This paper proposes a unifying theory of forecasting in the form of a Golden Rule of Forecasting. The Golden Rule is to be conservative. A conservative forecast is consistent with cumulative knowledge about the present and the past. To be conservative, forecasters must seek all knowledge...

This perspective paper discusses challenges and risks of the information age, and the implications for the information and communication technologies that need to be built and operated. It addresses ethical and policy issues related with Big Data and how procedures for privacy-preserving data...

In the last two decades (70 and 80) there took place an intensive controversy in the field of Industrial and Work Sociology. There the topic of the study object of this scientific discipline is again discussed. This controversy, however, has a relatively different sense in comparison with the...

This article documents the adoption of computer technology by a civil engineering services and construction company in Mexico at the time that it became the first Mexican multinational enterprise. Computerization took place independently of cross border growth. The challenges, failures and...

This paper aims to measure the role of police modernization scheme in its performance in crime repression. We use output distance function as an analytical tool and estimate it using stochastic frontier analysis (SFA) framework in a ‘single stage’. We find that the police modernization...

Residual income as commonly described in academic papers and in real-life applications may be formally described as a function of three variables: (i) the capital invested, (ii) the rate of return, (iii) the opportunity cost of capital. This paper shows that a different paradigm of residual...

This paper analyzes a multi-task agency model with a risk-neutral and financially constrained agent. The agent's performance evaluation is thereby incongruent, i.e. it does not perfectly reflect the relative contribution of the agent's multi-dimensional effort to firm's profit. This paper...

This paper deals with the notion of residual income, which may be defined as the surplus profit that residues after a capital charge (opportunity cost) has been covered. While the origins of the notion trace back to the 19th century, in-depth theoretical investigations and widespread real-life...

Performance measurement is a systematic process who affords evaluation of the efficiency and effectiveness of an organization or a program. It applies real information (quantitative and qualitative characteristics) to help managers and customers (in our case, the citizens) to determine whether...

This chapter discusses methods and techniques for measuring and evaluating performance for the purpose of controlling the investment process. However, many of the methods discussed in this chapter are also used in communicating investment performance between the investment management company and...