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1
Pervin, Aron. "A Conversation with Henry Mintzberg." Family Business Review 10, no. 2 (June 1997): 185–98. http://dx.doi.org/10.1111/j.1741-6248.1997.00185.x.
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Henry Mintzberg is both Cleghorn Professor of Management Studies at McGill University in Montreal, Canada, and professor of organization at INSEAD in Fontainebleau, France. His research deals with issues of general management and organizations; his current focus is on the nature and styles of managerial work, as well as forms of organizing and on the strategy formation process. He also heads up a team of people from five universities around the world, a group working to establish what they hope will be “next generation management education”—specifically, a master's program aimed at the “development in context” of practicing managers. His own teaching activities focus on ad hoc seminars for experienced managers and work with doctoral students. Over the years, he has worked with a number of substantial family firms and contributed to a film about a patriarchal Canadian grocery family enterprise, Steinberg's. Mintzberg received his doctorate and master of science degrees from MIT's Sloan School of Management and his mechanical engineering degree from McGill. Mintzberg is the author of the Nature of Managerial Work (1973), The Structuring of Organizations (1983), The Strategy Process (a textbook with James Brian Quinn, now in its third edition), Mintzberg on Management (1989), The Rise and Fall of Strategic Planning (1994), and the Canadian Condition: Reflections of a “Pure Cotton ” (1995). He has written about a hundred articles, including two Harvard Business Review McKinsey prize winners, “The Manager's Job: Folklore and Fact” and “Crafting Strategy.” FBR talked to Mintzberg about planning, collaboration, boards, governance and his new management program.
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Nuryani, Nunung. "PENGARUH BIAYA AUDIT TERHADAP KUALITAS AUDIT DAN DETERMINAN BIAYA AUDIT." Jurnal Akuntansi 9, no. 2 (August 15, 2020): 32–47. http://dx.doi.org/10.46806/ja.v9i2.760.
Full textAbstract:
Financial information is one of the important information in decision making. However, many cases of fraud committed by management so that the information in the financial statements cannot be relied upon in decision making. Therefore, the auditor's job is to ensure that the company's financial statements are represented correctly (faithful representation) so that financial statement information becomes more quality and useful in making decisions. So this study aims to examine the effect of audit fee on audit quality. In addition, this study also examines important determinants of audit costs, namely company size, profitability, audit risk, complexity, and firm size. By using the purposive sampling method, samples of the financial and manufacturing industry in 2010-2017 used are 39 firms per year. This sample is used to examine the effect of audit fee on audit quality and the determinant of audit fee using simple linear regression analysis and multiple linear regression analysis. The result of this research shows that audit fees have a significant positive effect on audit quality. In addition, this study shows that firm size, complexity, and firm size are important determinants that determine audit fee. However, profitability and audit risk have not been proven to explain audit fees.
Keywords: Audit Quality, Audit Fee, Firm Size, Profitability, Audit Risk, Complexity, Auditor Size
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Konrath, Larry F. (2002), Auditing A Risk Analysis Approach, Fifth Edition, South Western.
Kusharyanti (2013), Analysis of the Factors Determining the Audit Fee. Journal of Economics, Business, and Accountancy | Ventura, 16(1), 147–160.
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Chen, Feng. "Business Model of Supply Chain Finance." Scientific and Social Research 4, no. 5 (May 30, 2022): 35–41. http://dx.doi.org/10.26689/ssr.v4i5.3915.
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Supply chain finance is a new type of financial product designed by commercial banks to provide financial aid for the weak medium and small-sized enterprises in the supply chain. It can effectively eliminate the obstacles of information asymmetry between banks and enterprises, but also effectively solve the problem faced by the medium and small-sized enterprises in getting bank credit loan due to insufficient mortgage, as well help them to improve the core competitiveness of commercial banks, eventually bring new profit growth for commercial banks and the third-party logistics enterprises. This paper, introduces some different financial models of supply chain finance, for medium and small-sized enterprises which can be considered, adopted or used according to their own situation.
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Barton, Tina. "Small Business and Social Enterprise: To Thrive Not Fail." Papers in Canadian Economic Development 18 (April 11, 2019): 17. http://dx.doi.org/10.15353/pced.v18i0.91.
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<p>Small businesses (those with up to 99 employees) are the most common business type in Canada – comprising 97.9 per cent of businesses, and contributing close to one-third of Canada’s gross domestic product (GDP). Yet a significant number of these businesses fail, with only about 50 per cent lasting at least five years, according to Industry Canada. Social enterprises – businesses that provide valuable products or services while delivering social and sometime environmental returns – struggle even more than small businesses to attract finance, grow, and sustain. What are the similarities and differences between these two groups’ needs, and how can Canada’s three levels of government and the broader business ecosystem better support small businesses and social enterprises to thrive? This paper takes a comprehensive look at key business needs, barriers to success, enabling factors, and policy incentives, drawing upon academic literature, studies and reports from the government, non-profit, and social enterprise sectors, as well as recommendations from business advocacy groups primarily from Canada and the United States. </p><p><strong>Keywords: </strong>Small business, social enterprise, business financing, business growth, business ecosystem, procurement policy</p>
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Sedova, N. V. "Finance Sustainability of Entities of Small and Medium Business Working in Trade." Vestnik of the Plekhanov Russian University of Economics, no. 2 (April 13, 2022): 168–75. http://dx.doi.org/10.21686/2413-2829-2022-2-168-175.
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The current situation in Russian economy advances serious demands to small and medium enterprises. The author of the article suggests plotting a finance plan at enterprises in accordance with the set goals and requirements of today’s economy in order to minimize uncertainty of the market environment and its adverse affects. The finance plan can help them balance their expenses and attain profit growth, which can contribute to winning new positions on market. Small and medium enterprises are characterized by good flexibility, which gives them an opportunity to adapt to the changing situation on market and stay competitive in any conditions. Small and medium entrepreneurship fosters a drop in unemployment by increasing the number of jobs, raising the volume of goods and services on market, which can have a positive impact on the social sphere. Enterprises of small and medium business are an integral part of healthy competition on market and it means an opposition to monopolies, free development and diversity in property forms. Small and medium business support investment activity at the expense of re-distribution of resources into the sphere of small and medium enterprises.
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Kiconco, Rebecca Isabella, Waliya Gwokyalya, Arthur Sserwanga, and Waswa Balunywa. "Tax compliance behaviour of small business enterprises in Uganda." Journal of Financial Crime 26, no. 4 (October 7, 2019): 1117–32. http://dx.doi.org/10.1108/jfc-03-2018-0031.
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Purpose This study aims to investigate the extent to which the theory of reasoned action (TRA) can be used to explain tax compliance among small business enterprises (SBEs) in Uganda and extends the application and relevance of the theory to a new area of tax compliance. It contributes the TRA, as a predictor of tax compliance in a developing country context. Design/methodology/approach A cross-sectional survey targeting different categories of SBEs was carried out using interviewer-administered questionnaires. A sample of 384 SBEs was used in the study. Findings The TRA contributes critical insights on the tax compliance behaviour of small businesses in developing economies. It influences tax compliance behaviour. The study illustrates evidence about the negative attitudes SBEs have on intentions to comply with tax regulations and the extent to which these attitudes influence their compliance behaviour. Subjective norms positively influence tax compliance intentions in a positive manner. Overall, the appearance of these intentions shows a negative effect on tax compliance behaviour. These findings also imply that Uganda Revenue Authority needs to understand the social psychology of taxpayers and tailor these in their policies and efforts to increase compliance. Research limitations/implications The TRA has been used to explain behaviour in numerous situations in psychology. The study used this theory in a new geographical, economic and administrative environment; Uganda. This theory has proved relevant in explaining psychological, sociological and economic behaviour; specifically tax compliance. The TRA was revised to include a new construct of perceived behavioural control, which turned into the theory of planned behaviour. This could not be studied due to time and logistic constraints. Therefore, there is a need to investigate if this revised theory can explain tax compliance behaviour better. Practical implications The paper suggests that tax administration efforts and policies should consider the social-psychology aspects of the taxpayers to improve tax compliance. Originality/value This study adds a new arena of explaining tax compliance from a theory commonly used in psychology to a new setting in finance.
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Zhao, Yuting. "Risk Prediction for Internet Financial Enterprises by Deep Learning Algorithm and Sustainable Development of Business Transformation." Journal of Global Information Management 30, no. 7 (September 2022): 1–16. http://dx.doi.org/10.4018/jgim.300741.
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It is necessary to find new ideas of business transformation of traditional financial enterprises under the background of Internet finance. Based on DL (deep learning) algorithm, the BPNN (Back Propagation neural network) model and Vector Autoregression model are used to analyze the business conflict of commercial banks among traditional financial enterprises under Internet finance. The business integration point of the two is found through the impulse response analysis of the impact of the Internet financial business on the traditional financial industry. Then, the DL algorithm based on BPNN is used to obtain the optimal solution of business integration, to promote the transformation of traditional financial services under the background of Internet finance. The results show that there is a close correlation between Internet finance and traditional financial business. The initial conflicts between the two are serious, but as time passes, they have a trend of mutual integration.
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Urumov, T. "Access to Finance for Small-and Medium-Sized Enterprises in Modern Reality." Analysis and Forecasting. IMEMO Journal, no. 3 (2020): 44–50. http://dx.doi.org/10.20542/afij-2020-3-44-50.
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Small-and medium-sized Enterprises (SMEs) in many countries nowadays face financial shortages and challenges in attracting new financial resources. In today’s new reality technologies and innovative business models become crucial for increasing access to financial services and enhancing long-term economic growth. Digital technologies have been actively developing even before the pandemic of COVID-19. However, during the lockdown and the economic crisis caused by the pandemic the development of digital platforms has accelerated. Digital commerce and payments have become much more significant in the first half of 2020. That fact stimulated many SMEs to improve their digital capabilities. The “new” reality motivates the enterprises to use big data analysis and artificial intelligence in decision making process. The modern technologic capabilities are used in two directions. The first direction is the digitalization of organizational aspects of SMEs activities, for instance, transferring business meetings and conferences into online forms. The second one, which is even more important, suggests financial digitalization. This means using digital technologies to attract financial resources for business needs. Financial digitalization requires some specific measures, including improving the existing mechanisms of traditional loan financing through the use of new technologies and big data analysis; stimulating closer interaction between financial institutions and SMEs; drafting appropriate legislation to regulate the digital financial technologies sphere.
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Satta, Tadeo Andrew. "Policy Changes and Bank Finance Availability for Small Enterprises in Tanzania." International Journal of Entrepreneurship and Innovation 7, no. 1 (February 2006): 59–68. http://dx.doi.org/10.5367/000000006775870433.
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This paper examines whether financial-sector policy changes introduced in Tanzania during the last decade have improved bank finance availability to small enterprises. Study findings reveal that, despite these changes, the level of bank finance to small enterprises is still insignificant. Results likewise indicate that, apart from bringing about limited competition in the provision of financial services, these changes have resulted in the concentration of most financial institutions in urban areas and in only a few regions/provinces. This also negatively affects bank finance availability to small enterprises. These findings have several policy implications for the growth of small enterprises in the country. Key among them is the need for a new approach to policy that will improve bank finance availability to small enterprises.
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Zheng, Danting. "Analysis of the Current Situation of Supply Chain Finance and Risk Control—Based on the Perspective of Commercial Banks." Financial Forum 9, no. 4 (January 28, 2021): 191. http://dx.doi.org/10.18282/ff.v9i4.1533.
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<p>China’s economic policy system has been greatly adjusted up till the present moment. The scale of small and medium-sized enterprises mortgage lending is limited, but the demand for funds is increasing, and the need for core enterprises to grow and develop is increasing, supply chain finance effectively solved the needs of the above enterprises. Supply chain finance promotes the development of trade and commerce business, reduces financing risk, become a new business of commercial banks. Compared to traditional banking business, it reduces certain credit risk and improves the utility of funds, but China’s supply chain financial system is not perfect enough, with a certain degree of system operation risk. Focus on the analysis of supply chain finance status quo, analyze China’s supply chain development status and prospects, assess and analyze the risk, and do a good job of risk prevention and control. As an important part of the supply chain, commercial banks are necessary to pay attention to various risk points to the supply chain of the financing subject. Avoiding and reducing the risk of supply chain finance business are the top priority issues required to be solved for commercial banks.</p>
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Mwatsika, Charles. "Implications of the understanding of Entrepreneurship in Local Economic Development in Malawi." Journal of Development and Communication Studies 8, no. 2 (October 7, 2021): 1–20. http://dx.doi.org/10.4314/jdcs.v8i2.1.
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The study analyses knowledge about entrepreneurship which guides entrepreneurial behaviour in enterprises in Malawi in order to reflect on its implications in local economic development. Top-of the-mind definition which collects unaided responses from the top of respondents’ mind was used. Definitions or explanations of entrepreneurship and entrepreneurial activities undertaken were recorded from 337 enterprises. Innovations carried out by the enterprises were measured in new products, new production methods, new markets and new enterprises together with the values realised. Content analyses, descriptive statistics and comparison of means were used to classify the definitions of entrepreneurship, entrepreneurial activities undertaken and compare values of innovations carried out. The study finds that entrepreneurship is predominantly defined as starting and managing one’s own business, being self-employed and creating jobs in the economy. Petty income generating activities and subsistence oriented micro and small enterprises dominate. The prevailing understanding of entrepreneurship guides policy, education and training, SME finance, infrastructure development and support towards unproductive entrepreneurial activities which would not ignite economic development. Therefore, much as institutions are established to support SME sector growth and improve the environment for business, improving knowledge about productive entrepreneurship that guides SME policy, finance, entrepreneurship education and training is pertinent in Malawi.
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Yue, Xiaochen. "Discussion on the Full Implementation of New Revenue Standard in Enterprises." Global Finance Review 3, no. 1 (July 14, 2021): 13. http://dx.doi.org/10.18282/gfr.v3i1.1645.
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In July 2017, the Ministry of Finance issued the "Accounting Standards for Business Enterprises No.14 - Revenue" (hereinafter referred to as the "new revenue standard") .It has revised the regulations on the recognition and measurement of enterprise accounting income.It complements and modifies the old revenue standard,improves the unreasonable places, improves the accounting income information quality in our country. It can see the real situation of the enterprise operation activity more clearly. The state has referred to the international accounting standards when revising the system of accounting standards for business enterprises.The change of income standards will inevitably have an impact on many enterprises.This paper introduces the specific content of the change of the new revenue standard, and then it puts forward some measures to implement the new revenue standard. It hopes to bring effective help to various enterprises.
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Lorincová, Silvia, Andrej Miklošík, and Miloš Hitka. "THE ROLE OF CORPORATE CULTURE IN ECONOMIC DEVELOPMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES." Technological and Economic Development of Economy 28, no. 1 (December 2, 2021): 220–38. http://dx.doi.org/10.3846/tede.2021.15983.
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Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification. It needs to be monitored and evaluated together with “hard” business indicators. The research explores the key values that should be applied in corporate culture at the strategic level to support the economic development of small and medium-sized enterprises. The differences between small and medium-sized enterprises operating in the industrial sector in Slovakia are defined. As managers have a direct impact on the creation of corporate culture, their preferences regarding corporate culture are examined, using the methodology of Cameron and Quinn. The results of the research prove the preference for applying key values typical for a clan culture. Following the results, it is recommended managers to focus on supporting a clan culture that develops employees. It is the employees who create and build values, bring new, innovative ideas, and with their abilities and skills influence the performance, competitive advantage, economic development, and success of the entire enterprise as well as economic development of small and medium-sized enterprises.
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Ren, Shaomin. "Optimization of Enterprise Financial Management and Decision-Making Systems Based on Big Data." Journal of Mathematics 2022 (January 20, 2022): 1–11. http://dx.doi.org/10.1155/2022/1708506.
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Based on information asymmetry theory, principal-agent theory, and risk management theory, this paper analyzes the mechanism of the impact of big data on financial decision-making, analyzing four dimensions: how big data enhances the information base for forecasting, how big data improves the relevance of decision-making, how big data builds new competitive advantages, and how big data promotes dynamic decision-making. Secondly, through the analysis of specific implementation cases of enterprise big data in financial decision-making, we focus on the real problems faced in management and the effect of solving problems through big data platform. The enterprise realizing the integration of business and finance not only can better lead business expansion, but also can improve the management level within the enterprise, which is conducive to the improvement of core competitiveness. The integration of industry and finance is essentially achieved through the application of various financial management modules to the business operations of enterprises, including budget management, capital management, fixed asset management, and financial accounting. If we want to implement the whole process of financial integration, it is impossible to achieve this manually, and we must first build a powerful information system as a guarantee. Under the guidance of theories of information asymmetry, stakeholders, and management information systems, Internet finance enterprises should build their own integrated business finance system based on the demand for business finance integration in the Internet finance industry, to enhance the matching of business finance data of Internet finance enterprises, improve the efficiency of enterprise management, and realize business finance integration. Finally, through the research of this paper, we hope to provide reference for other similar enterprises to apply big data for financial decision-making. Through the application of big data, higher economic benefits are achieved in procurement management, production control, capital budget, and investment decision compared with the previous ones. It is concluded that in the era of big data, massive data can be used to serve enterprise decision-making in depth, which can break the business and financial barriers, improve the efficiency and quality of decision-making, optimize the organizational structure and personnel, and enhance the prediction and early warning capability. The application of big data tools has become the key to assisting financial decision-making and enhancing enterprise value.
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Lukasiewicz, Mariusz. "Finance, Investment and Decolonisation in Nigeria." Zeitschrift für Unternehmensgeschichte 67, no. 2 (September 8, 2022): 189–217. http://dx.doi.org/10.1515/zug-2022-0016.
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Abstract Given the relative scarcity of capital and the small volume of savings in most African economies at independence, the establishment of stock exchanges and their regulation showed that several countries considered them as strategic financial intermediaries for channelling capital to their national, and even regional, economies. This article examines the Lagos Stock Exchange’s formative years as a political process of Nigeria’s decolonisation and the First Republic. Originally incorporated as a private limited liability company on 15 September 1960, and as the first stock exchange in West Africa and the region’s largest economy, the new financial intermediary defined the relationship between the post-independence state and the growing capital market during a period of considerable political and economic changes. The role of the post-independence state and state-owned enterprises in facilitating the trade on the Lagos Stock Exchange broadens the analytical scope of this investigation to identify the sources of Nigeria’s development finance. While significant efforts were taken to grow private individual participation in the share trade and ownership, the early years of the Lagos Stock Exchange were ultimately marked by the dominance of institutional investors such as state-owned enterprises and private commercial banks.
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Laksmanawati, Junia, and Ahyar Yuniawan. "Women and the Digitalization Strategies of Micro, Small, and Medium Enterprises in the New Normal Era." Petra International Journal of Business Studies 4, no. 1 (June 25, 2021): 55–64. http://dx.doi.org/10.9744/ijbs.4.1.55-64.
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This paper is based upon research to study the development of women entrepreneurs in Indonesia with emphasis on motivation to begin small business (MSMEs) and digitalization strategies in doing their businesses. The research was based on a literature review and a small field survey of women holding small business (MSMEs) in Semarang. After analyzing the data from the interviews, many respondents stated that their early motivation in running their own businesses was as a means to get additional incomes in finance. Evidence shows that as entrepreneurs, dealing with digitalization is a thing that cannot be avoided in the new normal era. To optimize their business operations and revenue, some adjustments and strategies are conducted such as optimizing digital marketing, seeing business opportunities, creating innovations, creating new markets, and executing marketing plan.
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Lian, GuoHua. "Research on Credit Algorithm of International Trade Enterprises Based on Blockchain." Mathematical Problems in Engineering 2022 (September 13, 2022): 1–10. http://dx.doi.org/10.1155/2022/4768868.
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Lack of trust, lack of standards, and low efficiency are the three biggest problems in China’s trade financing at present. With the development and application of new generation technologies such as big data, cloud computing, artificial intelligence, and blockchain technology, China is in the stage of financial technology 3.0 under the deep integration of finance and technology. In the field of financial technology, the most concerned is the application of blockchain technology in trade finance business. With the successive construction of various blockchain platforms and the acceleration of the internationalization process, the international trade credit risk behind it is also increasing. Among many financial services, trade finance is the most closely integrated field with blockchain technology. In this context, preventing the risks in the business process of international trade enterprises, so as to reduce the cost of financial transactions, improve the effectiveness of financial services, and better serve the real economy is not only the internal development needs of enterprises, but also the national financial strategy needs. In view of the above problems, this paper analyzes the risk factors faced by multinational trading enterprises in the transaction process through the transaction data of some multinational enterprises on mobile phones, and constructs a credit evaluation system of international trading enterprises based on blockchain, in order to enhance the trade risk resistance ability of international trading companies.
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Gulbrandsen, Trygve. "Flexibility in Norwegian Family-Owned Enterprises." Family Business Review 18, no. 1 (March 2005): 57–76. http://dx.doi.org/10.1111/j.1741-6248.2005.00030.x.
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This article discusses whether family ownership affects a firm's adoption of flexible manpower and organization practices. The results presented in the article show that the important divide is not between family-owned and nonfamily businesses: family businesses with a professional top manager differ from nonfamily firms only as regards one of seven flexibility measures. More important is whether the owners choose to be in charge of the day-to-day running of the firm themselves (owner-management) or leave it to a professional manager. In owner-managed family businesses, five out of seven practices for increased flexibility prevail less frequently than in both family businesses with a professional manager and nonfamily firms. Owner-managers are, then, more skeptical of adopting new management principles and personnel policies than are professional managers.
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Fiodorov, I. G., and A. N. Sotnikov. "Analysis and Justification of the Effect of Digital Transformation of Enterprises and Organizations." Open Education 26, no. 5 (November 13, 2022): 61–69. http://dx.doi.org/10.21686/1818-4243-2022-5-61-69.
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The purpose of the study. The article is devoted to the analysis and justification of the effect of digital transformation of enterprises based on the development of effective business models that support modern digital technologies and ensure increased labour productivity. A critical analysis of the impact of digitalization on business efficiency has been carried out. It is shown that the introduction of modern digital technologies does not automatically increase the efficiency of companies, but it is necessary to carry out changes within the company as part of new business models. An urgent task is set to investigate the models of changes in organizational and economic relations at enterprises as a result of the adaptation of the principles and methods of Scientific Organization of Labour (SOL) in relation to new digital technologies.Materials and methods of research. The article provides an analytical review of a large number of publications devoted to substantiating the effect of digital transformation of enterprises and organizations. As research methods, the analysis of complex changes in the mechanisms of coordination of performers of business processes, redistribution of their functions, and modification of the organizational structure of the enterprise based on the method of Scientific Organization of Labour is proposed. The use of a combination of these methods will allow the implementation of corporate information systems in accordance with a business model adequate to the conditions of the enterprise, taking into account the principles and methods of Scientific Organization of Labour.Results. It is proposed to separate the external and internal aspects of the digital transformation of the enterprise. As an external aspect, the influence of digital technologies on changing business models is justified from the point of view of a new business strategy. As an internal aspect, it is proposed to consider the change in organizational and economic relations of employees of enterprises in production and business processes, taking into account the principles and methods of Scientific Organization of Labour.Conclusion. The novelty of the research lies in the substantiation of the effect of digital transformation of the enterprise based on the development of principles and methods of Scientific Organization of Labour (SOL); in the systematic consideration of the concept of digital transformation, in which the condition of necessity is the use of adequate digital technologies in the business processes of the enterprise, and the condition of sufficiency is a change in organizational and economic relations within the framework of the business models being implemented. As a recommendation, the need to include research on the adaptation of methods of Scientific Organization of Labour in relation to the digital transformation of domestic enterprises and organizations in national technological initiatives is justified. These studies should be based on the achievements of the Russian scientific school in the fields of system analysis, cybernetics and computer science.
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Daskalakis, Nikolaos, Nikolaos Eriotis, Eleni Thanou, and Dimitrios Vasiliou. "Capital structure and size: new evidence across the broad spectrum of SMEs." Managerial Finance 40, no. 12 (December 1, 2014): 1207–22. http://dx.doi.org/10.1108/mf-11-2013-0325.
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Purpose – The purpose of this paper is to add to the existing literature by examining a number of hypotheses relating to the capital structure decision in relation to the firms’ size, namely by distinguishing among micro, small and medium firms. Design/methodology/approach – The paper examines the hypothesis that the factors determining capital structure are different for firms belonging to different size groups. The authors use a panel data model capturing the dynamic concept of capital structure. Findings – The authors find that whereas the size of the firm does affect how much debt a firm will issue, it does not influence the relationship between the other regressors and debt usage. Research limitations/implications – The paper examines the small and medium enterprises (SMEs). Does not examine the large firms. Practical implications – During the last decade there has been a gradually increasing interest shown in the field of SMEs. These enterprises represent important parts of all economies in terms of both their total number and their job offer and job creation. For example, in the European Union (EU), in 2005, SMEs accounted for 99.8 percent of the total number of enterprises operating in EU-27, covering 66.7 of total employment in the non-financial business economy sector. Social implications – This paper relates capital structure decision to firms’ size distinguishing them among micro, small and medium firms. Originality/value – The paper tests differences in capital structure determination among different size groups of enterprises in a dynamic framework for more than one year.
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Doutriaux, Jérôme, and Margaret Barker. "University and Industry in Canada." Industry and Higher Education 10, no. 2 (April 1996): 88–102. http://dx.doi.org/10.1177/095042229601000205.
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University—industry relationships in science and technology in Canada are changing. A review of the data on R&D activities in Canadian universities points to a rise in industrial sponsorship from about 4% of total university-based research in 1980 to 11% in 1993. There are various reasons for this increase, but it is clear that government university—industry programmes have played a major role. There is also evidence of increasing cooperation between Canadian higher education and business in the planning, design and delivery of teaching and service activities. The Canadian infrastructure for university—industry interaction is composed of many organizations and levels, and new programmes or modifications to traditional approaches are continually being developed. Organizations have responded to the need to make university—industry programming more relevant to small and medium-sized enterprises, and are making some headway in cooperation. Nevertheless, an effective integration of the university—industry aspect into a national or regional system, with inclusion of all the relevant actors, still poses a challenge.
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Üçüncü, Çiğdem. "Özel Eğitim İşletmelerinde Stratejik Yönetim Uygulamasına Yönelik Ulusal Literatür Araştırması." Journal of Social Research and Behavioral Sciences 8, no. 16 (August 15, 2022): 542–47. http://dx.doi.org/10.52096/jsrbs.8.16.35.
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In this study, it is investigated how tactical finance management understanding is applied in a strategic sense in special education enterprises. During the study process, the financial management problems encountered in these special education enterprises were examined by scanning the literature on how the strategic financial management understanding is applied in special education enterprises. It has been found that the solution to the financial problems experienced in private education enterprises around the world cannot be developed in the new globalized economy model, and it has been observed that this situation reduces the competitiveness of private education enterprises with different enterprises in the market. In the ultimate sense, in the business special education local, regional, and his life in the process of increasing competition on a global scale and move from the idea that can substitute special education by evaluating their understanding of healthy financial management of enterprises to their problems, long-term, constructive, efficient and it was concluded that a proper solution should offer suggestions for. Key Words: Business Administration, Special Education Enterprises, Strategic Management
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Ching Chi Heng, Lina, and Carlos Noronha. "The impact of the new Accounting Standards for Business Enterprises (ASBE) on financial results of mainland Chinese listed companies." Advances in Accounting 27, no. 1 (June 2011): 156–65. http://dx.doi.org/10.1016/j.adiac.2011.04.006.
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Ali, Husniyati, Badrul Hisham Kamaruddin, and Ismail Ahmad. "The Application of Shari’ah Contract in Islamic Financing Guarantee Schemes of Credit Guarantee Corporation (CGC)." ADVANCES IN BUSINESS RESEARCH INTERNATIONAL JOURNAL 5, no. 2 (September 30, 2019): 7. http://dx.doi.org/10.24191/abrij.v5i2.9968.
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Islamic financing is regarded as one of the financing alternatives that enterprises may utilize to fund their business. This financing type is characterized as free from riba and is based on illiquid assets which create real assets and inventories. The aim of this conceptual paper is to highlight the Shari’ah contract of al Kafalah that is used by Credit Guarantee Corporation (CGC) to attach to its Islamic financing guarantee scheme offered to business enterprises. Kafalah refers to an obligation to pay in the event the principal debtor is unable to honour his obligation. Through this Shari’ah contract, the CGC has indeed paved a new way of financing enterprises which are keen on having halal financing to fund their business activities. Most importantly, this addition of halal financing has accelerated the growth of Islamic finance in Malaysia.
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Ressin, Marat. "Product Innovation Paradigm of Modern Entrepreneurship." Quality Innovation Prosperity 26, no. 3 (November 30, 2022): 190–209. http://dx.doi.org/10.12776/qip.v26i3.1752.
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Purpose: The work is devoted to quantifying the main dependencies and contradictions between the introduction of innovation and corporate development of modern entrepreneurship forms. Methodology/Approach: In this study, the main analysis method is the use of fuzzy knowledge bases to select the best management practices. The research allows one to understand the impact of innovation on the effectiveness of business models and what ways in management can be used to increase resilience to the influence of external factors. Findings: The creation of new combinations of practices based on the knowledge base makes successful management of an enterprise’s innovative development. To form a base, the results of global surveys and ratings of enterprises-leaders of innovative development became the basis. Research Limitation/Implication: The study examines some aspects in the innovation management of enterprises in Canada. Canada’s own specificity of innovative activity management caused the interest of research. Namely, an innovative society is being formed there based on a high level of education and knowledge, allowing higher rates of the country’s development. Originality/Value of paper: The paper examines the current economic and financial condition of innovative enterprises in Canada and the need to change the financial and economic policy to form a strong competitive position, in times of crisis and further economic growth. The results of this study can be applied in modern entrepreneurship, regardless of the scale of business.
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Krasniqi, Drita. "Participation of Women in the Conduct of Companies." PRIZREN SOCIAL SCIENCE JOURNAL 3, no. 1 (April 26, 2019): 32. http://dx.doi.org/10.32936/pssj.v3i1.82.
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The structure of the business owners who own firms is an important indicator and gender is treated in terms of business founders, their age group and level of education and professional training for business management.
In any economy with market gender structure of owners of firms in business is analyzed and treated with the utmost care, with the aim in this field are performed equal gender rights and to support equal access to opportunities for establishing new businesses
Gender structure of the owners of enterprises is an important element in analyzing and monitoring the activities of enterprises. Although in our country women's participation in the leadership of enterprises its small, in recent years has been seen an increase of female participation in the registration of enterprises.
The purpose of this research is to produce results relevant to the current situation, structure, problems, difficulties, and to measure the trend of development of micro, small and medium enterprises, to determine the criteria and advanced recommendations for the possibility of supporting the development of them.
Analysis of obstacles and difficulties for business development including: a lack of qualified staff, lack of training in various areas, the lack of market, using modern equipment, workspace, physical infrastructure, transportation, finance, legal, economic and fiscal policies, offer the possibility of analysis, creation and research methods and methodologies to support small enterprises and medium enterprises in our country.
Key words: Economic, Management, Businesses, Structure of SME, Developmet.
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Dvořáková, Lilia, Jakub Horák, Zdeněk Caha, Veronika Machová, Simona Hašková, Zuzana Rowland, and Tomáš Krulický. "Adaptation of small and medium-sized enterprises in the service sector to the conditions of Industry 4.0 and Society 4.0: evidence from the Czech Republic." Economic Annals-ХХI 191, no. 7-8(1) (August 10, 2021): 67–87. http://dx.doi.org/10.21003/ea.v191-06.
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Research background. The need for an in-time, efficient and effective adaptation of small and medium-sized enterprises in the service sector to the technical, economic, social and environmental conditions of Industry 4.0 and Society 4.0 is a current problem caused by the introduction of new information and communication technologies, cyber-physical systems and artificial intelligence into all economic industries and areas of human life. The advent of new technologies is changing the entire value chains of Industry 4.0 - Labor 4.0 - Education 4.0 - Thinking 4.0, creating conditions for new business models but also pressure on flexibility and personalization of services or triggering new requirements for cyber security and the interdisciplinarity of access of small and medium-sized enterprises - providers and users of services. The current global COVID-19 health pandemic (2020-2021), with its economic and social impacts on all economic industries, has accelerated the use of disruptive technologies, principles, procedures, methods and tools of Industry 4.0 and Society 4.0 and the need for the support of small and medium-sized enterprises in the service sector in adapting to changes in the business environment. Purpose of the article. The main objective of the research is to validate, evaluate and discuss the functionality and content of the created methodology of adaptation of small and medium-sized enterprises in the service sector to the implementation of the principles, procedures, methods and tools of Society 4.0 and its applicability in business practice, specifically focusing on small and medium-sized enterprises in the area of knowledge-intensive services. An integral part of the research is to assess selected negative and positive impacts of the COVID-19 pandemic on business processes in the context of issues being tackled. Methodology. The methodological procedure to validate the functionality and content of the created methodology of the adaptation of small and medium-sized enterprises in the service sector to the conditions of Society 4.0 is based on the strategy of mixed research. An explorative sequence design was used as a key design of mixed dynamically oriented research, during which quantitative data collection, analysis and evaluation formed the basis for qualitative analysis and evaluation, which resulted in the interpretation and discussion of the research results and, at the end of the paper, the formulation of the issues that will be the next area of scientific research activity of the author’s team. In the quantitative part of the research, Fisher’s exact test was used for the verification of difference statistics in data obtained from testing a sample of micro, small and medium-sized enterprises and from external project application sponsors providing services to this category of enterprises. In the qualitative part of the research, the Atlas.ti software was used for the evaluation of information obtained with respect to the methodology of adaptation of small and medium-sized enterprises for encoding, processing and interpretation of qualitative data and semantic networks were created for the individual sub-categories of evaluation. Findings & Value Added. The research result proved that the adequacy of the content and functionality of the checked methodology of adaptation of SMEs strongly corresponds to the needs and requirements of micro and small enterprises in particular that conduct business in the area of knowledge-intensive services. Barriers, limits, needs and potential in individual categories of micro, small and medium-sized enterprises were identified which are related to the use of technologies and tools of Society 4.0, to new requirements for knowledge and skills qualifications of labor and to the relation of SMEs to innovations in business processes. The results of validation of the methodology of adaptation of SMEs in the knowledge-intensive service sector confirmed that the created methodology of adaptation of small and medium-sized enterprises is applicable to the implementation of the principles, procedures, methods and tools of Society 4.0. in the real conditions of business practice.
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Lewandowska, Lucyna. "The capital barrier to innovation in the small and medium-sized enterprises." Comparative Economic Research. Central and Eastern Europe 12, no. 1-2 (February 11, 2010): 99–113. http://dx.doi.org/10.2478/v10103-009-0006-7.
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The article discusses SMEs' situation with reference to the process of creating an innovative economy. The presented discussion covers both non-material and financial barriers impeding the development of innovations. The examined range of new solutions designed to finance innovation includes types of capital support such as leasing, franchising, venture capital, Business Angels, NewConnect.
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De Massis, Alfredo, Josip Kotlar, Federico Frattini, James J. Chrisman, and Mattias Nordqvist. "Family Governance at Work." Family Business Review 29, no. 2 (January 6, 2016): 189–213. http://dx.doi.org/10.1177/0894486515622722.
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A growing body of research is concerned with how family governance influences innovation. Yet the organizational issues that family governance engenders for innovation processes have been largely overlooked. In a study of six small- and medium-size family enterprises, we investigate the design decisions that fit family and business logics to create high-performing new product development programs. Our results reveal three design principles concerning teams, leadership, and incentives that diverge from customary approaches of organizing for new product development, adding important dimensions to the determinants of successful new product development in small- and medium-size family enterprises.
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F. A., Alabi. "A Study on the Relationship Between New Business Start Up and Micro Credit Institution and Business Growth of Small Scale Enterprises." Business Management and Strategy 10, no. 1 (June 30, 2019): 181. http://dx.doi.org/10.5296/bms.v10i1.14533.
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This academic study evaluates the evaluate the relationship between new business start up and micro credit institution and business growth of small scale enterprises that operates in six states that made up the South-west geopolitical zone of Nigeria. The study, which is based on descriptive research methodology, involved the use of data from both primary and secondary sources. The stratified sampling technique was used for determining the sample population, while well structured questionnaires was used as the main tool for collection of primary data. The Microfinance Bank records of clients served as the main source of secondary data for this study. Both the descriptive and inferential analytical techniques of the SPSS packaged were used to analyze the data obtained from the respondents. The results indicated significant relationship between new business start-ups and business growth of Small Scale Enterprises (SSEs). The findings also revealed that increasing the start-up capital will increase the chances of business survival and growth. Consequently, we recommend that the federal, state and local government should create lending programs that will enable aspiring entrepreneurs to have more access to microcredit. We also suggest that Nigerian government should enact laws and implement policies that will make it easier for small scale entrepreneurs to obtain finance necessary for the expansion of their businesses.
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Appiah, Bismark Kusi, Zhang Donghui, and Shapan Chandra Majumder. "Impact of ethnicity and self-employment on initial financing and business performance in entrepreneurship in China." Journal of Chinese Economic and Foreign Trade Studies 12, no. 3 (October 7, 2019): 151–66. http://dx.doi.org/10.1108/jcefts-06-2019-0033.
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Purpose The purpose of the current study is to analyze the influence that is caused by ethnicity and volunteer self-employment in entrepreneurship on the initial financing and business performance of Chinese enterprises. The increasing trend of entrepreneurship has raised certain ethnic challenges in entrepreneurship owing to globalization and now there are several minority groups that are running their households in China. So, the current study aims to assess whether the minority-operated and majority-operated firms have different access to initial financing and different business performance. Design/methodology/approach The data are collected from 25 Chinese enterprises about the current variables, and the relationships are tested. This study has used the ordinary least of square (OLS) regression model to examine the findings. Findings The purposive sampling is used in the current study because the purpose of the present research is to understand and study the role of ethnicity and self-employment in initial financing and business performance of Chinese enterprises and so the data was collected from related enterprises. This study has used the ordinary least of square (OLS) regression model to examine the findings. Originality/value The current findings have significant implications in theory and practice. This study will be a great addition to the literature because the self-employment has never been examined before in such models to assess the role of forceful or volunteer self-employment in entrepreneurship, and so, it will open new doors of research for future researchers.
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Karofsky, Paul I. "Interview with Ernie Boch Jr." Family Business Review 16, no. 1 (March 2003): 69–73. http://dx.doi.org/10.1111/j.1741-6248.2003.00069.x.
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Ernie Boch Jr. is the son of Ernie Boch, owner of the billion dollar New England Boch Enterprises. Ernie Boch Jr., vice-president of Boch Enterprises, takes a more laid back approach to this family business of automobile dealerships than his father, an extremely high-profile entrepreneur. After his father brings the customer through the door, Ernie Boch Jr. focuses on servicing him. In this interview with Ernie Boch, Jr., Paul I. Karofsky explores the history of the company and what makes it unique as well as Ernie Boch Jr.'s career track. Ernie Boch Jr. discusses how he differs from his father, plans for succession, and the enduring values and philosophy of this successful family business. He also reflects on the company's continuing success—his commitment to Boch Enterprises' long-standing philosophy of being No. 1, and his effort to bring the company into the modern age through technology.
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Bozec, Yves, and Jackie Di Vito. "Founder-Controlled Firms and R&D Investments: New Evidence From Canada." Family Business Review 32, no. 1 (August 17, 2018): 76–96. http://dx.doi.org/10.1177/0894486518793237.
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Our study investigates the R&D investment behavior of founder-controlled Canadian listed firms. We use De Massis et al.’s model of the sufficiency conditions of ability and willingness and adapt it to predict investments in R&D. As founder-controlled firms are heterogeneous in nature, we distinguish four categories: lone founder firms and family founder firms with and without excess voting rights. In line with our predictions, we find that only lone founder firms without excess voting rights have both the ability and the willingness to invest in R&D and so they invest more in R&D than their counterparts.
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Azdejkovic, Dragan, and Dusan Markovic. "The impact of cross-border acquisitions in Serbia on productivity, wages, and employment." Ekonomski anali 61, no. 211 (2016): 47–68. http://dx.doi.org/10.2298/eka1611047a.
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Globalization created a new business environment, characterized by intensive privatization and economic liberalization. The changed business environment opened the way to increased use of crossborder acquisitions, which make the lion?s share of foreign direct investment in transition economies. The acquisitions accelerate transition, facilitating the restructuring of state-owned enterprises and making them more efficient. This paper analyses the impact of cross-border acquisitions in Serbia, an economy in transition, on employee productivity, employment, and wages in acquisition targets. Statistical analysis of a sample comprising 79 cross-border acquisitions carried out in Serbia in the period 2003-2009 shows that the change of ownership had a positive impact on employee productivity and real wages, while the number of employees in the acquired enterprises decreased.
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Mohd Sauh, Shuhaimi, Moha Asri Abdullah, and Rozailin Abdul Rahman. "SUSTAINING THE GROWTH OF RURAL SMEs: EFFECT OF FINANCIAL ACCESS AND ENTREPRENEURIAL CHARACTERISTICS ON BUSINESS PERFORMANCE IN A FELDA SCHEME IN PAHANG." International Journal of Entrepreneurship and Management Practices 4, no. 13 (March 25, 2021): 89–108. http://dx.doi.org/10.35631/ijemp.413007.
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In Malaysia, Small and Medium Enterprises (SMEs) contribute more than one-third to the country’s gross domestic product (GDP). Past studies revealed that access to finance and entrepreneurial characteristics are often known as predictors of SMEs performance. Nonetheless, access to finance is still one of the pressing problems faced by SMEs in Malaysia. Studies on this topic have not been extensively explored particularly in the FELDA scheme. Hence, this paper attempts to investigate how access to finance and entrepreneurship characteristics affect SMEs business performance in the FELDA scheme. This study employed a survey research design. Data were collected from a sample of 368 SMEs and analysed using the Structural Equation Modelling (SEM). This study found the insignificant effect of access to finance on business performance. There was no significant effect of innovativeness and pro-activeness on business performance. Interestingly, risk-taking was directly related to SMEs business performance. Overall, findings imply that SMEs in the FELDA scheme have difficulties getting financial access, dare to take bold actions in business but they are lacking the propensity in introducing new business ideas and are not fast enough in taking advantage of new business opportunities. The paper recommends that government agencies should provide adequate business support and financial access to improve SMEs entrepreneurial capabilities and business performance.
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Peñarroya-Farell, Montserrat, and Francesc Miralles. "Business Model Adaptation to the COVID-19 Crisis: Strategic Response of the Spanish Cultural and Creative Firms." Journal of Open Innovation: Technology, Market, and Complexity 8, no. 1 (February 11, 2022): 39. http://dx.doi.org/10.3390/joitmc8010039.
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Surviving in a humanitarian disaster such as the COVID-19 pandemic is a big challenge for micro, small, and medium-sized enterprises in all industries. Furthermore, cultural and creative firms face additional challenges. Many of those firms have survived the effects of the pandemic by proposing redesigned business models that have brought new added value in response to environmental hostility; they have strategically responded to the crises by adapting their business model. According to the extant literature, in VUCA (volatile, uncertain, complex and ambiguous) environments, dynamic capabilities are developed to detect and seize new opportunities and reconfigure the company’s assets. However, in very hostile environments, such as the COVID-19 crisis, the dynamic capabilities approach fails to explain the firm owners’ strategic decisions. A cross-case comparative analysis of ten micro and small firms in Spain’s cultural and creative industries has been conducted to examine how enterprises adapted to the COVID-19 crisis and the different organizational capabilities they implemented. This work proposes a new framework that postulates that business model adaptation is better understood under the emergency management theory and improvisational capability, instead of only under the dynamic capabilities lens. Organizational proximity in the diffusion of innovations under the open innovation paradigm is also critical to understanding the business model adaptation. From an academic perspective, this article enriches the current understanding of business model asdaptation by micro, small, and medium-sized enterprises in very hostile environments. The new framework intends to offer managers concrete guidelines about systematically adapting their business models in hostile situations.
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Dong, Ming, Xinyan Ma, and Lin Fan. "Promoting Intelligent Finance, the Exploration and Innovation of Enterprise Financial Management System." Asian Business Research 7, no. 2 (March 29, 2022): 94. http://dx.doi.org/10.20849/abr.v7i2.1070.
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With the current changes in the trend of digital information technology, the development needs of the macroeconomic market within the new economic development stage and the international diversified economic wave, it is obvious that the financial management system of Chinese enterprises is no longer applicable.Then enterprise to promote intelligent finance, explore innovative enterprise financial management system for the urgent need. In view of the fact that, this article analyzes and discusses the problems belonging to the financial management system of Chinese enterprises at the existing stage, and creates a practicable path for the financial management system in a multi-dimensional and multi-level manner. The management of business operations and financial management is accompanied by a synchronised and optimized system for the management of communities, providing timely integration and dynamic quality enhancement.
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Kuzmina, E. Yu, I. V. Soklakova, and I. L. Surat. "INNOVATIVE DEVELOPMENT AS A FACTOR OF THE NATIONAL ECONOMY COMPETITIVENESS." Vestnik Universiteta, no. 2 (April 23, 2020): 63–67. http://dx.doi.org/10.26425/1816-4277-2020-2-63-67.
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Russian enterprises are not paying enough attention to the issues of innovative development, while global trends demonstrate the increase of enterprises competitiveness through the introduction of innovations. Innovations are able qualitatively improve enterprise performance indicators in conditions of tough competition. For many domestic enterprises, in such conditions the innovation and its specific results could be a key criterion of success. Lack of investment is the most important problem holding back innovations. The experience of support and development of innovations in Canada and South Korea has been considered in the article. It has been concluded that in general the Russian Federation is experiencing a global transfer to an innovative economy, which in the future should be an undoubted advantage for the production of competitive products. The creation of radically new products and services, as well as the enhancement of existing ones, will allow Russian enterprises systematically improve their image, increase their business reputation, which will attract more investments.
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Brzeziński, Stanisław, and Agnieszka Bitkowska. "Integrated Business Process Management in Contemporary Enterprises - a Challenge or a Necessity?" Contemporary Economics 16, no. 4 (December 31, 2022): 374–86. http://dx.doi.org/10.5709/ce.1897-9254.488.
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The progressing globalization processes and new technological solutions require the organiza- tion to constantly adapt to changes taking place in the environment. More and more compa- nies implement process management, both at the strategic and operational levels, considering the project and knowledge perspective. The article aims to show the usefulness of building the concept of integrated process management, based on the triad: processes, projects, knowl- edge in modern enterprises. The following research methods and techniques were used in the article: analysis of the literature on the subject, comparative analysis of the results of research carried out in the world, and the effects of own research carried out in Poland. The research has shown that usefulness of integrated business process management is ensured by the coordina- tion of processes and links with strategic and operational assumptions, synergies of processes, projects, and knowledge. Such a solution can help the organization and transformation pro- cesses in the effective implementation of the strategy.
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Mindzak, Justin, and Tao Zeng. "The impact of pyramid ownership on earnings management." Asian Review of Accounting 26, no. 2 (May 8, 2018): 208–24. http://dx.doi.org/10.1108/ara-11-2016-0130.
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PurposeUnlike firms listed in the USA, many large firms in Canada belong to business groups organized as pyramids. A pyramidal structure refers to a business group that consists of a set of enterprises or other entities and displays a top-down chain of control. The purpose of this paper is to investigate the relationship between pyramid ownership and earnings management.Design/methodology/approachThe paper is an empirical study using a sample of 165 Canadian listed firms from 2010 to 2015. The impact of pyramid ownership on both accrual-based and real earnings management is examined.FindingsThe findings show that pyramid-affiliated firms engage in less accrual-based and real earnings management than non-pyramid-affiliated firms. The results further show that the divergence between control rights and cash flow rights of the controlling shareholders in the pyramid-affiliated firms is positively related to real earnings management. Moreover, the results highlight that intra-group transactions (other than internal financing) among pyramid-affiliated firms lead to higher level of both accrual-based and real earnings management, but internal financing is negatively associated with real earnings management. Overall, this study provides the evidence which indicates that pyramid ownership structure and earnings management are related to each other.Originality/valueThe paper contributes to the earnings management literature by studying the impact of pyramid ownership structure on earnings management, especially real earnings management.
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Rajamani, K., N. Akbar Jan, A. K. Subramani, and A. Nirmal Raj. "Access to Finance: Challenges Faced by Micro, Small, and Medium Enterprises in India." Engineering Economics 33, no. 1 (February 28, 2022): 73–85. http://dx.doi.org/10.5755/j01.ee.33.1.27998.
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Access to finance plays a major role in the entrepreneurship development and economic growth of any country. It encourages new entrepreneurial initiatives. Timely access to finance sustains the survival and growth of micro, small, and medium enterprises (MSMEs). The purpose of this paper is to explore the challenges of access to finance faced by the MSMEs and to analyze their impact on their business performance. The survey was conducted in 400 MSMEs from various industrial clusters across India. The samples were selected using the quota sampling technique. The conceptual framework was developed and tested using the structural equation model (SEM). Results show that firm attributes, sources of finance, and the life cycle of an MSME have a significant positive impact on its access to finance, whereas financial obstacles have a negative impact that prevents the growth of MSME and affects the economic growth of the nation.
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Exposito, Alfonso, and Juan A. Sanchis-Llopis. "Innovation and business performance for Spanish SMEs: New evidence from a multi-dimensional approach." International Small Business Journal: Researching Entrepreneurship 36, no. 8 (June 19, 2018): 911–31. http://dx.doi.org/10.1177/0266242618782596.
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This article examines the impact of product, process and organisational innovations on two alternative dimensions of business performance: finance and operations. Two indicators capture financial performance: sales increase and production cost reduction. Operational firm performance is captured by two alternative indicators: productive capacity augmentation and quality improvement of product/service provided by the firm. Using a wide-ranging sample of Spanish small- and medium-sized enterprises (SMEs), our findings highlight the significant impact of innovation upon both these dimensions of business performance, although they differ regarding the type of innovation and the performance indicator considered. Furthermore, our results indicate that the relationship between innovation choices in SMEs and business performance should be analysed from a multi-dimensional approach. These findings reveal significant implications for innovation policies and strategies for SMEs.
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Kitaisky, Vladimir, Grigory Revinsky, Oleg Revinsky, and Vera Shvedova. "Industry preferences for foreign patenting of Russian innovation enterprises." Economic Annals-ХХI 189, no. 5-6(1) (June 10, 2021): 35–45. http://dx.doi.org/10.21003/ea.v189-04.
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Our paper is devoted to the science-research work carried out in the Russian State Academy of Intellectual Property (RSAIP) for revealing the role of foreign patenting for development of export of high-technology goods made by Russian manufacturers, first of all by small and medium-sized innovation enterprises. The results of study the patent documents indicating preferences of Russian innovation enterprises in foreign patenting of their new developments are presented in this paper. Preliminary conclusions on preferences in choice of countries for patenting and fields where innovations are made have been given. It is well known that the development of a competitive economy depends on the innovative activity of enterprises in the market. Understanding of terminology of innovation and invention opens up their economic and legal essence. A special and basic characteristic of innovation is creativity. In the Japanese business and management system, creativity is a production slogan and an inspiring idea, since creativity generates a person’s desire to improve in work through intelligence. A product that is new on a global level is recognized as an invention and is regulated by patent law. The state of the art for the invention includes all information that became publicly available in the world before the date of applying with the State Department of intellectual property. The aim of our study is to analyze the economic aspect of patenting made by the innovative companies in the world with attention to Russia, taking into account the role of innovation infrastructure. Modern concepts of innovative development of economic systems at various levels (state, region, industry, business entity) increasingly focus on the need for new forms of integration of scientific, industrial, commercial, and other resources to increase competitiveness. Domestic and foreign researchers, government, and business representatives pay attention to clusters as a promising form of integration and practical implementation of the idea of Public-Private Partnership for Innovative Industrial Development. The cluster approach allows combining the advantages of specialization, integration, and cooperation in increasing the competitiveness of business entities in a higher-level organizational and economic system (regional, industry cluster) by consolidating production, financial, intellectual, and managerial resources. Clustering of the innovation system in industry allows transition from supporting individual production enterprises or organizations that carry out scientific research to stimulating the development of relationships between them and other subjects of commercialization of scientific research.
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Lusweti, Christopher Busolo, and Evans Mwasiaji. "Microfinance Services and Performance of Women Owned Business Enterprises in Busia County, Kenya." International Journal of Current Aspects in Finance, Banking and Accounting 2, no. 3 (December 28, 2020): 24–37. http://dx.doi.org/10.35942/ijcfa.v2i3.151.
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The main purpose of this study was to determine the effects of microfinance services on women owned enterprises in Busia County. The study specific objectives included, to establish the effects of credit on performance of women owned business enterprises in Busia County, determine the effects of financial training on the performance of women owned enterprises in Busia County, examination of the effects of savings on performance of women owned business enterprises ,conceptualization of the effects of social capital on the performance of women owned business enterprises and examine the effects of legal framework on the inclusive business enterprises performance of women owned enterprises in Busia County. The study was guided mainly by the resource - based view theory and institutional theory, among others. The study adopted a descriptive survey research designs while study target population was 500 women owned entrepreneurs in Busia County, Kenya. Stratified random sampling technique was used and the sample size constituted 20% of the total target population thus making a simple size of 100 respondents for this study. The respondents were purposively selected women entrepreneurs, customers of the specific selected microfinance institutions found within Busia county business ecosystem. The questionnaires were used as a tool for primary data collection respectively, both qualitative and quantitative data analysis methodologies were applied by use of spss version 23.0.The study findings revealed that, an increase in credit, finance training, social capital, savings and legal framework by one unit leads to an increase in performance by 0.502, 0.124, 0.081, 0.236, and 0.059 units respectively with a p –value of < 0.05 for each variable. Based on the study findings the researcher can conclude that, women owned enterprises are key drivers to the economic development in Kenya and the study recommends that training program should be emphasized to enhance the financial literacy management for exemplary performance of the enterprises. Savings, social capital, financial training, legal framework and credit services significantly influences performances of women-owned business enterprises. According to the research findings, the frequency of trainings should be increased to keep them abreast with modern methodologies for better performance and financial training programs for women owned business enterprises should be designed to meet the standards needs for women entrepreneurs’ and more so the aspiring new entrants.
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Czerwonka, Leszek, and Jacek Jaworski. "Capital structure and its determinants in companies originating from two opposite sides of the European Union: Poland and Portugal." Economics and Business Review 8 (22), no. 1 (2022): 24–49. http://dx.doi.org/10.18559/ebr.2022.1.3.
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The aim of the paper is to identify differences in enterprises’ capital structure and its determinants in Poland and Portugal. The research applies statistical methods to the financial data of 22,775 Polish enterprises and 36,625 Portuguese enterprises for the years 2010–2017. The research results show that: (i) despite several years of ongoing economic integration in the EU differences in enterprises’ capital structure in old and new countries of the community still exist, (ii) in Portugal representing the old EU enterprises are more likely to use debt than in Poland being an emerging EU economy, (iii) in Polish enterprises, tangibility, profitability, liquidity and non-debt tax shield exert a negative impact on debt; while growth and size have a positive impact; in Portugal tangibility and a non-debt tax shield show the opposite, (iv) in both countries industry growth decreases indebtedness of enterprises while financial risk results in higher debt; in addition, in Portugal the capital intensity of industry increases the share of debt in capital structure.
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Kraus, Kateryna, Nataliia Kraus, and Oleksandr Manzhura. "Digitalization of Business Processes of Enterprises of the Ecosystem of Industry 4.0: Virtual-Real Aspect of Economic Growth Reserves." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (March 16, 2021): 569–80. http://dx.doi.org/10.37394/23207.2021.18.57.
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The purpose of the research is to present the features of digitization of business processes in enterprises as a foundation on which the gradual formation of Industry 4.0 and the search for economic growth in new virtual reality, which has every chance to be a decisive step in implementing digital strategy for Ukraine and development of the innovation ecosystem. Key problems that arise during the digitalization of business processes in enterprises are presented, among which are: the historical orientation of production to mass, “running” sizes and large batches; large-scale production load; the complexity of cooperation and logic between production sites. It is determined that high-quality and effective tools of innovation-digital transformation in the conditions of virtual reality should include: a single system of on-line order management for all enterprises (application registration – technical expertise – planning – performance control – shipment); Smart Factory, Predictive Maintenance, IIoT, CRM, SCM. Features of digital transformation in the part of formation of enterprises of the ecosystem of Industry 4.0 are revealed. The capabilities and benefits of using Azure cloud platform in enterprises, which includes more than 200 products and cloud services, are analyzed. Azure is said to support open source technologies, so businesses have the ability to use tools and technologies they prefer and are more useful. After conducting a thorough analysis of the acceleration of deep digitalization of business processes by enterprises, authors proposed to put into practice Aruba solution for tracking contacts in the fight against COVID-19. Aruba technology helps locate, allowing you to implement flexible solutions based on Aruba Partner Ecosystem using a USB interface. It is proposed to use SYNTEGRA – a data integration service that provides interactive analytics and provides data models and dashboards in order to accelerate the modernization of data storage and management, optimize reporting in the company and obtain real-time analytics. The possibilities of using Azure cloud platform during the digitization of business processes of enterprises of the ecosystem of Industry 4.0 in the conditions of virtual reality are determined.
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Ye, Hongyang. "Problems and Solutions of Balanced Scorecard in Small and Medium Sized Enterprises." Modern Management Forum 4, no. 3 (September 18, 2020): 82. http://dx.doi.org/10.18686/mmf.v4i3.2404.
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<p>The balanced scorecard is a new dynamic performance management system which is different from the traditional performance evaluation system. It effectively transforms the enterprise’s strategy into four operational dimensions: finance, customer, internal business process, learning and growth. This paper introduces the balanced scorecard and discusses the problems existing in the application of the balanced scorecard in small and medium-sized enterprises. It summarizes the solutions accordingly.</p>
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SYED UZAIR, DR. FAHAD KHAN AFRIDI, and DR. MUHAMMAD ADIL. "Impact of Micro Finance Institutes (MFI’s) on the Growth of Small and Medium Enterprises (SMEs) in Khyber Pakhtunkhwa." Journal of Business & Tourism 5, no. 1 (November 6, 2021): 195–214. http://dx.doi.org/10.34260/jbt.v5i1.127.
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Economic stability is very necessary for the development of economy a country. For this purpose industrialization plays a positive role in fulfilling this achievement. The trend of borrowing from Micro Finance Institutions increases day by day as business activities takes place. Also from political stability Foreign Direct Investment takes place resulting in boosting and competitive environment for domestic investors. MFIs serving in all cities of Pakistan focus on enhancing business activities on domestic level. Each and every bank has its own microfinance institution departments focusing mainly on fulfilling the access to finance through some easy steps for starting new ventures. From past some years Pakistan is facing a lot different situations in country like Political Instability, Terrorism and Unemployment. Now in this situation there is lack of foreign investment in our country. Meanwhile, Domestic Level Small & Medium Enterprises faces a lot of challenges while financing their own SMEs. State bank of Pakistan introduces Business Support Fund through which every bank has to facilitate investors with loans to increase new ventures startup which in turns can help out the economy. Trend of MFIs and SMEs had increase in Khyber Pakhtunkhwa as well like Faisalabad, Karachi and Lahore so do demand for credit investment increases resulting in MFIs with new ideas and proposals.
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Waite, James. "Reducing the Cost of Distance: Technological Change and the Globalization of New Zealand, 1960-2000." Global Economy Journal 4, no. 1 (October 13, 2004): 1850014. http://dx.doi.org/10.2202/1524-5861.1004.
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New technologies integrated New Zealand into the international economy after the 1960s. State investment in air services, international telecommunications, and container shipping enhanced access to overseas markets. They prepared the nation for the shock of Britain’s entry into the European Economic Community. Yet state-owned services were not responsive to demand and were often slow to lower the cost of conducting business between New Zealand and the outside world. This paper suggests that the deregulation and privatization of government-owned enterprises after 1984 quickly reduced the cost of distance, accelerating the globalization of New Zealand.
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Caciatori Junior, Itamir, and Ana Paula Mussi Szabo Cherobim. "Academic production and technological emergence in finance." Innovation & Management Review 17, no. 2 (January 2, 2020): 115–31. http://dx.doi.org/10.1108/inmr-01-2019-0005.
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Purpose This paper aims to study the FinTech enterprises and the management theories related to this subject in a scientific way. Design/methodology/approach This study is a bibliometric study on FinTech enterprises. Its origin is a survey of 1,749 papers in 6 traditional peer-reviewed academic databases (e.g. Science Direct and Scopus) and in the “gray” literature, published by other agents and not subject to double-blind peer review. In this analysis we use three approaches: academic paper or not; journal main interest, and main purpose of the paper. Findings The first approach shows 45% of papers without blind review. The second approach shows no concentration on any journal. It represents no concentration on any kind of specific journal. And the third approach shows four kinds of contents in all researched papers: FinTech categorizations; FinTech related to theory of disruptive innovation; FinTech and theories of administration or economy; and finally, FinTech and regulatory and legislative aspects. Originality/value The findings identified the emergence of new research strands, precedence of studies of “gray” literature to explain the phenomenon, distribution of studies in different fields of knowledge (e.g. information technology, business and law) and lack of consensus in theories to explain the matter.