Browsing by Author "Baard, Roelof"
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- ItemCorporate websites in Africa : has online investor relations communication improved during the past four years? : Evidence from Egypt, Kenya, Morocco, Nigeria and Tunisia(AOSIS OpenJournals, 2011-07) Baard, Roelof; Nel, GeorgeBackground: Investors require detailed financial and nonfinancial information to evaluate investments. This information is available in various forms (e.g. hard copies, published media, broker and investment consultants and corporate websites). Corporate websites have the potential to be both a one-stop-shop for investor needs and an efficient cost-effective medium for companies to communicate with investors. As previous research (Baard & Nel 2006) showed unacceptable low levels of Internet presence in selected African countries compared to other international companies, including companies in South Africa, a follow-up study was undertaken. An improvement was expected given the rapid increase in Internet users, improvements in infrastructure, the arrival of wireless access technologies and lower tariffs. Objectives: The objectives of this study were to measure the availability of corporate websites and dedicated investor relations (IR) sections; to evaluate the content of IR information communicated and to compare findings with previous research. Method: For ease of comparison this study has evaluated the same 40 companies in each of the countries, namely Egypt, Kenya, Morocco, Nigeria and Tunisia that were evaluated in the 2006 study. A number of steps were taken to find the websites after which all the working websites were screened and evaluated against a checklist of international best practices. Results: Although improvements were apparent, 19% of the companies in the study still do not have websites, 20% do not supply financial information on websites and a significant number of companies do not optimally utilise websites according to international best practices. Conclusion: Notwithstanding improvements, a significant number of companies do not optimally utilise their corporate websites to communicate to investors. Possible reasons were discussed (e.g. necessary skills, available technology and cost), but it was concluded that companies are probably either negligent, do not regard it as important to communicate information to investors via corporate websites, or do not realise the benefits of communicating company information in this manner.
- ItemDoes free higher education in South Africa make economic sense? Views of commerce students(HESA, 2020) De Jager, Eloise; Baard, RoelofStudent protests demanding ‘free’ higher education at South Africa universities in 2015 is a reminder that there are still a lot of unresolved issues regarding the inequalities due to the apartheid era in the higher education system. Some of these issues include insufficient state funding of higher education, the increase of tuition fee and unpaid student debt. Even though ‘free’ higher education sounds appealing, the question is whether implementing ‘free’ higher education would make economic sense in South Africa. The study aimed to investigate the perceptions of commerce students at one South African university regarding the economic feasibility of ‘free’ higher education and how it might affect the South African economy. The research aimed to give a descriptive analysis of the perceptions of commerce students and were empirically investigated by means of a questionnaire, containing both open and closed questions. Gaining understanding into student perceptions can be invaluable, as they are considered the livelihood of higher education institutions.The results show that the respondents do not think that ‘free’ higher education make economic sense in South Africa as the economy is too weak and there is too much corruption and wasteful spending in government. The respondents also indicated that the economy will mostly be negatively affected by ‘free’ higher education in that there will be an increase of the financial burden on the South African economy and tax payer. They also regard other government services to be of greater importance than implementing ‘free’ higher education.The results of this study are not necessarily generalisable beyond the scope of the particular institution, but the findings do create a platform for the continued debate on the importance, economic feasibility and implementation of ‘free’ higher education in South Africa.
- ItemAn explanatory study of the use of e-mail investor communication by South African listed companies(AOSIS Publishing, 2016-12-01) Baard, Roelof; Nel, GeorgeBackground: Although research shows that almost all listed companies have corporate websites with dedicated investor relations (IR) sections that enable companies to ‘push’ information to investors, it was argued that such an asymmetrical approach to communication is insufficient for companies wishing to exercise good IR. The purpose of this study was to test the effectiveness of the Internet to act as a mechanism to achieve more interactive communication between companies and investors. Objectives: The objectives of the study were to measure the responsiveness, timeliness and relevance of companies’ responses to e-mail requests, and to test for the determinants (size, market-to-book ratio, profitability, leverage and liquidity) thereof. Method: The mystery investor approach and a content analysis were used to study the e-mail handling performance of companies. The associations between company-specific characteristics were statistically tested. Results: It was found that the e-mail handling performance of companies in this study was poor compared with previous studies. Significant relationships between company size and responsiveness and relevance, and between market-to-book ratio and relevance were reported, as well as between the contact method used to request information and relevance and the use of social media and timeliness. Conclusion: Specific areas where companies could improve their investor communications were identified. The need for further research was discussed to explain some of the relationships found, as well as those not found, in contrast to what was expected. Future research is warranted to examine the relationship between the e-mail handling performance of companies and information asymmetry and the cost of equity of companies.
- ItemStudent perceptions of the factors influencing their success in first-year accounting(AFRICAN SUN MeDIA, 2009) Steenkamp, Len; Baard, Roelof; Frick, LiezelENGLISH SUMMARY : Introduction: The learner brings an accumulation of assumptions, motives, intentions, and previous knowledge that envelopes every teaching/learning situation and determines the course and quality of learning that may take place (Biggs, 1996:348). Biggs’s understanding of the determining influences students may have on the teaching and learning environment is supported by a variety of authors in the field of Accounting education (Byrne & Flood, 2005; Duff, 2004; Duff, Boyle, Dunleavy & Ferguson, 2004; Lucas & Meyer, 2004; Ramburuth & Mladenovic, 2004). The changed and increasingly diversified student populations in higher education across the world (Cross, 2004; Drost, 2002; Lowe & Cook, 2003) amplify the need for Accounting lecturers to take note of their students’ assumptions, motives, intentions, and previous knowledge that may influence student success (Byrne & Flood, 2005). Various studies provide general information on students entering the higher education system (for example, Masitsa, 2004; Mji, 2002; Pillay, 2004; Toni & Oliver, 2004; Wößmann, 2003). A number of studies focus on Accounting students’ approaches to learning (Byrne, Flood & Willis, 2004; Duff, 2004; Lucas & Meyer, 2004; Ramburuth & Mladenovic, 2004), while Hermanson, Deines, Eldridge, Hermanson, Ivancevich and Williams (1996) focus on the recruitment of first-year Accounting students in the USA. Du Plessis, Müller and Prinsloo (2005), Müller, Prinsloo and Du Plessis (2007), Rowlands (1988) and Van Rensburg, Penn and Haiden (1998), focus particularly on the first-year success of Accounting students at three different South African universities. The South African-based studies investigated the causal relationships between various indicators, notably students’ prior school performance, as possible predictors of future academic success.