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Economic efficiency of Greek retail SMEs in a period of high fluctuations in economic activity: a DEA approach

机译:经济活动高波动时期希腊零售中小企业的经济效率:DEA方法

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This study aims to analyse the economic efficiency of Greek small and medium retail enterprises before and after the crisis that started in 2008. Based on the Accounting Equation, we use Data Envelopment Analysis (DEA) to estimate variable returns of scale efficiency scores and to conclude on specific characteristics that efficient companies have, for example, on capital structure. Our results from the DEA application show a high degree of inefficiency. We found that SMEs on the islands are more efficient than those on the mainland and that SMEs in the cities are the least efficient. Size seems to be important, more so on the islands and on the mainland than in the cities. We conclude that companies should act more conservatively in terms of operating cost when the first signs of a recession appear. In addition, during a recession period, companies that have evidences that their operations will continue positively should strengthen their operations by raising more own capital. Finally, our study clarifies four issues: the efficiency of retail companies in a period of growth and a period of recession, focusing on SMEs that operate in different regions, connecting Accounting Equation and DEA and adding acid ratio as an output in our model.
机译:这项研究旨在分析希腊中小型零售企业在2008年开始的危机前后的经济效率。基于会计方程,我们使用数据包络分析(DEA)来估算规模效率得分的可变回报并得出结论取决于高效公司具有的特定特征,例如资本结构。我们从DEA应用程序获得的结果显示出高度的效率低下。我们发现,岛上的中小企业比大陆的中小企业效率更高,而城市的中小企业效率最低。规模似乎很重要,在岛屿和大陆上比在城市上更重要。我们得出结论,当出现衰退的最初迹象时,公司应在运营成本方面采取更为保守的态度。此外,在经济衰退时期,有证据表明其业务将继续积极发展的公司应通过筹集更多的自有资金来加强其业务。最后,我们的研究澄清了四个问题:零售公司在增长期和衰退期的效率,侧重于在不同地区运营的中小企业,将会计方程和DEA联系起来,并在模型中添加酸比率作为输出。

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