Evaluation of mining companies based on benchmarking

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Evaluation of mining companies based on benchmarking

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Evaluation of mining companies based on benchmarking

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2021

Kód důvěrnosti údajů

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

Název periodika

Acta Montanistica Slovaca

ISSN

1335-1788

e-ISSN

—

Svazek periodika

26

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

SK - Slovenská republika

Počet stran výsledku

17

Strana od-do

732-747

Kód UT WoS článku

000555106000004

EID výsledku v databázi Scopus

2-s2.0-85125452076