Balios D, Basiakos I, Eriotis N, Kotsilaras P, Thalassinos E.
Factors Affecting the Quality of Financial Reporting after the Adoption of the New Greek Accounting Standards. International Journal of Finance, Insurance and Risk Management. 2021;11(3):3-26.
AbstractPurpose: The quality of financial reporting represents a major challenge for modern firms, as well as for all stakeholders. It is indicative that international standards are developed in order to ensure the relevance, comparability, understandability, faithful representation and timeliness of official financial statements. Under this framework, the present research investigates the factors which affect the quality of financial reporting and more precisely, firm size, audit firm size, geographical location, leverage, liquidity and profitability.Design/methodology/approach: The quantitative approach was selected and regression analyses were used to provide answers to the research questions. Quality was chosen as the dependent variable, measured using the results of a previous study. First, a regression model was developed in order to reveal correlations between the variables. Then, each independent variable was correlated with the dependent variable (quality) and different regression models were developed for each correlation.Findings: Firm size, audit firm size, geographical distribution, and more precisely the location of the headquarters are positively correlated with the quality of financial reporting. Profitability is negatively correlated with the quality of financial reporting, while leverage is not correlated with the quality of financial reporting. Besides, the quality of financial reporting depends on the interaction of all the variables and the initial model interprets this relationship in a satisfactory way.
Balios D, Basiakos I, Eriotis N, Kotsilaras P, Thalassinos E.
Financial Reporting Quality before and after the Greek Accounting Standards Adoption using NiCE Qualitative Characteristics Measurement Perspective of Competencies Towards Uniformity in Family Business. International Journal of Finance, Insurance and Risk Management. 2021;11(3):28-41.
AbstractPurpose: During the last years an effort is made, at a European and global level in order to introduce financial reporting standards which are similar across different countries, so as to enhance the quality of financial statements and prepare reports which can be comparable and useful for all stakeholders. Under this framework, the new Greek Accounting Standards were developed and are adopted by entities, according to the Law 4308/2014 which incorporates the Directive 34/2013/EU.Design/methodology/approach: The present study uses a sample of 123 Greek companies and investigates the financial reporting quality before and after the adoption of the new standards.Findings: According to results, the quality is ameliorated in terms of relevance, faithful representation, understandability and compliance. On the other hand, timeliness was negatively affected.Practical implications: According to the Greek Law4308/2014, all entities - apart from those obliged to use IFRS - are allowed to choose between the adoption of the new Greek Accounting Standards or IFRS. The study elaborates on the positive effects of the adoption of the new Greek Accounting Standards.Originality/value: The present research is one of the few researches concerning the adoption of the new Greek Accounting Standards, while the stratification and selection process used in order to select the sample was novel regarding existing research on the subject. As a consequence a representative sample is used, in terms of geography and size, and this enhances the quality of the research results.
Bassiakos YC, Kalogiratou Z, Monovasilis T, Tsounis N.
{Computational method for approximating the behaviour of a triopoly: an application to the mobile telecommunications sector in Greece}. International Journal of Computational Economics and Econometrics [Internet]. 2021;11:63-77.
WebsiteAbstractComputational biology models of the Volterra-Lotka family, known as competing species models, are used for modelling a triopoly market, with application to the mobile telecommunications in Greece. Using a data sample for 1999-2016, parameter estimation with nonlinear least squares is performed. The findings show that the proportional change in the market share of the two largest companies, Cosmote and Vodafone, depends negatively on the market share of each other. Further, the market share of the marker leader, Cosmote, depends positively on the market share of the smallest company, Wind. The proportional change in the market share of Wind, depends negatively on the market share of the largest company Cosmote but it depends positively by the change in the market share by the second company, Vodafone. In the long-run it was found that the market shares tend to the stable equilibrium point where all three companies will survive with Cosmote having a projected number after eleven years (in 2030) of approximately 7.3 million subscribers, Vodafone 4.9 and Wind 3.7, the total number of projected market size being approximately 16 million customers.