Model of Enterprise Financial Performance Measurement in Uncertain Market Environment of Central Europe

Eduard Hyránek, Michal Grell, Ladislav Nagy, Ján Londák


Currently, enterprises in continuing difficult conditions of the global economic and financial crisis, are trying to continually improve their competence on the market, maintain and achieve profits and maximize the enterprise market value. Therefore, they are looking for different ways to achieve these results by reduction, or elimination of business risk and then to measure its success. The world is at the time, when the information becomes an important tool in achieving these business objectives. In this paper, we present a newly-outlined model of measuring the financial performance of the enterprise. We construct complex synthetic indicator, which reflects the effect of comparative financial indicators of efficiency and difficulty. Calculated optimal intervals are verified on the financial results of selected enterprises and some are compared with the Altman Z-score. The paper aims to elucidate a creation and verification of the HGN model as model of enterprise financial performance measurement in uncertain market environment of Central Europe.

DOI: 10.5901/mjss.2016.v7n3p97

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Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)

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