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Investigation of the Factors Influencing SME Failure as a Function of Its Prevention and Fast Recovery after Failure

Nikolić Nenad (), Jovanović Ivan, Nikolić Đorđe, Mihajlović Ivan and Schulte Peter
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Mihajlović Ivan: Univerzitet u Beogradu Tehnicki Fakultet u Boru, Bor, Serbia
Schulte Peter: Institute for European Affairs, Essen, Germany

Entrepreneurship Research Journal, 2019, vol. 9, issue 3, 21

Abstract: This paper presents a conceptual framework for investigation of the factors influencing the failure of small and medium enterprises (SMEs) as well as the level of their recovery. Based on the review of literature, all the factors are classified either as individual characteristics of entrepreneurs or non-individual characteristics, that is, characteristics related to SMEs. Having in mind various factors identified by different researchers in their studies, the authors of this paper formed a basic hypothetical framework as well as a qualitative framework for evaluation of the most significant factors influencing SME failure and recovery. Accordingly, a preliminary questionnaire was designed in order to collect the attitudes of entrepreneurs regarding the impact of particular factors. The results of the survey were used for further quantitative analysis and as a base for the formation of a structural equation model for testing the proposed hypotheses.

Keywords: SMEs; SME failure; statistical data analysis; SEM (search for similar items in EconPapers)
Date: 2019
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