Winemaking Sector in Greece. An Accounting - Based Approach

International Journal of Corporate Finance and Accounting (IJCFA), Vol 6, Is 2, pp 1-17 DOI: 10.4018/IJCFA.2019070101, 2019

17 Pages Posted: 3 Aug 2019 Last revised: 8 Jan 2021

See all articles by Spyros Papathanasiou

Spyros Papathanasiou

National and Kapodistrian University of Athens

Drosos Koutsokostas

National and Kapodistrian University of Athens

Dimitris Balios

Independent

Nikolaos Eriotis

National and Kapodistrian University of Athens

Date Written: July 26, 2019

Abstract

The wine making sector is directly intertwined with viniculture, which has been known since ancient times. Nowadays, Greece offers outstanding value for its wines and there are many new varieties that will certainly expand the customer's palate. In order to explore the sector's potential, financial statements and ratio analysis is implemented. In this study, 14 financial ratios are estimated in order to examine the domestic wine sector. This sample consists of 51 domestic wine producing companies. The uniqueness of this analysis is based on the fact that the individual financial reports are edited and properly adjusted in order for a consolidated balance sheet and profit and loss account, representative of the sector, to be constructed. The wine sector's perspective seems conducive to better control regarding primarily operating expenses. The findings could aid producers in the Greek wine industry in providing them valuable considerations and guidelines. The wine market is considered as an enjoyable, collectible, tangible asset that has an exciting future.

Keywords: Winemaking Sector, Greece, Ratio Analysis, Alternative Investments

JEL Classification: M41, L66, G11

Suggested Citation

Papathanasiou, Spyros and Koutsokostas, Drosos and Balios, Dimitris and Eriotis, Nikolaos, Winemaking Sector in Greece. An Accounting - Based Approach (July 26, 2019). International Journal of Corporate Finance and Accounting (IJCFA), Vol 6, Is 2, pp 1-17 DOI: 10.4018/IJCFA.2019070101, 2019, Available at SSRN: https://ssrn.com/abstract=3427143

Spyros Papathanasiou (Contact Author)

National and Kapodistrian University of Athens ( email )

1, Sofokleous Str.
Athens, 10559
Greece

Drosos Koutsokostas

National and Kapodistrian University of Athens ( email )

5 Stadiou Strt
Athens, 12131
Greece
10679 (Fax)

Dimitris Balios

Independent ( email )

Nikolaos Eriotis

National and Kapodistrian University of Athens ( email )

5 Stadiou Strt
Athens, 12131
Greece

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
188
Abstract Views
1,459
rank
199,607
PlumX Metrics