Export and its Financing in The SME Segment. Case Study From Slovakia

Ključnikov, Aleksandr; Popesko, Boris

doi:10.7441/joc.2017.01.02

Cited by 25 publications

(17 citation statements)

References 14 publications

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“…In order to avoid tax obligations, taxpayers, without violating the law, take advantage of existing or non-existing legislation in a particular field of activity or region / country or lack thereof (Tvaronavičienė & Razminienė, 2017;Poór et al, 2018). Usually, lawful tax evasion is the privilege of large companies that have income and specialists (lawyers, accountants, tax advisers) that carry out so-called tax optimization (Ključnikov & Popesko, 2017;Darabos, 2016). To avoid paying tax liabilities, taxpayers (citizens and/or organizations) take advantage of certain tax benefits (lower taxes) that a state offers, for example:…”

Section: Literature Reviewmentioning

confidence: 99%

The interdependence between fiscal public policies and tax evasion

Androniceanu¹,

Gherghina²,

Ciobănaşu³

2019

AMP

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The importance of studying tax evasion derives from its effects. The state budget of public revenues, which could be used to finance public health services, education, public order and safety, etc., is being damaged by evasion. At the same time, tax evasion also has negative effects in the market economy, generating unfair competition. The study of tax evasion is of major relevance in determining the degree of economic, social and even cultural development of a country. The analysis of tax evasion aims at identifying the causes that lead to tax evasion, as well as identifying new solutions for higher voluntary compliance. The work is focused on the analysis of the causes and effects that will indicate the possible solutions to be applied in order to reduce the phenomenon of evasion tax. The results of the research show the impact of fiscal policies on the economy and the ways in which the reduction of tax evasion generates a considerable increase of the macroeconomic indicators that characterize the economy of a country.

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Section: Literature Reviewmentioning

confidence: 99%

The interdependence between fiscal public policies and tax evasion

Androniceanu¹,

Gherghina²,

Ciobănaşu³

2019

AMP

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“…Today, managers are increasingly faced with the responsibility of taking important decisions to ensure prosperity, financial stability and competitiveness under uncertainty and risk conditions (Agarwal & Ansell 2016;Ključnikov & Popesko, 2017;Gumanti et al, 2017;Kliestikova et al, 2017;Ribau et al, 2017;Jankelová et al, 2018;Kliestik et al, 2018;Valaskova et al, 2018). Therefore, more and more businesses, not just large but also small ones, are beginning to realize the need and importance of risk management (Lazányi et al, 2017;Wegner et al 2017).…”

Section: Introductionmentioning

confidence: 99%

The Dependence of Perceived Business Risks on the Size of SMEs

Hudáková¹,

Masár²,

Lusková³

et al. 2018

JOC

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The issues of risk management in small and medium-sized enterprises (SMEs) have been analysed and discussed for a long time. Nevertheless, it is still necessary to concentrate on this field, especially in the Slovak Republic. SMEs are very sensitive to changes in the business environment which are always reflected in the quantitative characteristics of this sector in a certain time interval. According to various global surveys and studies, risk management represents a significant contribution to the increasing competitiveness of enterprises in changes of the business environment. The aim of this paper is to statistically assess the dependence of perceived key business risks of SMEs on their size in Slovakia based on own empirical research carried out in 2017. The contribution also includes an assessment of key risk sources and an evaluation of the survey results compared to the results of surveys taken last year. Based on the results, market, financial, economic and personnel risks comprise the four most important risks that negatively affect the business environment of SMEs. Dependence perceived by the SME entrepreneurs was found among market factors, personnel risks, and business size. No dependence was found among the financial, economic and business risks. The overall results of the empirical research point to the need and importance of addressing the assessment of key risks and their resources in SMEs in Slovakia. The goal of the paper is to highlight through a relevant study the need to apply risk management in the SMEs and to bring the results of the research in Slovakia closer to world trends.

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“…It is well documented in the prior literature that SMEs are facing problems in accessing bank loans due to information asymmetry. The reduction of information asymmetry can increase access to finance for SMEs, reduce loan interest rate, lower collateral requirements and overall facilitates the availability of finance [2] [6] [20] [27] [28]. However, the influence of information asymmetry on reducing financial constraints can be affected by the nature of bank market structure, for example, competition and concentration in the market.…”

Section: Introductionmentioning

confidence: 99%

The Effect of Bank Competition on the Cost of Credit: Empirical Evidence from the Visegrad Countries

2019

APH

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The effects of bank competition on the cost of credit are a much-debated topic in Small and Medium enterprises financing. In this paper, we would like to examine the relationship between the cost of credit and interbank-competition in the context of Visegrad countries-the Czech Republic, Poland, Hungary, and the Slovak Republic. The dataset of this paper comes from two different sources, the firm level data provided by the latest version of the Business Environment and Enterprise Performance Survey that was conducted by the European Bank for Reconstruction and Development and the World Bank during 2012 to 2014, and the country level bank competition measures are collected from the Global Financial Database, updated in 2017 [3]. We have examined bank competition with four measures, including structural bank concentration measure and three nonstructural (Lerner Index, H-Statistics, and Boone Index) measures. We find evidence that bank competition has a positive effect on the cost of credit and hence, our results are in-line with prior literature on information-based theories of bank competition. We have also assessed the firms in terms of their information opacity (micro, small, and medium), and we find that the cost of credit is higher for the information opaque firms. Thus, firm sizes have important implications for bank competition and cost of credit.

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Export and its Financing in The SME Segment. Case Study From Slovakia

Cited by 25 publications

References 14 publications

The interdependence between fiscal public policies and tax evasion

The interdependence between fiscal public policies and tax evasion

The Dependence of Perceived Business Risks on the Size of SMEs

The Effect of Bank Competition on the Cost of Credit: Empirical Evidence from the Visegrad Countries

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