Detail publikačního výsledku

Modelling of the relationship between sustainability and shareholder wealth

PAVLÁKOVÁ DOČEKALOVÁ, M.; KOCMANOVÁ, A.; MELUZÍN, T.; ŠKAPA, S.

Originální název

Modelling of the relationship between sustainability and shareholder wealth

Anglický název

Modelling of the relationship between sustainability and shareholder wealth

Druh

Článek WoS

Originální abstrakt

A structural model for the verification of the causal relationship between sustainability and economic value added is presented in this paper. The study has shown that there is no definite and unique relationship between corporate sustainability and economic value. Based on the results of the structural modelling, sustainable value model ESGVA is methodologically improved. The model expresses all four dimensions of corporate sustainability: environmental, social, corporate governance and economic. The case study demonstrates how different the results are if a purely economic concept of company value is used compared to value that takes into account environmental, social and corporate governance factors. The model is applicable to comparative analysis of socially responsible investments. Sustainable value provides extra information on corporate performance and can be used for decision-making of individual investors.

Anglický abstrakt

A structural model for the verification of the causal relationship between sustainability and economic value added is presented in this paper. The study has shown that there is no definite and unique relationship between corporate sustainability and economic value. Based on the results of the structural modelling, sustainable value model ESGVA is methodologically improved. The model expresses all four dimensions of corporate sustainability: environmental, social, corporate governance and economic. The case study demonstrates how different the results are if a purely economic concept of company value is used compared to value that takes into account environmental, social and corporate governance factors. The model is applicable to comparative analysis of socially responsible investments. Sustainable value provides extra information on corporate performance and can be used for decision-making of individual investors.

Klíčová slova

economic value added; sustainability; environmental; social; corporate governance factors; sustainable value

Klíčová slova v angličtině

economic value added; sustainability; environmental; social; corporate governance factors; sustainable value

Autoři

PAVLÁKOVÁ DOČEKALOVÁ, M.; KOCMANOVÁ, A.; MELUZÍN, T.; ŠKAPA, S.

Rok RIV

2023

Vydáno

20.06.2022

Nakladatel

Vilnius Gediminas Technical University

Místo

VILNIUS

ISSN

2029-4913

Periodikum

Technological and Economic Development of Economy

Svazek

28

Číslo

3

Stát

Litevská republika

Strany od

854

Strany do

871

Strany počet

18

URL

https://journals.vilniustech.lt/index.php/TEDE/article/view/16480

Plný text v Digitální knihovně

http://hdl.handle.net/11012/208119

BibTex

@article{BUT178368,
  author="Marie {Pavláková Dočekalová} and Alena {Kocmanová} and Tomáš {Meluzín} and Stanislav {Škapa}",
  title="Modelling of the relationship between sustainability and shareholder wealth",
  journal="Technological and Economic Development of Economy",
  year="2022",
  volume="28",
  number="3",
  pages="854--871",
  doi="10.3846/tede.2022.16480",
  issn="2029-4913",
  url="https://journals.vilniustech.lt/index.php/TEDE/article/view/16480"
}

Dokumenty

16480-Article Text-61507-3-10-20220602