PurposeThis paper aims to identify the relationship between efficiency and profitability by using data from Greek meat processing companies over the period 1994‐2007.Design/methodology/approachThe relationship of efficiency and profitability is studied, by applying a new performance decomposition model. This method is capable of making valid and consistent inferences about the performance of a two‐stage production system, as well as the main sources of inefficiencies within a company.FindingsA poor performance over the study period is observed in the sample companies. The low performance is mainly due to the low profitability. The results do not confirm the existence of a positive strong correlation between efficiency and profitability. The companies that have the capability of producing their products with the best practices are not always capable of generating the maximum profits.Practical implicationsThe need for the improvement of performance has two aspects: first, it is a demand for the effective use of resources, and simultaneously, it is an urgent requirement for the generation of profits. According to the study findings, the long‐term survival of firms in our sample seems to require adopting mainly profitability‐enhancing strategies.Originality/valueThis paper provides one of the first evaluations of performance focusing on efficiency and profitability, by applying an innovative performance decomposition approach that has not yet been applied in Greek industries.

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The purpose of this article is to examine the application of an artificial neural network (ANN) approach in property valuation. The approach has been enhanced by the use of a geographic information system (GIS) to enrich the explanatory variables and model the spatial dimension of the problem. The sample data used contain information of 3150 properties in the broader area of Athens. Various internal physical (structure quality and quantity) and external environmental characteristics (neighbourhood characteristics and transportation access) of the properties are available. In order to incorporate these environmental variables, the GIS was used to employ location-based characteristics. In our approach, the multilayer perception network has been employed and the results have been compared with the traditional approach of the spatial lag model. The comparison demonstrates that ANN gives more consistent predictions in the area of Athens. Our results reveal the non-linear relationships of the value of a property with respect to floor space and age. Finally, spatial variation of the values of the properties in broader area of Athens is illustrated.

This paper reviews a double-bootstrap data envelopment analysis of the performance of the Greek poultry sector for the period of 1994-2007. The purpose for implementing this method is to obtain consistent inferences in measuring technical efficiency and in identifying its determinants. The findings suggest that on average, technical inefficiency is present in the Greek poultry industry. Under the variable return to scale specification, technical efficiency decreased to 90% in 2007 from 94% in 1994. In order to explain the factors influencing technical efficiency, the efficiency scores estimated in this study were regressed by using specific variables of sample firms and industry context. The results of the regression analysis show statistically significant positive impacts on performance are factors like market size, productive flexibility and being a member of a firm group, with size and innovation activity of the firm being negative influences. In contrast, the integration of Greece into European Economic and Monetary Union and several other capabilities of firms, related to age, vertical integration, capital intensity and skill of employees, did not have any influence. These results may help managers and policy-makers to determine adequate policies and practices for achieving performance.Identifying the sources of heterogeneity of performance among companies is a central issue in industrial organisation and strategic management research. Attempts to explain the determinants of efficiency are made over several decades. The main question is whether company or industry characteristics are the most important influential factors. A major stream of research that has borrowed its framework from the efficiency structure

This paper focuses primarily on the demographic and social structures across Europe aiming to portray how similar needs for care of the elderly population (justified on health outcomes), are addressed in different ways across European countries. To approach this issue, we focus first on mapping the 'needs for care' -a rough measure of demand for care, and then on family structures -characterizing an institution linked with the provision or supply of care. Attention turns next to linking these aspects, focusing on the types of care provided as a response to the needs of the elderly, distinguishing between informal (defined as unpaid personal care provided by family members) and formal care (defined as paid help provided by professionals and private providers). Mapping these trends, via choropleth maps, the emerging picture suggests that the same needs for elderly care are met via different channels across European countries: Southern countries appear to rely more on informal channels of care provision, while private providers (i.e. paid care) represent the dominant pattern in the North, as well as in most of the Continental counties. This difference is mirrored by a greater involvement of formal structures linked to the Welfare State as one goes further North; indeed the twofamily ties and Welfare State involvement -proceed in parallel.