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The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies
Dissertation (MBA)--University of Pretoria, 2014.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2015
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| _version_ | 1867613599012225024 |
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| access_status_str | Open Access |
| author2 | Ward, Mike |
| author_browse | Ward, Mike |
| author_facet | Ward, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2014 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 | Dissertation (MBA)--University of Pretoria, 2014. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/45030 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:38:42.081Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2015 |
| publishDateRange | 2015 |
| publishDateSort | 2015 |
| 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:2263/45030 The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies Ward, Mike ichelp@gibs.co.za Sennanye, Lesang UCTD Employee empowerment, Black Johannesburg Stock Exchange (JSE) Mining corporations Quantitative research Dissertation (MBA)--University of Pretoria, 2014. The South African government introduced the Black Economic Empowerment (BEE) as an intervention to resolve economic imbalances. In furthering inclusivity in the previously exclusive sectors, like Mining, the BEE legislations and Mining Charter were introduced to benefit the HDSA. The study addressed a significant gap in BEE research, which is important within the South African context, as the country currently reviews progress after the initial 20 years of democratic dispensation. The research examined the share price performance of mining stocks listed on the JSE by tracking their share price performance after announcements relating to black empowerment transactions. The objectives of the research were to, first, determine whether announcements of BEE transactions lead to better shareholder wealth creation in the South African mining sector, second, to determine the impact of these announcements on Old and BEE mining companies that were listed on the JSE post- 1994, third, to determine whether the early BEE announcements made before the release of the Mining Charter in September 2010 had a greater positive impact on the Cumulative Abnormal Returns (CARs) of Mining companies compared to those made after the amendment to legislation. The research employed an event study methodology to analyse a sample of 26 mining companies that made a total of 241 qualifying announcements from January 2000 to November 2014. The results of the study showed negative impact on the CARs of the mining companies. It was noted that the old mining companies that existed before 1994 had better average abnormal return than the BEE companies. Further, the results showed that the Average Abnormal Returns (AARs) of the BEE announcements made prior to the Mining Charter had greater AARs than those made after the implementation. In sum, the BEE announcements had largely a negative impact on share performance of the mining companies. lmgibs2015 Gordon Institute of Business Science (GIBS) Unrestricted 2015-05-07T07:35:54Z 2015-05-07T07:35:54Z 2015-04-24 2014 Mini Dissertation Sennanye, L. (2014).The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies (MBA mini-dissertation).Gordon Institute of Business Science, University of Pretoria. Retrieved from http://repository.up.ac.za/handle/2263/1818 http://hdl.handle.net/2263/45030 en © 2014 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 Employee empowerment, Black Johannesburg Stock Exchange (JSE) Mining corporations Quantitative research The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title | The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title_full | The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title_fullStr | The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title_full_unstemmed | The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title_short | The impact of black economic empowerment transaction announcements on share price performance of JSE listed mining companies |
| title_sort | impact of black economic empowerment transaction announcements on share price performance of jse listed mining companies |
| topic | UCTD Employee empowerment, Black Johannesburg Stock Exchange (JSE) Mining corporations Quantitative research |
| url | http://hdl.handle.net/2263/45030 |