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Approach of the SME entrepreneurs to financial risk management in relation to gender and level of education

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dc.title Approach of the SME entrepreneurs to financial risk management in relation to gender and level of education en
dc.contributor.author Belás, Jaroslav
dc.contributor.author Ključnikov, Aleksandr
dc.contributor.author Vojtovič, Sergej
dc.contributor.author Sobeková-Májková, Monika
dc.relation.ispartof Economics and Sociology
dc.identifier.issn 2071-789X Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2015
utb.relation.volume 8
utb.relation.issue 4
dc.citation.spage 32
dc.citation.epage 42
dc.type article
dc.language.iso en
dc.publisher Centre of Sociological Research
dc.identifier.doi 10.14254/2071-789X.2015/8-4/2
dc.relation.uri http://www.economics-sociology.eu/?en_vol.-8-no-4-2015,47
dc.subject small and medium enterprises en
dc.subject gender of entrepreneurs en
dc.subject education of entrepreneurs en
dc.subject financial risk management en
dc.description.abstract Financial risk management is an important area of management of small and medium-sized enterprises (SMEs). The ability of SMEs to grow highly depends on their potential to invest money to the development of their companies. These investments need capital and therefore an access to internal or external financial sources. Many authors agree that SMEs have restricted access to external sources of financing. The aim of this article is to define and compare important determinants of financial risk in the segment of small and medium-sized enterprises. The research of entrepreneurs' opinions was carried out in 2015 in the Czech Republic, and was focused of the investigation of the influence of such factors as gender and level of education of entrepreneurs on the approach to financial risk management. We found out that three quarters of entrepreneurs in the segment of SMEs in the Czech Republic perceive the intense action of financial risk, but at the same time their ability to properly manage financial risks in the segment of SMEs is not at an appropriate level. The importance of financial risk increased during the crisis, which is reflected in the challenging approach of SMEs to external funding. We found that only relatively small number of entrepreneurs creates the financial reserves in their companies, and so this approach does not have the significant weight in the SME segment. Significant differences in approaches of the SME entrepreneurs to financial risk management in relation to gender and level of education were not identified. © 2015, Centre of Sociological Research. All rights reserved. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1005806
utb.identifier.obdid 43873630
utb.identifier.scopus 2-s2.0-84951169524
utb.identifier.wok 000367012900002
utb.source j-wok
dc.date.accessioned 2016-04-12T11:51:59Z
dc.date.available 2016-04-12T11:51:59Z
dc.rights Attribution 3.0 International
dc.rights.uri http://creativecommons.org/licenses/by/3.0/
dc.rights.access openAccess
utb.contributor.internalauthor Belás, Jaroslav
utb.fulltext.affiliation Jaroslav Belás, Aleksandr Ključnikov, Sergej Vojtovič, Monika Sobeková-Májková Department of Enterprise Economics, Tomas Bata University in Zlin, Zlin, Czech Republic, E-mail: belas111@gmail.com Department of Entrepreneurship and Management, University of Business and Law, Ostrava, Czech Republic, E-mail: kliuchnikov@gmail.com Department of Management and Human Resources Development, Alexander Dubcek University of Trencin, Trencin, Slovakia, E-mail: sergej.vojtovic@tnuni.sk Pan-European University, Bratislava, Slovakia, E-mail: monika.majkova@centrum.sk
utb.fulltext.dates Received: June, 2015 1st Revision: October, 2015 Accepted: December, 2015
utb.fulltext.ou Department of Business Administration
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