The impacts of innovative and competitive abilities of SMEs on their different financial risk concerns: System approach

IF 7.6 1区经济学 Q1 ECONOMICS

Oeconomia Copernicana Pub Date : 2023-03-25 DOI:10.24136/oc.2023.009

M. Civelek, V. Krajčík, V. Fialova

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引用次数: 8

Abstract

Research background: The lack of financial resources of small and medium enterprises (SMEs) make them face high financial risk. Their entrepreneurial abilities that belong to Resource-based View (RBV), such as innovativeness and competitiveness, might reduce SMEs? financial risk because those entrepreneurial abilities increase the financial performance of businesses. Purpose of the article: This paper aims to investigate the effects of the innovativeness and competitiveness of SMEs on their financial concerns based on financial risk, including bankruptcy, financial performance, and financial risk management. Methods: The authors use a method of data analysis and synthesis, including advanced knowledge and digital processing of background studies. This paper examines 1221 SMEs from the Czech Republic, Slovakia, and Hungary. Those firms are chosen by random sampling method from Cribis and the Budapest Chamber of Commerce databases. Then the researchers directed an online questionnaire to collect the research data from the randomly selected firms. The researchers use Ordinal Logistic Regression Test for analysis purposes. Findings & value added: This paper's results indicate that SMEs' competitiveness does not impact SMEs? bankruptcy prediction, financial performance, or financial risk management. On the other hand, while more innovative SMEs are less likely to face bankruptcy issues than less innovative SMEs, less innovative SMEs indicate better financial performance than their more innovative counterparts. Since this paper focuses on the influences of intangible assets of SMEs (such as characteristics based on RBV and Entrepreneurial Orientation) on their tangible assets (financial performance etc.) and puts emphasis on this fact from an International perspective, this paper makes a significant contribution to the literature. Furthermore, analyzing multiple relationships between SMEs? different entrepreneurial characteristics and various financial risk concerns is another important fact that might draw prospective readers? attention.

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中小企业创新和竞争能力对其财务风险的影响:系统方法

研究背景：中小企业金融资源的缺乏使其面临较高的金融风险。他们的创新能力和竞争力等属于基于资源的观点（RBV）的创业能力可能会降低中小企业的竞争力？财务风险，因为这些创业能力会提高企业的财务绩效。本文的目的：基于财务风险，包括破产、财务绩效和财务风险管理，研究中小企业的创新性和竞争力对其财务问题的影响。方法：采用数据分析和综合的方法，包括对高级知识和数字处理的背景研究。本文调查了来自捷克共和国、斯洛伐克和匈牙利的1221家中小企业。这些公司是通过从Cribis和布达佩斯商会数据库中随机抽样的方法选出的。然后，研究人员制作了一份在线问卷，从随机选择的公司收集研究数据。研究人员使用有序逻辑回归测试进行分析。研究结果与附加值：本文的研究结果表明，中小企业的竞争力不会影响中小企业？破产预测、财务业绩或财务风险管理。另一方面，虽然创新性更强的中小企业比创新性较差的中小企业更不可能面临破产问题，但创新性较差中小企业的财务表现比创新性更强中小企业要好。由于本文关注中小企业无形资产（如基于RBV的特征和创业导向）对其有形资产（财务业绩等）的影响，并从国际角度强调了这一事实，因此本文对文献做出了重大贡献。此外，分析中小企业之间的多重关系？不同的创业特征和各种各样的金融风险担忧是另一个可能吸引潜在读者的重要事实吗？注意

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

Oeconomia Copernicana ECONOMICS-

CiteScore

13.70

自引率

5.90%

发文量

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.