Journal of
Systemics, Cybernetics and Informatics
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ISSN: 1690-4524 (Online)


Peer Reviewed Journal via three different mandatory reviewing processes, since 2006, and, from September 2020, a fourth mandatory peer-editing has been added.

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Published by
The International Institute of Informatics and Cybernetics


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Honorary Editorial Advisory Board's Chair
William Lesso (1931-2015)

Editor-in-Chief
Nagib C. Callaos


Sponsored by
The International Institute of
Informatics and Systemics

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Transfer Learning for Facial Emotion Recognition on Small Datasets
Paolo Barile, Clara Bassano, Paolo Piciocchi
(pages: 1-5)

How to Link Educational Purposes and Immersive Video Games Development? An Ontological Approach Proposal
Nathan Aky
(pages: 6-13)

Application of Building Information Modeling (BIM) in the Planning and Construction of a Building
Renata Maria Abrantes Baracho, Luiz Gustavo da Silva Santiago, Antonio Tagore Assumpção Mendoza e Silva, Marcelo Franco Porto
(pages: 14-19)

Transformative, Transdisciplinary, Transcendent Digital Education: Synergy, Sustainability and Calamity
Rusudan Makhachashvili, Ivan Semenist
(pages: 20-27)

New Online Tools for the Data Visualization of Bivalve Molluscs' Production Areas of Veneto Region
Eleonora Franzago, Claudia Casarotto, Matteo Trolese, Marica Toson, Mirko Ruzza, Manuela Dalla Pozza, Grazia Manca, Giuseppe Arcangeli, Nicola Ferrè, Laura Bille
(pages: 28-32)

Geodata Processing Methodology on GIS Platforms When Creating Spatial Development Plans of Territorial Communities: Case of Ukraine
Olena Kopishynska, Yurii Utkin, Ihor Sliusar, Leonid Flehantov, Mykola Somych, Oksana Yakovlieva, Olena Scryl
(pages: 33-40)

D-CIDE: An Interactive Code Learning Program
Lukas Grant, Matthew F. Tennyson, Jason Owen
(pages: 41-46)

Interdisciplinary Digital Skills Development for Educational Communication: Emergency and Ai-Enhanced Digitization
Rusudan Makhachashvili, Ivan Semenist, Ganna Prihodko, Irina Kolegaeva, Olexandra Prykhodchenko, Olena Tupakhina
(pages: 47-51)

Interdisciplinarity in Smart Systems Applied to Rural School Transport in Brazil
Renata Maria Abrantes Baracho, Mozart Joaquim Magalhães Vidigal, Marcelo Franco Porto, Beatriz Couto
(pages: 52-59)

Peculiarities of the Realization of IT Projects for the Implementation of ERP Systems on the Path of Digitalization of Territorial Communities Activities
Olena Kopishynska, Yurii Utkin, Ihor Sliusar, Khanlar Makhmudov, Olena Kalashnyk, Svitlana Moroz, Olena Kyrychenko
(pages: 60-67)


 

Abstracts

 


ABSTRACT


The Impact of Environmental and Social Performance on the Market Value of Shares of Czech Joint-Stock Corporations

Alena Kocmanova, Marie Pavlakova Docekalova, Iveta Simberova


The paper analyses the relationship between the social, environmental and economic performance and the firm market value as determined by the market value of shares in manufacturing companies. Empirical research has been verified according to the EU criteria in 87 joint-stock companies in the Czech Republic with more than 250 employees. Data was acquired by empirical research in the Czech Republic, which was completed in 2011-2015. The objective of the paper is to determine, on the basis of established hypotheses, whether the increased social and environmental performance increases the economic performance and the firm market value. Empirical research has shown that social performance has an impact on economic performance as well as on the market value of the share, that is, on the firm market value. Environmental performance has no significant effect on economic performance or on the market value of the share. Research results can provide investors with information that they only appreciate if social and environmental tools introduced into joint-stock companies increase economic performance while increasing the market value of the company.

The paper deals with the effect of sustainable performance on the market price of shares. The empirical research analysis was conducted for 87 joint-stock companies in the Czech Republic for the period 2011-2015. The aim of the paper is to determine whether the sustainable performance of non-listed joint stock companies increases economic performance and, at the same time, the market price of company shares. This effect was verified based on established hypotheses using linear regression models. The Firm Market Value of Shares was determined using the comparable enterprise method. In the paper, sustainable company performance is measured independently on the basis of an assessment of the environmental, social and economic indicators of manufacturing companies as compared to companies in the same industry. Empirical research has implied that social performance has an effect on both the economic performance and the market price of shares. Environmental performance has no significant impact on the economic performance or on the market price of shares. The results of the empirical research may provide investors with important information about the sustainable performance of joint stock companies whether their investment in social and environmental instruments will increase their economic performance, as well as the market price of shares.

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