Εμπειρική διερεύνηση της αξίας και τιμής των τραπεζών και εταιρειών στα χρόνια της οικονομικής ύφεσης.
Empirical research on the value and the price of banks and companies in the years of economic recession
View/ Open
Subject
Οικονομία -- Ελλάδα ; Οικονομικές κρίσειςAbstract
The financial crisis which burst during 2007 in the United States of America is still under evolution as at a first stage it has affected the economy of the relevant country but it was also evolved into a large financial crisis which through the connections of the markets has negatively influenced the global economy. For its confrontation, the majority of the governments took outrageous measures with massive interventions, not only for the provision of the liquidity but also to secure the banks and the insurance companies which went bankrupt.
In the first chapter, the recent economic crisis is described, which has started from the market of the mortgages with low ensuring at the United States of America, and the same time the reasons which led to this crisis are examined.
The main axis of the current thesis is the financial crisis, or crisis of dept as it is described in Greece. The second chapter includes a review of the economical data of our country until the appearance of the global crisis and the economical weaknesses which led Greece to participate in the common stability mechanism.
The Greek economy is already in a course of a painful and compulsory change. Into the whirl of the crisis, in the third chapter the consequences, which this crisis brought to the banking system and to the Greek enterprises, are analytically described. During this chapter, a theoretical overview follows of the banks and of Greek companies, with which the study of the current paper is carried out. Analytically, the banks that are utilized in this specific research are «Alpha Bank», «Attica Bank», «The National Bank of Greece», «Piraeus Bank» and «Eurobank». Moreover, the companies which participated are respectively «ELPE S.A.», «ELVAL S.A.», «TITAN S.A.», «CHALKOR S.A.» and «ELLAKTOR S.A.».
Finally, the last chapter with the use of the statistical program STATA and the conduction of the necessary regressions, surveys through the correlation of the banks stocks' performance and of the companies with the performance of the General Stock Index and the systemic danger that banks' and companies' stocks carry with them during the years of recession.