Title page for ETD etd-03202012-121101


Document Type Master's Dissertation
Author Van Heerden, Jan Hendrik
Email henk@cablecompany.co.za
URN etd-03202012-121101
Document Title Contribution of broad-based black economic empowerment to the financial performance of companies listed on the JSE during a recession
Degree MBA
Department Gordon Institute of Business Science
Supervisor
Advisor Name Title
Prof A Saville Supervisor
Keywords
  • JSE
  • Johannesburg Stock Exchange
  • broad-based black economic empowerment
Date 2012-03-08
Availability unrestricted
Abstract
The ANC government has implemented various mechanisms to promote inclusivity of all economic citizens over the past 15 years. The main objectives of all the policies was to promote economic transformation in order to enable meaningful participation of black people in the economy and to change the racial composition of ownership and management structures of existing and new enterprises. The purpose of the research was to determine the contribution of Broad-Based Black Economic Empowerment (BBBEE) to the financial performance of companies on the Johannesburg Stock Exchange (JSE) during the economic recession. The underlying assumption was that companies with greater overall BBBEE compliance rating should outperform companies with a lower overall BEE compliance rating. The top BBBEE rated companies on the JSE were analysed to determine whether these companies outperformed that sector indices. Market-to-book-value, Price-Earnings Ratio and Annual Return were used as financial performance measures. The results showed that there was a positive correlation between the companiesí BBBEE rating and the financial performance. On further investigation it was revealed that on average the companies with greater BBBEE ratings did not outperform companies with lower BBBEE ratings nor did they outperform the sector indices

Copyright 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria.

Please cite as follows:

Van Heerden, JH 2011, Contribution of broad-based black economic empowerment to the financial performance of companies listed on the JSE during a recession, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://upetd.up.ac.za/thesis/available/etd-03202012-121101 / >

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