M. Onopko, post-graduate student Taras Shevchenko National University of Kyiv, Kyiv PECULIARITIES OF PERFORMANCE MEASUREMENT IN SOVEREIGN WEALTH FUNDS

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.

Keywords: sovereign wealth funds, performance measurement, economic policy, strategy.

DOI: http://dx.doi.org/10.17721/1728-2667.2014/154-1/21

References
  1. Johnson H. T. Relevance lost: the rise and fall of management accounting./ H.T. Johnson and R.S. Kaplan. Harvard Business School Press. – Cambridge, MA. – 1987. – 269 c.
  2. Sinclair D. and Zairi, M. (2000) Performance measurement: a critical analysis of the literature with respect to total quality management. / D. Sinclair and M. Zairi // International Journal of Management Reviews. – № 2. – 2000. – С. 145 – 168.
  3. Chenhall R. Multiple Perspectives of Performance Measures / R. H. Chenhall, K. Langfield-Smith, // European Management Journal. – Volume 25. – Issue 4. – 2007. – C. 266-282.
  4. Franco-Santos M. Contemporary performance measurement systems: A review of their consequences and a framework for research. / M. Franco-Santos, L. Lucianetti, M. Bourne // Management Accounting Research. – Volume 23. – Issue 2. – June 2012. – C. 79-119.
  5. Otley D. Management control in contemporary organizations: towards a wider framework / D. Otley // Management Accounting Research. – Volume 5. – Issues 3–4, September 1994. – C. 289-299.
  6. Neimark, M. The social construction of management control systems. / M. Neimark and T. Tinker // Accounting, Organizations and Society. – 11(4-5). – 1986. – C. 369-395.
  7. Modell S. Performance measurement and institutional processes: a study of managerial responses to public sector reform. / S. Modell // Management Accounting Research. – Volume 12. – Issue 4. – December 2001. – C. 437-464.
  8. Jackson M. C. Organisation Design and Behaviour. / M.C. Jackson. – An MBA Manual. – University of Hull. – Hull. – 1990.
  9. Fotak V. Are SWFs Welcome Now? / V. Fotak, W. Megginson. – 2009 [Electronic resource] Mode of access: http://www.gresi-cetai.hec.ca/cref/sem/documents/081107.pdf
  10. Bolton P. Sovereign wealth funds and long-term investing / [edited by Patrick Bolton, Frederic Samama, and Joseph E. Stiglitz.]. Perseus Books Group. Kindle Edition.2011. – 220 c.
  11. Introduction to the Balanced Scorecard for the public Sector [Electronic resource] Mode of access: http://stellarleadership.com/docs/Leadership%20Blog/Introduction%20to%20the%20Balanced%20Scorecard%20for%20the %20Public%20Sector%20V8.pdf
  12. Ghosh D.K. The global structure of financial markets: an overview/edited by D. K. Ghosh and Edgar Ortiz [[Electronic resource] Mode of access: http://www.paginaspersonales.unam.mx/files/274/Publica_20110707042411.pdf
  13. Underhill G. International Financial Governance under Stress : Global Structures Versus National Imperatives. / G. Underhill, X. Zhang. – West Nyack, NY, USA: Cambridge University Press. – 2003. [Electronic resource] Mode of access:http://site.ebrary.com/lib/hbobib/Doc?id=10064292&ppg=17
  14. Bushee B.J. Do institutional investors prefer near-term earnings over long-run value? / B.J. Bushee [Electronic resource] Mode of access:http://acct3.wharton.upenn.edu/faculty/bushee/bb01.pdf
  15. The Role of Institutional Investors in Promoting Good Corporate Governance, Corporate Governance, OECD Publishing, 2011 [Electronic resource] Mode of access:http://www.oecd.org/daf/ca/corporategovernanceprinciples/ 49081553.pdf
  16. Economics of sovereign wealth funds: issues for policymakers / edited by Udaibir S. Das, Adnan Mazarei, and Han van der Hoorn. – Washington D.C.: International Monetary Fund, 2010. – 300 р.
  17. Scorecarding for the public sector: Align goals, deliver results [Electronic resource] Mode of access: http://www.majorcities.eu/generaldocuments/pdf/ibm_government_scoring_service.pdf

 

Download