This paper empirically investigates the key firm- and industry-specific restrictions to the performance of small and medium-sized enterprises (SMEs) in services trade. For this purpose, we use firm-level data from firms in France operating in different services sectors over the time period 1998 to 2007 and formulate two-part models consisting of (i) (dy namic) export equations and (ii) (dynamic) export share equations. Our results confirm the view that a relatively low share of SMEs engage in services trade. In line with the new-new trade theory, our results also corroborate that more productive SMEs have a higher export probability. The key finding of this paper is that the export decisions of SMEs in services sectors are estimated to be extremely persistent, implying that trade pol icy efforts, including the allocation of scarce trade promotion budgets, should be directed at addressing the barriers faced in establishing the first export operation. Finally, our sub-sectoral estimates reveal considerable heterogeneity across different types of services.

Furniture production in Sweden still exists on a comparably small scale. The majority, or more than 99 percent, of all furniture producers in Sweden are small and medium sized enterprises (SMEs) with less than 250 employees. Despite their size, these firms are, to a large extent, involved in export. This is fully in line with the accelerating trend of internationalization found among firms of all sizes. However, research focused on internationalization has been primarily concentrated on larger firms, which is unfortunate considering that the vast majority of all firms within the European Union can be described as SMEs. The purpose of this research is, therefore, to extend our understanding of internationalization and performance among small and medium sized firms by explaining export involvement and performance among small and medium sized furniture producers in Sweden. This research is completed within the theoretical framework of the modified PSE model, which consists of four components: perception of export barriers, strategy competence, export involvement, and performance. A quantitative survey was conducted among 324 firms, yielding a response rate of 56 percent. The empirical data was analyzed using the methods of multiple linear regression, logistic regression, and ordinal regression. The result suggests that strategy competence, measured in terms of relatedness and market knowledge, explains the main export mode and performance among exporting SMEs. In addition, main export mode seems to explain performance. The main findings of this research are visualized through a new model, SCEMPER. Another finding is that barriers originating with the owner/key decision-maker of a firm seem to prevent firms from becoming involved in export. In addition, attitude towards export and the age of the firm appear to be important determinants of export involvement and performance among SMEs.

The thesis deals with the issue of support for small and medium-sized businesses in the Czech Republic focusing on one of the market-based forms of such support in terms of networking. Specifically, the work is aimed at reference networking, and describes it in detail using an example of its representative in the Czech market. Within its theoretical part, the work defines the concept of small and medium-sized business. Further it explains the concept of promoting entrepreneurship in terms of public and market support. In the framework of this distinction, examples of some of the forms of such support have been listed. On the example of Switzerland, local representative forms of public support of entrepreneurship have been presented and compared to those in the Czech Republic. Further, networking concept has been introduced, and some principles of its operation have been defined. Different kinds of networking have been described. In the practical part, functioning of reference networking in particular, has been described more in detail on the example of the company Business for Breakfast Česká republika s.r.o. Using a questionnaire survey among the members of this concept, its benefits for both the members of the concept, as well as for the state budget have been investigated. The analysed benefits are examined in terms of both budget revenues, as well as in terms of cost savings. Fields of business, for which reference networking seems to be most beneficial, have been mentioned. In the end, benefits of representative public forms of business support with reference marketing have been compared. The study has confirmed that reference networking is an effective form of market-based support for small and medium-sized businesses, and has a positive impact on both the state budget, as well as on creating a favourable business environment in the Czech Republic. Despite public forms of business, these benefits are demonstrable and measurable.

The Master´s thesis deals with the social responsibility of organization with focus on small and medium-sized enterprises. The aim of this thesis is to analyze the level and attitude of corporate social responsibility in these enterprises. The theoretical part is to introduce concept of tripple-bottom-line, history, current trends and advantages and disadvantages of CSR. This part of thesis also includes implementation and measurement of CSR activities with subsequent reporting and information support. The practical part deals with the research of the social responsibility in small and medium-sized enterprises in Czech Republic. In the conclusion of the practical part are summarized recommendations and proposals for SME.

This thesis examines asset pricing and capital structure of small- and medium-sized enterprises (SMEs) in three essays. Firm finance and asset pricing are areas of voluminous research in the literature. Most of this research observes firms trading on public stock exchanges. In my thesis, I examine privately-owned SMEs where relatively little research has been done. I use a proprietary database of over 16,000 SMEs that sold from 1990 to 2010, reporting market valuations and accounting information. My findings contribute to the literature on asset pricing and capital structure of private firms that benefits researchers, entrepreneurs, investors, and analysts. The first essay examines whether the size effect in returns found in traded stocks is present in SMEs. The size-effect literature generally observes listed firms and finds that smaller firms tend to have higher returns. Using the SME database, I document the size effect in private firms using market valuations. I also find the size premium is concentrated in smaller SMEs. In firms smaller than $2.5 million in market value, the size effect is nearly 13 times stronger compared to larger firms. The second essay explores the effects of investor sentiment and marketwide liquidity in SME returns. Prior studies find these factors have effects in returns of listed firms. I find that SME returns are negatively related to sentiment and liquidity. As sentiment or liquidity rise, SME returns tend to fall. This study also finds that the effects of sentiment and liquidity are concentrated in smaller firms and weaken or disappear in larger SMEs. Apparently investors in smaller SMEs are more influenced by sentiment and liquidity. I also find that sentiment and liquidity have conditional effects on the magnitude of the size premium. The third and final essay examines SME capital structure. Firm capital structure has been one of the most contentious issues in finance theory for over 50 years. Relatively little research examines private firm finance and no previous studies to my knowledge have examined SME capital structure using market-based leverage ratios. I examine relations between leverage and capital structure determinants suggested by theory using market-based and book-value leverage ratios. I find support for both the trade-off and pecking-order theories. This study also finds that SMEs tend to use short-term debt much more than long-term debt and firms appear to practice maturity matching where managers tend to match borrowing terms with asset life. Evidence also suggests that capital structure determinants suggested by theory have greater explanatory power for market-based leverage ratios than for ratios based on book values.

This master thesis aims to explore the conditions of small and medium-sized enterprises in expanding to foreign markets and to find opportunities that will help these businesses to grow. By opportunity it is meant the company's own effort, or state and non-state support of SME's. In the thesis there is analyzed the situation of SME's in the Czech market and the services and support that businesses can use while expanding abroad, it also analyses the modern methods in this area. The aim of the thesis is to analyze trends in the field of internationalization of SMEs, to identify the key needs of Czech companies and to compare them with the actual support offered in the Czech market. Based on a comparison with foreign practice, namely New Zealand, it should propose new ways and opportunities in the process of expansion.

Klein- und mittelständische Unternehmen (KMU) sehen immer mehr den Herausforderungen und Chancen einer nachhaltigen Produktentwicklung entgegen, da die Entwicklung und Herstellung von Produkten zwangsläufig mit Umweltaspekten verbunden sind. Eine gute Anwendung von Methoden und Werkzeugen bestimmt so mitunter über Erfolg und Misserfolg eines Produktes als auch dessen Nachhaltigkeit und ist damit zentrales Element bei der Entwicklungsarbeit. Somit bestimmt eine dauerhafte Integration von Werkzeugen eine langfristige Wettbewerbsfähigkeit von Unternehmen. Da die geringeren Kapazitäten und Rahmenbedingungen von KMUs jedoch eine Barriere bei der Integration von Methoden und Werkzeugen darstellt, wird ein Ansatz beleuchtet, der mit Zuhilfenahme von Filtern bei der passenden Auswahl von Methoden und Werkzeugen Unterstützung bietet. Es werden Hemmschwellen und Erfolgsfaktoren bei der Anwendung von Methoden und Werkzeugen beleuchtet und ein möglicher Prozess skizziert, um die Integration zu fördern, die Mitarbeiter des Unternehmens zu schulen und langfristig die Anwendung von Methoden und Werkzeugen zur nachhaltigen Produktentwicklung in KMUs zu implementieren.

The intention of this thesis is a strategy suggestion and a work out of a plan for small distributional company to enable it to keep its trade position, its competitiveness and that it would show sustainable development.

Improved use of resources is of enormously high relevance and crucial for achieving as well as maintaining a sustainable condition. Especially industrial production has a superior responsibility in creating a long-term viable way of living. However, there is a lack of systematic evaluation procedures for operational resources in production systems, meaning product material, energy, equipment and humans. Especially small and medium-sized enterprises, representing the largest number of all companies in Europe, are mostly not able to deal with these kinds of issues in addition to their daily business. The purpose of this licentiate thesis is the investigation for and development of an evaluation approach for resource efficiency and effectiveness in small and medium-sized enterprises. Two literature reviews and one industrial case study have been carried out. To start with, the first  literature  review  founds a theoretical  basis  for  the meaning of resource efficiency and effectiveness. The second literature review investigates latest measures and approaches for production system evaluation. In the next step an evaluation approach for resource efficiency and effectiveness evaluation in small and medium-sized enterprises is developed and tested within a single case study. The result consists of a comprehensive approach for small and medium-sized enterprises with focus on economic short-term and long-term improvements. / <p>QC 20140416</p>

The Covid19-pandemic may have impacted the environmental strategies of firms as it has had a major impact on the world economy and businesses. In particular Small and Medium Sized Enterprises (SMEs) as during prolonged economic downturns they suffer disproportionately which could be due to lack of key resources which bigger firms naturally have more of, such as access to bank loans, technological, managerial, and human resources. Nevertheless, the Covid19-pandemic does not make the current environmental crises any less important therefore it is imperative to explore how firms’ environmental strategies have adapted during this time. The purpose of this study was to examine what happens to environmental strategies when firms experience harsher financial conditions. This have led us to construct the following research question:“How do SMEs adjust their environmental strategies during crises?”In this paper we answer the research question by analyzing the effect Covid19 has had on the environmental strategies of Swedish SMEs’ environmental strategies during Covid19. In order to achieve the purpose of this study we performed a qualitative study with an exploratory approach by interviewing seven different Swedish SMEs within the construction industry. The key findings this our study produced was that the firms’ environmental strategies remained resilient as no firm decreased their focus on environmental strategy nor did they view this aspect less important. Rather some firms intensified their environmental strategies suggesting that this might be a viable strategy to survive a crisis.