Thesis (M.B.A.)--University of Hong Kong, 1996. / Includes bibliographical references (leaf 96-97).

Thesis (M.B.A.)--University of Hong Kong, 1997. / Includes bibliographical references (leaf 68).

Thesis (MBA)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Cross-sectoral collaborations between non-profit organisations (NPOs) and the business sector are on the rise. The success of the cross-sectoral collaboration is varied and based upon the value generated for both parties. Most literature around cross-sectoral collaboration has been written with a bias towards the corporate sector, not taking into account the challenges faced by NPOs. This research project focused upon the value generated from collaborations between NPOs and individuals from the corporate sector, within the NPO landscape. The University of Stellenbosch Business School Executive Development (USB-ED) presents a course to develop the skills of senior managers in the Senior Management Development Programme (SMDP). As part of the programme, participants (from the business sector) are required to complete a business driven action learning (BDAL) assignment where they engage NPOs in order to do a strategic analysis and develop a strategic plan for them. The BDAL assignment is not only designed to provide the SMDP participants with the opportunity to apply knowledge acquired in the course, but also aims to make a social contribution. Qualitative research methods were employed to study the engagement between the NPOs and the SMDP participants, the outcomes of the BDAL assignment and the perceived value created for the NPOs and SMDP participants. The research was not an evaluation of the BDAL assignment but drew on the information generated from the BDAL assignment to understand how value was generated through the process of business and NPOs working together. Value was generated for the NPOs through the relationship with the SMDP participants and the skills the SMDP participants employed during the collaboration. It was found, however, that the outcome was mostly generated on a strategic level for the NPO. But, as a result of a lack in capacity, the NPOs were not able to maximise the value from the BDAL assignment implementing it on an operational level. Where the SMDP participants were able to close the gap between the strategic and the operational level, through skills transfer and providing practical guidelines, the value increased significantly and operation efficiency increased. The findings on how value was generated through the BDAL assignment and the literature review formed the foundations for the guidelines that are provided for cross-sectoral collaboration, within the NPO landscape. Subsequently, the aim of the study is to enrich the cross-sectoral collaborations between NPOs and business, as well as the BDAL assignment and its outcomes.

ENGLISH ABSTRACT: On 27 September 2010, the much anticipated entry of Walmart to the South African retail sector was announced. Walmart Stores Incorporated publicised that they would make a non-binding offer of R148 per share for the entire number of Massmart Holding’s outstanding shares. The offer presented a premium of 19.2 percent and valued Massmart at R31 billion rand. Walmart later altered the offer to purchase 51 percent of the outstanding shares at the same offer price which Massmart consequently accepted. This concluded the largest investment by an American company, the tenth largest corporate transaction in South Africa and the fifth largest acquisition by Walmart. From a Massmart shareholders’ perspective, was it the correct decision to accept Walmart’s offer? Academic literature suggests that most mergers and acquisitions fail to live up to their expectations and ultimately fail to create shareholder value. Some of the most common reasons listed are the failure to determine the fair market value of an acquisition and engaging in mergers and acquisitions for the wrong reasons. Another common pitfall is that valuation methods in general do not link the company’s strategy to the valuation process, to assess the potential impact of the merger or acquisition on company performance. This case study based research report analyses the Walmart-Massmart acquisition to review Walmart’s offer price. The analysis links both companies’ business model and strategy to the valuation process, to determine the outcome on shareholder value within Massmart following the acquisition.

published_or_final_version / Business Administration / Master / Master of Business Administration

As the economy shifts from a heavy emphasis on defense science and technology to a focus on the application of innovation to commercial markets, decision makers are eager to learn how to shape successful university-industry partnerships. Given that the trend is toward greater numbers of relationships, this national survey project investigated whether scientists and administrators involved in university-industry cooperation share similar perspectives. It explored the benefits, conflicts and mechanisms related to collaborative activity, and sought to determine the implications for universities, industry, and policies directed towards this collaborative activity. Sponsored in part by the National Science Foundation, this study is one of the first to solicit responses from persons not involved in university-industry collaborative activity as well as from those who are. This research successfully captured three aspects of conflicts: conflict of interest, conflict of commitment and conflict over internal equity. The study found that conflict of interest turns on potential financial gain and revenue generating activities. Conflict of commitment is viewed in terms of responsibility and loyalty to the academic or industrial sector to which the individual belongs. Conflict over internal equity centers on traditional academic duties such as teaching and interaction with students. The primary benefits society will receive as a result of collaborative activity are new knowledge and know-how of new techniques and technologies. Regarding specific mechanisms preferred by survey respondents, collaborative universities and firms will rely heavily on conflict of interest policies guide appropriate activities. These should be specific enough to counsel an individual who has come to a decision point with regard to loyalties and at the same time be general enough to treat each collaborative endeavor on its unique merits. Regardless of the type of collaborative relationship in which academics become involved, the study found that decision makers should hold firm in their promotion of teaching and equitable treatment of students. In order to be true to their academic identity, university representatives should ensure the scale is tipped in favor of teaching, or delicately balanced so that teaching activities are equal to collaborative activities.

Transaction cost economics (TCE) theorists traditionally have classified transactions between firms as governed by either market or hierarchy. By assessing characteristics of the transaction - asset specificity, uncertainty, and frequency - firms choose the governance form which minimizes transaction costs, the costs of administering the business deal. During the 1980s, however, TCE has found itself unable to explain the proliferation of strategic alliances. These hybrid relationships seek the benefits of both markets and hierarchies, including quasi-integration, the control of assets without actual ownership. Further, hybrids tend to prefer trust-based relational contracting. TCE's acknowledgment of hybrids, however, raises other questions surrounding the behavioral assumptions which supposedly influence the transaction characteristic governance linkage. Various dissenting researchers have theorized that (1) trust is more dominant in business than opportunism (2) the behavioral assumptions actually function as variables in different contexts, and (3) trust offers an integration mechanism for behavioral variables.

This essay focuses on firms that have publicly issued announcements that they were seeking a buyer. Managers of the firms in this unique sample display an idiosyncratic behavior by expressing a willingness to relinquish private benefits of control. The essay investigates the possible factors that may lead managers of these firms to issue such announcements, the effects of issuing "seeking buyer" announcements on shareholders' wealth, and the probability that such firms are later acquired. Results indicate that firms in poor financial condition, as well as larger and more homogeneous firms are more likely to issue a "seeking buyer" announcement. The interpretation of such results is that firms resort to issuing the announcement when a sale seems to be the means for survival, and when the sale is less likely without such an aggressive sale strategy. The announcements have a positive impact on shareholders' wealth, though they do not increase the probability of an acquisition. Essay 2: Shifts in risk as the result of corporate divestitures. The second essay investigates the effect of corporate divestitures on risk, while previous research focused exclusively on changes in shareholders' wealth. Specifically, this study explores changes in systematic, total and idiosyncratic risk as the result of spin-offs, carve-outs and asset sales. Additionally, I study factors that may explain the variation in risk changes as the result of the three types of divestitures. I document an increase in total and idiosyncratic risk for all types of divestitures, an increase in one of the measures of systematic risk for spin-offs and carve-outs and a reduction in systematic risk for asset sales. Change in risk is negatively correlated with the degree of focusing as the result of divestitures, and positively correlated with change in financial leverage. / by Marya Murdock. / Thesis (Ph.D.)--Florida Atlantic University, 2010. / Includes bibliography. / Electronic reproduction. Boca Raton, Fla., 2010. Mode of access: World Wide Web.

by Ng Ka-Hing. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 37-40). / ABSTRACT --- p.iii / TABLE OF CONTENTS --- p.iv / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- REVIEW OF LITERATURE --- p.3 / Chapter III. --- METHODOLOGY - THE PARTNER SELECTION MODEL & CRITERIA --- p.9 / Chapter IV. --- THE HONG KONG ELECTRIC UTILITY -THE CASE STUDY --- p.13 / Chapter V. --- THE EMPIRICAL EVIDENCE SHOWN BY THE CASE STUDY… --- p.19 / Chapter VI. --- DISCUSSIONS & CONCLUSIONS --- p.34 / BIBLIOGRAPHY --- p.37

An interaction dynamics perspective conceives the cooperation process as an action chain consisting of the actions and reactions between cooperating partners when they respond to disruptive events. The action chain is characterized by three constructs: action acquiescence, action simplicity, and action reciprocity. I further develop an action pattern model that clarifies the relationships among partner relation, governance structure, action pattern, and cooperation performance in a partnership. / Extant literature in strategic alliance has inconsistent conclusions on why some cases of cooperation succeed but some fail. I argue that the interaction process in cooperation may be the missing piece in the puzzle. Drawing on an interaction dynamics perspective, this dissertation examines what factors affect the interaction process and how variations of the interaction process affect cooperation performance. / In the second study, a questionnaire survey was conducted and a sample of 263 construction projects was obtained. The regression analysis indicated that partner relation affected action pattern, and this effect was moderated by governance structure. Contrary to conventional belief that action pattern mediates the effect of partner relation on cooperation performance, I found that action pattern and partner relation affected cooperation performance independently. / The action pattern model was empirically tested in the dyadic partnership between architects and contractors in two related studies. In the first study, qualitative data from 12 construction partnerships were collected through semi-structured interviews, questionnaires, and documents between architects and contractors. Overall, the case studies provided some "thick descriptions" of the action repertoire in cooperation. Results showed that cooperating partners adopted particular actions as deliberate strategic signaling to each other and as a means of reward/punishment. Moreover, actions tended to stabilize after repeated interaction cycles as cooperating partners categorized each other into specific portraits. / The interaction dynamics approach provides a new and promising perspective to study inter-firm cooperation. This dissertation suggests that how process unfolds in cooperation is crucial for cooperation success and carefully "matched" alliance may fail without appropriate management of the interaction process. / Lui Siu-yun Steven. / "August 2000." / Adviser: Ngo Hang-Yue. / Source: Dissertation Abstracts International, Volume: 61-08, Section: A, page: 3253. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (p. 141-156). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts in English and Chinese. / School code: 1307.