Opinions of owners and managers on the business risks of SMEs sustainability: does gender matter?
Abstract
The aim of the article is the quantification of the effect size of business risks in the context of small and medium-sized enterprises’ (SMEs) sustainability according to gender. Data collection was carried out in the period 12/2022–01/2023 using the CAWI methodology. 1,090 owners and managers from the business environment of the SME segment participated in the research in the Visegrad group countries. Structural equation modelling (SEM) was implemented on the evaluation of the hypotheses of research. The statistical software IBM SPSS Statistics and AMOS vs. 28 were used in the data analytics. The management of business risks, just like market, financial and personnel risks, has a strong positive impact on the sustainable development of SMEs. Personnel risk management is the most important determinant which has a strong positive impact on the sustainable development of SMEs with male entrepreneurs. Financial risk management has a medium positive effect on the sustainable development of SMEs for female entrepreneurs. The research findings illustrate the important role for key individuals in national development and for strategic documents dealing with how to help the SME segment.
Keyword : business risk, case study, gender, effect, SMEs, sustainable development, Visegrad group countries
How to Cite
Dvorsky, J., Olah, J., Bednarz, J., & Hudakova, M. (2023). Opinions of owners and managers on the business risks of SMEs sustainability: does gender matter?. Journal of Business Economics and Management, 24(4), 732–753. https://doi.org/10.3846/jbem.2023.20232
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Faccio, M., Marchica, M., & Mura, R. (2016). CEO gender, corporate risk-taking, and the efficiency of capital allocation. Journal of Corporate Finance, 39, 193–209. https://doi.org/10.1016/j.jcorpfin.2016.02.008
Filippin, A., & Crosetto, P. (2016). A reconsideration of gender differences in risk attitudes. Management Science, 62(11), 3138–3160. https://doi.org/10.1287/mnsc.2015.2294
Fraser, J. R. S., & Simkins, B. J. (2016). The challenges of and solutions for implementing enterprise risk management. Business Horizons, 59(6), 689–698. https://doi.org/10.1016/j.bushor.2016.06.007
Gede Riana, I., Suparna, G., Gusti Made, I., Kot, S., & Rajiani, I. (2020). Human resource management in promoting innovation and organizational performance. Problems and Perspectives in Management, 18(1), 107–118. https://doi.org/10.21511/ppm.18(1).2020.10
Gorondutse, A. H., Arshad, D., & Alshuaibi, A. S. (2021). Driving sustainability in SMEs’ performance: The effect of strategic flexibility. Journal of Strategy and Management, 14(1), 64–81. https://doi.org/10.1108/JSMA-03-2020-0064
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