Operational Budgeting in Czech Companies

International Advances in Economic Research -     

关于预算的法律监督问题

对预算的监督是宪法和法律赋予各级人大及其常委会一项非常重要的职权。目前,预算的编制、审批、执行、调整、决算方面存在着许多问题,使预算不能很好地发挥其应有的作用,各级人大及其常委会对预算的审查、批准、监督行使职权方面也存在许多不尽如人意之处。一、预算监督存在的一些问题1.预算编制不够科学、真实,影响了预算的严肃性及权威性。按照法律规定,预算年度为每年的1月1日至12月31日,而实际中,由于各级人代会的召开晚于预算年度的起始时间,造成预算效力的断档和真空,使政府在一段时间内执行的是没有经过法定程序审批的预算。尽管《…     

Performance measurement in multi-task agencies

This paper analyzes a multi-task agency relationship with a risk-neutral and financially constraint agent. The agent’s performance evaluation is incongruent, i.e. it does not reflect his contribution to firm value, and thus motivates an inefficient effort allocation across tasks. This paper investigates the improvement of the agent’s performance evaluation by contrasting two alternatives for the principal: (i) to invest in assets which can be utilized to generate additional measures about the agent’s performance; and (ii), to delegate this task to a supervisor. This paper demonstrates that delegation is superior whenever the costless available performance evaluation is sufficiently incongruent.     

高校预算管理存在的问题及对策

高校预算管理是高校财务管理工作的核心内容,预算管理好坏直接影响到资金的使用效益.目前高校教学经费支出预算存在许多闸题,影响成本控制的有效实施,如何完善预算工作是高校财务工作亟待解决的问题.本文分析了高校目前预算管理存在的问题及其因为,并就如何实现科学预算管理,缓解高校资金压力提出了自己的见解.     

Intermediation by aid agencies

This paper models aid agencies as financial intermediaries that do not make a financial return to depositors, whose concern is to transfer resources to investor-beneficiaries. This leads to a problem of verifying that the agency is using donations as intended. One solution to this problem is for an agency to employ altruistic workers at below-market wages: altruistic workers, who can monitor the agency's activities, would not work at below-market rates unless they were genuinely transferring resources to beneficiaries. We consider conditions for this solution to be incentive compatible. In a model with pure moral hazard, observability of wages makes incorporation as a not-for-profit firm redundant as a commitment device. In a model with both moral hazard and adverse selection, incorporation as a not-for-profit firm can serve as a costly commitment mechanism reassuring donors against misuse of their funds. Hiring a worker of low ability can also be a valuable commitment device against fraud.     

Rating the credit rating agencies

We offer herein several policy tools that can assist the new Office of Credit Ratings within the Securities and Exchange Commission in assessing the quality of past credit ratings and thus measuring the inclusive competency of credit rating agencies. We propose to weigh the degrees of accuracy, consistency and total synchronization between a tested sample of past ratings and a benchmark array of flawless ratings. We also discuss various techniques to handle major discrepancies between these two arrays of credit ratings. We further explain and demonstrate the importance of different sample sizes. In addition, we present a simple approach to estimate the probability of convergence between the two matched sets of ratings under specified governing thresholds. Lastly, we illustrate the bulk of the theory with a concise empirical investigation.     

Ranking agencies under moral hazard

Summary. We provide rankings across uncertain outputs generated by agents functioning within the Principal-Agent paradigm. For agents who are identical except for their productivity, a necessary (but not sufficient) condition for an agent to be preferred is that her output dominates that of lower agents in the sense of First Degree Stochastic Dominance (FDSD) at every level of effort. Sufficient conditions are based on Blackwells ranking of information systems and involves a characterization of FDSD using stochastic matrices. Our conditions for ranking outputs extends earlier results concerning the value of information within the agency framework. We also show how our techniques can be adapted to rank agents even if the first-order approach for determining optimal contracts fails to hold.Received: April 2, 1996; revised version: October 30, 1996This revised version was published online in February 2005 with corrections to the cover date.     

全面预算管理在火电厂中的应用

介绍全面预算管理的概念、内容、编制方法、注意事项等 ,并以电厂的实际生产经营为例 ,说明实行全面预算管理的实用性及必要性     

Towards a Political Economy of Zero Budgeting in Austria

The EMU sets new standards for public finance. In particular, the Stability and Growth Pact aims at a budget ``close-to-balance or in surplus'. Austria is lagging behind in this respect. First, this paper discusses the reasons for that. Then, two scenarios of budget consolidation are analyzed with the Wifo macroeconomic model. In the case of the crash-scenario, which balances the budget already in 2002, the pure Keynesian solution would result in a decline of real GDP of 1% after six years. The precautionary consolidation scenario (balanced budget in ten years) would result in a real GDP loss of only 1/2%. With supply-side effects (incentives for investment due to privatization and UMTS licences sales or credibility effects), real GDP declines only by 1/3% in both scenario. Taking a consolidated view of the tax reform 2000 and the budget consolidation, on balance, the overall effects are rather positive than negative.     

Using the Delphi method to assess community health needs

Comprehensive health planning must ultimately be based upon information about the people to be served. Their needs as potential patients or clients of the various service systems being planned must be identified and evaluated. Regional cooperation on meeting these health care needs is premised on some agreement amongst the population as to the existing problems and their relative priorities. In order to investigate how such a health needs assessment might be undertaken a study was conducted using a panel of citizens selected from a 10-country central Texas region. The results demonstrate the fesibility of employing the Delphi method for achieving consensus on some health care issues; the information obtained can become valuable input to the overall health planning process.     

Budgeting for Equality: The Australian Experience

Gender budgets have now been introduced in varying forms in more than forty countries throughout the world. These exercises emerged out of feminist practical politics initially in Australia and later in a number of other countries. The idea of gender budgets gathered further momentum when the United Nations Beijing Platform for Action called for the integration of a gender perspective into budgetary decision-making. Most of these experiments share three core goals. They seek to: (1) mainstream gender issues within government policies; (2) promote greater accountability for governments' commitment to gender equality; and (3) change budgets and policies. However, very little research has examined their success in achieving these goals. In discussing the lessons learnt from the Australian experience, this paper adopts a feminist political economy perspective on the state as an analytical starting point for discussing the future of gender budgets elsewhere in the world.     

资本预算编制松驰的原因研究

资本预算编制松驰是资本投资项目中预算高于实际需求的现象.本文以沪深两市223个完工的资本投资项目为研究样本,分析了资本预算编制松驰现象以及形成原因,结果发现:资本预算编制松驰存在且程度较高;代理理论和组织松驰理论对资本预算编制松驰都具有较强的解释力,适度的资本预算编制松驰是组织松驰的结果,而较高程度的资本预算编制松驰则是代理问题所致.     

基于价值链的动态预算管理研究

著名管理学家戴维•奥特利(David Otley)说"全面预算管理是为数不多的几个能把组织的所有关键问题融合于一个体系之中的管理控制方法之一"。^[1]以财富500强为代表的国外大公司无一例外地把预算作为管理控制的工具和业绩评价的依据。温家宝总理在2004年政府工作报告中把"建立国有资本经营预算制度和企业经营业绩考核体系"作为深化经济体制改革的重要手段。可见,企业预算管理作为"企业制度建设、强化管理"的基本方略已经受到理论界、政府及各类企业的广泛关注。     

How to restore higher-powered incentives in multitask agencies

In multiple-task agency setups it is commonly accepted thatwage incentives must be weaker when the agent's performanceon some of the activities is difficult to measure. This articleshows that stronger incentives can be restored through a schemeof selective audits in which the appraisal of less tangibleactivities is contingent on observing high performance levelsin the more visible tasks. This scheme would make the effortsexpended on the various tasks complementary rather than substitutesin the agent's utility function. It is optimal under plausibleassumptions concerning the monitoring technology (separabilityof the multivariate likelihood function) and the agent's riskbehavior (absolute prudence larger than three times absoluterisk aversion).