Innovation, Financial Culture, and the Social-Economic Environment of SMEs in Hungary Cover Image
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Innovation, Financial Culture, and the Social-Economic Environment of SMEs in Hungary
Innovation, Financial Culture, and the Social-Economic Environment of SMEs in Hungary

Author(s): Ágnes Gyõri, Ágnes Czakó, Gergely Horzsa
Subject(s): National Economy, Business Economy / Management, Political economy, Post-Communist Transformation, Socio-Economic Research
Published by: SAGE Publications Ltd
Keywords: SMEs; innovation; financial culture; financial literacy; corporate financial resources; social-economic environment;

Summary/Abstract: Despite the numerous pieces of research that have been undertaken to aid understanding of the innovative activities of small- and medium-sized enterprises (SMEs), only a few have dealt with the interaction between innovation activity and the finance-related attitudes, literacy, and knowledge (competencies) of these companies. The current research focuses on specific aspects of the innovation activities of SMEs in a postcommunist society (Hungary) by taking into consideration elements of both entrepreneurial financial culture and the social-economic environment. Our analysis is based on a national representative survey, 2017. Results show that the presence of a creative financial culture, and the grounding of management decisions correlate with company innovation. We found that subsidies as external financial sources contribute to a larger extent to the innovation activities of SMEs than other external and internal financial resources. Moreover, the study explores the effects of some economic and social competition-related factors.

  • Issue Year: 33/2019
  • Issue No: 04
  • Page Range: 976-1004
  • Page Count: 29
  • Language: English