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Cost-based Management and Decision Making in Greek Luxury Hotels

Author

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  • Zounta, Stella
  • Bekiaris, Michail G.

Abstract

The use of cost accounting systems by hotel businesses is improving the quality of decision making. The development of theories on costing, combined with advances in information technology, has improved the theoretical capabilities of such systems. However, two questions remain largely unanswered: a) whether these theories lead to tangible improvements; and b) what are the variables that drive the success of cost accounting systems. Our research shows that hotel managers need to be convinced about the use and performance benefits of such systems in the decision making process.

Suggested Citation

  • Zounta, Stella & Bekiaris, Michail G., 2009. "Cost-based Management and Decision Making in Greek Luxury Hotels," MPRA Paper 25459, University Library of Munich, Germany, revised 27 Aug 2009.
    • Handle: RePEc:pra:mprapa:25459
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    File URL: https://mpra.ub.uni-muenchen.de/25459/1/MPRA_paper_25459.pdf
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    References listed on IDEAS

    as
    1. Malmi, Teemu, 1999. "Activity-based costing diffusion across organizations: an exploratory empirical analysis of Finnish firms," Accounting, Organizations and Society, Elsevier, vol. 24(8), pages 649-672, November.
    2. Gosselin, Maurice, 1997. "The effect of strategy and organizational structure on the adoption and implementation of activity-based costing," Accounting, Organizations and Society, Elsevier, vol. 22(2), pages 105-122, February.
    3. Chenhall, R. H. & Langfield-Smith, K., 1998. "The relationship between strategic priorities, management techniques and management accounting: an empirical investigation using a systems approach," Accounting, Organizations and Society, Elsevier, vol. 23(3), pages 243-264, April.
    4. Wijewardena, Hema & De Zoysa, Anura, 1999. "A Comparative Analysis of Management Accounting Practices in Australia and Japan: An Empirical Investigation," The International Journal of Accounting, Elsevier, vol. 34(1), pages 49-70.
    5. Kari Lukka & Markus Granlund, 1996. "Cost accounting in Finland: current practice and trends of development," European Accounting Review, Taylor & Francis Journals, vol. 5(1), pages 1-28.
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    Cited by:

    1. Filipa Campos & Luís Lima Santos & Conceição Gomes & Lucília Cardoso, 2022. "Management Accounting Practices in the Hospitality Industry: A Systematic Review and Critical Approach," Tourism and Hospitality, MDPI, vol. 3(1), pages 1-22, February.

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    More about this item

    Keywords

    Cost Accounting; Decision Making; Luxury Hotels; Greece;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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