Exploring firms’ accounting viability during economic turmoil : Best practices for SMEs entrepreneurship
The aim of this study is to enrich the existing literature through the results of the research and to provide further information to policy-maNers on the part of businesses and the state. This paper focuses on the role of determinants of the viability of GreeN Small and Medium-Sized Enterprises (SMEs) in a period of economic crisis, contributing to existing literature. We examine the factors that affect SMEs viability in times of economic recession; emphasizing on the use of collaborations with universities and research centers, as well as suggesting the tendency to maintain an adequate pillar of Equity funds and the widespread use of Enterprise Resource Planning (ERP) tools to enhance firms’ activity, as Ney determinant factors. With data extracted from field research and from databases, a model function was constructed using the Fixed Effects panel method. The empirical analysis is based on both qualitative and quantitative data extracted from a survey using a sample of more than 150 SMEs GreeN manufacturing companies. The results suggest businesses should taNe initiatives to promote cooperation networNs for innovation and set up associations representing small and medium-sized enterprises to facilitate social interactions. Applied policies should better address business needs and provide realistic incetives (e.g. tax relief) to small and medium - sized enterprices with high innovetion potential and encourage cooperation between universities and public and/or private research centers by introducing effective institutional and market-oriented arrangements. Limitations on the generalizability of results stem from the selection of the sample. Availability of data before the burst of economic crisis in 2008 would facilitate comparisons of findings before and during economic turmoil. Also, utilizing data of SMEs in other sectors would enable cross-sectorl comparisons. The paper offers practical implications to SMEs in Greece regarding their effort to survive during the socioeconomic crisis that the country faces providing as a potential strategic decision to focus on innovation and on the cooperation with universities and research centers. The paper focuses on how SMEs in Greece could survive economic turmoil throygh collaborations with academic and research community as well as innovation which could mitigate leading to accountinsh viability
Year of publication: |
[2022]
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Authors: | Garefalakis, Alexandros ; Ballas, Panagiotis ; Lemonakis, Christos ; PASSAS, IOANNIS |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
Extent: | 1 Online-Ressource (25 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | In: Interdisciplinary Journal of Economics and Business Law Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2020 erstellt |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013296926
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