Pub Date : 2021-02-19DOI: 10.4102/SAJEMS.V24I1.3435
Celsa Machado, António F.M.G. Saraiva, Paulo Vieira
An extensive literature has examined the impact of financial development on economic growth.1 A significant branch found empirical evidence of a positive relationship between financial development and economic growth, suggesting ‘more finance, more growth’ (e.g. Beck, Levine & Loayza 2000; King & Levine 1993a, 1993b; Levine, Loayza & Beck 2000). Indeed, most arguments rely on the fact that a more developed financial system reduces information, transaction and monitoring costs while improving the allocation of capital and risk-taking across the economy. These gains exert positive effects on economic growth by increasing investment and its quality, through affecting its composition and encouraging innovation.
{"title":"Finance-growth nexus in sub-Saharan Africa","authors":"Celsa Machado, António F.M.G. Saraiva, Paulo Vieira","doi":"10.4102/SAJEMS.V24I1.3435","DOIUrl":"https://doi.org/10.4102/SAJEMS.V24I1.3435","url":null,"abstract":"An extensive literature has examined the impact of financial development on economic growth.1 A significant branch found empirical evidence of a positive relationship between financial development and economic growth, suggesting ‘more finance, more growth’ (e.g. Beck, Levine & Loayza 2000; King & Levine 1993a, 1993b; Levine, Loayza & Beck 2000). Indeed, most arguments rely on the fact that a more developed financial system reduces information, transaction and monitoring costs while improving the allocation of capital and risk-taking across the economy. These gains exert positive effects on economic growth by increasing investment and its quality, through affecting its composition and encouraging innovation.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"139 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75647939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-28DOI: 10.4102/SAJEMS.V24I1.3717
Erisher Woyo, E. Slabbert
{"title":"Tourism destination competitiveness: A view from suppliers operating in a country with political challenges","authors":"Erisher Woyo, E. Slabbert","doi":"10.4102/SAJEMS.V24I1.3717","DOIUrl":"https://doi.org/10.4102/SAJEMS.V24I1.3717","url":null,"abstract":"","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"76 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74805858","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-27DOI: 10.4102/SAJEMS.V24I1.3581
L. V. D. Vaart
Employee performance – ‘behaviours and actions that support organisational goals’ (Campbell 1990:67) – matters for both individuals and organisations. High-performing individuals are rewarded with bonuses and advancement opportunities, whereas organisations gain a competitive advantage and higher financial returns (Yeshitila & Beyene 2019). Information technology (IT) professionals are particularly under pressure to perform because of the expectations resulting from the digitisation and automation of work (i.e. fourth industrial revolution) (Van Zyl et al. 2019). Consequently, organisations are interested in ways to improve their (IT) employees’ performance and often rely on the results of empirical investigations to make decisions relating to performance improvement (Koopmans et al. 2011, 2015). Reliable and valid research results are needed for organisational decision-making and can mainly be ensured through the use of psychometrically sound measuring instruments in investigations (see Ramos-Villagrasa et al. 2019).
员工绩效——“支持组织目标的行为和行动”(Campbell 1990:67)——对个人和组织都很重要。表现优异的个人可以获得奖金和晋升机会，而组织则可以获得竞争优势和更高的财务回报(Yeshitila & Beyene 2019)。由于工作的数字化和自动化(即第四次工业革命)带来的期望，信息技术(IT)专业人员尤其面临着工作压力(Van Zyl et al. 2019)。因此，组织对提高其(IT)员工绩效的方法感兴趣，并且经常依靠实证调查的结果来做出与绩效改进有关的决策(Koopmans等人，2011,2015)。组织决策需要可靠和有效的研究结果，主要可以通过在调查中使用心理测量学上健全的测量工具来确保(见Ramos-Villagrasa et al. 2019)。
{"title":"The performance measurement conundrum: Construct validity of the Individual Work Performance Questionnaire in South Africa","authors":"L. V. D. Vaart","doi":"10.4102/SAJEMS.V24I1.3581","DOIUrl":"https://doi.org/10.4102/SAJEMS.V24I1.3581","url":null,"abstract":"Employee performance – ‘behaviours and actions that support organisational goals’ (Campbell 1990:67) – matters for both individuals and organisations. High-performing individuals are rewarded with bonuses and advancement opportunities, whereas organisations gain a competitive advantage and higher financial returns (Yeshitila & Beyene 2019). Information technology (IT) professionals are particularly under pressure to perform because of the expectations resulting from the digitisation and automation of work (i.e. fourth industrial revolution) (Van Zyl et al. 2019). Consequently, organisations are interested in ways to improve their (IT) employees’ performance and often rely on the results of empirical investigations to make decisions relating to performance improvement (Koopmans et al. 2011, 2015). Reliable and valid research results are needed for organisational decision-making and can mainly be ensured through the use of psychometrically sound measuring instruments in investigations (see Ramos-Villagrasa et al. 2019).","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"758 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78806072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-26DOI: 10.4102/SAJEMS.V24I1.3553
R. D. Zondo
It has been established that some of the key business strategies that aim at maintaining competitiveness include rebranding to fit the required international standards, increased innovation through research and development, as well as re-profiling operations to respond to the changes in business environment (Bonini & Görner 2011). An effective safety management system (SMS) is one of the strategies for meeting international standards (Phusavat et al. 2017). With increasing complexity in the industrial sector, the increase in accidents and the speed with which techniques evolve in large companies, risk management becomes a decisive and strategic response to safeguard workers’ health and safety (H&S) (Dodge 2012). Every year, thousands of people across businesses are the victims of workplace accidents or develop serious health problems in the workplace. In Kuwait, more than 51 500 work-related accidents are recorded each year, causing a social safety bill of more than 29 billion dinars (or US$94.83 billion) in 2016, against 20 billion dinars (or US$65 billion) for 2014 (Amine & Antar 2017). These expenditures reveal considerable gaps in occupational health and safety (OHS) that an industrialised country cannot afford.
{"title":"Assessing the effectiveness of an occupational health and safety system in a selected automotive assembly organisation in South Africa","authors":"R. D. Zondo","doi":"10.4102/SAJEMS.V24I1.3553","DOIUrl":"https://doi.org/10.4102/SAJEMS.V24I1.3553","url":null,"abstract":"It has been established that some of the key business strategies that aim at maintaining competitiveness include rebranding to fit the required international standards, increased innovation through research and development, as well as re-profiling operations to respond to the changes in business environment (Bonini & Görner 2011). An effective safety management system (SMS) is one of the strategies for meeting international standards (Phusavat et al. 2017). With increasing complexity in the industrial sector, the increase in accidents and the speed with which techniques evolve in large companies, risk management becomes a decisive and strategic response to safeguard workers’ health and safety (H&S) (Dodge 2012). Every year, thousands of people across businesses are the victims of workplace accidents or develop serious health problems in the workplace. In Kuwait, more than 51 500 work-related accidents are recorded each year, causing a social safety bill of more than 29 billion dinars (or US$94.83 billion) in 2016, against 20 billion dinars (or US$65 billion) for 2014 (Amine & Antar 2017). These expenditures reveal considerable gaps in occupational health and safety (OHS) that an industrialised country cannot afford.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"37 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80889601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-21DOI: 10.4102/SAJEMS.V24I1.3652
Jan A. Dreyer, S. Viviers, Nadia Mans-Kemp
A new era dawned in South Africa in 1994 as the apartheid regime was replaced by a democratic one and freedom for all citizens seemed possible at last. Amidst the changing political landscape, the late president Nelson Mandela pleaded for reconciliation among all racial groups. He stated that physical freedom was not sufficient, and that economic freedom had to be cultivated (Ponte, Roberts & Van Sittert 2007; Tangri & Southall 2008). A staggering 80% of black business owners felt that their foundation was weak at the end of apartheid, and that they could not compete fairly with white individuals (Masito 2007). One suggestion to level the playing field was to introduce legislation to promote Black Economic Empowerment (Acemoglu, Gelb & Robinson 2007; Jeffrey 2014).
1994年，随着种族隔离政权被民主政权所取代，南非迎来了一个新时代，所有公民的自由似乎终于成为可能。在不断变化的政治格局中，已故总统纳尔逊·曼德拉(Nelson Mandela)呼吁所有种族群体和解。他指出，身体自由是不够的，必须培养经济自由(Ponte, Roberts & Van Sittert 2007;Tangri & Southall 2008)。令人震惊的是，80%的黑人企业主认为，在种族隔离结束时，他们的基础很薄弱，他们无法与白人公平竞争(Masito 2007)。公平竞争环境的一个建议是引入立法来促进黑人经济赋权(Acemoglu, Gelb & Robinson 2007;杰弗里·2014)。
{"title":"Broad-Based Black Economic Empowerment and corporate financial health","authors":"Jan A. Dreyer, S. Viviers, Nadia Mans-Kemp","doi":"10.4102/SAJEMS.V24I1.3652","DOIUrl":"https://doi.org/10.4102/SAJEMS.V24I1.3652","url":null,"abstract":"A new era dawned in South Africa in 1994 as the apartheid regime was replaced by a democratic one and freedom for all citizens seemed possible at last. Amidst the changing political landscape, the late president Nelson Mandela pleaded for reconciliation among all racial groups. He stated that physical freedom was not sufficient, and that economic freedom had to be cultivated (Ponte, Roberts & Van Sittert 2007; Tangri & Southall 2008). A staggering 80% of black business owners felt that their foundation was weak at the end of apartheid, and that they could not compete fairly with white individuals (Masito 2007). One suggestion to level the playing field was to introduce legislation to promote Black Economic Empowerment (Acemoglu, Gelb & Robinson 2007; Jeffrey 2014).","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"18 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78391079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-11DOI: 10.4102/sajems.v24i1.3346
Frank Sampong,Na Song,Gilbert K. Amoako,Kingsley O. Boahene
Background: There is growing literature promoting corporate governance mechanisms as important elements that could mitigate the inconclusive findings within the corporate social performance and firm profitability research. A key theoretical assumption within the extant literature that provides support for this proposition is that corporate social performance and firm profitability are organisational outcomes in the presence of good corporate governance.Aim: Firstly, the aim is to re-investigate voluntary social performance disclosure (SPD) and long-term profitability association from the perspective of international standards, using the Global Reporting Initiative G3.1 guidelines. Secondly, to examine the joint moderating effect of board independence and managerial ownership (MO) on the voluntary SPD and profitability nexus.Setting: The South Africa institutional setting, where recent corporate governance regimes require firms to voluntarily make corporate governance related disclosures on both shareholder-and stakeholder-related information is used as the study context.Method: Utilising manually extracted data of listed firms, over the period 2010 to 2015, the generalised least square regression and seemingly unrelated regression (with a 1-year lag as the main independent variable) are used to examine the stated hypotheses.Results: We found a positive association between voluntary SPD and long-term profitability. We also found that the presence of non-executive directors positively moderates the association between voluntary SPD and long-term profitability. Thirdly, the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability. Lastly, the complementary role of the presence of non-executive directors and the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability.Conclusion: This study finds support for scholarly theoretical arguments that organisational outcomes are largely possible in the presence of good corporate governance, which has a long-term implication for firms’ shareholder wealth maximisation. This study contributes to the ongoing research examining the notion of substitutive versus complementary effects of governance mechanisms, and a growing research literature on corporate social responsibility (CSR) disclosure from the perspective of international standardisation. This study therefore makes far-reaching contributions to the corporate governance and social responsibility literature in an African context.
{"title":"Voluntary social performance disclosure and firm profitability of South African listed firms: Examining the complementary role of board independence and managerial ownership","authors":"Frank Sampong,Na Song,Gilbert K. Amoako,Kingsley O. Boahene","doi":"10.4102/sajems.v24i1.3346","DOIUrl":"https://doi.org/10.4102/sajems.v24i1.3346","url":null,"abstract":"Background: There is growing literature promoting corporate governance mechanisms as important elements that could mitigate the inconclusive findings within the corporate social performance and firm profitability research. A key theoretical assumption within the extant literature that provides support for this proposition is that corporate social performance and firm profitability are organisational outcomes in the presence of good corporate governance.Aim: Firstly, the aim is to re-investigate voluntary social performance disclosure (SPD) and long-term profitability association from the perspective of international standards, using the Global Reporting Initiative G3.1 guidelines. Secondly, to examine the joint moderating effect of board independence and managerial ownership (MO) on the voluntary SPD and profitability nexus.Setting: The South Africa institutional setting, where recent corporate governance regimes require firms to voluntarily make corporate governance related disclosures on both shareholder-and stakeholder-related information is used as the study context.Method: Utilising manually extracted data of listed firms, over the period 2010 to 2015, the generalised least square regression and seemingly unrelated regression (with a 1-year lag as the main independent variable) are used to examine the stated hypotheses.Results: We found a positive association between voluntary SPD and long-term profitability. We also found that the presence of non-executive directors positively moderates the association between voluntary SPD and long-term profitability. Thirdly, the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability. Lastly, the complementary role of the presence of non-executive directors and the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability.Conclusion: This study finds support for scholarly theoretical arguments that organisational outcomes are largely possible in the presence of good corporate governance, which has a long-term implication for firms’ shareholder wealth maximisation. This study contributes to the ongoing research examining the notion of substitutive versus complementary effects of governance mechanisms, and a growing research literature on corporate social responsibility (CSR) disclosure from the perspective of international standardisation. This study therefore makes far-reaching contributions to the corporate governance and social responsibility literature in an African context.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"46 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-23DOI: 10.4102/sajems.v23i1.3991
Editorial Office
No abstract available.
没有摘要。
{"title":"Table of Contents Vol 23, No 1 (2020)","authors":"Editorial Office","doi":"10.4102/sajems.v23i1.3991","DOIUrl":"https://doi.org/10.4102/sajems.v23i1.3991","url":null,"abstract":"No abstract available.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"4 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2020-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519719","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-21DOI: 10.4102/sajems.v23i1.3496
B. A. Asunka, Zhiqiang Ma, Mingxing Li, O. A. Anaba, N. Amowine, Weijun Hu
Indigenous innovation, which involves innovation by the domestic firms of a country, is continually advocated as a main driver of the economic growth of developing economies. This phenomenon promotes technological innovation which is identified as a key component of industrialisation (Intarakumnerd & Goto 2018; Rodrigues & Da Costa 2018). Industrialisation driven by indigenous innovation is a major determinant of sustainable economic growth in developing countries. Studies on the effect of foreign direct investments (FDI) on innovation were pioneered by Caves (1974), and since then several scholars have reported that FDI facilitates innovation in developing countries (Awate, Larsen & Mudambi 2015; Howell 2019; Maurer 2017; Background: The contributions of indigenous innovation and foreign direct investments (FDI) inflows are critical elements of economic growth and hence very important for developing economies. FDI inflows have been recognised as having a direct influence on innovation in host countries. The relationship between these two variables is explored and well documented in literature. However, these studies have focused on linear relationships between FDI and indigenous innovation, ignoring a possible asymmetric relationship between them.
自主创新是指一个国家的国内企业进行创新，它一直被认为是发展中经济体经济增长的主要动力。这种现象促进了技术创新，而技术创新被认为是工业化的关键组成部分(Intarakumnerd & Goto 2018;Rodrigues & Da Costa 2018)。自主创新驱动的工业化是发展中国家可持续经济增长的主要决定因素。关于外国直接投资(FDI)对创新的影响的研究是由Caves(1974)首创的，此后几位学者报道FDI促进了发展中国家的创新(Awate, Larsen & Mudambi 2015;豪厄尔2019;毛雷尔2017;背景:本土创新和外国直接投资(FDI)流入的贡献是经济增长的关键因素，因此对发展中经济体非常重要。外国直接投资流入被认为对东道国的创新有直接影响。这两个变量之间的关系在文献中得到了充分的探讨和记录。然而，这些研究主要关注FDI与自主创新之间的线性关系，而忽略了两者之间可能存在的不对称关系。
{"title":"Assessing the asymmetric linkages between foreign direct investments and indigenous innovation in developing countries: A non-linear panel auto-regressive distributed lag approach","authors":"B. A. Asunka, Zhiqiang Ma, Mingxing Li, O. A. Anaba, N. Amowine, Weijun Hu","doi":"10.4102/sajems.v23i1.3496","DOIUrl":"https://doi.org/10.4102/sajems.v23i1.3496","url":null,"abstract":"Indigenous innovation, which involves innovation by the domestic firms of a country, is continually advocated as a main driver of the economic growth of developing economies. This phenomenon promotes technological innovation which is identified as a key component of industrialisation (Intarakumnerd & Goto 2018; Rodrigues & Da Costa 2018). Industrialisation driven by indigenous innovation is a major determinant of sustainable economic growth in developing countries. Studies on the effect of foreign direct investments (FDI) on innovation were pioneered by Caves (1974), and since then several scholars have reported that FDI facilitates innovation in developing countries (Awate, Larsen & Mudambi 2015; Howell 2019; Maurer 2017; Background: The contributions of indigenous innovation and foreign direct investments (FDI) inflows are critical elements of economic growth and hence very important for developing economies. FDI inflows have been recognised as having a direct influence on innovation in host countries. The relationship between these two variables is explored and well documented in literature. However, these studies have focused on linear relationships between FDI and indigenous innovation, ignoring a possible asymmetric relationship between them.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"39 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87509364","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-17DOI: 10.4102/sajems.v23i1.3346
Frank Sampong, Na Song, Gilbert K. Amoako, Kingsley O. Boahene
Background: There is growing literature promoting corporate governance mechanisms as important elements that could mitigate the inconclusive findings within the corporate social performance and firm profitability research. A key theoretical assumption within the extant literature that provides support for this proposition is that corporate social performance and firm profitability are organisational outcomes in the presence of good corporate governance.Aim: Firstly, the aim is to re-investigate voluntary social performance disclosure (SPD) and long-term profitability association from the perspective of international standards, using the Global Reporting Initiative G3.1 guidelines. Secondly, to examine the joint moderating effect of board independence and managerial ownership (MO) on the voluntary SPD and profitability nexus.Setting: The South Africa institutional setting, where recent corporate governance regimes require firms to voluntarily make corporate governance related disclosures on both shareholder-and stakeholder-related information is used as the study context.Method: Utilising manually extracted data of listed firms, over the period 2010 to 2015, the generalised least square regression and seemingly unrelated regression (with a 1-year lag as the main independent variable) are used to examine the stated hypotheses.Results: We found a positive association between voluntary SPD and long-term profitability. We also found that the presence of non-executive directors positively moderates the association between voluntary SPD and long-term profitability. Thirdly, the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability. Lastly, the complementary role of the presence of non-executive directors and the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability.Conclusion: This study finds support for scholarly theoretical arguments that organisational outcomes are largely possible in the presence of good corporate governance, which has a long-term implication for firms’ shareholder wealth maximisation. This study contributes to the ongoing research examining the notion of substitutive versus complementary effects of governance mechanisms, and a growing research literature on corporate social responsibility (CSR) disclosure from the perspective of international standardisation. This study therefore makes far-reaching contributions to the corporate governance and social responsibility literature in an African context.
{"title":"Voluntary social performance disclosure and firm profitability of South African listed firms: Examining the complementary role of board independence and managerial ownership","authors":"Frank Sampong, Na Song, Gilbert K. Amoako, Kingsley O. Boahene","doi":"10.4102/sajems.v23i1.3346","DOIUrl":"https://doi.org/10.4102/sajems.v23i1.3346","url":null,"abstract":"Background: There is growing literature promoting corporate governance mechanisms as important elements that could mitigate the inconclusive findings within the corporate social performance and firm profitability research. A key theoretical assumption within the extant literature that provides support for this proposition is that corporate social performance and firm profitability are organisational outcomes in the presence of good corporate governance.Aim: Firstly, the aim is to re-investigate voluntary social performance disclosure (SPD) and long-term profitability association from the perspective of international standards, using the Global Reporting Initiative G3.1 guidelines. Secondly, to examine the joint moderating effect of board independence and managerial ownership (MO) on the voluntary SPD and profitability nexus.Setting: The South Africa institutional setting, where recent corporate governance regimes require firms to voluntarily make corporate governance related disclosures on both shareholder-and stakeholder-related information is used as the study context.Method: Utilising manually extracted data of listed firms, over the period 2010 to 2015, the generalised least square regression and seemingly unrelated regression (with a 1-year lag as the main independent variable) are used to examine the stated hypotheses.Results: We found a positive association between voluntary SPD and long-term profitability. We also found that the presence of non-executive directors positively moderates the association between voluntary SPD and long-term profitability. Thirdly, the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability. Lastly, the complementary role of the presence of non-executive directors and the proportion of MO significantly positively moderates the association between voluntary SPD and long-term profitability.Conclusion: This study finds support for scholarly theoretical arguments that organisational outcomes are largely possible in the presence of good corporate governance, which has a long-term implication for firms’ shareholder wealth maximisation. This study contributes to the ongoing research examining the notion of substitutive versus complementary effects of governance mechanisms, and a growing research literature on corporate social responsibility (CSR) disclosure from the perspective of international standardisation. This study therefore makes far-reaching contributions to the corporate governance and social responsibility literature in an African context.","PeriodicalId":46244,"journal":{"name":"South African Journal of Economic and Management Sciences","volume":"2 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2020-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87299032","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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