Exploring the effects of firm and product characteristics on cost system’s features

The present study examines the associations between the various factors which are related to the process of assigning the production cost (direct and mainly indirect) to different cost objects. In particular, the focus is on detecting the relationship between the costing choices used, which specify the implementation of the costing process in practice, with the main characteristics of the firm and the products produced. The results suggest that, in Greece, the implementation of the costing process takes place in rather traditional contexts, maintaining a relatively modest, in complexity, costing system. The differences found in the cost structure and the characteristics of the products are not expected to cause significant difficulties in the cost allocation and the assignment process. As expected, a positive correlation has been found between the size of the firm and the level of detailed recording of costing related information. The argument that the diversification of the production process, as determined by the large number of products being produced, creates a need for more accurate and detailed cost recording system is also supported. Finally, findings suggest that there is a negative correlation between the use of different allocation methods’, for both internal and external accounting reports.peer-reviewe

Intelligent Stock Portfolio Management Using a Long-Term Fuzzy System

The complexity of financial markets is driving researchers to multiply their efforts in order to improve their forecasting methods. This paper inoculates an old trading strategy with fuzzy subjective elements. The aim is to investigate whether the careful synthesis of a few long-term technical indicators, which have a different predictive philosophy, with an appropriately designed stock trading Mamdani fuzzy system, can produce satisfactory returns. More specifically, its purpose is to investigate whether the combination of moving averages, directional movement technical indicators and a fuzzified trading strategy can surpass the performance of buy and hold strategy (B&H). The proposed model has been tested in various (bull and bear) market environments for a period of more than 15 years, using the general index of ASE (Athens Stock Exchange). After taking into consideration transaction costs, it is found that the proposed model can produce better results (higher earnings) than the B&H strategy

Business outsourcing and organisational performance: the case of the Greek hotel industry

The adoption of the outsourcing strategy for services and products is expanding rapidly worldwide. The strategic character of outsourcing has led many hotels in Greece to appreciate its significant role in the pursuit of improved performance. This study empirically investigates the outsourcing strategy adopted by Greek hotels. The research models were validated, using data collected from 106 questionnaires, completed by Greek hotel managers. It is found that hotel managers believe that outsourcing has a clear, significant and positive influence on achieving operational objectives such as financial and flexibility improvements, access to new managerial and sourcing methods and quality improvements. In addition, the impact of outsourcing on organisational financial and non-financial performance, from the aspect of the strategic value of the activities, is also examined. Surprisingly, the results indicate that there is no evidence supporting the existence of a significant direct effect of outsourcing on the performance of hotels in Greece. Hotel managers, therefore, should realise that outsourcing is a tool that is used sensibly it can help hotels improve specific activities and achieve some, mainly non-financial, targets. Further research should attempt to led some light on the conditions under which outsourcing of specific activities can enhance hotels' performance

The evolution of costing during the period 1985-2015: Progress or inactivity?

Purpose – This paper examines the evolution of costing process during the past thirty years. More specifically, the technological developments that have affected industrial firms are analysed, focusing on the type of production and the innovations that have been developed and affected costing related issues. Additionally, the creation of a new framework is examined, focusing on costing information that could be useful for making business decisions. Design/methodology/approach – A field survey was conducted on a sample of Greek manufacturing firms. A structured questionnaire was used as a research instrument for collecting primary data. It was constructed incorporating questions used by similar surveys reported in the relevant literature. Findings –The use of cost information for short-term decisions is prevailed over long-term (strategic planning decisions, evaluation of alternative options for the design or production of goods, product mix determination, introduction of new products), while the examination of the cost structure showed that the proportion of fixed cost covers almost 50 per cent of the total cost (fixed and variable) for most of half firms. Additionally, the proportion between direct and indirect production costs revealed that 76.8 per cent of the firms estimate that their direct costs would be up 80% of their total cost. Research limitations/implications – The omission of other important factors and the relation between specific factors such as firm’s size, industry sector and decision making process should be considered as well as the differentiation of the results according to the industry sector, or due to different costing purposes. Originality/value – This is one of the few studies exploring the costing practice implemented by Greek industrial firms. The analysis of the findings shows that despite the technological developments that affected the costing area and the criticisms concerning the limitations of the traditional costing approaches, they are still predominant

Using a modified technology acceptance model in hospitals

The use of information technology in the health care sector and especially in hospitals offers great potential for improving the quality of services provided and the efficiency and effectiveness of the personnel, but also for reducing the organizational expenses. However, the main question that arises according to the literature is whether hospital personnel are willing to use state of the art information technology while performing their tasks. This study attempts to address this issue by developing and testing a modified technology acceptance model taking into consideration other relevant models found in the literature