633 research outputs found
Sort by
Managerial Accounting in the greek hotel sector through viability and profitability
Get PDFWorking paperThis study examines the financial analysis of the hotel sector in Greece and specifically the evaluation of Viability and Efficiency of hotels belonging to all categories, which are compelled to keep tax books of C’ category.
The Viability and Efficiency of the hotels in Greece are estimated for the financial years 2005, 2006 and 2007. The study is grounded entirely on primary data collected from the financial statements of hotel enterprises, of 2, 3, 4 and 5 stars, from the entire territory of the country. The sample selected is 146 hotel enterprises allowing the procession of 438 financial statements in total, since the research included statements from three consecutive economic years.
The relation of the indices’ means for the four categories of hotels was investigated, in order to reveal whether probable differences in the results attributed to the categorization of the hotels. Besides, an examination was realized between the Means of the indices within the same categories of hotels. The statistical method of fluctuation analysis that was applied for the control in the Means’ differences is the “one way analysis of variance”, abbreviated “one way anova”.
The research reveals useful conclusions concerning the Viability and the Profitability of the Greek hotels by category in stars. The results indicated that between the Means of almost all financial indices which were examined, excluding those of Gross Profit Margin and Net Profit Margin, there is statistically a significant difference.
Additionally, a large percentage of lending capital by 5* hotels is resulted in relation to the rest of the categories for all the years under investigation, while short-term liabilities decrease as the hotel category gets higher. 5* hotels show larger Net profits than the hotels of the other categories, while 4* hotels show a higher Operational cost than hotels of 2 and 3*. With the exception of 5* hotels, the Financia
Fighting the financial crisis with alternative forms of energy in the household economics.
No full textABSTRACT
We analyze how to fight the financial crisis at the level of Household Economics, by adopting environmental friendly alternative forms of energy, that reduce the CO2 emissions, and the cost of living. The value of such green solutions is multiple: at the level of a better and healthier quality of life, at the level of planetary global climate crisis, and at the level of Household Economics. We utilize a specially coded simulator to represent the randomness of the input solar radiation variance both seasonally and as 11 years solar sunspot cycle, so as to calculate the financial risk of the household income. We propose new Bank’s financial products that link the solar energy income with the house mortgage payments. The solar energy alone as investment it is approximately a 57% rate of return on equities or 20% internal rate of return. If binding it with purchasing of the house, it can buy about 30% of the house
Knowledge economy in next generation enterprise environments
No full textIn the post-crisis era,the world economy will be transformed into a knowledge economy, as the appropriate application of knowledge will be the main means of production, since the availability of traditional resources such as labour, capital and raw materials has already been limited. Thus, knowledge economy is of paramount importance in designing successful enterprise environments. Recycling and amalgamating knowledge are the main economic activities, the results of which will maximize in short terms the productivity values of any organization.
In this paper, the Next Generation Enterprise Environments are defined as those that inherently exhibit intelligent behaviour and adaptive functionality, which is achieved by analyzing the asset factors that lead the knowledge of such environments to be transformed from implicit to explicit. An innovative approach is proposed, based on ontologies and ontology alignment, since they provide means for explicit and formal representations of knowledge and ways of harmonically interrelating them
Taxation and competitiveness in hotel branch: The case of 4 and 5 star hotels of Kos island, Greece
No full textThe present paper investigates and evaluates all kinds of taxes, municipal dues and
other tax charges imposed on the hotel businesses, and determines the influence of
taxes to the hotel competitiveness.
This research goal is pursued, with the implementation of a methodological frame for
the definition and assessment of taxes, fees and other charges, regarding four and
five-star hotels on the island of Kos, by means of a suitably structured questionnaire
and an interview.
Based on the empirical results, our analysis reveals the great size of tax charges
imposed to hotel sector, noting they also have a non-reciprocal nature regarding the
hotels.
Furthermore, the research on a theoretical basis, suggests ways of obliteration
obstacles and forwarding the development of hotels such as: tax facilitations,
reduction of bureaucracy, abolition of certain municipal dues and charges and their
incorporation as a percentage form into the hotels profits.
Finally, alternative policies for improved structural programming and effective
application of a tax policy are suggested, along with the improvement of the provided
services quality and the creation of competitive advantage in the hotel branch
How can greek multinational companies attain competitive perspective in international business environment?
No full textThe international business environment is primarily influenced by increased international competition, growing trend of the market globalisation, dramatically fragmented and short innovation cycles, as well as duration and size of financial depression. Behind these cliches and too often uncritically used slogans, a complex web of factors emerges that typically cause conflict and often changing relationships. These conditions give rise to an in-depth investigation of business landscape in all its aspect, whereas a possible end of this effort is not yet visible. In the present, as in the near future not all the multinational companies will be affected by the trend of globalisation. Ultimately, customer as well as market decides about the extent of globalisation apparent. International competition not as an individual apparent, but as one concerning whole enterprise, requires above all a high degree of management efficiency and structural design. It is up to leaders of these companies as well as institutions involved (such as State, Union Labors, etc.) to essentially engage with existing contradictions in terms of a reasonable strategy
Οι αναβαλλόμενοι φόροι στις χρηματοοικονομικές καταστάσεις των ελληνικών τραπεζικών ομίλων και η σημασία τους στην οικονομική ανάλυση.
No full textΠερίληψη
Η παρούσα εργασία έχει ως σκοπό να διερευνήσει τις μεταβολές που επιφέρει η εφαρμογή του Διεθνούς Λογιστικού Προτύπου 12 (ΔΛΠ/IAS 12) - Φόροι Εισοδήματος στις χρηματοοικονομικές καταστάσεις των εισηγμένων στο ΧΑΑ εταιρειών του Τραπεζικού κλάδου. Χρησιμοποιώντας δεδομένα των εταιρικών χρήσεων 2004 - 2009, εστιάζουμε στην επίδραση των κονδυλίων της “Αναβαλλόμενης Φορολογίας” στη χρηματοοικονομική θέση, την κερδοφορία, και τις αποτιμήσεις των εταιρειών του τραπεζικού κλάδου. Διαπιστώνεται ότι οι “Αναβαλλόμενοι Φόροι” ως στοιχείο του Ενεργητικού, αντιπροσωπεύουν κατά μέσο όρο το 10,39 % των ιδίων κεφαλαίων των τραπεζών, ενώ αντίθετα ως στοιχεία του Παθητικού δεν ξεπερνούν το 1%. Από την εφαρμογή της μεθόδου της εκτιμητικής διαστημάτων εμπιστοσύνης, προκύπτει ότι οι αναβαλλόμενοι φόροι ως ποσοστό των τελικών αποτελεσμάτων, είναι κατά μέσο όρο 10,10%, με διάστημα εμπιστοσύνης κατά 98% πιθανότητα, από -47,94% έως 68,14% και οι αναβαλλόμενοι φόροι του Ισολογισμού ως ποσοστό των ενοποιημένων ιδίων κεφαλαίων είναι κατά μέσο όρο 10,58% με διάστημα εμπιστοσύνης κατά 98% πιθανότητα, από –4,93% έως 26,10%. Από τα αποτελέσματα της εμπειρικής έρευνας δεν διαπιστώνεται ύπαρξη γραμμικής σχέσης μεταξύ των μεγεθών της αναβαλλόμενης φορολογίας και της χρηματιστηριακής τιμής των μετοχών των Τραπεζών
A logistic regression model for the determination of the predictive factors for the demand by customers of bank loans in Greece
No full textCommercial Banks need to determine the factors that customers base their
decision to receive loans from them. This is appropriate for developing
successful marketing strategies. A general population sample of Greek citizens
was chosen to examine this aspect. We present the results of a sample survey
on 277 citizens. Our instrument was validated through confirmatory factor
analysis, which presented good fit. Binary logistic regression showed that
significant predictors of taking loans were Personal Marital Status, Customer
service, shop design (number of ATM MACHINES, bank branches and
personnel education) and Interest Rates whose odds ratios were all significantly
above 1. These results have important implication for bank managers who
should focus giving loans to single individuals as well as change their interest
rates policy by decreasing the rates for all kinds of loans, especially housing
loans. Through this they will achieve creating a more sensitive image to calls
for a more balanced and fair social policy pursued by the banks
The intellectual entrepreneur - Vision or fiction
No full textThe recently "produced" entrepreneurial discussion let us believe that everything
human beings are doing can be apostrophed as "entrepreneur". We know already a
capitalistic entrepreneur, a policy entrepreneur, a social entrepreneur, a knowledge
entrepreneur, an intellectual entrepreneur and the "to be continued" entrepreneur. It is
almost a world full of entrepreneurs, an entrepreneurial paradise on earth offered at
discount prices. And the "non-plus-ultra" is that this takes place midst in an uprising world
crisis. Is this entrepreneurial phenomenon a possible explanation for an entrepreneurial
euphoria or for an entrepreneurial phobia? Are we running behind a true vision or are we
dazzled by a (science) fiction? Historically the classic entrepreneurial paradigma
presupposes alertnessand exploitation of exogenous termed opportunities as common to all
economic agents in the market place. In fact it is commonly known that in the recent days
the traditional entrepreneurial paradigma undertakes among researchers and practitioners a
shifting from the more classical to a more knowledge (intellectual capital) based
paradigma. This shifting is addressing as a more "do it smart" and less as a "do it hard"
business philosophy. It is obviously a shifting from plutocratic concept of possessing to a
gnosiocratic human determined value added growth model, whereby intellective
(episteme) and agentive (techne) entrepreneurial elements confound the new potential for
the firm's source of competitive edge. Through the above mentioned syncrasis of human
centered cognitive elements (intellective and agentive) the entrepreneurial corporate
becomes a non-imitational, learning (perceptive), adaptive (modulating), creative
(demodulating) and cooperative (transferring) ^intellectual entrepreneur». In this way the
entrepreneurial syncrasis of the firm's tangible resources like physical, technological and
financial capital with the firm's intangible (Learning Capital- LC, Modulation Capital -
MC, Demodulation Capital - DC, Transfer Capital - TC) resources, the intellectual
entrepreneurial capital (IEC), "produces" not just tangible products but endogenous
determined teleological-intellective-agentive entrepreneurial competence and expertise
system, which leaves its "fingerprints" into the firm's "intellectual statements"
Η χρηματοοικονομική και λειτουργική κατάσταση των δημοσίων επιχειρήσεων και οργανισμών: Η περίπτωση της Ελλάδας
No full textΟι δημόσιες επιχειρήσεις και οργανισμοί (ΔΕΚΟ) αποτελούν σημαντικά εργαλεία παραγωγής δημοσίων αγαθών με στόχο την προώθηση της κοινωνικής συνοχής προς όφελος του δημόσιου συμφέροντος, της οικονομίας και των πολιτών. Δεδομένου ότι τα οικονομικά αποτελέσματα των δημοσίων επιχειρήσεων επηρεάζουν βασικά μεγέθη της ελληνικής οικονομίας όπως το έλλειμμα και το δημόσιο χρέος, την απασχόληση, τις επενδύσεις και το ρυθμό της οικονομικής ανάπτυξης, το άρθρο αυτό εξετάζει και αναλύει την χρηματοοικονομική και λειτουργική κατάσταση των ΔΕΚΟ. Σκοπός του άρθρου αυτού είναι η ανάλυση των λογιστικών καταστάσεων των ΔΕΚΟ κατά την περίοδο της τρέχουσας οικονομικής κρίσης, προκειμένου να διεξαχθούν χρήσιμα πορίσματα σχετικά με τη διάρθρωση των κεφαλαίων τους, την κερδοφόρα δυναμικότητα τους και το ρόλο τους μέσα στην οικονομία. Τα αποτελέσματα μας έδειξαν ότι σήμερα παραμένουν στο ελληνικό κράτος μια σειρά από επιχειρήσεις, περί τις πενήντα δύο, με συνολικές ζημίες το εννιάμηνο του 2010 περίπου 563 εκατομμύρια Ευρώ. Από τις σαράντα μία επιχειρήσεις, οι μισές περίπου είναι κερδοφόρες, αλλά τα συνολικά κέρδη τους είναι πολύ μικρά για να αντισταθμίσουν τις μεγάλες ζημίες που προκαλούνται από τις ζημιογόνες επιχειρήσεις
Financial structure and profitability analysis of greek hotels
No full textThis study examines the financial structure and profitability of various categories of Greek hotels for the 2005-2007 period, three years following the 2004 Olympics in Athens and just before the 2008 economic crisis in Greece. The research sample consisted of 146 private two, three, four and five star hotels. Various ratios relevant to the financial structure and profitability of hotels were explored. Results revealed significant differences in the means of most financial ratios of the four Greek hotel categories, except for some ratios such as gross profit margin and net profit margin. Five star hotels in Greece recorded larger net profits and used a larger percentage of lending capital relative to hotels in other categories. While four star hotels in Greece registered significantly higher operating costs relative to hotels with two or three stars, short term financing seemed to decrease for hotels with more stars. As such, the financial attributes of hotels in Greece are better understood