Does corporate governance affect the market value and risk of Czech joint-stock companies?

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F19%3APU132909" target="_blank" >RIV/00216305:26510/19:PU132909 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Does corporate governance affect the market value and risk of Czech joint-stock companies?

Original language description

The paper analyses the relationships and impacts between Good Corporate Governance (GC and the Firm Market Value and the Firm Risk, including Financial Performance in the companies of the processing industry. Empirical research has been verified in 118 joint-stock companies in the Czech Republic with the number of employees over 250 according to the EU criterion. Data was acquired by empirical research in the Czech Republic which was completed in 2012-2016. The aim of the paper is to propose a suitable model of Good Corporate Governance for unlisted Czech companies in the Czech Republic and to identify its impacts on the Firm Market Value, the Firm Risk and the Financial Performance. The methodology of research is based on modelling, using the structural equation modelling (SEM) for modelling the interrelationships and impacts between the GCG performance, the Firm Market Value, the Firm Risk and the Financial Performance. The empirical research has shown that responsible corporate governance has an impact on the Firm Market Value, both through the financial performance and through the stable risk. The investors are thus suggested that if good corporate governance and regulatory measures are introduced, thereby strengthening the corporate financial performance and the stable Firm Risk, then it will have a significant impact on the Firm Market Value.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

<a href="/en/project/GA17-23448S" target="_blank" >GA17-23448S: Modelling and simulation of sustainable investment decision-making</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

IMCIC 19 Proceeding, Volume I

ISBN

978-1-941763-96-4

ISSN

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e-ISSN

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Number of pages

6

Pages from-to

29-34

Publisher name

International Institute of Informatics and Systemics

Place of publication

Orlando, Florida, USA

Event location

Orlando, Florida

Event date

Mar 12, 2019

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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