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Influence of selected factors on financial risk management in SMEs in the Czech Republic

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dc.title Influence of selected factors on financial risk management in SMEs in the Czech Republic en
dc.contributor.author Virglerová, Zuzana
dc.contributor.author Kozubíková, Ludmila
dc.contributor.author Vojtovič, Sergej
dc.relation.ispartof Montenegrin Journal of Economics
dc.identifier.issn 1800-5845 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2016
utb.relation.volume 12
utb.relation.issue 1
dc.citation.spage 21
dc.citation.epage 36
dc.type article
dc.language.iso en
dc.publisher Economic Laboratory Transition Research Podgorica-Elit
dc.identifier.doi 10.14254/1800-5845.2016/12-1/1
dc.relation.uri http://www.mnje.com/en/vol-12-no-1
dc.relation.uri http://www.mnje.com/sites/mnje.com/files/21-36_zuzana_virglerova_ludmila_kozubikova_and_sergej_vojtovic.pdf
dc.subject Financial risks en
dc.subject small and medium-sized enterprises en
dc.subject financial crisis en
dc.description.abstract The aim of this article is to analyze risk management and the influence of selected factors on approaches to financial risk management in the small and medium-sized enterprises in Czech Republic. For this analysis there were used the results of the research conducted at Tomas Bata University in Zlin in 2015. As part of the research there were addressed entrepreneurs of SMEs in individual regions of the Czech Republic by a form of a questionnaire survey. Research covered a survey of the business environment in the Czech Republic, where for this article there were used questions regarding the perception of financial risks' influence, their importance, the ability to manage financial risks and the use of instruments for their elimination. As part of the survey a total of 1,141 respondents from all regions of the Czech Republic have answered our questions. It was found out that more than 75% of the surveyed entrepreneurs perceive the effect of financial risks in the business environment, but only 28.5% of businessmen believe that entrepreneurs have the ability to manage these risks. With the use of creation of reserves as a tool to eliminate the negative impact of financial risks has agreed only 45% of the interviewed entrepreneurs. It was also found that opinions on the ability to manage financial risks and the increasing importance of financial risk in times of crisis vary according to the age of the entrepreneur and the age of his company. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1006337
utb.identifier.obdid 43874914
utb.identifier.wok 000373058700002
utb.source j-wok
dc.date.accessioned 2016-06-22T12:14:48Z
dc.date.available 2016-06-22T12:14:48Z
dc.rights Attribution 3.0 Unported
dc.rights.uri http://creativecommons.org/licenses/by/3.0/
dc.rights.access openAccess
utb.contributor.internalauthor Virglerová, Zuzana
utb.contributor.internalauthor Kozubíková, Ludmila
utb.fulltext.affiliation Rastislav Rajnoha1, Petr Novák2, and Martina Merková3 1 Assoc. prof. Rastislav Rajnoha, PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, T. G. Masaryka 5555, 760 01 Zlín, Czech Republic, E-mail: rajnoha@fame.utb.cz 2 Ing. Petr Novák, PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, T. G. Masaryka 5555, 760 01 Zlín, Czech Republic, E-mail:pnovak@fame.utb.cz 3 Ing. Martina Merková, PhD., Technical University in Zvolen, Faculty of Wood Sciences and Technology, T. G. Masaryka 24, 960 53 Zvolen, Slovak Republic E-mail: merkova@tuzvo.sk
utb.fulltext.dates Received March 22, 2016 Received in revised form - Accepted May 30, 2016 Available online June 15, 2016
utb.fulltext.sponsorship This paper is the partial result of the Ministry of Education of Slovak Republic grant project VEGA Nr. 1/0537/16 - Methods and models of Strategic Business Performance Management and their comparison in companies and multinational corporations. This paper is one of the research outputs of the project GA 14-21654P/P403 “Variability of Cost Groups and Its Projection in the Costing Systems of Manufacturing Enterprises” registered at the Czech Science Foundation.
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