Suchergebnisse

The study examined whether Johannesburg Stock Exchange (JSE Ltd) delisted companies used impression management in the chairman's statements and audit committee's reports preceding delisting from 2016 to 2021. There is a concerning trend of delisting from JSE, which may be voluntary or compulsory. The chairman's statement is highly ranked as the most read voluntary narrative disclosure statement. Furthermore, as assurance providers and governance structure, the audit committee is expected to assure the organisation as a whole. The study uses quantitative content analysis on integrated reports of the JSE-delisted companies from 2016 to 2021. Impression management is examined for length, use of passive voice, and the use of personal references in the chairman's statement and audit committee report. The study examined and provided insight into impression management practices used by delisted companies and ascertains whether there is a systematic difference in the use of impression management between profitable and unprofitable in the year preceding delisting. The study shows that delisted companies used impression management on the verge of delisting and this opportunistic behavior was used by both boards of directors and audit committees. This study contributes to the novelty of knowledge on impression management. It is the first of its kind.

In South Africa, the devastating effects of the COVID-19 plague forced several corporates to resort to business rescue proceedings to guarantee the continuance of their operations. However, the low success rates associated with the current South African business rescue regime are a thing of concern among policymakers. In this article, we conduct a systematic literature review highlighting the shortcomings of the current South African business rescue mechanism and recommendations that can be adopted to improve its success rates. The study then proposes a broad agenda for future research. We discover that even though the South African business rescue mechanism is an economically significant, promising framework that gives companies time and space to find solutions for their problems, it is associated with numerous shortcomings that lessen its success rates. Also, the study results indicate that the regime can be improved in more than a few dimensions to augment its success rates. Further, the review divulges that implementing the current South African business rescue framework has some uncharted areas that need to be investigated. As a recommendation, policymakers should improve the business rescue regime to increase its success rates.