Petri Ferreira and Charl de Villiers
The purpose of this paper is to investigate whether an association exists between a firm's black economic empowerment (BEE) score and its share returns.
Abstract
Purpose
The purpose of this paper is to investigate whether an association exists between a firm's black economic empowerment (BEE) score and its share returns.
Design/methodology/approach
The study uses linear regression that controls for the factors explaining share returns identified by Fama and French. The study includes the Top 200 BEE companies according to the Financial Mail/Empowerdex Top Empowerment Companies survey for 2005‐2008.
Findings
The regression analysis shows a significant, negative association between a firm's BEE score and its share returns.
Research limitations/implications
The results suggest that managers may be over‐investing in activities to improve their firms' BEE scores. This result is surprising. The long‐term effect of BEE investment, the association between the different elements of the BEE score and share returns and the optimal BEE investment level are all fruitful avenues for future research.
Originality/value
One of the elements of the BEE score is the percentage of black ownership of the company. Various studies have found positive market reactions to BEE deal announcements, which relate to the percentage of black ownership of the company. By contrast, this study investigates the relationship between an entity's BEE score, as opposed to a BEE deal announcement, and this entity's market performance. The results would be of interest to government policy analysts, investors and managers.
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The purpose of this paper is to share the successful experience of Lilly Research Laboratories (LRL) in engaging senior leaders in developing the next generation of leaders.
Abstract
Purpose
The purpose of this paper is to share the successful experience of Lilly Research Laboratories (LRL) in engaging senior leaders in developing the next generation of leaders.
Design/methodology/approach
The paper describes the principles and approach used by LRL. It provides a straightforward description of the major leadership development programs with a more detailed description of a course on inspirational leadership. One of the co‐authors, a Vice President of Medical, describes his personal motivation for participating.
Findings
The commitment of a significant amount of time to their development by respected senior leaders is a powerful message and model to participants. The ability to interact in a deeply personal way with senior leaders is highly motivating to participants. The involvement of senior leaders in the design and development of programs gives them a strong interest in later participation. Being identified as an inspirational leader and having the opportunity to influence the next generation are personally rewarding to senior leaders.
Originality/value
LRL is one of too few organizations that have succeeded in gaining a high level of commitment from senior leaders to developing future leaders; their methodology may be valuable to other large and medium‐sized organizations.
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The South African Government announced the black economic empowerment (BEE) legislation in 2003 in the public procurement systems. The legislation was deemed a catalyst for the…
Abstract
Purpose
The South African Government announced the black economic empowerment (BEE) legislation in 2003 in the public procurement systems. The legislation was deemed a catalyst for the emancipation of the previously disadvantaged citizens due to the apartheid government policies that secluded them from economic activities. This study aims to explore the challenges of black construction professionals with the BEE as a procurement policy.
Design/methodology/approach
This study adopted a qualitative research approach. Thirty-five black construction professionals were contacted for interviews, of which 21 responded. Due to the COVID-19 restriction, participants were interviewed using telephone interview techniques. The information received was analysed using the thematic contents analysis method.
Findings
The findings revealed the challenges confronting black construction professionals regarding the BEE policy as corrupt practices (leading to the award of contracts to unqualified people), fronting of contractors and individuals for unqualified firms, preventing the participation of experienced and foreign firms, poor policy implementation with no monitoring mechanism and loss of tender due to strict requirements.
Social implications
Urgent attention is needed to review the BEE policy implementation process by the South African government to address the challenges enumerated by the policy beneficiaries to ensure the achievement of the policy objectives.
Originality/value
This study has identified the challenges of the BEE policy; thus, the government can institute measures to address the hindrances thwarting the beneficiaries from realising the policy objectives.
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The purpose of this viewpoint piece is to focus on sharing a set of best practices with senior and emerging leaders.
Abstract
Purpose
The purpose of this viewpoint piece is to focus on sharing a set of best practices with senior and emerging leaders.
Design/methodology/approach
The paper demonstrates the relevance of the skills of storytelling to the practice of leadership and provides a set of suggestions and recommendations for effective use of stories, based on the authors' personal experience and observations.
Findings
Leaders who tell stories compellingly communicate important messages in a memorable way, offer a pathway to leadership for others, develop more effective relationships with those they lead, and can create an inspirational culture in their organizations.
Practical implications
Leaders can search their own history and experience for important lessons learned that can be communicated in the form of a narrative and learn to tell them with grace, humor, and/or incisiveness at appropriate times in the life of their organization or key people.
Originality/value
Those who are leaders or who work to develop leaders can benefit from this alternative approach to leadership communication.
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Bongani Munkuli, Mona Nikidehaghani, Liangbo Ma and Millicent Chang
The purpose of this study is to explore how the South African government has used accounting technologies to manage the pervasive issue of racial inequality.
Abstract
Purpose
The purpose of this study is to explore how the South African government has used accounting technologies to manage the pervasive issue of racial inequality.
Design/methodology/approach
Premised on Foucault’s notion of governmentality, we conducted a qualitative case study. Publicly available archival data are used to determine the extent to which accounting techniques have helped to shape policy responses to racial inequality.
Findings
We show that accounting techniques and calculations give visibility to the problems of government and help design a programme to solve racial inequality. The lived experiences and impacts of racism in the workplace have been problematised, turned into statistics, and used to rationalise the need for ongoing government intervention in solving the problem. These processes underpin the development of the scorecard system, which measures the contributions firms have made towards minimising racial inequalities.
Originality/value
This study augments the existing body of Foucauldian literature by illustrating how power dynamics can be counteracted. We show that in governmental processes, accounting can exhibit a dual role, and these roles are not always subordinate to the analysis of political realities. The case of B-BBEE reveals the unintended consequences of utilising accounting to control the conduct of individuals or groups.
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GODFREY THOMPSON, JACK DOVE, P LAYZELL WARD, DONALD DAVINSON, HAROLD SMITH, PHILIP HEPWORTH, NORMAN TOMLINSON, FRANK ATKINSON, HELMUT RÖTZSCH and BOB USHERWOOD
PUBLIC LIBRARIANS outside London watch with attention/pleasure/alarm the results of governmental thinking on the re‐organisation of local government. Londoners will be more…
Abstract
PUBLIC LIBRARIANS outside London watch with attention/pleasure/alarm the results of governmental thinking on the re‐organisation of local government. Londoners will be more detached but, remembering 1965 and fingering their old scars, will have sympathy.
WHEN one considers the fundamental weakness of time study—the personal evaluation of performance—it raises the question whether the predetermined motion time system is going to…
Abstract
WHEN one considers the fundamental weakness of time study—the personal evaluation of performance—it raises the question whether the predetermined motion time system is going to absolve the time study engineer from future disputes as to standard times. And if it is, then at whose door, may we ask, are these disputes to be laid?
Shares the successful experience of Lilly Research Laboratories (LRL) in engaging senior leaders in developing the next generation of leaders.
Abstract
Purpose
Shares the successful experience of Lilly Research Laboratories (LRL) in engaging senior leaders in developing the next generation of leaders.
Design/methodology/approach
Describes LRL's major leadership development programmes, and in particular the course on inspirational leadership.
Findings
Reveals that the commitment of a significant amount of time to employee development by respected senior leaders is a powerful message and model to participants. The ability to interact in a deeply personal way with senior leaders is highly motivating. The involvement of senior leaders in the design and development of programmes gives them a strong interest in later participation. Being identified as an inspirational leader and having the opportunity to influence the next generation can be personally rewarding to senior leaders.
Practical implications
Highlights the importance of storytelling in the learning experience.
Originality/value
The methods LRL has used to gain the commitment of senior leaders to developing future leaders may be valuable to other organizations.
Details
Keywords
In the spring of 1982, I published an article in Reference Services Review on marketing libraries and information services. The article covered available literature on that topic…
Abstract
In the spring of 1982, I published an article in Reference Services Review on marketing libraries and information services. The article covered available literature on that topic from 1970 through part of 1981, the time period immediately following Kotler and Levy's significant and frequently cited article in the January 1969 issue of the Journal of Marketing, which was first to suggest the idea of marketing nonprofit organizations. The article published here is intended to update the earlier work in RSR and will cover the literature of marketing public, academic, special, and school libraries from 1982 to the present.
The paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Abstract
Purpose
The paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
The article describes the course run by Lilly Research Laboratories and goes into detail about the reasons for involving senior leaders in the development of future leaders. Very good points are made and the importance of leadership development cannot be ignored. The article offers advice on how to encourage leadership development within one's own organization and uses a friendly tone which makes the article very easy to read.
Practical implications
The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.