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- Management Dynamics : Journal of the Southern African Institute for Management Scientists
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- Volume 21, Issue 3, 2012
Management Dynamics : Journal of the Southern African Institute for Management Scientists - Volume 21, Issue 3, 2012
Volume 21, Issue 3, 2012
The influence of firm characteristics and economic factors on capital structures : a comparison between book value and market value leverageAuthor A. De VriesSource: Management Dynamics : Journal of the Southern African Institute for Management Scientists 21, pp 2 –16 (2012)More Less
The goal of maximising shareholders' wealth implies that financial managers must structure a firm's financing sources in an optimal manner. Various factors can have an effect on these financing decisions. The objective of this study was to investigate the effect of firm characteristics and economic factors on the capital structures of South African listed industrial firms. Panel data methodology was applied to a sample of 280 firms, covering the period from 1995 to 2008. The results indicate that some of the identified firm characteristics and economic factors do have an effect on capital structure formation. The combined effect of these factors is even stronger when their values for the preceding year are included. Management therefore appears to take some of the factors into consideration when making capital structure decisions. Furthermore, capital structure adjustments are, in some cases, introduced over time by incorporating both the current and past values of these factors.
Source: Management Dynamics : Journal of the Southern African Institute for Management Scientists 21, pp 17 –32 (2012)More Less
Despite the importance of entrepreneurship to the economy, entrepreneurial activity rates in South Africa are low in comparison to those of other countries. In an attempt to understand the underlying factors contributing to these low levels of entrepreneurial activity, this study focuses on the extent to which South African business science students have the entrepreneurial attributes generally associated with entrepreneurial behaviour, and whether having these attributes is associated with their entrepreneurial intentions.
The sample consisted of undergraduate business science students conveniently selected from three South African universities. A measuring instrument was distributed and 447 usable questionnaires were returned. The validity of the measuring instrument was assessed by means of a factor analysis, and its reliability by calculating Cronbach alpha coefficients. Inferential statistics were used to assess whether the mean scores for the entrepreneurial attributes under investigation reported by students with entrepreneurial intentions differed significantly from those reported by other students.
The findings show that the attributes more likely to be found in students exhibiting entrepreneurial intentions are: knowledge-seeking*, continuous learning*, business knowledge, planning and perseverance, communication ability*, initiative and responsibility*, creativity and flexibility, high energy level, financial proficiency* and persuasion and networking. Several of these attributes (marked with an asterisk) were, however, ranked as 'least developed' by students both with and without entrepreneurial intentions.
A content analysis of the research practices reported in the management journal 'Management Dynamics'Author M. WieseSource: Management Dynamics : Journal of the Southern African Institute for Management Scientists 21, pp 33 –47 (2012)More Less
The publication of scholarly work is vital for the creation and dissemination of knowledge in any academic discipline. Only limited published research is, however, available on the status of scholarly management research in South Africa, and a need exists to review published academic articles, especially in terms of current research practices. A total of 108 articles that appeared in the Management Dynamics journal during the period 2004 to 2011 have been reviewed by means of content analysis. The study identified the following practices: a high number of co-authored articles; a high rate of reliability reporting; low levels of validity reporting; an inadequate description of sampling design in some cases; and a preference for surveys. The study also identified a preference among authors for non-probability sampling methods; a low participation rate from industry practitioners; limited theoretical embodiment of the research; and inadequate efforts of authors to interpret their empirical findings in terms of managerial implications.The limitations of the current research practices utilised by management scientists could assist researchers to adapt to the demands of the contemporary research environment.
Author Hester NienaberSource: Management Dynamics : Journal of the Southern African Institute for Management Scientists 21, pp 48 –52 (2012)More Less
Academic writing and the publishing of research results are an integral part of any academic's job. It is important for the individual's academic progression as well as for the creation of knowledge. However, only rigorous research contributes to the expansion of the boundaries of existing knowledge. In South Africa, academic publishing outputs are relatively low, owing to the high rejection rate of articles by scholarly journal editors. The purpose of this paper is to provide some guidelines on typical problems, as identified by editors of scholarly journals, which result in rejection, and how to avoid them. The purpose of the paper was achieved by reviewing recent articles prepared by editors of peer-reviewed business and management journals on typical pitfalls which result in rejection. The value of discussing methodological views on typical errors found in reviewed papers should facilitate the review process and, if these guidelines are followed, should result in a decrease in the number of rejected papers and/or recommendations of major changes to manuscripts.