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The Impact of the Recent Economic Crisis in the Construction Sectors of the South-European Economies: A Comparative Study

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  • Efthimios Nikolakopoulos

    (DeGroote School of Business, McMaster University, Hamilton, Canada)

  • Nikolaos Karaliotas

    (School of Applied Mathematical and Physical Sciences, National Technical University of Athens, Athens, Greece)

  • Efstathios Benetatos

    (School of Applied Mathematical and Physical Sciences, National Technical University of Athens, Athens, Greece)

Abstract

The scope of this paper is to investigate the performance of listed companies of the construction sector in the southern European member state of the E.U., namely Greece, Italy, Portugal and Spain, taking into consideration their economic conditions as they have been formed by the recent economic crisis. The structure of the proposed methodology is based on a non-parametric method of DEA. Initially, it is attempted to compare the listed construction companies of each country and then findings are explained in order to draw comparative conclusions of their performance on a cross country basis. By using statistical regression methods, in the second stage of investigation is attempted for possible correlation between each country's efficiency scores and a group of key macroeconomic variables which can show the possible changes in the effects of crisis between the countries under examination.

Suggested Citation

  • Efthimios Nikolakopoulos & Nikolaos Karaliotas & Efstathios Benetatos, 2015. "The Impact of the Recent Economic Crisis in the Construction Sectors of the South-European Economies: A Comparative Study," International Journal of Corporate Finance and Accounting (IJCFA), IGI Global, vol. 2(2), pages 59-89, July.
    • Handle: RePEc:igg:jcfa00:v:2:y:2015:i:2:p:59-89
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