On the Case for “Black Economic Empowerment” in South Africa**

Black, Philip

doi:10.1111/j.1813-6982.2002.tb00061.x

Cited by 9 publications

(5 citation statements)

References 16 publications

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“…BEE has been justified on an equity basis, as well as for economic reasons. Giving previously disempowered people better access to markets and institutions may enable them to acquire additional human capital, a condition necessary for continued sustainable economic growth (Black, 2002(Black, : 1160.…”

Section: Introductionmentioning

confidence: 99%

Corporate social responsibility: The performance of black economic empowerment (BEE) companies in a developing country after the global financial crisis

Wolmarans¹

2012

Afr. J. Bus. Manage.

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The aim of this study is to measure the medium term financial performance of companies who had previously shown their corporate social responsibility (CSR) by engaging in black economic empowerment (BEE) in a developing country. Performance was measured before, during and after the recent global financial crisis (GFC) that affected global markets, and more specifically the Johannesburg Stock Exchange (JSE), the only stock exchange in South Africa. Whereas a previous study tried to answer the question of whether the specific announcements of BEE transactions by listed companies on average increase shareholder wealth, this study focuses on the medium term performance of these companies. The focus is on the performance between 2 January, 2007 and 30 September, 2009 of companies who had previously engaged in BEE transactions during the period January 2002 to July 2006. The average performance of these companies is compared with the performance of the market index before, during and after the financial crisis. The results of this study could be important for all developing countries that need to address social inequities.

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Section: Introductionmentioning

confidence: 99%

Corporate social responsibility: The performance of black economic empowerment (BEE) companies in a developing country after the global financial crisis

Wolmarans¹

2012

Afr. J. Bus. Manage.

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“…Studying the impact of government policy on firm strategy is particularly important in the South African context: since 1994, firms in this country have had to deal with extensive institutional change aimed at redressing historical imbalances created under the Apartheid regime (Chabane, Goldstein & Roberts, 2006). Specifically, the post-Apartheid government has introduced a far-reaching black economic empowerment (BEE) policy aimed at increasing black participation in the economy (Black, 2002). Academic literature has studied the impact of BEE policy on mergers and acquisitions as well as investment returns (Jackson, Alessandri & Black, 2005;Strydom, Christison & Matias, 2009;Wolmarans & Sartorius, 2009).…”

Section: Introductionmentioning

confidence: 99%

The strategic implications of black empowerment policy in South Africa: a case study of boundary choice and client preferences in a small services firm

Boshoff

2012

SAJEMS

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This paper studies the relationship between a firm's boundary choices within its value chain and the BEE pressures it faces from its clients. The paper shows that BEE policy alters the value chain preferences of a firm's clients. These changes in client preferences motivate the firm to altering its boundaries. More important, boundary changes due to BEE are implemented in a way that ensures that the firm retains crucial architectural knowledge, which preserves its competitive advantage. Firms therefore do not respond passively to BEE-induced changes in client preferences, but aim to meet BEE aims within their broader strategic environment.

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“…In this regard, many firms have demonstrated their Corporate Social Responsibility (CSR) by selling part of their equity to black empowerment groups. BEE has been justified on an equity basis, as well as for economic reasons and giving previously disempowered people better access to markets and institutions may enable them to acquire additional human capital, a condition necessary for continued sustainable economic growth (Black, 2002(Black, :1160.…”

Section: Introductionmentioning

confidence: 99%

Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa

Wolmarans

Sartorius

2011

SAJEMS

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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.

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On the Case for “Black Economic Empowerment” in South Africa**

Cited by 9 publications

References 16 publications

Corporate social responsibility: The performance of black economic empowerment (BEE) companies in a developing country after the global financial crisis

Corporate social responsibility: The performance of black economic empowerment (BEE) companies in a developing country after the global financial crisis

The strategic implications of black empowerment policy in South Africa: a case study of boundary choice and client preferences in a small services firm

Corporate social responsibility: the financial impact of black economic empowerment transactions in South Africa

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