Investment Perspectives During the Crisis Case Study of Northern Greece: Survey Findings

Journal of Financial Management and Analysis, 28(1) January-June 2015

Posted: 18 Oct 2015

See all articles by Ioannis Lazaridis

Ioannis Lazaridis

University of Macedonia - Accounting and Finance

Efstratios Livanis

University of Macedonia - Accounting and Finance

Vasiliki Pavlidou

University of Macedonia - Accounting and Finance

Date Written: 2015

Abstract

The study presents the main results of our primary research on the investment perspectives of the firms of the Northern Greece. Based on the Greek Population Census 2011, we allotted 300 questionnaires to the regional units of the Northern Greece and then, we distributed them to the biggest – in terms of sales – firms of each regional unit. Our research was conducted face-to-face and via e-mail with the assistance of a research group of the Department of Accounting and Finance of the University of Macedonia during the time period December 2012-January 2013. Greece faces a severe economic depression and investments are considered to contribute to economic growth. Thus, we examine whether the firms intend to make any investments. Furthermore, we attempt to shed some light on the impact of the economic crisis on the firms and on the firms’ reaction, i.e., exports, advertisement etc. The majority of the respondents claimed that was affected in a negative way by the crisis. Moreover, approximately 68 per cent of the respondents neither made an investment during the first half of 2012 nor planned to make an investment in the following six months. Firms located near the Greek borders and also firms with more employees have been less affected by the crisis and are willing more to make new investments. Finally, the vast majority of the respondents are optimistic about the future of their business, even though they believe that the Greek economy will recover at least after three years.

Keywords: Investment perspective; Northern Greece; Severe economic, depression; Employee are less affected

JEL Classification: C42; C82; E22; F34; O52

Suggested Citation

Lazaridis, Ioannis and Livanis, Efstratios and Pavlidou, Vasiliki, Investment Perspectives During the Crisis Case Study of Northern Greece: Survey Findings (2015). Journal of Financial Management and Analysis, 28(1) January-June 2015, Available at SSRN: https://ssrn.com/abstract=2675527

Ioannis Lazaridis (Contact Author)

University of Macedonia - Accounting and Finance ( email )

156 Egnatia Str.
Thessaloniki, 54006
Greece

Efstratios Livanis

University of Macedonia - Accounting and Finance ( email )

156 Egnatia Str.
Thessaloniki, 54006
Greece

Vasiliki Pavlidou

University of Macedonia - Accounting and Finance ( email )

156 Egnatia Str.
Thessaloniki, 54006
Greece

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