Andrássy Adél and Krymarys-Balcerzak Agnieszka and Lentner Csaba and Woldie Atsede: A kis- és középvállalkozások finanszírozása, különös tekintettel a magyar és lengyel viszonyokra. In: Pénzügyek és globalizáció, (4). pp. 165-172. (2005)
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Abstract
In the 1990s, Eastern-European countries transformed their economies into market economies. After privatisation and corporate reorganisation the main outlines of a new private ownership structure have been established by the second half of the decade. At the same time a peculiar post-socialist ownership structure has developed in the region. Dominant part of the production of the economy is carried out by multinational companies in custom free zones while SMEs representing the majority of all enterprises play a limited role in economic growth. After the transition, these SMEs were short of financing resources and inappropriate monetary and tax policy decisions did not bring supportive environment for them either. It is worrysome that FDI of multinational companies declines and they don't have strong connections to Hungarian and Polish consuming and producing sectors. In the last couple of years these multinational companies tend to invest outside of Central Europe — for instance Ukraine, Romania, China — in order to retain competitiveness and increase shareholders' returns. In their investment policy per capita employment costs play a prominent role. Our region in this respect is not so attractive for them anymore and Eastern-Eureopan markets are more and more saturated with their products. SMEs play an important role in most, of these economies due to the fact that in aggregate terms they are the largest employers, make a significant contribution to export and GDP and the majority of these enterprises are owned by domestic private persons. Up to present, banks neglected to finance SMEs due to high sectoral risks. Enterprises mainly used previously cummulated profits for financing their operation. Due to changes in business environment, banks have recently been paying increased attention to SMEs.
| Item Type: | Book Section |
|---|---|
| Other title: | Financing SMEs with special attention to Polish and Hungarian experiences |
| Journal or Publication Title: | Pénzügyek és globalizáció |
| Date: | 2005 |
| Volume: | 4 |
| ISSN: | 1588-8533 |
| Page Range: | pp. 165-172 |
| Series Name: | SZTE Gazdaságtudományi Kar közleményei |
| Language: | Hungarian |
| Related URLs: | http://acta.bibl.u-szeged.hu/37411/ |
| Uncontrolled Keywords: | Kis- és középvállalkozások, Pénzügy |
| Additional Information: | Bibliogr.: p. 171-172. ; összefoglalás angol nyelven |
| Subjects: | 05. Social sciences 05. Social sciences > 05.02. Economics and business |
| Date Deposited: | 2016. Oct. 15. 11:12 |
| Last Modified: | 2022. Feb. 10. 13:59 |
| URI: | http://acta.bibl.u-szeged.hu/id/eprint/5657 |
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