Author/Authors :
Eriotis، Nikolaos نويسنده Ass. Professor of Accounting, National and Kapodistrian University of Athens, 5 Stadiou Street, GR ? 105 62, Athens, Greece Eriotis, Nikolaos , Poutos، Evangelos نويسنده Adjunct Lecturer of Accounting, National and Kapodistrian University of Athens, 5 Stadiou Street, GR ? 105 62, Athens, Greece Poutos, Evangelos , Retsinis، Evgenios نويسنده Analyst, MBA in Engineering - Economic Systems, N.T.U.A., 23 Loid Tzeorge Street, GR ? 117 44, Athens, Greece Retsinis, Evgenios , Vasiliou، Dimitrios نويسنده Professor of Bank Management, Hellenic Open University, 57-59 Bouboulinas Street, GR ? 262 22, Patra, Greece Vasiliou, Dimitrios
Abstract :
The present study analyzes the impact of the Greek economic crisis on the construction industry, using variables which depict both the Greek economic environment and the corporate income � expenditure management by the Greek construction firms. We hypothesize that in a weak economic environment, with negative perspectives, the earnings of the companies traded in the economy are affected by both corporate parameters and the general countrys economic trend. Our findings support this hypothesis, since the earnings of the firm are affected by the firms efficient income � expenditures management and by the countrys economic environment. Furthermore, our analysis shows that the gap between operating income and operating expenditure acts as a pillow when economy shrinks. In the Greek case it seems that this gap was not enough to absorb the negative effect of the Greek economic crisis on the construction sector, which now faces negative results.
