Economic efficiency of Greek retail SMEs in a period of high fluctuations in economic activity: a DEA approach

Balios, Dimitris; Eriotis, Nikolaos; Fragoudaki, Alexandra; Giokas, Dimitriοs

doi:10.1080/00036846.2015.1019033

Cited by 30 publications

(28 citation statements)

References 37 publications

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“…The change in the unemployment rate (X 4 ) can reflect the utilization of the labor force over a certain period and is an important indicator of the degree of economic prosperity [33]. The ratio of retail sales of social consumption goods in GDP (X 5 ) reflects the level of consumption, demand for which can reflect the effects of purchasing power on economic growth [34][35][36].…”

Section: Sustainable Development Indicator Systemmentioning

confidence: 99%

FinTech and Sustainable Development: Evidence from China Based on P2P Data

2019

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In the current international context, the ways in which financial technology (FinTech) affects sustainable development need to be urgently identified. However, relevant studies are rare and there is no consensus on the optimal indicator system for sustainable development. Therefore, this study proposes an indicator system to evaluate sustainability and conducts in-depth analysis of the relationship between FinTech and sustainable development based on data of peer-to-peer platforms (P2P) in 31 Chinese provinces. The empirical results show the existence of a U-shaped relationship between FinTech and sustainable development, mainly determined by the pattern of extensive economic growth. Furthermore, heterogeneity analysis indicates that there are significant regional differences in its impact on sustainable development, being significant in China’s eastern and central regions and insignificant in the western region; moreover, the impact on the central region is significantly higher than that on the eastern region. Our research not only has strong practical significance but also contributes significantly to the literature on FinTech and sustainable development.

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Section: Sustainable Development Indicator Systemmentioning

confidence: 99%

FinTech and Sustainable Development: Evidence from China Based on P2P Data

2019

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“…In behaving so, it is remarked that the Malaysian office is not a lonely case because similar tendencies can be established in other developing nations. Furthermore, Balios et al (2015) also take regional approach to distributive trade, studying the economic efficiency of the Greek retail sector with a focus on small and medium-sized enterprises, before and after the crisis that started in 2008. With the diligence of the Data Envelopment Analysis (DEA), they break down the impact on the efficiency of retail companies in GDP growth, before and after the recession, in different areas.…”

Section: Distributive Trade and Economic Growthmentioning

confidence: 99%

“…First, studies exploring the impact of distributive trade on economic growth are scarce. They mainly deal with the impact of distributive trade or retail on other macroeconomic performance indicators, such as productivity and employment, or with the impact of foreign trade on economic growth, with primary focus on one or several economies (Williams, 1997;Schneider, 2005;Hendrik & Lewer, 2007;Ruhiiga, 2011;Benazić, 2014;Balios, Eriotis, Fragoudaki, & Giokas, 2015;Di Berardino, D'Ingiullo, & Sarra, 2017). Second, the European Union institutions emphasize the importance of distributive trade, in particular the retail sector, for the efficient single market and overall economic and societal growth.…”

Section: Introductionmentioning

confidence: 99%

Distributive Trade and Economic Growth: Eu28 Evidence for the Period 2008-2015

Mladenović

Cuzovic

2019

Journal of Business Economics and Management

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The purpose of this paper is to appoint the causality between economic activity in the sector of distributive trade and the economic growth of 28 European Union nations. Specifically, it examines the impact of changes in turnover per employee in the distributive trade sector in EU member states on the tangible economic growth rate. The determination to adopt this approach stems from the fact that existing studies mainly explore indirect relationship between economic activities in distributive trade and economic development, with less focus on the direct impact of distributive trade on economic growth. The paper utilizes information for the period from 2008 to 2015. The research relies on multiple regression model, with the Hausman test its robustness. The results indicate that a hike in turnover per employee in the distributive trade sector by 10 euros per year in one EU member state increases its real economic growth rate by 0.15% in that same year. The significance of the made results is reflected in the fact that the survey takes into account the last economic crisis, and highlights negative effects of final consumption expenditure of general government % GDP on the tangible economic growth rate in EU member states.

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“…Capital structure theory begins with the Modigliani and Miller (1958) paradox of "capital structure irrelevance", where firm value is not affected by its financing mix. Since then, corporate finance literature has grown enormously and basically distinguishes between two main theoretical approaches (Balios et al, 2015):…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…Within this line of studies, there are several prospects of investigation: agency costs of equity and agency costs of debt. In this respect, precious are the studies of Scott (1977), Ang et al (1982), Pettit and Singer (1985), van der Wijst (1989), Harris and Raviv (1990), Ang (1991Ang ( , 1992, Holmes and Kent (1991), Psillaki (1995), Michaelas et al (1999), Boot and Thakor (2000), Watson and Wilson (2002), Hall et al (2004), Sogorb-Mira (2005), Daskalakis and Psillaki (2008), Frank and Goyal (2009), Psillaki and Daskalakis (2009), and Balios et al (2015).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Expected cost of financial distress in small and medium-sized enterprises (SMEs): A German-Italian comparison

Quintiliani¹

2018

Afr. J. Bus. Manage.

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This study aims to identify a number of qualitative and quantitative elements that affect financial distress costs between Italian and German small and medium-sized enterprises (SMEs). We propose a model that interprets "expected costs" as the product between "expected financial distress likelihood" and "total amount of financial distress costs due to insolvency". The model is estimated using panel data methodology on samples from two European countries (Italy and Germany). The results indicate that expected costs depend on the use of derivative financial instruments, use of intangible assets and the relation with local banks (small local banks rather than large banking groups); in particular, the results obtained from crosscountry comparison shows that German SMEs (or Mittelstand companies) have characteristics that limit financial distress costs. It should be emphasized that the present work limits its field of investigation to a few variables without fully addressing other elements of uncertainty which may adversely affect the expected cost of financial distress in SMEs. This work will be useful to stimulate debate on policies to support SMEs. The originality of this study is to focus on determinants of financial distress in SMEs using panel data methodology.

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Economic efficiency of Greek retail SMEs in a period of high fluctuations in economic activity: a DEA approach

Cited by 30 publications

References 37 publications

FinTech and Sustainable Development: Evidence from China Based on P2P Data

FinTech and Sustainable Development: Evidence from China Based on P2P Data

Distributive Trade and Economic Growth: Eu28 Evidence for the Period 2008-2015

Expected cost of financial distress in small and medium-sized enterprises (SMEs): A German-Italian comparison

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