Productivity Measurement using Productivity Accounting Model: A Case Study of Refineries Sector Companies Included In Nifty 50

Abstract

Research Issue: Productivity is the relationship between output and one or more of the physical or monetary inputs used in the production process. It is denoted as a ratio of monetary value of output to the monetary value of input. In the present research, an attempt has been made to measure, analyse and compare intra company and inter company productivity of Refineries sector companies from 2010-11 to 2017-18 i.e. for eight years.

Research Findings: Intra company comparison has been drawn with the help of chi- square test and results indicate that hypothesis drawn is accepted in all the cases of refineries sector companies. This means that the overall productivity indices of the Refineries sector companies for the study period are approximately same and can be represented by straight line trend or line of best fit. Inter company comparison has been drawn with the help of Kruskal Wallis One Way Analysis of Variance Test and results indicate that null hypothesis isaccepted which means that there is no significant difference in the overall productivity ratios of the companies.