INTERNATIONAL JOURNAL OF SUSTAINABLE ECONOMIES MANAGEMENT

April-June 2013, Vol. 2, No. 2 Table of Contents

Special Issue on Advanced Techniques in Financial Risk Management Guest Editorial Preface

iv Costas Cantzos, Department of Accounting, Technological Educational Institute of , Aigaleo, Constantin Zopounidis, Department of Production Engineering and Management, Financial Engineering Laboratory, Technical University of Crete,Chania, Greece & Audencia Group- Nantes School of Management, France

Research Articles

1 Macroeconomic Factors and Company Value in the Context of the Ohlson Residual Income Valuation Model: Empirical Findings from Greece Konstantinos Vergos, Department of Accounting and Finance, University of Portsmouth, Portsmouth, UK Apostolos G. Christopoulos, Department of Economics, University of , Athens, Greece Vasilios Kalogirou, National Technical University of Athens, Athens, Greece

12 How Financial Crises Aff ect FDI and Related Macroeconomic Variables: AMOS Analysis for Selected Mediterranean Countries Rukiye Ceyda Üvez, Marmara University, Kadıköy, Aslı Aybars, Marmara University, Kadıköy, Turkey

22 A Multivariable System Approach for the Assessment of the Infl uence of Fiscal Policy to Business Cycle Shocks Iraklis Kollias, Department of Economics, National and Kapodistrian University of Athens, Athens, Greece John Leventides, Department of Economics, National and Kapodistrian University of Athens, Athens, Greece

48 Creativity and Cultural Capital in the Periphery Evidence from Two Greek Cities Dimitrios Stavroulakis, Department of Accounting, Technical Educational Institute (TEI) of Piraeus, Athens, Greece Roido Mitoula, Department of Home Economics and Ecology, Harokopion University, Athens, Greece Panagiotis Kaldis, Department of Oenology and Beverage Technology, Technological Educational Institute (TEI) of Athens, Athens, Greece Aristides Papagrigoriou, Department of Tourism Management, Technical Educational Institute (TEI) of Piraeus, Athens, Greece

70 Does Audit Quality Infl uence the Relation between Earnings Management and Internal Control Weakness in the Post –SOX Period Judith van Ravenstein, PricewaterHouseCoopers, Amsterdam, Netherlands Georgios Georgakopoulos, Department of Financial Accounting, University of Amsterdam, Amsterdam, Netherlands Petros Kalantonis, Department of Financial Accounting, Technological Education Institute (TEI) of Piraeus, Athens, Greece Panagiotis Kaldis, Department of Applied Economics and Marketing, Technological Education Institute of Athens, Athens, Greece

Copyright The International Journal of Sustainable Economies Management (IJSEM) (ISSN 2160-9659; eISSN2160-9667), Copyright © 2013 IGI Global. All rights, including translation into other languages reserved by the publisher. No part of this journal may be reproduced or used in any form or by any means without witten permission from the publisher, except for noncommercial, educational use including classroom teaching purposes. Product or company names used in this journal are for identification purposes only. Inclusion of the names of the products or companies does not indicate a claim of ownership by IGI Global of the trademark or registered trademark. The views expressed in this journal are those of the authors but not neccessarily of IGI Global

The International Journal of Sustainabale Economies Management is currently listed or indexed in: Bacon’s Media Directory; Cabell’s Directories; Google Scholar; IndexCopernicus; JournalTOCs; MediaFinder; RePEc; The Standard Periodical Directory; Ulrich’s Periodicals Directory