Criteria Innovations in Evaluation of Transparency and Responsibility in Corporate Governance

Considering corporate governance, contemporary business entities are seen as more complex structures and it can lead to various kinds of dishonesty and abuses. Today more than earlier transparency and responsibility is desired feature of corporate governance. Nowadays in the Czech Republic number of market failures in the sphere of corporate governance increases and it has a negative impact not only on the state economy but generally on society. Regarding mentioned situation new innovations of the criteria used for transparency and responsibility evaluation started to appear. In corporate governance and management, which are based on team work of many persons, a lot of variables determining the results appear. A man should accept a principle of responsibility not only for himself but also for entrusted activities and things as self-evident claim for himself, so that the others can rely on him. That is why responsibility is so sought-after characteristic of managers at the top of the companies as well as on the lower positions. Innovative criteria should be a part of corporate social responsibility of business entities participating in the whole state society functioning. The paper brings a holistic view of the question of innovativeness of criteria while evaluating transparency and responsibility in the chosen Czech companies. In the current stage of development of human society characteristics of transparency and responsibility should be a matter of course due to economic and moral benefits. The criteria will be empirically examined, method of abstraction will be also used in order to analyse the data that will enable to penetrate into phenomenon and determine its main characteristics. At the same time on the basis of literature review and business practice from the Czech companies criteria for companies' transparency and responsibility evaluation in corporate governance will be proposed. The proposed criteria will be applied in chosen enterprise.