The Perception of Market and Economic Risks by Owners and Managers of Enterprises in the V4 Countries
Maria Hudakova, Marie Gabrysova, Zora Petrakova, Katarina Buganova, Vladimir Krajcik
Keywords:
market risk, economic risk, risk management, V4 countries, enterprises
Abstract:
The aim of the paper is to assess the impact of the length of entrepreneurship on the perception
of the most important business risks in Slovakia and the Visegrad Group of Countries (V4
countries). The empirical research was conducted in 2019-2020. It was focused on assessing the
state of enterprise risk management (ERM) application. The research file contained 422 online
questionnaires completed by owners and managers of enterprises (OMEs). The results of this
case study were compared with the results of similar studies performed in the V4 countries in
2017-2018. In total, 1,781 OMEs participated in the surveys mentioned. The following statistical
methods were used to assess the data: ANOVA, Bartlett’s test, Agostini test, good fit test,
and Grubbs test. The overall results of the empirical research highlight the significance and
importance of the assessment of business risks in the V4 countries. The results in Slovakia in
2019-2020 and the research results in the V4 countries in 2017-2018 show that OMEs still consider
market and economic risks to be most important in their business. Market and economic risks
are related to sources that exert the most negative influence on enterprise success. The results
are valuable for entrepreneurs, enterprise managers and institutions that provide comprehensive
entrepreneurship support in the V4 countries. The overall results are significant at the regional,
national, and international levels of the V4 countries and have the ability to strengthen the
competitiveness of entrepreneurs within the EU common market.
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 The Perception of Market and Economic Risks by Owners and Managers of Enterprises in the V4 Countries [PDF file] [Filesize: 1.22 MB]
 10.7441/joc.2021.04.04
Hudakova, M., Gabrysova, M., Petrakova, Z., Buganova, K., & Krajcik, V. (2021). The Perception of
Market and Economic Risks by Owners and Managers of Enterprises in the V4 Countries. Journal of
Competitiveness, 13(4), 60–77. https://doi.org/10.7441/joc.2021.04.04
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