Internal Business Success Factors of Small and Medium-Sized Enterprises in Russia
Abstract
The paper analyzes the internal success factors of small and medium-sized business in Russia. Special attention is paid to the research of financial factors as the most significant in business performance. The authors find the effect of various financial indicators of corporate performance on business success using accounting statements. The analysis of small and medium-sized business is conducted by federal districts of the Russian Federation. Key significant internal financial factors are revealed as ensuring the success of small and medium-sized business. On the basis of the factors so revealed, recommendations are made for improvement of small and medium-sized business.
References
[2] Barkhatov, V.I. and Pletnev, D.A. 2014. A comparative analysis of approaches to the definition of ‘business success’ in modern science. Bulletin of the Chelyabinsk State University 18(347) Vol. 46: 8-18.
[3] Bronsteen, J., Buccafusco, C.J. and Masur, J.S. 2013. Well-Being Analysis vs. Cost-Benefit Analysis. 62 Duke Law Journal 1603, Chicago-Kent College of Law Research: 2013-05.
[4] Chursina, U.A. and Lenkova, E.A. 2014. Financial Analysis of Small Businesses. Problems and Solutions. Internet-zhurnalNaukovedeniye 5(24): 154.
[5] Di Giuli A., Caselli S. and Gatti S. 2011. Are Small Family Firms Financially Sophisticated? Journal of Banking and Finance, 35(2011), 2931–2944.
[6] Drucker, J. 2007. Regional Dominance and Industrial Success: A Productivity-Based Analysis. PhD diss., Chapel Hill.
[7] Epifanova, T.V. 2012. Systematization of the Conceptual Apparatus to Analyze the Financial Stability of Small and Medium-sized businesses. Novyye tekhnologii, 4:190 – 198.
[8] Epifanova, T.V. 2012. The Main Provisions of the Analysis and Assessment of Financial Stability of Small and Medium-sized Businesses in Statics. Finansovyye issledovaniya, 4(37):72 – 78.
[9] Hewa Wellalage, N. and Locke, S. 2012. Factors Affecting the Probability of SME Bankruptcy: A Case Study on New Zealand Unlisted Firms. Business Journal for Entrepreneurs, June, 2012.
[10] Hohol, T. 2013. Features оf the Method of Financial Analysis of Small Business Enterprises. Vestnik Chernigovskogogosudar stvennogo tekhnologiche skogo universiteta. Seriya: Ekonomiche skiyenauki, 2(66): 386 – 393.
[11] Hussain, D. and Yaqub, M.Z. 2010. Micro-Entrepreneurs: Motivations, Success Factors, and Challenges. International Research Journal of Finance and Economics (56): 22 – 28.
[12] Informat sionno-analitiche skaya sistema FIRA PRO. Accessed November 30, 2015 http://www.fira.ru.
[13] Jasra, J.M., Hunjra, A.I., Rehman, A.U, Azam, R.I. and Khan, M.A. 2011. Determinants of Business Success of Small and Medium Enterprises. International Journal of Business and Social Science, 20(2).
[14] Jensen, M.C. 2001. Value Maximization, Stakeholder Theory, and the Corporate Objective Function. Journal of Applied Corporate Finance: 8-21.
[15] Kearney, C. et al. 2012. Culture and Capital Structure in Small and Medium Sized Firms, No. iiisdp419. IIIS, 2012.
[16] Mandrazhi, Z.R. and Abdiyeva, G.T. 2013. Features of Analysis Methodology of Effectiveness of Small Businesses. Vestnik Zhytomyrsʹ kohoder zhavnoho tekhnolohic hnoho universytetu. Seriya: Ekonomichninauky, 1:137 – 138.
[17] Pin'kovetskaya, U.S. 2012. Patterns in Development of Enterprise Structures in the Regions. Ekonomika regiona, 4(32):157 – 165.
[18] Pletnev, D., Nikolaeva, E. and Bitkulova, Z. 2014. Analysis of Value Added Distribution and Level of Transaction Costs in the Russian Corporations. CBU International Conference Proceedings, Central Bohemia University, Prague.
[19] Pletnev, D., Nikolaeva, E., Lushnikov, S. 2014. Impact of the transaction costs level on the sustainable growth of Russian metallurgical corporations. Innovation Management and Company Sustainability Proceedings of the 2nd International Conference, Prague.
[20] Romar, E. 2009. Strategic Intent, Confucian Harmony and Firm Success. Acta Polytechnica Hungarica, 3(6): 57-67.
[21] Sieger, P. 2011. Long-term Success of Family Firms: Investigating Specific Aspects of Firm-level Entrepreneurship and Individual-level Antecedents. PhD diss., St. Gallen: Niedermann Druck AG.
[22] Todeva, E. 1998. East European business networks: a review of dependencies and strategies and their influence on company success. Research papers in international business: 12-98.
[23] Usatova, L.V. (2008). The Methodology of Administrative Analysis in Small Business. Ekonomic heskiyeig umanitar nyyenauki, 4(206): 205-211.
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.