The SMEs perception of financial risks in the context of cluster cooperation
Although, the Small and Medium-sized enterprises are the most numerous members in clusters, many of their representatives do not know benefits from this type of cooperation and they perceive it as a risky in general. Whereby, the clusters present one form of sustainable development of SMEs business....
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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AIMS Press
2019-09-01
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| Series: | Quantitative Finance and Economics |
| Subjects: | |
| Online Access: | https://www.aimspress.com/article/10.3934/QFE.2019.3.586/fulltext.html |
| _version_ | 1818499252126482432 |
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| author | Katarína Havierniková Marcel Kordoš |
| author_facet | Katarína Havierniková Marcel Kordoš |
| author_sort | Katarína Havierniková |
| collection | DOAJ |
| description | Although, the Small and Medium-sized enterprises are the most numerous members in clusters, many of their representatives do not know benefits from this type of cooperation and they perceive it as a risky in general. Whereby, the clusters present one form of sustainable development of SMEs business. The focus of this paper is to provide an analytical framework in which the SMEs' perception of selected risk indicators is investigated by characterizing the financial risks related to cluster cooperation. While risk indicators are presented through five main categories of financial risks. To gain the main aim of this paper following research methods were used:Chi square test to compare statistical significant differences between the stated groups of respondents, Z-score to investigate the statistically significant differences in individual responses, Pareto analysis to determine the most important risk indicators and Key risk matrix to assess the level of risk indicators. The results have showed, that most important risk indicators are from category of business risks and they related with main issues of cluster cooperation:human factor failure, legal risk and risk related to lose of own reputation. These results highlighted the importance of financial risks that may be necessary for SMEs, other stakeholders and policy makers to overcome the barriers in development of cluster cooperation. The added value of this paper is the comparison of SMEs' perception of risk indicators from several points of view and final evaluation is connected and compared with the perception of those SMEs that have or had experience with cluster cooperation. |
| first_indexed | 2024-12-10T20:26:53Z |
| format | Article |
| id | doaj.art-6106603935aa49fa8ac9ef4e944fcf7f |
| institution | Directory Open Access Journal |
| issn | 2573-0134 |
| language | English |
| last_indexed | 2024-12-10T20:26:53Z |
| publishDate | 2019-09-01 |
| publisher | AIMS Press |
| record_format | Article |
| series | Quantitative Finance and Economics |
| spelling | doaj.art-6106603935aa49fa8ac9ef4e944fcf7f2022-12-22T01:34:50ZengAIMS PressQuantitative Finance and Economics2573-01342019-09-013358660710.3934/QFE.2019.3.586The SMEs perception of financial risks in the context of cluster cooperationKatarína Havierniková0Marcel Kordoš11 Department of Economy and Economics, Faculty of Social and Economic Relations, Alexander Dubček University of Trenčín, Študentská 3,91150 Trenčín, Slovakia2 Department of Public Administration and Regional Economy, Faculty of Social and Economic Relations, Alexander Dubček University of Trenčín, Študentská 3,91150 Trenčín, SlovakiaAlthough, the Small and Medium-sized enterprises are the most numerous members in clusters, many of their representatives do not know benefits from this type of cooperation and they perceive it as a risky in general. Whereby, the clusters present one form of sustainable development of SMEs business. The focus of this paper is to provide an analytical framework in which the SMEs' perception of selected risk indicators is investigated by characterizing the financial risks related to cluster cooperation. While risk indicators are presented through five main categories of financial risks. To gain the main aim of this paper following research methods were used:Chi square test to compare statistical significant differences between the stated groups of respondents, Z-score to investigate the statistically significant differences in individual responses, Pareto analysis to determine the most important risk indicators and Key risk matrix to assess the level of risk indicators. The results have showed, that most important risk indicators are from category of business risks and they related with main issues of cluster cooperation:human factor failure, legal risk and risk related to lose of own reputation. These results highlighted the importance of financial risks that may be necessary for SMEs, other stakeholders and policy makers to overcome the barriers in development of cluster cooperation. The added value of this paper is the comparison of SMEs' perception of risk indicators from several points of view and final evaluation is connected and compared with the perception of those SMEs that have or had experience with cluster cooperation.https://www.aimspress.com/article/10.3934/QFE.2019.3.586/fulltext.htmlsmall and medium enterprisesclustercluster cooperationfinancial risksrisk indicator |
| spellingShingle | Katarína Havierniková Marcel Kordoš The SMEs perception of financial risks in the context of cluster cooperation Quantitative Finance and Economics small and medium enterprises cluster cluster cooperation financial risks risk indicator |
| title | The SMEs perception of financial risks in the context of cluster cooperation |
| title_full | The SMEs perception of financial risks in the context of cluster cooperation |
| title_fullStr | The SMEs perception of financial risks in the context of cluster cooperation |
| title_full_unstemmed | The SMEs perception of financial risks in the context of cluster cooperation |
| title_short | The SMEs perception of financial risks in the context of cluster cooperation |
| title_sort | smes perception of financial risks in the context of cluster cooperation |
| topic | small and medium enterprises cluster cluster cooperation financial risks risk indicator |
| url | https://www.aimspress.com/article/10.3934/QFE.2019.3.586/fulltext.html |
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