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

Author

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  • Christos Floros
  • Fotini Voulgaris

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.

Suggested Citation

  • Christos Floros & Fotini Voulgaris, 2016. "Efficiency, leverage and profitability: the case of Greek manufacturing sector," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 18(3/4), pages 385-401.
    • Handle: RePEc:ids:gbusec:v:18:y:2016:i:3/4:p:385-401
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