Corporate purpose in a small post-transitional economy: the case of Slovenia

Stubelj, Igor; Dolenc, Primož; Biloslavo, Roberto; Nahtigal, Matjaz; Laporšek, Suzana

doi:10.1080/1331677x.2017.1311230

Cited by 12 publications

(11 citation statements)

References 37 publications

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“…In this line, in the current research we have factors within and outside of the organization which influence QBE. Business environment is also affected by the stakeholders' vs shareholders' interests and selected firms' governance model as visible in the study for Slovenia (Stubelj et al, 2017).…”

Section: Theoretical Backgroundmentioning

confidence: 98%

Improvement of the Quality of Business Environment Model: Case of the SME Segment

Belás

Dvorský

Strnad

et al. 2019

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The aim of this article is to define important factors which determine the quality of the business environment and construct a structural model of causal relationships between quality of business environment and its determinants in small and medium sized enterprises. This model was constructed on the basis of extensive empirical research. A questionnaire was designed and delivered to SMEs operating in the Czech and Slovak Republics. The sample consists of 641 enterprises from both countries. Data were evaluated using statistical methods such as confirmation factor analysis and structural equation modeling. The structural model showed very interesting findings. The most important factors, which determine the quality of business environment are macroeconomic environment, monetary policy and interest rates and legal environment. In our model, we also pointed out the importance of political, social and technological factors. The research results pointed to the need to adjust the legislative environment in a more appropriate way, to minimize state bureaucracy and to improve media access to business environment assessment. These results are useful for the academic researchers in the area of entrepreneurship, policymakers, and non-profit institutions and organizations whose effort is to improve the business environment and boost entrepreneurship.

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Section: Theoretical Backgroundmentioning

confidence: 98%

Improvement of the Quality of Business Environment Model: Case of the SME Segment

Belás

Dvorský

Strnad

et al. 2019

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“…Studies published outside of Slovakia (Hopkin, 2013;Gates et al, 2012;Fraser & Simkins, 2016) present the positive impacts of risk management on the quality of information, decision making influenced by risk, increasing the company value, ensuring competitiveness as well as achieving continuous improvement and risk prevention in order to ensure a smooth running of the enterprise. Risk management in the SMEs also depends on their attitude toward sustainable development, as is the case in the Czech Republic (Mikušová, 2017) as well as in Slovenia (Stubelj et al, 2017), where a company's risk management policy strongly depends on managers' responsibility to owners and other stakeholders.…”

Section: The Current State Of Risk Management Application In Businessmentioning

confidence: 99%

The Dependence of Perceived Business Risks on the Size of SMEs

Hudáková¹,

Masár²,

Lusková³

et al. 2018

JOC

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The issues of risk management in small and medium-sized enterprises (SMEs) have been analysed and discussed for a long time. Nevertheless, it is still necessary to concentrate on this field, especially in the Slovak Republic. SMEs are very sensitive to changes in the business environment which are always reflected in the quantitative characteristics of this sector in a certain time interval. According to various global surveys and studies, risk management represents a significant contribution to the increasing competitiveness of enterprises in changes of the business environment. The aim of this paper is to statistically assess the dependence of perceived key business risks of SMEs on their size in Slovakia based on own empirical research carried out in 2017. The contribution also includes an assessment of key risk sources and an evaluation of the survey results compared to the results of surveys taken last year. Based on the results, market, financial, economic and personnel risks comprise the four most important risks that negatively affect the business environment of SMEs. Dependence perceived by the SME entrepreneurs was found among market factors, personnel risks, and business size. No dependence was found among the financial, economic and business risks. The overall results of the empirical research point to the need and importance of addressing the assessment of key risks and their resources in SMEs in Slovakia. The goal of the paper is to highlight through a relevant study the need to apply risk management in the SMEs and to bring the results of the research in Slovakia closer to world trends.

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“…To date, several studies (Bojnec & Xavier, 2004;Stubelj et al, 2017;Zaman Groff & Valentinčič, 2011) have investigated the transitional process in SEE and CEE countries. In Slovenia, efficiency has been measured using DEA in studies analysing the efficiency of farms (Bojnec & Latruffe, 2008;Bojnec & Latruffe, 2009), hospitals (Blatnik, Bojnec, & Tušak, 2017;Došenović Bonča, 2014), and hotels (Assaf & Cvelbar, 2010).…”

Section: Post-transitional Economiesmentioning

confidence: 99%

Efficiency Analysis of Restaurants in a Small Economy after the Implementation of Fiscal Cash Registers: The Case of Slovenia

Kukanja

Planinc

2018

Organizacija

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Background and purpose: The aim is to analyse the efficiency of small and medium-sized (SMEs) restaurant enterprises in Slovenia after the government’s implementation of fiscal cash registers in January 2016. Strict financial supervision and the introduction of fiscal cash registers resulted in increased officially registered sales revenues, higher taxes, and more available and reliable financial data. No previous study has analysed restaurants’ efficiency in the country, as, due to fiscal malpractice, accounting data have not provided a reliable source for accurate efficiency evaluation.Design/Methodology/Approach: Efficiency was assessed using Data Envelopment Analysis (DEA), based on secondary-financial data provided by the national tax authorities. Data were gathered from 142 independently run restaurant SMEs in 2017.Results: The average efficiency score of Slovene restaurant SMEs is 85%, which indicates that, on average, restaurants have to increase their efficiency level by 15% in order to improve their efficiency according to the most efficient (best-performing) units under comparison. Our research results indicate a relatively successful and comparable level of efficiency performance in comparison to those found in previous international studies. The results also reveal that the patterns of conducting business operations in terms of efficient management are relatively similar across the restaurant sector. Surprisingly, in terms of determining the influence of different groups of operational variables on restaurants’ efficiency performance, the research results indicate that only operational financial variables (costs of goods sold, labour costs, and depreciation) influence efficiency performance, while managers’ demographic characteristics (gender, age, education, years of experience) and restaurants’ physical characteristics (size, number of competitors, location) have no statistically significant influence on restaurants’ efficiency in achieving net sales revenues.Conclusion: Secondary-financial data represent a valuable source of information for restaurant companies’ efficiency analysis. The use of selected variables enables an internationally comparable benchmarking process and facilitates the improvement of restaurants’ efficiency performance. It is suggested that future research include longitudinal data and focus on the systematic analysis of other variables (e.g., managers’ psychographic characteristics) that might influence restaurants’ efficiency performance.

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Corporate purpose in a small post-transitional economy: the case of Slovenia

Cited by 12 publications

References 37 publications

Improvement of the Quality of Business Environment Model: Case of the SME Segment

Improvement of the Quality of Business Environment Model: Case of the SME Segment

The Dependence of Perceived Business Risks on the Size of SMEs

Efficiency Analysis of Restaurants in a Small Economy after the Implementation of Fiscal Cash Registers: The Case of Slovenia

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