We examine term structure theories by using a novel approach. We form bond investment strategies based on different theories of the term structure in order to determine which strategy performs best. When using a manipulation-proof performance measure, we find that consistent with prior...

A real-effort experiment is investigated in which supervisors have to rate the performance of individual workers who in turn receive a bonus payment based on these ratings. We compare a baseline treatment in which supervisors are not restricted in their rating behavior to a forced distribution...

The increasing competition both in the public and private sectors gave rise to a growing interest in quality improvement and in designing and implementing Performance Measurement Systems (PMS). Academic organizations also recognized the need for implementing performance measurement systems. Some...

The implementation of the education criteria for performance excellence (ECPE)—the education version of the Baldrige criteria—is driven by the growing need for performance excellence in higher education. Ironically the criteria meant for performance excellence have no theoretical...

In this paper we present a method to evaluate the quality of a rater’s judgement, which can integrate and enrich the use of inter-rater agreement as a reliability measure. Our proposal is an integrative one and evaluates the quality of a rater’s performance through an analysis of the profile...

This paper fruitfully combines two complementary theories: performance measurement and input-output analysis. Our point of departure is the theory of the consumer, who maximizes utility subject to a budget constraint. His well-being can be measured by the change in the consumption bundle, valued...

We offer a straightforward framework for measurement of progress, across many dimensions, using cross-national social indices, which we classify as linear combinations of multivariate country level data onto a univariate score. We suggest a Bayesian approach which yields probabilistic...

Balanced Scorecard (BSC) is a system of management and an instrument of strategic planning, spread within business and industry, in state public institutions, as well as in non-profit institutions. BSC improves external and internal communication and also monitors the performance of an...

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...

We study a principal-agent model in which the agent can provide ex post additional relevant information regarding his performance. In particular, he can provide a legitimate excuse, that is, evidence that a poor result is only due to factors outside his control. However, building a convincing...