This paper attempts to examine the power structure and competition levels that exist in the Europ... more This paper attempts to examine the power structure and competition levels that exist in the European wholesale and retail oil markets by placing special emphasis on the Greek case. Our analysis indicates that in the wholesale segment the established legislative regime for the transportation of the liquid fuels develops an important barrier to new competitors’ entry to the market and facilitates the incumbent oil companies to exercise more power. In the retail market, although the non-price competition appeared to be relatively high it was found that some problems may also occur in the near future due to deficiencies in the existing legal framework. These are mainly associated with the high rents for license contracts for fuel stations in national roads, the fixed trading hours of liquid fuel service stations, and the prohibition of fuels’ sales by hypermarkets. JEL Classification: D40; L11.
This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a... more This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a recent dataset of a large number of US firms over the period 2007- 2016, we perform a dynamic empirical analysis of the relation between ESG and firms’ exiting mechanism by measuring environmental, social and governance issues. We provide evidence that corporate sustainability is a tool that can reduce risks and enable companies to boost surviving mechanisms and face less probability of failure. Finally, we perform several statistical tests for robustness purposes
The Greek maritime sector has dominated international markets for years. In recent years, however... more The Greek maritime sector has dominated international markets for years. In recent years, however, relocation of ship building processes in other countries as well as intensification of competition has caused problems to the sector’s performance. In this paper, we focus our interest on the exploration of the Greek coastal ferry boat industry case by employing Porter’s competitive model of five forces. Our analysis indicates that Greek coastal ferry market is characterized by intense duality. The factors found to significantly affect this market’s performance and sustainability are: the regulatory framework, the competitive rivalry and the threat of substitute services.
The relationship between innovation and corporate sustainability constitutes a long-lasting debat... more The relationship between innovation and corporate sustainability constitutes a long-lasting debate among policymakers and researchers. Despite the significant contributions to this field, extant literature does not provide clear answers. This can be attributed to the fact that prior studies do not incorporate the various aspects of innovation to measure their impact on sustainability performance. This study aims to cover this gap in the emerging literature by using a unique micro-level panel dataset consisting of a large number of firms scattered across the US states over the period 2007-2016. Our findings reveal that the basic mechanism for achieving corporate sustainability is through the innovation channel. We also argue that the quantity and value of innovation enhance the sustainability level, whereas these effects are strengthened in times of recession (global financial crisis). The empirical results survive robustness checks under alternative innovation measures and different...
Human capital is often considered as one of the most fundamental requirements for high organizati... more Human capital is often considered as one of the most fundamental requirements for high organizational performance, whereas key driver for the achievement of higher levels of employees' productivity is considered the employment of a suitable performance appraisal system. Based on this perspective, we assume that every organization needs to establish an effective appraisal system which will be sufficient to facilitate employees’ continuous development. This is especially relevant for public sector organizations that in some countries implement fundamentally flawed performance appraisal systems. On the verge of the transition from the bureaucratic to the new public management model, the organizational units of the public sector seem to have an excellent opportunity to redesign their key processes, including human capital appraisal forms. This paper explores the context and role of a few critical human capital practices, which are mainly related to employees’ self-evaluation and per...
International Journal of Public Sector Performance Management, 2020
The purpose of this paper is to examine whether human resources schemes comprised of factors such... more The purpose of this paper is to examine whether human resources schemes comprised of factors such as organizational commitment, job satisfaction, and public service motivation can lead to increased levels of work performance, especially when performance appraisal systems do not contribute to this direction, as it is the case with Greece. To attain this goal, a questionnaire survey was conducted, addressed to a sample of 130 Greek civil servants. In the absence of an effective performance appraisal system, research results indicate that only the civil servants with a high degree of self-motivation and an in-depth sense of civic duty have the reasons to be better at their work and enhance their performance. Finally, contrary to the expectations of a number of public administration scholars and stakeholders, factors such as organizational commitment and job satisfaction are not proved to have a significant impact on work performance.
Despite the importance of early warning systems (EWS) in revealing weak signals on environmental ... more Despite the importance of early warning systems (EWS) in revealing weak signals on environmental changes and in constructing a solid base for timely and appropriate business response particularly against the backdrop of business crises, empirical evidence - especially at the country level - still lags behind. The aim of this paper is to contribute to the practical and theoretical knowledge about EWS by providing empirical evidence from companies located in three different European countries, i.e. Croatia, Austria, and Greece. We propose that companies in richer countries, i.e. measured in terms of GDP, have a higher implementation level of EWS and more likely meet the current state-of-the-art of EWS while company’s in countries with lower GDP rather reveal a lesser level of development. Moreover we explore the reasons for not implementing EWS. For our survey we used a structured questionnaire. Against our hypotheses there are no significant differences between countries concerning t...
This paper attempts to examine the power structure and competition levels that exist in the Europ... more This paper attempts to examine the power structure and competition levels that exist in the European wholesale and retail oil markets by placing special emphasis on the Greek case. Our analysis indicates that in the wholesale segment the established legislative regime for the transportation of the liquid fuels develops an important barrier to new competitors’ entry to the market and facilitates the incumbent oil companies to exercise more power. In the retail market, although the non-price competition appeared to be relatively high it was found that some problems may also occur in the near future due to deficiencies in the existing legal framework. These are mainly associated with the high rents for license contracts for fuel stations in national roads, the fixed trading hours of liquid fuel service stations, and the prohibition of fuels’ sales by hypermarkets. JEL Classification: D40; L11.
This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a... more This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a recent dataset of a large number of US firms over the period 2007- 2016, we perform a dynamic empirical analysis of the relation between ESG and firms’ exiting mechanism by measuring environmental, social and governance issues. We provide evidence that corporate sustainability is a tool that can reduce risks and enable companies to boost surviving mechanisms and face less probability of failure. Finally, we perform several statistical tests for robustness purposes
The Greek maritime sector has dominated international markets for years. In recent years, however... more The Greek maritime sector has dominated international markets for years. In recent years, however, relocation of ship building processes in other countries as well as intensification of competition has caused problems to the sector’s performance. In this paper, we focus our interest on the exploration of the Greek coastal ferry boat industry case by employing Porter’s competitive model of five forces. Our analysis indicates that Greek coastal ferry market is characterized by intense duality. The factors found to significantly affect this market’s performance and sustainability are: the regulatory framework, the competitive rivalry and the threat of substitute services.
The relationship between innovation and corporate sustainability constitutes a long-lasting debat... more The relationship between innovation and corporate sustainability constitutes a long-lasting debate among policymakers and researchers. Despite the significant contributions to this field, extant literature does not provide clear answers. This can be attributed to the fact that prior studies do not incorporate the various aspects of innovation to measure their impact on sustainability performance. This study aims to cover this gap in the emerging literature by using a unique micro-level panel dataset consisting of a large number of firms scattered across the US states over the period 2007-2016. Our findings reveal that the basic mechanism for achieving corporate sustainability is through the innovation channel. We also argue that the quantity and value of innovation enhance the sustainability level, whereas these effects are strengthened in times of recession (global financial crisis). The empirical results survive robustness checks under alternative innovation measures and different...
Human capital is often considered as one of the most fundamental requirements for high organizati... more Human capital is often considered as one of the most fundamental requirements for high organizational performance, whereas key driver for the achievement of higher levels of employees' productivity is considered the employment of a suitable performance appraisal system. Based on this perspective, we assume that every organization needs to establish an effective appraisal system which will be sufficient to facilitate employees’ continuous development. This is especially relevant for public sector organizations that in some countries implement fundamentally flawed performance appraisal systems. On the verge of the transition from the bureaucratic to the new public management model, the organizational units of the public sector seem to have an excellent opportunity to redesign their key processes, including human capital appraisal forms. This paper explores the context and role of a few critical human capital practices, which are mainly related to employees’ self-evaluation and per...
International Journal of Public Sector Performance Management, 2020
The purpose of this paper is to examine whether human resources schemes comprised of factors such... more The purpose of this paper is to examine whether human resources schemes comprised of factors such as organizational commitment, job satisfaction, and public service motivation can lead to increased levels of work performance, especially when performance appraisal systems do not contribute to this direction, as it is the case with Greece. To attain this goal, a questionnaire survey was conducted, addressed to a sample of 130 Greek civil servants. In the absence of an effective performance appraisal system, research results indicate that only the civil servants with a high degree of self-motivation and an in-depth sense of civic duty have the reasons to be better at their work and enhance their performance. Finally, contrary to the expectations of a number of public administration scholars and stakeholders, factors such as organizational commitment and job satisfaction are not proved to have a significant impact on work performance.
Despite the importance of early warning systems (EWS) in revealing weak signals on environmental ... more Despite the importance of early warning systems (EWS) in revealing weak signals on environmental changes and in constructing a solid base for timely and appropriate business response particularly against the backdrop of business crises, empirical evidence - especially at the country level - still lags behind. The aim of this paper is to contribute to the practical and theoretical knowledge about EWS by providing empirical evidence from companies located in three different European countries, i.e. Croatia, Austria, and Greece. We propose that companies in richer countries, i.e. measured in terms of GDP, have a higher implementation level of EWS and more likely meet the current state-of-the-art of EWS while company’s in countries with lower GDP rather reveal a lesser level of development. Moreover we explore the reasons for not implementing EWS. For our survey we used a structured questionnaire. Against our hypotheses there are no significant differences between countries concerning t...
This paper attempts to clarify the meaning of corporate social responsibility (CSR) in the contex... more This paper attempts to clarify the meaning of corporate social responsibility (CSR) in the context of the European maritime sector and examines its application in the case of the Greek-owned short sea shipping companies. CSR is assessed in terms of a number of variables such as employees’ satisfaction, corporate productivity and efficiency, social welfare, awareness and social accountability of managers and directors, et al. Focus is given on the applicability of CSR to shipping companies of small and medium size. For this purpose a survey has been conducted. Based on the findings of the qualitative research performed, it is concluded that the application of CSR is restricted only to companies that either are subsidiaries of international conglomerates or owned by shipowners personally aware of the corporate benefits derived from social responsible behaviour . Based on improved knowledge of managers’ and directors’ attitudes and views towards CSR solutions, the paper offers some ways forward for policy informing.
Uploads
Papers by Irene Fafaliou