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Firms’ Profitability in the Period of Crisis: Evidence from Greek Food and Beverage Listed Firms in the Athens Stock Exchange

In: Operational Research in Agriculture and Tourism

Author

Listed:
  • Konstantina Panagiotakopoulou

    (Harokopio University)

  • Petros Kalantonis

    (University of West Attica)

  • Panagiotis Kaldis

    (University of West Attica)

Abstract

Food and beverage industry has a fundamental role in the Greek manufacturing sector and also for the Greek economy. Even in the period of economic crisis the food and beverage industry has demonstrated competitiveness extroversion and dynamic development in Greece and also in the global market. This study investigates the impact of economic crisis on F&B firms’ profitability and value. We explored the listed F&B firms in the Athens Stock Exchange for the sub periods before and during the crisis. We found evidence that F&B firms’ profitability has been affected by the economic crisis, however, their book and market value doesn’t seem to be significantly affected. Also impact of crisis on the relationship between the debt and profitability has been detected.

Suggested Citation

  • Konstantina Panagiotakopoulou & Petros Kalantonis & Panagiotis Kaldis, 2020. "Firms’ Profitability in the Period of Crisis: Evidence from Greek Food and Beverage Listed Firms in the Athens Stock Exchange," Cooperative Management, in: Evangelia Krassadaki & George Baourakis & Constantin Zopounidis & Nikolaos Matsatsinis (ed.), Operational Research in Agriculture and Tourism, pages 67-82, Springer.
  • Handle: RePEc:spr:comchp:978-3-030-38766-2_4
    DOI: 10.1007/978-3-030-38766-2_4
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