Verification of the Performance Model in Selected Companies in the Mining Industry

at four selected mining companies from the results of 2020. We
abstract from the predictive ability of the HGN model. The analysis
focuses on the impact of one of the six indicators affecting the
efficiency and overall financial performance of the company to
generalize the findings of this analysis. We focused on the potential
possibilities of modifying one of the indicators affecting efficiency
as part of the evaluation of the company's financial performance by
applying it to selected companies in the mining industry. It confirms
the hypothesis, which assumes a more objective impact on the
evaluation of efficiency by including the asset in its acquisition price
compared to the asset in the residual price. In other woords, the
hypothesis of the need to include the asset in its total volume in its
acquisition price was confirmed. This is vitally important for a more
objective assessment of efficiency and for better comparisons
between companies. The residual price would improve turnover and
thus the performance of companies with outdated technical and
technological equipment. More fundamental changes in the content
of some indicators entering the HGN model will also require a
reassessment of the performance interval.