The global economic crisis has caused many drastic changes in operation of the global banking sys... more The global economic crisis has caused many drastic changes in operation of the global banking system. However, Islamic banking considered to be an emerging force presenting stability and growth. Purpose of this study are the measurement of stability and comparison of Islamic and conventional banks in Gulf Cooperation Council’s (GCC) and the Middle East & North Africa’s (MENA) countries. New evidence about determinants of performance and risk of Islamic banks vs. conventional banks exists. The research is based on financial data of 144 banks from 16 countries where Islamic and conventional banking institutions operate, for the time period 2003 – 2012, which is divided into two sub-periods: pre- crisis (2003-2007) and post- crisis (2008-2012) in order to investigate the effect of the economic crisis on the stability of Islamic banking institutions.
The purpose of this study is to measure the efficiency of the banking industry in the Middle East... more The purpose of this study is to measure the efficiency of the banking industry in the Middle East and North Africa (MENA) region and to investigate its effect on capitalisation and risk during the period: 2003–2012. The study, based on banks’ financial data, attempts to present new evidence on the relationship between efficiency, capital and risk of MENA region’s banking industry, using external and internal to the firm factors and panel data econometric modelling. This is the first study that investigates the relationships between efficiency, capital and risk in banking industry of MENA region. The results indicate that bank capitalisation is positively related to efficiency and profitability and negatively to size, amount and quality of loans and risk measured with Altman’s Z-score. Efficiency and risk are also negatively related. The findings can lead to policy implications for banks’ managers in order to facilitate the increase institutions in this region.
There are contradicting results on the effect of enterprise resource planning (ERP) adoption to t... more There are contradicting results on the effect of enterprise resource planning (ERP) adoption to the profitability of firms. International evidence suggests that ERP systems are one of the important drivers of a firm's successful performance and competitiveness. The objective of this study is to empirically investigate the impact of ERP systems on firm performance of enterprises operating in Greece under economic crisis conditions. Our sample consists of 88 firms ERP adopters and non-adopters comparing their performance with the use of ROA, ROS and ATO metrics for a period of ten years (2001-2011). The findings suggest that the performance of ERP adopters is superior to that of the non-adopters and that there exists a significant relation between firm size and financial health of ERP adopters with respect to ROA, ROS and ATO.
International Journal of Society Systems Science, 2016
The agri-food sector is an important sector for Greece and can contribute to the startup of the G... more The agri-food sector is an important sector for Greece and can contribute to the startup of the Greek economy. Therefore, the study covering the period 2004-2011, before and after the 2008 financial crisis in Greece, attempts to investigate the drivers of competitiveness in agricultural firms of Greece in the pre and post financial crisis era and detect differences among the two periods. Using a three-stage methodology, it is attempted to examine the hypotheses of this empirical study. OLS method is used in order to examine the relationship between efficiency, competitiveness and subsidies in agri-firms. The originality of this study is the investigation of the determinants of firm competitiveness measuring it with a competitiveness index and presenting differences between pre-crisis and post-crisis period. In addition, the correlation between efficiency, exports and subsidies on firm competitiveness is examined. The findings of this study have implications for practitioners, managers and policy makers.
Http Dx Doi Org 10 1080 15475778 2014 929921, Aug 15, 2014
ABSTRACT The purpose of this article is to construct a composite index that reflects firm level c... more ABSTRACT The purpose of this article is to construct a composite index that reflects firm level competitiveness. The index is used to classify firms in terms of their competitiveness. The study proceeds in identifying the critical factors that influence competitiveness of firms. The research is undertaken on a sample of 980 firms from five important sectors of Greek manufacturers. The period of the study is 1996–2011, covering the pre- and post-economic crisis in Greece. Econometric modeling is used to identify the firm level competitiveness index and the critical factors of firm competitiveness. The findings can help managers, practitioners, and State officials to reinforce the competitive position of firms through the use of appropriate policies and strategies.
In the knowledge-based and globalized economy, information provides value to firms and Informatio... more In the knowledge-based and globalized economy, information provides value to firms and Information Technology (IT) is the mechanism through which this can be achieved. Firms that exploit endless possibilities of IT obtain the capacity to overcome future challenges. This study focuses on Greek manufacturing SMEs that face an extremely competitive and unfriendly macro environment. The performance of IT investments of Greek SMEs is examined through a survey-based methodology covering the time period of 2004-2010, derived into two sub-periods (pre and post crisis period). Financial and qualitative (primary) longitudinal data are used to examine the impact of IT investments on financial performance during the last eight years. Additionally, the relationship between firm profitability and European IT in-vestment subsidies along with other factors such as crisis, leverage, size, are examined. Using structural equation modelling, the results indicate that Greek SMEs with higher IT investments present higher profitability than their rivals, while IT investment subsidies affect positively firms’ performance. As SMEs are the backbone of national economy, their competitiveness plays a significant role to national development and growth. Therefore, the findings of this research are important for practitioners, managers and policy makers.
Considering the fundamental role played by small and medium enterprises (SMEs) and especially fro... more Considering the fundamental role played by small and medium enterprises (SMEs) and especially from agricultural sector in the Greek economy and the considerable attention placed on factors associated with firms' effectiveness. The purpose of this study is to investigate the performance level of Greek agricultural firms during a period of economic turbulence on evidence from Greek agricultural firms and comparing with the period before the eruption of financial crisis. Little research has been carried out related to efficiency of agricultural firms especially for all regions (Floros et al., 2014). This empirical research using a sample data of 251 Greek agricultural SMEs, covering the time period of 2004-2011, measures the firm level technical efficiency of firms with the use of DEA analysis. The analysis classified firms according to their size into micro, small and medium. In addition, using DEA analysis it is attempted to rate the regions of Greece based on their firm efficiency. Further, financial ratios such as ROA, Market Share, Leverage, Liquidity, DEA scores, Fixed Assets/total Assets, Total sales/total assets, % Change in Sales are used in order to examine the financial performance of firms during pre-crisis period and post-crisis period. The results indicating that very small (micro) agricultural firms are more efficient during 2004-2011. In addition, it seems that Greek agricultural firms are less profitable and competitive in the post-crisis period, while they face lack of liquidity because of the economic turbulence of the country. Moreover, the eruption of financial crisis has impact on firm-level efficiency of Greek agricultural SMEs.
The global economic crisis has caused many drastic changes in operation of the global banking sys... more The global economic crisis has caused many drastic changes in operation of the global banking system. However, Islamic banking considered to be an emerging force presenting stability and growth. Purpose of this study are the measurement of stability and comparison of Islamic and conventional banks in Gulf Cooperation Council’s (GCC) and the Middle East & North Africa’s (MENA) countries. New evidence about determinants of performance and risk of Islamic banks vs. conventional banks exists. The research is based on financial data of 144 banks from 16 countries where Islamic and conventional banking institutions operate, for the time period 2003 – 2012, which is divided into two sub-periods: pre- crisis (2003-2007) and post- crisis (2008-2012) in order to investigate the effect of the economic crisis on the stability of Islamic banking institutions.
The purpose of this study is to measure the efficiency of the banking industry in the Middle East... more The purpose of this study is to measure the efficiency of the banking industry in the Middle East and North Africa (MENA) region and to investigate its effect on capitalisation and risk during the period: 2003–2012. The study, based on banks’ financial data, attempts to present new evidence on the relationship between efficiency, capital and risk of MENA region’s banking industry, using external and internal to the firm factors and panel data econometric modelling. This is the first study that investigates the relationships between efficiency, capital and risk in banking industry of MENA region. The results indicate that bank capitalisation is positively related to efficiency and profitability and negatively to size, amount and quality of loans and risk measured with Altman’s Z-score. Efficiency and risk are also negatively related. The findings can lead to policy implications for banks’ managers in order to facilitate the increase institutions in this region.
There are contradicting results on the effect of enterprise resource planning (ERP) adoption to t... more There are contradicting results on the effect of enterprise resource planning (ERP) adoption to the profitability of firms. International evidence suggests that ERP systems are one of the important drivers of a firm's successful performance and competitiveness. The objective of this study is to empirically investigate the impact of ERP systems on firm performance of enterprises operating in Greece under economic crisis conditions. Our sample consists of 88 firms ERP adopters and non-adopters comparing their performance with the use of ROA, ROS and ATO metrics for a period of ten years (2001-2011). The findings suggest that the performance of ERP adopters is superior to that of the non-adopters and that there exists a significant relation between firm size and financial health of ERP adopters with respect to ROA, ROS and ATO.
International Journal of Society Systems Science, 2016
The agri-food sector is an important sector for Greece and can contribute to the startup of the G... more The agri-food sector is an important sector for Greece and can contribute to the startup of the Greek economy. Therefore, the study covering the period 2004-2011, before and after the 2008 financial crisis in Greece, attempts to investigate the drivers of competitiveness in agricultural firms of Greece in the pre and post financial crisis era and detect differences among the two periods. Using a three-stage methodology, it is attempted to examine the hypotheses of this empirical study. OLS method is used in order to examine the relationship between efficiency, competitiveness and subsidies in agri-firms. The originality of this study is the investigation of the determinants of firm competitiveness measuring it with a competitiveness index and presenting differences between pre-crisis and post-crisis period. In addition, the correlation between efficiency, exports and subsidies on firm competitiveness is examined. The findings of this study have implications for practitioners, managers and policy makers.
Http Dx Doi Org 10 1080 15475778 2014 929921, Aug 15, 2014
ABSTRACT The purpose of this article is to construct a composite index that reflects firm level c... more ABSTRACT The purpose of this article is to construct a composite index that reflects firm level competitiveness. The index is used to classify firms in terms of their competitiveness. The study proceeds in identifying the critical factors that influence competitiveness of firms. The research is undertaken on a sample of 980 firms from five important sectors of Greek manufacturers. The period of the study is 1996–2011, covering the pre- and post-economic crisis in Greece. Econometric modeling is used to identify the firm level competitiveness index and the critical factors of firm competitiveness. The findings can help managers, practitioners, and State officials to reinforce the competitive position of firms through the use of appropriate policies and strategies.
In the knowledge-based and globalized economy, information provides value to firms and Informatio... more In the knowledge-based and globalized economy, information provides value to firms and Information Technology (IT) is the mechanism through which this can be achieved. Firms that exploit endless possibilities of IT obtain the capacity to overcome future challenges. This study focuses on Greek manufacturing SMEs that face an extremely competitive and unfriendly macro environment. The performance of IT investments of Greek SMEs is examined through a survey-based methodology covering the time period of 2004-2010, derived into two sub-periods (pre and post crisis period). Financial and qualitative (primary) longitudinal data are used to examine the impact of IT investments on financial performance during the last eight years. Additionally, the relationship between firm profitability and European IT in-vestment subsidies along with other factors such as crisis, leverage, size, are examined. Using structural equation modelling, the results indicate that Greek SMEs with higher IT investments present higher profitability than their rivals, while IT investment subsidies affect positively firms’ performance. As SMEs are the backbone of national economy, their competitiveness plays a significant role to national development and growth. Therefore, the findings of this research are important for practitioners, managers and policy makers.
Considering the fundamental role played by small and medium enterprises (SMEs) and especially fro... more Considering the fundamental role played by small and medium enterprises (SMEs) and especially from agricultural sector in the Greek economy and the considerable attention placed on factors associated with firms' effectiveness. The purpose of this study is to investigate the performance level of Greek agricultural firms during a period of economic turbulence on evidence from Greek agricultural firms and comparing with the period before the eruption of financial crisis. Little research has been carried out related to efficiency of agricultural firms especially for all regions (Floros et al., 2014). This empirical research using a sample data of 251 Greek agricultural SMEs, covering the time period of 2004-2011, measures the firm level technical efficiency of firms with the use of DEA analysis. The analysis classified firms according to their size into micro, small and medium. In addition, using DEA analysis it is attempted to rate the regions of Greece based on their firm efficiency. Further, financial ratios such as ROA, Market Share, Leverage, Liquidity, DEA scores, Fixed Assets/total Assets, Total sales/total assets, % Change in Sales are used in order to examine the financial performance of firms during pre-crisis period and post-crisis period. The results indicating that very small (micro) agricultural firms are more efficient during 2004-2011. In addition, it seems that Greek agricultural firms are less profitable and competitive in the post-crisis period, while they face lack of liquidity because of the economic turbulence of the country. Moreover, the eruption of financial crisis has impact on firm-level efficiency of Greek agricultural SMEs.
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