Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-1-87
Dominika Bosek-Rak
Institutional investors have contributed to the development of capital markets in transition economies, including Poland’s. Since they leverage detailed fundamental analysis and actively seek the highest possible returns on investments, their decisions are expected to be accurate and are observed carefully, often treated as signals for other investors to follow. As a result, the market valuations of target companies are expected to increase. The objective of this paper is to determine whether the presence of institutional investors in the ownership structure coexists with a higher market valuation of a listed company. The estimation of a panel model with fixed effects (681 companies listed on the Warsaw Stock Exchange, WSE, between 2014 and 2018) indicates that a higher share of institutional investors in the ownership structure coexists with a higher Price to Book Value (PB).
{"title":"Institutional investors and company market value – the case of Poland","authors":"Dominika Bosek-Rak","doi":"10.5771/0949-6181-2022-1-87","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-1-87","url":null,"abstract":"Institutional investors have contributed to the development of capital markets in transition economies, including Poland’s. Since they leverage detailed fundamental analysis and actively seek the highest possible returns on investments, their decisions are expected to be accurate and are observed carefully, often treated as signals for other investors to follow. As a result, the market valuations of target companies are expected to increase. The objective of this paper is to determine whether the presence of institutional investors in the ownership structure coexists with a higher market valuation of a listed company. The estimation of a panel model with fixed effects (681 companies listed on the Warsaw Stock Exchange, WSE, between 2014 and 2018) indicates that a higher share of institutional investors in the ownership structure coexists with a higher Price to Book Value (PB).","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79038623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-3-462
Roberto Biloslavo, D. Edgar, Roland Rusjan
Applying a business model approach, this paper explores how SMEs perceive, understand and deal with the range of strategic dualities that they face and how this may impact their business model innovation. Qualitative research was conducted using a sample of eight SMEs with the results analysed using content analysis. The findings suggest that SMEs address strategic dualities along four dimensions: degree of globalization (local vs. global), type of offering (individual experience vs. mass product), time orientation (short-term survival vs. long-term orientation), and modernity orientation (tradition vs. modern). It appears to be that SMEs do not recognize these dualities directly but are continuously trying to cope with the tensions they create, and that the whole process is biased by a strong link of SMEs to the local environment (i.e. terroir) that prevents radical innovation of business models. These findings are significant as they cast new insights into the strategic duality faced by SMEs and start to untangle the complex relationships between elements of the business model and SMEs’ local environments.
{"title":"Strategic Dualities and Business Model Innovation within SMEs","authors":"Roberto Biloslavo, D. Edgar, Roland Rusjan","doi":"10.5771/0949-6181-2022-3-462","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-3-462","url":null,"abstract":"Applying a business model approach, this paper explores how SMEs perceive, understand and deal with the range of strategic dualities that they face and how this may impact their business model innovation. Qualitative research was conducted using a sample of eight SMEs with the results analysed using content analysis. The findings suggest that SMEs address strategic dualities along four dimensions: degree of globalization (local vs. global), type of offering (individual experience vs. mass product), time orientation (short-term survival vs. long-term orientation), and modernity orientation (tradition vs. modern). It appears to be that SMEs do not recognize these dualities directly but are continuously trying to cope with the tensions they create, and that the whole process is biased by a strong link of SMEs to the local environment (i.e. terroir) that prevents radical innovation of business models. These findings are significant as they cast new insights into the strategic duality faced by SMEs and start to untangle the complex relationships between elements of the business model and SMEs’ local environments.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72791313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-1-157
F. Almeida, V. Devedzic
This study explores the relevance of different soft skills for entrepreneurs, focusing on entrepreneurs from Portugal and Serbia. The study identifies a total of 38 soft skills from the European Entrepreneurship Skills Framework (EntreComp) and employs a quantitative methodology in the analysis of data collected from a questionnaire completed by entrepreneurs from these two countries. The findings reveal that soft skills competencies play a key role in the entrepreneur's activity, highlighting emotional intelligence, resilience, and persistence as fundamental attributes that an entrepreneur should possess. Furthermore, the respondents' answers have revealed notable differences in their perception of the importance of a majority of soft skills (27 out of 38 skills), which indicates that an entrepreneur's geographic area is a relevant factor in the perception of the relative importance of soft skills.
{"title":"The Relevance of Soft Skills for Entrepreneurs","authors":"F. Almeida, V. Devedzic","doi":"10.5771/0949-6181-2022-1-157","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-1-157","url":null,"abstract":"This study explores the relevance of different soft skills for entrepreneurs, focusing on entrepreneurs from Portugal and Serbia. The study identifies a total of 38 soft skills from the European Entrepreneurship Skills Framework (EntreComp) and employs a quantitative methodology in the analysis of data collected from a questionnaire completed by entrepreneurs from these two countries. The findings reveal that soft skills competencies play a key role in the entrepreneur's activity, highlighting emotional intelligence, resilience, and persistence as fundamental attributes that an entrepreneur should possess. Furthermore, the respondents' answers have revealed notable differences in their perception of the importance of a majority of soft skills (27 out of 38 skills), which indicates that an entrepreneur's geographic area is a relevant factor in the perception of the relative importance of soft skills.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80703359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-2-259
Viktorija Ilieva, Aleksandra Janeska-Iliev, Stojan Debarliev, L. Nakov, Ljubomir Drakulevski, Thomas Brudermann
Entrepreneurial decision-making is often characterized by unrealistic optimism. This so-called “overconfidence bias” has consequently received an increasing amount attention from the authors of literature on entrepreneurship research. Most empirical studies, however, that target the overconfidence bias have been conducted with students or samples from the general population. This study contributes to the entrepreneurial decision-making literature by explicitly targeting entrepreneurs from Austria and North Macedonia (n = 187), defined as individuals who have started their own businesses or are in the process of doing so. The entrepreneurs were asked to complete a general-knowledge questionnaire and to estimate the accuracy of their answers. The results suggest that the most of these entrepreneurs exhibit overconfidence (and some, underconfidence) with regard to the accuracy of their knowledge. Significant differences were observed between the bias scores and confidence scores of the Austrian and Macedonian respondents, but not the accuracy scores. The so-called “hard-easy effect,” which indicates that individuals display overconfidence when answering hard questions, but underconfidence when answering easy questions, was observed among the Austrian but not among the Macedonian entrepreneurs.
{"title":"Knowledge overconfidence among entrepreneurs from Austria and North Macedonia","authors":"Viktorija Ilieva, Aleksandra Janeska-Iliev, Stojan Debarliev, L. Nakov, Ljubomir Drakulevski, Thomas Brudermann","doi":"10.5771/0949-6181-2022-2-259","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-2-259","url":null,"abstract":"Entrepreneurial decision-making is often characterized by unrealistic optimism. This so-called “overconfidence bias” has consequently received an increasing amount attention from the authors of literature on entrepreneurship research. Most empirical studies, however, that target the overconfidence bias have been conducted with students or samples from the general population. This study contributes to the entrepreneurial decision-making literature by explicitly targeting entrepreneurs from Austria and North Macedonia (n = 187), defined as individuals who have started their own businesses or are in the process of doing so. The entrepreneurs were asked to complete a general-knowledge questionnaire and to estimate the accuracy of their answers. The results suggest that the most of these entrepreneurs exhibit overconfidence (and some, underconfidence) with regard to the accuracy of their knowledge. Significant differences were observed between the bias scores and confidence scores of the Austrian and Macedonian respondents, but not the accuracy scores. The so-called “hard-easy effect,” which indicates that individuals display overconfidence when answering hard questions, but underconfidence when answering easy questions, was observed among the Austrian but not among the Macedonian entrepreneurs.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89980293","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-4-583
Esra Çınar, H. N. Basim
Drawing on theory of reasoned action and identity theory, we examined the mediating effect of workplace friendship on the association between relational job crafting and the intention to stay. The hypotheses were tested by analysing the data collected from 228 participants. We found positive and significant relationships between the intention to stay and relational job crafting, as well as with workplace friendship. Furthermore, a positive and significant relationship between relational job crafting and workplace friendship was found. The results also indicate that workplace friendship has a partial mediating effect on the relationship between relational job crafting and the intention to stay.
{"title":"Who desires to stay? The role of relational job crafting on the intention to stay with the mediating role of workplace friendship","authors":"Esra Çınar, H. N. Basim","doi":"10.5771/0949-6181-2022-4-583","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-4-583","url":null,"abstract":"Drawing on theory of reasoned action and identity theory, we examined the mediating effect of workplace friendship on the association between relational job crafting and the intention to stay. The hypotheses were tested by analysing the data collected from 228 participants. We found positive and significant relationships between the intention to stay and relational job crafting, as well as with workplace friendship. Furthermore, a positive and significant relationship between relational job crafting and workplace friendship was found. The results also indicate that workplace friendship has a partial mediating effect on the relationship between relational job crafting and the intention to stay.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82971131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-1-31
Loredana Mihalca, C. Mengelkamp, Gabriela Brendea, D. Metz
The purpose of this study is to investigate which job and organisational attributes incoming first-year students prefer in a job, and whether their preferences differ from those of newly-hired employees. Factor analysis of the job attributes reveal four underlying factors: job itself, firm attributes, compensation and rewards, and supportive work environment. Results show that students’ perceptions differ from those of employees only with regard to the importance of firm’s attributes. This study also examines whether preferences for job attributes differ when students’ growth need strength, academic achievement, and gender are taken into account. Results indicate that students with high growth needs place greater importance on job attributes centred on job itself, but lower importance on job attributes concerning supportive work environment. Furthermore, female students rate job attributes pertaining to supportive work environment significantly higher than male students.
{"title":"Job Attribute Preferences of Incoming University Students and Newly-Hired Employees in the Context of the Romanian Labour Market","authors":"Loredana Mihalca, C. Mengelkamp, Gabriela Brendea, D. Metz","doi":"10.5771/0949-6181-2022-1-31","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-1-31","url":null,"abstract":"The purpose of this study is to investigate which job and organisational attributes incoming first-year students prefer in a job, and whether their preferences differ from those of newly-hired employees. Factor analysis of the job attributes reveal four underlying factors: job itself, firm attributes, compensation and rewards, and supportive work environment. Results show that students’ perceptions differ from those of employees only with regard to the importance of firm’s attributes. This study also examines whether preferences for job attributes differ when students’ growth need strength, academic achievement, and gender are taken into account. Results indicate that students with high growth needs place greater importance on job attributes centred on job itself, but lower importance on job attributes concerning supportive work environment. Furthermore, female students rate job attributes pertaining to supportive work environment significantly higher than male students.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72545289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-1-106
V. Baláž, T. Jeck
The paper analyses the financial indicators of 546 Slovak firms that received support from the European Structural and Cohesion Funds (ESCF) in the period of 2013-2015. Two support schemes were analysed: one for innovations (technology transfer) and another for R&D grants. The research combines data from public and private resources. It applies the difference-in-differences (DiD) evaluation method along with the propensity score matching (PSM) technique. The research tests the hypotheses that (i) assistance from the ESCF improved the economic and innovation performance of the supported firms, and (ii) smaller firms transformed public support into innovation outputs more efficiently than did large enterprises. Both hypotheses are confirmed. The finding comes with some reservations concerning the efficiency of the support, grant-seeking behaviour, and the reliability of output indicators.
{"title":"Public Support to Research and Innovation: Do European Resources Boost Innovation Outputs?","authors":"V. Baláž, T. Jeck","doi":"10.5771/0949-6181-2022-1-106","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-1-106","url":null,"abstract":"The paper analyses the financial indicators of 546 Slovak firms that received support from the European Structural and Cohesion Funds (ESCF) in the period of 2013-2015. Two support schemes were analysed: one for innovations (technology transfer) and another for R&D grants. The research combines data from public and private resources. It applies the difference-in-differences (DiD) evaluation method along with the propensity score matching (PSM) technique. The research tests the hypotheses that (i) assistance from the ESCF improved the economic and innovation performance of the supported firms, and (ii) smaller firms transformed public support into innovation outputs more efficiently than did large enterprises. Both hypotheses are confirmed. The finding comes with some reservations concerning the efficiency of the support, grant-seeking behaviour, and the reliability of output indicators.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81949345","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-2-311
M. Turkmenoglu, Berat Çiçek, Duygu Acar Erdur
Although there is a growing body of literature on the consequences of work alienation, its antecedents have not received the same attention. Therefore, there is a need to examine elements affecting work alienation, the examination of which has been a preoccupation amongst both organisations and scholars. Drawing on the Social Exchange Theory and Self-Determination Theory, we aim to investigate the relationship between leader-member exchange, work alienation, and the mediation role of self-regulation on this relationship. We also consider whether tenure moderates the relationship between leader-member exchange and work alienation. To achieve the aim of the study, the quantitative research method is adopted by collecting data from 310 public and private sector employees and middle managers in Turkey. The partial least squares approach is employed to test the conceptual model, and multi-group analysis is used to examine whether the relationship differs with sector. The results reveal that leader-member exchange negatively affects work alienation, and self-regulation mediates this relationship. Tenure has a moderating effect on the relationship between leader-member exchange and self-regulation. Multi-group analysis results demonstrate a higher impact of leader-member exchange on self-regulation in the public sector than in the private sector. Implications, limitations, and future studies are drawn from the results.
{"title":"Addressing Leader-Member Exchange and Self-Regulation as Remedies for Work Alienation: Insights from Private and Public Sectors in Turkey","authors":"M. Turkmenoglu, Berat Çiçek, Duygu Acar Erdur","doi":"10.5771/0949-6181-2022-2-311","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-2-311","url":null,"abstract":"Although there is a growing body of literature on the consequences of work alienation, its antecedents have not received the same attention. Therefore, there is a need to examine elements affecting work alienation, the examination of which has been a preoccupation amongst both organisations and scholars. Drawing on the Social Exchange Theory and Self-Determination Theory, we aim to investigate the relationship between leader-member exchange, work alienation, and the mediation role of self-regulation on this relationship. We also consider whether tenure moderates the relationship between leader-member exchange and work alienation. To achieve the aim of the study, the quantitative research method is adopted by collecting data from 310 public and private sector employees and middle managers in Turkey. The partial least squares approach is employed to test the conceptual model, and multi-group analysis is used to examine whether the relationship differs with sector. The results reveal that leader-member exchange negatively affects work alienation, and self-regulation mediates this relationship. Tenure has a moderating effect on the relationship between leader-member exchange and self-regulation. Multi-group analysis results demonstrate a higher impact of leader-member exchange on self-regulation in the public sector than in the private sector. Implications, limitations, and future studies are drawn from the results.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90784491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-1-130
M. Rožman, P. Tominc
The main aim of this paper is to synthesize the research results based on the developed multidimensional model of activities in family companies aimed at achieving employee engagement. Furthermore, this research outlines the components that impact employee satisfaction in family businesses as drivers of employees' engagement on the job. The paper is based on primary research, including a survey of family companies in Slovenia. To test the hypotheses of the study, we used structural equation modeling (SEM). The results show that factors such as leadership, employee relations, and intergenerational synergy have a positive effect on employee satisfaction, which in turn leads to employee engagement. Our research results and recommendations can help owners/managers in family companies to contribute to a better work environment and to understand the impact of family businesses’ leadership, employee relations, and intergenerational synergy on employee satisfaction engagement.
{"title":"The importance of employees' work satisfaction in family enterprises: a case study of the post-transition economy","authors":"M. Rožman, P. Tominc","doi":"10.5771/0949-6181-2022-1-130","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-1-130","url":null,"abstract":"The main aim of this paper is to synthesize the research results based on the developed multidimensional model of activities in family companies aimed at achieving employee engagement. Furthermore, this research outlines the components that impact employee satisfaction in family businesses as drivers of employees' engagement on the job. The paper is based on primary research, including a survey of family companies in Slovenia. To test the hypotheses of the study, we used structural equation modeling (SEM). The results show that factors such as leadership, employee relations, and intergenerational synergy have a positive effect on employee satisfaction, which in turn leads to employee engagement. Our research results and recommendations can help owners/managers in family companies to contribute to a better work environment and to understand the impact of family businesses’ leadership, employee relations, and intergenerational synergy on employee satisfaction engagement.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83328842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.5771/0949-6181-2022-3-404
Zorica Aničić, Blagoje Paunović
This paper investigates SMEs’ responses to the COVID-19 crisis and the significance of specific government support measures for overcoming the crisis effects. The results show that SMEs have mostly implemented retrenchment and persevering strategies, whereas innovation and exit strategies were less used, as well as that the strategy selection depends on both the severity of the COVID-19 impact on individual business segments and SME specificities. Additionally, the analysis reveals that, from the SMEs’ perspective, not all the future government measures are equally significant for recovery. Therefore, in creating an optimum measure package to support SMEs, governments must consider multiple criteria. The SMEs’ responses, as well as the significance of specific government measures, vary depending on the characteristics of SMEs and the magnitude of COVID-19 effects on specific business aspects.
{"title":"The Covid-19 crisis and small and medium-sized enterprises (SMEs) in Serbia: responsive strategies and significance of the government measures","authors":"Zorica Aničić, Blagoje Paunović","doi":"10.5771/0949-6181-2022-3-404","DOIUrl":"https://doi.org/10.5771/0949-6181-2022-3-404","url":null,"abstract":"This paper investigates SMEs’ responses to the COVID-19 crisis and the significance of specific government support measures for overcoming the crisis effects. The results show that SMEs have mostly implemented retrenchment and persevering strategies, whereas innovation and exit strategies were less used, as well as that the strategy selection depends on both the severity of the COVID-19 impact on individual business segments and SME specificities. Additionally, the analysis reveals that, from the SMEs’ perspective, not all the future government measures are equally significant for recovery. Therefore, in creating an optimum measure package to support SMEs, governments must consider multiple criteria. The SMEs’ responses, as well as the significance of specific government measures, vary depending on the characteristics of SMEs and the magnitude of COVID-19 effects on specific business aspects.","PeriodicalId":45202,"journal":{"name":"Journal of East European Management Studies","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88406498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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