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dc.contributor.authorLoukopoulos, George-
dc.contributor.authorRoupas, Theodoros-
dc.date.accessioned2018-05-31T08:36:50Z-
dc.date.available2018-05-31T08:36:50Z-
dc.date.issued2014-
dc.identifier.citationLoukopoulos, G., & Roupas, T. (2014). Financial analysis of the Greek private health sector over the last decade (2002-2012). European Research Studies Journal, 17(2), 3-19.en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar//handle/123456789/30591-
dc.description.abstractThe purpose of this study is to perform a comprehensive financial statement analysis for Hygeia, the largest Private Health Organization in Greece. In this regard, we employ a variety of theoretically advanced approaches. For instance, DuPont analysis based on the decomposition scheme of Nissim and Penman (2001), shows that the capital structure decisions eroded shareholder profits, and specifically their impact was pronounced after the outbreak of the global financial crisis. Considering the unique operating characteristics of the health sector and the hostile macroeconomic environment, working capital management performed generally well, but with a considerable margin for further improvements, if more responsible policies are followed. What is more, thorough analysis revealed that in the last years operating returns were consistently negative and operating cash return were unable to cover effective interest fixed costs. If the external environment does change favorably and if more importantly, the business model of Hygeia does not focus on significant operating improvements, the long term prospect of the organization may be questioned.en_GB
dc.language.isoenen_GB
dc.publisherUniversity of Piraeus. International Strategic Management Associationen_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectMedical care -- Greeceen_GB
dc.subjectMedical care -- Financeen_GB
dc.subjectBusiness enterprises -- Financeen_GB
dc.subjectFinancial statements -- Greeceen_GB
dc.subjectAssets (Accounting)en_GB
dc.titleFinancial analysis of the Greek private health sector over the last decade (2002-2012)en_GB
dc.typearticleen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.description.reviewedpeer-revieweden_GB
dc.publication.titleEuropean Research Studies Journalen_GB
Appears in Collections:European Research Studies Journal, Volume 17, Issue 2

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