TY - JOUR AU - Becsky-Nagy, Patrícia AU - Fazekas, Balázs TI - What women want? – Role of higher education in shaping female entrepreneurship JF - REGIONAL STATISTICS J2 - REG STAT VL - 15 PY - 2025 IS - 1 SP - 208 EP - 233 PG - 26 SN - 2063-9538 DO - 10.15196/RS150202 UR - https://m2.mtmt.hu/api/publication/35075953 ID - 35075953 LA - English DB - MTMT ER - TY - JOUR AU - Fazekas, Balázs AU - Becsky-Nagy, Patrícia TI - Where is the EXIT? - The Exit Characteristics of Venture Capital Through the Case of Hungarian JEREMIE Investments JF - MONTENEGRIN JOURNAL OF ECONOMICS J2 - MONTEN J ECON VL - 22 PY - 2025 IS - 2 SP - 45 EP - 56 PG - 12 SN - 1800-5845 UR - https://m2.mtmt.hu/api/publication/35616144 ID - 35616144 AB - 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. LA - English DB - MTMT ER - TY - GEN AU - Fazekas, Balázs TI - Hitelpiaci túlfűtöttség és recesszió – A hitelrések és a gazdasági egyensúlytalanság kapcsolata [konferencia előadás] PY - 2025 UR - https://m2.mtmt.hu/api/publication/36161956 ID - 36161956 LA - Hungarian DB - MTMT ER - TY - JOUR AU - Becsky-Nagy, Patrícia AU - Fazekas, Balázs TI - Spurring entrepreneurship with public venture capital in developing industries – evidence from Hungary JF - JOURNAL OF ENTREPRENEURSHIP IN EMERGING ECONOMIES J2 - JEEE VL - 16 PY - 2024 IS - 4 SP - 977 EP - 998 PG - 22 SN - 2053-4604 DO - 10.1108/JEEE-06-2022-0167 UR - https://m2.mtmt.hu/api/publication/33643986 ID - 33643986 LA - English DB - MTMT ER - TY - JOUR AU - Fazekas, Balázs AU - Póta, Cserne Panka AU - Becsky-Nagy, Patrícia TI - Accelerate or brake?—The connection of credit gaps and economic disequilibrium JF - STRATEGIC CHANGE: SC J2 - STRAT CHANGE VL - 33 PY - 2024 IS - 3 SP - 139 EP - 150 PG - 12 SN - 1086-1718 DO - 10.1002/jsc.2570 UR - https://m2.mtmt.hu/api/publication/34841696 ID - 34841696 AB - 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. LA - English DB - MTMT ER - TY - CONF AU - Fazekas, Balázs AU - Becsky-Nagy, Patrícia ED - Dajnoki, Krisztina ED - Szenderák, János ED - Erdey, László ED - Fenyves, Veronika TI - Where is the eXIT? – The case of Hungarian JEREMIE venture capital investments T2 - "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 PB - Debreceni Egyetem Gazdaságtudományi Kar C1 - Debrecen SN - 9789634906247 PY - 2024 SP - 20 UR - https://m2.mtmt.hu/api/publication/35022158 ID - 35022158 LA - English DB - MTMT ER - TY - CONF AU - Becsky-Nagy, Patrícia AU - Fazekas, Balázs ED - Dajnoki, Krisztina ED - Szenderák, János ED - Erdey, László ED - Fenyves, Veronika TI - Differences in Entrepreneurship Intentions and Actions - Evidence from Hungary T2 - "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 PB - Debreceni Egyetem Gazdaságtudományi Kar C1 - Debrecen SN - 9789634906247 PY - 2024 SP - 38 UR - https://m2.mtmt.hu/api/publication/35623092 ID - 35623092 LA - English DB - MTMT ER - TY - CONF AU - Fazekas, Balázs AU - Becsky-Nagy, Patrícia ED - Fehérvölgyi, Beáta ED - Obermayer, Nóra ED - Csizmadia, Tibor TI - Hogyan szállnak ki befektetéseikből a kockázati tőkések? - A magyar JEREMIE befektetések tapasztalatai T2 - I. Gaál Zoltán Konferencia Absztraktkötet PB - Pannon Egyetem C1 - Veszprém SN - 9789633962893 PY - 2024 SP - 18 PG - 1 UR - https://m2.mtmt.hu/api/publication/35708642 ID - 35708642 LA - Hungarian DB - MTMT ER - TY - JOUR AU - Tóth, Balázs Levente AU - Fazekas, Balázs TI - A mozgóátlagokra épülő kereskedési stratégiák sikerességének vizsgálata a nagy kapitalizációjú vállalatok példáján keresztül JF - ECONOMICA (SZOLNOK) J2 - ECONOMICA (SZOLNOK) VL - 14 PY - 2023 IS - 3-4 SP - 34 EP - 42 PG - 9 SN - 1585-6216 DO - 10.47282/economica/2023/14/3-4/13490 UR - https://m2.mtmt.hu/api/publication/34399162 ID - 34399162 AB - 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. LA - Hungarian DB - MTMT ER - TY - CHAP AU - Becsky-Nagy, Patrícia AU - Póta, Cserne Panka AU - Fazekas, Balázs ED - Fenyves, Veronika TI - Fintech cégek rendszerkockázati szempontú elemzése T2 - Magyar Nemzeti Bank - Debreceni Egyetem kutatási konferencia Fenntartható gazdaság Versenyképesség és digitalizáció PB - Debreceni Egyetem Gazdaságtudományi Kar CY - Debrecen SN - 9789634904014 PY - 2022 SP - 25 EP - 45 PG - 21 UR - https://m2.mtmt.hu/api/publication/32736232 ID - 32736232 LA - Hungarian DB - MTMT ER -