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ArticleName Analyses of Erdenet Corporation performance using the exponential production function of complex variables
DOI 10.17580/gzh.2017.01.05
ArticleAuthor Svetunkov S. G., Chanysheva A. F.

National Research University — Higher School of Economics, Saint-Petersburg, Russia:

S. G. Svetunkov, Professor, Doctor of Economic Sciences,


Saint-Petersburg Mining University, Saint-Petersburg, Russia:
A. F. Chanysheva, Assistant, Candidate of Economic Sciences


Complex-valued economics is a new subdiscipline in economic modeling used by economists to solve new problems, including analytical. This article is of applied nature and describes modeling of interrelations between economic indicators of performance of a mine with the help of complex-valued economics tools and analyzes the revealed trends. The test object is Erdenet Mining Corporation, Mongolia–Russia Joint Venture. The exponential production function of complex variables with the actual coefficients describes the dependence of a complex variable of a production activity result (profits and expenses) on a complex variable of a factor (labor and funds). The variables are such economic indicators as marketable product cost (expenses), profit before tax (profit), staff on the payroll (labor) and basic productive assets (funds). The forecast model includes statistics on the Corporation performance between 1991 and 2012. In the course of the research, annual complex coefficients of elasticity of the exponential production function of complex variables have been calculated, namely, the total coeffi ient of elasticity, the coefficient of elasticity of a complex production result of funds and the coefficient of elasticity of a complex production result of labor. The calculated values of dynamic series of the elasticity coefficients illustrate economic behavior of the Corporation in the discussed period of time and enable forecasting dynamics of the Corporation performance as function of change in values of the factors of labor and funds.
The study has been supported by the Russian Foundation for Basic Research, Grant No. 13-06-00316.

keywords Erdenet Mining Corporation, production activity, modeling, forecasting, complex-valued economics, function of complex variables, coefficient of elasticity, profit, expenses, analysis

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