Ludmila Kozubikova

Tomas Bata University in Zlín · Department of Enterprise Economics

The financial management of a business is an integral part of strategic management. Small and medium-sized enterprises (SMEs) are vulnerable to the presence of crisis events in the business environment. In this context, senior managers and owners need to react promptly to emerging changes in a given business segment. The aim of the article is to qu...

The article aims to identify disparities in the perception of business risks between the owners and managers of small and medium-sized enterprises (SMEs) in the V4 countries. The statements of strategic, market, personnel, legal and operational risks are the research's subject. Disparities of attitudes on the business risks were verified on the sam...

This article aims to find out which business risks determine the perception of the business environment of small and medium-sized enterprises (SME) in the future. 454 SMEs from the Czech Republic participated in the case study by filling in an online questionnaire. Linear regression models were used to verify statistically significant causal relati...

Research background: The identification of risks and their management is a key task of strategic management. The right and early identification of risk sources can help companies to survive not only during a crisis period. However, small and medium enterprises (SMEs) underestimate the necessity to analyze risks and implement the enterprise risk man...

The article aims to identify and quantify significant social factors that determine the quality of the business environment (QBE) of small and medium-sized enterprises (SMEs) in the Czech Republic and Slovakia. The case study was carried out through a questionnaire that was completed by 641 SMEs. To evaluate the questionnaire multiple linear regres...

This article aims to define and analyze important factors of the introduction of a local currency. The research was carried out in the Cieszyn Silesia region. A questionnaire was prepared and distributed among the employees of both public and private companies in the region and filled in by 422 respondents. Advanced data analysis methods were used...

Effective implementation of EO attributes represents an important factor of SMEs’ success on the target market, and significantly determines its long-term existence. The aim of this paper was to define and quantify the significance of EO factors influencing SMEs business orientation. In connection to the defined target, separate research was conduc...

The aim of this paper is to define and quantify important technological factors that shape the quality of the business environment in the SME segment. In regards to this aim, survey based research was conducted among enterprises in the SME segment. 312 enterprises in the Czech Republic and 329 enterprises in the Slovak Republic were approached. Que...

The research of personality characteristics of small and medium-sized enterprise (SME) entrepreneurs in relation to EO constructs is an important part of the research of the whole entrepreneurial environment of small and medium-sized enterprises. The aim of this paper is to search for a relationship between personality traits and the attitude towar...

The main purpose of this article is to show dependencies between education and gender based on selected motivation factors. In order to obtain relevant data, the questionnaire method was used. In the years 2013–2016, 26,416 respondents participated. Descriptive statistics was used for data processing; the relationship between two categorical variab...

Motivation of entrepreneurs must be appropriate to the level of risk they are facing in their businesses. Some entrepreneurs can perceive profit or financial motivation as a subsidiary motive and can start their own business with non-financial motives, e.g., apprehending business as a mission. The aim of this article is to identify the relationship...

New businesses arising at the market usually operate in the sector of small and medium-sized enterprises and account for a significant part of the whole global economy. Not only the success of a start-up company, but also its sequel within the SME sector are significantly influenced by entrepreneur's personality. The aim of this article is to explo...

Vzhledem k nedostatku interních a vlastních zdrojů v malých a středních podnicích (MSP), je dluhové financování nevyhnutelnou součástí celkové hodnoty kapitálu podniku. Cílem tohoto článku je zjistit, jaké znalosti dluhového financování (ve smyslu jeho ceny a rizika) mají podnikatelé MSP. Současně jsme se pokusili zjistit rozdíly v těchto znalostec...

Business orientation is a key factor of a successful functioning, direction and progressof small and medium-sized enterprises (SMEs). The aim of the paper is to define and quantify the significance of given factors influencing the SMEs business orientation. The paper examines innovativeness and risk taking. Information necessaryfor research evaluat...

The issue of payment discipline is strongly interconnected with the competitiveness of companies. The aim of this article is to examine the opinions of entrepreneurs from SMEs in Slovakia on the payment discipline issue and its consequences, including the risk of insolvency and lowered competitiveness, and to compare the results in terms of the def...

This paper investigates the determinants of loan maturity of small and medium enterprises (SMEs) in the context of Visegrad countries: Czech Republic, Slovak Republic, Poland, and Hungary. The data of instead of for this paper was obtained from the Business Environment and Enterprise Performance Survey (BEEPS), which is a joint project of the Europ...

Small and medium-sized enterprises (SMEs) are crucial, and not only for the Czech economy. Their sustainable growth is important for the economy of most European countries. Because of this, the issues surrounding their financing, government support and public perception are widely discussed. The problems connected with external financing of SMEs ar...

The purpose of this comparative study is to explore the differences in the entrepreneurial orientation (EO) between micro versus small and medium enterprises (SMEs). We have selected three dimensions of EO (proactiveness, competitive aggressiveness and autonomy) for our analysis. We have analyzed the data collected from 1141 respondents during the...

The objective of this comprehensive research is to identify and explore the dissimilarities of gender and education level of entrepreneurs and enterprises’ age with regards to entrepreneurial orientation (EO) in the segment of micro enterprises. All of the dimensions of EO are included such as innovativeness, risk taking, proactiveness, competitive...

The aim of this article is to explore the question of autonomy as an element of entrepreneurial orientation (EO) in the segment of small and mediumsized enterprises (SMEs) in the Czech Republic. In relation to the independence of the researched companies, we have investigated whether the evaluation of an independent position of the companies differ...

The objective of this comprehensive research is to identify and explore the dissimilarities of gender and education level of entrepreneurs and enterprises’ age with regards to entrepreneurial orientation (EO) in the segment of micro enterprises. All of the dimensions of EO are included such as innovativeness, risk taking, proactiveness, competitive...

This article defines and quantifies important factors of the quality of the business environment for small and medium-sized firms (SMEs) in the Czech Republic.To do so, itcompares the attitudes of entrepreneurs categorized by gender, education, age and firm size. A study of the business environment was conducted in 2015 from a sample of 1,141 respo...

The aim of this article is to evaluate the differences in the attitude of micro-enterprises´ entrepreneurs to the selected constructs of entrepreneurial orientation (EO), specifically to innovativeness and competitive aggressiveness according to the selected socio-demographic factors (gender, education and duration of doing business by the firm). T...

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 addre...

The aim of this article is to examine the approach to innovativeness and risk-taking between microenterprises and others (small and medium-sized) in Czech Republic. The findings revealed that the researched entrepreneurs consider innovation policy being part of corporate policy as important. 62% of them regularly develop new products and services,...

The article examines the selected aspects of financial risk of SMEs in the Czech Republic and Slovakia. Significant attributes of financial risks are defined and attitudes of entrepreneurs to risk are compared. Czech entrepreneurs were less critical in the opinion that SMEs have difficulties in gaining access to external sources of financing. It wa...

The issue of business in the segment of small and medium-sized companies is a very actual area of scientific research today. Currently, great importance is given to research of personal and knowledge preconditions of people for doing business. The aim of this article was to examine the relationship between personality characteristics and approach t...

The aim of this article is to examine the influence of selected socio-demographic factors (gender, education, size and duration of action of the firm) on the differences in approach to selected constructs of entrepreneurial orientation (EO) in the area of small and medium-sized enterprises (SMEs), concretely to innovativeness, proactivity and compe...

Small and medium enterprises (SME) represent an essential part of an economic system as they positively influence important macroeconomic data. The aim of this article is to define significant determinants of quality of business environment of SME in the Czech Republic and to quantify differences between selected social groups of entrepreneurs. We...