Business Management and Financial Challenges in the Contemporary Era of Economic Uncertainty

Cyprus Business and Management Review



The ISSUE 1 centers on examining and addressing the functional areas of business, finance and management studies, concerning both Cyprus and international arena, in the contemporary era of economic uncertainty. The outburst of economic crisis in 2008 which was erupted in the financial sphere and embodied a global scale form marked a series of developments, dynamics and challenges (Orhangazi, 2011). Economic recession, broadening of social imbalances, climate change, global trade volume reduction, inter-state geostrategic antagonisms, technological developments, business re-organization, new market fields, cross-national labor movement and immigration flows synthesize a portrait with aspects to be explored.  In the context of Cyprus, the 2013 financial crisis led to an EU and government proposed bail-in for the banking sector & an economic restructuring (Clerides, 2014), while the natural gas discovered in the hydrocarbon fields offshore Cyprus paves the path for prosperity which can though be hindered by regional geopolitical implications (Ampatzides, 2017). Simultaneously, the citizenship by investment scheme of the Republic of Cyprus reinforced economic growth by attracting investments mainly directed in the construction, real estate and professional services sectors. The scheme has been subject to criticism by international organizations (OCCRP) and local actors for corruption issues, gentrification, high-rent trends and urban planning ramifications. Recent government reforms to the scheme aim to broaden the economic advantages/effects of the programme in order for more sectors to be benefited from it. Under this framework, new forms and models of economic & business organization emerge having entrepreneurship, innovation and start-ups in the epicenter (Matthews & Brueggemann, 2015), businesses adopt revisited organization behavioral approaches, marketing strategies are reshaped, economies aim to invest in alternative sectors and tackle with unemployment rates, social movements thrive to pursue demands and policy re-organization manifest in a plethora of socio-economic aspects.

The papers should attempt to capture the new realities & policies which are being formed and examine both worldwide and local business, economic & management developments resulting from the need to respond to the challenges of the contemporary era. This issue aims to bring together papers from academicians, researchers, practitioners and policymakers and provides an opportunity to publish quality and well-written original research. Papers will be accepted based on originality and their contribution to knowledge.  

Accepted papers will be published in the Cyprus Business and Management Review.

Areas of interest for the issue might include, but are not limited to, the following:

  • Which economic and financial policies were implemented to address economic crisis?
  • How the changes & reforms in the banking and financial sector affect the economic development and production?
  • Which are the repercussions and implications of the Cyprus “investment by citizenship” scheme in terms of economic & social effects?
  • What is the role of Entrepreneurship, Innovation and Start-Up companies in the contemporary emerging economic environment?
  • How technology and dynamics generated by its development reflect on the business growth & organization?
  • Are, and if yes why, new models of business organization, strategic management and human resource management being pursued as a result of the economic crisis?
  • In which manners labor movement in cross-national level and immigration flows consist modes of economic fluidity?
  • Which forms are the marketing strategies taking in the era of both economic crisis and social media emergence as a respective tool?
  • Which role does the international business environment play in the Cypriot economy prospect?
  • Cyprus economy has been for long established as an international business & financial hub. Which impact and to what extend does the aftermath of the 2013 banking crisis leave a footprint on the professional services sector?
  • Geopolitical regional dynamics engage interactively with economic strategies. To what extend are these reflected regionally or/and globally?


Ampatzides, D. I. (2017). “Energy Geopolitics in the South-Eastern Mediterranean: The Ramifications of the Cypriot Energy Policy”, Eastern Mediterranean Policy Note, Cyprus Center for European and International Relations, No. 16

Clerides, S. (2014). “The Collapse of the Cypriot Banking System: A Bird’s Eye View”, Cyprus Economic Policy Review, Volume 8, No. 2, pp. 3 – 35

Matthews, H.C. & Brueggemann, F.R. (2015). Innovation and Entrepreneurship: A Competency Framework. Taylor and Francis: London

Orhangazi, O. (2011). Financial v. ‘Real’: An overview of the contradictory role and place of finance in the modern economy. Research in Political Economy, Volume 27, In: Zarembka, P. & Desai, R. (ed.) Revitalizing Marxist Theory for Today’s Capitalism. Emerald Group Publishing Limited: Bingley