The aim of the paper is to propose a model for measuring sustainable value which would complexly assess environmental, social, and corporate governance contribution to value creation. In the paper the concept of the Sustainable Environmental, Social and Corporate Governance Value Added is presented. The Sustainable Environmental, Social and Corporate Governance Value Added is based on the Sustainable Value Added model and combines weighted environmental, social, and corporate governance indicators with their benchmarks determined by Data Envelopment Analysis. Benchmark values of indicators were set for each company separately and determine the optimal combination of environmental, social, and corporate governance inputs to economic outcomes. The Sustainable Environmental, Social and Corporate Governance Value Added methodology is applied on real-life corporate data and presented through a case study. The value added of most of the selected companies was negative, even though economic indicators of all of them are positive. The Sustainable Environmental, Social and Corporate Governance Value Added is intended to help owners, investors, and other stakeholders in their decision-making and sustainability assessment. The use of environmental, social, and corporate governance factors helps identify the company's strengths and weaknesses, and provides a more sophisticated insight into it than the one-dimensional methods based on economic performance alone.
KOCMANOVÁ, A., DOČEKALOVÁ, M.: Construction of the economic indicators of performance in relation to environmental, social and corporate governance (ESG) factors. Acta univ. agric. et silvic. Mendel. Brun., 2012, LX, No. 4, pp. 195-206 The article is focused on economic performance in relation to environmental, social and corporate governance indicators. Indicators are increasingly used by investors to understand the processes in company, focusing on the key factors. Many international institutions engaged in the development of environmental, social and corporate governance indicators and they are in accordance with fi nancial institutions trying to fi nd a common language in defi ning the environmental, social and corporate governance indicators aff ecting their common objectives to achieve sustainable, long-term growth and prosperity. The aim of the article is searching for the way of measuring economic performance of the company in relation to environmental, social and corporate governance indicators. On the basis of analysis of the environmental, social and corporate governance performance indicators of international organizations has been carried out empirical research of economic indicators for the companies in the manufacturing sector. The expected result of the research is the design of the economic indicators of performance in relation to environmental, social and corporate governance indicators. These proposed economic performance indicators should enable companies to measure the economic performance and added value towards sustainability.
KOCMANOVÁ, A., DOČEKALOVÁ, M.: Corporate sustainability: environmental, social, economic and corporate performance. Acta univ. agric. et silvic. Mendel. Brun., 2011, LIX, No. 7, pp. 203-208 The article deals with corporate sustainability and environmental and social issues of the integration of corporate performance measurement that may lead to sustainable economic success. Sustainability is a strategy of the process of sustainable development. Sustainability of businesses and sustainable performance can be defi ned as an integration of environmental, social and economic performance. First and foremost, businesses will want to know what indicators can be used to measure environmental, social and economic performance. What is the mutual relationship between environmental, social and economic performance? How can fi rms arrive at a comprehensive assessment of their performance in relation to sustainability? The aim of this paper is to analyze corporate environmental, social and economic performance and to analyze their mutual relationships. The fi nal part of the article is an assessment of the contemporary situation and dra Key Performance Indicators (KPI) for assessment of corporate sustainability that will be the subject of further research in a selected NACE-CZ sector and in accordance with Corporate Sustainability Reporting. KPI provide businesses with a means of measuring progress toward achieving objectives. corporate sustainability, environmental performance, economic performance, key performance indicators, corporate sustainability reporting, small and medium-sized enterprises Address doc. Ing. Alena Kocmanová, Ph,D, Ing. Marie Dočekalová, Ústav ekonomiky, Vysoké učení technické v Brně, Fakulta podnikatelská, Kolejní 4, 612 00 Brno, Česká republika,
This paper discusses the measurement and assessment of corporate sustainability by a composite indicator. The aim of the paper is a construction of a composite indicator "Index corporate sustainability" (ICS). A tool for measuring and assessing corporate sustainability is an appropriately designed model called the "Sustainable Environmental, Social, Governance and Economic Model (SEESG Model)". The composite indicator ICS integrates 5 financial (economic) and 14 non-financial, environmental, social and corporate governance (ESG) performance indicators Iji, which are determined in a stepwise fashion from a basic set of performance indicators using the principal component analysis (PCA) modelling. The composite indicator ICS is one of the possible ways to create a tool for measuring and assessing corporate sustainability that allows for the assessment of companies by a set of financial and non-financial indicators in various areas of their performance, thus enabling a detailed analysis and determination of the impact of various performance areas and factors in complex corporate performance. An important characteristic of the composite indicator is the possibility to easily make comparisons and rankings of companies in a particular sector, and estimate whether they are heading towards sustainability. The use of benchmarking for company-to-company comparisons makes it possible to interpret summary information and to quantify differences in the performance of individual companies using graphic visualization. For this reason, ICS can be offered as a consistent and flexible benchmarking for owners, managers and investors. Using this indicator, they can incorporate sustainability into their decision-making processes, and achieve economic growth and ensure protection of the environment and social values.
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