Controlling – An Empirical Study and Proposal of a Relevant Model for Sustainable Business and Development in Slovakia

Sedliačiková, Mariana; Moresová, Mária; Malá, Denisa; Rowland, Zuzana

doi:10.3846/jbem.2021.15393

Cited by 3 publications

(1 citation statement)

References 37 publications

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“…General agreement with consulting companies is negatively related to product innovations. This result is in line with the research of Benčiková et al [47], which proved that t inclusion in a global corporate environment will increase cultural intelligence as well as internal processes like controlling [48,49] investigated enterprises. Manufacturers introduce new processes because of knowledge transfers from consultants and vendors.…”

Section: Itsalessupporting

confidence: 90%

Participation of Bulgarian Furniture Manufacturing in Global and Local Value Chains as a Factor Supporting Their Innovation Activities

Georgieva,

Neykov,

Barčić

et al. 2023

Sustainability

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Innovations can offer key advantages to companies, but in some EU regions, the design and development of innovation measures are still relatively novel concepts. The aim of this study was to analyze the collaborations of innovative Bulgarian furniture manufacturers with external stakeholders and the used information channels as factors for the development and implementation of innovation and participation in global value chains over their innovation activities. Out of 3890 Bulgarian companies, the number of companies included in the target group was further reduced to 85 firms due to missing information on some variables. The data for the present study were collected using a large-scale questionnaire distributed on the spot during the months of March and April 2022. Logistic regression was used to reveal the real contribution of the collaborations and the information sources to the ability of companies to innovate. The research results indicated that in Bulgaria, the furniture sector is not considered very innovative, and Bulgarian furniture manufacturing companies do not rely on collaboration with the IT and mechatronics sectors. These companies do not want to participate in GVCs, as they refer to them in relation to supply chains. Therefore, they are less dependent on chain shocks. Companies prefer to hide their innovations for further protection, which might be the reason for the lack of cooperation between the furniture manufacturing companies and academia, NGOs, and other relevant institutions. The findings of the study contribute to new insights into the literature on the participation in GVCs as a factor for collaboration with different stakeholders and hence for product and process innovation development within the furniture industry companies.

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Section: Itsalessupporting

confidence: 90%

Participation of Bulgarian Furniture Manufacturing in Global and Local Value Chains as a Factor Supporting Their Innovation Activities

Georgieva,

Neykov,

Barčić

et al. 2023

Sustainability

View full text Add to dashboard Cite

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Has the COVID-19 pandemic affected the corporate financial performance? A case study of Slovak enterprises

Valaskova,

Gajdosikova,

Lazaroiu

2023

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Research background: The corporate debt situation can be considered a crucial factor influencing the future development of the financial performance of the firm. It is essential for every business entity to know its financial health, its strengths and weaknesses, and how its business has been affected by the COVID-19 pandemic and all the changes it has brought. Purpose of the article: The main aim of this paper is to explain and quantify the consequences of the COVID-19 pandemic, analyze changes in the growth of crucial determinants, and identify new trends in Slovak enterprises throughout the monitored period of 2018‒2021. Methods: Hence, a statistically significant difference between the individual indicators due to the period in which the firms achieved these values was determined using the Friedman test. It determined whether the average values of the financial indicators remained constant over the period under review (the years 2018 and 2019 are considered pre- COVID-19 years, while 2020 and 2021 are years when the globe was already being impacted by the outbreak of the COVID-19 pandemic) or whether the individual values of the indicators differed significantly. Findings & value added: Considering that there are statistically significant differences in the indicators of self-financing ratio, current indebtedness ratio, and equity leverage ratio in all monitored periods except for the years 2020 and 2021, where the average values of these debt indicators are the same, the results indicate that the COVID-19 pandemic also negatively impacted the indebtedness of Slovak enterprises. Although this research paper, focusing on the financial performance of the firms in the post-pandemic period, is pioneering in Slovakia, the biggest contribution of the study is the application of the latest information, which could help in more precise monitoring of corporate financial stability and debt policy during the current challenging period. The obtained results provide important universal guidelines for building financial strategies improving long-term financial resilience of enterprises.

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Controlling tools in family and non-family businesses: A case study of woodworking and furniture industry

Sedliačiková,

Poláková,

Musa

et al. 2024

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Research background: Many studies point to the fact that the use of controlling in family businesses differs from that in non-family businesses and depends on factors that cannot be observed in non-family businesses. The research into the application of controlling tools in family and non-family businesses operating in the woodworking and furniture industry in Slovakia as a unique interconnection of the issues of family businesses, controlling and the Slovak woodworking and furniture industry has not been so far carried out. Purpose of the article: The aim of the paper is to identify significant differences in the application of tools of individual controlling subsystems between family and non-family businesses operating in the woodworking and furniture industry in Slovakia on the basis of a comprehensive mapping of the utilization of controlling tools in the businesses in question. Methods: The mapping of the issue was carried out by questionnaire-based method. In total, seven hypotheses were formulated. The validity of the assumed hypotheses was verified by two sample z-test. To generalize the obtained results to the entire basic set, verification of the minimum sample size was carried out. The representativeness of the sample was verified by the Pearson's Chi-square test of goodness-of-fit. Findings & value added: Based on the findings, it can be concluded that there are indeed significant differences in the use of controlling tools between family and non-family businesses operating in the industries in question. The results have showed the existence of significant differences in the use of tools of all examined controlling subsystems. It can be concluded that the application of controlling tools in the family businesses is significantly different from that in the non-family businesses. It can also be observed that family businesses of the industries in question tend to use controlling in an insufficient way and in general to a lesser extent compared to non-family businesses. The main benefit of the paper is the identification of the use of controlling tools in Slovak family businesses operating in the woodworking and furniture industry compared to non-family businesses. This knowledge can be valuable for practitioners and researchers in the field. The contribution also refers to the future direction of the development of the Slovak woodworking and furniture family businesses.

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Controlling – An Empirical Study and Proposal of a Relevant Model for Sustainable Business and Development in Slovakia

Cited by 3 publications

References 37 publications

Participation of Bulgarian Furniture Manufacturing in Global and Local Value Chains as a Factor Supporting Their Innovation Activities

Participation of Bulgarian Furniture Manufacturing in Global and Local Value Chains as a Factor Supporting Their Innovation Activities

Has the COVID-19 pandemic affected the corporate financial performance? A case study of Slovak enterprises

Controlling tools in family and non-family businesses: A case study of woodworking and furniture industry

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