How to Handle the Fiscal Crisis in Greece: Empirical Evidence Based on a Survey of Economic Experts

We asked economic experts polled by the CESifo World Economic Survey how to handle the fiscal crisis in Greece in the year 2015. The sample includes about 850 experts from 110 countries. We find systematic differences in experts’ recommendations. Our results suggest that policy advice is related to an expert's personal and country‐level attributes. Country‐level characteristics, especially credit default swaps as a measure of fiscal stability, predict views on whether Greece should exit the eurozone. An expert's educational background, age and professional affiliation predict opinions on the credit programmes of the International Monetary Fund. We propose that policymakers who seek balanced policy advice should consult experts from different countries and personal backgrounds.     

Using client performance measures to identify pre-engagement factors associated with qualified audit reports in Greece

The purpose of this paper is to test the extent to which client (corporate) performance measures can be used to enhance the ability to discriminate between the choice of a qualified or unqualified (clean) audit report. Audit firms face the risk of losing the client if they issue a qualification. On the other hand, failing to qualify exposes the auditor to potential lawsuits and loss of reputation. We examined the financial statements, auditors' opinions, and financial statements notes for companies in Greece that received a qualified audit report and for those that received an unqualified audit report. We modeled the auditor's qualification using a multicriteria decision aid classification method (UTADIS—UTilités Additives Discriminates) and compared it with other multivariate statistical techniques such as discriminant and logit analysis. The qualification decision is explained by financial ratios and by nonfinancial information such as the client litigation. The developed models are accurate in classifying the total sample correctly with rates of almost 80%.     

Costs,knowledge and market structure: understanding the puzzle of international competitiveness with Greek export data

This is an analysis of the sources of international competitiveness with Greek export data for the period 1987–2007. The framework used in the study incorporates factors that do not only represent cost competitiveness but also shed light on the determinants of economic complexity. Economic complexity is the amount of knowledge capabilities embodied in exports that indicates – as a source of comparative advantage – the ability for product differentiation and product variety. The empirical analysis shows that industries benefit substantially from their own R&D activity but, owing to weak economic complexity in the country, there are no cross-industry knowledge spillovers (both at national and international level) that can benefit export activity. Greek exports were found to be sensitive to relative unit labour costs (RULC) but the most important export component of this index is relative labour productivity and not labour cost. Not all institutional arrangements have the same impact on exports, for example high trade union density might harm competitiveness but this factor is uncorrelated with R&D investment. In the view of these findings, Greece’s route to international competitiveness should be primarily by improving its economic complexity, making sure that the country specialises in productive activities that enrich its knowledge capabilities as well as increase the potential of knowledge transfer.     

Encountering Everyday Racist Practices: Sociospatial Negotiations of Immigrant Settlement in Athens,Greece

This article delineates the ways in which the context of institutional and non‐institutional racist practices, legitimated by the rise of extreme right‐wing populism and racism, affects immigrants’ everyday lives in Athens, Greece. In this research, I explored the transformations of immigrants’ settlement trajectories, coping strategies and tactics, and their bodily interactions when encountering racist violence at the local level, through extensive fieldwork in two case study areas in metropolitan Athens—Omonia and Nikaia. The article is based on previous work on encounters with difference and everyday racism, with the aim of contributing to existing scholarship by examining urban encounters with manifestations of racism in the form of violent practices, which are on a rise not only as exceptional but also as everyday lived events. I demonstrate how immigrants’ encounters with police raids and patrols, and with racist violence perpetrated by neo‐Nazi militias, transform immigrants’ daily lives in the city at the micro‐scale. These encounters have an impact not only on immigrants’ social relationships, strategies and tactics of settlement, but also on the reconstruction of urban space. My argument is that urban encounter remains an open and dynamic field for negotiation of interethnic cohabitation, as it produces both violent confrontations and sociospatial embodied opportunities for coexistence.     

Accommodation decision-making during the COVID-19 pandemic: Complexity insights from Greece

With the remaining ambiguity around COVID-19 effective treatment, the decision-making process for 2020 tourists remains fraught with complexity. Drawing from a sample of 385 permanent Athenian residents, the study explores the decision-making attributes driving their accommodation purchasing preferences in times of increased uncertainty. The complex dynamics are investigated using fuzzy-set Qualitative Comparative Analysis. A complementary analysis evaluates the size effect of the examined conditions using Necessary Condition Analysis. In total, four solutions are generated concerning: (i) health and safety; (ii) the price-quality nexus; (iii) risk aspects; and (iv) quality related health and safety. The study contributes towards the initiation of the theoretical discourse on the foundations of the exploration of tourists’ accommodation choice triggers and dilemmas in times of pandemics. The results inform market intelligence with regard to accommodation-related customer priorities, perceptions and intentions during the pandemic which lay several important managerial implications for the accommodation industry.     

Imbrications of institutional logics: the case of an e‐government initiative in Greece

This paper examines critically whether e‐government initiatives can be conceived of as representing a shift from a bureaucratic to a citizen‐centric institutional logic. We draw upon a longitudinal study of a Greek e‐government initiative that introduced one‐stop shops for the delivery of government services. Based on institutional theory, we provide a framework that illustrates the domains of institutional change that accompany e‐government projects and show how such institutional change can be understood as complex imbrications of contrasting institutional logics rather than one institutional logic displacing another. We argue that imbricated logics may have many unintended consequences which are not simply the outcome of either of the logics but are emergent from the imbrication.     

Predicting industrial ad readership

This study examined the effect of visual and psycholinguistic elements (such as picture size and the number of adjectives in the headline) on industrial advertisement readership. Multiple regression techniques were used to analyze the data, which were obtained from AD-CHART. AD-CHART is a research firm which specializes in the measurement of industrial ad readership. The analyses showed that visual and psycholinguistic elements are better predictors of industrial advertising readership than more complicated models.     

An Exploration of the Greek Shadow Economy: Can Its Transfer into the Official Economy Provide Economic Relief Amid the Crisis?

We explore the determinants of the Greek shadow economy, its interaction with the official economy, and its relationship with corruption. In doing so, we undertake — for the first time — an interdisciplinary review of economic and political studies on the size and determinants of the shadow economy, tax evasion, undeclared work and, moreover, of their relation with corruption in Greece in order to reveal the extent and complexity of these phenomena. We estimate the size and determinants of the shadow economy via a multiple-indicators-multiple-causes (MIMIC) approach. Our findings indicate that the important determinants are factors related to macroeconomic conditions, such as unemployment and GDP growth, and institutional factors, such as tax morale and the rule of law. We also indicate that the shadow economy and corruption are complementary and that the official and the shadow economy substitute each other over the business cycle. An adoption of policy based on these findings would lead to a successful transfer of part of the shadow economy to the official economy, would boost government revenue, and would eventually lead the Greek economy out of the depression that emerged as a result of the sovereign debt crisis.     

Estimating Consumer Preferences for Value-Added Fish Products in Oman

Abstract

The European meat industry is confronted with substantial changes of consumer preferences in relation to the type and quantity of meat in everyday diet. One of the main reasons behind these changes is the public impression that meat is a “dangerous” to consume food. This feeling is the result of recent food scares where meat played a central role and their effect on consumers' perceptions about meat safety. The research at hand explores the market potential of organic meat in Greece and emphasizes the perceptions about meat consumption held by organic consumers as opposed to those held by non-consumers of organic foods. It is expected that organic consumers will be more interested in a series of quality attributes of meat commonly found in its organic type, in comparison to non-consumers of organic food. However, the main finding of the survey is that consumer demands in relation to meat quality and safety are particularly high, irrespective of meat's production method. The research concludes that the particularly low consumption of organic meat in Greece should be partially attributed to its insufficient differentiation in consumers' minds.