Analysis of Innovation Activities of Slovak Small and Medium-Sized Family Businesses

Marta Urbaníková, Michaela Štubňová, Viera Papcunová and Jarmila Hudáková
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Marta Urbaníková: Institute of Economics and Management, Faculty of Natural Sciences, Constantine the Philosopher University in Nitra, 949 74 Nitra, Slovakia
Michaela Štubňová: Institute of Economics and Management, Faculty of Natural Sciences, Constantine the Philosopher University in Nitra, 949 74 Nitra, Slovakia
Viera Papcunová: Institute of Economics and Management, Faculty of Natural Sciences, Constantine the Philosopher University in Nitra, 949 74 Nitra, Slovakia
Jarmila Hudáková: Institute of Economics and Management, Faculty of Natural Sciences, Constantine the Philosopher University in Nitra, 949 74 Nitra, Slovakia

Administrative Sciences, 2020, vol. 10, issue 4, 1-19

Abstract: Family businesses began to emerge in Slovakia after the change of social establishment in 1989, and since then they represent a significant group of business entities with a significant contribution to the economy, and have significant growth potential. Innovations have become a driving force for the future opportunities of these companies. Based on empirical research, this paper aims to identify the innovation activities of small and medium-sized family businesses in Slovakia and to determine their impact on the company’s economic results. We can state that out of small and medium-sized family businesses included in the survey, 76.5% have implemented innovations in the last five years. We use statistical tests to verify the research hypotheses. We can state that there is a statistically significant relationship between the size of the company and the number of types of introduced innovations, as well as between the generation running the company and the number of types of introduced innovations. Second-generation family businesses can, therefore, be considered more innovative than first-generation family businesses. We investigate the impact of the COVID-19 coronavirus pandemic on innovation activities in these companies. It is interesting that in 30.6% of family businesses the COVID-19 coronavirus pandemic positively affected their innovation activities.

Keywords: family businesses; innovations; COVID-19 coronavirus pandemic (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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