第二学期期末考ma paper研究假设这词意思是说部分代替整体

LectureAdvancedmanagementfinancialDivisionalisationresponsibilityaccounting的含义的优缺点EVABevan撰文原因：ernmentsintheUKdevelopedasystemofernanceofpublicservicesthatcombinedtargetswithanelementofterror.ThishasobviousparallelswiththeSovietregime,whichwasinitiallysuccessfulbutthencollapsed.thatproblemsofmeasurementandgamingdonotmatter.研究方法：useadequatecurrentauditarrangementandwaysofdeveloernancebytargetstocountertheproblems.论据：TargetsaresometimeskeptsecretRewardsandsanctionsareeasytostatebaldlybutareoftendeeplyproblematicinpractice.rewardsandsanctionsareeasytostatebaldlybutareoftendeeplyproblematicinpractice.cheatingandestablishingcommitment方法:Establishmentofindependentthirdpartiesasregulatorsorevaluators.作者结论：theimplicittheoryofernancebytargetsrequirestwosetsofheroicassumptionstobesatisfied:ofrobustsynecdoche,andgame-proofdesign.enoughevidenceshowedthattheseassumptionsarenotjustified.ThetransparencyofthesysteminrealtimeseemstohaveexacerbatedGresham'slawofreactivegamingmakingsystemsofernancebytargetsmoreproofagainstsynecdocheandgamingdifficulties,bymodifiedwaysofspecifyingtargets,measuringperformanceandmonitoringbehavior.文章目前：tounderstandandexinthisphenomenon,thispaperpresentsexamplesfromsociety,fromorganizationsingeneral,andfromprofitmakingfirmsinparticularanumerousexamplesexistofrewardsystemsthatarefouledupinthatbehaviorswhicharerewardedarethosewhichthere-warderistryingtodiscourage,whilethebehaviorhedesiresisnotbeingre-wardedatall.OurresultsindicatethatforsomeorganisationsVBMismerelyrhetoricwhileforothersitseemstohaveanimpactonbothdecisionmakingandcontrolsystem,takingvariousformsfromonefirmtoanother.Insomeorganisations,applicationofVBMisrestrictedonlytothehighestlevelsofhierarchy,Whereasinothersitcoversthewholeorganisation.However,innoneofthestudiedorganisationsisVBMappliedinascomprehensiveamannerassuggestedinthenormativeliture.ThismultitudeofdifferentwaysinwhichVBMisactuallyusedinpracticeraisessomeproblemsregardingthestudyofVBManditsbenefits.ThismultitudeofdifferentwaysinwhichVBMisactuallyusedinpracticeraisessomeproblemsregardingthestudyofVBManditsbenefits.Inparticular,theadoptionofEVA,asa本文论述缺点：例证非常狭隘，不具备代表性.Data

informationfromaninsurancefirmareexaminedtodemonstratetheconsequencesofsuchrewardsystemsfortheorganizationsinvolved,andpossiblereasonswhysuchrewardsystemscontinuetoexistareconsideredSocietalGeneralorganizational:RehabilitationCentersandOrphanages;Universities;BUSINESSRELATED:Ecology;EvaluationofTraining;Miscellaneous;TWOCOMPANIES'EXPERIENCES:AManufacturingOrganization;AnInsuranceFascinationwithan"Objective"CriterionOveremphasisonHighlyVisibleBehaviorsEmphasisonMoralityorEquityRatherthanEfficiencyselecttrainingrewardAfirststepforsuchmanagersmightbetofindoutwhatbehaviorscurrentlyarebeingrewarded，Thisisnottosaythatallorganizationalbehaviorisdeterminedbyformalrewardsandpunishments.ItmightbewisetounderscoretheobviousfactthatthereisnothingreallynewinwhathasbeensaidByalteringtherewardsystemtheorganizationescapesthenecessityofselectingonlydesirablepeopleoroftryingtoalterundesirableones.Theyrefertoaman'sbehavingwelldespitetheabsenceofpositivereinmentthatisobviouslysufficienttoexinit.Wheresuchreinmentexists,'nooneneeds（不觉得kerr文章有任何含金量，读完感觉很，啥也没说，还一大堆废话John文章目的：reviewstheEVAsysteminthelightofthisFirst,itoutlinestherationalefortheuseofresidual ein‘value-basedmanagement’,highlightingthepotential ingsofresidual easasingle-periodperformanceindicator.Second,itconsiderstheadjustmentstoGAAP-basedaccountingadvocatedbySternStewartinordertoproduceamoreeconomicallymeaningfulversionofresidual e(EVA)whichmightserveasaneffectiveindicatorofsingle-periodperformance.Third,itexaminestheSternStewartapproachtothesettingofEVAbenarks.Finally,itreviewsthelogicbehindtheuseofthe‘bonusbank‘toseparatetheawardofEVA-basedbonusesfromthepaymentofsuch easatoolforvalue-basedmanagementcritical了，highlycriticalofthewayinwhichdifferentfinancialmeasuresarecommonlyusedfordifferentfinancialmanagementpurposes)Thismayresultininvestmentandoperatingdecisionsbeingtakenondifferentgrounds,withneitherbeingeffectivelylinkedtotherewardsystemsofthebusiness.Theyviewmoderndevelopmentssuchastheincreaseduseofexecutivestockoptionsandleveragedbuyoutsasusefuldevicesforturningmanagersintoentrepreneurs.However,theyrecognizethattherearelimitedpossibilitiesfordirectlymotivatingdivisionalmanagerswithstockoptions.Thisalonemayexinthe useoftraditionalaccountingmeasures.Adaptingaccounting-basedmeasuresofperformancesuchthattheyaresystematicallyrelatedtoeconomicvalue.Wereviewbelowhowresidual ecreatessuchalink,beforeconsideringtherationaleforEVA：1,Ithaslongbeenrecognizedthateconomicvalueultimaydependsonfuturecashflows( P,istheaccountingprofitforperiodt,C,isthecashpaidto(netofcontributionsby)ownersforperiodtandA,istheaccountingbookvalueofnetassetsattimet.Thisdefinitionissufficientlygeneralto passboththeproprietaryconceptofprofit,whereprofitisviewedfromtheequityshareholders’,andtheentityconceptofprofit（各种赞扬啊）最终得到Limitationsoflimitmanagerialopportunitiestoengageininter-periodallocationofEVA,SternStewartadvocatessomeadjustmentswhichhavetheeffectoftakingaccountingbacktowards‘cashShareholdersareprotectedbylimitedliability;soifallequityvalueisdestroyed,theexposurepassestothecreditors。Whenmanagersknewthattherewerenolimitstothebonustobepaidonthestrengthofasingleperiod’sresults,theywouldhavestrongincentivestoengageinbehaviouraimedatacceleratingtherecognitionof Anadditionalproblemarisesasaresultoftheleveragingeffectofthecapitalcharge.BecauseEVAisthedifferencebetweenprofitandacapitalcharge,expectedEVAwillbesubstantiallylowerthanexpectedprofit.LittleindependentresearchhasbeencarriedoutintothepracticalconsequencesofusingEVAasthebasisforrewardingmanagers.whenthedivisionisamaturebusinesssuchthattheparentwantsto‘harvest’pastinvestmentsanddiscouragenewinvestment,performancemightbebettermeasuredintermsofcashflowgenerationratherthanintermsofEVA.最后作者亮态度了：EVAismerelyaspecialcaseofameasurethathasbeenaroundforaverylongtime.尚未成功，Theirideasonhowbesttoadjustanduseaccountingnumberstoservespecificmanagementendsaresufficientlythoughtfulandarrestingtowarrantbeingincludedamongstthemoresignificantcontributionsofrecentyearstomanagementaccounting.EVA好的方法.Malmi两个：ValueBasedManagement(VBM),andEconomicValueAdded由是例证说明bug：onlysixFinnish-basedorganisationsfromfivedifferentindustries,weillustratethediversityofactualuseofVBM.一个基本点：OurresultsindicatethatforsomeorganisationsVBMismerelyrhetoric,whileforothersitseemstohaveanimpactonbothdecisionmakingandcontrolsystem,takingvariousformsfromonefirmtoanother.ThismultitudeofdifferentwaysinwhichVBMisactuallyusedinpracticeraisessomeproblemsregardingthestudyofVBManditsbenefits.Inparticular,theadoptionofEVA,asmeasuredwithEVAbasedbonuses,isseriouslychallenged.六个核桃，NO，六个步骤 normative doesnotaddmuchtothelasttwostepsintheVBMnormative lituresuggeststhatVBMmeanstheuseofcertaincontrolprinciples,whichareassumedtohaveanimpactondecisionmaking.Ontheotherhand,theVBMliturealsosuggeststhatcertainheuristicsshouldbeusedinmakingdecisionsatalllevelsofanorganisation.Therefore,tostudytheactualuseofVBMinpractice,itisnotenoughtostudyonlytheelementsofthemanagementcontrolsystemEVAwascalculatedatagroupanddivisionallevel,butnotatthelevelofbusinessunits.Inthesecompanies,theadoptionofVBMhadnoimpactonmeasurementsatthebusinessunitorlowerlevels.InadditiontoEVA,returnoninvestment,netsales,netprofit,cashflowandgearingwereamongtheindicatorsfollowedbyVBMadopters.Inotherwords,theadoptionofEVAdoesnotseemtoleadtoasinglemeasureofsuccessortheabandonmentofothermeasures.OurempiricalevidencesuggeststhattheuseofVBMdoesnotleadtomanagementcontrolmechanisms,intheirpurestform,assuggestedbythenormativeliture.evidenceshowstheweaknessesofdistinguishingVBMcompaniesfromothercompaniessolelyonthebasisofeitherannualreportsorinformationindicatingVBMuseinformingcompensationns.Ontheotherhand,ourfindingssuggestthatVBMadoptionhashadaninfluenceondecisionmakingbothatthestrategicandoperationallevelsinatleastsomeorganisations.Therefore,itisreasonabletoarguethatVBMadoptionmaycontributetosomechangesinperformance.ThekeyelementsofVBM,itfromothermanagementapproaches,wouldthenbeaimtocreateshareholderidentifythevalueconnectperformancemeasurement,targetsettingandrewardstovaluecreationorvalueconnectdecisionmakingandactionnning,bothstrategicandoperational,tovaluecreationorvaluedrivers.（废话时间：5章 最后两篇文章，对比分析VBM和EVA，老师seminar的 Lecture8 Budgetsandcontrolfeed-forwardcontrolfeedbackbudgetsandcontrollingisacontinuousanddynamicOtleychangesinthebusinessandsocialenvironmentwhicharereflectedintheterminologyofcurrentmanagementideassuchasde-layering,right-sizing,businesssprocessre-engineering,out-sourcingandvaluechainysis.传统方法特点：traditionalmanagementcontrolfirst:shouldhavethespecificdisciplineforthestudyofcontrononthebehaviourialfalvour.Second:aviodingthespecificsofanyparticularindustry,studiesshouldfocusontheupperechelonsoflarge,hierarchical为什么不适用现在环境：Thechangeincontemporarybusinessinfluencethedesignandoperationofmanagementcontrolsystem:Uncertainty,organizationalsize,concentrationandalliances,declineofmanufacturing.需要原因Implicationsformanagementc