Private Equity Market of the Visegrad Group

Popp, József; Oláh, Judit; Machová, Veronika; Jachowicz, Agnieszka

doi:10.26552/ems.2018.1.1-15

Cited by 12 publications

(10 citation statements)

References 13 publications

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“…It was confirmed that the most important risks for SMEs are market risk, financial risk and economic risk. This conclusion was confirmed by many other authors who have done similar researches (Belás et al, 2018;Kot, 2018;Popp et al, 2018;Oláh et al, 2018). The market risk, financial risk and economic risk are perceived as most important only in SMEs in the Czech Republic, Slovakia and Poland.…”

Section: Discussionsupporting

confidence: 68%

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Differences in the Concept of Risk Management in V4 Countries

Virglerová

2018

IJEK

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Risk management is one of the entrepreneurial knowledge to reduce business risks. The aim of the article is to compare the access to risk management in SMEs in the Visegrad countries (V4). The attention is focused on the differences in a perception of the importance of various risks, the choice of the person responsible for risk management and the frequency of discussion on the current risks in the company. The article deals with the partial results of the empirical questionnaire survey which was completed in 2018 at the Tomas Bata University in Zlín in the Czech Republic. The survey was made among SMEs in the Czech Republic (408 respondents), Slovakia (487), Poland (489) and Hungary (388). The questionnaire included questions about the importance of risks and the concept of risk management in the company. Three research questions were set. To test the formulated research questions, the following statistical tools, such as pivot table, relative and absolute frequency, the Chi-Square calculator for 5 x 5 Contingency Table and Z-score, were used. Finally, the result indicates a different perception of the key risks in Hungary (in comparison with other V4 countries). There are also statistically significant differences in the frequency of discussion on the current risks in relation to the size of the company among V4 countries. The differences among the companies from V4 countries in the choice of the person responsible for risk management were proved as well. The article concludes with a discussion on the comparison of the previous international researches.

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Section: Discussionsupporting

confidence: 68%

“…The intensity of market risk as one of the biggest risks for SMEs confirmed many authors (e.g. Kot, 2018;Popp et al, 2018;Oláh et al, 2018). They define market risk as a loss of customers, strong competition in the industry, market stagnation and supplier misbehaviour.…”

Section: Theoretical Basesmentioning

confidence: 55%

Differences in the Concept of Risk Management in V4 Countries

Virglerová

2018

IJEK

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“…This is evidenced by further processed survey results that point to the greatest SMEs market risk intensity: loss of customers, strong competition in the industry, market stagnation, and supplier misbehaviour. This hypothesis is confirmed by many other authors who have done similar research (Kozubíková et al, 2017b;Belás et al, 2018;Kot, 2018;Popp et al, 2018;Oláh et al, 2018). Compared to the results of the 2013 statistical survey, it can be concluded that financial risks are still among the key risks of SMEs.…”

Section: Fig 5 -supporting

confidence: 68%

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 characterize groups of companies in every of V4 countries, statistical descriptive characteristics will be used (Popp et al, 2018). For each variable, we list the mean, standard deviation, median, minimum and maximum values.…”

Section: Methodology and Datamentioning

confidence: 99%

Dependency Analysis Between Various Profit Measures and Corporate Total Assets for Visegrad Group’s Business Entities

et al. 2020

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Background and Purpose: Models of identifying and predicting earnings management in companies by using accruals are in general based on the dependence between total assets of companies and various profit measures. In this paper, we focused on an initial dependency analysis between these business indicators in the Visegrad group’s business entities. We explore the mentioned relationships, verify, and quantify the strength of the dependencies between earnings levels of companies (in terms of economic evaluation of the return on business capital in absolute terms) and the value of their total assets (i.e. business capital tied in the assets without its further classification and analysis).Methodology: We use descriptive statistics as well as a correlation analysis based on the real business data on almost 300 thousand companies in the V4 countries from the Amadeus database, covering the period from 2013 to 2017. Finally, we use a comparative analysis to identify disproportion among the results that were found out for each of the analysed countries.Results: The analysis showed that Slovak companies have the average values of profit measures and total assets comparable to Hungarian companies. Czech and Polish companies have several times higher average values of profit measures and also of total assets than Slovak and Hungarian companies. The analysis of the development of the profit measures and the total assets of the companies over the years showed significant differences across the four countries during the period covered by this study.Conclusion: The analysis of relationships between total assets of the companies and their profit measures showed that the strength of these dependencies among countries is very similar, and over the years, these results did not change. The results of this study can be further used in the creation of the earnings management model in enterprises, both in Slovakia and in other V4 countries.

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Private Equity Market of the Visegrad Group

Cited by 12 publications

References 13 publications

Differences in the Concept of Risk Management in V4 Countries

Differences in the Concept of Risk Management in V4 Countries

The Dependence of Perceived Business Risks on the Size of SMEs

Dependency Analysis Between Various Profit Measures and Corporate Total Assets for Visegrad Group’s Business Entities

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