@article{MTMT:35075953,
	title = {What women want? – Role of higher education in shaping female entrepreneurship},
	url = {https://m2.mtmt.hu/api/publication/35075953},
	author = {Becsky-Nagy, Patrícia and Fazekas, Balázs},
	doi = {10.15196/RS150202},
	journal-iso = {REG STAT},
	journal = {REGIONAL STATISTICS},
	volume = {15},
	unique-id = {35075953},
	issn = {2063-9538},
	year = {2025},
	eissn = {2064-8243},
	pages = {208-233},
	orcid-numbers = {Becsky-Nagy, Patrícia/0000-0002-3928-7606; Fazekas, Balázs/0000-0003-4303-1184}
}

@article{MTMT:35616144,
	title = {Where is the EXIT? - The Exit Characteristics of Venture Capital Through the Case of Hungarian JEREMIE Investments},
	url = {https://m2.mtmt.hu/api/publication/35616144},
	author = {Fazekas, Balázs and Becsky-Nagy, Patrícia},
	journal-iso = {MONTEN J ECON},
	journal = {MONTENEGRIN JOURNAL OF ECONOMICS},
	volume = {22},
	unique-id = {35616144},
	issn = {1800-5845},
	abstract = {For developing markets, including those in the Central and Eastern European
		region, the available data on the venture capital sector at the investment level
		are rather limited. While surveys on investment activity and capital outflows
		are becoming more comprehensive, the study of firm-level effects, in particular exits, is considered a major research gap. Using one of the most active
		venture capital markets’ example in the region, this paper examines the exit
		characteristics of firms in the region by exit type, as well as the main financial
		characteristics that influence each exit method. Our analysis is based on a
		unique hand collected dataset covering the entire population of the Hungarian JEREMIE investments including the data from 340 companies that received funding between 2010 and 2016. The approach includes a detailed
		assessment of key financial metrics, such as revenue growth, to understand
		their impact on exit events. Firms are classified into three categories based
		on exit mode, which are sale to 3rd party, manager buy-back and failed exit.
		Logit models were used to examine the factors influencing each exit mode.
		Our results show that among the financial characteristics, rapid revenue
		growth is considered to be the most important success factor, while financial
		characteristics can explain exit types only to a small extent. Due to the significant regional state involvement, the characteristics of exit types do not necessarily coincide with the exit patterns of traditional market-based investments despite of the hybrid investment strategy. The study addresses a significant research gap concerning firm-level effects, particularly exits, in the
		venture capital sector of the Central and Eastern European region. Due to
		significant state involvement, the characteristics of exit types do not necessarily align with those of traditional market-based investments. This discrepancy underscores the differences inherent in hybrid investment strategies
		and emphasizes the unique economic context of the region.},
	keywords = {Venture capital; EXIT; Governmental support; Developing markets},
	year = {2025},
	eissn = {1800-6698},
	pages = {45-56},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184; Becsky-Nagy, Patrícia/0000-0002-3928-7606}
}

@misc{MTMT:36161956,
	title = {Hitelpiaci túlfűtöttség és recesszió – A hitelrések és a gazdasági egyensúlytalanság kapcsolata [konferencia előadás]},
	url = {https://m2.mtmt.hu/api/publication/36161956},
	author = {Fazekas, Balázs},
	unique-id = {36161956},
	year = {2025},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184}
}

@article{MTMT:33643986,
	title = {Spurring entrepreneurship with public venture capital in developing industries – evidence from Hungary},
	url = {https://m2.mtmt.hu/api/publication/33643986},
	author = {Becsky-Nagy, Patrícia and Fazekas, Balázs},
	doi = {10.1108/JEEE-06-2022-0167},
	journal-iso = {JEEE},
	journal = {JOURNAL OF ENTREPRENEURSHIP IN EMERGING ECONOMIES},
	volume = {16},
	unique-id = {33643986},
	issn = {2053-4604},
	keywords = {Public Policy; innovation; FIRMS; Venture capital; entrepreneurial finance; entrepreneurial ecosystems},
	year = {2024},
	eissn = {2053-4612},
	pages = {977-998},
	orcid-numbers = {Becsky-Nagy, Patrícia/0000-0002-3928-7606; Fazekas, Balázs/0000-0003-4303-1184}
}

@article{MTMT:34841696,
	title = {Accelerate or brake?—The connection of credit gaps and economic disequilibrium},
	url = {https://m2.mtmt.hu/api/publication/34841696},
	author = {Fazekas, Balázs and Póta, Cserne Panka and Becsky-Nagy, Patrícia},
	doi = {10.1002/jsc.2570},
	journal-iso = {STRAT CHANGE},
	journal = {STRATEGIC CHANGE: SC},
	volume = {33},
	unique-id = {34841696},
	issn = {1086-1718},
	abstract = {Credit supply shocks significantly aggravate the impact of economic recessions. Understanding the underlying reasons why credit market shocks occur and detecting the market turbulences in time can give a decision support tool for the economic policy to intervene more efficiently on the market and to reduce the effect of economic downturns. The goal of the current article is to investigate the factors that signal possible credit shocks by analyzing the quarterly data of 17 European countries over the period 1995–2021. The focus of the article is on the credit given to the nonfinancial corporations. In our analysis, we have built on the credit gap methodology by determining the deviations of the lending activity from its trend, and then we have modeled these credit gaps using fundamental macroeconomic indicators, such as the balance of the current account, the ratio of short‐ and long‐term capital investments and government debt. Our conclusion is that in the presence of fundamental disequilibrium in the economy excessive lending creates positive credit gaps that increase the chance of negative credit market shocks. According to our new findings, the existing credit gap methodology can be improved by incorporating real economic factors; slowing long‐term capital investment and increasing the deficit of the current account signal the emergence of a credit gap. We found significant regional heterogeneity as in Southern European countries, and the credit gaps were more substantial. Among the investigated macroeconomic factors, the governmental indebtedness was especially high in these countries suggesting that countries with high public debt rates are more prone to develop credit gaps.},
	year = {2024},
	eissn = {1099-1697},
	pages = {139-150},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184; Becsky-Nagy, Patrícia/0000-0002-3928-7606}
}

@CONFERENCE{MTMT:35022158,
	title = {Where is the eXIT? – The case of Hungarian JEREMIE venture capital investments},
	url = {https://m2.mtmt.hu/api/publication/35022158},
	author = {Fazekas, Balázs and Becsky-Nagy, Patrícia},
	booktitle = {"Fenntartható Gazdaság – Fenntartható Társadalom" Nemzetközi Tudományos Konferencia – 30 éves a debreceni közgazdasági és üzleti felsőoktatási képzés = "Sustainable Economy – Sustainable Society" International Scientific Conference – Celebrating 30 Years of Economics and Business Higher Education in Debrecen},
	unique-id = {35022158},
	year = {2024},
	pages = {20},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184; Becsky-Nagy, Patrícia/0000-0002-3928-7606}
}

@CONFERENCE{MTMT:35623092,
	title = {Differences in Entrepreneurship Intentions and Actions - Evidence from Hungary},
	url = {https://m2.mtmt.hu/api/publication/35623092},
	author = {Becsky-Nagy, Patrícia and Fazekas, Balázs},
	booktitle = {"Fenntartható Gazdaság – Fenntartható Társadalom" Nemzetközi Tudományos Konferencia – 30 éves a debreceni közgazdasági és üzleti felsőoktatási képzés = "Sustainable Economy – Sustainable Society" International Scientific Conference – Celebrating 30 Years of Economics and Business Higher Education in Debrecen},
	unique-id = {35623092},
	year = {2024},
	pages = {38},
	orcid-numbers = {Becsky-Nagy, Patrícia/0000-0002-3928-7606; Fazekas, Balázs/0000-0003-4303-1184}
}

@CONFERENCE{MTMT:35708642,
	title = {Hogyan szállnak ki befektetéseikből a kockázati tőkések? - A magyar JEREMIE befektetések tapasztalatai},
	url = {https://m2.mtmt.hu/api/publication/35708642},
	author = {Fazekas, Balázs and Becsky-Nagy, Patrícia},
	booktitle = {I. Gaál Zoltán Konferencia Absztraktkötet},
	unique-id = {35708642},
	year = {2024},
	pages = {18-19},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184; Becsky-Nagy, Patrícia/0000-0002-3928-7606}
}

@article{MTMT:34399162,
	title = {A mozgóátlagokra épülő kereskedési stratégiák sikerességének vizsgálata a nagy kapitalizációjú vállalatok példáján keresztül},
	url = {https://m2.mtmt.hu/api/publication/34399162},
	author = {Tóth, Balázs Levente and Fazekas, Balázs},
	doi = {10.47282/economica/2023/14/3-4/13490},
	journal-iso = {ECONOMICA (SZOLNOK)},
	journal = {ECONOMICA (SZOLNOK)},
	volume = {14},
	unique-id = {34399162},
	issn = {1585-6216},
	abstract = {A vizsgálat az indikátorok jelzései általi kereskedés, azon belül pedig a mozgóátlag kereszteződésein alapuló stratégiát vette górcső alá. A kutatás egyik fő iránya az egyszerű és az exponenciális mozgóátlagot felhasználó crossover stratégia közti hatékonyságbeli különbségek feltárása volt, továbbá a trendirányú kereskedés hatása az indikátorok teljesítményére. A kutatás a legnagyobb tőzsdei kapitalizációval rendelkező cégek példáján keresztül teszteli az indikátorok teljesítményét. A dolgozat főbb következtetése, hogy a vizsgált részvények esetében nem volt domináns indikátor, valamint a vizsgált, dominánsan emelkedő trendet követő időszakban a buy&hold stratégia felülmúlta az indikátorok alapján történő aktív kereskedés stratégiáját.},
	year = {2023},
	eissn = {2560-2322},
	pages = {34-42},
	orcid-numbers = {Fazekas, Balázs/0000-0003-4303-1184}
}

@inproceedings{MTMT:32736232,
	title = {Fintech cégek rendszerkockázati szempontú elemzése},
	url = {https://m2.mtmt.hu/api/publication/32736232},
	author = {Becsky-Nagy, Patrícia and Póta, Cserne Panka and Fazekas, Balázs},
	booktitle = {Magyar Nemzeti Bank - Debreceni Egyetem kutatási konferencia Fenntartható gazdaság Versenyképesség és digitalizáció},
	unique-id = {32736232},
	year = {2022},
	pages = {25-45},
	orcid-numbers = {Becsky-Nagy, Patrícia/0000-0002-3928-7606; Fazekas, Balázs/0000-0003-4303-1184}
}