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This paper analyses the impact of company size on the application of human resources (HR) investments. Data were collected through a questionnaire distributed to 610 SMEs in the Czech Republic. Properly completed questionnaires were obtained from 581 enterprises. The data were evaluated using the Chi-square test of independence, Kolmogorov-Smirnov normality test, Kruskal-Wallis test, and analysis of variance. Research questions were divided into four groups. The first group examined the application of HR investments as a reward, and the second group as a tool for increasing the interest in employment with the company. Another group focused on human capital management (HCM) and its impact on corporate financial performance. The last group dealt with HCM to improve the competitive advantage and the market position of the company. The results show that company size has a significant impact on the application of HC investments. In all groups, large enterprises (150+ employees) make investments to a greater extent than smaller companies. As for sector, the highest rating was recorded for companies operating in logistics and transport. The overall evaluation shows that large companies use the items more often, and no significant differences were recorded between different sectors. The findings may help large enterprises to realize that investment in human capital is long-term, increases competitiveness, and generates indirect returns. Small enterprises can also make investments in human capital, although to a limited extent, and it is not advisable to totally avoid such investments. The limitations are in the selected research method, the number of questions and respondents. [ABSTRACT FROM AUTHOR]

In this article, we investigate the capital structure determinants of the Visegrad group, namely the Czech Republic, Slovakia, Hungary, and Poland for small- and medium-sized enterprises (S.M.E.s) from 2011 to 2018. We compare the capital structures of S.M.E.s across all mentioned countries and define how these may impact capital structure choices. The results show S.M.E.s in these countries determine their capital structure in similar ways and all the factors analysed in this study (except for growth opportunity) provide robust explanatory power for companies across all four countries. We find that profitability, liquidity, firm size, assets structure, and non-debt tax (depreciation of total assets) have a significant negative impact on capital structure for all four countries. Our study should be of interest to policymakers and companies who want to optimise their capital structure in order to improve company performance. [ABSTRACT FROM AUTHOR]

This paper deals with the comparison of differences in the levels of the application of executives and managers' competences in companies divided by the number of employees and the line of business and identifies the differences based on this classification. Research data were collected via a questionnaire survey administered to 610 small and medium-sized enterprises in the Czech Republic. The subsequent analysis of the responses showed that it is possible to work with complete data from 581 companies. The data were then subjected to statistical calculations according to statistical methods, specifically, the general linear model (GLM), two-way ANOVA, and regression analysis. These methods were used for calculating the results and compiling auxiliary tables and graphs. The results show that in terms of the classification of the companies by their size (the number of employees), it is statistically clear that with the growing number of employees and thus the size of companies, the level of application of the competencies of managers and executives increases as well. The highest level was identified in companies with 150 or more employees, while the lowest was identified in small companies with no more than 9 employees. In terms of the classification of companies by line of business, there were no significant differences in the application of competences; therefore, it cannot be confirmed that any specific line of business shows a higher level of applying managers' and executives' competences. The results obtained can help small companies realize that although the application of competences is more typical for large enterprises, small companies must also pay attention to this topic if they want to grow in the future and increase their turnover. The results are limited by the methods chosen for the achievement of the objectives and data collection. Finally, the results were compared with the findings of other authors. [ABSTRACT FROM AUTHOR]

The current study investigates how institutional constraints and firms’ and entrepreneurs’ characteristics affect business recovery. Some elements have not yet been rigorously examined in the existing literature, especially not concerning the post-communist countries’ business recovery component and the same is the research gap current study intended to address. To evaluate the study model, ordinal logistic regression was used. More than 300 valid questionnaires are collected from the Czech Republic, Hungary, and Serbia. The findings show that factors such as firm tenure and size, location, sector, entrepreneurial motivation, product change, etc., have conflicting effects on business recovery. Some of the outcomes of the present study is supported by the existing studies and some requires further research. The study focuses on the less explored independent variables and their association with business recovery, specifically on SMEs, which highlights the paper’s originality. The output of the current study adds to the existing literature of business recovery and institutional constraints. Policymakers interested in removing institutional limitations and promoting a quicker business recovery for SMEs are drawn to the research. The study findings are also helpful from a managerial standpoint because business owners and managers significantly impact decisions about entrepreneur motivation, product change, and other issues. [ABSTRACT FROM AUTHOR]

Purpose. The aim of this study is to define and compare important attributes in business ethics according to company size and the gender and education of entrepreneurs in the SME sector in the four Visegrad countries (hereinafter V4). Design/methodology/approach. Empirical research which was aimed at uncovering the attitudes of small and medium-sized companies was carried out in June 2022 in the V4 countries (Czech Republic, Slovakia, Poland and Hungary) through the renowned external company MNFORCE. In the Czech Republic, the total number of respondents was 347. In the Slovak Republic, the total number of respondents was 322. In Poland, the total number of respondents was 381. In Hungary, the total number of respondents was 348. Statistical hypotheses were verified through descriptive statistics, the chi-squared test and Z-score at the α = 5% level of significance. Findings. The level of business ethics in the V4 countries is high. According to our findings, SMEs consider business ethics important; they consider the ethical consequences of their decisions when managing the company and enforce the rules of business ethics. We found partial differences in the overall structure of the responses of SMEs in terms of company size, the gender of the respondents and their education. The research showed statistically significant differences in SMEs’ positive attitudes toward business ethics in the Czech Republic, Poland and Hungary. No differences in the positive attitudes of SMEs were found in Slovakia. The Czech Republic most often showed differences in the overall structure of answers and the structure of positive answers. Originality. The originality and strength of this research lie in the fact that we rely on the results of our own empirical study and do not use secondary data or opinions in a mediated form. In this study, we examine the selected attitudes of owners/managers of SMEs towards business ethics. This approach allows us to gain appropriate insights directly from the responsible people who carry out their business activities in the day-to-day business environment. The results of this research can be used by policymakers for the improvement of the business environment in the SME segment. [ABSTRACT FROM AUTHOR]

Rooted in the perspective of role theory, the use of human resource indicators to improve performance is a hugely important area in the HRM field, but most of our understanding on this comes from prior research on large firms. Importantly, our study looks at under-researched area of HR indicators to examine the size of company and ownership structure on HR indicators and decision making comprehensively on small, medium-sized and large firms specifically in the context of Central European region such as Czech Republic. To address recent calls in the literature for an investigation of this nature, this research examined the role of size of company, ownership structure on HR indicators for organizational performance at micro level (employee perspective). Data were collected by using survey-based questionnaire from 896 managers working in the Czech companies at various sector level. Chi-square test and Z-score of P-value were used. The results demonstrate that size of company and ownership structure are the key drivers of HR indicators at the workplace. More importantly, our research also suggests that ownership structure positively influences decision making by using HR indicators. To date, there is fairly limited has been done on HR indicators with respect to size of company and ownership structure in the Central European region specially in Czech Companies. Importantly, this research contributes to the nascent literature that positions HR indicators as an effect mechanism at the organizational setting at different sectoral level. Our research also suggest measures of HR indicators and present implications for both research and managerial practice. [ABSTRACT FROM AUTHOR]

This paper focuses on Small and Medium-sized Enterprises (SMEs) and Design Management, especially the relationship between design management and business prosperity. The study is based on quantitative research conducted in January 2019. The main issues were transformed into research questions, which were further evaluated into several hypotheses; these were statistically tested. The results suggest that (as expected) there is a correlation between wellmanaged design management and business prosperity. The results were analyzed across company size with regard to B2B/B2C/B2G. The limitation of the research results lies mainly in a limited number of samples only from the Czech economy. The research did not examine the term "business prosperity" in depth. Sometimes prosperity is seen as increasing profits, sales, market share, or brand value. The originality of the paper lies in the uniqueness of the research and the possibility of utilization of its results for other economies similar to that of the Czech Republic. [ABSTRACT FROM AUTHOR]

The aim of the paper is to present significant factors of strategic management in the sector of small and medium-sized companies. Within the set goal, we quantify the weight of selected strategic management factors and compare trends in the Czech and Slovak Republics. An empirical research was carried out in 2020. In the Czech Republic, we obtained data from 454 micro, small and medium-sized enterprises and in Slovakia from 368 enterprises belonging to the segment of small and medium-sized enterprises. We used chi-square and Z-score to process the data. The basic conclusion of the research is that even though SMEs perceive the importance of strategic management in the enterprise very strongly, strategic management is not adequately implemented in the everyday life of the enterprise. Entrepreneurs in both countries are not too convinced that quality strategic management enhances the competitive ability of the enterprise. About half of the companies are involved in regular strategic management. There are statistically significant differences according to the size and age of the enterprise, or according to the education of entrepreneurs. Larger companies and more educated entrepreneurs better understand the importance of strategic aspects and the need for their application in corporate governance. [ABSTRACT FROM AUTHOR]