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Empirical Analysis Of Firms' Value Creation In The Context Of Crises

Author

Listed:
  • Anita KISS

    (Institute of Accounting and Finance, Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary)

  • Orsolya Tünde NAGY

    (Institute of Accounting and Finance, Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary)

Abstract

In today’s highly competitive world, one of the most important business objectives for owners is to generate shareholder value and wealth. In order for an investor to know how to effectively deliver wealth growth, it is important to know the value creators of the business. A number of studies have been published in the management literature to identify the value creators of ownership. This article draws an essence from the literature reviewed, which are identified as key drivers of value creation, which are presented in the first half of the study. In the second logical part of the paper, the characteristics, causes and major crisis episodes of the 2007-2008 global financial crisis and the COVID-19 crisis are presented. In the methodological part, the panel regression model is used to analyse the 702 firms in the database. The main objective of the study is to answer the following questions: which are the most important value drivers and how the influence of these value drivers changes in the aftermath of the COVID-19 crisis.

Suggested Citation

  • Anita KISS & Orsolya Tünde NAGY, 2024. "Empirical Analysis Of Firms' Value Creation In The Context Of Crises," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 33(1), pages 297-303, July.
    • Handle: RePEc:ora:journl:v:33:y:2024:i:1:p:297-303
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    References listed on IDEAS

    as
    1. Török, Ádám & Konka, Boglárka & Nagy, Andrea Magda, 2023. "A koronavírus-járvány a közgazdasági szakirodalomban. Egy új határterület tudománymetriai elemzése [The coronavirus pandemic in the economics literature. The scientometric analysis of a new discipl," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 284-304.
    2. Joseph E Stiglitz, 2009. "The Current Economic Crisis and Lessons for Economic Theory," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 35(3), pages 281-296.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    company valuation; 2007-2008 global financial crisis; COVID-19 crisis; panel regression model;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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