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The paper analyses the relationship between the social, environmental and economic performance and the firm market value as determined by the market value of shares in manufacturing companies. Empirical research has been verified according to the EU criteria in 87 joint-stock companies in the Czech Republic with more than 250 employees. Data was acquired by empirical research in the Czech Republic, which was completed in 2011-2015. The objective of the paper is to determine, on the basis of established hypotheses, whether the increased social and environmental performance increases the economic performance and the firm market value. Empirical research has shown that social performance has an impact on economic performance as well as on the market value of the share, that is, on the firm market value. Environmental performance has no significant effect on economic performance or on the market value of the share. Research results can provide investors with information that they only appreciate if social and environmental tools introduced into joint-stock companies increase economic performance while increasing the market value of the company. The paper deals with the effect of sustainable performance on the market price of shares. The empirical research analysis was conducted for 87 joint-stock companies in the Czech Republic for the period 2011-2015. The aim of the paper is to determine whether the sustainable performance of non-listed joint stock companies increases economic performance and, at the same time, the market price of company shares. This effect was verified based on established hypotheses using linear regression models. The Firm Market Value of Shares was determined using the comparable enterprise method. In the paper, sustainable company performance is measured independently on the basis of an assessment of the environmental, social and economic indicators of manufacturing companies as compared to companies in the same industry. Empirical research has implied that social performance has an effect on both the economic performance and the market price of shares. Environmental performance has no significant impact on the economic performance or on the market price of shares. The results of the empirical research may provide investors with important information about the sustainable performance of joint stock companies whether their investment in social and environmental instruments will increase their economic performance, as well as the market price of shares.

The paper analyses relations and impacts between the corporate governance and the Firm Market Value and Firm Risk, including the financial performance in manufacturing industry companies. The empiric research was verified in 118 joint stock companies in the Czech Republic with over 250 employees according to the EU criterion. The data was acquired by empirical research in the Czech Republic, completed in 2012-2016. The aim of the paper is to propose a suitable model of Good Corporate Governance for unlisted Czech companies in the Czech Republic and to identify its impacts on the Firm Market Value, the Firm Risk and the Financial Performance. The methodology of research is based on modelling, using the structural equation modelling (SEM) for modelling the interrelationships and impacts between the GCG performance, the Firm Market Value, the Firm Risk and the Financial Performance. The empirical research has shown that responsible corporate governance has an impact on the Firm Market Value, both through the financial performance and through the stable risk. The investors are thus suggested that if good corporate governance and regulatory measures are introduced, thereby strengthening the corporate financial performance and the stable Firm Risk, then it will have a significant impact on the Firm Market Value.