Corporate governance &amp; internal audit at Greek municipal enterprises in the COVID-19 era

Pazarskis, Michail; Koutoupis, Andreas; Kyriakou, Maria I.; Galanis, Stergios

doi:10.22495/cgsetpt21

Cited by 4 publications

(2 citation statements)

References 47 publications

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“…Therefore, the first group of studies has addressed the role of internal auditors in risk management (see, for example, Tamimi, 2021). In this regard, another group of studies has examined the function of internal auditors under the influence of mediating factors such as corporate governance and gender diversity (see, for example, Pazarskis et al , 2021). The second group of studies is related to external auditors.…”

Section: Analysis Of Publicationsmentioning

confidence: 99%

Two decades of financial statement fraud detection literature review; combination of bibliometric analysis and topic modeling approach

Soltani

Kythreotis

Roshanpoor

2023

JFC

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Purpose The emergence of machine learning has opened a new way for researchers. It allows them to supplement the traditional manual methods for conducting a literature review and turning it into smart literature. This study aims to present a framework for incorporating machine learning into financial statement fraud (FSF) literature analysis. This framework facilitates the analysis of a large amount of literature to show the trend of the field and identify the most productive authors, journals and potential areas for future research. Design/methodology/approach In this study, a framework was introduced that merges bibliometric analysis techniques such as word frequency, co-word analysis and coauthorship analysis with the Latent Dirichlet Allocation topic modeling approach. This framework was used to uncover subtopics from 20 years of financial fraud research articles. Furthermore, the hierarchical clustering method was used on selected subtopics to demonstrate the primary contexts in the literature on FSF. Findings This study has contributed to the literature in two ways. First, this study has determined the top journals, articles, countries and keywords based on various bibliometric metrics. Second, using topic modeling and then hierarchy clustering, this study demonstrates the four primary contexts in FSF detection. Research limitations/implications In this study, the authors tried to comprehensively view the studies related to financial fraud conducted over two decades. However, this research has limitations that can be an opportunity for future researchers. The first limitation is due to language bias. This study has focused on English language articles, so it is suggested that other researchers consider other languages as well. The second limitation is caused by citation bias. In this study, the authors tried to show the top articles based on the citation criteria. However, judging based on citation alone can be misleading. Therefore, this study suggests that the researchers consider other measures to check the citation quality and assess the studies’ precision by applying meta-analysis. Originality/value Despite the popularity of bibliometric analysis and topic modeling, there have been limited efforts to use machine learning for literature review. This novel approach of using hierarchical clustering on topic modeling results enable us to uncover four primary contexts. Furthermore, this method allowed us to show the keywords of each context and highlight significant articles within each context.

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Section: Analysis Of Publicationsmentioning

confidence: 99%

Two decades of financial statement fraud detection literature review; combination of bibliometric analysis and topic modeling approach

Soltani

Kythreotis

Roshanpoor

2023

JFC

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“…The Kallikratis Program's execution of municipal mergers produced new information on the map of local government in Greece and has been the focus of intense discussion and controversy in recent years. Furthermore, municipalities in Greece have long created and run municipal companies with a wide range of objectives (Pazarskis et al, 2021). Regarding the aforementioned, it would be particularly interesting to present a current impression through economic analysis and evaluation of mergers of municipal companies during the Kallikratis Program using the case study of a medium-sized municipal water and sewerage company, the Municipal Water and Sewerage Company of the Municipality of Serres (DEYAS).…”

Section: Introductionmentioning

confidence: 99%

Examining governance and performance of utility companies after mergers: a case from a municipal water company in Greece

Pazarskis

Galanis

Gkatziou

et al. 2022

Public and Municipal Finance

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This study deals with the governance and performance of utility companies following mergers in local government organizations (LGOs). It is demonstrated by using the municipal water supply and sewerage company in city of Serres as a case study of how the reform initiative known as “Kallikratis” has impacted Greek municipal water and sewerage companies. As a result of the Kallikratis Program, the municipalities were merged, and new data were added to the map of local government in Greece. The methodological approach entails surveying the economic analysis of raw data using a number of financial ratios (financial statements of the municipal company). The study’s findings demonstrate that the municipal company of Serres was able to plan the actions that resulted in an improvement of the majority of the examined ratios after merger events, despite the extra responsibilities and geographic areas that the Kallikratis Program added to the municipal companies and the reduction of the extraordinary subsidies as a result of the Greek debt crisis. Eleven of the fourteen ratios perform better than they did before the merger, while three of them actually perform worse (2011–2018). However, various and contradictory results about the evolution of these ratios are seen over the crisis era, as some of them initially show a partial improvement (in the midst of the economic crisis period), but then they gradually deteriorate by the end of the crisis.

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Editorial: Better governance for complex times — Theoretical assumptions and empirical evidence

Pavone¹

2023

JGR

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The latest issue of the Journal of Governance and Regulation has been published. The need to govern phenomena is strongly felt in a world where uncertainty, crises, and failures are no longer extraordinary. This issue explores governance in several areas of investigation: governance in private companies (corporate governance), in public administrations (public governance), and the implications and new challenges for international institutions and bodies (global governance).

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Corporate governance & internal audit at Greek municipal enterprises in the COVID-19 era

Cited by 4 publications

References 47 publications

Two decades of financial statement fraud detection literature review; combination of bibliometric analysis and topic modeling approach

Two decades of financial statement fraud detection literature review; combination of bibliometric analysis and topic modeling approach

Examining governance and performance of utility companies after mergers: a case from a municipal water company in Greece

Editorial: Better governance for complex times — Theoretical assumptions and empirical evidence

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