Differentiating the Russian regions through an econometric analysis by socio-economic indicators influencing the consumer demand

Pakhomov, Alexander; Пахомова, Е А; Rozhkova, O. V.

doi:10.24891/ni.13.12.2200

Cited by 1 publication

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“…Please refer to the research indicated herein [5] for information about using econometric methods to verify socio-economic relationships and probability of mutual effect by evaluating the elasticity. In this case, we confine ourselves to the given equations: The above computations allow us to conclude that the a-offset is negative.…”

Section: The Analysis Of Variables Was Guided By the Following Assumptionsmentioning

confidence: 99%

“…The methodological framework of the so called direct costing system is the segregation of all costs, which is understood with a certain approximation, into variable VC (production and non-production depending on business performance, including changes in production output and uneven dynamics 4 , and fixed FC, that do not depend on the production output (or depend insignificantly) 5 . Mostly, direct costs are variable, while indirect ones can be both variable and fixed.…”

Section: Introductionmentioning

confidence: 99%

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The Use of Econometric Tools for Cost Management Analysis

Pakhomov¹,

Пахомова²,

Rozhkova³

2019

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Subject The article analyzes the cost management cycle, being a determinant of the economic result embodies in profit and better competitiveness. Objectives Using econometric tools, we conduct an extended analysis of the cost management process by modifying and implementing components of the financial position specification technique and segregating conditionally fixed and conditionally variable costs from total costs of an entity as an element of its external environment. Methods We relied upon financial documents of the entity producing consumer goods of limited diversity, framework of multiple regression and the financial position specification technique. Results Having adjusted the initial technique for the specifics of the analyzable issue, we managed to expand the scope of the tools and proposed what aspects of the model should be developed so to streamline the departure from the traditional classification of economic processes into micro-, meso-and macrolevels. We analyzed the correlation of production output by brand, general fixed costs, variable costs per product unit and performance results through the break-even analysis so to make precise measurements of conditionally fixed and conditionally variable costs. The analysis revealed that the entity's operations will remain breakeven within five years to come. Making the substantive interpretation of causes and consequences of the proposed transformations and values, we take the specifics of each item into consideration, adjust tools and make assumptions for further specification in accordance with a life cycle stage, external environment, regional and macroeconomic trends, etc. Conclusions and Relevance As the computations show, costs can be segregated, with modern information and computing tools being able to ensure not only an operational and practicable algorithm, but also the sufficient quality of analytical finding, which would allow to make and implement further managerial decisions.

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Section: The Analysis Of Variables Was Guided By the Following Assumptionsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%