The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

Judit Oláh, Zuzana Virglerova, József Popp, Jana Kliestikova and Sándor Kovács
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Judit Oláh: Institute of Applied Informatics and Logistics, Faculty of Economics and Business, University of Debrecen, 4032 Debrecen, Hungary
Zuzana Virglerova: Center for Applied Economic Research, Faculty of Management and Economics, Tomas Bata University in Zlín, 760 01 Zlin, Czech Republic
József Popp: Faculty of Economics and Social Sciences, Szent István University, 2100 Gödöllő, Hungary
Jana Kliestikova: Department of Economics, Faculty of Operation and Economics of Transport and Communications, University of Zilina, 010 15 Zilina, Slovakia
Sándor Kovács: Institute of Sectoral Economics and Methodology, Faculty of Economics and Business, University of Debrecen, 4032 Debrecen, Hungary

Sustainability, 2019, vol. 11, issue 17, 1-19

Abstract: Risks are a very important part of the business environment. If risks are managed well, they can provide a higher level of competitiveness and sustainability advantages for a company. The first step towards successful risk management is an identification of risks. The aim of this article is to create a risk profile for (small and medium-sized enterprises) SMEs in V4 countries (Czech Republic, Slovakia, Poland, Hungary), compare them to each other and then compare the results with those for Serbia. The data were collected during an extensive research project organized by Tomas Bata University in Zlín in 2017 and 2018. In total 2110 answers of SMEs were analyzed. For the verification of hypotheses, a 5-point Likert scale, Multiple Correspondence Analysis (MCA) and Multiple Factors Analysis (MFA) and ANOVA were used. The level of legal, security, personnel and operational risks is statistically higher in Serbia than in V4 countries, and the lowest level is in Slovakia. Some significant differences among the exposure to risk according to economic sectors were identified.

Keywords: risk management; sustainability; Multiple Correspondence Analysis; Multiple Factors Analysis; small and medium-sized enterprises (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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