6th Annual Conference of the EuroMed Academy of Business
Confronting Contemporary Business Challenges through Management Innovation
Edited by:
Demetris Vrontis, Yaakov Weber, Evangelos Tsoukatos
Published by: EuroMed Press
6th EuroMed Conference of the EuroMed Academy of Business
CONFERENCE READINGS BOOK PROCEEDINGS
September 23rd-24th, 2013 Estoril, Cascais, Portugal
Confronting Contemporary Business Challenges through Management Innovation
Copyright © The materials published in this Readings Book may be reproduced for instructional and noncommercial use. Any use for commercial purposes must have the prior approval of the Executive Board of the EuroMed Research Business Institute (EMRBI). All full papers and abstracts submitted to the EMRBI Conference are subject to a peer reviewing process, using subject specialists selected because of their expert knowledge in the specific areas.
ISBN: 978-9963-711-16-1
Published by: EuroMed Press
6th Annual EuroMed Conference of the EuroMed Academy of Business
3
FOREWORD The Annual Conference of the EuroMed Academy of Business aims to provide a unique international forum to facilitate the exchange of cuttingedge information through multidisciplinary presentations on examining and building new theory and business models for success through management innovation. It is acknowledged that the conference has established itself as one of the major conferences of its kind in the EuroMed region, in terms of size, quality of content, and standing of attendees. Many of the papers presented contribute significantly to the business knowledge base. The conference attracts hundreds of leading scholars from leading universities and principal executives and politicians from all over the world with the participation or intervention of Presidents, Prime Ministers, Ministers, Company CEOs, Presidents of Chambers, and other leading figures. This year the conference attracted over 250 people from over 65 countries. Academics, practitioners, researchers and Doctoral students throughout the world submitted original papers for conference presentation and for publication in this Book. All papers and abstracts were double blind reviewed. The result of these efforts produced empirical, conceptual and methodological papers and abstracts involving all functional areas of business.
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
4
ACKNOWLEDGEMENT Many people and organizations are responsible for the successful outcome of the 6th Annual Conference of the EuroMed Academy of Business. Special thanks go to the Conference Chair Professor Vitor Ambrosio, the Conference Organising Committee and the Faculty of Estoril Higher Institute for Tourism and Hotel Studies, in Portugal, for accomplishing an excellent job. It is acknowledged that a successful conference could not be possible without the special co-operation and care of the Track Chairs and Reviewers for reviewing the many papers that were submitted to this conference. Special thanks to the Session Chairs and Paper Discussants for taking the extra time to make this conference a real success. The last but not the least important acknowledgment goes to all those who submitted and presented their work at the conference. Their valuable research has highly contributed to the continuous success of the conference.
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
5
TABLE OF PAPERS ANALYZING BASIC COMPONENTS OF PRODUCTION COST IN GREEK SHEEP AND GOAT FARMS ..................................................................................................................................... 26 Aggelopoulos, S.1; Tsiouni, M.2; Pavloudi, A.3; Chioteris, C.4 ............................................................................ 26
FACTORS INFLUENCING THE DECISION-MAKING PROCESS OF THE NEW WINE CONSUMERS....................................................................................................................................... 40 Agnoli, Lara1; Capitello, Roberta2; Begalli, Diego3.............................................................................................. 40
DO FEMALE MANAGEMENT DECISIONS IN CRISIS TIMES DIFFER FROM MALE DECISIONS? AN EXPLORATORY STUDY .................................................................................... 53 Alonso Almeida, María del Mar1; Bremser,Kerstin2 ........................................................................................... 53
THE INTERRALATED EFFECTS OF CULTURE AND RELATIONSHIP QUALITY ON THE RELATIONS BETWEEN PORTUGUESE EXPORTERS AND ANGOLAN DISTRIBUTORS. .. 65 Alves, Gisela Maria Maia1; Correia de Barros, António2; Raposo, Mário Lino Barata3 ...................................... 65
PARTNER SELECTION IN CO-OPETITION: A THREE STEP MODEL .................................... 92 Alves, João1; Meneses, Raquel2 ............................................................................................................................ 92
CORPORATE FINANCIAL DISTRESS AND BANKRUPTCY: A COMPARATIVE ANALYSIS IN FRANCE, ITALY AND SPAIN .................................................................................................. 107 Amendola, Alessandra 1; Restaino, Marialuisa2; Sensini, Luca3 ....................................................................... 107
SPANISH SAVINGS BANKS: AN ANALYSIS OF THEIR PERFORMANCE .......................... 121 Bachiller, Patricia1; Lasa, Francisco-de-Borja2 .................................................................................................. 121
COMPENSATION-BASED SKILLS DEVELOPMENT APPLIED TO MANUFACTURING EMPLOYEES: A CASE STUDY IN QUEBEC ................................................................................ 130 Beaupré, Daniel................................................................................................................................................. 130
TOWARD A LUXURY BRAND DEFINATION ............................................................................ 143 Becker, Kip1; Nobre, Helena2 ............................................................................................................................. 143
AN
INTEGRATIVE
APPROACH
OF
ONLINE
TRUST
ANTECEDENTS
AND
CONSEQUENCES ON PURCHASE INTENTION ....................................................................... 158 Ben Mansour, Kaouther1; Kooli, Kaouher2; Utama, Rizky3 .............................................................................. 158
GENERATIONAL DIFFERENCES AND EMPLOYER BRANDING SEGMENTATION ....... 175 Bendaravičienė, Rita1; Krikštolaitis, Ričardas2; Bakanauskienė, Irena3............................................................. 175
COMPARING THE PERFORMANCE OF FAMILY CONTROLLED BUSINESSES AND NONFAMILY CONTROLLED BUSINESSES DURING THE CRISIS IN ITALY ............................... 197 Bertoldi, Bernardo1; Branca, Stefano2; Giachino, Chiara3 ................................................................................. 197
ONLINE LABORATORY FOR LEARNING ACCOUNTING IN PRACTICE – AN IDEA AND IMPLEMENTATION ........................................................................................................................ 211 Białek Jaworska, Anna1; Gabryelczyk,Renata2 ................................................................................................. 211
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
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COMPARISON OF POLISH AND BULGARIAN PREFERENCES OF TEACHING TOOLS IN THE ACCOUNTING FIELD AND THEIR DETERMINANTS ................................................... 230 Białek Jaworska, Anna1; Yaneva, Dafina2; Żukowski, Marek3 .......................................................................... 230
DIFFERENCE IN VALUATION AS AT THE BALANCE SHEET DATE USED BY THE NEWCONNECT LISTED COMPANIES ........................................................................................ 251 Białek Jaworska, Anna1; Yaneva, Dafina2; Drązikowska, Katarzyna3 ............................................................... 251
THE PRINCIPLE OF KNOWLEDGE MANAGEMENT AND THE NEW MODEL OF THE ORGANIZATION IN THE KNOWLEDGE-BASED ECONOMY .............................................. 268 Bică, Gheorghe1; Constantinescu, Mădălina2; Baltă, Corneliu3 ........................................................................ 268
ARE CONSUMERS OF HEALTHY FOOD ECOLOGY MINDED AS CONSUMERS OF HEALTHIER FOOD IN ISRAEL?.................................................................................................... 287 Bijaoui, Ilan1; Dayanzada, Dana2; Vdee, Hadar3............................................................................................... 287
ENTREPRENEURSHIP AND "CLUSTERIZATION PROCESS" IN THE TOURISM AND AGRICULTURE SECTOR ................................................................................................................ 299 Bijaoui, Ilan1; Regev, David2............................................................................................................................. 299
CONCEPTUALIZING,
VISUALIZING
AND
MEASURING
CORRUPTION,
STATE
CAPTURE AND THEIR IMPACT IN ITALY. ............................................................................... 319 Borgonovi, E.1; Esposito, P.2 ............................................................................................................................. 319
THE IMPACT OF LACK OF COOPERATION BETWEEN MUNICIPALITIES AND ACADEMIC ORGANIZATIONS ON ECONOMIC DEVELOPMENT IN SLOVAKIA .......... 353 Borseková, Kamila; Petríková, Katarína2; Vaňová, Anna.................................................................................. 353
“THEORETICAL FRAMEWORK ON PUBLIC PRIVATE PARTNERSHIP AND SERVICE CONCESSION ARRANGEMENT, BEFORE AND AFTER IFRIC 12 ADOPTION.
A
RESEARCH NOTE: EVIDENCE IN SUBSTANCE FROM ITALY”............................................ 372 Braja, E.M.1; Campra, M.2; Esposito, P.3; Ricci, P.4 ....................................................................................... 372
FACING A FINANCIAL CRISIS – THE CASE OF SPANISH RESTAURANTS ...................... 412 Bremser, Kerstin1; Alonso-Almeida, María del Mar2........................................................................................ 412
THE APPROACH OF FAMILY BUSINESSES IN THE LUXURY INDUSTRY ......................... 422 Bresciani, Stefano1; Bertoldi, Bernardo2; Giachino, Chiara3; Ferraris, Alberto4 ................................................ 422
THE INTERNATIONALIZATION OF R&D ACTIVITIES TO ASIAN DEVELOPING COUNTRIES ....................................................................................................................................... 434 Bresciani, Stefano1; Thrassou, Alkis2; Vrontis, Demetris3 ............................................................................... 434
COST OF EQUITY CAPITAL IN PRIVATE COMPANIES ......................................................... 445 Britzelmaier, Bernd1; Schlegel, Dennis2; Vardanyan, Lilit3 .............................................................................. 445
MECHANISMS
OF
(DE)CERTIFICATION:
UNDERSTANDING
HOW
CONFLICTS
UNFOLD IN ORGANIZATIONS ................................................................................................... 472 Brodeur , Louis-François................................................................................................................................... 472
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
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INTEGRATION OF FASTER PLATFORM INTO EDUCATION PROCESS OF ECONOMIC INFORMATION SYSTEMS .............................................................................................................. 496 Bucko, Jozef1; Vejačka, Martin2 ......................................................................................................................... 496
THE EMERGENCE OF HRM TOOLS IN R&D PROJECTS AT COMPETITIVENESS CLUSTERS: ANALYSIS AND INSIGHTS IN THE LIGHT OF ACTOR-NETWORK THEORY .............................................................................................................................................................. 508 Calamel, L.1; Sanseau P. Y.2.............................................................................................................................. 508
CARBON DISCLOSURE SCORE AS A PROXY OF CORPORATE ENVIRONMENTAL PROACTIVITY: A CROSS-CULTURAL ANALYSIS .................................................................... 523 Calza, Francesco1; Cannavale, Chiara2; Tutore, Ilaria3 ..................................................................................... 523
THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND BUSINESS MODEL CHOICE IN FAMILY FIRMS: IS THERE A MISSING LINK IN FAMILY BUSINESS STUDIES? .............................................................................................................................................................. 538 Casprini, Elena1; D’Antone, Simona2; Paranque, Bernard3; Pucci, Tommaso4; Zanni, Lorenzo5..................... 538
THE ROLE OF ART IN LUXURY MANAGEMENT .................................................................... 554 Chailan, Claude................................................................................................................................................. 554
THE GOVERNANCE OF ‘COLLECTIVE’ STRATEGIES FOR INTERNATIONALIZATION: SMALL BUSINESSES IN THE ITALIAN WINE SECTOR .......................................................... 560 Ciasullo, Maria1; Festa, Giuseppe2 .................................................................................................................... 560
THE IMPACT OF FACEBOOK PRESENCE ON BRAND IMAGE ............................................ 579 Coelho, Joana1; Nobre, Helena2; Becker, Kip3 .................................................................................................... 579
BRANDING OF SUSTAINABLE CLOTHING .............................................................................. 594 Coleman, Bethany; D’Souza, Clare ................................................................................................................... 594
THE INTERNATIONALIZATION STRATEGIES OF ITALIAN COMPANIES IN INDIA ... 609 Cortili, Massimo1; Pisoni, Alessia2; Onetti, Alberto3 ........................................................................................ 609
HEALTH LEAN MANAGEMENT AND CLINICAL RISK MANAGEMENT: A SYSTEMATIC LITERATURE REVIEW .................................................................................................................... 626 Crema, Maria1; Verbano, Chiara2...................................................................................................................... 626
CAN COOPETITION BE A WINNING STRATEGY FOR SMALL FRUITS PRODUCTION COMPANIES IN SICILY?................................................................................................................. 641 Crescimanno, Maria1; Farruggia, Domenico2; Galati, Antonino3; Schimmenti, Emanuele4; Siggia, Dario5 .... 641
COMPETITIVENESS OF ITALIAN WINES ON THE NTERNATIONAL MARKET ............. 653 Crescimanno, Maria1; Galati, Antonino2 .......................................................................................................... 653
MANAGEMENT
ACCOUNTING
CHANGES
TOWARD
RISK
MANAGEMENT.
IMPLICATIONS FOR MANAGEMENT ACCOUNTANTS ....................................................... 672 Culasso, Francesca1; Broccardo, Laura2; Manzi, Luca Maria3; Truant, Elisa4.................................................. 672
FAMILY
ITALIAN
LISTED
FIRMS:
COMPARISON
IN
PERFORMANCES
AND
IDENTIFICATION OF TWO MAIN CONFIGURATIONS ......................................................... 701 Confronting Contemporary Business Challenges Through Management Innovation
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Culasso, Francesca1; Manzi, Luca Maria2; Broccardo, Laura3; Giacosa, Elisa4 ................................................. 701
RELATIONSHIP QUALITY DRIVES AND OUTCOMES: A SYSTEMATIC LITERATURE REVIEW APPROACH ...................................................................................................................... 731 Cunha, Namércio1; Loureiro, Sandra Maria Correia2; Rego, Arménio3 ............................................................ 731
MEASURING CUSTOMER PERCEPTION AND SATISFACTION IN INTERNET BANKING, SCALE DEVELOPMENT AND VALIDATION ............................................................................ 759 Datta, Saroj K. 1; Sukanya, Kundu2 .................................................................................................................. 759
UNAUTHORISED BUILDING AND FINANCIAL RECOVERY OF URBAN AREAS: EVIDENCES FROM CASERTA AREA ........................................................................................... 783 De Biase, Claudia1; Forte, Fabiana2................................................................................................................... 783
ENTREPRENEURSHIP, VENTURE CAPITAL, AND THE VALUATION OF FIRMS IN MATURITY STAGE .......................................................................................................................... 799 Delgado, Madalena1; Pereira, Renato2; Dias, Álvaro3..................................................................................... 799
THE CHALLENGE OF ENGAGING ORGANIZATIONAL DIVERSITY IN DIVIDED SOCIETIES: THE CASE OF ETHNICALLY MIXED NURSES' TEAMS .................................... 816 Desivilya Syna, Helena1; Raz, Michal2 ............................................................................................................. 816
A BUSINESS STRATEGY DEVELOPMENT FRAMEWORK FOR SMES.................................. 835 Elshamly, A.B.M1; Davies, Barry2; GEAR, Tony3; Verschueren, R.B.4 ............................................................ 835
“BACK TO THE FUTURE: THE VIRTUAL MUSEALIZATION IN PUBLIC MANAGEMENT. A RESEARCH NOTE FROM ITALY” ............................................................................................ 857 Esposito, P......................................................................................................................................................... 857
PPP AND PUBLIC WORKS LAW IN FRANCE ........................................................................... 868 Evangelatou, Konstantina1; Maniatis, Antonios2 ; Manoliadis, Odysseas3 ...................................................... 868
THE EFFECT OF MACROECONOMIC VARIABLES ON EXCHANGE RATE VOLATILITY .............................................................................................................................................................. 880 Evripidou, Loukia.............................................................................................................................................. 880
PORTUGUESE FIRM’S MOTIVATIONS AND DECISION FACTORS TO PARTICIPATE IN INTERNATIONAL TRADE FAIRS ................................................................................................. 908 Freitas Santos, Jose1; Mendonça da Silva, Pedro Bruno2 .................................................................................. 908
EVALUATING THE GUIMARÃES 2012 EUROPEAN CAPITAL OF CULTURE (ECOC): A TOURIST PERCEPTION APPROACH........................................................................................... 930 Freitas Santos, Jose 1; Vareiro, Laurentina 2 ; Remoaldo, Paula 3 ; Cadima Ribeiro, J. 4 ................................... 930
UNDERSTANDING THE HRM – PERFORMANCE LINK IN PROFESSIONAL ERVICE FIRMS: A MULTI-LEVEL PERSPECTIVE ...................................................................................... 951 Fu, Na1; Flood, Patrick2 .................................................................................................................................... 951
THE DYNAMIC OF WINE SUPPLY AND PRICE FORMATION IN CHIANTI CLASSICO DENOMINATION ............................................................................................................................ 960 Gaeta, Davide1; Corsinovi, Paola2 ..................................................................................................................... 960
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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AN ANALYSIS OF WORK COST IN COMPANIES LISTED ON THE FTSE MIB .................. 975 Giacosa, Elisa1; Giovando, Guido2 .................................................................................................................... 975
A MODEL OF EFFECTIVE RECOVERY FOR ITALIAN COMPANIES TO OVERCOME THE FINANCIAL CRISIS .......................................................................................................................... 996 Giacosa, Elisa1; Mazzoleni, Alberto2 ................................................................................................................. 996
SERVICE FAIRNESS, SERVICE QUALITY AND RELATIONSHIP QUALITY EVALUATION EFFECTS ON CUSTOMER LOYALTY ......................................................................................... 1028 Giovanis, Apostolos1; Athanasopoulou, Pinelopi2; Tsoukatos, Evangelos3 ..................................................... 1028
FROM OFFSHORE OUTSOURCING PROVIDER TO OWN BRAND MANUFACTURER: AN EXPLORATORY APPROACH USING RESULTS FROM THE PORTUGUESE FOOTWEAR INDUSTRY ....................................................................................................................................... 1047 Gomes, Paulo1; Meneses, Raquel2 ................................................................................................................... 1047
CROWDSOURCING FOR DUBAI APPAREL NDUSTRY- - MIRAGE OR A REALITY? ..... 1066 Grandhi, Balakrishna1; Singh, Jyothsna Appaiah2; Gupta, Mani3; Kaur, Jasveen4; Seth, Rahul5 ................... 1066
A GROUNDED THEORY OF PERPETUAL RATIFYING. PUTTING LIFELONG LEARNING STRATEGIES INTO PRACTICE FOR BUSINESS COMPETITIVENESS ................................. 1081 Green, Jan ....................................................................................................................................................... 1081
VARIANCES ANALYSIS OF THE FREE CASH FLOWS TO FIRM AND ITS IMPACT ON THE FINANCIAL STRUCTURE. SPARE PARTS MANUFACTURERS IN THE ITALIAN AUTOMOTIVE INDEPENDENT AFTER MARKET IN THE 2008-2011 PERIOD. ................ 1095 Guelfi, Silvano ................................................................................................................................................ 1095
ORGANISATIONAL CULTURE AND THE VALUE PRIORITISATION OF A FIRM’S INTELLECTUAL CAPITAL: TOWARDS A CONCEPTUAL FRAMEWORK........................ 1115 Gupta, Uma1; Massa, Nathaniel P.2; Azzopardi, Joseph 2 ............................................................................... 1115
EXAMINING
THE
SEGMENTATION
AND
POSITIONING
STRATEGIES
FOR
UNIVERSITIES IN CYPRUS. ......................................................................................................... 1128 Hadjiphanis, Lycourgos1; Evripidou, Loukia2; Chourides, Pieris3................................................................... 1128
SOCIAL ASPECTS OF CORPORATE GOVERNANCE ............................................................. 1148 Kachala, T. M.1; Berezina, O. Y.2 .................................................................................................................... 1148
HERITAGE PPP LAW AND MANAGEMENT .......................................................................... 1162 Kalogirou, Sofia1 Maniatis, Antonios2 ........................................................................................................... 1162
KNOWLEDGE-INTENSIVE STRATEGIES IN LOW-TECH SECTORS DURING THE CRISIS: THE CASE OF THE GREEK WOOD AND FURNITURE SECTOR ......................................... 1174 Karagouni, Glykeria1; Tsakanikas, Aggelos2 ................................................................................................... 1174
PRODUCTION TECHNOLOGIES AND INNOVATION IN KNOWLEDGE-INTENSIVE LOW-TECH VENTURES: EVIDENCE FROM THE GREEK WOOD AND FURNITURE INDUSTRY ....................................................................................................................................... 1196 Karagouni, Glykeria1; Caloghirou, Yannis2 .................................................................................................... 1196
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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UNIVERSITY- INDUSTRY COLLABORATION A THEORETICAL FRAMEWORK ........... 1214 Khodabandehloo, Akbar ................................................................................................................................... 1214
NETWORKING FOR REGIONAL DEVELOPMENT: A CASE STUDY .................................. 1228 Khodabandehloo, Akbar ................................................................................................................................... 1228
THE ADOPTION, APPLICATION AND IMPACT OF SOCIAL MEDIA IN FASHION MARKETING ................................................................................................................................... 1244 Kontu, Hanna1; Vecchi, Alessandra2 ............................................................................................................... 1244
MEDIATING IMPACT OF “TRUST” IN THE RELATIONSHIP BETWEEN E-SERVICE QUALITY & CUSTOMER SATISFACTION IN THE CONTEXT OF INTERNET BANKING ............................................................................................................................................................ 1254 Kundu, Sukanya ............................................................................................................................................. 1254
METRO CASH & CARRY UKRAINE: CHANGING HR STRATEGY IN LINE WITH BUSINESS STRATEGY ................................................................................................................... 1275 Kurdes, Nataliia .............................................................................................................................................. 1275
EMPIRICAL STUDY FINDINGS OF FOREIGN LANGUAGE ADAPTATION OF THE INDIAN BUSINESS PROCESSING AGENTS AND EFFECTIVE COMMUNICATION AT A TRANSNATIONAL WORK PLACE ............................................................................................ 1282 Kyriakidou, Niki1; Stewart, Jim2; Bobade, Anita P.3 ....................................................................................... 1282
MARKETING AND ORGANIZATIONAL LEARNING – EXPLORING THE CONNECTIONS ............................................................................................................................................................ 1296 Lagrosen, Stefan .............................................................................................................................................. 1296
THE ROLE OF CULTURAL AND SOCIAL NORMS ON INTRAPRENEURSHIP IN LITHUANIA .................................................................................................................................... 1309 Laužikas,
Mindaugas1;
Vaiginienė,
Erika2;
Rosinaitė,
Vikinta3;
Miliūtė,
Aistė4;
Batulevičiūtė,
Skaistė ;Dailydaitė, Simona .......................................................................................................................... 1309 5
6
MERGERS AND ACQUISITIONS WERE NOT A SOLUTION TO THE LIQUIDITY AND CAPITAL REQUIREMENTS OF GREEK BANKING SECTOR ................................................ 1331 Liargovas, Panagiotis1; Repousis, Spyridon2................................................................................................... 1331
ANALYSING RISKS ASSOCIATED WITH EXTERNAL QUALITY ASSESSMENT IN HIGHER EDUCATION: A CASE STUDY ON ROMANIAN HIGHER EDUCATION SYSTEM ............................................................................................................................................................ 1340 Lisievici, Petru ................................................................................................................................................ 1340
CORPORATE SOCIAL RESPONSIBILITY AND STAKEHOLDER STRATEGIES:
THE
IMPACT IN RISK MANAGEMENT ............................................................................................. 1348 Lizarzaburu, Edmundo R.* ............................................................................................................................. 1348
Z – ALTMAN REVIEW. THE CASE OF BEVERAGE COMPANY IN LATAM ..................... 1361 Lizarzaburu, Edmundo R.1; Berggrun, Luis2; Ostos, Jhony3 .......................................................................... 1361
EXPLORING THE ANTECEDENTS OF BRAND EQUITY IN SERVICE INDUSTRY ......... 1384 Confronting Contemporary Business Challenges Through Management Innovation
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Loureiro, Sandra Maria Correia1; Filipe, Yesica2; Pires, Ana Regina3 ............................................................ 1384
INVESTIGATING THE IMPACT OF INTERNET USAGE AND ACCEPTANCE ON ACTIVE AGEING AMONG OLDER ADULTS........................................................................................... 1398 Macedo, Isabel Maria1; Pinho, José Carlos2; Liao, Mei-Na3 ............................................................................ 1398
CORPORATE GOVERNANCE OF NON-PROFIT ORGANIZATIONS- THEORY AND PRACTICE ........................................................................................................................................ 1407 Malý, Milan1; Kubíček, Aleš2 .......................................................................................................................... 1407
TEMPORALITY IN INTERGENERATIONAL TRANSITION: A PROCESS CASE STUDY OF A SMALL BUSINESS ...................................................................................................................... 1420 Mari, Carlo1; Meglio, Olimpia2 ....................................................................................................................... 1420
RESEARCHING SOCIAL PRACTICES FOR UNDERSTANDING CONSUMPTION .......... 1431 Mari, Carlo ..................................................................................................................................................... 1431
ORGANIZATIONAL
INNOVATION
IMPLEMENTATION
THROUGH
INTER-FIRM
NETWORKS ..................................................................................................................................... 1442 Martin-Rios, Carlos ........................................................................................................................................ 1442
THE SUN CUBE STAKEHOLDER MANAGEMENT SYSTEM FOR M&A DEALS IN PMI (POST-MERGER MANAGEMENT) ............................................................................................. 1456 Martirosyan, Emil1; Vashakmadze, Teimuraz2 ............................................................................................... 1456
INCOME RETURN VS CAPITAL APPRAISAL: A TEST ON THE ITALIAN REAL ESTATE FUNDS .............................................................................................................................................. 1466 Mattarocci, Gianluca1; Siligardos, Georgios2 .................................................................................................. 1466
THE VENTURE CAPITALIST-ENTREPRENEUR RELATIONSHIP. EVIDENCE FROM ITALY ................................................................................................................................................ 1482 Meglio, Olimpia1; Rossi, Matteo2; Capasso, Arturo3 ...................................................................................... 1482
EXPLORING THE IMPLICATION OF JUNGIAN NOTION OF ORGANIZATIONAL PSYCHE: FACEBOOK AS A LIVING ORGANISM ................................................................... 1495 Minulescu, Mihaela ........................................................................................................................................ 1495
LINKING ENTREPRENEURIAL ORIENTATION TO EXPORT PERFORMANCE: THE ROLE OF INTANGIBLE RESOURCES AND DYNAMIC CAPABILITIES ........................................ 1504 Monteiro, Albertina Paula1; Soares, Ana Maria2; Lima Rua, Orlando3 ......................................................... 1504
MEASURING SERVICE QUALITY, BRAND IMAGE, PERCEIVED VALUE, CUSTOMERS’ SATISFACTION AND BEHAVIOURAL INTENTIONS IN THE HOTEL INDUSTRY: A STUDY OF THE HOTELS IN THE NORTH OF PORTUGAL .................................................. 1518 Monteiro, Albertina Paula1; Veloso, Cláudia Miranda2 .................................................................................. 1518
MANAGING INTERNATIONAL BUSINESS CONSTRAINTS THROUGH CORPORATE DIPLOMACY: AN ILLUSTRATIVE CASE STUDY................................................................... 1533 Monteiro, Rui Manuel Ribeiro1; Raquel Filipa do Amaral Chambre de Meneses Soares Bastos Moutinho2 .. 1533
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
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THE MANAGING AND STAGING OF FOOTBALL MATCHES IN THE ENGLISH PROFESSIONAL FOOTBALL INDUSTRY: AN EVENT LIFECYCLE APPROACH ............. 1549 Moore, Neil1; Stokes, Peter2 ............................................................................................................................ 1549
MANAGERIAL APPROACH TO CULTURAL PPP .................................................................. 1572 Moschogianni, Meropi1; Gratsani, Athina2 .................................................................................................... 1572
STICKY BEHAVIOR OF SELLING, GENERAL, AND ADMINISTRATIVE COSTS AND EARNINGS MANAGEMENT
PRACTICES: AN INTERNATIONAL COMPARATIVE
PERSPECTIVE .................................................................................................................................. 1585 Naoum, Vassilios - Christos ............................................................................................................................ 1585
DESIRABLE CODE OF CORPORATE GOVERNANCE FOR NON-LISTED COMPANIES – AN EXPERIENCE FROM PAKISTAN ......................................................................................... 1597 Nazar, Mahreen1; Nishat, Mohammed2 .......................................................................................................... 1597
INVOLVEMENT OF ENTERPRISES AND SECTORS OF ECONOMY IN THE DESIGNING AND IMPLEMENTATION OF THE NATIONAL QUALIFICATIONS FRAMEWORK: EXPERIENCE OF LITHUANIA .................................................................................................... 1611 Nazelskis, Eugenijus1; Tūtlys,Vidmantas2 ...................................................................................................... 1611
AN INTUITIONISTIC FUZZY APPROACH FOR AUTOMATIC EVALUATION AND COMPARISON OF ONLINE TEST ANSWERS .......................................................................... 1646 Netov, Nikolay Chudomirov1; Tisheva, Diana2 ............................................................................................... 1646
MULTISKILLING IN THE HOSPITALITY INDUSTRY IN SOUTH AFRICA AND ADJACENT COUNTRIES .............................................................................................................. 1656 Nicolaides, Angelo .......................................................................................................................................... 1656
PPP AND CULTURAL SPONSORSHIP LAW AND MANAGEMENT .................................. 1690 Nikolopoulou, Marina1 Maniatis, Antonios2 ................................................................................................. 1690
GREEN WOODEN FURNITURE. DETERMINATION OF MARKET TRENDS AND TENDENCIES IN GREECE AND CYPRUS DURING ECONOMIC CRISIS .......................... 1701 Papadopoulos, Ioannis 1; Karagouni, Glykeria 2; Trigkas, Marios 3; Beltsiou, Zoi 4........................................ 1701
MARKETING PUBLIC RELATIONS: A CASE STUDY IN THE ADVERTISING SECTOR IN CYPRUS ............................................................................................................................................ 1719 Papasolomou, Ioanna1; Melanthiou, Yioula2; Sabova, Majka ......................................................................... 1719
HUMAN RESOURCE MANAGEMENT: ‘CONTENT’, ‘PROCESSES’, OR ‘PERCEPTIONS’? ............................................................................................................................................................ 1736 Pavlou, Fotis ................................................................................................................................................... 1736
E-COMMERCE AND MOBILE COMMERCE FOR FASHION BUSINESS ............................ 1747 Pereira, Maria Madalena Rocha1; Martins, Paulo Gabriel Correia2; Miguel, Rui Alberto Lopes3; Trindade, Isabel Maria Goncalves4; Lucas, Jose Mendes5 ................................................................................................ 1747
PATTERN-FINDING IN QUALITATIVE DATA - A 17 STEPS PROCEDURE OF MAKING DATA ANALYSABLE .................................................................................................................... 1766 Confronting Contemporary Business Challenges Through Management Innovation
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Philipson, Sarah .............................................................................................................................................. 1766
PRIMARY HEALTH CARE SERVICES EVALUATION IN GREECE ..................................... 1783 Pierrakos, George1; Kyriakidou, Niki2; Yfantopoulos, John3; Goula, Aspasia1; Giovanis, Apostolos1; Latsou, Dimitra1; Sarris, Markos1 ............................................................................................................................... 1783
A STUDY ON ANTECEDENTS AND IMPACTS OF ENGAGEMENT AND PARTICIPATION IN BRAND COMMUNITIES IN PORTUGAL ............................................................................ 1797 Pires, Ana Regina1; Loureiro, Sandra Maria Correia2 .................................................................................... 1797
SUSTAINABLE WINE CONSUMER: MYTH OR REALITY? ................................................... 1816 Pomarici, Eugenio1; Vecchio, Riccardo2 .......................................................................................................... 1816
CRAFT BEER: A CONSUMER PREFERENCE AND SWITCHING PERSPECTIVE ............. 1829 Poponi, Stefano1; Secondi, Luca2; Aquilani, Barbara3 ..................................................................................... 1829
ROLE OF TAXATION IN INVESTMENTS ALLOCATION DECISIONS: USING A GRAVITY APPROACH FOR EXPLORING BILATERAL FDI INTO THE EU .......................................... 1855 Raudonen, Svetlana ........................................................................................................................................ 1855
THE IMPACT OF CHINESE FOREIGN DIRECT INVESTMENT IN SWITZERLAND ........ 1878 Rios-Morales, Ruth; Brennan, Louis; Schweizer, Max ................................................................................... 1878
BIOTECHNOLOGICAL MERGERS AND ACQUISITIONS: AN OVERVIEW ...................... 1899 Rossi, Matteo1; Vrontis, Demetris2; Thrassou, Alkis3 ..................................................................................... 1899
ON THE CONSISTENCY AND LINEARITY OF ASSOCIATIONS BETWEEN NATIONAL CULTURAL DIMENSIONS AND ENTREPRENURIAL INTENTIONS RATES ................... 1911 Rotem, Shneor ................................................................................................................................................. 1911
MANAGING TEAM PERFORMANCE: DISINGENUOUS OR JUST PLAIN STUPID! ....... 1917 Rowland, Caroline1; Scott, Peter2.................................................................................................................... 1917
LESSONS
FROM
THE
PAST:
LIGHTS
AND
SHADOWS
OF
PUBLIC-PRIVATE
PARTNERSHIP IN THE ITALIAN HEALTHCARE SECTOR.................................................. 1936 Russo, Salvatore .............................................................................................................................................. 1936
CLUSTERS – A KEY ELEMENT OF REGIONAL DEVELOPMENT IN ROMANIA ............ 1960 Sabău, Cosmin ................................................................................................................................................ 1960
IMPACT CAPITAL FOR SUSTAINABLE DEVELOPMENT IN THE MEDITERRANEAN REGION ............................................................................................................................................ 1975 Saltini, Tommaso ............................................................................................................................................ 1975
SUPPORTING PROGRAMS TO DEVELOP IMPACT CAPITAL IN THE MEDITERRANEAN REGION ............................................................................................................................................ 1993 Saltini, Tommaso ............................................................................................................................................ 1993
INSIGHTS ON ITALIAN AND INDIAN HEALTH CARE SYSTEMS FROM VSA PERSPECTIVE .................................................................................................................................. 2015 Saviano, Marialuisa1; Parida, Ratri2; Caputo, Francesco3; Datta, Saroj Kumar4 ........................................... 2015
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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ARE PUBLIC PRIVATE PARTNERSHIPS WORTHWHILE? ................................................... 2033 Schein, Andrew ............................................................................................................................................... 2033
THE
MAIN
EFFECTS
OF
GREEN
HARVESTING
ON
THE
SICILIAN
WINE
COOPERATIVES ............................................................................................................................. 2047 Schimmenti, Emanuele1; Crescimanno, Maria2; Borsellino, Valeria3; Galati, Antonino4; Pisano, Gaetano5 .. 2047
THE
CONTRIBUTION
OF
WEB
COMMUNICATION
TO
AGRI-FOOD
SMES’
COMPETITIVENESS. A COMPARISON BETWEEN ITALIAN- AND ENGLISH-LANGUAGE WEBSITES. ........................................................................................................................................ 2063 Scorrano, Paola1; Maizza, Amedeo2; Rosato, Pierfelice3; Gravili, Silvia4 ........................................................ 2063
THE
IMPACT
OF
CONSUMER
LOYALTY
ON
THE
COMPETITIVENESS
AND
SUSTAINABILITY OF PRIVATE LABELS. ................................................................................. 2078 Serra, Elizabeth de Magalhães1; Amorim, Carla Sofia Fonseca 2; Del Rio, Maria Luisa 3................................ 2078
COMPETITIVE ENVIRONMENT AND THE ADOPTION OF CUSTOMER-ORIENTATION BEHAVIOUR: AN EMPIRICAL STUDY. ..................................................................................... 2087 Serra , Elizabeth de Magalhães1; Machado, Simão Nuno2; Gonzalez , Jose Antonio Varela3 .......................... 2087
MUTUALLY BENEFICIAL RELATIONAL VALUE: AN ANTECEDENT OF BUSINESS-TOBUSINESS INNOVATION ............................................................................................................. 2097 Shams, Riad .................................................................................................................................................... 2097
CAN A SOCIAL NETWORK MARKETING STRATEGY BENEFIT SMALL AND MEDIUM ENTERPRISES? ................................................................................................................................ 2118 Silva, Daniela1; Nobre, Helena2; Becker, Kip3 ................................................................................................. 2118
PERCEPTUAL ANTECEDENTS OF VOICE TO VOICE SERVICE ENCOUNTERS AND ITS IMPACT ON CUSTOMER LOYALTY: EVIDENCE FROM A SOUTH ASIAN COUNTRY 2134 Sirisena, Amila Buddhika ............................................................................................................................... 2134
ANTECEDENTS AND CONSEQUENCES OF SURROGATE ADVERTISING – AN EMPIRICAL STUDY IN INDIA..................................................................................................... 2145 Soumi, Paul1; Datta, Saroj Kumar2 ................................................................................................................ 2145
INNOVATION AND SME GROWTH: THE CASE OF PALESTINE ....................................... 2166 Sultan, Suhail Sami ........................................................................................................................................ 2166
CLOUD COMPUTING AND THE WEB: THEIR POTENTIAL DISRUPTION OF THE DIGITAL AND EDUCATION DIVIDE ........................................................................................ 2179 Sultan, Nabil ................................................................................................................................................... 2179
EXPLORING ORGANIZATION’S CHANGE CAPABILITY .................................................... 2199 Swetlik, Ralf1; Sanchez Bengoa, Dolores2 ........................................................................................................ 2199
FACTORS INFLUENCING FUND RAISING: AN EMPIRICAL STUDY ON ITALIAN STARTUPS........................................................................................................................................ 2215 Talaia, Marco1; Pisoni, Alessia2; Onetti, Alberto3........................................................................................... 2215
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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SOCIAL AND PHYSICAL ASPECTS OF THE SERVICE ENCOUNTER: EFFECTS ON TRUST AND CUSTOMER LOYALTY TO THE SERVICE PROVIDER ................................................ 2233 Temessek Behi, Azza1; Ben Dahmen Mouelhi, Norchene²............................................................................... 2233
IS THE GLOBE MODEL USEFUL FOR CROSS-CULTURAL LEADERSHIP RESEARCH? 2250 Teodósio, João Paulo Correia1; Robalo, António da Silva2 ............................................................................... 2250
EMERGING IMPLICATIONS OF THE DEREGULATION OF THE PHARMACY RETAIL SECTOR IN GREECE: THE PHARMACISTS’ PERSPECTIVE ................................................. 2267 Theodoridis, Constantinos1; Priporas, Costantinos-Vasilios2.......................................................................... 2267
ORGANISATIONAL SEQUESTERING OF WORKPLACE BULLYING: ADDING INSULT TO INJURY .............................................................................................................................................. 2281 Thirlwall, Alison ............................................................................................................................................. 2281
MUTUAL RELATIONSHIP OF WINE INDUSTRY VS. WINE TOURISM; THE ISRAELI PERSPECTIVE .................................................................................................................................. 2297 Tirosh, Nathan ................................................................................................................................................ 2297
WORK-FAMILY BALANCE IN CHILDCARE CENTERS: IS SUPPORT RELATED TO PARTICIPATORY MANAGEMENT? .......................................................................................... 2316 Tremblay, Diane-Gabrielle .............................................................................................................................. 2316
RANGELANDS AND REGIONAL DEVELOPMENT: A BIBLIOGRAPHIC APPROACH . 2329 Tsiantikoudis, S1;Arabatzis, G2; Aggelopoulos, S3 .......................................................................................... 2329
COMPARISON OF IFRS AND SLOVAK ACCOUNTING REGULATIONS IN THE AREA OF ACCOUNTING AND RECOGNITION OF NONCURRENT ASSETS .................................... 2338 Tušan, Radoslav1; Bánociová, Anna2; Buleca, Ján3 ......................................................................................... 2338
SIGNIFICANCE OF QUALITY DIMENSIONS IN TOURISM SERVICES AND THEIR IMPACT ON CUSTOMER DECISION-MAKING PROCESS.................................................... 2354 Vajčnerová, Ida1; Ryglová, Kateřina2 .............................................................................................................. 2354
COMPARISON OF SERVQUAL, SERVPERF, BSQ AND BANKQUAL SCALE IN BANKING SECTOR ............................................................................................................................................ 2367 Vanparia, Bhavesh1;Tsoukatos, Evangelos2 ..................................................................................................... 2367
GREEK BANKS’ INTERNATIONAL BEHAVIOUR IN S.E.E. COUNTRIES:
BUSINESS
COMMITMENT AND POLITICAL DIMENSIONS ................................................................... 2393 Vasiliadis, Labros1; Panta, Maria2................................................................................................................... 2393
CHINESE ACQUISITIONS AND THEIR IMPACT ON THE MADE IN ITALY LUXURY SECTOR – ......................................................................................................................................... 2407 Vecchi, Alessandra .......................................................................................................................................... 2407
ANALYZING THE REQUIREMENTS OF AN ON-LINE ACCOUNTING PLATFORM IN GREECE: THE VIEWS OF DIFFERENT USER GROUPS .......................................................... 2422 Venieris, George1; Cohen, Sandra2; Vlismas, Orestes3; Naoum, Vassilios-Christos4; Karatzimas, Sotiris5..... 2422
WHEN WINE MEETS TERRITORY: THE ITALIAN SCENARIO ........................................... 2434 Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
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Vrontis, Demetris1;Viassone, Milena2 ............................................................................................................. 2434
THE INTERNATIONALISATION OF CHINESE FIRMS: BRAND, ENTRY MODE, AND COUNTRY OF ORIGIN OPTIONS ............................................................................................... 2446 Wilson, Ian...................................................................................................................................................... 2446
COLLABORATION COMPETENCE DEVELOPMENT: THE CASE OF BIONIC, LTD ....... 2462 Yeromenko, Galyna ......................................................................................................................................... 2462
A COMPARISON BETWEEN THE PERCEPTIONS OF THE IDEAL LEADER FOR COLOMBIANS AND CHILEANS USING THE LEADERSHIP PRACTICES INVENTORY OF KOUZES AND POSNER ................................................................................................................ 2477 Zárate, Rodrigo1; Matviuk,Sergio2 .................................................................................................................. 2477
EXPLORING THE ROLE OF TRUST IN BUSINESS RELATIONSHIP WITHIN THE CHINESE SHIPBUILDING INDUSTRY ......................................................................................................... 2482 Zhou, Jiangfan1; Sanchez Bengoa, Dolores2 .................................................................................................... 2482
WEB TECHNOLOGY AND BUYERS’ PROFILES ...................................................................... 2494 Zurawicki, Leon .............................................................................................................................................. 2494
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
17
TABLE OF ABSTRACTS FACTORS AFFECTING INNOVATION IN THE HOTEL INDUSTRY .................................. 2503 Afonso, Victor1; Carvalh, Luísa2 ..................................................................................................................... 2503
A REVIEW OF BOYCOTTS AND BRAND LOYALTY IN INTERNATIONAL MARKETING ............................................................................................................................................................ 2504 Al Serhan, Omar1; Sirkeci, Ibrahim2 ............................................................................................................... 2504
LITERARY PORTRAITS OF LISBON: IMAGE AND PROMOTION OF A TOURIST DESTINATION ................................................................................................................................ 2505 Ambrόsio, Vitor1; Matos, Graça2 .................................................................................................................... 2505
MOBILE MARKETING AND SO-LO-MO CONVERGENCE: THE NEW TRENDS IN MARKETING ................................................................................................................................... 2508 Amirkhanpour, Monaliz ................................................................................................................................. 2508
PERCEIVED JUSTICE OF LOYALTY PROGRAM AND CUSTOMER RETENTION: QUANTITATIVE STUDY IN THE CASE OF TUNISIAN MOBILE PHONE SECTOR ......... 2510 Bahri-Ammari, Nedra1; Ben Amor, Senda2..................................................................................................... 2510
COMPREHENSIVE APPROACH TO CRISES MANAGEMENT ............................................. 2513 Balta, Corneliu1; Bica, Gheorghe2; Rosioru, Nicoleta Diana3 .......................................................................... 2513
POLITICAL AND MILITARY ACTION FRAME OF THE EUROPEAN UNION WITHIN THE CRISES MANAGEMENT ............................................................................................................... 2517 Balta, Corneliu1; Bica, Gheorghe2; Stanca, Costel3 .......................................................................................... 2517
MANAGING THE CRISIS IN THE EUROPEAN UNION ........................................................ 2522 Balta, Corneliu1; Stanca, Costel2 ..................................................................................................................... 2522
NEGOTIATORS' ATTITUDES TOWARD FORMAL CONTRACTS: A SEVEN-COUNTRY ANALYSIS ........................................................................................................................................ 2528 Banai, Moshe1; Stefanidis, Abraham2; Schınzel, Ursula3; Shetach, Ana4........................................................ 2528
ESTABLISHING A SUSTAINABLE GROWTH FOR A SME .................................................... 2529 Bertoldi, Bernardo1; Branca, Stefano2 ............................................................................................................. 2529
STATE OF ART ABOUT THE TRADITIONAL, UNIDIRECTIONAL INTERRELATION AMONG
CONSUMPTION
PATTERN
AND
SOCIETAL
AND
CORPORATE
DEVELOPMENT ............................................................................................................................. 2531 Bondrea, Aurelian1; Costea, Carmen-Eugenia2 ............................................................................................... 2531
CHALLENGES FOR EXECUTIVE RECRUITMENT IN THE LIGHT OF THE WAR FOR TALENT IN GERMANY ................................................................................................................ 2535 Buttenberg, Katharina .................................................................................................................................... 2535
PROFITABLE INDEX ON TOURISM PROMOTION ON MADEIRA – A FINANCIAL MODEL ............................................................................................................................................. 2538 Camacho, Élvio José Sousa1; Coelho, Maria Manuela M. S Sarmento2 .......................................................... 2538
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
18
BUSINESS MODEL FOR ASSEMBLE IT YOURSELF FURNITURE RETAILERS –A DEVELOPING ECONOMY PERSPECTIVE ................................................................................ 2539 Chandrasekhar, Natarajan 1; Ostheimer, Bernard2 ......................................................................................... 2539
SOCIAL DISCOURSES TOWARD HEALTHY EATING: EVIDENCE FROM ROMANIA .. 2540 Chrysochou, Polymeros; Festila, Aleksandra .................................................................................................. 2540
SOCIAL MEDIA, PREDICTIVE ANALYTICS, AND TOURISM ............................................. 2542 Claster, William1; Pardo, Phillip2; Cooper, Malcolm3 ..................................................................................... 2542
MANAGEMENT ACCOUNTING SYSTEMS AND SMES: EXPLORING THE EFFECTS OF THE FINANCIAL CRISIS IN GREECE ........................................................................................ 2545 Cohen, Sandra1; Karatzimas, Sotiris2; Naoum, Vassilios-Christos3 ................................................................ 2545
EXPLORING THE DETERMINANTS OF MARKETING INNOVATIVE BEHAVIOURS IN WINE SMES: AN EXPLORATIVE CASE STUDY IN THE APULIAN WINE BUSINESS. ... 2548 Contò Francesco1; Fiore Mariantonietta2; Santini, Cristina3; Silvestri Raffaele4 ............................................ 2548
ACCOUNTABILITY AND DISCOURSE: IDENTITY CONSTRUCTION OF ‘ÁGUAS DE PORTUGAL, S.A.’ ........................................................................................................................... 2549 Costa, Luís1; Menezes, Carlos2; Oliveira, Lídia3 ............................................................................................. 2549
AN INTEGRATED APPROACH TO VALUE BASED INNOVATION ENVIRONMENT CREATED BY CROSS SECTOR STAKEHOLDERS INTERACTION ...................................... 2551 Czarczyńska, Anna ......................................................................................................................................... 2551
AIRLINE
SERVICE
QUALITY
IN
SOUTH
AFRICA
AND
MALAYSIA
-
AN
INTERNATIONAL CUSTOMER EXPERIENCE APPROACH ................................................. 2555 De Jager, Johan1; Van Zyl, D.2; Bin Dahari, Z.3 ............................................................................................. 2555
TRAVELING
TO
RISKY
DESTINATION:
THE
MEDIATING
EFFECTS
OF
RISK
PERCEPTIONS * .............................................................................................................................. 2558 Desivilya Syna, Helena1;Teitler Regev, Sharon2; Shahrabani, Shosh3 ............................................................ 2558
WHY POSITIVE FEEDBACK FOR FUTURE ORGANIZATIONS STRATEGY DESIGN?.... 2561 Doval, Elena1; Negulescu, Oriana2 ................................................................................................................. 2561
BIO-ECONOMY AND BIOECONOMICS. WHAT HAS SOCIAL MARKETING TO DO WITH? ............................................................................................................................................... 2564 Epure, Manuela .............................................................................................................................................. 2564
EXAMINING THE ROLE OF TRUST IN USER PERCEPTIONS OF QUALITYAND SATISFACTION IN THE PUBLIC SECTOR: EMPIRICAL EVIDENCE FROM THE HEALTH SECTOR ............................................................................................................................................ 2568 Esquerdo, Teresa Josefina1; Macedo, Isabel Maria2; Pinho, José Carlos3 ......................................................... 2568
CHILDREN’S CONSUMER SOCIALIZATION: THE ROLE OF MARKETING .................... 2570 Estrela Rui1; Pereira, Francisco Costa2; Bruno, Jorge 3 ................................................................................... 2570
THE INNOVATION BASED ON DYNAMIC CAPABILITIES ................................................. 2572
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
19
Flores, Alejandro ............................................................................................................................................. 2572
ORGANIZATIONAL CHANGE AND INTERCULTURAL MANAGEMENT INTO THE MERGER AND ACQUISITIONS PROCESSES ........................................................................... 2573 Flores, Alejandro1; Bremser, Kerstin2 ............................................................................................................. 2573
EFFICIENCY AND PROFITABILITY: AN APPLICATION OF DEA TO GREEK SMES ..... 2574 Floros, Christos1; Voulgaris, Fotini2; Tsoukatos, Evangelos3 .......................................................................... 2574
TOURIST DESTINATION IMAGE: A STUDY ON LISBON’S DESTINATION IMAGE ...... 2576 Fontes Falcão, Pedro 1; Santos, Dulce2 ............................................................................................................ 2576
WHEN WEST MEETS EAST: COMPARING THE USE OF HIGH PERFORMANCE WORK SYSTEMS BETWEEN IRISH AND CHINESE PROFESSIONAL SERVICE FIRMS ............... 2579 Fu, Na1; Flood, Patrick2; Bosak, Janine3; Qinhai Ma4; Yang Liu5; Yang Zhang6; ........................................... 2579
CANONICAL CORRELATION ANALYSIS AS A CONFIRMATORY METHOD OF PRINCIPAL COMPONENTS ANALYSIS. APPLICATION TO FINANCIAL INFORMATION ............................................................................................................................................................ 2583 Garcia-Gallego, Ana1; Mures-Quintana, Maria-Jesus2; Vallejo-Pascual, M. Eva3 ......................................... 2583
WINESUCCESS® FRAMEWORK: AN EMPIRICAL ASSESSEMENT IN THE FAMILY WINERIES OF CYPRUS ................................................................................................................. 2586 Georgiou, Thoukis ........................................................................................................................................... 2586
THE PORTUGUESE NATIONAL HEALTH SERVICE AND THE IMPLEMENTED ACCOUNTING STANDARDS: THE PROBLEMATIC OF CONSOLIDATED FINANCIAL STATEMENTS ................................................................................................................................. 2590 Gomes, Delfina1; Oliveira, Lídia2; Pedro, Mota e Costa3; Soares, Teresa4 ....................................................... 2590
ORGANISATIONAL JUSTICE IN INTERNATIONAL MERGERS AND ACQUISITIONS: THE IMPACT OF PROCEDURAL AND INTERACTIONAL JUSTICE ON EMPLOYEE COMMITMENT. .............................................................................................................................. 2592 Gomes, Emanuel1; Mellahi, Kamel2; Harvey, Amy3; Sahadev, Sunil4............................................................. 2592
NARCISSISM AND CREATIVITY OVER TIME: TOWARD A DYNAMIC MODEL OF GROUP CREATIVITY..................................................................................................................... 2602 Gonçalo, Jack1; Krause, Verena2 ...................................................................................................................... 2602
CONSUMING THE CITY, SPACES OF CONSUMPTION: COMMODIFYING AND AESTHETICISING CARDIFF’S EVERYDAY LIFE ..................................................................... 2605 Gonçalves, Ana ............................................................................................................................................... 2605
CYPRUS OPTIMAL NATURAL GAS WEALTH MANAGEMENT MODEL. GOVERNMENT PRODUCTION CONSUMPTION (GPC) ..................................................................................... 2608 Homayoon, Morvarid ...................................................................................................................................... 2608
NORMS AND NON-CLASSICAL NEGATIONS ....................................................................... 2611 Iliescu, Gabriel1; Kabbara, Teo2 ....................................................................................................................... 2611
BEYOND THE LIMITS OF CRISIS ................................................................................................ 2616 Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
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20
Ionescu, Eduard1; Costea, Carmen2 ................................................................................................................. 2616
IDEA EXPLOITATION AND VALUE APPROPRIATION: THE EXPERIMENTAL LAB .... 2622 Iscaro, Valentina1; Castaldi,Laura2 ................................................................................................................. 2622
ROMANIAN INTERNATIONAL MIGRATION AND SUSTAINABLE DEVELOPMENT IN RURAL SENDING AREAS: MIGRANT INVESTMENTS IN HOUSES .................................. 2625 Jacob Larionescu, Andra1; Ciotoiu, Iuliana2 .................................................................................................... 2625
LOSING QUALITY ON THE WAY FROM THE MEADOW TO THE CONSUMER’S PLATE ............................................................................................................................................................ 2632 Kaufmann, Hans Ruediger1; Strata, Sonny2; Domenighini, Cecilia3; Novak, Magdalena4; Kessler, Kathleen5 ........................................................................................................................................................................ 2632
SOCIAL ENTERPRISES: PANACEA FOR CRISIS SITUATIONS AND CHANGE? ............. 2637 Kaufmann, Hans Ruediger1; Polycarpou, Marina2; Auphan, Aude-Marie3 ................................................... 2637
HOW TO ACHIEVE PERFORMANCE EXCELLENCE:
THE CASE OF COCOMAT,
WINNER OF THE EFQM EXCELLENCE AWARD ................................................................... 2641 Kriemadis,Thanos1; Papaioannou, Alkistis2; Kourtesopoulou, Anna3............................................................. 2641
IMAGES FROM LITERATURE AND THE ARTS IN CONSTRUCTING GASTRONOMIC CULTURAL TOURISM .................................................................................................................. 2645 Leitão, Isilda .................................................................................................................................................... 2645
EMERGING MODELS OF UNIVERSITY GOVERNANCE: EMPIRICAL EVIDENCES IN THE ITALIAN CASE ............................................................................................................................... 2647 Lucianelli, Giovanna1...................................................................................................................................... 2647
THE KEY SUCCESS FACTORS IN THE FIELD OF KNOWLEDGE-INTENSIVE MARKET SERVICES: EMPIRICAL EVIDENCES IN THE ITALIAN CASE ............................................ 2649 Lucianelli, Giovanna1...................................................................................................................................... 2649
INNOVATIVE APPROACHES IN ROMANIA EDUCATION SYSTEM - ELEARNING SOLUTION PROVIDED BY SIVECO ........................................................................................... 2652 Luminita, Pistol1; Ungureanu, Adrian2 .......................................................................................................... 2652
BIO-ECONOMY: TRANSITION FROM THE ECONOMIC PARADIGM TO THE NEW GLOBAL ECONOMY ..................................................................................................................... 2655 Maria Ramona, Chivu1; Dragoș Gabriel, Popescu2; Rodica, Dragomiroiu3 .................................................... 2655
THE IMPORTANCE OF THE BRAND IN THE PORTUGUESE MOULD INDUSTRY ........ 2657 Medina, Catarina1; Estrela, Rui2..................................................................................................................... 2657
SOCIAL NETWORKING SITES: WORKPLACE IMPACT ........................................................ 2659 Melanthiou, Yioula1; Anastasiou, Nicos2 ....................................................................................................... 2659
CORPORATE RECRUITING: E-RECRUITMENT IN CYPRUS ................................................ 2661 Melanthiou, Yioula1; Contantinou, Eleni2 ..................................................................................................... 2661
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
INTEREST
RATES
VS.
INCOME
TAX IN
WEALTH
CREATION OR
21
WEALTH
DESTRUCTION ............................................................................................................................... 2663 Mihai Yiannaki, Simona ................................................................................................................................. 2663
THE POLITICAL ECONOMY OF THE PUBLIC-PRIVATE PARTNERSHIPS ACCOUNTING ............................................................................................................................................................ 2667 Moscariello, Nicola1; Cinque, Ettore2 .............................................................................................................. 2667
INTERACTIONS BETWEEN THE VOLATILITY OF FINANCIAL MARKETS AND INVESTORS’ BEHAVIOUR ........................................................................................................... 2670 Mouzoura, Georgia ......................................................................................................................................... 2670
LEADERSHIP FOR 21ST CENTURY: TOWARDS A TRANSCENDENT FRAMEWORK ... 2673 Mukerji, Debu ................................................................................................................................................. 2673
A MATRIX OF INVESTMENTS IN SOCIAL RESPONSIBILITY AND SUSTAINABILITY . 2681 Negulescu, Oriana1;Doval, Elena2; ................................................................................................................. 2681
INFORMATION
TECHNOLOGY
AS
AN
ENABLER
IN
PRODUCE
WASTAGE
OVOIDANCE ................................................................................................................................... 2684 Ostheimer, Bernhard1; Chandrasekhar, Natarajan2 ........................................................................................ 2684
EFQM EXCELLENCE MODEL AS A BASIS FOR SELF-ASSESSMENT: A STUDY OF ELECTROMECHANICAL SECTOR IN TURKEY ...................................................................... 2685 Özmen, Özgür1; Demir, Ahmet2; Özel, Semih3 .............................................................................................. 2685
AN ANALYSIS OF HUMAN RESOURCE EMPOWERMENT: A CASE STUDY IN THE HEALTH CARE SECTOR .............................................................................................................. 2689 Papaioannou, Alkistis1; Kriemadis,Thanos2; Kourtesopoulou, Anna3; Kolovos, Petros4; Gkouzou, Maria5.... 2689
INNOVATIVE MARKETING STRATEGIES IN FAMILY OWNED BUSINESSES: A WORK IN PROGRESS FRAMEWORK TO INTEGRATE SOCIAL MEDIA............................................... 2692 Pardo, Phillip1; Tajeddini, Kayhan2 ................................................................................................................ 2692
GOVERNMENT - ACADEMY DIFFERENT APPROACHES TO TECHNOLOGY TRANSFER ............................................................................................................................................................ 2695 Porath, Amiram1; Ramos , Isabel2; Rahman, Hakikur3 ................................................................................... 2695
IS THAT THE DIASPORA CAN BE A NETWORK OF INFLUENCE IN THE CREATION OF BUSINESS IN ITS COUNTRY OF ORIGIN ? CASE OF THE LAO DIASPORA. ................... 2700 Pravong, Souchinda ........................................................................................................................................ 2700
HORIZONTAL MERGERS AND ACQUISITIONS: HOW WINNERS AND LOSERS DIFFER: A MARKETING PERSPECTIVE .................................................................................................... 2703 Rahman, Mahabubur1; Lambkin, Mary2 ......................................................................................................... 2703
A CAUSAL MODEL OF THE INTERNATIONALIZATION OF SMES AND OF THE TRANSMEDITERRANEAN: THE CASE OF MOROCCAN SMES.......................................... 2714 Ramadan, Maarouf1; Levratto, Nadine2 ........................................................................................................ 2714
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
22
INNOVATION THROUGH INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN ROMANIAN EDUCATION ........................................................................................... 2719 Rascu-Pistol, Silvia1; Varga Ungureanu, Anca2 ........................................................................................... 2719
FOREIGN DIRECT INVESTMENT AS A MEANS OF ECONOMIC DEVELOPMENT ....... 2723 Rios-Morales, Ruth; Brennan, L.; Schweizer, M.; Flores, A. .......................................................................... 2723
THE IMPACT OF INTERNATIONAL INVESTMENT AGREEMENTS ON FOREIGN DIRECT INVESTMENT: THE SWISS EXPERIENCE ................................................................................. 2725 Rios-Morales, Ruth; Schweizer, M.; Gamberger, D.; Ursprung, D................................................................ 2725
FACTORS IMPACTING CUSTOMERS’ FOOD AND GROCERY RETAIL FORMAT CHOICE IN PAKISTAN .................................................................................................................................. 2727 Rotem, Shneor1; Shujaat, Ali2 ......................................................................................................................... 2727
EXPLORING
THE
INTERRELATIONS
BETWEEN
CODES
OF
CONDUCT
AND
FINANCIAL PERFORMANCE: EVIDENCE FROM GREECE ................................................. 2733 Roumeliotis, Michael1; Kyriakogkonas, Panagiotis2 ........................................................................................ 2733
A QUALITY MODEL FOR INTEGRATED HEALTHCARE IN POLAND ............................. 2736 Rudawska, Iga ................................................................................................................................................. 2736
THE IMPLEMENTATION OF FORMAL AND INFORMAL HRM PRACTICES BY MIDDLEMANAGERS IN THE PUBLIC SECTOR: THE CASE OF CYPRUS ......................................... 2741 Sakka, Georgia................................................................................................................................................. 2741
SOCIAL RESPONSIBILITY AS DRIVER OF COMPETITIVE SUCCESS IN SMES IN THE REGION OF EXTREMADURA ..................................................................................................... 2745 Sánchez-Hernández, M. Isabel1; Gallardo-Vázquez, Dolores2 ........................................................................ 2745
AN EXAMINATION OF HUMAN RESOURCE EMPOWERMENT APPLIED TO THE PUBLIC SECTOR: THE CASE OF GREEK RESEARCH CENTERS ......................................... 2748 Sarri, Stavroula1; Kriemadis,Thanos2; Papaioannou, Alkistis3 ...................................................................... 2748
CREATIVE ADVERTISING, CLASSICAL LEARNING AND PRODUCT IMAGE ............... 2752 Shuv-Ami, Avichai1; Shuv-Ami, Sivan2 ......................................................................................................... 2752
FANS’ BRAND COMMITMENT TO THEIR FOOTBALL TEAM ............................................ 2755 Shuv-Ami, Avichai ......................................................................................................................................... 2755
THE IMPACT OF THE FINANCIAL CRISIS AND AUSTERITY IN A LOCAL HOSPITAL: THE CASE OF ANTIBIOTICS CONSUMPTION AND ITS COSTS ......................................... 2758 Silva, Anabela1; Oliveira, Lídia2; Gomes, Delfina3; Caria, Ana Alexandra4 ................................................... 2758
ACHIEVING QUALITY AND EFFICIENCY BY IMPROVING PHYSICIAN MEDICATION ORDER ENTRY IN THE HOSPITAL SETTING.......................................................................... 2760 Silva Martins, Anabela1; Macedo, Isabel Maria2; Silva, Joana Isabel3 ............................................................ 2760
THE ECOTOURISM EXPERIENCE AN EXPLORATORY STUDY IN A TUNISIAN CONTEXT ............................................................................................................................................................ 2763
Confronting Contemporary Business Challenges Through Management Innovation
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Smaoui, Fatma1; Ben Ali, Amira2 ................................................................................................................... 2763
A REVIEW OF THE CURRENT SITUATION OF GENDER DIVERSE CORPORATE BOARDS AND THE IMPACT OF MORE DIVERSITY ............................................................................... 2767 Snorrason, Jón Snorri ..................................................................................................................................... 2767
THE INTRODUCTION OF ACCRUAL ACCOUNTING IN THE ITALIAN PUBLIC SECTOR: THE ‘EXCEPTIONAL’ ACCOUNTING TREATMENT FOR FINANCE LEASE ................... 2770 Sorrentino, Marco ........................................................................................................................................... 2770
THE
WORKPLACE
MOBBING: THE NEGOTIATED CODES OF CONDUCT AS
EFFECTIVE CONTRAST AGENTS .............................................................................................. 2774 Spanò, Isabella................................................................................................................................................. 2774
THE BALANCE SHEET AS A MODEL FOR SELF-ASSESSMENT AND PERSONAL BRANDING ...................................................................................................................................... 2777 Stavroulakis, Peter J.1; Fountzoula, Zoe E.2; Pantaleon, Aneza A.3 ................................................................ 2777
CONCEPTUALIZING A NEW MODEL OF SOCIAL INNOVATION IN ONLINE ENVIRONMENT ............................................................................................................................. 2780 Țâmpu, Diana Larisa1; Libardea, Laura2; Cerchez, Adela3 .............................................................................. 2780
ABNORMAL INVESTOR RESPONSE TO THE INDEX EFFECT FOR DAILY AND INTRADAY DATA .......................................................................................................................... 2784 Tavor, Tchai .................................................................................................................................................... 2784
INCREASING ECONOMIC NEED SATISFACTION ON THE PUBLIC SOCIAL SOFTWARE PLATFORM FACEBOOK – INSIGHTS FROM THE AIRPORT INDUSTRY .......................... 2785 Tenge, Marion................................................................................................................................................. 2785
THE DETERMINANTS OF E-GOVERNANCE AND HOW TO ESTABLISH A SUCCESSFUL RELATIONSHIP WITH CITIZEN ................................................................................................. 2789 Toma, Mihaela1; Balint, Antoniu Ovidiu2; Ionescu, Adrian3 ......................................................................... 2789
GENDER ROLE STEREOTYPES AND REQUISITE MANAGEMENT CHARACTERISTICS: EVIDENCE FROM GREECE .......................................................................................................... 2793 Tsoukatos, Evangelos1; Giovanis, Apostolos2 .................................................................................................. 2793
DELIBERATE
LEARNING
MECHANISMS
AND
ALLIANCE
MANAGEMENT
CAPABILITY: A PILOT STUDY .................................................................................................... 2797 Turi, Claudio1; Castaldi, Laura2...................................................................................................................... 2797
SUSTAINING BUSINESS EXCELLENCE IN UNCERTAINTY ................................................ 2800 Van der Wiele, Ton1; Van Iwaarden, Jos2; Eldridge ,Steve3; Williams, Roger4............................................... 2800
THE IMPACT OF ‘CREATIVITY’ ON STUDENT EMPLOYABILITY* ................................... 2804 Varnava Marouchou, Despina1; Mihai Yiannaki, Simona2............................................................................. 2804
AN INSIGHT INTO THE RATIONALITY OF ECONOMIC ENTITIES: EMERGING FROM CRISES WITH NEW APPROACHES TO SOCIAL SCIENCES ................................................. 2808 Vasile, Adrian1; Mihoreanu, Larisa2; Bondrea, Aurelian3 ............................................................................... 2808
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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THE CONTEMPORARY “HOMMO ECONOMICUS”: DEFINING WELLBEING AT THE CROSSROADS OF ECONOMIC GROWTH AND BUSINESS ETHICS .................................. 2813 Viciu, Tania Georgia1; Mihoreanu, Larisa2; Goran, Laura3 ............................................................................ 2813
CREATING A BUSINESS COMPETITIVENESS INDEX: AN APPLICATION TO GREEK MANUFACTURING FIRMS .......................................................................................................... 2818 Voulgaris, Fotini1; Lemonakis,Christos2 ......................................................................................................... 2818
DETERMINANTS OF USER ADOPTION OF E-GOVERNMENT SERVICES AND THE ROLE OF CITIZEN SERVICE CENTRES (CSCS), IN GREECE. ........................................................... 2820 Voutinioti, Anastasia ...................................................................................................................................... 2820
THE HYBRIDIZATION OF HRM PRACTICES WITHIN MNCS: SHIFTING FROM RECEPTIVE TO LEARNING SUBSIDIARIES ............................................................................. 2823 Yahiaoui, Dorra1; Chebbi, Hela2...................................................................................................................... 2823
"SOME CUSTOMERS THINK THE SERVICE INCLUDES ME" – SEXUAL HARASSMENT BY CUSTOMERS TOWARDS WOMEN SERVICE PROVIDERS ................................................... 2826 Yassour Borochowitz, Dalit ............................................................................................................................ 2826
FRAMING
TEAM
LEADERSHIP
FROM
A
STRATEGIC
HUMAN
RESOURCE
MANAGEMENT PERSPECTIVE .................................................................................................. 2829 Yüksel, Müberra ............................................................................................................................................. 2829
LINKING
PSYCHOLOGICAL
CONTRACT
VIOLATIONS
TO
CONSUMER
SATISFACTION: WHAT MATTERS? .......................................................................................... 2832 Zhao, Xin1; Fu, Na2; Schalk, René3 ................................................................................................................. 2832
Confronting Contemporary Business Challenges Through Management Innovation
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EFFICIENCY AND PROFITABILITY: AN APPLICATION OF DEA TO GREEK SMES Floros, Christos1; Voulgaris, Fotini2; Tsoukatos, Evangelos3 Technological Educational Institute of Crete, Greece,
[email protected]
1
Technological Educational Institute of Crete, Greece,
[email protected]
2
Technological Educational Institute of Crete, Greece,
[email protected]
3
ABSTRACT SMEs play a significant role in all economies and are the key generators of employment and income, and drivers of innovation and growth (OECD, 2009). A firm with less than 100 employees is considered as SME in Greece (Voulgaris et al., 2000). SMEs are very important in the Greek manufacturing sector (Voulgaris et al., 2004), while most of them are family businesses. They originate from a variety of different industrial sectors such as food and beverages, textile, machinery etc. Several attempts have been made on the performance of the Greek SMEs. First, Thomadakis and Droucopoulos (1996) examine the growth of Greek SMEs over the period 1983-1990 (i.e. after Greece became a full member of EC) and report a slow growth. Spanos et al. (2001) use data from 500 Greek SMEs and large firms (collected in May 1999) and show that firms place emphasis on offering high quality products/services and on lowering costs. Voulgaris et al. (2003) show that factors that influence significantly manufacturing SMEs' growth in Greece are profitability, liquidity, reliance on long-term debt, employee productivity, fixed assets turnover and restricted sales credit terms. Caloghirou et al. (2004) show that financial and marketing competencies are key factors significantly affecting the performance of Greek manufacturing SMEs. Further, Agiomirgianakis et al. (2006) examine financial factors affecting profitability of Greek manufacturing firms over the period 1995-1999, and show that firm size, age, exports, sales growth, reliance on debt on fixed assets and investment growth, as well as efficient management of assets, influence profitability. Finally, Halkos and Tzeremes (2010) show that the levels of foreign ownership have a positive effect on SMEs' performance in Greece. Due to the fact that most European SMEs are the first victims of the 2008 financial crisis (OECD, 2009), we focus on the Greek case to see if Greek SMEs have the possibility to increase the level of their profitability. In this paper we extend previous studies on the performance of Greek SMEs by examining their efficiency and profitability. This study contributes to the existing literature in two ways: (1) this is the first study that uses data from
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1
6th Annual EuroMed Conference of the EuroMed Academy of Business
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all Greek manufacturing SMEs and covers the period before and after the 2008 financial crisis, and (2) this is the first empirical investigation of DEA approach on the effect of efficiency on profitability. In particular, we consider a large amount of recent data (source: ICAP), and apply several DEA methods (under different inputs and outputs) to see the importance of these factors in estimating efficiency and profitability of SMEs. We use efficiency scores as indicators of firm performance (Mok et al., 2007). The efficiency estimates in our study are obtained using the DEA, which is originated by Charnes et al. (1978). We then examine the relationship between DEA efficiency scores and profitability (ROA, ROE) by regressing the profitability level on the efficiency scores using an OLS model. We further examine to what extend the profits of Greek SMEs are influenced by internal factors (firms' characteristics) using a one-system GMM specification. We adopt a dynamic profit specification and test whether the profitability of SMEs persists over time. Our results show that there is a positive relationship between efficiency and profitability for most firms/sectors. The results (along with policy implications) reported in this study are highly recommended to financial managers of Greek SMEs.
The paper is result of the research which is undertaken under the Arximidis III project, Ypoergo 2, of TEI of Crete. The authors are members of the research teams.
Confronting Contemporary Business Challenges Through Management Innovation
ISBN: 978-9963-711-16-1