The development of performance measures is not a new concept in the disaster preparedness space. For over a decade, goals have been developed and tied to federal preparedness grant programs. However, these measures have been heavily criticized for their inability to truly measure preparedness. There is also growing frustration at the local level that these performance measures do not account for local readiness priorities or the outcome-driven value of emergency response activities. To define an appropriate theoretical framework for the development of performance measures, a review of the literature on existing planning and preparedness frameworks was conducted, with an iterative feedback process with a local health agency. This paper presents elements of that literature review that were most directly along with the conceptual framework that was used as a starting point for future iterations of a comprehensive performance measure development project.

Introduction: Despite studies highlighting the inaccuracies of self-assessment, practicing physicians continue to rely on self-perception to maintain clinical competence. Many approaches have been proposed to augment physician performance. In the realm of Quality Improvement (QI), Audit and Feedback (A&F) has a modest effect. Educators have proposed coaching interventions and academic constructs have invoked training for early-career clinicians. Very few of these are driven by the perceptions and the needs of the end-user - the physicians. We currently lack a model to understand physicians’ perceptions of their own practice data and an understanding of the factors which would enable practice change. In this study, we sought to develop a model for data feedback which may best help physicians change practice. Methods: In a previous study, we conducted a needs analysis of 105 physicians in the Hamilton-Niagara area in order to understand which data metrics were most valuable to physicians. Using the survey results, we designed an interview guide that was used as a qualitative study of physicians’ perspectives on A&F. By intentional sampling, we recruited 15 physicians amongst gender groups, types of practice (academic vs community) and durations of practice. We conducted this interview with all 15 participants which were then transcribed. We then performed thematic analysis and extraction of all interviews using a realist framework. These were then translated into broader themes and, by using a grounded theory framework, created a model to understand how physicians relate practice data to their own sense of self. Interviews were anonymized and no identifying data was shared as part of the interview. All interviewees consented to participation at the outset and could withdraw at any time. Results: Via stakeholder interviews from 15 key informants, we developed a model for the understanding of how a physician's sense of self and the nature of the data (quantity and quality) may be combined to understand the likelihood of practice change and the adoption of the change strategy. Using this model, it is possible to understand the conditions under which A&F would provide the greatest opportunity for practice change. Conclusion: Physician identity intersects with A&F data to shed insights on practice improvement. Understanding the core identity constructs of different physician groups may allow for increased uptake in A&F processes.

The deliberate distortion of the work accomplishments of local governments is a growing concern for China's leaders in the reform era. How do they tackle this problem and gather reliable data? This study argues that the CCP has developed bypassing strategies to remedy the deficiencies of the statistical system which is vulnerable to artificial data distortion. By employing these strategies, authorities requiring authentic information can directly access the raw data, thereby bypassing lower-level officials who have incentives to distort performance information in the level-by-level reporting process. This study shows that the adoption of bypassing strategies enhances the capacity of the party-state to gather local intelligence. Although the strategies are limited in their ability to ensure the quality of certain types of data, their use should improve the quality of key information on the performance of local governments in the long term.

Agricultural policymakers place increasing emphasis on developing efficiency measures for organic producers in order to evaluate regulatory strategies and evolving organic market conditions. We develop technical efficiency measures for U. S. organic farmers using a stochastic production frontier. Farm decisions about acquiring and managing organic soil materials from on-farm and local sources are incorporated into the technical efficiency measure. Productivity differences between newer entrants to organic farming and more experienced producers are estimated in order to isolate the impact of learning and management expertise on farm-level technical efficiency.

The implementation of China's reform era target-based cadre evaluation system has instigated various types of gaming behaviour on the part of local officials. How do these gaming strategies differ from each other? Why do local officials sacrifice the public interest for target fulfilment in some cases but not in others? This article argues that gaming is not monolithic and should not be treated as such. It develops a typology that distinguishes between pernicious and benign gaming, and looks into the symptoms and motives of pernicious gaming in particular. It finds that the distinct design of the measurement system – the combination of result-oriented targets imposed from above and high-powered incentives for target fulfilment – induces pernicious gaming. In addition, the system's implementation practically compels local officials to misrepresent their performance, even though they are aware of the negative impact of such behaviour on the public interest. This study shows that to understand the strategies, motivations and implications of gaming better, a more nuanced approach is needed.

Often performance of pension funds is assessed based on the development of the assets only, neglecting the simultaneous development of the liabilities. This especially is the case in Switzerland, one of the world's largest markets for corporate pension funds. We create a new liability benchmark for referencing the asset performance. Measuring the asset performance with respect to the liability benchmark yields the Asset-Liability-Result. We apply the model to (i) the Swiss pension fund market as a whole and (ii) an individual Swiss pension fund. With our new approach, we are able to show that the pension funds’ recovery from the recent financial crisis took much longer than the value increase of the asset portfolios suggests. We strongly advocate the use of a liability benchmark for analyzing the entire pension fund markets’ performance and specifically as operational tool for individual pension funds.

This paper argues that the notion of value has been overly simplified and narrowed to focus on economic returns. Stakeholder theory provides an appropriate lens for considering a more complex perspective of the value that stakeholders seek as well as new ways to measure it. We develop a four-factor perspective for defining value that includes, but extends beyond, the economic value stakeholders seek. To highlight its distinctiveness, we compare this perspective to three other popular performance perspectives. Recommendations are made regarding performance measurement for both academic researchers and practitioners. The stakeholder perspective on value offered in this paper draws attention to those factors that are most closely associated with building more value for stakeholders, and in so doing, allows academics to better measure it and enhances managerial ability to create it.

This article examines how Chinese reformers have used a set of “fatality indicators” to deal with the serious work safety situation in the past two decades. It argues that the system of fatality indicators is a prudent strategy to tackle the responsibility deficiencies in the previous work safety regulatory system and strengthen the central government's supervision over local safety management. The primary purpose of implementing the fatality indicators is to shift local officials' focus from a GDP-centred growth mode to a new mindset of achieving a balance between economic development and social stability in local governance. The article also indicates that the decline in work-related fatalities in recent years is evidence of the effectiveness of the fatality indicators. These achievements aside, however, the introduction of fatality indicators is closely associated with an increase in local officials' dishonest reporting of real death tolls and the fluctuation in very serious accidents.

This Presidential Address is a call to arms for the profession. It outlines many areas in which we could be major contributors if we are prepared to undertake the necessary research, discussion and seminar work. In covering the historical landscape of actuarial work, emphasis is placed on looking to the future in life assurance, pensions and investment. Education, public interest and marketing are all covered in the context of what we need to do and the need to get it done sooner rather than later. Our future, and that of the Faculty, is again opened up for debate to ensure that we remain objectively focussed.

In this paper we discuss methods of developing real estate indices, the availability of real estate data, the problems of using published real estate data and how real estate data can be used for stochastic investment modelling for actuarial purposes. In recent years there have been many developments in the collection, presentation and analysis of real estate data that have not found their way into the actuarial literature. We review those developments and suggest and develop ways in which raw real estate investment data can be used for actuarial purposes. We then review the Wilkie real estate stochastic investment model and use the research of real estate finance academics to inform a critique and development of that model. In developing the models, different data sets are used, including data from valuation-based and de-smoothed indices in order to find appropriate parameter estimates. The significance (or otherwise) of the parameter estimates is tested for each of the fitted models and the differences between the fitted models are examined. By reviewing research in the real estate finance field, making use of the latest research and developing original work, the main aim of this paper is to ensure that actuaries have the means to collect, understand and manipulate real estate data for performance measurement and investment modelling purposes.

Most businesses have assets financed by capital providers. The cost of capital is a measure of the returns required by those capital providers. Its main use is to set a target for the profits, which must be achieved on the firm's assets in order to satisfy equity and bond holders.

This paper describes the classical theory of the cost of capital, and then applies it to the special case of banking and insurance firms. We develop implications for product pricing, performance measurement and capital structure optimisation.

This paper considers the impact that the current trend towards fair valuation of assets and liabilities is likely to have on risk measurement and management practices within the financial services industry. The paper analyses the different sorts of risks faced by organisations such as asset managers, pension funds, banks and insurers, and seeks to identify how their approach to the measurement and management of these sorts of risks might change as fair valuation becomes more entrenched. It argues that what it describes as traditional ‘time series’ based risk measurement is likely to be progressively displaced over time by a greater emphasis on what the paper refers to as ‘derivative pricing’ (or ‘fair value’ or ‘market consistent’) based risk modelling. It comments on the trend towards liability driven investment. The paper focuses on ‘financial’ risks (market, credit, liquidity and, more generally, asset/liability risk) rather than ‘operational’ risks, whilst noting that the dividing line between the two can be open to interpretation. Insurance risk is seen as in some respects straddling both camps.