Financial factors affecting profitability and employment growth: the case of Greek manufacturing

Creating a Business Competitiveness Index: An Application to Greek Manufacturing Firms

“…Spanos, Zaralis, and Lioukas (2004), using census data, found that firm factors in the form of strategy pursued, explain twice more the profit variability of firms, than do industry factors. Notta, Vlachvei, and Samathrakis (2010) examined the competitiveness of the food and beverages sector in the Greek environment, using profitability and growth as separate independent variables, to investigate the relative importance of firm and industry factors for the time span of 2003-2007. Other studies on Greek firms investigated the effect of financial variables on profitability and growth separately (Agiomirgianakis, Voulgaris, & Papadogonas, 2006;Asimakopoulos, Samitas, & Papadogonas, 2009;Eriotis & Vassiliou, 2007;Voulgaris, Papadogonas, & Agiomirianakis, 2005).…”

Identifying factors affecting firm performance: the role of exporting activity on Greek industry

“…A rather indicative value is the growth in gross sales, as it implies market dynamism, increased share and strong competitive advantage, that may indicates high profitability (if the production cost is low). As for the factors affecting growth, a variety of variables have been used by many surveys; investment activity (net fixed assets) is considered to be a source of motive power for firms, increasing longrun growth and employment (Chirinko, 1993;Voulgaris et al, 2005) and affect positively cash flow and profitability (Agiomirgiannakis et al, 2006;Eriotis et al, 2002). Innovative activity through the expenses for research and development (R&D), or by acquiring of know-how (intellectual property rights), seems also to affect growth and economic performance [Autio and Parhankangas, (1998), p.120;Delapierre et al, (1998), p.990;Ferguson and Olofsson, (2004), p.5;Kafouros, (2005), p.492;Makris, 2007Makris, , 2008.…”

“…Innovative activity through the expenses for research and development (R&D), or by acquiring of know-how (intellectual property rights), seems also to affect growth and economic performance [Autio and Parhankangas, (1998), p.120;Delapierre et al, (1998), p.990;Ferguson and Olofsson, (2004), p.5;Kafouros, (2005), p.492;Makris, 2007Makris, , 2008. Furthermore, firm's size and age seem to contribute to economic growth, either positively (Agiomirgiannakis et al, 2006;Voulgaris et al, 2005), or negatively [Bartjokas, 2001;Giudici and Paleari, 2000;Voudouris et al, (2000), p.669]. Some additional factors that are referred in literature as explanatory variables of growth, are profitability, location of the plant (urban rural, etc.…”

“…However, again, the methodology followed by researchers is rather differentiated. Many surveys classify exports as 1 (= exports) and 0 (= non-exports) (see indicatively, Agiomirgiannakis et al, 2006;Baldwin and Gu, 2003;Bleaney and Wakelin, 2002;Filatotchev et al, 2009;Liargovas and Scandalis, 2008). On the other hand, Bernard and Jensen (1999), and Bernard andWagner (1997, in Castellani, 2002) in their surveys, measured exports status by a binary variable too, adding however some other characteristics as dummy variables, in order to succeed better results.…”

What Drives International Competitiveness? An Empirical Test in Emerging Indonesian Market

“…Competitiveness that once was abstract now has become a famous object for the quantitative analysis. Return on Asset, Return on Equity and Return on Sales started to be acknowledged as the ideal measurements for competitive advantage (Becker-Blease et al, 2005;Merikas et al, 2006;Agiomirgiannakis et al, 2006;Bobillio et al, 2006;Laisasikorn & Rompho, 2014).…”