asset allocation more efficiently. This would support the development of investment types or strategies that are more versatile in response to investor demands while maintaining preventive measures on

characteristics (Matsumoto, 2002) - Institutional ownership - Reliance on implicit claims with their stockholders - Value-relevance of earnings Natural disasters (such as hurricanes: Byard et al. 2007

Code of Governance for South Africa.  10. International Federation of Accountants, 2011. Competent and Versatile. How Professional Accountants in Business Drive Sustainable Organisational Success.  11

are sustainably different from the underlying financial version of the agency theory. It assumes that each stakeholder is a part of implicit and explicit contracts that can contribute to a corporation

implicit in the methodology but have been clarified through notes Web pages that facilitate dissemination Research highlights on the credit implications of ESG trends and factors ESG- specific conferences or

does not constitute an implicit or explicit investment advice. The information provided herein is general in nature and does not constitute an advertisement of financial products in Switzerland pursuant

with the Company’s policies and strategies on restructuring its business to become versatile after the discontinuation of the Manufacturing Business of accessories and faucet products. After the disposal

and consistent with the Company’s policies and strategies on restructuring its business to become versatile after the discontinuation of the Manufacturing Business of accessories and faucet products

underlying asset(s) in which they invest – as discussed above. One aim of internal governance structures and the Principles in this respect is to minimise the frictional costs implicit in the investment chain

of Technology, an MBA and a Doctorate in Business Administration from Harvard University. With versatile experience in the financial market, he held key positions in various public and private