Abstract
This article is focused on determination of the most significant economic indicators influencing corporate sustainability performance. Corporate sustainability performance is a multidimensional concept based on the original idea of sustainable development, replacing the traditional understanding of corporate performance only as capital appreciation for owners (shareholders). Compared to the original concept of sustainable development which consists of environmental, social and economic performance, the so-called triple-bottom-line, it is broaden to the responsibilities and the impact of Corporate Governance on the corporate performance. The basic set of economic indicators has been constructed from a synthesis of resources developed by international organizations (Global Reporting Initiative, International Federation of Accountants) and research among manufacturing companies in the Czech Republic. The basic set of twenty-five key indicators is divided into seven groups: Costs, Investments, Economic Results, Asset and financial resources utilization, Suppliers reliability, Penalties and RandD expenses. Basic set of indicators was presented to 23 top-managers who quantified the potential effect of each indicator to the success and sustainability of their companies. Through the methods of descriptive statistics knowledge of the particularities of each indicator was obtained. Correlation analysis and factor analysis were applied in order to eliminate information duplicity and dimensionality reduction. The result is a reduction in the number of economic indicators, so that the loss of information on the influence of the original indicators on the corporate sustainability is minimized. Corporate sustainability indicators are a tool for measuring and managing progress towards sustainability goals and environmental, social and economic impacts.
Highlights
Corporate economic performance indicators are going to remain one of the main interests of owners and inves tors
The basic set of economic performance indicators was de fined on the basis of synthesis of knowledge gained in the pre-research stage (results published in Kocmanova and Docekalova (2012)) and approaches of Global Reporting Initiative and International Federation of Accountants
Cooperation with suppliers is an important factor for all companies of manufacturing industry and that is why indicator EN5 – Supplier reliability has been included in the basic set of indicators
Summary
Corporate economic performance indicators are going to remain one of the main interests of owners and inves tors. Together with the information about cor porate governance, the environmental and social factors, it creates a complex picture of any company and it has its significance for other key shareholders, it brings transpa rency and sustainability into business (Kocmanova et al 2011). The goal of this article is to define the most significant economic indicators of corporate performance influencing the corporate sustainability. Corporations are attempting to reach long-term benefits by implementing sustainability related activities into the very core of corporate strategy (Chabowski et al 2011; Cruz et al 2006). In general it can be concluded that corporations implement these sustainability techniques because they either feel obliged to do so, they want to do so or they are forced to do so (Van Marrewijk 2003).
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