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The spate of failures and scandals in the basic materials sector in South Africa and globally bring into question not only the ethics of business leaders but primarily corporate governance and the role of boards in safeguarding the shareholders' wealth. The aim of the study was to ascertain the relationship between corporate governance and firm profitability of firms in the basic materials sector listed on the Johannesburg Stock Exchange. Five corporate governance characteristics are observed on two profitability measures, return on assets and return on equity and Tobin’s Q as the market indicator using a cross-sectional time-series panel data method of 54 firms in the basic materials sector listed on the JSE from 2017 to 2021. A regression analysis model is used to ascertain whether and to what degree a relationship exists between corporate governance and firm profitability within JSE-listed basic materials sector firms. The results show that corporate governance characteristics have a mixed impact on firm profitability, with some indicating a negative or no significant relationship, highlighting the complexity of this association. This study proves that if a firm chooses suitable corporate governance characteristics, the profitability of a firm can be enhanced. The outcome of this study should have implications for academic thoughts for further research on this subject and calls for a more concerted effort for boards to implement more prudent corporate governance mechanisms to future-proof the business of the basic materials sector.

Capital structure defined by the proportion of debt and equity financing has always been an important component in managerial finance due to its relative importance in measuring a company's risk. Arguably, it is among the most controversial topics in corporate finance and has gain recent recognition of its importance when considering the emergence of different sources of financing across industry. The purpose of this study was to explore the relationship between capital structure and a firm's profitability in other to determine whether a significant connection exists between how a firm finances its operations and its financial performance. A comprehensive Lilliefors’s, Kolmogorov Smirnov and Chi square tests analysis were utilised for a sample of 23 peer reviewed journal articles across various industries. The findings revealed that capital structure cannot be used to explain variations in profitability and profitability is independent of capital structure. This paper contributes to the ongoing debate on optimal capital structure by strengthening methodological rigor and some of the existing theories on how capital structure can be used to maximise profitability. It may be very helpful for further studies to first establish the direction of impact and the size effect of the independent variables.

The study examined the influence of board nationality diversity on shareholder value creation of non- financial companies listed on the JSE for a 10- year period from 2013 to 2022.The study used quantitative quasi-experimental research design. The study measured board nationality diversity using proportion of foreign directors on board, Blau index for board nationality diversity, dummy variables for one, two and three or foreign directors. The proxies of shareholder value creation included standard market value added, market- to book ratio and Tobin’s Q and fixed effects model based on linear and curvilinear models were used to test the hypotheses. Main findings of the study demonstrate that proportion of foreign directors on board has an insignificant negative impact on standardised market value added and Tobin’s Q, while significant negative impact on market to book ratio.  Blau index for board nationality diversity has insignificant negative impact on standardised market value added and market to book ratio, yet insignificant positive impact on Tobin’s Q. One foreign director on board has significant positive impact on standard market value added and market to book ratio, while insignificant positive impact on Tobin’s Q. Two and three foreign directors on board have insignificant positive impact on all shareholder value creation measures. In relation to curvilinear models, proportion of foreign directors on board and Blau in index for board nationality diversity have both positive and negative impact on all shareholder value creation measures highlighting an inverted U- shaped effects.

The article examined corporate governance's effects on the performance of cement-producing companies in Zambia. Assessing the performance of one of the manufacturing segments of the manufacturing industry because of the effects of corporate governance was detrimental to findings on why there is limited growth in the industry. The study specifically assessed the effects of board size, board independence, CEO duality, multiple directorships, and board tenure on the company's performance. A deductive approach strategy was used, which focused on four leading cement-producing companies in Zambia: Lafarge, Dangote, Sinoma, and Zambezi Portland. A sample population of 150 participants was targeted. Questionnaires collected primary and secondary data from the company’s audited reports. This study used the principal components analysis, correlation, and regression analysis using SPSS version 27. The study found and concluded a positive correlation and effect between multiple directorships and board independence on the company's performance. CEO duality positively impacted the company's performance, but it was not statistically significant. On the other hand, it was concluded and found that board tenure and board size had a negative effect on the company's performance. This implied that they had a reducing impact on the performance of the companies in the cement manufacturing industry. Cement companies should tailor the size of their boards to meet their unique requirements, even though board size and tenure have a negative and statistically significant effect on performance.

This research examined the influence of board tenure diversity (BTD) on shareholder value creation (SVC) among 95 non-financial companies listed in South Africa. A quantitative quasi-experimental research design was employed. The data collection sources included integrated annual reports, the Who Owns Whom database and the Osiris database. The study used a fixed effects model to test the hypotheses.  BTD  was measured using the Blau index (BI_BTD), average tenure (AVE_TBM), standard deviation (SD_TBM), and coefficient of variation for tenure board members (TBM), as well as dummies for short tenured boards  (AVE_TBM  3) and long tenured boards (AVE_TBM 10)  The proxies of SVC  included standard market value added (SMVA), market-to-book ratio (MTB) and Tobin’s Q (TBQ). The results of curvilinear quadratic models indicate that all BTD  measures had both positive and negative influences on all SVC measures, highlighting an inverted  U-shaped effect. The inverted U-shape effect reflects a trade-off between beneficial knowledge accumulation and harmful entrenchment or coordination problems as board tenure diversity increases beyond an optimal level. Given the inverted  U-shaped effect, many proposals for corporate governance reform explicitly stress the importance of limiting board tenure.

This research examined the influence of board tenure diversity (BTD) on shareholder value creation (SVC) among 95 non-financial companies listed in South Africa. A quantitative quasi-experimental research design was employed. The data collection sources included integrated annual reports, the Who Owns Whom database and the Osiris database. The study used a fixed effects model to test the hypotheses.  BTD  was measured using the Blau index (BI_BTD), average tenure (AVE_TBM), standard deviation (SD_TBM), and coefficient of variation for tenure board members (TBM), as well as dummies for short tenured boards  (AVE_TBM  3) and long tenured boards (AVE_TBM 10)  The proxies of SVC  included standard market value added (SMVA), market-to-book ratio (MTB) and Tobin’s Q (TBQ). The results of curvilinear quadratic models indicate that all BTD  measures had both positive and negative influences on all SVC measures, highlighting an inverted  U-shaped effect. The inverted U-shape effect reflects a trade-off between beneficial knowledge accumulation and harmful entrenchment or coordination problems as board tenure diversity increases beyond an optimal level. Given the inverted  U-shaped effect, many proposals for corporate governance reform explicitly stress the importance of limiting board tenure.

This study investigates the impact of the COVID-19 pandemic on executive remuneration structures within South African transportation companies listed on the Johannesburg Stock Exchange, while also examining shifts in the intangible components of remuneration offered to employees. Employing a predominantly quantitative research design, the study analyses remuneration data to evaluate structural changes post-pandemic. Additionally, a qualitative analysis was conducted on corporate disclosures to assess the evolving nature of intangible remuneration elements. The findings reveal a notable shift in remuneration composition, with a greater proportion of executive compensation attributed to variable elements such as bonuses and short-term incentives, accompanied by a relative decline in base salaries. Moreover, companies demonstrated increased sensitivity to employee well-being, adopting flexible work arrangements and prioritising health and safety. These outcomes suggest that the pandemic catalysed both structural and philosophical changes in remuneration practices. The study contributes to the existing body of knowledge by offering a sector-specific analysis of how global disruptions can reshape compensation frameworks, thereby informing future corporate governance and human resource strategies.

The spate of failures and scandals in the basic materials sector in South Africa and globally bring into question not only the ethics of business leaders but primarily corporate governance and the role of boards in safeguarding the shareholders' wealth. The aim of the study was to ascertain the relationship between corporate governance and firm profitability of firms in the basic materials sector listed on the Johannesburg Stock Exchange. Five corporate governance characteristics are observed on two profitability measures, return on assets and return on equity and Tobin’s Q as the market indicator using a cross-sectional time-series panel data method of 54 firms in the basic materials sector listed on the JSE from 2017 to 2021. A regression analysis model is used to ascertain whether and to what degree a relationship exists between corporate governance and firm profitability within JSE-listed basic materials sector firms. The results show that corporate governance characteristics have a mixed impact on firm profitability, with some indicating a negative or no significant relationship, highlighting the complexity of this association. This study proves that if a firm chooses suitable corporate governance characteristics, the profitability of a firm can be enhanced. The outcome of this study should have implications for academic thoughts for further research on this subject and calls for a more concerted effort for boards to implement more prudent corporate governance mechanisms to future-proof the business of the basic materials sector.

Capital structure defined by the proportion of debt and equity financing has always been an important component in managerial finance due to its relative importance in measuring a company's risk. Arguably, it is among the most controversial topics in corporate finance and has gain recent recognition of its importance when considering the emergence of different sources of financing across industry. The purpose of this study was to explore the relationship between capital structure and a firm's profitability in other to determine whether a significant connection exists between how a firm finances its operations and its financial performance. A comprehensive Lilliefors’s, Kolmogorov Smirnov and Chi square tests analysis were utilised for a sample of 23 peer reviewed journal articles across various industries. The findings revealed that capital structure cannot be used to explain variations in profitability and profitability is independent of capital structure. This paper contributes to the ongoing debate on optimal capital structure by strengthening methodological rigor and some of the existing theories on how capital structure can be used to maximise profitability. It may be very helpful for further studies to first establish the direction of impact and the size effect of the independent variables.

The study examined the influence of board nationality diversity on shareholder value creation of non- financial companies listed on the JSE for a 10- year period from 2013 to 2022.The study used quantitative quasi-experimental research design. The study measured board nationality diversity using proportion of foreign directors on board, Blau index for board nationality diversity, dummy variables for one, two and three or foreign directors. The proxies of shareholder value creation included standard market value added, market- to book ratio and Tobin’s Q and fixed effects model based on linear and curvilinear models were used to test the hypotheses. Main findings of the study demonstrate that proportion of foreign directors on board has an insignificant negative impact on standardised market value added and Tobin’s Q, while significant negative impact on market to book ratio.  Blau index for board nationality diversity has insignificant negative impact on standardised market value added and market to book ratio, yet insignificant positive impact on Tobin’s Q. One foreign director on board has significant positive impact on standard market value added and market to book ratio, while insignificant positive impact on Tobin’s Q. Two and three foreign directors on board have insignificant positive impact on all shareholder value creation measures. In relation to curvilinear models, proportion of foreign directors on board and Blau in index for board nationality diversity have both positive and negative impact on all shareholder value creation measures highlighting an inverted U- shaped effects.