Subject. The relationship between the indicators of digital maturity of mining enterprises and the dynamics of their market capitalization. Objectives. Empirically measure the impact of the digital maturity index on the valuation of mining assets; verify the statistical validity of the hypothesis of the formation of a sustainable "digital premium" in the capitalization structure; adapt the traditional NAV model by including a parameter reflecting the technological potential of the deposit. Methods. The empirical base is based on data from an unbalanced panel. The assessment was carried out using a fixed effects model. The correctness of the specification was confirmed by diagnostics for heteroscedasticity, autocorrelation of residues, and endogeneity of regressors. The DEA method is used as an additional tool for analyzing the effectiveness of digital investments. Results. The analysis of the distributions demonstrated an acceptable level of data variability. The correlation matrix recorded a statistically significant linear relationship between the indicators of digital maturity and the logarithm of capitalization, while the diagnosis of multicollinearity did not reveal critical values. The estimated regression coefficients indicate that an increase in the digital maturity index per unit is accompanied by an increase in the company's market value by 1.8%, while other factors are controlled. The proportion of the explained variance within the groups reaches 89.1%. Robustness testing procedures did not reject the hypothesis of the exogeneity of the key regressor and confirmed the stability of the results when stratified by country. Conclusions. The data obtained make it possible to qualify digital innovations not as an auxiliary tool, but as an independent factor of value formation in the mining industry. The developed approach to adjusting the NAV model creates a methodological basis for taking into account the technological component in the investment assessment of non-mining assets. Achieving sustainable value gains requires a shift from fragmented digital initiatives to integrated data integration and the inclusion of relevant metrics in regulatory standards for industry reporting.
Keywords: profitability of mineral resources, market capitalization, econometric modeling
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