International Journal of Entrepreneurial Knowledge 2022-12-22T14:38:55+01:00 prof. Ing. Aleksandr Ključnikov, Ph.D. Open Journal Systems <div id="lipsum" style="text-align: justify;"> <div><span style="line-height: 1.3em;">An independent scientific periodical peer-reviewed journal <strong>International Journal of Entrepreneurial Knowledge (IJEK)</strong> provides expert information on all aspects of entrepreneurship and business issues, including the results of basic and applied economic research by domestic and international authors. </span></div> <div> </div> <div><span style="line-height: 1.3em;">International Journal of Entrepreneurial Knowledge is </span>published by the Center for International Scientific Research of VŠO and VŠPP in cooperation with the following partners: <ul> <li class="show">Pan-European University in Prague, Czech Republic</li> <li class="show">School of Business and Administration of the Polytechnic Institute of Setúbal, Portugal</li> <li class="show">Faculty of Operation and Economics of Transport and Communications, University of Zilina, Slovakia</li> <li class="show">Szent István University, Faculty of Economics and Social Sciences, Hungary</li> <li class="show">University of Debrecen Faculty of Economics and Business, Hungary</li> </ul> </div> <div>Journal brings the expert opinions and results of the scientific studies related to entrepreneurship in a wide range of the scientific fields, like <span style="line-height: 1.3em;">entrepreneurship, </span><span style="line-height: 1.3em;">enterprise economics, </span><span style="line-height: 1.3em;">business administration, </span><span style="line-height: 1.3em;">innovation management in entrepreneurship, </span><span style="line-height: 1.3em;">entrepreneurial finance, </span><span style="line-height: 1.3em;">international trade and finance, </span><span style="line-height: 1.3em;">knowledge entrepreneurship, entrepreneurial knowledge, entrepreneurial business models, entrepreneurial behavior, entrepreneurial decision making, social and ecological impact of entrepreneurship, start-ups and incubation, success and failure in entrepreneurship, personality, local, regional and global aspects of entrepreneurship, evolution, and history of entrepreneurship, personalities and profiles of entrepreneurs, and other entrepreneurial issues.</span></div> <div> </div> <div> <div> <div>IJEK considers the following types of articles:</div> <div> <ul> <li class="show"><strong>Research</strong> - reports of data from original research. Articles bring information about the outputs of the primary research of the author.</li> <li class="show"><strong>Case studies</strong>– article presents the experience from the application of the existing method or procedure and brings relevant findings which could be valuable for other readers.</li> <li class="show"><strong>Review articles</strong> – article presents the systematic review or comparative study of already known knowledge. A review should bring any new viewpoint and connections which could be valuable for the other readers.</li> </ul> </div> </div> <div>In some cases, we accept the papers, that inform about the progress of the scientific projects, financed by the European Union in the Other issues section.</div> <div> </div> </div> <div>The first issue of the journal was published in December 2013. The journal is published two times a year in printed and electronic form. </div> <div> </div> <div><strong style="line-height: 1.3em;">International Journal of Entrepreneurial Knowledge</strong><strong style="line-height: 1.3em;"> (IJEK)</strong><span style="line-height: 1.3em;"> </span><span style="line-height: 1.3em;">maintains a standard double-blind peer-review process. The double-blind process means that the author does not know the reviewer’s identity, nor does the reviewer know the name of the author or other reviewers.</span></div> <div> </div> <div> <div>IJEK is an Open Access journal and does not charge readers or their institutions for access. </div> <div> </div> <div> <p><strong>Copyright</strong></p> <ul> <li class="show">International Journal of Entrepreneurial Knowledge is published by the Center for International Scientific Research of VŠO and VŠPP</li> <li class="show">Copyright belongs to the Center for International Scientific Research of VŠO and VŠPP.</li> <li class="show">The publisher, Center for International Scientific Research of VŠO and VŠPP, provides free access policy to the Journal of Tourism and Services.</li> <li class="show">International</li> <li class="show">Journal of Entrepreneurial Knowledge is an open-access journal with <a style="background-color: #ffffff;" href="" rel="license">Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License</a> (CC BY-NC-ND) policy which means that all content is freely available without charge to the user or his/her institution. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles, or use them for any other lawful purpose, without asking prior permission from the publisher or the author. This is in accordance with the BOAI definition of open access.</li> </ul> </div> </div> <div><span style="font-size: 0.875rem;">International Journal of Entrepreneurial Knowledge uses </span><strong style="font-size: 0.875rem;">Digital Object Identifier System (DOI).</strong></div> </div> AN APPROACH TO THE PHENOMENON OF CORPORATE ENTREPRENEURIAL CULTURE 2022-07-23T02:33:33+02:00 Thomas Breyer-Mayländer Christopher Zerres <p>This paper has the objective of creating a framework for a different cultural dimension of corporate entrepreneurship leading to corporate entrepreneurial culture (CEC). The analysis of CEC is based on a review of existing concepts of organisational culture and entrepreneurship. They are combined to create a framework of CEC, including macro- and microlevels and examples of subcultures. Core ideas of the framework are validated by qualitative interviews with ten experts. The identified organisational category of the CEC framework is defined by the levels of micro-cultures or subcultures and includes the upper levels of the hierarchy, including the industry level. Geographic categories such as regional or national culture are also part of the system. The individual category of the CEC framework is characterised by competencies (including aspects such as motivation, creativity, mobilising others, coping with uncertainty, teamwork and social competencies) and entrepreneurial personalities. The results of the interviews show the importance of these individual competencies for a lively CEC. The different levels, such as national and professional cultures, as a dimension of the organisational category of the framework are also confirmed by the interviews. The findings indicate that the individual category of CEC could be used for job satisfaction or engagement and the degree of CEC of an organisation could be defined and developed by the organisational category. The identified framework contributes to an understanding of this complex topic and supports companies in the implementation of entrepreneurial ideas in different organisational contexts.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge INTERCONNECTION AMONG CRYPTOCURRENCIES: USING VECTOR ERROR CORRECTION MODEL 2022-05-11T14:31:05+02:00 Cosmos Obeng Cleophas Attor <p>The research paper aimed to investigate the relationship between the major popular cryptocurrencies in terms of market dominance and identify any pattern and/or causality between the short-run and long-run series. Cryptocurrency has received much attention because of media publicity and the financial returns it generates within a short time, with its associated risk level. This innovative financial research investigates for the first time by thoroughly analyzing nine top cryptocurrencies, excluding stablecoins. The study used the Vector Error Correction model to analyse how the various cryptocurrency under investigation are interconnected. The results demonstrated how concentrated the causality effect is on some specific cryptocurrencies. The study uses the top nine cryptocurrencies on the crypto markets, excluding stablecoins that have existed since October 2017. The frequency of the data is 1523 daily closing prices. The choice of the data stemmed from its availability and has existed since October 2017. The primary outcome is clear and possibly explains the dominance of Bitcoin and Ethereum as the main drivers of the prices of related or altcoins. Any movement in the price level of the two dominant cryptos affects all the altcoins on the crypto market. The research further unearths the interconnection or correlation between the major cryptocurrencies. It will assist institutional and retail investors, fund managers, and managers, with the possible mix of assets in their portfolio based on their risk appetite level in making investment decisions.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge THE IMPACT OF ENTREPRENEURIAL ATTITUDES AND ENTREPRENEURIAL COMPETENCE ON STUDENTS’ BUSINESS SUCCESS 2022-10-13T10:23:26+02:00 Kuswanto Suratno Meilinda Tri Wulandari <p>The Student Entrepreneurship Program (ESP) is a Jambi University program to facilitate students to develop businesses as a means of education, training, and coaching to become young entrepreneurs. The attitude and competence of students towards entrepreneurship largely determine the success of student business. This study aims to examine the effect of entrepreneurial attitudes and entrepreneurial competence on the business success of Jambi University students. The population of this study was students participating in the Jambi University Student Entrepreneurial Program (ESP) in 2020-2021, as many as 104 business groups. Each business group consists of 3-5 students. One person (the group leader) was selected for each group as a respondent. Data were collected using a questionnaire distributed online and analyzed using multiple regression statistical techniques. The results of the study show that (1) There is an influence of entrepreneurial attitude on business success. (2) There is an influence of entrepreneurial competence on business success. (3) There is an influence of entrepreneurial attitude and entrepreneurial competence on business success. It is suggested that students participating in ESP be more committed to developing a business financed from program funds and improving their expertise in the field of business they are involved in. More intensive coaching is needed for business development run by students by ESP managers.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge THE ROLE OF ENTREPRENEURIAL ATTITUDE AND OPPORTUNITY RECOGNITION ON ENTREPRENEURIAL INTENTION OF UNIVERSITY STUDENTS 2022-06-01T10:14:59+02:00 Klenam Korbla Ledi Enya Ameza-Xemalordzo Joseph Owusu <p>The study investigates the mediating role of entrepreneurial opportunity recognition on the relationship between entrepreneurial attitude and entrepreneurial intention among university students in Ghana. A structured questionnaire was administered to 500 university students in Ghana, and the data collected was analyzed using Amos. Structural equation modeling (SEM) was used to assess the hypothesized paths. The result indicated that entrepreneurial attitude had a substantial positive impact on both entrepreneurial intention and opportunity recognition among university students in Ghana. The result further indicated that entrepreneurial opportunity recognition positively affected university students' entrepreneurial intention. The study further illuminated that entrepreneurial opportunity recognition mediated the relationship between entrepreneurial attitude and entrepreneurial intention. This implies that an entrepreneurial attitude increases the chances of opportunity recognition and self-employment propensity in Ghana. The study suggests that students should cultivate an entrepreneurial mindset and develop a healthy attitude toward entrepreneurship, enhancing the chances of identifying and pursuing business opportunities. The study contributes to the literature by focusing on and highlighting innate attributes that can possibly contribute to self-employment propensity.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge A VALUE STREAM MAPPING IN ADVANCED MANAGEMENT SYSTEMS 2022-10-13T19:05:56+02:00 Monika Sekaninová <p>All efforts in advanced management systems should maximize value for the customer. One effective way to identify and realize this value is to map the product's flow from end customer to a supplier by visualizing the value streams of individual processes. This paper aims to analyse and propose the introduction of a lean value stream in vacuum pump assembly to achieve increased production output. Vacuum technology is the field of engineering concerned with creating and using a vacuum. It, therefore, deals with an environment in which the gas pressure is lower than the atmospheric pressure. A vacuum pump is a gas pump that extracts air from an enclosed space to create a vacuum. The basic parameters are the vacuum level achieved and the pumping speed. Several design solutions are available that meet the aforementioned basic parameters. A turbomolecular pump was selected for this study. The incentive to improve the material and information flow on the vacuum pump assembly line is the significant increase in orders from the customer. The technique used is production value stream mapping. Following the output of the Value Stream Mapping (VSM), a change plan is determined to optimize the assembly process, which will positively influence the future state of the value stream to meet the customer's requirements.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge FACTORS DETERMINING THE ABILITY OF RURAL-BASED UNIVERSITIES TO NURTURE POSITIVE ENTREPRENEURIAL BEHAVIOUR AMONG UNIVERSITY STUDENTS 2022-07-15T08:47:31+02:00 Shadreck Muchaku Grey Magaiza <p>There is limited knowledge on how to promote the assimilation of positive entrepreneurial behaviour, which undermines start-up venture creation and job opportunities by and for graduates from rural-based universities. Although there is considerable research on the adoption of entrepreneurial behaviour, little has been done so far to enhance an understanding of how various factors influence the abilities of rural-based universities to nurture it. To bridge this gap, this paper uses a bibliometric assessment of the major factors that undermine the assimilation of entrepreneurial behaviour by students in most rural-based universities. Specifically, this study aimed to distill in the literature the constraints that hinder the abilities of rural-based universities to promote entrepreneurship in Africa, America, Asia, and Europe. Purposive and snowball sampling was used to select articles drawn from these geographical areas. Data were analysed using ATLAS.ti software. It was found that various factors largely influence and determine the assimilation of entrepreneurial behaviour. Among these is a) nature of training that institutional curricula provide; b) accessibility of funds and infrastructure; and c) loosely premised cultural orientations. Because of this, there is a need to explore ways to assimilate entrepreneurial behaviour in undergraduate students. We believe the criteria we present for use in assessing the ability of a rural-based university in entrepreneurial education are applicable and valuable in promoting positive entrepreneurial behaviour among students. We hope that this study will be a catalyst for further exploration of interventions that can help in creating an entrepreneurial society.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL 2022-12-02T15:40:18+01:00 Salem Udoh <p>Financial management is a complex body of knowledge that is still evolving without any successful template for its practice, especially in private firms. This paper reviews research on actual financial management in private firms to see if cash management models critical to working capital management are incorporated. The approach is to review all the models in extant literature used for cash management, itself a component of working capital. However, search results show that only Pugmire (1952) outlines the activities involved in actual financial management practice for local schools in the United States. He identified the generalizable constituents of the financial management process, including budgeting, accounting, auditing, records and reports, and cost analysis. The choice of cash as the review focus is because it is the essence of financial management in private firms: determining and sourcing capital as cash and utilizing it by allocation process to generate more cash and maximize the firm's value to stakeholders. Therefore, this paper contributes to financial management literature by extending Pugmire's (1952) template for public schools with cash management models in extant literature that can also be adapted for private firms, with potential for further research.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge ANTECEDENTS AND BARRIERS WHICH DRIVE SMES IN RELATION TO CORPORATE SOCIAL RESPONSIBILITY? LITERATURE REVIEW 2022-12-21T14:55:49+01:00 Zoltán Rózsa Jakub Holúbek Zuzana Veselá Olga Soboleva <p>Small and medium-sized enterprises (SMEs) cannot be considered a "shrunken" of large enterprises. They are highly heterogeneous, usually have more informal organizational characteristics, and do not have departments dedicated explicitly to corporate social responsibility (CSR) tasks. Therefore, research on CSR in SMEs faces many challenges. The situation is a complex phenomenon, primarily because the nature of CSR is influenced by the environment uniqueness in which it is studied or practiced. This paper aims to identify the main themes of qualitative research on CSR in SMEs. The Web of Science database was chosen to identify relevant literature, and the research focuses only on peer-reviewed articles published in English up to November 2022. The resulting dataset was created by selecting articles with a qualitative or combined approach. A total of 21 articles published in 10 journals were identified. The published studies contained the following research streams: 1. SMEs' CSR activities and reasons for involvement, 2. Ethical values of the entrepreneur or owner-manager and their impact on SMEs' social responsibility, 3. Relationships with stakeholders, 4. The nature of SMEs' social responsibility implementation. The findings of this study contribute to the CSR literature and have important practical implications for SME managers. The conclusion also formulates questions to stimulate the potential for further research.</p> 2022-12-22T00:00:00+01:00 Copyright (c) 2022 International Journal of Entrepreneurial Knowledge