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ASSESSING THE IMPORTANCE OF MARKET RISK AND ITS SOURCES IN SMES OF THE VISEGRAD GROUP AND SERBIA

Jan Dvorsky, József Popp, Zuzana Virglerova, Sándor Kovács and Judit Oláh
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Jan Dvorsky: Department of Enterprise Economics, Faculty of Management and Economics, Thomas Bata University, Czech Republic
József Popp: Institute of Sectoral Economics and Methodology, Faculty of Economics and Business, University of Debrecen, Hungary
Zuzana Virglerova: Centre for Applied Economic Research, Faculty of Management and Economics, Thomas Bata University, Czech Republic
Sándor Kovács: Institute of Sectoral Economics and Methodology, Faculty of Economics and Business, University of Debrecen, Hungary
Judit Oláh: Institute of Applied Informatics and Logistics, Faculty of Economics and Business, University of Debrecen, Hungary

Advances in Decision Sciences, 2018, vol. 22, issue 1, 230-255

Abstract: The main goal of the paper is to assess the market risk sources of small and medium-sized enterprises in the V4 and Serbia according to the business environment of the countries analyzed. To achieve this goal, a questionnaire-based survey was carried out involving 1,905 small and medium-sized enterprises in these countries. Market risk sources include: losing customers, strong competition in the area of business, stagnation of the market, and unreliability of suppliers. Mathematical statistics tools (PivotTables, Relative Frequency, goodness of fit and Z-Score) were used to compare the evaluation of selected market risk sources. According to the entrepreneurs’ evaluation, the partial results of this research show that the most serious source of market risk is losing customers (22%). The country of operation of the entrepreneurs is a statistically significant factor when evaluating all sources of risk. There are statistically significant differences between entrepreneurs in the countries analyzed when evaluating - the high and very high intensity of - the following market risk sources: "losing customers", "stagnation of the market" and "unreliability of suppliers".

Keywords: entrepreneurs; market risk; small and medium size business; source of risk (search for similar items in EconPapers)
JEL-codes: M21 M51 P43 (search for similar items in EconPapers)
Date: 2018
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