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VALUE GENERATORS IN METALLURGICAL INDUSTRY
Metal industry product, especially steel, represent a key raw material in the Czech Republic for other industries (automotive, mechanical engineering, energy industry or electronics industry). Between 2008 and 2010, the financial crisis affected a number of industries, including metal industry. This caused a decrease of demand for metal industry companies, which implied the fall in their value and affected Czech economy. In today´s constantly changing economic environment, there is a high risk of a fall in the value and performance of companies. Changes in company value can be predicted based on monitoring the company value generators. The objective of the contribution is to identify value generators of companies operating in mining in the CR in 2016. For this purpose, the data of complete financial statements for the given year were used. For each company, EVA Equity value was calculated. Practical methodology for which the value generators were identified was created. For the identification of the value generators, sensitivity analysis within artificial neural networks was used. A total of 13 financial statements items were chosen that are greatly involved in creating a metal industry company value in the Czech Republic.
Release: 2019/2 Pages: 17-23 JEL classification: G32, C45, M21
DOI:
Keywords: company, metal industry, value generators, performance, EVA Equity
Section: ECONOMICS AND ECONOMY
Contacts:
Ing. Jakub Horák
Faculty of Operation and Economics of Transport and Communications
University of Žilina, Univerzitná 8215/1
010 26 Žilina, Slovakia
e-mail: horak@mail.vstecb.cz
Ing. Veronika Machová, MBA
School of Expertness and Valuation
Institute of Technology and Business in České Budějovice, Okružní 517/10
370 01 České Budějovice
Czech Republic
e-mail: machova@mail.vstecb.cz
Ing. Tomáš Krulický, BBA
Faculty of Operation and Economics of Transport and Communications
University of Žilina, Univerzitná 8215/1
010 26 Žilina, Slovakia
e-mail: krulicky@mail.vstecb.cz
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