The Importance of Financial Management in Small and Medium-sized Entrepreneurship

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F17%3A43911687" target="_blank" >RIV/62156489:43310/17:43911687 - isvavai.cz</a>

Výsledek na webu

<a href="https://is.muni.cz/do/econ/sborniky/70896034/Proceedungs_EFS2017-Draft.pdf" target="_blank" >https://is.muni.cz/do/econ/sborniky/70896034/Proceedungs_EFS2017-Draft.pdf</a>

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

The Importance of Financial Management in Small and Medium-sized Entrepreneurship

Popis výsledku v původním jazyce

Current practice and researches show that the decisive factor of long-term success is the prioritization of effective financial management. However, enterprises, especially small and medium-sized enterprises, often confuse the principles of financial management with functioning accounting. Underestimating the role of financial management may be the reason for the impossibility of developing small and mediumsized enterprises. The main objective of this paper is therefore to evaluate the importance of financial management that SMEs attribute to the financial management aspects on their long-term development. The partial objective of the paper is to identify whether SMEs evaluating financial management as more important are more financially successful than SMEs evaluating financial management as less important. The fulfilment of the main and partial objective of the paper is fulfilled through methods of personal polling, selected methods of financial analysis and selected methods of statistical induction. The research is carried out on a selected sample of small and medium-sized enterprises based on selected restrictive criteria. The research has shown that small and medium-sized enterprises are undermining the importance of financial management and do not attribute the same strategic importance of financial management on their business development. At the same time, it was confirmed that SMEs evaluating financial management as more important are more financially successful (higher volume of assets, ROE and EAT) than SMEs that do not do so.

Název v anglickém jazyce

The Importance of Financial Management in Small and Medium-sized Entrepreneurship

Popis výsledku anglicky

Current practice and researches show that the decisive factor of long-term success is the prioritization of effective financial management. However, enterprises, especially small and medium-sized enterprises, often confuse the principles of financial management with functioning accounting. Underestimating the role of financial management may be the reason for the impossibility of developing small and mediumsized enterprises. The main objective of this paper is therefore to evaluate the importance of financial management that SMEs attribute to the financial management aspects on their long-term development. The partial objective of the paper is to identify whether SMEs evaluating financial management as more important are more financially successful than SMEs evaluating financial management as less important. The fulfilment of the main and partial objective of the paper is fulfilled through methods of personal polling, selected methods of financial analysis and selected methods of statistical induction. The research is carried out on a selected sample of small and medium-sized enterprises based on selected restrictive criteria. The research has shown that small and medium-sized enterprises are undermining the importance of financial management and do not attribute the same strategic importance of financial management on their business development. At the same time, it was confirmed that SMEs evaluating financial management as more important are more financially successful (higher volume of assets, ROE and EAT) than SMEs that do not do so.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50602 - Public administration

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

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

Název statě ve sborníku

European Financial Systems 2017: Proceedings of the 14th International Scientific Conference

ISBN

978-80-210-8609-8

ISSN

—

e-ISSN

neuvedeno

Počet stran výsledku

10

Strana od-do

373-382

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

26. 6. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000418110800045