scholarly journals Assessing a Company s Tone at the Top: Evidence from South African Auditing Firms

2022 ◽  
Vol 8 (1) ◽  
pp. 1-37
Author(s):  
Faeeza Jaffer ◽  
Elza Odendaal ◽  
Hans Theron
Keyword(s):  
South African ◽  
Tone At The Top ◽  
A Company

scholarly journals Strategic positioning of EAP in South African workplaces

2003 ◽  
Vol 3 (1) ◽  
Author(s):  
M. G. Matlhape
Keyword(s):  
South Africa ◽  
South African ◽  
Business Strategy ◽  
Employee Satisfaction ◽  
Business Processes ◽  
Chain Model ◽  
Employee Assistance ◽  
Strategic Positioning ◽  
And Performance ◽  
A Company

Two phenomena are having a profound effect on management and industry in the 21st century. The first one is the increasing rate and depth of competition locally, regionally, and globally, and the consequent increase in focus on achieving competitiveness by companies. The second phenomenon is the increasing appreciation of the importance of employees in assisting the company to gain a competitive advantage over its competitors. Employee Assistance Programmes have been used as part of the business strategy to enhance employee functioning, loyalty, and performance in organisations around the world for a good part of the 20th century. In South Africa this service did not gain much momentum until the 1980. Despite the growth of EAP in South Africa, however, in most cases it still remains on the periphery of real business activities and is often regarded as a "nice to have" rather than as a business imperative. The location of EAP within a company is very important in determining its impact within the organisation. Because of EAPs capacity to impact on both individual employees and the organisation as its primary client, it has potential to make a great impact in organisations' business processes, where these interface with individual output and wellbeing. A service-profit-chain model was introduced as a link between employee satisfaction and company profitability. This article gives an in-depth focus on EAP and the important role it can play in achieving employee satisfaction.

scholarly journals “DUPED” SHAREHOLDERS MAY APPLY FOR WINDING-UP ORDER – SECTION 81(1)(e) OF THE COMPANIES ACT 71 OF 2008 Pinfold v Edge to Edge Global Investments Ltd 2014 (1) SA 206 KZD

Obiter ◽  
2014 ◽  
Author(s):  
Darren Subramanien
Keyword(s):  
South African ◽  
The South ◽  
High Court ◽  
First Case ◽  
Public Company ◽  
Kwazulu Natal ◽  
A Company

In what is the first case of its kind that to have come before the South African courts the shareholders in Pinfold v Edge to Edge Global Investments Ltd (2014 (1) SA 206 KZD) were granted permission by the KwaZulu Natal High Court (Durban) to wind up Edge to Edge Global Investments, a public company on allegations of fraud committed by the directors of the company. The application was brought before the court in terms of section 81(1)(e) of the Companies Act 71 of 2008. The decision is significant as it provides insight as to what the courts would consider to be fraudulent, illegal and a misuse or waste of the company's assets by the directors of a company, and what the shareholders of a company need to prove in order to be successful in an application based on section 81(1)(e) of the Act.

scholarly journals Corporate social investment and a company’s image: A case of a CSI initiative in a South African low income community

2015 ◽  
Vol 11 (3) ◽  
pp. 130-135
Author(s):  
Paul-Francois Muzindutsi ◽  
Tshediso Joseph Sekhampu
Keyword(s):  
South Africa ◽  
South African ◽  
Low Income ◽  
Quantitative Research ◽  
Social Investment ◽  
Structured Interviews ◽  
Community Members ◽  
Corporate Social ◽  
A Company ◽  
Corporate Social Investment

One of the goals of corporate social investment (CSI) is to ensure that a company becomes a responsible entity which acts as a conscientious citizen within a society. CSI plays an important role in enhancing how a company is perceived within the community it operates in. This paper used a combination of qualitative and quantitative research designs to investigate the effect of a specific CSI initiative on a company’s image within a low income community in South Africa. Semi-structured interviews and survey questionnaire were used to collect data from community members in the township of Bophelong, South Africa. Results show that, if adequately managed, CSI initiatives tend to enhance company’s image as well as its relations with the community it operates in. However, if not adequately managed CSI can created unreachable expectations that can negatively affect a company’s image. Thus, companies better manage their CSI initiatives have an increased opportunity to enhance their reputation within the community they operate in.

Protection of shareholders class rights in company law

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anthony Nwafor
Keyword(s):  
South African ◽  
Case Law ◽  
Company Law ◽  
The South ◽  
Content Type ◽  
The Law ◽  
The Uk ◽  
Class Rights ◽  
A Company ◽  
Business Challenges

Purpose A company that is registered with share capital may issue different classes of shares and may confer rights on members, which place them in different classes in the company’s organisational structure. This paper is concerned with the propensity for encroachment on such vested class rights as companies strive to wriggle out of business challenges spawn by the COVID-19 pandemic. The purpose of this study is to ascertain the extent of protection that the law accords to the different classes of shareholders and members in a company especially when the company seeks to vary the vested class rights. Design/methodology/approach A doctrinal methodology, which relies on existing literature, case law and statutory instruments, is adopted to explore the nature of class rights and the adequacies of the remedial measures availed by statute to the aggrieved bearers of class rights in the context of the South African Companies Act 71 of 2008 with inferences drawn from the UK companies statute and case law. Findings The findings indicate that accessing the remedies available to aggrieved shareholders under the relevant statutory provisions are fraught with conditionality, which could make them elusive to those who may seek to rely on such provisions to vindicate any encroachment on their class rights. Practical implications The paper embodies cogent information on the interpretation and application of the relevant statutory provisions geared at the protection of shareholders class rights, which should serve as guides to companies and the courts in dealing with matters that affect the vested class rights of shareholders and members of a company. Originality/value The paper shows that protections offered to classes of shareholders under the law can also be extended to classes of members who are not necessarily shareholders, and that shareholders who seek to vindicate their class rights may conveniently rely on Section 163 that provides for unfair prejudice remedy to avoid the onerous conditions under Section 164 of the South African Companies Act 71 of 2008, which directly deals with class rights.

scholarly journals Mapping a transformation from a traditional to an entrepreneurial organisation: A South African case

2009 ◽  
Vol 7 (1) ◽  
Author(s):  
Septimus Serfontein ◽  
Johan S. Basson ◽  
Johann Burden
Keyword(s):  
South African ◽  
High Performance ◽  
Transformational Change ◽  
Corporate Environment ◽  
Study Approach ◽  
Multiple Data ◽  
Qualitative Research Methodology ◽  
Practical Guidelines ◽  
Internal And External Factors ◽  
A Company

This study conceptualises the transformation of a company within a corporate environment after facing a crisis precipitated by several internal and external factors. A modernist qualitative research methodology was followed in order to understand transformational change as a phenomenon and to establish a set of principles practitioners can apply. Multiple data sources were used and the case study approach was applied to capture and interpret the emergent principles of the change process during the transformation. Grounded theory was used in the analysis of data. The result was a high-performance company that meets the criteria of an entrepreneurial unit in a corporate environment. The study provides practical guidelines for the transformation of a company and the implementation of factors such as strategy, the redesign of structures, organisational culture, leadership and communication.

scholarly journals Making sense of the disclosure of latent defects in financial statements and company acquisition contracts

2011 ◽  
Vol 13 (1) ◽  
pp. 76-84
Author(s):  
Cornelius Killian
Keyword(s):  
South African ◽  
Financial Statements ◽  
The South ◽  
Legal Principles ◽  
Appeal Court ◽  
Making Sense ◽  
Court Judge ◽  
Latent Defects ◽  
Legal Nature ◽  
A Company

This paper analyses the statement made by the South African Appeal Court Judge Holmes in the Phame v Paizes (1973) case and, using economic and unique South African legal principles, it examines the true legal nature of a contract to regulate company acquisitions.1 Two solutions are offered for financial managers in South Africa: (1) the contract to regulate company acquisitions is a forward contract and (2) the difficulty in identifying latent defects should not be grounds for reducing the price paid for a company or enterprise in the South African legal system.

scholarly journals An analysis of capital budgeting methods, the cost of capital and decision-makers in listed South African firms

2012 ◽  
Vol 9 (2) ◽  
pp. 519-529
Author(s):  
John H. Hall
Keyword(s):  
South African ◽  
Net Present Value ◽  
Cost Of Capital ◽  
Capital Budgeting ◽  
Decision Makers ◽  
Internal Rate Of Return ◽  
Present Value ◽  
The Cost ◽  
Academic Qualifications ◽  
A Company

This study’s purpose was to link the length of decision-makers’ employment in a firm and their academic qualifications to their choice of capital budgeting methods and of cost of capital techniques. The results show that the net present value (NPV) is more popular than the internal rate of return (IRR) as a capital budgeting technique. Also, irrespective of how long respondents have been employed by a company, they all use a discount rate. However, there is a significant tendency among respondents with postgraduate qualifications to prefer the NPV as a capital budgeting technique. Thus, in South Africa, academic qualifications do play a role in decision-makers’ capital budgeting practices.

scholarly journals REPRESENTATION OF A COMPANY WHEN CONTRACTING WITH ANOTHER PERSON UNDER SOUTH AFRICAN COMPANY LAW Makate v Vodacom (Pty) Ltd [2016] ZACC 13

Obiter ◽  
2018 ◽  
Vol 39 (2) ◽  
Author(s):  
Vela Madlela ◽  
Palollo Michael Lehloenya
Keyword(s):  
Board Of Directors ◽  
South African ◽  
Company Law ◽  
Third Party ◽  
Constitutional Court ◽  
Legal Nature ◽  
The Board Of Directors ◽  
The Law ◽  
The Impact ◽  
A Company

A company is an artificial person and has no mind, will or hands of its own. It is, therefore, compelled to act through human agents. The board of directors is responsible for the management and direction of the business affairs of the company. Under South African company law the directors’ powers of management are statutorily entrenched (S 66(1) of the Companies Act 71 of 2008). The board of directors may, however, delegate its powers to an individual director (or individual directors), a committee of the board, a managing director or other officers of the company. Before an individual director or officer of the company can conclude a binding transaction on behalf of their company, they must have the authority to do so. In South Africa, the issue of authority to enter into a transaction or agreement on behalf of a company is dealt with using the principles of the law of agency.The crisp issue in this note relates to the circumstances in which an individual company director or officer who, when contracting with another person, purports to be acting on behalf of the company will bind the company. In the recent case of Makate v Vodacom (Pty) Ltd ([2016] ZACC 13 (hereinafter “Makate v Vodacom”)), which involved a claim for reasonable compensation by the inventor of the concept of “Please Call Me” against Vodacom (Pty) Limited (hereinafter “Vodacom”), the Constitutional Court dealt specifically with the authority of a director to conclude a contract with a third party on behalf of the company. This note discusses Makate v Vodacom and the approach of the court regarding when a company will be bound by contracts concluded by its director or another person purporting to represent the company in a transaction with a third party. It examines the main judgment of Jafta J and the concurring judgment of Wallis J in relation to the legal nature of ostensible authority in the absence of actual authority.The note further looks at the issue of prescription, which Vodacom in its defence raised against the claim for compensation brought by Mr Makate. It explores the circumstances in which prescription can be successfully invoked to deflect a contractual claim brought against a company, the impact of the Constitution in this area of the law and whether the claim lodged by Mr Makate amounted to a “debt” for purposes of the Prescription Act (68 of 1969). To this end, again, both the main judgment of Jafta J and the concurring judgment of Wallis J are examined. This is followed by critical insights on the implications of this case and some concluding remarks.

scholarly journals REGULATION OF MERGERS AND ACQUISITIONS IN TERMS OF THE SOUTH AFRICAN COMPANIES ACT 71 OF 2008: AN OVERVIEW

2020 ◽  
Vol 7 (1) ◽  
pp. 91-118
Author(s):  
M. Phakeng
Keyword(s):  
Mergers And Acquisitions ◽  
South African ◽  
Company Law ◽  
The South ◽  
Shareholder Protection ◽  
Different Types ◽  
New Type ◽  
A Company

The Companies Act 71 of 2008 (the 2008 Act) replaced the Companies Act No. 61 of 1973, effective 1 May 2011. The 2008 Act was aimed at keeping pace with developments in company law internationally. It is not intended to entirely replace the well-established principles and has largely retained the pre-existing South African company law. The mergers and acquisitions provisions are aimed at creating transparent, efficient, and simple procedures. Different types of mergers and acquisitions are clearly defined as “affected transactions” or “offers” in section 117. Section 118 provides for companies to which the provisions apply. The reasons for regulating these transactions and powers of the regulator – The Takeover Regulation Panel, have been reviewed, clarified, and improved. The previous section on disposal of all or greater part of assets or undertaking of a company has been re-written. The 2008 Act further introduces a new type of affected transaction in section 113, in the form of a “merger” or an “amalgamation.” The 2008 Act has retained the scheme of arrangement in section 114, but has changed its format by removing compulsory court application and approval. The courts get involved under certain prescribed circumstances. The 2008 Act has enhanced shareholder protection for fundamental transactions in the form of section 164 – Appraisal Rights and section 115, dealing with shareholder approval of fundamental transactions. Some scholars and practitioners have criticised certain provisions. However, in general, the provisions have received favourable commentary. They regarded as progressive and comparable with others internationally.

scholarly journals Die omvang en aard van afwesigheid in die werkplek: ‘n Suid-Afrikaanse gevalstudie

2003 ◽  
Vol 29 (1) ◽  
Author(s):  
Anel Du Plessis ◽  
Deléne Visser ◽  
Linda Fourie
Keyword(s):  
South African ◽  
Direct Costs ◽  
Meat Industry ◽  
One Year ◽  
A Company

The scope and nature of absenteeism in the workplace: A South African case study. The objective of the study was to develop quantitative measures for monitoring trends of absenteeism in a company within the meat industry and to assess qualitatively the possible existence of a collective culture of absenteeism within the organisation. The scope and frequency of absenteeism, costs incurred due to absenteeism, and individual absenteeism patterns of 145 employees, were studied over a period of one year. It was found that 2900 planned and 912 unplanned leave workdays that were lost, resulted in direct costs of R895,054.55. Five employees who were absent most often accounted for 18.60% of the unplanned leave taken. The extraordinary levels of absenteeism found in this case study were ascribed to specific employees. Opsomming Die doel van die studie was om kwantitatiewe metings vir die monitering van afwesigheidstendense vir ‘n maatskappy in die vleisbedryf te ontwikkel en om die moontlike bestaan van ‘n kollektiewe afwesigheidskultuur kwalitatief te ondersoek. Die omvang, frekwensie en koste van afwesigheid, asook individuele afwesigheidspatrone, is bestudeer vir 145 werknemers oor ‘n tydperk van een jaar. Daar is bevind dat 2900 beplande en 912 onbeplande verlofwerkdae wat verloor is, die maatskappy R895,054.55 gekos het. Vyf werknemers wat die meeste afwesig was, was verantwoordelik vir 18,60% van die onbeplande verlof geneem. Die uitsonderlike vlakke van afwesigheid in hierdie gevalstudie is toegeskryf aan spesifieke werknemers.

Sign in / Sign up

Export Citation Format

Share Document