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Sustainability 2016, 8(9), 945; doi:10.3390/su8090945

Measuring Corporate Sustainability and Environmental, Social, and Corporate Governance Value Added

1
Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 4, Brno 61200, Czech Republic
2
Department of Informatics, Faculty of Business and Management, Brno University of Technology, Kolejní 4, Brno 61200, Czech Republic
*
Author to whom correspondence should be addressed.
Academic Editor: Giuseppe Ioppolo
Received: 7 June 2016 / Accepted: 12 August 2016 / Published: 15 September 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
View Full-Text   |   Download PDF [445 KB, uploaded 15 September 2016]   |  

Abstract

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. View Full-Text
Keywords: corporate sustainability; environmental, social, corporate governance indicators; value added; factor analysis; confirmatory factor analysis; Data Envelopment Analysis corporate sustainability; environmental, social, corporate governance indicators; value added; factor analysis; confirmatory factor analysis; Data Envelopment Analysis
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Kocmanová, A.; Pavláková Dočekalová, M.; Škapa, S.; Smolíková, L. Measuring Corporate Sustainability and Environmental, Social, and Corporate Governance Value Added. Sustainability 2016, 8, 945.

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