Proposal of a Methodology for Assessing Financial Risks and Investment Development for Sustainability of Enterprises in Slovakia

Alica Tobisova, Andrea Senova, Gabriela Izarikova and Ivana Krutakova
Additional contact information
Alica Tobisova: Faculty of Aeronautics, Technical University of Košice, Rampová 7, 041 21 Košice, Slovakia
Andrea Senova: Faculty of Mining, Ecology, Process Control and Geotechnologies, Technical University of Košice, Letná 9, 042 00 Košice, Slovakia
Gabriela Izarikova: Faculty of Mechanical Engineering, Technical University of Košice, Letná 9, 042 00 Košice, Slovakia
Ivana Krutakova: Faculty of Mining, Ecology, Process Control and Geotechnologies, Technical University of Košice, Letná 9, 042 00 Košice, Slovakia

Sustainability, 2022, vol. 14, issue 9, 1-14

Abstract: Investments are a demanding and, at the same time, threatening indicator for enterprises not only in the time of depression such as the current coronavirus pandemic but also under normal market conditions. The goal of this article is to propose a methodology for assessing financial risks and investment development. The proposed methodology integrates the use of new modern and classical economic-statistical methods, which makes it an effective tool for the sustainability of enterprises. At the same time, the methodology can be used as an auxiliary tool for enterprise management in the investment decision-making process. In the first step, a methodology was created using a commercial software tool where the pdevelopment of the cash-flow indicator and the accumulated cash flow were modeled in order to calculate the net present value (NPV). The statistical modeling was performed using the one-way analysis of variance (ANOVA). The normality was monitored using the Shapiro–Wilk test, and the Kruskal–Wallis test was chosen as the non-parametric test. The deliverable of the applied methods was the creation of a mathematical model in the form of an algorithm that is applicable in different enterprises in Slovakia.

Keywords: sustainability; algorithm; enterprises; financial risk; investment (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.mdpi.com/2071-1050/14/9/5068/pdf (application/pdf)
https://www.mdpi.com/2071-1050/14/9/5068/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:9:p:5068-:d:800255

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().