Open Access Article SciPap-987
Designing an Advanced PPE Model to Measure Performance and Efficiency of Slovak Spa Enterprises
by Veronika Čabinová 1,* and Erika Onuferová 2

1 Faculty of Management, University of Prešov in Prešov, Konštantínova 16, Prešov 080 01, Czechia

2 Faculty of Management, University of Prešov in Prešov, Konštantínova 16, Prešov 080 01, Czechia

* Authors to whom correspondence should be addressed.

Abstract: Each model for measuring performance and prediction is different as it uses different mathematical approaches and works with different indicators. In the era of rapidly changing economic environment, the standard methods for measuring financial performance and assessing financial health are less adequate. Most authors focus on enhancing the predictive ability of original models by responding appropriately to the existing changed economic environment as the identification, increasing and managing enterprise performance and efficiency represent a key tool of today's competitive struggle. The objective of the paper is to create and then apply in practice a new innovative 3D model (PPE model) evaluating the current financial position of Slovak spa companies (P – positon), their future development prognosis (P – prognosis) as well as their efficiency (E – efficiency). The aim of the paper is to identify and implement traditional key indicators, predictive models and efficiency indicators within each of the model dimensions while respecting sectoral characteristics and financial particularities of Slovak spa enterprises. Creating a PPE model will help to better identify the current financial position of the sampled enterprises and, in this way, it will be able to reveal the causes hindering the development of their financial performance to a more accurate extent.

Keywords: Ppe Model, Financial Health, Bankruptcy Models, Enterprise Efficiency, Spa Health Sector

JEL classification:  C0 - General,   C53 - Forecasting and Prediction Methods • Simulation Methods,   M21 - Business Economics,   M31 - Marketing

SciPap 2019, 27(2), 987

Received: 21 January 2019 / Accepted: 26 June 2019 / Published: 30 August 2019