GKK

Supervisor: Prof. Dr. Szerb László, professor

The research team is investigating the competitiveness of domestic and international micro, small and medium-sized enterprises (MSMEs) using a self-developed questionnaire. The competences of MSMEs are measured along ten dimensions. The methodology and data set are suitable for identifying the unique strengths and weaknesses of small firms based on their competencies. The dataset can be complemented with a set of competitiveness indices and rankings combined with regional and institutional factors, which can be used as a basis for businesss and economic policy recommendations. 

Emphasized papers of the research group:

Lafuente, E., Szerb, L., Rideg, A. (2020): „A system dynamics approach for assessing SMEs' competitiveness.”
JOURNAL OF SMALL BUSINESS AND ENTERPRISE DEVELOPMENT, 27(4): 555-578.
DOI: 10.1108/JSBED-06-2019-0204.

Lafuente, E., Leiva, J. C., Moreno-Gómez, J., Szerb, L. (2020): „A nonparametric analysis of competitiveness efficiency: The relevance of firm size and the configuration of competitive pillars.”
BRQ BUSINESS RESEARCH QUARTERLY, 23(3): 203-216.
DOI: 10.1016/j.brq.2019.02.002.

Lafuente González, E. M., Szerb, L. (2021): „Understanding resource-based competitiveness: Competencies, business processes and alternative performance assessment.”
COMPETITIVENESS REVIEW, 31(3): 353-360.
DOI: 10.1108/CR-05-2021-165.

Lukovszki, L., Rideg, A., Sipos, N. (2021) „Resource-based view of innovation activity in SMEs: an empirical analysis based on the global competitiveness project.”
COMPETITIVENESS REVIEW: AN INTERNATIONAL BUSINESS JOURNAL, 31(3): 513-541.
DOI: 10.1108/CR-01-2020-0018.

Lányi, B., Hornyák, M., Kruzslicz, F. (2021) „The effect of online activity on SMEs’ competitiveness.”
COMPETITIVENESS REVIEW: AN INTERNATIONAL BUSINESS JOURNAL, 31(3): 477-496.
DOI: 10.1108/CR-01-2020-0022.

Supervisors: Dr. Gábor Rappai, professor, Dr. Krisztián Szűcs, associate professor

Related to this group are research topics based on advanced statistical, econometric tools for the analysis of complex databases, which focus mainly on mapping patterns in purchasing decisions or exploring novel relationships, including from a sport-economics perspective.

Emphasized papers of the research group:

Fűrész, D. I., Rappai, G. (2022) „Information leakage in the football transfer market.”
EUROPEAN SPORT MANAGEMENT QUARTERLY, 22(3): 419-439.
DOI: 10.1080/16184742.2020.1797847.

Gyimesi, A., Kehl, D. (2021) „Relative age effect on the market value of elite European football players: a balanced sample approach.”
EUROPEAN SPORT MANAGEMENT QUARTERLY
DOI: 10.1080/16184742.2021.1894206

Lányi, B., Hornyák, M., Kruzslicz, F. (2021) „The effect of online activity on SMEs’ competitiveness.”
COMPETITIVENESS REVIEW: AN INTERNATIONAL BUSINESS JOURNAL, 31(3): 477-496.
DOI: 10.1108/CR-01-2020-0022.

Nagy, Á., Németh, P., Kemény, I., Szűcs, K. (2022) „Webrooming és showrooming Magyarországon: Omnichannel vásárlói magatartás a sportcikkek piacán.”
VEZETÉSTUDOMÁNY-BUDAPEST MANAGEMENT REVIEW, 53(7): 79-93.
DOI: 10.14267/VEZTUD.2022.07.07.

Nagy, Á. A., Hornyák, M., Fűrész, D., Erdős, S. (2021). „Úton a körforgásos gazdaság felé. Szisztematikus irodalomelemzés.”
Közgazdasági Szemle, 68(10): 1109-1129.
DOI: 10.18414/KSZ.2021.10.1109.

Supervisors: Dr. Zoltán Schepp, professor, Dr. Zsófia Vörös, scientific senior researcher

Generating data through questionnaire surveys and laboratory experiments, the research group investigates the personality traits and cognitive processes associated with market entry decisions, entrepreneurial success, and innovation. This line of research is mainly focused on questions related to entrepreneurial overconfidence, optimism, effectuation and alertness. The other key research line of the group concentrates on the personal characteristics behind particular financial behaviours and well-being. For instance, we study what information influences the choice of brokers to follow on social trading platforms and under what conditions herding occurs in stock markets.

Emphasized papers of the research group:

S. Gubik, A., Vörös, Zs. (2023) „Why Narcissists May Be Successful Entrepreneurs: The Role of Entrepreneurial Social Identity and Overwork.”
JOURNAL OF BUSINESS VENTURING INSIGHTS, 19, e00364.
DOI: 10.1016/j.jbvi.2022.e00364.

Erdős, S., Papp, T., Vörös, Zs. (2022) „The effects of community-based signals on investment decisions in copy trading.”
JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS, 97, 101847.
DOI: 10.1016/j.socec.2022.101847.

Vörös, Zs., Szabó, Z., Kehl, D., Kovács, O. B., Papp, T., Schepp, Z. (2021) „The forms of financial literacy overconfidence and their role in financial well‐being.”
INTERNATIONAL JOURNAL OF CONSUMER STUDIES, 45(6): 1292-1308.
DOI: 10.14267/VEZTUD.2022.07.07.

Szerb, L., Vörös, Zs. (2021) „The changing form of overconfidence and its effect on growth expectations at the early stages of startups.”
SMALL BUSINESS ECONOMICS, 57: 151-165.
DOI: 10.1007/s11187-019-00297-9.

Vörös, Zs., Lukovszki, L. (2021). „The effects of subclinical ADHD symptomatology on the subjective financial, physical, and mental well-being of entrepreneurs and employees.”
JOURNAL OF BUSINESS VENTURING INSIGHTS, 15, e00240.
DOI: 10.1016/j.jbvi.2021.e00240.

Supervisors: Dr. András Takács, professor, Dr. Zoltán Schepp, professor

The research team focuses on corporate financing issues, the role of the banking sector in this, the financial performance and intrinsic value of companies, the relationship between financial and capital market performance, as well as the effects of ESG (especially cleaner production) on financial performance and investor acceptance (stock market performance). The team also deals with the changes in corporate and banking practices as a result of COVID.

Emphasized papers of the research group:

Takács, A.(2023) The positive effects of green technology investments on growth expectations
TECHNOLOGY IN SOCIETY, 75(November), Paper: 102407.
DOI: 10.1016/j.techsoc.2023.102407

Takács, A., Erdős, S.(2023) Ok vagy okozat? A környezeti és a pénzügyi teljesítmény összefüggésének elemzése nemzetközi nagyvállalati adatokon
STATISZTIKAI SZEMLE, 101(5): 387-402.
DOI: 10.20311/stat2023.05.hu0387

Ulbert, J., Takács, A., Csapi, V. (2022) Golden ratio-based capital structure as a tool for boosting firm's financial performance and market acceptance
HELIYON, 8(6), e09671.
DOI: 10.1016/j.heliyon.2022.e09671

Várkonyi, P., Takács, A. (2022)   A hazai kis- és középvállalati szektor vállalatértékelési sajátosságai
KÖZGAZDASÁGI SZEMLE, 69(10): 1195-1212.
DOI: 10.18414/KSZ.2022.10.1195

Takács A. (2021)  Differences in stock price drivers in case of global manufacturing and servicing companies
INTERNATIONAL JOURNAL OF BUSINESS EXCELLENCE, 25(3): 320-333.
DOI: 10.1504/IJBEX.2021.119461

Takács A., Ulbert J., Fodor A. (2020)  Have investors learned from the crisis? An analysis of post-crisis pricing errors and market corrections in US stock markets based on the reverse DCF model
APPLIED ECONOMICS, 52(20): 2208-2218
DOI: 10.1080/00036846.2019.1686114

Takács A., Szücs T., Kehl D., Fodor A. (2020) The effect of fair valuation on banks' earnings quality: empirical evidence from developed and emerging European countries
HELIYON, 6(12), Paper: e05659
DOI: 10.1016/j.heliyon.2020.e05659

Supervisor: Dr. Zsuzsanna Vitai, professor

The human resource management research group is an active member of the research project "Increasing the role of domestic companies in the re-industrialization of the national economy". The group conducts research in 5 teams:

• leadership and trust,

• the effect of entrepreneurial overconfidence on company competitiveness

• leadership, decision making and organizational theory,

• the effect of changed working conditions on employment,

• the effect of digitalization on organizational structure, the presence of power in the organization and on decision making.

The HRM Group conciusly examines several different fileds in order for an overarching research on human resource management.

Emphasized papers of the research group:

Kispál-Vitai, Zs., Németh, J. (2022) „Hasonlóság, vagy közeli kapcsolat? Az EEM és az ügynökelmélet analógiái.”
VEZETÉSTUDOMÁNY, 53(8-9): 76-88.
DOI: 10.14267/VEZTUD.2022.08-09.06.

Wood, G. Kispál-Vitai, Zs. (2021) „Concepts, Practices and Trends in SHRM.”, pp. 74-98.
In: Ed.: Rees, G., Smith P.(2021) „Strategic Human Resource Management: An International Perspective.”, SAGE Publications, London, Anglia.

Vitai, Zs., Benke, M. (2021) „Motivation to Learn? An Advanced Exploratory Study of Learning Motivation of Central-East European Business Students.”
MARKETING ÉS MENEDZSMENT 55(2): 27-35.
DOI: 10.15170/MM.2021.55.02.03.

Supervisor: Dr. Tamás Sebestyén, professor

Using methods in economic modelling, the group studies the resilience and adjustment capability of production and market systems, their reaction to different shocks, and the spread of these shocks at different levels of the economy. There is special emphasis on questions related to the structural aspects of supply and production networks, how different characteristics of economic structure are associated with the spread of and adjustment to shocks. The group develops and applies the GMR economic impact modell which is suited for simulating the potential effects of alternative technologies and the reconstruction of production systems and networks.

Emphasized papers of the research group:

Erdős, K., Baczur, R., Kehl, D., Farkas, R. 2022) "When post-merger price effect becomes smoothed over time: a case of a gasoline market merger."  
Energy Economics, 105, 105682.
DOI: 10.1016/j.eneco.2021.105682.

Varga-Csajkás, A., Sebestyén, T., Varga, A. (2022) "Dynamics of collaboration among high-growth firms: results from an agent-based policy simulation."
ANNALS OF REGIONAL SCIENCE, 70, 353-377.
DOI: 10.1007/s00168-022-01150-w.

Braun, E., Sebestyén, T., Kiss, T. (2021) „The strength of domestic production networks: an economic application of the Finn cycling index.”
APPLIED NETWORK SCIENCE, 6, article number: 69.
DOI: 10.1007/s41109-021-00411-5

Iloskics, Z., Sebestyén, T. (2021) „A sokkterjedés szerkezeti jellemzőinek változásai a fejlett gazdaságok között.”
STATISZTIKAI SZEMLE, 99(7), 661–699.
DOI: 10.20311/stat2021.7.hu0661.

Braun, E., Kiss, T., Sebestyén, T. (2020). „A magyar járműipar kapcsolati szerkezetének vizsgálata.” KÖZGAZDASÁGI SZEMLE, 67(6), 557–584.
DOI: 10.18414/KSZ.2020.6.557.

Supervisors: Dr. Vivien Csapi, associate professor, Dr. Zoltán Schepp, professor

ESG (environmental, social and governance) factors are receiving increasing attention in the financial sector, as more and more investors and companies consider them important. The international and domestic research carried out by our research team will allow us to measure the impact of ESG pillars from different perspectives and make recommendations to companies based on the results. Our questionnaire-based domestic study is a particularly important element of the research, as SMEs are present in large numbers in the Hungarian economy and taking ESG aspects into account gives them the opportunity to become more competitive and better adapted to the changing market environment. The methods and tools used in the data collection and analysis allow for a broad assessment of the ESG performance of companies, and the results of the research will allow us to develop our own index and ranking, which will provide companies with concrete recommendations to improve their performance. The results of the research will be of interest not only to market participants, but also to various decision-makers (e.g. investors, government), as they will provide an opportunity to make more responsible decisions by taking ESG aspects into account.

Emphasized papers of the research group:

Tóth-Pajor, Á., Kuti, M. (2023) „Stakeholder prioritization in the ESG practices of European listed firms.”  - Under Review.

Putzer, P., Márkus, G., Csapi V. (2023) „Measuring SME's ESG performance through competitiveness.”
SMALL BUSINESS ECONOMICS - Under Review.

Csapi, V., Gaál, A., Posza, A. (2023) „Effects of ESG Practices on Firms’ Flexibility Value”
JOURNAL OF SUSTAINABLE FINANCE AND INVESTMENT - Under review

Tóth-Pajor Á. – Ulbert J. –Csapi V. (2023) „Golden Ratio-Based Target Leverage and the ESG Performance of Listed Firms.”, - Under Review.

Csapi V. - Gaál A. (2023) „Overview of ESG Certification of Small and Medium-Sized Enterprises in Hungary Regional Statistics.” - Under Review.

Supervisors: Dr. Dóra Longauer, assistant professor, Dr. Tamás Vasvári, research fellow, Prof. Dr. József Vörös, professor

The research group is dedicated to identifying pivotal factors crucial for the development of the domestic industry. Our approach encompasses a global perspective, delving into the roles of multinational companies, the absorptive capacity of domestic entities, and the quality of connections between these segments. Special attention is given to the analysis of global value chains, (re-) location strategies and the inherent learning effects within them. This includes a thorough exploration of the dynamic optimization of production capability locations. Within our quality-focused models, we also explore dynamic pricing inquiries and examine the impact of quality-optimized inventory management on shaping production performance.

Emphasized papers of the research group:

Longauer, D., Vasvári, T., Hauck, Zs. (2023) "Investigating make-or-buy decisions and the impact of learning-by-doing in the semiconductor industry."
INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH.
DOI: 10.1080/00207543.2023.2250009

Longauer, D., Hauck, Zs., Vasvári, T. (2023) "Make-or-Buy Strategies in a Multi-Stage Manufacturing Process and the Role of Learning Effect in Relocation Decisions"
COMPUTERS AND INDUSTRIAL ENGINEERING, Papaer: 109259.
DOI: 10.1016/j.cie.2023.109259

Hauck, Zs., Rabta, B., Reiner, G. (2023) "Coordinating quality decisions in a two-stage supply chain under buyer dominance"”
INTERNATIONAL JOURNAL OF PRODUCTIONS ECONOMICS, Papaer: 108998.
DOI: 10.1016/j.ijpe.2023.108998

Hauck, Zs., Rabta, B., Reiner, G. (2022) "Impact of early inspection on the performance of production systems – Insights from an EPQ model."
APPLIED MATHEMATICAL MODELLING, 107: 670-687.
DOI: 10.1016/j.apm.2022.03.003

Vörös, J. (2021) „Production Dynamics in Case of Organizational Learning”
COMPUTERS AND INDUSTRIAL ENGINEERING, 157, Paper: 107340.
DOI: 10.1016/j.cie.2021.107340