The Interconnections Between CSR, Financial Management, and Sustainability in Service Sector SMEs

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04130081%3A_____%2F24%3AN0000032" target="_blank" >RIV/04130081:_____/24:N0000032 - isvavai.cz</a>

Alternative codes found

RIV/04130081:_____/24:N0000038

Result on the web

<a href="https://jots.cz/index.php/JoTS/article/view/873" target="_blank" >https://jots.cz/index.php/JoTS/article/view/873</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.29036/jots.v15i29.873" target="_blank" >10.29036/jots.v15i29.873</a>

Result language

angličtina

Original language name

The Interconnections Between CSR, Financial Management, and Sustainability in Service Sector SMEs

Original language description

This study investigates the relationship between financial management, corporate social responsibility (CSR), and sustainability within small and medium-sized enterprises (SMEs) in the service sector across the Visegrad Four (V4) countries: Poland, Hungary, the Czech Republic, and Slovakia. The research aims to quantify the impact of financial management and CSR on SME sustainability, addressing a critical gap in understanding sustainability dynamics in this sector. The data was collected through a comprehensive survey of 339 SME owners or top managers across the V4 countries, employing a structured questionnaire. The hypotheses were tested using Structural Equation Modeling (SEM) to evaluate the causal relationships between the factors. The results reveal that financial management plays a more significant role in determining the level of sustainability in SMEs than CSR. Nevertheless, CSR also positively affects both sustainability and financial management, though the intensity of its impact on financial management is weaker. These findings are crucial for SME owners and managers, as they highlight the importance of integrating both financial discipline and socially responsible practices to achieve long-term sustainability. The study's implications extend to policymakers, educational institutions, and support organizations, providing a framework for developing strategies that promote sustainable business practices. This research offers a valuable contribution to the body of knowledge on sustainability in SMEs, especially in the context of post-pandemic recovery in the V4 region, and provides practical recommendations for enhancing the resilience and competitiveness of SMEs through improved financial management and CSR integration.

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

2024

Confidentiality

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

Name of the periodical

JOURNAL OF TOURISM AND SERVICES

ISSN

1804-5650

e-ISSN

—

Volume of the periodical

15

Issue of the periodical within the volume

29

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

21

Pages from-to

227-247

UT code for WoS article

001376923100010

EID of the result in the Scopus database

2-s2.0-85211484790