Udržitelná hodnota naftových společností v České Republice a na Slovensku
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2012
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Vysoké učení technické v Brně, Fakulta podnikatelská
Abstract
Purpose of the article: Sustainable Value Added was introduced as a whole new concept in 2004. Since then,
it has gained popularity among some scholars, mostly of the West-European origin. In this article we implement
this method further on the East as we see a huge gap in using modern ways of measuring the environmental
impact of companies. In particular, we aim at the industry considered one of the “dirtiest” – oil industry.
Methodology: This paper presents results of an analysis of sustainable value added created by analysed companies
in six different environmental resources: carbon dioxide emissions, nitrogen oxide emissions, sulphur
oxide emissions, waste generated, water used and volatile organic compound emissions, respectively. Value
created by these employed resources is compared with the benchmark value of the European Union.
Scientific aim: As crucial industry generating environmental pollution as a negative externality, we consider
manufacture of plastics in primary forms (NACE code 1920). In this paper we determine whether Slovnaft,
Unipetrol and Česká rafinérská, as the three biggest companies according to value added in the Czech Republic
and Slovakia in this industry, contribute positively or negatively to value creation on the European Union
level.
Findings: The results show that in 2010 Slovnaft performance failed to fulfil default target though it created
the greatest (albeit negative) value added in financial terms. Other Czech companies are, surprisingly, worse
off but not by much.
Conclusions: The concept of Sustainable Value Added takes another point of view to the problematic issues
of companies’ pollution. Although it determines how well (or bad for that matter) a particular company uses
its resources compared to a benchmark, it does not judge whether using the total capital in a company can be
considered as sustainable or not. Nevertheless, this method is suitable when used for analysis of contribution
to the sustainability.
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Trendy ekonomiky a managementu. 2012, VI, č. 12, s. 115-123. ISSN 1802-8527.
http://www.fbm.vutbr.cz/cs/fakulta/vedecky-casopis/specialni-cislo
http://www.fbm.vutbr.cz/cs/fakulta/vedecky-casopis/specialni-cislo
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Peer-reviewed
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en
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© Vysoké učení technické v Brně, Fakulta podnikatelská