Banks face a number of business risks on a daily basis. Today, operational risk is dominant. The aim of this paper is to develop a decision-making system when choosing a method of operational risk ...management by using the Analytical Hierarchy Process (the AHP method) and the Fuzzy Analytic Hierarchy Process (the FAHP method). Analytical hierarchical process is a simple efficient process in solving decision-making problems. The final decision depends on the assessment of a set of alternatives and the decision criteria. The main purpose of the process is to find appropriate solutions for defined user factors in the current competitive environment. The results obtained by the classical AHP method, as well as the FAHP method, show that external factors are the dominant criterion, especially during the financial crisis or the Covid19 pandemic, and that solutions should be sought in international standards, using control tools created by the banks themselves.
Many studies on entrepreneurship indicate an affirmative entrepreneurial orientation (EO) and small firm performance interrelationship. However, the empirical results are inconclusive, especially ...when firms face certain contingencies.
Strategic networking and environmental dynamism are important to SMEs’ performance; therefore, the goal of this study is to apply a configurational approach for developing a model that promotes the roles of strategic networking and environmental dynamism as moderating variables in the EO-performance relationship.
For determining which model fits the data best, a moderated linear regression analysis was used as an analytical method to test the proposed hypotheses. Specifically, configurational, contingency and universal models were examined.
Results reveal that a configurational model provides a statistically better explanation of variance in performance compared to both contingency and universal models.
By adding strategic networking to the EO-performance relationship, our study helps explain why some firms, although restrained with internal resources, can still achieve entrepreneurial projects since required resources can be acquired from external network partners. Limitations of this study encompass the sample size, the use of a subjective scale, questioning of only one representative of the firm, and the short-term aspect of the study.
Kauzalni i efektualni pristupi poduzetništvu najviše su istraživani pristupi u objašnjavanju načina iskorištavanja poduzetničkih prilika od strane poduzetnika. U istraživanjima koja se bave tematikom ...kauzalnog i efektualnog pristupa poduzetništvu uočeno je učestalo doticanje koncepta racionalnosti tih dvaju pristupa. Odnosno, mnogobrojni autori iznose stavove vezane za racionalnost odabira između navedenih dvaju pristupa poduzetništvu te racionalnu usklađenost njihovih temeljnih principa. Cilj je ovog rada kritički analizirati razne poglede koji su predloženi u literaturi o temi racionalnosti u kontekstu kauzalnog i efektualnog pristupa poduzetništvu. Iz analize proizlazi kako se većina autora koristi racionalnošću kao apsolutnim konceptom te analizira unutarnju koherentnost kauzalnog i efektualnog pristupa poduzetništvu. Međutim, nijedan autor nije definirao pojam racionalnosti kojim se koristi, a primjetno je i kako se u literaturi nedovoljno rigorozno pristupa tom konceptu te kako se neprimjereno koriste sinonimi za racionalnost. Završno, na temelju provedene analize donose se prijedlozi za buduća istraživanja.
There are two competing hypothesizes on whether firms that are part of a business group should pay higher or lower dividends. Under one hypothesis, that can have different theoretical assumptions, ...firms that are a part of a business group should pay higher dividends. In contrast, if the pecking order hypothesis holds, firms that operate within a business group should pay lower dividends. The purpose of this paper is to examine the effect of group affiliation of Croatian firms, which are listed on the Zagreb Stock Exchange, on their propensity to pay dividends. Two panel data models were used in line with recent literature and the results of the study show some evidence that the pecking order theory was followed by Croatian firms. From this result the conclusion is that Croatian firms are more likely to pay dividends if they are not part of a business group.
Internacionalizacija predstavlja širenje ekonomske aktivnosti izvan granica domicilne ekonomije, što se reflektira kvantitativnim promjenama koje dalje vode ekstenzivnijoj geografskoj organizaciji ...ekonomske aktivnosti. U ovom radu internacionalizacija se sagledava s aspekta svih međunarodnih aktivnosti poduzeća, odnosno izvoznih i uvoznih aktivnosti. Posebno zanimljivi aspekt internacionalizacije predstavlja internacionalizacija malih i srednjih poduzeća koja je još uvijek u u literaturi nedovoljno istražena. Analiza internacionalizacije u ovom radu temelji se na pristupu poslovne strategije, odnosno internim i eksternim faktorima poslovanja. Uspješnost poslovanja poduzeća sagledava se s aspekta multidimenzionalnog pristupa, odnosno sagledavanjem različitih dimenzija uspješnosti poslovanja: financijske, poslovne i organizacijske uspješnosti. Rezultati analize empirijskog istraživanja provođenjem višestruke linearne regresijske analize potvrdili su kako internacionalizacija ima pozitivan utjecaj na uspješnost poslovanja malih i srednjih poduzeća. Integriranjem različitih vrsta veza i strukturalnih elemenata internacionalizacije te njihovim kvantitativnim ispitivanjem na sektoru malog gospodarstva, ostvaren je značajan empirijski doprinos.
PurposeThis study responds to calls by researchers to examine the relation between innovation and entrepreneurial ecosystems more closely, and also to further broaden our understanding of regional ...intellectual capital formation.Design/methodology/approachA cross-sectional analysis was conducted on NUTS 2 regions of the selected EU countries. In the empirical part of the research, multiple linear regression approaches were carried out using secondary data.FindingsIn sampled regions, the entrepreneurial ecosystem positively affects levels of high growth firms and levels of regional innovation capital.Practical implicationsResults lend further support to policymakers to develop and implement a regional-specific policy for fostering entrepreneurial ecosystems. However, given the multiple output nature of entrepreneurial ecosystems, this issue becomes more complicated than ever before.Originality/valueThis study builds upon previous research and complements it by widening the range of effects that the entrepreneurial ecosystem has. In doing so, this study is the first to examine the concurrent effects of these ecosystems on levels of high growth firms and innovation capital while using a regional innovation capital outlook.
Dugoročno očuvanje konkurentske pozicije više nije moguće bez aktivne politike upravljanja troškovima. U radu se ukazuje na značaj upravljanja troškovima kao funkcije menadžmenta u proizvodnim ...poduzećima te se analiziraju obilježja sustava upravljanja troškovima u malim i srednjim proizvodnim poduzećima Republike Hrvatske. Rezultati navedene analize pokazuju da većina malih i srednjih poduzeća ne provodi strateško upravljanje troškovima, već koristi tradicionalni model upravljanja troškovima.
PurposeTo support the advancement of an underrepresented category of research in the field of entrepreneurial teams, this study proposes and tests a novel empirical model that connects two team ...emergent states, namely team entrepreneurial passion (TEP) and transactive memory systems (TMSs), and their influence on team performance.Design/methodology/approachThe data were gathered using an online questionnaire distributed to undergraduate students who had formed entrepreneurial teams as part of a course assignment. Two methods were executed on the obtained data, namely partial least-square structural equation modelling (PLS-SEM) and necessary condition analysis (NCA).FindingsThe results uphold the hypothesised mediation role of TMSs between TEP and team performance. Of the two direct relations in the model, only the necessary conditions were present for the effect of TEP on TMSs.Research limitations/implicationsThe issue of the small sample size, a common feature in entrepreneurial team research, as discussed in the methodical section of the paper, is sidestepped with the use of PLS-SEM tools. Nonetheless, a larger sample size could have increased confidence in the results' validity. In addition, a longitudinal approach to data collection and analysis could have been used to augment that confidence further.Practical implicationsThree practical implications stem from the empirical findings. First, it lends support for implementing teaching approaches and task designs that are envisaged to improve team functioning in university classrooms. Making a business plan boosts students' desire to exploit the received knowledge and find a venture, so the teaching effort in entrepreneurship courses can have real-world consequences.Originality/valueBy testing the mediation model, new insights are made into the associations between team emerging states and, subsequently, team performance. In addition, this study responds to recent calls in the literature to incorporate NCA in an entrepreneurial setting.
Despite the massive volume of published articles, the pool of knowledge on entrepreneurial teams needs to be algorithmically classified and meticulously scrutinised. It is crucial for the field to be ...historically positioned under relevant themes, internally connected in terms of conceptual foundations, and systematically categorised in consonance with previously utilised frameworks of analysis. These concerns are resolved in this study by conducting a bibliometric analysis of 672 relevant articles. This form of analysis has not been previously employed on the topic of entrepreneurial teams. First, this study identifies eight main thematic clusters in the entrepreneurial teams field and their sub-themes. The eight main thematic clusters are: (i)
Intellectual Capital
, (ii)
Cognition and Behaviour
, (iii)
Science and Technology
, (iv)
Finance
, (v)
Transformation
, (vi)
Internationalisation
, (vii)
Family
, and (viii)
Community and Surroundings
. Second, the study reveals the clusters most needing restoration, relations between clusters, and input-mediator-output variables by their respective cluster. In addition, an implied scholarly depiction of entrepreneurial teams is articulated, which can serve as a basis for developing an
entrepreneurial teams theory
. Finally, promising avenues for future research are suggested for the entire field and every cluster specifically.
Social enterprises are often described as an entity of alternative economy. They arise in the economic systems when solutions based on market principle cannot ensure well-being for all their ...residents. It is not easy for social entrepreneurs to solve problems because of influence of internal and external environment. To solve social problem, except their will and empathy, they also need to have diverse sources of financing, close cooperation with local community and public sector. Social entrepreneurs need sources of financing nut just for the first aim (solving social problems and creating social value), but also for their growth (measured with number of employees). This study aims to answer the question related to external environment (sources of financing) and impact of sources of financing on the social enterprises' growth in Republic of Croatia.
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