The impact of financial innovation investment support on SME competitiveness

Lewandowska, Anna; Bilan, Yuriy; Mentel, Grzegorz

dc.title	The impact of financial innovation investment support on SME competitiveness	en
dc.contributor.author	Lewandowska, Anna
dc.contributor.author	Bilan, Yuriy
dc.contributor.author	Mentel, Grzegorz
dc.relation.ispartof	Journal of Competitiveness
dc.identifier.issn	1804-171X Scopus Sources, Sherpa/RoMEO, JCR
dc.identifier.issn	1804-1728 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued	2021
utb.relation.volume	13
utb.relation.issue	3
dc.citation.spage	92
dc.citation.epage	110
dc.type	article
dc.language.iso	en
dc.publisher	Univ Tomase Bati & Zline, Fak Managementu Ekonomiky
dc.identifier.doi	10.7441/joc.2021.03.06
dc.relation.uri	https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=417&cp=
dc.subject	investments in innovation	en
dc.subject	EU funds	en
dc.subject	economic growth	en
dc.subject	competitiveness	en
dc.subject	SMEs	en
dc.description.abstract	This article examines financial support (especially EU Structural Funds as the main tool of cohesion policy) for investments as a lever for the development of SME innovativeness in Poland. The European Commission strongly stresses the importance of their cohesion policy and support for SMEs. European enterprises have suffered significantly from the credit crunch, and the situation could worsen as banks engage in restructuring to eliminate impaired assets from their balance sheets. Supporting SMEs and promoting entrepreneurship is essential for economic development and competitiveness, especially in less developed regions. The main aim of this study is to establish the impact of financial support for investments, especially from EU Structural Funds, on SME competitiveness in Poland. We have analyzed empirically the data drawn from CATI carried out among 805 firms. We have learned how SMEs assess the financial support from different sources along with the resulting impact on the competitiveness of SMEs. The main statistical test for relationships and dependencies was the chi-square independence test and Cramer's V. The results of our research show that SMEs have not used financial support efficiently. Moreover, micro-enterprises were shown to be the least effective after receiving financial support from EU funds. This support often has a demand-driven effect, but it does not improve firm competitiveness.	en
utb.faculty	Faculty of Management and Economics
dc.identifier.uri	http://hdl.handle.net/10563/1010618
utb.identifier.obdid	43882841
utb.identifier.scopus	2-s2.0-85117745022
utb.identifier.wok	000704288200006
utb.source	J-wok
dc.date.accessioned	2021-10-26T10:27:26Z
dc.date.available	2021-10-26T10:27:26Z
dc.description.sponsorship	European Commission, EC
dc.rights	Attribution 4.0 International
dc.rights.uri	https://creativecommons.org/licenses/by/4.0/
dc.rights.access	openAccess
utb.contributor.internalauthor	Bilan, Yuriy
utb.fulltext.affiliation	Anna Lewandowska, Yuriy Bilan, Grzegorz Mentel Contact information Assistant professor Anna Lewandowska, Ph.D. University of Information Technolog y and Management Poland E-mail: alewandowska@wsiz.edu.pl ORCID: 0000-0002-5351-8490 Associate professor Yuriy Bilan, Ph.D. Tomas Bata University in Zlín Czech Republic E-mail: y.bilan@prz.edu.pl ORCID: 0000-0003-0268-009X Associate professor Grzegorz Mentel, Ph.D. Rzeszów University of Technolog y Poland E-mail: gmentel@prz.edu.pl ORCID: 0000-0002-6371-1219
utb.fulltext.dates	Received: December, 2020 1st Revision: June, 2021 Accepted: June, 2021
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utb.fulltext.sponsorship	-
utb.wos.affiliation	[Lewandowska, Anna] Univ Informat Technol & Management, Rzeszow, Poland; [Bilan, Yuriy] Tomas Bata Univ Zlin, Zlin, Czech Republic; [Mentel, Grzegorz] Rzeszow Univ Technol, Rzeszow, Poland
utb.scopus.affiliation	University of Information Technology and Management, Poland; Tomas Bata University, Zlín, Czech Republic; Rzeszów University of Technology, Poland
utb.fulltext.projects	-
utb.fulltext.faculty	-
utb.fulltext.ou	-
utb.identifier.jel	L11
utb.identifier.jel	L25
utb.identifier.jel	O31
utb.identifier.jel	R11