Decision Sciences
5 years ago

New financial methods reveal disparities in performance evaluation of travel agencies.

Oeconomia Copernicana
Analysis of modern methods for increasing and managing the financial prosperity of businesses in the context of performance: a case study of the tourism sector in Slovakia
Erika Onuferová, Veronika Čabinová, Tünde Dzurov Vargová

Paper Summary

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The article examines how travel agencies in Slovakia can improve their financial performance using different methods. The researchers used Principal Component Analysis (PCA) and Economic Value Added (EVA) to evaluate the businesses. They found that the PCA method identified 6 key factors for performance, but it did not give the same results as the EVA indicator. This means that the two methods showed different strong and weak businesses. Overall, the PCA method is not as effective as the EVA indicator for measuring financial performance in this context.