Selected factors of internationalisation and their impact on the SME perception of the market risk

IF 7.6 1区 经济学 Q1 ECONOMICS
Zuzana Virglerová, E. Ivanova, J. Dvorský, J. Bélas, T. Krulický
{"title":"Selected factors of internationalisation and their impact on the SME perception of the market risk","authors":"Zuzana Virglerová, E. Ivanova, J. Dvorský, J. Bélas, T. Krulický","doi":"10.24136/oc.2021.033","DOIUrl":null,"url":null,"abstract":"Research background: Internationalisation of entrepreneurial activities provides an ample opportunity for the growth and sustainability of small and medium-sized enterprises (SMEs). When making their business activities international, SMEs are facing various obstacles. Investigating the key factors of internationalisation and their impact on SME decision making constitutes a key factor of the research work. \nPurpose of the article: The main purpose of the paper is to examine the impact of selected factors of SME internationalisation on the positive perception of the market risk. Higher export costs, differences in legal environment, taxes, and linguistic and cultural differences were set to be the significant factors influencing the positive perception of the market risk. Bearing the main purpose in mind, the Visegrad Four (V4 ? Czech Republic, Slovakia, Poland, Hungary) were examined. \nMethods: The questionnaire in mother tongue of each country in online and paper form was used. The questionnaire consists of 77 questions divided into several sections. Likert five-point scale was used to allow the respondents to express their opinion. In total, 1585 responses were completed. A regression analysis was used to verify the statistical significance of the independent variables and to quantify the causal relationships (determining the direction and strength of the effect) on the dependent variable. As the variables are of one metric, a linear regression model (LRM) was selected to validate the hypothesis. \nFindings & value added: The internationalisation of SME activities brings along many risks and barriers that SMEs need to overcome if they want to enter international markets. Many SMEs consider the barriers and restrictions to enter foreign markets to be severe. Therefore, they decide to do their business domestically. It was established in the research that only 30.2% of the respondents expanded their business activities internationally. The biggest impact on the positive assessment of the market risk was found to have linguistic and cultural differences. They do not have a negative effect on the positive perception of the market risk, so they do not hinder SMEs in their international expansion. The second most important was the factor of the export costs. The factor of possible increased costs is quite important for SMEs in making their decisions whether to expand internationally or not. This factor also shapes a positive approach to assessing the market risk by SMEs. In the research, SMEs confirmed that potential higher costs do not represent a major barrier for them in shaping their attitudes towards the market risk. The remaining factors being analysed, namely differences in legal environment and taxes, did not have a significant impact on the positive assessment of the market risk internationally. The practical implications can be found in new information about market risk in process of internationalisation provided from four selected countries.","PeriodicalId":46112,"journal":{"name":"Oeconomia Copernicana","volume":" ","pages":""},"PeriodicalIF":7.6000,"publicationDate":"2021-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Oeconomia Copernicana","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.24136/oc.2021.033","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 12

Abstract

Research background: Internationalisation of entrepreneurial activities provides an ample opportunity for the growth and sustainability of small and medium-sized enterprises (SMEs). When making their business activities international, SMEs are facing various obstacles. Investigating the key factors of internationalisation and their impact on SME decision making constitutes a key factor of the research work. Purpose of the article: The main purpose of the paper is to examine the impact of selected factors of SME internationalisation on the positive perception of the market risk. Higher export costs, differences in legal environment, taxes, and linguistic and cultural differences were set to be the significant factors influencing the positive perception of the market risk. Bearing the main purpose in mind, the Visegrad Four (V4 ? Czech Republic, Slovakia, Poland, Hungary) were examined. Methods: The questionnaire in mother tongue of each country in online and paper form was used. The questionnaire consists of 77 questions divided into several sections. Likert five-point scale was used to allow the respondents to express their opinion. In total, 1585 responses were completed. A regression analysis was used to verify the statistical significance of the independent variables and to quantify the causal relationships (determining the direction and strength of the effect) on the dependent variable. As the variables are of one metric, a linear regression model (LRM) was selected to validate the hypothesis. Findings & value added: The internationalisation of SME activities brings along many risks and barriers that SMEs need to overcome if they want to enter international markets. Many SMEs consider the barriers and restrictions to enter foreign markets to be severe. Therefore, they decide to do their business domestically. It was established in the research that only 30.2% of the respondents expanded their business activities internationally. The biggest impact on the positive assessment of the market risk was found to have linguistic and cultural differences. They do not have a negative effect on the positive perception of the market risk, so they do not hinder SMEs in their international expansion. The second most important was the factor of the export costs. The factor of possible increased costs is quite important for SMEs in making their decisions whether to expand internationally or not. This factor also shapes a positive approach to assessing the market risk by SMEs. In the research, SMEs confirmed that potential higher costs do not represent a major barrier for them in shaping their attitudes towards the market risk. The remaining factors being analysed, namely differences in legal environment and taxes, did not have a significant impact on the positive assessment of the market risk internationally. The practical implications can be found in new information about market risk in process of internationalisation provided from four selected countries.
国际化的选择因素及其对中小企业市场风险感知的影响
研究背景:创业活动的国际化为中小企业的成长和可持续发展提供了充足的机会。中小企业在开展国际化经营活动的过程中,面临着各种各样的障碍。研究国际化的关键因素及其对中小企业决策的影响是研究工作的重点。文章的目的:本文的主要目的是研究中小企业国际化的选定因素对市场风险的积极感知的影响。较高的出口成本、法律环境的差异、税收以及语言和文化的差异被确定为影响市场风险正面看法的重要因素。考虑到主要目的,维谢格拉德四(V4 ?捷克共和国、斯洛伐克、波兰、匈牙利)进行了审查。方法:采用在线和纸质两种形式的各国母语问卷。问卷由77个问题组成,分为几个部分。李克特五分制被用来让受访者表达他们的意见。总共完成了1585份回复。使用回归分析来验证自变量的统计显著性,并量化因变量的因果关系(确定影响的方向和强度)。由于变量是一个度量,我们选择线性回归模型(LRM)来验证假设。发现与增值:中小企业活动的国际化带来了许多风险和障碍,中小企业要进入国际市场需要克服这些风险和障碍。许多中小企业认为进入国外市场的障碍和限制很严重。因此,他们决定在国内开展业务。研究表明,只有30.2%的受访者扩大了他们的国际业务活动。研究发现,语言和文化差异对积极评估市场风险的影响最大。它们不会对市场风险的正面认知产生负面影响,因此不会阻碍中小企业的国际扩张。第二个最重要的因素是出口成本。中小企业在决定是否进行国际扩张时,成本可能增加的因素是非常重要的。这一因素也形成了中小企业评估市场风险的积极方法。在研究中,中小企业证实,潜在的更高成本并不是他们形成对市场风险态度的主要障碍。所分析的其余因素,即法律环境和税收的差异,对国际上对市场风险的积极评估没有重大影响。从四个选定的国家提供的关于国际化过程中市场风险的新信息中可以发现实际意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
13.70
自引率
5.90%
发文量
26
审稿时长
24 weeks
期刊介绍: The Oeconomia Copernicana is an academic quarterly journal aimed at academicians, economic policymakers, and students studying finance, accounting, management, and economics. It publishes academic articles on contemporary issues in economics, finance, banking, accounting, and management from various research perspectives. The journal's mission is to publish advanced theoretical and empirical research that contributes to the development of these disciplines and has practical relevance. The journal encourages the use of various research methods, including falsification of conventional understanding, theory building through inductive or qualitative research, first empirical testing of theories, meta-analysis with theoretical implications, constructive replication, and a combination of qualitative, quantitative, field, laboratory, and meta-analytic approaches. While the journal prioritizes comprehensive manuscripts that include methodological-based theoretical and empirical research with implications for policymaking, it also welcomes submissions focused solely on theory or methodology.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信