Η επίδραση της χρηματοδότησης στην αποδοτικότητα των οικονομικών μονάδων
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Keywords
Μη συμμετρική συμπεριφορά του κόστους ; Χρηματοδότηση ; Μεγάλες διεθνώς εισηγμένες εταιρείεςAbstract
This diploma thesis aimed to study and investigate the impact of financing on
the efficiency of economic units. The paper was organized into two main parts:
the theoretical, which focuses on the theoretical analysis of the issue, and the
research, which empirically examines this relationship. In the research part,
data were collected from 3,893 large international listed companies for the
period 2013-2017, which were initially analyzed with SPSS, while the final
conclusions were based on Excel and EViews. The analysis showed that the
1st research hypothesis is not confirmed, as the values of the indicators are
positive on average, suggesting positive cost asymmetry (right asymmetric
behavior). Therefore, costs do not increase more for a percentage increase in
activity than they decrease for an equivalent decrease, contrary to findings of
previous studies. Also, the 2nd hypothesis is not confirmed because asset
intensity is not positively related to asymmetric cost behaviour but negatively,
as indicated by the negative sign of the regression factor. This means that as
asset intensity increases, the asymmetry in cost behavior decreases, contrary
to findings from previous studies. Finally, in the 3rd research hypothesis,
positive asymmetric cost behaviour was found, suggesting that debt intensity is
not negatively associated with asymmetric cost behaviour. On the contrary, the
analysis showed that the more debt intensity increases, the greater the
asymmetry, contrary to findings of previous studies. This finding confirms the
exogenous effect of financing or borrowing on cost changes. To sum up, the
survey concluded that financing, especially through increased debt intensity, is
associated with positive cost asymmetry. Despite the limitations, the results
offer new perspectives for understanding the relationship between financing
and costs, and further studies are proposed to deepen the investigation of the
issue.
Postgraduate Studies Programme
Πρόγραμμα Μεταπτυχιακών Σπουδών στη Διοίκηση Επιχειρήσεων για Στελέχη (Executive MBA)Department
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οργάνωσης και Διοίκησης ΕπιχειρήσεωνNumber of pages
71Language
GreekCollections
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Αναφορά Δημιουργού-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Όχι Παράγωγα Έργα 3.0 Ελλάδα