Key performance indicators for innovation implementation : perception vs. actual usage

This paper aimed to explore the proportion associated with the perceived importance and the actual use of performance indicators from manufacturing and non manufacturing industries. The sample was 86 small and medium sized-organizations in Thailand. The perceived importance and the actual use of financial and non financial indicators were found to be significantly related among manufacturing and non manufacturing industries. KPI 3, 9, and 12 (i.e. sales and sales growth; quality of products and /or services; and process time) were perceived the most importance among manufacturing managers (85.3%, 79.4% and 76.5% respectively). While KPI 6, 9, and 12 (i.e. customer satisfaction, quality of products and /or services; and process time) were perceived the most importance among non manufacturing managers (84.8%, 93.5%, and 84.8% respectively). Interestingly, the most used KPIs for manufacturing were sales and sales growth (64.7%); profit margins (61.8%); and customer satisfaction (84.8) while non manufacturing used quality products/services (60.9%); sales and sales growth (54.3%) and employee development (54.3%) respectively. Limitation and implication were also discussed.

The corporate financial effects of corporate social responsibility, as executed by, and impacted upon, Prime Bank Limited, Bangladesh

Corporate Social Responsibility (CSR) is being implemented in the corporate world at an ever increasing rate, benefitting societies around the world. Several theories have been proposed that contend that the corporations who are implementing CSR programs also benefit financially, making the relationship a symbiotic one. This paper analyzes the financial health of Prime Bank Limited, Bangladesh, (PBL) over a period of a decade in order to determine if PBL has indeed benefited financially from implementing its CSR program. The analysis focuses on examining PBL’s internal and external financial indicators over an extended period of time to determine what the net effect, if any, that the CSR program has had on them. This analysis concludes that the evidence does not support the claim of a causal relationship between CSR spending and positive effects upon PBL, as measured by PBL’s financial indicators.

The relationship between hospital financial performance and information technology integration strategy selection

In light of the new healthcare regulations, hospitals are increasingly reevaluating their IT integration strategies to meet expanded healthcare information exchange requirements. Nevertheless, hospital executives do not have all the information they need to differentiate between the available strategies and recognize what may better fit their organizational needs. ^ In the interest of providing the desired information, this study explored the relationships between hospital financial performance, integration strategy selection, and strategy change. The integration strategies examined – applied as binary logistic regression dependent variables and in the order from most to least integrated – were Single-Vendor (SV), Best-of-Suite (BoS), and Best-of-Breed (BoB). In addition, the financial measurements adopted as independent variables for the models were two administrative labor efficiency and six industry standard financial ratios designed to provide a broad proxy of hospital financial performance. Furthermore, descriptive statistical analyses were carried out to evaluate recent trends in hospital integration strategy change. Overall six research questions were proposed for this study. ^ The first research question sought to answer if financial performance was related to the selection of integration strategies. The next questions, however, explored whether hospitals were more likely to change strategies or remain the same when there was no external stimulus to change, and if they did change, they would prefer strategies closer to the existing ones. These were followed by a question that inquired if financial performance was also related to strategy change. Nevertheless, rounding up the questions, the last two probed if the new Health Information Technology for Economic and Clinical Health (HITECH) Act had any impact on the frequency and direction of strategy change. ^ The results confirmed that financial performance is related to both IT integration strategy selection and strategy change, while concurred with prior studies that suggested hospital and environmental characteristics are associated factors as well. Specifically this study noted that the most integrated SV strategy is related to increased administrative labor efficiency and the hybrid BoS strategy is associated with improved financial health (based on operating margin and equity financing ratios). On the other hand, no financial indicators were found to be related to the least integrated BoB strategy, except for short-term liquidity (current ratio) when involving strategy change. ^ Ultimately, this study concluded that when making IT integration strategy decisions hospitals closely follow the resource dependence view of minimizing uncertainty. As each integration strategy may favor certain organizational characteristics, hospitals traditionally preferred not to make strategy changes and when they did, they selected strategies that were more closely related to the existing ones. However, as new regulations further heighten revenue uncertainty while require increased information integration, moving forward, as evidence already suggests a growing trend of organizations shifting towards more integrated strategies, hospitals may be more limited in their strategy selection choices.^

Financial sustainability of cooperatives: a case of portuguese olive oil cooperatives

En Portugal, como en otros países, las cooperativas agrícolas tienen un papel económico importante en el sistema alimentario. Similar a otras organizaciones económicas, las cooperativas agrícolas han sido testigos de cambios estructurales en las últimas décadas en términos de modelos de gobernación y gestión. Las cooperativas agrícolas portuguesas se han visto constreñidas por su contexto a adoptar un modelo tradicional de propiedad y control. El objetivo principal de este estudio era analizar cuestiones relacionadas con la estructura de gestión y desempeño financiero de las cooperativas, basada en los datos recogidos de cooperativas de aceite de oliva situadas en la región interior norte de Portugal. La combinación de un análisis cualitativo de la estructura y toma de decisiones, una evaluación financiera y la aplicación de un enfoque en varios criterios (PROMETHEE II), los resultados están en línea con expectativas (por ejemplo, bajos niveles de participación de los miembros, gestión no profesional, ratios de rentabilidad bajos, bajo apalancamiento y una capacidad para cumplir compromisos financieros), excepto la relación entre la gestión profesional y el desempeño financiero. La existencia de gestión profesional no conduce a mejores resultados financieros. Este resultado refuerza la creencia de que las cooperativas que están estructuradas de diferente manera tienen intereses diferentes y contradictorios a las partes interesadas.

An exploratory study of innovation effectiveness measurement between Australian and Thai SMEs

The advantages of using a balanced approach to measurement of overall organisational performance are well-known. We examined the effects of a balanced approach in the more specific domain of measuring innovation effectiveness in 144 small to medium sized companies in Australia and Thailand. We found that there were no differences in the metrics used by Australian and Thai companies. In line with our hypotheses, we found that those SMEs that took a balanced approach were more likely to perceive benefits of implemented innovations than those that used only a financial approach to measurement. The perception of benefits then had a subsequent effect on overall attitudes towards innovation. The study shows the importance of measuring both financial and non-financial indicators of innovation effectiveness within SMEs and discusses ways in which these can be conducted with limited resources.

An exploration of knowledge management and intellectual capital in a nonprofit organisation context

In recent years, practitioners and researchers alike have turned their attention to knowledge management (KM) in order to increase organisational performance (OP). As a result, many different approaches and strategies have been investigated and suggested for how knowledge should be managed to make organisations more effective and efficient. However, most research has been undertaken in the for-profit sector, with only a few studies focusing on the benefits nonprofit organisations might gain by managing knowledge. This study broadly investigates the impact of knowledge management on the organisational performance of nonprofit organisations. Organisational performance can be evaluated through either financial or non-financial measurements. In order to evaluate knowledge management and organisational performance, non-financial measurements are argued to be more suitable given that knowledge is an intangible asset which often cannot be expressed through financial indicators. Non-financial measurement concepts of performance such as the balanced scorecard or the concept of Intellectual Capital (IC) are well accepted and used within the for-profit and nonprofit sectors to evaluate organisational performance. This study utilised the concept of IC as the method to evaluate KM and OP in the context of nonprofit organisations due to the close link between KM and IC: Indeed, KM is concerned with managing the KM processes of creating, storing, sharing and applying knowledge and the organisational KM infrastructure such as organisational culture or organisational structure to support these processes. On the other hand, IC measures the knowledge stocks in different ontological levels: at the individual level (human capital), at the group level (relational capital) and at the organisational level (structural capital). In other words, IC measures the value of the knowledge which has been managed through KM. As KM encompasses the different KM processes and the KM infrastructure facilitating these processes, previous research has investigated the relationship between KM infrastructure and KM processes. Organisational culture, organisational structure and the level of IT support have been identified as the main factors of the KM infrastructure influencing the KM processes of creating, storing, sharing and applying knowledge. Other research has focused on the link between KM and OP or organisational effectiveness. Based on existing literature, a theoretical model was developed to enable the investigation of the relation between KM (encompassing KM infrastructure and KM processes) and IC. The model assumes an association between KM infrastructure and KM processes, as well as an association between KM processes and the various levels of IC (human capital, structural capital and relational capital). As a result, five research questions (RQ) with respect to the various factors of the KM infrastructure as well as with respect to the relationship between KM infrastructure and IC were raised and included into the research model: RQ 1 Do nonprofit organisations which have a Hierarchy culture have a stronger IT support than nonprofit organisations which have an Adhocracy culture? RQ 2 Do nonprofit organisations which have a centralised organisational structure have a stronger IT support than nonprofit organisations which have decentralised organisational structure? RQ 3 Do nonprofit organisations which have a stronger IT support have a higher value of Human Capital than nonprofit organisations which have a less strong IT support? RQ 4 Do nonprofit organisations which have a stronger IT support have a higher value of Structural Capital than nonprofit organisations which have a less strong IT support? RQ 5 Do nonprofit organisations which have a stronger IT support have a higher value of Relational Capital than nonprofit organisations which have a less strong IT support? In order to investigate the research questions, measurements for IC were developed which were linked to the main KM processes. The final KM/IC model contained four items for evaluating human capital, five items for evaluating structural capital and four items for evaluating relational capital. The research questions were investigated through empirical research using a case study approach with the focus on two nonprofit organisations providing trade promotions services through local offices worldwide. Data for the investigation of the assumptions were collected via qualitative as well as quantitative research methods. The qualitative study included interviews with representatives of the two participating organisations as well as in-depth document research. The purpose of the qualitative study was to investigate the factors of the KM infrastructure (organisational culture, organisational structure, IT support) of the organisations and how these factors were related to each other. On the other hand, the quantitative study was carried out through an online-survey amongst staff of the various local offices. The purpose of the quantitative study was to investigate which impact the level of IT support, as the main instrument of the KM infrastructure, had on IC. Overall several key themes were found as a result of the study: • Knowledge Management and Intellectual Capital were complementary with each other, which should be expressed through measurements of IC based on KM processes. • The various factors of the KM infrastructure (organisational culture, organisational structure and level of IT support) are interdependent. • IT was a primary instrument through which the different KM processes (creating, storing, sharing and applying knowledge) were performed. • A high level of IT support was evident when participants reported higher level of IC (human capital, structural capital and relational capital). The study supported previous research in the field of KM and replicated the findings from other case studies in this area. The study also contributed to theory by placing the KM research within the nonprofit context and analysing the linkage between KM and IC. From the managerial perspective, the findings gave clear indications that would allow interested parties, such as nonprofit managers or consultants to understand more about the implications of KM on OP and to use this knowledge for implementing efficient and effective KM strategies within their organisations.

Routine Measurement of Health-Related Quality of Life in Assessing Cost-Effectiveness in Secondary Health Care

Aims: The aims of this study were 1) to identify and describe health economic studies that have used quality-adjusted life years (QALYs) based on actual measurements of patients' health-related quality of life (HRQoL); 2) to test the feasibility of routine collection of health-related quality of life (HRQoL) data as an indicator of effectiveness of secondary health care; and 3) to establish and compare the cost-utility of three large-volume surgical procedures in a real-world setting in the Helsinki University Central Hospital, a large referral hospital providing secondary and tertiary health-care services for a population of approximately 1.4 million. Patients and methods: So as to identify studies that have used QALYs as an outcome measure, a systematic search of the literature was performed using the Medline, Embase, CINAHL, SCI and Cochrane Library electronic databases. Initial screening of the identified articles involved two reviewers independently reading the abstracts; the full-text articles were also evaluated independently by two reviewers, with a third reviewer used in cases where the two reviewers could not agree a consensus on which articles should be included. The feasibility of routinely evaluating the cost-effectiveness of secondary health care was tested by setting up a system for collecting HRQoL data on approximately 4 900 patients' HRQoL before and after operative treatments performed in the hospital. The HRQoL data used as an indicator of treatment effectiveness was combined with diagnostic and financial indicators routinely collected in the hospital. To compare the cost-effectiveness of three surgical interventions, 712 patients admitted for routine operative treatment completed the 15D HRQoL questionnaire before and also 3-12 months after the operation. QALYs were calculated using the obtained utility data and expected remaining life years of the patients. Direct hospital costs were obtained from the clinical patient administration database of the hospital and a cost-utility analysis was performed from the perspective of the provider of secondary health care services. Main results: The systematic review (Study I) showed that although QALYs gained are considered an important measure of the effectiveness of health care, the number of studies in which QALYs are based on actual measurements of patients' HRQoL is still fairly limited. Of the reviewed full-text articles, only 70 reported QALYs based on actual before after measurements using a valid HRQoL instrument. Collection of simple cost-effectiveness data in secondary health care is feasible and could easily be expanded and performed on a routine basis (Study II). It allows meaningful comparisons between various treatments and provides a means for allocating limited health care resources. The cost per QALY gained was 2 770 for cervical operations and 1 740 for lumbar operations. In cases where surgery was delayed the cost per QALY was doubled (Study III). The cost per QALY ranges between subgroups in cataract surgery (Study IV). The cost per QALY gained was 5 130 for patients having both eyes operated on and 8 210 for patients with only one eye operated on during the 6-month follow-up. In patients whose first eye had been operated on previous to the study period, the mean HRQoL deteriorated after surgery, thus precluding the establishment of the cost per QALY. In arthroplasty patients (Study V) the mean cost per QALY gained in a one-year period was 6 710 for primary hip replacement, 52 270 for revision hip replacement, and 14 000 for primary knee replacement. Conclusions: Although the importance of cost-utility analyses has during recent years been stressed, there are only a limited number of studies in which the evaluation is based on patients own assessment of the treatment effectiveness. Most of the cost-effectiveness and cost-utility analyses are based on modeling that employs expert opinion regarding the outcome of treatment, not on patient-derived assessments. Routine collection of effectiveness information from patients entering treatment in secondary health care turned out to be easy enough and did not, for instance, require additional personnel on the wards in which the study was executed. The mean patient response rate was more than 70 %, suggesting that patients were happy to participate and appreciated the fact that the hospital showed an interest in their well-being even after the actual treatment episode had ended. Spinal surgery leads to a statistically significant and clinically important improvement in HRQoL. The cost per QALY gained was reasonable, at less than half of that observed for instance for hip replacement surgery. However, prolonged waiting for an operation approximately doubled the cost per QALY gained from the surgical intervention. The mean utility gain following routine cataract surgery in a real world setting was relatively small and confined mostly to patients who had had both eyes operated on. The cost of cataract surgery per QALY gained was higher than previously reported and was associated with considerable degree of uncertainty. Hip and knee replacement both improve HRQoL. The cost per QALY gained from knee replacement is two-fold compared to hip replacement. Cost-utility results from the three studied specialties showed that there is great variation in the cost-utility of surgical interventions performed in a real-world setting even when only common, widely accepted interventions are considered. However, the cost per QALY of all the studied interventions, except for revision hip arthroplasty, was well below 50 000, this figure being sometimes cited in the literature as a threshold level for the cost-effectiveness of an intervention. Based on the present study it may be concluded that routine evaluation of the cost-utility of secondary health care is feasible and produces information essential for a rational and balanced allocation of scarce health care resources.

¿Bancos con Problemas? Un Sistema de Alerta Temprana para la Prevención de Crisis Bancarias

[ES] Las autoridades reguladoras y supervisoras de los sistemas financieros han probado diversos métodos para intentar encontrar un procedimiento eficaz en la elaboración de un sistema de alerta temprana de las crisis bancarias. Los Modelos de Regresión Logística han sido usados aunque han mostrado algunas debilidades, por lo que se necesitan nuevos y mejores métodos. La crisis bancaria ocurrida en la República Dominicana entre los años 2002 y 2004 se ha usado para comparar la eficacia de la Regresión Logística frente al uso del método Support Vector Machines (SVM) para la detección de crisis bancarias.

Economic analysis of utilizing Kainji gas kiln for fish smoking in the Kainji Lake Basin of Nigeria

Marketing of smoked fish in the Kainji Lake Basin (Nigeria) has been found to be complex, traditional and inefficient. It is also said to be limited in scope due to poor handling and processing techniques, lack of storage facilities and inadequate marketing informations. The invention of Kainji gas kiln has been found suitable to overcoming poor handling and processing techniques. This paper discusses the feasibility of operating Kainji gas kiln commercially supported with adequate storage facilities and competent management hands. The financial indicators of net present value (NPV), 47,481.11, Internal rate of return (IRR) 24% and payback period of 2.3 years that are calculated confirmed that the commercial use of Kainji gas kiln is indeed profitably feasible

Descripción de empresas en crisis financiera: el caso de Argentina en las décadas del 1990 y 2000

[ES]Las investigaciones sobre la predicción de quiebras empresariales que se han venido dando en los últimos cincuenta años han indicado que la crisis financiera de las empresas ha sido y es un tema de preocupación en el mundo, también en Argentina. El horizonte de análisis de este trabajo comprende dos períodos de estabilidad económica en la década de 1990 y la del 2000, con la intención de comparar los indicadores financieros que explican la crisis empresarial en cada uno de ellos. De esta manera, se procura continuar con el aporte de evidencia empírica en esta línea de investigación, mediante el análisis de los indicadores, que según la literatura, influyen en el pronóstico de riesgo de crisis financiera. Estos estudios descriptivos previos a los inferenciales pueden ser replicados en otras economías emergentes, como herramienta de diagnostico de la vulnerabilidad financiera de las empresas.

Adoção do IFRS no Brasil: Uma análise dos efeitos na comparabilidade e na relevância das demonstrações contábeis

O presente estudo objetiva analisar o impacto da adoção da norma internacional de contabilidade (IFRS) no Brasil na comparabilidade entre as normas contábeis (IFRS International Financial Reporting Standards e BRGAAP Brazilian Generally Accepted Accounting Principles) e a relevância das informações geradas pela contabilidade na tomada de decisões pelos investidores. Como um objetivo secundário, busca identificar quais mudanças (CPCs Comitê de Pronunciamentos Contábeis) foram mais significativas (e frequentes) para as contas contábeis e os indicadores financeiros com o propósito de avaliar os efeitos na comparabilidade das demonstrações financeiras das companhias brasileiras listadas na Bolsa de Valores de São Paulo (IBOVESPA). Utilizou-se a ferramenta estatística de teste de médias, onde as hipóteses formuladas a serem testadas foram elaboradas a partir do levantamento do referencial teórico. A pesquisa constatou que os números contábeis das empresas listadas no IBOVESPA diferem significativamente e de forma positiva, quando aplicadas as normas internacionais de contabilidade em vez de aplicar a norma contábil brasileira (BRGAAP), assim como verificado em outros países. Também foi constatado que o padrão de contabilidade IFRS apresenta maior relevância contábil que a norma brasileira, uma vez que os dados contábeis se mostraram mais próximos aos valores de mercado. A pesquisa verificou nos relatórios contábeis das empresas inconsistências quanto à adoção das novas normas e, também, consideráveis variações nas formas de divulgação das informações. Além de ter identificado as normas (CPC 13, CPC 15 e CPC 27) que provocaram efeitos mais significativos em termos de valores e de frequência. Conclui-se com este estudo que as demonstrações financeiras sofrem impactos significativos ao se analisar os dois padrões contábeis em tela e que as demonstrações financeiras sob o padrão internacional apresentam maior relevância contábil que a norma de contabilidade brasileira. Ao fim do estudo, sugere-se que sejam aplicados outros testes estatísticos de análise multivariada dos dados financeiros com o intuito de se analisar simultaneamente o impacto de outras variáveis na comparabilidade e na relevância contábil.

Utilização de indicadores Contábeis em Modelos de Previsão de Insolvência: Um estudo Comparativo entre indicadores Tradicionais e indicadores do Modelo Dinâmico

Um dos temas mais estudados na área de finanças, em especial na análise de créditos, são os modelos que buscam prever a capacidade das empresas em se manterem solventes. Via de regra, tais estudos buscam, dentre vários indicadores, aqueles que se mostram mais apropriados para realizar tal predição. Nesse trabalho propõe-se um outro olhar sobre os modelos de previsão. Partindo de modelos já consagrados na literatura, escolheram-se os indicadores contábeis mais utilizados, que foram comparados, através da Análise Discriminante e da Regressão Logística, com os indicadores oriundos do Modelo Dinâmico. O objetivo do estudo foi verificar se os indicadores do Modelo Dinâmico oferecem melhores resultados que os indicadores tradicionais. O trabalho se baseia numa amostra com 48 empresas, composta de 24 insolventes e as outras 24 ditas como saudáveis, tratadas como pares das insolventes, escolhidas dentro do mesmo setor econômico de cada uma das insolventes. Além disso, foi incluída no estudo a classificação de empresas de Fleuriet como variável qualitativa. Os resultados obtidos não apresentam evidências sobre a superioridade de um ou outro conjunto de indicadores, mas, os melhores resultados alcançados derivam da inclusão da classificação de empresas de Fleuriet, seja através da Análise Discriminante, seja através da Regressão Logística, conseguindo no melhor dos resultados, um percentual de acerto total de 83,3%. A análise minuciosa dos erros de classificação ensejou uma proposta de reordenação dos tipos de situação de liquidez originalmente propostos por Fleuriet.

Novos modelos de gestão hoteleira no contexto da sociedade em rede : o caso de Lisboa

Tese de doutoramento, Turismo (Planeamento dos Espaços Turísticos), Universidade de Lisboa, Instituto de Geografia e Ordenamento do Território, 2015

Gestão estratégica: balanced scorecard para uma entidade hospitalar

Dissertação para obtenção do Grau de Mestre em Contabilidade e Finanças Orientador: Doutora Cláudia Maria Ferreira Pereira Lopes

O Plano geral de contabilidade angolano e o sistema de normalização contabilística de Portugal: uma análise comparada

Dissertação de Mestrado apresentada ao Instituto de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Contabilidade e Finanças, sob orientação da Professora Doutora Ana Maria Alves Bandeira