3. Electronic Theses and Dissertations (ETDs) - All submissions
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Item The relationship between corporate social responsibility and firm performance: a study of South African listed companies(2016-04-06) Mukoki, Paul ShepherdA growing number of institutional investors that are adopting corporate social responsibility (CSR) philosophy are playing a crucial role in influencing listed companies to adopt and address CSR issues. CSR is defined as “…a concept whereby companies integrate social and environmental concerns in their business operations…” (European Commission, 2010). CSR is now widely accepted as a way of doing business in the contemporary environment. It is evident in companies that are spending large sums of money, time and effort on satisfying various stakeholders’ requirements for responsible behaviour. Despite the growing pressure on companies to become socially responsible, the direct benefits of CSR contribution to firm performance remain questionable. From existing literature the relationship between CSR and firm performance have pointed to mixed results (Gladysek & Chipeta, 2012; Aggarwal, 2013). This study examines the relationship between CSR performance and firm performance using the CSRHub sustainability indexes as proxy for CSR performance. The firm performance measures of firm value (Tobin’s Q) and financial accounting performance (return on assets) were used. Annual data of firms from the Johannesburg Stock Exchange (JSE) from year 2009 to 2012 was analysed using the Multiple Regression Analysis techniques. The study revealed that significant and positive relationship exists between CSR/environmental performance and firm value of listed South African companies. The study concluded that there is no significant relationship between firm performance and the other components of CSR such as community relations, employment relations, and governance. The relatively small sample size of the listed companies, some missing values on the sample data and the shorter time period on the study are the main limitations acknowledged in this report. In the overall, the study provides important insights for understanding the contribution of CSR and its disaggregated components to firm performance.Item Perceptions of occupational social workers in Gauteng regarding their potential engagement in corporate social responsibility.(2014-06-12) Dugmore, Carolyn ElizabethOccupational social work and corporate social responsibility share commonalities which could provide significant avenues for occupational social worker practice, especially at a macro level of intervention, the area most lacking in their service delivery. The engagement of occupational social workers in corporate social responsibility in South Africa seems to have been misunderstood, with consequent limited involvement of the profession in this field. The main aim of this qualitative exploratory study was to explore the perceptions of occupational social workers in Gauteng regarding their definition and envisaged engagement in corporate social responsibility interventions in order to motivate for the incorporation of corporate social responsibility into their practice. To achieve the aim of the study, semi-structured interviews were held with seven occupational social workers and three social workers with five years practical experience in occupational social work. Sampling was not necessary given the small size of the research population. Data analysis took the form of thematic content analysis. The main findings were that the participants’ primarily defined corporate social responsibility as the contribution made by companies to the community outside the workplace however, they subsequently identified internal stakeholders, such as employees, as legitimate recipients of corporate social responsibility services. The data analysis revealed a clear perception that occupational social workers were well-suited to play roles in corporate social responsibility, utilising a full range of their micro, meso and macro skills. The identification of avenues for macro practice with internal and external company stakeholders was particularly significant, given that this is the area of intervention which has been most lacking in occupational social work service delivery. It was also established that the objectives of developmental social welfare could be incorporated into occupational social work roles in corporate social responsibility. The conclusion was reached that occupational social workers could play valuable roles in the social responsibility endeavours of companies to contribute towards change efforts to address the social problems and transformation challenges which plague South African society. The support of company leadership, who are open to the ideas of occupational social workers and champion an increased mandate for them, would be facilitative to the development of an occupational social work domain in the field of corporate social responsibility.Item GRI and SRI: acronyms for investor success?(2014-03-06) Labuschagne, ZaniThe global move towards sustainability and sustainability reporting, the rise and influence of the Global Reporting Initiative (GRI) and triple bottom line reporting, together with the launch of the King III Report, and revision of the Johannesburg Stock Exchange (JSE) listing requirements in South Africa, both requiring the preparation of an integrated report, have resulted in a uniquely altered information environment, in which investors are required to make investment decisions. The value-relevance of this new sustainability information is however to date untested in a South African context. The introduction of the Social Responsible Investment (SRI) Index in South Africa provides a unique opportunity to evaluate the value-relevance of such new reporting. This research report tests the GRI, using the SRI Index as a proxy, to determine whether this accepted reporting standard is recognized as being valuerelevant, from both a short term and long term perspective, on the JSE over the period 2004 to 2012. The short term value-relevance is tested using cumulative average abnormal returns in an event study methodology, while the long term effect was investigated using a 4-tiered portfolio construction technique, which uses the SRI Index category rankings to define the portfolios. The results indicate that true to the long term nature of sustainability information, in the short term the quality of sustainability and sustainability reporting has no effect on the market value of a company. However, in the long term, a positive effect was found where the SRI listed portfolio, and the SRI best performer portfolio, significantly outperformed the non-listed portfolio on a consistent basis as measured using relative performance. The SRI persistent best performer portfolio however underperformed all other portfolios. This is however due to an overwhelming lack of diversification due to a low number of shares in the portfolio, as well as the portfolio being severely overweight in resource shares, which tend to be the best reporters, due to their large environmental impact. The research report therefore concludes that investing in a higher quality SRI/GRI sustainability portfolio, as opposed to a lower quality portfolio, resulted in excess returns to the investors over the period 2004-2012.Item Corporate social responsibility in Chinese state-owned enterprises in South Africa : an empirical study of managerial attitudes.(2014-03-03) Zeng, QiongyanAbstract could not load on D Space.Item Exploring corporate social responsibility initiatives in South Africa : the case of the TISO Foundation in Johannesburg.(2012-08-27) Malm, Angela EugeniaCorporate social responsibility (CSR) continues to gain attention amongst corporate bodies and is the medium through which the private sector contributes to development. The last decade has seen a significant growth in CSR initiative in South Africa, partly due to the implementation of public polices such as the Black Economic Empowerment (BEE) Code of Good Practice and the various industry charters that obligate corporate institutions to contribute towards the reconstruction efforts of the nation. As a result many organizations have adopted strategies that include social development projects as part of their core business objectives, thus the initiation of certain projects and programmes as part of their CSR contributions to the reconstruction efforts. Although CSR has roots in philanthropic activities, it has become evident that when CSR initiatives are designed strategically to embody the holistic views of business goals towards profit making as well as community goals that promote positive development. Anecdotal evidence suggests that projects collapse after corporations discontinue funding due to lack of community involvement which renders CSR initiatives unresponsive to the developmental needs of communities. The study sought to explore the extent to which corporate social responsibility initiatives were responsive to the educational needs of beneficiaries in Johannesburg. It also explored beneficiary perceptions on how CSR initiatives can be sustained. The study population was drawn from Tiso Foundation and three partnering organisations. A qualitative case study design was utilised in the study to obtain in depth information from the research participants concerning the CSR initiatives of Tiso Foundation. Semi-structured interview schedules were used to conduct interviews with both beneficiaries of the CSR initiatives and key informants. The research sample consisted of 16 beneficiaries of Tiso Foundation’s CSR initiatives and 6 key informants that were drawn from Tiso Foundation and partnering organizations. The findings revealed that the CSR initiatives were responsive to the needs of the beneficiaries by providing them access to education and skills development. The findings also established the nature of beneficiary participation in CSR initiatives as partially participatory. The study recommended that CSR initiatives should take a developmental approach towards programme executions to ensure full participation of beneficiaries in order to ensure sustainability of the programmes even after funding is discontinued. The study also iv suggests the collaborative partnership of government and the private sector towards sustainable development by enhancing and complimenting each other’s efforts.Item A look at corporate social responsibility and firm performance : evidence from South Africa(2011-12-12) Demetriades, KimonCorporate Social Responsibility (CSR) is a new topic in finance which can be viewed from two different perspectives: that of the business (CSR), and that of the individual investor (Socially Responsible Investing, SRI). The evidence from this study suggested that in the short-term, there were no significant price effects on the SRI stocks around the announcement dates of the SRI constituent lists. In contrast, the returns of SRI portfolios over the sample period seemed to be superior to those of conventional firms. The regression analysis found that generally the SRI coefficients were insignificant; however using one of the models during the fifteen year period, it was found that SRI constituents attained a ROE that was 11.18% higher than conventional peers as well as a ROA that was 1.824% lower than conventional firms. When the period was restricted to 2004-2009 it was found that social performance was positively (and sometimes significantly) correlated with ROE.