Risk Management in the Sustainable Developmennt: Analysis of a Selected Key Industry

Abrhám, Josef; Lžičař, Petr

doi:10.9770/jssi.2018.8.2(5)

Cited by 15 publications

(10 citation statements)

References 19 publications

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“…The agreement is negotiated by the Commission and concluded by the Council, acting by a qualified majority after the European Parliament has given its consent. The founding treaties shall cease to apply to the leaving State from the date of entry into force of the withdrawal agreement, or, if no agreement is reached, two years after the Member State's notification to withdraw from the EU (Abrham, Lzicar, 2018). The members of the European Council or EU Council representing the leaving State shall not participate in negotiations or decisions of those authorities.…”

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confidence: 99%

British-Slovak Foreign Trade Relations: Consequences of Brexit

Kordoš

2019

MMI

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The possibility of the UK's withdrawal from the European Union has never been more realistic and up-to-date since joining the European Communities (EC) as it is today. The UK is facing a unique situation. At present, this depends solely on the capabilities of European and British government officials, who negotiate the terms of withdrawal and future cooperation between the two entities. The main goal of this paper is based on the British – Slovak trade relations development analysis to figure out their impact within the Brexit consequences on the future Slovak economy and its current status in international economic relations. The paper also provides a basic overview of Brexit process and its possible impact on the EU's further functioning. Basic data will be drawn from generally accepted institutions, evaluating the UK and Slovak trade and economic performance. To accomplish this goal, methods such as analysis and comparison to illustrate the UK-Slovak foreign trade development, synthesis and logical deduction to discuss the Brexit impact on Slovak economic environment in the future are to be used; data from scientific and professional publications, periodical and non-periodical press. The paper presents the results of an empirical analysis, which showed that because of the size of economic relations between Slovakia and the United Kingdom and the number of goods and services being exported to the UK, the «hard» Brexit will be very unfavourable for Slovak foreign trade due to the possible tariffs being imposed. The research empirically confirms and theoretically proves that it can cause a significant weakening and slowdown in the Slovak economy. Either way, the upcoming Brexit process, that is the withdrawal of Great Britain from the European Union, would have a major impact not only on British, European but also on the world economy. The impact of Brexit on Slovakia's economy will not only be in reducing the possible growth of the economy, but also in employment and price increases. Keywords: EU single market, Britain's withdrawal from the EU, foreign trade policy instruments analysis, international economics, Slovak economy slowdown prediction, Slovak foreign trade commodity structure analysis.

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confidence: 99%

British-Slovak Foreign Trade Relations: Consequences of Brexit

Kordoš

2019

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“…In addition, at a large and growing number of companies, the risk management function is directed by a senior executive with the title of chief risk officer (CRO) and overseen by a board of directors charged with monitoring risk measures and setting limits for these measures. Abrhám and Lžičař (2018) argue that a corporation can manage risks in one of two fundamentally different ways: one risk at a time, on a largely compartmentalized and decentralized basis; or all risks viewed together within a coordinated and strategic framework. Jenicek (2016) states that companies that succeed in creating an effective corporate risk management have a long-run competitive advantage over those that manage and monitor risks individually By reducing risk, a company can reduce the amount of expensive equity capital needed to support its operating risks.…”

Section: Literature Reviewmentioning

confidence: 99%

Selected aspects of risk management in Polish and Slovak SMEs

Havierniková¹,

Okręglicka²,

Kordoš³

2020

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The principles of risk management come to the forefront of managers of both large and small enterprises. The trend in risk management consists of a comprehensive approach to risk management that penetrates within all key processes in the enterprise. Although the small and medium sized enterprises (SMEs) become to the important pillars of each economy, the risk management in these entities is elaborated only partially. This is affected mainly by attitudes of SMEs' owners or managers to risks, the lack of knowledge and practical experience in applying risk management. This paper contributes to the wide spreading of knowledge in the area of risk management in SMEs. The main aim of the paper is to compare the selected aspects of risk management between Polish and Slovak SMEs. The compared aspects are: authority to risk management in SMEs, ways of risk identification and risk assessment as well as risk limiting. The research is based on the results of questionnaire survey realized among 150 of Polish and 123 of Slovak SMEs. For the evaluation, the Chi-square test was used.

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“…On theoretical side, interpersonal trust means trust in other peoplepeople outside of the family and without personal tiesand forms social capital of the country (Fukuyama, 1995, Putnam, 1993. Interpersonal trust is particularly important in modern risky societies full of social interactions characterized by high uncertainty (Abrhám & Lžičař, 2018, Rojek, 2019. Ability to trust in other people is associated with economic performance as favors economic exchanges and resources allocation, expands possibilities of cooperation.…”

Section: Interpersonal Trust As Relevant Determinant Of Economic Outcmentioning

confidence: 99%

Social trust and institutional (bank) trust: Empirical evidence of interaction

Buriak¹,

Vozńáková²,

Sułkowska³

et al. 2019

Economics &Amp; Sociology

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This paper analyzes the interaction between interpersonal trust (as informal rules and behavior) and trust in banks (as formal rules and institutions) as well as institutional sources of trust. Structural equation modeling and cluster analysis were applied to data from the World Values Survey extracted from the Wave 6 (2010-2014). The results of cross-sectional estimations show complementary view on interaction-a positive link between interpersonal trust and trust in banks. Using cluster method, strong impact of institutional environment (GDP per capita, Education Index, Inequality Index, Rule of Law Index) on the level of interaction has been found. The lowest level of linkages between interpersonal trust and trust in banks is associated with the worst institutional environment, the highest level of impact-with the best institutional environment.

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Risk Management in the Sustainable Developmennt: Analysis of a Selected Key Industry

Cited by 15 publications

References 19 publications

British-Slovak Foreign Trade Relations: Consequences of Brexit

British-Slovak Foreign Trade Relations: Consequences of Brexit

Selected aspects of risk management in Polish and Slovak SMEs

Social trust and institutional (bank) trust: Empirical evidence of interaction

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