Industry-Versus Firm-specific Effects on Performance:: Contrasting SMEs and Large-sized Firms

The present study contrasts the impact of industry- and firm-specific factors on the profitability of business firms using survey and census data on a sample of Greek manufacturing firms. Industry effects are represented using industry concentration, product differentiation, and stage of life cycle. Firm factors include assets and dynamic capabilities. These assets are related to marketing, production, technology, and finance. While dynamic capabilities are related to the managerial processes of coordination/integration, learning, and the capacity to change. The results obtained provide strong evidence that firm factors exert a much stronger impact than industry, in both SMEs and large enterprises. The results also offer important insights on the differential impact of specific determinants of profitability between SMEs and large firms.Industry effects Firm-specific effects Firm profitability Firm size

Antecedents and trajectories of AMT adoption: The case of Greek manufacturing SMEs

This study examines antecedents and trajectories of advanced manufacturing technology (AMT) adoption in three categories: stand-alone, intermediate, and integrated technologies. Antecedents of adoption include prior investments in AMT, developments in firms' manufacturing capabilities, technology strategy, absorptive capacity, and environmental pressures. Based on a sample of 87 Greek manufacturing SMEs, we find that AMT adoption follows an incremental, piecemeal progression from the least complicated through intermediate to integrated technologies. It is found that an increase in the firms' quality and flexibility capabilities induces them to adopt further AMT, whereas advances in low-cost, innovation, and delivery capabilities appear negatively related to further AMT adoption. Absorptive capacity, technology strategy and environmental pressures play a central role in decisions for additional investments in AMT. In the context of a catching-up economy, these results support the notion of a 'stepwise' technology accumulation process as well as 'satisficing' technological change.Technology adoption Advanced manufacturing technologies Catching-up economy Technological trajectory

Greek Firms and EMU:: Contrasting SMEs and Large-Sized Enterprises

The primary aim of this study is to contrast and identify differences in the ways by which SMEs and large firms have attempted to change their management practices in order to cope with the formidable challenges associated with competing in the EMU. Using survey data collected from leading Greek firms shortly before Greece's recent accession to the EMU, the study is an attempt to begin empirical work in this area by focusing on changes in competitive strategy, structure and management processes. The results indicate that both SMEs and large firms have initiated changes in all three dimensions. It seems, however, that the degree and direction of these responses depends on size; SMEs appear less able and/or less willing to implement change, perhaps because of size-related disadvantages.Organizational change EMU SMEs Large firms Strategy Structure Management processes

Greek hidden champions:: lessons from small, little-known firms in Greece

The purpose of the research described in this paper is to first identify successful Greek SMEs that can be qualified as `hidden champions' and second to uncover the factors that have contributed to their success. These factors relate to their choice of markets served, their relationships with customers and suppliers, innovative behavior, leadership and human resources management practices. The findings suggest that four overall themes or `recipes' may explain the success of these firms: (a) intense specialization in narrowly defined market segments, (b) commitment to customer service, (c) innovative culture and adaptation to new technologies, and (d) strong leadership and a healthy organizational climate.SMEs Champions Competitive advantage Niche markets Customer services Innovation Leadership

Assessing the Socio-economic Impacts of the Framework Programme

Diese Studie wurde begonnen, um die sozioökonomische Bewertung der Auswirkungen der gemeinschaftlichen Rahmenprogramme zu prüfen und das Verständnis darüber zu verbessern, wie diese Auswirkungen bestimmt, definiert und gemessen werden könnten. Die Begründung für die Arbeit liegt in der Aufwertung der Bedeutung der Forschung und technologischen Entwicklung (FTE) für das Wirtschaftswachstum und die Entstehung der wissensbasierten Wirtschaft. Die Studie wurde sowohl als Mittel zur Bereitstellung einer rigorosen und verteidigungsfähigen akademischen Erklärung zu den Begründungen für konzipiert FTE-Unterstützung und bestmögliche Mittel für ihre Bewertung und als ein funktionelles Dokument, das den Entscheidungsträgern, die sich direkt mit der Auslieferung und Bewertung der Politik im Bereich der FTE befassten, helfen konnte