Table 9.

Company tone analysis over the period

Company nameIndustry Sub-sectorIssue year (publicly)2016201720182019202020212022
EOHComputer services2019C**N** U** opposedL* C* opposedU* N* opposed
Tongaat HulettFood products2018
OceanaFarming, fishing, plantations2021SM** opposedSM** opposedU** N* opposed L** opposed SM** opposedU** N* opposed L*opposed SM** opposedSM**, L**, N** C** opposed U** opposedN* U** opposed SM** opposed
SteinhoffBroadline retailers2017SM** C** N* opposed L** opposedN** L** opposedN* C*opposed L*opposedC* opposedU** opposed C** opposedSM** N* opposedL** N** opposed
Delta propertiesIndustrial and office REITs2020P*C** L* opposedC** L* opposed
SparFood retailers and wholesalers2022SM** L* U* opposedWM**
Note(s):

*Statistically significant at p  < 0.05 level. **Statistically significant at p  < 0.01 level. Key: Positive (P), Negative (N), Weak Modal (WM), Strong Modal (SM), Constraining (C), Uncertainty (U), Litigious (L). Blanks – no significant variation from the expected profile. Therefore, the profile for that year is aligned to the centroid

Source(s): Authors’ own work

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