Christos Lemonakis

Christos Lemonakis
Hellenic Mediterranean University · Department of Management Science and Technology (Agios Nikolaos)

Assist.Prof. in SMEs Management at the Hellenic Mediterranean University, FCPA , CMA

About

94
Publications
39,629
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Introduction
Christos Lemonakis is an Assistant Professor of Business Administration on SMEs Management at the Hellenic Mediterranean University, Department of Management Science and Technology (Agios Nikolaos, Crete, Greece). He holds accreditations in Auditing and Costing disciplines with relevant professional experience in Banking. His research interests are (i) Banking & Risk Management, (ii) Auditing & Corporate Governance Management, and (iii) Public Administration.
Additional affiliations
May 2019 - March 2020
Hellenic Mediterranean University
Position
  • Professor (Assistant)
January 2018 - April 2019
Hellenic Mediterranean University
Position
  • Professor (Assistant)
Description
  • Technological Educational Institute of Crete, Agios Nikolaos, Crete, Greece
January 2002 - December 2017
Pancretan Cooperative Bank
Position
  • Internal Auditor
Description
  • Auditing Staff in Pancretan Cooperative Bank

Publications

Publications (94)
Article
Full-text available
This study aims to take into account regional gross value added, to assess the performance of this macroeconomic component for all thirteen Regions of Greece. We apply two different methods for the period between 2010 and 2016, (1) the PROMETHEE II Multi-criteria method and (2) Shift and Share Analysis (SHA). In a nutshell, in nine out of thirteen...
Article
Full-text available
The joint effect of the global economic and sovereign debt crisis forced the European Central Bank (ECB) to apply conventional and non-standard expansionary monetary policy interventions in order to stabilize eurozone economies. We conducted a panel regression econometric analysis to study the influence of euro area monetary authority policy interv...
Article
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Various methodological tools have been employed to assess the viability of firms. In the current study, the methodological approach is based on fuzzy sets and Boolean logic, namely, the fuzzy set Qualitative Comparative Analysis method (fsQCA), which explores all the necessary conditions and sufficient combinations in a dataset for the presence or...
Chapter
The universal financial shake of 2008 altered business and occupational circumstances and will inevitably trigger the outbreak of new forms of operational risk. Under normal conditions, OR does not cause significant losses; thus, severe damage is likely to occur when an operational miscarriage or an unexpected event takes place. Under the Basel III...
Chapter
Full-text available
The purpose of this article is to study key factors affecting export activity in the Greek manufacturing small and medium enterprises (SMEs). Under this condition the authors focus on four consecutive sectors of Greek economic activity, i.e.: food and beverage (F&B), clothing, machinery, and wood and furniture sectors. The important characteristics...
Chapter
Full-text available
Financial fraud through the falsification of financial statements is an evident problem. The restatement is enormous, and there have been developed many approaches to confront it. Profits manipulation has reached alarming proportions worldwide. The tendency of management to present a misleading image based on accounting weaknesses and gaps, to pres...
Conference Paper
On the one hand, accounting and on the other hand artificial intelligence share a common goal: to create a forecasting model for a variable of interest, using explanatory variables (or characteristics) mainly for the recognition of accounting fraud through balance sheets in the form of photography or pdf forms. Accounting plans to create probabilis...
Article
Full-text available
Purpose The purpose of this paper is to provide to the Board of Directors and CEOs of a firm to be aware of and accountable for the information they provide to the public. As long as the quality of the companies’ public information is high, it will be able to retain its investors as well as to obtain new ones more easily. Design/methodology/approa...
Article
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The ever-changing business environment, coupled with increased competition and rapid technological advances, exert pressure on businesses looking for modern ways of production and operation, based on their survival and success in profitability. In order to strengthen their market position and ultimately to gain competitive advantage over others, a...
Article
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Management Commentary Index (Ma.Co.I) is a composite measuring index developed for the detailed evaluation of narrative disclosure quality, as this has been delineated by the Financial Accounting Standards Board—FASB and the International Accounting Standards Board—IASB in 2010 in the “An Improved Conceptual Framework for Financial Reporting” publi...
Article
Full-text available
Research on the quality of narrative information of annual financial reports has long been dominated by a lack of tools that permit an objective analysis of qualitative disclosure. This study is focused on accounting disclosure research and proposes a comprehensive index that uses Key Performance Indicators to enhance understanding of the quality o...
Article
Full-text available
Effective and thorough credit-risk management is a key factor for lending institutions, as significant financial losses can arise from the borrowers’ default. Consequently, machine learning methods can measure and analyze credit risk objectively when at the same time they face increasingly attention. This study analyzes default payment data from a...
Book
Full-text available
The prediction of the valuation of the “quality” of firm accounting disclosure is an emerging economic problem that has not been adequately analyzed in the relevant economic literature. While there are a plethora of machine learning methods and algorithms that have been implemented in recent years in the field of economics that aim at creating pred...
Article
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This paper investigates the liaison between taxation and corporate governance issues of listed multinational firms and the core characteristics of their boards’ functioning. The aim is to capture the determinant factors of board independency of listed firms as well as taxation, through a multiple regression analysis. For this reason, two models are...
Article
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This paper examines banking efficiency using recent data from PIGS countries (i.e., Portugal, Italy, Greece and Spain), which suffer from debt problems. We employ a two-stage approach based on the effect of several items of balance sheets on cash flows and data envelopment analysis (DEA). More specifically, we extend previous studies by giving atte...
Article
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Purpose – The aim of this study is to enrich the existing literature through the results of the research and to provide further information to policy-makers on the part of businesses and the state. This paper focuses on the role of determinants of the viability of Greek SMEs in a period of economic crisis, contributing to existing literature. We ex...
Chapter
Full-text available
A crisis is a situation approaching a dangerous phase, which requires urgent intervention to avoid harmful effects on the body of an organization in order to return to normal situation. It is a decisive and critical time for the organization, where the wrong decision can even cost its viability. This situation can shape political, legal, economic,...
Chapter
This chapter presents the evolution of academic research in Ethical Investments (EI) research between 1990 and 2019. The chapter analyzes the most influential journals in EI research by searching for papers, which were published on the Scopus database. Results show a steadily increasing rate of EI research during the past 30 years. The chapter repo...
Article
Abstract: This paper examines banking efficiency using recent data from PIGS countries (i.e., Portugal, Italy, Greece and Spain), which suffer from debt problems. We employ a two-stage approach based on the effect of several items of balance sheets on cash flows and data envelopment analysis (DEA). More specifically, we extend previous studies by g...
Article
Full-text available
The financial system consists, without doubt, one of the most important determinants of the world national economies, which undergoes numerous changes and challenges with major impact on the economic growth prospects of a country. A healthy financial system is the steam engine of the economy, a major source for economic growth through which capital...
Article
Full-text available
The purpose of this article is to study key factors affecting export activity in the Greek manufacturing small and medium enterprises (SMEs). Under this condition the authors focus on four consecutive sectors of Greek economic activity, i.e.: food and beverage (F&B), clothing, machinery, and wood and furniture sectors. The important characteristics...
Chapter
Credit scoring usually refers to models and systems that provide a numerical credit score for each borrower, mostly for internal use by financial institutions and corporate clients. Credit ratings provide risk classifications for corporate loans, bond issues, and countries (e.g., sovereign credit ratings). This chapter describes the basic character...
Chapter
Credit is a fundamental tool for financial transactions in the private and public sector, providing the liquidity needed for all forms of economic activity for consumers and corporate activities. This chapter sets the basis for understanding the concepts and aspects of credit risk management and the current practices in this field. The discussion s...
Chapter
This chapter illustrates the application of analytical predictive and descriptive techniques for credit risk assessment. To this end, two case applications are presented using data sets involving corporate defaults and credit card loans. The first part is devoted to the prediction of corporate defaults. A data set of 13,414 European small and mediu...
Chapter
The development of credit risk assessment models in the context of credit scoring and rating, is a data-intensive task that involves a considerable level of sophistication in terms of data preparation, analysis, and modeling. From a data analytics perspective, the construction of credit scoring and rating models can be considered as a classificatio...
Chapter
Credit risk measurement and management is an active area of research that combines elements from various disciplines. As new forms of credit gain ground (e.g., from traditional corporate and consumer loans to crowdfunding, social lending, etc.) and tighter regulatory requirements are imposed (Basel accords and new reporting and accounting standards...
Book
Full-text available
Το παρόν βιβλίο αποτελεί ένα σύγχρονο σύγγραμμα σε ένα πεδίο που διαρκώς εξελίσσεται κατέχοντας ταυτόχρονα μια κεντρική θέση στην αναπτυσσόμενη Παγκόσμια οικονομία. Το βιβλίο χωρίζεται σε έξι μέρη όπου: Στο πρώτο μέρος, αναλύεται η κατηγοριοποίηση των οντοτήτων με βάσει τα Ελληνικά Λογιστικά Πρότυπα, το θεσμικό πλαίσιο των διάφορων νομικών μορφών...
Book
This book provides a unique, focused introduction to the analytical skills, methods and techniques in the assessment of credit risk that are necessary to tackle and analyze complex credit problems. It employs models and techniques from operations research and management science to investigate more closely risk models for applications within the ban...
Article
Full-text available
This study focuses on the efficiency measures of banking institutions from sixteen Eastern European countries, the Balkans and Turkey. Authors use a two-step approach to study the efficiency of banks at the regional level during the critical period 2007-2011. First, the study examines whether banks are actively operating differently at a regional l...
Article
Full-text available
Under Sarbanes-Oxley (SOX) Act Section 302, management should, from one hand, certify and disclose in reports the effectiveness of internal controls applied to processes and procedures followed by a listed entity and, on the other, highlight potential deficiencies and provide information on potential frauds or sources of risk that could negatively...
Article
Full-text available
Purpose The purpose of this paper is to examine the gender role phenomenon and the stereotyping of requisite managers’ personal characteristics in the Greek society of today. Design/methodology/approach Data were collected quantitatively based on the informants’ perceptions on successful managers’ personality traits and according to the informan...
Article
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This paper reviews the empirical and theoretical literature on the field of corporate governance and internal audit in banking sector and other industries, presenting selected research from 1998 up to 2017. The review has two contributions. The first aim is to examine how research on areas of corporate governance has evolved during these years (bef...
Article
Full-text available
The purpose of this study is to investigate the drivers of both technological and non technological innovation on evidence from a sample of manufacturing Small & Medium Enterprises (SMEs) in the region of Crete (Greece) during a period of economic turbulence. Using probit models the drivers of innovation, both technological and non-technological, a...
Article
Full-text available
The purpose of this study is to investigate the drivers of both technological and non-technological innovation on evidence from a sample of manufacturing SMEs in the region of Crete (Greece) during a period of economic turbulence. Using probit models the drivers of innovation, both technological and non-technological, are examined. The empirical re...
Chapter
Two centuries of Greek debt emergencies highlight the traps of depending on outside financing. Since its autonomy in 1829, the Greek government has defaulted four times on its outside creditors, and it was safeguarded in every crisis. Firstly, this chapter demonstrates that cycles of outside crises and reliance are a perpetual topic of Greek presen...
Chapter
Full-text available
The economic crisis in recent years has brought significant challenges in almost all business and shown that exogenous factors act as catalysts in markets. As a consequence of such a result, there is a need to highlight the importance of implementing models for analyzing potential future firms’ behavior, namely creating models for assessing potenti...
Article
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So as to enhance the risk of balanced execution of their portfolios, speculators look to broaden by including new resources, new sorts of monetary instruments or even new resource classes. Like wares, volatility rose as an unmistakable resource class and included the speculation portfolios particularly by multifaceted investments. This paper exami...
Article
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The predictability of stock returns by investors has been a crucial issue updating over the time. The aim of this study is to investigate the effect of economic leading indicator of Baltic dry index (BDI) on stock returns of socially responsible stock index. For the purpose of the study, Dow jones sustainability index world (DJSIW) is employed in t...
Article
Full-text available
Drawing on the resource-based view of the firm, investigation on the effects of internal resources and capabilities (R&D and technology) on small and medium-sized enterprises (SMEs) innovation performance is attempted. Using primary (survey-based) and financial data from 405 Greek manufacturing SMEs, new evidence on the impact of R&D activities, IT...
Article
Full-text available
Recent literature on Corporate Annual Reports (CAR) underlines that, in order to meet the changing needs of CAR users, more narrative (forward looking) information should be provided, with a focus on those factors that are liable for longer term value of banks financial performance. This papes investigates the Management Commentary portion (MC) and...
Article
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The scope of this study is to address the impact of stock index returns on exchange rate. In particular, it aims to fill the literature gap regarding the determinant role of socially responsible companies on the exchange rate Trade Weighted U.S. Dollar Index to Major Currencies as a proxy for US dollar value. For this reason, the Dow Jones Sustaina...
Article
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The global economic crisis has caused many drastic changes in operation of the global banking system. However, Islamic banking considered to be an emerging force presenting stability and growth. Purpose of this study are the measurement of stability and comparison of Islamic and conventional banks in Gulf Cooperation Council's (GCC) and the Middle...
Chapter
Protected areas are under national and international environment laws because their recognized biological and environmental values provide economic prospects. The Prespa Lake Ecosystem, shared by three countries, Greece, FYROM and Albania, constitutes a dynamic model of local economic growth, environmental protection, joint management and internati...
Article
Full-text available
This study intends to investigate the main drivers of socially responsible stock index returns. For this reason, Dow Jones Sustainability Index World (DJSIW) is employed to identify companies that incorporate socially responsible initiatives in their business operations. As far as explanatory drivers of DJSIW returns are concerned, four variables a...
Article
Full-text available
The globalization and the global financial crisis provide a new extremely competitive environment for small and medium sized enterprises (SMEs). During the latest years, the increased number of firms’ default has generated the need of understanding the factors of firms’ default, as SMEs in periods of financial crisis suffer from lack of financial r...
Article
Nowadays, effective use of internet provides an opportunity to identify successful practices and policies for innovative business models in order to promote regional development through agro-tourism. In Crete, agro-tourism entrepreneurs have developed commercial activities in the internet where customers and firms are linked up together in the exch...
Article
Full-text available
Abstract: Nowadays, effective use of internet provides an opportunity to identify successful practices and policies for innovative business models in order to promote regional development through agro-tourism. In Crete, agro-tourism entrepreneurs have developed commercial activities in the internet where customers and firms are linked up together i...
Article
Drawing on the resource-based view of the firm, investigation on the effects of internal resources and capabilities (R&D and technology) on small and medium-sized enterprises (SMEs) innovation performance is attempted. Using primary (survey-based) and financial data from 405 Greek manufacturing SMEs, new evidence on the impact of R&D activities, IT...
Conference Paper
Full-text available
In an extremely changing " knowledge-based " environment for enterprises, the process of knowledge in enterprises is a significant mechanism enhancing absorptive capacity for innovation and performance. Enterprises' competitiveness depends on their ability to access information and create valuable knowledge. As knowledge management can be a determi...
Article
Full-text available
This study focuses on the role of business cooperation and firms’ exporting activity as the determinants of Greek manufacturing SMEs’ innovative extend use, contributing to the existing empirical literature. The empirical analysis based on unique both quantitative and qualitative data, derived from a survey covering more than 158 small and medium-s...
Article
Full-text available
In this paper we examine the prevailing theories of capital structure (Trade-off theory, theory of representation costs, Pecking-order theory and Market timing), in all quoted companies on London Stock Exchange, before and after the crisis, and the foreign capitals used in order to establish which theory best explains the capital structure of compa...
Article
Full-text available
Transport industry is a very important factor for country’s development in various fields. One of them is economic, since the development of transport reinforces the trade relationships between countries and companies. This helps countries and firms to utilize the competitive advantage which may have. Therefore, the volume of transport carried out...
Article
Full-text available
Although many empirical studies do exist on firms’ efficiency and exportability level of manufacturing firms, limited research exists on Clothing and Footwear (CFW) sector, especially in Greece. The CFW sector is a vital sector for Greece and can contribute to the startup of the Greek economy. This paper examines the determinants of exporting perfo...
Article
Full-text available
The purpose of the study is to analyze and compare the financial performance of manufacturing firms of Central and South European, Scandinavian and Balkan countries. In addition, the impact of firm's productivity on country's export intensity, foreign direct investments, R&D activity and financing costs is examined. This is the first comparative st...
Article
Full-text available
Research on the quality of the narrative portion of the annual report has long been hampered by a lack of tools that permit an objective analysis of qualitative disclosure. This study is the first piece of accounting disclosure quality research which proposes a comprehensive index that uses Key Performance Indicators (KPIs) to enhance understanding...
Article
Full-text available
The civil aviation, is an industry evolving at exponential speed despite the significant problems that faces in the last decade (increase of oil price, terrorist attacks etc.) An important feature of aviation firms and generally all companies, is that their size reflects their efficiency and in general their economic growth. In this era of financia...
Conference Paper
Full-text available
The present research places emphasis on the implementation of the international accounting standards within the context of the European Union. In this respect, the accounting harmonization process pursued herein, through the adoption of International Financial Reporting Systems (IFRS), actually has created a paradoxical situation of national differ...
Article
Full-text available
In the knowledge-based and globalized economy, information provides value to firms and Information Technology (IT) is the mechanism through can be achieved. Companies that exploit endless possibilities of Information Technology obtain the capacity to overcome future challenges. This study is focused on the case of Greek SMEs that face an extremely...
Article
Full-text available
The agri-food sector is an important sector for Greece and can contribute to the startup of the Greek economy. Therefore, the study covering the period 2004-2011, before and after the 2008 financial crisis in Greece, attempts to investigate the drivers of competitiveness in agricultural firms of Greece in the pre and post financial crisis era and d...
Article
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With the continuous and drastic changes due to the economic crisis, along with the increasing market demands, major reforms are initiated in the healthcare sector in order to improve the quality of healthcare and operational efficiency, while reducing costs and optimizing back-end operations. ERP systems have been the basic technological infrastruc...
Article
Full-text available
The purpose of this study is to measure the efficiency of the banking industry in the Middle East and North Africa (MENA) region and to investigate its effect on capitalisation and risk during the period: 2003–2012. The study, based on banks’ financial data, attempts to present new evidence on the relationship between efficiency, capital and risk...
Article
Full-text available
Oil prices have been analyzed for decades and attract special attention from both, academics and market participants, for many years. During the last decade and especially after the global economic crisis of 2008, energy market- dominated by crude oil- exhibits a noticeable price volatility with great impact to both investor's behavior and financia...