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

The paper describes the HGN performance model and its verification 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 The residual price would improve turnover and thus the performance of companies with outdated technical and technological equipment.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.