Efficiency, leverage and profitability: the case of Greek manufacturing sector

Christos Floros and Fotini Voulgaris

Global Business and Economics Review, 2016, vol. 18, issue 3/4, 385-401

Abstract: In this article, we analyse manufacturing sector efficiency in Greece over the period 1996-2011. We compute DEA efficiency scores which we combine with a Tobit analysis to see whether efficiency scores play a role in explaining profitability and leverage. The results from 27 sub-sectors show that: 1) leverage has no effect on sectors' performance in terms of technical efficiency; 2) sub-sectors with a high level of technical efficiency enjoy a higher level of profitability. We argue that competitiveness may be an important indication for Greek firms.

Keywords: technical efficiency; profitability; manufacturing industry; data envelopment analysis; DEA; Tobit; leverage; Greece; competitiveness. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ids:gbusec:v:18:y:2016:i:3/4:p:385-401

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