The effect of the macro environment on the competitiveness of internationalized Hungarian medium-sized and large enterprises = A makrokörnyezet hatása az exportáló magyar közép-, és nagyvállalatok versenyképességére

Absztrakt (kivonat)

This study was conducted within the frames of the research program managed by the Competitiveness Research Centre of Corvinus University of Budapest, and it aims to analyze the direct effect of the items of the macro environment on the firm-level competitiveness of internationalized Hungarian medium-sized and large enterprises. For this purpose, the institution-based view from the Strategic Management literature was chosen to differentiate the variables found in the institutional environment of the firm while the FCI index was used to measure the firm-level competitiveness. For the quantitative analysis the survey method was selected. The data was gathered in 2018-2019 and the final sample used in this study contains 108 internationalized Hungarian medium-sized and large enterprises. After conducting factor and regression analyses the results show that the public administration, the institutions of the foreign economic relations, the education, the labor market and the wages have a positive direct effect on either the FCI index or its components while the political environment, the credit availability and the changes in the tax system have a direct negative effect. The study contributes to the current line of research by using a complex competitiveness index rather than a single profitability measure in the analysis as well as analyzing the effect of several items of the macro environment at once.