https://www.um.edu.mt/library/oar/handle/123456789/28519 Sat, 18 Apr 2026 15:12:33 GMT 2026-04-18T15:12:33Z https://www.um.edu.mt/library/oar/handle/123456789/31057 Title: Comparative analysis of carrying capacity indices for the central Aegean Islands Authors: Tselentis, Vasileios S.; Prokopiou, Dimitris G.; Toanoglou, Michalis Abstract: The tourist industry is one of the most important economic activities in Greece. The country receives over 14 million visitors per year. In an era where tourism is one of the fastest growing sectors of the developing countries the competition with existing tourism destinations, such as Greece, will intensify. Greece has enjoyed increasing numbers and revenues from tourism due to the unique environment both natural and man-made making it a high profile tourist destination. However, it is already clear, that the uncontrolled growth of the industry can bring serious environmental and social problems, leading to a decline in the quality of tourist product and services provided. Such negative effects can be controlled and reduced using environmental and tourism indices to estimate the impact of tourism and other businesses on the environment. The purpose of this paper is to apply the principles of coastal environmental management for the Islands in the central Aegean Sea islands via the carrying capacity assessment methodology in order to develop environmental performance indicators necessary for formulating a novel sustainable development policy proposal for Greek tourism. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31057 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31053 Title: Borrowing cost as a crucial factor for sustainable fiscal consolidation & for exiting the current crisis Authors: Theodoropoulos, Sotirios Abstract: The Greek fiscal crisis which is evidenced in a sharp deterioration of public finances resulting in the highest public deficit and debt in the E.U. makes even more urgent the necessity to make accurate assessments of the problem so as to apply the appropriate policy measures. After repeated downgrades by all rating agencies in a period of a few months, along with the loss of access to financial markets in spring of 2010, the unaffordable cost of borrowing due to record high spreads, reached such levels that the necessary fiscal adjustment is now nearly impossible. The international support mechanism created by the IMF, European Commission & ECB in order to avoid sovereign default, and preserve Greece’s position as a member of the Euro-zone, was an urgent and necessary step. Besides the policy measures stated in the memorandum of understanding, which are an attempt to correct years of structural imbalances in Greek public finances, borrowing cost become a crucial factor for achieving the above targets. In this paper we try to present and explore the evolution of borrowing cost from Greece’s entry to the Euro-zone until the end of 2009 and its severe deterioration afterwards. As will be shown, at the close of 2009, borrowing cost became one of the most crucial component in restoring fiscal consolidation and discipline. The spill-over effects of the borrowing cost on the private sector- crowding out effects- following the loss of access to international financial markets by domestic banks, will be investigated. Also, necessary preconditions for sustainable markets and E.U. enforced fiscal discipline by appropriate policy measures to restore market’s confidence and reduce borrowing cost, will be discussed. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31053 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31004 Title: Translating the service quality gaps into strategy formulation : an experimental case study of a Greek academic department Authors: Terzakis, Dimitris; Zisis, Pandelis V.; Garefalakis, Alexandros E.; Arvanitis, Stavros E. Abstract: The purpose of the current research is to develop a strategic service quality focused framework in a Greek Academic Department, translating its service quality (SQ) gaps into specific strategic directions from a “student-focused” perspective. The research is separated in two parts and follows the recommendations of Tan and Pawitra (2001), using various SQ measurement techniques and management tools. In the first part a SWOT analysis is conducted and a SWOT matrix is produced in order to assess the Department’s position, mission and vision as well as to construct the “Academic” questionnaires based on the SERVQUAL method and the Kano’s Model. The proposed questionnaires were applied in 180 undergraduate students. The second part incorporates the Quality Function Deployment (QFD) framework which is able to translate the customers’ voice (WHATs) into specific processes and measurable actions (HOWs), generating a realistic approach for successful management. The incorporation of SERVQUAL-Kano’s model in the QFD rated the importance of the WHATs, identifying the gaps which function as obstacles in the attainment of the Academic Department’s superior SQ. With the assistance of the SWOT matrix the main strategies of the Academic Department were generated, feeding the HOWs in the QFD. According to the findings, through the student priority level of SERVQUAL and Kano model, the most important SQ dimensions were found to be: Facilities/Equipment/Services, Abilities and Capabilities of Faculty, Educational/Course Content and Department’s Reliability and Reputation. Finally, with the assistance of QFD correlations, a set of strategic directions were proposed such as Accredited Programs, Proactive Partnerships with Corporations, Well-Maintained and Attractive Buildings etc. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31004 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31003 Title: House price comovements in the Eurozone economies Authors: Merikas, Andreas G.; Merika, Anna; Laopodis, Nikiforos; Triantafyllou, Anna Abstract: The house price boom in major industrialized countries since the early 1990s has been unprecedented. Co-movement is a key feature of it and it has been attributed by scholars to synchronization of monetary policy, financial liberalization, integration of international financial markets, as well as global business cycle linkages. In this paper we focus on seven European countries, all members of the EMU, and ask the question if, the apparent co movement of the housing prices in the seven major euro zone economies implies convergence of their housing markets. Using monthly data from DSI Statistical Bases for 1990(1)-2009(4), we concentrate on the impact of the adoption of the common currency on real house prices movements. We conduct the analysis using country-specific macroeconomic variables and then extend it by adding foreign-specific macro variables to each country’s model. The empirical analysis includes cointegration analysis and VAR specifications. Our findings suggest that the movement of the housing prices of the euro zone countries apart from the well known fundamentals of GDP, interest rates and stock returns is also based on a number of idiosyncratic and structural factors like demographics, the tax system and government intervention which determine the duration and the strength of the housing cycles in each country. Furthermore, it seems that the degree of convergence underlying housing prices co movement is limited given the diversities in living standards, regulation of property markets, government intervention and attitudes to residential housing. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31003 2012-01-01T00:00:00Z