{"id":"https://openalex.org/W4385650478","doi":"https://doi.org/10.3390/systems11080408","title":"Management of Operational Risk in the Context of Financial Performance of SMEs","display_name":"Management of Operational Risk in the Context of Financial Performance of SMEs","publication_year":2023,"publication_date":"2023-08-08","ids":{"openalex":"https://openalex.org/W4385650478","doi":"https://doi.org/10.3390/systems11080408"},"language":"en","primary_location":{"id":"doi:10.3390/systems11080408","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems11080408","pdf_url":"https://www.mdpi.com/2079-8954/11/8/408/pdf?version=1691497483","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2079-8954/11/8/408/pdf?version=1691497483","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071144561","display_name":"M\u00e1ria Hud\u00e1kov\u00e1","orcid":"https://orcid.org/0000-0002-0756-0962"},"institutions":[{"id":"https://openalex.org/I3122011922","display_name":"University of \u017dilina","ror":"https://ror.org/031wwwj55","country_code":"SK","type":"education","lineage":["https://openalex.org/I3122011922"]}],"countries":["SK"],"is_corresponding":true,"raw_author_name":"M\u00e1ria Hud\u00e1kov\u00e1","raw_affiliation_strings":["Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia","Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia","institution_ids":["https://openalex.org/I3122011922"]},{"raw_affiliation_string":"Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia;","institution_ids":["https://openalex.org/I3122011922"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5102542957","display_name":"Peter Kardo\u0161","orcid":null},"institutions":[{"id":"https://openalex.org/I3122011922","display_name":"University of \u017dilina","ror":"https://ror.org/031wwwj55","country_code":"SK","type":"education","lineage":["https://openalex.org/I3122011922"]}],"countries":["SK"],"is_corresponding":false,"raw_author_name":"Peter Kardo\u0161","raw_affiliation_strings":["Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia","Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia","institution_ids":["https://openalex.org/I3122011922"]},{"raw_affiliation_string":"Department of Crisis Management, Faculty of Security Engineering, University of Zilina, 010 26 Zilina, Slovakia;","institution_ids":["https://openalex.org/I3122011922"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5049604272","display_name":"J\u00e1n Dvorsk\u00fd","orcid":"https://orcid.org/0000-0002-6078-2636"},"institutions":[{"id":"https://openalex.org/I3122011922","display_name":"University of \u017dilina","ror":"https://ror.org/031wwwj55","country_code":"SK","type":"education","lineage":["https://openalex.org/I3122011922"]}],"countries":["SK"],"is_corresponding":false,"raw_author_name":"J\u00e1n Dvorsk\u00fd","raw_affiliation_strings":["Department of Economics, Faculty of Operational and Economics of Transport and Communications, University of Zilina, 010 26 Zilina, Slovakia","Department of Economics, Faculty of Operational and Economics of Transport and Communications, University of Zilina, 010 26 Zilina, Slovakia;"],"raw_orcid":"https://orcid.org/0000-0002-6078-2636","affiliations":[{"raw_affiliation_string":"Department of Economics, Faculty of Operational and Economics of Transport and Communications, University of Zilina, 010 26 Zilina, Slovakia","institution_ids":["https://openalex.org/I3122011922"]},{"raw_affiliation_string":"Department of Economics, Faculty of Operational and Economics of Transport and Communications, University of Zilina, 010 26 Zilina, Slovakia;","institution_ids":["https://openalex.org/I3122011922"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5092196712","display_name":"Charles Randy Afful","orcid":"https://orcid.org/0009-0005-8787-9883"},"institutions":[{"id":"https://openalex.org/I165737746","display_name":"Tomas Bata University in Zl\u00edn","ror":"https://ror.org/04nayfw11","country_code":"CZ","type":"education","lineage":["https://openalex.org/I165737746"]}],"countries":["CZ"],"is_corresponding":false,"raw_author_name":"Charles Randy Afful","raw_affiliation_strings":["Department of Business Administration, Faculty of Management and Economics, Tomas Bata University in Zlin, 760 01 Zlin, Czech Republic","Department of Business Administration, Faculty of Management and Economics, Tomas Bata University in Zlin, 760 01 Zlin, Czech Republic;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Administration, Faculty of Management and Economics, Tomas Bata University in Zlin, 760 01 Zlin, Czech Republic","institution_ids":["https://openalex.org/I165737746"]},{"raw_affiliation_string":"Department of Business Administration, Faculty of Management and Economics, Tomas Bata University in Zlin, 760 01 Zlin, Czech Republic;","institution_ids":["https://openalex.org/I165737746"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5050894362","display_name":"Jitka Kloudov\u00e1","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Jitka Kloudova","raw_affiliation_strings":["Faculty of Business, Pan-European University, 110 00 Prague, Czech Republic","Faculty of Business, Pan-European University, 110 00 Prague, Czech Republic;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Faculty of Business, Pan-European University, 110 00 Prague, Czech Republic","institution_ids":[]},{"raw_affiliation_string":"Faculty of Business, Pan-European University, 110 00 Prague, Czech Republic;","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5071144561"],"corresponding_institution_ids":["https://openalex.org/I3122011922"],"apc_list":{"value":1600,"currency":"CHF","value_usd":1732},"apc_paid":{"value":1600,"currency":"CHF","value_usd":1732},"fwci":9.0027,"has_fulltext":true,"cited_by_count":15,"citation_normalized_percentile":{"value":0.97742932,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"11","issue":"8","first_page":"408","last_page":"408"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13288","display_name":"Banking, Crisis Management, COVID-19 Impact","score":0.9957000017166138,"subfield":{"id":"https://openalex.org/subfields/1100","display_name":"General Agricultural and Biological Sciences"},"field":{"id":"https://openalex.org/fields/11","display_name":"Agricultural and Biological Sciences"},"domain":{"id":"https://openalex.org/domains/1","display_name":"Life Sciences"}},"topics":[{"id":"https://openalex.org/T13288","display_name":"Banking, Crisis Management, COVID-19 Impact","score":0.9957000017166138,"subfield":{"id":"https://openalex.org/subfields/1100","display_name":"General Agricultural and Biological Sciences"},"field":{"id":"https://openalex.org/fields/11","display_name":"Agricultural and Biological Sciences"},"domain":{"id":"https://openalex.org/domains/1","display_name":"Life Sciences"}},{"id":"https://openalex.org/T12922","display_name":"Business and Economic Development","score":0.993399977684021,"subfield":{"id":"https://openalex.org/subfields/2308","display_name":"Management, Monitoring, Policy and Law"},"field":{"id":"https://openalex.org/fields/23","display_name":"Environmental Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T13278","display_name":"Economic and Business Development Strategies","score":0.9890000224113464,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.7567796111106873},{"id":"https://openalex.org/keywords/profitability-index","display_name":"Profitability index","score":0.593042254447937},{"id":"https://openalex.org/keywords/risk-management","display_name":"Risk management","score":0.5866296887397766},{"id":"https://openalex.org/keywords/context","display_name":"Context (archaeology)","score":0.5614235401153564},{"id":"https://openalex.org/keywords/operational-risk","display_name":"Operational risk","score":0.5487615466117859},{"id":"https://openalex.org/keywords/enterprise-risk-management","display_name":"Enterprise risk management","score":0.5440472960472107},{"id":"https://openalex.org/keywords/business-risks","display_name":"Business risks","score":0.5015988349914551},{"id":"https://openalex.org/keywords/sample","display_name":"Sample (material)","score":0.4350321888923645},{"id":"https://openalex.org/keywords/operational-risk-management","display_name":"Operational risk management","score":0.4277316927909851},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.4013853073120117},{"id":"https://openalex.org/keywords/marketing","display_name":"Marketing","score":0.3588011860847473},{"id":"https://openalex.org/keywords/risk-analysis","display_name":"Risk analysis (engineering)","score":0.2336057722568512}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7567796111106873},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.593042254447937},{"id":"https://openalex.org/C32896092","wikidata":"https://www.wikidata.org/wiki/Q189447","display_name":"Risk management","level":2,"score":0.5866296887397766},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.5614235401153564},{"id":"https://openalex.org/C11489865","wikidata":"https://www.wikidata.org/wiki/Q944806","display_name":"Operational risk","level":3,"score":0.5487615466117859},{"id":"https://openalex.org/C207209096","wikidata":"https://www.wikidata.org/wiki/Q848268","display_name":"Enterprise risk management","level":3,"score":0.5440472960472107},{"id":"https://openalex.org/C9272383","wikidata":"https://www.wikidata.org/wiki/Q5001930","display_name":"Business risks","level":2,"score":0.5015988349914551},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.4350321888923645},{"id":"https://openalex.org/C2776677110","wikidata":"https://www.wikidata.org/wiki/Q18357734","display_name":"Operational risk management","level":4,"score":0.4277316927909851},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4013853073120117},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.3588011860847473},{"id":"https://openalex.org/C112930515","wikidata":"https://www.wikidata.org/wiki/Q4389547","display_name":"Risk analysis (engineering)","level":1,"score":0.2336057722568512},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3390/systems11080408","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems11080408","pdf_url":"https://www.mdpi.com/2079-8954/11/8/408/pdf?version=1691497483","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:55390b8472aa46c98ff05e308b27f41f","is_oa":true,"landing_page_url":"https://doaj.org/article/55390b8472aa46c98ff05e308b27f41f","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Systems, Vol 11, Iss 8, p 408 (2023)","raw_type":"article"},{"id":"pmh:oai:mdpi.com:/2079-8954/11/8/408/","is_oa":true,"landing_page_url":"https://dx.doi.org/10.3390/systems11080408","pdf_url":null,"source":{"id":"https://openalex.org/S4306400947","display_name":"MDPI (MDPI AG)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I4210097602","host_organization_name":"Multidisciplinary Digital Publishing Institute (Switzerland)","host_organization_lineage":["https://openalex.org/I4210097602"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Systems; Volume 11; Issue 8; Pages: 408","raw_type":"Text"}],"best_oa_location":{"id":"doi:10.3390/systems11080408","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems11080408","pdf_url":"https://www.mdpi.com/2079-8954/11/8/408/pdf?version=1691497483","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G5818523446","display_name":"Integrovan\u00fd syst\u00e9m mana\u017ementu rizika v podmienkach s\u00fa\u010dasn\u00fdch zmien prostredia podnikov na Slovensku.","funder_award_id":"1/0243/20","funder_id":"https://openalex.org/F4320323641","funder_display_name":"Vedeck\u00e1 Grantov\u00e1 Agent\u00fara M\u0160VVa\u0160 SR a SAV"}],"funders":[{"id":"https://openalex.org/F4320321779","display_name":"Ministerstvo \u0161kolstva, vedy, v\u00fdskumu a \u0161portu Slovenskej republiky","ror":"https://ror.org/044gwpv05"},{"id":"https://openalex.org/F4320323641","display_name":"Vedeck\u00e1 Grantov\u00e1 Agent\u00fara M\u0160VVa\u0160 SR a SAV","ror":"https://ror.org/044gwpv05"}],"has_content":{"pdf":true,"grobid_xml":false},"content_urls":{"pdf":"https://content.openalex.org/works/W4385650478.pdf"},"referenced_works_count":63,"referenced_works":["https://openalex.org/W1649175093","https://openalex.org/W2028052098","https://openalex.org/W2076075552","https://openalex.org/W2145947539","https://openalex.org/W2402127393","https://openalex.org/W2519911486","https://openalex.org/W2598658003","https://openalex.org/W2672351778","https://openalex.org/W2782282192","https://openalex.org/W2795770032","https://openalex.org/W2895451674","https://openalex.org/W2905598067","https://openalex.org/W2915702489","https://openalex.org/W2924120685","https://openalex.org/W2944105596","https://openalex.org/W2944116928","https://openalex.org/W2947571495","https://openalex.org/W2952360544","https://openalex.org/W2954163347","https://openalex.org/W2964523333","https://openalex.org/W2996427367","https://openalex.org/W2999347342","https://openalex.org/W3010818485","https://openalex.org/W3029166415","https://openalex.org/W3029602877","https://openalex.org/W3032856638","https://openalex.org/W3034066515","https://openalex.org/W3035085400","https://openalex.org/W3039895266","https://openalex.org/W3048996704","https://openalex.org/W3081183270","https://openalex.org/W3087293489","https://openalex.org/W3097965099","https://openalex.org/W3109125668","https://openalex.org/W3109557611","https://openalex.org/W3110509976","https://openalex.org/W3111326296","https://openalex.org/W3121922095","https://openalex.org/W3123454197","https://openalex.org/W3126015844","https://openalex.org/W3127604633","https://openalex.org/W3135951456","https://openalex.org/W3138013156","https://openalex.org/W3178210664","https://openalex.org/W3178979076","https://openalex.org/W3211744636","https://openalex.org/W4200112137","https://openalex.org/W4205317603","https://openalex.org/W4212918826","https://openalex.org/W4220804272","https://openalex.org/W4281673724","https://openalex.org/W4295241319","https://openalex.org/W4309770136","https://openalex.org/W4309878808","https://openalex.org/W4312186717","https://openalex.org/W4362638746","https://openalex.org/W6636995473","https://openalex.org/W6669130666","https://openalex.org/W6786333970","https://openalex.org/W6789348073","https://openalex.org/W6790869311","https://openalex.org/W6805797310","https://openalex.org/W6808977720"],"related_works":["https://openalex.org/W2358374147","https://openalex.org/W1530615066","https://openalex.org/W2355586614","https://openalex.org/W1601345396","https://openalex.org/W1980511804","https://openalex.org/W2378750318","https://openalex.org/W1497190841","https://openalex.org/W2366417163","https://openalex.org/W380516208","https://openalex.org/W3123584172"],"abstract_inverted_index":{"Owners":[0],"and":[1,5,33,64,72,95,122,146,199,202,214],"managers":[2],"of":[3,38,58,79,89,92,119,143,158,174,212],"small":[4,213],"medium-sized":[6,215],"enterprises":[7],"(SMEs)":[8],"have":[9,128],"changed":[10],"their":[11,39,189],"perspective":[12],"on":[13,75,139,147],"risk":[14,70,132,206],"management":[15,71,78,133,207],"due":[16],"to":[17,30,47,62,163,181],"the":[18,24,35,59,66,76,107,117,141,144,149,156,160,172,182,209],"current":[19],"global":[20],"negative":[21],"threats":[22],"in":[23,51,68,106,155,171,184,208],"business":[25,190,210],"environment.":[26],"If":[27],"they":[28,41,186],"want":[29],"be":[31],"successful":[32],"ensure":[34],"financial":[36,77],"performance":[37],"business,":[40],"must":[42],"adopt":[43],"a":[44,104,135],"proactive":[45],"approach":[46],"reducing":[48,148,159],"strategic":[49],"risks":[50],"connection":[52],"with":[53,116,179,205],"operational":[54,69,131],"risks.":[55],"The":[56,86,192],"aim":[57],"article":[60],"is":[61],"identify":[63],"quantify":[65],"differences":[67],"its":[73,165],"effect":[74],"SMEs":[80,90],"between":[81,177],"four":[82],"Central":[83],"European":[84],"countries.":[85],"statistical":[87],"sample":[88],"consisted":[91],"1090":[93],"owners":[94],"top":[96],"managers.":[97],"Data":[98],"collection":[99],"was":[100],"carried":[101],"out":[102,188],"through":[103],"questionnaire":[105],"period":[108],"December":[109],"2022\u2013January":[110],"2023.":[111],"Statistical":[112],"hypotheses":[113],"were":[114],"evaluated":[115],"application":[118],"correlation":[120],"analysis":[121],"linear":[123],"regression":[124],"modelling.":[125],"Empirical":[126],"findings":[127,193],"confirmed":[129],"that":[130],"has":[134],"significant":[136],"positive":[137],"impact":[138],"improving":[140],"profitability":[142],"enterprise":[145],"enterprise\u2019s":[150,161],"indebtedness,":[151],"as":[152,154],"well":[153],"context":[157],"inability":[162],"pay":[164],"obligations.":[166],"However,":[167],"there":[168],"are":[169,194],"disparities":[170],"perception":[173],"this":[175],"influence":[176],"owners/managers":[178],"regard":[180],"country":[183],"which":[185],"carry":[187],"activities.":[191],"important":[195],"for":[196],"both":[197],"national":[198],"multinational":[200],"organizations":[201],"entities":[203],"dealing":[204],"environment":[211],"enterprises.":[216]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":4}],"updated_date":"2026-05-21T06:26:12.895304","created_date":"2025-10-10T00:00:00"}