IDEAS home Printed from https://ideas.repec.org/a/ora/journl/v33y2024i1p297-303.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/11/AUOES.July_.2024.30.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    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. Małgorzata Tarczynska-Luniewska & Iwona Bak & Uma Shankar Singh & Guru Ashish Singh, 2022. "Economic Crisis Impact Assessment and Risk Exposure Evaluation of Selected Energy Sector Companies from Bombay Stock Exchange," Energies, MDPI, vol. 15(22), pages 1-25, November.
    2. Massimo FLORIO, 2012. "The real roots of the great recession: unsustainable income distribution," Departmental Working Papers 2012-01, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    3. Andrei GIURESCU, 2019. "The global context of economic crises and cohesion funds in the EU," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(618), S), pages 37-50, Spring.
    4. Rodolfo Signorino, 2011. "Economics in the Mirror of the Financial Crisis," Chapters, in: Steven Kates (ed.), The Global Financial Crisis, chapter 11, Edward Elgar Publishing.
    5. Ben Fine & Elisa Van Waeyenberge, 2013. "A Paradigm Shift that Never Will Be?: Justin Lin’s New Structural Economics," Working Papers 179, Department of Economics, SOAS University of London, UK.
    6. Hodelin, Reynaldo Senra, 2022. "Statistical disclosure and economic growth: What is the nexus?," World Development, Elsevier, vol. 160(C).
    7. repec:agr:journl:v:1(618):y:2019:i:1(618):p:37-50 is not listed on IDEAS
    8. Ding Chen & Umar Muhammad Gummi & Junping Wang, 2024. "Does Renminbi internationalization matter for petroleum security in China? Evidence from a disaggregate analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 961-974, January.
    9. Xavier Timbeau, 2012. "The fireman and the architect," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 1, pages 8-32, Edward Elgar Publishing.
    10. Seles, Bruno Michel Roman Pais & Lopes de Sousa Jabbour, Ana Beatriz & Jabbour, Charbel Jose Chiappetta & Latan, Hengky & Roubaud, David, 2019. "Do Environmental Practices Improve Business Performance Even in an Economic Crisis? Extending the Win-Win Perspective," Ecological Economics, Elsevier, vol. 163(C), pages 189-204.
    11. Anna Ruščáková & Jozefína Semančíková, 2016. "European Debt Crisis: Theoretical And Empirical Investigation Of External Imbalances As One Of Its Main Causes," Poslovna izvrsnost/Business Excellence, Faculty of Economics and Business, University of Zagreb, vol. 10(2), pages 191-207.
    12. Ines Abdelkafi & Sahar Loukil & YossraBen Romdhane, 2023. "Economic Uncertainty During COVID-19 Pandemic in Latin America and Asia," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1582-1601, June.
    13. Uribe Gil, Jorge Mario & Ulloa Villegas, Inés Maria, 2012. "La medición del riesgo en eventos extremos. Una revisión metodológica en contexto," Revista Lecturas de Economía, Universidad de Antioquia, CIE, June.
    14. Xavier Ragot, 2012. "The economics of the laboratory mouse: where do we go from here?," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 7, pages 181-194, Edward Elgar Publishing.
    15. Khaled Guesmi & Salma Fattoum, 2014. "Measuring contagion effects between crude oil and OECD stock markets," Working Papers 2014-90, Department of Research, Ipag Business School.
    16. Filis, George & Degiannakis, Stavros & Floros, Christos, 2011. "Dynamic correlation between stock market and oil prices: The case of oil-importing and oil-exporting countries," International Review of Financial Analysis, Elsevier, vol. 20(3), pages 152-164, June.
    17. Mabrouk, Samir & Saadi, Samir, 2012. "Parametric Value-at-Risk analysis: Evidence from stock indices," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(3), pages 305-321.
    18. Wan, Junmin, 2018. "Prevention and landing of bubble," International Review of Economics & Finance, Elsevier, vol. 56(C), pages 190-204.
    19. repec:hal:spmain:info:hdl:2441/6ggbvnr6munghes9oeq948ubh is not listed on IDEAS
    20. Khaled GUESMI & Salma FATTOUM, 2014. "The Relationship between Oil Price and OECD Stock Markets: A Multivariate Approach," Economics Bulletin, AccessEcon, vol. 34(1), pages 510-519.
    21. Csaba, László, 2011. "Milyen a jó közgazdaságtan? Töprengések Wagener könyve kapcsán. Hans-Jürgen Wagener: Wirtschaftsordnung im Wandel. Zur Transformation, 1985-2010. Metropolis Verlag, Marburg, 2011, 286 o [What is go," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 477-482.
    22. shafaai, Shafizal & Masih, Mansur, 2013. "Stock market and crude oil relationship: A wavelet analysis," MPRA Paper 62363, University Library of Munich, Germany.

    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

    Statistics

    Access and download statistics

    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:ora:journl:v:33:y:2024:i:1:p:297-303. 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: Catalin ZMOLE The email address of this maintainer does not seem to be valid anymore. Please ask Catalin ZMOLE to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feoraro.html .

    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.