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A Comparative Analysis of Modern Performance Methods in Economic Practice

Author

Listed:
  • Veronika Cabinova
  • Erika Onuferova
  • Peter Gallo Jr.
  • Peter Gallo
  • Juraj Gallo
Abstract
The main objective of this paper was to analyse the performance and efficiency development of the Slovakia's spa sector over the years 2013 – 2017 by applying the selected modern methods of business performance evaluation – the Economic Value Added, the Return On Net Assets, the Creditworthy Model, the Simplex Linear Programming Method and examine whether the application of these modern models provides an identical view of the financial performance of the sector surveyed. The intention of the paper was also to reveal statistically significant interconnections between the key EVA indicator and other modern methods. In the case of confirmation of a strong correlation we focused on evaluation the degree of identity with the results of above-mentioned applied methods. Despite the fact that these models evaluate performance on the basis of different input data and indicators, year 2015 was identically identified as the best-performing one, vice-versa, the worst financial performance of enterprises was recorded in 2016 within the application of all methods.

Suggested Citation

  • Veronika Cabinova & Erika Onuferova & Peter Gallo Jr. & Peter Gallo & Juraj Gallo, 2018. "A Comparative Analysis of Modern Performance Methods in Economic Practice," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 14(4), pages 85-96.
    • Handle: RePEc:mje:mjejnl:v:14:y:2018:i:4:p:85-96
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    References listed on IDEAS

    as
    1. Dana Kiselakova & Jarmila Horvathova & Beata Sofrankova & Miroslava Soltes,, 2015. "Analysis Of Risks And Their Impact On Enterprise Performance By Creating Enterprise Risk Model," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 11(2), pages 50-61, June.
    2. Zuzana Virglerova & Ludmila Kozubikova & Sergej Vojtovic, 2016. "Influence of selected factors on financial risk management in SMEs in the Czech Republic," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 12(1), pages 21-36.
    3. Vincent Soltes & Beata Gavurova, 2015. "Modification Of Performance Measurement System In The Intentions Of Globalization Trends," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 11(2), pages 160-170, June.
    4. repec:mje:mjejnl:v:12:y:2017:i:1:p:125-140 is not listed on IDEAS
    5. Rastislav Rajnoha & Petr Novak & Martina Merkova, 2016. "Relationships Between Investment Effectiveness Controlling and Business Performance," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 12(2), pages 29-44.
    6. Veselin Draskovic & Evgeny Popov & Kestutis K. Peleckis, 2017. "Modelling of Institutional Changes in Transition Countries - the Gap Between the Theory and Practice," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(1), pages 125-140.
    7. Libuše Svobodová, 2015. "Modern indicators of financial performance of the company," Ekonomika a Management, Prague University of Economics and Business, vol. 2015(2).
    8. repec:mje:mjejnl:v:12:y:2017:i:3:p:175-185 is not listed on IDEAS
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