Journal of Scientific Papers


© CSR, 2008-2019
ISSN 2071-789X

91th percentile
Powered by  Scopus

Directory of Open Access Journals (DOAJ)

Strike Plagiarism

  • General Founder and Publisher:

    Centre of Sociological Research


  • Publishing Partners:

    University of Szczecin (Poland)

    Széchenyi István University, (Hungary)

    Mykolas Romeris University (Lithuania)

    Alexander Dubcek University of Trencín (Slovak Republic)

  • Membership:

    American Sociological Association

    European Sociological Association

    World Economics Association (WEA)




Financial position of companies operating in food processing industry of Slovakia by using multidimensional scaling

Vol. 15, No 2, 2022

Sylvia Jencova


University of Prešov,

Prešov, Slovakia 


ORCID 0000-0002-0736-0880


Financial position of companies operating in food processing industry of Slovakia by using multidimensional scaling


Petra Vasanicova


University of Prešov,

Prešov, Slovakia


ORCID 0000-0001-7353-2057

Beata Gavurova*



Technical University of Košice,

Košice, Slovakia


ORCID 0000-0002-0606-879X

*Corresponding Author

Radovan Bacik


University of Prešov,

Prešov, Slovakia 


ORCID 0000-0002-5780-3838


Abstract. The food processing industry (FPI) is an integral part of the Slovak economy. This paper aims to compare the financial position of the largest companies operating in the Slovak FPI at the NUTS II level (Western, Central, and Eastern Slovakia Region) by using the multidimensional scaling (MDS) method. The second aim is to provide an intercompany comparison of these companies using methods of multi-criteria evaluation. The research sample consists of 60 largest companies whose ranking was obtained through the Register of the Financial Statements of the Slovak Republic according to the amount of generated revenues in 2019. The MDS method found out dissimilarity between the elements (eight financial ratios calculated for 2018 and 2020) of a set of objects (60 companies from FPI). The MDS resulted in two-dimensional matching configuration plots for the mentioned regions and years. Moreover, statistically significant values of Spearman’s rank correlation coefficients show that most companies from the Slovak FPI reached a similar rank within all methods of multi-criteria evaluation. There are described the financial ratios (return on assets and return on equity) of the whole Slovak FPI in 2007-2020, separately for the Manufacture of food products (Division 10 of NACE Rev. 2), and for the Manufacture of beverages (Division 11). Partially, this paper also deals with the Manufacture of tobacco products (Division 12). The results of this study point to the importance of innovation in the FPI in the context of Industry 4.0.


Received: August, 2021

1st Revision: March, 2022

Accepted: June, 2022


DOI: 10.14254/2071-789X.2022/15-2/16

JEL ClassificationL66, O14, G30

Keywords: food processing industry, financial ratios, multidimensional scaling, Slovakia