INSTITUTIONAL RESEARCH ON PERFORMANCE MEASUREMENT AND MANAGEMENT IN THE PUBLIC SECTOR ACCOUNTING LITERATURE: A REVIEW AND ASSESSMENT

This paper reviews the evolution of institutional research on performance measurement and management (PMM) in the public sector accounting literature. An assessment of the progress of this research programme is offered in light of some key developments in the broader neo-institutional sociology (NIS) literature, such as the growing recognition of the role of embedded agency, the need to bridge institutional and rational choice explanations of action and the extension of empirical research across different levels of institutional fields. Some progress has been made in this respect and has contributed to shift the emphasis from a one-sided focus on institutional effects  on  PMM, treating institutional pressures as largely exogenous, to recognize its more intricate roles as an outcome of, as well as a medium for, change. However, further research is required into the micro dynamics involved in transforming and reproducing PMM practices at different levels of analysis and how such practices become infused with meanings conditioned by higher-order institutional logics across various levels of institutional fields. Some research strategies for addressing these issues are outlined.     

Corporate governance and earnings management at large U.S. bank holding companies

This paper examines whether corporate governance mechanisms affect earnings and earnings management at the largest publicly traded bank holding companies in the United States. We first find that performance, earnings management, and corporate governance are endogenously determined. Thus, OLS estimation can lead to biased coefficients and a simultaneous equations approach is used. We find that CEO pay-for-performance sensitivity (PPS), board independence, and capital are positively related to earnings and that earnings, board independence, and capital are negatively related to earnings management. We also find that PPS is positively related to earnings management. Finally, PPS and board independence are positively related and the relationship is bidirectional. While both PPS and board independence are associated with higher earnings, our results indicate that more independent boards appear to constrain the earnings management that greater PPS compels.     

Performance management: a framework for management control systems research

This paper proposes a framework for analysing the operation of management control systems structured around five central issues. These issues relate to objectives, strategies and plans for their attainment, target-setting, incentive and reward structures and information feedback loops. Their central focus is on the management of organizational performance. Because the framework has been inductively developed, its application is `tested' against three major systems of organizational control, namely budgeting, economic value added and the balanced scorecard. In each case, neglected areas of development are exposed and fruitful topics for research identified. It is believed that the framework can usefully be developed further by its use in analysing other instances of management control systems practice, and that case-based, longitudinal studies provide the best route to this end.     

School output control and student performance in Norwegian primary schools—an exploratory study

This paper explores how national school performance measures are used as a management control system in Norwegian schools and the relationship between the use of these measures and student performance. Survey data from Norway and archival family background data are examined with the results of national tests (NTs) taken by grade 5 students (10 year olds). The study finds interesting relationships between how schools use NT results and student performance. The findings provide insight into how take up of national tests can be improved within Norwegian schools. These insights might also be transferable to schools outside Norway.     

The Cult of Modernity

This article examines Strategic Performance Management Systems oftenintroduced as a key component of New Public Management. In doing so, it identifies some of the common and long-standing difficulties identified with the introduction and use of performance measures. The article then questions why such management systems are consistently advocated given some of the apparently serious dysfunctions that their introduction and use can engender. It concludes that these systems reflect a deeper attachment to what has been characterised as Enlightenment thinking, and that an archaeology of this style of thought is a necessary pre-requisite for understanding models of management that are promulgated.     

Residual Income and Value-Creation: The Missing Link

This paper extends the residual income literature to provide a framework for the use of residual income in performance measurement, applicable in value-based management. It shows that, under a simple initializing assumption, an accounting-free measure of excess value created over a multi-period interval can be written entirely in terms of (i) within-interval realized residual incomes and (ii) end-of-interval expected future residual incomes, both appropriately adjusted for the time value of money. It also shows that, when the simple initializing assumption is relaxed, excess value created can be expressed in terms of excess residual incomes, measured by comparison with expectations as at the beginning of the multiperiod interval.     

\"新公共管理\"与完善我国税务机构的内部管理

\"新公共管理\"给西方税务机构改革带来的变化为我国加强税务机构内部管理提供了经验。借鉴发达和新兴工业化国家改善税务机构的内部管理的经验,完善我国税务机构的内部管理可从组织机构、人力资源管理机制和绩效评估机制三方面着手。     

谈行政事业单位应加强固定资产的管理

针对行政事业单位的固定资产使用后形成的消耗只能来源于财政的事业经费预算支出而导致的在使用、管理中存在一些账实不符、资产串用、资产利用效率不高和制度不健全等弊端进行了分析,提出了从抓紧建立适应经济发展变化的资产配置、使用、调配、处置等诸环节加强管理的新制度,通过预算管理、政府采购以及政府收支分类统计手段,强化对行政事业单位固定资产的管理势在必行的对策建议。     

Integrating sustainability performance measurement into logistics and supply networks: A multi-methodological approach

This paper seeks to address the way in which economic and environmental performance can be measured simultaneously, taking a multi-methodological approach to the logistics and supply chain management field in order to address sustainability challenges. The multi-methodological approach relies on the merits of different methodologies, provides more flexibility in tackling problems under investigation, and tolerates inaccurate estimation of parameters during the process. An illustrative case study (Westgate Ports) is undertaken in Australia in order to examine the ways in which the multi-methodological approach is applied, and how it assists during the decision making process in the adoption of green practices for freight transport logistics. The case validates the applicability and usefulness of the approach and highlights comparative outputs of costs and carbon emissions in freight transport logistics. Rail transport is identified as giving the opportunity to study the short distance container and freight distribution network, although initially this does not appear to be the most cost-effective option. This study finds that it is better to simultaneously consider performance indicators from different perspectives and to integrate them into one model of system measurement in order for corporations to improve their sustainability performance.     

关于利率市场化条件下完善中小银行利率风险管理能力的思考

利率市场化本质在于实现商业银行利率定价的自主化和利率风险管理的成熟化。当前,中小银行机构仍存在利率定价粗放、风险管理建设滞后的状况,这对它们适应不断开放的市场环境和日趋激烈的竞争格局提出了严峻挑战。文章概括了中小银行机构利率风险管理手段不足的表现,分析了制约其利率风险管理技术提升的相关因素,并就加强中小银行机构利率定价和风险管理能力建设提出建议。     

New Directions in Risk Management

Following the 1991 recession, financial institutions investedheavily in risk management capabilities. These investments targetedfinancial (credit, interest rate, and market) risk management.I will show that these investments helped reduce earnings andloss volatility during the 2001 recession, particularly by reducingname and industry-level credit concentrations. I also suggestthat the industry now faces major risk challenges (better treatmentof operational, strategic, and reputational risks and betterintegration of risk in planning, human capital management, andexternal reporting) that are not addressed by recent investmentsand that will require development of significant new risk disciplines.     

养老机构安全事故演化机理和风险管控法治化路径

本文描述了火灾、疫病流行、侵犯人身权益等风险敞口在不同类型养老机构中的暴露程度,阐释了险源循着点源、离散集中源、线源、面源而演变,直至逼近临界点或遇有导火索而引爆事故的机理。本文结合养老机构事故案例分析发现:消除“不安全状态和不安全行为”是切断事故因果链的关键一环;路径依赖中的自我强化和沉没成本对安全管理升级产生不利影响。本文从法治化建设的视角对养老机构安全风险管控路径提出建议:赋予消防执法改革更高层级的法律依据;依法完善养老机构疫情防控举措和《养老机构服务合同》;注重安全风险管控中的补偏救弊;强化突发安全事故的应急处置等。本文基于对调研资料和相关案例由表及里的剖析,使这些来源于基层实践的素材能够在理论层面还原实践且具有政策价值。     

Does Hedge Fund Performance Persist? Overview and New Empirical Evidence

The contribution of this paper is to provide an overview and new empirical evidence on hedge fund performance persistence, which has been a controversial issue in the academic literature during the last several years. In the first step, we review recent studies and put them into a joint evaluation of hedge fund performance persistence. In the second step, the methodological framework developed in the overview is used to present new empirical evidence. We find different levels of performance persistence depending on the statistical methodology and the hedge fund strategy employed. In our study, performance persistence cannot be explained by the use of option-like strategies, but it can be partially explained by survivorship and backfilling bias. Differences among hedge fund strategies might be explained by return smoothing. Finally, we develop a rationale for choosing between different methodologies to measure performance persistence and conclude that the multi-period Kolmogorov-Smirnov test is the most useful for evaluating performance persistence of hedge funds.