SUNScholar - Browsing by Author "Viviers, Suzette"

Browsing by Author "Viviers, Suzette"

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Does business education cultivate environmental citizenship?
(SUNMeDIA, 2014-04) Lillah, Riyaadh; Viviers, Suzette
Reductive management theories (based on the utility maximisation economic model) are increasingly being criticised as the cause of recent corporate scandals. Management education has neglected the interwovenness of humans and the environment, and the moral obligation of businesses towards the natural environment. This study identified perceptions of students and academics at a prominent South African university regarding levels of environmental awareness and values, implications of environmental management, environmental education, pro-environmental behaviours, and incentives to go green, using a questionnaire. The results revealed that business students and academics differ from their counterparts in other faculties regarding perceptions of factors that influence environmentally responsible citizenship.
The effect of public investor activism on trust : a case study in the asset management sector
(AOSIS, 2019-02-11) Viviers, Suzette; Theron, Edwin
Orientation: Compromised global trust levels appears to be one of the lasting legacies of the 2007 financial crisis, also in the financial services industry. In order to rebuilt trust, it is not only important to identify the drivers of trust, but also to assess the contexts within which trust is cultivated. Research purpose: The researchers investigated the impact that this announcement and a subsequent apology by Futuregrowth’s chief investment officer (CIO) had on trust in the asset management sector. Motivation for the study: Trust could be compromised when investors publicly engage with investee companies on contentious issues. As most investor activism in South Africa takes place in private, a unique research opportunity presented itself when Futuregrowth Asset Management publicly announced that they would suspend their funding to six state-owned enterprises (SOEs). Futuregrowth is the biggest private fixed-income asset manager in Africa and is renowned as a responsible investor. Research approach/design and method: Content analysis was performed on 31 articles published in financial newspapers and magazines. In addition, semi-structured personal interviews were conducted with the CIO of Futuregrowth, another member of his team and six prominent local asset managers. Main findings: The findings suggest that asset managers who wish to engage with investee companies in South Africa, especially SOEs, should preferably do so in private as a first recourse. When they do decide to speak out in public, they should focus on maintaining both calculative and affective trust. Failure to recognise the importance of affective trust, especially during periods of socio-political and economic uncertainty, could jeopardise trust in the asset management sector. Practical/managerial implications: The evidence suggests that affective trust is increasingly important in the chosen sector. Asset managers should no longer only focus exclusively on credibility, reliability and competence but should also give due consideration to the affective trust elements of integrity and fairness. Contribution/value-add: The findings are particularly pertinent in countries with small stock exchanges and high degrees of director interlocking. The research methodology adopted in this study represents a novel contribution to research in the asset management field.
Entrepreneurial intentions and behaviours of South African university students
(AOSIS Publishing, 2013-12-31) Viviers, Suzette; Solomon, Goosain; Venter, Chanel
The entrepreneurial intentions and behaviours of South African university students are important factors to consider when developing entrepreneurship offerings at local universities. This article reports on pertinent findings from a study which set out to determine South African students’ career choice intentions and entrepreneurship behaviours as well as their knowledge and utilisation of, demand for and satisfaction with entrepreneurship offerings of local universities relative to international universities. A survey, using a 15-question structured web-based instrument was used to capture the responses from university students across 26 nations in the Global University Entrepreneurial Spirit Students’ Survey (GUESSS) conducted in 2011. Key findings are that few South Africa university students intend to enter into an entrepreneurship career immediately after completion of their studies, whereas close to a third of respondents were interested in doing so five years after graduation. The vast majority of students were satisfied with entrepreneurship offerings at South African universities. More physical support such as network access platforms are however needed as well as awareness of and access to small business funding mechanisms. Better marketed and focussed entrepreneurship offerings are essential to foster an environment at South African universities to promote entrepreneurship as career choice.
Executive remuneration in South Africa : key issues highlighted by shareholder activists
(SUNMeDIA, 2015-12) Viviers, Suzette
The growing wage gap in South Africa has far-reaching socioeconomic consequences. This study investigated the nature of executive remuneration issues raised by shareholder activists in the country. An analysis of 24 510 votes cast by 17 investment managers at 347 companies listed on the Johannesburg Stock Exchange in 2013 revealed that the vote to endorse companies’ executive remuneration policies evoked the most opposition. Well-known shareholder activist, Theo Botha, also criticised companies for failing to disclose sufficient details on their remuneration policies. A disconnect between the performance of companies and their executives’ pay was also noted. It is recommended that the non-binding vote on executive remuneration be revised and more investor education provided.
Individual shareholder activism in South Africa : the case of Theo Botha
(AOSIS Publishing, 2016) Viviers, Suzette
Shareholder activists play a key role in monitoring managerial behaviour. This study was undertaken given the paucity of research on the shareholder activism as practised by individual shareholders. Accordingly, the motives, modus operandi and sources of salience of Mr Theo Botha, a well-known shareholder activist in South Africa, were investigated. Document analysis and an in-depth interview conducted with Botha revealed that he not only has a clear goal, but is also very passionate about achieving his goal. Botha prepares meticulously before engaging companies across the economic spectrum. In addition to possessing normative power, Botha also exhibits individual, pragmatic and societal legitimacy. His assertiveness, persistence and willingness to apply his own resources significantly contribute to his prominence as a corporate watchdog. Shareholder activists who wish to become more salient (irrespective of their size) could learn from Botha’s experiences over the past decade.
Investigating director development in South Africa
(AOSIS, 2018) Mans-Kemp, Nadia; Viviers, Suzette; Staal, Blanche-Mari; Van Schalkwyk, Jurie
Orientation: To effectively fulfil their multiple roles, the four King Reports suggest several development mechanisms for newly appointed and seasoned directors. Research purpose: This study investigated the most prominent King III director development initiatives used by the Johannesburg Stock Exchange (JSE) Top 40 companies over the period 2011–2015. Motivation for the study: Despite the emphasis on director development in the King Reports, there is a paucity of academic research on the topic. The authors hence evaluated corporate reporting on and the application of selected director development mechanisms. Research design, approach and method: A mixed-methods approach was adopted. Key words were used to conduct content analysis on the companies’ integrated reports. Disclosure and depth scores were constructed to evaluate reporting trends. To gain further insight into these trends, semi-structured personal interviews were conducted with directors who had varying levels of experience. Main findings: The majority of the JSE Top 40 companies disclosed some details regarding the director development initiatives they used. The key word analysis revealed that most companies focused their development efforts on new board appointees. The interviewees emphasised that the entire directorate should be continuously developed. Participants indicated that mentoring is an important informal development mechanism. In line with literature, they stressed that all directors should take personal responsibility for their development. Contribution/value-add: This study emphasises the importance of continuous director development beyond the orientation of new board appointees. A well-developed board is in a better position to fulfil its responsibilities to shareholders and other key stakeholders than a less developed one.
Mechanisms to promote board gender diversity in South Africa
(AOSIS, 2017-09-15) Viviers, Suzette; Mans-Kemp, Nadia; Fawcett, Rebecca
Research purpose: Board gender diversity is gaining increasing attention globally and in South Africa. Although more women are serving on the boards of companies listed on the Johannesburg Stock Exchange (JSE), they only represent approximately one-fifth of all directors. This situation mirrors international trends. A review of the extant literature revealed three prominent mechanisms to increase the appointment of female directors, namely mandatory board gender quotas, voluntary targets and shareholder activism. The authors critically evaluated these three mechanisms with the aim of suggesting the most appropriate ones in the South African context. Motivation for the study: The study was undertaken given the paucity of comparative research on the three change mechanisms and the need to promote greater board gender diversity in South Africa. Research design: Judgement and snowball sampling were used to identify a sample of experienced local asset managers. Semi-structured personal interviews were conducted to gauge these individuals’ views on the applicability of these change mechanisms in South Africa. The qualitative data were analysed using thematic analysis. Key findings: Although the participants acknowledged the importance of board gender female board representation, none of them have engaged investee companies on the topic over the period 2011–2016. This study provides evidence that legislation is the least preferred mechanism to promote board gender diversity in South Africa. Voluntary targets and public pressure from shareholders might be more effective. Contribution: Whereas existing research mainly centres on the rationale for board gender diversity, this study goes a step further by investigating three prominent mechanisms to promote female board representation. A contribution is made to the body of knowledge on diversity management. Context-specific recommendations are offered.
Mixing morals and money – a futile dream?
(Stellenbosch : Stellenbosch University, 2013-10) Viviers, Suzette
Suzette is op 28 September 1973 gebore as enigste dogter van Andries en Anna Viviers. Sy is ’n laatlam en het drie ouer broers, Dolph, Kobus en Andrè. Suzette voltooi haar hoërskoolloopbaan aan Goudrif Hoërskool, Germiston. Na die afsterwe van haar vader in 1990, verhuis sy en haar moeder na Port Elizabeth. In 1995 behaal sy haar BCom-graad cum laude met Ondernemingsbestuur en Bedryfs- en Organisasiesielkunde as hoofvakke. In 1996 ontvang sy haar BCom Honneursgraad in Ondernemingsbestuur ook met lof. Sy het hierdie graad gedeeltelik aan die eertydse Universiteit van Port Elizabeth (UPE) en gedeeltelik aan die Vrije Universiteit van Amsterdam voltooi. Twee jaar later ontvang sy haar meestersgraad aan die Vlerick-Leuven-Gent-Management-School in België, weereens met onderskeiding. After a short stint in the consulting industry, she began her academic career in the Department of Business Management at UPE in January 1999. She completed her DCom degree in 2006 under the guidance of Professors Johan Bosch (UPE), Arie Buijs (Utrecht University) and Eon Smit (Stellenbosch University). Her thesis, entitled “A critical assessment of socially responsible investing in South Africa,” documented the development of the phenomenon, its ethical foundations and the riskadjusted performance of a sample of local responsible investment funds. The main finding of this study was that South African investors who wish to invest in line with their personal values would not have to sacrifice returns. In 2009 ontvang Suzette ’n toekenning as Ontluikende Navorser aan die Nelson Mandela Metpolitaanse Universiteit (die voormalige UPE) en ’n Y2-gradering van die Nasionale Navorsingstigting in 2010. Op 1 September 2010 aanvaar Suzette ’n pos as senior lektor in die Departement Ondernemingsbestuur aan die Universiteit Stellenbosch. In April 2011 word Suzette die eerste vroueprofessor in die Departement se geskiedenis. Soos in Port Elizabeth doseer sy finansiële bestuur en beleggingsbestuur op voor- en nagraadse vlak. Sy doseer ook finansiële bestuur aan die Universiteit Utrecht (2002, 2011 en 2013) en aan die Amerikaanse Universiteit van Koeweit (2009) as deel van die universiteite se somerskoolprogramme. Oor die jare het sy verskeie nagraadse studente begelei en wyd gepubliseer in plaaslike en internasionale vaktydskrifte. Sy het talle referate by nasionale en internasionale kongresse gelewer en is ook mede-outeur van twee handboeke in finansiële bestuur. Gegewe haar passie vir etiek, sentreer haar navorsing op verskillende aspekte van sake- en beleggingsetiek. Suzette has served as Director of the Unit for Applied Management Sciences at the Nelson Mandela Metropolitan University (Jan 2008–Aug 2010) and as Secretary General of the Business Ethics Network of Africa (Nov 2010–Nov 2012). Since joining Stellenbosch University she has been a member of the University’s Research Ethics Committee (Humanities). Sy dra hierdie intreerede aan haar moeder, Anna Viviers, en ouma, Babe van den Berg, op.
Public 'say on pay' activism in South Africa : Targets, challengers, themes and impact
(AOSIS, 2019-10-22) Viviers, Suzette; Mans-Kemp, Nadia; Kallis, Linda; Mckenzie, Kristen
Background: Shareholders and other stakeholders in South Africa are increasingly raising their concerns in public about seemingly excessive executive remuneration. Most of their criticism is rooted in the large and growing wage gap in the country. Aim: The authors investigated the nature of the entities whose executive remuneration policies and practices were publicly criticised, the types of challengers involved in this social movement, key issues raised and the impact that the challengers had on the targeted executives’ remuneration. Setting: Public activism involving five South African state-owned enterprises and 38 companies listed on the Johannesburg Stock Exchange. Methods: Executives and entities that were targeted in public were identified from three online financial newspapers published between 01 January 2010 and 31 December 2016. A total of 92 events were recorded involving 65 executives. Data on these executives’ emolument and three control variables were sourced from Bloomberg. Descriptive statistics and mixedmodel analysis of variance tests were employed to evaluate the quantitative secondary data. Results: In line with the extant literature, most of the targets were large, well-known companies. Individual and minority shareholders represented the largest category of challengers, followed by asset managers and trade unions. The vast majority of concerns centred on the size and composition of executives’ packages and insufficient justifications provided by remuneration committees. The total pay, bonuses and other performance-based incentives decreased significantly in the year after the companies were publicly targeted. Conclusion: The findings suggest that public ‘say on pay’ activism can be an effective mechanism in addressing seemingly excessive executive emolument.
The relative importance of ethics, environmental, social and governance criteria
(African Sun Media, 2012) Viviers, Suzette; Kruger, Janine; Venter, Danie J. L.
Responsible investing (RI) is a growing phenomenon in the international investment arena. This article investigates the level of knowledge of members of South African pension/provident funds with regard to RI and the importance with which they view various ethical, environmental, social and governance (ESG) criteria. Respondents (n = 281) indicated a relatively low level of understanding of the concept of RI. Significant differences were noted in the perceptions of respondents about the relative importance of ethical and ESG criteria based on their gender and level of education. The findings could assist asset owners in reformulating their investment mandates, which in turn, will enable fund managers to invest in a more responsible manner.
Responsible investing in South Africa? a retail perspective
(OASIS, 2013) Viviers, Suzette; Firer, Colin
This research addresses a gap in the literature on responsible investing (RI) in South Africa by studying the risk-adjusted performance of RI unit trusts available to retail investors. The Sharpe, Sortino and Upside-potential ratios for 16 RI unit trusts, their benchmarks and a matched sample of conventional unit trusts were calculated for the period 1 June 1992 – 31 August 2011. Most of the RI unit trusts in South Africa use exclusionary screens based on Shari’ah (Islamic) law with the remaining funds focusing on social issues, such as labour relations and social development. The total expense ratios of RI unit trusts are slightly higher than those of conventional funds, but no different from that of their benchmarks or a matched sample of conventional unit trusts. It is suggested that local assets managers expand the range of retail RI unit trusts available in the country.
South African university students' intentions to establish social enterprises
(AOSIS Publishing, 2012-12-31) Viviers, Suzette; Venter, Chanel; Solomon, Goosain
ENGLISH SUMMARY : Stimulating social entrepreneurship in South Africa has the potential to address not only the high youth unemployment rate in the country, but also other pressing social and environmental challenges. This study was conducted as part of the 2011 Global University Entrepreneurial Spirit Students’ Survey and focused on South African university students’ intentions to start social enterprises. The findings, based on 673 responses to an online questionnaire, reveal that the majority of respondents had such an intention. However, less than half of this group mentioned the specific type of environmental or social mission that they would like to pursue. Despite more males than females being currently engaged in social entrepreneurship activities in South Africa, no statistically significant difference was found in this study between the intentions of male and female respondents in starting a social enterprise. African language speakers and students enrolled for qualifications in the social sciences were, however, statistically more likely to start social enterprises. Education is a critical factor in achieving increased levels of social entrepreneurship activity; however, fundamental interventions in the education system are required to achieve this objective.
What constitutes impact? definition, motives, measurement and reporting considerations in an African impact investment market
(Medknow Publications, 2021) Viviers, Suzette; McCallum, Stephen
Impact investing is the fastest growing responsible investment strategy and has the potential to address many of the environmental and socio-economic challenges faced by humanity. Some scholars, however, claim that definitional ambiguity confounds impact measurement and hence reduces the attractiveness of this investment strategy. To investigate this claim, semi-structured personal interviews were conducted with 13 experienced impact investors in a large African market. Participants did not regard definitional ambiguity as a serious barrier, but found it difficult to identify and articulate specific impact objectives that could match their financial return expectations. Investors called for more training and information sharing platforms.

Browsing by Author "Viviers, Suzette"

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