IDEAS home Printed from https://ideas.repec.org/a/mup/actaun/actaun_2011059020251.html
   My bibliography  Save this article

Determinants of the company value

Author

Listed:
  • Kamila Růžičková

    (Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika)

  • Jana Kolmanová

    (Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika)

  • Michaela Loupová

    (Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika)

Abstract

Today, there are many conceptions involving creation of the company value, as it is the main objective for the owners. However, there are still many companies interested primarily in the different company's objectives and enhance its competitive position differently. The aim of the paper is to present and analyze the viewpoints of Czech and foreign specialists on the issue of company value creation. The paper provides the determination of factors positively influencing the company value, the description of their characteristics, and on the basis of a detailed academic discussion proposes conclusions. Attention is paid especially to the value drivers which are not recorded in the financial documents.The introduction of the paper gives a brief overview of the topic. The paper is divided into three main parts. The first part introduces the effective cost management. It clarifies the concept of the managerial accounting and explains its contribution to the creation of the company value. The second part deals with the external relationships of the company. It focuses on the buyer-supplier relationships and offers the detailed perspective on the specific issue of the agricultural companies and their competitiveness in relation to the land leases. The third part concentrates on the internal company environment, namely on the human capital potential and its effects on the value of the company. In the concluding part, the findings are summarized. Based on the results, the figure describing the determinants and generators of the company value is formed. This figure can be considered a systematic procedure how to create a company value.All findings are supported with the literature review e.g. Armstrong (2007), Fibírová and Šoljaková (2005), Marinič (2008), Petřík (2007) and Porter (2004). Within the paper elaboration, the analysis and synthesis as scientific methods were used for explanation of the experts' points of view and then summed up as the partial and final results. The logical-systematic method was employed for clarification of the initial conditions, context illustration, partial outcomes creation and deduction of the final results.

Suggested Citation

  • Kamila Růžičková & Jana Kolmanová & Michaela Loupová, 2011. "Determinants of the company value," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 59(2), pages 251-256.
  • Handle: RePEc:mup:actaun:actaun_2011059020251
    DOI: 10.11118/actaun201159020251
    as

    Download full text from publisher

    File URL: http://acta.mendelu.cz/doi/10.11118/actaun201159020251.html
    Download Restriction: free of charge

    File URL: http://acta.mendelu.cz/doi/10.11118/actaun201159020251.pdf
    Download Restriction: free of charge

    File URL: https://libkey.io/10.11118/actaun201159020251?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Christopher Ittner, 2008. "Does measuring intangibles for management purposes improve performance? A review of the evidence," Accounting and Business Research, Taylor & Francis Journals, vol. 38(3), pages 261-272.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Deshani C. Hettiarachchi, 2023. "Effects of Non-Financial Performance Management and Risk Disclosures on Not-For-Profit Financial Vulnerability: Evidence from The Australian Aged Care Not-For-Profit Sector," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 22(4), pages 723-745, December.
    2. Lino Cinquini & Rosa Alba Miraglia & Riccardo Giannetti, 2016. "Editoriale. Strumenti di gestione dei costi e misure di performance negli attuali contesti competitivi," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2016(2), pages 5-14.
    3. Fiaz Ahmad Sulehri & Muhammad Rizwan & Ismail Senturk, 2022. "The Impact Of Intangible Assets And Firm-Specific Factors On Cash Flows: An Empirical Analysis Of Public Firms Listed On The Pakistan Stock Exchange," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 11(3), pages 16-26.
    4. Rita Lamboglia & Giuseppe D'Onza, 2013. "Un modello di gestione del rischio reputazionale. Dall?identificazione al fronteggiamento," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2013(3), pages 7-34.
    5. Paul Amadieu & Jean-Laurent Viviani, 2010. "Intangible effort and performance: the case of the French wine industry," Agribusiness, John Wiley & Sons, Ltd., vol. 26(2), pages 280-306.
    6. Douglas Skinner, 2008. "Accounting for intangibles – a critical review of policy recommendations," Accounting and Business Research, Taylor & Francis Journals, vol. 38(3), pages 191-204.
    7. Elena Shakina & Angel Barajas, 2014. "The Changing Role Of Intellectual Resources During The Economic Crisis Of 2008-2009," HSE Working papers WP BRP 17/MAN/2014, National Research University Higher School of Economics.
    8. Omar Alsinglawi & Mohammad Aladwan, 2018. "The Effect of Invisible Intangibles on Volatility of Stock Prices," Modern Applied Science, Canadian Center of Science and Education, vol. 12(11), pages 290-290, November.
    9. Selena Aureli & Enrico Supino, 2015. "Web reputation and performance measurement systems in the hotel industry: An exploratory study in Italy," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2015(2), pages 41-64.
    10. Bénet, Nathalie & Deville, Aude & Raïes, Karine & Valette-Florence, Pierre, 2022. "Turning non-financial performance measurements into financial performance: The usefulness of front-office staff incentive systems in hotels," Journal of Business Research, Elsevier, vol. 142(C), pages 317-327.
    11. Anne Wyatt & Hermann Frick, 2010. "Accounting for Investments in Human Capital: A Review," Australian Accounting Review, CPA Australia, vol. 20(3), pages 199-220, September.
    12. Kalinowski T. Bartosz, 2016. "Analysis of business process maturity and organisational performance relations," Management, Sciendo, vol. 20(2), pages 87-101, December.
    13. Schulke, Arne, 2020. "The Balanced Scorecard - Dinosaur or Giant?," IU Discussion Papers - Business & Management 6/2020, IU International University of Applied Sciences.
    14. Robert Watson, 2010. "Small and medium size enterprises and the knowledge economy," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 18(2), pages 131-143, May.
    15. Elisabeth Dedman & Sulaiman Mouselli & Yun Shen & Andrew W. Stark, 2009. "Accounting, Intangible Assets, Stock Market Activity, and Measurement and Disclosure Policy—Views From the U.K," Abacus, Accounting Foundation, University of Sydney, vol. 45(3), pages 312-341, September.
    16. Vijaya Murthy & Jan Mouritsen, 2011. "The performance of intellectual capital," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 24(5), pages 622-646, June.
    17. Tommaso Pucci & Christian Simoni & Lorenzo Zanni, 2015. "Measuring the relationship between marketing assets, intellectual capital and firm performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(3), pages 589-616, August.
    18. Sebastian Janssen & Klaus Moeller & Marten Schlaefke, 2011. "Using performance measures conceptually in innovation control," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 22(1), pages 107-128, September.
    19. Haishi Li & Youxue Jiang & Anam Ashiq & Asma Salman & Mohammad Haseeb & Malik Shahzad Shabbir, 2023. "The role of technological innovation, strategy, firms performance, and firms size and their aggregate impact on organizational structure," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 2010-2020, June.
    20. Luminita Enache & Anup Srivastava, 2018. "Should Intangible Investments Be Reported Separately or Commingled with Operating Expenses? New Evidence," Management Science, INFORMS, vol. 64(7), pages 3446-3468, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mup:actaun:actaun_2011059020251. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ivo Andrle (email available below). General contact details of provider: https://mendelu.cz/en/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.