Panagiotis Zervopoulos

• PhD
• Professor (Associate) at University of Sharjah

This research examines the impact of formal institutions, the human development index (HDI), technological progress, and trade openness on the environmental performance of various countries. The study applies a Bayesian data envelopment analysis (DEA) approach to measure environmental performance, offering consistent estimates while addressing issu...

The growth of government (GoG) has garnered significant attention among scholars and practitioners across disciplines such as economics, political science, and public management. Despite the optimism surrounding this concept, its future trajectory in the twenty-first century remains uncertain. Extant literature explaining the rationales for organiz...

This study's objective is to estimate airline performance and identify the most resilient business model during periods affected by global crises, including financial crises, natural disasters, pandemics, terrorist attacks, and post-crisis periods. A balanced panel of 80 airlines, classified into full-service carriers (FSC), low-cost carriers (LCC)...

This book presents selected proceedings of the International Conference on Business Analytics in Practice (ICBAP2024), which was held on January 8–11, 2024, at the University of Sharjah, UAE. The book presents advanced modeling and examples to explore the practical applications of business analytics across various industries and domains. In addit...

Existing public sector management literature requires an empirical examination of the relationship between change readiness, organizational agility, and public value-driven innovation performance. Moreover, how organizational structure moderates these relationships in the public sector context is still being determined. This study aims to address t...

Existing public sector management literature requires an empirical examination of the relationship between change readiness, organizational agility, and public value-driven innovation performance. Moreover, how organizational structure moderates these relationships in the public sector context is still being determined. This study aims to address t...

A number of review studies have been conducted to provide valuable insights into the M&A decision-making process in the banking sector and factors that could have a positive and effective impact on it. This study systematically reviews and analyses the decision-making process for M&A and its related factors in 15 interviews with experts related to...

We measure the performance of a real-world triadic supply chain (SC) network consisting of suppliers, 3PL, and retailers. Three-stage network slacks-based measure (NSBM) and multi-parametric bias correction generalised directional distance function (MPBC-NGDDF) approach are developed to deal with conventional and non-discretionary inputs, desirable...

This study explores the impact of information and communication technology (ICT), education, and research and development (R&D) on countries' economic efficiency and technology heterogeneity. A panel of 52 countries, classified into developed (31 sample countries) and developing (21 sample countries) during 2011–2019, were the data sources for the...

Entrepreneurial activities and level of corruption largely determine the creation of public value. Corruption may affect a society in various ways, however, its relationship with entrepreneurship is crucial. The current paper highlights the interaction effects between entrepreneurship and corruption in order to better understand the dynamics of pub...

A balanced panel of 83 airlines during 2011–2019, classified into (a) high perceived service quality and (b) low perceived service quality, was incorporated into the Bayesian meta-frontier framework. Our findings were obtained from applying a novel method to data sourced from the ICAO Data+ and Skytrax databases. We obtained consistent efficiency a...

Purpose-This study aims to comprehensively examine the relationship between financial reporting quality (FRQ) and investment efficiency (IE). The central thrust of this research endeavor is to empirically analyze the impact of FRQ on diverse facets of investment, including overinvestment, underinvestment and overall IE. Design/methodology/approach-...

This study measures the sustainable performance of ten car manufacturers operating in the U.S. We took into account three dimensions of sustainability: (a) economic, (b) environmental, and (c) social. Our methodology drew on the generalized directional distance function data envelopment analysis in conjunction with the multi-parametric method for b...

This study emphasizes the assessment of efficiency and the degree of operating efficiency of mergers and acquisitions in the pharmaceutical industry worldwide. This industry encounters various challenges such as expiring patents, the rise of genetics pharmaceuticals, the entrance of biotechnology companies in the pharmaceutical market, the increasi...

This study estimates the relative efficiency of twelve colleges of the University of Sharjah from 2014 to 2019. The methodological approach we employed ensures the homogeneity of the colleges under review. We used an output-oriented smoothed bootstrap data envelopment analysis (DEA) model for the efficiency assessment while assuming that variable r...

The purpose of this study was to explore airport performance and its impact on customers’ and employees’ satisfaction. This study applied a slacks-based measure network DEA (NSBM) model to evaluate the performance of sixteen international airports. Ten variables were incorporated in the two-stage NSBM model. Specifically, five inputs (i.e., number...

The main objective of this study is to empirically examine the impact of REM on various aspects of investment efficiency, including overinvestment and underinvestment. By examining the interplay between these complex constructs, this research endeavors to provide deeper insights and contribute to a more comprehensive understanding of the intricate...

The purpose of this article is to develop a research framework for clearly understanding the factors that propel the growth of government. Based on an extensive review of literature, it is found that despite the call for small governments by the proponents of neo-liberal market ideology, the growth of government remains unabated. Extant literature...

We provide both a theoretical framework and empirical results for the relationship between CO2 emissions and systemic risk in the U.S. Based on a modified structural distance-to-default model that integrates physical risk effects, a theoretical framework is developed, documenting a positive link between CO2 emissions and systemic risk. Network VAR...

We explore the relationship between Federal Home Loan Bank (FHLB) advances and systemic risk. In terms of theoretical framework, there exist two links which characterise this relationship. The first connection is from lagged systemic risk to subsequent advances, establishing the ‘liquidity provision’ effect. The second is from lagged advances to su...

In this study, we introduce an alternative Bayesian data envelopment analysis (DEA) approach yielding consistent efficiency estimators for convex sets. This approach draws on two distributional assumptions, a uniform likelihood and a beta prior. It is known from the literature that the combination of those two distributions leads to a reasonable es...

Purpose: This paper aims to investigate the internal and external determinants of firms’ efficiency and develop optimal corporate governance risk benchmarks for the manufacturing sector across different countries. Design/methodology/approach: Corporate governance risk data were acquired from Institutional Shareholder Services Europe SA. Data on fi...

Using a mixed frequency VAR methodology, which can accommodate variables with different frequencies in a VAR framework, we model the relation between monthly systemic risk and real GDP growth. To identify the importance of business and consumer sentiment in this relation, a Kalman filter approach is adopted to extract the systemic risk-driven senti...

A modified generalised directional distance function data envelopment analysis model is introduced into the smoothed bootstrap context. The new model handles asymmetrically desirable and undesirable outputs and deals with positive and negative values, while the bias-corrected estimators are independent of the length of the direction vector. The rea...

Noise in data is not uncommon in real-world cases, although it is commonly omitted from performance measurement studies. In this paper, we develop a stochastic DEA-based methodology to measure performance when the endogenous (e.g. efficiency) and exogenous variables (e.g. perspectives of patients’ satisfaction), which are incorporated in the assess...

This paper puts forward the proposition that U.S. commercial banks use dividends as a mechanism to shift systemic risk to debt-holders and the deposit insurer. Using a mixed data sampling modeling approach, it is shown that monthly systemic risk factors are associated with a positive effect on future quarterly bank dividends indicating systemic ris...

A flexible semi-parametric augmented Dickey Fuller (ADF) regression is proposed to explore real exchange rate dynamics for 16 countries over the twentieth century, and to estimate half-lives. Departing from existing literature, the present approach does not impose a functional form of the ADF regression and encompasses parametric extensions. Signif...

A balanced panel of 103 countries for the period 1995–2011 is introduced into a metafrontier framework to gain insight into the idiosyncratic performance of countries in two distinct groups — developed (Annex I) countries and developing (non-Annex I) countries. We measure efficiency using a generalized directional distance function model suitable f...

This paper emphasises the sensitivity of the data envelopment analysis (DEA) efficiency estimators to sampling variations of the production frontier and dimensionality of the production set. It has been proven that DEA yields asymptotic unbiased estimates. A DEA (smoothed) bootstrap method is widely being applied to address the inaccuracy of DEA es...

Countries rapid economic growth, energy consumption and anthropogenic emissions (GHGs) in the atmosphere are creating serious environmental problem on both global and local scales-. This is while compiled evidence about the relationship between climate change/global warming and the amount of GHG released is present (IEA, 2010). In advance, it is ge...

Sustainability, despite being a major concern for companies, has not been studied from a market-orientation perspective. Market-oriented companies can integrate sustainability activities into their business strategies but there is a gap in our knowledge to what extend this affects firm performance This paper analyses the sustainable performance dif...

In this study, we developed a DEA-based performance measurement methodology that is consistent with performance assessment frameworks such as the Balanced Scorecard. The methodology developed in this paper takes into account the direct or inverse relationships that may exist among the dimensions of performance to construct appropriate production fr...

Economic activity produces not only desirable outputs but also undesirable outputs. Undesirable outputs are usually omitted from efficiency assessments (i.e., applications of Data Envelopment Analysis) which fail to express the true production process. The directional distance function model has been used for handling asymmetrically both desirable...

A Data Envelopment Analysis-based methodology is developed to measure the performance of not-for-profit and for-profit service organizations. The proposed methodology can incorporate endogenous and exogenous variables in the production process, which are directly or inversely related. This methodology always identifies reference units that are qual...

This chapter presents an attempt to compare the productivity of the Mexican banking sector in two different periods: the 2007-2011 period of global financial crisis and the 2003-2006 stage, which can be regarded as a relatively stable period. The purpose of this study is to disclose whether the global financial crisis affected Mexican banking produ...

Data envelopment analysis (DEA) is a linear programming methodology to evaluate the relative technical efficiency for each member of a set of peer decision making units (DMUs) with multiple inputs and multiple outputs. It has been widely used to measure performance in many areas. A weakness of the traditional DEA model is that it cannot deal with n...

Effectiveness involves more than simple efficiency, which is limited to the production process assessment of peer operational units. Effectiveness incorporates both endogenous and exogenous variables. It is a fundamental driver for the success of an operational unit within a competitive environment in which either the liquidity of money in the mark...

Data Envelopment Analysis (DEA) is a widely applied nonparametric method for comparative evaluation of firms’ efficiency. A deficiency of DEA is that the efficiency scores assigned to each firm are sensitive to sampling variations, particularly when small samples are used. In addition, an upward bias is present due to dimensionality issues when the...

The data envelopment analysis (DEA) is used extensively for estimating the comparative efficiency of operational units that employ similar production processes. Efficiency optimization, however, is not adequate by itself to ensure the successful operation of an enterprise because it is related only to the internal production process of a business u...

In the age of the smart machine and informative domination, work organizations and their managers look forward to acquiring internal advantages for their companies in response to external changes and pressures. In this pursuit for success managers are often attracted by various techniques and software programmes such as reengineering solutions and...

The super-efficiency (SE) model is identical to the standard model, except that the unit under evaluation is excluded from the reference set. This model has been used in ranking efficient units, identifying outliers, sensitivity and stability analysis, measuring productivity changes, and solving two-player games. Under the assumption of variable, n...

Data drain for peer active units operating in the same sector is a major factor that prevents policy makers from developing flawless strategic plans for their organisation. This study introduces a hybrid model that incorporates a purely deterministic method, Data Envelopment Analysis (DEA), and a semi-parametric technique, Artificial Neural Network...

A plethora of performance – effectiveness – efficiency measurement methods have been developed and implemented to public organizations since the mid-nineteenth century. However, the ’60s have been considered a milestone for the measurement methods embraced by the public sector, initially in the United States and later in most of the OECD countries,...

Operational effectiveness goes beyond efficiency while it incorporates exogenous variables, non-controllable by the service units. Effectiveness is a fundamental driver for the success of an operational unit within a competitive environment. In this context, we seek to identify the active units that meet both the high or technical efficiency and th...