The Effect of Selected Macroeconomic Factors on the Sustainability and the Market Value of Czech Joint-Stock Companies
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F20%3APU136558" target="_blank" >RIV/00216305:26510/20:PU136558 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
The Effect of Selected Macroeconomic Factors on the Sustainability and the Market Value of Czech Joint-Stock Companies
Original language description
The paper analyzes relations between macroeconomic indicators and the Firm Market Value as related to corporate sustainability. Empirical research was verified in 128 unlisted manufacturing companies in the Czech Republic with more than 250 staff according to the EU criteria. The data were obtained by empirical research in the Czech Republic in 2014-2018. The aim of the paper is to propose a suitable sustainability model for unlisted Czech joint-stock companies in the Czech Republic and to investigate the macroeconomic impacts on the Firm Market Value and sustainability. The research methodology is based on multidimensional statistical methods EFA and CFA, and on structural equation modelling of mutual relationships. Empirical research has shown that factors such as inflation, unemployment and government debt do not directly affect corporate sustainability determined by ESG factors, nor do they positively affect the growth of the Firm Market Value. The only research hypothesis confirmed was the hypothesis that if government debt increases, inflation and unemployment will negatively affect the firm risk of a company. Although the research failed to reveal any interrelationships, investors are recommended to monitor these fundamental factors, especially their rapid or long-term fairly rapid growth, as this would lead to a decline in the Firm Market Value.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 11th International Multi-Conferences on Complexity, Informatics and Cybernetics: IMCIC 2020
ISBN
978-1-950492-26-8
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
99-104
Publisher name
International Institute of Informatics and Systemics, IIIS
Place of publication
Orlando, Florida
Event location
Orlando, Florida
Event date
Mar 10, 2020
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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