Thesis supervisor: László Pataki
Location of studies (in Hungarian): John von Neumann University Budapest Abbreviation of location of studies: NJE
Description of the research topic:
In recent decades, we have seen the appearance of many alternative forms of financing at the international level. These forms of financing, as well as the consideration of the sustainability requirement, significantly influence the capital structure of enterprises, and through this have an impact on other parameters that characterize the management of enterprises. Changes in the capital structure are also influenced by other factors, such as the nature of the activity, the size of the enterprise, and the current stage of the enterprise's life. All of this creates the opportunity to conduct comparative tests both in domestic and international terms.
The capital situation and capital structure of enterprises have undergone significant changes at the international level in recent decades. These changes are related to the emergence and expansion of alternative forms of financing (e.g. venture capital financing, crowdfunding, mezzanine financing), while the sustainability requirement also appears in connection with decisions regarding the capital structure. Decisions related to the formation and optimization of the capital structure also carry national characteristics, so their comparative analysis enables conclusions of scientific value to be drawn. The range of factors to be taken into account when optimizing the capital structure is also wide. When making financing decisions, the life stage of the business must be taken into account. The changes that took place within the structure of the resources of the enterprises had/have an impact on other parameters that characterize the management of the enterprises (financial situation, profitability, efficiency, etc.). An incorrectly designed resource structure can be the cause of corporate crises. In many financial crisis forecasting models (bankruptcy models), the indicators and parameters related to the capital structure play a significant role.
Possible research directions:
the exploration of trends related to the capital structure that can be observed in individual countries, and the analysis of their causes and consequences;
the development of the capital situation and capital structure of domestic enterprises in comparison with other countries of the European Union;
the differences between the changes in the resource structure of the enterprises classified in each branch of the national economy, their root causes and consequences in an international comparison;
examination of the causes and effects of differences in the resource structure that occur with different business sizes and life stages, and
evaluation of the role of indicators for characterizing the capital structure in crisis forecasting.
THE MOST IMPORTANT PUBLICATIONS of the topic announcer in the proposed research topic:
1. Al-Hanakta R., Hossain M.B., Pataki L., Dunay A. (2023): Eco-innovation influence on business performance in Jordanian micro, small and medium enterprises operating in the food processing sector. PLoS ONE 18(2): e0281664. https://doi.org/10.1371/journal.pone.0281664
2. Vitéz-Durgula J., Dunay A., Thalmeiner G., Vajai B., Pataki L. (2023): Financial analysis and survival research of the Visegrad Countries’ Health Industries. Sustainability 15(16) Paper: 12361 https://doi.org/10.3390/su151612360
3. Németh T., Hegedűs M., Pataki L. (2023): The impact of the Covid-19 pandemic ont he capital structure and other financial characteristics of Hungarian hospitality SMEs. In: Albrychiewicz-Slosinska A., Karczewska A, Skiba L. (szerk) 12th International Conference on Management – „Sustainability-Security-Quality”. Book of Proceedings Czestochowa, Wydawnictwo Politechniki Czestochowskiej. 275 p. pp. 222-227. DOI: 10.17512/CUT/9788371939563/35
4. Németh T., Paweloszek I., Hegedűs M., Pataki L. (2023): Comparative analysis of the information technology service sector between 2019-2021 based ont he capital structure of the Hungarian and Slovak SME sectors. Economics and Working Capital. 1-2. pp 54-60.
5. Patyi B., Pataki L. (2020): The main financial characteristics of the successfully operating newly established enterprises. SELYE E-STUDIES 11 : 2 pp. 17-27.
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