An Upper Bound for an Ex Post Sharpe Ratio with Application in Performance Measurement

CFA Digest ◽  
2018 ◽  
Vol 48 (5) ◽  
Author(s):  
Sadaf Aliuddin
Keyword(s):  
Performance Measurement ◽  
Upper Bound ◽  
Sharpe Ratio ◽  
Ex Post

scholarly journals Performance Measurement at Universities: Studying Function and Effect of Student Evaluations of Teaching

2014 ◽  
Vol 1 (1) ◽  
pp. 48
Author(s):  
Klarissa Lueg
Keyword(s):  
Performance Measurement ◽  
Public Management ◽  
New Public Management ◽  
Reliability And Validity ◽  
Measurement Instrument ◽  
Student Evaluations ◽  
Teaching Improvement ◽  
Student Evaluations Of Teaching ◽  
Ex Post ◽  
New Public

<p>This paper proposes empirical approaches to testing the reliability, validity, and organizational effectiveness of student evaluations of teaching (SET) as a performance measurement instrument in knowledge management at the institutional level of universities. Departing from Weber’s concept of bureaucracy and critical responses to this concept, we discuss how contemporary SET are used as an instrument of organizational control at Danish universities. A discussion of the current state of performance measurement within the frame of new public management (NPM) and its impact on knowledge creation and legitimation forms the basis for proposing four steps of investigation. The suggested mixed-methods approach comprises the following: first, thematic analysis can serve as a tool to evaluate the legitimacy discourse as initiated by official SET affirmative documents by government, university, and students. Second, constructs for the SET questionnaire can be developed and compared to existing SET questionnaires in terms of reliability and validity. Third, data from SET can be used to corroborate the relationship between the qualitative (comments) and quantitative (scaled questionnaire) sections. Fourth, it can be investigated if SET actually contribute to teaching improvement by examining how the instrument is integrated into systematic ex-ante and ex-post organizational management. It is expected to find discrepancy between the proponents’ intent to evaluate teaching and the way the performance measurement instrument is implemented. </p>

An enhanced framework for assessing the operational performance of public-private partnership school projects

2018 ◽  
Vol 8 (2) ◽  
pp. 194-214 ◽  
Author(s):  
Ali Mohammed Saeed ◽  
Colin Duffield ◽  
Felix Kin Peng Hui
Keyword(s):  
Performance Evaluation ◽  
Comparative Analysis ◽  
Performance Measurement ◽  
Case Studies ◽  
Public Private Partnership ◽  
Operational Performance ◽  
Private Partnership ◽  
Content Type ◽  
Measurement Framework ◽  
Ex Post

Purpose A study of the current practices for evaluating the ex-post performance of public-private partnership (PPP) school projects in Australia via literature review and qualitative case studies has found that no consistent approach exists for evaluating operational performance. A detailed critique of international PPP audits and practices has identified existing gaps in ex-post performance evaluation. Through a process of comparative analysis and industry confirmation, a performance analysis technique aligned with international practice has been developed that can be utilised by the educational departments across Australia to evaluate the ex-post performance of PPP projects (PPPs). The paper aims to discuss these issues. Design/methodology/approach This paper opted for qualitative archival analysis of case studies using pattern matching, explanation building, time series, and comparative analysis. The data used for document analysis included value reports, project summaries, and contract documents, as well as local and international audit guidelines. Findings This paper reviewed current practices, identified a range of processes, and reported the best practices. However, consideration of the approaches taken in the UK and Australia for evaluating operational performance indicates that current techniques lack consistency. Research limitations/implications The developed ex-post performance measurement framework is limited to Australian PPP school projects and, at this stage, cannot be generalised to other social PPP projects. Practical implications The paper includes implications for the development of better performance evaluation practices and audits. Social implications An enhanced framework for measuring operational performance will increase the accountability of taxpayers in the content of their utilisation by the government. Originality/value This paper presents an enhanced ex-post performance measurement framework for education departments across Australia.

Portfolio Performance Measurement: Monotonicity with Respect to the Sharpe Ratio and Multivariate Tests of Correlation

2017 ◽  
Author(s):  
Christopher J. Adcock ◽  
Nelson Manuel de Pinho Branddo da Costa Areal ◽  
Manuel Joss Rocha Armada ◽  
Maria Ceu Cortez ◽  
Benilde Oliveira ◽  
...  
Keyword(s):  
Performance Measurement ◽  
Sharpe Ratio ◽  
Portfolio Performance ◽  
Multivariate Tests

An Intricate Multiple-Factor Approach To Evaluate Performance Of Indian Mutual Fund

2013 ◽  
Vol 8 (2) ◽  
Author(s):  
Suyash Bhatt
Keyword(s):  
Standard Deviation ◽  
Performance Measurement ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Research Paper ◽  
Sharpe Ratio ◽  
Portfolio Performance ◽  
Equity Fund ◽  
Alpha Beta ◽  
Multiple Factor

This research paper examines performance of top twelve Indian mutual funds by Asset Under Management (AUM).  We use seven portfolio performance measurement parameters like Alpha, Beta, Standard Deviation, R Squared, Sharpe Ratio, Treynor Ratio and Jensen’s Alpha. The study reveals which amongst these mutual fund is the best performer based on all these parameters and the benchmark taken for this is NIFTY Index. The mutual funds selected are HDFC Top 200 Fund, Franklin India Bluechip Fund, ICICI Prudential Focused Bluechip Equity Fund, DSPBR Top 100  Equity Fund, Birla Sun Life Equity Fund, DSPBR Top 100  Equity Fund, UTI Mastershare Fund, Reliance Equity Opportunity Fund, SBI Magnum Equity, Reliance Top 200 Fund, SBI Bluechip Fund, ICICI Prudential Top 200 Fund, Principal Large Cap Fund. This study is primarily done to evaluate performance of the select mutual funds over a period of five years.

Public-Private Partnerships: a review of theory and practice of performance measurement

2014 ◽  
Vol 63 (4) ◽  
pp. 499-512 ◽  
Author(s):  
Junxiao Liu ◽  
Peter E.D. Love ◽  
Jim Smith ◽  
Michael Regan ◽  
Monty Sutrisna
Keyword(s):  
Performance Measurement ◽  
Theory And Practice ◽  
Public Private Partnerships ◽  
Performance Measurement System ◽  
Business Success ◽  
Infrastructure Projects ◽  
Social Infrastructure ◽  
Content Type ◽  
Measurement Framework ◽  
Ex Post

Purpose – This paper reviews the normative literature of performance measurement within the context of Public-Private Partnerships (PPPs). The purpose of this paper is to examine the effectiveness of current ex post evaluations of PPPs and identify a feasible direction to comprehensively and effectively measure the performance of PPP infrastructure projects. Design/methodology/approach – An in-depth literature review is conducted in this paper. The focus of the review is associated with the general performance measurement and performance measurements of PPPs. Findings – This paper identifies that conventional ex post evaluation is not robust enough to measure the performance of PPP projects. Based on the characteristics of PPPs, the life-cycle (process-based) evaluation under performance measurement system is a promising approach to comprehensive and effective PPP performance measurement. Practical implications – The outcomes of this paper can be used as a theoretical base for the development of PPP performance measurement framework. Originality/value – Performance measurement is essential to business success, whether it is at the organisation or project level. Limitations on public funds have encouraged more and more governments across the world to use PPPs to procure economic and social infrastructure projects. Similar to traditional procurement, ex post evaluation is being widely used in PPP projects. However, PPPs are more complicated than other traditional procurement approaches. Exploration of literature suggests that limited research has been undertaken to examine if conventional ex post evaluation is sufficient to measure the performance of PPPs. This paper will bridge this significant knowledge gap.

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