Search

A tanulmany a mikro-, kis- es kozepvallalati szektor vallalatainak kompetenciateljesitmenye alapjan ertelmezett versenykepesseg es penzugyi teljesitmeny kozotti kapcsolatot vizsgalja. Az osszefugges megteremtesen tulmenően azt is elemzi – ellentetben a teljesitmenyt alakito mechanizmusok elemzesevel foglalkozo mas tanulmanyokkal –, hogy a mikro-, kis- es kozepvallalatok hogyan hasznaljak fel megtermelt profitjaikat. Az elmeleti megalapozast, modellalkotast es hipotezisalkotast kovetően az empirikus kutatasi eredmenyek bemutatasara kerul sor. Az 1005 magyar mikro-, kis- es kozepvallalat vizsgalata regresszioelemzessel tortent. Az eredmenyek azt mutatjak, hogy 1. mind a jovőbe, mind a multba iranyulo penzaramlasok meghatarozok a versenykepesseg kialakitasaban. Ezen belul 2. elsősorban az innovacionak es az osztalekfizetesi kepessegnek van szignifikans hatasa, mikozben 3. az alloeszkoz-beruhazas hatasa ellentmondasos. A tanulmany ujdonsagat a mikro-, kis- es kozepvallalatok versenykepessege es penzugyi teljesitmenye kozotti kapcsolat modellezese es empirikus elemzese adja. Ezek a tudomanyos főaram szakirodalmai alapjan hianypotlonak tekinthetők. Journal of Economic Literature (JEL) kod: G39, L26.

Purpose Competitiveness is a multidimensional construct, related to a number of external and internal company factors. This paper aims to provide empirical evidence on the relationship between the application of small- and medium-sized enterprises’ (SMEs) compensation incentives as an index/element of human system development and competitiveness. Design/methodology/approach A unique primary data set drawn from the Global Competitiveness Project on SMEs’ competitiveness was analysed, using cross-sectional data of 784 firms. First, descriptive statistics were used to show the data set peculiarities. Second, a forward logistic regression was applied to show the effects on the application of compensation incentives. A 25.1% of explanatory power was found by targeting the application of compensation systems by 7 firm-level principal factors and 30 control variables. Findings The findings suggest that there is a higher chance of the application of compensation incentives in cases when the employees possess a more substantial tacit knowledge and formal and informal relationship networks. It is also positively impacted by the higher level of intra-company manifestation of knowledge. Research limitations/implications The research was conducted among SMEs from eight countries, based on a unique questionnaire designed for small enterprises. The respective countries are from Europe and Latin America, which serve as a reference category for Hungary. Also, there is a high level of 0 answers for the involved variables. The binary logistic regression methodology is suitable for filtering out some of these; nevertheless, the proportion of uncertain factors remains high as it is indicated by the explanatory power. Originality/value The majority of the literature is dealing with large companies in the topic of competitiveness, whereas in this data set, a deeper analysis was carried out among SMEs from eight countries, comparing their results to the Hungarian ones. The findings can be used as reference points for future studies, and the understanding of the HR cycle within SMEs.

PurposeThe purpose of this paper is to interconnect the firm level competitive performance (competitiveness) to the financial performance of the firms. The goal is to give evidence on how successful small- and medium-sized enterprises (SMEs) use their financial performance to support their competitive performance.Design/methodology/approachCompetitiveness is interpreted and measured through the resource-based view theory on a wide range of competitiveness measurements with a sample size of 639 SMEs. Financial data originate from official, publicly accessible governmental archives. All data are from a mid-size Central European country (Hungary). To interconnect competitiveness and financial performance, this paper recognizes two types of cash flow, namely, cash flow to the “past” (dividend and debt service) and cash flow to the “future” (CAPEX and innovation). This paper used ordinary least squares regression and binomial logistic regression to analyze connections.FindingsCash flows to the “future” have much stronger effects on competitiveness than cash flows to the “past.” Debt services do not affect competitiveness, whereas dividends, CAPEX and innovation efforts have a significant positive connection to competitiveness, showing that higher cash flow indicates higher competitive performance. If this paper knows how much the firm spends on innovation and dividends, in about the four-fifths of the cases, this paper can predict the level of the competitiveness of the firm without any additional information. The level of these variables gives enough information, the variability of them is not relevant.Research limitations/implicationsThe explanatory power of future-oriented cash flow elements is much higher than that of the past-oriented ones, while innovation dominates all models. Firms with higher competitiveness build their returns in their cost structure, and only when the financial position of the firm is stable enough, withdraw the financial resource based on a long-term plan. The results are limited by the fact that using the current sample, detailed and representative (e.g. cross-industrial, spatial, etc.) decomposition is not possible.Originality/valueLiterature is focusing on how SMEs reach success, how SMEs “earn money.” There is no evidence on how SMEs “spend money,” earned during their success.

Tanulmanyunkban vallalati paneladatokon vizsgaljuk, hogy a tarsasagi adokulcs 2016–2017 kozotti csokkentesevel parhuzamosan milyen valtozas kovetkezett be a vallalatok tenyleges adofizetesi kotelezettsegeben. Arra a kerdesre keressuk a valaszt, hogy milyen elteres mutatkozik a vallalatok effektiv es nevleges adokulcsa kozott, van-e kulonbseg az effektiv adokulcs tekinteteben a kulonboző iparagak kozott, illetve hogy mely szektorok szembesulnek a legalacsonyabb, illetve legmagasabb tenyleges adoterhelessel. Mindket evre leiro statisztikai eszkozokkel es OLS-regresszio segitsegevel – OPTEN-adatok alapjan – 295 812 vallalat effektiv adoratajanak valtozasait vizsgaltuk meg. Az adoalapot modosito tetelek es a gazdasagi kornyezet valtozasanak hatasat a rendelkezesre allo adatok alapjan nem lehetett kiszűrni. Eredmenyeink szerint a nevleges adokulcs 1 szazalekpontos csokkentese mellett az effektiv tarsasagi adofizetesi rata 0,11 szazalekponttal csokkent. Az effektiv tarsasagi adoterheles csokkenese nem egyforma mertekben erintette az egyes agazatokat, bizonyos tevekenysegi korok eseteben jelentősen nőtt a vallalkozasok effektiv adoterhelese, mig mas agazatok egyertelműen kedvezőbb helyzetbe kerultek 2017-ben.* Journal of Economic Literature (JEL) kod: H25, H71, K34.

Purpose The purpose of this study is to identify the corporate functions that contribute most to the innovation success of SMEs with limited resources. After a systematic literature review, the authors used a unique primary data set of 784 SMEs from eight countries. Descriptive statistics and binary logistic regression were used to show the data set peculiarities. The logistic regression targeted the presence of innovative products and services in sales by 11 dummy variables and 4 principal factors describing SMEs’ different resources and capabilities. Design/methodology/approach The authors developed a resource-based product innovation model that is synthesising the impact of the company resources and capabilities and of the innovation activity of the company on the actual innovation performance. The authors carry out an empirical analysis of the characteristic features of innovation activity in an international sample of SMEs. Findings The results show that two corporate functions play a crucial role in the effectiveness of innovation for SMEs as follows: management and research and development (R&D). In addition, although of lesser importance, the effect of the marketing function also appears significant. The binary logistic regression had 84.2% of explanatory power. Originality/value From a scientific point of view, the SME-focussed, complex and synthesising RBV model of innovation construction and literature review can be used as a reference point for future researches. From a practical point of view, the analysis is useful for those SMEs, which want to gain a competitive advantage through innovation. Indeed, the results show that in the case of SMEs, a company wishing to innovate must invest in three corporate functions for innovation to be effective as follows: management, R&D and marketing.

A szerző ebben a tanulmanyban a vallalati belső tenyezőkkel foglalkozo strategiaelmeletek klasszikus es modern iranyzatainak bemutatasat tűzte ki celul. Az elmeletek lathatoan nemcsak a megkezdett gondolatok tovabbepitesevel, hanem egymas vitatasaval is igyekeznek teret nyerni, ezert relevans kiserletet tenni a legfontosabb kovetkeztetesek egyseges keretbe foglalasara. Az agazatok tobbsegere hiperverseny jellemző, es ez markans kihivas ele allitja a versenyelőnyok tartossagat. Meg az olyan időtallonak tartott előnyok, mint a kedvező versenypiaci poziciobol, sajatos piaci strukturakbol fakado (pl. monopolizalt piacokon elert) erőfoleny gyakorlati jelentősege is csokkenő. Mindemellett az is ismeretes, hogy az erőforrasokban leginkabb bővelkedő, legjobban informalt vallalatokban is hoznak rossz vagy szuboptimalisnak tekinthető donteseket, kialakulnak belső korlatok, teljesitmenyt meghatarozo szűk keresztmetszetek. Ezekre a kihivasokra a modern strategiaimenedzsment-elmeletek, igy a dinamikus kepessegalapu elmeletek, a felfedezesorientalt strategia iranyzata, valamint a viselkedesi strategia teoriai egyarant igyekeznek valaszokat adni. Az tapasztalhato, hogy az atmeneti előnyok egymast permanensen kovető sorozatara torekvő vallalat szamara az erőforrasok es kepessegek mintazata es a penrose-i ertelemben vett sokfelesege valik lenyegesse, a Barney-fele VRIO-kriteriumokkal szemben. Az erőforras- es kepessegkonfiguracio megfelelő hasznositasaval osszefuggesben mas belső tenyezők, igy a dontes es vegrehajtas osszhangjat biztosito szervezeti struktura, valamint a felső vezető(k) szemelyehez kothető tenyezők jelentősege is egyre nagyobb.

PurposeThe analysis of the interconnectedness between resources and capabilities, and the way businesses use them as competitive weapons is a central element of the strategic management literature. Finding the appropriate configuration of competitive pillars is particularly relevant for resource-constrained small businesses. Drawing on the resource-based view and the configuration theory, this study evaluates the effect of both competitiveness and the configuration of the competitiveness system on performance.Design/methodology/approachAn index methodology based on the configuration theory was used to compute the competitiveness index on a unique sample of 625 Hungarian small- and medium-sized firms. The study hypotheses were tested via regression analysis.FindingsResults show that the impact of competitiveness-enhancing strategies is conditional on the configuration of the system of competencies. Low-competitive businesses benefit more from investments in the weakest competitive pillar, while strategies oriented to improve more than one competitive pillar yield higher competitiveness improvements among high-competitive businesses. Our findings also indicate that competitiveness positively impacts performance, and that the exploitation of competitive strengths leads to superior results among high-competitive businesses.Originality/valueBy employing an index methodology, our analysis contributes to unveil how competitiveness impact business performance. The proposed analysis has value for scholars and strategy makers by showing how the configuration of the business' competitive system—in terms of competitive strengths and weaknesses—conditions the generally positive impact of competitiveness enhancing actions linked to the acquisition or development of resources and capabilities.