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The effect of stress and dissatisfaction on employees during crisis


  • Halkos, George
  • Bousinakis, Dimitrios


This study investigates the effect of job stress and job dissatisfaction on employees during crisis. Primary data is collected through a random sample of 172 employees in Greece’s private and public sectors using two stage cluster sampling. Relying on this sample and the collected variables, we model for the first time a number of qualitative variables as features which represent crisis (especially stress and dissatisfaction but also migration, reprioritizing and behavioral changes). Logistic regressions are then used to present a number of useful contributory functions of stress, dissatisfaction and supportive elements. This provides the basis for calculating the odds ratios and corresponding probability of the effect on employees during the crisis. A number of new findings on the causes of stress emerge including the acceptance of salary reductions, the number of working hours, economic migration, behavioral changes between management and employees, reprioritizing, and minimization of career opportunities.

Suggested Citation

  • Halkos, George & Bousinakis, Dimitrios, 2017. "The effect of stress and dissatisfaction on employees during crisis," Economic Analysis and Policy, Elsevier, vol. 55(C), pages 25-34.
  • Handle: RePEc:eee:ecanpo:v:55:y:2017:i:c:p:25-34
    DOI: 10.1016/j.eap.2017.04.002

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    References listed on IDEAS

    1. George Halkos & Dimitrios Bousinakis, 2010. "The effect of stress and satisfaction on productivity," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 59(5), pages 415-431, June.
    2. James Alm & Erich Kirchler & Stephan Muehlbacher, 2012. "Combining Psychology and Economics in the Analysis of Compliance: From Enforcement to Cooperation," Economic Analysis and Policy, Elsevier, vol. 42(2), pages 133-152, September.
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    4. Halkos, George, 2012. "Importance and influence of organizational changes on companies and their employees," MPRA Paper 36811, University Library of Munich, Germany.
    5. N. Vecchio & G. Mihala & J. Sheridan & M. F. Hilton & H. Whiteford & P. A. Scuffham, 2014. "A link between labor participation, mental health and class of medication for mental well-being," Economic Analysis and Policy, Elsevier, vol. 44(4), pages 376-385.
    6. Temesgen Kifle & Isaac H. Desta, 2012. "Gender Differences in Domains of Job Satisfaction: Evidence from Doctoral Graduates from Australian Universities," Economic Analysis and Policy, Elsevier, vol. 42(3), pages 319-338, December.
    7. Soldatos, Gerasimos T. & Varelas, Erotokritos, 2017. "Firms’ rational expectations, workers’ psychology, and monetary policy in a behavioral real business cycle model," Economic Analysis and Policy, Elsevier, vol. 53(C), pages 129-139.
    8. Wasantha Athukorala & Clevo Wilson & Tim Robinson, 2012. "Determinants of Health Costs due to Farmers’ Exposure to Pesticides: An Empirical Analysis," Journal of Agricultural Economics, Wiley Blackwell, vol. 63(1), pages 158-174, February.
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    Cited by:

    1. Halkos, George & Gkargkavouzi, Anastasia, 2024. "Personality traits and associations with pro-environmental and economically-relevant behaviors: A brief overview of research evidence," MPRA Paper 119775, University Library of Munich, Germany.
    2. Ng, Yew-Kwang, 2018. "Ten rules for public economic policy," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 32-42.
    3. Patrick Pilipiec & Wim Groot & Milena Pavlova, 2020. "A Longitudinal Analysis of Job Satisfaction During a Recession in the Netherlands," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(1), pages 239-269, May.
    4. Economou, George & Halkos, George, 2024. "Is economic growth sustainable in the long run? The answer might not be obvious," MPRA Paper 119780, University Library of Munich, Germany.
    5. Ferreira, Ernesto R. & Monteiro, João D. & Manso, José R. Pires, 2018. "Are economic crises age and gender neutral? Evidence from European Union mortality data," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 69-77.

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