Abstract. The purpose of this paper is to examine the determinants of collateral for small and medium enterprises (SMEs) in the context of Visegrad countries: Czech Republic, Slovak Republic, Hungary and Poland. The data set for this paper was obtained from the Business Environment and Enterprise Performance Survey (BEEPS), which was conducted by the World Bank and the European Bank for Reconstruction and Development (EBRD) from 2012-2014. A binary logistic regression model with different specifications was employed to examine the effect of independent variables on the incidence of collateral. The results show that risky borrowers need to pledge collateral and the reduction of asymmetric information can lower the incidence of collateral for SMEs. Moreover, we find that female borrowers are more likely to pledge collateral than male borrowers are. The results also suggest that loans with a longer maturity are more likely to be collateralized than short-term loans. We find evidence that bank-borrower proximity can alleviate the incidence of collateral whereas bank concentration may increase collateral requirements. Policy makers may consider these results to implement policies that can promote bank competition and can lower collateral requirements for female borrowers. The paper contributes to the ongoing debate on the determinants of collateral.

Purpose Businesses nowadays face unprecedented pressures from stakeholder groups to become more transparent by issuing comprehensive reports describing their environmental, social and governance (ESG)-related activities, strategies and policies. This paper’s primary motivation is to understand which ESG disclosure factors are relevant for large Czech companies. Design/methodology/approach To achieve the above-stated goal, the total ESG disclosure index, consisting of three subindexes (ESG) was constructed and calculated for the 100 largest Czech companies. Furthermore, the relationships between firm-level factors and ESG disclosure indexes were estimated by using censored regression models. Findings This study found that revenue, number of employees and profitability positively influenced the total ESG disclosures. On the level of the three ESG components, this study found that revenue positively impacted environmental and governance disclosures while the number of employees positively affected social and governance disclosures. Moreover, profitability affected social and governance disclosures positively for large Czech companies. However, this study did not observe a significant relationship between board attributes and ESG disclosures. Originality/value This paper extends academic literature on ESG disclosures by verifying the significance of firm-level factors in the context of Czech business realities before the adoption and transposition of the Corporate Sustainability Reporting Directive. More specifically, this study has investigated the ESG reporting together and separately for ESG factors. This separation is vital as firms vary in reporting processes across these factors.

Abstract. Current economic situation in Russia could be considered at least as dismal.

Purpose This paper aims to develop a thorough understanding of industry-specific networking behaviour on the internationalization performance of Czech small and medium enterprises (SMEs). Design/methodology/approach The authors used a profile deviation-ideal profile methodology to explore the ideal networking behaviour profile of different industries. The authors argue that firms adhering to ideal profiles performed well in the international market, while firms deviating from the ideal profile performed poorly. Data were collected through an online questionnaire specifically targeted at Czech SME executives. The authors attempted to explore these issues by using four aspects of networking behaviour to test the ideal networking behaviour profile of five different industries (automotive, telecommunications, construction, audit and finance and transportation). Findings The authors have identified different ideal networking behaviour profile for three industries, which underpinned supported the hypothesis that each dimension of networking behaviour should be fine-tuned for each sector to achieve to attain maximum benefits and performance in the international market. Originality/value Although previous studies supported the role of networking behaviour in improving internationalization performance, multiple studies had also provided conflicting results on how networking affects different industries and it is unclear how and why networking affects these various industries differently. The authors believe that the results research provides empirical evidence in proving that different networking dimensions should be fine-tuned as per industry to achieve the highest performance in the international market. The authors believe that the findings broaden the current understanding of the role of networks in the internationalization. The authors believe that the findings extend the current understanding of the role of networks in the internationalization of SMEs.

This study examines the attitude of management students towards whistleblowing in a sample of 121 master students of business ethics at the Faculty of Economics University in Split, Croatia. The three measurement instruments include whistleblowers´ attitudes (3 items), whistleblowing attitudes (2 items) and potential types of whistleblowing reactions (8 items), i.e. external reactions (4 items) and internal reactions (4 items). The results of the study indicated a positive attitude toward whistleblowing and whistleblowers. The authors also found that female students exhibited more con dence in management and were more prone to whistleblowing than male students. Also, students with professional experience considered whistleblowing to be in the public interest more than students with no professional experience. The results may be of practical use to managers who can bene t from whistleblowing while keeping in mind that whistleblowing can't be avoided and that punishing whistleblowers seems to be a bad managerial practice.