EFFECT OF CSR IMPLEMENTATION AND CRISIS EVENTS IN BUSINESS ON THE FINANCIAL MANAGEMENT OF SMES

IF 4.8 2区 经济学 Q1 ECONOMICS
Ján Dvorský, Ilona Švihlíková, Ľudmila Kozubíková, Katarína Frajtova Michalíková, Adam P. Balcerzak
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引用次数: 4

Abstract

The financial management of a business is an integral part of strategic management. Small and medium-sized enterprises (SMEs) are vulnerable to the presence of crisis events in the business environment. In this context, senior managers and owners need to react promptly to emerging changes in a given business segment. The aim of the article is to quantify the effect of crisis events in business and firm’s CSR implementation in business on the financial performance in the SMEs. The empirical research incorporated 1,090 SMEs in the business environment of four Central European countries. The research hypotheses were evaluated using structural equation modelling. The empirical findings confirmed the positive impact of CSR implementation in the enterprise on its financial management. The research results did not confirm the negative effects of crisis events in business on the financial management. Crisis phenomena have direct effects on the sustainability of the enterprise; the organizational activities of the enterprise; the functioning of the enterprise in the market and the management of the enterprise. The findings are used as a basis for the preparation of strategic projects of national and international policies helping to cope with crisis phenomena in the business environment of the SME segment.
企业社会责任实施与企业危机事件对中小企业财务管理的影响
企业的财务管理是战略管理的一个组成部分。中小企业在经营环境中容易受到危机事件的影响。在这种情况下,高级管理人员和所有者需要对给定业务部门中出现的变化迅速作出反应。本文的目的是量化企业危机事件和企业社会责任实施对中小企业财务绩效的影响。实证研究纳入了中欧四国商业环境中的1090家中小企业。采用结构方程模型对研究假设进行了评估。实证结果证实了企业实施社会责任对财务管理的正向影响。研究结果并没有证实企业危机事件对财务管理的负面影响。危机现象直接影响到企业的可持续性;企业的组织活动;企业在市场中的作用和企业的管理。研究结果被用作制定国家和国际政策战略项目的基础,以帮助应对中小企业部门商业环境中的危机现象。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
10.00
自引率
8.50%
发文量
66
审稿时长
15 weeks
期刊介绍: Technological and Economic Development of Economy is a refereed journal that publishes original research and review articles and book reviews. The Journal is designed for publishing articles in the following fields of research: systems for sustainable development, policy on sustainable development, legislation on sustainable development, strategies, approaches and methods for sustainable development, visions and scenarios for the future, education for sustainable development, institutional change and sustainable development, health care and sustainable development, alternative economic paradigms for sustainable development, partnership in the field of sustainable development, industry and sustainable development, sustainable development challenges to business and management, technological changes and sustainable development, social aspects of sustainability, economic dimensions of sustainability, political dimensions of sustainability, innovations, life cycle design and assessment, ethics and sustainability, sustainable design and material selection, assessment of environmental impact, ecology and sustainability, application case studies, best practices, decision making theory, models of operations research, theory and practice of operations research, statistics, optimization, simulation. All papers to be published in Technological and Economic Development of Economy are peer reviewed by two appointed experts. The Journal is published quarterly, in March, June, September and December.
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