Thesis (MBA)--Stellenbosch University, 1993. / ENGLISH ABSTRACT: The success rate of an undertaking is normally measured against the industrial average of
the specific undertaking. In theory it is very easy, but in practice many problems arise
which must be overcome before any ratio analysis becomes meaningful.
All companies listed on the Johannesburg Stock Exchange were measured against the
definition of a conglomerate. After the selection there were efforts to divide all the South ·
African conglomerates into homogeneous groups according to an article by Amit & Livnat
(1990: 65-100) of the United States of America "Grouping of Conglomerates by their
segments' economic attributes: Towards a meaningful ratio analysis." Thereby a more
meaningful ratio analysis can be devised.
A method of selection was devised to select the conglomerates from the universe which
consisted of all listed companies on the Johannesburg Stock Exchange on 1 February
1993. Out of 685 companies 44 were selected as conglomerates.
When the USA article was applied to South Africa it appeared that, due tot various problems, it was impossible to apply the USA article directly to the South African situation.
Therefore the South African situation was approached differently.
Due to the fact that guidelines only existed according to which conglomerates report their
financial information segmentally, there were efforts to determine which methods were
applied by the 44 conglomerates and whether any uniform measures existed in the
segmental reporting.
After the analysis of the separate companies it was found that 19 of the 44 companies
which were selected as conglomerates report financial figures for their operational
segments; 16 companies disclose no segmental reporting; 17 companies only mentioned
certain segmental information in the directors' reports and 2 companies reported financial
information for their subsidiaries instead of operational segments.
From the research it becomes clear that segmental reporting was practiced in less than
50% of South African conglomerates. It appears that company management avoid
segmental reporting to ensure that opposition companies cannot benefit from it. / AFRIKAANSE OPSOMMING: Die mate van sukses van 'n onderneming word normaalweg aan die gemiddelde van die
industrie waarin die onderneming homself bevind, gemeet. Teoreties is dit baie maklik, maar in die praktyk ontstaan daar vele probleme wat oorkom moet word voordat enige
verhoudingsanalise enigsins betekenisvol kan wees.
Alle maatskappye wat op die Johannesburgse Effektebeurs genoteer is, is aan die definisie
van 'n konglomeraat gameet. Na die seleksie is daar aan die hand van 'n aftikel deur Amit & Livnat (1990: 65·'00) van die Verenigde State van Amerika "Grouping of Conglomerates
by their segments' economic attributes: Towards a more meaningful ratio analysis" .
gepoog om die Suid·Afrikaanse konglomerate in homogene groepe te deel. Sodoende word
'n meer sinvolle verhoudingsanalise daargestel.
'n Seleksiemetode is gevind om die konglomerate uit die universum, wat bestaan uit alle
maatskappye wat op 1 Februarie 1993 op die Johannesburgse Effektebeurs genoteer was,
te selekteer.
Met die toe passing van die VSA-artikel op Suid-Afrika het dit egter geblyk dat dit weens
verskeie probleme onmoontlik sou wees om die VSA-artikel direk op die Suid-Afrikaanse
situasie toe te pas. Daar is toe van die VSA-artikel afgewyk en die Suid-Afrikaanse situasie
is op 'n ander manier benader.
Aangesien daar slegs riglyne bestaan waarvolgens konglomerate segmentele rapportering
in hul finansiële state doen, is daar toe gepoog om te bepaal watter metodes die 44
konglomeraatmaatskappye volg en of daar enigsins 'n mate van eenvormigheid in hul
segmentele rapportering bestaan.
Nadat die verskillende bedryfsegmente van elk van die 44 maatskappye geïdentifiseer is,
is elkeen se finansiêle state sorgvuldig ontleed sodat daar vasgestel kon word of daar
enigsins finansiële rapportering in die verskillende bedryfsegmente plaasvind.
Uit die ontleding van die onderskeie maatskappye is daar gevind dat 10 van die 44
maatskappye wat as konglomerate geselekteer is, wel finansiële syfers in segmentele
verband rapporteer; 16 maatskappye doen geen segmentele rapportering nie; 7 maatskappye maak slegs in hul direkteursverslag melding van sekere segmentele inligting en 2
maatskappye rapporteer finansiële inligting in filiaalverband in plaas van bedryfsegmente.
Uit die ondersoek blyk dit dat segmentele rapportering in minder as 50% van SuidAfrikaanse
konglomeraatmaatskappye voorkom . Dit wil egter voorkom of maatskappybestuur
hul van segmentele finansiële rapportering in hul jaarverslae weerhou uit vrees dat
hul opposisiemaatskappye bevoordeel mag word .
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/58126 |
| Date | 12 1900 |
| Creators | Vermeulen, Roelof Andries |
| Contributors | Hamman, W. D., Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | af_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 92 p. |
| Rights | Stellenbosch University |
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