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Comparing the composite indicator Index Corporate Sustainability and the predictive model – An application on Czech manufacturing companies

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dc.title Comparing the composite indicator Index Corporate Sustainability and the predictive model – An application on Czech manufacturing companies en
dc.contributor.author Kocmanová, Alena
dc.contributor.author Pavláková Dočekalová, Marie
dc.contributor.author Němeček, Petr
dc.relation.ispartof WMSCI 2016 - 20th World Multi-Conference on Systemics, Cybernetics and Informatics, Proceedings
dc.identifier.isbn 9781941763476
dc.date.issued 2016
utb.relation.volume 1
dc.citation.spage 13
dc.citation.epage 18
dc.event.title 20th World Multi-Conference on Systemics, Cybernetics and Informatics, WMSCI 2016
dc.event.location Orlando, FL
utb.event.state-en United States
utb.event.state-cs Spojené státy americké
dc.event.sdate 2016-07-05
dc.event.edate 2016-07-08
dc.type conferenceObject
dc.language.iso en
dc.publisher International Institute of Informatics and Systemics, IIIS
dc.relation.uri http://www.iiis.org/CDs2016/CD2016Summer/papers/SA610GF.pdf
dc.subject Composite indicator en
dc.subject Financial and non-financial indicators en
dc.subject Predictive models en
dc.subject Sustainability en
dc.description.abstract This paper focuses on a comparison of the composite indicator Index Corporate Sustainability ICS, the predictive model Corporate Sustainability Index CSIMDA for measuring and evaluating sustainability, and the economic predictive model Index of Financial Standing IB for concerns in the manufacturing industry. The aim was to determine the informative ability of these models, to analyse their differing results, and to identify which model is the most suitable. The results produced by these models by means of a comparison of 10 Czech concerns in the manufacturing industry in the period 2011-2013 are depicted in graphic form, and conclusions derived as to whether the given concerns are headed towards sustainability. Models of sustainability are based on environmental, social, corporate governance and economic indicators of performance (IESGEi) which are expressed in various units. The economic model is based on economic indicators. The results produced by comparison of the models indicates the most suitable model to be the composite indicator ICS which shows a high percentage of correctly classified companies on the basis of the Gini index. The subsequent classification of concerns according to the composite indicator is essentially different to the classification of concerns according to predictive models, first and foremost as a result of the construction of this model and the inclusion of environmental, social and corporate governance indicators in contrast to the predictive model CSIMDA and the predictive model IB. The results of research into the measurement and evaluation of corporate sustainability clearly indicate that, in addition to financial indicators, it is also essential to incorporate non-financial indicators into these models. Models for the measurement and evaluation of sustainability can provide investors and owners with information as to whether the given concern is headed towards sustainability or not. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1007317
utb.identifier.obdid 43876614
utb.identifier.scopus 2-s2.0-85016781249
utb.source d-scopus
dc.date.accessioned 2017-09-08T12:14:40Z
dc.date.available 2017-09-08T12:14:40Z
utb.contributor.internalauthor Němeček, Petr
utb.fulltext.affiliation Alena KOCMANOVA, Marie PAVLAKOVA DOCEKALOVA Brno University of Technology, Faculty of Business and Management, Department of Economics, Brno, Czech Republic and Petr NEMECEK Tomas Bata University in Zlín, Faculty of Management and Economics, Department of Management, Zlín, Czech Republic
utb.fulltext.dates -
utb.fulltext.references [1] A. Kocmanová, M. Pavláková Dočekalová, P. Němeček. “Utilization of Multidimensional Methods for Corporate Sustainability”. In Proceedings of the 19th World MultiConference on Systemics, Cybernetics and Informatic, 2015. pp. 1-7. [2] C. A. Adams, G. R. Frost. “Managing Social and Environmental Performance: Do Companies Have Adequate Information?” Accounting Review, 2007, Vol.17, pp. 2–11. [3] GRI. Reporting Principles and Standard Disclosures. Available at: https://www.globalreporting.org/resourcelibrary/GRIG4-Part1-Reporting-Principles-and-StandardDisclosures.pdf. [4] IFAC. Investor Demand for Environmental, Social and Governance Disclosures. Available at: http://www.ifac.org/publications-resources/investor-demand-environmental-social-and-governance-disclosures. [5] A. Kocmanová, I. Šimberová. “Determination of environmental, social and corporate governance indicators: framework in the measurement of sustainable performance”, Journal of Business Economics and Management, 2014, Vol.15, pp.1017–1033. [6] M. Pavláková Dočekalová, A. Kocmanová, J. Koleňák. “Determination of economic indicators in the context of corporate sustainability performance”. Business: Theory and Practice, 2015, Vol. 16, 15-24. [7] J. Sedláček. “Účetní data v rukou manažera – finanční analýza v řízení firmy”, Computer Press 2001. [8] E. I. Altman. Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. The Journal of Finance, Vol. 23, No. 4, 1968, pp.589–609. [9] I. Neumaierová, I. Neumaier. “Index IN05”. In Evropské finanční systémy, Brno, Česká republika: Masarykova univerzita, 2005, pp.143–148. [10] OECD. “Handbook on Constructing Composite Indicators. Methodology and User Guide”, 2008. [11] M. Nardo, et al. “Handbook On Constructing Composite Indicators: Methodology and User Guide OECD”, Statistics Working Paper, 2006. [12] P. Mederly, J. Topercer, P. Nováček, P. “Indikátory kvality života a udržitelného rozvoje – kvantitativní, vicerozměrný a variantní přístup”, Praha: Univerzita Karlova, CESES, 2004. [13] A. Saltelli et al. “Agregované indikátory – kontroverze a její možná řešení”. Statistika, 2005, Vol.2. pp. 93–106. [14] G. Ciemleja, N. Lace. „The model of sustainable performing of SMEs in context of company's life cycle“. In Proceedings of the 15th World MultiConference on Systemics, Cybernetics and Informatics, 2011, pp. 65-77.
utb.fulltext.sponsorship This paper is supported by the Czech Science Foundation. Name of the Project: Measuring Corporate Sustainability in Selected Sectors. Registration No. 14-23079S.
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