Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2016 | 9 | nr 2 | 139--149
Tytuł artykułu

Significant Determinants of the Competitive Environment for SMEs in the Context of Financial and Credit Risks

Treść / Zawartość
Warianty tytułu
Języki publikacji
The aim of the article is to compare significant determinants of the competitive environment for small and medium-sized enterprises in the context of financial and credit risk in Czech Republic and Slovakia. The survey on the quality of business environment was carried out in 2015 through a questionnaire on the sample of 1,141 respondents in Czech Republic. The total number of 438 questionnaires was collected during the research in Slovakia. Based on our own model, we quantified the index of perception of financial and credit risk (IFCR) for Czech Republic and for Slovakia. We compared the approach to risk by gender and education ofthe businessmen and company's age through Pearson statistics at the significance level of 5%. Our research has shown that business environment in both countries is characterized by relatively low level of competitiveness in the researched area. The value of the resulted index in Czech and Slovak business environments is less than the median interval value. We also determined that the value of IFCR is significantly higher in Slovakia. Our research indicates there are significant differences in the assessment of business environment quality through IFCR in both countries, depending on gender and education of entrepreneurs and depending on company's age. That index in Czech Republic is significantly higher in case of women as compared to men and in Slovakia it is the opposite. We have also found that businessmen with lower level of education have higher IFCR in both countries. Older firms showed better conditions for doing business in both countries because of their higher value of IFCR in both Czech Republic and Slovakia. (original abstract)
Opis fizyczny
  • Tomas Bata University in Zlín, Czech Republic
  • University of Economics Bratislava, Slovak Republic
  • Alesina, A. F., Lotti, F., Mistrulli, P. E. (2013). Do Women Pay More for Credit? Evidence from Italy. Journal of the European Economic, Vol. 11(1): 45-66.
  • Anderson, B. S. and Eshima, Y. (2013). The influence of firm age and intangible resources on the relationship between entrepreneurial orientation and firm growth among Japanese SMEs. Journal of Business Venturing, Vol. 28, pp. 413-429.
  • Ayub, A., Razzaq, A., Aslam, M. S., Iftekhar, H. (2013). Gender effects on entrepreneurial orientation and value innovation: evidence from Pakistan. European Journal of Business and Social Sciences, Vol. 2(1), pp. 82-90.
  • Bain & Company, Inc. and The Institute of International Finance. (2013). Restoring Financing and Growth to Europe's SMEs. Available at: SMEs.pdf
  • Baláž, P., Hamara, A., Sopková, G. (2015). Konkurencieschopnosť a jej vyznam v narodnej ekonomike.. Bratislava: Sprint.
  • Balcerzak, A. P. (2009). Effectiveness of the Institutional System Related to the Potential of the Knowledge Based Economy. Ekonomista, No. 6, pp. 711-739.
  • Belás, J., Ključnikov, A., Vojtovič, S., Sobeková-Májková, M. (2015). Approach of the SME entrepreneurs to financial risk management in relation to gender and level of education. Economics and Sociology, Vol. 8, No 4, pp. 32-42.
  • Canton, E., Grilo, I., Monteagudo, J., Zwan, P. V. D. (2013). Perceived Credit Constraints in the European Union. Small Business Economics, Vol. 41, pp. 710-715.
  • Czajkowska, A. (2015). Mezzanine as an Alternative Form of Corporate Financing. Oeconomia Copernicana, Vol. 6(1) pp. 99-111.
  • Deakins, D., Whittam, G., Wyper, J. (2010). SMEs access to bank finance in Scotland: an analysis of bank manager decision making. Venture Capital, Vol. 13(3), pp. 193-209.
  • Deakins, D., North, D., Baldock, R., Whittam, G. (2008). SMEs' Access to Finance: Is there still a debt finance gap? Belfast: Institute for Small Business & Entrepreneurship.
  • European Association of Craft, SMEs. (2007). Crafts, Trades and SMEs need better access to finance. Available at: www.
  • Fetisovová, E., Hucová, E., Nagy, L., Vlachynský, K. (2012). Aktualne problemy fi nancii malych a strednych podnikov. Bratislava: Ekonom.
  • Global Markets Institute. (2014). Giving credit where it is due How closing the credit gap for women-owned SMEs can drive global growth. New York: Goldman Sachs International.
  • Hernandez-Nicolas, C. M., Martín-Ugeso, J. F., Mínguez-Vera, A. (2015). The Influence of Gender on Financial Decisions: Evidence from Small Start-up Firms in Spain. E+M, Vo. 18, No. 4, pp. 93-107.
  • International Finance Corporation (2013). Closing the Credit Gap for Formal and Informal Micro, Small, and Medium Enterprises. World Bank Group: Washington, USA. Available at:
  • Irwin, D., Scott, J. M. (2010). Barriers faced by SMEs in raising bank finance. International Journal of Entrepreneurial Behavior and Research, Vol. 16(9), pp. 245-259.
  • Islam, A. M., Khan, M. K., Obaidullah, A. Z. M., Alam, M. S. (2011). Effect of entrepreneur and firm characteristics on the business success of SMEs in Bangladesh. International Journal of Business and Management, Vol. 6(3), pp. 289-299.
  • Kato, M., Okamuro, H., Honjo, Y. (2015). Does Founder Human Capital Matter for Innovation? Evidence from Japanese Start-ups. Journal of Small Business Management, Vol. 53(1), pp. 114-128.
  • Ključnikov, A., Sobeková Majková, M. (2016). Impact of Gender in the Perception of Administrative Burdens among Young Entrepreneurs - Evidence from Slovakia. Journal of Competitiveness, Vol. 8, Issue 2, pp. 17 - 30.
  • Ključnikov, A., Belás, J., Kozubíková, L., Paseková, P. (2016). The Entreprenurial Perception of SME Business Environment Quality in the Czech Republic. Journal of Competitiveness, Vol. 8, Issue 1, pp. 66 - 78.
  • Kordalska, A., Olczyk, M. (2016). Global Competitiveness and Economic Growth: A One-Way or Two-Way Relationship? Equilibrium. Quarterly Journal of Economics and Economic Policy, Vol. 11(1), pp. 121-142.
  • Kreiser, P. M., Marino, L. D., Dickson, P., Weaver, K. M. (2010). Cultural influences on Entrepreneurial orientation: the impact of national culture on risk taking and proactivenss in SMEs. Entrepreneurship Theory and Practice, Vol. 34(5), pp. 959-983.
  • Mura, L., Buleca, J., Zelenakova, L., Qineti, A., Kozelova, D. (2012) An analysis of selected aspects of international business in Slovak dairies in the EU framework. Mljekarstvo. Vol. 62 (3), pp. 219-226.
  • North, D., Baldock, R., Ekanem, I. (2010). Is there a debt finance gap relating to Scottish SMEs? A demand side perspective. Venture Capital, Vol, 12(3): 173-192.
  • OECD. (2006). The SME Financing Gap. Theory and Evidence. Volume I., OECD Publications: Paris.
  • Rauch, A., Rijsdijk, S. A., (2013). The Effects of General and Specific Human Capital on long-Term Growth and Failure of Newly Founded Businesses. Entrepreneurship Theory and Practice, Vol. 37(4), pp. 923-941.
  • Shuying, Z., Mei, Z. (2014). Theory of SMEs financial risk prevention and control. International Conference on Education, Management and Computing Technology (ICEMCT2014), pp. 514-517. Available downloadpaper.php
  • Smékalová, L., Hájek, O., Belás, J., Macháček, J. (2014). Perception of Small and Medium Entrepreneurship in the Czech Republic. Journal of Competitiveness, Vol. 6, Issue 4, pp. 41-49.
  • Sobeková Majková, M., Solík, J., Sipko, J. (2014) The Analysis of Chosen Business Obstacles and Problems with the Financing of Young Entrepreneurs in Slovakia. Economics and Sociology, 7(3), p. 90-103.
  • Van der Sluis, J., Van Praag, M. (2008). Education and Entrepreneurship Selection and Performance: A Review of the Empirical Literature. Journal of Economic Surveys, Vol. 22(5), pp. 795-841.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.