Scielo RSS <![CDATA[South African Journal of Economic and Management Sciences ]]> vol. 15 num. 4 lang. es <![CDATA[SciELO Logo]]> <![CDATA[<b>Entrepreneurial attributes of undergraduate business students</b>: <b>a three country comparison revisited</b>]]> In 2001/2002 a study was undertaken to establish whether significant differences existed between the levels of development of several entrepreneurial attributes, as perceived by undergraduate business students from three universities in three different countries. The rationale was that, if entrepreneurial attributes could be identified as more developed in one country than in another, solutions could be provided for developing these attributes in others. The primary objective of this study is to investigate and compare the levels of development of entrepreneurial attributes of undergraduate business students in the present study (2010) to the levels of development reported by undergraduate business students in the 2001/2002 study. Cronbach alpha coefficients were calculated to assess the reliability of the measuring instrument and t-tests to establish significant differences. Cohen's d statistics were calculated to establish practical significance. The findings suggest that the educational environment and entrepreneurship education policy of the Dutch university participating in this study could provide solutions as to how entrepreneurial attributes among students could be developed further. <![CDATA[<b>Tracking the venture creation phases in terms of entrepreneurial self-efficacy</b>: <b>links to competitiveness of South African ventures</b>]]> Examining entrepreneurial self-efficacy across venture creation phases is important as research indicates that behaviours to which self-efficacy corresponds are largely concerned with new-venture formation processes and as such are required of entrepreneurs well beyond the point of founding. Hypotheses are formulated, which take into account the sequential nature of entrepreneurial tasks in the venture process. A multidimensional instrument is used to collect data from medium businesses (n = 199). Correlational and regression analysis are performed where empirical evidence supports that entrepreneurial self-efficacy during searching, planning, marshalling resources and implementing people phases of venturing are significantly associated with the competitiveness of the venture. Implications of this study can be advanced to the policy domain where it needs to be stressed that government initiatives will affect venture sustainability only if these policies are conceived in a way that influences entrepreneurial self-efficacy. <![CDATA[<b>Gender differences in student attitudes towards sexual appeals in print advertising</b>]]> Sexuality is a widely used appeal in advertising today. The aim of this research was to establish whether or not this form of advertising connects with South African students and whether gender differences existed. A triangulated research design with data collected in focus groups, was used. The findings generally indicated negative attitudes towards sexual appeals in advertising. The main difference in gender responses was that males responded more negatively to adverts that contained male models as opposed to female models, whereas, women responded in similar ways regardless of the gender of the model. <![CDATA[<b>Does personality matter for small business success?</b>]]> Personality traits influence occupational choice and are valid predictors of managerial success. The primary objective of this study was to investigate whether a relationship exists between possessing certain personality traits and small business success. The personality dimensions of the five-factor model of personality, Extraversion, Conscientiousness, Openness to experience, Agreeableness and Neuroticism were the focus of this study. Convenience sampling was employed and 383 usable questionnaires were returned. The validity and reliability of the measuring instrument was assessed. Multiple regression analysis was undertaken to establish relationships between the independent variable (the five dimensions of personality) and the dependent variable, Business success. The findings of this study show that individuals who have high levels of the personality traits Extraversion, Conscientiousness and Openness to experience are more likely to have successful small businesses. Openness to experience is of specific importance as it demonstrates the strongest influence, and is the only trait that has a positive influence on both the financial and growth performance of the business. As such, insights are provided into the personality profile most suited to successful small-business ownership. <![CDATA[<b>Exploring coping strategies of business leaders during an economic downturn</b>]]> As a large part of South Africa's economy is based on the mining industry, this research focused on exploring the coping strategies of business leaders in the mining industry during an economic downturn. Using qualitative research within a constructivist-interpretive paradigm, the researchers sought a deeper understanding of how mining leaders cope during an economic downturn. A purposive sample of seven executive mining leaders of different mining houses was interviewed and data was analysed using Atlas.ti. A conceptual framework for understanding coping strategies at the individual, group and organisational levels for business leaders during an economic downturn was developed and is discussed here. This study contributed to theory and practice by focusing on coping responses to specific situations within a specific context instead of on general coping strategies. <![CDATA[<b>The relative importance of financial ratios in creating shareholders' wealth</b>]]> The purpose of the study is firstly to use Data Envelopment Analysis (DEA) to aggregate the overall performance (technical efficiency) of firms to convert scarce resources into outputs that create wealth for shareholders, and secondly, to determine the degree to which this mentioned performance is reflected in a number of profitability and market value ratios. Annual financial statement data were used for 55 manufacturing companies listed on the JSE Limited over a five-year period in a cross-sectional analysis. The study found that return on equity has the most significant relationship with technical efficiency, followed by return on assets. The market value ratios price/earnings and dividend yield have no significant relationship with technical efficiency. The value of this study is that it is the first of its kind where technical efficiency, which aggregated operating, profitability and marketability efficiencies, is used to determine the relative importance of not only the readily available profitability ratios, but also market value ratios. <![CDATA[<b>The impact of Socially Responsible Investment Index constituent announcements on firm price</b>: <b>evidence from the JSE</b>]]> This paper examines whether Socially Responsible Investment (SRI) Index constituent announcements have any impact on the returns of firms listing on the JSE SRI Index. The event study methodology is utilised to estimate abnormal returns for the firms included in the Index. The results indicate insignificant average abnormal returns (AARs) for the years 2004, 2006, 2007, 2008 and 2009, suggesting no significant shareholder gains over the entire event window. However, the year 2005 is associated with positive and significant abnormal returns. Post announcement cumulative average abnormal returns (CAARs) are positive for the years 2005 and 2007. However, the year 2008 exhibited extreme swings in CAARs with a general declining trend in the latter part of the event window. These swings are attributed to the global financial crisis of 2008. Furthermore, the cumulative returns for the total sample show no clear outperformance of the SRI over the JSE All Share Index. <![CDATA[<b>Empirical study of national technological innovation capability in Africa</b>]]> This paper performs an analysis of the technological innovation capability in 30 African countries. Based on the literature about national innovation capability and economy of technological change, an empirical study has been performed by using clusters' analysis technique and the technological innovation indicators published in the Global Competitiveness Report 2010-2011 (WEF, 2010). The purpose is to explore the existence of groups of countries characterised by different technological innovation levels, deepening in their characteristics and the distance that separates them. The results show the existence of four groups of countries defined by different technological innovation capabilities in three factors, which are the Governmental and business technological effort, the Technological infrastructure and human capital (Available Base) and the Protection of intellectual property and innovation results.