Models for the evaluation of business excellence in capital market of Bosnia and Herzegovina

Abstract

It is always a problem to choose one or more indicators or to construct a model that reflects the achieved operating result. Companies all over the world have developed numerous models assessing excellence from various aspects in order to estimate the achieved operating result or overall business excellence. Applying most of the models requires data and estimation that are not available to investors. BEX model is primarily designed to assess business excellence enterprises in the capital market in Croatia. It is also possible to apply this model to all the other similar markets. This paper will be focused more on the possibility of applying the mentioned model in the capital market of Bosnia and Herzegovina, that is, to the most successful companies listed on the Sarajevo Stock Exchange but being a part of SASX - 10 index, and those listed on the Banja Luka Stock Exchange entering BIRS index.