The impacts of innovative and competitive abilities of SMEs on their different financial risk concerns: System approach

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04130081%3A_____%2F23%3AN0000005" target="_blank" >RIV/04130081:_____/23:N0000005 - isvavai.cz</a>

Result on the web

<a href="https://journals.economic-research.pl/oc/article/view/2273/2050" target="_blank" >https://journals.economic-research.pl/oc/article/view/2273/2050</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.24136/oc.2023.009" target="_blank" >10.24136/oc.2023.009</a>

Result language

angličtina

Original language name

The impacts of innovative and competitive abilities of SMEs on their different financial risk concerns: System approach

Original language description

Research background: The lack of financial resources of small and medium enterprises (SMEs) make them face high financial risk. Their entrepreneurial abilities that belong to Resource-based View (RBV), such as innovativeness and competitiveness, might reduce SMEs? financial risk because those entrepreneurial abilities increase the financial performance of businesses. Purpose of the article: This paper aims to investigate the effects of the innovativeness and competitiveness of SMEs on their financial concerns based on financial risk, including bankruptcy, financial performance, and financial risk management. Methods: The authors use a method of data analysis and synthesis, including advanced knowledge and digital processing of background studies. This paper examines 1221 SMEs from the Czech Republic, Slovakia, and Hungary. Those firms are chosen by random sampling method from Cribis and the Budapest Chamber of Commerce databases. Then the researchers directed an online questionnaire to collect the research data from the randomly selected firms. The researchers use Ordinal Logistic Regression Test for analysis purposes. Findings & value added: This paper's results indicate that SMEs' competitiveness does not impact SMEs? bankruptcy prediction, financial performance, or financial risk management. On the other hand, while more innovative SMEs are less likely to face bankruptcy issues than less innovative SMEs, less innovative SMEs indicate better financial performance than their more innovative counterparts. Since this paper focuses on the influences of intangible assets of SMEs (such as characteristics based on RBV and Entrepreneurial Orientation) on their tangible assets (financial performance etc.) and puts emphasis on this fact from an International perspective, this paper makes a significant contribution to the literature. Furthermore, analyzing multiple relationships between SMEs? different entrepreneurial characteristics and various financial risk concerns is another important fact that might draw prospective readers? attention.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

—

Continuities

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Oeconomia Copernicana

ISSN

2083-1277

e-ISSN

2353-1827

Volume of the periodical

14

Issue of the periodical within the volume

1

Country of publishing house

PL - POLAND

Number of pages

28

Pages from-to

327–354

UT code for WoS article

000973580700009

EID of the result in the Scopus database

2-s2.0-85160243000