By Nikolas Kelpekis*


The investment climate depends on two factors: the investment environment and investment psychology. The first depends on exogenous factors -either, not or partially controllable- while the second has a subjective nature, related to the internal climate and the mentality of the executive managers. Most, most often, see and consider only the first, without including the decisiveness of the second in making (or not) investment decisions.

Yet, in the economic reality, there are not only external opportunities and threats. There are also internal strengths and weaknesses. So, some others face the macroenvironmental crises strongly, in the microenvironment of their enterprises. Some “heretics” even dare to believe that the crisis is the best time to invest!

And you? How is your psychology? Fighter or defeated?