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This study applies to the statistical cost accounting model to capture the impact of the Greek economic crisis on the returns of the Greek construction sector using the published financial statements of the construction firms listed on the Athens Exchange during 2005-2011. The evidence from our analysis suggests that the construction sector has been affected by the Greek crisis since there is a great decrease of the construction activities. According to our results, our findings support the theoretical model and reveals that there is a negative impact on the earnings due to the underemployment of the fixed assets. Additionally, we find that the cash and cash equivalent items do not actually help our sample firms to produce profit and the most expensive item of the balance sheet is the non financial short term liabilities.

The purpose of this study is to investigate the relationship between the profitability of the firm and its R&D expenditures. We separate R&D expenditures in two main categories, R&D that focuses on the product differentiation and R&D that concerns improvements in production process. The latter leads to more efficient production, which can be measured by labour productivity. We estimate our model using cross section analysis and test the significance of each one of rhe R&D expenditures in firms profitability. Our model was applied to the Greek chemical industry, for a data set of 124 enterprises, in two distinct years, 1991 and 2001. Our findings support that the role of productivity is growing within time.