Search results - CEJSH

1

Small and Medium-Sized Enterprises on the Public

100%

Kornecki J.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2011

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vol. 6

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issue 2

EN

Small and medium-sized enterprises are believed to be a key driving force of economic vitality, innovation and new job creation. For a few years the European Union has been monitoring SME performance and the quality of public procurement procedures to make access of SMEs to the public procurement market easier and provide for their greater participation in this market. These activities have their origin in the assumption that having in mind the size of the public procurement market and public resources involved, suitable shaping of this area may improve effectiveness of selected policies at the EU level and in particular member countries. The directives concerning public procurement should ensure opening the market of public procurement for all enterprises irrespectively of their size. Recently the public procurement market in Poland has been continuously growing which doubtlessly resulted from Poland’s accession to the European Union.The aim of this paper is to give evidence of SME position on the public procurement market and to attempt to answer two basic research questions. Firstly, is the market potential fully used as far as applying for awarding public contracts by SMEs is concerned? And secondly, what are the main obstacles determining the access of SMEs to the public procurement market? This is done by reference to available statistical data and two studies that were carried out by the author.

2

The role of financial constraint factors in predicting SME default

80%

Karas M., Režňáková M.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2021

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vol. 16

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issue 4

859-883

EN

Research background: SMEs face financial constraints in their development, which limits their access to external funds, tightens their investment possibilities, and limits their growth. Much research effort has been devoted to understanding the nature and sources of this phenomenon. In sharp contrast to this, very little has been said about the role of these factors in explaining the default probability of these types of enterprises. Understanding such interrelationships could help to adopt policies to alleviate the situation of constrained SMEs and lower their default rates. Purpose of the article: This study analyses the role of financial constraint factors in SME defaults. This is done by utilising the financial constraint factors in a newly derived default prediction model. A comparison of the derived model and other SME default prediction models is carried out to assess the potential of financial constraints in the discrimination power of the model. Methods: In this study, we use the Cox semiparametric model, while leaving the baseline hazard rate unspecified and employing macroeconomic variables as explanatory variables. The discrimination power was addressed in terms of the area under the curve (AUC), resulting in out-of-sample testing. The DeLong test was used to compare the AUC of the created and analysed models. The model was estimated on a set of over 213,731 SMEs from 28 counties, covering the period 2014?2019. Findings & value added: It was found that adopting the financial constraint measures can explain the default of small and medium enterprises with high accuracy; however, they do not explain the default of micro enterprises.

3

The Usage of Consulting Services Among Romanian SMES between 2011-2015

80%

Urîtu D., Corcodel Ș.-F.

Management of Sustainable Development

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2016

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vol. 8

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issue 1

29-34

EN

The gap in competitiveness between Romanian SMEs and European firms is generated by limited access to economic, legal, technological and management knowledge. This gap can be recovered by using the services of external consultants which can bring added value to the company. The consulting services market has had an upward trend in last years at European level, but in Romania there is still some reluctance to these services and even distrust regarding the companies that offer them. Based on these facts, this paper aims to highlight the proportion and the characteristics of Romanian entrepreneurs that use external consultants and the evolution of the usage of external consulting services, taking into account the last five years. The results obtained in the current research reveal an irregular evolution of rate of SMEs that use external consulting services. One can see that, in the period of analysis, there was been a descendant trend of entrepreneurs that resort to consultancy between 2011 and 2014. On the other hand, the percentage of entrepreneurs that use external consultants has had a significant comeback in 2015, when 10,49% of enterprises have resorted to this type of services.

4

International Financial Reporting Standard for Small and Medium Enterprises – essence, assessment, future

80%

Kędzior M.

Zeszyty Teoretyczne Rachunkowości

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2010

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vol. 2010(58(114))

1-32

EN

The objective of the article is the presentation of main issues, evaluation and future of International Financial Reporting Standard for Small and Medium Enterprises. The paper presents the definition of the SME sector as well as the objectives and necessity of introducing International Financial Reporting Standard for SMEs. The further part of the paper describes and assesses the standards and presents the views held by the representatives of selected accounting and auditing organizations in Europe. Also, the author discusses the impact of IFRS for SMEs on the SME sector and presents research on IFRS for the needs of SMEs. The paper presents the national accounting standards after the introduction of the new standards, outlines their prospects worldwide and assesses the entire project.

5

SMEs innovativeness and institutional support system: the local experiences in qualitative perspective. Polish case study

80%

Lewandowska A., Stopa M.

Oeconomia Copernicana

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2018

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vol. 9

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issue 2

333-351

EN

Research background: Many contemporary empirical studies and most economic growth theories recognize the importance of innovation as one of the most progressive determinants of socio-economic growth, both in the regional and local perspective. However, much of the empirical literature has discussed the issue of innovativeness and institutional environment without the significant results for small enterprises, especially in peripheral regions. Purpose of the article: The aim of this paper is to evaluate the institutional support system and its impact on SME innovativeness in Podkarpackie region. In analyzing this case, we raise the following two questions: (1) what are the types of innovation strategies of SMEs in Podkarpackie? (2) what are the factors affecting innovation and potential barriers to further use of institutional support systems aimed at the implementation of innovation in enterprises? Methods: Based on the empirical research, we have analyzed the data (individual in-depth interviews) and found out how the entrepreneurs, R&D, business environment institutions, regional and local authorities assess the use of programs and projects dedicated to innovation in the scope of the institutional support system and what are the barriers encountered by entrepreneurs that limit the implementation of innovation. Findings & Value added: The results of our research show that institutional sup-port systems mitigate negative consequences of peripheral localization of the enterprises, where specific innovation strategy has no influence on SME assessment of innovation effectiveness. Innovation is too costly, and SMEs are too weak in peripheral regions, therefore there is great need for reasonable and flexible institutional support systems. However, the peripheral situation influences this institutional system itself, strengthening the mechanisms of self-censorship.

6

SMEs capital structure determinants: empirical evidence from Kazakhstan

80%

Kokeyeva S.

Nauki o Finansach

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2019

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issue vol. 24 no. 3

13-22

EN

The purpose of this paper is to study the standard firm-factor determinants on capital structure of small and medium-sized enterprises (SMEs). To this end, we analyzed small and medium sized firms in Kazakhstan, where all sectors were considered. We use panel data methods to investigate the determinants of capital structure for non-financial SMEs in Kazakhstan. This study examines the impact of key determinants such as asset tangibility, size, growth, profitability and tax rate of SMEs. The trade-off theory and the pecking order theory of capital structure guided this study. The results suggest that despite some differences in the influence of factors on the capital structure, most of the determinants presented by the theory of finance appear indeed to be relevant for the Kazakhstan small and medium business sector.

7

Małe i średnie przedsiębiorstwa w procesach fuzji i przejęć – wybrane zagadnienia

80%

Michalik Z.

Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie

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2013

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issue 905

69-89

EN

The aim of this article is to present various approaches to the processes of mergers and acquisitions at small and medium-sized enterprises. The author characterises motives for the engagement specific for SMEs, a model of the emergence of acquisition capabilities and factors that may lead to the successful performance of M&A transactions.

8

Competitive factors for microenterprises in the process of marketing and logistic management based on the Kuyavian-Pomeranian Voivodeship

80%

Janczewska D.

Przedsiębiorczość i Zarządzanie

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2014

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vol. 15

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issue 2

93-105

EN

Upon accession to the European Union, the SME sector in Poland found itself in a much more difficult situation than that of similar enterprises which had operated in the EU for years. New phenomena have occurred in this environment, including globalization, with not only its economic dimension, but also structural and functional ones, which comprehensively affects all fields of enterprises’ operations. Growth of competitiveness of SMEs, in particular of microenterprises, is a very interesting aspect and questions arise as to possible new methods of management which could help achieve this goal. This article presents the author's own research on SMEs in the Kuyavian-Pomeranian Voivodeship from the perspective of competitive factors in the management process. The factors of chief significance to growth and development are presented as exemplified by marketing and logistic management process in a microenterprise.

9

Międzynarodowy Standard Sprawozdawczości Finansowej dla Małych i Średnich Przedsiębiorstw - istota, ocena, przyszłość

80%

Kędzior M.

Zeszyty Teoretyczne Rachunkowości

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2010

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vol. 2010(58(114))

1-32

PL

Celem artykułu jest przedstawienie istoty oraz ocena oraz określenie przyszłości Międzynarodowego Standardu Sprawozdawczości Finansowej dla Małych i Średnich Przedsiębiorstw. W opracowaniu zaprezentowano definicję sektora małych i średnich przedsiębiorstw, cele i potrzeby wprowadzenia standardu. W dalszej części przeprowadzono opis standardów, dokonano jego oceny, a także przedstawiono opinie przedstawicieli wybranych organizacji księgowych i audytorskich w Europie. Poddano analizie wpływ MSSF dla MŚP na sektor MŚP oraz badania dotyczące MSSF dla MŚP. Zaprezentowano krajowe systemy rachunkowości po wprowadzeniu tych standardów, a także zarysowano ich przyszłość na świecie i dokonano oceny całego projektu.

10

Impact of the global financial crisis on cooperation between SMEs and banks

80%

Bednarz J., Markiewicz M.

Przedsiębiorstwo we współczesnej gospodarce - teoria i praktyka

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2012

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vol. 1

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issue 1

15-25

PL

Sektor MSP pełni kluczową rolę w rozwoju polskiej gospodarki. Jest on często postrzegany przez banki jako obiecujący i dochodowy, ale jednocześnie dość ryzykowny. Ryzyko to wynika najczęściej z dość krótkiej obecności tych firm na rynku oraz braku dobrej jakości zabezpieczeń spłaty kredytu. Analizując sytuację różnych grup podmiotów na rynku usług finansowych można powiedzieć, iż pozycja MSP jest raczej słaba. Wynika to z wielu czynników: gorszego dostępu do informacji, niższej ich jakości oraz niższego poziomu wiedzy merytorycznej w zakresie świadczonych usług finansowych. Jednym z wielu problemów, z którymi borykają się te przedsiębiorstwa jest utrudniony dostęp do zewnętrznych źródeł finansowania. Są one niezbędne do prowadzenia bieżącej działalności, jak również umożliwiają ich dalszy rozwój. Problem ten pogłębił od 2008 roku globalny kryzys gospodarczy i finansowy, a zwłaszcza brak zaufania m.in. pomiędzy instytucjami finansowymi i podmiotami gospodarczymi. Celem artykułu jest ukazanie wpływu globalnego kryzysu na relacje pomiędzy bankami a MSP.

EN

The sector of SMEs plays a key role in the economic development in Poland. On the other hand they belong to the group of units that is characterized with the weakest position in the market. Practice and theory show that SMEs seek for the financial means for running their activities and for investments. The problem with the financing strongly appeared in the time of the financial and economic crisis, when SMEs and entrepreneurs have suffered a double shock: a drastic plummet in demand for goods and services and the tightening in credit terms, which were ruthlessly disturbing their cash flows.

11

Born Globals in Poland: Development Factors and Research Overview

80%

Pilarska C., Wałęga G.

Argumenta Oeconomica Cracoviensia

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2020

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issue 1(22)

59-72

EN

80%

Lewandowska A., Stopa M.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2019

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vol. 14

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issue 3

521-536

EN

Research background: Innovation is a very important pillar within a knowledge-based economy, in the regional and local perspective as well. A literature review on innovation and SME innovation strategies to their correlation and the possibility of their joint examination. Purpose of the article: The aim of this paper is to explore the SME?s innovation strategies and their impact on effectiveness of innovation in a peripheral region. We investigate the effects of innovation activities not only among small and medium, but also micro firms which are not covered in official innovation surveys by the national statistical offices. We proposed a model of implementing innovation, and tested our hypotheses. Methods: Research was based on data drawn from CATIs carried out among 419 firms, therefore making a conceptual contribution to the knowledge on innovation strategy. The main statistical test for relationships and dependencies was the chi-square independence test. To arbitrate whether there were statistically significant differences between medians due to different factors among enterprises, analysis for variance (H Kruskal-Wallis? test for k independent samples) procedure was implemented. Findings & Value added: The results of our research show that among SMEs in peripheral regions dominated those which we call ?pragmatists? and ?imitators? in context of their approach towards innovation. The significance of objective factors showed that there was a lack of enterprises that could play the role of ?creators of innovation? in the peripheral region. However, the examined firms more often noticed positive than negative aspects of introduced innovations, which is determined by the scale of enterprise; they were focused mainly on the consequences of innovation for their products and services.

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