ECONOMIC-MATHEMATICAL NATURE OF THE HGN MODEL CONCEPT AS A TOOL FOR MEASURING PERFORMANCE OF ENTERPRISES

• Authors: Hyránek Eduard , Grell Michal , Nagy Ladislav , Ďurinová Ivona
• Languages of publication: EN

Abstracts

EN

The article talks about the newly-conceived HGN model based on ratio indicators. The main characteristic of the model is a synthetic indicator based on “refining” chosen financial efficiency indicators by separating out impacts measured by using chosen efficiency decreasing indicators. We identify and present a way to determine the minimum limits of the synthetic indicator characterizing the performance of a non-financial enterprise. We apply both the classical and tolerance approach to sensitivity analysis in a linear optimization model. We demonstrate the performance measurement possibilities provided by the gradual improvement of the HGN model by designing two versions of the model.

Keywords

EN

ENTERPRISE PERFORMANCE; HGN MODEL; EFFICIENCY INDICATORS; RATIO OUTLIERS; LINEAR OPTIMIZATION MODEL; SENSITIVITY ANALYSIS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2018
• Volume: 66
• Issue: 3
• Pages: 309 – 325

Contributors

author

Hyránek Eduard

• University of Economics in Bratislava, Faculty of Business Management, Dolnozemská cesta 1/b, 852 35 Bratislava, Slovak Republic

author

Grell Michal

author

Nagy Ladislav

author

Ďurinová Ivona