Summary:
The topic of this dissertation has to do exclusively with internal determinanats of firms’ profitability during crisis period. Such internal determinants include both financial ratios of leverage, liquidiy, profit margin, assets and cost efficiency and size, and corporate governance mechanins of Board of Directors, Auditt Committee and External Audit.
In a sample of 127 listed firms in Athens Stock Exchange, it was investigated which financial ratios and which corporate governance mechanisms affect profitability on the short-run and on the long-run. Results showed that, On the short-run, profitability is affected by leverage, with a scheme U relationship, by liquidity, with a scheme of inverted U relationship, positively from assets and cost efficiency, positively from size, with a scheme inverted U from BoD size, negatively from BoD independence, negatively from number of meeting of audit committee and negatively from external audit from big4.
On the long-run, profitability is affected positively by leverage, , positively by liquidity, positively from assets and cost efficiency, negativel from size, with a scheme U from BoD size, negatively from CEO duality, negatively from number of meeting of audit committee and positively from external audit from big4.
Keywords:
Profitability, crisi, financial ratios, corporate governance
