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Article
Publication date: 5 October 2012

Simona Mihai Yiannaki

The “business‐risk” relationship across countries does not fit exactly into a “model” nor does it have a pure palliative effect. Following this idea, the purpose of this…

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Abstract

Purpose

The “business‐risk” relationship across countries does not fit exactly into a “model” nor does it have a pure palliative effect. Following this idea, the purpose of this research is to reinforce a comparative study on small to medium‐sized enterprises (SMEs) handling both risk and crisis management according to a new tailored model of a balance scorecard (BS). This new model of risk and crisis management aims at improving both SMEs' management adaptation and performance across all of crisis' stages, something not attempted so far in the literature.

Design/methodology/approach

The application of such a BS comes from the author's experience as a banker financing various SMEs industries, as a bank consultant on risk management, yet primarily from the results of a survey performed on a set of Romanian and Cypriot SMEs, equal‐proportionally selected from the area of trading, manufacturing, and services. The data regard the period 12/2008‐06/2011 as representative for the latest global financial crisis affecting the entire European Union region, too.

Findings

Coincidently or not, this study's results show a significant improvement of the financial performance of the SMEs who employed this model compared to those who did not.

Originality/value

This model's simplicity appeals to managers and regulators in understanding important business risks and crisis related phenomena. Backed by this idea, this research underpins a comparative study on SMEs handling risk and crisis management according to a new tailored model of a BS.

Article
Publication date: 18 July 2011

Simona Mihai Yiannaki

Most recent bank bailouts, from a financial and economic perspective, turn political. This paper seeks to frame ten effective implications/lessons of the most recent bank…

1060

Abstract

Purpose

Most recent bank bailouts, from a financial and economic perspective, turn political. This paper seeks to frame ten effective implications/lessons of the most recent bank bailouts of 2007‐2009 in the Western economy model when analyzing actual shareholders' value retrenchment or growth opportunities.

Design/methodology/approach

The paper uses a literature review and a re‐conceptualized framework of event study methodology, secondary data analysis of qualitative and quantitative information.

Findings

Recent bank bailouts relate to: global bailout interconnections, economic downturn and liquidity boost, abnormal returns, efficiency recovery, evasion of social costs, new opportunities for M&A, new risk management applications, opportunistic investors and eventually patience. Most important, findings recommend shareholders to grasp opportunities for bargains from bailout banks as well as to harvest their existing investments. At the same time, economic education and control become another important solution.

Research limitations/implications

Consequently, as the paper targets most recent bailouts, a still ongoing event, there is a need for extended financial data that could enhance some cause‐related solutions after economic recovery.

Practical implications

The practicality of the paper refers to guiding management of both government and financial institutions on the choice for reasoning bank bailouts, providing some critical thinking views to investors as well as academics.

Originality/value

Research or studies on the most recent financial crises bailouts have not yet been written, due to the process continuation. The novelty of the paper resides not in calculating ratios and interpreting them, but rather in looking more into some interesting strategic moves used to boost shareholders' value.

Content available
Article
Publication date: 5 October 2012

Simona Mihai-Yiannaki and Peter Stokes

650

Abstract

Details

International Journal of Organizational Analysis, vol. 20 no. 4
Type: Research Article
ISSN: 1934-8835

Article
Publication date: 18 May 2012

Simona MihaiYiannaki and Savvas Savvides

This paper aims to highlight for the first time, creativity's vital role in a new approach in the higher education world which can improve the current university…

Abstract

Purpose

This paper aims to highlight for the first time, creativity's vital role in a new approach in the higher education world which can improve the current university instructional strategies post financial crisis.

Design/methodology/approach

The paper offers a theoretical framework which has emerged from literature review and personal business and educational experiences of the authors. It seeks to provide synthetically some answers/“solutions”, focusing on a three dimensional framework: where to play the game of creativity; how to deliver creativity to business students, meaning by what structures and methods; and how to win in implementing this game.

Findings

Many researchers appeared to focus on making their findings applicable to the entire education system paying little attention to issues specific to the business education sector. Succinctly, the focus of the papers is on “how to do it” part, which provides several realistic insights on how to connect communities into the game of creativity. Other methods required relate to: balancing creativity with core essentials; promoting excellence and sustainability; networking between students; faculty, management and community; improving learning environment; developing staff; teaching; learning competencies and programme curricula under an integrated service vision; anticipating educational future trends in networking; and building creative climates and partnerships.

Originality/value

The paper's conclusions and recommendations present a practical set of good practices through the explicit and implicit identification of core characteristics for creativity in higher education. Eventually, the first mission in wanting to be creative is to really comprehend the problem, knowing all ways to approach it.

Details

International Journal of Organizational Analysis, vol. 20 no. 2
Type: Research Article
ISSN: 1934-8835

Keywords

Book part
Publication date: 15 February 2021

George Papageorgiou, Simona Mihai-Yiannaki, Myria Ioannou, Despina Varnava-Marouchou and Stelios Marneros

Entrepreneurship education should catch up with the current developments in today’s digitally interconnected and virtual world. As all forms of conducting business become

Abstract

Entrepreneurship education should catch up with the current developments in today’s digitally interconnected and virtual world. As all forms of conducting business become digital, essentially entrepreneurship needs a new digital competence-based learning approach. This chapter proposes a Digital Communications competency profile that every modern entrepreneur should possess. The proposed profile incorporates digital marketing (DM) as it recognises the need for major changes in entrepreneurship educational programmes. The proposal is based on an extensive literature review, which reveals that future demand for competencies goes beyond basic traditional entrepreneurship skills to include digital communication. It is shown that future entrepreneurs should possess advanced communication skills, in DM, which includes social media marketing, digital marketing strategies, search engine optimisation, content marketing and E-mail marketing. These competencies would facilitate customer involvement and open innovation. As a result, via the process of co-creation creative ideas can be transformed into successful products and services. The modern entrepreneurship profile underlines the paramount role of digital communications skills, which should be incorporated in entrepreneurship educational programmes.

Details

Universities and Entrepreneurship: Meeting the Educational and Social Challenges
Type: Book
ISBN: 978-1-83982-074-8

Keywords

Article
Publication date: 5 October 2012

Andreas G. Koutoupis

This study focuses on the evaluation of the introduction of international corporate governance codes such as Combined Code (UK) and King Report III (SA) in the Greek…

642

Abstract

Purpose

This study focuses on the evaluation of the introduction of international corporate governance codes such as Combined Code (UK) and King Report III (SA) in the Greek publicly listed enterprises. This research is based on a case study analysis of six publicly listed enterprises (three of them are traded in the high capitalization index and another three in the medium‐low capitalization index of the Athens Stock Exchange). The main purpose of this paper is to examine the extent of international corporate governance codes impact in the relevant local laws and regulations, as well as the adopted best practices.

Design/methodology/approach

Qualitative research is carried out to address the research topic, using primary and secondary data. The primary source of this study is the professional experience of the author in the field of corporate governance within publicly listed enterprises, whereas secondary sources are the international corporate governance codes, Greek corporate governance laws, regulations and best practices, books, working papers and published articles.

Findings

Although certain parts of international governance codes requirements have been applied by a number of Greek publicly listed enterprises, there is a long way to go to achieve best practice. The reason for this is the typical, however not substantial application of international governance codes requirements.

Originality/value

Research is proved to be very useful as it describes a gap analysis in the application of international governance codes in the areas of corporate governance, internal and external auditing, as well as the regulators therefore making it easier to identify potential areas for improvement.

Details

International Journal of Organizational Analysis, vol. 20 no. 4
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 5 October 2012

Loukia Evripidou

The purpose of the current study was first to identify the motives for mergers, and second to examine the effect of mergers on the systematic risk of bidder firms in the…

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Abstract

Purpose

The purpose of the current study was first to identify the motives for mergers, and second to examine the effect of mergers on the systematic risk of bidder firms in the airline industry.

Design/methodology/approach

To evaluate the effect of mergers in the systematic risk, two different market models are estimated for each company in the sample, one with pre‐merger data and one with post‐merger data. Then the results obtained from the two data sets are compared so as to identify possible differences.

Findings

The study has identified three diving motives behind the merges, namely cost efficiency, economies of scale, and market power. All of these motives are expected to affect the new firm's earnings stream and in turn affect its systematic risk. With the use of the market model the individual merger results are mixed and in line with the relevant literature. Nonetheless, the average results showed a decrease in the post‐merger systematic risk.

Research limitations/implications

A reduced post‐merger systematic risk indicates a success in achieving management objectives. Mergers can generate synergetic gains from increasing cost efficiencies and/or scale economies and can also increase shareholders value through the reduction in the new firm's cost of capital. However, to have a more valid perspective a larger number of mergers should be included in the sample together with alternative calculation of systematic risk to test the robustness of the results.

Originality/value

Taking into account the current economic hardship this paper addresses the issue of shareholders wealth maximization through mergers.

Details

International Journal of Organizational Analysis, vol. 20 no. 4
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 5 October 2012

Savvas C. Savvides and Nicoletta Savvidou

The purpose of this paper is to empirically investigate the disclosure practices of market risk by 30 banks in ten countries of different size and geographic distribution…

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Abstract

Purpose

The purpose of this paper is to empirically investigate the disclosure practices of market risk by 30 banks in ten countries of different size and geographic distribution (USA, Canada, UK, Germany, Japan, Italy, The Netherlands, France, Greece and Cyprus).

Design/methodology/approach

The paper uses content analysis and other statistical techniques (regression and correlation analysis) to produce qualitative and quantitative indicators of the degree of market risk disclosure to ascertain if differences exist across countries and across banks of different size.

Findings

The findings validate the testing hypotheses, namely that there are still significant differences across banks in different countries, meaning that there is no harmonization in disclosure practices; that the banks in the Anglo‐Saxon countries (UK and USA) are consistently better in their overall risk reporting practices; that the banks that are “good” in reporting qualitative information are also “good” in reporting quantitative information on risk types; OLS regression analysis and correlation analysis point to a positive association between bank size (as measured by the market capitalization) and the level of risk reporting.

Originality/value

The study contributes to a research area that is under‐researched, especially focusing on market risk of banks across countries.

Details

International Journal of Organizational Analysis, vol. 20 no. 4
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 5 October 2012

Maria‐Jesús Mures‐Quintana and Ana García‐Gallego

The purpose of this paper is to focus on the development of a business failure prediction model on a sample of small and medium‐sized firms with head offices located in…

616

Abstract

Purpose

The purpose of this paper is to focus on the development of a business failure prediction model on a sample of small and medium‐sized firms with head offices located in the region of Castilla y León (Spain), in order to prove the significance of non‐financial information on the prediction of business failure.

Design/methodology/approach

In order to reach the authors' aim, one of the most used predictive statistical methods in this field (logistic regression) is applied, in which the authors consider financial ratios and non‐financial information as potential variables to predict failure. But before developing the respective models, in order to reduce the number of variables, a principal components analysis (PCA) is first applied. Then, the achieved results with this analysis are used in the prediction step, so as to estimate the models.

Findings

The results of the predictive method show that non‐financial information, which becomes significant in the developed models, helps financial ratios to improve the ability to predict failure, so any business failure model should also consider both types of information to be accurate.

Originality/value

Most of the developed business failure prediction models have used a paired sample with the same number of failed and non‐failed firms, which has the drawback of not being representative of the population from which it is chosen. In order to obtain a representative sample, a random sampling method is applied, on the basis of the population size and composition. The selected sample assures that parameter estimates are not inconsistent and biased, as the statistical methods assume.

Details

International Journal of Organizational Analysis, vol. 20 no. 4
Type: Research Article
ISSN: 1934-8835

Keywords

Content available
Book part
Publication date: 15 February 2021

Abstract

Details

Universities and Entrepreneurship: Meeting the Educational and Social Challenges
Type: Book
ISBN: 978-1-83982-074-8

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