Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies?
The paper analyses relations and impacts between the corporate governance and the Firm Market Value and Firm Risk, including the financial performance in manufacturing industry companies. The empiric research was verified in 118 joint stock companies in the Czech Republic with over 250 employees acc...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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International Institute of Informatics and Cybernetics
2019-04-01
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| Series: | Journal of Systemics, Cybernetics and Informatics |
| Subjects: | |
| Online Access: | http://www.iiisci.org/Journal/CV$/sci/pdfs/ZA520AC19.pdf
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| _version_ | 1818622372809277440 |
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| author | Iveta Simberova Alena Kocmanova Marie Pavlakova Docekalova Stanislav Skapa |
| author_facet | Iveta Simberova Alena Kocmanova Marie Pavlakova Docekalova Stanislav Skapa |
| author_sort | Iveta Simberova |
| collection | DOAJ |
| description | The paper analyses relations and impacts between the corporate governance and the Firm Market Value and Firm Risk, including the financial performance in manufacturing industry companies. The empiric research was verified in 118 joint stock companies in the Czech Republic with over 250 employees according to the EU criterion. The data was acquired by empirical research in the Czech Republic, 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. |
| first_indexed | 2024-12-16T18:24:08Z |
| format | Article |
| id | doaj.art-5b70c3904c7f4a0d99e739ed77088cea |
| institution | Directory Open Access Journal |
| issn | 1690-4524 |
| language | English |
| last_indexed | 2024-12-16T18:24:08Z |
| publishDate | 2019-04-01 |
| publisher | International Institute of Informatics and Cybernetics |
| record_format | Article |
| series | Journal of Systemics, Cybernetics and Informatics |
| spelling | doaj.art-5b70c3904c7f4a0d99e739ed77088cea2022-12-21T22:21:28ZengInternational Institute of Informatics and CyberneticsJournal of Systemics, Cybernetics and Informatics1690-45242019-04-011726572Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies?Iveta SimberovaAlena KocmanovaMarie Pavlakova DocekalovaStanislav SkapaThe paper analyses relations and impacts between the corporate governance and the Firm Market Value and Firm Risk, including the financial performance in manufacturing industry companies. The empiric research was verified in 118 joint stock companies in the Czech Republic with over 250 employees according to the EU criterion. The data was acquired by empirical research in the Czech Republic, 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.http://www.iiisci.org/Journal/CV$/sci/pdfs/ZA520AC19.pdf firm market valuecorporate governance modelconfirmative factor analysisstructural equationsfirm riskfinancial performance model |
| spellingShingle | Iveta Simberova Alena Kocmanova Marie Pavlakova Docekalova Stanislav Skapa Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? Journal of Systemics, Cybernetics and Informatics firm market value corporate governance model confirmative factor analysis structural equations firm risk financial performance model |
| title | Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? |
| title_full | Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? |
| title_fullStr | Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? |
| title_full_unstemmed | Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? |
| title_short | Does Corporate Governance Affect the Market Value and Risk of Czech Joint-Stock Companies? |
| title_sort | does corporate governance affect the market value and risk of czech joint stock companies |
| topic | firm market value corporate governance model confirmative factor analysis structural equations firm risk financial performance model |
| url | http://www.iiisci.org/Journal/CV$/sci/pdfs/ZA520AC19.pdf
|
| work_keys_str_mv | AT ivetasimberova doescorporategovernanceaffectthemarketvalueandriskofczechjointstockcompanies AT alenakocmanova doescorporategovernanceaffectthemarketvalueandriskofczechjointstockcompanies AT mariepavlakovadocekalova doescorporategovernanceaffectthemarketvalueandriskofczechjointstockcompanies AT stanislavskapa doescorporategovernanceaffectthemarketvalueandriskofczechjointstockcompanies |