Endogeneity in Interlocks and Performance Analysis: A Firm Size Perspective

This paper contributes to the literature on interlocking directorates (ID) by providing a new solution to the two econometric issues arising in the joint analysis of interlocks and firm performance which are the endogenous nature of ID and sample selection bias due to the exclusion of isolated firms. Some key determinants of ID network formation are identified and used to check for endogeneity. We analyze the impact of the positioning in the network on firms’ performance and inspect how the impact varies across firms of different sizes drawing on information relating to 37,324 firms in the interlocking network which, to our knowledge, is the widest dataset ever used in approaching the study of ID. Our results, made robust for endogeneity and sample selection bias, suggest that eigenvector centrality and the clustering coefficient have a positive and significant impact on all the performance measures and that this effect is more pronounced for small firms

Social Capital, Networks and Interlocking Directorates: A Mexican Case

Purpose ? This paper investigates whether a pattern of interlocking directorates is emerging following reforms in Mexican corporations, and who, if any, are the powerful actors in this network. Drawing on the Bourdieusian notion of social capital, the paper also analyses theoretically the interlocking directorates, networks and powerful actors, and their influences on and potential implications for corporate governance mechanisms. Design/methodology/approach ? The data used in the study consisted of 1,442 internal and external board members of the population of 126 Mexican corporations trading on the Mexican Stock Market as of January 2011. Use of social network analysis (SNA) demonstrates individuals? links with corporations and allows the production of spatial maps to visualise the network structure of interlocking boards. Findings ? Using the measures of SNA developed by Freeman (1979), we identify the most powerful and influential directors in the network structure of board members in Mexico. Board members with the greatest number of connections occupy central positions in the network. We also find a catalogue of corporate governance scandals. The inclusion of independent directors seems to have had no influence in ensuring better corporate governance. Research limitations/implications ? Mapping out the directors? links might offer excellent opportunities for policy makers to see how many companies a single director represents, how they share boards, and the implications for minority shareholders of sharing boards, and to understand the workloads of directors in carrying out the monitoring tasks expected of them. Originality/value ? This paper makes an important contribution by employing SNA to illustrate interlocking directorates and the positions of powerful and influential actors. Examining networks of directors from a ?social capital? point of view also provides an understanding of why the role of independent directors remains toothless in family-dominated corporations

Corporate, Social, and Political Networks of Koch Industries Inc. and TD Ameritrade Holding Corporation: Extension to the State of Nebraska

The importance of interlocking board directorships among corporations and between corporations and social organizations has been confirmed for defining the modern political economy. This paper finds the networks of those interlocks for Koch Industries Inc. and TD Ameritrade Holding Corporation and extends the networks to describe and analyze the accompanying political network of contributions to Nebraska political campaigns. For corporate and social networks, conventional theoretical structures are utilized to find the new database of those networks for Koch Industries and TD Ameritrade. The new theoretical structure and database discovered in the research is for the campaign contributions of the board directors in the corporate and social networks, as they are traced to campaigns for federal offices (see columns I, J, K and L of Figure 3 and Tables 1 and 2). The new political campaign finance structure discovered here includes thousands of interconnected campaign finance conduits through which money flows to political campaigns. JEL Codes: B52, D72, Z1

Social networks and regional economic development: The Los Angeles and Bay Area metropolitan regions, 1980–2010

Social capital is widely recognized as an important aspect of regional economies, and social networks in particular have recently been the focus of research in economic sociology and economic geography. Building on this body of work, this research explores the role of social networks in the divergent economic fortunes of two highly advance Californian metropolitan regions over the past three decades, Los Angeles and the Bay Area. Proxies for the two regions’ industrial social structures are constructed and analysed at three cross sections over the divergence period: 1982, 1995 and 2010. Network analysis shows that the Bay Area’s industrial social structure maintains a high level of connectivity, bridging relations across industrial boundaries, and by 2010 has a highly connected and central business-civic organization, the Bay Area Council. The LA region’s social structure, on the other hand, fragments substantially over the period

Winning virtuous strategy creation by interlocking interconnecting directors in boards of directors in firms in information century

The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of directors, and show that there are the interlocking directors networks in the boards of directors in a big number of firms. Researching the strategic governance of firms, we highlight a fact that the director makes the information sensing, filtering, processing, resonant absorption, analysis, decision making, hence it can be empirically represented as a digital signal processor with the Harvard or von Neumann director’s mindset architectures. We think that the board of directors can be theoretically represented as the electronically-scanned electronically-steered phased array radar with a certain number of active antenna elements, filters banks, digital signal processors, memory chipsets in agreement with the digital signal processing and business administration sciences. Using the theoretical assumptions, we formulate the Ledenyov theory on the winning virtuous strategies creation by the interlocking interconnecting directors in the boards of directors in the firms. We suggest that 1) the transmitted information data-stream measurements, 2) the information bit error rate measurements have to be used to accurately characterize the interlocking interlinking interconnecting directors networks in addition to the well known parameters such as the director’s boards seats accumulation number, centrality, Freeman degree, Betweenness. We believe that the positive and negative feedback loops can quite possibly lead to the destructive coordination among the directors by eliminating the randomness element and by introducing the greater uniformity in the pursuing business strategies. We developed the MicroID software program to compute the probability number of the additional directorship mandates issues

Winning virtuous strategy creation by interlocking interconnecting directors in boards of directors in firms in information century

The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of directors, and show that there are the interlocking directors networks in the boards of directors in a big number of firms. Researching the strategic governance of firms, we highlight a fact that the director makes the information sensing, filtering, processing, resonant absorption, analysis, decision making, hence it can be empirically represented as a digital signal processor with the Harvard or von Neumann director’s mindset architectures. We think that the board of directors can be theoretically represented as the electronically-scanned electronically-steered phased array radar with a certain number of active antenna elements, filters banks, digital signal processors, memory chipsets in agreement with the digital signal processing and business administration sciences. Using the theoretical assumptions, we formulate the Ledenyov theory on the winning virtuous strategies creation by the interlocking interconnecting directors in the boards of directors in the firms. We suggest that 1) the transmitted information data-stream measurements, 2) the information bit error rate measurements have to be used to accurately characterize the interlocking interlinking interconnecting directors networks in addition to the well known parameters such as the director’s boards seats accumulation number, centrality, Freeman degree, Betweenness. We believe that the positive and negative feedback loops can quite possibly lead to the destructive coordination among the directors by eliminating the randomness element and by introducing the greater uniformity in the pursuing business strategies. We developed the MicroID software program to compute the probability number of the additional directorship mandates issues

Winning virtuous strategy creation by interlocking interconnecting directors in boards of directors in firms in information century

The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of directors, and show that there are the interlocking directors networks in the boards of directors in a big number of firms. Researching the strategic governance of firms, we highlight a fact that the director makes the information sensing, filtering, processing, resonant absorption, analysis, decision making, hence it can be empirically represented as a digital signal processor with the Harvard or von Neumann director’s mindset architectures. We think that the board of directors can be theoretically represented as the electronically-scanned electronically-steered phased array radar with a certain number of active antenna elements, filters banks, digital signal processors, memory chipsets in agreement with the digital signal processing and business administration sciences. Using the theoretical assumptions, we formulate the Ledenyov theory on the winning virtuous strategies creation by the interlocking interconnecting directors in the boards of directors in the firms. We suggest that 1) the transmitted information data-stream measurements, 2) the information bit error rate measurements have to be used to accurately characterize the interlocking interlinking interconnecting directors networks in addition to the well known parameters such as the director’s boards seats accumulation number, centrality, Freeman degree, Betweenness. We believe that the positive and negative feedback loops can quite possibly lead to the destructive coordination among the directors by eliminating the randomness element and by introducing the greater uniformity in the pursuing business strategies. We developed the MicroID software program to compute the probability number of the additional directorship mandates issues

Three Essays on Corporate Governance and Politically Connected Firms

In this dissertation three essays on corporate governance and politically connected firms are presented. The first essay “Interlocked Boards of Directors, Corporate Governance and Earnings Quality” studies the effects of interlocked boards of directors on voluntary governance disclosures, governance practices and earnings quality. The Canadian environment, where director interlocks are prevalent, is examined. A checklist of twenty voluntary disclosure measures from proxy statements is developed and a direct measure of interlocking directorships is employed. It is found that interlocked boards of directors are negatively associated with voluntary governance disclosures and positively associated with earnings quality. From an accounting perspective, greater earnings quality provides evidence that regulator rules and policies limiting interlocks may be unnecessary. Research has shown that firms can benefit when they are politically connected. The extant literature has shown that politically connected firms benefit from procurement contracts, reduced regulatory issues and lower costs of capital. However, with more politicians joining corporate boards, the effect of political connectedness on corporate governance remains unclear. The second essay is entitled “Politically Connected Directors and Corporate Governance”, and it examines the association between politically connected directors and corporate governance. A sample of high ranking politicians that have joined firm boards of directors is examined. I find that firms with politician directors have higher corporate governance scores. Additional tests also indicate that an addition of a politician to a board of directors increases the governance quality. The extant literature has also demonstrated that both political connections and cross-listing can benefit firms in various aspects, such as superior stock returns and a lower cost of capital. The third paper, entitled “The Value of Political Connections for Cross-Listed Firms”, examines whether cross-listed firms can obtain incremental financial benefits by also being politically connected. 142 Canadian cross-listed firms are examined to determine the extent of their political connections and to assess whether any incremental benefits are gained in politically connected cross-listed firms. The results show that politically connected cross-listed firms have higher analyst following, higher market valuations and greater market liquidity

The nature, the extent and possible implications of director interlock in South African listed companies

Recently, corporate scandals rocked the South African financial landscape, prompting the re-examination of existing corporate governance practices and renewed scrutiny of corporate governance institutions and mechanisms. One of these practices, a phenomenon called “director interlock”, was scrutinised in this study. A quantitative and inductive approach was used in this research to scrutinise companies listed on the Johannesburg Stock Exchange, as well as the directors who served on their boards during the periods researched, namely, 2010 and 2016, with the purpose of considering the consequences of director interlock in a South African context. Appropriate sources on corporate governance, director interlock and network analysis were accessed. Social network analysis was applied to analyse and map the extent, nature and structural dynamics of director interlock statistically in all South African listed companies in respect of 2010 and 2016 with a view to considering the causes and consequences of identified changes between 2010 and 2016, and possible implications of those changes for corporate governance in South Africa. Both periods occurred shortly after times of financial turmoil or contracting economic growth, where, in line with global trends, financial consolidation and a possible decline in economic activity and board sizes of companies would be expected. The concept of centrality, comprising three components, was used in the statistical social network analysis. These components were degree centrality, which is an indicator of the number of connections and the degree of activity of a company or a director, closeness centrality, which is an indicator of the closeness of a company or a director to other companies or directors within a network and the number of steps from that company or director to other companies and directors in the network, and betweenness centrality, which is a measure of the centrality of a company or a director and the extent to which the company or the director acts as a bridge between and connects with other well-connected companies and directors in the network. The following striking findings emerged from this research: a massive increase in the average board size between 2010 and 2016, a resultant increase in the density of networks between 2010 and 2016, and an apparent shift away from the dominance of mining houses described in earlier studies to financial services companies in 2010 and retail companies in 2016. In the literature review the existence of a global elite in the structure of company boards was pointed out, and the question was asked whether there is any evidence of the existence of a similar elite in South Africa and, if so, whether there have been any changes in the makeup, characteristics or nature of such an elite from 2010 to 2016. Further, the question was asked whether any changes can be observed regarding the central actors of company boards in the local economic power network. The research results indicate that iii there was an apparent reversal of transformational gains towards the re-establishment of white male dominance in the ultra-elite echelons of directors in the South African network by 2016. In the absence of conclusive evidence emanating from this research, the value of director interlock is still hotly debated. Is the practice of director interlock beneficial or damaging to corporations and the wider economic landscape, or could it be both beneficial and damaging? This study provides conclusive evidence that the value of interlock depends on the way in which it is applied, taking into account how the causes, consequences and dynamics of director interlock are manifested in individual companies. While evidence suggests that director interlock, if applied correctly, can be beneficial, the recent Steinhoff debacle was used to illustrate that it can also be detrimental, depending on how it is applied. This study emphasised the value of social network theory, resource-dependence theory, agency theory, small-world theory and power dynamics, specifically in research into corporate governance and related fields of study. This research undoubtedly contributes to the body of knowledge on corporate governance in general and the structure and functioning of company boards, inclusive of director interlock, in particular. The guidelines that emerged from this study could be used to identify board structures and strategically positioned directorship candidates for board appointments and to avoid potentially destructive patterns that may even lead to corporate failure.Maduzane nje, kuvele amahlazo ezinkampani ezinkulu zezezimali eNingizimu Afrika, lokhu okwenze ukuthi kuhlolwe kabusha inqubo nenkambiso yamanje yolawulo lwezinkanpani ezinkulu, kanti futhi lokhu kwavuselela ukuhlaziywa kwezikhungo zezolawulo lwezinkampani ezinkulu kanye nezindlela zokwenza lokhu. Enye yalezi zinkambiso, ukuhlala nokungenelelana kwabantu kumabhodi ezinkampani ezehlukene okuyinto ebizwa ngokuthi yi-"director interlock" iye yahlolisiswa kulolu cwaningo. Kusetshenziswe inqubo ye-quantitative ne-inductive kulolu cwaningo ukuhlolisisa izinkampani ezifakelwe kuhla lwe-Johannesburg Stock Exchange, kanye nodayirektha abakumabhodi azo ngesikhathi sokwenziwa kocwaningo, okusho ukusukela ngo 2010 ukuya kua 2016, ngenhloso yokubhekisisa imiphumela yenqubo yodayirektha abahlala kumabhodi amaningi ehlukene i-director interlock kwisimo seNingizimu Afrika. Kuye kwatholwa imithombo yolawulo iv lwezinkampani, inqubo ye-director interlock kanye nokuhlaziya ukuxhumana okwaziwa njenge-network analysis. Uhlaziyo lwama-network okuxhumana kwabantu kwe-social network analysis kwasetshenziswa ukuhlaziya kanye nokubheka ukujula nokwenza imephu yenhlobo kanye nobudlelwane bezakhiwo kunqubo ye-director interlock, namastatistiki kuzo zonke izinkampani ezifakelwe kuhla zaseNingizimu Afrika ngesikhathi esiphakathi kuka 2010 no 2016 ngenhloso yokubheka izimbangela kanye nemiphumela yezinguquko ezibhekiwe phakathi kuka 2010 no 2016, kanye nemphumela yalezi zinguquko kwinqubo yolawula lwezinkampani eNingizimu Afrika. Zombili izinkathi zenzeke maduzane ngemuva kweziyaluyalu zezezimali nokuncipha kwesimo somnotho, laphokhona, ngokuhambisana nobekwenzeka kuwo wonke umhlaba, kuye kwaba nokuqoqana kwesimo sezezimali kanye nokwehla kwezimo zomnotho kanye nosayizi bamabhodi ezinkampani okwakulindelwe. Umqondo wokuqoqela ndawonye, onemikhakha emithathu, wasetshenziswa ekuhlaziyweni kwamastatistiki okuxhumana kwabantu okwaziwa nge-statistical social network analysis. Le mikhakha kwakuyizinga lokuqoqana ndawonye okwaziwa nge-degree of centrality, okuyinkomba yamanani okuxhumana kwezinto kanye namazinga emisebenzi yenkanpani noma udayirektha, ukusondelana qokuqoqana ndawonye okwaziwa ngokuthi yi-closeness centrality, okuyinkamba yokusondelana kwenkampani noma udayirektha nezinye izinkampani noma abanye odayirektha kwi-network, kanye nenani lezinyathelo kuleyo nkampani noma udayirekha kwezinye izinkampani kanye nabanye odayirektha kwi-network, kanye nanokuxhumana phakathi kwabo, okuyisikali sokuxhumana kwenkampani noma udayirektha, nezinga lendlela inkampani noma udayirekha athatha ngalo izinyathelo njengomxhumanisi phakathi kokuxhumana nezinye izinkampani kanye nabanye odayirektha kwi-network. Imiphumela eyisimanga etholakele ngalolu cwaningo: kuye kwaba nokwenyuka kakhulu kosayizi bamabhodi esikhathini esiphakathi kuka 2010 no 2016, lokhu okubangele ukwenyuka kokujula kwama-network phakathi kuka 2010 no 2016, kanye nokugudluka ukusukela kubukhulu bezimayini ukuya kwizinkampani zezezimali ngo 2010 kanye nezinkampani zama-retail ngonyaka ka 2016. Ekubuyekezweni kwemibhalo ubukhona bama-elite kumhlaba wonkana kwizakhiwo zamabhodi kuye kwabona, kanti umbuzo owabuzwa ukuthi ngabe bukhona ubufakazi bobukhona bama-elite efanayo eNingizimu Afrika, uma kunjalo, ngabe kube khona ushintsho ngendlela ahleleke ngayo, ubunjalo noma inhlobo yalawo ma-elite ukusukela ngo 2010 ukuya ku 2016. Omunye umbuzo, owabuzwa, wukuthi ngabe noma yiziphi izinguquko ziyabonakala yini mayelana nababambiqhaza ababalulekile kumabhodi ezinkampani kuma-network anamandla kwezomnotho. Imiphumela yocwaningo ikhombisa ukuthi kwabanokuhlehla ngokuzuziwe kwezezinguquko, kwabuyelwa emuva ekubuseni kakhulu kwabesilisa abamhlophe v kwimikhakha ephezulu yama-elite odayirektha kuma-network aseNingizimu Afrika ngo 2016. Ngokusweleka kobufakazi obuphethakele obuvela kulolu cwaningo, ukubaluleka kwe-director interlock kusaxoxwa ngakho kakhulu. Ngabe i-director intelock inenzuzo noma ilimaza izinkampani kanye nesimo somnotho ngokunabile, noma kungenzeka ukuthi kwenzeka kokubili, ukubanenzuzo kanye nokulimaza? Lolu cwaningo luhlinzeka ngobufakazi obuphelele bokuthi ukubaluleka kwe-director interlock kuncike kwindlela okusetshenziswa ngayo, ngokubonelela izimbangela, imiphumela emibi kanye nama-dynamic endlela i-directoer interlock ebonakala nokuvela ngayo ezinkampanini ezehlukene. Ngisho noma ubufakazi bukhombisa ukuthi i-director intelock, uma isetshenziswa kahle, ingaba yinzuzo, kodwa ihlazo lamaduzane le-Steinhoff lisetshenziswe ukukhombisa ukuthi, lokhu kungaba ngokulimazayo, kuncike ngokuthi kusetshenziswa kanjani. Lolu cwaningo lukhombise ukubaluleka kwe-social network theory (ithiyori yobudlelwane bokuxhumana kanye nokwabelana ngolwazi), i-resource-dependence theory (ithiyori yokuthi ngabe imithombo yosizo yangaphandle ichapha0zela kanjani ukuziphatha kwenhlangano), i-agency theory (ithiyori yobudlelwane phakathi kwama-ejenti kanye nabaphathi), small-world theory (ithiyori yokuxhumana kwabantu bexhunyaniswa ngabanye noma eminye imikhakha yabaxhumanisi) kanye nama-power dynamic (ndlela amandla umuntu anawo nokuba nomthelela kwabanye abantu nokuchaphazela ubudlelwane babo), ikakhulukazi kucwaningo ngokulawulwa kwezinkampani ezinkulu kanye nemikhakha ehambelanayo yocwaningo. Ngaphandle kokungabaza, lolu cwaningo lunomthelela kwingqikthi yolwazi ngezolawulo lwezinkampani ezinkulu ngokunabile kanye nezakhiwo nokusebenza kwamabhodi ezinkampani, okubandakanya ukukungenelelana kodayirektha kwamanye amabhodi ezinye izinkampani, ikakhulukazi. Imikhombandlela evelile kulolu cwaningo ingasetshenziswa ukuphawula izakhiwo zamabhodi, kanye nobudayirektha obusemkhakheni ethize, ngokuqokwa kwamabhodi ukugwema ukuba namaphatheni anemiphumela emibi, engaholela nasekwehlulekeni kwezinkampani ezinkulu. Amagama abalulekile: Inqubo yebhodi, ukuchaphazelana kobudlelwane nemithelela kumabhodi, ukuhleleka ngezinhlobo kwamabhodi, ukungenelelana kwabantu kumabhodi ezinkampani ezehlukene, ubudlelwane phakathi kwabantu abakumabhodi ehlukene, i-isomorphism, i-social network analysis (SNA), ama-network obudlelwane babantu, ubudlelwane babantu, i-social network analysis software, i-statistical analysis system (SASMalobanyana, mahlabišadihlong a koporase a wetše tikologo ya ditšhelete ya Afrika Borwa, yeo e hlohleletšago go sekwasekwa leboelela ga ditlwaedi tša pušo ya dikgwebo le nyakišišo ye e mpshafaditšweng ya mekgwa ya diinstitšhušene tša pušo ya koporase. Se sengwe sa ditlwaedi tše, ke ponagalo ya go bitšwa “tlhatlaganyo ya molaodi”, mahlabišadihlong a nyakišišitšwe ka nyakišišong ye. Mokgwa wa khwalithethifi le taelo o šomišitšwe ka gare ga nyakišišo ye go nyakišiša dikhamphani tše di ngwadilwego lenaneong la Johannesburg Stock Exchange, le balaodi bao ba šomilego dibotong tša yona dinakong tše di nyakišišitšwego, e lego 2010 le 2016, ka morero wa go šetša ditlamorago tša tlhatlaganyo ya molaodi mo maemong a Afrika Borwa. Methopo ya maleba mabapi le pušo ya koporase, tlhatlaganyo ya molaodi le tshekatsheko di fihleletšwe. Tshekatsheko ya neteweke ya leago e dirišitšwe go sekaseka le go beakanya bogomo, tlhago le diphetogo tša sebopego tša tlhatlaganyo ya molaodi ka dipalopalo ka gare ga dikhamphani tša Afrika Borwa ka moka tše di ngwadilwego lenaneong mabapi le 2010 le 2016 ka kgopolo ya go ela hloko ditlholo le ditlamorago tša diphetogo tše di hlaotšwego gare ga 2010 le 2016, le dikhuetšo tše di kgonegang tša diphetogo tšeo tša pušo ya koporase ka Afrika Borwa. Dinako ka bobedi di diragetše kgauswinyana morago ga dinako tša mathata a ditšhelete goba kgolo ya ikonomi ye e phuhlamago, fao, ka go sepetšana le mekgwa ya lefase ka bophara, kopantšho ya ditšhelete le kgonagalo ya phokotšego ya ditiro tša ikonomi le bogolo bja diboto tša dikhamphani di tla letelwa. Kgopolo ya bogare, ya go bopša ka dikarolo tše tharo, e šomišitšwe ka tshekatshekong ya neteweke ya leago ya dipalopalo. Dikarolo tše e be e le bogare bja bogolo, tšeo e lego taetšo ya palo ya dikgokagano le bogolo bja tiro ya khamphani goba molaodi go dikhamphani tše dingwe ka gare ga neteweke, le bogare bja kelo, tšeo e lego kelo ya bogare bja khamphani goba molaodi le bokgole bjoo khamphani goba molaodi a šoma bjalo ka leporogo mo gare le go kgokagana le dikhamphani tše dingwe tše di nago le kgokagano ye botse le balaodi ka gare ga neteweke. Dikutullo tše di latelago tša go goga šedi di tšweletše go tšwa nyakišišong ye: koketšego ye kgolokgolo ya bogolo bja boto bja palo gare ga 2010 le 2016, koketšego ye e hlotšwego ka pitlaganong ya dineteweke gare ga 2010 le 2016, le tšhutišo ya go hlaka go tšwa go taolo ya dintlo tša moepo tše di hlalositšwego ka dinyakišišong tša pele go dikhamphani tša ditirelo tša ditšhelete ka 2010 le dikhamphani tša retheile ka 2016. Ka tshekatshekong ya dingwalo go ba gona ga bahuetši ba lefase ka sebopegong sa diboto tša khamphani di laeditšwe, gomme potšišo e botšišitšwe ge eba go na le bohlatse bofe goba bofe bja bahuetši ba go swana ka Afrika Borwa gomme, ge go le bjalo, ge eba go bile le diphetogo dife goba dife ka gare ga popego, dipharologantšho goba tlhago ya bahuetši ye vii bjalo go tloga ka 2010 go fihla ka 2016. Gape, potšišo e botšišitšwe ge eba diphetogo dife goba dife di ka bonwa mabapi le diketapele tša diboto tša khamphani ka netewekeng ya maatla a ikonomi ya tikologo. Dipoelo tša dinyakišišo di laetša gore go be go na le poelomorago ye e hlakileng ya dipoelo tša phetošo go ya go tlhomo leswa ya taolo ya banna ba bathobašweu ka gare ga maemo a go feta tekanyo a bahuetši a balaodi ka netewekeng ya Afrika Borwa 2016. Ka go hlokega ga bohlatse bja mafelelo bja go tšwa nyakišišong ye, boleng bja tlhatlaganyo ya molaodi bo sa ntše bo ngangišanwa kudu. Setlwaedi sa tlhatlaganyo ya molaodi se na le mohola goba se senya dikoporase le ponagalo ya ikonomi ye e nabilego, goba se ka ba bobedi sa mohola le go senya? Nyakišišo ye e fa bohlatse bja mafelelo bja gore boleng bja tlhatlaganyo bo laolwa ke tsela yeo bo šomišwago ka yona, go akaretšwa ka fao ditlholo, ditlamorago le diphetogo tša tlhatlaganyo ya molaodi di bago gona khamphaning e tee ka e tee. Mola bohlatse bo šišinya gore tlhatlaganyo ya molaodi, ge e šomišitšwe ka nepagalo, e ka ba le mohola, bothata bja malobanyana bja Steinhoff bo šomišetšwe go laetša gore gape bo ka ba kotsi, go ya ka fao bo šomišitšwego. Nyakišišo ye e gatelela boleng bja teori ya neteweke ya leago, teori ya boikanyo bja methopo, teori ya etšentshi, teori ya lefase le lenyane le diphetogo tša maatla, gagolo ka dinyakišišong tša pušo ya koporase le makala ao a amegago a nyakišišo. Nyakišišo ye ntle le pelaelo e kgathatema go tsebo ya mmele go pušo ya koporase ka kakaretšo le sebopego le go šoma ga diboto tša khamphani, go akaretšwa tlhatlaganyo ya molaodi, gagolo. Melawana ya tshepedišo ye e tšweletšeng go tšwa nyakišišong ye a ka no šomišwa go hlaola dibopego tša boto le bonkgetheng ba bolaodi ba go beelwa go thwalwa ga boto ka maikemišetšo le go efoga diphethene tše di nago le kgonagalo ya go senya tšeo gape di kago iša go palelwa go koporaseBusiness ManagementD. B. L