Scientific Papers

JOURNAL OF INTERNATIONAL STUDIES


© CSR, 2008-2019
ISSN: 2306-3483 (Online), 2071-8330 (Print)

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Participative management style in SMEs: Influence of CSR factors. Empirical evidence from the Visegrad Group

Vol. 17, No 3, 2024

 

Jaroslav Belás, Jr.

 

Alexander Dubček University in Trenčín,

Faculty of Social and Economic Relations, 

Slovakia

jaroslav.belas@tnuni.sk

ORCID 0000-0003-1796-8598


Participative management style in SMEs: Influence of CSR factors. Empirical evidence from the Visegrad Group

Zora Petráková

 

Slovak University of Technology in Bratislava,

Faculty of Civil Engineering, Institute of Civil Engineering, 

Slovakia

zora.petrakova@stuba.sk

ORCID 0000-0002-1398-9415


Justas Streimikis

 

Lithuanian Centre for Social Sciences,

Institute of Economics and Rural Development, 

Lithuania

justas.streimikis@gmail.com 

ORCID 0000-0003-2619-3229


Kristína Kozová

 

Alexander Dubček University in Trenčín,

Faculty of Social and Economic Relations, 

Slovakia

kristina.kozova@tnuni.sk

ORCID 0009-0008-4296-7654

 

 

 

Abstract. The aim of this study was to define significant corporate social responsibility (CSR) factors that determine the use of participative management style in SMEs and quantify this influence. In order to achieve this objective, a questionnaire survey was conducted on a sample of 1,398 SMEs across V4 countries. The data was collected through computer-assisted web interviewing by MNFORCE, a well-known market research firm. The empirical research was conducted in June 2022. The fundamental relationships and interconnections between CSR and the use of a participatory management approach were substantiated through the application of regression analysis. The research results demonstrated that a portion of these CSR factors significantly affects the application of participative leadership in SMEs. The strongest impact is observed for entrepreneurs' belief that CSR makes it possible to acquire satisfied, loyal, and motivated employees. The second most significant factor determining the application of participative leadership style was factor X3 (the average value of the correlation coefficient was 0.208). The potential opportunity to gain competitive advantage through the implementation of CSR also motivates entrepreneurs to apply participative leadership in SMEs; as the third most significant factor, it had an average correlation coefficient of 0.199. Finally, entrepreneurs' belief that implementing CSR has an impact on improving firm performance also proved motivating for SMEs. This study has significant practical implications. The results should motivate managers to implement essential attributes of the CSR concept, especially concerning their own employees. Managers should also recognize the importance of assessing and implementing appropriate HRM policies regarding skills, motivation, and opportunities for their employees in order to enhance business performance.

 

Received: October, 2023

1st Revision: July, 2024

Accepted: September, 2024

 

DOI: 10.14254/2071-8330.2024/17-3/7

 

JEL ClassificationM14, L26, J53

Keywordscorporate social responsibility, participative management style, SMEs