https://m2.mtmt.hu/ eng 2026-07-28 01:45 JournalArticle 36505533 VALIDATED true 0 false 2026-07-23T06:43:36.218+0000 2026-06-30T16:10:03.227+0000 2025-12-18T10:22:49.056+0000 true 10054155 Schiffler Kitti /api/admin/10054155 Admin Kitti Schiffler (PTE ÁJK, KTK admin 6) true 10054155 2026-06-30T16:10:03.503+0000 2026-06-30T16:10:03.503+0000 2026-04-03T10:09:50.326+0000 true 10036355 Révész Eszter /api/admin/10036355 Admin Eszter Révész (PTE ÁJK, KTK admin 5) true 10036355 Admin 10003133 /api/admin/10003133 Annamária Boros (MTMT Központi admin) Boros Annamária true 10003133 true 2026-07-02T11:19:53.421+0000 true false true 24 24 /api/publicationtype/24 PublicationType Journal Article 1 true 24 JournalArticle true 10000059 Article true 24 24 /api/publicationtype/24 PublicationType Journal Article 1 true 24 JournalArticle /api/subtype/10000059 Szakcikk SubType Article (Journal Article) 101 true 10000059 true 1 /api/category/1 Category Scientific true 1 Takács, András true true /api/journal/10004562 REVIEWED COMPETITIVENESS REVIEW 1059-5422 2051-3143 true false 10004562 false 10004562 true 1059-5422 2051-3143 Journal FOREIGN 36 7 1 23 1 23 2026 Purpose The purpose of this study is to examine how small- and mediumsized enterprises’ competitiveness and its components influence their equity value. While business valuation methods provide a framework for evaluating businesses based on financial data, they do not address how to increase the equity value of the business. In contrast, research on business competitiveness tends to focus on improving competencies, yet the relationship and impact on business value remain understudied, especially in the small business sector. The authors integrated these two lines of research. Design/methodology/approach Using a unique competitiveness measure developed within the Global Competitiveness Project and a corresponding financial data set of 1,023 Hungarian small- and medium-sized enterprises (SMEs), the authors empirically analysed the effect of overall competitiveness and its ten components on equity value through ordinary least squares regression analysis. Findings The authors recognise a significant positive relationship between competitiveness and value even after controlling for firm size and industry. The effect is stronger in the service and retail sectors than in manufacturing. Four components of competitiveness – international markets, decision-making, domestic market and online presence – are found to be significant determinants of equity value. Originality/value This study is among the first to empirically link firm-level competitiveness, measured through a multidimensional index, with equity valuation in the SME sector. By combining a novel, multidimensional competitiveness framework with dual-method equity valuation based on financial data from over a thousand Hungarian SMEs, the study offers a unique theoretical contribution by linking firm-level strategic capabilities with financial value creation. In doing so, it bridges a significant gap between the resource-based view and SME valuation literature, particularly in contexts where intangible drivers are central yet often unaccounted for in standard valuation models. The findings provide clear managerial implications for entrepreneurs and investors seeking to enhance firm value through targeted improvements in competitiveness, especially in emerging and transitional economies. 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Committee on Economics:C nemzetközi COMPETITIVENESS REVIEW 1059-5422 2051-3143 RatingType 10012 /api/ratingtype/10012 IX. Committee on Economics GMB Institute 19066 /api/institute/19066 Committee on Economics HASSELIX GMB [1901-] 0 false true false Gazdaságtudományi Doktori Minősítő Bizottság Committee on Economics true 19066 true true true C nemzetközi false true SjrRating 11671995 /api/sjrrating/11671995 sjr:Q1 (2026) Scopus - Business, Management and Accounting (miscellaneous) COMPETITIVENESS REVIEW 1059-5422 2051-3143 82 0.24 journal RatingType 10002 /api/ratingtype/10002 sjr sjr true true ClassificationExternal 1401 /api/classificationexternal/1401 Scopus - Business, Management and Accounting (miscellaneous) true 1401 true Q1 FROM_LAST_YEAR true true Reference 70894367 /api/reference/70894367 1. 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(2026) COMPETITIVENESS REVIEW 1059-5422 2051-3143 36 7 1-23<div class="JournalArticle Publication long-list"> <div class="authors"> <img title="Forrásközlemény" style="float: left" src="/frontend/resources/grid/publication-core-icon.png"> <img title="Idézőközlemény" style="float: left" src="/frontend/resources/grid/publication-citation-icon.png"> <div class="autype autype0"> <span class="author-name" mtid="10015785"><a href="/gui2/?type=authors&mode=browse&sel=10015785" target="_blank">Takács András (<span class="authorship-author-name">Takács András</span> <span class="authorAux-mtmt"> Vállalatértékelés, számvitel</span>) </a> </span> <span class="author-affil"><span title="University of Pécs">UP</span>/<span title="Faculty of Business and Economics">FBE</span>/Pénzügy és Számvitel Intézet</span> ;&nbsp;&nbsp;&nbsp; <span class="author-name" mtid="10009976"><a href="/gui2/?type=authors&mode=browse&sel=10009976" target="_blank">Szerb László ✉ (<span class="authorship-author-name">Szerb László</span> <span class="authorAux-mtmt"> Közgazdaságtan</span>) </a> </span> <span class="author-affil"><span title="University of Pécs">UP</span>/<span title="Faculty of Business and Economics">FBE</span>/Kvantitatív Menedzsment Intézet</span> ;&nbsp;&nbsp;&nbsp; <span class="author-name" mtid="10021546"><a href="/gui2/?type=authors&mode=browse&sel=10021546" target="_blank">Rideg András (<span class="authorship-author-name">Rideg András</span> <span class="authorAux-mtmt"> KKV versenyképesség</span>) </a> </span> <span class="author-affil"><span title="University of Pécs">UP</span>/<span title="Faculty of Business and Economics">FBE</span>/Kvantitatív Menedzsment Intézet</span> </div> </div> <div class="title"><a href="/gui2/?mode=browse&params=publication;36505533" target="_blank">The effect of competitiveness on the equity value of SMEs: evidence from a Central European country</a></div> <div> <span class="journal-title">COMPETITIVENESS REVIEW</span> <span class="journal-issn">(<a target="_blank" href="https://portal.issn.org/resource/ISSN/1059-5422">1059-5422</a> <a target="_blank" href="https://portal.issn.org/resource/ISSN/2051-3143">2051-3143</a>)</span>: <span class="journal-volume">36</span> <span class="journal-issue">7</span> <span class="page"> pp 1-23 </span> <span class="year">(2026)</span> </div> <div class="pub-footer"> <span class="language" xmlns="http://www.w3.org/1999/html">Language: English | </span> <span class="identifiers"> <span class="id identifier oa_GOLD" title=" Gold "> <a style="color:blue" title="10.1108/CR-05-2025-0161" target="_blank" href="https://doi.org/10.1108/CR-05-2025-0161"> DOI </a> </span> <span class="id identifier oa_none" title="none"> <a style="color:blue" title="001641213100001" target="_blank" href="https://www.webofscience.com/wos/woscc/full-record/001641213100001"> WoS </a> </span> <span class="id identifier oa_none" title="none"> <a style="color:blue" title="105025425993" target="_blank" href="http://www.scopus.com/record/display.url?origin=inward&eid=2-s2.0-105025425993"> Scopus </a> </span> <span class="id identifier oa_GOLD" title=" Gold "> <a style="color:black" title="https://www.emerald.com/cr/article-pdf/doi/10.1108/CR-05-2025-0161/11094495/cr-05-2025-0161en.pdf" target="_blank" href="https://www.emerald.com/cr/article-pdf/doi/10.1108/CR-05-2025-0161/11094495/cr-05-2025-0161en.pdf"> Full text </a> </span> </span> <OnlyViewableByAuthor><div class="ratings"> <div class="journal-subject">Journal subject: Scopus - Business, Management and Accounting (miscellaneous)&nbsp;&nbsp;&nbsp;Rank:&nbsp;Q1</div> <div class="journal-subject">Journal subject: Scopus - Business and International Management&nbsp;&nbsp;&nbsp;Rank:&nbsp;Q2</div> <div class="journal-subject">Committee on Economics HASSELIX GMB [1901-]&nbsp;&nbsp;&nbsp;C nemzetközi</div> </div></OnlyViewableByAuthor> <div class="publication-citation" style="margin-left: 0.5cm;"> <span title="" class="citingPub-count">Citing papers: 3</span> | Independent citation: 3 | Self citation: 0 | Unknown citation: 0 | Number of citations in WoS: 1 | Number of citations in Scopus:&nbsp;1 | WoS/Scopus assigned:&nbsp;1 | Number of citations with DOI:&nbsp;2 </div> <div class="publication-citation"> <a target="_blank" href="/api/publication?cond=citations.related;eq;36505533&sort=publishedYear,desc&sort=title"> Number of cited publications: 7 </a> </div> <div class="mtid"><span class="long-pub-mtid">Publication: 36505533</span> | <span class="status-data status-VALIDATED"> Validated </span> Core Citing | <span class="type-subtype">Journal Article ( Article ) </span> | <span class="pub-category">Scientific</span> | <span class="publication-sourceOfData">WoS-XML</span> </div> <div class="funder"> (TKP2021-NKTA-19) </div> <div class="lastModified">Last Modified: 2026.06.30. 18:10 Annamária Boros (MTMT Központi admin) </div> <div class="lockedBy">Centrally managed 2026.07.02. 13:19 Annamária Boros (MTMT Központi admin) </div> </div></div>