Institutional Repository

Assessing the State of Financial Distress of Listed Gold and Platinum Mines in South Africa.

Show simple item record

dc.contributor.author Ngwenya, Sam
dc.date.accessioned 2018-11-15T10:51:41Z
dc.date.available 2018-11-15T10:51:41Z
dc.date.issued 2018
dc.identifier.citation Ngwenya, Sam. 2018. Assessing the State of Financial Distress of Listed Gold and Platinum Mines in South Africa. Acta Universitatis Danubius. Oeconomica, 14(4): 655-677. en
dc.identifier.issn 2065-0175
dc.identifier.uri http://hdl.handle.net/10500/25036
dc.description.abstract The main objective of this study was to assess the state of financial distress of listed gold and platinum mining companies in South Africa during the period 2011 to 2015. Mining has been the driving force of the economy in South Africa, and has played a vital role in the country′s economic development. Most studies conducted on financial distress in South Africa focussed on manufacturing companies, and none could be found that focussed on mining companies. Out of a population of 8 listed gold mining companies and 11 listed platinum mining companies, only 5 gold mining companies and 5 platinum mining companies were selected to form a total sample of 10 gold and platinum mining companies. Standardised financial statements of the sampled gold and platinum mining companies was downloaded from iNET BFA database and analysed making use of Altman Z-score and Altman Z′ (EM) score models as proxies to predict financial distress. The results revealed that gold mining companies are more financially distressed than platinum mining companies. It is recommended that management in gold and platinum mining companies should conduct regular ratio analyses and take corrective action where necessary to improve the financial health of the companies. en
dc.language.iso en en
dc.publisher Acta Universitatis Danibius. Oeconomica. en
dc.subject Financial Distress en
dc.subject Gold and platinum mining companies en
dc.subject Altman Z-score en
dc.subject Altman Z′ (EM) en
dc.title Assessing the State of Financial Distress of Listed Gold and Platinum Mines in South Africa. en
dc.type Article en
dc.description.department Finance, Risk Management and Banking en


Files in this item

This item appears in the following Collection(s)

Show simple item record

Search UnisaIR


Browse

My Account

Statistics