Hellenic Open University Conferences, International Conference on Business & Economics of the Hellenic Open University 2016

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Research on financial implications for businesses operating in a crisis environment, the example of Greece

##manager.scheduler.building##: Titania
##manager.scheduler.room##: Socratis
Date: 2016-04-23 02:00 PM – 04:00 PM
Last modified: 2016-05-25


Considering that the Greek economy is in crisis, it is important to explore if there are economic consequences for Greek enterprises. In this study will be a statistical review on the behavior of firms that publish their financial statements in Greek Accounting Standards (GAAP). In order to present the differences in economic behavior of firms, both before and during the crisis, a sample of 750 companies with the biggest sales operating in Greece from 2006 until 2014 has been selected. Studying this sample we present a comparison of change in the economic - financial situation of this enterprises based on financial ratios and the Altman z-score. The results of this research confirm that the Greek companies using GAAP, have been affected by the economic crisis in Greece.


Financial Crisis, Financial Risk and Risk Management, Bankruptcy, Accounting.

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