Behavioural finance involves a study of the process and influence of human aspects in decision-making and how they influence markets. The core principle of behavioural research in various disciplines is a focus on identifying the ways in which behaviour differs from a normative framework, and...

Investors who invest on the Johannesburg Securities Exchange (JSE) base their investment decisions on information obtained from the financial press, radio and television or from a broker or investment consultant. The purpose of the study is to test the hypothesis that an individual using...

This study aimed to address issues of shareholder value creation. The EVA model of value creation was used in this study as it is arguably one of the best methods to express and quantify shareholder value creation. As a starting point, EVA was quot;dissectedquot; into various building blocks or...

In determining the feasibility of projects where capital investments are concerned, various methods are used. The focus of these methods is on return per se, so it is often asked to what extent any of these methods take the risk concept into account.The main objective of this study was to...

During recent years many opportunities arose for companies because international trade restrictions were lifted. As international markets became more accessible to local manufacturers, the degree of competition increased tremendously, resulting in a revaluation of the way business is conducted...

It is widely accepted that the primary objective or goal of a firm is to maximise the shareholders' equity. While there may be legitimate differences of opinion as to whether this is the sole motivation of a firm's management, it should without a doubt be a dominant variable in management's...

The development and growth of the listed firm during the past decades caused an ever widening and more complex gap between ownership and management. Agency theory addresses this relationship between the owners (shareholders) and the custodians of their wealth, the management of the firm. If...

This article examines introducing Economic Value Added (EVA) as a performance measure for wine cooperatives in South Africa to determine whether member's value have been created. After a thorough explanation and calculation of the components of EVA, the EVA of a number of co-operatives were...

The profitability measures have limitations for examining wealth creation. Economic Value Added (EVA) is being used by businesses to measure wealth creation. EVA has some advantages over other financial ratios because it fully accounts for the resources used by co-operatives and it includes both...