Relations between investment evaluation method and performance in manufacture: Case of Slovakia

• Autorzy: Merkova M. , Drabek J. , Lis W.
• Języki publikacji: EN

Abstrakty

EN

Economic effectiveness of investment can be evaluated by several approaches and various methods or indicators can be used in companies. The objective of presented article was to analyze selected methods and groups of indicators in investment effectiveness valuation and their possible impact on better business performance. We asked about four types of methods in questionnaire section aimed in investment effectiveness valuation indicators. Discounted cash flow valuation is only one of several ways of approaching valuation, however, it is the foundation of all other valuation approaches, so we are mainly interested in discounted cash-flow indicators. Presented part of the research has focused on manufacturing enterprises in Slovakia. Our research has statistically confirmed that better business performance is significantly dependent on use of certain investment valuation methods.

• Wydawca: -
• Czasopismo: Intercathedra
• Rocznik: 2016
• Tom: 32
• Numer: 3
• Opis fizyczny: p.46-57,fig.,ref.

Twórcy

autor

Merkova M.

• Department of Enterprise Management, Faculty of Wood Sciences and Technology, Technical University in Zvolen, T.G.Masaryka 24, 960 53, Zvolen, Slovak Republic

autor

Drabek J.

• Department of Enterprise Management, Faculty of Wood Sciences and Technology, Technical University in Zvolen, T.G.Masaryka 24, 960 53, Zvolen, Slovak Republic

autor

Lis W.

• Department of Economic and Wood Industry Management, Poznan University of Life Sciences, Wojska Polskiego 38/42, 60-627 Poznan, Poland

Bibliografia

• 1. Baum, A.E. & Hartzell, D. (2012). Global Property Investment: Strategies, Structures, Decisions. Wiley-Blackwell.
• 2. Brealey M.A. & Myers, S.C. (1999). Financial Theory and Corporate Policy. Praha: East Publishing.
• 3. Brealey M.A. & Myers, S.C. (2003). Principles of Corporate finance. New York: Mc Braw Hill.
• 4. Damodaran, A. (2012). Investment valuation, tools and techniques for determining the value of any asset, 3rd ed. New Jersey: John Wiley & Sons.
• 5. Drábek J. & Jelačić, D. (2007). Investment projects. Zvolen: Nikara. 65 p.
• 6. Drábek J. & Polách J. (2008). Real and Financial Investment of Companies. Zvolen: Technical University in Zvolen, (Chapter 4).
• 7. Everitt, B. S. (1977). The analysis of contingency tables. London: Chapman & Hall.
• 8. Iversen, G. R., & Norpoth, H. (1976). Analysis of Variance.
• 9. Levene, H. (1960). Contributions to Probability and Statistics: Essays in Honor of Harold Hotelling. Stanford University Press. pp. 278–292.
• 10. Levy, H. & Sarnat, M. (1986). Capital Investment and Financial Decisions. New Jersey: Prentice-Hall.
• 11. Merková M., Drábek J. & Polách, J. (2011). Impact of Investment on Labour Productivity Growth in Wood Processing Industry in Slovak Republic. Finance and the Performance of Firms in Science, Education and Practice. International Scientific Conference, p.324-332.
• 12. Merková, M., Drábek, J. & Jelačic, D. (2012). Determinants of Effects of Foreign Direct Investment in Terms of Slovak Republic and Wood-Processing Industry of Slovakia. Drvna industrija 63 (2), 129-142. doi:10.5552/drind.2012.1136
• 13. Panik, M. J. (2005). Advanced Statistics from Elementary Point of View. London: Elsevier Academic Press.
• 14. Pearson, K. (1904). On the Theory of Contingency and Its Relation to Association and Normal Correlation. London: Dulau & Company.
• 15. Polách, J. Drábek, J., Merková, M. & Polách, J. Jr. (2012). Real and Financial Investment. 1st ed. Praha : C. H. Beck. 264 p.
• 16. Questionnaire Survey of the Grant Project of the Ministry of Education Nr. 1/0089/11 - Measurement and performance management of the wood industry companies in SR.
• 17. Rajnoha, R. et al. (2013). Measurement and Management of Business Performance. Zvolen: Technical University in Zvolen.
• 18. Rajnoha, R. Jankovský, M. & Merková, M. (2014). Economic comparison of automobiles with electric and with combustion engines: An analytical study. Procedia - social and behavioral sciences 109, 225-230. doi:10.1016/j.sbspro.2013.12.449
• 19. Renkema, T. J. & Berghout, E. W. (1997). Methodologies for information systems investment evaluation at the proposal stage: a comparative review. Information and Software Technology, 39(1), 1-13. doi: 10.1016/0950-5849(96)85006-3
• 20. Shapiro, S. S., & Wilk, M. B. (1965). An analysis of variance test for normality (complete samples). Biometrika 52, 591-611.
• 21. Sujová, A. & Marcineková, K. (2015). Modern Methods of Process Management Used in Slovak Enterprises. Procedia-Economics and Finance Journal 23, 889 - 893. doi:10.1016/S2212-5671(15)00381-0
• 22. Sujová, A., Rajnoha, R. & Merková, M. (2014). Business process performance management principles used in Slovak enterprises. Procedia - social and behavioral sciences 109, 276-280. doi:10.1016/j.sbspro.2013.12.457
• 23. Ward, J., Taylor, P. & Bond, P. (1996). Evaluation and realisation of IS/IT benefits: an empirical study of current practice. European Journal of Information Systems, 4(4), 214-225. doi:10.1057/ejis.1996.3