The complexity in measuring M&A performance: Is a multi-dimensional approach enough?

2021 ◽  
pp. 89-117
Author(s):  
Elisa Roncagliolo ◽  
Francesco Avallone
Keyword(s):  
Performance Measures ◽  
Performance Indicators ◽  
Corporate Performance ◽  
Limited Attention ◽  
Dimensional Approach ◽  
Comprehensive Examination ◽  
Complex Events ◽  
The Cost ◽  
Performance Dimension ◽  
A Performance

M&A are complex corporate events involving two or more companies and often requiring relevant efforts in order to be successful. For these reasons, both scholars and practitioners are interested in assessing the success rate of M&A and measuring their influence on the corporate performance. Despite the complexity of the M&A phenomenon, previous studies that empirically examine this issue according to an accounting-based perspective, largely adopt single performance measures. Therefore, our study aims to explore whether the use of a multi-dimensional approach in the development of accounting-based performance measures could provide a comprehensive examination of the change in corporate performance due to complex events, such as M&A. In particular, this study assesses the performance of M&A concluded in the European context through the development of multiple accounting-based performance indicators that examine: (i) profitability, (ii) growth, and (iii) financial situation. In addition, we analyse a crucial performance dimension, the cost of employment, which has received limited attention from previous empirical research. Consistently with the multifaceted nature of M&A, results indicate that they provide a mixed impact on different performance measures. Therefore, main findings suggest that the measurement of M&A performance should take into consideration different contextual features

Performance-based incentives for agricultural pollution control: identifying and assessing performance measures in the United States

Water Policy ◽  
2011 ◽  
Vol 13 (5) ◽  
pp. 677-692 ◽  
Author(s):  
Jonathan R. Winsten ◽  
Claire Baffaut ◽  
Joseph Britt ◽  
Tatiana Borisova ◽  
Chad Ingels ◽  
...  
Keyword(s):  
Performance Measures ◽  
Best Management Practices ◽  
Water Conservation ◽  
Environmental Performance ◽  
Management Practices ◽  
The United States ◽  
Performance Measure ◽  
Definition Of ◽  
The Cost ◽  
A Performance

Current federal and state soil and water conservation programs consist primarily of cost-sharing or compensating farmers for implementing a set of pre-defined best management practices. This approach does not consider specific environmental outcomes or the cost-effectiveness of the program at the farm or watershed level. Performance-based incentives are payments that are attached to a specified environmental performance measure, for example a reduction in nutrient, sediment, pesticide, or bacteria loss from a field, or reduction in loading at the mouth of a watershed. Assessing environmental performance requires the definition of a performance measure, which is used to calculate resulting incentive payments. In this paper, we discuss issues related to the selection of a performance measure, such as the scale at which the performance is measured, modeling versus monitoring, and the ability of the measure to foster farmer learning and adaptive management. Numerous examples of performance measures adopted or considered by watershed stakeholders in several states are presented. Watershed managers, policy makers, and extension agents can consider this information to make informed choices among proposed approaches toward improving water quality in streams affected by agricultural nonpoint source pollution.

scholarly journals Public reporting of performance measures in long-term care in Canada: does it make a difference?

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
M Poldrugovac ◽  
J E Amuah ◽  
H Wei-Randall ◽  
P Sidhom ◽  
K Morris ◽  
...  
Keyword(s):  
Performance Measures ◽  
Performance Indicators ◽  
Long Term Care ◽  
Public Reporting ◽  
Policy Implications ◽  
Term Care ◽  
Factors Affecting ◽  
Care Facilities ◽  
The Impact

Abstract Background Evidence of the impact of public reporting of healthcare performance on quality improvement is not yet sufficient to draw conclusions with certainty, despite the important policy implications. This study explored the impact of implementing public reporting of performance indicators of long-term care facilities in Canada. The objective was to analyse whether improvements can be observed in performance measures after publication. Methods We considered 16 performance indicators in long-term care in Canada, 8 of which are publicly reported at a facility level, while the other 8 are privately reported. We analysed data from the Continuing Care Reporting System managed by the Canadian Institute for Health Information and based on information collection with RAI-MDS 2.0 © between the fiscal years 2011 and 2018. A multilevel model was developed to analyse time trends, before and after publication, which started in 2015. The analysis was also stratified by key sample characteristics, such as the facilities' jurisdiction, size, urban or rural location and performance prior to publication. Results Data from 1087 long-term care facilities were included. Among the 8 publicly reported indicators, the trend in the period after publication did not change significantly in 5 cases, improved in 2 cases and worsened in 1 case. Among the 8 privately reported indicators, no change was observed in 7, and worsening in 1 indicator. The stratification of the data suggests that for those indicators that were already improving prior to public reporting, there was either no change in trend or there was a decrease in the rate of improvement after publication. For those indicators that showed a worsening trend prior to public reporting, the contrary was observed. Conclusions Our findings suggest public reporting of performance data can support change. The trends of performance indicators prior to publication appear to have an impact on whether further change will occur after publication. Key messages Public reporting is likely one of the factors affecting change in performance in long-term care facilities. Public reporting of performance measures in long-term care facilities may support improvements in particular in cases where improvement was not observed before publication.

THE FOREIGN BANK EFFECT ON VALUE CREATION IN COMMERCIAL BANKS INCORPORATED IN THAILAND

2008 ◽  
Vol 53 (02) ◽  
pp. 215-244
Author(s):  
CHANTAL HERBERHOLZ
Keyword(s):  
Performance Measures ◽  
Commercial Banks ◽  
Economic Value ◽  
Value Added ◽  
Foreign Bank ◽  
Level Data ◽  
Beneficial Impact ◽  
Domestic Banks ◽  
The Cost ◽  
Traditional Performance

Using quarterly bank-level data over the period 1997–2005, this paper examines the effect of foreign bank presence on commercial banks incorporated in Thailand, using traditional and value-based performance measures as indicators of the degree of competition and proxies for the efficiency in the provision of banking services. The findings suggest that foreign bank presence is not only beneficial in terms of traditional performance measures, but also in terms of economic profit. The results with respect to economic value added and cash value added, however, cast some doubt over the presumed benefits of opening up, underlining the importance of using a proxy that considers the cost of equity and departs from standard accounting principles. Furthermore, the results indicate that foreign entry through the acquisition of domestic banks appears to have a stronger and more beneficial impact on locally incorporated banks than through the establishment of branches, with majority ownership by a foreign blockholder being of importance.

scholarly journals The Impact of Accounting Conservatism on Corporate Performance Indicators in Egypt

2019 ◽  
Vol 14 (10) ◽  
pp. 1
Author(s):  
Hanaa A. El-Habashy
Keyword(s):  
Performance Indicators ◽  
Corporate Performance ◽  
Positive Impact ◽  
Accounting Conservatism ◽  
Return On Assets ◽  
Return On Equity ◽  
Accounting Performance ◽  
Conservative Accounting ◽  
The Impact ◽  
Positive Effect

This study aims to investigate the impact of conservative accounting on corporate performance indicators of Egyptian firms. A sample of balanced data for the 40 most active non-financial companies was collected in the period 2009-2014 to test hypotheses. Panel regression models were used for data analysis. Givoly & Hayn (2000) indicator is used as a benchmark for measuring accounting conservatism. The corporate performance indicators used in this study are return-on-assets (ROA) and return on equity (ROE) representing accounting performance measures, as well as Tobin’s Q which measures market performance. The results of the research show that accounting conservatism has a significant positive impact on corporate performance indicators. This reflects the positive effect of corporate performance on shareholders that leads to a strong corporate financial position. To the best of our knowledge, no study has been conducted in Egypt as an emerging economy.

Casing While Drilling Application: Changing Mitigation to a Performance

2021 ◽  
Author(s):  
Alexey Ruzhnikov ◽  
Fahad AlHosni ◽  
Edgar Garnica Echevarria ◽  
Rodrigo Varela
Keyword(s):  
Extensive Study ◽  
Drilling Process ◽  
Wellbore Instability ◽  
Existing Problems ◽  
Drilling Performance ◽  
Geological Conditions ◽  
Pdc Bit ◽  
Low Torque ◽  
The Cost ◽  
A Performance

Abstract Well construction process through the unstable formations prone to total losses, pack-off and water influx is challenging. The manuscript describes the casing while drilling (CwD) combined with stage-cementing tool as introduced solution, when the challenge was to ensure that torque limit is not reached while drilling and estimate the effect of CwD on curing total losses and bring the casing while drilling performance to the level of conventional drilling. Introduction of CwD required extensive study of the potential torque while drilling as existing stage-cementing tools have low torque rating. Additionally, the casing fatigue may be a factor affecting the operations what lead to an introduction of magnetic particle casing inspection. The CwD bit design was adopted to the geological conditions based on best performance of the PDC bit, and originally selected drilling parameters were further optimized based on the result of the first runs. As the drilling of the well required utilization of mud cap for well control purposes, the mud recipes were adjusted to optimize the drilling performance and minimize the cost implication. The proposed solutions allowed to eliminate the problem with wellbore instability and related stuck pipe events. Further the proper engineering of the drilling process allowed significantly increase the rate of penetration since the beginning of the implementation, when the drilling torque never reached the limit even at 7,000 ft depth. The manuscript describes in detail the approach to make a proper design of CwD process focusing on prevention of existing problems and aiming to convert mitigation tool to a performance tool. Additionally, in details described the studied effect of CwD on curing total losses in highly fractured environment.

Performance Management Through Societal Performance Indicators

2011 ◽  
Vol 2 (4) ◽  
pp. 29-41 ◽  
Author(s):  
Joe White
Keyword(s):  
Performance Management ◽  
Performance Measures ◽  
Business Intelligence ◽  
Performance Indicators ◽  
Government Performance ◽  
Financial Outcomes ◽  
Spheres Of Influence ◽  
Literary Research ◽  
Personal Performance ◽  
External Forces

Performance management is tied to external forces and stakeholders whose assessment of performance is more focused on societal outcomes than purely financial outcomes. Government, corporate, and even personal performance measurement should take into account societal indicators that link these disparate yet intertwined spheres of influence. New initiatives in both government and commercial sectors are bringing greater understanding of how societal indicators can measure performance. This paper highlights how societal indicators are used to measure performance in corporate and government sectors. Corporate societal indicators are explored primarily though literary research. Government societal indicators are explored through an examination of the EPA and Superfund program. The paper demonstrates that there is synergy between corporate, government, and personal government performance measures and how business intelligence tools are making these relationships more transparent.

Exploring linkages of performance with metacognition

2019 ◽  
Vol 38 (3) ◽  
pp. 195-207 ◽  
Author(s):  
Paul R. Lyons ◽  
Randall Paul Bandura
Keyword(s):  
Performance Measures ◽  
Performance Indicators ◽  
Design Methodology ◽  
Learning And Development ◽  
Content Type ◽  
Self Evaluation ◽  
Secondary Purpose ◽  
Core Self ◽  
And Training ◽  
Practical Implications

PurposeIn this exploratory, correlational study the authors set out to demonstrate the relationships as well as inter-correlations among direct and indirect performance measures, along with measures of knowledge of cognition, and evaluation of cognition. The information helps inform manager learning and development. The purpose of this paper is twofold: first, primary purpose, to identify linkages of performance with individual’s efforts to improve their learning processes via metacognition; and second, secondary purpose, primarily for the benefit of practitioners, is the provision of detailed information regarding performance measures and practical measures of metacognition.Design/methodology/approachThe study made use of correlation analysis among performance measures and measures of metacognitive effort. The design is not intended to support cause and effect relationships, nor demonstrate the technical, predictive value of measures.FindingsA majority of associations among indirect performance measures with one another and with nearly all of the measures of knowledge of cognition, and evaluation of cognition were positive and significant (mostly at the 0.01 level). Findings offer broad support for the linkage of self-efficacy (SE), and core self-evaluation (CSE) with performance.Practical implicationsRelationships identified in this study may help practitioners alter and improve their practices/methods of identifying individuals who possess attributes that are highly related to performance and learning. The new knowledge may influence decisions about recruitment, selection and training.Originality/valueLittle research has focused on relationships among indirect performance indicators such as SE, CSE and established measures of metacognition. The present study helps to identify important relationships.

scholarly journals New Strategic Thinking in Mitigating the Challenges in Implementing Key Performance Indicators (KPIs) and Increasing Efficiency in Corporate Performance Management in MENA Region

2019 ◽  
Vol 10 (4) ◽  
pp. 59
Author(s):  
Moetaz Soubjaki ◽  
Radwan Choughri
Keyword(s):  
Performance Management ◽  
Significant Relationship ◽  
Performance Indicators ◽  
Corporate Performance ◽  
Implementation Process ◽  
Key Performance Indicators ◽  
Strategic Thinking ◽  
Mena Region ◽  
Effective Implementation ◽  
Goals And Objectives

The implementation of key performance indicators (KPIs) is a challenging task for many businesses. Yet, effective implementation of KPIs is among the major determinants of performance and success of an organization. This study explored the new strategic thinking in mitigating the challenges in implementing key performance indicators (KPIs) and increasing efficiency in corporate performance management in the Middle East & North Africa (MENA) region. The study sought to test three hypotheses: (i) there is a significant relationship between having enough training and awareness sessions before implementation and effective implementation of KPIs; (ii) there is a significant relationship between having KPI professionals and specialists and effective implementation of KPIs; and (iii) there is a significant relationship between having clear KPI goals and objectives, on one hand, and the effective implementation of KPIs on the other. Hypotheses 2 and 3 were proved to be true while results for hypothesis 1 were inconclusive. A total of 1007 participants from across the MENA region were involved in the study. The findings demonstrate the importance of having clear KPI goals and objectives and KPI professionals or specialists to oversee the KPI selection and implementation process. Further research should be conducted to establish whether there is a significant relationship between having enough training and awareness sessions before implementation and effective implementation of KPIs.

scholarly journals Queueing Network with Moving Servers as a Model of Car Sharing Systems

Mathematics ◽  
2019 ◽  
Vol 7 (9) ◽  
pp. 825
Author(s):  
Chesoong Kim ◽  
Sergei Dudin ◽  
Olga Dudina
Keyword(s):  
Markov Chain ◽  
Performance Measures ◽  
Performance Indicators ◽  
Continuous Time ◽  
Queueing Network ◽  
Arrival Process ◽  
Continuous Time Markov Chain ◽  
Car Sharing ◽  
Fleet Size ◽  
Network States

We consider a queueing network with a finite number of nodes and servers moving between the nodes as a model of car sharing. The arrival process of customers to various nodes is defined by a marked Markovian arrival process. The customer that arrives at a certain node when there is no idle server (car) is lost. Otherwise, he/she is able to start the service. With known probability, which depends on the node and the number of available cars, this customer can balk the service and leave the system. The service time of a customer has an exponential distribution. Location of the server in the network after service completion is random with the known probability distribution. The behaviour of the network is described by a multi-dimensional continuous-time Markov chain. The generator of this chain is derived which allows us to compute the stationary distribution of the network states. The formulas for computing the key performance indicators of the system are given. Numerical results are presented. They characterize the dependence of some performance measures of the network and the nodes on the total number of cars (fleet size of the car sharing system) and correlation in the arrival process.

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