The agriculture sector has long been one of Greece's most important production sectors. Its significance is multifaceted, affecting both the economy and Greek society. Agriculture plays a critical role in rural development. Although the agricultural sector's involvement in the Greek economy has declined dramatically in recent years, it remains high when compared to other EU member states. This article investigates the relationship between Greece's GDP and the agricultural, industrial, and service sectors from 1996 to 2020, including the financial crisis and the pandemic COVID-19 era. In Greece, there is a negative association between GDP and agriculture, whereas industry and services appear to be positively related to the country's GDP. JEL Classifications: O12, O5, O5 Key words: Primary Sector, GDP, Economic Growth
{"title":"The Impact of the Primary Sector on GDP of Greece, An Econometric Approach","authors":"Sofia-Elvira Galazoula, K. Toudas, P. Boufounou","doi":"10.12681/icbe-hou.5347","DOIUrl":"https://doi.org/10.12681/icbe-hou.5347","url":null,"abstract":"The agriculture sector has long been one of Greece's most important production sectors. Its significance is multifaceted, affecting both the economy and Greek society. Agriculture plays a critical role in rural development. Although the agricultural sector's involvement in the Greek economy has declined dramatically in recent years, it remains high when compared to other EU member states. This article investigates the relationship between Greece's GDP and the agricultural, industrial, and service sectors from 1996 to 2020, including the financial crisis and the pandemic COVID-19 era. In Greece, there is a negative association between GDP and agriculture, whereas industry and services appear to be positively related to the country's GDP. \u0000 \u0000JEL Classifications: O12, O5, O5 \u0000 \u0000Key words: Primary Sector, GDP, Economic Growth ","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128192386","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Although when we speak of COVID – 19 the main affect concerns the health of individuals, it is clear that the pandemic has also affected many aspects of life such as the educational sector. Both teachers and students in Greece faced the challenge of the implementation of distance learning, national wide, during the pandemic. There is still a lack of a proper theoretical model and comprehensive scientific tools to measure the impact of COVID – 19 in education. The purpose of this research is to study and analyze whether distance learning affected the Greek private high schools in different ways such as in terms of students’ graduation or their success rate in the PanHellenic Exams, during the first outbreak of the COVID-19 pandemic. Based on literature and feedback received from high schools’ principals we captured important results over the use of distance learning and its effectiveness. More specifically, through the quantitative study performed on 63 out of 79 private high schools’ principals, the researchers reached the conclusion that the majority of private schools managed distance education successfully. It was proved that both teaching and administrative staff were highly competent and skilled in the use of new technologies and therefore, distance education was not treated as a problematic situation but it steadily became part of each school’s daily routine. EL Classifications: Μ19 (M: Business Administration and Business Economics/ Marketing/ Accounting/ Personnel Economics – Μ1: Business Administration – M19: Others) Key words: Distance Education, COVID – 19 Pandemic, Greek Private High Schools, Principals
{"title":"The Impact of COVID – 19 First Outbreak on Greek Private High Schools & The Distance Learning Experience","authors":"Maria Malagkoniari, Cleopatra Deliou","doi":"10.12681/icbe-hou.5351","DOIUrl":"https://doi.org/10.12681/icbe-hou.5351","url":null,"abstract":"Although when we speak of COVID – 19 the main affect concerns the health of individuals, it is clear that the pandemic has also affected many aspects of life such as the educational sector. Both teachers and students in Greece faced the challenge of the implementation of distance learning, national wide, during the pandemic. \u0000There is still a lack of a proper theoretical model and comprehensive scientific tools to measure the impact of COVID – 19 in education. The purpose of this research is to study and analyze whether distance learning affected the Greek private high schools in different ways such as in terms of students’ graduation or their success rate in the PanHellenic Exams, during the first outbreak of the COVID-19 pandemic. \u0000Based on literature and feedback received from high schools’ principals we captured important results over the use of distance learning and its effectiveness. More specifically, through the quantitative study performed on 63 out of 79 private high schools’ principals, the researchers reached the conclusion that the majority of private schools managed distance education successfully. It was proved that both teaching and administrative staff were highly competent and skilled in the use of new technologies and therefore, distance education was not treated as a problematic situation but it steadily became part of each school’s daily routine. \u0000 \u0000EL Classifications: Μ19 (M: Business Administration and Business Economics/ Marketing/ Accounting/ Personnel Economics – Μ1: Business Administration – M19: Others) \u0000 \u0000Key words: Distance Education, COVID – 19 Pandemic, Greek Private High Schools, Principals \u0000 ","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130182821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper gives a first look at the innovative Tourism Satellite Account (TSA) information system, which includes all the functions and procedures of updating the chain of TSA Tables, starting from data entry, storage and management of data, updating of TSA Tables, after the necessary statistical analysis, and finally the possibility of capturing the economic results of tourism activity in an economy. The methodology applied allows the connection of the tables and the export of reliable and timely results. The proposed information system aims not only to improve the efficiency of tourism data management but also to facilitate their collection and ultimately the functionality and usefulness of TSAs. The results expected from the proposed implementation will provide academics, professionals and tourism policy makers with new perspectives on the evaluation and improvement of tourism and on regional and national economic development (Wu, Liu, and Song, 2018). The TSA is integrated into the general information System of National Accounts (SNA). The development of the Online Analytical Processing (OLAP) Tourism Satellite Account model, named “OLAP- TSA-Model”, for integrating the data from the SNA Tables after the necessary processing and consideration of tourism data sources in the TSA tables, their transition from one TSA table to the next, to seamlessly complete them and reveal the values of the economy attributed to the tourism activity of a country, are the subject of research of this paper. Keywords: System of National Accounts, Tourism Satellite Account, Information System, Tourism, Greece. Jel: E290, L830, O100, R150
本文首先介绍了创新的旅游卫星账户(TSA)信息系统，该系统包含了更新TSA表链的所有功能和程序，从数据录入、数据存储和管理开始，更新TSA表，经过必要的统计分析，最后捕捉一个经济体中旅游活动的经济结果的可能性。所采用的方法允许将表格联系起来并输出可靠和及时的结果。拟议的信息系统不仅旨在提高旅游数据管理的效率，而且还旨在促进旅游数据的收集，并最终提高旅游数据评估的功能和实用性。拟议实施的预期结果将为学者、专业人士和旅游政策制定者提供评估和改善旅游业以及区域和国家经济发展的新视角(Wu, Liu, and Song, 2018)。运输安全管理局已纳入国民核算一般信息系统。本文的研究主题是开发在线分析处理(OLAP)旅游卫星账户模型，即“OLAP- TSA- model”，通过对TSA表中旅游数据源进行必要的处理和考虑，整合SNA表中的数据，并将其从一个TSA表转换到另一个TSA表，以无缝地完成它们，并揭示一个国家的旅游活动所带来的经济价值。关键词:国民经济核算体系，旅游卫星账户，信息系统，旅游，希腊。规格:E290, L830, O100, R150
{"title":"Proposal for an Information System of the Greek Tourism Satellite Account","authors":"M. Diakomihalis, Th. Pappas","doi":"10.12681/icbe-hou.5362","DOIUrl":"https://doi.org/10.12681/icbe-hou.5362","url":null,"abstract":"This paper gives a first look at the innovative Tourism Satellite Account (TSA) information system, which includes all the functions and procedures of updating the chain of TSA Tables, starting from data entry, storage and management of data, updating of TSA Tables, after the necessary statistical analysis, and finally the possibility of capturing the economic results of tourism activity in an economy. \u0000The methodology applied allows the connection of the tables and the export of reliable and timely results. The proposed information system aims not only to improve the efficiency of tourism data management but also to facilitate their collection and ultimately the functionality and usefulness of TSAs. \u0000The results expected from the proposed implementation will provide academics, professionals and tourism policy makers with new perspectives on the evaluation and improvement of tourism and on regional and national economic development (Wu, Liu, and Song, 2018). The TSA is integrated into the general information System of National Accounts (SNA). \u0000The development of the Online Analytical Processing (OLAP) Tourism Satellite Account model, named “OLAP- TSA-Model”, for integrating the data from the SNA Tables after the necessary processing and consideration of tourism data sources in the TSA tables, their transition from one TSA table to the next, to seamlessly complete them and reveal the values of the economy attributed to the tourism activity of a country, are the subject of research of this paper. \u0000 \u0000Keywords: System of National Accounts, Tourism Satellite Account, Information System, Tourism, Greece. \u0000 \u0000Jel: E290, L830, O100, R150 \u0000 \u0000 ","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123344417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper empirically tests the benefits of econometric advances in the field of Value at Risk (VaR) within the existing legal framework that regulates the Banking (Basel III) and Asset Management industry (CESR (2010)). We test several VaR models, from the simplest and the most easily applied, i.e. the Historical VaR (HVaR), Variance Covariance VaR (VCVaR), and the Exponential Weighted Moving Average VaR (EWMAVaR), to advanced models such as GARCH(1,1). We test these models by examining the extremely volatile FX market of the Turkish Lira (TRY) and we evaluate the models according to the criteria set by the legal framework on VaR. The empirical findings suggest that the HVaR model is a very reliable model if the goal of a risk manager is to satisfy the legislation requirements. However, we should mention that models that make use advances in econometrics lead to more accurate and more representative VaR estimations than the HVaR. The law should give incentives to adopt more representative models in the financial industry in order to take advantage of advances in financial modeling. JEL Classification: C53; G15 Keywords: Value-at-risk; GARCH estimation; Historical VaR; Variance Covariance; Exponential Weighted Moving Average VaR; Back-testing; Legislation; FX Market
{"title":"Do econometric advances lead to more accurate VaR estimations when the legislation requirements are applied? The case of Turkish Lira FX Market.","authors":"Evangelos Vasileiou, Ioannis Rizopoulos","doi":"10.12681/icbe-hou.5355","DOIUrl":"https://doi.org/10.12681/icbe-hou.5355","url":null,"abstract":"This paper empirically tests the benefits of econometric advances in the field of Value at Risk (VaR) within the existing legal framework that regulates the Banking (Basel III) and Asset Management industry (CESR (2010)). We test several VaR models, from the simplest and the most easily applied, i.e. the Historical VaR (HVaR), Variance Covariance VaR (VCVaR), and the Exponential Weighted Moving Average VaR (EWMAVaR), to advanced models such as GARCH(1,1). We test these models by examining the extremely volatile FX market of the Turkish Lira (TRY) and we evaluate the models according to the criteria set by the legal framework on VaR. The empirical findings suggest that the HVaR model is a very reliable model if the goal of a risk manager is to satisfy the legislation requirements. However, we should mention that models that make use advances in econometrics lead to more accurate and more representative VaR estimations than the HVaR. The law should give incentives to adopt more representative models in the financial industry in order to take advantage of advances in financial modeling. \u0000 \u0000JEL Classification: C53; G15 \u0000Keywords: Value-at-risk; GARCH estimation; Historical VaR; Variance Covariance; Exponential Weighted Moving Average VaR; Back-testing; Legislation; FX Market \u0000 \u0000 ","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122420360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
One factor that researchers regularly cite as one of the most important contributors to organizational performance is leadership. However, despite the widespread speculation that leadership is important for organizational success, there has been relatively little research regarding the impact of leadership behaviours on organizational performance in governmental entities. More specifically, there is little research examining the impact of transformational leadership behaviours on organizational performance within governmental entities. The point is to examine the leader – manager debate in the field of Public Administration in Greece, in the light of the implementation of the New Public Management. Consequently, the purpose of this paper is to make a bibliographic review of these issues in the case of Greece, summarizing definitions and characteristics of leadership, leadership styles, differences between management and leadership styles and to study the challenge of public sector leadership in a time of crisis, the impact of New Public Management in the public sector administration as well as the leader / manager debate in the Greek public administration context. Τhe debate about Greece is being developed in the modern dimensions of the governance and administration of the quality of the institutions, that is in the modern results of good management and leadership. Through an illustrative bibliographic review we have conducted so far, there is a lack of studies about the impact of Greek public sector leadership, the existence of a best leadership style and whether the regional government can work effectively in terms of private sector management to be effective and rewarding in the local community. We base our study on Van Wart’s (2003) literature review on public sector leadership. Does public sector leadership existing in its own right, or is it merely private leadership applied to the public domain? Is there any need for leadership development programs which focus on the difference between administrative leaders in the public sector and their counterparts in the business world? What is the best leadership style to use in a time of crisis? Keywords: Leadership, Management, Local Government, Greek Public Administration, New Public Management.
{"title":"The leader – manager debate in the Greek public administration: a critical review of the literature and future research agenda.","authors":"Vassiliki Tzavella","doi":"10.12681/icbe-hou.5357","DOIUrl":"https://doi.org/10.12681/icbe-hou.5357","url":null,"abstract":" One factor that researchers regularly cite as one of the most important contributors to organizational performance is leadership. However, despite the widespread speculation that leadership is important for organizational success, there has been relatively little research regarding the impact of leadership behaviours on organizational performance in governmental entities. More specifically, there is little research examining the impact of transformational leadership behaviours on organizational performance within governmental entities. The point is to examine the leader – manager debate in the field of Public Administration in Greece, in the light of the implementation of the New Public Management. Consequently, the purpose of this paper is to make a bibliographic review of these issues in the case of Greece, summarizing definitions and characteristics of leadership, leadership styles, differences between management and leadership styles and to study the challenge of public sector leadership in a time of crisis, the impact of New Public Management in the public sector administration as well as the leader / manager debate in the Greek public administration context. Τhe debate about Greece is being developed in the modern dimensions of the governance and administration of the quality of the institutions, that is in the modern results of good management and leadership. \u0000Through an illustrative bibliographic review we have conducted so far, there is a lack of studies about the impact of Greek public sector leadership, the existence of a best leadership style and whether the regional government can work effectively in terms of private sector management to be effective and rewarding in the local community. We base our study on Van Wart’s (2003) literature review on public sector leadership. Does public sector leadership existing in its own right, or is it merely private leadership applied to the public domain? Is there any need for leadership development programs which focus on the difference between administrative leaders in the public sector and their counterparts in the business world? What is the best leadership style to use in a time of crisis? \u0000 \u0000Keywords: Leadership, Management, Local Government, Greek Public Administration, New Public Management.","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128218614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines a real case scenario using real data under the assumption of a long-term investment horizon. We examine the Dollar Cost Average, Cost Average Plan (CAP) in our case, and attempt to ascertain whether it could prove beneficial for an investor that does not have a significant amount of money to invest when the plan begins. We compare the outcome of the CAP with the alternative scenario of investing a monthly amount in a deposits account, which is in real terms the most comparable plan to the CAP. Using data from January, 2003 to November, 2021 from a wide range of ten (10) European Monetary Union countries, we compare the empirical evidence of these results and we reach the conclusions that CAP outperforms the seasonal bank deposits plan. Moreover, we compare these strategies with the Buy-and-Hold (BnH) strategy, as most studies do, and we conclude that CAP is more beneficial for highly volatile and less uptrend markets than a BnH strategy.
Jel Classifications: G1; G11; N2
Keywords: Dollar Cost Averaging; Investment Strategies; Investment Decisions; Investment Plans.
{"title":"Dollar-Cost Average plan in EMU countries: could it be beneficial? What the data say.","authors":"Evangelos Vasileiou, Dimitrios Apostolidis","doi":"10.12681/icbe-hou.5359","DOIUrl":"https://doi.org/10.12681/icbe-hou.5359","url":null,"abstract":"This study examines a real case scenario using real data under the assumption of a long-term investment horizon. We examine the Dollar Cost Average, Cost Average Plan (CAP) in our case, and attempt to ascertain whether it could prove beneficial for an investor that does not have a significant amount of money to invest when the plan begins. We compare the outcome of the CAP with the alternative scenario of investing a monthly amount in a deposits account, which is in real terms the most comparable plan to the CAP. Using data from January, 2003 to November, 2021 from a wide range of ten (10) European Monetary Union countries, we compare the empirical evidence of these results and we reach the conclusions that CAP outperforms the seasonal bank deposits plan. Moreover, we compare these strategies with the Buy-and-Hold (BnH) strategy, as most studies do, and we conclude that CAP is more beneficial for highly volatile and less uptrend markets than a BnH strategy.
 
 
 
 Jel Classifications: G1; G11; N2
 Keywords: Dollar Cost Averaging; Investment Strategies; Investment Decisions; Investment Plans.
 
 
","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135380684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Digital transformation has become vital for organizations in order for them to differentiate from competitors providing a competitive advantage in the fast-changing environment they operate. Digital transformation is considered as a radical transformation affecting organization’s products, services, people and processes while improving performance. It is a risky and tremendous challenge for most organizations. Based on a dissertation with the current paper an approach on digital transformation, in a national defense company is attempted. Products and services provided are characterized through high quality standards and a strong culture. Those characteristics are considered a fruitable ground for providing a framework to transform an organization into a digital one. Taking into consideration the above, literature research on digital transformation of organizations and their benefits are provided. The digitalization process is analyzed in order to show the building blocks of transforming the organization into a digital one. However, in order to start such a process, the organization has to have an adaptive high performance organization culture. This is considered as the base to start the digitalization process. In order for the organization to have such a culture, current situation has to be assessed and certain actions to be taken. An assessment of above-mentioned company is presented and actions proposed. It is obvious that organizational digital transformation is inextricably linked with an organizational culture change. The benefits and barriers from such a transformation are shown and finally proposals presented regarding a digital strategy implementation as well as a vision and mission statement for the company. EL Classifications: M14. Key words: Digital transformation, digitalization process, digital strategy, organizational culture change, vision and mission statement
{"title":"Digital transformation of organizations and their organizational cultures. A case study in a national defense industry","authors":"Spyridon K. Kapotas","doi":"10.12681/icbe-hou.5349","DOIUrl":"https://doi.org/10.12681/icbe-hou.5349","url":null,"abstract":"Digital transformation has become vital for organizations in order for them to differentiate from competitors providing a competitive advantage in the fast-changing environment they operate. Digital transformation is considered as a radical transformation affecting organization’s products, services, people and processes while improving performance. It is a risky and tremendous challenge for most organizations. Based on a dissertation with the current paper an approach on digital transformation, in a national defense company is attempted. Products and services provided are characterized through high quality standards and a strong culture. Those characteristics are considered a fruitable ground for providing a framework to transform an organization into a digital one. Taking into consideration the above, literature research on digital transformation of organizations and their benefits are provided. The digitalization process is analyzed in order to show the building blocks of transforming the organization into a digital one. However, in order to start such a process, the organization has to have an adaptive high performance organization culture. This is considered as the base to start the digitalization process. In order for the organization to have such a culture, current situation has to be assessed and certain actions to be taken. An assessment of above-mentioned company is presented and actions proposed. It is obvious that organizational digital transformation is inextricably linked with an organizational culture change. The benefits and barriers from such a transformation are shown and finally proposals presented regarding a digital strategy implementation as well as a vision and mission statement for the company. \u0000EL Classifications: M14. \u0000Key words: Digital transformation, digitalization process, digital strategy, organizational culture change, vision and mission statement","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133936118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose – The purpose of this paper is to compare the level of central government financial information disclosed in the annual financial statements before and after the adoption of an accounting system based on International Public Sector Accounting Standards (IPSAS). A comparison of this disclosure level to the IPSAS required disclosure level is also performed. Design/methodology/approach – This study uses a checklist of disclosure items used to measure the IPSAS disclosure level and compare this with the score of the government financial statements in Greece for the years 2011-2020. Findings – The results show significant differences between the disclosure level of the government financial statements before and after the application of an IPSAS based accounting system. Specified application difficulties explain the difference between the required IPSAS disclosure level and the level already achieved by the Greek public accounting system. Practical implications – The research findings are potentially relevant to academics and practitioners since it provides evidence on the improvement of the disclosure level on the process of IPSAS application. It also identifies difficulties faced on this process and explains how they affect the disclosure level achieved. JEL CODE: H83 Key words: International Public Sector Accounting Standards, Disclosure, Public Sector Accounting
{"title":"Disclosure Level before and after the application of an IPSAS based accounting system: The case of Greece","authors":"Eleni Vrentzou","doi":"10.12681/icbe-hou.5360","DOIUrl":"https://doi.org/10.12681/icbe-hou.5360","url":null,"abstract":"Purpose – The purpose of this paper is to compare the level of central government financial information disclosed in the annual financial statements before and after the adoption of an accounting system based on International Public Sector Accounting Standards (IPSAS). A comparison of this disclosure level to the IPSAS required disclosure level is also performed. \u0000Design/methodology/approach – This study uses a checklist of disclosure items used to measure the IPSAS disclosure level and compare this with the score of the government financial statements in Greece for the years 2011-2020. \u0000Findings – The results show significant differences between the disclosure level of the government financial statements before and after the application of an IPSAS based accounting system. Specified application difficulties explain the difference between the required IPSAS disclosure level and the level already achieved by the Greek public accounting system. \u0000Practical implications – The research findings are potentially relevant to academics and practitioners since it provides evidence on the improvement of the disclosure level on the process of IPSAS application. It also identifies difficulties faced on this process and explains how they affect the disclosure level achieved. \u0000 \u0000JEL CODE: H83 \u0000Key words: International Public Sector Accounting Standards, Disclosure, Public Sector Accounting","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126272359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Presidential Decree 54/2018 legislated the introduction of accrual basis accounting from 1/1/2023 to all entities of the General Government of Greece in accordance with the European System of Accounts 2010. We study the effect of accrual basis accounting under the 54/2018 on financial information and audit of entities, as well as the transition process. The research was conducted using the qualitative method, the structured interview protocol was the data collection tool and the participants were the employees of the Third Department of the General Government Accounting Plan. We find that there will be objective information of the entity's financial position and performance, depreciation, provisions, impairments and fair value of assets. Transparency and accountability are strengthened, audits are facilitated to establish useful sound financial management, there is a central control of public finances and the phenomena of corruption and financing of public officials will be reduced. The job of the audit mechanisms is strengthened, audits become more effective and the way available resources are managed is more precisely controlled. Major difficulties during the transition are the lack of personnel and an appropriate accounting information system, and in combination with the covid-19 pandemic, it was noted that the transition cannot be implemented on 1/1/2023 and for that reason our results suggest an extension to 2025 for the transition, proposal which was implemented on July 30, 2022 with Law 4964/2022. EL Classifications: H83, P41, M48. Key words: Accrual Accounting, Accounting Reform, General Government, Accountability, Audit.
{"title":"Public management reform under the dome of accruals (Presidential Decree 54/2018): Investigation of the effects on the financial information and the audit of the General Government entities","authors":"S. Goumas, Pavlos Karastogiannis","doi":"10.12681/icbe-hou.5348","DOIUrl":"https://doi.org/10.12681/icbe-hou.5348","url":null,"abstract":"Presidential Decree 54/2018 legislated the introduction of accrual basis accounting from 1/1/2023 to all entities of the General Government of Greece in accordance with the European System of Accounts 2010. We study the effect of accrual basis accounting under the 54/2018 on financial information and audit of entities, as well as the transition process. The research was conducted using the qualitative method, the structured interview protocol was the data collection tool and the participants were the employees of the Third Department of the General Government Accounting Plan. We find that there will be objective information of the entity's financial position and performance, depreciation, provisions, impairments and fair value of assets. Transparency and accountability are strengthened, audits are facilitated to establish useful sound financial management, there is a central control of public finances and the phenomena of corruption and financing of public officials will be reduced. The job of the audit mechanisms is strengthened, audits become more effective and the way available resources are managed is more precisely controlled. Major difficulties during the transition are the lack of personnel and an appropriate accounting information system, and in combination with the covid-19 pandemic, it was noted that the transition cannot be implemented on 1/1/2023 and for that reason our results suggest an extension to 2025 for the transition, proposal which was implemented on July 30, 2022 with Law 4964/2022. \u0000 \u0000EL Classifications: H83, P41, M48. \u0000Key words: Accrual Accounting, Accounting Reform, General Government, Accountability, Audit.","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121664130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper assesses the degree of price cooperation between the main agricultural supply chain stakeholders in EU-27. The price transmission mechanism between producers and retailers is used for assessing cooperation. Cereals prices of EU-27 are used for the empirical analysis (January 1995 - April 2022). The price mechanism is modeled via the Co-Integrated Vector AutoRegressive (VAR) representation. The empirical analysis follows the usual drill of stationarity and co-integration tests followed by Granger Causality tests, Impulse Responses and Forecasts of Error Decomposition. The results show restricted cooperation between supply chain stakeholders. JEL Classifications: Q13, Q18 Keywords: Price analysis, European Union - 27, supply chain management
{"title":"Price Analysis in the European Food Supply Chain","authors":"Dimitris N. Pachis, George D. Peppas, A. Dimitras","doi":"10.12681/icbe-hou.5354","DOIUrl":"https://doi.org/10.12681/icbe-hou.5354","url":null,"abstract":"The paper assesses the degree of price cooperation between the main agricultural supply chain stakeholders in EU-27. The price transmission mechanism between producers and retailers is used for assessing cooperation. Cereals prices of EU-27 are used for the empirical analysis (January 1995 - April 2022). The price mechanism is modeled via the Co-Integrated Vector AutoRegressive (VAR) representation. The empirical analysis follows the usual drill of stationarity and co-integration tests followed by Granger Causality tests, Impulse Responses and Forecasts of Error Decomposition. The results show restricted cooperation between supply chain stakeholders. \u0000 \u0000JEL Classifications: Q13, Q18 \u0000 \u0000Keywords: Price analysis, European Union - 27, supply chain management \u0000 ","PeriodicalId":374676,"journal":{"name":"International Conference on Business and Economics - Hellenic Open University","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115634039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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