Important factors of financial risk in the SME segment

Belás, Jaroslav; Dvorský, Ján; Kubálek, Ján; Smrčka, Luboš

dc.title	Important factors of financial risk in the SME segment	en
dc.contributor.author	Belás, Jaroslav
dc.contributor.author	Dvorský, Ján
dc.contributor.author	Kubálek, Ján
dc.contributor.author	Smrčka, Luboš
dc.relation.ispartof	Journal of International Studies
dc.identifier.issn	2071-8330 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued	2018
utb.relation.volume	11
utb.relation.issue	1
dc.citation.spage	80
dc.citation.epage	92
dc.type	article
dc.language.iso	en
dc.publisher	Centre of Sociological Research
dc.identifier.doi	10.14254/2071-8330.2018/11-1/6
dc.relation.uri	https://jois.eu/?400,en_important-factors-of-financial-risk-in-the-sme-segment
dc.subject	Entrepreneur	en
dc.subject	Financial risk	en
dc.subject	Mission	en
dc.subject	Money	en
dc.subject	Motivation	en
dc.subject	Risk management	en
dc.description.abstract	The aim of the article is to define and quantify the significant factors which influence the intensity of financial risk, and to compare the perception of financial risk among groups of entrepreneurs in the SME segment according to their motivations for starting a business. In relation with the aims defined under this research, we carried out a survey of the entrepreneurial environment of SMEs in 2015, using a sample of 1,141 respondents (the owners of the enterprises). We used Z-score and regression analysis to assess our hypotheses. The results of our research confirmed that the attitude towards financial risk is determined by the following factors: CRM (Correct risk management by entrepreneurs), CFR (The influence of credit risk during a crisis), and SFS (Sufficient funds for SMEs). The entrepreneurs who started their business because they considered it to be their mission answered more frequently that they can correctly manage financial risk in their companies in comparison with the entrepreneurs who started their business for money. The difference was statistically significant. Our research also confirmed that entrepreneurs who started their business because of money perceived the effects of crisis on their company’s financial risk more intensely. © Foundation of International Studies, 2018 and CSR, 2018.	en
utb.faculty	Faculty of Management and Economics
dc.identifier.uri	http://hdl.handle.net/10563/1007882
utb.identifier.obdid	43878379
utb.identifier.scopus	2-s2.0-85044825026
utb.source	j-scopus
dc.date.accessioned	2018-04-23T15:01:49Z
dc.date.available	2018-04-23T15:01:49Z
dc.rights	Attribution 3.0 Unported
dc.rights.uri	https://creativecommons.org/licenses/by/3.0/
dc.rights.access	openAccess
utb.contributor.internalauthor	Belás, Jaroslav
utb.contributor.internalauthor	Dvorský, Ján
utb.fulltext.affiliation	Belás, J., Dvorský, J., Kubálek, J., & Smrčka, L. Jaroslav Belás Faculty of Management and Economics, Tomas Bata University in Zlín, Czech Republic belas@fame.utb.cz Ján Dvorský Faculty of Management and Economics, Tomas Bata University in Zlín, Czech Republic j1dvorsky@fame.utb.cz Ján Kubálek Department of Business Economics, University of Economics Praha, Czech Republic kubj10@vse.cz Luboš Smrčka Department of Business Economics, University of Economics Praha, Czech Republic smrckal@vse.cz
utb.fulltext.dates	Received: June, 2017 1st Revision: September, 2017 Accepted: December, 2017
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utb.fulltext.sponsorship	The paper is processed as one of the outputs of the research project “Insolvency of individuals in the Czech Republic - economic and non-economic social impacts” registered at Internal FPH Grant Agency under the registration No. IG309037.
utb.scopus.affiliation	Faculty of Management and Economics, Tomas Bata University in Zlín, Czech Republic; Department of Business Economics, University of Economics Praha, Czech Republic
utb.fulltext.projects	IG309037