This paper examines the information content of net income and cash flows for hotel and tourism industry and department store industry in Taiwan. The National Association of Real Estate Investment Trust (NATEIT) has suggested that Net Income is a misleading measure of operating performance for income-producing real estate operating companies. They assert that historical cost based depreciation is inappropriate for income-producing real estate because it is not correlated with changes in the value of those real estates. Thus, the NAREIT has promoted Funds From Operations (FFO) as a supplemental measure of operating performance. FFO is calculated as net income adding depreciation expense and excluding realized gain or loss from the sale of properties. Like the REITs, the hotel and department stores industry hold and operate income-producing real estate. We test the NAREIT proposal that FFO is a more informative measure for real estate operating companies by doing an empirical analysis for hotel industry and department store industry. The results suggest that although FFO is associated with stock market performance, it is not relatively superior to Net Income or incrementally relevant beyond Net Income. Furthermore, results on testing of individual components in deriving FFO from Net Income show that both depreciation expenses and gain or loss from sale of properties is not associated with stock price performance. This indicates that FFO excludes non-value relevant accounting data. Therefore, the test results show little evidence in supporting NAREIT¡¦s claim that FFO is a more informative measure for real estate operating companies. Although we do not have strong evidence to indicate that FFO is a better performance measure than Net Income, it is still a value relevant information in determining the value of income-producing real estate managing companies. The recent passed Taiwan Real Estate Securitization Act provides investors a new channel to invest in income-producing real estate. While it is not likely that FFO will replace Net Income as the main performance measure of the securities under Taiwan Real Estate Securitization Act, FFO could provide investors helpful information in determining the value of these income-producing real estate securities.

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ABSTRACT PERFORMANCE MEASUREMENT IN MULTI OBJECTIVE COMBINATORIAL OPTIMIZATION Bozkurt, Bilge M.Sc., Department of Industrial Engineering Supervisor: Prof. Dr. Murat K&ouml / ksalan September 2007, 96 pages In this study we address the problem of measuring the quality of different sets of nondominated solutions obtained by different approaches in multi objective combinatorial optimization (MOCO). We propose a new measure that quantitatively compares the sets of nondominated solutions, without needing an efficient frontier. We develop the measure for bi-criteria and more than two criteria cases separately. Rather than considering only the supported solutions in the evaluation, the measure captures both supported and unsupported solutions through utilizing weighted Tchebycheff function characteristics. We also adapt this method for determining the neighborhood relations on the weight space for both bi-criteria and more than two criteria cases. We check the consistency of the neighborhood assumption on the objective space with the neighborhood relations on the weight space by this measure and obtain highly good results. Keywords: Multi objective combinatorial optimization, performance measurement

Toady, the rapid changes in business environment of shortened product life cycles and advanced technology, drew the attention upon research and development¡¦s (R&D) contribution to competitive advantage. As a result, valuing the performance of R&D has become exceedingly important. This study established a general framework of R&D performance measurements by reviewing and organizing literatures and researches on R&D performance, along with giving an insight on what are the most valued measurements with applying the Analytic Hierarchy Process (AHP) method. The questionnaire which developed from AHP was filled by senior managers of R&D. Valuing from industry and R&D function perspective, we had the results of four similar core R&D performance measurements of Customer Satisfaction, Technology commercialized, Market Share, and Technical achievement. However, the individual ranking from these perspectives, are quite different. In the sense of high-technology and traditional industry, having the same top five measurements of Customer Satisfaction, Market Share, Technical achievement, Technology commercialized, and Profitability, the ranking for each industry is differ. As for new product development (NPD) and process improving function, having the same four out of five core R&D performance measurements of Customer Satisfaction, Market Share, Access to New Market, and Technology commercialized, the ranking for each function is differ. The results for priorities and weights of each R&D performance measurements, are not only giving an insight on the most preferred measurements, but also when coming for measuring performance, the weights upon the measurements should be considered for more accuracy in performance evaluation. Also the indifference of core measurements for differ industries or R&D functions, which indicates when establishing performance measurement in practice, there can be same measurements; however there should be different ways upon valuing, since the priority for them are different.

For a long time ,the whole performance of the Taiwan¡¦s terminals that present both the passengers and the aircraft movements decline tendency.This research was from 2003 to 2007 the Taiwan¡¦s top 10 terminals as the object of study. The aim of study was providing the government and managers understood the implying of performance. This study based on Avkiran & Rowands (2008) Three-Stage SBM-DEA for the main methodology that excluded both external factor and statistic interference. And applied auxiliary by Malmquist index, carried on the performance measurement of the Taiwan¡¦s top 10 terminals with more detached and more impartial. According to the analysis it provided the government and managers to improve and work out a better future.

There is a movement in government toward more accountability and higher performance in the delivery of services. Well-managed and documented results are vital to transparency and enhanced decision-making ability for managers. Performance management and measurement is becoming a bigger part of the dialogue in the public sector, even though it has been present for decades in the private sector. One tool that is being adopted by public sector organizations is scorecards or balanced scorecards for performance measurement or management frameworks. Increasingly these tools are being used to satisfy the public’s and legislature’s desire for more accountability among the public sector in service delivery with public funds. These tools can fill the gap between simple budgetary or financial reporting to including more diverse non-financial indicators of performance. They can also provide a framework for better performance management and decision-making ability in addition to reporting on performance measures. This report provides an overview of scorecards and introduces concepts for the public sector that may bridge the gap between simple reporting and incorporating a scorecard for management purposes. It also suggests some non-standard techniques to utilizing cutting edge approaches to enhance the usability of scorecards as a more dynamic reporting and management tool. / text

"Realizing corporate vision through balanced scorecards" Date: May 28, 2015 Level: Bachelor thesis in Business Administration, 15 ECTS Institution: School of Business, Society and Engineering, Mälardalen University Authors: Roman Alam Olof Hällman July 2, 1987 May 11, 1989 Title: Realizing corporate vision through balanced scorecards Supervisor: Magnus Hoppe Keywords: Balanced scorecards, corporate vision, key performance indicators, performance measurement, strategy. Research question: Why are balanced scorecards implemented and how are they adapted and developed? Purpose: The purpose of this thesis is to describe what reasons companies claim for implementing balanced scorecards and how these companies adapt and develop the scorecards. Method: To conduct a qualitative research, a literature review, a case study and interviews were carried out to draw the conclusions of the thesis. Conclusion: The study identified industry-, business- and organization-specific adaptations of the balanced scorecard as a performance measurement tool to link strategy and corporate vision to future decisions and actions.

This thesis focuses on three topics relevant to humanitarian applications: (i) stable and complete assignment of staff members to field offices, (ii) bottleneck management for transportation networks, and (iii) performance measurement of the food assistance supply chain. The assignment and reassignment of personnel to jobs is a large-scale problem faced by many organizations including the military and multi-national organizations. Although successful algorithms have been developed that can ensure matchings that are stable (without incentive to deviate), not all practical concerns have been addressed by these algorithms. For example, the gap we study is that when staff members do not provide preference lists covering all jobs, a complete stable matching is not guaranteed. In the first part of the thesis, we model negotiations, which occur in practice, as part of the problem of matching all agents. We introduce algorithms and structural results for when the organization negotiates with specific agents to modify their preference lists and the centralized objective is to minimize the number or cost of negotiations required to achieve complete stable matchings. An uncertain environment with disruptions is a reality faced by many humanitarian operations but not fully addressed in the literature. Transportation delays are often driven by reliability issues (e.g., customs delays, strikes, and the availability of transport), and the length of wait time can be influenced by congestion. In the second part of the thesis, we describe a queuing model with breakdowns to model delays in port and transportation corridors (the overland travel from discharge ports to delivery points). Using the model, we gain insights into where delays are most detrimental to system performance (i.e., the network's "bottleneck") in port and transportation corridors. We then include our delay modeling in a convex cost network flow model that determines optimal routing when several port and corridor options are available. Finally, we examine a resource allocation model for where to invest in improvements to minimize delay. Throughout, we compare solutions using the optimal approach to rules of thumb and identify important factors that might be missing in practical decision making currently. Third, we present a case study on the implementation of supply chain key performance indicators (KPIs) at a large humanitarian organization. We describe (i) the phases necessary for a full implementation of supply chain KPIs at a humanitarian or non-profit organization, (ii) how to address strategy, mindset, and organizational barriers, and (iii) how to adapt commercial supply chain KPI frameworks to the humanitarian sector, factoring in implementation constraints present in the humanitarian sector that may impact KPI development. Last, a conclusion chapter discusses areas where this research may or may not generalize for each of the three topics studied.

There are many views about the meaning and importance of performance measurement of employees and of organizations. This thesis is concerned with many of these views but is most concerned with performance contracts and quality management and the relationship between them. The whole concept of the measurement of performance is sometimes questioned and in some cases regarded as being both subjective and futile. Van de Ven and Ferry (1980) argued that: "Whether the difficulties associated with assessing the performance of complex organizations can be met by a single set of measurement instruments and process guidelines has still to be proven." Glover and Kelly (1987) contended that measuring the performance of individual jobs can also be difficult: "Performance is hard or impossible to measure with many jobs and occupations, think for example of the differences between the work of architects, surgical appliance fitters, design engineers, criminals, politicians, street traders and musicians. There is often a conflict between volume and quantity of output in the long-term and the short-term such as when profits come before investment and vice-versa." Similarly, Van De Yen and Morgan (1980) argued with regard to organizational performance that: "Performance is a complex construct that reflects the criteria and standards used by decision makers to assess the functioning of an organization. As this definition suggests, performance is a value judgement on the results desired from the organization at different levels of analysis--and--often change over time." However, the demand for measurement of performance, whether it comes from the first level of supervision or from a shareholders' meeting, does tend to mean that attempts be made to measure performance (Talley, 1991).