Arthur Miller and Ola Listhaug
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198295686
- eISBN:
- 9780191600043
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198295685.003.0010
- Subject:
- Political Science, Comparative Politics
Previous chapters have demonstrated that low and declining citizen respect for government institutions and political leaders is characteristic of contemporary industrialized societies. Evidence since ...
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Previous chapters have demonstrated that low and declining citizen respect for government institutions and political leaders is characteristic of contemporary industrialized societies. Evidence since the early 1970s reveals a trend toward growing distrust of government institutions in a number of countries. While this trend is evident, the interpretation of this phenomenon has proved far more controversial. One explanation focuses upon public dissatisfaction with government performance. This chapter explores this question. First, it examines the direct link between government performance, as measured by objective indicators of inflation, unemployment, or government deficits, and institutional confidence in support for government. It then considers the dynamics of political trust and government performance, before moving on to examine the role that expectations play in translating evaluations of government performance into political distrust in three countries where long‐term time‐series data are available—the US, Norway, and Sweden. The study explores how ethical expectations about government standards influence trust in politicians and the conclusion draws some general lessons from the results. The survey data employed in the analysis include the 1990–1 World Values Survey, the Norwegian, Swedish, and US Election Studies, surveys in the US, Russia, Ukraine, and Lithuania; data from the International Monetary Fund (IMF) and OECD are used to measure inflation, unemployment, and government deficits.Less
Previous chapters have demonstrated that low and declining citizen respect for government institutions and political leaders is characteristic of contemporary industrialized societies. Evidence since the early 1970s reveals a trend toward growing distrust of government institutions in a number of countries. While this trend is evident, the interpretation of this phenomenon has proved far more controversial. One explanation focuses upon public dissatisfaction with government performance. This chapter explores this question. First, it examines the direct link between government performance, as measured by objective indicators of inflation, unemployment, or government deficits, and institutional confidence in support for government. It then considers the dynamics of political trust and government performance, before moving on to examine the role that expectations play in translating evaluations of government performance into political distrust in three countries where long‐term time‐series data are available—the US, Norway, and Sweden. The study explores how ethical expectations about government standards influence trust in politicians and the conclusion draws some general lessons from the results. The survey data employed in the analysis include the 1990–1 World Values Survey, the Norwegian, Swedish, and US Election Studies, surveys in the US, Russia, Ukraine, and Lithuania; data from the International Monetary Fund (IMF) and OECD are used to measure inflation, unemployment, and government deficits.
Robert Rohrschneider
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198295174
- eISBN:
- 9780191685088
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198295174.003.0009
- Subject:
- Political Science, Comparative Politics
This chapter examines how a person's ideological values affect his institutional support. The first part of the chapter argues that the original formulation of the congruence postulate in Almond and ...
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This chapter examines how a person's ideological values affect his institutional support. The first part of the chapter argues that the original formulation of the congruence postulate in Almond and Verba's The Civic Culture actually contains two versions and that these variants complicate the discussion between culturalists and institutionalists. The chapter then uses the ideological performance axiom to develop hypotheses that are tested in the second part of the chapter. The chapter addresses one controversial debate in the democratic transition literature: is congruence necessary between citizens' ideological values and existing institutions? Or is the performance of institutions the main source of political stability? The chapter suggests of a way to bridge separate strands of the democratic transition literature by focusing on the relationship between ideological values and performance evaluations. The chapter concludes that performance evaluations and ideological values jointly influence citizens' views about democracies, both in Germany and East-Central Europe.Less
This chapter examines how a person's ideological values affect his institutional support. The first part of the chapter argues that the original formulation of the congruence postulate in Almond and Verba's The Civic Culture actually contains two versions and that these variants complicate the discussion between culturalists and institutionalists. The chapter then uses the ideological performance axiom to develop hypotheses that are tested in the second part of the chapter. The chapter addresses one controversial debate in the democratic transition literature: is congruence necessary between citizens' ideological values and existing institutions? Or is the performance of institutions the main source of political stability? The chapter suggests of a way to bridge separate strands of the democratic transition literature by focusing on the relationship between ideological values and performance evaluations. The chapter concludes that performance evaluations and ideological values jointly influence citizens' views about democracies, both in Germany and East-Central Europe.
August Baker, Dennis E. Logue, and Jack S. Rader
- Published in print:
- 2004
- Published Online:
- July 2005
- ISBN:
- 9780195165906
- eISBN:
- 9780199835508
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019516590X.003.0015
- Subject:
- Economics and Finance, Financial Economics
Improving the investment performance of pension fund asset pools begins with a careful evaluation of the current performance of the plan, and then taking action to improve future performance. This ...
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Improving the investment performance of pension fund asset pools begins with a careful evaluation of the current performance of the plan, and then taking action to improve future performance. This chapter discusses how performance measurement techniques may be used to evaluate pension fund performance, and some important limitations of performance measurement. It reviews the evidence on money managers’ abilities to perform and looks at the issue of using historical performance to select managers.Less
Improving the investment performance of pension fund asset pools begins with a careful evaluation of the current performance of the plan, and then taking action to improve future performance. This chapter discusses how performance measurement techniques may be used to evaluate pension fund performance, and some important limitations of performance measurement. It reviews the evidence on money managers’ abilities to perform and looks at the issue of using historical performance to select managers.
August Baker, Dennis E. Logue, and Jack S. Rader
- Published in print:
- 2004
- Published Online:
- July 2005
- ISBN:
- 9780195165906
- eISBN:
- 9780199835508
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019516590X.003.0014
- Subject:
- Economics and Finance, Financial Economics
Pension plan sponsors, administrators, managers, trustees, and others must periodically evaluate the investment performance of the fund’s asset pool. Performance evaluation has several components: ...
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Pension plan sponsors, administrators, managers, trustees, and others must periodically evaluate the investment performance of the fund’s asset pool. Performance evaluation has several components: the alternative computations used in measuring returns, the correct ways to measure and adjust for risk, how benchmarks should be chosen or constructed, and attribution analysis — decomposing investment performance into the exposure of the fund to various market segments, the quality of the selection of assets, and the timing of movements of capital among asset classes. This chapter describes how each of these issues should be handled and what each contributes to understanding performance and decision-making.Less
Pension plan sponsors, administrators, managers, trustees, and others must periodically evaluate the investment performance of the fund’s asset pool. Performance evaluation has several components: the alternative computations used in measuring returns, the correct ways to measure and adjust for risk, how benchmarks should be chosen or constructed, and attribution analysis — decomposing investment performance into the exposure of the fund to various market segments, the quality of the selection of assets, and the timing of movements of capital among asset classes. This chapter describes how each of these issues should be handled and what each contributes to understanding performance and decision-making.
Robert Rohrschneider
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198295174
- eISBN:
- 9780191685088
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198295174.003.0002
- Subject:
- Political Science, Comparative Politics
This chapter discusses the institutional learning model. The chapter examines how restraint, self-reliance, and corresponding ideals are developed together, and why a country's institutional ...
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This chapter discusses the institutional learning model. The chapter examines how restraint, self-reliance, and corresponding ideals are developed together, and why a country's institutional framework is important in providing the people with opportunities to develop these cititizenship-qualities. The chapter suggests two criteria for examining when the effect of institutional learning may be offset by the diffusion of values, across systemic boundaries, at the level of mass public and political elite. It also establishes the relationship between ideological values, citizens's performance evaluations of existing institutions, and their support for these institutions. The chapter concludes that the institutional learning perspective bridges the gaps in the democratic transition literature.Less
This chapter discusses the institutional learning model. The chapter examines how restraint, self-reliance, and corresponding ideals are developed together, and why a country's institutional framework is important in providing the people with opportunities to develop these cititizenship-qualities. The chapter suggests two criteria for examining when the effect of institutional learning may be offset by the diffusion of values, across systemic boundaries, at the level of mass public and political elite. It also establishes the relationship between ideological values, citizens's performance evaluations of existing institutions, and their support for these institutions. The chapter concludes that the institutional learning perspective bridges the gaps in the democratic transition literature.
Sergei Zuyev
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199232574
- eISBN:
- 9780191716393
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199232574.003.0016
- Subject:
- Mathematics, Geometry / Topology
Just as queueing theory revolutionized the study of circuit switched telephony in the twentieth century, stochastic geometry is gradually becoming a necessary theoretical tool for modelling and ...
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Just as queueing theory revolutionized the study of circuit switched telephony in the twentieth century, stochastic geometry is gradually becoming a necessary theoretical tool for modelling and analysis of modern telecommunications systems, in which spatial arrangement is typically a crucial consideration in their performance evaluation, optimization or future development. In this survey we aim to summarize the main stochastic geometry models and tools currently used in studying modern telecommunications. We outline specifics of wired, wireless fixed and ad hoc systems and show how stochastic geometry modelling helps in their analysis and optimization. Point and line processes, Palm theory, shot‐noise processes, random tessellations, Boolean models, percolation, random graphs and networks, spatial statistics and optimization: this is a far from exhaustive list of techniques used in studying contemporary telecommunications systems and which we shall briefly discuss.Less
Just as queueing theory revolutionized the study of circuit switched telephony in the twentieth century, stochastic geometry is gradually becoming a necessary theoretical tool for modelling and analysis of modern telecommunications systems, in which spatial arrangement is typically a crucial consideration in their performance evaluation, optimization or future development. In this survey we aim to summarize the main stochastic geometry models and tools currently used in studying modern telecommunications. We outline specifics of wired, wireless fixed and ad hoc systems and show how stochastic geometry modelling helps in their analysis and optimization. Point and line processes, Palm theory, shot‐noise processes, random tessellations, Boolean models, percolation, random graphs and networks, spatial statistics and optimization: this is a far from exhaustive list of techniques used in studying contemporary telecommunications systems and which we shall briefly discuss.
August Baker, Dennis E. Logue, and Jack S. Rader
- Published in print:
- 2004
- Published Online:
- July 2005
- ISBN:
- 9780195165906
- eISBN:
- 9780199835508
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019516590X.003.0022
- Subject:
- Economics and Finance, Financial Economics
This chapter presents a synthesis of the topics discussed in the preceding chapters. Sensible pension management begins with a clear understanding of the purpose of the plan. The second step is ...
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This chapter presents a synthesis of the topics discussed in the preceding chapters. Sensible pension management begins with a clear understanding of the purpose of the plan. The second step is establishing policies that govern investment and management activities. The primary purpose of policy is to provide useful guidelines for decision making and to communicate unambiguously to all parties what the plan is trying to do and how it is going about it. The issues of prudent behavior, investment management, managing plan investment managers, performance monitoring and evaluation, risk management, and success factors in pension management are discussed.Less
This chapter presents a synthesis of the topics discussed in the preceding chapters. Sensible pension management begins with a clear understanding of the purpose of the plan. The second step is establishing policies that govern investment and management activities. The primary purpose of policy is to provide useful guidelines for decision making and to communicate unambiguously to all parties what the plan is trying to do and how it is going about it. The issues of prudent behavior, investment management, managing plan investment managers, performance monitoring and evaluation, risk management, and success factors in pension management are discussed.
H. Kent Baker and Greg Filbeck (eds)
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199829699
- eISBN:
- 9780199979790
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199829699.001.0001
- Subject:
- Economics and Finance, Financial Economics
The world of portfolio management has expanded greatly over the past three decades, and along with it, so have the theoretical tools necessary to appropriately service the needs of both private ...
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The world of portfolio management has expanded greatly over the past three decades, and along with it, so have the theoretical tools necessary to appropriately service the needs of both private wealth and institutional clients. While the foundations of modern finance emerged during the 1950s and asset pricing models were developed in a portfolio context in the 1960s, portfolio management has now expanded into more complex models. Further, the traditional assumption of rational investor behavior with decisions made on the basis of statistical distributions has expanded to consider behavioral attributes of clients as well as goals-based strategies. Performance assessment has taken on greater importance since the 1990s. Portfolio management today emerges as a dynamic process that continues to evolve at a rapid pace. This 30-chapter book takes readers through the foundations of portfolio management with the contributions of financial pioneers up to the latest trends. Portfolio Theory and Management provides a comprehensive discussion of portfolio theory, empirical work, and practice. It not only attempts to blend the conceptual world of scholars with the pragmatic view of practitioners, but it also synthesizes important and relevant research studies in a succinct and clear manner including recent developments. Chapters are grouped into seven broad categories of interest: (1) portfolio theory and asset pricing, (2) the investment policy statement and fiduciary duties, (3) asset allocation and portfolio construction, (4) risk management, (5) portfolio execution, monitoring, and rebalancing, (6) evaluating and reporting portfolio performance, and (7) special topics.Less
The world of portfolio management has expanded greatly over the past three decades, and along with it, so have the theoretical tools necessary to appropriately service the needs of both private wealth and institutional clients. While the foundations of modern finance emerged during the 1950s and asset pricing models were developed in a portfolio context in the 1960s, portfolio management has now expanded into more complex models. Further, the traditional assumption of rational investor behavior with decisions made on the basis of statistical distributions has expanded to consider behavioral attributes of clients as well as goals-based strategies. Performance assessment has taken on greater importance since the 1990s. Portfolio management today emerges as a dynamic process that continues to evolve at a rapid pace. This 30-chapter book takes readers through the foundations of portfolio management with the contributions of financial pioneers up to the latest trends. Portfolio Theory and Management provides a comprehensive discussion of portfolio theory, empirical work, and practice. It not only attempts to blend the conceptual world of scholars with the pragmatic view of practitioners, but it also synthesizes important and relevant research studies in a succinct and clear manner including recent developments. Chapters are grouped into seven broad categories of interest: (1) portfolio theory and asset pricing, (2) the investment policy statement and fiduciary duties, (3) asset allocation and portfolio construction, (4) risk management, (5) portfolio execution, monitoring, and rebalancing, (6) evaluating and reporting portfolio performance, and (7) special topics.
Mark T. Buntaine
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780190467456
- eISBN:
- 9780190467470
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190467456.003.0006
- Subject:
- Political Science, International Relations and Politics, Environmental Politics
Evaluation is the most direct tool that principals at all types of organizations use to manage the discretion they grant to their agents. Evaluations produce information about the outcomes of ...
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Evaluation is the most direct tool that principals at all types of organizations use to manage the discretion they grant to their agents. Evaluations produce information about the outcomes of decisions and reduce uncertainty about cause-and-effect relationships. This chapter examines whether the results in project evaluations at the multilateral development banks have promoted selectivity in the allocation of environment-improving projects. Under pressure from donor countries to approve environment-improving activities, the multilateral development banks use information about success in evaluations to convince recipient countries to take on more environmental projects with clear local benefits. The same type of information is disregarded for projects that primarily have global benefits, since donor countries have pressured the multilateral development banks to rapidly scale up lending for these types of projects. These results suggest that much of the effort around project evaluation should be directed to meet the information needs of borrowing countries.Less
Evaluation is the most direct tool that principals at all types of organizations use to manage the discretion they grant to their agents. Evaluations produce information about the outcomes of decisions and reduce uncertainty about cause-and-effect relationships. This chapter examines whether the results in project evaluations at the multilateral development banks have promoted selectivity in the allocation of environment-improving projects. Under pressure from donor countries to approve environment-improving activities, the multilateral development banks use information about success in evaluations to convince recipient countries to take on more environmental projects with clear local benefits. The same type of information is disregarded for projects that primarily have global benefits, since donor countries have pressured the multilateral development banks to rapidly scale up lending for these types of projects. These results suggest that much of the effort around project evaluation should be directed to meet the information needs of borrowing countries.
Lars Oxelheim and Clas Wihlborg
- Published in print:
- 2008
- Published Online:
- May 2009
- ISBN:
- 9780195335743
- eISBN:
- 9780199868964
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195335743.003.0009
- Subject:
- Economics and Finance, Financial Economics
Value-based management (VBM) frameworks generally do not distinguish between changes in cash flows that reflect changes in a firm's competitive position, and cash flow changes that derive mainly from ...
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Value-based management (VBM) frameworks generally do not distinguish between changes in cash flows that reflect changes in a firm's competitive position, and cash flow changes that derive mainly from fluctuations in the macroeconomic environment. To the extent that changes in interest rates, exchange rates, and inflation rates affect corporate cash flows and value, such effects can weaken the link between managerial pay and performance. For this reason, filtering out macro effects on performance measures may strengthen managers' incentives to add value by allocating capital effectively and increasing operating efficiencies. This chapter uses exposure coefficients obtained by means of regression analysis to quantify the effect of unexpected and actual changes in macro price variables on corporate cash flows. The exposure coefficients are used in a VBM context to remove the effects of macro variables on a firm's cash flows (or value) during a specific time period, and so arrive at a measure of a company's “intrinsic” cash flows and value. The case of Electrolux is used to illustrate the decomposition procedure and the potential size of the macro influences. The effect of flexibility (real options) on the magnitude of macroeconomic effects and performance assessment is also discussed.Less
Value-based management (VBM) frameworks generally do not distinguish between changes in cash flows that reflect changes in a firm's competitive position, and cash flow changes that derive mainly from fluctuations in the macroeconomic environment. To the extent that changes in interest rates, exchange rates, and inflation rates affect corporate cash flows and value, such effects can weaken the link between managerial pay and performance. For this reason, filtering out macro effects on performance measures may strengthen managers' incentives to add value by allocating capital effectively and increasing operating efficiencies. This chapter uses exposure coefficients obtained by means of regression analysis to quantify the effect of unexpected and actual changes in macro price variables on corporate cash flows. The exposure coefficients are used in a VBM context to remove the effects of macro variables on a firm's cash flows (or value) during a specific time period, and so arrive at a measure of a company's “intrinsic” cash flows and value. The case of Electrolux is used to illustrate the decomposition procedure and the potential size of the macro influences. The effect of flexibility (real options) on the magnitude of macroeconomic effects and performance assessment is also discussed.
Robert Rohrschneider
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198295174
- eISBN:
- 9780191685088
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198295174.003.0010
- Subject:
- Political Science, Comparative Politics
This chapter summarizes the main findings and outlines the implications of the study for German politics and society. It also discusses the study's theoretical lessons and highlights its practical ...
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This chapter summarizes the main findings and outlines the implications of the study for German politics and society. It also discusses the study's theoretical lessons and highlights its practical implications for East-Central Europe. In order to highlight the degree to which ideological differences persist, the chapter presents a summary of the broad empirical patterns found in tabulated form. The research suggests the need for further studies in the link between ideological values and citizens' performance evaluations, and other sources of restraint and self-reliance. The study's most important finding is that the process of institutional learning fundamentally shapes citizens' ideological values in partly predictable ways. This process has already developed a democratic culture in western Germany. Finally, the chapter concludes that eastern Germany and other post-socialist countries must undergo this long process toward democratic citizenship.Less
This chapter summarizes the main findings and outlines the implications of the study for German politics and society. It also discusses the study's theoretical lessons and highlights its practical implications for East-Central Europe. In order to highlight the degree to which ideological differences persist, the chapter presents a summary of the broad empirical patterns found in tabulated form. The research suggests the need for further studies in the link between ideological values and citizens' performance evaluations, and other sources of restraint and self-reliance. The study's most important finding is that the process of institutional learning fundamentally shapes citizens' ideological values in partly predictable ways. This process has already developed a democratic culture in western Germany. Finally, the chapter concludes that eastern Germany and other post-socialist countries must undergo this long process toward democratic citizenship.
William Ascher
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226029160
- eISBN:
- 9780226029184
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226029184.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter describes the performance evaluation that can address (or exacerbate) the obstacles to farsightedness. The obvious challenge to addressing the issue of knowing whether performance is ...
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This chapter describes the performance evaluation that can address (or exacerbate) the obstacles to farsightedness. The obvious challenge to addressing the issue of knowing whether performance is farsighted is that the consequences are not yet definitely known. In practice, performance evaluation tends to reward shortsighted actions, or, equally important, is believed to reward shortsighted actions by those who are being evaluated. For the performance of a government regime as a whole, the more useful considerations would focus on the soundness of human resource policies as well as the magnitudes of participation and investments. The pitfalls of performance evaluation are described. These pitfalls can be lessened by making the evaluation process fair and useful to all parties. The interactions between evaluators and those being evaluated can be of crucial importance, both for judging the farsightedness of performance to date and for signaling long-term values and goals.Less
This chapter describes the performance evaluation that can address (or exacerbate) the obstacles to farsightedness. The obvious challenge to addressing the issue of knowing whether performance is farsighted is that the consequences are not yet definitely known. In practice, performance evaluation tends to reward shortsighted actions, or, equally important, is believed to reward shortsighted actions by those who are being evaluated. For the performance of a government regime as a whole, the more useful considerations would focus on the soundness of human resource policies as well as the magnitudes of participation and investments. The pitfalls of performance evaluation are described. These pitfalls can be lessened by making the evaluation process fair and useful to all parties. The interactions between evaluators and those being evaluated can be of crucial importance, both for judging the farsightedness of performance to date and for signaling long-term values and goals.
Bruce W. A. Whittlesea
- Published in print:
- 2002
- Published Online:
- March 2012
- ISBN:
- 9780192632326
- eISBN:
- 9780191670466
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780192632326.003.0011
- Subject:
- Psychology, Cognitive Psychology
Psychologists have a problem in understanding the underlying organization and mechanism of memory. After more than a century of empirical work, many of the phenomena of memory are now clear: the ...
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Psychologists have a problem in understanding the underlying organization and mechanism of memory. After more than a century of empirical work, many of the phenomena of memory are now clear: the differences between recollection and recognition, between remembering and knowing, between unconscious influence of prior experience and performance that is accompanied by awareness of source. However, a synthesis of memory as a whole has proved elusive.Less
Psychologists have a problem in understanding the underlying organization and mechanism of memory. After more than a century of empirical work, many of the phenomena of memory are now clear: the differences between recollection and recognition, between remembering and knowing, between unconscious influence of prior experience and performance that is accompanied by awareness of source. However, a synthesis of memory as a whole has proved elusive.
Ronald B. Mitchell
- Published in print:
- 2008
- Published Online:
- August 2013
- ISBN:
- 9780262240574
- eISBN:
- 9780262286589
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262240574.003.0003
- Subject:
- Political Science, Environmental Politics
This chapter, which deals with the performance evaluation, assessment, and causal significance of environmental and nonenvironmental institutions, shares the focus of the previous one: Institutions ...
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This chapter, which deals with the performance evaluation, assessment, and causal significance of environmental and nonenvironmental institutions, shares the focus of the previous one: Institutions as the main independent variable of interest. It also discusses important dimensions, methodology, scales, and metrics in evaluating the performance of institutions, along with definitions and terminology. The author argues that behavior change should be considered as the litmus test for the performance of institutions rather than the next-best alternative to environment quality. The chapter also addresses issues such as how to evaluate institutional performance as well as important characteristics to consider for assessment. The goal is to classify how much an institution committed to whatever improvement was made toward a specified objective that influenced global environmental change.Less
This chapter, which deals with the performance evaluation, assessment, and causal significance of environmental and nonenvironmental institutions, shares the focus of the previous one: Institutions as the main independent variable of interest. It also discusses important dimensions, methodology, scales, and metrics in evaluating the performance of institutions, along with definitions and terminology. The author argues that behavior change should be considered as the litmus test for the performance of institutions rather than the next-best alternative to environment quality. The chapter also addresses issues such as how to evaluate institutional performance as well as important characteristics to consider for assessment. The goal is to classify how much an institution committed to whatever improvement was made toward a specified objective that influenced global environmental change.
Célia Martinie, Philippe Palanque, and Camille Fayollas
- Published in print:
- 2018
- Published Online:
- March 2018
- ISBN:
- 9780198799603
- eISBN:
- 9780191839832
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198799603.003.0010
- Subject:
- Mathematics, Logic / Computer Science / Mathematical Philosophy
Arguments to support validity of most contributions in the field of human–computer interaction are based on detailed results of empirical studies involving cohorts of tested users confronted with a ...
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Arguments to support validity of most contributions in the field of human–computer interaction are based on detailed results of empirical studies involving cohorts of tested users confronted with a set of tasks performed on a prototype version of an interactive system. This chapter presents how the Interactive Cooperative Objects (ICO) formal models of the entire interactive system can support predictive and summative performance evaluation activities by exploiting the models. Predictive performance evaluation is supported by ICO formal models of interactive systems enriched with perceptive, cognitive, and motoric information about the users. Summative usability evaluation is addressed at the level of the software system, which is able to exhaustively log all the user actions performed on the interactive system The articulation of these two evaluation approaches is demonstrated on a case study from the avionics domain with a step-by-step tutorial on how to apply the approach.Less
Arguments to support validity of most contributions in the field of human–computer interaction are based on detailed results of empirical studies involving cohorts of tested users confronted with a set of tasks performed on a prototype version of an interactive system. This chapter presents how the Interactive Cooperative Objects (ICO) formal models of the entire interactive system can support predictive and summative performance evaluation activities by exploiting the models. Predictive performance evaluation is supported by ICO formal models of interactive systems enriched with perceptive, cognitive, and motoric information about the users. Summative usability evaluation is addressed at the level of the software system, which is able to exhaustively log all the user actions performed on the interactive system The articulation of these two evaluation approaches is demonstrated on a case study from the avionics domain with a step-by-step tutorial on how to apply the approach.
H. Kent Baker and Greg Filbeck
- Published in print:
- 2013
- Published Online:
- May 2013
- ISBN:
- 9780199829699
- eISBN:
- 9780199979790
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199829699.003.0001
- Subject:
- Economics and Finance, Financial Economics
This chapter provides an overview of portfolio theory and management. It discusses the three major steps in the portfolio management process—planning, execution, and feedback—and the key tasks ...
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This chapter provides an overview of portfolio theory and management. It discusses the three major steps in the portfolio management process—planning, execution, and feedback—and the key tasks involved in each step. Next the chapter examines modern portfolio theory including such topics as asset pricing models, traditional finance models, behavioral finance, alternative investments, performance evaluation and presentation, and the recent financial crisis. Next the chapter describes the purpose of the book, its distinguishing features, and intended audience. The chapter then discusses the structure of the remaining 29 chapters and provides an abstract of each chapter. The final section offers a summary and conclusions. While the theory and practice of portfolio management have been moving ahead at a dizzying pace, this book enables readers to gain a better understanding of the existing state of knowledge and the challenges remaining in this area.Less
This chapter provides an overview of portfolio theory and management. It discusses the three major steps in the portfolio management process—planning, execution, and feedback—and the key tasks involved in each step. Next the chapter examines modern portfolio theory including such topics as asset pricing models, traditional finance models, behavioral finance, alternative investments, performance evaluation and presentation, and the recent financial crisis. Next the chapter describes the purpose of the book, its distinguishing features, and intended audience. The chapter then discusses the structure of the remaining 29 chapters and provides an abstract of each chapter. The final section offers a summary and conclusions. While the theory and practice of portfolio management have been moving ahead at a dizzying pace, this book enables readers to gain a better understanding of the existing state of knowledge and the challenges remaining in this area.
Tarik Bazgour, Laurent Bodson, and Danielle Sougné
- Published in print:
- 2015
- Published Online:
- November 2015
- ISBN:
- 9780190207434
- eISBN:
- 9780190207465
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190207434.003.0028
- Subject:
- Economics and Finance, Financial Economics
Global and international mutual funds provide U.S. investors with an effective way to gain from international diversification. However, due to the complexity of international markets, performance ...
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Global and international mutual funds provide U.S. investors with an effective way to gain from international diversification. However, due to the complexity of international markets, performance evaluation of these funds is much more complex than that of U.S. domestic funds. This chapter reviews the appropriate measures for evaluating global portfolios’ performance and some of key properties and issues associated with each measure. It also examines the evidence these measures have produced on the stock selection and market-timing skills of global and international actively managed mutual funds. The chapter covers global and international equity funds, bond funds, and asset allocation funds. Additionally, it reviews the empirical evidence on whether global funds provide diversification benefits to U.S. investors as well as the evidence on the relationship between the performance of global mutual funds and their characteristics.Less
Global and international mutual funds provide U.S. investors with an effective way to gain from international diversification. However, due to the complexity of international markets, performance evaluation of these funds is much more complex than that of U.S. domestic funds. This chapter reviews the appropriate measures for evaluating global portfolios’ performance and some of key properties and issues associated with each measure. It also examines the evidence these measures have produced on the stock selection and market-timing skills of global and international actively managed mutual funds. The chapter covers global and international equity funds, bond funds, and asset allocation funds. Additionally, it reviews the empirical evidence on whether global funds provide diversification benefits to U.S. investors as well as the evidence on the relationship between the performance of global mutual funds and their characteristics.
Grady Perdue
- Published in print:
- 2015
- Published Online:
- November 2015
- ISBN:
- 9780190207434
- eISBN:
- 9780190207465
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190207434.003.0013
- Subject:
- Economics and Finance, Financial Economics
This chapter examines recent academic research concerning performance evaluation of equity mutual funds. Investors seeking to reach their financial goals should include investments that enhance the ...
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This chapter examines recent academic research concerning performance evaluation of equity mutual funds. Investors seeking to reach their financial goals should include investments that enhance the risk and return characteristics of their portfolios, and equities are often considered a viable asset allocation. However, studies show that many equity funds fail to produce a positive alpha. The chapter also discusses alternate means of assessing performance besides alpha, such as the Sharpe ratio and performance attribution, and problems associated with measuring alpha and other evaluation tools. Finally, it discusses the ability of managers to successfully engage in security selection for equity fund portfolios because this has a direct impact on their ability to generate positive risk-adjusted returns and manage risk.Less
This chapter examines recent academic research concerning performance evaluation of equity mutual funds. Investors seeking to reach their financial goals should include investments that enhance the risk and return characteristics of their portfolios, and equities are often considered a viable asset allocation. However, studies show that many equity funds fail to produce a positive alpha. The chapter also discusses alternate means of assessing performance besides alpha, such as the Sharpe ratio and performance attribution, and problems associated with measuring alpha and other evaluation tools. Finally, it discusses the ability of managers to successfully engage in security selection for equity fund portfolios because this has a direct impact on their ability to generate positive risk-adjusted returns and manage risk.
Sandeep Singh
- Published in print:
- 2015
- Published Online:
- November 2015
- ISBN:
- 9780190207434
- eISBN:
- 9780190207465
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190207434.003.0012
- Subject:
- Economics and Finance, Financial Economics
This chapter reviews open- and closed-end bond mutual funds. It discusses the unique challenges faced by managers of bond mutual funds. The chapter presents a comprehensive literature review on ...
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This chapter reviews open- and closed-end bond mutual funds. It discusses the unique challenges faced by managers of bond mutual funds. The chapter presents a comprehensive literature review on performance evaluation of bond mutual funds and also discusses various segments of the bond mutual fund market. Finally, it includes guidelines that can be useful to investors and investment managers for analyzing fixed income funds catering to a particular segment of the bond market. Most of the evidence suggests that given the largely homogeneous nature of the bond market, consistently generating risk-adjusted returns over benchmark returns (alpha) is difficult for actively managed bond mutual funds. Empirical evidence supports investment in passively managed bond mutual funds given the nature of the bond market and the challenges in consistently generating alpha. However, given liquidity and transaction inefficiencies, difficulties remain in indexing bond portfolios to broad-based fixed income indexes.Less
This chapter reviews open- and closed-end bond mutual funds. It discusses the unique challenges faced by managers of bond mutual funds. The chapter presents a comprehensive literature review on performance evaluation of bond mutual funds and also discusses various segments of the bond mutual fund market. Finally, it includes guidelines that can be useful to investors and investment managers for analyzing fixed income funds catering to a particular segment of the bond market. Most of the evidence suggests that given the largely homogeneous nature of the bond market, consistently generating risk-adjusted returns over benchmark returns (alpha) is difficult for actively managed bond mutual funds. Empirical evidence supports investment in passively managed bond mutual funds given the nature of the bond market and the challenges in consistently generating alpha. However, given liquidity and transaction inefficiencies, difficulties remain in indexing bond portfolios to broad-based fixed income indexes.
Judith Harackiewicz
- Published in print:
- 2011
- Published Online:
- March 2015
- ISBN:
- 9780199778188
- eISBN:
- 9780190256043
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199778188.003.0036
- Subject:
- Psychology, Social Psychology
Judith Harackiewicz reflects on her most underappreciated work: a paper entitled “Rewarding pinball wizardry” that explored the effects of rewards on intrinsic motivation. Harackiewicz performed a ...
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Judith Harackiewicz reflects on her most underappreciated work: a paper entitled “Rewarding pinball wizardry” that explored the effects of rewards on intrinsic motivation. Harackiewicz performed a pinball experiment with her graduate students to test the idea that rewards for competence might have negative effects due to the stress of performance evaluation, but that they might also have positive effects because they provide positive feedback upon receipt.Less
Judith Harackiewicz reflects on her most underappreciated work: a paper entitled “Rewarding pinball wizardry” that explored the effects of rewards on intrinsic motivation. Harackiewicz performed a pinball experiment with her graduate students to test the idea that rewards for competence might have negative effects due to the stress of performance evaluation, but that they might also have positive effects because they provide positive feedback upon receipt.
