The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management
The international business environment is very competitive, and enterprises should be aware of how to manage business risks, which methods to choose, and what impact these risks have on the sustainability of these methods and on the whole system. The aim of this article is to analyse the impact o...
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Academy of Economic Studies of Bucharest
2020-08-01
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doaj-bd0779591f0b465d8e542e62a51e88b22020-11-25T03:31:01ZengAcademy of Economic Studies of BucharestAmfiteatru Economic1582-91462247-91042020-08-01225579280710.24818/EA/2020/55/792The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk ManagementZuzana Virglerova0https://orcid.org/0000-0002-7957-9216Muhammad Asif Khan1https://orcid.org/0000-0002-1938-4580Raimonda Martinkute-Kauliene 2https://orcid.org/0000-0003-4231-5003Sandor Kovács3Tomas Bata University in Zlín, Czech RepublicUniversity of Kotli, Jammu and Kashmir, PakistanVilnius Gediminas Technical University, LithuaniaUniversity of Debrecen, HungaryThe international business environment is very competitive, and enterprises should be aware of how to manage business risks, which methods to choose, and what impact these risks have on the sustainability of these methods and on the whole system. The aim of this article is to analyse the impact of the internationalization of SMEs on risk management and define the differences in perceptions of the importance of sustainability regarding this system. Data from an extensive research study in V4 countries (Czech Republic, Hungary Slovakia, Poland) were analysed. Data were collected through on-line questionnaire in 2018, and a total of 1781 valid responses by SMEs were included in this research. To fulfil the research aim, three hypotheses were established. The odds ratio was calculated for the effect of company type (international x domestic) on the different individuals responsible for risk management. The Tarantula similarity measure was calculated to measure the strength and pairwise relationships between risk reducing strategies and risk management techniques. The Chi-Square test was applied to assess differences between variables. The results show that a specialized risk manager is authorized to deal with risk management in international companies more often than in domestic companies. There are also differences in the relationship between risk managing techniques and risk reducing strategies, depending on the presence of the business on international market. Companies in the international market are more focused on methods of risk management which support sustainability and their system of risk management has a more stable future.https://www.amfiteatrueconomic.ro/temp/Article_2931.pdfrisk managerv4 (czech republichungary slovakiapoland)enterpriserisk managementermsustainability |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Zuzana Virglerova Muhammad Asif Khan Raimonda Martinkute-Kauliene Sandor Kovács |
spellingShingle |
Zuzana Virglerova Muhammad Asif Khan Raimonda Martinkute-Kauliene Sandor Kovács The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management Amfiteatru Economic risk manager v4 (czech republic hungary slovakia poland) enterprise risk management erm sustainability |
author_facet |
Zuzana Virglerova Muhammad Asif Khan Raimonda Martinkute-Kauliene Sandor Kovács |
author_sort |
Zuzana Virglerova |
title |
The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management |
title_short |
The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management |
title_full |
The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management |
title_fullStr |
The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management |
title_full_unstemmed |
The Internationalization of SMEs in Central Europe and Its Impact on Their Methods of Risk Management |
title_sort |
internationalization of smes in central europe and its impact on their methods of risk management |
publisher |
Academy of Economic Studies of Bucharest |
series |
Amfiteatru Economic |
issn |
1582-9146 2247-9104 |
publishDate |
2020-08-01 |
description |
The international business environment is very competitive, and enterprises should be
aware of how to manage business risks, which methods to choose, and what impact these
risks have on the sustainability of these methods and on the whole system. The aim of this
article is to analyse the impact of the internationalization of SMEs on risk management and
define the differences in perceptions of the importance of sustainability regarding this
system. Data from an extensive research study in V4 countries (Czech Republic, Hungary
Slovakia, Poland) were analysed. Data were collected through on-line questionnaire in
2018, and a total of 1781 valid responses by SMEs were included in this research. To fulfil
the research aim, three hypotheses were established. The odds ratio was calculated for the
effect of company type (international x domestic) on the different individuals responsible
for risk management. The Tarantula similarity measure was calculated to measure the
strength and pairwise relationships between risk reducing strategies and risk management
techniques. The Chi-Square test was applied to assess differences between variables. The
results show that a specialized risk manager is authorized to deal with risk management in
international companies more often than in domestic companies. There are also differences
in the relationship between risk managing techniques and risk reducing strategies,
depending on the presence of the business on international market. Companies in the
international market are more focused on methods of risk management which support
sustainability and their system of risk management has a more stable future. |
topic |
risk manager v4 (czech republic hungary slovakia poland) enterprise risk management erm sustainability |
url |
https://www.amfiteatrueconomic.ro/temp/Article_2931.pdf |
work_keys_str_mv |
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