Government performance evaluation using a balanced scorecard with a fuzzy linguistic scale

An efficient performance measurement system is essential for controlling, monitoring and improving service quality in governmental organisations. In this study, a new ‘government performance evaluating (GPE) procedure’ using a balanced scorecard structure integrated with a fuzzy linguistic scale is proposed for measuring and improving public service. The GPE procedure contributes the following: (1) integration of financial, citizen service and internal work processes as well as learning and growth perspectives in the evaluation procedure; (2) use of a fuzzy linguistic scale to convert the subjective cognition of managers into an information entity and (3) confirmation of improvement.     

Institutional Ownership and Corporate Investment Performance

This paper examines the role of institutional investors in improving firm performance through the channel of corporate investment decisions. We find that the interaction effect between institutional ownership and capital expenditures is significantly related to firm performance. We examine this relationship for different types of institutional investors, and find that investment advisors are most effective monitors in improving firm performance through corporate investment. Moreover, we find that the monitoring role of institutional investors becomes more important when internal governance is weak. Institutional ownership and other forms of corporate governance mechanisms (including CEO incentive compensation and control, shareholder right provisions, and board of director monitoring) operate as substitutes, rather than complements, in improving capital expenditure decisions. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.     

Long-run real exchange rates in the Four Little Dragons

This paper analyses changes in the exchange rate arrangements and policy and their impact on the long-run real exchange rates of the Asian Four Little Dragons. It is found that purchasing power parity is a basic guide in formulating the exchange rate policy of the Four Little Dragons and that exchange rate regimes are very responsive to the effect of major external disturbances on prices. Thus, the exchange rate policy and arrangements are important factors in shaping the behaviour of the real exchange rates of the FLDs, which tend to return to the long-run average value. To test the null hypothesis that purchasing power parity does not hold between the Four Little Dragons and the United States, two cointegration tests, the augmented Dickey-Fuller (ADF) test and the Johansen test, are applied. As the symmetry and proportionality conditions are not supported by the data, the tests are conducted in a trivariate system. While the ADF test does not support PPP, evidence of cointegration is found by the Johansen test.     

Deficit Estimation and Welfare Effects after the 1994 Fiscal Reform in China： Evidence from the County Level

Using simple statistical analysis of count-level budgetary data from across all of China＇s counties, the present paper examines whether the post-1994 fiscal decentralization has affected redistribution at the count-level. The new fiscal system has been less able to narrow inter-county dispersion in ftscal imbalances than the old one, even after taking intergovernmental transfer payments into account. Although with the post-1994 system there has been a modest increase in per capita welfare spending in all counties on average, much of the new-found fiscal resources have been spent on salary and administrative expenses rather than spending on public goods. Therefore, it is imperative that the reform of China＇s tax system is intensified.     

Taiwan's approach to technological change: the case of integrated circuit design

In Taiwan, the government supports applied research institutes in performing industrial technology research and development to bridge the gap between basic research and development. The strategy for improving technological change in Taiwan consists of three main elements: choice of technology to develop; joint research programme with academic institutions; transfer of technology to industries. In this paper, we consider technological change in integrated circuit design in Taiwan as a case study.     

What benefit specialists think about medical savings account options for large firms

Currently, tax-preferred medical savings accounts (MSAs) are being offered on a trial basis to employees of small companies. This article reports results of a survey investigating the potential impact of adding an MSA to a medium- or large-sized firm's employee benefit offerings. The variables examined fall into the categories of attitudes toward views on employee benefits in general, the MSA option and issues associated with risk segmentation.     

Incremental net monetary benefit of ocrelizumab relative to subcutaneous interferon β-1a

Aim: Disease-modifying therapies (DMTs) impact the natural history of relapsing forms of multiple sclerosis (RRMS) by reducing annual relapse rates and slowing disability progression. The effect of DMTs on indirect costs has not been consistently explored in cost-effectiveness studies thus far. The value to patients of an emerging DMT, ocrelizumab, was quantified in comparison to subcutaneous interferon beta-1a (IFNβSC) for the prevalent RRMS population with mild-to-moderate disability in the US, based on two Phase 3 trials, OPERA I and OPERA II, of ocrelizumab vs IFNβSC in RRMS.

Materials and methods: A Markov model was developed to compare disability progression as measured by Expanded Disability Status Scale (EDSS) and relapse outcomes over a 30-year horizon for ocrelizumab vs IFNβSC. Direct, indirect, and informal costs (2016?US dollars) and utilities for EDSS health states were obtained from the literature. Hazard ratios for disability progression and relapse rates were estimated from clinical trials. Value was assessed by calculating the net monetary benefit (NMB), defined as the monetary value of discounted quality-adjusted life years (QALYs) minus total costs, where the value of a QALY was $150,000. One-way sensitivity analyses were conducted.

Results: Ocrelizumab was associated with an incremental gain of 0.84 QALYs and cost savings of $287,713 relative to IFNβSC, resulting in an incremental NMB (INMB) of $413,611 per person over 30 years. The INMB increased by $151,763 for those initiating ocrelizumab at EDSS level 1 vs level 4. Influential parameters were QALY value, treatment costs, and disability progression; however, all sensitivity analyses indicated that the INMB for ocrelizumab relative to IFNβSC was ≥$300,000 per person.

Conclusions: Ocrelizumab provides greater value to RRMS patients compared with IFNβSC. Initiating ocrelizumab at lower EDSS levels leads to a greater cumulative value due to slower disability progression, which extends years with higher quality-of-life.     

Management earnings forecasts and bank loan contracting

We find that firms tend to issue management earnings forecasts and convey good news before bank loan initiation. Issuing firms enjoy more favorable contracting terms and attract more lenders. Management forecasts issuance within a nine‐month period prior to the loan activating quarter can lower the subsequent loan spread by 14.06 basis points. Moreover, firms with larger management forecast errors are charged harsher contracting terms and attract fewer lenders. Our study suggests that firms strategically issue management earnings forecasts before entering into debt contracts and lenders incorporate the information contained in management earnings forecasts into bank loan contracting.     

ICT Proficiency and gender: a validation on training and development

Use of innovative learning/instruction mode, embedded in the Certification Pathway System (CPS) developed by Certiport TM, is geared toward Internet and Computing Benchmark & Mentor specifically for IC³ certification. The Internet and Computing Core Certification (IC³), as an industrybased credentialing program, utilizes CPS and has been recognized by the Certification Recognition Program of the National Skill Standards Board (NSSB) in the US. The CPS, as an individualized learning plan, gears to guide learners through the learning process of pre-assessment, training, practice tests, and portfolio management. The study is to examine whether there are differential effects on computer competency and performance, specifically taking into account gender and types of enrolled program in relation to career and technical education. Our research addresses whether the gender-related differences along with enrolled programs and levels of study differ in performance of information and communications technologies (ICT) including the aspects of Computer Fundamentals (CF), Key Applications (KA), and Living Online (LO). A total of 185 university students were randomly assigned to participate in the CPS and encouraged to take a series of certifying exams. In addition to the official certifying exams, the participants took the CPS which focuses on the three learning processes, i.e., preassessment, training, practice tests. The results showed that gender-related differences exist in all three aspects of ICT performance. In terms of levels of study (LS), differences existed only in the aspects of CF and LO. Various types of enrolled programs (i.e. day program, evening program, weekend program) differ in all the three aspects (i.e., CF, KA, LO). Further discussion and implications were also included.