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Institutional Repository [SANDBOX]
Technical University of Crete
Technical University of Crete
EN
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| URI: | http://purl.tuc.gr/dl/dias/41126072-3962-4AA2-825E-D7C85F641AFE | ||
| Year | 2003 | ||
| Type of Item | Peer-Reviewed Journal Publication | ||
| License |
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| Bibliographic Citation | F. Voulgaris, M. Doumpos , C. Zopounidis. (2003) .The financial profile of Greek manufacturing SMEs through a multivariate statistical methodology. Review of Economic Sciences [online]. pp. 5-26.Available:http://cris.teiep.gr/jspui/bitstream/123456789/1098/1/epiteyxos4_001.pdf | ||
| Appears in Collections |
Small and Medium sized Enterprises (SMEs) play a very important role for the Greek economy and employment. This paper attempts through a classification procedure to evaluate the financial performance of Greek SMEs during a period of macroeconomic changes following European Economic Integration. For this purpose, a multivariate data analysis framework-factor and cluster analysis is applied οη a random sample of Greek manufacturing SMEs. The approach gave meaningful results, which enabled us to define the financial profile of Greek SMEs, their reaction to macroeconomic changes and their differences from large manufacturing firms. The findings show that Greek SMEs have lower liquidity, lower and more volatile profits, lower reliance οη debt, especially long-term debt than LSEs and are more affected by macroeconomic conditions.
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