From Research: The greatest impact on the sustainability of small and medium-sized enterprises is financial management

Sustainability belongs to the currently most discussed and researched topics in the business environment, with emphasis on explainability aspects of artificial intelligence. A research team, represented by prof. L. SMRČKA on behalf of our university, published a study in the Oeconomia Copernicana journal, focusing on the sustainability factors of small- and medium-sized enterprises in V4 countries. 

Authors conducted an empirical analysis based on data collected from Czech, Slovak, Polish, and Hungarian firms. The areas of Human Resource Management (HRM), Corporate Social Responsibility (CSR), and financial management were defined as significant factors influencing sustainability. 

The greatest impact was found in the financial management area. Knowledge of the firm’s financial management, entrepreneurs’ optimism regarding financial risk management, and a positive assessment of the firm’s current financial performance are all very important factors that influence a firm’s sustainable growth. The CSR and HRM areas also significantly impact sustainability. Find all results of the authors at: https://journals.economic-research.pl/oc/article/view/2937/2236.