Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa
Corporate social responsibility (CSR) has recently received considerable attention in literature. One of the vehicles by which companies can conform to CSR in South Africa is Black Economic Empowerment (BEE). In this regard, BEE has been employed to assist previously disadvantaged groups of investor...
Main Authors: | , |
---|---|
Format: | Article |
Language: | English |
Published: |
AOSIS
2011-08-01
|
Series: | South African Journal of Economic and Management Sciences |
Online Access: | https://sajems.org/index.php/sajems/article/view/275 |
id |
doaj-419267077a1b47f8bbe4887020420c98 |
---|---|
record_format |
Article |
spelling |
doaj-419267077a1b47f8bbe4887020420c982020-11-25T01:39:07ZengAOSISSouth African Journal of Economic and Management Sciences1015-88122222-34362011-08-0112218019310.4102/sajems.v12i2.27587Corporate social responsibility: the financial impact of black economic empowerment transactions in South AfricaHendrik Wolmarans0Kurt Sartorius1University of PretoriaUniversity of WitwatersrandCorporate social responsibility (CSR) has recently received considerable attention in literature. One of the vehicles by which companies can conform to CSR in South Africa is Black Economic Empowerment (BEE). In this regard, BEE has been employed to assist previously disadvantaged groups of investors obtain a larger share of the equity of South African listed companies. The question has often been asked whether the announcement of BEE transactions by listed companies increases shareholder wealth. This article tries to answer this question by examining the share performance of 125 BEE transactions involving 95 companies during the period January 2002 to July 2006. The results indicate a positive relation between BEE transaction announcements and shareholder wealth creation, but only during the last part of the period covered by the study.https://sajems.org/index.php/sajems/article/view/275 |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Hendrik Wolmarans Kurt Sartorius |
spellingShingle |
Hendrik Wolmarans Kurt Sartorius Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa South African Journal of Economic and Management Sciences |
author_facet |
Hendrik Wolmarans Kurt Sartorius |
author_sort |
Hendrik Wolmarans |
title |
Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa |
title_short |
Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa |
title_full |
Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa |
title_fullStr |
Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa |
title_full_unstemmed |
Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa |
title_sort |
corporate social responsibility: the financial impact of black economic empowerment transactions in south africa |
publisher |
AOSIS |
series |
South African Journal of Economic and Management Sciences |
issn |
1015-8812 2222-3436 |
publishDate |
2011-08-01 |
description |
Corporate social responsibility (CSR) has recently received considerable attention in literature. One of the vehicles by which companies can conform to CSR in South Africa is Black Economic Empowerment (BEE). In this regard, BEE has been employed to assist previously disadvantaged groups of investors obtain a larger share of the equity of South African listed companies. The question has often been asked whether the announcement of BEE transactions by listed companies increases shareholder wealth. This article tries to answer this question by examining the share performance of 125 BEE transactions involving 95 companies during the period January 2002 to July 2006. The results indicate a positive relation between BEE transaction announcements and shareholder wealth creation, but only during the last part of the period covered by the study. |
url |
https://sajems.org/index.php/sajems/article/view/275 |
work_keys_str_mv |
AT hendrikwolmarans corporatesocialresponsibilitythefinancialimpactofblackeconomicempowermenttransactionsinsouthafrica AT kurtsartorius corporatesocialresponsibilitythefinancialimpactofblackeconomicempowermenttransactionsinsouthafrica |
_version_ |
1725050345208414208 |