Detail publikace

The impact of Environmental and Social performance on the Market Value of Shares of Czech Joint-Stock Corporations

Originální název

The impact of Environmental and Social performance on the Market Value of Shares of Czech Joint-Stock Corporations

Anglický název

The impact of Environmental and Social performance on the Market Value of Shares of Czech Joint-Stock Corporations

Jazyk

en

Originální abstrakt

The paper analyses the relationship between the social, environmental and economic performance and the firm market value as determined by the market value of shares in manufacturing companies. Empirical research has been verified according to the EU criteria in 87 joint-stock companies in the Czech Republic with more than 250 employees. Data was acquired by empirical research in the Czech Republic, which was completed in 2011-2015. The objective of the paper is to determine, on the basis of established hypotheses, whether the increased social and environmental performance increases the economic performance and the firm market value. Empirical research has shown that social performance has an impact on economic performance as well as on the market value of the share, that is, on the firm market value. Environmental performance has no significant effect on economic performance or on the market value of the share. Research results can provide investors with information that they only appreciate if social and environmental tools introduced into joint-stock companies increase economic performance while increasing the market value of the company.

Anglický abstrakt

The paper analyses the relationship between the social, environmental and economic performance and the firm market value as determined by the market value of shares in manufacturing companies. Empirical research has been verified according to the EU criteria in 87 joint-stock companies in the Czech Republic with more than 250 employees. Data was acquired by empirical research in the Czech Republic, which was completed in 2011-2015. The objective of the paper is to determine, on the basis of established hypotheses, whether the increased social and environmental performance increases the economic performance and the firm market value. Empirical research has shown that social performance has an impact on economic performance as well as on the market value of the share, that is, on the firm market value. Environmental performance has no significant effect on economic performance or on the market value of the share. Research results can provide investors with information that they only appreciate if social and environmental tools introduced into joint-stock companies increase economic performance while increasing the market value of the company.

Dokumenty

BibTex


@inproceedings{BUT152196,
  author="Alena {Kocmanová} and Marie {Pavláková Dočekalová} and Iveta {Šimberová}",
  title="The impact of Environmental and Social performance on the Market Value  of Shares of Czech Joint-Stock Corporations",
  annote="The paper analyses the relationship between the social, environmental and economic performance and the firm market value as determined by the market value of shares in manufacturing companies. Empirical research has been verified according to the EU criteria in 87 joint-stock companies in the Czech Republic with more than 250 employees. Data was acquired by empirical research in the Czech Republic, which was completed in 2011-2015. The objective of the paper is to determine, on the basis of established hypotheses, whether the increased social and environmental performance increases the economic performance and the firm market value. Empirical research has shown that social performance has an impact on economic performance as well as on the market value of the share, that is, on the firm market value. Environmental performance has no significant effect on economic performance or on the market value of the share. Research results can provide investors with information that they only appreciate if social and environmental tools introduced into joint-stock companies increase economic performance while increasing the market value of the company.",
  address="International Institute of Informatics and Systematics",
  booktitle="The 22nd World Multi-Conference on Systemics, Cybernetics and Informatics (WMSCI 2018)",
  chapter="152196",
  edition="1",
  howpublished="electronic, physical medium",
  institution="International Institute of Informatics and Systematics",
  year="2018",
  month="july",
  pages="13--18",
  publisher="International Institute of Informatics and Systematics",
  type="conference paper"
}