Entrepreneurial networks in highly globalised industries: the case of the Greek shipping industry

Abraham Stefanidis, Anthony Ioannidis and Panos Mourdoukoutas

International Journal of Networking and Virtual Organisations, 2007, vol. 4, issue 2, 189-200

Abstract: This paper unveils one of the secrets of success of the Greek shipping industry: informal networking of families of entrepreneurs with long strong ties imbued in mutual trust and immersed in 'love for the sea' tradition that allow Greek shipping firms to address the peculiarities and specificity of a highly globalised industry. Close family ties, clustering, and tacit knowledge allow Greek shipping companies to enjoy efficiencies and synergies hard to replicate by the competition. Long family ties create mutual trust and understanding that minimises opportunistic behaviour and agency costs. Clustering creates both scale and networking economies that provide Greek shipping companies an advantage over their peers.

Keywords: entrepreneurial networks; shipping industry; Greece; globalisation; competitive advantage; entrepreneurship; family entrepreneurs; family ties; trust; understanding; clustering. (search for similar items in EconPapers)
Date: 2007
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