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Assessing The Importance Of Market Risk And Its Sources In Smes Of The Visegrad Group And Serbia

Author

Listed:
  • Jan Dvorsky

    (Department of Enterprise Economics, Faculty of Management and Economics, Thomas Bata University, Czech Republic)

  • József Popp

    (Institute of Sectoral Economics and Methodology, Faculty of Economics and Business, University of Debrecen, Hungary)

  • Zuzana Virglerova

    (Centre for Applied Economic Research, Faculty of Management and Economics, Thomas Bata University, Czech Republic)

  • Sándor Kovács

    (Institute of Sectoral Economics and Methodology, Faculty of Economics and Business, University of Debrecen, Hungary)

  • Judit Oláh

    (Institute of Applied Informatics and Logistics, Faculty of Economics and Business, University of Debrecen, Hungary)

Abstract

The main goal of the paper is to assess the market risk sources of small and medium-sized enterprises in the V4 and Serbia according to the business environment of the countries analyzed. To achieve this goal, a questionnaire-based survey was carried out involving 1,905 small and medium-sized enterprises in these countries. Market risk sources include: losing customers, strong competition in the area of business, stagnation of the market, and unreliability of suppliers. Mathematical statistics tools (PivotTables, Relative Frequency, goodness of fit and Z-Score) were used to compare the evaluation of selected market risk sources. According to the entrepreneurs’ evaluation, the partial results of this research show that the most serious source of market risk is losing customers (22%). The country of operation of the entrepreneurs is a statistically significant factor when evaluating all sources of risk. There are statistically significant differences between entrepreneurs in the countries analyzed when evaluating - the high and very high intensity of - the following market risk sources: "losing customers", "stagnation of the market" and "unreliability of suppliers".

Suggested Citation

  • Jan Dvorsky & József Popp & Zuzana Virglerova & Sándor Kovács & Judit Oláh, 2018. "Assessing The Importance Of Market Risk And Its Sources In Smes Of The Visegrad Group And Serbia," Advances in Decision Sciences, Asia University, Taiwan, vol. 22(1), pages 230-255, December.
    • Handle: RePEc:aag:wpaper:v:22:y:2018:i:1:p:230-255
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    References listed on IDEAS

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    2. Dewi Hanggraeni & Beata Ślusarczyk & Liyu Adhi Kasari Sulung & Athor Subroto, 2019. "The Impact of Internal, External and Enterprise Risk Management on the Performance of Micro, Small and Medium Enterprises," Sustainability, MDPI, vol. 11(7), pages 1-17, April.
    3. Md. Rabbi & Syed Mithun Ali & Golam Kabir & Zuhayer Mahtab & Sanjoy Kumar Paul, 2020. "Green Supply Chain Performance Prediction Using a Bayesian Belief Network," Sustainability, MDPI, vol. 12(3), pages 1-19, February.
    4. Judit Oláh & Sándor Kovács & Zuzana Virglerova & Zoltán Lakner & Maria Kovacova & József Popp, 2019. "Analysis and Comparison of Economic and Financial Risk Sources in SMEs of the Visegrad Group and Serbia," Sustainability, MDPI, vol. 11(7), pages 1-19, March.
    5. Mirza Muhammad Naseer & Muhammad Asif Khan & József Popp & Judit Oláh, 2021. "Firm, Industry and Macroeconomics Dynamics of Stock Returns: A Case of Pakistan Non-Financial Sector," JRFM, MDPI, vol. 14(5), pages 1-18, April.
    6. Zuzana Virglerova & Eva Ivanova & Jan Dvorsky & Jaroslav Belas & Tomáš Krulický, 2021. "Selected factors of internationalisation and their impact on the SME perception of the market risk," Oeconomia Copernicana, Institute of Economic Research, vol. 12(4), pages 1011-1032, December.
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    8. Dervis Kirikkaleli & Pelin Yaylali & Okan Veli Safakli, 2020. "The Perception and Culture of Operational Risk in the Banking Sector: Evidence From Northern Cyprus," SAGE Open, , vol. 10(4), pages 21582440209, October.
    9. László BÚZA & László ÓZSVÁRI, 2019. "Comparative Study On Risk And Critical Management Factors For Prdc From The Central-European Vets’ And Farm Managers’," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 21, pages 221-227, December.
    10. Judit Oláh & Zuzana Virglerova & József Popp & Jana Kliestikova & Sándor Kovács, 2019. "The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia," Sustainability, MDPI, vol. 11(17), pages 1-19, September.
    11. Nestor Shpak & Marta Naychuk-Khrushch & Ulyana Kohut & Mykhailo Honchar & Włodzimierz Sroka, 2020. "The Usage of Modern Instruments of Business Planning Administration for Small Enterprises: A Case Study Analysis," Central European Business Review, Prague University of Economics and Business, vol. 2020(1), pages 20-42.
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    More about this item

    Keywords

    entrepreneurs; market risk; small and medium size business; source of risk;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance

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