Received:
2024-05-20 | Accepted:
2024-08-28 | Published:
2024-09-30
Title
Financing of wood-processing of family business: a survey in 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.
Keywords
family business, funding sources, financing, wood-processing enterprises
JEL classifications
D91
, L20
, M21
, M29
URI
http://jssidoi.org/jesi/article/1239
DOI
Pages
402-410
Funding
This research was supported by the projects, which have received funding from the Scientific grant agency of the Ministry of Education, Science, Research and Sport of the Slovak Republic and the Slovak Academy of Sciences Grant Agreement Number 1/0011/24 and from the Slovak Research and Development Agency Grant Agreement Numbers APVV-20-0004, APVV-21-0051, APVV-22-0238 and also by projects COST CA23117, COST CA23157, IPA ESG no. 3/2024 and IPA ESG no.4/2024.
This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
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