Evaluation of mining companies based on benchmarking

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27350%2F21%3A10248557" target="_blank" >RIV/61989100:27350/21:10248557 - isvavai.cz</a>

Result on the web

<a href="https://actamont.tuke.sk/ams2021.html" target="_blank" >https://actamont.tuke.sk/ams2021.html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.46544/AMS.v26i4.11" target="_blank" >10.46544/AMS.v26i4.11</a>

Result language

angličtina

Original language name

Evaluation of mining companies based on benchmarking

Original language description

Managerial and investment decision quality is influenced, inter alia, by availability of high-quality information. The sources of such information may be different analyses and studies, including company benchmarking. However, such analyses and studies often have in-company character, which makes access to some information on national economy difficult. To deal with this problem in the mining sector, the article deals with benchmarking of 30 mining companies operating in the Czech Republic. Based on the size of mining, the first four companies in each group of minerals, or more precisely subgroup of minerals (hard coal, brown coal, oil, natural gas, brick raw material, building stone, decorative stone, gravel and sand, limestone, kaolin, clays and bentonite) were selected for the benchmarking project. Benchmarking was conducted for the period from 2011 to 2018 using six financial analysis indicators: ROA, inventory turnover, total debt, immediate liquidity, LTTA productivity, net working capital turnover. Individual benchmarks do not have the same weight and weights were determined by AHP. The evaluation was done using mathematical-statistical method of weighted sum approach. The benchmarking showed that the top 3 mining companies are Cement Hranice, akciová společnost (1) - limestone; Green Gas DPB, a.s. (2) - energy raw materials (natural gas); and EUROVIA Kamenolomy, a.s. (3) - building materials (building stone). At the opposite end of the list there are: Cihelna Hodonín, s.r.o. (30) - building materials (brick-making material); Sedlecký kaolin, a.s. (29) - kaolin; and CEMEX Sand, k.s. (28) - building materials (gravel and sand). Furthermore, it was found that: (i) the economic success of the mining undertaking is not related to the volume of production or indebtedness; (ii) limited liability companies are more economically successful than joint stock companies. It has not been proven unequivocally that specialization in a single extracted material is a better strategy than extracting more mineral resources.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

—

Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Acta Montanistica Slovaca

ISSN

1335-1788

e-ISSN

—

Volume of the periodical

26

Issue of the periodical within the volume

4

Country of publishing house

SK - SLOVAKIA

Number of pages

17

Pages from-to

732-747

UT code for WoS article

000555106000004

EID of the result in the Scopus database

2-s2.0-85125452076