Η επίδραση της χρηματοπιστωτικής κρίσης στην κεφαλαιακή διάρθρωση επιχειρήσεων εισηγμένων στο χρηματιστήριο
The impact of the financial crisis on the capital structure of companies listed on the stock exchange
KeywordsΚατασκευαστικός κλάδος ; Ελλάδα ; Κρίση ; Κεφαλαιακή διάρθρωση ; Αριθμοδείκτες ; Αποδοτικότητα ; Ρευστότητα
ABSTRACT The purpose of this Dissertation is to investigate the course of the Greek construction companies during the crisis. Through the analysis of the companies J & P AVAX SA, GEKTERNA SA, EDRASI-PSALLIDAS SA, EKTER SA and ELLAKTOR SA, the Dissertation attempts to explain how the companies examined face the unstable socioeconomic environment and whether their capital structure was affected. The applied methodology includes quantitative analysis with the collection of secondary data from the published consolidated financial statements and financial ratio analysis for the period 2008- 2017. The Dissertation concludes that the financial crisis has affected the capital structure of Greek construction companies, which significantly increased their loan funds while reducing equity. However, the positive prospects of the Greek economy for the years 2018- 2019 are expected to contribute to the realization of new large construction projects in concert with the improvement of the climate investment as a result of the new development law. The findings of the Dissertation may serve both to the administrations of the construction companies under investigation, as well as the financial analysts, investors, and all stakeholders.