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Financing of wood-processing of family business: a survey in Slovakia

Author

Listed:
  • Mariana Sedliačiková

    (Technical University in Zvolen, Slovakia)

  • Marek Kostúr

    (Technical University in Zvolen, Slovakia)

  • Ján Dobrovič

    (International School of Management Slovakia, Slovakia)

  • Ľudmila Lipková

    (Alexander Dubček University of Trenčín, Slovakia)

  • Eva Jančíková

    (University of Economics in Bratislava, Slovakia)

Abstract

In the current global economy, family businesses play an important role as one of the main driving forces of economic growth and employment. Their unique nature and approach to financial decisions sets them apart from non-family businesses. This study identifies the critical forms of financing in the family business segment in the wood-processing industry in Slovakia. The introduction to the issue addresses the importance of the business community. It highlights that family businesses often consider not only economic factors but also emotional and cultural aspects in their financial decisions. Various factors that influence the financial decision-making processes of family businesses are examined, including their tendency to prefer their funding sources and their risk aversion. The available literature focuses on the importance of family businesses in the global context and their recent legislative support in Slovakia. It also analyses the status and challenges of the Slovak wood-processing industry and its link to the support of family businesses.

Suggested Citation

  • Mariana Sedliačiková & Marek Kostúr & Ján Dobrovič & Ľudmila Lipková & Eva Jančíková, 2024. "Financing of wood-processing of family business: a survey in Slovakia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 12(1), pages 402-410, September.
    • Handle: RePEc:ssi:jouesi:v:12:y:2024:i:1:p:402-410
    DOI: 10.9770/jesi.2024.12.1(26)
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    More about this item

    Keywords

    family business; funding sources; financing; wood-processing enterprises;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M29 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Other

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