European Journal of Service Management

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Service Management


ISSN: 2450-8535     eISSN: 2451-2729    OAI    DOI: 10.18276/ejsm.2018.27/2-43
CC BY-SA   Open Access 

Issue archive / Vol. 27/2, 3/2018
Determinants for improving the financial situation of small and medium-sized companies – in the opinion of entrepreneurs

Authors: Małgorzata Porada-Rochoń
University of Szczecin, Faculty of Management and Economics of Services

Justyna Franc-Dąbrowska
Warsaw University of Life Sciences – SGGW, Faculty of Economic Sciences
Keywords: small and medium-sized companies financial crisis financial condition financial distress
Whole issue publication date:2018-12-31
Page range:8 (355-362)
Klasyfikacja JEL: G30 G34
Cited-by (Crossref) ?:

Abstract

The dynamics of changes taking place in the environment as well as its variability and complexity create new research perspective. On the one hand, such character of the environment favours the development of companies, and on the other, it creates difficult conditions for conducting business activities and determines a number of threats. Nevertheless, business managers are always on the look for solutions and opportunities that would allow them to achieve higher efficiency of operations. The aim of the research was to identify determinants among which the management of small and medium-sized companies sees the possibilities of improving financial situation. The following research hypothesis was verified: along with the progressing process of globalization of the economy, the determinants of improvement of financial situation of the distorted and undistorted companies are diversified. The research was carried out using the cross-section microdata presented in questionnaires. The survey database contains 100 observations. Respondents were asked about what creates an opportunity to improve the financial condition of companies after the crisis of 2008. The conducted research allows the conclusion that, regardless of financial condition of small and medium-sized companies, the basic prerequisites for their functioning and improvement of the financial situation are economic development and legislation. These two determinants of improvement of financial situation prevailed in the opinions of the surveyed company managers, regardless of the method of classification of entities. Therefore, it can be concluded that the conducted research proved the regularity known from the literature to be true, and that the research hypothesis was confirmed.
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