Faculty Publications

​​​​​​​​​​​​​​​​​​​​Academic and peer reviewed articles​​​

A​

Van Wyk, R., & Adonisi, M. (2013). The prediction of flexibility and its relationship with work variables. Journal of Applied Business Research, 26(6), 1631-1640.

Adonisi, Mandla & Van Wyk, R. (2012). The influence of market orientation, flexibility and job satisfaction on corporate entrepreneurship. International Business & Economics Research Journal, (11)5, 477-486.

Adonisi, M. & Van Wyk, R. (2011). An eight-factor solution for the corp​orate entrepreneurship assessment instrument. African Journal of Business Management, 5(8), 3047-3055. ​​​​

​​​​The USA developed Corporate Entrepreneurship Assessment Instrument (CEAI) (Hornsby, Kuratko and Zahra, 2002) is used to assess and implement a corporate entrepreneurial strategy. As psychometric instruments cannot necessarily be transferred between different cultures, the main objective of this study is to investigate the construct validity of CEAI, for a South African sample. An exploratory principal factor analysis with oblique rotation investigated the five-factor 48-item CEAI using a South African sample of 333 managers. Confirmatory factor analysis indicated an eight-factor 34-item solution (alphas in brackets): Work discretion (0.84), Management support and risk-taking (0.82), Rewards/ reinforcement (0.75), Innovative initiatives (0.84), Financial support (0.73), Sufficient time (0.76), Organizational boundaries (0.81) and Inadequate time (0.67). The application of this eight-factor scale is a powerful tool that allows management to investigate and communicate entrepreneurial expectations and facilitate entrepreneurial actions effectively.

​​​​Adonisi, M. & Van Wyk, R. (2010). Vukani-Ubuntu: A social entrepreneurial answer to social development issues in South Africa. Social Development Issues, 33(2), 67-83.

​​​​This article investigates a South African–based social entrepreneurial enterprise with a single interview. Indications are that the Vukani- Ubuntu project can serve as an example to address social development issues. Duplication of the enterprise may create hope for many underprivileged individuals who have potential and long for an opportunity but do not possess the resources to help themselves.

​​​​Adonisi, M. & Van Wyk, R. (2008). The role that entrepreneurial characteristics play in predicting job satisfaction. South African Journal of Economic and Management Sciences, 11(4), 391-407.

​​​​This study investigates the prediction of job satisfaction using the important entrepreneurial characteristics of corporate entrepreneurship (CE), market orientation (MO) and organisational flexibility (F). In this study, Structural Equation Modelling (SEM) was used to predict the causal relationship between these entrepreneurial characteristics and job satisfaction (JS) as the outcome variable. It was found that the corporate entrepreneurship factors of work discretion, work improvement and rewards / reinforcement displayed a statistically significant common variance of ≥ 25.000 with extrinsic job satisfaction. The four Structural Equation Models built in this study indicated a reasonable to good fit with the data. Since all the entrepreneurial variables investigated can be controlled by management, it follows that the application of the research findings of this study can go a long way toward improving job satisfaction and possibly organisational performance through innovative entrepreneurial activities.

​​​​Antonites, A. (2010). SMME procurement issues in Local Government: A Gauteng metropolitan study. Journal of Public Administration, 45(3), 447 -467.

B

Kowlaser, K. & Barnard, H. (2016). Tie breath, tie strength and the location of ties: The value of ties inside an emerging MNC to team innovation. International Journal of Innovation Management, 20(1), 1-31. doi: 10.1142/S1363919616500067 

Ansell, G. & Barnard, H. (2013).  Working small, acting big: Sources of, and strategies for, business innovation among South African jazz musicians. SAMUS, 33, 11-29.

Levin D. Z., & Barnard, H. (2013). Connections to distant knowledge: interpersonal ties between more and less  developed countries. Journal of International Business Studies, 44(7).​​​​

Barnard, H., & Pendock, C. (2013). To share or not to share: The role of affect in knowledge sharing by individuals in a diaspora. Journal of International Management, 19(1), 47-65.

Barnard, H, Cowan, R & Mueller, M. (2012). Global excellence at the expense of local diffusion, or a bridge between two worlds? Research in science and technology in the developing world. Research Policy, 41(4), 756-769.

Barnard, Helena. (2011). Emerging Centres of Excellence: Emerging centres of excellence: Knowledge-sharing between developing country firms and their subsidiaries in the developed world. Innovation and Development, 1(2), 235-251.

Barnard, H. (2010). Overcoming the liability of foreignness without strong firm capabilities: the value of market-based resources. ​Journal of International Management, 16(2), 165-176.​​​​

​​​​​The concept of “liability of foreignness” — the costs of doing business abroad — has been known and discussed since the mid-1970s. At the core of these discussions is the role that firm capabilities play in overcoming or limiting these costs. This raises the question of how firms with inappropriate, limited or constrained capabilities relative to their host environment overcome the liability of foreignness. This paper focuses on the subsidiaries of “emerging multinationals” and how they manage the demands of a technologically and economically highly developed host country. A host location with sophisticated markets and well-developed institutional infrastructure may be a highly challenging environment for firms that have grown their organizational capabilities in less developed contexts. This paper explores that situation and considers how resources available on the market — for example through supplier inputs—assist subsidiaries to benefit from their presence in a munificent location. Despite the acknowledged limitations of a transaction-based approach, this paper presents evidence that purchasing knowledge provides an accessible strategy for overcoming some liabilities of foreignness.

​​​​Barnard, H. (2010). Emerging multinationals, emerging theory: macro- and micro-level perspectives. Journal of International Management, 16(2), 95-101.

​​​​Recent years have witnessed an unprecedented rise in FDI from emerging economies. From a relatively minuscule amount in 1990, outward FDI flows from emerging economies reached more than $350 billion in 2008 (UNCTAD, 2009). Though multinational corporations (MNCs) from the largest or most affluent emerging economies have led the pack (e.g. China, Russia, Brazil and India), the phenomenon is fairly widespread, with firms from countries such as Mexico, Chile, Malaysia, Indonesia, Egypt, Turkey and many others also being ever more active overseas. Generally speaking, it is increasingly recognized, both by practitioners ([Sirkin et al., 2008a], [Sirkin et al., 2008b] and [Van Agtmael, 2007]) as well as academics (Ramamurti and Singh, 2008 In: Ravi Ramamurti and Jitendra V. Singh, Editors, Emerging Multinationals from Emerging Markets, Cambridge University Press, Cambridge (2008).[Ramamurti and Singh, 2008], [Gammeltoft, 2008] and [Luo and Tung, 2007]) that a surge of MNC activity from what is traditionally considered the periphery of global commerce is reshaping the structure of international business. Indeed, the positive connotations of the term ‘emerging multinational’ mirror the increasingly positive assessment of their contribution to the global economy.

​​​​Barnard, H. & Bromfield, T. (2009). Local effort and global connections: the role of international linkages in the evolution of technological capabilities at Sasol. South African Journal of Economic History, 24(1), 1-39.

To what extent are international business connections useful to facilitate technological upgrading, and to what extent are they essential? And what types of international business connections are most appropriate in supporting firms' capacity development? The most successful examples of upgrading in the recent era, the Asian Tigers, were all outward-looking in their orientation, although the specific development strategies of the economic regions differed. Although some type of international business connection was important for all of them, they all invested in local capacity building. This article investigates the co-evolution of firm capacity and international linkages by looking at the South African chemicals firm Sasol​​​​

​​​​Barnard, H. & Levin, D. (2008). Technology management routines that matter to technology managers. International Journal of Technology Management, 41(1/2), 22–37.

This study addresses the fragmentation in the technology management field by identifying and organising the routines used by managers of technology. In a multi-method, iterative qualitative study done jointly between academics and technology managers from a number of large industrial firms, 27 technology management routines were identified. These 27 routines were organised into a framework consisting of four categories: producing scientific and technological knowledge, transforming knowledge into working artefacts, linking artefacts with user requirements, and providing organisational support. This framework provides an organising scheme to make sense of technology management routines. In addition, because managers of technology actively participated in developing the routines, the study contributes by identifying routines practitioners regard as particularly important. Both research and practical implications are derived from the framework.​​​​

​​​​Barnard, H. (2008). Capability development and the geographic destination of outbound fdi by developing country firms. international journal of technology and globalization, 4(1), 39-55.

This paper uses UNCTAD data to relate the destination of FDI from developing countries to their capability development. It expands the Investment Development Path (IDP) and the flying geese model to include the destination of outward FDI. Investments from developing into developed countries are predominantly in low and medium research-intensive (often considered ‘sunset’) industries where investors have established strengths in their home base. Developing countries play an active role in knowledge-intensive services in especially the developing world. Even though the developing-country knowledge-intensive firms are not global leaders, their intra-regional FDI enables capability development in emerging industries.​​​​

Barnard, H. (2008). Uneven domestic knowledge bases and the success of foreign firms in an advanced host economy. Research Policy, 37(10), 1674-1683.​​​​

This paper investigates the effect of within-country and across-country inequalities on firms’ FDI performance, and finds drivers of success in an advanced host economy (the USA) differ for firms from developed compared to developing countries. Returns to FDI for firms from developed countries are significantly correlated with home countries’ level of economic development. In contrast, successful developing-country firms are from countries with lower within-country inequality, and reflect the industrial structure associated with developing countries: They are concentrated in scale-intensive industries and benefit especially from capital investment. The findings suggest that FDI reflects rather than disrupts unevenness in knowledge bases globally.​​​​

​​​​Barnard, H., Cantwell, J., & Kumar, N. (2007). FDI and the internationalization of R&D: Contrasting perspectives on the United Nations conference on Trade and Development 2005. Research Policy, 36(8),1288-1294.

​​​​Bonakele, Rasool, Beaty, D., & Kriek. (2014). Examining the entry of Walmart into South Africa: A stakeholder management perspective. South African Journal of Labour Relations, 38(2).

Beaty, Dave, Kriek, H.S., & Nkomo, S.M. (2009). Theory building trends in international management research: an archival review of preferred methods. South African Journal of Economic and Management Sciences, 12(1), 126-135.

​​​​A number of distinguished scholars believe that for theory development to occur within a field, qualitative research must precede quantitative research in order for the field to progress toward maturity. The purpose of this study was to investigate the international management literature from 1991–2007 to ascertain current levels of use of qualitative, quantitative, conceptual and joint (quantitative and qualitative) research methods in the field. Results indicate that scholars employ quantitative methods more than qualitative methods. The implications of these findings for future theory development and the generation of context relevant international management knowledge are discussed.

​​​​Beaty, D., Adonisi, M., & Taylor, T. (2007) Gender diversity in the perception of organisational politics in South Africa. South African Journal of Labour Relations, 31(2), pp.68-84.

​​​​This research examined men and women managers' perceptions of organisational politics (OP) in South Africa. The research replicated the methodology of an earlier American study and found that while gender differences in perceptions of OP exist in the United States, similar differences were not observed in South Africa. The research points to two findings relevant to the study of OP and gender diversity research in South Africa. First, it highlights the relatively low importance of gender as a mediating factor in the way OP is judged by men and women managers in South Africa. Secondly, the study supports the notion that men and women relate to power and politics similarly instead of affiliating with their gender group when judging political behaviour. Both findings hold promise for promoting future positive inter-group gender relations in the workplace as women increasingly advance into senior management positions and work more closely with men in similar positions and as equal colleagues.

Beaty, D., Nkomo, S., & Kriek, D. (2006). Management theory building in South Africa: an archival analysis. Management Dynamics, 15(2), 2-9.​​​​

​​​​A number of distinguished scholars believe that for theory development to occur within a field, qualitative research must precede empirical / quantitative research in order for the field to progress toward maturity. This study investigated the management literature published in South African journals from 1994-2004 to ascertain levels of use of qualitative, quantitative, conceptual and joint (quantitative and qualitative) research approaches in the field in South Africa. Conclusions on the trends of theory building in South Africa based on the research methodologies utilised in the extant literature are provided.

C​

Morokane, P., Chiba, M., & Kleyn, N. (2016). Drivers of employee propensity to endorse their corporate brand. Journal of Brand Management, 23(1), 55-66.

​​​​Chipp, K., Corder, C., & Kapelianis, D. (2013). The role of collectivism in defining the South African bottom of the pyramid. Management Dynamics, 22(1), 2-13.

Chipp, Kerry & Corder, C. (2012). Where practice meets theory: Defining and reviewing the bottom of the pyramid for South African marketers. Management Dynamics, 21(1), 18-29.

​​​​The concept 'bottom of the pyramid' refers to the world's largest but poorest socio-economic group. Despite their poverty, consumers in this segment are an increasingly attractive target market. However, the extant literature has tended to view these consumers as individuals acting in a social vacuum. By contrast, drawing upon the cultural dimensions literature, this study departs from an atomised view of consumers and adopts a collectivist perspective to describe the South African bottom of the pyramid. This study uses household data from the All Media and Product Survey and Ward's method of cluster analysis to segment the South African market. The empirical results suggest a four-cluster solution with the largest segment (35.8%) representing the bottom of the pyramid. The segment is described, and compared to wealthier segments, in terms of market size, spending power, durable goods ownership, and brand preferences across several product categories.

​​​​Chipp, K., Kleyn, N., & Manzi, T. (2011). Catch up and keep up: Relative deprivation and conspicuous consumption in an emerging market. Journal of International Consumer Marketing, 23(2), 117-134.

​​​​Exploratory research investigated whether the conspicuous consumption of affluent black South Africans is associated with prior experiences of relative deprivation. In-depth face-to-face interviews revealed that egoistic relative deprivation played a role initially in “catch up” consumption to the more privileged (white) consumers to whom black South Africans had been exposed during childhood to early adulthood. This resulted in a spike of conspicuous consumption that normalized somewhat as they continued to “keep up” with their (black) peers. The study extends our understanding of the impact of relative deprivation on conspicuous consumption and identifying the “catch up” and “keep up” consumption patterns that may follow experiences of relative deprivation.

​​​​Chipp, K., Kleyn, N., & Goldman, M. (2007). What they really think: resolving methodological issues in supply chain ethics research. Acta Commercii, 7, 112-122.

​​​​The aim of this paper is to further the theory and strengthen methodological approaches to the role of ethics in buyer-seller relationships. The paper explores opportunities to enhance response rates, validity and eliability in the research context of organisations seeking to understand the ethical beliefs their suppliers hold of their buying organisations.

Chipp, K. & Hermida, M. C. (2005). The flow and construct of Self-Service Technologies: an exploratory study. Management Dynamics 14(1), 14-28.​​​​

Self-Service Technologies (SSTs) are rapidly changing the traditional service encounter by changing the way services arc delivered. Marketers need to recognise that this change requires that traditional marketing views be revamped in order to function effectively and create value in this context. Csikszentmihalyi's (1977) flow construct was adapted to incorporate the robust Technology Readiness Index (TRI) developed by Parasuraman (2000), in order to provide a new approach to understanding SST interactions. Results demonstrated support for the applicability of the flow construct and its proposed relationships with TRI. Furthermore, the flow state was found to obtain highly desirable consequences, including satisfaction with the interaction and return intentions.​​​​

​​​​Cook, Jonathan, Muller, M., & Cutler, I (2005). The learning assessment centre and organizational transformation. South African Journal of Psychology, 35(4), 810-830.

​​​​The Learning Assessment Centre (LAC) helps managers define learning objectives based on feedback in a group of peers. This study tested the hypothesis that the LAC empowers managers to cope with change. Statistical methodology for a pretest, posttest design using ordinal (Likert) data is also reviewed. Middle managers from a bank undergoing major reorganisation were divided into two matched groups. The experimental group spent three days in a LAC designed to give them self- insight and an understanding of the bank’s requirements during the transformation. The control group received no treatment. Both groups were measured before and after the LAC on a self-report measure and a peer assessment questionnaire completed by subordinates. Fifty-eight managers completed both pretest and posttest measures. Whilst the subordinates of the control group reported a drop in their managers’ empowerment, the subordinates of the experimental group reported a substantial improvement in their managers’ empowerment. The difference between the groups was significant for five of the six areas measured. The difference between the self-reported performance of the two groups of managers was significant for only one area. These findings suggest that the LAC could provide a solution to companies faced with the potentially destructive impact of major transition on management effectiveness.

F​

​​​​Fisher, Greg & Abdo, A. (2007). The impact of reported corporate governance disclosure on the financial performance of companies listed on the JSE. Investment Analyst Journal, 66, 43-56.

​​​​Large scale surveys of UK (CBI, Deloitte and Touche, 1996) and US (Daily and Dalton, 1994) companies a decade ago suggested that the majority of respondents felt that the heightened focus on corporate governance had no positive impact on corporate performance. The general feeling emerged that sound financial performance excuses poor governance (Pic, 1997).

G

​​​​Goldman, Michael. (2011). Post-crisis sports marketing business model shifts. Managing Global Transitions: International Research Journal, 9(2), 171-184.

The impact of economic recessions on business strategy and marketing has recently received increased research attention. However, these contributions are limited, especially with respect to sports marketing businesses and those operating in emerging markets. The main aim of this study was to examine the impact of the global recession on the business models of sports marketing businesses. Qualitative data were collected via semi-structured interviews with executives at market-leading sports marketing businesses in South Africa. Grounded theory data analysis was conducted to understand the common patterns within the data. The results of the research point to four significant business model shifts, influencing the customer value proposition, agency relationships, revenue models and staffing approaches of sports marketing firms. Theoretical and practical implications are discussed including the suggestion to revisit the business model upon which sports marketing businesses compete in a post-crisis world.​​​​

Goldman, M. & Johns, K. (2009). Sportainment: changing the pace of limited-overs cricket in South Africa. Management Decision, 47(1), 124-136.​​​​

​​​​Purpose: The purpose of this study is to document and analyse Standard Bank of South Africa's sponsorship of Standard Bank Pro20 Cricket as a case study of effective cricket, stadium and broadcast sponsorship activation.
Design/Methodology/Approach: An in-depth case study methodology is employed, drawing on quantitative and qualitative data. Findings: The main conclusion is that a partnership approach to sponsorship and the creative use of multiple sponsorship activations contributes to the achievement of sponsorship objectives. Research limitations/implications: The study is limited to one case of a large-scale sponsor of a major international sport. As such, it has limited generalisability to dissimilar sponsorship situations.
Practical implications: The case documented and analysed suggests that sponsoring organisations may increase their return on sponsorship investment through the adoption of a partnership approach to sponsorship.
Originality/Value: The study answers the call of Irwin, Zwick and Sutton, Chadwick and others to significantly increase the researching of sports marketing theory and practice outside traditional Western markets. It documents the creative leverage of a new cricket format that has received no attention in the academic literature, although the 20-over game continues to enjoy widespread and strong sponsor, media and fan support.

H

​​​​Higgs, Nicola, & Abratt, R. (1995). Implementing business ethics in large British organisations. South African Journal of Business Management, 26(1), 1-6.

​​​​Analyses the results from a study of English companies which investigated the stance adopted by business in its approach to ethics. Establishes how English companies implement codes of ethics in their organisations.

​​​​Higgs, N., & Abratt, R. (1994). Marketing planning practices of South African companies. Marketing Intelligence & Planning, 12(2), 26-31.

​​​​There has been rapid political, social and economic change in South Africa since 1990. As a result of the fall of apartheid, South Africa is slowly taking its place in the global village. Foreign companies are considering South Africa as a good market for their goods and as a source of supply of raw material and partly processed goods. Aims to review the marketing planning practices of large South African companies. A comprehensive review of the marketing planning literature has been undertaken. A study of 73 companies quoted on the Johannesburg Stock Exchange was undertaken. It was established that all these companies had a comprehensive annual marketing plan and they followed the procedures, and used the techniques described in the normative marketing literature. Global organizations looking for South African partners will find the level of marketing planning sophistication highly satisfactory.

Higgs, N., Abratt, R., & Nel, D. (1992). An examination of the ethical beliefs of managers using selected scenarios in a cross-cultural environment. Journal of Business Ethics, 11(1), 29-35.​​​​

​​​​Academic literature addressing the topic of business ethics has paid little attention to cross-cultural studies of business ethics. Uncertainty exists concerning the effect of culture on ethical beliefs. The purpose of this research is to compare the ethical beliefs of managers operating in South Africa and Australia. Responses of 52 managers to a series of ethical scenarios were sought. Results indicate that despite differences in socio-cultural and political factors there are no statistically significant differences between the two groups regarding their own ethical beliefs. Results thus support the view that culture has little or no impact on ethical beliefs.

Crawford, V., Hofmeyr, K., & Price, G. (2015). The relationship between personality and the capacity to think strategically. South African Journal of Labour Relations, 39(1), 131-154.

Pillay, D., Hofmeyr, K., & Wöcke, A. (2014). Mission attachment and job embeddedness in the trade union sector in South Africa. South African Journal of Labour Relations, 38(1), 2-39. 

Marais, A., & Hofmeyr, K. (2013). Corporate restructuring: Does damage to institutional trust affect employee engagement? South African Journal of Labour Relations, 37(2), 9-29.

Louw, K., Sutherland, M., & Hofmeyr, K. (2012). Enabling and inhibiting factors of productive organisational energy. South African Journal of Labour Relations, 36(2), 9-29.

Hofmeyr, K., & Mzobe, C. (2012). Progress towards advancing women in south african organisations: Myth or reality. African Journal of Business Management,6(4), 1276-1289.

​​​​Hofmeyr, Karl, Richardson, A., & Cook, J. (2011). How leaders generate hope in their followers. South African Journal of Labour Relations, 35(2), 47-66.

K

Morokane, P., Chiba, M., & Kleyn, N. (2016). Drivers of employee propensity to endorse their corporate brand. Journal of Brand Management, 23(1), 55-66.

Haarhof, G. & Kleyn N. (2012). Open Source Brands and their Online Brand Personalities. Journal of Brand Management, 20(2), 104–114.

Kleyn, Nicola, Abratt, R. (2012). Corporate identity, corporate branding and corporate reputation: integration and implementation. European Journal of Marketing.

​​​​Purpose: The main purpose of this paper is to explore, define, reconcile and depict corporate identity (CI), corporate brand (CB) and corporate reputation (CR) in a framework that reflects the dimensions of these constructs, discriminates between them and represents their inter-relatedness. Desing/Methodology/Approach: The paper draws on key literature relating to CI, CB and CR. FINDINGS – The paper develops a framework that explains and aligns the drivers of CB and CR. Originality/Value: The article reconciles disparate views from a number of theoretical streams that have investigated CI, CB and CR and develops a comprehensive framework that shows that although the management and measurement of the constructs may overlap, the constructs themselves are not interchangeable.

​​​​Kleyn, N., Rediar, C., & Abratt, R. (2012). Directors' perspectives on the meaning and dimensions of corporate reputation. South African Journal of Business Management.

​​​​The purpose of this research is to explore the perspectives of directors to determine how they define, perceive, value, build and manage corporate reputation. A qualitative research design was employed. In order to gauge director’s perspectives, 12 semi-structured, in-depth interviews were conducted with the directors of a multi-national company based in South Africa. The company operates in a highly regulated and competitive industry. The findings demonstrate that corporate reputation is indeed acknowledged as a key, intangible asset. Whilst the directors did not possess clear insight into building and managing corporate reputation, several key themes emerged. We report on their perceptions of the definitions, key dimensions and value ascribed to corporate reputation. By demonstrating the value that is associated with corporate reputation and by ascertaining that directors are indeed the appropriate custodians of corporate reputation, there will be better acceptance in introducing corporate reputation as a board room agenda item, that is well understood and implemented.

​​​​Kleyn, N., Abratt, R., Chipp, K., & Goldman, M. (2012). Building a strong corporate ethical identity: Key findings from suppliers. California Management Review, 54(3), 61-76.

The building of Corporate Ethical Identity, a process referred to as "ethicalization," is an important strategic imperative and represents an integral part of a firm's attempts to build a strong corporate identity across its various stakeholders. This article focuses on ethicalization at SAB Ltd (South Africa's leading producer and distributor of alcoholic and non-alcoholic beverages, and one of the nation's largest manufacturing firms) and the impact of its efforts on supplier perceptions. Leaders and managers must consider six factors that drive the formation of ethical identity across an organization's stakeholders: trusted relationships; organizational citizenship; development and enforcement of ethical policy; procurement contracting; provision of information; and procurement administration.​​​​

​​​​Kleyn, N., Marta, J., Mullin, K., & Singhapakdi, A. (2001). Corporate ethical values in South Africa. Thunderbird International Review, 43(6), 755-772.

​​​​This study analyzes the influence of a number of variables on the ethical decision making process of South African marketers. Specifically, it measures the relative influences of ethical perception, idealism, relativism, and corporate ethical values on the ethical intentions of the marketers. The target respondents were practitioner members of the South African Institute of Marketing Management. The survey results indicate that perception of an ethical problem and relativism are significant predictors of ethical intentions, as hypothesized. The other two predictor variables (idealism and corporate ethical values) were not significant. The results regarding idealism are generally consistent with those from previous studies, but corporate ethical values has usually been found to be significant, and not just in the United States. These nonsignificant findings are among the most intriguing of the study.

​​​​Kleyn, N., Polonsky, M.J., Brito, P., & Pinto, J. (2001). Consumer ethics in the European Union: A comparison of Northern and Southern views. Journal of Business Ethics, 31(2), 117-130.

​​​​There is a growing interest in understanding consumer ethical actions in relation to their dealings with firms. This paper examines whether there are differences between Northern and Southern European Union (EU) consumers' perceptions of ethical consumer behaviour using Muncy and Vitell's (1992) Consumer Ethics Scale (CES). The study samples 962 university students across four Northern EU countries (Germany, Denmark, Scotland, The Netherlands) and four Southern EU countries (Portugal, Spain, Italy, Greece). Some differences are identified between the two samples, which might question the ability of organisations to consider the EU as one homogeneous market.

​​​​Kleyn, N., Abratt, R., & Brewer, R. (2000). The views of South African marketers concerning consumer privacy. South African Journal of Business Management, 31(4), 156-165.

​​​​As part of the transition to democracy, the South African government has expressed its intention to table the Open Democracy Bill, which addresses the issue of the collection and dissemination of personal information. This bill will, in its present form, severely damage the direct marketing industry in South Africa. A literature review of consumer privacy has been completed. A survey of 246 marketers was undertaken. The results show that there are two distinct clusters, a pro-privacy group and an anti-privacy one. In this article some conclusions are developed that are of interest to policy makers and managers.

Kleyn, N., & Kapelianis, D. (1999). The role of professional codes in regulating ethical conduct. Journal of Business Ethics, 19(4), 363-374. ​​​​

This paper investigates the regulation of ethical behavior of professionals. Ethical perceptions of South African professionals operating in the business community (specifically accountants, lawyers and engineers) concerning their need for and awareness of professional codes, and the frequency and acceptability of peer contravention of such codes were sought. The existence of conflict between corporate codes and professional codes was also investigated. Results, based on 217 replies, indicated that the professionals believe that codes are necessary and are relatively aware of the contents of such codes. Despite these ethical tendencies, respondents (particularly lawyers) believe that their peers contravene their professional codes relatively often. No significant differences in ethical tendencies between professionals consulting to and those working in business were found. Many respondents were regulated by more than one code of ethics, but few experienced conflict between such codes. In the events of conflict occurring professionals chose to adhere to their professional code above others.​​​​

​​​​Kleyn, N., & Singhapakdi, A. (1999). Selected antecedents and components of ethical decision-making processes of American and South African marketers: A cross-cultural analysis. International Marketing Review, 16(6), 458-476.

​​​​Compares the personal ethical ideologies of idealism and relativism of American marketers with their South African counterparts. The perceptions of ethical problems, ethical intentions, and corporate ethical values of the parties are also contrasted. The findings indicate that South Africans were more idealistic and less relativistic than their American counterparts. The hypotheses that there will be no differences between South African and American marketers in terms of their ethical perceptions and intentions were not supported. The results generally indicate that South African marketers are more likely to perceive ethical problems than American marketers. However, the survey results revealed that South African marketers tend to be less ethical in their intentions to resolve an ethical problem than their American counterparts. Corporate citizens of South African firms were found to have slightly higher corporate ethical values than their American counterparts, as hypothesized.

​​​​Kleyn, N. (1998). Unethical consumer behaviour: An exploratory investigation. Management Dynamics, 7(1), 35-52.

​​​​Kleyn, N. see also Higgs, N.

M​

​​​​Magner, Colleen (2008). Contextual leadership development: a South African perspective. European business review.

P​

Wilson-Prangley, A., & Olivier, J. (2016). Integrative public leadership in the private sector in South Africa. Development Southern Africa, 1-14. doi:10.1080/0376835X.2015.1120653

Mishan, M., & Prangley, A. (2014). Barries to inter-organizational collaboration amongst performing arts organisations in South Africa. South African Theatre Journal, 27(2), 125-146.

Pretorius, P. (2013). Introducing in-between decision points to TOC’s five focusing steps.  International Journal of Production Research, 52(2), 1-11. doi: 10.1080/00207543.2013.836612 

Crawford, V., Hofmeyr, K., & Price, G. (2015). The relationship between personality and the capacity to think strategically. South African Journal of Labour Relations, 39(1), 131-154.

Price, G., & Muto, L.  (2015). An offender’s perspective of what motivates and deters white collar crime in the South African workplace. South African Journal of Labour Relations, 38(2).

Price, G. (2013). Changes in attitudes towards business ethics held by former South African business management students, Journal of Business Ethics, 113(3) 429 - 440

Diamond, G., & Price, G. (2012). The political economy of corporate governance reform in South Africa. South African Journal of Business Management, 43(1).

S​

Saville, A. D., & White, L. (2015). Ensuring that Africa keeps rising: The economic integration imperative. South African Journal of International Affairs, 22(1), 1-21.

​​​​Saville, Adrian. (2011). Measuring the impact of trade finance on country trade flows: a South African perspective. South African Journal of Economic and Management Sciences = Suid-Afrikaanse Tydskrif vir Ekonomiese en Bestuurswetenskappe, 14(4), 466-478.

Saville, A. (2010). What are the chances of a double dip recession? Management Today, 28(9), 16-17.​​​​

Saville, A. (2009). Using an inflation-augmented price-earnings ratio to guide tactical asset allocation. South African Journal of Economic & Management Sciences, 211-227. ​​​​

Asset allocation plays a central role in determining investment outcomes, and available evidence shows that portfolio results can be enhanced through tactical asset allocation if managers use the simple price-earnings ratio as a predictor of equity returns. Recently, some international evidence has emerged which shows that, by augmenting the price-earnings metric with information about consumer price inflation, further enhancements can be achieved in tactical asset allocation. This study reviews these arguments as they apply to South Africa, and finds that an inflation-augmented price-earnings ratio is more successful in forecasting equity returns than is the simple price-earnings ratio. Moreover, the metric is found to be significant in explaining relative asset class returns. On a risk-adjusted basis, however, the tool fails to improve the portfolio results when compared to a buy-and-hold strategy.​​​​

Saville, A.(2006). Using Benford's Law to detect data error and fraud: an examination of companies listed on the Johannesburg Stock Exchange. South African journal of economic and management sciences, 9(3), 341-354​​​​

ccounting numbers generally obey a mathematical law called Benford's Law, and this outcome is so unexpected that manipulators of information generally fail to observe the law. Armed with this knowledge, it becomes possible to detect the occurrence of accounting data that are presented fraudulently. However, the law also allows for the possibility of detecting instances where data are presented containing errors. Given this backdrop, this paper uses data drawn from companies listed on the Johannesburg Stock Exchange to test the hypothesis that Benford's Law can be used to identify false or fraudulent reporting of accounting data. The results support the argument that Benford's Law can be used effectively to detect accounting error and fraud. Accordingly, the findings are of particular relevance to auditors, shareholders, financial analysts, investment managers, private investors and other users of publicly reported accounting data, such as the revenue services.​​​​

Saville, A. (2004). Improving the usefulness of accounting data in financial analysis. The South African journal of economic and management sciences, 7(3), 539-564.​​​​

​​​​Accounting practices are flawed. As a consequence, the accounting data generated by firms are generally open to interpretation, often misleading and sometimes patently false. Yet, financial analysts place tremendous confidence in accounting data when appraising investments and investment strategies. The implications of financial analysis based on questionable information are numerous, and range from inexact analysis to acute investment error. To rectify this situation, this paper identifies a set of simple, yet highly effective corrective measures, which have the capacity to move accounting practice into a realm wherein accounting starts to 'count what counts'. The net result would be delivery of accounting data that more accurately reflect firms' economic realities and, as such, are more useful in the task of financial analysis.​

Rautenbach, R., Sutherland, M., & Scheepers, C. B. (2015). The process by which executives unlearn their attachments in order to facilitate change. South African Journal of Labour Relations, 39(2).​

Scheepers, Caren. (2014). Leaders' contextual acumen makes all the difference. Unpublished manuscript.​​​​

Fascinating how smart people can occasionally be so stupid. How many times have we shaken our heads in astonishment at brilliant leaders’ judgment errors and inappropriate behaviour in particular situations? Likewise, leaders often miss important market opportunities due to a lack of tuning into subtle changes in their environment​​​​

​​​​Scheepers, C. & Marais, S. (2012). Constructing the Medupi power station (Case Ref. 9B12C015). Ontario: Ivey Publishing

Scheepers, C. & Shuping, J. (2011). The effect of human resource practices on psychological contracts at an iron ore mining company in South Africa. SA Journal of Human Resource Management/SA Tydskrif vir Menslikehulpbronbestuur, 9(1), 302.​​​​

​​​​Research purpose: The objective of this study was to examine the effect of human resource practices on the types of psychological contracts in an iron ore mining company in South Africa empirically.

​​​​Main findings: The findings showed that most participants have relational contracts with the organisation. Another 22% have balanced contracts, 8% have transitional contracts whilst only 1% have transactional contracts. The study suggests that there are relationships between these psychological contracts and specific human resource practices. The study found that training and development was the most important human resource practice for developing relational and balanced contracts. Employees thought that they contributed more than their employer did to the relationship. The researchers developed a model to illustrate the influence of the various human resource practices on psychological contracts.

​​​​Contribution/value-add: Based on this empirical study, the researchers proposed a conceptual model to illustrate the relationship between different psychological contracts and specific human resource practices, like training and development, which had the strongest relationships with relational contracts.

Sutherland, M., Naidu, G., Seabela, S., Crosson, S. & Nyembe, E. (2015) The components of career capital and how they are ccquired by knowledge workers across different Industries. South African Journal of Business Management, 46(4), 1-10.

Rautenbach, R., Sutherland, M., & Scheepers, C. B. (2015). The process by which executives unlearn their attachments in order to facilitate change. South African Journal of Labour Relations, 39(2).

Dlamini, M., Sutherland, M. & Werbeloff, M. (2015) The effectiveness of hybrid pay incentives on work-team performance: A longitudinal study. South African Journal of Economic and Management Sciences, 18(4), 1-13.

​​​​Sutherland, Margie & Gilbert, G. (2013). The paradox of managing autonomy and control. South African Journal of Business Management, 44(1).

​​​​Managers are frequently offered conflicting advice as to how to increase organisational success. One of these complex dilemmas is whether to grant employees autonomy, which may lead to self-management and empowerment or alternatively, exercise control which may enable managers to retain a well-focussed and goal driven workforce. This research focuses on the key factors that influence the various combinations of autonomy and control and their respective outcomes. Qualitative exploratory research was conducted using in-depth interviews with 16 leading South African management and Human Resource experts to uncover their insights regarding this dilemma. The findings suggest that combinations of autonomy and control can co-exist. Management are able to create environments with high levels of autonomy whilst simultaneously retaining high levels of monitoring and oversight when the management control is indirect. It was found that the seemingly contradictory practices of autonomy versus control are a paradox, not a dilemma. Seventeen factors were identified that influence the different levels of autonomy and control in organisations.

Sutherland, M., Hofmeyr, K. & Louw, K. (2012). Enabling and inhibiting factors of productive organisational energy. South African Journal of Labour Relations, 36(2), 9-29​​​​

Organisational energy is described in the literature as a renewable resource that can be viewed as a differentiator between excellent and mediocre performance of organisations. The level of intensity of energy can have a positive or negative effect on employees. The objective of this research was to identify the drivers and inhibitors of productive organisational energy and to determine whether the factors differ across the various levels of employees in an organisation. The nominal group technique was used to conduct qualitative exploratory research in a mining organisation. Fifty-eight employees at three different levels at two coal mines participated in the study. The main enabling factors of productive organisational energy were found to be recognition, job security and management support. The major inhibitors were found to be bureaucracy, lack of discipline and lack of resources. Substantial differences were found between the respondents from the three different levels of employees. The implications of these findings are discussed.​​​​

Sutherland, M. & Wocke, A. (2011). The symptoms of an consequences to selection errors in recruitment decisions. South African Journal of Business Management, 42(4), 23-32.​​​​

The ability to select effective human capital has long been viewed as the bedrock of the human resource function and a driver of organisational success. There is a plethora of literature available on recruitment and selection methodologies but little empirical evidence of the consequences to selection errors. Data was gathered on 393 incidents of selection errors across a wide range of industries. The symptoms and attribution of, and the wide-ranging consequences to, these selection errors were documented. Methods to rectify the selection error and the outcome of those attempts were also explored. Recommendations based on these empirical findings are offered. ​​​​

​​​​Lamb, M. & Sutherland, M. (2010). The components of career capital for knowledge workers in the global economy. International Journal of Human Resource Management, 21(3), 295-312.

Sutherland, M., & Mogale, L. (2010). Managing virtual teams in multinational companies. South African Journal of Labour Relations, 32, 7-22. ​​​​

​​​​Globalisation and advances in technology have led to the rapid increase in permanent virtual teams in multinational companies as a form of competitive advantage. The main purpose of this research was to identify perceptions on leadership preferences and factors enabling or inhibiting the effective leadership of virtual teams. The qualitative phase of this research generated in-depth knowledge on the constructs for phase 2, which consisted of a survey of 59 respondents from four continents. The outcome revealed that socio-emotional leadership capabilities are key to success in the leadership of multinational virtual teams. Specific recommendations are made to virtual team leaders on the basis of consistent views expressed by managers and subordinates on findings on the relative importance of key leadership skills, plus the enablers and inhibitors of managing virtual teams.

Sutherland, M., Serretta, H., & Bendixen, M. (2009). Core corporate governance dilemmas facing boards: a South African perspective. South African journal of economic and management science, 12(2), 194-210. ​​​​

​​​​Directors and boards face many challenges in terms of managing complexity. A key factor of success in practising good corporate governance is the board’s ability to cope with paradox. The purpose of this research has been to explore the core corporate governance dilemmas facing boards. The investigation was qualitative in nature using the Delphi technique. Six core corporate governance dilemmas facing board members were identified one of which is not mentioned in the international literature. The findings should provide directors with an ability to identify the nature of the paradoxes to which they need to respond.

​​​​Sutherland, M., & Douglas, R. (2009). An organisational change model for successful HIV/AIDS workplace interventions. South African Journal of Labour Relations, 33(2), 54-74.

​​​​It is essential that the business community responds to the threat presented to both economic and societal sustainability by HIV / AIDS. The National Strategic Plan for HIV & AIDS has called for the private sector's involvement in a multi-sectoral response. No empirical studies exist on the process of change management used in successful HIV / AIDS change initiatives in organisations. This fine-grained qualitative research set out to meet that need. Ten experts were asked to identify the sample of ten companies with HIV / AIDS workplace interventions widely acknowledged to be successful. In-depth interviews were conducted with the manager responsible for HIV / AIDS interventions at each of these companies. The change efforts were found to be large scale and motivated by a combination of a moral obligation and a persuasive business case and to depend on nine crucial elements, along with commitment from the most senior leadership in the organisation. Legitimate and expert power bases were most commonly leveraged. A detailed model for the change management process is offered which could assist organisations that wish to successfully implement HIV / AIDS workplace interventions.

Sutherland, M., & Wocke, A. (2008). The impact of employment equity regulations on psychological contracts in South Africa. International journal of human resource management, 19(4), 528-542.​​​​

​​​​This article will show the impact of employment equity legislation on the psychological employment contracts of the three main employee groupings in South African society. This study is important in that it fills the gap in the literature that identifies labour market regulations as an important shaping influence on the psychological contract. More than 500 managers from across South African industry and from all ethnic groups were surveyed to identify differences in psychological contracts and attitudes towards the social transformation regulations. We found that the legislation has impacted differentially on the three groupings mainly in terms of their loyalty to stay with their organizations, the focus on their career development in terms of the external labour market and the degree to which they felt they had been affected by the legislation. Additionally we find that the perceived linkage between job satisfaction and labour turnover is significantly weakened by labour market legislation in the case of the beneficiaries of the legislation, but that this may not be the case for those negatively affected by the legislation. The findings have significant implications for the HRM practices of multinationals operating in societies with significant labour market regulatory interventions.

​​​​Sutherland, M., Little, G., & Tudor, M. (2007). Accelerating the implementation of the clean development mechanism in South Africa. South African journal of economic and management sciences, 10(4), 395-411.​

One of the ways the world has responded to the threat of global warming is by drafting the Kyoto Protocol and the associated Clean Development Mechanism (CDM) to reduce greenhouse gases. South Africa is an attractive country for the implementation of industrial CDM projects, yet lags behind many other countries. This exploratory research determines the factors that are causing South Africa to lag other developing countries in the implementation of industrial CDM projects and the interventions that will have the most impact on accelerating the implementation in the future. The research involved semi-structured interviews of 30 experts involved in the South African CDM process. Clustering was then performed to create a matrix of influencing factors to develop a framework for required intervention. If implemented, the matrix will allow CDM practitioners to develop an implementation strategy within South African industry.​​​​

​​​​Sutherland, M., & Boyd, G. (2006). Obtaining employee commitment in living the brand of the organisation. South African journal of business management, 37(1), 9-20.

​​​​In the competitive business environment, brand management is viewed as a critical success factor. The importance of building a brand-centric organisation in which employees are ambassadors for the brand is often espoused, but there has been little empirical evidence of how managers should set about achieving this. This exploratory qualitative study consisted of four case studies in organisations where employees are acknowledged to 'live the brand' to obtain empirical evidence of those factors that influenced employee performance. The study uncovered six key practices that managers should implement in an integrated manner when driving an intervention to enable employees to live the brand. The findings also contradict some of the human resource literature in what was found to be unimportant.

​​​​Sutherland, M., & Selby, K. (2006). Space creation: a strategy for achieving employment equity at senior management level. South African journal of labour relations, 30(2), 42-65.

​​​​This research set out to establish whether "space creation" is a viable strategy for accelerating employment equity. In this exploratory qualitative research a series of in-depth interviews were conducted with acknowledged experts in the field. The data from these interviews were analysed to assess "space creation" and other employment equity approaches. A model was developed which links the affirmative action and "space creation" strategies to the organisation's human resource strategy and planning activities, its strategic business objectives and ultimately the business case for change. A second model has been developed which links the "space creation" strategies to their associated risks and rewards to enable organisations to choose the strategy that best fits their circumstances.

​​​​Sutherland, M., & Carmichael, T. (2005). A holistic framework for the perceived return on investment of an MBA. South African journal of business management, 36(2), 57-70.

Sutherland, M., Gaylard, M., & Viedge, C. (2005). The factors perceived to influence the retention of information technology workers. South African journal of business management, 36(3), 87-97.​​​​

W

Taljaard, C., Ward, M., & Muller, C. (2015) Board diversity and financial performance: A graphical time-series approach. South African Journal of Economic and Management Sciences, 18(3), 425-448.

Miller, C., & Ward, M. (2015). The market impact on shares entering or leaving JSE indices. Investment Analysts Journal, 44(1), 84-101.

Wesson, N., Muller, C., & Ward, M. (2014). Market reaction to open market share repurchases on the JSE. South African Journal of Business Management, 45(4), 59-69.

Kruger, T., Ward, M., & Goldman, M. (2014). The impact of new, renewal and termination sponsorship announcements on share price returns. International Journal of Sports Marketing & Sponsorship, 15(4), 223-238

​​​​Muller, C., & Ward, M. (2013). Style-based effects on the Johannesburg Stock Exchange : a graphical time-series approach. Investment Analyst Journal, 77, 1-16.

Ward, Mike & Muller, C. (2012). Empirical testing of the CAPM on the JSE. Investment Analysts Journal, 76.

​​​​Fama’s (1970) efficient market hypothesis (EMH) and the capital asset pricing model (CAPM), jointly ascribed to Markowitz (1952), Treynor (1961), Sharpe (1964), Lintner (1965) and Mossin (1966), remain the foundation of most finance and investment courses. This is surprising, given the sustained criticism of the model and its assumptions, and is a reflection of the elegance and parsimony of the theory over the empirical evidence. On the Johannesburg Stock Exchange (JSE), several authors have examined and noted significant inadequacies relating to the single factor CAPM, particularly with regard to the dual nature (resources versus industrial shares) which characterise this bourse. Van Rensburg and Slaney (1997) advocate the use of a two factor arbitrage pricing theory (APT) model, but show that (at least for industrial shares), additional parameters are required (Van Rensburg, 2001). We revisit this ground using an improved methodology and data set over the period 31 December 1986 to 31 December 2011. We find that portfolios constructed on the basis of ranked beta exhibit a monotonic, inverse relationship to what the CAPM prescribes for most of the time-series. The use of the single beta CAPM is therefore inappropriate.

​​​​Ward, M., & Thaver, K. (2011). Abnormal Volume Traded as an Indicator of Insider Trading. Journal of Studies in Economics and Econometrics, 35(1), 1-20.

​​​​Ward, M., & Muller, C. (2011). Active share on the JSE. Investment Analysts Journal, 72(2), 17-26.

​​​​Ward, M., & Muller, C. (2010). Momentum effects in country equity indices. Studies in Economics and Econometrics, 34(1), 111-127.

This paper examines the 70 country indices which comprise the MSCI world index as a representative set of global equity investment opportunities, and examines momentum and mean reversion effects in these. We show that persistent and significant effects do exist, particularly with regard to short-term momentum. A strategy of holding for one month, a portfolio of the four best performing MSCI country indices over the previous 11 months, was found to persistently out-perform an equal weighted benchmark by around 10% per annum over the 39 year period from 1970 to 2009.​​​​

Ward, M., Muller, C. & Pillay, N. (2010). Fund size and returns on the JSE. Investment Analysts Journal, 71, 1-11.

Market sentiment, the popular press and academia are divided on the question of whether the size of a fund affects its performance. This study examines the issue by constructing hypothetical portfolios of varying sizes, using historical data for each of the years 1991 to 2008. Each portfolio consisted of 40 randomly selected stocks, chosen from an investment universe of the top 160 JSE listed shares in terms of market capitalisation. Rules were applied to limit the concentration of any particular share and to ensure that trading volumes were practical. Simulation was then used to explore the boundaries of possible returns for each portfolio. The results of the simulation indicate that a fund's size is a contributing factor to its performance; liquidity being the underlying reason for this relationship. Performance was found to be affected for fund sizes greater than about R5bn. Large funds are increasingly forced towards market-cap weightings with a resulting concentration in resource stocks. The relevance of these findings to the South African fund management industry is that large funds should switch to passive investment strategies. Small to medium sized portfolio managers must be aware of the size effect and ensure that their funds are 'capped'.

Ward, M., & Muller, C. (2010). The long-term share price reaction to Black Economic Empowerment announcements on the JSE. Investment Analysts Journal, 71, 27-36.​​​​

Black Economic Empowerment has been one of the South African government's primary mechanisms for addressing the economic imbalances of the apartheid era. Voluntary sector "charters", and more recently legislation, have required largely white owned business enterprises to become more inclusive across key areas of economic empowerment, including the provision of minimum levels of ownership for black shareholders. This research employs event study methodology to examine the long-term impact on the share prices of listed companies after announcements are made relating to black empowerment deals which impact equity ownership. The research examines 118 announcements and finds a positive cumulative abnormal return of around 10% after the first year. The positive result is confined to smaller companies, with market capitalisation of less than R3,5bn, whilst large companies experience a marginally negative cumulative abnormal return. The results also show that those companies which made BEE announcements prior to May 2005 ('first-movers') did somewhat worse than those who followed. Finally, the results were found to be consistent for companies making further BEE related announcements, although the cumulative abnormal returns were lower at around 6%.​​​​

Ward, M., & Terblanche, R. (2009). Market timing on the JSE using exchange rate fluctuations. Investment Analysts Journal, 70, 1-10.​​​​

​​​​Conventional market timing is the process of switching asset classes to meet expectations about economic or sector related forecasts. This paper extends existing research by examining the risk and return outcomes of a market timing approach in which portfolios of ‘Rand-play’ and ‘Rand-hedge’ shares are switched according to fluctuations in the exchange rate. Three sets of exchange-rate sensitive portfolios are identified on the JSE. A market timing strategy of switching between these portfolios on a monthly basis is then examined for the 10 year period 1998 – 2008. The results show that exceptional returns, in excess of 35% per annum above the benchmark can be obtained, dependant upon forecasting ability. To be certain of out-performing the benchmark, a forecasting accuracy of around 70% is required, but even with considerably lower ability it is possible to out-perform. These findings indicate that whilst similar levels of forecasting accuracy are required, bigger potential returns are possible for market timing strategies relating to currency fluctuations when compared to conventional asset switching strategies.

​​​​Ward, M., & Khan, A. (2008). The impact of collections strategy on the profitability of unsecured bank micro-loans. Studies in economics and econometrics, 32(3), 1-19.

​​​​This research examines bank collections strategy by comparing two micro-loan books; one using a behaviour based strategy, in which a client is encouraged to re-establish regular payments and the other using an arrears based strategy, where the client must repay missed instalments immediately. The results show that the collections outcome does not vary according to collections strategy. However, in contrast to industry best practice, behaviour based collections results in 3,37% more revenue when the loan is rehabilitated, and a 4,54% reduction in losses when the loan is written off. The study also finds that the cost of using a behaviour based collections strategy is lower.

​​​​Ward, M., & Du Plessis, A.J. (2008). A note on applying the Markowitz portfolio model as a passive investment strategy on the JSE. Investment analyst journal, 69, 39-46.

Harry Markowitz is generally acknowledged as the father of modern portfolio theory after publishing his seminal paper in 1952, for which he (jointly) received a Nobel Prize in 1990. Markowitz (1952) and Tobin (1958) showed that it was possible to identify the composition of an optimal portfolio of risky securities, given forecasts of future returns and an appropriate covariance matrix of share returns. This research endeavours to apply the theory of Markowitz to the Johannesburg Securities Exchange (JSE) to establish whether an optimal portfolio can be identified and used as an effective trading rule. Weekly data over 11 years on the top 40 JSE listed companies was analysed to construct Markowitz mean-variance optimised portfolios using ex-ante data. The optimal portfolio was then selected and re-balanced periodically, and the returns compared against the FTSE/JSE ALSI40 index. The study found that the trading strategy significantly outperformed the market in the period under review.​​​​

Ward, M., & Smit, C. (2007). The impact of large acquisitions of the share price and operating financial performance of acquiring companies listed on the JSE. Investment analyst journal, (65), 5-14.​​​​

​​​​A KPMG survey in London found that 53% of mergers and acquisitions destroy shareholder value (Brewis, 2000). Andrade, Mitchell and Stafford (2001) state that two of the main objectives in corporate finance research are the measurement of value creation or destruction through mergers and acquisitions, and how this value creation or destruction is distributed between the acquiring company and the target company. The aim of this research is to determine whether large acquisitions, concluded in 2001, 2002 or 2003 add value to acquiring companies listed on the JSE Limited (“the JSE”). The researchers examined the share price performance of the acquiring company around the acquisition announcement date and the impact on operating financial performance in the two years subsequent to the acquisition. These two most popular measures are used to provide a comprehensive analysis of the wealth effects of large acquisitions on a sample of South African acquiring companies. In contrast to the majority of international studies that only consider mergers and tender offers where both the acquirer and the target are publicly traded, this study considers all mergers and acquisitions, specifically including unlisted targets.

​​​​Ward, M. (2006). Factors affecting credit assessment. South African journal of accounting research, 14(1), 39-50.

​​​​Ward, M., & Muller, C. (2006). Seasonal timing using put option portfolio protection on the on the JSE. Investment analyst journal, (64), 5-14.

​​​​Ward, M., & Muller, C. (2005). Hedge funds: an introduction. Investment analyst journal, (61), 49-54.

​​​​Hedge funds have shown remarkable growth as an asset class over the past few years, with an estimated $1 trillion in assets under management in 2004, and this figure expected to double in the next five years (HFR Report, 2004). The term "hedge fund" has its roots in the idea that high net-worth investors are more interested in protecting themselves from downside risk (i.e. hedging) than the conventional theories of risk and return might suggest. Unlike traditional unit trusts, which tend to be "long only" and measure performance against index type bench marks, hedge funds actively transact, seeking only positive returns, and to do so engage in short selling, derivative products and leveraged positions.

​​​​Ward, M., & Millson, R. (2005). Corporate governance criteria as applied in private equity investments. South African journal of business management, 36(1), 73-85.

Ineffective governance has often formed a backdrop to corporate failure with the resultant negative impact on stakeholders. In the field of private equity, investors have consistently received financial returns that outperform those of listed equities. This research investigates the relationship that private equity principals seek with their agents. The "agent-principal" relationship in private equity investments was investigated through a literature review and a survey of experienced private equity practitioners identified the key characteristics associated with this relationship. A conjoint analytical technique was used to measure the relative importance of the various attributes and the degree of preference or utility value for these attributes amongst a sample of 27 experts. The field research established that private equity investments are characterised by, inter alia, proactive agent-principal relationships; a relatively high level of shareholder activism; insistence on transparency; non-executive influence; and active performance management. While the implementation of these lessons may be a subject for future research, the current research has identified and prioritised corporate governance mechanisms that may be more generally applied.​​​​

Ward, M., Pascoe, G., & MacKenzie, D. (2005). The influence of economic factors on rights issue announcement. Investment analyst journal, (61), 17-28. ​​​​​

This study investigates a number of economic factors to determine whether individually or collectively they affect the share price response to a rights issue announcement on the JSE. It adds to the existing body of literature on new equity issue announcements and it will assist issuing firms and investors in obtaining a better understanding of what influences the valuation of shares when undertaking new equity issuances.​​​​

Saville, A. D., & White, L. (2015). Ensuring that Africa keeps rising: The economic integration imperative. South African Journal of International Affairs, 22(1), 1-21.

White, L. (2013). Emerging powers in Africa: Is Brazil any different? South African Journal of International Affairs, 20(1), 117-136.

​​​​White, Lyal (2010). Social challenges and progress in IBSA. The South African Journal of International Affairs, 17(3), 333-360.

​​​​White, L. (2010). Understanding Brazil’s new drive for Africa. South African Journal of International Affairs, 17(2), 221-242.

Following a period of some distancing through the 1980s and 1990s, Brazil has made a concerted effort to engage with Africa. Today, under the leadership of President Lula, Africa is clearly a priority, especially as Brazil emerges as a global economic power and leader of the developing South. Yet, relatively little is written of Brazil's engagement with Africa and the rationale behind the political and economic drive toward the continent. What is clear is that Brazil's engagement with Africa, viewed in the historical context, maintains its underlying foreign policy principles of economic development on the one hand and the preservation of autonomy in an asymmetric world on the other. Brazil's engagement with Africa has taken on a three-pronged approach of political diplomacy, commercial engagement and development co-operation. This is indicative of a new era of Brazilian foreign policy and Brazil's process of internationalisation in general. This is a complex and inter-related process that Brazil seems to have managed well through a high degree of diplomatic sophistication and open cooperation between the political, commercial and various development entities. Africa displays one of the best contextual examples of Brazil's delicate balancing act between commercial and strategic interests and external development assistance. The way Brazil manages this and builds on its positive image in Africa is indicative of its role and approach as a new and emerging power on the international stage. ​​​​

Wocke, A., & Moodley, T. (2015). Corporate political strategy and liability of foreignness: Similarities  and differences between local and foreign firms in the South African Health Sector. International Business Review, 24(4), 700-709. doi: 10.1016/j.ibusrev.2015.01.002

​Pillay, D., Hofmeyr, K., & Wöcke, A. (2014). Mission attachment and job embeddedness in the trade union sector in South Africa. South African Journal of Labour Relations, 38(1), 2-39. 

Wocke, Albert & Heymann, M. (2012). The impact of demographic variable on voluntary labour turnover in South Africa. International Journal of Human Resource Managmenet, 23(16), 3479-3494.​​​​

​​​​Wocke, A., & Klein, S. (2009). The protective incubator and the growth of South African multinationals. Thunderbird International Business Review, 51(4), 341-354.

​​​​Wocke, A., & Leeds, C. (2009). Methods to reduce the referral of frivolous cases to the CCMA. South African journal of Labour Relations, 33(1), 28-44.

​​​​The Commission for Conciliation, Mediation and Arbitration is a statutory labour dispute resolution body that was introduced in 1996. With over 125 000 referrals annually, experience has demonstrated that too many frivolous cases are referred, causing administrative problems and potentially increasing the cost of doing business in South Africa. Propositions, based on international experience from three other labour dispute resolution systems and recommendations in the literature, were tested with the aid of the Delphi technique. Three rounds were conducted with experts in the field. The findings show that there are a number of interventions which, if implemented, would prevent the referral of frivolous cases to the CCMA. In implementing the interventions, the underlying principle needs to be that rights of access and use should be enhanced and not narrowed. Therefore, the interventions focusing on enhancing systems are deemed preferable to those that use exclusionary criteria.

​​​​Wocke, A., & Sutherland, M. (2008). The impact of employment equity regulations on psychological contracts in South Africa. International Journal of Human Resource Management, 19(4), 528-542.

This article will show the impact of employment equity legislation on the psychological employment contracts of the three main employee groupings in South African society. This study is important in that it fills the gap in the literature that identifies labour market regulations as an important shaping influence on the psychological contract. More than 500 managers from across South African industry and from all ethnic groups were surveyed to identify differences in psychological contracts and attitudes towards the social transformation regulations. We found that the legislation has impacted differentially on the three groupings mainly in terms of their loyalty to stay with their organizations, the focus on their career development in terms of the external labour market and the degree to which they felt they had been affected by the legislation. Additionally we find that the perceived linkage between job satisfaction and labour turnover is significantly weakened by labour market legislation in the case of the beneficiaries of the legislation, but that this may not be the case for those negatively affected by the legislation. The findings have significant implications for the HRM practices of multinationals operating in societies with significant labour market regulatory interventions.​​​​

​​​​Wocke, A., & Von Ketelhodt, A. (2008). The impact of electricity crises on the consumption behaviour of small and medium enterprises. Journal of Energy for Southern Africa, 19(1), 4-12.

Small and medium enterprises (SMEs) will play a key role in future economic and social strategies in South Africa. However, we find that SMEs are particularly vulnerable to shocks in their external environment due to a general lack of skills and resources. This is critical as the future demand for electricity in South Africa is likely to outstrip supply and electricity will become increasingly unreliable and expensive. We surveyed 250 SMEs in Cape Town and found that the prevailing policy methods of changing electricity consumption behaviour: information campaigns, increasing prices, and providing rebates for energy savings, have had limited results and are unsustainable when applied to SMEs​​​​

​​​​Wocke, A., Bendixen, M., & Rijamampianina, R. (2007). Building flexibility into multi-national human resource strategy: a study tour of four South African multi-national enterprises. International Journal of Human Resource Management, 18(5), 829-844.

​​​​The study describes four approaches for configuring corporate HR strategy by firms from an emerging market when dealing with the integration-differentiation dilemma. Most research on strategic international HRM is on the perspective of the affiliate or discusses the degree of isomorphism between the HRM practices of the parent and affiliate. The authors apply a cross-case analysis of the cases of Nando's International, MTN International, Sasol and SABMiller, focus on the implementation of corporate HR strategies from the parent's perspective and show that MNEs differ in the scope and level of abstraction of their corporate HR strategies. It is further suggested that this is primarily due to differences in business model, the need to accommodate national culture, the type and role of organizational culture in the MNE, which impact on the level of convergence of HR management practices. In all of the cases, there is a large degree of variance in these factors.

​​​​Wocke, A., & Klein, S. (2007). Emerging global contenders: the South African experience. Journal of International Management, 13(3), 319-337.

The global strategies of three major South African MNEs are examined with a view to understanding the applicability of existing theories to developing country firms and their emergence as global industry leaders. Emerging market MNEs are motivated by both defensive and offensive considerations. At the same time, home market domination allows potential contenders to develop competitive firm-specific advantages that are non-location based. We propose that successful emerging market MNEs start to build their global positions on the back of asset exploitation, but soon follow with asset seeking behavior. When country specific advantages are less important, contenders can accelerate their development of non-location based FSAs rapidly. Finally, leadership and domestic dominance may be more important than country specific advantages in explaining the success of emerging market MNEs.​​​​

​​​​Wocke, A., & Van der Merwe, M. (2007). An investigation into responsible tourism practices in the South African hotel industry. South African Journal of Business Management, 28(2).

​​​​This paper sheds light on the reasons for the limited uptake of responsible tourism initiative memberships by hotels in South Africa, despite South Africa being regarded as a leader in the field of responsible tourism policy, with the drafting of responsible tourism guidelines by the South African Department of Environmental Affairs and Tourism (DEAT). The International Centre for Responsible Tourism's conference (hosted in South Africa) preceding the World Summit on Sustainable Development in 2002 resulted in the Cape Town Declaration, which was based on the guidelines developed by DEAT. There are currently two responsible tourism membership initiatives in South Africa. Non-experimental survey research was conducted among hotels about their understanding and implementation of responsible tourism practices. Sixty hotels responded to the survey, and it would appear that these hotels implement Corporate Social Responsibility / responsible tourism, though to varying extents. Many responding hotels do not participate in responsible tourism initiatives because of - amongst others - confusion about what the concept means, and a lack of awareness of such initiatives. This paper raises questions about the effectiveness of membership initiatives in promoting the implementation of responsible tourism practices and questions the importance of a common understanding and awareness of what responsible tourism entails in ensuring that policy is implemented.

​​​​Wocke, A., & Van der Spuy, M. (2003). The effectiveness of technology based (interactive) distance learning methods in a large South African financial services organisation. South African journal of business management, 34(2), 1-10.

The trend towards technology-based learning (or 'e-learning') is increasing, driven largely by anecdotal evidence of advantages. This article compares the effectiveness of the technology supported learner driven distance learning methods to the 'traditional' classroom based teaching model and the simulation model. The results of the training methods on a sample of cashiers in a major South African bank are compared and the study finds that there were significant differences between the outcomes of three methods of training that had an impact on performance and knowledge retention with classroom based learning having the greatest impact. ​​​​

Wocke, A. & Klein, S. (2002). The implications of South Africa's skills migration policy for country competitiveness. Development Southern Africa, 19(4), 441-454​​​​


BOOKS

Magner, Colleen, Bojer, M.M., Roehl, H., & Knuth, M. (2008). Mapping dialogue: essential tools for social change. Taos Institute.
Ward, Mike & Price, A. (2006). Turning vision into value: corporate finance for non-financial executives. Pretoria: Van Schaik, ISBN: 9780627026454.

CHAPTERS​

​​​​Barnard, Helena, Bromfield, T., & Cantwell J.A. (2009). Local effort and global connections: the co-evolution of firm capabilities and international linkages under inward-looking national policies. In B-A. Lundvall, K.J. Joseph, C. Chaminade & J. Vang, Handbook of Innovation Systems and Developing Countries. Building Domestic Capabilities in a Global Context. Cheltenham: Edward Elgar.
Barnard, H., & Bromfield, T. (2009). The Development and Management of an Intellectual Property Strategy in a Developing Country Context: The Case of Sasol. In D. Kaplan (Ed.), The Economics of Intellectual Property in South Africa. WIPO.

Barnard, H., & Cantwell, J. (2008). Do firms from emerging markets have to invest abroad? outward FDI and the competitiveness of firms. In, Sauvant (Ed.) The rise of TNCs from emerging markets: threat or opportunity. Edward Elgar.

Chipp, Kerry, Hoenig, S., Nel, D. (2006). What industrializing countries can do to avoid needing marketing reform. In J. Sheth (Ed.), Does Marketing Need Reform?

Cook, Jonathan & Nkomo, S.(c2006). Chapter 4: Leadership in Africa. In Managing business in Africa. Oxford University Press.

Davies, Martyn (2011). How China is influencing Africa's development. In M. Jing & B. Barton (Eds.) China and the European Union in Africa partners or competitors. Surrey: Ashgate.

Fisher, Greg (2009). Personality, uncertainty and logic: impact on entrepreneurial outcomes. In P. Davidsson (Ed.) Academy of Management Best Paper Proceedings. Chicago, Illinois.

Goldman, Michael and McCoy, S. (2009). Branding and positioning. In P. Venter & M. Janse van Rensburg, Strategic Marketing. Oxford University Press Southern Africa.

Kleyn, Nicola & Clark, D. (2011). Why do they leave? Voluntary turnover of South African women executives. In H. Wernhane & M. Painter-Moreland (Eds.) Leadership, Gender and Organisation. Springer.

Kleyn, N., & Goldman, M. (2008). The art of sponsorship. In R. Steyn (Ed.), Sponsorship South Africa: An investor's guide. Johannesburg: Wag the Dog Publishers.

White, Lyal (2010). New membership in the EAC: Rwanda’s key to economic survival. In R. Ajule (Ed.) A Region in Transition: Towards a New Integration Agenda in East Africa. IGD.

Wocke, Albert & Bendixen, M. (2008). Building flexibility into multi-national human resource strategy: a study of four South African multi-national enterprises. In, Rowley & Warner (Eds.) Globalising international resources. Routledge/Taylor and Francis.

CONFERENCE PROCEEDINGS

Barnard, Helena & Bandyopadhyay, I. (2011, August). Innovation in a mature versus emerging industry in a country with underdeveloped institutions. Paper presenedt at the Academy of Management, San Antonio.

Barnard, H., & Levin, D. (2011, August). Connections to Distant Knowledge: Expatriate Ties and the Developing World. Paper presented at the Academy of Management, San Antonio.

Barnard, H., & Ansell, G (2011, June). Working small, acting big: sources of, and strategies for innovation in the South African music industry. Paper presented at the International Conference on Arts, Society and Sustainable Development, Tshwane University of Technology, Pretoria.

Barnard, H., & Ishmail, T. (2009, September). Ranking M&A attractiveness in the developing world. Paper presented at Globelics, Dakar.

Barnard, H. (2009, August). Isomorphic pressures and demonstration effects: Conformity and upgrading in international business (with Poisson). Paper presented at the Academy of Management, Chicago.

Barnard, H. (2009, July). How firm capabilities change the effect of realized locational resources. Paper presented at the Academy of International Business Conference, San Diego.

Barnard, H. (2007). Film as a mechanism for industrial upgrading by developing countries. Proceedings of the 19th annual conference for the Southern Africa Institute for Management Scientists, University of Johannesburg.

Chipp, Kerry, Mkhwanazi, P. & Kapelianis, D. (2012). Ukukhothana: The curious case of conspicuous consumption and destruction in an emerging economy. Paper presented at the Academy of Marketing Science, World Marketing Congress - Cultural Perspectives in Marketing, Atlanta, GA.

Chipp, K., Corder, C., Kapelianis, P. & Vasanjee, K. (2012). Managerial beliefs regarding banking activity at the bottom of the pyramid in an emerging economy. Paper presented at the Academy of Marketing Science, World Marketing Congress - Cultural Perspectives in Marketing, Atlanta, GA

Chipp, K., Liston, R., & Kleyn, N. (2011). How is green seen? Exploring the impact of visual elements in "green" advertising. 7th Global Brand Conference 2011: Academy of Marketing, Brand identity and Reputation. Oxford: Said Business School, Oxford University.

Chipp, K., & Corder, C. (2011). Practitioner definitions for BoP: Development of a short list. Paper presented at the Indian Institute of Management, Ahmedabad, India.

Chipp, K., & Verran, G. (2011, May). The application of value co-creation in advancing solutions to sustainable consumption. Paper presented at the 40th Anniversary Conference of the Academy of Marketing Science, Florida.

Chipp, K., & Naidoo, D. (2011, May). Exploring the impact of message framing on sustainable consumption choices. Paper presented at the 40th Anniversary Conference of the Academy of Marketing Science, Florida.

Chipp, K. & Corder, C. (2009). Where practice meets theory: Defining and reviewing the bottom of the pyramid for South African marketers. Paper presented at the GIBS First International BOP Conference, Johannesburg.

Chipp, K., Goldman, M. & Kleyn, N. (2006, October). What they really think: Resolving methodological issues in supply chain ethics research. Paper presented at the First International Management Conference, Johannesburg.

Chipp, K. & Moore, R. (2005, August). The development and exploratory test of an m-commerce model. Paper presented at the Academy of Business Administration Conference, Prague.

Chipp, K. & Moore, R. (2005, July). Connecting with global users: The development of an m-commerce model. Paper presented at the Global Business and Technology Association Conference, Lisbon.

Chipp, K. & Patel, R. (2004, July). Africa calling: South African adoption of m-commerce. Paper presented at the Global Business and Technology Association Conference, Cape Town

Chipp, K. & Hermida, M. C. (2003, August). An adoption of the flow construct to self service technologies: an exploratory study. Paper presented at the Frontiers in Service Conference, Washington DC.

Chipp, K. & Morton-McKay, T. (2002, September). The potential contribution of social marketing for water conservation in the developing world. Paper presented at the 2nd Annual Non-Profit, Social and Arts Marketing Colloquium, London.

Chipp, K. & Morton-McKay, T. (2002). A baseline for de-marketing water in the developing world. Paper presented at the Institute of Marketing Management Conference, Johannesburg.

Liu, D., Kwan, K., & Fisher, Greg (2009). Does an entrepreneur's personality matter? a multilevel, multiphase investigation of core-self evaluations in the growth of top management team potency and new venture performance. Paper presented at the Southern Management Association Meeting. Asheville, North Carolina.

Fisher, G. (2009). Personality, uncertainty and logic: impact on entrepreneurial outcomes. Proceedings of the 69th annual meeting of the Academy of Management held on 7-11 August in Chicago, Illinois.

Fisher, G. (2008). Means versus goals: how uncertainty drives effectuation and causation in the new venture creation process. Paper presented at the Society of Entrepreneurship Scholars meeting. Salt Lake City, Utah.

Goldman, Michael, Chadwick, S., Funk, D. C., & Wocke, A. (2011, September). A review of the function of sport fan identity in seeking optimal psychological distinctiveness. 19th Conference of the European Association of Sport Management. Madrid.

Goldman, M. (2008). Sports branding repositioning in a transitional political economy. Proceedings of the 6th annual Sport Marketing Association conference held in July 2008 at the Gold Coast, Australia.

Goldman, M., & Seyama, W. (2007). Success factors for brand extensions in fast moving consumer goods. Proceedings of the 19th annual conference for the Southern Africa Institute for Management Scientists, University of Johannesburg.

Kleyn, Nicola, Reddiar, C., & Abratt, R. (2011). Building corporate reputation: A director’s perspective. 8th Global Brand Conference 2011: Academy of Marketing Brand, Identity and Reputation. Said Business School, Oxford University.

Kleyn, N., Reddiar, C., & Abratt, R. (2011, September). Building and Managing Corporate reputation: A Framework to Guide Directors. 14th ICIG Symposium, 14 – 16 September 2011. School of Communication: Segovia, Spain

Rozyn, Shaun (2009, September). Understanding the determinants of cash holdings of corporate South Africa and the implications for monetary policy. Paper presented at the Economic Society of South Africa conference, Post Elizabeth.

Wocke, Albert, Hughes, & Klein, s. (2011, July). Evolutionary Development of MNCs from Emerging Markets. Paper presented at the Academy of International Business, Nagoya.

Wocke, A., & van der Merwe, M. (2006). An investigation into responsible tourism practices in the South African hotel industry. Conference paper presented to the Royal Geographic Society Annual Conference.

This paper sheds light on the reasons for the limited uptake of responsible tourism initiative memberships by hotels in South Africa, despite South Africa being regarded as a leader in the field of responsible tourism policy, with the drafting of responsible tourism guidelines by the South African Department of Environmental Affairs and Tourism (DEAT). The International Centre for Responsible Tourism’s conference (hosted in South Africa) preceding the World Summit on Sustainable Development in 2002 resulted in the Cape Town Declaration, which was based on the guidelines developed by DEAT. There are currently two responsible tourism membership initiatives in South Africa. Non-experimental survey research was conducted among hotels about their understanding and implementation of responsible tourism practices. Sixty hotels responded to the survey, and it would appear that these hotels implement CSR/responsible tourism, though to varying extents. Responding hotels do not participate in responsible tourism initiatives because of - amongst others - confusion about what the concept means, and a lack of awareness of such initiatives. This paper raises questions about the effectiveness of membership initiatives in promoting the implementation of responsible tourism practices. It further questions the importance of a common understanding and awareness of what responsible tourism entail in ensuring that policy is implemented.

 

Prof Roger Martin Long.pdf

​ ​​
Sign In

We are processing your request, please be patient.