The sticky cost on Greek food, beverages and tobacco limited companies

The cost behavior is one of the most important aspects of the analysis of businesses profitability. The traditional model of study of its behavior requires strict proportion with the level of activity, something that is not shared by modern studies. To better understand the behavior of asymmetric cost, our work examines the behavior of the Greek retail food, beverages and tobacco companies. We studied 438 limited companies for a period of 12 years and noticed that a 1% increase in sales leads to an increase of 1.011% of the cost, while the corresponding reduction lowers the cost of sales by 0,905%. The industry addressed by our study, has a direct relation to all households. So it is important that the industry, be studied further in order to give more opportunities and benefits for consumers and state. Finally, future studies can use our study in an attempt to better understand the behavior of asymmetric costs.peer-reviewe

The Effects of Commodities and Financial Markets on Crude Oil

Investigating crude oil price volatility is crucial, because crude oil price certainly affects the economy through many channels. This study applies a Vector Auto Regression (VAR) model to examine the impact of crude oil market on basic commodities, financial markets and industrial production. We find that the production in the US economy has an important effect on the crude oil prices. In addition we noticed a higher increase in crude oil price volatility after a large negative shock, contrary to a large positive one. Also, it was found that, in the short-run, oil price volatility is not influenced by short-run interest rates or industrial production. An adverse linkage between crude oil prices and industrial production has been proved confirming the economic theorists claiming that there is a close linkage between oil price shocks and economic activity. Finally, our findings indicate that there is Granger causality between crude oil and the endogenous variables used in the Granger causality framework