Filter
Disable filtering
  • Research fields
  • Research year
  • Related documents
Google search
Research
20 of June, 2016Research
The use of fringe benefits among Hungarian companies

In its ongoing analysis of Hungarian companies, the Institute for Economic and Enterprise Research (IEER) examined the practices relating to the use of fringe benefits among domestic enterprises. The analysis is based on the data of the April 2016 Business Climate survey of 1,771 domestic enterprises employing at least one person; they were questioned in relation to the non-wage benefits they provide. The results show that 55% of companies with a minimum of one employee provided at least one form of fringe benefits in 2016, the most popular non-wage benefits being considered were local travel allowances and the Erzsébet vouchers (food coupons, but sometimes used for non-food purchases). The use of fringe benefits is associated with a company's size, the economic sector it operates in, and its level of foreign ownership, as well as a firm’s business situation: the highest proportion of those that provide fringe benefits are typically medium and large sized companies, those that are foreign-owned, firms operating in the manufacturing sector, and those in a good business situation. For 83% of responding companies, the amount allocated to fringe benefits has not changed over the past year, while for 7% it declined compared to the previous year, and 11% reported that it increased. Those raising fringe benefits were characteristically those in a good business situation and those companies that lifted wages in 2015. Overall, domestic enterprises consider the role of fringe benefits as having a medium effect when making their company attractive to employees.

Read more >>>

14 of June, 2016Research
Late payments and debt queues among Hungarian companies

A recent analysis from the Institute for Economic and Enterprise Research (IEER) of the Hungarian Chamber of Commerce and Industry (HCCI) examined the experiences of late payment and debt queues of domestic enterprises. The results are based on data from the IEER January 2016 Quarterly Business Climate Survey during which we asked 400 domestic enterprises about the topic. The results show that 81% of businesses had at least one business partner that paid late in 2015, while 45% of respondents themselves owed to their suppliers at least once in the period under review. The highest proportion of late payments was among small businesses and the construction sector. From the combined results of the last few years, though, it appears that the situation of companies in terms of late payments has improved: the number of business partners paying late has declined on average as well as the amounts outstanding. The proportion of companies that could not pay their suppliers on time at least once because of a late payment by their customers is also in decline, as well as, compared to previous years, the proportion of respondents who feel that the debt queue problem is worsening.

Read more >>>

3 of February, 2016Research
Plans for wage rises in the private sector, 2016

In the course of its latest business climate survey HCCI Institute for Economic and Enterprise Research (IEER) examined potential changes in wages in the year 2016. According to our estimation enterprises plan raising gross salaries by 3.0-3.2%. This is an average wage growth, which slightly exceeds last year’s increase.

Read more >>>

9 of December, 2015Research
Internet usage of Hungarian firms

In our following brief analysis we examine for what purposes domestic enterprises generally use the internet. Our analysis is based on data from the business climate survey conducted by the Institute for Economic and Enterprise Research (IEER) in October 2015.

The data show that the highest proportion of firms surveyed use the internet for administration (e.g. the Hungarian version of an electronic civil service portal called “Ugyfelkapu” or “Client Gateway”), email correspondence with customers, and to follow market trends. Just over half of the analyzed companies have their own website, which is explained by the large number of micro businesses employing fewer than 10 people. The computer systems themselves along with the security of the stored information and the modern state of the technology were all regarded to be very important by the companies.

Read more >>>

22 of September, 2015Research
Online articles on debt queues – frequency and context

In our analysis we examine articles dealing with the subject of debt queues and how they changed over time as well as their context. The data used is derived from the online content analysis software Textplore (http://textplore.org/) developed by IEER. In our database there are 607 articles from 2002 or later which contains at least one of the terms ("debt queue", "debt circle" or "late payment") and appears in one of the following portals: fn.hu, hetivalasz.hu, hir24.hu, hvg.hu, index.hu, mno.hu, origo.hu, vg.hu.

Read more >>>

20 of April, 2015Research
Results of the IEER SME Outlook (Quarterly 2013-2014) regarding the effect of Funding for Growth Scheme on investment activity of the SME sector

Within the framework of the SME Outlook research, since January 2005 the HCCI Institute for Economic and Enterprise Research (IEER) conducts a quarterly analysis of the situation of small and medium sized enterprises, their short-term prospects, as well as the economic and institutional factors affecting this business group. For this project a total of 300 companies operating within the fields of manufacturing, construction and services are surveyed and the data is analysed in every quarter. The structure of the sample remains the same from quarter to quarter, with the companies surveyed representing the economic performance and sector distribution of small and medium sized enterprises in Hungary.

On June 1, 2013, the National Bank of Hungary (NBH) announced the Funding for Growth Scheme (FGS; in Hungarian: Növekedési Hitelprogram - NHP), the aim of the program was to support small and medium-sized enterprises in accessing forint- denominated loans, to strengthen financial stability, and to reduce external vulnerability of the Hungarian economy. The FGS consists of three pillars. Under the fist pillar the NBH provided collateralized refinancing loans to its monetary policy counterparties up to a total amount of HUF 425 billion. Under the second pillar the NBH provided refinancing loans to convert foreign currency loans of small and medium-sized enterprises into forint loans up to a total amount of HUF 325 billion. (Under the third pillar the NBH helped credit institutions to reduce their external foreign currency liabilities via FX swaps).

In this report we present the results of four SME Outlook quarterly surveys (October 2013, January 2014, April 2014 and October 2014), which covers in totally 1505 small and medium sized enterprises. In those quarterly SME Outlook surveys the leaders of small and medium-sized enterprises were asked about bank loans and the FGS by the HCCI Institute for Economic and Enterprise Research (IEER).

The results show that nearly 60% of small and medium-sized enterprises had some form of bank loan. The most common type of credits was working capital loan (including bank loans) during each survey period. Results show that companies that export a maximum of 50% of their whole production were the most likely to have a loan, as well as companies with expectation of investment change.

During the four waves of the survey companies hold mostly forint-denominated loans and around 30% of companies had a euro-based loan. Euro-based loan was mainly used by export-oriented companies, manufacture sector companies and medium-sized companies.

Generally every fifth SME applied for loan under the FGS. Over all periods of the survey, investment loans and working capital loans were the most demanded. More and more companies with positive opinion about current business situation were willing to apply for loan under the FGS, while companies with negative opinion were less likely to do so.

Read more >>>

23 of March, 2015Research
Loans and the Loans for Growth Program (NHP) at Hungarian SMEs

Within the framework of the “SME Outlook” research, since January 2005 the HCCI Institute for Economic and Enterprise Research (IEER) conducts a quarterly analysis of the situation of small and medium sized enterprises, their short-term prospects, as well as the economic and institutional factors affecting this business group. For this project a total of 300 companies operating within the fields of manufacturing, construction and services are surveyed and the data is analysed in every quarter. The structure of the sample remains the same from quarter to quarter, with the companies surveyed representing the economic performance and sector distribution of small and medium sized enterprises in Hungary.

On June 1, 2013, the National Bank of Hungary launched the Loans for Growth Program (NHP), albeit the details of the program had been known several months earlier. For the October 2014 SME Outlook survey the leaders of small and medium-sized enterprises were asked about bank loans and the NHP Program by the IEER.

The results show that 56% of small and medium-sized enterprises have some form of bank loan. The most common type of credit is working capital loan (including bank loans). Companies hold mostly forint-denominated loans.

Euro-based loan is the most common foreign currency loan and mainly used by export-oriented companies, companies in the manufacturing sector and medium-sized firms.

Every fifth company among SMEs have applied for loan under the Loans for Growth Program (NHP). More than half of the companies were interested in working capital loans. Every second company applied for a loan up to 50 million forints. The overall opinion of SMEs is that there are no major changes in the terms of access to loans during the period 2013 and 2014.

Read more >>>

30 of January, 2015Research
The implementation of wage compensation in the private sector

The wage compensation policy helped to offset the negative effect on employment of expected wage increases. The IEER study presents the effects on employment due to the legislative changes of 2012 using data from the National Labour Centre’s Wage Survey and the Hungarian Labor Market Forecast.

Read more >>>

7 of March, 2014Research
Hungarian companies about the free-trade agreement between the USA and the EU

Rather sectorial benefits

The HCCI Institute for Economic and Enterprise Research conducted a survey in 2013 to size up how the Hungarian enterprises conceive the proposed free-trade agreement between the USA and the European Union. A significant part of the respondents think that the emergence of the agreement will less affect their own companies, however it will have more positive effects on the economic sector they operate in.

Read more >>>

20 of October, 2010Research
Recession: Perspective of Enterprises (March 2010)

The survey on the perspective of enterprises about the recession had been repeated for the third time by the Institute for Economic and Enterprise Research.We provide analysis not only on the general characteristics of enterprises and different indicators of conjecture, but also on borrowings, foreign currency risks and financial disciplines of enterprises and the preventive actions they took in order to avoid the negative effects of the recession. Moreover, we had interest in mapping the internet usage habits at Hungarian enterprises. The three datasets are available free of charge at the following web addresshttp://www.ola.gvi.hu/.

The results of the analysis revealed that the Hungarian enterprises did not change their developed techniques and actions in order to avoid the negative effects of the recession. Companies with foreign ownership share and export-oriented companies are usually very adaptive to the new conditions than other companies. Also, there is a strong correlation between the business situation and the adaptation skills: the worse the business situation of an enterprise the broader the range of techniques it adapts to avoid the worst case scenario.

The analysis also reveals that one part of the enterprises were so extensively affected by the recession that they were technically forced to find every possible way to reduce the negative effects. Favorable business situation thereby facilitates long-term strategic planning and action, while bad business situation makes short-term downsizing and production restraint more probable. We also tried to prove our surmise that those companies who use internet actively will be more likely to have a faster recovery from the recession but this hypotheses could not be fully tested and measured by solely relying on data about the business situation of enterprises.

The findings based on the three datasets were presented in English at CIRET Conference, Economic Tendency Surveys and the Services Sector on the 14thOctober 2010. See also (https://www.ciret.org/conferences/newyork_2010).The analysis, the power point slides and the survey of the research (from March and June) can be found and downloaded in the appendix.

Read more >>>