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

Kód výsledku v 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>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

<a href="/cs/project/GA17-23448S" target="_blank" >GA17-23448S: Modelování a simulace udržitelného investování pro podporu rozhodování</a><br>

Návaznosti

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

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název statě ve sborníku

IMCIC 19 Proceeding, Volume I

ISBN

978-1-941763-96-4

ISSN

—

e-ISSN

—

Počet stran výsledku

6

Strana od-do

29-34

Název nakladatele

International Institute of Informatics and Systemics

Místo vydání

Orlando, Florida, USA

Místo konání akce

Orlando, Florida

Datum konání akce

12. 3. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—