Investment — assessing a manager's skill and monitoring the risks

1994 ◽  
Vol 121 (1) ◽  
pp. 69-117
Author(s):  
N. Day ◽  
S. J. Green ◽  
J. Plymen
Keyword(s):  
Performance Measurement ◽  
Performance Monitoring ◽  
Measurement Techniques ◽  
Value Added ◽  
Investment Performance ◽  
Manager Skill

AbstractThe paper proposes a new way of assessing an investment manager's skill in the day-to-day management of portfolios. The authors argue that traditional investment performance measurement techniques, whilst appropriate for many purposes, do not provide the insights necessary to judge the skill of investment managers. To judge manager skill, it is necessary to consider the activity within the portfolio in terms of the purchases, sales and trades, and to determine the value added by that activity. The paper sets out a framework by which this analysis can be carried out and, by means of examples, indicates how the results can be interpreted. The paper also explores briefly a number of other issues such as the qualitative aspects of performance monitoring. In writing the paper, the concept of risk in various guises was never far from the authors' minds, and it is true to say that the meaning of risk in the context of assessing manager skill lies at the very heart of the paper.

Investment – Assessing a Manager's Skill and Monitoring the Risks

1992 ◽  
Vol 44 ◽  
pp. 318-372
Author(s):  
N. Day ◽  
S. J. Green ◽  
J. Plymen
Keyword(s):  
Performance Measurement ◽  
Performance Monitoring ◽  
Measurement Techniques ◽  
Value Added ◽  
Investment Performance ◽  
Manager Skill

AbstractThe paper proposes a new way of assessing an investment manager's skill in the day-to-day management of portfolios. The authors argue that traditional investment performance measurement techniques, whilst appropriate for many purposes, do not provide the insights necessary to judge the skill of investment managers. To judge manager skill, it is necessary to consider the activity within the portfolio in terms of the purchases, sales and trades, and to determine the value added by that activity. The paper sets out a framework by which this analysis can be carried out and, by means of examples, indicates how the results can be interpreted. The paper also explores briefly a number of other issues such as the qualitative aspects of performance monitoring. In writing the paper, the concept of risk in various guises was never far from the authors' minds, and it is true to say that the meaning of risk in the context of assessing manager skill lies at the very heart of the paper.

A Review of Studies on Real Estate Investment Performance in Nigeria

2021 ◽  
Vol 15 (2) ◽  
pp. 16-31
Author(s):  
Yusuf Halim Agava ◽  
Nurudeen Akinsola Bello ◽  
Omolola Elizabeth Dairo
Keyword(s):  
Real Estate ◽  
Performance Measurement ◽  
Measurement Techniques ◽  
Research Area ◽  
Theory And Practice ◽  
Research Trend ◽  
Property Market ◽  
Real Estate Investment ◽  
Investment Performance ◽  
Southwest Nigeria

This study has been conducted to review the studies conducted on property investment performance in Nigeria with the aim of providing a clear insight into the trend, authors’ affiliations, performance measurement techniques and the geographical focus of these studies. Published and unpublished research works in this research area were sourced and reviewed. The data and information used were sourced from online databases such as Google, Google Scholar, ScienceDirect, ProQuest, and ResearchGate. Printed journals (local and international), published and unpublished Masters and PhD theses were also among the sources of the data used. Descriptive statistics were used to analyse the authors’ contributions, affiliations, geographical focus and the annual research trend of real estate investment performance in Nigeria and the results reported. The study found that the first study conducted on the performance of real estate investment was Olaleye (2000) followed by Olaleye (2002). Olaleye, A., Oyewole, M. O. and Dabara, D. I. were found to be the most active and leading researchers on this research area with contributory scores of 3.87, 3.61 and 3.21 respectively. On the average, about 2 studies on the subject were carried out annually with focus majorly on the Lagos property market, Southwest Nigeria. The review further revealed that nominal rate of returns, Sharpe index and coefficient of variation were the common performance measurement indices often adopted by majority of the previous authors. This study recommends that collaborative effort should be established among scholars of estate management and practicing estate surveyors and valuers with a view to bridging the gap between theory and practice and boosting property data banking in Nigeria. The geographical scope of real estate investment performance in Nigeria needs to be expanded to adequately cover all the regional property markets.

The Effect of Application of Management Accounting To Performance through Strategy

2017 ◽  
Vol 2 (4) ◽  
pp. 12-20
Author(s):  
Ali Muktiyanto
Keyword(s):  
Higher Education ◽  
Balanced Scorecard ◽  
Structural Equation ◽  
Management Accounting ◽  
Measurement Techniques ◽  
Economic Value ◽  
Value Added ◽  
Equation Modeling ◽  
Activity Based Costing ◽  
Study Program

Objective - The context strategy as process and strategy as content have significant impact to the correlation between strategy and management accounting (Muktiyanto, 2016; Parnell, 2010). In the context strategy as process, this paper aims to investigate the role of management accounting to performance through the choice of strategy. Methodology/Technique - The method by structural equation modeling on 70 (seventy) of undergraduate Accounting Study Program (composition: 70% Private Universities and 30% Public Universities). Opposite with Henry (2006) and Widener (2007) and support with Speklé and Verbeeten (2014) and Acquaah (2013). Findings - This paper shown that the accounting management directly influence the performance, but not mediated by strategy. The practice of budgetary slack, the implementation of modern accounting such as activity-based costing and target costing, the use of performance measurement techniques such as the balanced scorecard, measurements based performance, and the economic value added, as well as integrated information system is an important factor in improving the performance of Higher Education. Unfortunately, the choice of strategy moderate or "stuck in the middle" has not been able to improve the performance of Higher Education directly nor as a mediating between management accounting and performance. However, in the context strategy as process, management accounting have positive influence to the strategic choice. Novelty - The effort of Higher Education to improve the performance is choose a single strategy or focus on the prospector's strategy. Type of Paper: Empirical Keywords: Management Accounting, Strategy, Performance, Indonesia. JEL Classification: M40, M41

scholarly journals Simple multiprocessor performance measurement techniques and examples of their use

1986 ◽  
Author(s):  
Alan Mink ◽  
John W Roberts ◽  
Jesse M Draper ◽  
Robert J Carpenter
Keyword(s):  
Performance Measurement ◽  
Measurement Techniques

scholarly journals ANALYSIS OF RELATIONSHIPS BETWEEN INTELLECTUAL CAPITAL AND MEASUREMENT PERFORMANCE INDICATORS OF THE PHARMACEUTICAL COMPANIES IN TEHRAN STOCK EXCHANGE

2015 ◽  
Vol 37 ◽  
pp. 58
Author(s):  
Hadi Kord Javadi ◽  
Zahra Kohandel ◽  
Khadije Fardi
Keyword(s):  
Performance Measurement ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Statistical Significance ◽  
Value Added ◽  
Two Dimensions ◽  
Pharmaceutical Companies ◽  
Statistical Population ◽  
And Performance ◽  
Spearman Test

http://dx.doi.org/10.5902/2179460X19440Intellectual Capital is the most precious possession of companies in modern economy; therefore, Intellectual Capital of industrial centers is ever-increasingly changing to become the chief indicators both in company operations and in improving its ability to manage the organization capitals. In the main, the current study aims to investigate the relationship between the Intellectual Capital and performance measurement. In this research, the independent variable is the intellectual capital having three dimensions of human, structure and physical capitals, and the dependent variable is the organization operation with two dimensions of economical and accounting which are going to be assessed in this study. The Statistical population is the pharmaceutical companies admitted in the Tehran Stock Exchange from 1387 to 1391 amounting to 30 companies in total. This research investigates the time span from the beginning of 1387 up to the end of year, 1391. Data relevant to variables has been collected by the software of the Stock Exchange. The collection of data has been carried out by means of SPSS. In this study, the researcher used the descriptive and inferential statistics (Spearman test) and the results show that the hypotheses are a s follows 1. There is statistical significance between intellectual capital and performance measurement, 2. There is no statistical significance between the intellectual capital and ROR of the owners’ salary, 3. There is no statistical significance between the intellectual capital and the ROR of the properties, 4. There is statistical significance between the intellectual capital and the value added of the market, 5. There statistical significance between the intellectual capital and economic value added.

Advanced Instructional Provisions and Automated Performance Measurement

1973 ◽  
Vol 15 (6) ◽  
pp. 583-597 ◽  
Author(s):  
Patricia A. Knoop
Keyword(s):  
Performance Measurement ◽  
Transfer Of Training ◽  
Measurement Techniques ◽  
Feasibility Studies ◽  
Pilot Training ◽  
Simulation Research ◽  
Research Software ◽  
Simulation Techniques ◽  
Training Research ◽  
Alternative Approaches

An advanced simulation research system is being developed to support experiments oriented toward quantifying the effect on transfer of training of alternative training and simulation techniques. Included in the system is sophisticated training research software which automates most of the functions traditionally performed by flight simulator instructors or operators. Also under development are techniques for automatically assessing pilot proficiency in the simulator and in the operational aircraft. Recent feasibility studies in performance measurement resulted in identification of necessary flight variables for assessing proficiency on two undergraduate pilot training maneuvers; established alternative approaches to developing measurement techniques on a broader scale; applied existing technology to develop an in-flight data acquisition system for the T-37 aircraft; and raised (or, more correctly, reraised) issues regarding standardization in instruction and rating procedures.

Briggs & Stratton, Inc.

2017 ◽  
pp. 1-17
Author(s):  
Kenneth M. Eades ◽  
Martson Gould ◽  
Jennifer Hill
Keyword(s):  
Performance Evaluation ◽  
Performance Measurement ◽  
Student Learning ◽  
Economic Value ◽  
Value Added ◽  
Strategic Plan ◽  
Economic Value Added ◽  
Comprehensive Strategy ◽  
Enhance Student Learning

The student's task is to develop a comprehensive strategy for Briggs & Stratton, which is facing severe competition and margin pressures. A major component of the strategy to be considered is whether to implement economic value added (EVA) as a new performance measurement for management. The case is designed to serve as an introduction to how to compute and use EVA. It emphasizes the importance of performance evaluation as part of a larger strategic plan. A teaching note is available to registered faculty, as well as two video supplements to enhance student learning.

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