Resumen de Economic crisis and firms’ performance: Empirical evidence for the Greek cheese industry

Achilleas Kontogeorgos, K. Pendaraki, Fotios Chatzitheodoridis

• The main purpose of this paper is to empirically explore the characteristics of the cheese sector that lead businesses in Greece to profitability. It is also important to evaluate the impact of the current economic crisis on the economic performance of cheese enterprises.

  This study uses a panel data set that come from balance sheets and income statements of almost 100 companies operating in the cheese sector for the period 2006 to 2011. The first results show that during this economic crisis period, the profitability of cheese businesses has been affected adversely. Moreover, the smaller sized businesses are presenting the most significant efficiency and profitability losses.