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N. Wesson,B. W. Bruwer,W. D. Hamman
AbstractShare repurchases, rather than dividend payments, are increasingly becoming the globally favoured payout method. This has prompted a renewed interest in the field, and raises questions about the actual motivation for share repurchases and whether...
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N. Wesson,W. D. Hamman
AbstractThis study aims to establish whether the repurchasing of treasury shares by a holding company is a regular occurrence for companies listed on the Johannesburg Stock Exchange (JSE); whether these repurchasing companies have complied with the relev...
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P. G. Bester,N. Wesson,W. D. Hamman
AbstractThis study undertook to derive share repurchase trends from a small sample of JSE-listed companies over the nine years, 1999 ? 2008. The study also draws attention to the particular obstacles to be overcome when conducting research into the uniqu...
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G. H. Muller,B. W. Steyn-Bruwer,W. D. Hamman
AbstractIn 2006, Steyn-Bruwer and Hamman highlighted several deficiencies in previous research which investigated the prediction of corporate failure (or financial distress) of companies. In their research, Steyn-Bruwer and Hamman made use of the populat...
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P. G. Bester,W. D. Hamman,L. M. Brummer,N. Wesson,B. W. Steyn-Bruwer
AbstractThe legalisation of share repurchases in South Africa since July 1999 introduced additional complexity to financial reporting. The repurchasing of shares by subsidiaries or share trusts has led to a new concept: the number of company shares diffe...
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B. W. Steyn-Bruwer,W. D. Hamman
AbstractThe deficiencies in previous research on failure prediction studies were identified from the international literature. This study?s purpose is to address these deficiencies while using a new method in developing failure prediction models, namely ...
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N. Van Aswegen,B. W. Steyn,W. D. Hamman
AbstractValue added is a measure of the increase in wealth of a company. The question posed in this paper, is whether there was a change over time; firstly in the percentage of added value by companies as a proportion of sales and secondly in the distrib...
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C. King,W. D. Hamman
AbstractThis article aims to determine if value added-based ratio analysis could be used to measure organisation strength and be useful as a tool in corporate strategy formulation. The areas of investigation included productivity of production factors, r...
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B. W. Steyn,W. D. Hamman,E. V.D.M. Smit
AbstractCash is king. Even a highly profitable company can find itself in search of financing due to a lack of cash to honour its obligations. If this situation is only temporary and external sources of finance are freely available, this cash flow obstac...
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W. Steyn,W. D. Hamman,E. V.D.M. Smit
AbstractA high growth rate may not be the ultimate measure of a successful company. This article shows that growth at too high a rate, for a company with a high non-cash working capital component, may lead to financial difficulties.While the income state...
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