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CEO remuneration and company performance in South African mining
Mini Dissertation (MBA)--University of Pretoria, 2025.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2026
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| _version_ | 1867613550306918400 |
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| access_status_str | Open Access |
| author2 | Bussin, Mark |
| author_browse | Bussin, Mark |
| author_facet | Bussin, Mark |
| collection | Thesis |
| dc_rights_str_mv | © 2025 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. |
| description | Mini Dissertation (MBA)--University of Pretoria, 2025. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/109002 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:37:55.807Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2026 |
| publishDateRange | 2026 |
| publishDateSort | 2026 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/109002 CEO remuneration and company performance in South African mining Bussin, Mark ichelp@gibs.co.za de Jager, Roshaan UCTD CEO Renumeration Pay-performance Alignment Corporate Governance Managerial Power Theory South African Mining Sector Mini Dissertation (MBA)--University of Pretoria, 2025. This study examines the relationship between Chief Executive Officer (CEO) remuneration and company performance in Johannesburg Stock Exchange (JSE)-listed South African mining companies from 2018 to 2024. The research addresses the persistent debate on whether executive compensation aligns with firm performance or reflects structural and governance-driven determinants. Guided by agency, optimal contracting, and managerial power theories, the study tests four hypotheses concerning the influence of accounting-based, market-based, and firm-specific factors on CEO pay, as well as the moderating role of firm size. Panel data comprising 69 firm-year observations were analysed using fixed-effects panel regressions with panel-corrected standard errors (PCSE) to control for heteroskedasticity and cross-sectional dependence. The results show that accounting-based profitability, particularly Net Profit Margin, significantly predicts short-term CEO remuneration, while market-based measures such as Total Shareholder Return (TSR) exhibit no significant association. Firm size negatively moderates the pay-performance relationship, indicating weaker sensitivity in larger firms. Overall, the findings reveal partial and asymmetric alignment between CEO pay and performance, with evidence of structural pay rigidity and managerial influence. The study contributes to South African corporate-governance research by demonstrating that formal compliance with King IV principles has improved transparency but not substantive pay-for-performance alignment within the mining sector. Gordon Institute of Business Science (GIBS) MBA Unrestricted Gordon Institute of Business Science (GIBS) SDG-08: Decent work and economic growth 2026-03-16T09:32:23Z 2026-03-16T09:32:23Z 2026-05-05 2025 Mini Dissertation * A2025 http://hdl.handle.net/2263/109002 en © 2025 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. application/pdf University of Pretoria |
| spellingShingle | UCTD CEO Renumeration Pay-performance Alignment Corporate Governance Managerial Power Theory South African Mining Sector CEO remuneration and company performance in South African mining |
| title | CEO remuneration and company performance in South African mining |
| title_full | CEO remuneration and company performance in South African mining |
| title_fullStr | CEO remuneration and company performance in South African mining |
| title_full_unstemmed | CEO remuneration and company performance in South African mining |
| title_short | CEO remuneration and company performance in South African mining |
| title_sort | ceo remuneration and company performance in south african mining |
| topic | UCTD CEO Renumeration Pay-performance Alignment Corporate Governance Managerial Power Theory South African Mining Sector |
| url | http://hdl.handle.net/2263/109002 |