WorldWideScience

Sample records for fund performance evaluation

  1. Revisiting Mutual Fund Performance Evaluation

    OpenAIRE

    Angelidis, Timotheos; Giamouridis, Daniel; Tessaromatis, Nikolaos

    2012-01-01

    Mutual fund manager excess performance should be measured relative to their self-reported benchmark rather than the return of a passive portfolio with the same risk characteristics. Ignoring the self-reported benchmark introduces biases in the measurement of stock selection and timing components of excess performance. We revisit baseline empirical evidence in mutual fund performance evaluation utilizing stock selection and timing measures that address these biases. We introduce a new factor e...

  2. Performance Evaluation of Investment (Mutual Funds

    Directory of Open Access Journals (Sweden)

    Povilas Vyšniauskas

    2014-12-01

    Full Text Available The efficiency of an investment fund is one of the main components in evaluating the performance of the fund. This study seeks for introducing and comparing risk and performance evaluation ratios. The paper is aimed at testing the worked out ratios and at distinguishing between the best ones for the purpose of evaluating the performance of Lithuanian mutual funds. Scientific studies show that a standard deviation, alpha, beta, Sharpe and Treynor ratios are mostly employed for identifying the performance of mutual funds that are also compared with their benchmark index to establish if these funds are outperformed and if is it worth paying management fees to investment banks for managing mutual funds. Historical data were selected for the period from 2012-01-02 to 2013-10-15 analysing the prices of monthly funds. The paper points out the areas of a practical application of the proposed model for investment fund valuation, which may not only provide valuable outcomes for practitioners but also may inspire further research on this article.

  3. PERFORMANCE EVALUATION OF CHINESE NEW FUNDS

    Institute of Scientific and Technical Information of China (English)

    倪苏云; 翁轶丛; 吴冲锋

    2001-01-01

    he performance of Chinese investment funds was empirically analyzed using the following models, i.e. Jensen model, Treynor-Mazuy (T-M) model amd Merton-Henriksson model. The results show that T-M model is fitted to Chinese investment funds best among these three. But none of them can perfectly interpret the new funds' performance. So, the idea suggested by Jagannathan, Korajczyk (J-K) to extend the test was adopted in this paper, and the results show that J-K model augmented from the M-H can explain the source of excess return of fund Anxin.

  4. PERFORMANCE EVALUATION OF TURKISH TYPE A MUTUAL FUNDS AND PENSION STOCK FUNDS BY USING TOPSIS METHOD

    Directory of Open Access Journals (Sweden)

    Nesrin ALPTEKIN

    2009-07-01

    Full Text Available In this paper, it is evaluated performance of Turkish Type A mutual funds and pension stock funds by using TOPSIS method which is a multicriteria decision making approach. Both of these funds compose of stocks in their portfolios, so it can be enabled to compare each other. Generally, mutual or pension funds are evaluated according to their risk and return. At this point, it is used traditional performance measurement techniques of funds like Sharpe ratio, Sortino ratio, Treynor index and Jensen’s alpha. TOPSIS method takes into consideration all of these fund performance measurement techniques and provides more reasonable performance measurement.

  5. Performance Evaluation of Equity Mutual Funds in Indonesia

    Directory of Open Access Journals (Sweden)

    Irene Rini Demi Pangestuti

    2017-11-01

    Full Text Available Mutual funds considered as an investment alternative for investors. One type of mutual fund that attracts many investors was the equity mutual funds. Equity mutual fund is a type of mutual funds that most part of the investment consists of stocks in the capital market so the risk rate was higher than the other types of mutual funds. For its different characteristic, the measurement for equity funds performance did not be same with other types of mutual funds. As a stock portfolio, equity mutual funds can be measured by portfolio measurement methods such as Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index, Adjusted Jensen Index, and Sortino Ratio. This study was conducted by using all of those performance measurements as most research in Indonesia was conducted by using limited performance measurements (focusing on Sharpe Index, Treynor Ratio, and Jensen Index. This study aims to evaluated the performance of 42 equity mutual funds available in Indonesia by employing Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index (ASI, Adjusted Jensen Index (AJI, and Sortino Ratio because most previous researches in Indonesian setting disregards ASI and AJI. In general, it was concluded that the SAM Indonesian Equity was the best performing equity fund during the study period. It was further found that most equity mutual fund studied have been well diversified.

  6. EVALUATION OF THE FINANCIAL PERFORMANCE OF PENSION FUNDS IN CROATIA

    OpenAIRE

    Dražen Novaković

    2015-01-01

    The aim of this paper is to evaluate the financial performance of pension funds in Croatia. Although there are other factors which are important in the pension funds overall performance, this paper focuses on investment accomplishments. The purpose of measuring portfolio performance is to determine whether portfolio managers add value compared to passive investment strategies. The traditional approach to pension funds’ performance evaluation underlines standard measures of financial performan...

  7. Performance Evaluation of Some Index Funds-Indian Perspective

    Directory of Open Access Journals (Sweden)

    Pranav Mishra

    2016-04-01

    Full Text Available The popularity of the index funds as an investment option has increased manifolds ever since they were introduced. This is primarily because of the merits that the investor enjoys through passive style of funds management. This includes the low cost involved in managing such funds and the significant tax savings. Most of the researchers have compared the performance of the actively managed funds with that of index funds. However the index funds of US and for that reason other parts of the world are different from that of India. Unlike other countries in India the benchmark indices comprise of very less number of securities and thus are unable to represent the entire economy. So in Indian context comparison of performance of actively managed funds with index funds is not logical. Therefore this paper attempts to make an intra-class performance evaluation of some Indian index funds based on some statistics. The study includes the use of graphical interpretations coupled with statistical tools like R-square and tracking error values. Two models of tracking error have been employed to test empirically the performance of the selected index funds. The study is useful for those interested in mutual funds, which includes researchers, academicians, and financial advisors. The paper suits the requirement and the situations prevalent in Indian economy during the period under study.

  8. PERFORMANCE EVALUATION OF PENSION FUNDS WITH FUZZY EXPERT SYSTEM

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    SERDAR KORUKOĞLU

    2013-06-01

    Full Text Available Financial rating and ranking firms often use linguistic instead of numerical values. When input data are mostly qualitative and are based on subjective knowledge of experts, the Fuzzy Set Theory provides a solid mathematical model to represent and handle these data. The aim of this study is developing a fuzzy expert model to evaluate the performance of the pension funds by using their risk and return values. The method is used for evaluating the performance of the randomly selected of twenty seven Turkish pension funds. The obtained results proved that the fuzzy expert system is appropriate and consistent for performance evaluation.

  9. EVALUATION OF THE FINANCIAL PERFORMANCE OF PENSION FUNDS IN CROATIA

    Directory of Open Access Journals (Sweden)

    Dražen Novaković

    2015-07-01

    Full Text Available The aim of this paper is to evaluate the financial performance of pension funds in Croatia. Although there are other factors which are important in the pension funds overall performance, this paper focuses on investment accomplishments. The purpose of measuring portfolio performance is to determine whether portfolio managers add value compared to passive investment strategies. The traditional approach to pension funds’ performance evaluation underlines standard measures of financial performance (e.g. ratios such as Sharpe’s, Sortino’s, Treynor’s, etc. which quantify the ability of pension fund managers to deliver an active management risk premium, with respect to benchmarks. In this paper, the previously mentioned traditional measures of risk-adjusted performance are applied to Croatian pension funds. Due to recent changes in pension systems in other Eastern European countries once again emphasis is put on this issue in Croatia. The analysis furthermore includes evaluation of pension funds’ asset allocation. The period of analysis covers twelve years, from the establishment of pension funds in Croatia in 2002 until 2013. The main hypothesis of the paper states that Croatian pension funds underperform with respect to benchmark comparisons, set as return on the combined CROBEX/CROBIS portfolio. Results show that the main hypothesis does not hold. The financial performance of pension funds directly influences their competitiveness, derived from the possibility of measuring their success in active portfolio management. In addition, pension funds are expected to support the national economy. By investing their accumulating assets, they can protect jobs and enhance economic growth. However, they can achieve that only if they are competitive in means of financial performance.

  10. Evaluating the Impact of Performance Funding in Ohio and Tennessee

    Science.gov (United States)

    Hillman, Nicholas W.; Hicklin Fryar, Alisa; Crespín-Trujillo, Valerie

    2018-01-01

    Today, 35 states use performance-based funding models tying appropriations directly to educational outcomes. Financial incentives should induce colleges to improve performance, but there are several well-documented reasons why this is unlikely to occur. We examine how two of the most robust performance funding states--Tennessee and Ohio--responded…

  11. Performance Evaluation of Open-Ended ELSS Mutual Fund ...

    African Journals Online (AJOL)

    This study examined the performance of the open-ended equity linked saving mutual fund schemes (ELSS) in India during the financial distress in 2008-2009. In this study, the month end net asset values of selected equity linked saving mutual fund schemes were considered and the data was obtained from the website of ...

  12. Long-Short Fund Performance Evaluation in Brazil

    Directory of Open Access Journals (Sweden)

    Fábio Augusto Reis Gomes

    2010-12-01

    Full Text Available Long-Short Funds should be able to provide positive returns, above the opportunity cost and independent of market conditions, once they can have both long and short positions. For this reason, this study aims to evaluate the Long-Short funds in Brazil, assessing whether customers of these products are buying just market returns (Beta, or if there is excess return (alpha independent of the stock market. Analyzing a sample of 76 funds from January 2, 2001 to March 31, 2008, using daily and monthly data, we found evidence that a small number of funds are able to generate excess return. Besides, this excess does not exhibit persistence. Finally, there is little or no evidence for market timing.

  13. An Empirical Study on Mutual Funds in the U.S. Market: Performance Evaluation and Its Relation with Fund Size

    OpenAIRE

    Du, Lin

    2008-01-01

    Mutual funds industry has grown rapidly since 1970s. As one popular type of financial intermediary, mutual fund investment becomes an important player in the financial market globally. The evaluation of mutual fund performance has been achieving a great deal of academic interest since 1960s. There has been a great deal of research which examined whether mutual funds can outperform well-diversified portfolios such as a market index. However, the findings are usually suggestive rather than conc...

  14. Improved inference in the evaluation of mutual fund performance using panel bootstrap methods

    OpenAIRE

    Blake, David; Caulfield, Tristan; Ioannidis, Christos; Tonks, I P

    2014-01-01

    Two new methodologies are introduced to improve inference in the evaluation of mutual fund performance against benchmarks. First, the benchmark models are estimated using panel methods with both fund and time effects. Second, the non-normality of individual mutual fund returns is accounted for by using panel bootstrap methods. We also augment the standard benchmark factors with fund-specific characteristics, such as fund size. Using a dataset of UK equity mutual fund returns, we find that fun...

  15. Evaluation of Performance of Mutual Funds in India from 2004-2009

    OpenAIRE

    Badani, Ankit

    2009-01-01

    Mutual funds play an important role in the globalization of the financial markets. Various past studies have been carried out by academics and researchers to analyse the performance of mutual funds. One of the important facts revealed by most of these studies is that a mutual fund cannot perform better than the market. Performance measures like Sharpe ratio, Treynor ratio, Jensen measure etc are applied to evaluate the performance 30 open-ended equity diversified growth funds in India for the...

  16. Evaluation of Performance of Investment Funds Based on Decision Models (DEA

    Directory of Open Access Journals (Sweden)

    Alireza Samet

    2016-12-01

    Full Text Available Selection of a suitable investment funds is very important from investors' point of view and may have a significant impact on the profit or loss of the funds. Therefore, evaluation of performance of investment funds to choose the most suitable fund will be given special emphasis. One of the new techniques for evaluating the performance of the Funds based on efficiency is the Data Envelopment Analysis technique. Accordingly, the present study is aimed to analyze and evaluate the performance of investment Funds in capital market of Iran, using the technique of efficiency evaluation through data envelopment analysis technique (DEA. This research is a descriptive - applicable study and to analyze the efficiency and effectiveness, 53 investment funds in the capital market of Iran in 2013 were considered as the sample. To analyze the efficiency of these funds, data envelopment analysis (DEA is used. Research findings showed that in 2013, of a total of 53 examined funds, 11 funds were in the efficiency situation and the other 42 funds were in a state of inefficiency. Also the reference funds and virtual composited funds of all inefficient funds were evaluated.

  17. The Evaluation of Mutual Fund Performance in Lithuania Considering Risk and Timing Ability

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    Irma Gavrilova

    2011-07-01

    Full Text Available Over the last decade, Lithuania has witnessed a growing interest in investment promoted by the need to successfully manage available funds. Direct investments (e. g. buying and selling stocks require a specific knowledge of investment instruments. Therefore, an ordinary investor finds investment in mutual funds easier and cheaper. Usually the most important questions to the investor include measuring the results of a fund and the quality of the actions performed by the fund managers. The article evaluates the rates of mutual fund performance and identifies their shortages. The methods for evaluating investment return according to the level of risk and timing ability of the fund managers are presented using the Sharpe ratio and Treynor-Mazuy model on the basis of which mutual funds in Lithuania are analyzed.Article in Lithuanian

  18. Evaluation of Performance of Mutual Funds in India from 2000 to 2007

    OpenAIRE

    Saboo, Manish

    2008-01-01

    There have been many studies in the past on performance of Mutual Funds in comparison to the market. These studies might differ in time and the market under study but most of them concluded that on an average, Mutual Funds have failed to outperform the market and thus the Efficient Market Hypothesis holds good. This research was based on performance of 22 mutual funds for a period of almost 8 years on monthly basis. Funds were evaluated using measures like Sharpe ratio, Treynor ratio, Jensen'...

  19. Danish mutual fund performance

    DEFF Research Database (Denmark)

    Christensen, Michael

    2013-01-01

    This article provides the first independent performance analysis of Danish mutual funds. We analyse selectivity and market timing abilities for 71 mutual funds that have been in operation from 2001 to 2010. The results show great fund performance diversity. Half the funds have performed neutrally......, whereas 42% of the funds have shown significantly negative performance and only 7% of the funds have over-performed their benchmark. Furthermore, 14% of the funds analysed possess market timing abilities, but for 8 out of 10 funds, their market timing ability has been unsuccessful....

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

    OpenAIRE

    Suyash Bhatt

    2013-01-01

    This research paper examines performance of top twelve Indian mutual funds by Asset Under Management (AUM).  We use seven portfolio performance measurement parameters like Alpha, Beta, Standard Deviation, R Squared, Sharpe Ratio, Treynor Ratio and Jensen’s Alpha. The study reveals which amongst these mutual fund is the best performer based on all these parameters and the benchmark taken for this is NIFTY Index. The mutual funds selected are HDFC Top 200 Fund, Franklin India Bluechip Fund, ICI...

  1. CURRENT APPROACHES IN PERFORMANCE EVALUATION OF INVESTMENT FUND AND A PROPOSAL FOR TURKEY FOR THE PERIOD AFTER THE TEFAŞ PLATFORM

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    Fatih Temizel

    2016-01-01

    Investment Fund Industry, data sets and periods of the studies in Turkey and the world are analyzed. From those analysis we try to discover the advantages/disadvantages of different approaches. Thus, arecent performance evaluation of investment funds traded on Turkey will be recommended.

  2. EVALUATION OF THE PERFORMANCE OF TURKISH EQUITY UMBRELLA FUNDS USING THE MORNINGSTAR RATING SYSTEM

    OpenAIRE

    Gul, Yavuz; Altinirmak, Serpil

    2018-01-01

    Purpose - Different types of funds exist depending on the assetsthe portfolio is composed of. The main types of funds include; bond umbrellafunds, equity umbrella funds, precious metal umbrella fund, fund basketumbrella funds, money market umbrella funds, participation umbrella fund,balanced umbrella funds, free umbrella funds, guaranteed umbrella fund,umbrella fund for protection purposes.The subject of our study is equityumbrella funds. These kinds of funds receive at least 80% of the share...

  3. Mutual Fund Performances of Polish Domestic Equity Fund Managers

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    ömer faruk tan

    2015-10-01

    Full Text Available Purpose of the article: The main purpose of the paper is empirically evaluating selectivity skills and market timing ability of Polish fund managers during the period from January 2009 to November 2014. After the global financial crisis of 2008, in this period of quantitative easing (QE, thanks to an increase in the money supply, a capital flow from developed countries to developing countries was observed. In this study, we try to analyse that although the financial market in Poland made an incredible progress, whether fund managers show better or worse performance than the market. Methodology/Methods: In order to evaluate fund manager performances, Jensen alpha (1968 is computed, which depicts selectivity skills of fund managers. For determining market timing ability of fund managers, Treynor & Mazuy (1966 regression analysis and Henriksson & Merton (1981 regression analysis are applied. Fund performances are evaluated using Warsaw Stock Exchange Index as the benchmark index. Scientific aim: In this study, we have tried to evaluate selectivity skills and market timing ability of Polish fund managers. A total of 14 equity fund managers’ performances are analysed. The study can be guiding especially for investors who are interested in Polish equity fund performances in a period where emerging stock markets outperformed with quantitative easing. Findings: Jensen (1968 alphas indicate that over this period fund managers did not have selective ability, as none of the 14 funds had statistically significant positive alphas. Furthermore, Treynor & Mazuy (1966 and Henriksson & Merton (1981 regression analysis indicate that over the same period fund managers did not also have market timing ability, as again none of the 14 funds had statistically significant positive coefficients. Conclusions: In this work, we can detect that in the era of quantitative easing, although the financial market in Poland made an incredible progress, the fund returns were

  4. Style Analysis: Asset Allocation & Performance Evaluation of Indonesian Equity Funds, April 2004 – March 2009

    Directory of Open Access Journals (Sweden)

    Boniarga Mangiring

    2014-08-01

    Full Text Available This paper explores investment styles and risk exposures of mutual funds in Indonesia using Sharpe's return-based style analysis, a quadratic optimization of an asset class factor model,  proposed  by  William  F.  Sharpe  in  1992.  The  research  observes  nine  sectoral  asset class indexes and ifteen survivor Indonesian equity funds within April 2004 - March 2009. The  results  suggest  that  the  infrastructure  sector  has  the  biggest  exposure  on  average. This  study  also  measures  the  relative  performance  of  the  funds  with  respect  to  their  style benchmarks.  The  results  indicate  that  the  nine  funds  have  been  able  to  beat  their  style benchmarks on average. From all funds, Fortis Ekuitas is the best fund based on its average monthly selection return. ";} // -->activate javascript

  5. 45 CFR 2522.530 - May I use the Corporation's program grant funds for performance measurement and evaluation?

    Science.gov (United States)

    2010-10-01

    ... PARTICIPANTS, PROGRAMS, AND APPLICANTS Evaluation Requirements § 2522.530 May I use the Corporation's program... 45 Public Welfare 4 2010-10-01 2010-10-01 false May I use the Corporation's program grant funds for performance measurement and evaluation? 2522.530 Section 2522.530 Public Welfare Regulations...

  6. Understanding artistic performance in its context: A case study of the practice of evaluation in a publicly funded opera company

    NARCIS (Netherlands)

    Chiaravalloti, F.

    2015-01-01

    This paper shows how the different groups of managers (administrative, artistic, and technical) of a publicly funded opera company evaluate the artistic performance of their organization. Performance information of varied nature is exchanged between the internal and external stakeholders of the

  7. Performance-Based Funding Brief

    Science.gov (United States)

    Washington Higher Education Coordinating Board, 2011

    2011-01-01

    A number of states have made progress in implementing performance-based funding (PFB) and accountability. This policy brief summarizes main features of performance-based funding systems in three states: Tennessee, Ohio, and Indiana. The brief also identifies key issues that states considering performance-based funding must address, as well as…

  8. Evaluation of the Teacher Incentive Fund: Implementation and Impacts of Pay-for-Performance after Two Years

    Science.gov (United States)

    Chiang, Hanley; Wellington, Alison; Hallgren, Kristin; Speroni, Cecilia; Herrmann, Mariesa; Glazerman, Steven; Constantine, Jill

    2016-01-01

    Recent efforts to attract and retain effective educators and to improve teaching practices have focused on reforming evaluation and compensation systems for teachers and principals. In 2006, Congress established the Teacher Incentive Fund (TIF), which provides grants to support performance-based compensation systems for teachers and principals in…

  9. Understanding the performance and impact of public knowledge translation funding interventions: protocol for an evaluation of Canadian Institutes of Health Research knowledge translation funding programs.

    Science.gov (United States)

    McLean, Robert K D; Graham, Ian D; Bosompra, Kwadwo; Choudhry, Yumna; Coen, Stephanie E; Macleod, Martha; Manuel, Christopher; McCarthy, Ryan; Mota, Adrian; Peckham, David; Tetroe, Jacqueline M; Tucker, Joanne

    2012-06-22

    The Canadian Institutes of Health Research (CIHR) has defined knowledge translation (KT) as a dynamic and iterative process that includes the synthesis, dissemination, exchange, and ethically-sound application of knowledge to improve the health of Canadians, provide more effective health services and products, and strengthen the healthcare system. CIHR, the national health research funding agency in Canada, has undertaken to advance this concept through direct research funding opportunities in KT. Because CIHR is recognized within Canada and internationally for leading and funding the advancement of KT science and practice, it is essential and timely to evaluate this intervention, and specifically, these funding opportunities. The study will employ a novel method of participatory, utilization-focused evaluation inspired by the principles of integrated KT. It will use a mixed methods approach, drawing on both quantitative and qualitative data, and will elicit participation from CIHR funded researchers, knowledge users, KT experts, as well as other health research funding agencies. Lines of inquiry will include an international environmental scan, document/data reviews, in-depth interviews, targeted surveys, case studies, and an expert review panel. The study will investigate how efficiently and effectively the CIHR model of KT funding programs operates, what immediate outcomes these funding mechanisms have produced, and what impact these programs have had on the broader state of health research, health research uptake, and health improvement. The protocol and results of this evaluation will be of interest to those engaged in the theory, practice, and evaluation of KT. The dissemination of the study protocol and results to both practitioners and theorists will help to fill a gap in knowledge in three areas: the role of a public research funding agency in facilitating KT, the outcomes and impacts KT funding interventions, and how KT can best be evaluated.

  10. A Comparison of Measures of Abnormal Performance on a Sample of Monthly Mutual Fund Returns, formerly titled; The Evaluation of Mutual Fund Performance: An Analysis of Monthly Returns

    OpenAIRE

    Grinblatt, Mark

    1989-01-01

    This paper empirically examines the Jensen Measure, the Positive Period Weighting Measure, developed in Grinblatt and Titman (1987a), measures developed from the Treynor-Mazuy (1966) quadratic regression on a sample 179 mutual funds, using a variety of benchmark portfolios. We find that the measures generally yield similar inferences when using the same benchmark and that inferences can vary, even from the same measure, when using different benchmarks. Several benchmarks, developed here, appe...

  11. Mutual Fund Performance: Evidence From South Africa

    Directory of Open Access Journals (Sweden)

    Ömer Faruk Tan

    2015-11-01

    Full Text Available This paper aims to evaluate the performance of South African equity funds between January 2009 and November 2014. This study period overlaps with the study period of quantitative easing during which developing economies in financial markets have been influenced severely. Thanks to the increase in the money supply directed towards the capital markets, a relief was experienced in related markets following the crisis period. During this 5-year 10-month period, in which the relevant quantitative easing continued, Johannesburg Stock Exchange (JSE yielded approximately %16 compounded on average, per year. In this study, South African equity funds are examined in order to compare these funds' performance within this period.Within this scope- 10 South African equity funds are selected. In order to measure these funds' performances, the Sharpe ratio (1966, Treynor ratio (1965, Jensen's alpha (1968 methods are used. Jensen's alpha is also used in identifying selectivity skills of fund managers. Furthermore, the Treynor & Mazuy (1966 and Henriksson & Merton (1981 regression analysis methods are applied to ascertain the market timing ability of fund managers. Furthermore, Treynor & Mazuy (1966 regression analysis method is applied for market timing ability of fund managers.

  12. A PERFORMANCE COMPARISON OF HEDGE FUNDS, HEDGED MUTUAL FUNDS AND HEDGE FUND ETFS

    OpenAIRE

    Shenyan Gu; Tina Zhang

    2015-01-01

    Hedged mutual funds and hedge fund ETFs are new entrants to the market thatallow individual investors to invest in funds using hedge fund strategies.   In this paper, we study the performance of these two funds relative to the traditional hedge funds to see if the three asset classes are comparable investments. We use four performance measurement models, including CAPM, Fama French three factor model, Carhart four factor model and Fung and Hsieh eight factor model, to test the fund...

  13. Performance of Mutual Funds In INDIA: 2000 - 2006.

    OpenAIRE

    Kabra, Krishna

    2006-01-01

    Numerous scholarly researches have been carried out to evaluate the performance of mutual funds. These researches may differ in time period but most studies conclude that mutual funds on average have failed to outperform the market and therefore the efficient market hypothesis holds good. This research is carried out to evaluate the performance of 20 surviving diversified equity growth mutual funds for the period of 6 years from July 2000 to June 2006. The data of the fund is collected on Mon...

  14. An Empirical Study of Mutual Fund Performance and Its Relation with Fund Size

    OpenAIRE

    Lu, Daofen

    2007-01-01

    The increasing popularity of mutual fund investment is a remarkable phenomenon of recent decades. Mutual funds have been among the largest investors and played an important role in the financial market worldwide. The evaluation of mutual fund performance has been achieving a great deal of academic interest since the 1960s. This study employed a time-series data to examine the performance of sixty actively-managed equity growth funds of the United States during the period of July, 2002 to June...

  15. The Persistence of Mutual Fund Performance.

    OpenAIRE

    Grinblatt, Mark; Titman, Sheridan

    1992-01-01

    This paper analyzes how mutual fund performance relates to past performance. These tests are based on a multiple portfolio benchmark that was formed on the basis of securities characteristics. The authors find evidence that differences in performance between funds persist over time and that this persistence is consistent with the ability of fund managers to earn abnormal returns. Copyright 1992 by American Finance Association.

  16. Current Developments in Community College Performance Funding

    Science.gov (United States)

    D'Amico, Mark M.; Friedel, Janice N.; Katsinas, Stephen G.; Thornton, Zoë M.

    2014-01-01

    Since the initiation of performance funding in Tennessee in the late 1970s, approximately 30 states have, at some point, attempted a funding model that includes performance on a set of indicators. The purpose of the present study was to capture the current status of performance funding in public statewide community college systems and to assess…

  17. The peer performance ratios of hedge funds

    NARCIS (Netherlands)

    Ardia, David; Boudt, Kris

    2018-01-01

    We define the outperformance (resp. underperformance) of an investment fund as the percentage of funds in the peer universe for which the true performance of the focal fund is higher (resp. lower). We show that the p–values of the pairwise tests of equal performance can be used to obtain estimates

  18. Performance control of Chinese investment funds

    NARCIS (Netherlands)

    Cao, X.

    2002-01-01

    The performance control of investment funds has long been a discussed focal point by both academics and practitioners because of the ready availability of fund data and the importance of fund performance in attracting investors. Unfortunately, this area was still an almost blank space in the Chinese

  19. Are Sunshine Private Funds More Beneficial than Publicly Offered Funds to the Fund Managers in Their Investment Performance?

    Institute of Scientific and Technical Information of China (English)

    YAN Wu; XIONG Hang

    2016-01-01

    From the perspective of the comparison between the investment performances of the fund managers before and after investment transfer from publicly offered funds to sunshine private funds,we can better explore the influences of the two institutional environments on the investment performances of the fund managers.This paper conducts a comparative analysis of the fund managers,investment performances before and after their investment transfer with the help of a number of fund performance evaluation models.The results show that the overall investment ability of the fund managers have been improved significantly when they transfer from publicly offered funds to sunshine private funds.If decomposing the overall investment ability into time-choosing and stock-picking abilities,the improvement of the fund managers' overall investment ability is mainly reflected in the significant improvement of their time-choosing ability after the transfer,while their stock-picking ability would then decrease a little.At the same time,by studying the personal characteristics of the fund managers,it is found that those who had investment research experience can obtain better investment performances.

  20. HEDGE FUND MANAGERIAL INCENTIVES AND PERFORMANCE

    Directory of Open Access Journals (Sweden)

    Nor Hadaliza ABD RAHMAN

    2011-07-01

    Full Text Available The growth of the hedge fund industry over the decades has brought an interesting form of performance contract between the portfolio managers and their investors. The contractual relation has given an impact to the performance of the hedge fund industry, which benefited both fund managers and investors. Furthermore, it has created more investors and fund managers to participate in this high risk and high return investment. Currently, many issues on fee structures and performancebased incentives have been discussed. Do these issues affect the performance of the hedge fund in the market? This paper will investigate the issues in Australian market. It will empirically analyze the hedge fund performance in relation to the market performance and whether managerial incentives and discretions associated with better fund performance.

  1. Performance Persistence of Dutch Pension Funds

    NARCIS (Netherlands)

    Huang, Xiaohong; Mahieu, R.

    2012-01-01

    This paper studies the investment performance of pension funds with a focus on their ability in implementing their intended investment strategy. We use a sample of Dutch industry-wide pension funds, which are obliged by law to report their investment performance according to the so-called z-score.

  2. Performance Persistence of Dutch Pension Funds

    NARCIS (Netherlands)

    Huang, Xiaohong; Mahieu, Ronald

    2010-01-01

    This paper studies the investment performance of pension funds with a focus on their ability in implementing the investment strategy. We use a sample of Dutch industry-wide pension funds, which are obliged by law to report their investment performance according to the so-called z-score. The z-score

  3. Cash Holdings and Mutual Fund Performance

    OpenAIRE

    Mikhail Simutin

    2014-01-01

    Cash holdings of equity mutual funds impose a drag on fund performance but also allow managers to make quick investments in attractive stocks and satisfy outflows without costly fire sales. This article shows that actively managed equity funds with high abnormal cash—that is, with cash holdings in excess of the level predicted by fund attributes—outperform their low abnormal cash peers by over 2% per year. Managers carrying high abnormal cash compensate for the low return on cash by making su...

  4. Explaining the performance of Chinese equity funds

    NARCIS (Netherlands)

    Huang, Xiaohong; Shi, Qiqiang

    2013-01-01

    This paper examines the determinants of Chinese equity fund performance measured by market benchmark adjusted returns and risk adjusted return (Jensen’s Alpha). The sample covers 193 equity funds from January 2006 to December 2011, including both bear (2008 and 2011) and bull (2006, 2007, 2009, and

  5. Mutual Fund Performances of Polish Domestic Equity Fund Managers

    OpenAIRE

    Tan, Ömer Faruk; Ünal, Gözde

    2015-01-01

    Purpose of the article: The main purpose of the paper is empirically evaluating selectivity skills and market timing ability of Polish fund managers during the period from January 2009 to November 2014. After the global financial crisis of 2008, in this period of quantitative easing (QE), thanks to an increase in the money supply, a capital flow from developed countries to developing countries was observed. In this study, we try to analyse that although the financial market in Pol...

  6. Performance of Mutual Funds in India: (2002-2006)

    OpenAIRE

    Saboo, Manish

    2006-01-01

    There has been many studies in the past on performance of Mutual Funds in comparison to the market. These studies might differ in time and the market under study but most of them concluded that on an average, Mutual Funds have failed to outperform the market and thus the Efficient Market Hypothesis holds good. This research was based on performance of 25 mutual funds for a period of almost 5 years on monthly basis. Funds were evaluated using measures like Sharpe ratio, Treynor ratio, Jense...

  7. Further Evidence on Hedge Funds Performance

    DEFF Research Database (Denmark)

    Christiansen, Claus Bang; Madsen, Peter Brink; Christensen, Michael

    2003-01-01

    In this analysis we identify dynamic hedge fund strategies quantitatively pursuing a Principal Component Analysis following Fung and Hsieh (1997). We extract five dominant hedge fund strategies each representing similar investment styles and analyse the performance of each strategy by employing...... a multi-factor model comprising both market indices and passive option strategies among the lines of Agerwal and Naik (2000). We find that the majority of five homogenous strategies show superior performance. However, correcting for survivorship bias this superior performance disappears....

  8. THE PERFORMANCE OF MUTUAL FUNDS IN SLOVAKIA

    Directory of Open Access Journals (Sweden)

    F. Tudorache

    2016-11-01

    Full Text Available A good indicator for the financial markets performance in different countries is the evolution of mutual funds in terms of their inflows and outflows. The goal of the present paper is to analyse the performance of the mutual funds in Slovakia. The research objectives are twofold: to study the flows of funds into and out of mutual funds from Slovakia during the period 2007-2014 and to analyse how investors in Slovakian mutual funds behave in terms of their investment choice. The analysis focuses on identifying patterns in investors' decision making process and on examining the similarity of their behavioural patterns with the ones identi¬fied at international level.

  9. Evaluating Selection and Timing Ability of a Mutual Fund

    Directory of Open Access Journals (Sweden)

    Duguleană L.

    2009-12-01

    Full Text Available The paper presents the methodology and a case study to evaluate the performance of a mutual fund by taking a look at the timing and selection abilities of a portfolio manager. Separating the timing and selection abilities of the fund manager is taken into consideration by two major models. The data about the mutual fund chosen for study is the German blue chip fund “DWS Deutsche Aktien Typ O”, which includes most of the DAX 30 companies. The data consists of 117 monthly observations of the fund returns from January 1999 to September 2008. We used EViews to analyse the data.

  10. Performance indicators for SMEs accessing EU funds

    OpenAIRE

    Popa Adina-Simona

    2013-01-01

    Being the best supporters of national economies Small and Medium Sized Enterprises are actively searching alternative sources of finance for sustaining their goals and their performances. European Union is sustaining the SMEs access to finance by direct funding: grants from the European Commission and indirect funding: financial intermediaries in the SMEs origin country. Considering the importance of SMEs for national and European economy we will analyze the relationship between the EU fundin...

  11. Performance of mutual funds in european countries

    OpenAIRE

    Γκογκάκη, Ελεωνόρα

    2012-01-01

    In this thesis, the performance of 220 open-end domestic equity mutual funds of european countries (from 'weak' and 'strong' economies) is analyzed for an eight- year period from 1st January 2004 until 31st December 2011, which is then split in two four-year sub periods in order to examine their performance prior to the global financial crisis and after its burst in 2008. In order to compare the mutual funds' performance to that of each country's market, it used as benchmarks the countries' m...

  12. Mutual fund performance: dividends do matter

    OpenAIRE

    De Mingo López, Diego Víctor; Matallín Sáez, Juan Carlos

    2015-01-01

    This article studies the bias in mutual fund performance when a nondividend-reinvesting benchmark is used. Our empirical findings show how performance worsens when using a benchmark that includes reinvestment dividends. We also find that inferences about managers’ ability related to economic states are biased by the effect of omitting dividends when selecting a benchmark.

  13. Do firm characteristics influence mutual fund performance? An empirical study for European mutual funds

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; Wingens, L.

    2013-01-01

    This study investigates the influence of fund management firm characteristics on mutual fund performance. Using a sample of European domiciled open-end equity funds for the period 1998-2008, this study finds that the funds of private companies have performed better than the funds of public

  14. Another Look at the Performance of Actively Managed Equity Mutual Funds

    OpenAIRE

    Blitz, David; Huij, Joop

    2012-01-01

    textabstractIn this study we evaluate the performance of actively managed equity mutual funds against a set of passively managed index funds. We find that the return spread between the best performing actively managed funds and a factor-mimicking portfolio of passive funds is positive and as large as 3 to 5 percent per annum. Our findings are inconsistent with the view that active funds have little or no incremental economic value over low-cost index funds.

  15. Mutual fund performance: A synthesis of taxonomic and methodological issues

    Directory of Open Access Journals (Sweden)

    S.G. Badrinath

    2010-12-01

    Full Text Available This paper provides a comprehensive taxonomy of mutual funds and discusses the relative importance of these fund types. While most academic research focuses on US equity funds, we provide results for many more asset classes with this taxonomy—fixed income, balanced, global, International, sector, market-neutral and long-short funds. For each, we start by reporting statistics on the number of funds and their total net asset values at different intervals over the last four decades. We then identify short and long-term patterns in annual returns to mutual funds. We study the cross-sectional and time-series properties of the distribution of investor flows into different types of mutual funds, describe the relationship between flows and performance and discuss its implications for the strategic behaviour of managers and investors. We estimate and interpret fund performance alphas using both the single-factor and four-factor Fama-French models for each taxonomy type. Finally we describe the state of academic research on portfolio performance evaluation tilted towards an applied audience.

  16. Another Look at the Performance of Actively Managed Equity Mutual Funds

    NARCIS (Netherlands)

    D.C. Blitz (David); J.J. Huij (Joop)

    2012-01-01

    textabstractIn this study we evaluate the performance of actively managed equity mutual funds against a set of passively managed index funds. We find that the return spread between the best performing actively managed funds and a factor-mimicking portfolio of passive funds is positive and as large

  17. The performance of Norwegian investment grade bond funds

    OpenAIRE

    Berge, Hjalmar Laudal; Kamalanathan, Sayanthan

    2016-01-01

    The following thesis examines the performance of Norwegian investment grade bond mutual funds in the period from January 2011 to January 2016. In this study we addresstwo important issues. Firstly, by applying a CAPM model framework, we examine whether funds are able to outperform passive portfolios. Due to the lack of appropriate benchmarks for evaluation in the Norwegian market, we construct and include a bond index in our analysis. Across several different model specifi...

  18. Measuring the performance of mutual funds: A case study

    Directory of Open Access Journals (Sweden)

    Jakšić Milena

    2015-01-01

    Full Text Available In this paper we evaluate the performance of eight open-end mutual funds in the Republic of Serbia for the period 2009-2012, with the aim of testing the justification of active portfolio management of mutual funds, and determining the selection capability of Serbian portfolio managers. Risk-weighted returns of mutual funds are compared with the risk-weighted return of the leading Belgrade Stock Exchange index, Belex15, whereas the following are used as performance measures: Sharpe ratio (Si, Treynor ratio (Ti, and Jensen's or Alpha index (αi. The results suggest that the portfolio of Serbian mutual funds has inferior performance compared to the market portfolio, which indicates the lack of selection capabilities of domestic portfolio managers.

  19. Performance Persistence of Equity Funds in Hungary

    Directory of Open Access Journals (Sweden)

    Dariusz Filip

    2011-03-01

    Full Text Available This study examines the phenomenon of performance persistence of equity funds in Hungary in two time perspectives: 1-year and 6-month perspectives. The empirical results confirm the occurrence of performance dependence in consecutive periods. There is also a strong evidence of short-term persistence in the total horizon of the study (from the beginning of 2000 to the end of 2009, and in several sub-periods. The 1-year persistence was also found in the tested sample and, in general, depended on the measure applied. Furthermore, I observed performance reversal, which can be partly explained by trend changes in the financial markets. The persistence of equity funds performance in Hungary is shaped by market factors rather than the diversity of managerial characteristics.

  20. Return Persistence and Fund Flows in the Worst Performing Mutual Funds

    OpenAIRE

    Jonathan B. Berk; Ian Tonks

    2007-01-01

    We document that the observed persistence amongst the worst performing actively managed mutual funds is attributable to funds that have performed poorly both in the current and prior year. We demonstrate that this persistence results from an unwillingness of investors in these funds to respond to bad performance by withdrawing their capital. In contrast, funds that only performed poorly in the current year have a significantly larger (out)flow of funds/return sensitivity and consequently show...

  1. Corporate Governance and Pension Fund Performance

    Directory of Open Access Journals (Sweden)

    Oskar Kowalewski

    2012-03-01

    Full Text Available This study provides new evidence on the impact of governance on the performance of privately defined contribution pension plans. Using a hand collected data set on governance factors, the study shows that the external and internal governance mechanisms in pension plans are weak. One explanation for this weakness is the potential conflict between the pension beneficiaries and the fund’s owner, which depends on who bears the investment risk in the pension plan. Hence, different governance factors are found to be important for pension fund return on invested assets and also for its economic performance. Consequently, the overall policy conclusion is that more focus should be put on the governance of the pension funds, taking into account the different interests of the beneficiaries and owners as it may determine their performance.

  2. Importance of the fund management company in the performance of socially responsible mutual funds

    OpenAIRE

    Belghitar, Yacine; Clark, Ephraim; Deshmukh, Nitin

    2017-01-01

    We compare the performance of a sample of U.K.-based socially responsible investment (SRI) funds with similar conventional funds using a matched-pair analysis based on size, age, investment universe, and fund management company (FMC). We find that both the SRI and conventional funds outperform the market index about 50% of the time, even after fees. Subsample tests show that the SRI funds in our sample perform better in the pre- and postfinancial crisis periods but underperform during the fin...

  3. An Evaluation of the Children's Scholarship Fund.

    Science.gov (United States)

    Peterson, Paul E.; Campbell, David E.

    This paper presents first-year results of an evaluation of a Children's Scholarship Fund (CSF) program which provided scholarships enabling low-income families nationwide to send their K-8 children to private schools of their choice. Families won scholarships through a lottery. Telephone surveys of parents/caretakers of children who took advantage…

  4. Patentometrics As Performance Indicators for Allocating Research Funding to Universities

    DEFF Research Database (Denmark)

    Mortensen, Peter Stendahl

    This paper is part of a preliminary investigation of potential indicators on the performance of universities and other public research institutions to be used for allocating general and other research funding. The paper will describe and discuss potential patentometrics and how they can be used...... in different types of analyses and evaluations in general and relating to universities and other public research institutions. Further, the relevance and possibility of including some patentometrics in the allocation of research funding is discussed. Also, other metrics regarding academic linkages...

  5. Danish Mutual Fund Performance - Selectivity, Market Timing and Persistence

    DEFF Research Database (Denmark)

    Christensen, Michael

    Funds under management by Danish mutual funds have increased by 25% annually during the last 10 years and measured per capita Denmark has the third largest mutual fund industry in Europe. This paper provides the first independent performance analysis of Danish mutual funds. We analyse selectivity...

  6. Hanford Site performance summary: EM funded programs

    International Nuclear Information System (INIS)

    Edwards, C.

    1995-09-01

    Hanford performance at fiscal year end reflects a three percent unfavorable schedule variance ($46.3 million*) which was an improvement over August 1995 ($46.3 million for September versus $65.9 million for August) and is below established reporting thresholds (greater than 3 percent). The majority of the behind schedule condition (53 percent) is attributed to EM-40 (Office of Environmental Restoration [ER]) and is a result of late receipt of funds, procurement delays, and US Army Corps of Engineers (USACE) work planned but not accomplished. Other primary contributors to the behind schedule condition are associated with tank farm upgrades, high-level waste disposal and work for others (support to the US Department of Energy-Headquarters [DOE-HQ]). The remaining behind schedule condition is distributed throughout the remaining Hanford programs and do not share common causes. A breakdown of individuals listed on page 8

  7. A review of behavioural and management effects in mutual fund performance

    OpenAIRE

    Cuthbertson, Keith; Nitzsche, Dirk; O'Sullivan, Niall

    2016-01-01

    This paper surveys and critically evaluates the literature on the role of management effects and fund characteristics in mutual fund performance. First, a brief overview of performance measures is provided. Second, empirical findings on the predictive power of fund characteristics in explaining future returns are discussed. Third, the paper reviews the literature on fund manager behavioural biases and the impact these have on risk taking and returns. Finally, the impact of organizational str...

  8. Mandatory portfolio disclosure, stock liquidity, and mutual fund performance

    OpenAIRE

    Agarwal, Vikas; Mullally, Kevin Andrew; Tang, Yuehua; Yang, Baozhong

    2014-01-01

    We examine the impact of mandatory portfolio disclosure by mutual funds on stock liquidity and fund performance. We develop a model of informed trading with disclosure and test its predictions using the SEC regulation in May 2004 requiring more frequent disclosure. Stocks with higher fund ownership, especially those held by more informed funds or subject to greater information asymmetry, experience larger increases in liquidity after the regulation change. More informed funds, especially thos...

  9. Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns.

    OpenAIRE

    Grinblatt, Mark; Titman, Sheridan

    1993-01-01

    This article introduces a new measure of portfolio performance and applies it to study the performance of a large sample of mutual funds. In contrast to previous studies of mutual fund performance, the measure used in this study employs portfolio holdings and does not require the use of a benchmark portfolio. It finds that the portfolio choices of mutual fund managers, particularly those that managed aggressive growth funds, earned significantly positive risk-adjusted returns in the 1976-85 p...

  10. Pension Fund Performance in East Asia: A Comparative Study

    Directory of Open Access Journals (Sweden)

    Zamri Ahmad

    2015-06-01

    Full Text Available This paper discusses and analyzes asset allocation and performance of the major pension funds in four East Asia countries, namely Malaysia, Singapore, Hong Kong and South Korea. The respective funds for these countries are Employee Provident Fund (EPF, Central Provident Fund (CPF, Mandatory Pension Fund (MPF and National Pension Service (NPS. The impact of some economic crises on the fund performance will also be assessed. Besides looking at the individual countries, a comparison of the performance among all the funds will also be done. From the analyses, it is found that the CPF is the most conservative pension fund as it invested most of its funds in fixed income and the investments were made in the local markets, while MPF is the most aggressive pension fund as most of its funds were invested in equities. Performance of the funds was measured in terms of return on investment (ROI. All funds recorded the lowest ROI during the subprime crisis in 2008. Besides the subprime crisis, these funds were also affected by the Japanese earthquake as lower ROI were also observed in 2011.

  11. The Performance-based Funding Scheme of Universities

    Directory of Open Access Journals (Sweden)

    Juha KETTUNEN

    2016-05-01

    Full Text Available The purpose of this study is to analyse the effectiveness of the performance-based funding scheme of the Finnish universities that was adopted at the beginning of 2013. The political decision-makers expect that the funding scheme will create incentives for the universities to improve performance, but these funding schemes have largely failed in many other countries, primarily because public funding is only a small share of the total funding of universities. This study is interesting because Finnish universities have no tuition fees, unlike in many other countries, and the state allocates funding based on the objectives achieved. The empirical evidence of the graduation rates indicates that graduation rates increased when a new scheme was adopted, especially among male students, who have more room for improvement than female students. The new performance-based funding scheme allocates the funding according to the output-based indicators and limits the scope of strategic planning and the autonomy of the university. The performance-based funding scheme is transformed to the strategy map of the balanced scorecard. The new funding scheme steers universities in many respects but leaves the research and teaching skills to the discretion of the universities. The new scheme has also diminished the importance of the performance agreements between the university and the Ministry. The scheme increases the incentives for universities to improve the processes and structures in order to attain as much public funding as possible. It is optimal for the central administration of the university to allocate resources to faculties and other organisational units following the criteria of the performance-based funding scheme. The new funding scheme has made the universities compete with each other, because the total funding to the universities is allocated to each university according to the funding scheme. There is a tendency that the funding schemes are occasionally

  12. Performance clustering and incentives in the UK pension fund industry

    OpenAIRE

    David Blake; Bruce N. Lehmann; Allan Timmermann

    2002-01-01

    Despite pension fund managers being largely unconstrained in their investment decisions, this paper reports evidence of clustering in the performance of a large cross-section of UK pension fund managers around the median fund manager. This finding is explained in terms of the predominance of a single investment style (balanced management), the fee structures and incentives operating in the UK pension fund industry to maximise relative rather than absolute performance, the high concentration i...

  13. Longitudinal analysis of mutual fund performance

    NARCIS (Netherlands)

    Ter Horst, J.R.

    1998-01-01

    Many different motivations for investing in mutual funds have been provided in the literature, including the claim that managers of mutual funds have special abilities that can be used to outperform the market. Testing of the validity of these claims is complicated by two facts. First, the expected

  14. Comparative Analysis of A, B Type and Exchange Traded Funds Performances with Mutual Fund Performance Measures, Regression Analysis and Manova Technique.

    Directory of Open Access Journals (Sweden)

    Mehmet Arslan

    2010-06-01

    Full Text Available The objective of the study is to evaluate risk- reward relationship and relative performances of the 4 different groups of mutual funds. To this end, daily return data of these 12 mutual funds (3 type variable fund; 3 B type variable fund; 3 A type stock fund and 3 A type Exchange traded fund together with daily market index (imkb100 return and daily return of riskless rate for the period from January 2006 to Feb 2010. The 180-day maturity T-Bill has been selected to represent riskless rate. To determine performances of mutual funds; Sharpe ratio, M2 measure, Treynor index, Jensen index, Sortino ratio, T2 ratio, Valuation ratio has been applied and these indicators produced conflicting results in ranking mutual funds. Then timingand selection capability of the fund manager has been determined by applying simple regression and Quadratic regression. Interestingly all funds found to have positive coefficient, indicating positive election capability of managers; but in terms of timing capability only one fund managers showed success. Finally, to determine extent to which mean returns are differs between mutual funds, market index (imkb100 and riskless rate (180 day TBill results of the analysis revealed that mean returns of individual security returns differs at P≤0,01 level. That shows instability in returns and poor ex-ante forecast modeling capability.

  15. Aspects of manager, portfolio allocation, and fund performance in Brazil

    Directory of Open Access Journals (Sweden)

    Cláudia Olímpia Neves Mamede Maestri

    Full Text Available ABSTRACT This paper intends to contribute to the literature on investment funds in emerging markets by looking at the performance of multimarket funds in Brazil from a manager perspective. The aim of the paper was to analyze whether some characteristics of investment fund managers, as well as their portfolio holdings, can affect fund performance. In emerging countries both portfolio asset allocation and manager characteristics can help explain differences in the fund performance, which increases the relevance of this study. Therefore, the impact of this research lies in its revealing a significant relationship between risk-adjusted return and the portion of portfolios allocated to fixed or variable income, which seems that have not been explored in the context of emerging economies yet. A total of 6,002 multimarket funds were analyzed, covering the period between September 2009 and December 2015, using panel data with robust standard errors clustered by funds. We also employed robust statistics in order to assess some potential biases due to outliers, by analyzing the breakdown point in the estimated models. It should be noted that portfolio composition (allocation of portfolios into variable income and fixed income was the most important factor in explaining a potential change in the performance of Brazilian multimarket funds. Also important were the effectiveness of the management of these funds, that is, the best risk-adjusted returns were delivered by less experienced managers, funds investing more in fixed income, managers with more funds under management, and larger funds.

  16. PERFORMANCE MEASUREMENT OF UCITS INVESTMENT FUNDS IN CROATIA

    Directory of Open Access Journals (Sweden)

    Marko Curkovic

    2017-03-01

    Full Text Available UCITS investment funds represent an important investment opportunity for retail, as well for institutional investors in the European Union. The aim of this paper is to analyse the performance of the UCITS investment funds in Croatia and to detect relatively homogeneous groups among the UCITS funds based on its performance. The analysis includes 55 UCITS, in the period from the beginning of 2011 until the end of 2014, and it is conducted on daily data of share prices, available from Bloomberg terminal. Analysis is performed separately within the groups of different investment fund by investment strategy. The research methodology is based on the calculation of various indicators of absolute and relative risk-adjusted performance and riskiness of the funds. In general, based on analysis of performance measures, it can be concluded that funds with higher values of net assets were more successful compared to the funds with below-average asset values. Also, funds with below-average values of net assets were more volatile. At the same time, funds run by foreign own management companies were more successful by the absolute performance measures, compared to funds run by management companies with domestic ownership. On the other hand, those funds were more volatile, as well.

  17. The Analysis of Mutual Fund Performance: Evidence from U.S. Equity Mutual Funds

    NARCIS (Netherlands)

    D.P. Budiono (Diana)

    2010-01-01

    textabstractWe study the mutual fund performance for about 45 years. There are several key points that we can withdraw from this dissertation. First, to study the persistence of mutual fund performance, it is important to consider time-varying exposures because when they are ignored, the persistence

  18. Analysis of the mutual funds and pension funds in Spain: evolution and performance

    Directory of Open Access Journals (Sweden)

    Mercedes Alda García

    2012-06-01

    Full Text Available Mutual funds and pension funds are the most important investment products in Spain. Nonetheless, it should not be confused with each other, or take them as equivalent; since the latter have also the characteristic of a long-term savings product, in order to obtain additional funds for retirement. These differences may influence the investor when deciding on one of these instruments, but also the manager, developing different management strategies.Therefore, on this paper we examine the main magnitudes of both markets in Spain. Moreover, we analyze the performance of two Spanish fund samples (one with global equity mutual funds and another with global equity pension funds with the purpose of showing if their performance is efficient, and if there are differences on their management.

  19. PERFORMANCE OF SELECT MUTUAL FUNDS IN INDIA

    OpenAIRE

    Manoj Kumar Dash*

    2018-01-01

    Mutual funds is one of the major instruments for wealth creation and wealth saving in the current years. It is a financial instrument which gives positive result and satisfactory return to its investors. The mutual industries in have undergone a most successful phase in the last 15 years. The AUM has shown tremendous growth since inception from Rs. 25 crore in 1965 to Rs. 22,36,717 crore in December 2017. But this tremendous growth in the mutual fund industries in India is still lacking for b...

  20. The Persistence of Risk-Adjusted Mutual Fund Performance.

    OpenAIRE

    Elton, Edwin J; Gruber, Martin J; Blake, Christopher R

    1996-01-01

    The authors examine predictability for stock mutual funds using risk-adjusted returns. They find that past performance is predictive of future risk-adjusted performance. Applying modern portfolio theory techniques to past data improves selection and allows the authors to construct a portfolio of funds that significantly outperforms a rule based on past rank alone. In addition, they can form a combination of actively managed portfolios with the same risk as a portfolio of index funds but with ...

  1. Funding Ohio Community Colleges: An Analysis of the Performance Funding Model

    Science.gov (United States)

    Krueger, Cynthia A.

    2013-01-01

    This study examined Ohio's community college performance funding model that is based on seven student success metrics. A percentage of the regular state subsidy is withheld from institutions; funding is earned back based on the three-year average of success points achieved in comparison to other community colleges in the state. Analysis of…

  2. Behavioural aspects influencing the performance of Turkish fund managers

    Directory of Open Access Journals (Sweden)

    Bruno S. Sergi

    2009-11-01

    Full Text Available Using original survey data collected by the authors in 2005 we investigate the determinants of Turkish fund managers’ performance as measured by the number of clients that a fund manager has, the number of investment funds that the manager is responsible for and the size of the manager’s portfolio. All three measures of Turkish fund manager performance systematically vary with fund manager characteristics. This is consistent with Chevalier and Ellison’s (1999 finding for the USA that some managers are better than others. Further, the number of training courses attended by a manager and years of experience (in a particular organisation and/or as a fund manager are found to positively influence all three measures of performance. This may suggest that senior managers and those with more training are given more responsibility than less experienced and less trained managers.

  3. The Environmental Performance of Dutch Government Bond Funds

    NARCIS (Netherlands)

    Scholtens, B.

    2010-01-01

    We investigate the implications of using different indicators to assess the sustainability performance of investment funds. In particular, we look into the environmental performance of Dutch government bond funds. We find that it does matter a lot which particular indicator is used. This suggests

  4. State Higher Education Performance Funding: Data, Outcomes, and Policy Implications

    Science.gov (United States)

    Tandberg, David A.; Hillman, Nicholas W.

    2014-01-01

    As states explore strategies for increasing educational attainment levels, attention is being paid to performance funding. This study asks, "Does the introduction of performance funding programs affect degree completion among participating states?" Utilizing a quasi-experimental research design we find limited evidence that performance…

  5. Performance of Mutual Funds in India 2003-2008

    OpenAIRE

    Raizada, Shantanu

    2008-01-01

    Many studies have been conducted in the past on the performance of Mutual Funds in comparison to the market index. These studies may differ in their time period, but most of them concluded that on an average the Mutual Funds failed to outperform the market thus the Efficient Market Hypothesis holds good. This research was based on the performance of 20 open ended equity diversified growth Mutual Funds for a period of 5 years from April 2003 to March 2008 and was compared to the BSE 500. Funds...

  6. RECONSTRUCTION OF PENSION FUND PERFORMANCE MODEL AS AN EFFORT TO WORTHY PENSION FUND GOVERNANCE

    Directory of Open Access Journals (Sweden)

    Apriyanto Gaguk

    2017-08-01

    Full Text Available This study aims to reconstruct the performance assessment model on Pension Fund by modifying Baldrige Assessment method that is adjusted to the conditions in Dana Pensiun A (Pension Fund A in order to realize Good Pension Fund Governance. This study design uses case study analysis. The research sites were conducted in Dana Pensiun A. The informants in the study included the employer, supervisory board, pension fund management, active and passive pension fund participant as well as financial services authority elements as the regulator. The result of this research is a construction of a comprehensive and profound retirement performance assessment model with attention to aspects of growth and fair distribution. The model includes the parameters of leadership, strategic planning, stakeholders focus, measurement, analysis, and knowledge management, workforce focus, standard operational procedure focus, result, just and fair distribution of wealth and power.

  7. Liquidity risk and the performance of UK mutual funds

    OpenAIRE

    Foran, Jason; O'Sullivan, Niall

    2014-01-01

    We examine the role of liquidity risk, both as a stock characteristic as well as systematic liquidity risk, in UK mutual fund performance for the first time. Using four alternative measures of stock liquidity we extract principal components across stocks in order to construct systematic or market liquidity factors. We find that on average UK mutual funds are tilted towards liquid stocks (except for small stock funds as might be expected) but that, counter-intuitively, liquidity as a stock cha...

  8. Statistical analyses of the performance of Macedonian investment and pension funds

    Directory of Open Access Journals (Sweden)

    Petar Taleski

    2015-10-01

    Full Text Available The foundation of the post-modern portfolio theory is creating a portfolio based on a desired target return. This specifically applies to the performance of investment and pension funds that provide a rate of return meeting payment requirements from investment funds. A desired target return is the goal of an investment or pension fund. It is the primary benchmark used to measure performances, dynamic monitoring and evaluation of the risk–return ratio on investment funds. The analysis in this paper is based on monthly returns of Macedonian investment and pension funds (June 2011 - June 2014. Such analysis utilizes the basic, but highly informative statistical characteristic moments like skewness, kurtosis, Jarque–Bera, and Chebyishev’s Inequality. The objective of this study is to perform a trough analysis, utilizing the above mentioned and other types of statistical techniques (Sharpe, Sortino, omega, upside potential, Calmar, Sterling to draw relevant conclusions regarding the risks and characteristic moments in Macedonian investment and pension funds. Pension funds are the second largest segment of the financial system, and has great potential for further growth due to constant inflows from pension insurance. The importance of investment funds for the financial system in the Republic of Macedonia is still small, although open-end investment funds have been the fastest growing segment of the financial system. Statistical analysis has shown that pension funds have delivered a significantly positive volatility-adjusted risk premium in the analyzed period more so than investment funds.

  9. Stock investment funds in Brazil: performance and management expertise

    Directory of Open Access Journals (Sweden)

    Paulo Rogério Faustino Matos

    2012-01-01

    Full Text Available This article analyzes the stock investment fund market in Brazil and proposes dynamic rankings constructed from different risk-return metrics, during the period from 1998 to 2009. We find an uncommon level of persistence, mainly among the best performing funds, due to the expertise of the managers. The quadrimestral rebalancing of the portfolios based on these rankings permits inferring that in scenarios characterized as economic booms or recovery of financial markets, the strategies with equal participation in winner funds provides significantly higher average monthly gains, reduction of risk associated with diversification and consequently enhanced performance in relation to market or sector benchmarks. This evidence is robust to the use of different performance metrics for fund selection, indicating that active investors in winning funds demand good performance not only in terms of the Sharpe ratio, but also with respect to other metrics, such as the Treynor, Calmar and Sortino ratios. In these optimistic scenarios, only the industrial sector index (INDX provided returns compatible with those of these fund’s portfolios. However, during periods of crisis, no strategy involving the funds managed to provide hedge levels characteristic of the electric energy sector index (IEE, so it can be said that the majority of investing strategies are dominated in gain-risk criteria by sector or market indexes, with the exception of value-weighted portfolios composed of losing funds, a signal that the usual passive investors in large funds indexed to the Ibovespa can be presenting a greater level of inertia.

  10. PECULIARITIES OF PERFORMANCE MEASUREMENT IN SOVEREIGN WEALTH FUNDS

    Directory of Open Access Journals (Sweden)

    M. Onopko

    2014-01-01

    Full Text Available Sovereign wealth funds as the subjects of economic relations are analyzed and the main approaches to the assessment of their activities are discussed. The dependence of the performance measurement system and the strategic objectives of the funds and economic policy objectives of the government is indicated.

  11. PERFORMANCE PERSISTENCE OF TURKISH A AND B TYPE MUTUAL FUNDS: THE PARAMETRIC AND NONPARAMETRIC APPROACH

    Directory of Open Access Journals (Sweden)

    VELİ AKEL

    2013-06-01

    Full Text Available In this study, single index models are applied to a free survivorship bias database of 51 A and 51 B Types Turkish mutual funds using monthly returns over 5 years from 2000 to 2004. Then, it has been investigated whether mutual fund managers have market timing ability. Turkish Institutional Investment Managers’ Association A and B Type Fund Indexes are firstly used as benchmark portfolios. The challenging question is whether Turkish mutual funds have performance persistency over the short and long term or not. This study uses both parametric and non-parametric techniques to examine performance persistence. The overall conclusion is that Type A mutual funds managers do not have stock selection and market timing ability. However, Type B mutual funds managers do have stock selection ability. Type A mutual funds show evidence of relative and absolute persistence in the short term while Type B mutual funds show significant results of relative and absolute persistence in both of the terms. Although there are various results in performance persistence of mutual funds, the repeat winner phenomenon is stronger over shorter periods of evaluation. Consequently, it seems that Turkish mutual funds have performance persistency at least for the short term.

  12. The performance of mutual funds : evidence from Turkey

    OpenAIRE

    Parlak, Deniz

    2014-01-01

    In academic world much controversy exists regarding the performance of pension and mutual funds. Some studies have concluded that actively managed funds on average, underperform their passively managed counterparts whereas other studies have shown just the reverse. Another important debate centers on the persistence of under- and over-performance of portfolios. Still evidence from emerging markets which are characterized by high volatility in terms of terms of stock returns is scarce. Hence t...

  13. Evaluating the Student Loan Fund of Thailand

    Science.gov (United States)

    Tangkitvanich, Somkiat; Manasboonphempool, Areeya

    2010-01-01

    The Thai higher education sector has expanded quickly during the past decade, making a transition from an elitist to a mass institution. A driving force behind the expansion was believed to be the Student Loan Fund (SLF), introduced in 1996. During the first 10 years of its operation, the SLF has lent to more than 2.6 million students, with the…

  14. Hedge Fund Performance Attribution Under Various Market Conditions

    OpenAIRE

    Stafylas, Dimitrios; Anderson, Keith Philip; Uddin, Muhammad Moshfique

    2018-01-01

    We investigate US hedge funds’ performance. Our proposed model contains exogenous and endogenous break points, based on business cycles and on a regime switching process conditional on different states of the market. During difficult market conditions most hedge fund strategies do not provide significant alphas. At such times hedge funds reduce both the number of their exposures to different asset classes and their portfolio allocations, while some strategies even reverse their exposures. Dir...

  15. PERSISTENCE IN PERFORMANCE FOR MUTUAL FUNDS IN PERIODS OF CRISIS

    Directory of Open Access Journals (Sweden)

    Theodoros KARGIDIS

    2012-09-01

    Full Text Available The study investigates the persistence in performance for a sample of South European funds, domiciled in Portugal, Italy, Greece and Spain. Employing the Sharpe ratio, risk adjusted performance is measured in an attempt to judge the influence of the 2008 crisis and the current debt crisis on funds’ inclination to persist in their previous returns record. Examination period extends from January 2004 to December 2010 incorporating stages of relative stability in the stock and bond markets while also capturing the early stages of the eurozone crisis. We categorize funds as winners and losers in consecutive 6-monthly periods, thus being able to judge persistence in the short run, while our results suggest that the identification of winners and losers could enable us to investigate the possibility to gain investment advantages through this finding. Overall results suggest evidence of persistent results, whether positive or negative, both during the 2008 crisis and the current debt crisis, leading us to deduce that factors leading to performance persistence are not affected by market changes, since medium to long term persistence bypasses any temporary market mischief. This finding could be of use for fund managers aiming at establishing viable investment strategies, at their epicenter being the exploitation of such clues, suggesting persistence in returns. A fund of funds manager employing funds both in equities and fixed income could potentially choose to invest exclusively or more heavily in the winners of previous periods and avoid accordingly poor performers, thus achieving higher returns on average. For this purpose simple investment strategies are employed where we test the outcome of an investment strategy that would invest on fixed income securities by choosing those funds that were winners in the distribution of returns in the previous 6-monthly period, while disinvesting from poor performers and funds switching sides in performance

  16. Do mutual fund performance and the abilities of fund managers in Slovenia deviate from those in developed markets?

    OpenAIRE

    Markovič-Hribernik, Tanja; Vek, Uroš

    2015-01-01

    Up until the beginning of the financial crisis, Slovenia was marked by exceptionally high growth rates in the mutual fund industry. The reason for this were in the performance of the Slovenian stock market index, which was one of the best performing in 2007. In this paper we analyzed mutual funds performance in Slovenia to discover the quality of fund managers in the market. The focus was on funds with selected sectoral investment policy. We analyzed different risk adjusted measures such as t...

  17. Performance evaluation and financial market runs

    NARCIS (Netherlands)

    Wagner, W.B.

    2013-01-01

    This paper develops a model in which performance evaluation causes runs by fund managers and results in asset fire sales. Performance evaluation nonetheless is efficient as it disciplines managers. Optimal performance evaluation combines absolute and relative components in order to make runs less

  18. EGYPTIAN MUTUAL FUNDS ANALYSIS: HISTORY, PERFORMANCE, OBJECTIVES, RISK AND RETURN

    Directory of Open Access Journals (Sweden)

    Petru STEFEA

    2013-10-01

    Full Text Available The present research aims to overview the mutual fund in Egypt. The establishment of the first mutual funds was achieved in 1994. Nowadays, the total mutual funds reached 90 funds , approximately. The income funds represent the largest share of the Egyptian mutual funds (40%, growth funds (25% and the private equity funds is at least (1%. The total population of the Egyptian mutual funds reached 22. Finally, the study proved that the Egyptian mutual funds have an impact on fund return , total risk and systemic; when analysis relationship between risk and return. The study found influencing for mutual fund's objectives on Sharpe and Terynor ratios.

  19. Performance of Exchange-traded Fund in the Nordic Market

    OpenAIRE

    Huynh, Son

    2016-01-01

    Exchange-traded Fund (ETF) is one of the newer financial derivative products, yet its growth and popularity have been expansive at a remarkable rate. As a fund, it offers a convenient way to diversify the portfolio and gain exposure to foreign markets. As a stock, it holds the simplicity of being tradable on an exchange. In recent years, ETF has gained increasing interest as the next investment tool. The performance of this financial instrument is therefore worthy of discussion. The aim of th...

  20. A causality between fund performance and stock market

    Science.gov (United States)

    Kim, Ho-Yong; Kwon, Okyu; Oh, Gabjin

    2016-02-01

    We investigate whether the characteristic fund performance indicators (FPI), such as the fund return, the Net asset value (NAV) and the cash flow, are correlated with the asset price movement using information flows estimated by the Granger causality test. First, we find that the information flow of FPI is most sensitive to extreme events of the Korean stock market, which include negative events such as the sub-prime crisis and the impact of QE (quantitative easing) by the US subprime and Europe financial crisis as well as the positive events of the golden period of Korean Composite Stock Price Index (KOSPI), except for the fund cash flow. Second, both the fund return and the NAV exhibit significant correlations with the KOSPI, whereas the cash flow is not correlated with the stock market. This result suggests that the information resulting from the ability of the fund manager should influence stock market. Finally, during market crisis period, information flows between FPI and the Korean stock market are significantly positively correlated with the market volatility.

  1. The effect of management team characteristics on performance and style extremity of mutual fund portfolios

    Directory of Open Access Journals (Sweden)

    Liu Qiong

    2014-01-01

    Full Text Available Purpose: Along with mutual funds’ scale and quantity expanding for our country, it is common for fund management companies hiring new managers or the original fund managers mobilizing from one to another. The high liquidity of fund managers makes different managers regroup to manage the funds that belong to the same fund management company in each fund year. The characteristics of these different management team will influence the fund performance, and also affect the earnings of the fund management company and portfolio investors. The purpose of this paper is as follows. First, evaluating the effect of management team characteristics on portfolio characteristics: risk, performance, and extremity. Second, testing the hypothesis that the ranking of mid-year performance have effect on investment style extremity and research what relationship exists between this phenomenon and management team characteristics in depth.Design/methodology/approach: On the analysis of the relationships between the management team characteristics and portfolio characteristics, a series of OLS regressions is run where the time series regression model (the factor model and cross-sectional regression are included based on using the STATA, EVIEWS and MATLAB. The validity and practicability of the model will be verified in the paper. All of the above are aimed at achieving portfolio optimization and realizing the maximization of the interests of fund management companies and investors.Findings: The main findings are as follows. Teams with more doctors or MBA (CPA and CFA hold more risky portfolios, while teams with long team tenure hold less. More members and large gender diversity have negative effect on performance, and the opposite is age diversity. Teams with more members and long tenure tend to hold less extreme style decisions, but age diversity is related to more. Besides, tournament hypothesis does exist in China investment funds industry especially when the

  2. Predictive power of Brazilian equity fund performance using R2 as a measure of selectivity

    Directory of Open Access Journals (Sweden)

    Marcelo dos Santos Guzella

    2017-03-01

    Full Text Available ABSTRACT This paper aimed to investigate the impact of levels of selectivity on the performance of equity funds using a methodology applied for the first time ever (as far as we know in the Brazilian market. As an indicator of the activity level of a fund, we proposed the coefficient of determination (R2 of the regression of its returns over market returns. In total, 867 funds were analyzed in the period between November 2004 and October 2014. The hypothesis tested is that more selective funds perform better to compensate for their higher operating costs. This hypothesis was confirmed in the Brazilian market. Dynamic equally-weighted portfolios of funds were simulated, according to their past R2 and alphas, with monthly rebalancing and 12-month moving windows. The portfolio of the most selective funds had a Sharpe ratio of 0.0494, on a monthly basis, while the portfolio of the least selective funds had a Sharpe ratio of -0.0314. Performance was also higher in evaluations involving excess returns, Jensen’s alpha, and accumulated returns, as well as when compared to randomly selected portfolios. Moreover, past performance (as measured by Jensen’s alpha was also a predictor of future performance. Particularly, the portfolio composed by funds with a higher past alpha and lower past R2 presented a Sharpe ratio of 0.1483 and a Jensen’s alpha of 0.87% (significant at 1%, while the one composed of funds with a lower past alpha and lower activity level presented a Sharpe ratio of -0.0673 and an alpha of -0.32% (also significant at 1%.

  3. Mutual Fund Flows and Performance in Rational Markets

    OpenAIRE

    Jonathan B. Berk; Richard C. Green

    2004-01-01

    We develop a simple rational model of active portfolio management that provides a natural benchmark against which to evaluate observed relationship between returns and fund flows. Many effects widely regarded as anomalous are consistent with this simple explanation. In the model, investments with active managers do not outperform passive benchmarks because of the competitive market for capital provision, combined with decreasing returns to scale in active portfolio management. Consequently, p...

  4. E-Commerce New Venture Performance: How Funding Impacts Culture.

    Science.gov (United States)

    Hamilton, R. H.

    2001-01-01

    Explores the three primary methods of funding for e-commerce startups and the impact that funding criteria have had on the resulting organizational cultures. Highlights include self-funded firms; venture capital funding; corporate funding; and a table that compares the three types, including examples. (LRW)

  5. The Performance-Based Research Fund, Gender and a Cultural Cringe

    Science.gov (United States)

    Curtis, Bruce

    2016-01-01

    This article explores ways the Performance-based Research Fund (PBRF) produces gendered results and expresses a cultural cringe. It is argued that the research evaluation is fixated with being "world-class" at the expense of academic practice that focuses on New Zealand. In this context, disadvantage faced by female academics under the…

  6. A Portrait of Hedge Fund Investors: Flows, Performance and Smart Money

    NARCIS (Netherlands)

    G. Baquero; M.J.C.M. Verbeek (Marno)

    2005-01-01

    textabstractWe explore the flow-performance interrelation by explicitly separating the investment and divestment decisions of hedge fund investors. The results show that different determinants and evaluation horizons underlie both decisions. While money inflows are sensitive to past long-run

  7. PERFORMANCE AND CHARACTERISTICS OF MUTUAL FUNDS: EVIDENCE FROM THE PORTUGUESE MARKET

    Directory of Open Access Journals (Sweden)

    Júlio Lobão

    2015-12-01

    Full Text Available In this paper we aim to study the relation between fund performance and fund attributes in the Portuguese market. The sample includes 124 equity funds, bond funds and money market funds that traded in the 2004-2011 period. A comprehensive set of fund-specific characteristics, never used before in conjunction in the literature, was considered. The methodology which was adopted had two distinct phases. Firstly, we compared the returns of each category of funds with the appropriate reference markets. Secondly, the fund performance, measured by the Jensen’s alpha, was used in a multi-factor model with panel data in which the independent variables were the fund attributes. The results show that Portuguese funds were, in general, not able to beat the benchmarks which is consistent with the existence of efficient financial markets. Only the fixed income mutual funds performed well. Moreover, it is possible to conclude that, for each category of mutual funds, their characteristics are useful to the investor in the moment of choosing the best funds. For example, in the case of funds that invest in Portuguese stocks, the best performance occurs among older and larger funds, funds with higher costs, funds with good past performance and funds whose trading activity is low.

  8. Evaluation of Portfolio Performance of Turkish Investment Funds = Türk Yatırım Fonlarında Portföy Performanslarının Değerlendirilmesi

    Directory of Open Access Journals (Sweden)

    Y. Ömer ERZURUMLU

    2001-06-01

    Full Text Available This article attempts to measure performances of Type A and Type B funds relative to T-Bill rates and ISE-100 index in Turkey over the period of January 1998-June 2000 using Sharpe, Treynor, Jensen, and Graham&Harvey indices. 55 Type A, and 77 Type B Funds were included in the analysis. In order to test whether four different indices make similar ranking, Spearman rank correlation analysis was utilized. Secondly, Wilcoxon Signed-Rank test was applied to test the significance of the differences in Sharpe indices of alternative investment instruments included in the analysis. Analysis revealed that different criteria rank the portfolios similarly. But more importantly it was found that, the best investment over the entire analysis period as well as in the sub-periods was T-Bills, which was followed by ISE-100 index, Type B Funds, and Type A funds respectively. This finding makes the merits of the efforts spent by funds managers, over the analysis period, to outperform the market highly questionable

  9. Funding Public Higher Education in Colorado: How Has the College Opportunity Funding Model Impacted Educational Funding and Performance?

    Science.gov (United States)

    Middlemist, George Edward

    2017-01-01

    During the 2004 legislative session, the Colorado General Assembly enacted Senate Bill 189 (SB189), which established the first system of college vouchers in the United States. The supporters of SB189 hoped that the voucher system, called the College Opportunity Fund (COF), would: 1) stabilize the flow of state funding to higher education; 2)…

  10. Profitability recent open stock funds in Brazil: analysis of the performance of a management Funds Group active in relation to management fees charged for resource managers

    Directory of Open Access Journals (Sweden)

    Sergio Ricardo Mendes Vasconcelos

    2016-10-01

    Full Text Available This paper aimed to evaluate the performance of a specific group of active management equity investments funds relating it to the management fees charged by managers in order to answer the following research problem: open equity funds with active management, that charge higher management fees, are those that provide the best returns for the investor? The objective was to test the hypothesis under which it is evident that the funds that charged the highest rates are those with the best performances evaluated according to the average yield of the last five years. To achieve this objective, a study of descriptive nature was carried out with a quantitative approach having as object of study the profitability of Brazilian Equity Fund ranked by the Brazilian Association of Financial and Capital Markets (Anbima as IBX Active Equity Funds in the period 2010 to 2014. The analyzed returns were calculated from the Information ratio index, which measures the risk-adjusted return of the asset class. The study found no correlation between the performance of the funds and charged management fees.

  11. The Performance of Indian Equity Funds in the Era of Quantitative Easing

    Directory of Open Access Journals (Sweden)

    Ömer Faruk Tan

    2015-10-01

    Full Text Available This study aims to evaluate the performance of Indian equity funds between January 2009 and October 2014. This study period coincides with the period of quantitative easing during which the developing economies in financial markets have been influenced. After the global financial crisis of 2008 came a period of quantitative easing (QE, creating an increase in the money supply and leading to a capital flow from developed countries to developing countries. During this 5-year 10-month period, in which the relevant quantitative easing continued, Indian CNX500 price index yielded approximately 21% compounded on average, per annum. In this study, Indian equity funds are examined in order to compare these funds’ performance within this period. Within this scope, 12 Indian equity funds are chosen. In order to measure these funds’ performances, the Sharpe ratio (1966, Treynor ratio (1965, Jensen’s alpha (1968 methods are used. Jensen’s alpha is also used in identifying selectivity skills of fund managers. Additionally, the Treynor & Mazuy (1966 regression analysis method is applied to show the market timing ability of fund managers.

  12. Mutual funds : Management styles, social responsibility, performance and efficiency

    NARCIS (Netherlands)

    Barkó, Tamás; Renneboog, Luc; Baker, H.; Filbeck, G.; Kiymaz, H.

    2015-01-01

    The mutual fund industry represents a substantial part of global financial markets with approximately 20 percent invested in mutual funds. Mutual funds offer a simple and easy-to-understand way to invest either into stocks or fixed income products, both for retail and institutional investors. This

  13. The Demise of Higher Education Performance Funding Systems in Three States. CCRC Working Paper No.17

    Science.gov (United States)

    Dougherty, Kevin J.; Natow, Rebecca S.

    2009-01-01

    Performance funding in higher education ties state funding directly to institutional performance on specific indicators, such as rates of retention, graduation, and job placement. One of the great puzzles about performance funding is that it has been both popular and unstable. Between 1979 and 2007, 26 states enacted it, but 14 of those states…

  14. The Demise of Higher Education Performance Funding Systems in Three States. CCRC Brief. Number 41

    Science.gov (United States)

    Dougherty, Kevin J.; Natow, Rebecca S.

    2009-01-01

    Performance funding in higher education ties state funding directly to institutional performance on specific indicators, such as rates of retention, graduation, and job placement. One of the great puzzles about performance funding is that it has been both popular and unstable. Between 1979 and 2007, 26 states enacted it, but 14 of those states…

  15. Market timing and selectivity performance of mutual funds in Ghana

    Directory of Open Access Journals (Sweden)

    Abubakar Musah

    2014-07-01

    Full Text Available The growing interest in mutual funds in Ghana has been tremendous over the last decade as evidenced by the continuous increases in number and total funds under management. However, no empirical work has been done on the selectivity and timing ability of the mutual fund managers. Using monthly returns data hand-collected from the reports of the mutual fund managers for the period January 2007-December 2012, this paper examines the market timing and selectivity ability of mutual fund managers in Ghana using the classic Treynor-Mazuy (1966 model and Henriksson- Merton (1981 model. The results suggest that, in general mutual fund managers in Ghana are not able to effectively select stocks and also are not able to predict both the magnitude and direction of future market returns. More specifically, all of the sample mutual fund managers attain significant negative selectivity coefficients and also most of them attain insignificant negative timing coefficients.

  16. Evaluation of funding gastroenterology research in Canada illustrates the beneficial role of partnerships

    Science.gov (United States)

    Sherman, Philip M; Hart, Kimberly Banks; Rose, Keeley; Bosompra, Kwadwo; Manuel, Christopher; Belanger, Paul; Daniels, Sandra; Sinclair, Paul; Vanner, Stephen; Buret, André G

    2013-01-01

    BACKGROUND: Funders of health research in Canada seek to determine how their funding programs impact research capacity and knowledge creation. OBJECTIVE: To evaluate the impact of a focused grants and award program that was cofunded by the Canadian Institutes of Health Research Institute of Nutrition, Metabolism and Diabetes, and the Canadian Association of Gastroenterology; and to measure the impact of the Program on the career paths of funded researchers and assess the outcomes of research supported through the Program. METHODS: A survey of the recipients of grants and awards from 2000 to 2008 was conducted in 2012. The CIHR Funding Decisions database was searched to determine subsequent funding; a bibliometric citation analysis of publications arising from the Program was performed. RESULTS: Of 160 grant and award recipients, 147 (92%) completed the survey. With >$17.4 million in research funding, support was provided for 131 fellowship awards, seven career transition awards, and 22 operating grants. More than three-quarters of grant and award recipients continue to work or train in a research-related position. Combined research outputs included 545 research articles, 130 review articles, 33 book chapters and 11 patents. Comparative analyses indicate that publications supported by the funding program had a greater impact than other Canadian and international comparators. CONCLUSIONS: Continuity in support of a long-term health research funding partnership strengthened the career development of gastroenterology researchers in Canada, and enhanced the creation and dissemination of new knowledge in the discipline. PMID:24340317

  17. Performance persistence in institutional investment management: The case of Chinese equity funds

    Directory of Open Access Journals (Sweden)

    Zia-ur-Rehman Rao

    2016-09-01

    Full Text Available This paper investigates the performance and persistence in performance of equity funds in China. We apply the capital asset pricing model (CAPM and the Carhart four-factor model to examine 520 equity funds for an eleven-year period with 39,449 observations. To investigate persistence, the entire sample is divided into ten portfolios (deciles on the basis of lagged one-year performance and then observed over the next 12 months. We find that equity funds in China outperform their benchmark market but do not find any evidence of persistence in the performance of equity funds. Top-performing (worst-performing funds do not continue to perform well (worse in the following year. Top-performing funds are younger and have lower expense ratios than the worst-performing funds. However, the size of the top-performing funds and the worst-performing funds show no significant difference. Our results suggest that past performance of equity funds is not predictive of future fund performance.

  18. Indicators measuring the performance of malaria programs supported by the global fund in Asia, progress and the way forward.

    Directory of Open Access Journals (Sweden)

    Jinkou Zhao

    Full Text Available INTRODUCTION: In 2010, the Global Fund provided more than 75% of external international financing for malaria control. The Global Fund uses performance based funding in the grants it finances. This paper analyses the indicators used to measure the performance of Global Fund supported malaria grants in Asia. METHODS: Indicators used in the performance frameworks for all Global Fund supported malaria grants in Asia were retrieved from grant database and grouped into impact, outcome, output and input categories and categorized by service delivery areas. Indicators of each group were compared over rounds. Indicators used in performance frameworks were compared with internationally adopted indicators included in the Monitoring and Evaluation Toolkit developed by the Global Fund and international technical agencies. RESULTS: Between 2002 and 2010, 1,434 indicators were included in the performance frameworks of the 48 malaria grants awarded in Asia, including 229 impact and 227 outcome indicators, 437 output and 541 input indicators, with an average of 29.9 indicators per grant. The proportion of impact and outcome indicators increased over rounds, with that of input indicators declining from 44.1% in Round 1 to 22.7% in Round 9. CONCLUSIONS: Input indicators, which have predominated the performance frameworks of the Global Fund supported malaria programs in Asia have declined between Rounds 1 and 9. However, increased alignment with internationally adopted indicators included in the Monitoring and Evaluation Toolkit is needed to improve the validity of reported results.

  19. Performance Funding Policy Effects on Community College Outcomes: Are Short-Term Certificates on the Rise?

    Science.gov (United States)

    Li, Amy Y.; Kennedy, Alec I.

    2018-01-01

    Objective: Performance funding (PF) policies allocate a portion of state funding to colleges based on student outcomes. This study is the first to account for policy type and design differences, and explores the impact of performance funding on three levels of credential completions: short-term certificates, medium-term certificates, and…

  20. Does the South African Pension Funds Adjudicator perform an ...

    African Journals Online (AJOL)

    HP27975994114

    the Mouton Committee argued that “a binding decision will have to be a legal decision ... ruling of the ombudsman could have binding effect where both (or all) parties to the .... the Promotion of Administrative Justice Act 3 of 2000 (PAJA) apply. .... in Orion Money Purchase Pension Fund (SA) v Pension Funds Adjudicator 47 ...

  1. Do Higher Fees Imply Better Performance? An Insight to Fee-performance Relationship in the US Mutual Fund Industry.

    OpenAIRE

    FAN, YI

    2008-01-01

    Recent studies propose that equity mutual fund managers generally do not have ability to generate abnormal returns to outperform the market, and their performance bear negative relationship with the expenses charged when investors invest in mutual funds. This study employs a data set including monthly returns from sixty equity mutual funds existing throughout the examined period from January 1998 to December 2007. These data are used to examine performance of actively managed mutual funds and...

  2. Examining the Performance of Indian Exchange Traded Funds (ETFs

    Directory of Open Access Journals (Sweden)

    Naman SETHI

    2016-11-01

    Full Text Available Exchange traded funds (ETFs are known to be a highly attractive mean of investment in today’s financial markets. The present study is an attempt to explain the risk and return features of Indian ETFs and their trading and expense characteristics. The performance of ETFs is measured and compared with their underlying indices. It is found that they underperformed the indices, the reasons being they load their investors with extra risk than their underlying indices. Further, it is found that tracking error is having a positive relationship with expenses and risk of ETFs. Interestingly, the average number of trades and the lagged return of previous day do not affect the volume of shares. The study uses daily closing prices, intraday high and low prices and the volume of the traded shares of 10 ETFs listed on the National Stock Exchang for the period 1st July, 2010 to 30th June, 2015. The non-included ETFs suffer from the restrictions of non-availability of historical prices for at least five years.

  3. Evaluation of the Electricity Saving Fund in Basel, Switzerland

    International Nuclear Information System (INIS)

    Iten, R.; Vettori, A.; Schmidt, N.; Vaterlaus, S.; Wild, J.

    2003-09-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of an evaluation made concerning the Electricity Saving Fund operated in Basel, Switzerland. The aims of the fund, which is based on the imposition of a steering levy on electricity consumption, are presented and discussed. It is noted that the political policies behind this promotional scheme differ greatly from those of other Swiss Cantons. This study examines the direct and indirect effects of the steering levy and the resulting bonus for energy-saving consumers and takes a look at possibilities for transferring the idea to other Swiss Cantons. Questions asked include the degree to which the aims were fulfilled, were negative side-effects noted, is the implementation efficient, can the know-how gained be transferred to other communities and Cantons and which general experience was gained in the application of steering levies. Details on the implementation of the Electricity Saving Bonus are presented and discussed. Results of a survey on the perception of the scheme both in the commercial and private sectors are discussed. Also, the results of evaluations made concerning the degree to which the scheme's aims were fulfilled and their usefulness from the national economics point of view are discussed. Suggestions for improvements are presented. The report is concluded with an a selection of annexes on the topics dealt with in the report

  4. Survival, Look-Ahead Bias and the Persistence in Hedge Fund Performance

    NARCIS (Netherlands)

    Baquero, G.; Ter Horst, J.R.; Verbeek, M.J.C.M.

    2002-01-01

    Hedge funds databases are typicall subject to high attrition rates because of fund termination and self-selection.Even when all funds are included up to their last available return, one cannot prevent that ex post conditioning biases affect standard estimates of performance persistence.In this paper

  5. Ambiguity Towards Multiple Historical Performance Information Signals: Evidence From Indonesian Open-Ended Mutual Fund Investors

    OpenAIRE

    Haris Pratama Loeis; Ruslan Prijadi

    2015-01-01

    This study focuses on the behavior of open-ended mutual fund investors when encountered with multiple information signals of mutual fund’s historical performance. The behavior of investors can be reflected on their decision to subscribe or redeem their funds from mutual funds. Moreover, we observe the presence of ambiguity within investors due to multiple information signals, and also their reaction towards it. Our finding shows that open-ended mutual fund investors do not only have sen...

  6. Performance of mutual equity funds in Brazil – A bootstrap analysis

    Directory of Open Access Journals (Sweden)

    Marco Antonio Laes

    2014-09-01

    Full Text Available This article reports a study on the performance of mutual equity funds in Brazil from January 2002 to August 2012. For the analyses, Carhart's four-factor model is used as the benchmark for performance, and bootstrap procedures are applied to separate skill from luck. The results show that returns of the best performers are more due to luck than skill of their managers. For the bottom ranked funds, on the contrary, there is statistical evidence that their poor performance is caused mainly by bad management, rather than by bad luck. It is also showed that the largest funds perform better than the small or middle-sized funds.

  7. Human Performance Evaluation System

    International Nuclear Information System (INIS)

    Hardwick, R.J. Jr.

    1985-01-01

    Operating nuclear power plants requires high standards of performance, extensive training and responsive management. Despite our best efforts inappropriate human actions do occur, but they can be managed. An extensive review of License Event Reports (LERs) was conducted which indicated continual inadequacy in human performance and in evaluation of root causes. Of some 31,000 LERs, about 5,000 or 16% were directly attributable to inappropriate actions. A recent analysis of 87 Significant Event Reports (issued by INPO in 1983) identified inappropriate actions as being the most frequent root cause (44% of the total). A more recent analysis of SERs issued in 1983 and 1984 indicate that 52% of the root causes were attributed to human performance. The Human Performance Evaluation System (HPES) is a comprehensive, coordinated utility/industry system for evaluating and reporting human performance situtations. HPES is a result of the realization that current reporting system provide limited treatment of human performance and rarely provide adequate information about root causes of inappropriate actions by individuals. The HPES was implemented to identify and eliminate root causes of inappropriate actions

  8. Leaders' experiences and perceptions implementing activity-based funding and pay-for-performance hospital funding models: A systematic review.

    Science.gov (United States)

    Baxter, Pamela E; Hewko, Sarah J; Pfaff, Kathryn A; Cleghorn, Laura; Cunningham, Barbara J; Elston, Dawn; Cummings, Greta G

    2015-08-01

    Providing cost-effective, accessible, high quality patient care is a challenge to governments and health care delivery systems across the globe. In response to this challenge, two types of hospital funding models have been widely implemented: (1) activity-based funding (ABF) and (2) pay-for-performance (P4P). Although health care leaders play a critical role in the implementation of these funding models, to date their perspectives have not been systematically examined. The purpose of this systematic review was to gain a better understanding of the experiences of health care leaders implementing hospital funding reforms within Organisation for Economic Cooperation and Development countries. We searched literature from 1982 to 2013 using: Medline, EMBASE, CINAHL, Academic Search Complete, Academic Search Elite, and Business Source Complete. Two independent reviewers screened titles, abstracts and full texts using predefined criteria. We included 2 mixed methods and 12 qualitative studies. Thematic analysis was used in synthesizing results. Five common themes and multiple subthemes emerged. Themes include: pre-requisites for success, perceived benefits, barriers/challenges, unintended consequences, and leader recommendations. Irrespective of which type of hospital funding reform was implemented, health care leaders described a complex process requiring the following: organizational commitment; adequate infrastructure; human, financial and information technology resources; change champions and a personal commitment to quality care. Crown Copyright © 2015. Published by Elsevier Ireland Ltd. All rights reserved.

  9. Radionuclide calibrators performance evaluation

    International Nuclear Information System (INIS)

    Mora Ramirez, E.; Zeledon Fonseca, P.; Jimenez Cordero, M.

    2008-01-01

    Radionuclide calibrators are used to estimate accurately activity prior to administration to a patient, so it is very important that this equipment meets its performance requirements. The purpose of this paper is to compare the commercially available 'Calicheck' (Calcorp. Inc), used to assess linearity, versus the well-known source decay method, and also to show our results after performing several recommended quality control tests. The parameters that we wanted to evaluate were carried on using the Capintec CRC-15R and CRC-15 β radionuclide calibrators. The evaluated tests were: high voltage, display, zero adjust, background, reproducibility, source constancy, accuracy, precision and linearity. The first six tests were evaluated on the daily practice, here we analyzed the 2007 recorded data; and the last three were evaluated once a year. During the daily evaluation both calibrators performance were satisfactory comparing with the manufacture's requirements. The accuracy test show result within the ± 10% allowed for a field instrument. Precision performance is within the ± 1 % allowed. On the other hand, the linearity test shows that using the source decay method the relative coefficient is 0.9998, for both equipment and using the Calicheck the relative coefficient is 0.997. However, looking the percentage of error, during the 'Calicheck' test, its range goes from 0.0 % up to -25.35%, and using the source decay method, the range goes from 0.0 % up to -31.05 %, taking into account both instruments. Checking the 'Calicheck' results we can see that the results varying randomly, but using the source decay method the percentage of error increase as the source activity decrease. We conclude that both devices meet its manufactures requirements, in the case of the linearity using the decay method, decreasing the activity source, increasing the percentage of error, this may happen because of the equipment age. (author)

  10. Sources of Funding and Academic Performance in Economics Principles Courses

    Science.gov (United States)

    Faulk, Dagney; Srinivasan, Arun K.; Bingham, Jon

    2012-01-01

    The authors examine two factors that may affect student achievement in economics principles courses: working for pay and the primary source of funds (employer tuition reimbursement, loans, scholarships, financial aid, self-financing, parental transfers, other) used to pay for college for a sample of students in economics principles classes at a…

  11. The Relation between Past Flows and Future Performance: Simple Investment Strategies in the Mutual Fund Sector

    Directory of Open Access Journals (Sweden)

    Martin Rohleder

    2015-02-01

    Full Text Available In the mutual fund literature, it is an established fact that investors “chase past performance”. However, the opposite impact of flows on performance is widely discussed. Mainly, liquidity costs are held responsible for short-term erosion of performance, while high inflows enhance performance over longer horizons. I investigate this relation for various groups of equity, bond, and money market funds and find significant outperformance in high inflow funds over several months, especially for specific bond fund groups. In addition, I test whether this information can be exploited using simple investment strategies but find that the abnormal returns are too low to offset associated costs.

  12. Supercapacitors Performance Evaluation

    OpenAIRE

    Zhang, S; Pan, N

    2015-01-01

    The performance of a supercapacitor can be characterized by a series of key parameters, including the cell capacitance, operating voltage, equivalent series resistance, power density, energy density, and time constant. To accurately measure these parameters, a variety of methods have been proposed and are used in academia and industry. As a result, some confusion has been caused due to the inconsistencies between different evaluation methods and practices. Such confusion hinders effective com...

  13. Comparison of the performance of Islamic, Sri and green mutual funds

    OpenAIRE

    Paradinovic, Ivana

    2017-01-01

    This paper measures and compares performance of Islamic, SRI and Green mutual equity funds worldwide in the period from 1 January 2001 to 31 December 2015. The sample consists of 611 mutual equity funds and their performance was assessed by using traditional risk-adjusted measures, namely Sharpe ratio, Modified Sharpe Ratio, Adjusted Sharpe Ratio, Treynor measure, Information ratio and Jensen’s alpha. The main findings show that Green mutual equity funds, on average, outperform both SRI and I...

  14. Commercialization issues and funding opportunities for high-performance optoelectronic computing modules

    Science.gov (United States)

    Hessenbruch, John M.; Guilfoyle, Peter S.

    1997-01-01

    Low power, optoelectronic integrated circuits are being developed for high speed switching and data processing applications. These high performance optoelectronic computing modules consist of three primary components: vertical cavity surface emitting lasers, diffractive optical interconnect elements, and detector/amplifier/laser driver arrays. Following the design and fabrication of an HPOC module prototype, selected commercial funding sources will be evaluated to support a product development stage. These include the formation of a strategic alliance with one or more microprocessor or telecommunications vendors, and/or equity investment from one or more venture capital firms.

  15. Survival, Look-Ahead Bias and the Persistence in Hedge Fund Performance

    NARCIS (Netherlands)

    G. Baquero; J.R. ter Horst (Jenke); M.J.C.M. Verbeek (Marno)

    2005-01-01

    textabstractWe analyze the performance persistence in hedge funds taking into account look-ahead bias (multi-period sampling bias). We model liquidation of hedge funds by analyzing how it depends upon historical performance. Next, we use a weighting procedure that eliminates look-ahead bias in

  16. An Analysis of Performance-Based Funding Policies and Recommendations for the Florida College System

    Science.gov (United States)

    Balog, Scott E.

    2016-01-01

    Nearly 30 states have adopted or are transitioning to performance-based funding programs for community colleges that allocate funding based on institutional performance according to defined metrics. While embraced by state lawmakers and promoted by outside advocacy groups as a method to improve student outcomes, enhance accountability and ensure…

  17. Popular but Unstable: Explaining Why State Performance Funding Systems in the United States Often Do Not Persist

    Science.gov (United States)

    Dougherty, Kevin J.; Natow, Rebecca S.; Vega, Blanca E.

    2012-01-01

    Background/Context: Performance funding in higher education ties government funding to institutional performance on indicators such as retention, graduation, and job placement. Performance funding can also be found in state K-12 funding policies and higher education quality assurance programs abroad. One of the puzzles about higher education…

  18. Trust Fund Support for Development : An Evaluation of the World Bank's Trust Fund Portfolio

    OpenAIRE

    Independent Evaluation Group

    2011-01-01

    In the changing global environment of development cooperation, trust funds have emerged as a significant pillar of the global aid architecture, used to address limitations in bilateral aid and fill perceived gaps in the operations of existing multilateral institutions. They currently account for about 11 percent of official development assistance (ODA), and they finance a substantial part ...

  19. A STUDY ON THE RISK-ADJUSTED PERFORMANCE OF MUTUAL FUNDS INDUSTRY IN INDIA

    Directory of Open Access Journals (Sweden)

    Shivangi Agarwal

    2017-04-01

    Full Text Available Investing through mutual funds has gained interest in recent years as it offers optimal risk adjusted returns to investors. The Indian market is no exception and has witnessed a multifold growth in mutual funds over the years. As of 2016, the Indian market is crowded with over two thousand mutual fund schemes, each promising higher returns compared to their peers. This comes as a challenge for an ordinary investor to select the best portfolio to invest making it critical to analyse the performance of these funds. While understanding and analysing the historical performance of mutual funds do not guarantee future performance, however, this may give an idea of how the fund is likely to perform in different market conditions. In this research we address multiple research issues. These include measuring the performance of selected mutual schemes on the basis of risk and return and compare the performance of these selected schemes with benchmark index to see whether the scheme is outperforming or underperforming the benchmark. We also rank funds on the basis of performance and suggest strategies to invest in a mutual fund and therefore, our findings have significant relevance for investing public.

  20. PERFORMANCE OF TRADITIONAL INVESTMENT FUNDS AND ETFs LINKED TO SUSTAINABILITY AND CORPORATE GOVERNANCE

    Directory of Open Access Journals (Sweden)

    Elisângela de Magalhães Soares

    2015-12-01

    Full Text Available The objective of this study is to compare the performance of traditional investment funds and Exchange traded funds (ETFs, which benchmarks are Ibovespa, IBrX and Sustainability Indexes, as well as free funds using daily frequency data covering the period from 20 June 2012 to 31 October 2013. The survey is descriptive with a quantitative approach. Analyses were performed using the Capital Asset Pricing Model (CAPM and the Sharpe Ratio (1966. In order to obtain an index of ETFs linked to sustainability, the nomenclature and prospectus of each ETF were analyzed to see which ones were linked to this sector. Then the average return of these funds was calculated, weighted by its Net Asset Value, generating a series of the same period and frequency of others. The results show that the funds linked to sustainability and corporate governance indices are one of the best investment options, surpassed only by free funds.

  1. Performance of sustainable investments : a comparison of sustainable and conventional mutual funds in emerging markets

    OpenAIRE

    Christensson, Lars Stefan Bjerke; Skagestad, Ole Jakob

    2017-01-01

    This thesis compares the performance and risk factor exposure of sustainable and conventional mutual funds in emerging markets from January 2012 to July 2017. We use the latest sustainability ratings provided by Morningstar to define sustainable funds, and apply CAPM, Fama-French and Carhart models to control for the market, size, book-to-market and momentum factors. Additionally, we add a dummy to compare the risk-adjusted returns of the funds, and examine if the difference is...

  2. Design and Construction for Community Health Service Precision Fund Appropriation System Based on Performance Management.

    Science.gov (United States)

    Gao, Xing; He, Yao; Hu, Hongpu

    2017-01-01

    Allowing for the differences in economy development, informatization degree and characteristic of population served and so on among different community health service organizations, community health service precision fund appropriation system based on performance management is designed, which can provide support for the government to appropriate financial funds scientifically and rationally for primary care. The system has the characteristic of flexibility and practicability, in which there are five subsystems including data acquisition, parameter setting, fund appropriation, statistical analysis system and user management.

  3. The structure, regulation, and performance of pension funds in nine industrial countries

    OpenAIRE

    Davis, E.P.; DEC

    1993-01-01

    The author offers an overview of issues relating to the development of funded pension schemes in industrial countries. The analysis applies the economic theory of pension regulation to experience with the structure, regulation, and performance of funds in nine countries - Canada, Denmark, Germany, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the United States - seeking to shed light on the finance of old age security in developing countries and the reform of pension funds ...

  4. Criteria for performance evaluation

    Directory of Open Access Journals (Sweden)

    David J. Weiss

    2009-03-01

    Full Text Available Using a cognitive task (mental calculation and a perceptual-motor task (stylized golf putting, we examined differential proficiency using the CWS index and several other quantitative measures of performance. The CWS index (Weiss and Shanteau, 2003 is a coherence criterion that looks only at internal properties of the data without incorporating an external standard. In Experiment 1, college students (n = 20 carried out 2- and 3-digit addition and multiplication problems under time pressure. In Experiment 2, experienced golfers (n = 12, also college students, putted toward a target from nine different locations. Within each experiment, we analyzed the same responses using different methods. For the arithmetic tasks, accuracy information (mean absolute deviation from the correct answer, MAD using a coherence criterion was available; for golf, accuracy information using a correspondence criterion (mean deviation from the target, also MAD was available. We ranked the performances of the participants according to each measure, then compared the orders using Spearman's rextsubscript{s}. For mental calculation, the CWS order correlated moderately (rextsubscript{s} =.46 with that of MAD. However, a different coherence criterion, degree of model fit, did not correlate with either CWS or accuracy. For putting, the ranking generated by CWS correlated .68 with that generated by MAD. Consensual answers were also available for both experiments, and the rankings they generated correlated highly with those of MAD. The coherence vs. correspondence distinction did not map well onto criteria for performance evaluation.

  5. [Evaluating the impact of the United Nations funding act].

    Science.gov (United States)

    1987-01-01

    Representatives of the principal donors supporting population assistance in India are concerned about the impact of the cuts in funds given by the US to the United Nations Fund for Population Activities (UNFPA). The suppression of US aid to the UNFPA will definitely affect the largest programs, including those in South Asia. India is the country receiving the most assistance from the UNFPA. The UNFPA contributed 63 million dollars for the current 5 year plan which began in April 1985. US spokesmen stated that UNFPA funding was cut off because of that organization's support for coercive family planning programs in China.

  6. Mid-term evaluation of the Climate Change Action Fund: Science, Impacts and Adaptation (SIA) block

    International Nuclear Information System (INIS)

    2001-11-01

    In 1998, the Climate Change Action Fund was established by the Government of Canada. Its budget represented 150 million dollars over a three year period, and was an additional 625 million dollars in the federal budget of February 2000 was allocated for climate change initiatives, of which 150 million dollars were earmarked over a three year period to the Climate Change Action Fund. To provide input for Treasury Board Submissions looking for funding approval in the future, it was necessary to conduct a mid-term evaluation focused on program performance to date. The period covered by the evaluation was September 2000 to the end of January 2001. This report examined the performance of the Science, Impact and Adaptation Block (SIA). Based on a series of interviews with representatives of Block managers, Technical and Executive Policy Committees, successful applicants, unsuccessful applicants and peer reviewers, as well as a review of the documentation maintained by SIA, it addressed the following issues: Block relevance, progress/success to date, and effectiveness in meeting the objectives. It was determined that the objectives displayed relevance to the climate change agenda of the federal government, progress to date was considered satisfactory, and most of the objectives should be met in a timely fashion. A summary of the findings was included in this document along with recommendations pertaining to the findings. 3 tabs., 1 fig

  7. Mid-term evaluation of the Climate Change Action Fund : foundation analysis block

    International Nuclear Information System (INIS)

    2001-11-01

    From September 2000 to January 20, 2001, an evaluation was conducted into the Climate Change Action Fund (CCAF). Established in February 1998 by the Government of Canada, the CCAF was intended to help Canada meet its commitments under the Kyoto Protocol for the reduction of greenhouse gas (GHG) emissions. Over three years, the CCAF Program provided 150 million dollars, and the Foundation Block received 34 million dollars from these funds. In order to lay the groundwork for a National Implementation Strategy along with the provinces, industry and shareholders, the Foundation Analysis Block supported several initiatives such as the Issue Tables process, the development of analysis and modelling tools to be used for options, examination of cross-cutting options, and the required mechanisms within the department and with other stakeholders. The performance to date was evaluated and the results described in this report. It was concluded that the objectives were met, that progress was made and was well managed overall. Funding was deemed sufficient. Some of the recommendations made included: setting realistic time targets that take into account the complexity of deriving common sectoral/cross-sectoral modelling results, performance targets and ways for monitoring the progress must be established in the case of all major activities. 4 tabs., 1 fig

  8. MUTUAL FUND PERFORMANCE ANALYSIS PRE AND POST FINANCIAL CRISIS OF 2008

    OpenAIRE

    Asadov, Elvin; Dinger, Tim

    2017-01-01

    Using a sample of 955 mutual funds, free of survivorship bias, we analyse the performance of diversified equity mutual funds in the United States of America that invest solely in stocks listed on the U.S. stock exchanges before and after the financial crisis of 2008. We categorize all mutual funds into their respective strategy including value, growth, and blend in order to see any relationship with respect to their strategic focus.We find that mutual funds were not able to provide a positive...

  9. Stock Market Performance and Pension Fund Investment Policy: Rebalancing, Free Float, or Market Timing

    NARCIS (Netherlands)

    Bikker, J.A.; Broeders, D.W.G.A; de Dreu, J.

    2007-01-01

    This paper is the first that examines the impact of stock market performance on the investment policy of pension funds. We find that stock market prices influence the asset allocation of Dutch pension funds in two ways. In the short term, outperformance of equities over bonds and other investment

  10. A method for evaluating the funding of components of natural resource and conservation projects

    Energy Technology Data Exchange (ETDEWEB)

    Wellington, John F., E-mail: welling@ipfw.edu [Indiana University – Purdue University Fort Wayne (IPFW), Doermer School of Business, 203 Stonegate Drive Erie, PA 16505 (United States); Lewis, Stephen A., E-mail: lewis.sa07@gmail.com [Mongrel Works, LLC., Columbus, OH 43209 (United States)

    2016-02-15

    Many public and private entities such as government agencies and private foundations have missions related to the improvement, protection, and sustainability of the environment. In pursuit of their missions, they fund projects with related outcomes. Typically, the funding scene consists of scarce funding dollars for the many project requests. In light of funding limitations and funder's search for innovative funding schemes, a method to support the allocation of scarce dollars among project components is presented. The proposed scheme has similarities to methods in the project selection literature but differs in its focus on project components and its connection to and enumeration of the universe of funding possibilities. The value of having access to the universe is demonstrated with illustrations. The presentation includes Excel implementations that should appeal to a broad spectrum of project evaluators and reviewers. Access to the space of funding possibilities facilitates a rich analysis of funding alternatives. - Highlights: • Method is given for allocating scarce funding dollars among competing projects. • Allocations are made to fund parts of projects • Proposed method provides access to the universe of funding possibilities. • Proposed method facilitates a rich analysis of funding possibilities. • Excel spreadsheet implementations are provided.

  11. A method for evaluating the funding of components of natural resource and conservation projects

    International Nuclear Information System (INIS)

    Wellington, John F.; Lewis, Stephen A.

    2016-01-01

    Many public and private entities such as government agencies and private foundations have missions related to the improvement, protection, and sustainability of the environment. In pursuit of their missions, they fund projects with related outcomes. Typically, the funding scene consists of scarce funding dollars for the many project requests. In light of funding limitations and funder's search for innovative funding schemes, a method to support the allocation of scarce dollars among project components is presented. The proposed scheme has similarities to methods in the project selection literature but differs in its focus on project components and its connection to and enumeration of the universe of funding possibilities. The value of having access to the universe is demonstrated with illustrations. The presentation includes Excel implementations that should appeal to a broad spectrum of project evaluators and reviewers. Access to the space of funding possibilities facilitates a rich analysis of funding alternatives. - Highlights: • Method is given for allocating scarce funding dollars among competing projects. • Allocations are made to fund parts of projects • Proposed method provides access to the universe of funding possibilities. • Proposed method facilitates a rich analysis of funding possibilities. • Excel spreadsheet implementations are provided

  12. Proposed Performance-Based Metrics for the Future Funding of Graduate Medical Education: Starting the Conversation.

    Science.gov (United States)

    Caverzagie, Kelly J; Lane, Susan W; Sharma, Niraj; Donnelly, John; Jaeger, Jeffrey R; Laird-Fick, Heather; Moriarty, John P; Moyer, Darilyn V; Wallach, Sara L; Wardrop, Richard M; Steinmann, Alwin F

    2017-12-12

    Graduate medical education (GME) in the United States is financed by contributions from both federal and state entities that total over $15 billion annually. Within institutions, these funds are distributed with limited transparency to achieve ill-defined outcomes. To address this, the Institute of Medicine convened a committee on the governance and financing of GME to recommend finance reform that would promote a physician training system that meets society's current and future needs. The resulting report provided several recommendations regarding the oversight and mechanisms of GME funding, including implementation of performance-based GME payments, but did not provide specific details about the content and development of metrics for these payments. To initiate a national conversation about performance-based GME funding, the authors asked: What should GME be held accountable for in exchange for public funding? In answer to this question, the authors propose 17 potential performance-based metrics for GME funding that could inform future funding decisions. Eight of the metrics are described as exemplars to add context and to help readers obtain a deeper understanding of the inherent complexities of performance-based GME funding. The authors also describe considerations and precautions for metric implementation.

  13. Persistent Performance of Fund Managers: An Analysis of Selection and Timing Skills

    Directory of Open Access Journals (Sweden)

    Bilal Ahmad Pandow

    2017-11-01

    Full Text Available The persistence in manager’s ability to select stocks and to time risk factors is a vital issue for accessing the performance of any asset management company. The fund manager who comes out successful today, whether the same will be able to sustain the performance in the future is a matter of concern to the investors and other stake holders. More than the stock picking ability of fund managers, one would be interested in knowing whether there is consistency in selectivity and timing performance or not. If a fund manager is able to deliver better performance consistently i.e. quarter-after-quarter or year-after-year, then the mangers’ performance in selecting the right type of stocks for the portfolio would be considered satisfactory. This paper has attempted to analyze the persistence in both stock selection and timing performance of mutual fund managers in India through Henriksson & Morton; Jenson, and Fama’s model over a period of five years. It is found that the fund managers present persistence in selection skills however, the sample funds haven’t shown progressive timing skills in Indian context.

  14. Performance measurement of the gas tax and public transit funds : final report

    International Nuclear Information System (INIS)

    2007-01-01

    Federal funding for the gas tax fund and public transit fund are provided through Infrastructure Canada for municipal infrastructure across Canada in a broad range of municipal service projects. In order to identify appropriate outcomes that would meet reporting requirements for the gas tax fund and public transit fund, this report outlined a performance measurement approach that would allow for the reporting of projects under both funds and provide a structured methodology for multiple year analysis of benefits. The report discussed the performance measures process review and outcomes approach logic model. It also provided an outline of information sourcing strategies including an overview of the project types and expenditures; information sourcing strategy; typical municipal information sources by project type; performance measurement framework assumptions and limitations; and modeling of outcomes from outputs. Conclusions and recommendations were also offered. It was concluded that based on a comprehensive review of ancillary benefits and outcomes of various historic funding programs, there are 3 foundational outcomes that should be considered to assess all initial program outcomes. These include cleaner air, cleaner water and reduced greenhouse gas emissions. tabs., figs

  15. Gender consequences of a national performance-based funding model

    DEFF Research Database (Denmark)

    Nielsen, Mathias Wullum

    2017-01-01

    -regarded’ and highly selective journals and book publishers, and 1 and 5 points for equivalent scientific contributions via ‘normal level’ channels. On the basis of bibliometric data, the study shows that the BRI considerably widens the existing gender gap in researcher performance, since men on average receive more......This article investigates the extent to which the Danish Bibliometric Research Indicator (BRI) reflects the performance of men and women differently. The model is based on a differentiated counting of peer-reviewed publications, awarding three and eight points for contributions to ‘well...... privileges collaborative research, which disadvantages women due to gender differences in collaborative network relations....

  16. REIT Momentum and the Performance of Real Estate Mutual Funds

    NARCIS (Netherlands)

    J. Derwall (Jeroen); J.J. Huij (Joop); W.A. Marquering (Wessel)

    2009-01-01

    textabstractREITs exhibit a strong and prevalent momentum effect that is not captured by conventional factor models. This REIT momentum anomaly hampers proper judgments about the performance of actively managed REIT portfolios. In contrast, a REIT momentum factor adds incremental explanatory power

  17. TEACHER PERFORMANCE EVALUATION

    Directory of Open Access Journals (Sweden)

    Guadalupe Iván Martínez-Chairez

    2015-07-01

    Full Text Available This research report comes from a study that was developed during the school years 2013-2014, 2014-2015, in the southern state of Chihuahua central region, in the education sector 25 consisting of five school zones that provide services to Meoqui municipalities, Julimes and Delicias. The study is a mixed court, correlational comprehensive sequential procedure. Some of the results is that there is a correlation between the 578 years of service of teachers and the score assigned to students in teaching career, but there is no association between teacher performance and the context in which it works, in addition there is no relationship between the teacher performance and school performance of students on standardized tests. 2.4% of the representative sample presented an excellent teacher performance, 7.3% have a bad teacher performance, but it is noteworthy that 39% of teachers observed lies with good teaching performance.

  18. Investigating the Performance of Closed-end Funds in Mainland China.

    OpenAIRE

    Yu, Wenting

    2007-01-01

    A closed-end fund is a type of professionally managed investment company that provides investors lots of benefits unique in the investment world. As the largest emerging market in the world, China market attracts the focus of the global investors. Many foreign investors are especially interested in the China closed-end fund market because of the persistent large discounts in the past few years. This empirical research evaluated 23 Chinese closed-end funds during the period June 2003 to June 2...

  19. Mid-term evaluation of the Climate Change Action Fund : Public education and outreach (PEO) Block

    International Nuclear Information System (INIS)

    2001-11-01

    In February 1998, the Government of Canada established the Climate Change Action Fund (CCAF) to assist Canada in meeting its commitments under the Kyoto Protocol for the reduction of greenhouse gas emissions. The CCAF managed a budget of 150 million dollars over three years, and the Public Education and Outreach (PEO) Block was allocated 30 million dollars of that total for its operations. Its mandate was to increase public awareness and understanding on the topic of climate change, as well as providing the required information to effect reductions in the emissions of greenhouse gases and adapt to climate change. An evaluation into this program was conducted, and it covered the period September 2000 to January 20, 2001. To date, 152 projects have been approved, which represents an investment of approximately 17.5 million dollars. Approximately 6 million dollars have been spent on the awareness component, while government communication activities used approximately 3.1 million dollars. Staff and project management fees in support of the program account for the remaining funds. This report addressed the performance to date in meeting the objectives, and also included recommendations for improved effectiveness. PEO files and records, a report entitled Interim review of the Climate Change Action Fund PEO Program, interviews with Departmental representatives, and interviews with external stakeholder groups formed the basis for the findings and recommendations. It was determined that future direction represents the most critical issue facing the PEO block. 1 tab

  20. The Dynamics of the Impact of Past Performance on Mutual Fund Flows

    NARCIS (Netherlands)

    Goriaev, A.P.; Nijman, T.E.; Werker, B.J.M.

    2002-01-01

    This study reconsiders the determinants of flows into US growth funds, focusing in particular on the dynamics of the impact of past performance on flows.We model the flow-performance relationship at the monthly frequency, allowing for dependence of the sensitivity of flows to past performance on

  1. Hanford Site performance summary -- EM funded programs, July 1995

    International Nuclear Information System (INIS)

    Schultz, E.A.

    1995-07-01

    Performance data for July 1995 reflects a 4% unfavorable schedule variance and is an improvement over June 1995. The majority of the behind schedule condition is attributed to EM-30, (Office of Waste Management). The majority of the EM-30 schedule variance is associated with the Tank Waste Remediation System (TWRS) Program. The TWRS schedule variance is attributed to the delay in obtaining key decision 0 (KD-0) for Project W-314, ''Tank Farm Restoration and Safe Operations'' and the Multi-Function Waste Tank Facility (MWTF) workscope still being a part of the baseline. Baseline Change Requests (BCRs) are in process rebaselining Project W-314 and deleting the MWTF from the TWRS baseline. Once the BCR's are approved and implemented, the overall schedule variance will be reduced to $15.0 million. Seventy-seven enforceable agreement milestones were scheduled FYTD. Seventy-one (92%) of the seventy-seven were completed on or ahead of schedule, two were completed late and four are delinquent. Performance data reflects a continued significant favorable cost variance of $124.3 million (10%). The cost variance is attributed to process improvements/efficiencies, elimination of low-value work, workforce reductions and is expected to continue for the remainder of this fiscal year. A portion of the cost variance is attributed to a delay in billings which should self-correct by fiscal year-end

  2. An Analysis of the Correlation between Size and Performance of Private Pension Funds

    Directory of Open Access Journals (Sweden)

    Vasile ROBU

    2011-03-01

    Full Text Available Using present performance measures, we find that inflation rate is barely covered by Romanian private pension funds strategies. The paper looks at effects of scale on performance. This issue is investigated empirically using data from Romanian private pension funds. We find results consistent with prior literature in that size, measured as total net assets, erodes performance. The highly regulated Romanian private pension environment gives rise to various interpretations for size detracting performance that do not sprout from the “asymmetric information” theory. We explain the empirical results as an effect of “perfect scaling”.

  3. Conditional selectivity performance of Indian mutual fund schemes: An empirical study

    Directory of Open Access Journals (Sweden)

    Subrata Roy

    2015-06-01

    Full Text Available The present study seeks to examine the stock-selection performance of the sample open-ended equity mutual fund schemes of Birla Sun Life Mutual Fund Company based on traditional and conditional performance measures. It is generally expected that inclusion of some relevant predetermined public information variables in the conditional CAPM provides better performance estimates as compared to the traditional measures. The study reports that after inclusion of conditioning public information variables, the selectivity performances of the schemes have dramatically improved relative to the traditional measure and also found that conditional measure is superior to traditional measure in statistical test.

  4. Ambiguity towards Multiple Historical Performance Information Signals: Evidence from Indonesian Open-Ended Mutual Fund Investors

    Directory of Open Access Journals (Sweden)

    Haris Pratama Loeis

    2015-10-01

    Full Text Available This study focuses on the behavior of open-ended mutual fund investors when encountered with multiple information signals of mutual fund’s historical performance. The behavior of investors can be reflected on their decision to subscribe or redeem their funds from mutual funds. Moreover, we observe the presence of ambiguity within investors due to multiple information signals, and also their reaction towards it. Our finding shows that open-ended mutual fund investors do not only have sensitivity towards past performance information signals, but also have additional sensitivity towards the ambiguity of multiple information signals. Because of the presence of ambiguity, investors give more consideration to negative information signals and the worst information signal in their investment decisions. Normal 0 false false false EN-US X-NONE X-NONE

  5. The Impact of Portfolio Disclosure on Hedge Fund Performance, Fees and Flows

    OpenAIRE

    Zhen Shi

    2011-01-01

    This study investigates the impact of portfolio disclosure on hedge fund performance. Using a regression discontinuity design, I investigate the effect of the disclosure requirements that take effect when an investment company's assets exceed $100 million; when that occurs, a fund is required by the U.S. Securities and Exchange Commission to submit form 13F disclosing its portfolio holdings. Consistent with the argument that portfolio disclosure reveals 'trade secrets' and also raises front r...

  6. Instrument performance evaluation

    International Nuclear Information System (INIS)

    Swinth, K.L.

    1993-03-01

    Deficiencies exist in both the performance and the quality of health physics instruments. Recognizing the implications of such deficiencies for the protection of workers and the public, in the early 1980s the DOE and the NRC encouraged the development of a performance standard and established a program to test a series of instruments against criteria in the standard. The purpose of the testing was to establish the practicality of the criteria in the standard, to determine the performance of a cross section of available instruments, and to establish a testing capability. Over 100 instruments were tested, resulting in a practical standard and an understanding of the deficiencies in available instruments. In parallel with the instrument testing, a value-impact study clearly established the benefits of implementing a formal testing program. An ad hoc committee also met several times to establish recommendations for the voluntary implementation of a testing program based on the studies and the performance standard. For several reasons, a formal program did not materialize. Ongoing tests and studies have supported the development of specific instruments and have helped specific clients understand the performance of their instruments. The purpose of this presentation is to trace the history of instrument testing to date and suggest the benefits of a centralized formal program

  7. Evaluation Inquiry in Donor Funded Programmes in Northern Ghana ...

    African Journals Online (AJOL)

    An evaluation inquiry has been noted to have a significant influence on whether the evaluation outcomes are used or not. However, only limited studies have examined evaluation inquiry and its implication on the use of evaluation in Ghana. This study therefore seeks to contribute to knowledge on evaluation inquiry and the ...

  8. HLA RTI performance evaluation

    CSIR Research Space (South Africa)

    Malinga, L

    2009-07-01

    Full Text Available size of the UDP packet of the network, namely 64 KB, when using the best effort mode. The performance analysis task of the different RTIs was undertaken for two reasons. The first is to re-establish a High Level Architecture (HLA) in our Research... exchange messages over the network with the RTI Gateway process, via TCP sockets or UDP in order to realise the services associated with the RTI. The allocation of CPU resources to the federate and the RTIA process is exclusively managed...

  9. The Massachusetts Community College Performance-Based Funding Formula: A New Model for New England?

    Science.gov (United States)

    Salomon-Fernandez, Yves

    2014-01-01

    The Massachusetts community college system is entering a second year with funding for each of its 15 schools determined using a new performance-based formula. Under the new model, 50% of each college's allocation is based on performance on metrics related to enrollment and student success, with added incentives for "at-risk" students…

  10. Grading the Metrics: Performance-Based Funding in the Florida State University System

    Science.gov (United States)

    Cornelius, Luke M.; Cavanaugh, Terence W.

    2016-01-01

    A policy analysis of Florida's 10-factor Performance-Based Funding system for state universities. The focus of the article is on the system of performance metrics developed by the state Board of Governors and their impact on institutions and their missions. The paper also discusses problems and issues with the metrics, their ongoing evolution, and…

  11. Japanese Mutual Funds before and after the Crisis Outburst: A Style- and Performance-Analysis

    Directory of Open Access Journals (Sweden)

    Stephanos Papadamou

    2017-03-01

    Full Text Available This paper investigates how mutual funds performed in Japan before and after the 2008 outburst of the global financial crisis, that is during the extension of an extraordinary unconventional monetary policy by the Bank of Japan. Style and performance analyses are employed in order to investigate whether active or passive management has been affected by unconventional times and to what extent. Evidence indicates that in four out of eight funds, asset selection presents a significant contribution to returns. The Selection Sharpe Ratios for sectoral and style analyses exhibit positive values added per unit of risk due to active management for the majority of our funds in the pre-Lehman default period. Nevertheless, none of them presents statistical significance according to the t-statistic. Moreover, over the post-Lehman default, only two out of eight funds achieved lower volatility levels and higher returns due to active management. A style drift to big capitalization stocks with low values of book to market ratio is to be held responsible for the outperformance. Overall, our findings imply that active management in a monetary easing environment does not add significant value to the mutual fund performance.

  12. Evaluation of the Electricity Saving Fund in Basel, Switzerland; Evaluation des Stromsparfonds Basel

    Energy Technology Data Exchange (ETDEWEB)

    Iten, R.; Vettori, A.; Schmidt, N. [Infras, Zuerich (Switzerland); Vaterlaus, S.; Wild, J. [Plaut (Schweiz) Consulting AG, Bern (Switzerland)

    2003-09-15

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of an evaluation made concerning the Electricity Saving Fund operated in Basel, Switzerland. The aims of the fund, which is based on the imposition of a steering levy on electricity consumption, are presented and discussed. It is noted that the political policies behind this promotional scheme differ greatly from those of other Swiss Cantons. This study examines the direct and indirect effects of the steering levy and the resulting bonus for energy-saving consumers and takes a look at possibilities for transferring the idea to other Swiss Cantons. Questions asked include the degree to which the aims were fulfilled, were negative side-effects noted, is the implementation efficient, can the know-how gained be transferred to other communities and Cantons and which general experience was gained in the application of steering levies. Details on the implementation of the Electricity Saving Bonus are presented and discussed. Results of a survey on the perception of the scheme both in the commercial and private sectors are discussed. Also, the results of evaluations made concerning the degree to which the scheme's aims were fulfilled and their usefulness from the national economics point of view are discussed. Suggestions for improvements are presented. The report is concluded with an a selection of annexes on the topics dealt with in the report

  13. Evaluation of the Electricity Saving Fund in Basel, Switzerland; Evaluation des Stromsparfonds Basel

    Energy Technology Data Exchange (ETDEWEB)

    Iten, R; Vettori, A; Schmidt, N [Infras, Zuerich (Switzerland); Vaterlaus, S; Wild, J [Plaut (Schweiz) Consulting AG, Bern (Switzerland)

    2003-09-15

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of an evaluation made concerning the Electricity Saving Fund operated in Basel, Switzerland. The aims of the fund, which is based on the imposition of a steering levy on electricity consumption, are presented and discussed. It is noted that the political policies behind this promotional scheme differ greatly from those of other Swiss Cantons. This study examines the direct and indirect effects of the steering levy and the resulting bonus for energy-saving consumers and takes a look at possibilities for transferring the idea to other Swiss Cantons. Questions asked include the degree to which the aims were fulfilled, were negative side-effects noted, is the implementation efficient, can the know-how gained be transferred to other communities and Cantons and which general experience was gained in the application of steering levies. Details on the implementation of the Electricity Saving Bonus are presented and discussed. Results of a survey on the perception of the scheme both in the commercial and private sectors are discussed. Also, the results of evaluations made concerning the degree to which the scheme's aims were fulfilled and their usefulness from the national economics point of view are discussed. Suggestions for improvements are presented. The report is concluded with an a selection of annexes on the topics dealt with in the report

  14. Risk management, financial evaluation and funding for wastewater and stormwater reuse projects.

    Science.gov (United States)

    Furlong, Casey; De Silva, Saman; Gan, Kein; Guthrie, Lachlan; Considine, Robert

    2017-04-15

    This paper has considered risk management, financial evaluation and funding in seven Australian wastewater and stormwater reuse projects. From the investigated case studies it can be seen that responsible parties have generally been well equipped to identify potential risks. In relation to financial evaluation methods some serious discrepancies, such as time periods for analysis, and how stormwater benefits are valued, have been identified. Most of the projects have required external, often National Government, funding to proceed. As National funding is likely to become less common in the future, future reuse projects may need to be funded internally by the water industry. In order to enable this the authors propose that the industry requires (1) a standard project evaluation process, and (2) an infrastructure funders' forum (or committee) with representation from both utilities and regulators, in order to compare and prioritise future reuse projects against each other. Copyright © 2017 Elsevier Ltd. All rights reserved.

  15. Management and Use of Director, Operational Test and Evaluation Funds

    National Research Council Canada - National Science Library

    2000-01-01

    .... The reorganization disestablished the functions of the Director, Test, Systems Engineering, and Evaluation, within the Office of Under Secretary of Defense for Acquisition, Technology, and Logistics...

  16. Evaluating Nonclinical Performance of the Academic Pathologist

    Directory of Open Access Journals (Sweden)

    Austin Blackburn Wiles MD

    2018-02-01

    Full Text Available Academic pathologists perform clinical duties, as well as valuable nonclinical activities. Nonclinical activities may consist of research, teaching, and administrative management among many other important tasks. While clinical duties have many clear metrics to measure productivity, like the relative value units of Medicare reimbursement, nonclinical performance is often difficult to measure. Despite the difficulty of evaluating nonclinical activities, nonclinical productivity is used to determine promotion, funding, and inform professional evaluations of performance. In order to better evaluate the important nonclinical performance of academic pathologists, we present an evaluation system for leadership use. This system uses a Microsoft Excel workbook to provide academic pathologist respondents and reviewing leadership a transparent, easy-to-complete system that is both flexible and scalable. This system provides real-time feedback to academic pathologist respondents and a clear executive summary that allows for focused guidance of the respondent. This system may be adapted to fit practices of varying size, measure performance differently based on years of experience, and can work with many different institutional values.

  17. The Impact of Hedge Fund Activism on Target Firm Performance, Executive Compensation and Executive Wealth

    Directory of Open Access Journals (Sweden)

    Andrew Carrothers

    2017-10-01

    Full Text Available This paper examines the relationship between hedge fund activism and target firm performance, executive compensation, and executive wealth. It introduces a theoretical framework that describes the activism process as a sequence of discrete decisions. The methodology uses regression analysis on a matched sample based on firm size, industry, and market-to-book ratio. All regressions control for industry and year fixed effects. Schedule 13D Securities and Exchange Commission (SEC filings are the source for the statistical sample of hedge fund target firms. I supplement that data with target firm financial, operating, and share price information from the CRSP-COMPUSTAT merged database. Activist hedge funds target undervalued or underperforming firms with high profitability and cash flows. They do not avoid firms with powerful CEOs. Leverage, executive compensation, pay for performance and CEO turnover increase at target firms after the arrival of the activist hedge fund. Target firm executives’ wealth is more sensitive to changes in share price after hedge fund activism events suggesting that the executive team experiences changes to their compensation structure that provides incentive to take action to improve returns to shareholders. The top executives reap rewards for increasing firm value but not for increased risk taking.

  18. Organizational characteristics, financial performance measures, and funding sources of faith based organizations.

    Science.gov (United States)

    Lampkin, Lynne; Raghavan, Kamala

    2008-01-01

    This study examined the impact of organizational characteristics and financial performance measures of faith based organizations (FBOS) in Pennsylvania and Ohio on the decisions of the funding sources. Organizational characteristics of size, age, and type of service, and financial performance measures such as expense, liquidity, and solvency ratios were gathered from the data on IRS form 990 for 97 FBOS for the period of 1995 to 2004. The study found that the 1996 Charitable Choice provisions and the 2001 Office of Faith-Based and Community Initiatives have led to increased government funding for FBOS. The results showed that government funding of FBOS is affected positively by age of the FBO, and negatively by its size. For smaller FBOS, savings ratio had a negative relationship to government funding and a positive relationship to direct public support. For social service FBOS government funding was positively affected by age and negatively affected by size and debt ratio, while days-cash-on-hand had a negative impact on direct public support. All of the above relationships were statistically significant.

  19. Dry Process Fuel Performance Evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Myung Seung; Song, K. C.; Moon, J. S. and others

    2005-04-15

    The objective of the project is to establish the performance evaluation system of DUPIC fuel during the Phase II R and D. In order to fulfil this objectives, irradiation test of DUPIC fuel was carried out in HANARO using the non-instrumented and SPND-instrumented rig. Also, the analysis on the in-reactor behavior analysis of DUPIC fuel, out-pile test using simulated DUPIC fuel as well as performance and integrity assessment in a commercial reactor were performed during this Phase. The R and D results of the Phase II are summarized as follows : - Performance evaluation of DUPIC fuel via irradiation test in HANARO - Post irradiation examination of irradiated fuel and performance analysis - Development of DUPIC fuel performance code (modified ELESTRES) considering material properties of DUPIC fuel - Irradiation behavior and integrity assessment under the design power envelope of DUPIC fuel - Foundamental technology development of thermal/mechanical performance evaluation using ANSYS (FEM package)

  20. Dry Process Fuel Performance Evaluation

    International Nuclear Information System (INIS)

    Yang, Myung Seung; Song, K. C.; Moon, J. S. and others

    2005-04-01

    The objective of the project is to establish the performance evaluation system of DUPIC fuel during the Phase II R and D. In order to fulfil this objectives, irradiation test of DUPIC fuel was carried out in HANARO using the non-instrumented and SPND-instrumented rig. Also, the analysis on the in-reactor behavior analysis of DUPIC fuel, out-pile test using simulated DUPIC fuel as well as performance and integrity assessment in a commercial reactor were performed during this Phase. The R and D results of the Phase II are summarized as follows : - Performance evaluation of DUPIC fuel via irradiation test in HANARO - Post irradiation examination of irradiated fuel and performance analysis - Development of DUPIC fuel performance code (modified ELESTRES) considering material properties of DUPIC fuel - Irradiation behavior and integrity assessment under the design power envelope of DUPIC fuel - Foundamental technology development of thermal/mechanical performance evaluation using ANSYS (FEM package)

  1. Management and Use of Director, Operational Test and Evaluation Funds

    National Research Council Canada - National Science Library

    2000-01-01

    ... and transferred a wide range of test and evaluation functions and resources, including the oversight of the test ranges and facilities, test investment, and sponsorship of many test related programs...

  2. Evaluation Inquiry in Donor Funded Programmes in Northern Ghana ...

    African Journals Online (AJOL)

    2016-05-01

    May 1, 2016 ... Department of Administration and Management Studies, Wa Campus, ... therefore seeks to contribute to knowledge on evaluation inquiry and the implications .... poverty reduction strategy approach by the World Bank and ...

  3. Government Performance and Results Act Reporting on Defense Working Capital Funds Net Operating Results

    National Research Council Canada - National Science Library

    2001-01-01

    .... The overall objective of the audit was to determine whether the net operating results for the activity groups of the Defense Working Capital Fund were consistently and accurately compiled. We also assessed internal controls to determine whether management complied with the Government Performance and Results Act of 1993.

  4. Does it pay to pay performance fees? Empirical evidence from Dutch pension funds

    NARCIS (Netherlands)

    Broeders, Dirk; van Oord, Arco; Rijsbergen, David

    2017-01-01

    We analyze the relation between investment returns and performance fees for 218 Dutch occupational pension funds with an average total of 985 billion euro in assets under management from 2012 to 2015. Our dataset is free from self-reporting biases and includes total return, excess return and

  5. Value-Added Funding: A Simple, Easy-to-Understand Model to Reward Performance. DO THIS!

    Science.gov (United States)

    Complete College America, 2012

    2012-01-01

    The mere mention of so-called "performance funding" makes college presidents and the higher education community nervous. It's an understandable reaction to a concept that too often results in an overly complex outcome. Still, the basic principle of "investing the limited resources states have in the results they want" is fundamentally sound--and…

  6. Performance Funding in Higher Education: Do Financial Incentives Impact College Completions?

    Science.gov (United States)

    Hillman, Nicholas W.; Tandberg, David A.; Gross, Jacob P. K.

    2014-01-01

    In 2000, the Pennsylvania State System of Higher Education introduced a performance-based funding model aimed at increasing degree productivity among the state's public colleges. This study examines how the new policy affected undergraduate degree completions. Using a difference-in-differences estimation strategy, results suggest the policy has…

  7. Building High-Performing and Improving Education Systems. Systems and Structures: Powers, Duties and Funding. Review

    Science.gov (United States)

    Slater, Liz

    2013-01-01

    This Review looks at the way high-performing and improving education systems share out power and responsibility. Resources--in the form of funding, capital investment or payment of salaries and other ongoing costs--are some of the main levers used to make policy happen, but are not a substitute for well thought-through and appropriate policy…

  8. Quasi-markets targets and the evaluation of nursing-home funding in the Valencian Region

    OpenAIRE

    Fuenmayor Fernández, Amadeo; Granell Pérez, Rafael; Tortosa Chuliá, María Ángeles

    2016-01-01

    Spanish long term care is in danger, therefore we propose a change in the nursing home funding system. We use as an example the extremely complex nursing home financing system of Valencian Region. In this region, there are many funding mechanisms: two types of public subsidies, two different accessibility plans, a voucher scheme and a cash benefit approach related to residential service. We evaluate these methods through the quasi-market theory. We find that these approaches have negative imp...

  9. Evaluation of KFB-funded research on transport systems

    Energy Technology Data Exchange (ETDEWEB)

    Boyce, D.; Knudsen, T.; Wegener, M.

    1999-09-01

    This report presents an evaluation of two research projects on transport systems, which have been financed fully or partially by KFB. The projects are: l. Systems analysis of transport markets at the Division of Transport and Location Analysis in the Department of Infrastructure and Planning of the Royal Institute of Technology, Stockholm; and 2. Planning, analysis and management in traffic networks - optimization models and methods at the Division of Optimization in the Department of Mathematics at Linkoeping University. The evaluation seeks to examine the scientific quality of the research and its relevance to the academic world and society. The two project teams prepared a self-assessment of their research activities and submitted copies of relevant publications. The evaluation committee visited both institutions and engaged the teams in discussions of their results and methodology. These visits occurred on June 1 and 2, 1999. This report is based on the self-assessments of the teams, the materials submitted and the meetings with the project teams. The evaluation and recommendations presented in the report are those of the reviewers and do not necessarily represent the views of KFB

  10. Performance Evaluations in Audit Firms

    DEFF Research Database (Denmark)

    Riise Johansen, Thomas; Christoffersen, Jeppe

    2017-01-01

    Previous research has only minimally examined the association between the behaviour and performance evaluations of individual auditors beyond the use of efficiency-focused evaluations. We examine the association between dysfunctional auditor behaviour and three evaluation foci: an efficiency focus......, a client focus and a quality focus. Our results, which are based on questionnaire responses from 196 auditors, demonstrate that an efficiency focus is not associated with dysfunctional behaviour. A client focus is found to be associated with dysfunctional behaviour. Finally, and perhaps most importantly......, our results show that it seems possible to limit dysfunctional behaviours through a quality focus in performance evaluations. Our results provide insights of use to practitioners and regulators on how performance evaluations may not only induce but also reduce dysfunctional auditor behaviours....

  11. The cost of homogeneity in life cycle pension funds: An explanation to demand's inelasticity of Mexican pension funds with a performance attribution test

    Directory of Open Access Journals (Sweden)

    Oscar V. De la Torre Torres

    2018-05-01

    Full Text Available In the present paper we study the lack of alpha generation in the main defined contribution pension funds (SIEFORES in Mexico and we compare the performance of each fund against the one of their life-cycle profile peers (SIEFORE type. As we expected, we found underperformance due to management costs and, more specifically, due to a homogeneous performance that we suggest it is induced by the actual investment policy. We also found that the observed betas have values closer to 1, especially in the case of the “all” SIEFORES system benchmark, a result that proves the observed homogeneous performance in all the SIEFORES. With our results we also prove that the return paid by Mexican Public pension funds is due to factors different than portfolio manager skills, supporting the proofs given in the related literature of pension fund demand inelasticity in Mexico, due to a noisy and uninformed pension fund selection. Keywords: Simulation modeling, Alpha generation, Pension funds, Informed decision, Portfolio selection, Competitiveness, Life cycle investment.

  12. Licensee Performance Evaluation: Phase II

    International Nuclear Information System (INIS)

    Chakoff, H.E.; Speaker, D.M.; Thompson, S.R.; Cohen, S.C.

    1979-08-01

    This report details work performed during the second phase of a two-phase contract to develop methodology for Licensee Performance Evaluation. The Phase I report, NUREG/CR-0110 details initial efforts on the contract. The model developed in Phase I was used to evaluate nine additional facilities for this report. Performance indicators from noncompliance data were also evaluated. Methodology was developed employing the noncompliance indicators and used for 12 case studies. It was found that licensee event report indicators could be more easily identified and utilized than noncompliance indicators based on presently available data systems. However, noncompliance data, appropriately related to cause, could provide real insight into why performance was what it was

  13. The Return-risk Performance of Selected Pension Fund in OECD with Focus on the Czech Pension System

    OpenAIRE

    Petr Kupčík; Pavel Gottwald

    2016-01-01

    This paper focuses on the measuring and comparing investment performance of pension funds in selected European countries. Comparison of the investment performance of pension funds is determined by means of the Sharpe ratio and the Sortino ratio. We used data of nominal appreciation of pension funds from the Czech Republic, Slovakia, Poland, Sweden, Switzerland and the Netherlands in the period 2005−2013. These countries were selected because they have many common features but Sweden, Switzerl...

  14. Performance Funding in Illinois Higher Education: The Roles of Politics, Budget Environment, and Individual Actors in the Process

    Science.gov (United States)

    Blankenberger, Bob; Phillips, Alan

    2016-01-01

    The completion agenda is the dominant theme in higher education policy in the United States today, and one of the primary strategies advocated in the agenda is performance funding in budgeting for public institutions. Illinois is one example of a state that has attempted to implement performance funding as a means of directing the behavior of…

  15. International funding agencies: potential leaders of impact evaluation in protected areas?

    Science.gov (United States)

    Craigie, Ian D; Barnes, Megan D; Geldmann, Jonas; Woodley, Stephen

    2015-11-05

    Globally, protected areas are the most commonly used tools to halt biodiversity loss. Yet, some are failing to adequately conserve the biodiversity they contain. There is an urgent need for knowledge on how to make them function more effectively. Impact evaluation methods provide a set of tools that could yield this knowledge. However, rigorous outcome-focused impact evaluation is not yet used as extensively as it could be in protected area management. We examine the role of international protected area funding agencies in facilitating the use of impact evaluation. These agencies are influential stakeholders as they allocate hundreds of millions of dollars annually to support protected areas, creating a unique opportunity to shape how the conservation funds are spent globally. We identify key barriers to the use of impact evaluation, detail how large funders are uniquely placed to overcome many of these, and highlight the potential benefits if impact evaluation is used more extensively. © 2015 The Author(s).

  16. Performance Evaluation of Security Protocols

    DEFF Research Database (Denmark)

    Bodei, Chiara; Buchholtz, Mikael; Curti, Michele

    2005-01-01

    We use a special operational semantics which drives us in inferring quantitative measures on systems describing cryptographis cryptographic protocols. We assign rates to transitions by only looking at these labels. The rates reflect the distributed architecture running applications and the use...... of possibly different cryptosystems. We then map transition systems to Markov chains and evaluate performance of systems, using standard tools....

  17. Evaluation of EIT system performance.

    Science.gov (United States)

    Yasin, Mamatjan; Böhm, Stephan; Gaggero, Pascal O; Adler, Andy

    2011-07-01

    An electrical impedance tomography (EIT) system images internal conductivity from surface electrical stimulation and measurement. Such systems necessarily comprise multiple design choices from cables and hardware design to calibration and image reconstruction. In order to compare EIT systems and study the consequences of changes in system performance, this paper describes a systematic approach to evaluate the performance of the EIT systems. The system to be tested is connected to a saline phantom in which calibrated contrasting test objects are systematically positioned using a position controller. A set of evaluation parameters are proposed which characterize (i) data and image noise, (ii) data accuracy, (iii) detectability of single contrasts and distinguishability of multiple contrasts, and (iv) accuracy of reconstructed image (amplitude, resolution, position and ringing). Using this approach, we evaluate three different EIT systems and illustrate the use of these tools to evaluate and compare performance. In order to facilitate the use of this approach, all details of the phantom, test objects and position controller design are made publicly available including the source code of the evaluation and reporting software.

  18. The balancing role of evaluation mechanisms: cases of publicly funded research institutions: MPG, HGF, and CAS

    NARCIS (Netherlands)

    Luo, Junwen

    2016-01-01

    Evaluation has been designed and used as an instrument of organisational governance for publicly funded research institutions (PRIs). Such an instrument can justify external public support and provide internal evidence for decision-making and organisational learning. Under given national and

  19. Ways to Evaluate the Success of Your Teacher Incentive Fund Project in Meeting TIF Goals

    Science.gov (United States)

    Milanowski, Anthony; Finster, Matthew

    2016-01-01

    This brief outlines some simple methods that Teacher Incentive Fund grants could add to their local evaluations to find out how well they are promoting attainment of the four overall TIF goals. The methods described in this brief can help grantees determine if they are moving toward improving effectiveness, student achievement, and equity.…

  20. Peer Evaluation of Teachers in Maricopa County's Teacher Incentive Fund Program

    Science.gov (United States)

    Milanowski, Anthony; Heneman, Herbert G., III; Finster, Matthew

    2015-01-01

    This case study describes the peer evaluation system the Maricopa County Educational Services Agency (MCESA) is using in the districts participating in its Teacher Incentive Fund (TIF) 3 and 4 grants. Maricopa County's TIF districts cover much of the Phoenix, Arizona, metropolitan area. Including both TIF 3 and 4 cohorts, 12 districts with a total…

  1. Evaluation of the Higher Education Active Community Fund Project in Bournemouth

    OpenAIRE

    Apostolakis, Christos

    2005-01-01

    This report evaluates the Higher Education Active Community Fund (HEACF) Project from its first year in September 2002 to May 2005.The principle objective of the study was to evaluate the implementation of the HEACF project, its impact and its capacity to achieve the aims during this time. Based on research evidence the HEACF project introduced a holistic and systematic way of organising and developing volunteer activity at Bournemouth University. In addition to this, the project provided an ...

  2. Computed radiography systems performance evaluation

    International Nuclear Information System (INIS)

    Xavier, Clarice C.; Nersissian, Denise Y.; Furquim, Tania A.C.

    2009-01-01

    The performance of a computed radiography system was evaluated, according to the AAPM Report No. 93. Evaluation tests proposed by the publication were performed, and the following nonconformities were found: imaging p/ate (lP) dark noise, which compromises the clinical image acquired using the IP; exposure indicator uncalibrated, which can cause underexposure to the IP; nonlinearity of the system response, which causes overexposure; resolution limit under the declared by the manufacturer and erasure thoroughness uncalibrated, impairing structures visualization; Moire pattern visualized at the grid response, and IP Throughput over the specified by the manufacturer. These non-conformities indicate that digital imaging systems' lack of calibration can cause an increase in dose in order that image prob/ems can be so/ved. (author)

  3. Mid-term evaluation of the Climate Change Action Fund: Technology Early Action Measures (TEAM) block

    International Nuclear Information System (INIS)

    2001-11-01

    To assist Canada in meeting its commitments under the Kyoto Protocol for the reduction of greenhouse gas emissions, the Government of Canada established the Climate Change Action Fund (CCAF) in 1998. Under the CCAF umbrella, the Technology Early Action Measures (TEAM) Block was initially allocated 60 million dollars over a three-year period for the provision of cost-shared support to speed up the development and deployment of cost-effective near market-ready greenhouse gases emission reducing technologies. The main avenues adopted by TEAM in its mandate were: supporting technology development and deployment, overcoming obstacles to technology development and deployment, and piloting technology transfer to developing countries and countries in transition. A mid-term evaluation of its performance to date was conducted. It proved to be too early for an adequate assessment of the extent to which the projects sponsored by TEAM demonstrated technical success in reducing greenhouse gases emissions, considering the time-consuming tasks required for the development and negotiation of technology projects. Most projects to date have not moved beyond the early stages benchmark. It was determined that the expected outcomes will be achieved. The innovative approach selected by TEAM, building on existing programs, appeared to be very effective. Findings and recommendations were discussed in this report

  4. A STUDY ON THE PERFORMANCE OF ICICI-US PURDENTIAL EQUITY FUND

    OpenAIRE

    Dr. D. S. Selvakumar*

    2016-01-01

    The first introduction of mutual fund in India occurred in 1963, when the government of India launched Unit Trust of India (UTI). In 1996, SEBI (stock exchange board of India) the regulator of mutual fund in India, formulated the mutual fund regulation which is comprehensive regulatory framework. And the income of the mutual fund takes in two forms they are dividends and capital gain. Mutual fund means a group of people collecting the money putting together and investing to buy shares stocks...

  5. 25 CFR 1200.17 - What special criteria will be used to evaluate management plans for judgment or settlement funds?

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 2 2010-04-01 2010-04-01 false What special criteria will be used to evaluate management... FOR AMERICAN INDIANS, DEPARTMENT OF THE INTERIOR AMERICAN INDIAN TRUST FUND MANAGEMENT REFORM ACT Withdrawing Tribal Funds From Trust § 1200.17 What special criteria will be used to evaluate management plans...

  6. Performability Modelling Tools, Evaluation Techniques and Applications

    NARCIS (Netherlands)

    Haverkort, Boudewijn R.H.M.

    1990-01-01

    This thesis deals with three aspects of quantitative evaluation of fault-tolerant and distributed computer and communication systems: performability evaluation techniques, performability modelling tools, and performability modelling applications. Performability modelling is a relatively new

  7. Monitoring and evaluating transition and sustainability of donor-funded programs: Reflections on the Avahan experience.

    Science.gov (United States)

    Bennett, Sara; Ozawa, Sachiko; Rodriguez, Daniela; Paul, Amy; Singh, Kriti; Singh, Suneeta

    2015-10-01

    In low and middle-income countries, programs funded and implemented by international donors frequently transition to local funding and management, yet such processes are rarely evaluated. We reflect upon experience evaluating the transition of a large scale HIV/AIDS prevention program in India, known as Avahan, in order to draw lessons about transition evaluation approaches and implementation challenges. In terms of conceptualizing the transition theory, the evaluation team identified tensions between the idea of institutionalizing key features of the Avahan program, and ensuring program flexibility to promote sustainability. The transition was planned in three rounds allowing for adaptations to transition intervention and program design during the transition period. The assessment team found it important to track these changes in order to understand which strategies and contextual features supported transition. A mixed methods evaluation was employed, combining semi-structured surveys of transitioning entities (conducted pre and post transition), with longitudinal case studies. Qualitative data helped explain quantitative findings. Measures of transition readiness appeared robust, but we were uncertain of the robustness of institutionalization measures. Finally, challenges to the implementation of such an evaluation are discussed. Given the scarceness of transition evaluations, the lessons from this evaluation may have widespread relevance. Copyright © 2015 The Authors. Published by Elsevier Ltd.. All rights reserved.

  8. Evaluate Data Center Network Performance

    DEFF Research Database (Denmark)

    Pilimon, Artur

    through a data center network, which is usually built with layer 2 switches and layer 3 routers. The topology of the data center network is crucial for latency in the data communication to and from the data center and between servers in the data center. Tests can be conducted to measure latency and other...... Engineering, scientists evaluate data center network topologies with an SDN-based (Software-Defined Networking) control framework measuring network performance – primarily latency. This can be used to plan data center scaling by testing how a new topology will function before changes are made. Data center...... performance parameters for different data center network topologies. It is however important that tests can be repeated and reproduced to have comparable information from the tests. There are, of course, many topologies that can be used for data center networks. At DTU Fotonik, Department of Photonics...

  9. EVALUATION OF THE STRUCTURAL FUNDS ABSORPTION RATE BY MEANS OF THE HERMIN MODEL

    Directory of Open Access Journals (Sweden)

    Opritescu Elena Madalina

    2012-07-01

    Full Text Available The main objective of this article is to highlight the main method that could quantify the impact of the structural funds on the Gross Domestic Product. I also presented the regional disparities situation and the European funds absorption rate. The HERMIN model has been designed considering the evolution of macro-variables throughout transition and pre-accession process, as well as out of the need to analyze the gradual alignment of Romania’s economic policies to those of EU. The fact that, initially, the HERMIN model was designed for the European Union’s less developed economies represented the cornerstone in choosing it, as it was the case for Romania, too. However, the quantitative evaluation must always be accompanied by a qualitative evaluation, in order to comprise factors which cannot be measured by the econometrical modeling. For this purpose, when the results of econometrical model based evaluation are used, it is important to be aware of the fact that models simplify reality, no matter the impressive mathematical calculations they employ. Also, we must not omit the fact that Romania’s major development needs and the current economic context imperatively demand a high as possible level of structural funds absorption, as well as their efficient use, meant to generate a significant impact at a national, regional and local level. One of the main instruments employed to sustain economic growth, while also reducing disparities between regions is represented by the structural funds. These funds, consisting in financial contributions of the member states, according to their level of development, are redistributed in compliance with an extremely complex regulating and procedural frame, to those EU states of regions which are fallen behind from a social and economical development perspective Nevertheless, when absorption capacity of a member state is evaluated, the used percentage from the allocated funds is not the only

  10. Structural equation model for the evaluation of national funding on R&D project of SMEs in consideration with MBNQA criteria.

    Science.gov (United States)

    Sohn, S Y; Gyu Joo, Yong; Kyu Han, Hong

    2007-02-01

    Financial support on the R&D in Science & Technology for SMEs at the governmental level plays a crucial role on the improvement of the national competitiveness. Korea Science & Engineering Foundation (KOSEF) has supported the R&D projects of SMEs with the competitive technology ability by way of the Science and Technology Promotion Fund. In this paper, we propose a structural equation model (SEM) to evaluate the performance of such a funding program in terms of three aspects: output, outcome and impact under given funding inputs, R&D environment of a recipient company, and external evaluation programs of funding organization. We adopt Malcolm Baldrige National Quality Award (MBNQA) criteria to assess the R&D environmental factors of recipient companies. In addition, we test the effect of interim evaluation of the funded project. The proposed model is applied to the real case and is used to identify the best practices as well as to provide feedback information for the improvement of the government funding programs of the R&D projects of SMEs.

  11. Plant operator performance evaluation system

    International Nuclear Information System (INIS)

    Ujita, Hiroshi; Fukuda, Mitsuko; Kubota, Ryuji.

    1989-01-01

    A plant operator performance evaluation system to analyze plant operation records during accident training and to identify and classify operator errors has been developed for the purpose of supporting realization of a training and education system for plant operators. A knowledge engineering technique was applied to evaluation of operator behavior by both even-based and symptom-based procedures, in various situations including event transition due to multiple failures or operational errors. The system classifies the identified errors as to their single and double types based on Swain's error classification and the error levels reflecting Rasmussen's cognitive level, and it also evaluates the effect of errors on plant state and then classifies error influence, using 'knowledge for phenomena and operations', as represented by frames. It has additional functions for analysis of error statistics and knowledge acquisition support of 'knowledge for operations'. The system was applied to a training analysis for a scram event in a BWR plant, and its error analysis function was confirmed to be effective by operational experts. (author)

  12. 48 CFR 436.604 - Performance evaluation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Performance evaluation... Performance evaluation. Preparation of performance evaluation reports. (a) In addition to the requirements of FAR 36.604, performance evaluation reports shall be prepared for indefinite-delivery type contracts...

  13. Economics and the evaluation of publicly funded energy R and D

    Energy Technology Data Exchange (ETDEWEB)

    Jones, D.W.; Paik, I.K.

    1998-10-19

    There are three major areas in which economics can contribute to the evaluation of federal R and D: assessment of net benefits, ex ante expected as well as ex post realized; tailoring of R and D portfolios to policy goals; and guiding the contractual organization of R and D production. Additionally, evaluation of R and D and scientific activity tend to be distinctly retrospective, principally because of the long lags between the initial production activity and the observability of consequences. Extending the purview of economic evaluation of R and D, they find ample opportunity for evaluation that can inform current R and D management practice. The conduct of R and D is organized through a series of explicit and implicit contracts designed to elicit long-term commitments by some agents while attempting to limit the commitment by others. It is natural to consider the efficiency with which R and D is conducted as a subject for economic inquiry, although in practice such inquiries generally are restricted to accounting exercises. In evaluating the efficiency with which R and D is done, the current ordinary practice is to look at labor rates and equipment and materials prices while considering quantities of those items as the principal instrument variables in an optimization problem (the authors conceptualization, not that of the typical review of an R and D project). The authors recommend the contractual structure and other elements of the incentive structure (pay and promotion) of R and D production as prime focal points for managerially useful economic evaluation. Non-economic motivations for funding public R and D, including energy R and D, are well known. The US will consider spending several billion dollars on an international space station, partly if not largely, to fund the peaceful employment of scientists from the Former Soviet Union. Nonetheless, it will be useful to understand the economics of the R and D programs even if other considerations play important

  14. 75 FR 52010 - Land and Water Conservation Fund Description and Notification, Performance Reports, Agreements...

    Science.gov (United States)

    2010-08-24

    ... DEPARTMENT OF THE INTERIOR National Park Service Land and Water Conservation Fund Description and.... SUPPLEMENTARY INFORMATION: The Land and Water Conservation Fund Act of 1965 (LWCF Act) (16 U.S.C 4601-4 et seq... for this program: 1. Description and Notification Form Title: Land and Water Conservation Fund...

  15. Evaluating Innovations in Home Care for Performance Accountability.

    Science.gov (United States)

    Collister, Barbara; Gutscher, Abram; Ambrogiano, Jana

    2016-01-01

    Concerns about rising costs and the sustainability of our healthcare system have led to a drive for innovative solutions and accountability for performance. Integrated Home Care, Calgary Zone, Alberta Health Services went beyond traditional accountability measures to use evaluation methodology to measure the progress of complex innovations to its organization structure and service delivery model. This paper focuses on the first two phases of a three-phase evaluation. The results of the first two phases generated learning about innovation adoption and sustainability, and performance accountability at the program-level of a large publicly funded healthcare organization.

  16. Metrics, Dollars, and Systems Change: Learning from Washington State's Student Achievement Initiative to Design Effective Postsecondary Performance Funding Policies. A State Policy Brief

    Science.gov (United States)

    Jenkins, Davis; Shulock, Nancy

    2013-01-01

    The Student Achievement Initiative (SAI), adopted by the Washington State Board for Community and Technical Colleges in 2007, is one of a growing number of performance funding programs that have been dubbed "performance funding 2.0." Unlike previous performance funding models, the SAI rewards colleges for students' intermediate…

  17. 48 CFR 2936.604 - Performance evaluation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Performance evaluation... Performance evaluation. (a) The HCA must establish procedures to evaluate architect-engineer contractor... reports must be made using Standard Form 1421, Performance Evaluation (Architect-Engineer) as prescribed...

  18. 13 CFR 304.4 - Performance evaluations.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Performance evaluations. 304.4... ECONOMIC DEVELOPMENT DISTRICTS § 304.4 Performance evaluations. (a) EDA shall evaluate the management... of at least one (1) other District Organization in the performance evaluation on a cost-reimbursement...

  19. 48 CFR 236.604 - Performance evaluation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Performance evaluation... Architect-Engineer Services 236.604 Performance evaluation. (a) Preparation of performance reports. Use DD Form 2631, Performance Evaluation (Architect-Engineer), instead of SF 1421. (2) Prepare a separate...

  20. The Return-risk Performance of Selected Pension Fund in OECD with Focus on the Czech Pension System

    Directory of Open Access Journals (Sweden)

    Petr Kupčík

    2016-01-01

    Full Text Available This paper focuses on the measuring and comparing investment performance of pension funds in selected European countries. Comparison of the investment performance of pension funds is determined by means of the Sharpe ratio and the Sortino ratio. We used data of nominal appreciation of pension funds from the Czech Republic, Slovakia, Poland, Sweden, Switzerland and the Netherlands in the period 2005−2013. These countries were selected because they have many common features but Sweden, Switzerland and the Netherlands were added to the analysis because we wanted to show the differences between a developed and less developed fully funded system. The last part of this article presents the main causes of the differences in investment performance of pension funds. Conclusions of the paper are focused on a comparison of the results of the Sharpe ratio and the Sortino ratio of pension funds from selected countries and recommendations for the Czech pension system. The article proposes a mechanism for determining the order of the negative Sharpe ratio and the Sortino ratio.

  1. A systematic evaluation of payback of publicly funded health and health services research in Hong Kong

    Directory of Open Access Journals (Sweden)

    Chong Doris SY

    2007-07-01

    Full Text Available Abstract Background The Health and Health Services Research Fund (HHSRF is dedicated to support research related to all aspects of health and health services in Hong Kong. We evaluated the fund's outcomes and explored factors associated with the translation of research findings to changes in health policy and provider behaviour. Methods A locally suitable questionnaire was developed based on the "payback" evaluation framework and was sent to principal investigators of the completed research projects supported by the fund since 1993. Research "payback" in six outcome areas was surveyed, namely knowledge production, use of research in the research system, use of research project findings in health system policy/decision making, application of the research findings through changed behaviour, factors influencing the utilization of research, and health/health service/economic benefits. Results Principal investigators of 178 of 205 (87% completed research projects returned the questionnaire. Investigators reported research publications in 86.5% (mean = 5.4 publications per project, career advancement 34.3%, acquisition of higher qualifications 38.2%, use of results in policy making 35.4%, changed behaviour in light of findings 49.4%, evidence of health service benefit 42.1% and generated subsequent research in 44.9% of the projects. Payback outcomes were positively associated with the amount of funding awarded. Multivariate analysis found participation of investigators in policy committees and liaison with potential users were significantly associated with reported health service benefit (odds ratio [OR]participation = 2.86, 95% confidence interval [CI] 1.28–6.40; ORliaison = 2.03, 95% CI 1.05–3.91, policy and decision-making (ORparticipation = 10.53, 95% CI 4.13–26.81; ORliaison = 2.52, 95% CI 1.20–5.28, and change in behavior (ORparticipation = 3.67, 95% CI 1.53–8.81. Conclusion The HHSRF has produced substantial outcomes and compared

  2. Evaluation of emergency department performance

    DEFF Research Database (Denmark)

    Sørup, Christian Michel; Jacobsen, Peter; Forberg, Jakob Lundager

    2013-01-01

    eligibility criteria includes: 1) the main purpose was to discuss, analyse, or promote performance measures best reflecting ED performance, 2) the article was a review article, and 3) the article reported macro-level performance measures, thus reflecting an overall departmental performance level. Results...... measures that related directly to the patient. Performance measures related to employees were only stated in two of the 14 included articles. Conclusions A total of 55 ED performance measures were identified. ED time intervals were the most recommended performance measures followed by patient centeredness...... and safety performance measures. ED employee related performance measures were rarely mentioned in the investigated literature. The study’s results allow for advancement towards improved performance measurement and standardised assessment across EDs....

  3. Government Performance and Results Act Reporting on Defense Working Capital Funds Net Operating Results

    National Research Council Canada - National Science Library

    2001-01-01

    ...". The Defense Working Capital Fund provides support services to the Military Departments. The support services include supply management, depot maintenance, finance and accounting, information services, and commissary...

  4. Transaction-cost Expenditures and the Relative Performance of Mutual Funds

    OpenAIRE

    John M.R. Chalmers; Roger M. Edelen; Gregory B. Kadlec

    1999-01-01

    We directly estimate annual trading costs for a sample of equity mutual funds and find that these costs are large and exhibit substantial cross sectional variation. Trading costs average 0.78% of fund assets per year and have an inter-quartile range of 0.59%. Trading costs, like expense ratios, are negatively related to fund returns and we find no evidence that on average trading costs are recovered in higher gross fund returns. We find that our direct estimates of trading costs have more exp...

  5. Evaluating the benefits of government funded R & D aimed at the private sector

    Science.gov (United States)

    Greenberg, J. S.

    1977-01-01

    Federal funding of technological research and development is discussed with regard to the procedures for an economic analysis with the goals of (1) determining when the public sector should invest in a research and development program, (2) evaluating the likelihood of private sector participation in terms of public sector participation, and (3) considering the major factors in the formulation of a research and development program in terms of defining initiatives. Public sector investments are evaluated, noting procedures for determining whether benefits exceed costs. The role of the public sector research and development planning is described, considering the procedure for private sector implementation decisions and a methodology for evaluating the possibility of private sector commercialization. The economic value of the public sector research and development program is presented with attention given to a specific case of NASA-sponsored research and development aimed toward the commercialization of new public communications services.

  6. Fundos de Investimento Brasileiros: a influência dos momentos superiores na avaliação de desempenhoBrazilian Investments Funds: the influence of higher moments in performance evaluationFondos de Inversión Brasileños: la influencia de los momentos superiores en la evaluación de la rentabilidad

    Directory of Open Access Journals (Sweden)

    BARBA, Fernanda Galvão

    2010-09-01

    Full Text Available RESUMOA indústria de fundos de investimento desempenha importante papel na captação e alocação de recursos no mercado brasileiro. Sua importância aumentou consideravelmente após a abertura econômica do país, bem como o número de fundos e o montante de recursos por eles administrado. Os principais modelos de mensuração de performance de portfólios estão atrelados ao pressuposto da normalidade das distribuições de retornos e à relação entre o primeiro e o segundo momento, como é o caso do tradicional modelo CAPM. Contudo, a normalidade nem sempre é verificada e a inclusão de momentos superiores no modelo de precificação pode ser interessante para captar os efeitos da assimetria e curtose sistemáticas. No presente artigo, as variáveis co-assimetria e co-curtose são adicionadas ao modelo CAPM. Por meio do método de mínimos quadrados ordinários, são estimadas diversas regressões, aplicadas ao contexto do mercado brasileiro de fundos de investimento. Os resultados apontam que a inclusão dos momentos superiores, no contexto nacional, não é de grande relevância para a melhoria do modelo. Para validar o estudo, duas sub-amostras alternativas foram formadas, nas quais os resultados mantêm-se os mesmos.ABSTRACTThe mutual fund industry plays an important role in picking up and allocating resources in the Brazilian market. Its importance increased significantly after the country’s economic opening, as well as the number of funds an it’s amount of resources under management. The main models of portfolio’s performance evaluation are conditioned to the assumption of normality of returns distribution and the relation between the first and the second moment, like the traditional CAPM model. But, the normality is not always observed and the inclusion of superior moments in the model may be interesting to catch the systematic skewness and kurtosis effect. In the present article, the co-skewness and co-kurtosis variables

  7. Energy performance evaluation of AAC

    Science.gov (United States)

    Aybek, Hulya

    The U.S. building industry constitutes the largest consumer of energy (i.e., electricity, natural gas, petroleum) in the world. The building sector uses almost 41 percent of the primary energy and approximately 72 percent of the available electricity in the United States. As global energy-generating resources are being depleted at exponential rates, the amount of energy consumed and wasted cannot be ignored. Professionals concerned about the environment have placed a high priority on finding solutions that reduce energy consumption while maintaining occupant comfort. Sustainable design and the judicious combination of building materials comprise one solution to this problem. A future including sustainable energy may result from using energy simulation software to accurately estimate energy consumption and from applying building materials that achieve the potential results derived through simulation analysis. Energy-modeling tools assist professionals with making informed decisions about energy performance during the early planning phases of a design project, such as determining the most advantageous combination of building materials, choosing mechanical systems, and determining building orientation on the site. By implementing energy simulation software to estimate the effect of these factors on the energy consumption of a building, designers can make adjustments to their designs during the design phase when the effect on cost is minimal. The primary objective of this research consisted of identifying a method with which to properly select energy-efficient building materials and involved evaluating the potential of these materials to earn LEED credits when properly applied to a structure. In addition, this objective included establishing a framework that provides suggestions for improvements to currently available simulation software that enhance the viability of the estimates concerning energy efficiency and the achievements of LEED credits. The primary objective

  8. Evidence of active management of private voluntary pension funds in Colombia: a performance analysis using proxy ETFs

    Directory of Open Access Journals (Sweden)

    Edgardo Cayón Fallón

    2010-04-01

    Full Text Available The purpose of this study is to find evidence that shows that either active management of private pension funds in Colombia actually adds value to the investors or, on the contrary, investors would achieve better results if they invested in passively managed products such as, for example, an ETF (Exchange Trade Fund. After conducting a review of data available from 30 different private pension funds in Colombia and 30 ETFs that had similar investment goals to these portfolios, our findings reveal that, using common performance indicators, a Colombian investor would have a better ROI by investing in passively managed products (ETFs than in portfolios currently offered by voluntary pension funds in Colombia

  9. Asset Management Costs and Financial Performance of Dutch Pension Funds in 2011-2014

    NARCIS (Netherlands)

    Hollanders, David

    2016-01-01

    The costs of Dutch pension funds have increased in the last decades. The costs, as a percentage of assets invested, doubled between 1992-2009. In 2014 total costs equalled 6.3 billion euro, or 19.6% of annual contributions. Asset management is the largest component of costs. Pension funds claim that

  10. Do social factors influence investment behavior and performance? Evidence from mutual fund holdings

    NARCIS (Netherlands)

    Borgers, Arian; Derwall, J.M.M.; Koedijk, Kees; ter Horst, Jenke

    2015-01-01

    We study the economic significance of social dimensions in investment decisions by analyzing the holdings of U.S. equity mutual funds over the period 2004-2012. Using these holdings, we measure funds' exposures to socially sensitive stocks in order to answer two questions. What explains

  11. 48 CFR 36.604 - Performance evaluation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Performance evaluation. 36.604 Section 36.604 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION SPECIAL... Performance evaluation. See 42.1502(f) for the requirements for preparing past performance evaluations for...

  12. Funding a smoking cessation program for Crohn's disease: an economic evaluation.

    Science.gov (United States)

    Coward, Stephanie; Heitman, Steven J; Clement, Fiona; Negron, Maria; Panaccione, Remo; Ghosh, Subrata; Barkema, Herman W; Seow, Cynthia; Leung, Yvette P Y; Kaplan, Gilaad G

    2015-03-01

    Patients with Crohn's disease (CD) who smoke are at a higher risk of flaring and requiring surgery. Cost-effectiveness studies of funding smoking cessation programs are lacking. Thus, we performed a cost-utility analysis of funding smoking cessation programs for CD. A cost-utility analysis was performed comparing five smoking cessation strategies: No Program, Counseling, Nicotine Replacement Therapy (NRT), NRT+Counseling, and Varenicline. The time horizon for the Markov model was 5 years. The health states included medical remission (azathioprine or antitumor necrosis factor (anti-TNF), dose escalation of an anti-TNF, second anti-TNF, surgery, and death. Probabilities were taken from peer-reviewed literature, and costs (CAN$) for surgery, medications, and smoking cessation programs were estimated locally. The primary outcome was the cost per quality-adjusted life year (QALY) gained associated with each smoking cessation strategy. Threshold, three-way sensitivity, probabilistic sensitivity analysis (PSA), and budget impact analysis (BIA) were carried out. All strategies dominated No Program. Strategies from most to least cost effective were as follows: Varenicline (cost: $55,614, QALY: 3.70), NRT+Counseling (cost: $58,878, QALY: 3.69), NRT (cost: $59,540, QALY: 3.69), Counseling (cost: $61,029, QALY: 3.68), and No Program (cost: $63,601, QALY: 3.67). Three-way sensitivity analysis demonstrated that No Program was only more cost effective when every strategy's cost exceeded approximately 10 times their estimated costs. The PSA showed that No Program was the most cost-effective system money over No Program. Health-care systems should consider funding smoking cessation programs for CD, as they improve health outcomes and reduce costs.

  13. 40 CFR 63.2354 - What performance tests, design evaluations, and performance evaluations must I conduct?

    Science.gov (United States)

    2010-07-01

    ... evaluations, and performance evaluations must I conduct? 63.2354 Section 63.2354 Protection of Environment... tests, design evaluations, and performance evaluations must I conduct? (a)(1) For each performance test... procedures specified in subpart SS of this part. (3) For each performance evaluation of a continuous emission...

  14. Medicare Administrative Contractor Performance Evaluation

    Data.gov (United States)

    U.S. Department of Health & Human Services — The Centers for Medicare and Medicaid Services (CMS) has compiled a summary of overall Medicare Administrative Contractor (MAC) performance information as measured...

  15. Evaluation of implementation viability gap funding (VGF) policy on toll road investment in Indonesia

    Science.gov (United States)

    Mahani, Iris; Tamin, Rizal Z.; Pribadi, Krishna S.; Wibowo, Andreas

    2017-11-01

    VGF policy for toll road investment in Indonesia must be reviewed. Since 2012 the Government of Indonesia (GOI) has issued viability gap funding (VGF) policy for PPP infrastructure project through ministry of finance decision (PMK) No.223/2012. One of VGF purpose is to improve the financial feasibility. In the toll road investment in Indonesia, the implementation of this policy has some problems. This study aimed to evaluate the policy by seeking implementation constraints so can be given an alternative. This research was conducted qualitatively, included aspects of implementation process VGF policy. The analysis process is based on literature study and in-depth interviews to related parties include business entity, ministry of finance, and the ministry of public works, Indonesia Toll Road Authority (BPJT) and professional societies. The literature review conducted by reviewing existing policies and best practices in countries that already practice VGF. The conclusion of this study are 1) There is a conflict of regulation in viability gap funding (VGF) for toll road investment in Indonesia; 2) If Government of Indonesia (GOI) want implement construction grant as VGF, so the regulation must improve in time limited for submission and clearly define limited given in regulation; 3) If GOI want implement partial construction as VGF, so the regulation must be improve in guideline for submission and given.

  16. Aging evaluation of active components by using performance evaluation

    International Nuclear Information System (INIS)

    Jung, S. K.; Jin, T. E.; Kim, J. S.; Jung, I. S.; Kim, T. R.

    2003-01-01

    Risk analysis and performance evaluation methodology were applied to the aging evaluation of active components in the periodic safety review of Wolsung unit 1. We conclude that evaluation of performance is more effective to discriminate the aging degradation of active component than the evaluation of aging mechanism. It is essential to analyze the common cause failures of low performance components to evaluate the properness of present maintenance system. Past 10 years failure history is used for establishing the performance criteria. Past 2 years failure history is used for the evaluating the recent performance condition. We analyze the failure mode of the components to improve the maintenance system. Performance evaluation methodology is useful for the quantitative evaluation of aging degradation of active components. Analysis on the repeated failures can be useful for the feedback to maintenance plan and interval

  17. Tennessee and Florida: Continuity and Change in Long-Lasting State Performance Funding Systems for Higher Education. CCRC Brief. Number 43

    Science.gov (United States)

    Dougherty, Kevin J.; Natow, Rebecca S.

    2010-01-01

    This study analyzes changes over time in long-lasting state performance funding systems for higher education. It addresses two research questions: First, in what ways have long-lasting systems changed over time in funding levels, indicators used to allocate funds, and measures used for those indicators? Second, what political actors, actions, and…

  18. Portfolio optimization and performance evaluation

    DEFF Research Database (Denmark)

    Juhl, Hans Jørn; Christensen, Michael

    2013-01-01

    Based on an exclusive business-to-business database comprising nearly 1,000 customers, the applicability of portfolio analysis is documented, and it is examined how such an optimization analysis can be used to explore the growth potential of a company. As opposed to any previous analyses, optimal...... customer portfolios are determined, and it is shown how marketing decision-makers can use this information in their marketing strategies to optimize the revenue growth of the company. Finally, our analysis is the first analysis which applies portfolio based methods to measure customer performance......, and it is shown how these performance measures complement the optimization analysis....

  19. Performance analysis of portuguese equity mutual funds: indexing vs active portfolio management

    OpenAIRE

    Ribeiro, Alexandra João Santana

    2011-01-01

    Master in Finance The present thesis was done with the objective of analyzing the portfolio management strategies followed by managers of Portuguese Equity Funds, using the PSI Geral as the benchmark. Thus, the quarter returns and compositions of portfolio were used. The market timing ability and the variables that may have influenced tracking error (vs. PSI Geral) were also analyzed. The main conclusion was that just 1 fund managed to put successfully into practice the active portfolio...

  20. The effects of liquidity and share restrictions on hedge fund performance in bull and bear markets

    OpenAIRE

    El-Alawa, Y. (Yasmin)

    2016-01-01

    Abstract Hedge funds are increasingly becoming a popular alternative investment vehicle. They are much more flexible and can freely choose from a pool of investment strategies due to their limited regulations. This gives them the flexibility to exploit opportunities in order to generate high returns at low risk. In order to have access to the freedom and flexibility to engage in different investment strategies, hedge funds ...

  1. Evaluating judge performance in sport.

    Science.gov (United States)

    Looney, Marilyn A

    2004-01-01

    Many sports, such as, gymnastics, diving, ski jumping, and figure skating, use judges' scores to determine the winner of a competition. These judges use some type of rating scale when judging performances (e.g., figure skating: 0.0 - 6.0). Sport governing bodies have the responsibility of setting and enforcing quality control parameters for judge performance. Given the judging scandals in figure skating at the 1998 and 2002 Olympics, judge performance in sport is receiving greater scrutiny. The purpose of this article is to illustrate how results from Rasch analyses can be used to provide in-depth feedback to judges about their scoring patterns. Nine judges' scores for 20 pairs of figure skaters who competed at the 2002 Winter Olympics were analyzed using a four-faceted (skater pair ability, skating aspect difficulty, program difficulty, and judge severity) Rasch rating scale model that was not common to all judges. Fit statistics, the logical ordering of skating aspects, skating programs, and separation indices all indicated a good fit of the data to the model. The type of feedback that can be given to judges about their scoring pattern was illustrated for one judge (USA) whose performance was flagged as being unpredictable. Feedback included a detailed description of how the rating scale was used; for example, 10% of all marks given by the American judge were unexpected by the model (Z > |2|). Three figures illustrated differences between the judge's observed and expected marks arranged according to the pairs' skating order and final placement in the competition. Scores which may represent "nationalistic bias" or a skating order influence were flagged by looking at these figures. If sport governing bodies wish to improve the performance of their judges, they need to employ methods that monitor the internal consistency of each judge as a many-facet Rasch analysis does.

  2. The Relationship of State Funding of Education to Student Performance on State Mandated Assessments in South Dakota

    Science.gov (United States)

    Price, Joel Philip

    2012-01-01

    This study determined the relationship of state funding to student performance on state mandated assessments in South Dakota between the years of 2003-2009. A cohort group of 40 school districts between 200 ADM and 600 ADM who had not reorganized were selected. Data was collected using the Dakota STEP assessment portal on the South Dakota…

  3. The Use of Performance Based Funding in a Sport Organization: A Case Study of the United States Olympic Committee

    Science.gov (United States)

    2009-08-01

    description and analysis of a single instance, phenomenon, or social unit (Merriam, 1998). Management by Objective (MBO). A control system designed to...theoretical principles of performance based funding instead of testing a hypothesis, my epistemology will be constructivist. Constructionism Maynard...operate. This constitutes a vital epistemological position that constructionism takes in relation to the interaction between the investigator and

  4. An evaluation of the International Monetary Fund's claims about public health.

    Science.gov (United States)

    Stuckler, David; Basu, Sanjay; Gilmore, Anna; Batniji, Rajaie; Ooms, Gorik; Marphatia, Akanksha A; Hammonds, Rachel; McKee, Martin

    2010-01-01

    The International Monetary Fund's recent claims concerning its impact on public health are evaluated against available data. First, the IMF claims that health spending either does not change or increases with IMF-supported programs, but there is substantial evidence to the contrary. Second, the IMF claims to have relaxed strict spending requirements in response to the 2008-9 financial crisis, but there is no evidence supporting this claim, and some limited evidence from the Center for Economic Policy Research contradicting it. Third, the IMF states that wage ceilings on public health are no longer part of its explicit conditionalities to poor countries, as governments can choose how to achieve public spending targets; but in practice, ministers are left with few viable alternatives than to reduce health budgets to achieve specific IMF-mandated targets, so the result effectively preserves former policy. Fourth, the IMF's claim that it has increased aid to poor countries also seems to be contradicted by its policies of diverting aid to reserves, as well as evidence that a very small fraction of the Fund's new lending in response to the financial crisis has reached poor countries. Finally, the IMF's claim that it follows public health standards in tobacco control contrasts with its existing policies, which fail to follow the guidelines recommended by the World Bank and World Health Organization. The authors recommend that the IMF (1) become more transparent in its policies, practices, and data to allow improved independent evaluations of its impact on public health (including Health Impact Assessment) and (2) review considerable public health evidence indicating a negative association between its current policies and public health outcomes.

  5. Loudspeaker Design and Performance Evaluation

    Science.gov (United States)

    Mäkivirta, Aki Vihtori

    A loudspeaker comprises transducers converting an electrical driving signal into sound pressure, an enclosure working as a holder for transducers, front baffle and box to contain and eliminate the rear-radiating audio signal, and electronic components. Modeling of transducers as well as enclosures is treated in Chap. 32 of this handbook. The purpose of the present chapter is to shed light on the design choices and options for the electronic circuits conditioning the electrical signal fed into loudspeaker transducers in order to optimize the acoustic performance of the loudspeaker.

  6. Performance evaluation of behavioral finance mutual funds : a comparison between behavioral finance mutual funds and conventional funds in the Norwegian fund market.

    OpenAIRE

    Sjøberg, Christian

    2011-01-01

    Masteroppgave i økonomi og administrasjon - Universitetet i Agder 2011 Behavioral finance has been gathering more and more attention in the last decade, and both academia and practitioners have slowly starting to accept that psychology influence financial markets. Even though markets are irrational, old theories like CAPM, fundamental analysis and modern portfolio theory is still widely used. Given the amount of research regarding behavioral finance, is it impossible to give a ...

  7. Evaluation channel performance in multichannel environments

    NARCIS (Netherlands)

    Gensler, S.; Dekimpe, M.; Skiera, B.

    2007-01-01

    Evaluating channel performance is crucial for actively managing multiple sales channels, and requires understanding the customers' channel preferences. Two key components of channel performance are (i) the existing customers' intrinsic loyalty to a particular channel and (ii) the channel's ability

  8. Model Performance Evaluation and Scenario Analysis (MPESA)

    Science.gov (United States)

    Model Performance Evaluation and Scenario Analysis (MPESA) assesses the performance with which models predict time series data. The tool was developed Hydrological Simulation Program-Fortran (HSPF) and the Stormwater Management Model (SWMM)

  9. Performance evaluation of Louisiana superpave mixtures.

    Science.gov (United States)

    2008-12-01

    This report documents the performance of Louisiana Superpave mixtures through laboratory mechanistic tests, mixture : volumetric properties, gradation analysis, and early field performance. Thirty Superpave mixtures were evaluated in this : study. Fo...

  10. Performance evaluation of ventilation radiators

    International Nuclear Information System (INIS)

    Myhren, Jonn Are; Holmberg, Sture

    2013-01-01

    A ventilation radiator is a combined ventilation and heat emission unit currently of interest due to its potential for increasing energy efficiency in exhaust-ventilated buildings with warm water heating. This paper presents results of performance tests of several ventilation radiator models conducted under controlled laboratory conditions. The purpose of the study was to validate results achieved by Computational Fluid Dynamics (CFD) in an earlier study and identify possible improvements in the performance of such systems. The main focus was on heat transfer from internal convection fins, but comfort and health aspects related to ventilation rates and air temperatures were also considered. The general results from the CFD simulations were confirmed; the heat output of ventilation radiators may be improved by at least 20% without sacrificing ventilation efficiency or thermal comfort. Improved thermal efficiency of ventilation radiators allows a lower supply water temperature and energy savings both for heating up and distribution of warm water in heat pumps or district heating systems. A secondary benefit is that a high ventilation rate can be maintained all year around without risk for cold draught. -- Highlights: ► Low temperature heat emitters are currently of interest due to their potential for increasing energy efficiency. ► A ventilation radiator is a combined ventilation and heat emission unit which can be adapted to low temperature heating systems. ► We examine how ventilation radiators can be made to be more efficient in terms of energy consumption and thermal comfort. ► Current work focuses on heat transfer mechanisms and convection fin configuration of ventilation radiators

  11. Critical success factors influencing the performance of development projects: An empirical study of Constituency Development Fund projects in Kenya

    OpenAIRE

    Debadyuti Das; Christopher Ngacho

    2017-01-01

    The present work attempts to identify critical success factors (CSFs) influencing the performance of development projects based on their key performance indicators (KPIs). It has considered the case of Constituency Development Fund (CDF) projects constructed between 2003 and 2011 in Kenya and secured the perceptions of 175 respondents comprising clients, consultants and contractors involved in the implementation of CDF projects on 30 success variables. Findings reveal that individual items co...

  12. The Impacts of State Performance Funding Systems on Higher Education Institutions: Research Literature Review and Policy Recommendations. CCRC Working Paper No. 37

    Science.gov (United States)

    Dougherty, Kevin J.; Reddy, Vikash

    2011-01-01

    Over the past three decades policymakers have been seeking new ways to secure improved performance from higher education institutions. One popular approach has been performance funding, which involves use of a formula to tie funding to institutional performance on specified indicators. This report reviews findings from studies on performance…

  13. Norwegian mutual fund performance based on Fama and French´s five-factor model

    OpenAIRE

    Mustafa, Daniel Amir; Ali, Mohammad Yousaf

    2016-01-01

    Masteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2016 The following paper uses a dataset free of survivorship bias for the period 2002-2011. We investigate whether Norwegian mutual funds possess enough skills to outperform a passive benchmark based on Fama and French’s five-factor model. Our results suggest that the mutual fund industry exhibits significant excess returns on a 10% level in the recent financial crisis. Further, we examine whether the results obtaine...

  14. Performance Evaluation and Market Timing: the Skill Index

    Directory of Open Access Journals (Sweden)

    Ney Roberto Otoni de Brito

    2003-01-01

    Full Text Available MERTON (1981 examines the creation of value by fund managers selecting between stocks and fixed income instruments through market timing. HENRIKSON and MERTON (1981 proceed to propose empirical tests of funds and manager performance in market timing. BRITO, BONA and TACIRO (2003 generalize the results of MERTON (1981 and HENRIKSON and MERTON (1981 for actively managed funds with a clearly defined benchmark portfolio. In the generalized context of active portfolio management, this paper proposes a new index – the Skill Index of Brito (SIB – to measure the performance and efficiency in market timing of actively managed funds. The paper proceeds to test the performance and skill of hedge funds in Brazil using the SIB. A representative sample of 32 hedge funds with a window of 90 trading days on October 31, 1999 was obtained. The empirical tests of performance and skill use the interbank borrowing and lending rate as the passive benchmark. The results indicate the significance at the 5% level of the SIB for ten hedge funds in the sample. Among them seven funds also have shown significance at the 1% level. In sum the results indicate a majority of hedge funds with no significant skill in the Brazilian market in the examined period.

  15. Allocating Scarce Resources Strategically - An Evaluation and Discussion of the Global Fund's Pattern of Disbursements

    Science.gov (United States)

    McCoy, David; Kinyua, Kelvin

    2012-01-01

    Background The Global Fund is under pressure to improve its rationing of financial support. This study describes the GF's pattern of disbursements in relation to total health expenditure (THE), government health expenditure (GHE), income status and the burden of HIV/AIDS, TB and malaria. It also examines the potential for recipient countries to increase domestic public financing for health. Methods This is a cross-sectional study of 104 countries that received Global Fund disbursements in 2009. It analyses data on Global Fund disbursements; health financing indicators; government revenue and expenditure; and burden of disease. Findings Global Fund disbursements made up 0.37% of THE across all 104 countries; but with considerable country variation ranging from 0.002% to 53.4%. Global Fund disbursements to government amounted to 0.47% of GHE across the 104 countries, but again with considerable variation (in three countries more than half of GHE was based on Global Fund support). Although the Global Fund provides progressively more funding for lower income countries on average, there is much variation at the country such that here was no correlation between per capita GF disbursements and per capita THE, nor between per capita GF disbursement to government and per capita GHE. There was only a slight positive correlation between per capita GF disbursement and burden of disease. Several countries with a high degree of 'financial dependency' upon the Fund have the potential to increase levels of domestic financing for health. Discussion The Global Fund can improve its targeting of resources so that it better matches the pattern of global need. To do this it needs to: a) reduce the extent to which funds are allocated on a demand-driven basis; and b) align its funding model to broader health systems financing and patterns of health expenditure beyond the three diseases. PMID:22590496

  16. Allocating scarce resources strategically--an evaluation and discussion of the Global Fund's pattern of disbursements.

    Directory of Open Access Journals (Sweden)

    David McCoy

    Full Text Available BACKGROUND: The Global Fund is under pressure to improve its rationing of financial support. This study describes the GF's pattern of disbursements in relation to total health expenditure (THE, government health expenditure (GHE, income status and the burden of HIV/AIDS, TB and malaria. It also examines the potential for recipient countries to increase domestic public financing for health. METHODS: This is a cross-sectional study of 104 countries that received Global Fund disbursements in 2009. It analyses data on Global Fund disbursements; health financing indicators; government revenue and expenditure; and burden of disease. FINDINGS: Global Fund disbursements made up 0.37% of THE across all 104 countries; but with considerable country variation ranging from 0.002% to 53.4%. Global Fund disbursements to government amounted to 0.47% of GHE across the 104 countries, but again with considerable variation (in three countries more than half of GHE was based on Global Fund support. Although the Global Fund provides progressively more funding for lower income countries on average, there is much variation at the country such that here was no correlation between per capita GF disbursements and per capita THE, nor between per capita GF disbursement to government and per capita GHE. There was only a slight positive correlation between per capita GF disbursement and burden of disease. Several countries with a high degree of 'financial dependency' upon the Fund have the potential to increase levels of domestic financing for health. DISCUSSION: The Global Fund can improve its targeting of resources so that it better matches the pattern of global need. To do this it needs to: a reduce the extent to which funds are allocated on a demand-driven basis; and b align its funding model to broader health systems financing and patterns of health expenditure beyond the three diseases.

  17. Methodology for quantitative evaluation of diagnostic performance

    International Nuclear Information System (INIS)

    Metz, C.

    1981-01-01

    Of various approaches that might be taken to the diagnostic performance evaluation problem, Receiver Operating Characteristic (ROC) analysis holds great promise. Further development of the methodology for a unified, objective, and meaningful approach to evaluating the usefulness of medical imaging procedures is done by consideration of statistical significance testing, optimal sequencing of correlated studies, and analysis of observer performance

  18. The Evaluation of Higher Education Expenditure Performance and Investment Mechanism Reform

    Science.gov (United States)

    Wang, De; Fu, Meiying

    2009-01-01

    Along with the reform of Chinese Government public finance, higher education belongs to the public product, gradually changes from "fund investment management" to the "expenditure performance management". The evaluation of expenditure performance system becomes the key point of higher education investment mechanism reform. This…

  19. PERFORMANCE EVALUATION: LITERATURE REVIEW AND TIME EVOLUTION.

    Directory of Open Access Journals (Sweden)

    Pintea Mirela-Oana

    2012-07-01

    Full Text Available Performance evaluation of an economic entity requires approaching several criteria, such as industry and economic entity type, managerial and entrepreneurial strategy, competitive environment, human and material resources available, using a system of appropriate performance indicators for this purpose.The exigencies of communication occurred on the growing number of phenomena that marked the global economy in recent decades (internationalization and relocation of business crises and turmoil in financial markets, demand performance measurement to be made in a comprehensive way by financial and non-financial criteria. Indicators are measures of performance used by management to measure, report and improve performance of the economic entity. The relationship between indicators and management is ensured by the existence of performance measurement systems. Studies to date indicate that economic entities using balanced performance measurement systems as a key management tool registered superior performance compared to entities not using such systems. This study attempts to address the issue of performance evaluation by presenting opinions of different authors concerning the process of performance measurement and to present, after revising the literature, the evolution of the performance evaluation systems. We tried to do this literature review because sustainable development and, therefore, globalization require new standards of performance that exceeds the economic field, both for domestic companies as well as international ones. So, these standards should be integrated into corporate strategy development to ensure sustainability of activities undertaken by harmonizing the economic, social and environmental objectives. To assess the performance of economic entities it is required that performance evaluation to be done with a balanced multidimensional system, including both financial ratios and non-financial indicators in order to reduce the limits of

  20. Analysis of the performance and cost effectiveness of nine small wind energy conversion systems funded by the DOE small grants program

    Energy Technology Data Exchange (ETDEWEB)

    Kay, Joshua [Univ. of California, Berkeley, CA (United States)

    1982-04-01

    This report presents an analysis of the technical performance and cost effectiveness of nine small wind energy conversion systems (SWECS) funded during FY 1979 by the U.S. Department of Energy. Chapter 1 gives an analytic framework with which to evaluate the systems. Chapter 2 consists of a review of each of the nine projects, including project technical overviews, estimates of energy savings, and results of economic analysis. Chapter 3 summarizes technical, economic, and institutional barriers that are likely to inhibit widespread dissemination of SWECS technology.

  1. Science as Knowledge, Practice, and Map Making: The Challenge of Defining Metrics for Evaluating and Improving DOE-Funded Basic Experimental Science

    Energy Technology Data Exchange (ETDEWEB)

    Bodnarczuk, M.

    1993-03-01

    Industrial R&D laboratories have been surprisingly successful in developing performance objectives and metrics that convincingly show that planning, management, and improvement techniques can be value-added to the actual output of R&D organizations. In this paper, I will discuss the more difficult case of developing analogous constructs for DOE-funded non-nuclear, non-weapons basic research, or as I will refer to it - basic experimental science. Unlike most industrial R&D or the bulk of applied science performed at the National Renewable Energy Laboratory (NREL), the purpose of basic experimental science is producing new knowledge (usually published in professional journals) that has no immediate application to the first link (the R) of a planned R&D chain. Consequently, performance objectives and metrics are far more difficult to define. My claim is that if one can successfully define metrics for evaluating and improving DOE-funded basic experimental science (which is the most difficult case), then defining such constructs for DOE-funded applied science should be much less problematic. With the publication of the DOE Standard - Implementation Guide for Quality Assurance Programs for Basic and Applied Research (DOE-ER-STD-6001-92) and the development of a conceptual framework for integrating all the DOE orders, we need to move aggressively toward the threefold next phase: (1) focusing the management elements found in DOE-ER-STD-6001-92 on the main output of national laboratories - the experimental science itself; (2) developing clearer definitions of basic experimental science as practice not just knowledge; and (3) understanding the relationship between the metrics that scientists use for evaluating the performance of DOE-funded basic experimental science, the management elements of DOE-ER-STD-6001-92, and the notion of continuous improvement.

  2. NPP Krsko natural circulation performance evaluation

    International Nuclear Information System (INIS)

    Segon, Velimir; Bajs, Tomislav; Frogheri, Monica

    1999-01-01

    The present document deals with an evaluation of the natural circulation performance of the Krsko nuclear power plant. Two calculation have been performed using the NPP Krsko nodalization (both similar to the LOBI A2-77 natural circulation experiment) - the first with the present steam generators at NPP Krsko (Westinghouse, 18% plugged), the second with the future steam generators (Siemens, 0% plugged). The results were evaluated using the natural circulation flow map derived in /1/, and were compared to evaluate the influence of the new steam generators on the natural circulation performance. (author)

  3. SEE Action Guide for States: Evaluation, Measurement, and Verification Frameworks$-$Guidance for Energy Efficiency Portfolios Funded by Utility Customers

    Energy Technology Data Exchange (ETDEWEB)

    Li, Michael [Dept. of Energy (DOE), Washington DC (United States); Dietsch, Niko [US Environmental Protection Agency (EPA), Cincinnati, OH (United States)

    2018-01-01

    This guide describes frameworks for evaluation, measurement, and verification (EM&V) of utility customer–funded energy efficiency programs. The authors reviewed multiple frameworks across the United States and gathered input from experts to prepare this guide. This guide provides the reader with both the contents of an EM&V framework, along with the processes used to develop and update these frameworks.

  4. An alternative mechanism for international health aid: evaluating a Global Social Protection Fund.

    Science.gov (United States)

    Basu, Sanjay; Stuckler, David; McKee, Martin

    2014-01-01

    Several public health groups have called for the creation of a global fund for 'social protection'-a fund that produces the international equivalent of domestic tax collection and safety net systems to finance care for the ill and disabled and related health costs. All participating countries would pay into a global fund based on a metric of their ability to pay and withdraw from the common pool based on a metric of their need for funds. We assessed how alternative strategies and metrics by which to operate such a fund would affect its size and impact on health system financing. Using a mathematical model, we found that common targets for health funding in low-income countries require higher levels of aid expenditures than presently distributed. Some mechanisms exist that may incentivize reduction of domestic health inequalities, and direct most funds towards the poorest populations. Payments from high-income countries are also likely to decrease over time as middle-income countries' economies grow.

  5. Conductor gestures influence evaluations of ensemble performance.

    Science.gov (United States)

    Morrison, Steven J; Price, Harry E; Smedley, Eric M; Meals, Cory D

    2014-01-01

    Previous research has found that listener evaluations of ensemble performances vary depending on the expressivity of the conductor's gestures, even when performances are otherwise identical. It was the purpose of the present study to test whether this effect of visual information was evident in the evaluation of specific aspects of ensemble performance: articulation and dynamics. We constructed a set of 32 music performances that combined auditory and visual information and were designed to feature a high degree of contrast along one of two target characteristics: articulation and dynamics. We paired each of four music excerpts recorded by a chamber ensemble in both a high- and low-contrast condition with video of four conductors demonstrating high- and low-contrast gesture specifically appropriate to either articulation or dynamics. Using one of two equivalent test forms, college music majors and non-majors (N = 285) viewed sixteen 30 s performances and evaluated the quality of the ensemble's articulation, dynamics, technique, and tempo along with overall expressivity. Results showed significantly higher evaluations for performances featuring high rather than low conducting expressivity regardless of the ensemble's performance quality. Evaluations for both articulation and dynamics were strongly and positively correlated with evaluations of overall ensemble expressivity.

  6. Conductor gestures influence evaluations of ensemble performance

    Directory of Open Access Journals (Sweden)

    Steven eMorrison

    2014-07-01

    Full Text Available Previous research has found that listener evaluations of ensemble performances vary depending on the expressivity of the conductor’s gestures, even when performances are otherwise identical. It was the purpose of the present study to test whether this effect of visual information was evident in the evaluation of specific aspects of ensemble performance, articulation and dynamics. We constructed a set of 32 music performances that combined auditory and visual information and were designed to feature a high degree of contrast along one of two target characteristics: articulation and dynamics. We paired each of four music excerpts recorded by a chamber ensemble in both a high- and low-contrast condition with video of four conductors demonstrating high- and low-contrast gesture specifically appropriate to either articulation or dynamics. Using one of two equivalent test forms, college music majors and nonmajors (N = 285 viewed sixteen 30-second performances and evaluated the quality of the ensemble’s articulation, dynamics, technique and tempo along with overall expressivity. Results showed significantly higher evaluations for performances featuring high rather than low conducting expressivity regardless of the ensemble’s performance quality. Evaluations for both articulation and dynamics were strongly and positively correlated with evaluations of overall ensemble expressivity.

  7. Rating mutual funds

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Rangvid, Jesper

    2007-01-01

    We develop a new rating of mutual funds: the atpRating. The atpRating assigns crowns to each individual mutual fund based upon the costs an investor pays when investing in the fund in relation to what it would cost to invest in the fund's peers. Within each investment category, the rating assigns...... the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atp...... five crowns to funds with the lowest costs and one crown to funds with the highest costs. We investigate the ability of the atpRating to predict the future performance of a fund. We find that an investor who has invested in the funds with the lowest costs within an investment category would have...

  8. Laboratory performance evaluation reports for management

    International Nuclear Information System (INIS)

    Lindahl, P.C.; Hensley, J.E.; Bass, D.A.; Johnson, P.L.; Marr, J.J.; Streets, W.E.; Warren, S.W.; Newberry, R.W.

    1995-01-01

    In support of the US DOE's environmental restoration efforts, the Integrated Performance Evaluation Program (IPEP) was developed to produce laboratory performance evaluation reports for management. These reports will provide information necessary to allow DOE headquarters and field offices to determine whether or not contracted analytical laboratories have the capability to produce environmental data of the quality necessary for the remediation program. This document describes the management report

  9. Evaluating Student-Teacher Linkage Data in Teacher Incentive Fund (TIF) Sites: Acquisition, Verification, and System Development. The Harvesting Project

    Science.gov (United States)

    Watson, Jeffery; Witham, Peter; St. Louis, Timothy

    2010-01-01

    The U.S. Department of Education Teacher Incentive Fund (TIF) seeks to transform education compensation systems so that principal and teacher performance (measured through classroom productivity measures) connects to compensation. Classroom-level productivity measures require robust student-teacher linkage data. Organizations such as the…

  10. Mass Transit: Implementation of FTA's New Starts Evaluation Process and FY 2001 Funding Proposals

    National Research Council Canada - National Science Library

    2000-01-01

    .... Much of this investment has come through the Federal Transit Administration's (FTA) New Starts program, which helps pay for certain rail, bus, and trolley projects through full funding grant agreements...

  11. Evaluation of high-performance computing software

    Energy Technology Data Exchange (ETDEWEB)

    Browne, S.; Dongarra, J. [Univ. of Tennessee, Knoxville, TN (United States); Rowan, T. [Oak Ridge National Lab., TN (United States)

    1996-12-31

    The absence of unbiased and up to date comparative evaluations of high-performance computing software complicates a user`s search for the appropriate software package. The National HPCC Software Exchange (NHSE) is attacking this problem using an approach that includes independent evaluations of software, incorporation of author and user feedback into the evaluations, and Web access to the evaluations. We are applying this approach to the Parallel Tools Library (PTLIB), a new software repository for parallel systems software and tools, and HPC-Netlib, a high performance branch of the Netlib mathematical software repository. Updating the evaluations with feed-back and making it available via the Web helps ensure accuracy and timeliness, and using independent reviewers produces unbiased comparative evaluations difficult to find elsewhere.

  12. Performance-Based Evaluation and School Librarians

    Science.gov (United States)

    Church, Audrey P.

    2015-01-01

    Evaluation of instructional personnel is standard procedure in our Pre-K-12 public schools, and its purpose is to document educator effectiveness. With Race to the Top and No Child Left Behind waivers, states are required to implement performance-based evaluations that demonstrate student academic progress. This three-year study describes the…

  13. Building Leadership Talent through Performance Evaluation

    Science.gov (United States)

    Clifford, Matthew

    2015-01-01

    Most states and districts scramble to provide professional development to support principals, but "principal evaluation" is often lost amid competing priorities. Evaluation is an important method for supporting principal growth, communicating performance expectations to principals, and improving leadership practice. It provides leaders…

  14. Evaluating the impact of public space investments with limited time and funds: (methodological) lessons from a Swiss case study

    Energy Technology Data Exchange (ETDEWEB)

    Barjak, F.

    2016-07-01

    The paper suggests a methodology for evaluating innovation support policies and funding in the space sector. Previous evaluations have suggested methodologies which require considerable time and resources. Our approach combines a data collection at organisational level through standardised interviews and at project level through an online survey which are relatively quick to implement and less costly. We demonstrate that valid results can be obtained with such an approach. (Author)

  15. Exchange traded funds (etf): evaluation and portfolio building from etf’s

    OpenAIRE

    Valukonis, Mantas

    2010-01-01

    As the global financial crisis is started, investors are trying to look for new investment methods. During the meltdown of most shares, share investments are becoming unattractive, it decreases the liquidity of the exchange itself. As bears are dominating in share markets, more and more investors choose various alternatives of investments. One of them is Exchange Traded Funds, therefore a closer acquaintance with the management, features and advantages of these funds is needed. In order to ch...

  16. PENSION FUND ACCOUNTING: AN EVALUATION OF THE PERCEPTION OF ACCOUNTANTS, CONSULTANTS AND AUDITORS ON BRAZILIAN ACCOUNTING STANDARDS APPLICABLE

    Directory of Open Access Journals (Sweden)

    Carlos Augusto Pacheco Pereira

    2016-03-01

    Full Text Available The objective of the study is to verify the perception of accountants, auditors and consultants in relation to Brazilian accounting standards for pension funds. For this a questionnaire was prepared and sent to accountants, auditors and accounting of pension fund consultants. 132 were returned, of which 110 worked as an accountant in any entity, 8 rendering services as external auditors and 14 as consultants. The results obtained indicate that, in general, these professionals know the accounting standards for pension funds used in Brazil and believe that such standards are adequate, except for the period of addressing the deficit, provision for doubtful accounts, contingency reserve boundary and evaluation of real estate investments, in which the perception of the professionals is that the procedures in the international standard are more suitable.

  17. Performance Evaluation Of Behavioral Biometric Systems

    OpenAIRE

    Cherifi , Fouad; Hemery , Baptiste; Giot , Romain; Pasquet , Marc; Rosenberger , Christophe

    2009-01-01

    We present in this chapter an overview of techniques for the performance evaluation of behavioral biometric systems. The BioAPI standard that defines the architecture of a biometric system is presented in the first part of the chapter... The general methodology for the evaluation of biometric systems is given including statistical metrics, definition of benchmark databases and subjective evaluation. These considerations rely with the ISO/IEC19795-1 standard describing the biometric performanc...

  18. The peer review process for awarding funds to international science research consortia: a qualitative developmental evaluation.

    Science.gov (United States)

    Gregorius, Stefanie; Dean, Laura; Cole, Donald C; Bates, Imelda

    2017-01-01

    Background:  Evaluating applications for multi-national, multi-disciplinary, dual-purpose research consortia is highly complex. There has been little research on the peer review process for evaluating grant applications and almost none on how applications for multi-national consortia are reviewed. Overseas development investments are increasingly being channelled into international science consortia to generate high-quality research while simultaneously strengthening multi-disciplinary research capacity. We need a better understanding of how such decisions are made and their effectiveness. Methods:  An award-making institution planned to fund 10 UK-Africa research consortia. Over two annual rounds, 34 out of 78 eligible applications were shortlisted and reviewed by at least five external reviewers before final selections were made by a face-to-face panel. We used an innovative approach involving structured, overt observations of award-making panel meetings and semi-structured interviews with panel members to explore how assessment criteria concerning research quality and capacity strengthening were applied during the peer review process. Data were coded and analysed using pre-designed matrices which incorporated categories relating to the assessment criteria. Results:  In general the process was rigorous and well-managed. However, lack of clarity about differential weighting of criteria and variations in the panel's understanding of research capacity strengthening resulted in some inconsistencies in use of the assessment criteria. Using the same panel for both rounds had advantages, in that during the second round consensus was achieved more quickly and the panel had increased focus on development aspects. Conclusion:  Grant assessment panels for such complex research applications need to have topic- and context-specific expertise. They must also understand research capacity issues and have a flexible but equitable and transparent approach. This study has

  19. Pension Fund

    CERN Multimedia

    2003-01-01

    All members and beneficiaries of the Pension Fund are invited to attend the Annual General Asssembly to be held in the CERN Auditorium on Wednesday 8 October 2003 at 14.30 hrs The Agenda comprises: 1. Opening RemarksJ. Bezemer 2. Annual Report 2002: Presentation and results Copies of the Report are available from divisional secretariats. C. Cuénoud 3. Overview of the present situation with regard to pension funds C. Cuénoud 4. Performance of the Fund since the year 2000 and aspects of the ongoing asset/liability modelling exercise G. Maurin 5. Questions from members and beneficiariesPersons wishing to ask questions are encouraged to submit them, where possible, in writing in advance, addressed to Mr C. Cuénoud, Administrator of the Fund. 6. Conclusions J. Bezemer As usual, participants are invited to drinks after the assembly. NB The minutes of the 2002 General Assembly are available from the Administration of the Fund tel.(+4122)767 27 42; e-mail Sophia.Revol@cern.ch)

  20. Performance Evaluation and Modelling of Container Terminals

    Science.gov (United States)

    Venkatasubbaiah, K.; Rao, K. Narayana; Rao, M. Malleswara; Challa, Suresh

    2018-02-01

    The present paper evaluates and analyzes the performance of 28 container terminals of south East Asia through data envelopment analysis (DEA), principal component analysis (PCA) and hybrid method of DEA-PCA. DEA technique is utilized to identify efficient decision making unit (DMU)s and to rank DMUs in a peer appraisal mode. PCA is a multivariate statistical method to evaluate the performance of container terminals. In hybrid method, DEA is integrated with PCA to arrive the ranking of container terminals. Based on the composite ranking, performance modelling and optimization of container terminals is carried out through response surface methodology (RSM).

  1. Performance evaluation of Central European companies

    Directory of Open Access Journals (Sweden)

    Petr Fiala

    2015-10-01

    Full Text Available The paper presents a modelling approach for performance comparison of Central European companies on three levels: country, industry, and company. The approach is based on Data Envelopment Analysis and Analytic Hierarchy Process. The proposed model consists of two basic sections. The first section estimates the importance of selected industries in the countries, whereas the second section evaluates the performance of companies within industries. The results of both sections are synthesized and finally the country performance is estimated. The evaluation is based on the data set resulting from a survey of companies from selected industries.

  2. Picking Funds with Confidence

    DEFF Research Database (Denmark)

    Grønborg, Niels Strange; Lunde, Asger; Timmermann, Allan

    We present a new approach to selecting active mutual funds that uses both holdings and return information to eliminate funds with predicted inferior performance through a sequence of pair-wise comparisons. Our methodology determines both the number of skilled funds and their identity, funds...... identified ex-ante as being superior earn substantially higher risk-adjusted returns than top funds identified by conventional alpha ranking methods. Importantly, we find strong evidence of variation in the breadth of the set of funds identified as superior, as well as fluctuations in the style and industry...... exposures of such funds over time and across different volatility states....

  3. Supplier Performance Evaluation and Rating System (SPEARS)

    International Nuclear Information System (INIS)

    Oged, M.; Warner, D.; Gurbuz, E.

    1993-03-01

    The SSCL Magnet Quality Assurance Department has implemented a Supplier Performance Evaluation and Rating System (SPEARS) to assess supplier performance throughout the development and production stages of the SSCL program. The main objectives of SPEARS are to promote teamwork and recognize performance. This paper examines the current implementation of SPEARS. MSD QA supports the development and production of SSCsuperconducting magnets while implementing the requirements of DOE Order 5700.6C. The MSD QA program is based on the concept of continuous improvement in quality and productivity. The QA program requires that procurement of items and services be controlled to assure conformance to specification. SPEARS has been implemented to meet DOE requirements and to enhance overall confidence in supplier performance. Key elements of SPEARS include supplier evaluation and selection as well as evaluation of furnished quality through source inspection, audit, and receipt inspection. These elements are described in this paper

  4. Supplier Performance Evaluation and Rating System (SPEARS)

    International Nuclear Information System (INIS)

    Oged, M.; Warner, D.G.; Gurbuz, E.

    1994-01-01

    The SSCL Magnet Quality Assurance Department has implemented a Supplier Performance Evaluation and Rating System (SPEARS) to assess supplier performance throughout the development and production stages of the SSCL program. The main objectives of SPEARS are to promote teamwork and recognize performance. This paper examines the current implementation of SPEARS. MSD QA supports the development and production of SSC superconducting magnets while implementing the requirements of DOE Order 5700.6C. The MSD QA program is based on the concept of continuous improvement in quality and productivity. The QA program requires that procurement of items and services be controlled to assure conformance to specification. SPEARS has been implemented to meet DOE requirements and to enhance overall confidence in supplier performance. Key elements of SPEARS include supplier evaluation and selection as well as evaluation of furnished quality through source inspection, audit, and receipt inspection. These elements are described in this paper

  5. Performance Evaluation Model for Application Layer Firewalls.

    Science.gov (United States)

    Xuan, Shichang; Yang, Wu; Dong, Hui; Zhang, Jiangchuan

    2016-01-01

    Application layer firewalls protect the trusted area network against information security risks. However, firewall performance may affect user experience. Therefore, performance analysis plays a significant role in the evaluation of application layer firewalls. This paper presents an analytic model of the application layer firewall, based on a system analysis to evaluate the capability of the firewall. In order to enable users to improve the performance of the application layer firewall with limited resources, resource allocation was evaluated to obtain the optimal resource allocation scheme in terms of throughput, delay, and packet loss rate. The proposed model employs the Erlangian queuing model to analyze the performance parameters of the system with regard to the three layers (network, transport, and application layers). Then, the analysis results of all the layers are combined to obtain the overall system performance indicators. A discrete event simulation method was used to evaluate the proposed model. Finally, limited service desk resources were allocated to obtain the values of the performance indicators under different resource allocation scenarios in order to determine the optimal allocation scheme. Under limited resource allocation, this scheme enables users to maximize the performance of the application layer firewall.

  6. Performance Evaluation Model for Application Layer Firewalls.

    Directory of Open Access Journals (Sweden)

    Shichang Xuan

    Full Text Available Application layer firewalls protect the trusted area network against information security risks. However, firewall performance may affect user experience. Therefore, performance analysis plays a significant role in the evaluation of application layer firewalls. This paper presents an analytic model of the application layer firewall, based on a system analysis to evaluate the capability of the firewall. In order to enable users to improve the performance of the application layer firewall with limited resources, resource allocation was evaluated to obtain the optimal resource allocation scheme in terms of throughput, delay, and packet loss rate. The proposed model employs the Erlangian queuing model to analyze the performance parameters of the system with regard to the three layers (network, transport, and application layers. Then, the analysis results of all the layers are combined to obtain the overall system performance indicators. A discrete event simulation method was used to evaluate the proposed model. Finally, limited service desk resources were allocated to obtain the values of the performance indicators under different resource allocation scenarios in order to determine the optimal allocation scheme. Under limited resource allocation, this scheme enables users to maximize the performance of the application layer firewall.

  7. Teacher Evaluation, Pay for Performance, and Learning around Instruction: Between Dissonant Incentives and Resonant Procedures

    Science.gov (United States)

    Mintrop, Rick; Ordenes, Miguel; Coghlan, Erin; Pryor, Laura; Madero, Cristobal

    2018-01-01

    Purpose: The study examines why the logic of a performance management system, supported by the federal Teacher Incentive Fund, might be faulty. It does this by exploring the nuances of the interplay between teaching evaluations as formative and summative, the use of procedures, tools, and artifacts obligated by the local Teacher Incentive Fund…

  8. Multi-objective portfolio optimization of mutual funds under downside risk measure using fuzzy theory

    OpenAIRE

    M. Amiri; M. Zandieh; A. Alimi

    2012-01-01

    Mutual fund is one of the most popular techniques for many people to invest their funds where a professional fund manager invests people's funds based on some special predefined objectives; therefore, performance evaluation of mutual funds is an important problem. This paper proposes a multi-objective portfolio optimization to offer asset allocation. The proposed model clusters mutual funds with two methods based on six characteristics including rate of return, variance, semivariance, turnove...

  9. Rating Mutual Funds

    DEFF Research Database (Denmark)

    Bechmann, Ken L.; Rangvid, Jesper

    We develop a new rating of mutual funds: the atpRating. The atpRating assigns crowns to each individual mutual fund based upon the costs an investor pays when investing in the fund in relation to what it would cost to invest in the fund’s peers. Within each investment category, the rating assigns......, whereas the return of a fund in a certain year generally contains only little information about the future return that the fund will generate. Finally, we have information on the investments in different mutual funds made by a small subgroup of investors known to have been exposed to both the atp...... five crowns to funds with the lowest costs and one crown to funds with the highest costs. We investigate the ability of the atpRating to predict the future performance of a fund. We find that an investor who has invested in the funds with the lowest costs within an investment category would have...

  10. Virginia power's human performance evaluation system (HPES)

    International Nuclear Information System (INIS)

    Patterson, W.E.

    1991-01-01

    This paper reports on the Human Performance Evaluation System (HPES) which was initially developed by the Institute of Nuclear Power Operations (INPO) using the Aviation Safety Reporting System (ASRS) as a guide. After a pilot program involving three utilities ended in 1983, the present day program was instituted. A methodology was developed, for specific application to nuclear power plant employees, to aid trained coordinators/evaluators in determining those factors that exert a negative influence on human behavior in the nuclear power plant environment. HPES is for anyone and everyone on site, from contractors to plant staff to plant management. No one is excluded from participation. Virginia Power's HPES program goal is to identify and correct the root causes of human performance problems. Evaluations are performed on reported real or perceived conditions that may have an adverse influence on members of the nuclear team. A report is provided to management identifying root cause and contributing factors along with recommended corrective actions

  11. An algorithm for calculating exam quality as a basis for performance-based allocation of funds at medical schools.

    Science.gov (United States)

    Kirschstein, Timo; Wolters, Alexander; Lenz, Jan-Hendrik; Fröhlich, Susanne; Hakenberg, Oliver; Kundt, Günther; Darmüntzel, Martin; Hecker, Michael; Altiner, Attila; Müller-Hilke, Brigitte

    2016-01-01

    The amendment of the Medical Licensing Act (ÄAppO) in Germany in 2002 led to the introduction of graded assessments in the clinical part of medical studies. This, in turn, lent new weight to the importance of written tests, even though the minimum requirements for exam quality are sometimes difficult to reach. Introducing exam quality as a criterion for the award of performance-based allocation of funds is expected to steer the attention of faculty members towards more quality and perpetuate higher standards. However, at present there is a lack of suitable algorithms for calculating exam quality. In the spring of 2014, the students' dean commissioned the "core group" for curricular improvement at the University Medical Center in Rostock to revise the criteria for the allocation of performance-based funds for teaching. In a first approach, we developed an algorithm that was based on the results of the most common type of exam in medical education, multiple choice tests. It included item difficulty and discrimination, reliability as well as the distribution of grades achieved. This algorithm quantitatively describes exam quality of multiple choice exams. However, it can also be applied to exams involving short assay questions and the OSCE. It thus allows for the quantitation of exam quality in the various subjects and - in analogy to impact factors and third party grants - a ranking among faculty. Our algorithm can be applied to all test formats in which item difficulty, the discriminatory power of the individual items, reliability of the exam and the distribution of grades are measured. Even though the content validity of an exam is not considered here, we believe that our algorithm is suitable as a general basis for performance-based allocation of funds.

  12. An algorithm for calculating exam quality as a basis for performance-based allocation of funds at medical schools

    Directory of Open Access Journals (Sweden)

    Kirschstein, Timo

    2016-05-01

    Full Text Available Objective: The amendment of the Medical Licensing Act (ÄAppO in Germany in 2002 led to the introduction of graded assessments in the clinical part of medical studies. This, in turn, lent new weight to the importance of written tests, even though the minimum requirements for exam quality are sometimes difficult to reach. Introducing exam quality as a criterion for the award of performance-based allocation of funds is expected to steer the attention of faculty members towards more quality and perpetuate higher standards. However, at present there is a lack of suitable algorithms for calculating exam quality.Methods: In the spring of 2014, the students‘ dean commissioned the „core group“ for curricular improvement at the University Medical Center in Rostock to revise the criteria for the allocation of performance-based funds for teaching. In a first approach, we developed an algorithm that was based on the results of the most common type of exam in medical education, multiple choice tests. It included item difficulty and discrimination, reliability as well as the distribution of grades achieved. Results: This algorithm quantitatively describes exam quality of multiple choice exams. However, it can also be applied to exams involving short assay questions and the OSCE. It thus allows for the quantitation of exam quality in the various subjects and – in analogy to impact factors and third party grants – a ranking among faculty. Conclusion: Our algorithm can be applied to all test formats in which item difficulty, the discriminatory power of the individual items, reliability of the exam and the distribution of grades are measured. Even though the content validity of an exam is not considered here, we believe that our algorithm is suitable as a general basis for performance-based allocation of funds.

  13. Methods of Evaluating Performances for Marketing Strategies

    OpenAIRE

    Ioan Cucu

    2005-01-01

    There are specific methods for assessing and improving the effectiveness of a marketing strategy. A marketer should state in the marketing plan what a marketing strategy is supposed to accomplish. These statements should set forth performance standards, which usually are stated in terms of profits, sales, or costs. Actual performance must be measured in similar terms so that comparisons are possible. This paper describes sales analysis and cost analysis, two general ways of evaluating the act...

  14. A Proposed RTN Officer Performance Evaluation System

    Science.gov (United States)

    1989-12-01

    Taa& No. WokI Unlit Acca ~def 11¶. TITLE (biclde Securiy ClassifiCation) A PROPOSED ROYAL THAI NAVY OFIICER PERFORM NCE EVALUATION SYSTEM 12. PERSONAL...all aspects of performance into account , the commanding officer uses his opinion to decide who is "the best." There are no standard guidelines for...ftequently used in orgunsadozn as a bais for adminiardstive decisions such as employee promotion., tuufer, and allocation of financial reward; employee

  15. Prospective safety performance evaluation on construction sites.

    Science.gov (United States)

    Wu, Xianguo; Liu, Qian; Zhang, Limao; Skibniewski, Miroslaw J; Wang, Yanhong

    2015-05-01

    This paper presents a systematic Structural Equation Modeling (SEM) based approach for Prospective Safety Performance Evaluation (PSPE) on construction sites, with causal relationships and interactions between enablers and the goals of PSPE taken into account. According to a sample of 450 valid questionnaire surveys from 30 Chinese construction enterprises, a SEM model with 26 items included for PSPE in the context of Chinese construction industry is established and then verified through the goodness-of-fit test. Three typical types of construction enterprises, namely the state-owned enterprise, private enterprise and Sino-foreign joint venture, are selected as samples to measure the level of safety performance given the enterprise scale, ownership and business strategy are different. Results provide a full understanding of safety performance practice in the construction industry, and indicate that the level of overall safety performance situation on working sites is rated at least a level of III (Fair) or above. This phenomenon can be explained that the construction industry has gradually matured with the norms, and construction enterprises should improve the level of safety performance as not to be eliminated from the government-led construction industry. The differences existing in the safety performance practice regarding different construction enterprise categories are compared and analyzed according to evaluation results. This research provides insights into cause-effect relationships among safety performance factors and goals, which, in turn, can facilitate the improvement of high safety performance in the construction industry. Copyright © 2015 Elsevier Ltd. All rights reserved.

  16. The Effects of Performance Budgeting and Funding Programs on Graduation Rate in Public Four-Year Colleges and Universities

    Directory of Open Access Journals (Sweden)

    Jung-cheol Shinn

    2004-05-01

    Full Text Available This study was conducted to determine whether states with performance budgeting and funding (PBF programs had improved institutional performance of higher education over the five years (1997 through 2001 considered in this study. First Time in College (FTIC graduation rate was used as the measure of institutional performance. In this study, the unit of analysis is institution level and the study population is all public four-or-more-year institutions in the United States. To test PBF program effectiveness, Hierarchical Linear Modeling (HLM growth analysis was applied. According to the HLM analysis, the growth of graduation rates in states with PBF programs was not greater than in states without PBF programs. The lack of growth in institutional graduation rates, however, does not mean that PBF programs failed to achieve their goals. Policy-makers are advised to sustain PBF programs long enough until such programs bear their fruits or are proven ineffective.

  17. Subjective performance evaluations and employee careers

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Lange, Fabian; Kriechell, Ben

    Firms commonly use supervisor evaluations to assess the performance of employees who work in complex environments. Doubts persist whether their subjective nature invalidates using these performance measures to learn about careers of individuals and to inform theory in personnel economics. We...... examine personnel data from six large companies and establish how subjective ratings, interpreted as ordinal rankings of employee performances within narrowly defined peer-groups, correlate with objective career outcomes. We find many similarities across firms in how subjective ratings correlate with base...

  18. An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies

    OpenAIRE

    Fang, Jieyan

    2012-01-01

    In this dissertation I investigate the mutual fund industry, especially the three most important participants within this industry: mutual fund investors, mutual fund companies and mutual fund managers. The main research questions of this dissertation are: 1. Does rapid trading exist among German equity mutual fund investors? What are the determinants of rapid trading? Does rapid trading have a negative impact on mutual fund performance? 2. Do mutual fund investors, as a whole, have...

  19. Towards Reliable Evaluation of Anomaly-Based Intrusion Detection Performance

    Science.gov (United States)

    Viswanathan, Arun

    2012-01-01

    This report describes the results of research into the effects of environment-induced noise on the evaluation process for anomaly detectors in the cyber security domain. This research was conducted during a 10-week summer internship program from the 19th of August, 2012 to the 23rd of August, 2012 at the Jet Propulsion Laboratory in Pasadena, California. The research performed lies within the larger context of the Los Angeles Department of Water and Power (LADWP) Smart Grid cyber security project, a Department of Energy (DoE) funded effort involving the Jet Propulsion Laboratory, California Institute of Technology and the University of Southern California/ Information Sciences Institute. The results of the present effort constitute an important contribution towards building more rigorous evaluation paradigms for anomaly-based intrusion detectors in complex cyber physical systems such as the Smart Grid. Anomaly detection is a key strategy for cyber intrusion detection and operates by identifying deviations from profiles of nominal behavior and are thus conceptually appealing for detecting "novel" attacks. Evaluating the performance of such a detector requires assessing: (a) how well it captures the model of nominal behavior, and (b) how well it detects attacks (deviations from normality). Current evaluation methods produce results that give insufficient insight into the operation of a detector, inevitably resulting in a significantly poor characterization of a detectors performance. In this work, we first describe a preliminary taxonomy of key evaluation constructs that are necessary for establishing rigor in the evaluation regime of an anomaly detector. We then focus on clarifying the impact of the operational environment on the manifestation of attacks in monitored data. We show how dynamic and evolving environments can introduce high variability into the data stream perturbing detector performance. Prior research has focused on understanding the impact of this

  20. Development and Performance Evaluation of Indigenously Made ...

    African Journals Online (AJOL)

    A study was conducted to develop, construct and evaluate the performance of cooling chambers made from factory pressed burnt clay (structure-1), locally molded mud blocks (structure-2) and wood wall (structure-3) for extending the shelf life of mangoes and sweet oranges. It was observed that structure-1 significantly ...

  1. Subjective performance evaluation and gender discrimination

    NARCIS (Netherlands)

    Maas, V.S.; Torres-Gonzalez, R.

    2011-01-01

    Gender discrimination continues to be a problem in organizations. It is therefore important that organizations use performance evaluation methods that ensure equal opportunities for men and women. This article reports the results of an experiment to investigate whether and, if so, how the gender of

  2. PENSION FUND

    CERN Multimedia

    2002-01-01

    The Governing Board of the Pension Fund held its 104th and 105th meetings on 8th November and 4th December 2001, respectively. The agenda of the 8th November meeting was devoted to a single item, namely the outcome of the Finance Committee's meeting the previous day. The Governing Board noted with satisfaction that both its proposed amendments to the Rules and Regulations of the Fund - allowing, in particular, the award of a deferred retirement pension after five years of service - and its proposal for the adjustment of pensions on 1.1.2002 had been approved for recommendation to the Council in December. At its meeting on 4th December, the Governing Board dealt mainly with the items examined at the latest meeting of the Investment Committee. The Committee's chairman, G. Maurin, stated that the 2001 return on the Fund's overall investments was likely to be between -2% and -3%. He also noted that a new study of the Fund's cash flows (incomings and outgoings) had been performed. He underlined that, while the flo...

  3. High Performance, Robust Control of Flexible Space Structures: MSFC Center Director's Discretionary Fund

    Science.gov (United States)

    Whorton, M. S.

    1998-01-01

    Many spacecraft systems have ambitious objectives that place stringent requirements on control systems. Achievable performance is often limited because of difficulty of obtaining accurate models for flexible space structures. To achieve sufficiently high performance to accomplish mission objectives may require the ability to refine the control design model based on closed-loop test data and tune the controller based on the refined model. A control system design procedure is developed based on mixed H2/H(infinity) optimization to synthesize a set of controllers explicitly trading between nominal performance and robust stability. A homotopy algorithm is presented which generates a trajectory of gains that may be implemented to determine maximum achievable performance for a given model error bound. Examples show that a better balance between robustness and performance is obtained using the mixed H2/H(infinity) design method than either H2 or mu-synthesis control design. A second contribution is a new procedure for closed-loop system identification which refines parameters of a control design model in a canonical realization. Examples demonstrate convergence of the parameter estimation and improved performance realized by using the refined model for controller redesign. These developments result in an effective mechanism for achieving high-performance control of flexible space structures.

  4. Computer technique for evaluating collimator performance

    International Nuclear Information System (INIS)

    Rollo, F.D.

    1975-01-01

    A computer program has been developed to theoretically evaluate the overall performance of collimators used with radioisotope scanners and γ cameras. The first step of the program involves the determination of the line spread function (LSF) and geometrical efficiency from the fundamental parameters of the collimator being evaluated. The working equations can be applied to any plane of interest. The resulting LSF is applied to subroutine computer programs which compute corresponding modulation transfer function and contrast efficiency functions. The latter function is then combined with appropriate geometrical efficiency data to determine the performance index function. The overall computer program allows one to predict from the physical parameters of the collimator alone how well the collimator will reproduce various sized spherical voids of activity in the image plane. The collimator performance program can be used to compare the performance of various collimator types, to study the effects of source depth on collimator performance, and to assist in the design of collimators. The theory of the collimator performance equation is discussed, a comparison between the experimental and theoretical LSF values is made, and examples of the application of the technique are presented

  5. Managerial multitasking in the mutual fund industry

    OpenAIRE

    Agarwal, Vikas; Ma, Linlin; Mullally, Kevin

    2015-01-01

    We examine the determinants and consequences of mutual fund managers simultaneously managing multiple funds. Well-performing managers multitask by taking over poorly performing funds or launching new funds. Subsequent to multitasking, funds run by managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the acquired funds improves. Multitasking increases the assets of fund companies but results in a wealth transfer from shareholders ...

  6. Behavioral patterns of environmental performance evaluation programs.

    Science.gov (United States)

    Li, Wanxin; Mauerhofer, Volker

    2016-11-01

    During the past decades numerous environmental performance evaluation programs have been developed and implemented on different geographic scales. This paper develops a taxonomy of environmental management behavioral patterns in order to provide a practical comparison tool for environmental performance evaluation programs. Ten such programs purposively selected are mapped against the identified four behavioral patterns in the form of diagnosis, negotiation, learning, and socialization and learning. Overall, we found that schemes which serve to diagnose environmental abnormalities are mainly externally imposed and have been developed as a result of technical debates concerning data sources, methodology and ranking criteria. Learning oriented scheme is featured by processes through which free exchange of ideas, mutual and adaptive learning can occur. Scheme developed by higher authority for influencing behaviors of lower levels of government has been adopted by the evaluated to signal their excellent environmental performance. The socializing and learning classified evaluation schemes have incorporated dialogue, participation, and capacity building in program design. In conclusion we consider the 'fitness for purpose' of the various schemes, the merits of our analytical model and the future possibilities of fostering capacity building in the realm of wicked environmental challenges. Copyright © 2016 Elsevier Ltd. All rights reserved.

  7. Critical success factors influencing the performance of development projects: An empirical study of Constituency Development Fund projects in Kenya

    Directory of Open Access Journals (Sweden)

    Debadyuti Das

    2017-12-01

    Full Text Available The present work attempts to identify critical success factors (CSFs influencing the performance of development projects based on their key performance indicators (KPIs. It has considered the case of Constituency Development Fund (CDF projects constructed between 2003 and 2011 in Kenya and secured the perceptions of 175 respondents comprising clients, consultants and contractors involved in the implementation of CDF projects on 30 success variables. Findings reveal that individual items constituting these six factors represent six CSFs namely project-related, client-related, consultant-related, contractor-related, supply chain-related, and external environment-related factor. The findings are also relevant to development projects undertaken in other developing countries.

  8. Performance evaluation soil samples utilizing encapsulation technology

    Science.gov (United States)

    Dahlgran, James R.

    1999-01-01

    Performance evaluation soil samples and method of their preparation using encapsulation technology to encapsulate analytes which are introduced into a soil matrix for analysis and evaluation by analytical laboratories. Target analytes are mixed in an appropriate solvent at predetermined concentrations. The mixture is emulsified in a solution of polymeric film forming material. The emulsified solution is polymerized to form microcapsules. The microcapsules are recovered, quantitated and introduced into a soil matrix in a predetermined ratio to form soil samples with the desired analyte concentration.

  9. Analytical Performance Evaluation of Different Switch Solutions

    Directory of Open Access Journals (Sweden)

    Francisco Sans

    2013-01-01

    Full Text Available The virtualization of the network access layer has opened new doors in how we perceive networks. With this virtualization of the network, it is possible to transform a regular PC with several network interface cards into a switch. PC-based switches are becoming an alternative to off-the-shelf switches, since they are cheaper. For this reason, it is important to evaluate the performance of PC-based switches. In this paper, we present a performance evaluation of two PC-based switches, using Open vSwitch and LiSA, and compare their performance with an off-the-shelf Cisco switch. The RTT, throughput, and fairness for UDP are measured for both Ethernet and Fast Ethernet technologies. From this research, we can conclude that the Cisco switch presents the best performance, and both PC-based switches have similar performance. Between Open vSwitch and LiSA, Open vSwitch represents a better choice since it has more features and is currently actively developed.

  10. Performance Evaluation Methods for Assistive Robotic Technology

    Science.gov (United States)

    Tsui, Katherine M.; Feil-Seifer, David J.; Matarić, Maja J.; Yanco, Holly A.

    Robots have been developed for several assistive technology domains, including intervention for Autism Spectrum Disorders, eldercare, and post-stroke rehabilitation. Assistive robots have also been used to promote independent living through the use of devices such as intelligent wheelchairs, assistive robotic arms, and external limb prostheses. Work in the broad field of assistive robotic technology can be divided into two major research phases: technology development, in which new devices, software, and interfaces are created; and clinical, in which assistive technology is applied to a given end-user population. Moving from technology development towards clinical applications is a significant challenge. Developing performance metrics for assistive robots poses a related set of challenges. In this paper, we survey several areas of assistive robotic technology in order to derive and demonstrate domain-specific means for evaluating the performance of such systems. We also present two case studies of applied performance measures and a discussion regarding the ubiquity of functional performance measures across the sampled domains. Finally, we present guidelines for incorporating human performance metrics into end-user evaluations of assistive robotic technologies.

  11. Gender Consequences of a National Performance-Based Funding Model: New Pieces in an Old Puzzle

    Science.gov (United States)

    Nielsen, Mathias Wullum

    2017-01-01

    This article investigates the extent to which the Danish "Bibliometric Research Indicator" (BRI) reflects the performance of men and women differently. The model is based on a differentiated counting of peer-reviewed publications, awarding three and eight points for contributions to "well-regarded" and highly selective journals…

  12. THE POLITICS OF EVALUATION IN CO-FINANCED PROJECTS: THE CASE OF THE SCOTTISH EXECUTIVE AND THE EVALUATION OF THE STRUCTURAL FUNDS

    Directory of Open Access Journals (Sweden)

    Delia M. Costân

    2009-06-01

    Full Text Available This paper combines an analysis of the different theories expressed in the literature in relation to the process of evaluation and their empirical application to the case of a project evaluation undertaken by the Scottish Executive. The evaluation undertaken by the Scottish Executive is analysed in the context of the various theories and hypotheses expressed in the evaluation literature. Insight into the activity undertaken by the Scottish Executive and access to primary documents used, was facilitated by the author’s participation in a six week internship within the Structural Funds Division of the Scottish Executive. The analysis of the evaluation of the co-financed projects in Scotland revealed that the challenges to the process of evaluation in Scotland resulted in part from the existence of different understandings by the various stakeholders involved in the setting of the goals of the evaluation process. The author’s findings on the application of Article 4 in Scotland are that the different interpretations of Article 4 come from the European Commissions’ general approach to evaluation;, the Scottish Executives’ emphasis on meeting the absorption requirements of the Structural Funds and less on detailed evaluation, and the Programme Management Executives’ focus on supporting the project beneficiaries and less on evaluating the projects.

  13. Importance of funding in decommissioning cost estimates

    International Nuclear Information System (INIS)

    Mingst, B.C.

    1987-01-01

    Decommissioning cost estimates have been made by several study groups for the decommissioning of pressurized-water and boiling-water nuclear power stations. The results of these studies are comparable when corrected for inflation and the differences in contingency factors applied by the study groups. The estimated dismantling costs differ far less than a factor of 2 in all cases, despite the design differences found in the plants that were studied. An analysis of the different methods available for funding the dismantling of these facilities shows the much stronger effect that the choice of funding methods has on the net cost of decommissioning. The total cost of dismantling may vary more than a factor of 4 from one funding method to another, assuming current or recent historical inflation rates. The funding methods evaluated include sinking funds, deposits, negative-salvage value depreciation, and insurance. These funding methods are taken from the NRC's Notice of Proposed Rulemaking description of acceptable funding methods. The funding analysis for this study was performed using the DECOST-86 computer code. The evaluation of funding options for a nuclear facility, and the appropriate choice of the funding method best for that facility, are found to be more important than detailed engineering studies in determining the net cost of decommissioning during the early portions of the plant's operating lifetime

  14. Securing decommissioning funds. Why organization matters?

    International Nuclear Information System (INIS)

    Tchapga, F.

    2005-01-01

    Full text: Securing decommissioning funds requires that the financial resources set aside for the purpose of decommissioning be managed prudently. Decommissioning of nuclear power plant is prescribed by National Atomic Laws or by other nuclear legislation. It is a mandatory operation. The operators of nuclear power plants set money aside for that purpose. This is known as 'Decommissioning reserve fund'. Decommissioning implies costs very distant in time. Thus, it is obvious, from an economic point of view, that the funds set aside should be managed. As decommissioning is mandatory, the funds accumulated should be secured. In others words, they should be available when needed. Availability of funds is influenced by endogenous and exogenous factors. Endogenous factors are a matter of design of the reserve funds. They include the management of the funds, its monitoring and control... Availability of funds is influenced by these factors, depending on the rules to which the behaviour of the manager of the funds is subjected. In contrast, exogenous factors deal with the energy context. These factors are mainly the electricity sector organisation and/or the overall economic situation. They are decisive factors of the economic performance of the reserve fund for a given design. Therefore, the requirement of availability of funds, when needed, is a matter of compatibility between the design of the decommissioning funds and the electricity context. Put differently, reserve fund's design need to be consistent with the electricity context's features in respect of the availability of funds. Current reserve funds were designed in a context of monopoly regime. In this context, availability of decommissioning funds was not questionable. At least, as far as the design of the reserve funds is concerned. This is because nuclear generator didn't confront any competition pressure. Electricity prices were set trough rate base mechanism, and all the business risks were borne by the

  15. Strategic performance evaluation in cancer centers.

    Science.gov (United States)

    Delgado, Rigoberto I; Langabeer, James R

    2009-01-01

    Most research in healthcare strategy has focused on formulating or implementing organizational plans and strategies, and little attention has been dedicated to the post-implementation control and evaluation of strategy, which we contend is the most critical aspect of achieving organizational goals. The objective of this study was to identify strategic control approaches used by major cancer centers in the country and to relate these practices to financial performance. Our intent was to expand the theory and practice of healthcare strategy to focused services, such as oncology. We designed a 17-question survey to capture elements of strategy and performance from our study sample, which comprised major cancer hospitals in the United States and shared similar mandates and resource constraints. The results suggest that high-performing cancer centers use more sophisticated analytical approaches, invest greater financial resources in performance analysis, and conduct more frequent performance reviews than do low-performing organizations. Our conclusions point to the need for a more robust approach to strategic assessment. In this article, we offer a number of recommendations for management to achieve strategic plans and goals on the basis of our research. To our knowledge, this study is one of the first to concentrate on the area of strategic control.

  16. Evaluating the Performance of Rijndael Encryption

    Directory of Open Access Journals (Sweden)

    Bogdan CIOBANU

    2012-01-01

    Full Text Available In this paper we present a a comparative analysis of the performance of the Rijndael algorithm, developed with the help of two programming languages, namely C and Matlab. The main goal is to get a full, detailed picture about the functioning of this algorithm. In order to evaluate the performances of the Rijndael algorithm for the two different implementations, we took into account establishing the variable factors within each type of implementation so as to avoid the reasons that might lead to running differences (for instance, the comparison of the two implementations will be performed for the situation in which the encryption key length is the same. We chose to use the traditional algorithm for both types of implementation, in which the input is transformed into 4 blocks of 4 bytes, followed by the handling of each byte from each individual column

  17. What characteristics influence the future performance of the investment funds of shares in Brazil?

    OpenAIRE

    Igor Macedo de Lucena

    2014-01-01

    Segundo Jensen (1968), a indÃstria de fundos mÃtuos de investimento, cuja expansÃo està prevista teoricamente pelo Teorema da SeparaÃÃo enunciado em Sharpe (1964), teria limitaÃÃes no sentido de bater o mercado em termos de performance risco-retorno mensurada pelo alfa de Jensen. Nesta ampla discussÃo, esta dissertaÃÃo se posiciona em sugerir um exercÃcio empÃrico aplicado a um cross-section contendo 243 fundos de investimentos em aÃÃes, categoria Ibovespa Ativo, o qual visa identificar que v...

  18. Effects of performance-based research funding on publication patterns in the social sciences and humanities

    Energy Technology Data Exchange (ETDEWEB)

    Guns, R.; Engels, T.C.E.

    2016-07-01

    Publishing in the social sciences and humanities (SSH) and research evaluation practices are co-evolving. In this paper we present an analysis on how in Flanders the PRFS has shaped and influenced publication practices in the SSH. Our analysis is based on the VABB-SHW, a comprehensive database of research output in the SSH in Flanders. We find that a strong emphasis on WoS publications since 2003 has caused a growth in WoS publications, that is greater than what can be observed in other countries and other fields of science in Flanders. Other mechanisms appear to exist for book publications, which are not indexed in the WoS databases used for the PRFS. (Author)

  19. Evaluating health inequity interventions: applying a contextual (external) validity framework to programs funded by the Canadian Health Services Research Foundation.

    Science.gov (United States)

    Phillips, Kaye; Müller-Clemm, Werner; Ysselstein, Margaretha; Sachs, Jonathan

    2013-02-01

    Including context in the measurement and evaluation of health in equity interventions is critical to understanding how events that occur in an intervention's environment might contribute to or impede its success. This study adapted and piloted a contextual validity assessment framework on a selection of health inequity-related programs funded by the Canadian Health Services Research Foundation (CHSRF) between 1998 and 2006. The two overarching objectives of this study were (1) to determine the relative amount and quality of attention given to conceptualizing, measuring and validating context within CHSRF funded research final reports related to health-inequity; and (2) to contribute evaluative evidence towards the incorporation of context into the assessment and measurement of health inequity interventions. The study found that of the 42/146 CHSRF programs and projects, judged to be related to health inequity 20 adequately reported on the conceptualization, measurement and validation of context. Amongst these health-inequity related project reports, greatest emphasis was placed on describing the socio-political and economical context over actually measuring and validating contextual evidence. Applying a contextual validity assessment framework was useful for distinguishing between the descriptive (conceptual) versus empirical (measurement and validation) inclusion of documented contextual evidence. Although contextual validity measurement frameworks needs further development, this study contributes insight into identifying funded research related to health inequities and preliminary criteria for assessing interventions targeted at specific populations and jurisdictions. This study also feeds a larger critical dialogue (albeit beyond the scope of this study) regarding the relevance and utility of using evaluative techniques for understanding how specific external conditions support or impede the successful implementation of health inequity interventions. Copyright

  20. Performance evaluation of an automotive thermoelectric generator

    Science.gov (United States)

    Dubitsky, Andrei O.

    Around 40% of the total fuel energy in typical internal combustion engines (ICEs) is rejected to the environment in the form of exhaust gas waste heat. Efficient recovery of this waste heat in automobiles can promise a fuel economy improvement of 5%. The thermal energy can be harvested through thermoelectric generators (TEGs) utilizing the Seebeck effect. In the present work, a versatile test bench has been designed and built in order to simulate conditions found on test vehicles. This allows experimental performance evaluation and model validation of automotive thermoelectric generators. An electrically heated exhaust gas circuit and a circulator based coolant loop enable integrated system testing of hot and cold side heat exchangers, thermoelectric modules (TEMs), and thermal interface materials at various scales. A transient thermal model of the coolant loop was created in order to design a system which can maintain constant coolant temperature under variable heat input. Additionally, as electrical heaters cannot match the transient response of an ICE, modelling was completed in order to design a relaxed exhaust flow and temperature history utilizing the system thermal lag. This profile reduced required heating power and gas flow rates by over 50%. The test bench was used to evaluate a DOE/GM initial prototype automotive TEG and validate analytical performance models. The maximum electrical power generation was found to be 54 W with a thermal conversion efficiency of 1.8%. It has been found that thermal interface management is critical for achieving maximum system performance, with novel designs being considered for further improvement.

  1. Performance evaluation recommendations of nuclear power plants outdoor significant civil structures earthquake resistance. Performance evaluation examples

    International Nuclear Information System (INIS)

    2005-06-01

    The Japan Society of Civil Engineers has updated performance evaluation recommendations of nuclear power plants outdoor significant civil structures earthquake resistance in June 2005. Based on experimental and analytical considerations, analytical seismic models of soils for underground structures, effects of vertical motions on time-history dynamic analysis and shear fracture of reinforced concretes by cyclic loadings have been incorporated in new recommendations. This document shows outdoor civil structures earthquake resistance and endurance performance evaluation examples based on revised recommendations. (T. Tanaka)

  2. Pay for performance – motivation to succeed in Advanced Trauma Life Support courses – a question of background or funding?

    Directory of Open Access Journals (Sweden)

    Klein, Roman

    2017-12-01

    Full Text Available Objective: To correlate students’ performance with their professional background and motivation to take part in Advanced Trauma Life Support (ATLS courses. We base our analysis on the self-determination theory that differentiates intrinsic (ambition to perform by individual itself from extrinsic motivation (incentive by external stimuli.Design: We present a non-blinded, monocentric, non-randomized descriptive study of 376 students taking part in an ATLS course at one course site in Germany. Part of a two-day ATLS course are two written tests; we correlate test scores with background information provided by the students in a questionnaire of 13 items (age, sex, adress, board certification, specialty, subspecialty, position, hospital level of care, hospital operator and hospital participation in trauma network, motivation, funding source, condition of funding.Setting: The students were recuited at the BG Trauma Center Ludwigshafen (Germany, a large 528-bed trauma center and one of 13 ATLS course sites in Germany.Participants: 449 ATLS course students taking part in ATLS courses at the above-mentioned course site from February 2009 to May 2010 were sent a questionnaire asking for their background. All 449 course students were eligible to participate. 376 (83.7% questionnaires were returned, pre- and post-test results of all students aquired and included into our calculations. 312 (83% were male and 64 (17% female. The majority (59.3% of recruited students came from trauma surgery, 21.8% from anesthesiology, 8% from general surgery, 4% from abdominal surgery, 0.5% from vascular or thoracic surgery each and 5.9% from other specialties.Results: Neither age, sex, subspecialty, hospital level of care, hospital operator, or hospital participation in trauma network played a role with respect to motivation or test results. The high degree of intrinsic motivation of consultants (92.3% had no impact on their test results. Anesthesiologists were higher

  3. Pay for performance - motivation to succeed in Advanced Trauma Life Support courses - a question of background or funding?

    Science.gov (United States)

    Klein, Roman; Armbruster, Wolfgang; Grotz, Martin; Höner, Bernd; Münzberg, Matthias; Grützner, Paul Alfred; Wölfl, Christoph Georg

    2017-01-01

    Objective: To correlate students' performance with their professional background and motivation to take part in Advanced Trauma Life Support (ATLS) courses. We base our analysis on the self-determination theory that differentiates intrinsic (ambition to perform by individual itself) from extrinsic motivation (incentive by external stimuli). Design: We present a non-blinded, monocentric, non-randomized descriptive study of 376 students taking part in an ATLS course at one course site in Germany. Part of a two-day ATLS course are two written tests; we correlate test scores with background information provided by the students in a questionnaire of 13 items (age, sex, adress, board certification, specialty, subspecialty, position, hospital level of care, hospital operator and hospital participation in trauma network, motivation, funding source, condition of funding). Setting: The students were recuited at the BG Trauma Center Ludwigshafen (Germany), a large 528-bed trauma center and one of 13 ATLS course sites in Germany. Participants: 449 ATLS course students taking part in ATLS courses at the above-mentioned course site from February 2009 to May 2010 were sent a questionnaire asking for their background. All 449 course students were eligible to participate. 376 (83.7%) questionnaires were returned, pre- and post-test results of all students aquired and included into our calculations. 312 (83%) were male and 64 (17%) female. The majority (59.3%) of recruited students came from trauma surgery, 21.8% from anesthesiology, 8% from general surgery, 4% from abdominal surgery, 0.5% from vascular or thoracic surgery each and 5.9% from other specialties. Results: Neither age, sex, subspecialty, hospital level of care, hospital operator, or hospital participation in trauma network played a role with respect to motivation or test results. The high degree of intrinsic motivation of consultants (92.3%) had no impact on their test results. Anesthesiologists were higher motivated

  4. GOVERNING BOARD OF THE PENSION FUND

    CERN Document Server

    2001-01-01

    The Governing Board met on 4 September in its first session since the summer break. On this occasion, the Board invited the two actuaries entrusted with the three-yearly actuarial review of the Fund, MP Actuaires SA (Geneva) and AON Consulting (Brussels), to present their results. Although the two studies were conducted independently and simultaneously, the Governing Board noted that the underlying methodology was remarkably similar in both cases. Both actuaries adopted a stochastic approach, both performed analyses based on the closed-fund method and on the open-fund method, and both made an evaluation of the risks for the appreciation of the Fund's financial position. This methodology produced consistent results which, while not always identical, are superimposable in terms of their order of magnitude. Under the closed-fund method, which involves assessing the Fund's financial situation as if it were closed on the date of calculation without any new members being admitted, both actuaries conclude that the s...

  5. A performance evaluation of personnel identity verifiers

    International Nuclear Information System (INIS)

    Maxwell, R.L.; Wright, L.J.

    1987-01-01

    Personnel identity verification devices, which are based on the examination and assessment of a body feature or a unique repeatable personal action, are steadily improving. These biometric devices are becoming more practical with respect to accuracy, speed, user compatibility, reliability and cost, but more development is necessary to satisfy the varied and sometimes ill-defined future requirements of the security industry. In an attempt to maintain an awareness of the availability and the capabilities of identity verifiers for the DOE security community, Sandia Laboratories continues to comparatively evaluate the capabilities and improvements of developing devices. An evaluation of several recently available verifiers is discussed in this paper. Operating environments and procedures more typical of physical access control use can reveal performance substantially different from the basic laboratory tests

  6. Evaluation of the Service Performance of Ships

    DEFF Research Database (Denmark)

    Andersen, Poul; Borrod, Anne-Sophie; Blanchot, Hervé

    2005-01-01

    A simple method has been established for the evaluation of the service performance of ships. Input data are easily collected daily on board and transformed to a well-defined condition that makes possible the comparison between ships, for instance, sister ships, and between different time periods...... of voyages for the same ship. The procedure has been applied to two ships that are identical, with the exception that one has a conventional propeller, whereas the other one is fitted with a high-efficiency propeller of the KAPPEL type. The results are obtained from a period of 2 years steaming for both...

  7. Performance evaluation of computer and communication systems

    CERN Document Server

    Le Boudec, Jean-Yves

    2011-01-01

    … written by a scientist successful in performance evaluation, it is based on his experience and provides many ideas not only to laymen entering the field, but also to practitioners looking for inspiration. The work can be read systematically as a textbook on how to model and test the derived hypotheses on the basis of simulations. Also, separate parts can be studied, as the chapters are self-contained. … the book can be successfully used either for self-study or as a supplementary book for a lecture. I believe that different types of readers will like it: practicing engineers and resea

  8. Irradiation and performance evaluation of DUPIC fuel

    International Nuclear Information System (INIS)

    Bae, Ki Kwang; Yang, M. S.; Song, K. C.

    2000-05-01

    The objectives of the project is to establish the performance evaluation system for the experimental verification of DUPIC fuel. The scope and content for successful accomplishment of the phase 1 objectives is established as follows : irradiation test of DUPIC fuel at HANARO using a noninstrument capsule, study on the characteristics of DUPIC pellets, development of the analysis technology on the thermal behaviour of DUPIC fuel, basic design of a instrument capsule. The R and D results of the phase 1 are summarized as follows : - Performance analysis technology development of DUPIC fuel by model development for DUPIC fuel, review on the extendability of code(FEMAXI-IV, FRAPCON-3, ELESTRESS). - Study on physical properties of DUPIC fuel by design and fabrication of the equipment for measuring the thermal property. - HANARO irradiation test of simulated DUPIC fuel by the noninstrument capsule development. - PIE and result analysis

  9. Irradiation and performance evaluation of DUPIC fuel

    Energy Technology Data Exchange (ETDEWEB)

    Bae, Ki Kwang; Yang, M S; Song, K C [and others

    2000-05-01

    The objectives of the project is to establish the performance evaluation system for the experimental verification of DUPIC fuel. The scope and content for successful accomplishment of the phase 1 objectives is established as follows : irradiation test of DUPIC fuel at HANARO using a noninstrument capsule, study on the characteristics of DUPIC pellets, development of the analysis technology on the thermal behaviour of DUPIC fuel, basic design of a instrument capsule. The R and D results of the phase 1 are summarized as follows : - Performance analysis technology development of DUPIC fuel by model development for DUPIC fuel, review on the extendability of code(FEMAXI-IV, FRAPCON-3, ELESTRESS). - Study on physical properties of DUPIC fuel by design and fabrication of the equipment for measuring the thermal property. - HANARO irradiation test of simulated DUPIC fuel by the noninstrument capsule development. - PIE and result analysis.

  10. Performance evaluation on vacuum pumps using nanolubricants

    Energy Technology Data Exchange (ETDEWEB)

    Lue, Yeou Feng; Hsu, Yu Chun; Teng, Tun Ping [Dept. of Industrial EducationNational Taiwan Normal University, Taiwan (China)

    2016-09-15

    This study produced alumina (Al{sub 2}O{sub 3}) nanovacuum-pump lubricants (NVALs) by involving the dispersion of Al{sub 2}O{sub 3} nanoparticles in a vacuum-pump lubricant (VAL) with oleic as a dispersant. Experiments were conducted to evaluate the suspension performance, thermal conductivity, viscosity, specific heat, tribological performance and vacuum-pump performance of the NVALs. The experimental results obtained from the vacuum-pump performance tests show that the NVALs with Al{sub 2}O{sub 3} concentration of 0.2 wt.% and oleic concentration of 0.025 wt.% yielded the lowest electricity consumption, conserving 2.39% of electricity compared with the VAL. No marked difference was observed between the temperatures of the vacuum pump using VAL and NVAL. Furthermore, evacuation (i.e., the minimal pressure of -99.5 kPa) was reached faster by the vacuum pump with the NVALs, and the evacuation time could be reduced by 4.91% under optimal conditions. In addition, the vacuum pump with the NVALs exhibited superior overall effectiveness under relatively lower ambient temperatures.

  11. Evaluating cryostat performance for naval applications

    Science.gov (United States)

    Knoll, David; Willen, Dag; Fesmire, James; Johnson, Wesley; Smith, Jonathan; Meneghelli, Barry; Demko, Jonathan; George, Daniel; Fowler, Brian; Huber, Patti

    2012-06-01

    The Navy intends to use High Temperature Superconducting Degaussing (HTSDG) coil systems on future Navy platforms. The Navy Metalworking Center (NMC) is leading a team that is addressing cryostat configuration and manufacturing issues associated with fabricating long lengths of flexible, vacuum-jacketed cryostats that meet Navy shipboard performance requirements. The project includes provisions to evaluate the reliability performance, as well as proofing of fabrication techniques. Navy cryostat performance specifications include less than 1 Wm-1 heat loss, 2 MPa working pressure, and a 25-year vacuum life. Cryostat multilayer insulation (MLI) systems developed on the project have been validated using a standardized cryogenic test facility and implemented on 5-meterlong test samples. Performance data from these test samples, which were characterized using both LN2 boiloff and flow-through measurement techniques, will be presented. NMC is working with an Integrated Project Team consisting of Naval Sea Systems Command, Naval Surface Warfare Center-Carderock Division, Southwire Company, nkt cables, Oak Ridge National Laboratory (ORNL), ASRC Aerospace, and NASA Kennedy Space Center (NASA-KSC) to complete these efforts. Approved for public release; distribution is unlimited. This material is submitted with the understanding that right of reproduction for governmental purposes is reserved for the Office of Naval Research, Arlington, Virginia 22203-1995.

  12. Monitoring and Evaluating Government Performance in Botswana

    Directory of Open Access Journals (Sweden)

    E. K. Botlhale

    2015-03-01

    Full Text Available In an era characterised by fiscal stress in the post-global recession era, clichés such as ‘bang for the buck’ are commonplace. Governments are under increasing pressure to spend limited public resources in efficient and  effective ways. Efficient and  effective governments are a necessary, though not sufficient, condition for economic development. Hence, governments have adopted performance-improving interventions such as New Public Management. Botswana jumped into the bandwagon of public sector reforms in the 1990s through interventions such as Performance-based Management Systems. The focus was almost entirely on performance enhancement to the neglect of performance measurement through a result-based Monitoring and Evaluation (M&E framework. However, in 2009, the government decided to mainstream M&E into the development planning regime. Since the M&E tool is still in draft form, Botswana is very favourably circumstanced to learn from others. Meanwhile essentials to do are: attitudinal change, shared vision on M&E, stakeholder management and demand and use of M&E information by policy-makers such as Members of Parliament.

  13. Performance evaluations of a geothermal power plant

    International Nuclear Information System (INIS)

    Coskun, C.; Oktay, Z.; Dincer, I.

    2011-01-01

    Thermodynamic analysis of an operational 7.5 MWe binary geothermal power plant in Tuzla-Turkey is performed, through energy and exergy, using actual plant data to assess its energetic and exergetic performances. Eight performance-related parameters, namely total exergy destruction ratio, component exergy destruction ratio, dimensionless exergy destruction, energetic renewability ratio, exergetic renewability ratio, energetic reinjection ratio, exergetic reinjection ratio and improvement potential are investigated. Energy and exergy losses/destructions for the plant and its units are determined and illustrated using energy and exergy flow diagrams. The largest energy and exergy losses occur in brine reinjection unit. The variation of the plant energy efficiency is found between 6% and 12%. Exergy efficiency values change between 35 and 49%. The annual average energy and exergy efficiencies are found as 9.47% and 45.2%, respectively. - Highlights: → Investigation of a geothermal system energetically and exergetically. → Performance assessment of the system through energy and exergy efficiencies. → Utilization of temperature distribution in exergy calculations. → Evaluation of eight energetic and exergetic parameters for the system.

  14. Irradiated fuel performance evaluation technology development

    International Nuclear Information System (INIS)

    Koo, Yang Hyun; Bang, J. G.; Kim, D. H.

    2012-01-01

    Alpha version performance code for dual-cooled annular fuel under steady state operation, so called 'DUOS', has been developed applying performance models and proposed methodology. Furthermore, nonlinear finite element module which could be integrated into transient/accident fuel performance code was also developed and evaluated using commercial FE code. The first/second irradiation and PIE test of annular pellet for dual-cooled annular fuel in the world have been completed. In-pile irradiation test DB of annular pellet up to burnup of 10,000 MWd/MTU through the 1st test was established and cracking behavior of annular pellet and swelling rate at low temperature were studied. To do irradiation test of dual-cooled annular fuel under PWR's simulating steady-state conditions, irradiation test rig/rod design/manufacture of mock-up/performance test have been completed through international collaboration program with Halden reactor project. The irradiation test of large grain pellets has been continued from 2002 to 2011 and completed successfully. Burnup of 70,000 MWd/MTU which is the highest burnup among irradiation test pellets in domestic was achieved

  15. An Analysis of Internally Funded Learning and Teaching Project Evaluation in Higher Education

    Science.gov (United States)

    Huber, Elaine; Harvey, Marina

    2016-01-01

    Purpose: In the higher education sector, the evaluation of learning and teaching projects is assuming a role as a quality and accountability indicator. The purpose of this paper is to investigate how learning and teaching project evaluation is approached and critiques alignment between evaluation theory and practice. Design/Methodology/Approach:…

  16. Performance-based financing with GAVI health system strengthening funding in rural Cambodia: a brief assessment of the impact.

    Science.gov (United States)

    Matsuoka, Sadatoshi; Obara, Hiromi; Nagai, Mari; Murakami, Hitoshi; Chan Lon, Rasmey

    2014-07-01

    Though Cambodia made impressive gains in immunization coverage between the years 2000 and 2005, it recognized several health system challenges to greater coverage of immunization and sustainability. The Global Alliance for Vaccines and Immunization (GAVI) opened a Health System Strengthening (HSS) funding window in 2006. To address the health system challenges, Cambodia has been receiving the GAVI HSS fund since October 2007. The major component of the support is performance-based financing (PBF) for maternal, neonatal and child health (MNCH) services. To examine the impact of the PBF scheme on MNCH services and administrative management in rural Cambodia. Quantitative and qualitative studies were conducted in Kroch Chhmar Operational District (OD), Cambodia. Quantitative analyses were conducted on the trends of the numbers of MNCH services. A brief analysis was conducted using qualitative data. After the commencement of the PBF support, the volume of MNCH services was significantly boosted. In addition, strengthened financial and operational management was observed in the study area. However, the quality of the MNCH services was not ensured. Technical assistance, rather than the PBF scheme, was perceived by stakeholders to play a vital role in increasing the quality of the services. To improve the quality of the health services provided, it is better to include indicators on the quality of care in the PBF scheme. Mutual co-operation between PBF models and technical assistance may ensure better service quality while boosting the quantity. A robust but feasible data validation mechanism should be in place, as a PBF could incentivize inaccurate reporting. The capacity for financial management should be strengthened in PBF recipient ODs. To address the broader aspects of MNCH, a balanced input of resources and strengthening of all six building blocks of a health system are necessary. Published by Oxford University Press in association with The London School of Hygiene

  17. Evaluation of Performance Indexes of Emergency Department

    Directory of Open Access Journals (Sweden)

    Alireza Baratloo

    2015-02-01

    Full Text Available Introduction: The importance of evaluating performance indicators in the emergency department, as one of the most important departments of hospital, is obvious to everyone. Therefore, in this study we aimed to appraise the five performance indicators, approved by the ministry of health, in Shohadaye Tajrish hospital, Tehran, Iran. Methods: In a descriptive cross-sectional study based on the profiles of all the patients admitted to the emergency department, performance indicators in the emergency department were evaluated. The study was divided into 2 parts about the establishment of emergency medicine system and training the medical staff: the first 6 months of 1392 and the second. Then these 2 periods were compared using Mann-Whitney U test while P< 0.05 was considered as the level of significance. Results: Of the studied indicators, mean triage time was 6.04 minutes in the first 6 months which was reduced to 1.5 minutes in the second 6 months (p=0.016. In addition, the percentage of patients who moved out of the department in 12 hours was lowered from 97.3% in the first period to 90.4% in the second (p=0.004. While, the percentage of patients who were decided upon in 6 hours (p=0.2, unsuccessful CPR percentage (p=0.34 and patients discharged against medical advice (p=0.42 showed no significant difference. Conclusion: The results of this study showed that the establishment of the emergency medicine system in the emergency department could lead to more efficient triage. Due to the differences made after their establishment including: different pattern of the patients admitted, increased stay of the patients in the department due to their need for prolonged intensive care, a raise in patient referral to the hospital by pre-hospital services and a higher percentage of occupied hospital beds, other indicators have not shown a significant improvement.

  18. The European Regional Development Fund and Island Regions: An Evaluation of the 2000-06 and 2007-13 Programs

    Directory of Open Access Journals (Sweden)

    Harvey W. Armstrong

    2012-11-01

    Full Text Available This paper presents results from a regional policy evaluation study conducted for the European Commission. The study examined the impact of the European Regional Development Fund and Cohesion Fund on EU regions with ‘specific geographical characteristics’, namely islands, mountain regions and sparsely populated areas. These types of regions have been attracting increasing EU regional policy attention and their economic development is considered important in helping the EU to attain its important ‘territorial cohesion’ objective. The focus of this paper is on the island regions. Evaluation of island regions in their own right has not been undertaken before by the EU. The study focuses on the 2000-06 and (still on-going 2007-13 EU regional policy programs. The paper presents the methodology adopted by the study before turning to the main findings concerning the types of policy initiatives adopted in the island regions, and the appropriateness of the policies used for the economic situation faced by the islands. The islands encompassed by the study are all normal sub-national regions of EU member states. Islands with an unusual degree of administrative autonomy (e.g. the Outermost Regions were excluded.

  19. Performance Evaluations and Victim Satisfaction With State Compensation for Violent Crime: A Prospective Study.

    Science.gov (United States)

    Kunst, M J J; Koster, N N; Van Heugten, J

    2015-07-29

    Satisfaction with a particular good or service represents an affective state in response to an individual's evaluation of the performance of that good or service. This evaluation involves a comparison between perceived actual performance and prior expectations. The current study used this theoretical idea to study violent crime victims' levels of satisfaction with services provided by a Dutch state compensation scheme. One hundred and seventy-seven victims of violent crime who had applied for compensation from the Dutch Violent Offences Compensation Fund (DVOCF) participated in two brief telephone interviews: one before receipt of the fund's decision upon their request for compensation and one after receipt of that decision. Based on the theories of distributive and procedural justice, measurement of prior expectations was differentiated in expectations about receipt of compensation, treatment by fund workers, and information provision. Results suggested that satisfaction with the DVOCF depended on fulfillment of expectations about treatment by fund workers and information provision, but not on fulfillment of expectations about receipt of compensation. Other predictors of victim satisfaction were as follows: duration of the application procedure, approval upon request for compensation, and satisfaction assessed during the first interview. Results were discussed in light of theory, policy implications, study limitations, and future research. © The Author(s) 2015.

  20. CATTLE PRODUCTIVE PERFORMANCE EVALUATION CONFINED SUBMITTED IMMUNOCASTRATION

    Directory of Open Access Journals (Sweden)

    J. M. Maluf

    2016-09-01

    Full Text Available In order to evaluate the performance and carcass characteristics of cattle cross breeds ½ Aberdeen Angus x ½Nelore and Nelore confined submitted to immunocastration 218 male animals were used, feedlot, averaging 342 kg, divided into three experimental groups, T1: 117 steers ½ Angus x ½ Nelore no castrated (ANC, T2: 51 Nelore steers uncastrated (NNC and T3: 50 Nellore steers immunocastrated (NIC. The experiment lasted 144 days of confinement. The selection of animals for group formation was according to the individual weight, breed, sex condition and age. For immunocastration it wasused Bopriva® vaccine. The rating was finished according to the parameter used by the meatpacking industry ranging from 1 to 5. The experimental design was completely randomized in three groups. For the analyzes the variables studied statistics were submitted to analysis of variance (ANOVA and Tukey test both at the 5% level of significance. The results showed differences (p <0.01 at various features of productive performance and carcass between treatments. For slaughter weight, the ANC animals were higher (with 582.1 kg to Nelore, regardless of sexual condition, and the NNC were in turn heavier than the NIC, 527.4 and 503.7 respectively. Finally, it observed that the use of immunocastration in Nellore animals provided a decrease in productive performance of confined animals, but provided better finish carcass similar to crossbred (ANC.

  1. Implementation and Impacts of Pay-for-Performance: The 2010 Teacher Incentive Fund (TIF) Grantees after Three Years. NCEE Study Snapshot. NCEE 2016-2006

    Science.gov (United States)

    Wellington, Alison; Chiang, Hanley; Hallgren, Kristin; Speroni, Cecilia; Herrmann, Mariesa; Burkander, Paul

    2016-01-01

    The Teacher Incentive Fund (TIF) provides grants to support performance-based compensation systems for teachers and principals in high-need schools. The goal of the grants is to increase the number of high-performing teachers in high-need schools by rewarding educators for improving students' achievement. The report on which this snapshot is based…

  2. 48 CFR 1252.216-72 - Performance evaluation plan.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Performance evaluation....216-72 Performance evaluation plan. As prescribed in (TAR) 48 CFR 1216.406(b), insert the following clause: Performance Evaluation Plan (OCT 1994) (a) A Performance Evaluation Plan shall be unilaterally...

  3. Willingness to pay for National Health Insurance Fund among public servants in Juba City, South Sudan: a contingent evaluation.

    Science.gov (United States)

    Basaza, Robert; Alier, Paul Kon; Kirabira, Peter; Ogubi, David; Lako, Richard Lino Loro

    2017-08-30

    This study assessed willingness to pay for National Health Insurance Fund (NHIF) among public servants in Juba City. NHIF is the proposed health insurance scheme for South Sudan and aims at achieving universal health coverage for the entire nation's population. One compounding issue is that over the years, governments' spending on healthcare has been decreasing from 8.4% of national budget in 2007 to only 2.2% in 2012. A cross-sectional study design using contingent evaluation was employed; data on willingness to pay was collected from 381 randomly selected respondents and 13 purposively selected key informants working for the national, state and Juba County in September 2015. Qualitative data were analysed using conceptual content analysis. T-tests and linear regressions were performed to determine association between WTP for NHIF and independent variables. Up to 381 public servants were interviewed, of which 68% indicated willingness to pay varying percentages of total monthly individual income for NHIF. Over two-thirds (67.8%) of those willing to pay could pay up to 5% of their total monthly income, 22.9% could pay up to 10% and the rest could pay 25%. Over 80% were willing to pay up to 50 SSP (1 USD = 10 SSP) premiums for medical consultation, laboratory services and drugs. The main factors influencing the respondents' decisions were awareness, alternative sources of income, household size, insurance cover and religion. Willingness to pay is mainly influenced by awareness, alternative sources of individual income, household size, insurance cover and religion. Most of the public servants were aware of and willing to pay for NHIF and prefer a premium of up to 5% of total monthly income. There is need to create awareness and reach out to those who do not know about the scheme in addition to a detailed analysis of other stakeholders. Consideration could be made by the Government of South Sudan to start the scheme at the earliest opportunity since the majority of

  4. Board of Director Configurations in Mutual Funds Sponsors: A Board-Level Analysis of Director Performance and Ownership

    National Research Council Canada - National Science Library

    Fraser, Steven

    2003-01-01

    ... (or a cluster of funds); referred to as a Multiple Board Configuration (MBC). In a sample of the largest open-end mutual fund sponsors, I find MBC boards have significantly higher board-level objective-adjusted excess returns than SBC boards...

  5. Funding strategies for wilderness management

    Science.gov (United States)

    Carolyn Alkire

    2000-01-01

    Funding wilderness protection will continue to be a challenge for public land managers. With continuing competition for federal funds and balanced budget goals, other sources of funds may be necessary to supplement annual federal appropriations. This paper identifies and evaluates five potential funding strategies and provides examples of each that are currently in use...

  6. Investment criteria of private equity/venture capital funds and financial performance of companies before initial investment

    Directory of Open Access Journals (Sweden)

    Zbigniew Drewniak

    2013-12-01

    Full Text Available Understanding and recognizing of the investment criteria of private equity/venture capital seems to be crucial for all parties of this market. Entrepreneurs, who are looking for the capital for financing their businesses, can easier find the most proper fund and better formulate their expectations. For the funds, specifying theirs investment criteria is the reflection of the investment strategy leading to its better wording. The fund's investmentcriteriaare also importantfor investors - capital donors. First of allthey wantto knowin whattypes of assetswill be investedtheirfunds. That can help to assess the risk involved in the investment and calculate the expected rate of return. In addition topresentation ofthe investment criteriaof private equity/venture capital funds, thepaper refers to thecompany's financialsituationbefore investments. That draw the company profile, the funds are most interested to invest. The turnover, net profit, profitability ratios and liquidity were analyzed to specify this profile.

  7. Hedge Fund Contagion and Liquidity

    OpenAIRE

    Nicole M. Boyson; Christof W. Stahel; Rene M. Stulz

    2008-01-01

    Using hedge fund indices representing eight different styles, we find strong evidence of contagion within the hedge fund sector: controlling for a number of risk factors, the average probability that a hedge fund style index has extreme poor performance (lower 10% tail) increases from 2% to 21% as the number of other hedge fund style indices with extreme poor performance increases from zero to seven. We investigate how changes in funding and asset liquidity intensify this contagion, and find ...

  8. Barrier performance researches for the safety evaluation

    International Nuclear Information System (INIS)

    Niibori, Yuichi

    2004-01-01

    So far, many researches were conducted to propose a scientific evidence (a safety case) for the realization of geological disposal in Japan. In order to regulate the geological disposal system of radioactive wastes, on the other hand, we need also a holistic approach to integrate various data related for the performance evaluations of the engineered barrier system and the natural barrier system. However, the scientific bases are not sufficient to establish the safety regulation for such a natural system. For example, we often apply the specific probability density function (PDF) to the uncertainty of barrier system due to the essential heterogeneity. However, the applicability is not clear in the regulation point of view. A viewpoint to understand such an applicability of PDFs has been presented. (author)

  9. Performance Evaluation of the SPT-140

    Science.gov (United States)

    Manzella, David; Sarmiento, Charles; Sankovic, John; Haag, Tom

    1997-01-01

    As part of an on-going cooperative program with industry, an engineering model SPT-140 Hall thruster, which may be suitable for orbit insertion and station-keeping of geosynchronous communication satellites, was evaluated with respect to thrust and radiated electromagnetic interference at the NASA Lewis Research Center. Performance measurements were made using a laboratory model propellant feed system and commercial power supplies. The engine was operated in a space simulation chamber capable of providing background pressures of 4 x 10(exp -6) Torr or less during thruster operation. Thrust was measured at input powers ranging from 1.5 to 5 kilowatts with two different output filter configurations. The broadband electromagnetic emission spectra generated by the engine was also measured for a range of frequencies from 0.01 to 18,000 Mhz. These results are compared to the noise threshold of the measurement system and MIL-STD-461C where appropriate.

  10. Performance evaluation of a computed radiography system

    Energy Technology Data Exchange (ETDEWEB)

    Roussilhe, J.; Fallet, E. [Carestream Health France, 71 - Chalon/Saone (France); Mango, St.A. [Carestream Health, Inc. Rochester, New York (United States)

    2007-07-01

    Computed radiography (CR) standards have been formalized and published in Europe and in the US. The CR system classification is defined in those standards by - minimum normalized signal-to-noise ratio (SNRN), and - maximum basic spatial resolution (SRb). Both the signal-to-noise ratio (SNR) and the contrast sensitivity of a CR system depend on the dose (exposure time and conditions) at the detector. Because of their wide dynamic range, the same storage phosphor imaging plate can qualify for all six CR system classes. The exposure characteristics from 30 to 450 kV, the contrast sensitivity, and the spatial resolution of the KODAK INDUSTREX CR Digital System have been thoroughly evaluated. This paper will present some of the factors that determine the system's spatial resolution performance. (authors)

  11. NREL Evaluates Advanced Solar Inverter Performance for Hawaiian Electric

    Science.gov (United States)

    Companies | Energy Systems Integration Facility | NREL NREL Evaluates Advanced Solar Inverter Performance for Hawaiian Electric Companies NREL Evaluates Advanced Solar Inverter Performance for Hawaiian performance and impacts of today's advanced solar inverters, as well as proprietary feedback to the inverter

  12. Performance Evaluation of the United Nations Environment ...

    Science.gov (United States)

    A request for technical collaboration between the UNEP and the US EPA resulted in the establishment of a MCRADA. The purpose of this agreement was to evaluate an air quality monitoring system (referred to as the UNEP pod) developed by the UNEP for use in environmental situations where more sophisticated monitoring instrumentation was not available. The US EPA has conducted numerous evaluations of other similar sensor pods at its Research Triangle Park, NC research campus and has trained staff as well as established research designs for such efforts. Under the terms of the MCRADA, the US EPA would operate the pod using UNEP provided operating procedures in a manner consistent with its planned intent of deployment. The US EPA would collect air quality monitoring data from the pod involving select environmental measures over a period of approximately one month. Reference monitoring data collected from collocated federal regulatory monitors would be used to establish a comparison between the two systems and thus establishment of performance characteristics. In addition, the US EPA would provide feedback information to the UNEP as to observed ease of use features of the pod that would be beneficial in its future evolution and deployment. The UNEP recently developed a multipollutant sensor pod called the UNEP Air Quality Monitoring Unit, herein simply defined as the UNEP pod (http://aqicn.org/faq/2015-10-28/unep-air-quality-monitoring-station/). First introduced in 20

  13. Air curtain incinerator equipment performance evaluation report

    Energy Technology Data Exchange (ETDEWEB)

    1987-01-01

    About 50 tonnes of oil-contaminated debris and related wood products were successfully incinerated in a 10-h performance evaluation of a mobile air curtain incinerator. The test was conducted to evaluate the incinerator's ability to combust oil-contaminated trash and debris obtained from oil spill sites. The operating principle of the apparatus involves a diesel engine driving an air blower to deliver ca 20,000 scfm of air into a 5-m long manifold angled at a 30{degree} slope into an incineration tank. A bottomhole aerator is lowered to the bottom of the tank and compressed air is injected into the aerator to control burn efficiency. The blower is engaged once the debris in the tank is burning sufficiently after starting a fire in the debris. The air curtain effect created by the air deflecting off the opposite wall from the blower manifold and bouncing off the bottom and up the side of the incineration tank results in repeated combustion of the gases, thereby significantly reducing the degree of visible smoke emission. The unit is capable of incinerating ca 5 tonnes/h and of generating ca 16 m{sup 3}/h of hot water which can be used for flushing spill sites and cleaning shorelines. 12 figs.

  14. Performance Evaluation of Frequent Subgraph Discovery Techniques

    Directory of Open Access Journals (Sweden)

    Saif Ur Rehman

    2014-01-01

    Full Text Available Due to rapid development of the Internet technology and new scientific advances, the number of applications that model the data as graphs increases, because graphs have highly expressive power to model a complicated structure. Graph mining is a well-explored area of research which is gaining popularity in the data mining community. A graph is a general model to represent data and has been used in many domains such as cheminformatics, web information management system, computer network, and bioinformatics, to name a few. In graph mining the frequent subgraph discovery is a challenging task. Frequent subgraph mining is concerned with discovery of those subgraphs from graph dataset which have frequent or multiple instances within the given graph dataset. In the literature a large number of frequent subgraph mining algorithms have been proposed; these included FSG, AGM, gSpan, CloseGraph, SPIN, Gaston, and Mofa. The objective of this research work is to perform quantitative comparison of the above listed techniques. The performances of these techniques have been evaluated through a number of experiments based on three different state-of-the-art graph datasets. This novel work will provide base for anyone who is working to design a new frequent subgraph discovery technique.

  15. Performance evaluations of the ATST secondary mirror

    Science.gov (United States)

    Cho, Myung K.; DeVries, Joseph; Hansen, Eric

    2007-09-01

    The Advanced Technology Solar Telescope (ATST) has a 4.24m off-axis primary mirror designed to deliver diffraction-limited images of the sun. Its baseline secondary mirror (M2) design uses a 0.65m diameter Silicon Carbide mirror mounted kinematically by a bi-pod flexure mechanism at three equally spaced locations. Unlike other common telescopes, the ATST M2 is to be exposed to a significant solar heat loading. A thermal management system will be developed to accommodate the solar loading and minimize "mirror seeing effect" by controlling the temperature difference between the M2 optical surface and the ambient air at the site. Thermo-elastic analyses for steady state thermal behaviors of the ATST secondary mirror was performed using finite element analysis by I-DEAS TM and PCFRINGE TM for the optical analysis. We examined extensive heat transfer simulation cases and their results are discussed. The goal of this study is to evaluate the optical performances of M2 using thermal models and mechanical models. Thermal responses from the models enable us to manipulate time dependent thermal loadings to synthesize the operational environment for the design and development of TMS.

  16. Performance Evaluation of Photovoltaic Solar Air Conditioning

    Directory of Open Access Journals (Sweden)

    Snegirjovs A.

    2016-12-01

    Full Text Available Information on the electrical-driven solar air conditioning (SAC is rather scanty. A considerable body of technical data mostly concerns large-scale photo-voltaic solar air conditioning (PV-SAC systems. Reliable information about the energy output has arisen only in recent years; however, it is still not easily accessible, and sometimes its sources are closed. Despite these facts, solar energy researchers, observers and designers devote special attention to this type of SAC systems. In this study, performance evaluation is performed for the PV-SAC technology, in which low-power (up to 15 kWp of cooling power on average systems are used. Such a system contains a PV electric-driven compression chiller with cold and heat sensible thermal storage capacities, and a rejected energy unit used for preheating domestic hot water (DHW. In a non-cooling season, it is possible to partly employ the system in the reverse mode for DHW production. In this mode, the ambient air serves as a heat source. Besides, free cooling is integrated in the PV-SAC concept.

  17. Performance Evaluation of Photovoltaic Solar Air Conditioning

    Science.gov (United States)

    Snegirjovs, A.; Shipkovs, P.; Lebedeva, K.; Kashkarova, G.; Migla, L.; Gantenbein, P.; Omlin, L.

    2016-12-01

    Information on the electrical-driven solar air conditioning (SAC) is rather scanty. A considerable body of technical data mostly concerns large-scale photo-voltaic solar air conditioning (PV-SAC) systems. Reliable information about the energy output has arisen only in recent years; however, it is still not easily accessible, and sometimes its sources are closed. Despite these facts, solar energy researchers, observers and designers devote special attention to this type of SAC systems. In this study, performance evaluation is performed for the PV-SAC technology, in which low-power (up to 15 kWp of cooling power on average) systems are used. Such a system contains a PV electric-driven compression chiller with cold and heat sensible thermal storage capacities, and a rejected energy unit used for preheating domestic hot water (DHW). In a non-cooling season, it is possible to partly employ the system in the reverse mode for DHW production. In this mode, the ambient air serves as a heat source. Besides, free cooling is integrated in the PV-SAC concept.

  18. Evaluation of Energy Efficiency Performance of Heated Windows

    Science.gov (United States)

    Jammulamadaka, Hari Swarup

    The study about the evaluation of the performance of the heated windows was funded by the WVU Research Office as a technical assistance award at the 2014 TransTech Energy Business Development Conference to the Green Heated Glass company/project owned by Frank Dlubak. The award supports a WVU researcher to conduct a project important for commercialization. This project was awarded to the WVU Industrial Assessment Center in 2015. The current study attempted to evaluate the performance of the heated windows by developing an experimental setup to test the window at various temperatures by varying the current input to the window. The heated double pane window was installed in an insulated box. A temperature gradient was developed across the window by cooling one side of the window using gel based ice packs. The other face of the window was heated by passing current at different wattages through the window. The temperature of the inside and outside panes, current and voltage input, room and box temperature were recorded, and used to calculate the apparent R-value of the window when not being heated vs when being heated. It has been concluded from the study that the heated double pane window is more effective in reducing heat losses by as much as 50% than a non-heated double pane window, if the window temperature is maintained close to the room temperature. If the temperature of the window is much higher than the room temperature, the losses through the window appear to increase beyond that of a non-heated counterpart. The issues encountered during the current round of experiments are noted, and recommendations provided for future studies.

  19. Performance Evaluation of an Experimental Turbojet Engine

    Science.gov (United States)

    Ekici, Selcuk; Sohret, Yasin; Coban, Kahraman; Altuntas, Onder; Karakoc, T. Hikmet

    2017-11-01

    An exergy analysis is presented including design parameters and performance assessment, by identifying the losses and efficiency of a gas turbine engine. The aim of this paper is to determine the performance of a small turbojet engine with an exergetic analysis based on test data. Experimental data from testing was collected at full-load of small turbojet engine. The turbojet engine exhaust data contains CO2, CO, CH4, H2, H2O, NO, NO2, N2 and O2 with a relative humidity of 35 % for the ambient air of the performed experiments. The evaluated main components of the turbojet engine are the air compressor, the combustion chamber and the gas turbine. As a result of the thermodynamic analysis, exergy efficiencies (based on product/fuel) of the air compressor, the combustion chamber and the gas turbine are 81.57 %, 50.13 % and 97.81 %, respectively. A major proportion of the total exergy destruction was found for the combustion chamber at 167.33 kW. The exergy destruction rates are 8.20 %, 90.70 % and 1.08 % in the compressor, the combustion chamber and the gas turbine, respectively. The rates of exergy destruction within the system components are compared on the basis of the exergy rate of the fuel provided to the engine. Eventually, the exergy rate of the fuel is calculated to be 4.50 % of unusable due to exergy destruction within the compressor, 49.76 % unusable due to exergy destruction within the combustion chamber and 0.59 % unusable due to exergy destruction within the gas turbine. It can be stated that approximately 55 % of the exergy rate of the fuel provided to the engine can not be used by the engine.

  20. INTEGRATED WATER TREATMENT SYSTEM PERFORMANCE EVALUATION

    International Nuclear Information System (INIS)

    Sexton, R.A.; Meeuwsen, W.E.

    2009-01-01

    This document describes the results of an evaluation of the current Integrated Water Treatment System (IWTS) operation against design performance and a determination of short term and long term actions recommended to sustain IWTS performance. The KW IWTS was designed to treat basin water and maintain basin clarity during fuel retrieval, washing, and packaging activities in the KW Basin. The original design was based on a mission that was limited to handling of KW Basin fuel. The use of the IWTS was extended by the decision to transfer KE fuel to KW to be cleaned and packaged using KW systems. The use was further extended for the packaging of two more Multi-Canister Overpacks (MCOs) containing legacy fuel and scrap. Planning is now in place to clean and package Knock Out Pot (KOP) Material in MCOs using these same systems. Some washing of KOP material in the Primary Cleaning Machine (PCM) is currently being done to remove material that is too small or too large to be included in the KOP Material stream. These plans will require that the IWTS remain operational through a campaign of as many as 30 additional MCOs, and has an estimated completion date in 2012. Recent operation of the IWTS during washing of canisters of KOP Material has been impacted by low pressure readings at the inlet of the P4 Booster Pump. The system provides a low pressure alarm at 10 psig, and low-low pressure interlock at 5 psig. The response to these low readings has been to lower total system flow to between 301 and 315 gpm. In addition, the IWTS operator has been required to operate the system in manual mode and make frequent adjustments to the P4 booster pump speed during PCM washes. The preferred mode of operation is to establish a setpoint of 317 gpm for the P4 pump speed and run IWTS in semi-automatic mode. Based on hydraulic modeling compared to field data presented in this report, the low P4 inlet pressure is attributed to restrictions in the 2-inch KOP inlet hose and in the KOP itself

  1. FORECASTING OF PERFORMANCE EVALUATION OF NEW VEHICLES

    Directory of Open Access Journals (Sweden)

    O. S. Krasheninin

    2016-12-01

    Full Text Available Purpose. The research work focuses on forecasting of performance evaluation of the tractive and non-tractive vehicles that will satisfy and meet the needs and requirements of the railway industry, which is constantly evolving. Methodology. Analysis of the technical condition of the existing fleet of rolling stock (tractive and non-tractive of Ukrainian Railways shows a substantial reduction that occurs in connection with its moral and physical wear and tear, as well as insufficient and limited purchase of new units of the tractive and non-tractive rolling stock in the desired quantity. In this situation there is a necessity of search of the methods for determination of rolling stock technical characteristics. One of such urgent and effective measures is to conduct forecasting of the defining characteristics of the vehicles based on the processes of their reproduction in conditions of limited resources using a continuous exponential function. The function of the growth rate of the projected figure degree for the vehicle determines the logistic characteristic that with unlimited resources has the form of an exponent, and with low ones – that of a line. Findings. The data obtained according to the proposed method allowed determining the expected (future value, that is the ratio of load to volume of the body for non-tractive rolling stock (gondola cars and weight-to-power for tractive rolling stock, the degree of forecast reliability and the standard forecast error, which show high prediction accuracy for the completed procedure. As a result, this will allow estimating the required characteristics of vehicles in the forecast year with high accuracy. Originality. The concept of forecasting the characteristics of the vehicles for decision-making on the evaluation of their prospects was proposed. Practical value. The forecasting methodology will reliably determine the technical parameters of tractive and non-tractive rolling stock, which will meet

  2. Stroke and myocardial infarction: a comparative systematic evaluation of gender-specific analysis, funding and authorship patterns in cardiovascular research.

    Science.gov (United States)

    Oertelt-Prigione, Sabine; Wiedmann, Silke; Endres, Matthias; Nolte, Christian H; Regitz-Zagrosek, Vera; Heuschmann, Peter

    2011-01-01

    Major gender differences exist in cardiovascular diseases and lead to different outcomes in women and men. However, attention and incorporation of sex-/gender-specific research might vary among disciplines. We therefore conducted a systematic review comparing publication characteristics and trends between stroke and myocardial infarction (MI) with respect to sex- and gender-related aspects. A systematic literature search was performed in PubMed to identify gender-/sex-related articles published for stroke and MI between 1977 and 2008. A specifically designed text mining program was used, and all literature was rated by two independent investigators. Publications were classified according to type of research performed, publication year, funding, geographical location, and gender of first and last authors. 962 articles were retrieved and limited to 405 (42%) gender-relevant publications; 131 on stroke and 274 on MI. Type of performed research differed, especially in disease management, which received little attention (17%) in stroke, while representing the major focus in MI (40%). In both areas, clinical presentation received little attention (3 and 5%). Although publications progressively increased in both fields, an 8- to 10-year time gap emerged for stroke compared to MI. Last authors in both areas were predominantly men, but female last authorship is increasing more significantly over time in the field of stroke. Research on sex and gender differences in MI and stroke is largely underfunded, particularly by the EU. The data demonstrate how sex-/gender-specific research differs between specialties, most likely due to the diverse interest, funding opportunities and authorship distributions identified. Copyright © 2011 S. Karger AG, Basel.

  3. 48 CFR 3052.216-72 - Performance evaluation plan.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Performance evaluation... CONTRACT CLAUSES Text of Provisions and Clauses 3052.216-72 Performance evaluation plan. As prescribed in... Evaluation Plan (DEC 2003) (a) A Performance Evaluation Plan shall be unilaterally established by the...

  4. Ex-ante Evaluation of Publicly Funded R&D Projects

    DEFF Research Database (Denmark)

    Bulathsinhala, Nadika Anuruddhi

    2015-01-01

    can contribute to the further development of explorative and existing energy technologies that meet climate challenges. The aim of this paper is to investigate the ex-ante evaluation process of a Danish energy program with regard to exploration. The paper applies a qualitative approach, combining in...

  5. DRACS thermal performance evaluation for FHR

    International Nuclear Information System (INIS)

    Lv, Q.; Wilson, D. F.; Sabharwall, P.

    2015-01-01

    Direct Reactor Auxiliary Cooling System (DRACS) is a passive decay heat removal system proposed for the Fluoride-salt-cooled High-temperature Reactor (FHR) that combines coated particle fuel and a graphite moderator with a liquid fluoride salt as the coolant. The DRACS features three coupled natural circulation/convection loops, relying completely on buoyancy as the driving force. These loops are coupled through two heat exchangers, namely, the DRACS Heat Exchanger and the Natural Draft Heat Exchanger. In addition, a fluidic diode is employed to minimize the parasitic flow into the DRACS primary loop and correspondingly the heat loss to the DRACS during normal operation of the reactor, and to keep the DRACS ready for activation, if needed, during accidents. To help with the design and thermal performance evaluation of the DRACS, a computer code using MATLAB has been developed. This code is based on a one-dimensional formulation and its principle is to solve the energy balance and integral momentum equations. By discretizing the DRACS system in the axial direction, a bulk mean temperature is assumed for each mesh cell. The temperatures of all the cells, as well as the mass flow rates in the DRACS loops, are predicted by solving the governing equations that are obtained by integrating the energy conservation equation over each cell and integrating the momentum conservation equation over each of the DRACS loops. In addition, an intermediate heat transfer loop equipped with a pump has also been modeled in the code. This enables the study of flow reversal phenomenon in the DRACS primary loop, associated with the pump trip process. Experimental data from a High-Temperature DRACS Test Facility (HTDF) are not available yet to benchmark the code. A preliminary code validation is performed by using natural circulation experimental data available in the literature, which are as closely relevant as possible. The code is subsequently applied to the HTDF that is under

  6. Evaluating performance of high efficiency mist eliminators

    Energy Technology Data Exchange (ETDEWEB)

    Waggoner, Charles A.; Parsons, Michael S.; Giffin, Paxton K. [Mississippi State University, Institute for Clean Energy Technology, 205 Research Blvd, Starkville, MS (United States)

    2013-07-01

    Processing liquid wastes frequently generates off gas streams with high humidity and liquid aerosols. Droplet laden air streams can be produced from tank mixing or sparging and processes such as reforming or evaporative volume reduction. Unfortunately these wet air streams represent a genuine threat to HEPA filters. High efficiency mist eliminators (HEME) are one option for removal of liquid aerosols with high dissolved or suspended solids content. HEMEs have been used extensively in industrial applications, however they have not seen widespread use in the nuclear industry. Filtering efficiency data along with loading curves are not readily available for these units and data that exist are not easily translated to operational parameters in liquid waste treatment plants. A specialized test stand has been developed to evaluate the performance of HEME elements under use conditions of a US DOE facility. HEME elements were tested at three volumetric flow rates using aerosols produced from an iron-rich waste surrogate. The challenge aerosol included submicron particles produced from Laskin nozzles and super micron particles produced from a hollow cone spray nozzle. Test conditions included ambient temperature and relative humidities greater than 95%. Data collected during testing HEME elements from three different manufacturers included volumetric flow rate, differential temperature across the filter housing, downstream relative humidity, and differential pressure (dP) across the filter element. Filter challenge was discontinued at three intermediate dPs and the filter to allow determining filter efficiency using dioctyl phthalate and then with dry surrogate aerosols. Filtering efficiencies of the clean HEME, the clean HEME loaded with water, and the HEME at maximum dP were also collected using the two test aerosols. Results of the testing included differential pressure vs. time loading curves for the nine elements tested along with the mass of moisture and solid

  7. Evaluation of Ultrafiltration Performance for Phospholipid Separation

    Science.gov (United States)

    Aryanti, N.; Wardhani, D. H.; Maulana, Z. S.; Roberto, D.

    2017-11-01

    Ultrafiltration membrane for degumming of crude palm oil has been applied as an alternative method since the membrane process required less procedure than the conventional degumming. This research focused on the examination of ultrafiltration performance for phospholipid separation from model crude palm oil degumming. Specifically, profile flux and rejection, as well as blocking mechanism, were investigated. Feed consisting of Refined Crude Palm Oil - Isopropanol - Lecithin mixtures were represented as crude palm oil degumming. Lecithin was denoted a phospholipid component, and the concentrations of lecithin in feed were varied to 0.1%, 0.2%, and 0.3%. The concentration of phospholipid was determined as phosphor content. At the concentration of lecithin in feed representing phospholipid concentration of 8,45 mg/kg, 8,45 mg/kg, 24,87 mg/kg and 57,58 mg/kg, respectively. Flux profiles confirmed that there was a flux decline during filtration. In addition, the lecithin concentrations do not significantly effect on further flux decline. Rejection characteristic and phospholipid concentration in the permeate showed that the phospholipid rejections by ultrafiltration were in the range of 23-79,5% representing permeate’s phospholipid concentration of 1,73 - 44,25 mg/kg. Evaluation of fouling mechanism by Hermia’s blocking model confirmed that the standard blocking is the dominant mechanism in the ultrafiltration of lecithin mixture.

  8. A Mixed Methods Approach to Evaluate Partnerships and Implementation of the Massachusetts Prevention and Wellness Trust Fund

    Directory of Open Access Journals (Sweden)

    Rebekka M. Lee

    2018-06-01

    Full Text Available Background: Strong partnerships are critical to integrate evidence-based prevention interventions within clinical and community-based settings, offering multilevel and sustainable solutions to complex health issues. As part of Massachusetts' 2012 health reform, The Prevention and Wellness Trust Fund (PWTF funded nine local partnerships throughout the state to address hypertension, pediatric asthma, falls among older adults, and tobacco use. The initiative was designed to improve health outcomes through prevention and disease management strategies and reduce healthcare costs.Purpose: Describe the mixed-methods study design for investigating PWTF implementation.Methods: The Consolidated Framework for Implementation Research guided the development of this evaluation. First, the study team conducted semi-structured qualitative interviews with leaders from each of nine partnerships to document partnership development and function, intervention adaptation and delivery, and the influence of contextual factors on implementation. The interview findings were used to develop a quantitative survey to assess the implementation experiences of 172 staff from clinical and community-based settings and a social network analysis to assess changes in the relationships among 72 PWTF partner organizations. The quantitative survey data on ratings of perceived implementation success were used to purposively select 24 staff for interviews to explore the most successful experiences of implementing evidence-based interventions for each of the four conditions.Conclusions: This mixed-methods approach for evaluation of implementation of evidence-based prevention interventions by PWTF partnerships can help decision-makers set future priorities for implementing and assessing clinical-community partnerships focused on prevention.

  9. The Imprecise Science of Evaluating Scholarly Performance: Utilizing Broad Quality Categories for an Assessment of Business and Management Journals

    Science.gov (United States)

    Lange, Thomas

    2006-01-01

    In a growing number of countries, government-appointed assessment panels develop ranks on the basis of the quality of scholarly outputs to apportion budgets in recognition of evaluated performance and to justify public funds for future R&D activities. When business and management journals are being grouped in broad quality categories, a recent…

  10. INDEXING AND INDEX FUNDS

    Directory of Open Access Journals (Sweden)

    HAKAN SARITAŞ

    2013-06-01

    Full Text Available Proponents of the efficient market hypothesis believe that active portfolio management is largely wasted effort and unlikely to justify the expenses incurred. Therefore, they advocate a passive investment strategy that makes no attempt to outsmart the market. One common strategy for passive management is indexing where a fund is designed to replicate the performance of a broad-based index of stocks and bonds. Traditionally, indexing was used by institutional investors, but today, the use of index funds proliferated among individual investors. Over the years, both international and domestic index funds have disproportionately outperformed the market more than the actively managed funds have.

  11. comparative performance evaluation of an existing and modified

    African Journals Online (AJOL)

    PROF. BARTH EKWEME

    and fan speeds of 2800 rpm as against the existing cylinder and fan speeds of 934 rpm. The performance evaluation for ... KEYWORDS: Acha, fonio, dehuller, performance evaluation, ... centrifugal force as a result of the rotation of the cylinder.

  12. Patterned Armor Performance Evaluation for Multiple Impacts

    National Research Council Canada - National Science Library

    De

    2003-01-01

    .... Performance characteristics of an ideal patterned armor with respect to multiple hits are discussed, and the types of single-shot ballistic data needed to quantify that performance are presented...

  13. A Fund of Wisdom

    DEFF Research Database (Denmark)

    Seabrooke, Leonard; Broome, André

    2006-01-01

    The International Monetary Fund spends most of its time monitoring its member states' economic performance and advising on institutional change. While much of the literature sees the Fund as a policy enforcer in "emerging market" and "frontier" economies, little attention has been paid to exploring...... for change on the basis of like-characteristics among economies. Many Western states, particularly small open economies, consider the Fund's advice as important not only for technical know-how, but because Fund assessments are significant to international and domestic political audiences. This article traces...... the Fund's advice on taxation and monetary reform to two coordinated market economies, Denmark and Sweden, and two liberal market economies, Australia and New Zealand from 1975 to 2004. It maps how the Fund advocated "policy revolutions" and "policy recombinations" during this period, advice that coincided...

  14. Evaluating Library Staff: A Performance Appraisal System.

    Science.gov (United States)

    Belcastro, Patricia

    This manual provides librarians and library managers with a performance appraisal system that measures staff fairly and objectively and links performance to the goals of the library. The following topics are addressed: (1) identifying expectations for quality service or standards of performance; (2) the importance of a library's code of service,…

  15. Namibia - Vocational Training Grant Fund

    Data.gov (United States)

    Millennium Challenge Corporation — The impact evaluation of the Vocational Training Grant Fund (VTGF) subactivity in Namibia used a random assignment design to determine the effects of VTGF-funded...

  16. Fenestration System Performance Research, Testing, and Evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Jim Benney

    2009-11-30

    The US DOE was and is instrumental to NFRC's beginning and its continued success. The 2005 to 2009 funding enables NFRC to continue expanding and create new, improved ratings procedures. Research funded by the US DOE enables increased fenestration energy rating accuracy. International harmonization efforts supported by the US DOE allow the US to be the global leader in fenestration energy ratings. Many other governments are working with the NFRC to share its experience and knowledge toward development of their own national fenestration rating process similar to the NFRC's. The broad and diverse membership composition of NFRC allows anyone with a fenestration interest to come forward with an idea or improvement to the entire fenestration community for consideration. The NFRC looks forward to the next several years of growth while remaining the nation's resource for fair, accurate, and credible fenestration product energy ratings. NFRC continues to improve its rating system by considering new research, methodologies, and expanding to include new fenestration products. Currently, NFRC is working towards attachment energy ratings. Attachments are blinds, shades, awnings, and overhangs. Attachments may enable a building to achieve significant energy savings. An NFRC rating will enable fair competition, a basis for code references, and a new ENERGY STAR product category. NFRC also is developing rating methods to consider non specular glazing such as fritted glass. Commercial applications frequently use fritted glazing, but no rating method exists. NFRC is testing new software that may enable this new rating and contribute further to energy conservation. Around the world, many nations are seeking new energy conservation methods and NFRC is poised to harmonize its rating system assisting these nations to better manage and conserve energy in buildings by using NFRC rated and labeled fenestration products. As this report has shown, much more work needs to be

  17. Unsupervised Performance Evaluation of Image Segmentation

    Directory of Open Access Journals (Sweden)

    Chabrier Sebastien

    2006-01-01

    Full Text Available We present in this paper a study of unsupervised evaluation criteria that enable the quantification of the quality of an image segmentation result. These evaluation criteria compute some statistics for each region or class in a segmentation result. Such an evaluation criterion can be useful for different applications: the comparison of segmentation results, the automatic choice of the best fitted parameters of a segmentation method for a given image, or the definition of new segmentation methods by optimization. We first present the state of art of unsupervised evaluation, and then, we compare six unsupervised evaluation criteria. For this comparative study, we use a database composed of 8400 synthetic gray-level images segmented in four different ways. Vinet's measure (correct classification rate is used as an objective criterion to compare the behavior of the different criteria. Finally, we present the experimental results on the segmentation evaluation of a few gray-level natural images.

  18. An Evaluation of Twenty Years of EU Framework Programme-funded Immune-mediated Inflammatory Translational Research in Non-human Primates

    Directory of Open Access Journals (Sweden)

    Krista Geraldine Haanstra

    2016-11-01

    Full Text Available Ageing western societies are facing an increasing prevalence of chronic inflammatory and degenerative diseases for which often no effective treatments exist, resulting in increasing health care expenditure. Despite high investments in drug development, the number of promising new drug candidates decreases. We propose that preclinical research in non-human primate can help to bridge the gap between drug discovery and drug prescription.Translational research covers various stages of drug development of which pre-clinical efficacy tests in valid animal models is usually the last stage. Pre-clinical research in non-human primates may be essential in the evaluation of new drugs or therapies when a relevant rodent model is not available. Non-human primate models for life-threatening or severely debilitating diseases in humans are available at the Biomedical Primate Research Centre (BPRC. These have been instrumental in translational research for several decades.In order to stimulate European health research and innovation from bench to bedside, the European Commission (EC has invested heavily in access to non-human primate research for more than 20 years. BPRC has hosted European users in a series of transnational access programs covering a wide range of research areas with the common theme being immune-mediated inflammatory disorders. We present an overview of the results and give an account of the studies performed as part of European Union Framework Programme (EU FP-funded translational non-human primate research performed at the BPRC. The data illustrate value of translational non-human primate research for the development of new therapies and emphasize the importance of EU FP funding

  19. 10 CFR 1045.9 - RD classification performance evaluation.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false RD classification performance evaluation. 1045.9 Section... classification performance evaluation. (a) Heads of agencies shall ensure that RD management officials and those... RD or FRD documents shall have their personnel performance evaluated with respect to classification...

  20. 48 CFR 2452.216-73 - Performance evaluation plan.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Performance evaluation plan... 2452.216-73 Performance evaluation plan. As prescribed in 2416.406(e)(3), insert the following clause in all award fee contracts: Performance Evaluation Plan (AUG 1987) (a) The Government shall...

  1. 48 CFR 2936.201 - Evaluation of contractor performance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Evaluation of contractor... Construction 2936.201 Evaluation of contractor performance. The HCA must establish procedures to evaluate construction contractor performance and prepare performance reports as required by FAR 36.201. ...

  2. Neuropsychological performance and integrated evaluation for disabled people using Virtual Reality: integrated VR profile.

    Science.gov (United States)

    Piccini, PierAntonio

    2002-01-01

    This chapter describes a Virtual Reality (VR) based innovative model of evaluation of the performance and potentiality of young mentally/psychically disabled subjects with learning difficulties. Using an immersive PC-based VR system, the study investigated the characteristics of 150 disabled subjects in the EU funded project "Horizon O.D.A.--Catania-1998--2000". The result is the definition of an individual neuropsychological "Integrated Profile", based on VR performance, that allows an objective functional benchmark between different subjects. This model can be used to investigate the possibility of job integration for mentally/psychically disabled subjects.

  3. Performance evaluation of local colour invariants

    NARCIS (Netherlands)

    Burghouts, G.J.; Geusebroek, J.M.

    2009-01-01

    In this paper, we compare local colour descriptors to grey-value descriptors. We adopt the evaluation framework of Mikolayzcyk and Schmid. We modify the framework in several ways. We decompose the evaluation framework to the level of local grey-value invariants on which common region descriptors are

  4. Staff Performance Evaluation in Public Organizations

    Directory of Open Access Journals (Sweden)

    Drumea C.

    2014-12-01

    Full Text Available In public Organizations staff performance is difficult to measure in absence of overall quantitative performance indicators. There are also the qualitative indicators that give an overview on staff’s motivation, strive, ability, commitment to values, teamwork. These aspects are even less easy to illustrate, in private and public sectors equally. In both cases, measuring staff performance at work, as well as its input on the global performance of the organization is a difficult task which has in practice different approaches. Subsequently, this paper is discussing the system indicators and performance triggers used in International Organizations UN affiliated, in order to adjust staff classification and benefits to their staff’s performance.

  5. The adolescent family life program: a multisite evaluation of federally funded projects serving pregnant and parenting adolescents.

    Science.gov (United States)

    Kan, Marni L; Ashley, Olivia Silber; LeTourneau, Kathryn L; Williams, Julia Cassie; Jones, Sarah B; Hampton, Joel; Scott, Alicia Richmond

    2012-10-01

    We evaluated the effectiveness of care demonstration projects supported by the Title XX Adolescent Family Life (AFL) program, which serves pregnant and parenting adolescents in an effort to mitigate the risks associated with adolescent childbearing. This cross-site evaluation involved 12 projects and 1038 adolescents who received either enhanced services funded by the AFL program or usual care. We examined the effects of enhanced services on health, educational, and child care outcomes approximately 6 months to 2 years after intake and explored moderation of program effects by time since intake and project characteristics associated with outcomes. The odds of using long-acting reversible contraception (odds ratio [OR] = 1.58) and receiving regular child care (OR = 1.50) in the past month were higher in the intervention group than in the comparison group. Odds of a repeat pregnancy were lower (OR = 0.39) among intervention group adolescents than among comparison group adolescents within 12 months of intake. Several project characteristics were associated with adolescent health outcomes. These projects show promise in improving effective contraceptive use, increasing routine child care, and yielding short-term decreases in repeat pregnancy.

  6. Evaluating Robot-Operator Job Performance

    National Research Council Canada - National Science Library

    Moses, Franklin L; Brooks, Peter S; Hofmann, M; Johnson, E; Laveson, J; Zaccaro, S

    2007-01-01

    .... Tests that do include performance of the human operator often rely on qualitative observations -- observer judgments and interviews about workload, situation awareness, cognitive issues, and so on...

  7. [Prioritization and Consentation of Criteria for the Appraisal, Funding and Evaluation of Projects from the German Innovationsfonds: A multi-perspective Delphi study].

    Science.gov (United States)

    Schmitt, J; Petzold, T; Nellessen-Martens, G; Pfaff, H

    2015-09-01

    The German Innovationsfonds provides the chance for evidence-based developments of the German healthcare system. Prioritization of recommendations for an effective, efficient, fair, transparent, and sustainable granting of funds through a transparent, evidence-driven consensus-process involving all relevant stakeholder groups. Representatives from health and research policy, payers, patient representatives, healthcare providers, and scientists were invited to nominate participants for an electronic 3 round iterative Delphi-study to prioritize the thematic focus, requirements concerning study methods, the team of applicants, evaluation, utilization of study results, and for the selection of reviewers. Criteria considered as relevant by at least 60% of the panel (consensus definition) in the first 2 Delphi rounds were rated as facultative, preferable, or obligatory criteria for project funding. Data were analyzed descriptively. ( Datenbank Versorgungsforschung Deutschland VfD_15_003561). All invited stakeholder groups except payers participated. 34 (85%) of 40 nominated representatives participated in the Delphi-study. A total of 64 criteria were consented as relevant for project review and funding concerning the thematic focus (n=28), methodological requirements (n=13), requirements for applicants (n=4), for the evaluation (n=4), utilization (n=6), and selection of peer reviewers (n=9). It is the collective responsibility of all stakeholders to spend the designated funds as efficient and sustainable as possible. The consented recommendations shall serve decision makers as a resource for the granting of funds and the evaluation of the Innovationsfonds. © Georg Thieme Verlag KG Stuttgart · New York.

  8. Community Development: CDFI Fund Can Improve Its Systems to Measure, Monitor and Evaluate Awardees' Performance

    National Research Council Canada - National Science Library

    1998-01-01

    .... In economically distressed communities, where access to credit and investment capital through conventional sources is often limited, private for-profit and nonprofit community development financial institutions (CDFI...

  9. performance evaluation of evolutionary designed conventional AGC ...

    African Journals Online (AJOL)

    In this context, the tuning of a multi-area automatic generation control (AGC) system after deregulation and furthermore, the effect of reheat turbines dynamics in the power system performance, are not yet ... The performances of the tuned two–area AGC system are obtained using appropriate Matlab/Simulink models. Finally ...

  10. Performance Evaluation of Blind Tropospheric Delay correction ...

    African Journals Online (AJOL)

    This report represents an appraisal of the performance of the GPT2w and UNB3M models with accurate International GNSS Service (IGS)- tropospheric estimations for fifteen IGS stations over a period of 1 year on the Africa continent. Both models perform significantly better at low latitudes than higher latitudes. There was ...

  11. Performance evaluation and specification of trackless tack.

    Science.gov (United States)

    2016-09-01

    Several trackless tack products have come to market in Texas; however, there are currently no specifications to : ensure the products have trackless properties and adequate bond strength. The objectives of this project were to : (1) evaluate the trac...

  12. Hospital evacuation; planning, assessment, performance and evaluation

    OpenAIRE

    Nero C Wabo; P Örtenwall; A Khorram-Manesh

    2012-01-01

    Objective: Malfunction in hospitals' complex internal systems, or extern threats, may result in a hospital evacuation. Factors contributing to such evacuation must be identified, analyzed and action plans should be prepared. Our aims in this study were 1) to evaluate the use of risk and vulnerability analysis as a basis for hospital evacuation plan, 2) to identify risks/hazards triggering an evacuation and evaluate the respond needed and 3) to propose a template with main key points for plann...

  13. An Assessment of the Adequacy of Ohio School Funding: New Performance Standards and Alternative Measurements of Adequacy

    Science.gov (United States)

    Sweetland, Scott R.

    2015-01-01

    Reflecting upon "Rose v. Council," this research traced the development of adequate school funding in Ohio. "DeRolph v. State" centered the constitutional requirement for adequate education in Ohio. Thereafter, scholars estimated costs of adequate education and legislators adjusted those estimated costs. Plaintiffs and justices…

  14. Evaluation of photovoltaic installations performances in Sardinia

    International Nuclear Information System (INIS)

    Ghiani, Emilio; Pilo, Fabrizio; Cossu, Silvestro

    2013-01-01

    Highlights: • One year measurement and performance analysis of grid connected PV power plants. • The analysis of the whole energetic PV transformation chain is presented. • Ambient parameters monitored and compared with the ones available in literature. • Monthly variability of the performance ratio and its correlation with temperature. • Range of variation of performance ratio in plants grouped by typology. - Abstract: This paper aims at providing a performance analysis of a grid connected photovoltaic power plant in Sardinia by investigating on the effective performance ratio of PV installations, with a critical analysis of the whole energetic transformation chain, starting from the incident solar energy, to the DC energy output from the modules and AC energy output from the inverter and transformer. The parameters that can influence the energy production are analyzed in order to find out the critical points in the optimization of the PV system design process. One year measurement and performance analysis of two real-life grid connected PV power plants are presented in the paper, providing up-to-date measurement data, useful to compare the effective energy production of PV plants positioned in different areas of the world. Monthly variability of the performance ratio and its correlation with ambient temperature is also discussed in the paper

  15. Shock circle model for ejector performance evaluation

    International Nuclear Information System (INIS)

    Zhu, Yinhai; Cai, Wenjian; Wen, Changyun; Li, Yanzhong

    2007-01-01

    In this paper, a novel shock circle model for the prediction of ejector performance at the critical mode operation is proposed. By introducing the 'shock circle' at the entrance of the constant area chamber, a 2D exponential expression for velocity distribution is adopted to approximate the viscosity flow near the ejector inner wall. The advantage of the 'shock circle' analysis is that the calculation of ejector performance is independent of the flows in the constant area chamber and diffuser. Consequently, the calculation is even simpler than many 1D modeling methods and can predict the performance of critical mode operation ejectors much more accurately. The effectiveness of the method is validated by two experimental results reported earlier. The proposed modeling method using two coefficients is shown to produce entrainment ratio, efficiency and coefficient of performance (COP) accurately and much closer to experimental results than those of 1D analysis methods

  16. Performance evaluation of cogeneration power plants

    International Nuclear Information System (INIS)

    Bacone, M.

    2001-01-01

    The free market has changed the criteria for measuring the cogeneration plant performances. Further at the technical-economic parameters, are considered other connected at the profits of the power plant [it

  17. Scientific Applications Performance Evaluation on Burst Buffer

    KAUST Repository

    Markomanolis, George S.; Hadri, Bilel; Khurram, Rooh Ul Amin; Feki, Saber

    2017-01-01

    Parallel I/O is an integral component of modern high performance computing, especially in storing and processing very large datasets, such as the case of seismic imaging, CFD, combustion and weather modeling. The storage hierarchy includes nowadays

  18. Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    In line with the decisions concerning the new governance of the Pension Fund taken by the Council in June and September 2007, amendments to Section 2 "Structure and Functions" of the Rules of the Fund (Article I 2.08 – Composition of the Investment Committee and Article I 2.08b – Chairman of the Investment Committee) entered into force on 1st January 2009. These articles replace the provisions of the existing Regulations of the Investment Committee of the Pension Fund relating to the composition and chairman of the Investment Committee. Amendment No. 27 (PDF document) may be downloaded directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 7672742, mailto:Barbara.Bordjah@cern.ch).

  19. Experimental evaluation of solar still performance

    Energy Technology Data Exchange (ETDEWEB)

    Saif-ur-Rehman, M

    1973-01-01

    A method is described to measure various temperatures, insolation, and the distillate outputs from various stills simultaneously. The experimental results are used to study the thermodynamic behavior of solar still performance with the help of temperature profiles of saline water, underneath soil and glass. Effects of ageing on material deterioration and still output are discussed and in the light of the experimental evidence, recommendations are made for better still performance.

  20. The rise of Asian sovereign wealth funds

    OpenAIRE

    Borst, Nicholas

    2015-01-01

    This Asia Focus provides an overview of sovereign wealth funds, evaluates the structure and activities of major funds in Asia, and compares the transparency of Asian funds relative to international best practices.

  1. An evaluation of health benefit modification in Taft-Hartley health and welfare funds: implications for encouraging tobacco-cessation coverage.

    Science.gov (United States)

    Au-Yeung, Caroline M; Weisman, Susan R; Hennrikus, Deborah J; Forster, Jean L; Skoog, Rodney; Luneburg, Wade; Hesse, Bernie

    2010-12-01

    An estimated one fifth of all U.S. adult smokers receive health benefits through insurance plans administered by Taft-Hartley Health and Welfare Funds. Most funds do not offer comprehensive tobacco-cessation services to fund participants despite evidence that doing so would be cost effective and save lives. This paper examines the decision-making processes of Minnesota-based fund trustees and advisors to identify factors that influence decisions about modifications to benefits. Formative data about the process by which funds make health benefit modifications were collected in 2007-2008 from 25 in-depth key informant interviews with fund trustees and a cross-section of fund advisors, including administrators, attorneys, and healthcare business consultants. Analyses were performed using a general inductive approach to identify conceptual themes, employing qualitative data analysis software. The most commonly cited factors influencing trustees' decisions about health plan benefit modifications-including modifications regarding tobacco-cessation benefits-were benefit costs, participants' demand for services, and safeguarding participants' health. Barriers included information gaps, concerns about participants' response, and difficulty projecting benefit utilization and success. Advisors wielded considerable influence in decision-making processes. Trustees relied on a small pool of business, legal, and administrative advisors to provide guidance and recommendations about possible health plan benefit modifications. Providing advisors with evidence-based information and resources about benefit design, cost/return-on-investment (ROI), effectiveness, and promotion may be an effective means to influence funds to provide comprehensive tobacco-cessation benefits. Copyright © 2010 American Journal of Preventive Medicine. Published by Elsevier Inc. All rights reserved.

  2. Methodology for evaluation of diagnostic performance

    International Nuclear Information System (INIS)

    Metz, C.E.

    1992-01-01

    Effort in this project during the past year has focused on the development, refinement, and distribution of computer software that will allow current Receiver Operating Characteristic (ROC) methodology to be used conveniently and reliably by investigators in a variety of evaluation tasks in diagnostic medicine; and on the development of new ROC methodology that will broaden the spectrum of evaluation tasks and/or experimental settings to which the fundamental approach can be applied. Progress has been limited by the amount of financial support made available to the project

  3. Evaluation of a mid-career investigator career development award: Assessing the ability of OppNet K18 awardees to obtain NIH follow-on research funding.

    Science.gov (United States)

    Pomeroy-Carter, Cassidy A; Williams, Sharon R; Han, Xueying; Elwood, William N; Zuckerman, Brian L

    2018-01-01

    The National Institutes of Health (NIH) K18 award mechanism provides funded opportunities for established investigators to gain knowledge in fields outside of their primary disciplines, but outcomes associated with these awards have not been evaluated to date. NIH's Basic Behavioral and Social Sciences Opportunity Network (OppNet) is one of the few initiatives that has used this award mechanism. We explored how the unique features of K18 awards affect the ability of recipients to obtain follow-on NIH research funding. We compared outcomes (ability to obtain follow-on funding and interval between receipt of the primary award and receipt of the first follow-on award) associated with OppNet K18 awards to findings from evaluations of other NIH career development (K) awards, which usually target early-career investigators. We hypothesized that K18 award recipients might be (1) more successful than are other K award recipients in obtaining follow-on NIH research funding due to their career experience or (2) less successful due to the competing demands of other projects. By analyzing follow-on NIH research awards and interview data, we found that OppNet K18 award recipients were at least as successful as were other K award recipients in obtaining follow-on funding and may have been more successful by certain measures. K18 awards produce their outcomes with a lower investment per investigator than do other K awards, suggesting continued or enhanced use of the mechanism.

  4. Evaluation of a mid-career investigator career development award: Assessing the ability of OppNet K18 awardees to obtain NIH follow-on research funding.

    Directory of Open Access Journals (Sweden)

    Cassidy A Pomeroy-Carter

    Full Text Available The National Institutes of Health (NIH K18 award mechanism provides funded opportunities for established investigators to gain knowledge in fields outside of their primary disciplines, but outcomes associated with these awards have not been evaluated to date. NIH's Basic Behavioral and Social Sciences Opportunity Network (OppNet is one of the few initiatives that has used this award mechanism. We explored how the unique features of K18 awards affect the ability of recipients to obtain follow-on NIH research funding. We compared outcomes (ability to obtain follow-on funding and interval between receipt of the primary award and receipt of the first follow-on award associated with OppNet K18 awards to findings from evaluations of other NIH career development (K awards, which usually target early-career investigators. We hypothesized that K18 award recipients might be (1 more successful than are other K award recipients in obtaining follow-on NIH research funding due to their career experience or (2 less successful due to the competing demands of other projects. By analyzing follow-on NIH research awards and interview data, we found that OppNet K18 award recipients were at least as successful as were other K award recipients in obtaining follow-on funding and may have been more successful by certain measures. K18 awards produce their outcomes with a lower investment per investigator than do other K awards, suggesting continued or enhanced use of the mechanism.

  5. Scientific Applications Performance Evaluation on Burst Buffer

    KAUST Repository

    Markomanolis, George S.

    2017-10-19

    Parallel I/O is an integral component of modern high performance computing, especially in storing and processing very large datasets, such as the case of seismic imaging, CFD, combustion and weather modeling. The storage hierarchy includes nowadays additional layers, the latest being the usage of SSD-based storage as a Burst Buffer for I/O acceleration. We present an in-depth analysis on how to use Burst Buffer for specific cases and how the internal MPI I/O aggregators operate according to the options that the user provides during his job submission. We analyze the performance of a range of I/O intensive scientific applications, at various scales on a large installation of Lustre parallel file system compared to an SSD-based Burst Buffer. Our results show a performance improvement over Lustre when using Burst Buffer. Moreover, we show results from a data hierarchy library which indicate that the standard I/O approaches are not enough to get the expected performance from this technology. The performance gain on the total execution time of the studied applications is between 1.16 and 3 times compared to Lustre. One of the test cases achieved an impressive I/O throughput of 900 GB/s on Burst Buffer.

  6. Performance evaluation of matrix gradient coils.

    Science.gov (United States)

    Jia, Feng; Schultz, Gerrit; Testud, Frederik; Welz, Anna Masako; Weber, Hans; Littin, Sebastian; Yu, Huijun; Hennig, Jürgen; Zaitsev, Maxim

    2016-02-01

    In this paper, we present a new performance measure of a matrix coil (also known as multi-coil) from the perspective of efficient, local, non-linear encoding without explicitly considering target encoding fields. An optimization problem based on a joint optimization for the non-linear encoding fields is formulated. Based on the derived objective function, a figure of merit of a matrix coil is defined, which is a generalization of a previously known resistive figure of merit for traditional gradient coils. A cylindrical matrix coil design with a high number of elements is used to illustrate the proposed performance measure. The results are analyzed to reveal novel features of matrix coil designs, which allowed us to optimize coil parameters, such as number of coil elements. A comparison to a scaled, existing multi-coil is also provided to demonstrate the use of the proposed performance parameter. The assessment of a matrix gradient coil profits from using a single performance parameter that takes the local encoding performance of the coil into account in relation to the dissipated power.

  7. Evaluating Performances of Traffic Noise Models | Oyedepo ...

    African Journals Online (AJOL)

    Traffic noise in decibel dB(A) were measured at six locations using 407780A Integrating Sound Level Meter, while spot speed and traffic volume were collected with cine-camera. The predicted sound exposure level (SEL) was evaluated using Burgess, British and FWHA model. The average noise level obtained are 77.64 ...

  8. Evaluation of the diagnostic performance and operational ...

    African Journals Online (AJOL)

    The objectives of the study were (i) to assess the sensitivity and specificity of four on site rapid tests in comparison with Treponema pallidum haemagglutination assay (TPHA) as a gold standard and (ii) to evaluate the operational characteristics of those tests among health workers in a maternity unit. Methods: Four rapid ...

  9. Performance Evaluation of Tree Object Matching

    DEFF Research Database (Denmark)

    Somchaipeng, Kerawit; Sporring, Jon; Kreiborg, Sven

    2005-01-01

    Multi-Scale Singularity Trees (MSSTs) represents the deep structure of images in scale-space and provide both the connections between image features at different scales and their strengths. In this report we present and evaluate an algorithm that exploits the MSSTs for image matching. Two versions...

  10. Performance Evaluation of Balanced Pension Plans

    NARCIS (Netherlands)

    L. Andreu (Laura); L.A.P. Swinkels (Laurens)

    2009-01-01

    textabstractThis paper examines the ability of balanced pension plan managers to successfully time the equity and bond market and select the appropriate assets within these markets. In order to evaluate both market timing abilities in these balanced pension plans, we extend the traditional equity

  11. Subjective performance evaluations and employee careers

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Lange, Fabian; Kriechel, Ben

    such data are for evaluating theories in personnel economics and whether findings from such data generalize to the labor force at large. In this paper, we examine personnel data from six large companies and establish how subjective ratings, interpreted as ordinal rankings of employees within narrowly...

  12. Evaluating growth performance of young stands

    Science.gov (United States)

    A. L. Roe; R. E. Benson

    1966-01-01

    A simple procedure for evaluating the diameter growth of young stands in relation to potential growth is described. A comparison technique is developed which contrasts relative diameter of crop trees to the relative diameter growth of the last decade to show the condition and trend of growth in the stand. The method is objective, easy to use, and has several...

  13. The evaluation of myomectomies performed during cesarean ...

    African Journals Online (AJOL)

    Background: We evaluated the data of patients who had applied myomectomy during cesarean section operation in our clinic between April, 2008 and December, 2010. Objective: In this period, 3689 cesarean sections were done in our clinic, we analyzed their data retrospectively and determined 27 myomectomy cases ...

  14. ARGICULTURAL LAND PROTECTION FUND AND FOREST FUND AS ECOLOGICAL FUNDS

    OpenAIRE

    Bartosz Bartniczak

    2009-01-01

    Funds for environmental protection and water management, Agricultural Land Protection Fund and Forest Fund make up the Polish system of special fund in environment protection. The main aim of this article is to analyze the activity of two latest funds. The article tries to answer the question whether that funds could be considered as ecological funds. The author described incomes and outlays of that funds and showed which reform should be done in Polish special funds system.

  15. Performance evaluation of 1 kw PEFC

    Energy Technology Data Exchange (ETDEWEB)

    Komaki, Hideaki [Ishikawajima-Harima Heavy Industries Co., Ltd. Tokyo (Japan); Tsuchiyama, Syozo [Shipbuilding Research Association, Minato-ky, Tokyo (Japan)

    1996-12-31

    This report covers part of a joint study on a PEFC propulsion system for surface ships, summarized in a presentation to this Seminar, entitled {open_quote}Study on a PEFC Propulsion System for Surface Ships{close_quotes}, and which envisages application to a 1,500 DWT cargo vessel. The aspect treated here concerns the effects brought on PEFC operating performance by conditions particular to shipboard operation. The performance characteristics were examined through tests performed on a 1 kw stack and on a single cell (Manufactured by Fuji Electric Co., Ltd.). The tests covered the items (1) to (4) cited in the headings of the sections that follow. Specifications of the stack and single cell are as given.

  16. An impact evaluation of the safe motherhood promotion project in Bangladesh: evidence from Japanese aid-funded technical cooperation.

    Science.gov (United States)

    Kamiya, Yusuke; Yoshimura, Yukie; Islam, Mohammad Tajul

    2013-04-01

    This paper reports the findings from a quasi-experimental impact evaluation of the Safe Motherhood Promotion Project (SMPP) conducted in the Narsingdi district of Bangladesh. SMPP is a Japanese aid-funded technical cooperation project aimed at developing local capacities to tackle maternal and newborn health problems in rural areas. We assessed whether the project interventions, in particular, community-based activities under the Model Union approach, had a favorable impact on women's access to and knowledge of maternal health care during pregnancy and childbirth. The project comprises a package of interlinked interventions to facilitate safe motherhood practices at primary and secondary care levels. The primary-level activities focused on community mobilization through participatory approaches. The secondary-level activities aimed at strengthening organizational and personnel capacities for delivering emergency obstetric care (EmOC) at district and sub-district level hospitals. The project impact was estimated by difference-in-differences logistic regressions using two rounds of cross-sectional household survey data. The results showed that the project successfully increased the utilization of antenatal visits and postpartum EmOC services and also enhanced women's knowledge of danger signs during pregnancy and delivery. The project also reduced income inequalities in access to antenatal care. In contrast, we found no significant increase in the use of skilled birth attendants (SBA) in the project site. Nonetheless, community mobilization activities and the government's voucher scheme played a complementary role in promoting the use of SBA. Copyright © 2013 Elsevier Ltd. All rights reserved.

  17. Performance objectives and criteria for plant evaluations

    International Nuclear Information System (INIS)

    1983-04-01

    Maintenance organization and administration should ensure effective implementation and control of maintenance activities. The criteria are: A. The organizational structure is clearly defined. B. Staffing and resources are sufficient to accomplish assigned tasks. C. Responsibilities and authority of each management, supervisory, and professional position are clearly defined. D. Personnel clearly understand their authority, responsibilities, accountabilities, and interfaces with supporting groups. E. Administrative controls are employed for maintenance activities important to plant safety and reliability. F. Performance appraisals are effectively utilized to enhance individual performance

  18. Evaluating Performance: Strategic Alignment and Productivity

    Directory of Open Access Journals (Sweden)

    Armando Cuesta Santos

    2012-10-01

    Full Text Available Actually is reported as a world problem to enterprise label the rupture or inexistence of the connections between the strategy, human resource management and the organizational management indicators. In the Cuban enterprise practice this is manifest too. Surpass this rupture on the technical and organizer plan, is the principal objective of this research. In this paper is argument one methodological process that begins with the definition of labour competency to consider into post profiles, that conduced to surpass the actual rupture or opposition (versus, or not alignment or not integration, between the performance individual appraisal and the performance organizational strategic appraisal.

  19. Importance Performance Analysis as a Trade Show Performance Evaluation and Benchmarking Tool

    OpenAIRE

    Tafesse, Wondwesen; Skallerud, Kåre; Korneliussen, Tor

    2010-01-01

    Author's accepted version (post-print). The purpose of this study is to introduce importance performance analysis as a trade show performance evaluation and benchmarking tool. Importance performance analysis considers exhibitors’ performance expectation and perceived performance in unison to evaluate and benchmark trade show performance. The present study uses data obtained from exhibitors of an international trade show to demonstrate how importance performance analysis can be used to eval...

  20. Allocating organisational level funding on the basis of Research Performance Based assessments, a comparative analysis of the EU Member States in international perspective

    Energy Technology Data Exchange (ETDEWEB)

    Jonkers, K.; Zacharewicz, T.; Lepori, B.; Reale, E.

    2016-07-01

    The paper analyses the extent to which RPBF allocation mechanisms are being implemented in Europe. To do so, this study builds on a novel set of data on project and organisational level funding developed for the European Commission, which identifies funding allocation mechanisms in each of the EU-28 Member States. This approach allows to compare the scope of RPBF systems across European countries.Further, the paper build on an in-depth analysis of RPBF implementation in 28 European countries, which comes to a classification of different types of RPBF implementation around three characteristics, i.e. a) the way research performance is measured and b) the type of link between performance assessment and allocation of resources. The analysis furthermore identifies a number of good practices while highlighting the potential for adverse effects of RPBF systems in research systems at different stages of development. (Author)

  1. Findings from the Evaluation of the National Library Power Program. Executive Summary. An Initiative of the DeWitt Wallace-Reader's Digest Fund.

    Science.gov (United States)

    Zweizig, Douglas; Hopkins, Dianne McAfee

    This document presents the executive summary of an evaluation of Library Power, a program of the DeWitt Wallace-Reader's Digest Fund to enhance and elevate the role of libraries in public schools. The report begins with an examination of Library Power's core components (collection development, facilities refurbishing, flexible scheduling,…

  2. Design, Construction and Performance Evaluation of Multiple ...

    African Journals Online (AJOL)

    The complex casting machine has been designed to perform the following techniques: gravity casting, stir casting, squeeze casting, vacuum casting, compocasting and thixoforming. All these casting techniques have been integrated into this complex casting machine as different units which work with the help of automation.

  3. A performance evaluation of point pair features

    DEFF Research Database (Denmark)

    Kiforenko, Lilita; Drost, Bertram; Tombari, Federico

    2018-01-01

    have low resolution data, where local histogram features show a higher performance than PPFs. We also found that PPFs compared to most local histogram features degrade faster under disturbances such as occlusion and clutter, however, PPFs still remain more descriptive on an absolute scale. The main...

  4. Performance evaluation of chip seals in Idaho.

    Science.gov (United States)

    2010-08-01

    The intent of this research project is to identify a wide variety of parameters that influence the performance of pavements treated via chip seals within the State of Idaho. Chip sealing is currently one of the most popular methods of maintenance for...

  5. Performance evaluation of prototype mechanical cassava harvester ...

    African Journals Online (AJOL)

    Large-scale cassava harvesting, especially during the dry season, is a major constraint to its industrial demand and commercial production. Manual harvesting is slow and ... Results from field trials showed prototype harvesters weighing 268 – 310 kg can achieve optimum performance on ridged landforms. When harvested ...

  6. Space Shuttle Underside Astronaut Communications Performance Evaluation

    Science.gov (United States)

    Hwu, Shian U.; Dobbins, Justin A.; Loh, Yin-Chung; Kroll, Quin D.; Sham, Catherine C.

    2005-01-01

    The Space Shuttle Ultra High Frequency (UHF) communications system is planned to provide Radio Frequency (RF) coverage for astronauts working underside of the Space Shuttle Orbiter (SSO) for thermal tile inspection and repairing. This study is to assess the Space Shuttle UHF communication performance for astronauts in the shadow region without line-of-sight (LOS) to the Space Shuttle and Space Station UHF antennas. To insure the RF coverage performance at anticipated astronaut worksites, the link margin between the UHF antennas and Extravehicular Activity (EVA) Astronauts with significant vehicle structure blockage was analyzed. A series of near-field measurements were performed using the NASA/JSC Anechoic Chamber Antenna test facilities. Computational investigations were also performed using the electromagnetic modeling techniques. The computer simulation tool based on the Geometrical Theory of Diffraction (GTD) was used to compute the signal strengths. The signal strength was obtained by computing the reflected and diffracted fields along the propagation paths between the transmitting and receiving antennas. Based on the results obtained in this study, RF coverage for UHF communication links was determined for the anticipated astronaut worksite in the shadow region underneath the Space Shuttle.

  7. Game Performance Evaluation in Male Goalball Players

    Science.gov (United States)

    Molik, Bartosz; Morgulec-Adamowicz, Natalia; Kosmol, Andrzej; Perkowski, Krzysztof; Bednarczuk, Grzegorz; Skowroński, Waldemar; Gomez, Miguel Angel; Koc, Krzysztof; Rutkowska, Izabela; Szyman, Robert J

    2015-01-01

    Goalball is a Paralympic sport exclusively for athletes who are visually impaired and blind. The aims of this study were twofold: to describe game performance of elite male goalball players based upon the degree of visual impairment, and to determine if game performance was related to anthropometric characteristics of elite male goalball players. The study sample consisted of 44 male goalball athletes. A total of 38 games were recorded during the Summer Paralympic Games in London 2012. Observations were reported using the Game Efficiency Sheet for Goalball. Additional anthropometric measurements included body mass (kg), body height (cm), the arm span (cm) and length of the body in the defensive position (cm). The results differentiating both groups showed that the players with total blindness obtained higher means than the players with visual impairment for game indicators such as the sum of defense (p = 0.03) and the sum of good defense (p = 0.04). The players with visual impairment obtained higher results than those with total blindness for attack efficiency (p = 0.04), the sum of penalty defenses (p = 0.01), and fouls (p = 0.01). The study showed that athletes with blindness demonstrated higher game performance in defence. However, athletes with visual impairment presented higher efficiency in offensive actions. The analyses confirmed that body mass, body height, the arm span and length of the body in the defensive position did not differentiate players’ performance at the elite level. PMID:26834872

  8. Game Performance Evaluation in Male Goalball Players

    Directory of Open Access Journals (Sweden)

    Molik Bartosz

    2015-12-01

    Full Text Available Goalball is a Paralympic sport exclusively for athletes who are visually impaired and blind. The aims of this study were twofold: to describe game performance of elite male goalball players based upon the degree of visual impairment, and to determine if game performance was related to anthropometric characteristics of elite male goalball players. The study sample consisted of 44 male goalball athletes. A total of 38 games were recorded during the Summer Paralympic Games in London 2012. Observations were reported using the Game Efficiency Sheet for Goalball. Additional anthropometric measurements included body mass (kg, body height (cm, the arm span (cm and length of the body in the defensive position (cm. The results differentiating both groups showed that the players with total blindness obtained higher means than the players with visual impairment for game indicators such as the sum of defense (p = 0.03 and the sum of good defense (p = 0.04. The players with visual impairment obtained higher results than those with total blindness for attack efficiency (p = 0.04, the sum of penalty defenses (p = 0.01, and fouls (p = 0.01. The study showed that athletes with blindness demonstrated higher game performance in defence. However, athletes with visual impairment presented higher efficiency in offensive actions. The analyses confirmed that body mass, body height, the arm span and length of the body in the defensive position did not differentiate players’ performance at the elite level.

  9. Using Ratio Analysis to Evaluate Financial Performance.

    Science.gov (United States)

    Minter, John; And Others

    1982-01-01

    The ways in which ratio analysis can help in long-range planning, budgeting, and asset management to strengthen financial performance and help avoid financial difficulties are explained. Types of ratios considered include balance sheet ratios, net operating ratios, and contribution and demand ratios. (MSE)

  10. 40 CFR 35.115 - Evaluation of performance.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Evaluation of performance. 35.115 Section 35.115 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL... Evaluation of performance. (a) Joint evaluation process. The applicant and the Regional Administrator will...

  11. 40 CFR 35.515 - Evaluation of performance.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Evaluation of performance. 35.515 Section 35.515 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL....515 Evaluation of performance. (a) Joint evaluation process. The applicant and the Regional...

  12. Evaluating Suit Fit Using Performance Degradation

    Science.gov (United States)

    Margerum, Sarah E.; Cowley, Matthew; Harvill, Lauren; Benson, Elizabeth; Rajulu, Sudhakar

    2011-01-01

    The Mark III suit has multiple sizes of suit components (arm, leg, and gloves) as well as sizing inserts to tailor the fit of the suit to an individual. This study sought to determine a way to identify the point an ideal suit fit transforms into a bad fit and how to quantify this breakdown using mobility-based physical performance data. This study examined the changes in human physical performance via degradation of the elbow and wrist range of motion of the planetary suit prototype (Mark III) with respect to changes in sizing and as well as how to apply that knowledge to suit sizing options and improvements in suit fit. The methods implemented in this study focused on changes in elbow and wrist mobility due to incremental suit sizing modifications. This incremental sizing was within a range that included both optimum and poor fit. Suited range of motion data was collected using a motion analysis system for nine isolated and functional tasks encompassing the elbow and wrist joints. A total of four subjects were tested with motions involving both arms simultaneously as well as the right arm only. The results were then compared across sizing configurations. The results of this study indicate that range of motion may be used as a viable parameter to quantify at what stage suit sizing causes a detriment in performance; however the human performance decrement appeared to be based on the interaction of multiple joints along a limb, not a single joint angle. The study was able to identify a preliminary method to quantify the impact of size on performance and to develop a means to gauge tolerances around optimal size. More work is needed to improve the assessment of optimal fit and to compensate for multiple joint interactions.

  13. Fuel performance evaluation through iodine activity monitoring

    International Nuclear Information System (INIS)

    Anantharaman, K.; Chandra, R.

    1995-01-01

    The objective of the failed fuel detection system is to keep a watch on fuel behaviour during operation. This paper describes the evaluation of fuel behaviour by monitoring the activities of various isotopes of iodine both during steady state and during a reactor shutdown. The limitations of this approach also has been explained. The monitoring of tramp uranium for different types of release, namely fixed contamination and continuous release from fuel, is also presented. (author)

  14. The performance indicators of model projects. A special evaluation

    International Nuclear Information System (INIS)

    1995-11-01

    As a result of the acknowledgment of the key role of the Model Project concept in the Agency's Technical Co-operation Programme, the present review of the objectives of the model projects which are now in operation, was undertaken, as recommended by the Board of Governors, to determine at an early stage: the extent to which the present objectives have been defined in a measurable way; whether objectively verifiable performance indicators and success criteria had been identified for each project; whether mechanisms to obtain feedback on the achievements had been foreseen. The overall budget for the 23 model projects, as approved from 1994 to 1998, amounts to $32,557,560, of which 45% is funded by Technical Co-operation Fund. This represents an average investment of about $8 million per year, that is over 15% of the annual TC budget. The conceptual importance of the Model Project initiative, as well as the significant funds allocated to them, led the Secretariat to plan the methods to be used to determine their socio-economic impact. 1 tab

  15. Pension Fund

    CERN Multimedia

    2005-01-01

    Amendment No 21 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 17.03.2005, concerns Article I 2.05 (Composition of the Governing Board) and Article I 2.06 (Chairman and Vice-Chairmen of the Governing Board) of the Rules of the Pension Fund.

  16. Pension Fund

    CERN Multimedia

    HR Department

    2007-01-01

    The Rules and Regulations of the Pension Fund have been updated, following Council's decision of December 2006 concerning the adjustment of pensions, fixed amounts and allowances by 1.16% with effect from 1.1.2007 (Annex B, page 31). The updated version can be downloaded directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030, or by e-mail Sophia.Revol@cern.ch).

  17. Pension Fund

    CERN Multimedia

    HR Department

    2007-01-01

    The Rules and Regulations of the Pension Fund have been updated, following Council's decision of December 2006 concerning the adjustment of pensions, fixed amounts and allowances by 1.16% with effect from 1.1.2007 (Annex B, page 31). The updated version can be downloaded directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm) or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030), or by e-mail (Sophia.Revol@cern.ch).

  18. 48 CFR 1552.209-76 - Contractor performance evaluations.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Contractor performance... 1552.209-76 Contractor performance evaluations. As prescribed in section 1509.170-1, insert the following clause in all applicable solicitations and contracts. Contractor Performance Evaluations (OCT 2002...

  19. 48 CFR 8.406-7 - Contractor Performance Evaluation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contractor Performance... ACQUISITION PLANNING REQUIRED SOURCES OF SUPPLIES AND SERVICES Federal Supply Schedules 8.406-7 Contractor Performance Evaluation. Ordering activities must prepare an evaluation of contractor performance for each...

  20. 48 CFR 1536.201 - Evaluation of contracting performance.

    Science.gov (United States)

    2010-10-01

    ... performance. 1536.201 Section 1536.201 Federal Acquisition Regulations System ENVIRONMENTAL PROTECTION AGENCY... Contracting for Construction 1536.201 Evaluation of contracting performance. (a) The Contracting Officer will... will file the form in the contractor performance evaluation files which it maintains. (e) The Quality...

  1. Evaluation of the awareness and effectiveness of IT security programs in a large publicly funded health care system.

    Science.gov (United States)

    Hepp, Shelanne L; Tarraf, Rima C; Birney, Arden; Arain, Mubashir Aslam

    2017-01-01

    Electronic health records are becoming increasingly common in the health care industry. Although information technology (IT) poses many benefits to improving health care and ease of access to information, there are also security and privacy risks. Educating health care providers is necessary to ensure proper use of health information systems and IT and reduce undesirable outcomes. This study evaluated employees' awareness and perceptions of the effectiveness of two IT educational training modules within a large publicly funded health care system in Canada. Semi-structured interviews and focus groups included a variety of professional roles within the organisation. Participants also completed a brief demographic data sheet. With the consent of participants, all interviews and focus groups were audio recorded. Thematic analysis and descriptive statistics were used to evaluate the effectiveness of the IT security training modules. Five main themes emerged: (i) awareness of the IT training modules, (ii) the content of modules, (iii) staff perceptions about differences between IT security and privacy issues, (iv) common breaches of IT security and privacy, and (v) challenges and barriers to completing the training program. Overall, nonclinical staff were more likely to be aware of the training modules than were clinical staff. We found e-learning was a feasible way to educate a large number of employees. However, health care providers required a module on IT security and privacy that was relatable and applicable to their specific roles. Strategies to improve staff education and mitigate against IT security and privacy risks are discussed. Future research should focus on integrating health IT competencies into the educational programs for health care professionals.

  2. Performance evaluation of real time radiographic systems

    International Nuclear Information System (INIS)

    Venkatraman, B.; Saravanan, S.; Jayakumar, T.; Kalyanasundaram, P.; Baldev Raj

    1996-01-01

    The Real Time Radiography (RTR) system can be studied completely by knowing the modulation transfer function (MTF) of the whole system. The MTF curve is a special form of contrast/detail-size diagram in which the image contrast is plotted against the spatial frequency of a test object measured in line-pairs per millimetre (lp/mm). MTF curves are widely used to measure the characteristics of optical equipment, particularly for assessing the contribution of individual items in a complex imaging transfer system. Codes of practice indicate that the image intensifier systems should be checked periodically to assess its performance through the use of MTF curves and step wedges for contrast ratio. Authors, instead, suggest the use of performance curves which are simple to obtain and can be easily interpreted by radiographers. (author)

  3. Diagnostics and performance evaluation of multikilohertz capacitors

    International Nuclear Information System (INIS)

    McDuff, G.; Nunnally, W.C.; Rust, K.; Sarjeant, J.

    1980-01-01

    The observed performance of nanofarad polypropylene-silicone oil, mica paper, and polytetrafluoroethylene-silicone oil capacitors discharged in a 100-ns, 1-kA pulse with a pulse repetition frequency of 1 kHz is presented. The test facility circuit, diagnostic parameters, and the preliminary test schedule are outlined as a basis for discussion of the observed failure locations and proposed failure mechanisms. Most of the test data and discussion presented involves the polypropylene-silicone oil units

  4. Attributes and descriptors for building performance evaluation

    Directory of Open Access Journals (Sweden)

    S. Gopikrishnan

    2017-12-01

    In order to obtain the right feedback in levels of satisfaction with respect to these attributes, there is a need to have appropriate descriptors for incorporation in a survey instrument. This paper identifies attributes that indicate building performance and provides simple description of these attributes based on which items can be generated for a questionnaire. Such items can enable any user/occupant to easily understand the characteristics of these attributes and offer an objective feedback during questionnaire survey.

  5. Brookfield Homes Passive House Performance Evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Herk, A. [IBACOS, Inc., Pittsburgh, PA (United States); Poerschke, A. [IBACOS, Inc., Pittsburgh, PA (United States); Beach, R. [IBACOS, Inc., Pittsburgh, PA (United States)

    2016-02-01

    In 2012-2013, IBACOS worked with a builder, Brookfield Homes in Denver, Colorado, to design and construct a Passive House certified model home. IBACOS used several modeling programs and calculation methods to complete the final design package along with Brookfield's architect KGA Studio. This design package included upgrades to the thermal enclosure, basement insulation, windows, and heating, ventilation, and air conditioning. Short-term performance testing in the Passive House was done during construction and after construction.

  6. Evaluating performance measures to determine training effectiveness

    International Nuclear Information System (INIS)

    Klemm, R.W.; Feiza, A.S.

    1987-01-01

    This research was conceived and dedicated to helping the CECo training organization become a more integrated part of the corporate business. The target population for this study was nuclear and fossil generating station employees who directly impacted the production of electricity. The target sample (n = 150) included: instrument, mechanical, and electrical maintenance personnel; control room operators; engineers, radiation chemists, and other technical specialists; and equipment operators and attendants. A total of four instruments were utilized by this study. Three instruments were administered to the generating station personnel. These included a demographic form, a learning style profile, and a motivational style profile. The focal instrument, a performance skills rating form, was administered to supervisory personnel. Data analysis consisted of three major parts. Part one established internal consistency through Cronbach alpha statistics. Part two provides summary statistics and breakdown tables for important variables. Part three provides inferential statistics responding to the research questions. All six Performance Skills variables discriminated significantly between the trained and non-trained groups (p .001). In all cases, the mean value for the trained group exceeded the mean value for the non-trained group. Implications for further research indicate that training does have a quantifiable effect on job performance

  7. An urban energy performance evaluation system and its computer implementation.

    Science.gov (United States)

    Wang, Lei; Yuan, Guan; Long, Ruyin; Chen, Hong

    2017-12-15

    To improve the urban environment and effectively reflect and promote urban energy performance, an urban energy performance evaluation system was constructed, thereby strengthening urban environmental management capabilities. From the perspectives of internalization and externalization, a framework of evaluation indicators and key factors that determine urban energy performance and explore the reasons for differences in performance was proposed according to established theory and previous studies. Using the improved stochastic frontier analysis method, an urban energy performance evaluation and factor analysis model was built that brings performance evaluation and factor analysis into the same stage for study. According to data obtained for the Chinese provincial capitals from 2004 to 2013, the coefficients of the evaluation indicators and key factors were calculated by the urban energy performance evaluation and factor analysis model. These coefficients were then used to compile the program file. The urban energy performance evaluation system developed in this study was designed in three parts: a database, a distributed component server, and a human-machine interface. Its functions were designed as login, addition, edit, input, calculation, analysis, comparison, inquiry, and export. On the basis of these contents, an urban energy performance evaluation system was developed using Microsoft Visual Studio .NET 2015. The system can effectively reflect the status of and any changes in urban energy performance. Beijing was considered as an example to conduct an empirical study, which further verified the applicability and convenience of this evaluation system. Copyright © 2017 Elsevier Ltd. All rights reserved.

  8. Pension Fund

    CERN Multimedia

    2006-01-01

    As announced in the Bulletin during the summer, the Pension Fund has published a complete new version of the Fund's Rules and Regulations incorporating all amendments up to 1 November 2006, following the decisions of the CERN Council. This new version of the Rules and Regulations can be downloaded in A4 format (pdf document) directly from the Pension Fund's website (http://pensions.web.cern.ch/Pensions/statuts___rules.htm for the Rules and http://pensions.web.cern.ch/Pensions/règlements___regulations.htm for the Regulations) or obtained from the Fund Administration (Tel. 022 767 27 42, Building 5, 1-030, or by e-mail Sophia.Revol@cern.ch).

  9. Pension Fund

    CERN Multimedia

    HR Department

    2009-01-01

    In line with the decisions taken by the Council in June and September 2007 concerning the new governance of the Pension Fund, amendments to Section 2 «Structure and Functions» of the Rules of the Fund entered into force on 1st January 2009 (Article I 2.08 – Composition of the Investment Committee and Article I 2.08bis – Chairman of the Investment Committee). Amendment n°27 may be downloaded (PDF document) directly from the Pension Fund website: http://pensions.web.cern.ch/Pensions/statuts___rules.htm or obtained from the Administration of the Fund (Tel. 022 767 2742, mailto:Barbara.Bordjah@cern.ch).

  10. Funding innovation

    CERN Multimedia

    Marina Giampietro

    2012-01-01

    For the first time, six knowledge and technology transfer activities are set to benefit from a dedicated fund made available by the Knowledge Transfer group. This initiative cements CERN’s commitment to sharing its technological knowledge and expertise with society.   GEM detectors for flame detection and early earthquake prediction, radio-frequency absorbers for energy recovery, and exotic radioisotopes for medical applications are among the projects funded by the recently introduced KT Fund. “CERN’s scientific programme generates a considerable amount of intellectual property, a natural driver for innovation,” explains Giovanni Anelli, Head of the Knowledge Transfer Group. “Very often, though, financial support is needed to bring the newly-born technologies a step further and make them ready for transfer to other research institutes or to companies.” This is where the KT fund comes into play. It provides vital support in the early sta...

  11. Evaluation of the Role of Public Outreach and Stakeholder Engagement in Stormwater Funding Decisions in New England

    Science.gov (United States)

    A detailed report examining the role of public outreach and stakeholder engagement in stormwater funding decisions based on the experiences of eleven small and medium-sized communities in New England.

  12. Evaluation of the Navy Implementation of DOD Financial Management Regulation, Volume 14, Administrative Control of Funds and Antideficiency Act Violations

    National Research Council Canada - National Science Library

    Lane, F

    1996-01-01

    On August 1, 1995, the Under Secretary of Defense (Comptroller) released for implementation Financial Management Regulation, volume 14, "Administrative Control of Funds and Antideficiency Act Violations," August 1, 1995...

  13. Performance evaluation of a distance learning program.

    OpenAIRE

    Dailey, D. J.; Eno, K. R.; Brinkley, J. F.

    1994-01-01

    This paper presents a performance metric which uses a single number to characterize the response time for a non-deterministic client-server application operating over the Internet. When applied to a Macintosh-based distance learning application called the Digital Anatomist Browser, the metric allowed us to observe that "A typical student doing a typical mix of Browser commands on a typical data set will experience the same delay if they use a slow Macintosh on a local network or a fast Macint...

  14. HENC performance evaluation and plutonium calibration

    International Nuclear Information System (INIS)

    Menlove, H.O.; Baca, J.; Pecos, J.M.; Davidson, D.R.; McElroy, R.D.; Brochu, D.B.

    1997-10-01

    The authors have designed a high-efficiency neutron counter (HENC) to increase the plutonium content in 200-L waste drums. The counter uses totals neutron counting, coincidence counting, and multiplicity counting to determine the plutonium mass. The HENC was developed as part of a Cooperative Research and Development Agreement between the Department of Energy and Canberra Industries. This report presents the results of the detector modifications, the performance tests, the add-a-source calibration, and the plutonium calibration at Los Alamos National Laboratory (TA-35) in 1996

  15. Performance Evaluation of Wave Energy Converters

    DEFF Research Database (Denmark)

    Pecher, Arthur

    . Guidelines for the development of wave energy converters recommend the use of different prototypes, having different sizes, which have to perform tank tests or sea trials. This implicates the need of different testing environment, which shifts from being controllable to uncontrollable with the development......, with more than 150 concepts currently being developed worldwide. Wave energy conversion concepts can be of many kinds, as the energy in the waves can be absorbed in many different ways. However, each concept is expected to require a thorough development process, involving different phases and prototypes...

  16. Performance evaluation of seal coat materials and designs.

    Science.gov (United States)

    2011-01-01

    "This project presents an evaluation of seal coat materials and design method. The primary objectives of this research are 1) to evaluate seal coat performance : from various combinations of aggregates and emulsions in terms of aggregate loss; 2) to ...

  17. Diverging diamond interchange performance evaluation (I-44 and Route 13)

    Science.gov (United States)

    2011-02-01

    Performance evaluation was conducted on the first diverging diamond interchange (DDI) or double : crossover interchange (DCD) constructed in the United States. This evaluation assessed traffic operations, safety and : public perceptions t...

  18. Pension Fund

    CERN Multimedia

    2004-01-01

    Amendment No 20 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Department/Unit secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2004, concerns the fixed sums and allowances adjusted at same date (Annex B).

  19. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The 2007 Annual Report and Accounts of the Pension Fund which was approved by Council at its session of 20 June 2008, is now available from the Departmental secretariats. Pension beneficiaries who wish to obtain this document should contact Emilie Clerc (Tel. + 41 22 767 87 98), building 5-5/017. It is also available on the Pension fund site: http://pensions.web.cern.ch/Pensions/

  20. Brazilian Resorts: an overall performance evaluation

    Directory of Open Access Journals (Sweden)

    Antonio Carlos Bonfato

    2016-05-01

    Full Text Available This scientific article is about resort’s operations in Brazil. The main goal was to identify the financial key performance indicators, so that it could contribute to a better comprehension about how the resorts area acts in Brazil. To achieve this goal, this study took researches which generated numbers and indicators that could establish a comparison between 2013 and 2014. The main sources were token from all resorts from the Associação Brasileira de Resorts - Resorts Brasil, as well as an interview with a renowned area professional. Other sources were token by the most important resorts books. There are actually 49 resorts which are part of the Brazilian Resorts Association-ABR/Resorts Brasil. This institution allowed the access to all its database, in which the associated resorts give numerical informations about its own performance. The resorts studied in this article were divided and studied in four big groups. The results showed that the national resorts market keeps increasing its statistics and improving its internal management processes and sales distribution. Revenues increased 6.34% in the main analysed indicator during the years of 2013 and 2014. It was also observed that beach and all inclusive resorts tend to have better results.

  1. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The Pension Fund Governing Board (PFGB) held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, responsi...

  2. Pension fund

    CERN Multimedia

    2006-01-01

    At its June 2006 meeting, the Finance Committee approved the following amendment to Article 6a of the Regulations for elections to the Governing Board of the Pension Fund, which will enter into force on 1.7.2006: Current text New text ... 6a. The Administrator of the Fund shall be responsible for holding the elections and for issuing all relevant information. ... ... 6a. The Administrator of the Fund shall be responsible for holding the elections by electronic voting or, if this method cannot be used, following the procedure outlined in Articles 6i., 6j. and 6k. below. He shall issue to the members of the Pension Fund all relevant information concerning the elections. The deadlines mentioned in paragraphs 6i. and 6j. below shall apply mutatis mutandis to electronic voting. ... The amendment will allow the Pension Fund to use an electronic voting procedure for the election of elected members to the Governing Board of the Fund. It will be included in a complete new edition of the Rules and Regulatio...

  3. Burar seismic station: evaluation of seismic performance

    International Nuclear Information System (INIS)

    Ghica, Daniela; Popa, Mihaela

    2005-01-01

    A new seismic monitoring system, the Bucovina Seismic Array (BURAR), has been established since July 2002, in the Northern part of Romania, in a joint effort of the Air Force Technical Applications Center, USA, and the National Institute for Earth Physics (NIEP), Romania. The small-aperture array consists of 10 seismic sensors (9 vertical short-period and one three-component broad band) located in boreholes and distributed in a 5 x 5 km 2 area. At present, the seismic data are continuously recorded by the BURAR and transmitted in real-time to the Romanian National Data Center in Bucharest and National Data Center of the USA, in Florida. Based on the BURAR seismic information gathered at the National Data Center, NIEP (ROM N DC), in the August 2002 - December 2004 time interval, analysis and statistical assessments were performed. Following the preliminary processing of the data, several observations on the global performance of the BURAR system were emphasized. Data investigation showed an excellent efficiency of the BURAR system particularly in detecting teleseismic and regional events. Also, a statistical analysis for the BURAR detection capability of the local Vrancea events was performed in terms of depth and magnitude for the year 2004. The high signal detection capability of the BURAR resulted, generally, in improving the location solutions for the Vrancea seismic events. The location solution accuracy is enhanced when adding BURAR recordings, especially in the case of low magnitude events (recorded by few stations). The location accuracy is increased, both in terms of constraining hypocenter depth and epicentral coordinates. Our analysis certifies the importance of the BURAR system in NIEP efforts to elaborate seismic bulletins. Furthermore, the specific procedures for array data processing (beam forming, f-k analysis) increase significantly the signal-to-noise ratio by summing up the coherent signals from the array components, and ensure a better accuracy

  4. performance evaluation of a pilot paraplegic centricity mobility aid

    African Journals Online (AJOL)

    eobe

    PERFORMANCE EVALUATION OF A PILOT PARAPLEGIC CENTRICITY. MOBILITY AID. MOBILITY ... The result of the test showed a remarkable improvement in. Wilcoxin's signed rank test. .... RESEARCH METHOD. RESEARCH METHOD.

  5. performance evaluation of sprinkler irrigation system at mambilla

    African Journals Online (AJOL)

    HOD

    ratio (DPR), irrigation productivity (IP), labour requirements and water quality. Standard procedure was ... The exchangeable cations analysis of Kakara irrigation ... Keywords: Tea, irrigation System, Performance Evaluation. 1. INTRODUCTION.

  6. An hierarchical approach to performance evaluation of expert systems

    Science.gov (United States)

    Dominick, Wayne D. (Editor); Kavi, Srinu

    1985-01-01

    The number and size of expert systems is growing rapidly. Formal evaluation of these systems - which is not performed for many systems - increases the acceptability by the user community and hence their success. Hierarchical evaluation that had been conducted for computer systems is applied for expert system performance evaluation. Expert systems are also evaluated by treating them as software systems (or programs). This paper reports many of the basic concepts and ideas in the Performance Evaluation of Expert Systems Study being conducted at the University of Southwestern Louisiana.

  7. Evaluation of teachers' performance of vision screening in primary

    African Journals Online (AJOL)

    Dr. Petronilla

    Evaluation of Teachers' Performance of Vision Screening in Primary. School Children in Port ... teachers can effectively perform vision screening in school children using ..... may be due to variations in methodology and definitions used, as this ...

  8. PERFORMANCE EVALUATION OF TYPE I MARINE SANITATION DEVICES

    Science.gov (United States)

    This performance test was designed to evaluate the effectiveness of two Type I Marine Sanitation Devices (MSDs): the Electro Scan Model EST 12, manufactured by Raritan Engineering Company, Inc., and the Thermopure-2, manufactured by Gross Mechanical Laboratories, Inc. Performance...

  9. Evaluation of performance of extension workers in Lesotho | Mokone ...

    African Journals Online (AJOL)

    Evaluation of performance of extension workers in Lesotho. ... role to play in ensuring that extension workers improve their work performance and as ... This cannot be true since most of the factors that affect efficiency were found to be negative.

  10. Performance evaluation of a distance learning program.

    Science.gov (United States)

    Dailey, D J; Eno, K R; Brinkley, J F

    1994-01-01

    This paper presents a performance metric which uses a single number to characterize the response time for a non-deterministic client-server application operating over the Internet. When applied to a Macintosh-based distance learning application called the Digital Anatomist Browser, the metric allowed us to observe that "A typical student doing a typical mix of Browser commands on a typical data set will experience the same delay if they use a slow Macintosh on a local network or a fast Macintosh on the other side of the country accessing the data over the Internet." The methodology presented is applicable to other client-server applications that are rapidly appearing on the Internet.

  11. Performance Evaluation of Wave Energy Converters

    DEFF Research Database (Denmark)

    Pecher, Arthur

    Ocean waves provide a sustainable, power-dense, predictable and widely available source of energy that could provide about 10 % of worlds energy needs. While research into waveenergy has been undertaken for decades, a significant increase in related activities has been seen in the recent years......, with more than 150 concepts currently being developed worldwide. Wave energy conversion concepts can be of many kinds, as the energy in the waves can be absorbed in many different ways. However, each concept is expected to require a thorough development process, involving different phases and prototypes....... Guidelines for the development of wave energy converters recommend the use of different prototypes, having different sizes, which have to perform tank tests or sea trials. Thisimplicates the need of different testing environment, which shifts from being controllable to uncontrollable with the development...

  12. Investible benchmarks & hedge fund liquidity

    OpenAIRE

    Freed, Marc S; McMillan, Ben

    2011-01-01

    A lack of commonly accepted benchmarks for hedge fund performance has permitted hedge fund managers to attribute to skill returns that may actually accrue from market risk factors and illiquidity. Recent innovations in hedge fund replication permits us to estimate the extent of this misattribution. Using an option-based model, we find evidence that the value of liquidity options that investors implicitly grant managers when they invest may account for part or even all hedge fund returns. C...

  13. Evaluating Models of Human Performance: Safety-Critical Systems Applications

    Science.gov (United States)

    Feary, Michael S.

    2012-01-01

    This presentation is part of panel discussion on Evaluating Models of Human Performance. The purpose of this panel is to discuss the increasing use of models in the world today and specifically focus on how to describe and evaluate models of human performance. My presentation will focus on discussions of generating distributions of performance, and the evaluation of different strategies for humans performing tasks with mixed initiative (Human-Automation) systems. I will also discuss issues with how to provide Human Performance modeling data to support decisions on acceptability and tradeoffs in the design of safety critical systems. I will conclude with challenges for the future.

  14. Relationship between kinesiophobia and performance in a functional capacity evaluation

    NARCIS (Netherlands)

    Reneman, MF; Jorritsma, W; Dijkstra, SJ; Dijkstra, PU

    2003-01-01

    Fear of movement and (re) injury (kinesiophobia) has been postulated to play an important role in the performance in a Functional Capacity Evaluation (FCE). This study was performed to analyze the relationship between kinesiophobia and performance in an FCE. Kinesiophobia and FCE performance of 54

  15. Brookfield Homes Passive House Performance Evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Herk, A. [IBACOS, Inc., Pittsburgh, PA (United States); Poerschke, A. [IBACOS, Inc., Pittsburgh, PA (United States); Beach, R. [IBACOS, Inc., Pittsburgh, PA (United States)

    2016-02-04

    In 2012-2013, IBACOS worked with a builder, Brookfield Homes in Denver, Colorado, to design and construct a Passive House certified model home. IBACOS used several modeling programs and calculation methods to complete the final design package along with Brookfield's architect KGA Studio. This design package included upgrades to the thermal enclosure, basement insulation, windows, and heating, ventilation, and air conditioning. Short-term performance testing in the Passive House was done during construction and after construction. Testing with a blower door indicated that whole-building air leakage to the outside was 324 CFM and 0.60 ACH50. The other two test homes had little short-term testing done post-construction by the local energy rater. IBACOS then monitored the energy consumption and whole-house comfort conditions of that occupied Passive House after one year of operation and compared the monitoring results to those for two other occupied test houses in the same area with similar square footage but slightly different floor plans. IBACOS also assisted the builder, Brookfield Homes, in researching design scenarios for Zero Energy Ready Home and ENERGY STAR acceptance levels. IBACOS also assisted Brookfield in conceptualizing product for Denver's Brighton Heights area. Brookfield was considering building to Zero Energy Ready Home standards in that location. IBACOS provided strategies that Brookfield may draw from in the event the builder chooses to pursue a Zero Energy Ready Home plan for that market.

  16. Performance evaluation of breast image compression techniques

    Energy Technology Data Exchange (ETDEWEB)

    Anastassopoulos, G; Lymberopoulos, D [Wire Communications Laboratory, Electrical Engineering Department, University of Patras, Greece (Greece); Panayiotakis, G; Bezerianos, A [Medical Physics Department, School of Medicine, University of Patras, Greece (Greece)

    1994-12-31

    Novel diagnosis orienting tele working systems manipulate, store, and process medical data through real time communication - conferencing schemes. One of the most important factors affecting the performance of these systems is image handling. Compression algorithms can be applied to the medical images, in order to minimize : a) the volume of data to be stored in the database, b) the demanded bandwidth from the network, c) the transmission costs, and to minimize the speed of the transmitted data. In this paper an estimation of all the factors of the process that affect the presentation of breast images is made, from the time the images are produced from a modality, till the compressed images are stored, or transmitted in a Broadband network (e.g. B-ISDN). The images used were scanned images of the TOR(MAX) Leeds breast phantom, as well as typical breast images. A comparison of seven compression techniques has been done, based on objective criteria such as Mean Square Error (MSE), resolution, contrast, etc. The user can choose the appropriate compression ratio in order to achieve the desired image quality. (authors). 12 refs, 4 figs.

  17. Performance evaluation of breast image compression techniques

    International Nuclear Information System (INIS)

    Anastassopoulos, G.; Lymberopoulos, D.; Panayiotakis, G.; Bezerianos, A.

    1994-01-01

    Novel diagnosis orienting tele working systems manipulate, store, and process medical data through real time communication - conferencing schemes. One of the most important factors affecting the performance of these systems is image handling. Compression algorithms can be applied to the medical images, in order to minimize : a) the volume of data to be stored in the database, b) the demanded bandwidth from the network, c) the transmission costs, and to minimize the speed of the transmitted data. In this paper an estimation of all the factors of the process that affect the presentation of breast images is made, from the time the images are produced from a modality, till the compressed images are stored, or transmitted in a Broadband network (e.g. B-ISDN). The images used were scanned images of the TOR(MAX) Leeds breast phantom, as well as typical breast images. A comparison of seven compression techniques has been done, based on objective criteria such as Mean Square Error (MSE), resolution, contrast, etc. The user can choose the appropriate compression ratio in order to achieve the desired image quality. (authors)

  18. Evaluating Judicial Performance and Addressing Gender Bias

    Directory of Open Access Journals (Sweden)

    Angela Melville

    2014-12-01

    Full Text Available Elek and Rottman argue that judicial evaluation is often biased against women and minority judges. The need to address bias is important, however often the desire for diversity seems so self-evident as to belie deeper analysis. This paper examines the two main rationales for gender equality on the bench. First, female judges are often considered necessary in order to bring a gendered perspective to judging, however it is argued that this rationale is flawed. Second, an alternative rationale based on equality and legitimacy is offered which avoids gender essentialism. While debates typically focus on these two rationales, a third rationale embraces both difference and equality/legitimacy. The presence of female judges has an important symbolic value which destabilises existing fraternal legal norms. Finally, increasing the number of female judges may not necessarily change judging, and this paper also analyses how the transformative potential offered by judicial diversity can work in practice. Elek y Rottman defienden que la evaluación judicial suele estar sesgada en contra de las mujeres y los jueces pertenecientes a minorías. La necesidad de abordar el sesgo es importante, sin embargo a menudo el deseo de diversidad parece tan evidente como para contradecir un análisis más profundo. Este artículo examina los dos motivos principales para la igualdad de género en el banquillo. En primer lugar, las mujeres jueces a menudo se consideran necesarias para aportar una perspectiva de género al hecho de juzgar, sin embargo, se defiende que este razonamiento es erróneo. En segundo lugar, se ofrece una alternativa lógica basada en la igualdad y la legitimidad que evita el esencialismo de género. Mientras que los debates suelen centrarse en estas dos razones, una tercera justificación abarca tanto la diferencia como la igualdad/legitimidad. La presencia de mujeres en la judicatura tiene un importante valor simbólico que desestabiliza las normas

  19. Performances evaluation of different open source

    Directory of Open Access Journals (Sweden)

    Arun Patel

    2016-06-01

    Full Text Available In Open sources DEMs such as SRTM, ASTER and Cartosat-1, various factors affecting the accuracy of satellite based DEM such as errors during data collection, systematic errors and unknown errors that are geographically dependent on terrain conditions cannot be avoided. For these reasons it is very necessary to check and compare the performances and validation of the above mentioned different satellite based DEMs. Accuracy assessment of these DEM has been done using DGPS points. For these points proper interpolation of the surface was developed using different interpolation techniques. For the generation of the surface the first step was converting the satellite based DEMs height into linear interpolation contour maps of 1 m interval. Then came selecting random sample points on the contour line and generating the interpolated surface using different interpolation techniques such as IDW, GPI, RBF, OK and UK, LPI, TR and BI, which are commonly used in geomorphology research. This interpolated surface helps in proper representation of the terrain and was checked under different terrain surfaces. For validation of DGPS points the height was taken for ground control points and standard statistical tests such as ME and RMSE were applied. From above investigation, it is reveals that above mention DEMs which are used for study. Cartosat-1 (30 m data product is better than SRTM (90 m and ASTER (30 m because it had produced low RMSE of 3.49 m without applying the interpolation method. Investigation also reveals after applying the interpolation techniques on this data error can be reduced. In the case of Cartosat-1 and SRTM, low RMSE and ME were produced by the BI method, where Cartosat-1 DEM had an RMSE of 3.36 m with ME of −2.74 m, respectively. But in this case, RMSE and ME of SRTM is 2.73 m and −0.36 m, respectively. BI is designed for image processing and can be used for imagery were a maximum height variation in satellite DEM and terrain

  20. Performance evaluation methods and instrumentation for mine ventilation fans

    Institute of Scientific and Technical Information of China (English)

    LI Man; WANG Xue-rong

    2009-01-01

    Ventilation fans are one of the most important pieces of equipment in coal mines. Their performance plays an important role in the safety of staff and production. Given the actual requirements of coal mine production, we instituted a research project on the measurement methods of key performance parameters such as wind pressure, amount of ventilation and power. At the end a virtual instrument for mine ventilation fans performance evaluation was developed using a USB interface. The practical perform-ance and analytical results of our experiments show that it is feasible, reliable and effective to use the proposed instrumentation for mine ventilation performance evaluation.

  1. PENSION FUND

    CERN Multimedia

    1999-01-01

    The Governing Board of the Pension Fund held its first three meetings of the year on 2 February, 2 March and 13 April.At the first of these meetings the Board first heard a presentation by Mrs H. Richmond of JP Morgan on the results of the currency overlay programme applied to the Fund's assets. Thanks to the policy pursued by this company, volatility, i.e. portfolio risk for assets denominated in currencies other than the Swiss franc, has been reduced. However, despite the fact that JP Morgan has considerable expertise in this field, no gain has been achieved over the past year. The Governing Board heard a report by the Investment Committee Chairman G. Maurin on the meetings of 21-22 and 28 January at which the Pension Fund's various fund managers had been interviewed on their results. Decisions were taken on benchmarks aimed at optimising management and on the terms of reference of the Internal Management Unit. It was also decided to place two fund managers on a watching list and to request them to make eve...

  2. Pension Fund

    CERN Multimedia

    HR Department

    2008-01-01

    The PFGB held two meetings over the summer, the first on 9 June and the second on 1st September. The agendas of the two meetings had several items in common, including progress reports on the work of the four working groups. Group 1, which is responsible for the revision of Chapter I, Section 2 of the Rules of the Fund, has made good progress but will need more time to complete its terms of reference in view of the number and complexity of the articles to be amended. In parallel, the Group has approved a code of conduct for the Pension Fund, which is based, in particular, on the new charter introduced for Swiss pension funds by the Swiss Association of Provident Institutions (ASIP) and the CFA (Chartered Financial Analyst) code of ethics applicable to members of pension fund bodies. The PFGB took note that the Group had also been working on the rules relating to the status of the personnel of the Fund and the composition of the Investment Committee. The work of Group 2, resp...

  3. Performance-based evaluation of graphic displays for nuclear-power-plant control rooms

    International Nuclear Information System (INIS)

    Petersen, R.J.; Banks, W.W.; Gertman, D.I.

    1982-01-01

    This paper reports several methodologies for evaluating the perceptual and perceptual/decision making aspects of displays used in the control rooms of nuclear power plants. This NRC funded study focuses upon the Safety Parameter Display System (SPDS) and relates the utility of the display to objective performance and preference measures obtained in experimental conditions. The first condition is a traditional laboratory setting where classical experimental methodologies can be employed. The second condition is an interactive control room simulation where the operator's performance is assessed while he/she operates the simulator. The third condition is a rating scale designed to assess operator preferences and opinions regarding a variety of display formats. The goal of this study is the development of a cost-efficient display evaluation methodology which correlates highly with the operator's ability to control a plant

  4. Who Should Evaluate Teachers' Performance at Schools?

    Science.gov (United States)

    Tabancali, Erkan

    2017-01-01

    Correct determination of whether or not the objectives are achieved or of the level of achievement of the objectives is vital in educational organizations. In this context, one of the indicators of how teachers serve the organizational objectives is performance evaluation. In Turkish Educational System, the evaluation of the performance of…

  5. 48 CFR 36.201 - Evaluation of contractor performance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Evaluation of contractor performance. 36.201 Section 36.201 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION... Contracting for Construction 36.201 Evaluation of contractor performance. See 42.1502(e) for the requirements...

  6. Research on Performance Evaluation by IDSS Based on AHP

    Directory of Open Access Journals (Sweden)

    Tang Xuelian

    2013-03-01

    Full Text Available Talent resource is the primary resource. There are two sides as the starting point and foothold in this paper. One is how to evaluate the performance of science and technology talents flow by IDSS (Intelligence Decision Supporting System. Another is how to guide the innovation work of science and technology according to the evaluation results. The evaluation index on performance system has hierarchical structure. So AHP (Analytic Hierarchy Process is applied to evaluate the performance. Evaluation model is established and illustrated by the cases in this paper. It can be seen that the flow of performance is influenced by the growth rate of important scientific and technological achievements. Furthermore, some constructive suggestions are given based on the results of evaluation.

  7. Evaluating Nonclinical Performance of the Academic Pathologist: A Comprehensive, Scalable, and Flexible System for Leadership Use.

    Science.gov (United States)

    Wiles, Austin Blackburn; Idowu, Michael O; Clevenger, Charles V; Powers, Celeste N

    2018-01-01

    Academic pathologists perform clinical duties, as well as valuable nonclinical activities. Nonclinical activities may consist of research, teaching, and administrative management among many other important tasks. While clinical duties have many clear metrics to measure productivity, like the relative value units of Medicare reimbursement, nonclinical performance is often difficult to measure. Despite the difficulty of evaluating nonclinical activities, nonclinical productivity is used to determine promotion, funding, and inform professional evaluations of performance. In order to better evaluate the important nonclinical performance of academic pathologists, we present an evaluation system for leadership use. This system uses a Microsoft Excel workbook to provide academic pathologist respondents and reviewing leadership a transparent, easy-to-complete system that is both flexible and scalable. This system provides real-time feedback to academic pathologist respondents and a clear executive summary that allows for focused guidance of the respondent. This system may be adapted to fit practices of varying size, measure performance differently based on years of experience, and can work with many different institutional values.

  8. At-Risk Youth Appearance and Job Performance Evaluation

    Science.gov (United States)

    Freeburg, Beth Winfrey; Workman, Jane E.

    2008-01-01

    The goal of this study was to identify the relationship of at-risk youth workplace appearance to other job performance criteria. Employers (n = 30; each employing from 1 to 17 youths) evaluated 178 at-risk high school youths who completed a paid summer employment experience. Appearance evaluations were significantly correlated with evaluations of…

  9. Market behavior and performance of different strategy evaluation schemes

    OpenAIRE

    Yongjoo Baek; Sang Hoon Lee; Hawoong Jeong

    2010-01-01

    Strategy evaluation schemes are a crucial factor in any agent-based market model, as they determine the agents' strategy preferences and consequently their behavioral pattern. This study investigates how the strategy evaluation schemes adopted by agents affect their performance in conjunction with the market circumstances. We observe the performance of three strategy evaluation schemes, the history-dependent wealth game, the trend-opposing minority game, and the trend-following majority game,...

  10. Pension Fund

    CERN Multimedia

    2003-01-01

    Amendment No 19 to the Rules and Regulations of the Pension Fund has just been published and can be obtained from Divisional secretariats or, in the case of pensioners, directly from the Administration of the Fund (tel. 767-91 94/27 38), bldg 5, 1-030. This Amendment, which entered into force on 1.1.2003, concerns 1) the fixed sums and allowances adjusted at same date (Annex B) and 2) the articles which have been amended, in accordance with the Finance Committee's decision, regarding voting rules of the Governing Board and the role and composition of the Investment Committee.

  11. Investing American Recovery and Reinvestment Act Funds to Advance Capability, Reliability, and Performance in NASA Wind Tunnels

    Science.gov (United States)

    Sydnor, Goerge H.

    2010-01-01

    The National Aeronautics and Space Administration's (NASA) Aeronautics Test Program (ATP) is implementing five significant ground-based test facility projects across the nation with funding provided by the American Recovery and Reinvestment Act (ARRA). The projects were selected as the best candidates within the constraints of the ARRA and the strategic plan of ATP. They are a combination of much-needed large scale maintenance, reliability, and system upgrades plus creating new test beds for upcoming research programs. The projects are: 1.) Re-activation of a large compressor to provide a second source for compressed air and vacuum to the Unitary Plan Wind Tunnel at the Ames Research Center (ARC) 2.) Addition of high-altitude ice crystal generation at the Glenn Research Center Propulsion Systems Laboratory Test Cell 3, 3.) New refrigeration system and tunnel heat exchanger for the Icing Research Tunnel at the Glenn Research Center, 4.) Technical viability improvements for the National Transonic Facility at the Langley Research Center, and 5.) Modifications to conduct Environmentally Responsible Aviation and Rotorcraft research at the 14 x 22 Subsonic Tunnel at Langley Research Center. The selection rationale, problem statement, and technical solution summary for each project is given here. The benefits and challenges of the ARRA funded projects are discussed. Indirectly, this opportunity provides the advantages of developing experience in NASA's workforce in large projects and maintaining corporate knowledge in that very unique capability. It is envisioned that improved facilities will attract a larger user base and capabilities that are needed for current and future research efforts will offer revenue growth and future operations stability. Several of the chosen projects will maximize wind tunnel reliability and maintainability by using newer, proven technologies in place of older and obsolete equipment and processes. The projects will meet NASA's goal of

  12. Comparing the determinants of fund flows in domestically managed Malaysian Islamic and conventional equity funds.

    OpenAIRE

    Othman, J.; Asutay, M.; Jamailan, N.

    2018-01-01

    Purpose: This paper aims to provide an empirical evidence on the fund flows-past return performance relationship by also considering the management expense ratio, the portfolio turnover, the fund size and the fund age of Islamic equity funds (IEF) investors in comparison with conventional equity funds (CEF) investors. Design/methodology/approach: By using panel data, the sample of Malaysian domestic managed equity funds are considered comprised of 20 individual funds from IEF a...

  13. Irradiation test and performance evaluation of DUPIC fuel

    International Nuclear Information System (INIS)

    Yang, Myung Seung; Song, K. C.; Moon, J. S.

    2002-05-01

    The objective of the project is to establish the performance evaluation system of DUPIC fuel during the Phase II R and D. In order to fulfil this objectives, irradiation test of DUPIC fuel was carried out in HANARO using the non-instrumented and SPND-instrumented rig. Also, the analysis on the in-reactor behavior analysis of DUPIC fuel, out-pile test using simulated DUPIC fuel as well as performance and integrity assessment in a commercial reactor were performed during this Phase. The R and D results of the Phase II are summarized as follows : - Performance evaluation of DUPIC fuel via irradiation test in HANARO - Post irradiation examination of irradiated fuel and performance analysis - Development of DUPIC fuel performance code (modified ELESTRES) considering material properties of DUPIC fuel - Irradiation behavior and integrity assessment under the design power envelope of DUPIC fuel - Foundamental technology development of thermal/mechanical performance evaluation using ANSYS (FEM package)

  14. An approach for evaluating expert performance in emergency situations

    International Nuclear Information System (INIS)

    Ujita, Hiroshi; Kawano, Ryutaro; Yoshimura, Sandanori

    1995-01-01

    To understand expert behavior and define what constitutes good performance in emergency situations in huge and complex plants, human performance evaluation should be made from viewpoints of not only error, but also various cognitive, psychological, and behavioral characteristics. Quantitative and qualitative measures of human performance are proposed for both individual operators and crews, based on the operator performance analysis experiment, among which cognitive and behavioral aspects are the most important. Operator performance should be further analyzed experimentally from the cognitive and behavioral viewpoints, using an evaluation based on various gross indexes considering operator's tasks which should be done in response to plant situations

  15. Performance evaluation methodology for historical document image binarization.

    Science.gov (United States)

    Ntirogiannis, Konstantinos; Gatos, Basilis; Pratikakis, Ioannis

    2013-02-01

    Document image binarization is of great importance in the document image analysis and recognition pipeline since it affects further stages of the recognition process. The evaluation of a binarization method aids in studying its algorithmic behavior, as well as verifying its effectiveness, by providing qualitative and quantitative indication of its performance. This paper addresses a pixel-based binarization evaluation methodology for historical handwritten/machine-printed document images. In the proposed evaluation scheme, the recall and precision evaluation measures are properly modified using a weighting scheme that diminishes any potential evaluation bias. Additional performance metrics of the proposed evaluation scheme consist of the percentage rates of broken and missed text, false alarms, background noise, character enlargement, and merging. Several experiments conducted in comparison with other pixel-based evaluation measures demonstrate the validity of the proposed evaluation scheme.

  16. Reducing the Effects of Gender Stereotypes on Performance Evaluations.

    Science.gov (United States)

    Bauer, Cara C.; Baltes, Boris B.

    2002-01-01

    Examined whether a structured free recall intervention could decrease the influence of traditional gender stereotypes on the performance evaluations of women. College students provided performance ratings for vignettes describing the performance of male and female professors. Without the intervention, raters who had traditional stereotypes…

  17. 48 CFR 3036.201 - Evaluation of contractor performance.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Evaluation of contractor performance. 3036.201 Section 3036.201 Federal Acquisition Regulations System DEPARTMENT OF HOMELAND SECURITY... contractor performance. (a)(2) Performance reports shall be prepared and entered into the Contractor...

  18. Pension Fund

    CERN Multimedia

    2006-01-01

    Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats.In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text): Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: The reference salary of a member with a contract for part-time work shall b...

  19. Pension Fund

    CERN Multimedia

    2006-01-01

    Following the approval by the CERN Council, at its Session in March 2006, of the amendments to Administrative Circular No. 14 (Protection of the members of the personnel against the financial consequences of illness, accident and disability) and the resulting amendments to the Rules and Regulations of the Pension Fund, which entered into force on 1st July 2006, the Administration of the Fund has decided to publish a complete new edition of the Rules and Regulations incorporating all amendments up to 1st July 2006. Members of the Fund will be informed once the new edition of the Rules and Regulations is available from Departmental secretariats. In the meantime, the amendments to the text of the Pension Fund Rules and Regulations, which entered into force on 1st July 2006, are presented below (Previous text/Amended text) : Chapter II - Section 1: Contributions and benefits Article II 1.04 - Reference Salary - Part-time Work OLD TEXT: the reference salary of a member with a contract for part-time work shall be e...

  20. Lessons from the Social Innovation Fund: Supporting Evaluation to Assess Program Effectiveness and Build a Body of Research Evidence

    Science.gov (United States)

    Zandniapour, Lily; Deterding, Nicole M.

    2018-01-01

    Tiered evidence initiatives are an important federal strategy to incentivize and accelerate the use of rigorous evidence in planning, implementing, and assessing social service investments. The Social Innovation Fund (SIF), a program of the Corporation for National and Community Service, adopted a public-private partnership approach to tiered…