recommendations to ensure that VBM is sustainably used as a decision making tool in a petrochemical company. / MBA, North-West University, Potchefstroom Campus, 2014

No description available.

Stakeholder theory has transcended academia and is infiltrating boardrooms all over the world. However, the literature is divided and lacks a coherent narrative of stakeholder value creation. The purpose of this exploratory study is to investigate the merits of stakeholder management by examining the arguments used by stakeholder researchers. Using argument analysis an overview of the field is created which describes the preconditions, mechanisms and moderators of value creation facilitated by stakeholder management.

Thesis (M.Com. (Accounting)) -- University of Limpopo, 2022 / For organisations to be successful, they need key stakeholders like shareholders, customers, employees, banks and the community. These stakeholders are essential in any profit-based organisation. All stakeholders have needs, which have to be balanced. However, it is difficult to balance the needs of different stakeholders as they have different preferences. This study seeks to determine how different needs of stakeholders can be balanced and which of these stakeholders an organisation can prioritise to create value in the organisation. The study used a quantitative method to extract secondary data from the Johannesburg Stock Exchange. The judgemental sampling method was utilised to selected 68 organisations from the JSE, which were utilised to determine which stakeholder has an impact on the value of an organisation. The study did not choose any industry but generalised. The results of the study indicate that shareholders, customers and banks (debtholders) have no effect on the financial performance of the organisation. This means that stakeholders do improve value in an organisation. However, the results further revealed that the community and employees have a positive influence on financial performance. Future researchers can choose one industry to determine how these particular stakeholders influence the financial performance of organisations in a particular industry. In addition, more stakeholders can be identified that are key to organisations. / National Research Fund through Risk and Vulnerability Science Centre

Thesis (M. Com. (Accounting)) -- University of Limpopo, 2019 / Sustainability reporting (SR) in South Africa is on a ‘report and explain’ basis because the King IV Code has not made it mandatory for all companies operating but only for those companies listed on the Johannesburg Stock Exchange. It has become difficult to align SR with stakeholder value creation. This study examines the relationship between SR and stakeholder value creation represented by employees’ health and occupational safety, return on assets, community projects and green investments. The study used a quantitative method that utilises the multiple regressions method to analyse data from selected manufacturing companies for 11 years (2007-2017) listed at South African Johannesburg Stock Exchange’s (JSE). The study measures the relationship between employees’ health and occupational safety, investment in community projects, green investments and ROA. Results show insignificant relationships between employees’ health and occupational safety and ROA, investment in community projects and ROA and green investments and ROA. The study recommends future research on all sectors or inter-country research on sustainability reporting and stakeholder value creation. Keywords: sustainability, sustainability reporting, stakeholder value creation, employees’ health, occupational safety, community projects, green investments, return on assets.

Yes / Corporations in the 21st play a decisive role in the future of society. Their power and influence in world affairs often seems devoid of ethics and seems to exceed the reach and the means of many nations. As a result, the strategic positions they take towards value creation and ethics affects every individual on the planet. This paper explores strategic routes that organisations could apply to facilitate economic growth while ensuring their ecological integrity and ensuring social enhancement generating benefits to a wider scope of organisational stakeholders. By conducting a critical analysis and clarifying common misconceptions between Corporate Social Responsibility (CSR), Creating Shared Value (CSV) and Sustainability, it is possible to determine how these interrelated strategic approaches have evolved. This article argues the importance of transforming the purpose of organisations to encapsulate stakeholder value creation as the main reason for their existence.