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The comparative financial and stock market performances of South African diversified companies

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dc.contributor.author Child RG en
dc.date.accessioned 2016-09-22T09:16:48Z
dc.date.available 2016-09-22T09:16:48Z
dc.date.submitted 1980 en
dc.identifier.uri http://hdl.handle.net/20.500.11892/52786
dc.description.abstract Investigates the concept of diversification and diversified South African industrial companies. An overview of the background, reasons for and types of diversification and the consequent development of a more conceptual framework for diversification is given. A review of existing empirical testing is carried out and the conclusion made that diversification has not been a very successful strategy in the United States but in certain circumstances it appeared to do better in South Africa. A research methodology is developed to correct the lack of a simultaneous risk and return analysis tool. Testing of the economic efficiency the concern for shareholder returns, and various growth and stability criteria is carried out within the framework of the methodology. The Conglomerate firms in South Africa are found to be more efficient than the average firm. In contrast, the other highly diversified category, the Unrelated Passive firms, are seen to be inefficient and to produce inconsistent performances. The stock market performance of the various categories is also tested. The stock market performance of highly diversified firms in single industry sectors is evaluated. No strong result is evident the diversified companies outperformed the sectors sixty percent of the time. The overall conclusion is that diversification is likely to be a successful strategy in South Africa, in terms of operating results, if the company is large enough and has adequate management depth. en
dc.language English en
dc.subject Business administration / Business leadership en
dc.subject Management economics en
dc.title The comparative financial and stock market performances of South African diversified companies en
dc.type Masters degree en
dc.description.degree MBA en

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