Publication detail

Corporate Governance and Volutary Reporting in the Czech Republic Business Companies

KOCMANOVÁ, A. DOČEKALOVÁ, M. HORNUNGOVÁ, J.

Original Title

Corporate Governance and Volutary Reporting in the Czech Republic Business Companies

Type

conference paper

Language

English

Original Abstract

Report is focused on the relationship of Corporate Governance (CG) and voluntary reporting in small and medium business companies in the Czech Republic. Corporate Governance is a global problem. The situation in the Czech Republic is such that companies are very reluctant to accept good governance models and it often leads to reduced performance and their competitiveness in the market compared to foreign companies. The financial crisis also revealed shortcomings of the CG, and on its basis the OCED has issued a number of recommendations, one of these recommendations is to improve monitoring and enforcement of existing national codes in the field of management and control of companies, i.e. reporting. The aim of this report was to examine how the CG really approaches to voluntary reporting and what information the interested stakeholders ask for. Empirical research was conducted at 86 business companies, which characterized the essence of the corporate governance and it further closer investigated the importance of CG for the voluntary reporting, assessment of the types and forms of reports, and also transparent disclosure of information about the company. As a conclusion of the research it can be stated that most of small and medium-sized business companies in the Czech Republic took the path of smallest resistance and put into practice only minimal requirements, demanded by the law, for the CG, reporting is supported by CG only in minimal extent. Reporting should be comparable across all companies, and thus useful for mainstream investment analyses, it is important that environmental, social and governance (ESG) information is transformed into consistent units and is presented in a balanced and coherent manner.

Keywords

Corporate governance, reporting, OECD Principles, Global Reporting Initiative (GRI), business companies,

Authors

KOCMANOVÁ, A.; DOČEKALOVÁ, M.; HORNUNGOVÁ, J.

RIV year

2011

Released

14. 11. 2011

Publisher

International Business Information Management Association (IBIMA)

Location

Milan, Italy

ISBN

978-0-9821489-6-9

Book

Creating Global Competitive Economies

Edition

1

Edition number

1

Pages from

1557

Pages to

1571

Pages count

14

BibTex

@inproceedings{BUT74970,
  author="Alena {Kocmanová} and Marie {Pavláková Dočekalová} and Jana {Hornungová}",
  title="Corporate Governance and Volutary Reporting in the Czech Republic Business Companies",
  booktitle="Creating Global Competitive Economies",
  year="2011",
  series="1",
  number="1",
  pages="1557--1571",
  publisher="International Business Information Management Association (IBIMA)",
  address="Milan, Italy",
  isbn="978-0-9821489-6-9"
}