Examining the Correlations Between Industry 4.0 Assets, External and Internal Risk Factors and Business Performance Among Hungarian Food Companies

Daniel Juravle, Edina Erdei, Gyorgy Kossa, Sándor Kovacs (), Jozsef Popp and Judit Olah
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Daniel Juravle: “Alexandru Ioan Cuza” University of Iasi, Iasi, Romania
Edina Erdei: University of Debrecen, Debrecen, Hungary
Gyorgy Kossa: University of Debrecen, Debrecen, Hungary
Sándor Kovacs: University of Debrecen, Debrecen, Hungary
Jozsef Popp: John von Neumann University, Hungarian National Bank – Research Center, Kecskemét, Hungary; College of Business and Economics, of Johannesburg, Johannesburg, South Africa
Judit Olah: University of Debrecen, Debrecen, Hungary; College of Business and Economics, University of Johannesburg, Johannesburg, South Africa

The AMFITEATRU ECONOMIC journal, 2022, vol. 24, issue 59, 143

Abstract: The current maturity of enterprises has a significant development potential for the introduction of new technologies, and requires significant physical, mental and material resources. In this research, we examined the impact of the risk factors of Hungarian food production companies, Industry 4.0 tools, and the supporting and hindering factors affecting the companies, and how they affect changes in business performance. The questionnaire survey took place between 2019 and 2020, during which time we collected data from 276 food companies. The data were then analysed using a number of statistical methods: Cronbach's alpha index, factor analysis, PLS pathway analysis, indicator reliability index, composition reliability index, mean explained variance index, Fornell-Larcker criterion, heterotrait-monotrait ratio, magnitude of effect, fit goodness, predictive relevance, and road model coefficients. In this study we formulated three hypotheses related to Industry 4.0 tools, external and internal risk factors, and business performance, which we were able to accept during the study. By analysing the risk factors, we try to identify the types of external and internal risks that are most characteristic of companies, so that they can react to them as efficiently and quickly as possible, thus making the company effective and efficient at the same time.

Keywords: risk factors; Industry 4.0 assets; business performance (search for similar items in EconPapers)
JEL-codes: F23 G32 L26 M16 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:24:y:2022:i:59:p:143

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