An essential component in the analysis of (hedge) fund returns is to measure its performance with respect to the group of peer funds. Through the analysis of risk-adjusted return percentiles an answer is given to the question how many funds are out-performed by the focal fund. In case all funds...

This note demonstrates how performance measure congruity and noise determine an agency’s total surplus within an linear agency framework with multiple tasks. It provides a decomposition of agency costs, leading back to a congruity index previously proposed in the literature. In addition,...

Performance measurement (PM) is a combination of characteristics of a company that are numerically expressed. The aim of the PM is to provide a feedback about success of current activities and provide insight about future performance. Performance of a company depends on its vision and goals, so...

It is well known that the people of a company are a strong resource for business and that the human resource function is valuable in assisting the workforce in order to accomplish the objective of the company. The productivity of a company is strongly related to its people and its strategies....

This paper describes the application of Data Envelopment Analysis (DEA) to a highway maintenance setting, using measures of inputs, outputs and outcomes reported by New Zealand local authorities. A general framework of performance measurement is developed and illustrated through application to...

The financial crisis has brought compensation systems to regulators' and banks boards' attention: these systems, especially at executive level, seem to have been partially responsible for an excessive risk taking behaviour. The article reviews the main contribution made on compensation,...

This research identified the capabilities used by Canadian hotel general managers during a time of economic stress and examines the relationships between capabilities and hotel performance. The instrument used in this study was the New Zealand Management Capability Index (NZIMCI) and contains...

Since 1989 and the regionalization of public transports in Belgium, the Société des transports intercommunaux de Bruxelles (STIB), i.e. the public operator of urban transport in Brussels, has undergone many changes, both structural and organizational. Meanwhile, the company has managed to...

Осуществлен анализ особенностей, присущих суверенным фондам богатства как субъектам экономических отношений и определены основные подходы к оценке их...

Performance evaluation of the stock market has been in investors’ focus for many decades. There exist a lot of models, methods and theories that try to provide answers to investors’ questions about securities, portfolio and risk management, etc. When making decisions on these topics,...