Experimentelle Forschung in der Budgetierung – Lügen, nichts als Lügen?

Budgeting is one of the most important instruments for planning, control and coordination in decentralized firms. Participative budgeting allows a firm’s headquarters to make use of the divisional managers’ superior information when formulating budgets, but, simultaneously, gives the managers the opportunity to benefit from their superior information and to build slack into their budgets. This paper presents experiments analyzing the behavior in participative budgeting processes and explores the question how the actors’ behavior is influenced by pure self-interest on the one hand and non-standard preferences e.g. for the well-being of others or for honesty on the other hand.     

对基于价值链会计预算编制的思考

价值链会计这个新兴的会计领域尚有很多未确定事项,其中价值链预算就是一个方面。本文阐述了价值链预算的作用、作业预算编制流程、价值链与作业链、价值链预算与作业预算的关系,提出以作业预算为借鉴编制价值链预算的设想。     

A Theoretical Analysis of the Impact of Adopting Rolling Budgets,Activity-Based Budgeting and Beyond Budgeting

Budgeting accomplishes many goals in an organization and evaluating the potential impact of a change is difficult. I investigate the organization-wide effects of three distinct budgeting alternatives (rolling budgets, activity-based budgeting and beyond budgeting) using a model that incorporates three important budgeting functions: forecasting, operational planning and performance evaluation. From the perspective of the whole organization, each budgeting alternative improves profits. I then examine the department preferences for each alternative when each function is under the control of a different department and each department has its own, department-specific performance metric. Forecasting is judged on the variance of the base demand forecast, operational planning on the expected unit capacity costs and performance evaluation on the salesperson's expected action. In my model all departments always favor rolling forecasts, while only one department always favors beyond budgeting (or activity-based budgeting). For beyond budgeting and activity-based budgeting, the preferences of the two other departments vary depending upon the model parameters.     

Budget decision making in large public school systems

This paper reviews and discusses results of a study of the budget process in fourteen large city school districts. Topics covered include incremental decision making, the use of “ratios” and “norms” in school budgeting, public participation in budgeting, relevant structural arrangements of local government, and the influence of boards of education on the allocation of resources. Finally, implications for the improvement of school management practices in large school districts are discussed.     

我国预算管理理论和实践综述

预算管理作为一种管理控制工具,在西方已经经历了四个发展阶段,其间传入我国。经过20多年的发展,预算管理已成为我国企业普遍应用的管理手段。从评述西方预算管理理论开始,重点探讨了预算管理理论在我国的应用。预算管理的实践和发展在我国可以分为四个方面:预算管理基础理论的建立,将预算管理理论和实务的紧密联系,与管理会计工具的整合,以及以创造价值为目标的预算管理。本文可为我国企业更好地运用全面预算管理这一管理会计工具提供借鉴。     

The budgeting climate concept and its application to case organizations’ budgeting—an explorative study

This paper introduces the budgeting climate concept and applies it to the case organizations’ budgeting in order to understand the connections between budgeting activity and human behavior in their organizational and social context. The empirical phase comprised a longitudinal case study covering 13 years undertaken in a profit center's sales organizations in the Finnish parent company of a large international industry group. The concept of the budgeting climate constructed in the theoretical part of this study proved to be relevant to behavioral budgeting research as it enables a study of elements decisive for budgeting practice in combination. Using the budgeting climate concept makes it possible to interpret and understand, at least in part, the reasons for the contradictory results achieved by traditional quantitative behavioral research on budgeting.     

烟草商业企业预算控制存在的问题及改进对策

预算控制是通过预算的形式规范各部门行为、调整与修正各部门行为与目标的偏差,保证各级管理目标和企业战略目标实现的过程。本文立足于烟草商业企业预算控制的现实情况,分析了其在预算目标、预算编制内容、预算编制方法、预算执行与考核等方面存在的问题,并提出了相应的改进对策。     

The economic outlook for London

London's economy clearly entered a new growth phase in 2005, supported by strong recovery in financial markets. This improvement in economic performance has been especially marked within the Central London Boroughs, but with some significant variation between them. This article argues that this marks a return to London-led growth for the UK, becoming more noticeable moving into the medium term once the short-term impacts of last year's terrorist attacks have disappeared.     

风险预算与资产配置在投资组合管理中的应用

本文介绍了风险预算的发展、基本原理和一般流程。提出多因素模型可以作为一个可行的方法来实现风险分解,为投资者在组合管理实务中提供理论支持与技术保障,这是风险预算的重要步骤。同时,探讨了资产配置与风险预算的不同之处与关联性。     

A Field Study of the Emerging Practice of Beyond Budgeting in Industrial Companies: An Institutional Perspective

The accounting literature differentiates between key functions of budgeting, such as planning, control, and evaluation, and mostly assumes that firms carry out an annual budgeting exercise. The purpose of this paper is to explore how an institutionalised practice, such as budgeting, changes and to examine the implications of such change for the functions of budgeting. We conduct a field study of five industrial companies that recently either abandoned their annual budgeting system or radically simplified it. Our findings suggest that although new management accounting tools replace the budgeting system, the planning, control, and evaluation functions remain. We observe two approaches for the emerging practice of Beyond Budgeting. In the first approach, firms differentiate between target setting and forecasting. This differentiation appears to be a driver for budget abandonment. In the second approach, target setting and forecasting remain interlinked and many characteristics of traditional annual budgeting remain, albeit in a simplified form.     

New Public Spheres in Brazil: Local Democracy and Deliberative Politics

Brazilian cities have been the sites of significant experiments in participatory and deliberative governance. Participatory budgeting has to be singled out as one of the most important of these. After the landmark experience in Porto Alegre, participatory budgeting has been expanded to 170 Brazilian cities. Is the expansion of participatory budgeting equivalent to the expansion of the deliberative and distributive characteristics of the Porto Alegre experience? This article argues that the conditions that account for the emergence of participatory budgeting in Porto Alegre are unique to that city’s social or political characteristics. It focuses on the role of existing civil society associations in the emergence of participatory budgeting, as well as in its institutional format. It also shows that the presence of civic associations is linked to the deliberative and distributive results of participatory budgeting and that these conditions may not be present in other participatory budgeting experiences.     

Sophisticated capital budgeting systems and their association with corporate performance

Prior empirical studies have been unable to establish any clear relationship existing between the capital budgeting practices adoted and corporate performance. This may partly be explained by the restrictive definition of capital budgeting employed in these studies. The present study, based on data gathered from 144 major companies, examines the relationship between the degree of sophistication identified in capital budgeting systems and corporate performance levels achieved over a number of years, when controlling for the interactive corporate characteristics of size, risk, capital intensity and industry class. The results are surprising. They reveal a consistent, significant negative association between the level of capital budgeting sophistication and corporate performance.     

Closed-form solutions to stochastic process switching problems

This paper studies the price of an asset depending on both a fundamental and possible interventions of an authority. Using the martingale approach in continuous time, we provide closed-form solutions to switching problems involving irreversible, state dependent and intramarginal switch policies. The martingale approach provides additional information regarding the switching policy, namely the average time before authority intervention, the conditional probability of intervention, or the total time of intervention. Applications in international and financial economics include exchange rates modelling, corporate claims valuation and capital budgeting decisions.     

Capital rationing

This article deals with the current state of the theory and methods of capital budgeting under conditions of capital rationing. The focus is on the need for adequate decision support for management and planners dealing with capital budgeting problems. Mention is made of some modern textbooks on capital budgeting and these are found to give scant treatment to capital rationing. A general optimisation model is used in presenting and discussing some major theoretical contributions and proposed methods of calculation in this field.     

Dynamic capabilities through continuous improvement infrastructure

We examine the content of continuous improvement strategies and identify infrastructure decision areas that are important for continuous improvement initiatives. We present a framework of infrastructure based on the idea that continuous improvement can serve as a dynamic capability when it includes a comprehensive organizational context. Further, we study continuous improvement initiatives in five companies to investigate the practices used by them in each of the decision areas of our framework. This research adds to the conceptual understanding of continuous improvement and results in grounded propositions about critical areas of infrastructure for continuous improvement.     

新《预算法实施条例》下医疗保险基金预算编制研究

新《预算法实施条例》对医疗保险基金的预算编制作出了新的规定,使得预算编制的程序和要求更加明确。论文阐述了旧《条例》下医疗保险基金预算编制存在的不足,同时列举了新《预算法实施条例》下医疗保险基金预算编制的改革措施,进一步说明新预算法对医疗保险基金预算编制产生的影响,论文对积极影响进行了重点叙述。     

The London Business School with Gower Publishing

Last year the Chancellor followed "the path of prudence and caution", cutting taxes by £4bn and budgeting for a public sector surplus of £3bn. This year - rather more compellingly - he is travelling the same route. Against the background of a record current account deficit and rising inflation, Mr. Lawson has tightened fiscal policy, cutting taxes in 1989–90 by nearly £2bn - less than is needed to offset real fiscal drag. His main priority, reaffirmed in the Budget speech, is to tackle inflation and, to this end, he chose not to revalorize excise duties. This was reinforced by a reduction in national insurance contributions, which not only benefits the low paid in relative terms, but also sharpens the incentive to supply labour at the bottom end of the wage spectrum. But this reform of national insurance is not cheap. Even though it is not practicable to implement the changes until October, the cost in 1989–90 is estimated at £1bn, rising to £2.8bn in 1990–1. This is equivalent, in PSDR terms, to a 2 per cent cut in the basic rate of income tax arid, in our post-Budget forecast, precludes further tax cuts in 1990. Unless there is an unexpectedly large rebound in personal savings, the Chancellor is likely to find himself in his present position in a year's time: presiding over a large budget surplus but unable to reduce it significantly for fear of rekindling inflation or aggravating the current account deficit. Simply writing declining numbers for the PSDR into the MTFS offers no genuine guidance on medium-term fiscal policy and may even be positively misleading to financial markets.     

从传统绩效预算走向新绩效预算的路径选择

从传统绩效预算走向新绩效预算，代表了现代预算制度的发展方向。20世纪50年代，胡佛委员会倡导的传统绩效预算由于种种原因失败了。随着政府治理变革的不断深化，新绩效预算重新出现在当代预算改革的视野中。本文通过对比传统绩效预算与新绩效预算的成败得失，分析新绩效预算的主要特点——取得了立法机关的支持、适时的政府会计改革、更科学的绩效评价体系和更致力于绩效信息的使用。这些经验对于中国现代预算制度的建设具有重要的启示价值。     

Forecast Summary

We have assumed a Conservative victory in an autumn General Election and the continuation of policies aimed at a gradual reduction of inflation in the medium term. The outlook for 1987 is for a more broadly-based expansion of demand and output growth in excess of 3 per cent. This is combined with a large current account deficit and an increase in inflation. But signs are emerging that UK industry is now responding to last year's improvement in competitiveness and the forecast suggests that, over the next four years, the economy should combine non-oil output growth of 3 per cent with inflation of a similar order of magnitude.     

政府会计与预算基础:非对称的改革进程分析

现实中,政府会计和政府预算的应计制改革进程往往呈现非对称的特点,且应计制政府会计改革大多领先于应计制政府预算改革,这种状况的背后既有人们对应计制预算的重重顾虑,也是对其研究不够深入的反映。矛盾与激励并存,在改革的进程中,应当合理地安排政府会计和政府预算的应计制改革进度,保持一个适度的差距,以促进我国公共财政管理改革平稳、健康地推进。