Personality types of entrepreneurs and selected attributes of credit risk in the SME segment. A case study from Czech Republic and Slovakia

Abstract

The aim of this article was to examine the relationship between personality characteristics and approach to the perception and management of credit risks. Based on the preferred personality qualities and knowledge the entrepreneurs have been included into two categories, namely they are artist-entrepreneurs and businessmen-laborers, also the differences in their entrepreneurial attitudes have been examined. Our results showed that there are differences in the attitudes of these two categories of entrepreneurs in approaching credit risk, where it was found out that the defined categories of business have different approaches to knowledge of credit conditions of commercial banks. According to the findings of our research, there are significant differences between defined types of businessmen while evaluating changes to the current approach of commercial banks in lending to SMEs in comparison to the pre-crisis period. The results of our study have showed a high degree of confidence of individual groups of entrepreneurs when evaluating their ability to manage financial risks in the company.