COMPARISON OF TRADITIONAL, VALUE-BASED AND ALTERNATIVE PERFORMANCE MEASURES

Öz

Performance measures are one of the tools of business and business stakeholders to decide on various business-related issues. The performance measures have changed to date due to various factors. In this context, performance criteria; traditional, value-based and alternative performance measures. In this classification, performance measures differ in terms of both the features they carry and the benefits they provide. In this study, firstly, general characteristics of performance measures are mentioned in line with the classification. Then, traditional, value-based and alternative performance measures are compared according to various criteria. This comparison is important in terms of showing the change in performance measures over time and the position of alternative performance measures, which have been increasingly used in recent years. The aim of the study is to contribute to their research by providing a general framework for the researchers.

Anahtar Kelimeler

• Performance measures,traditional,value-based and alternative performance measures

GELENEKSEL, DEĞER BAZLI VE ALTERNATİF PERFORMANS ÖLÇÜTLERİNİN KARŞILAŞTIRILMASI

Öz

İşletme ve paydaşlarının, işletme ile ilgili çeşitli konularda karar verme araçlarından biri performans ölçütleridir. Günümüze kadar çeşitli faktörler neticesinde değişim gösteren performans ölçütleri; geleneksel, değer bazlı ve alternatif performans ölçütleri olarak sınıflandırılabilmektedir. Bu sınıflandırmada performans ölçütleri, hem taşıdıkları özellikler hem de sağladıkları faydalar açısından farklılık göstermektedir. Çalışmada ilk olarak, yapılan sınıflandırma doğrultusunda performans ölçütlerinin genel özelliklerine değinilmektedir. Daha sonra ise geleneksel, değer bazlı ve alternatif performans ölçütleri muhtelif kriterler doğrultusunda karşılaştırılmaktadır. Bu karşılaştırma, performans ölçütlerinin zaman içindeki değişimini ve son yıllarda artan bir kullanıma sahip olan alternatif performans ölçütlerinin konumunu göstermesi açısından önemlidir. Çalışmanın bir amacı da, bu konularda araştırma yapacaklara genel bir çerçeve sunarak araştırmalarına katkıda bulunmaktır.

Anahtar Kelimeler

• Performans ölçütleri,geleneksel,değer bazlı ve alternatif performans ölçütleri

Kaynakça

1. Akal, Z. (2011). İşletmelerde Performans Ölçüm ve Denetimi: Çok Yönlü Performans Göstergeleri. Ankara: Milli Prodüktivite Merkezi Yayınları.
2. Artley, W., & Stroh, S. (2001). The Performance-Based Management Handbook Volume 2: Establishing an Integrated Performance Measurement System. California: The Performance-Based Management Special Interest Group (PBM SIG).
3. Ataman, B. (2004). İşletmelerde Yeni Performans Ölçümleme Sistemleri. Muhasebe ve Finansman Dergisi, 24, 73–82.
4. Bayyurt, N. (2007). İşletmelerde Performans Değerlendirmenin Önemi ve Performans Göstergeleri Arasındaki İlişkiler. Sosyal Siyaset Konferansları Dergisi, (53), 577–592.
5. Bititci, U., Garengo, P., Dörfler, V., & Nudurupati, S. (2012). Performance Measurement: Challenges for Tomorrow. International Journal of Management Reviews, 14(3), 305–327. https://doi.org/10.1111/j.1468-2370.2011.00318.x
6. Bititci, U. S. (2015). Managing Business Performance: The Science and the Art. Chichester: John Wiley & Sons Inc.
7. Bourne, M., Mills, J., Wilcox, M., Neely, A., & Platts, K. (2000). Designing, Implementing and Updating Performance Measurement Systems. International Journal of Operations & Production Management, 20(7), 754–771.
8. Brudan, A. (2010). Rediscovering Performance Management: Systems, Learning and Integration. Measuring Business Excellence, 14(1), 109–123. https://doi.org/10.1108/13683041011027490

9. Burgess, T. F., Ong, T. S., & Shaw, N. E. (2007). Traditional or Contemporary? The Prevalence of Performance Measurement System Types. International Journal of Productivity and Performance Management, 56(7), 583–602. https://doi.org/10.1108/17410400710823633
10. Carder, B., & Ragan, P. (2005). Measurement Matters: How Effective Assessment Drives Business and Safety Performance. Milwaukee: ASQ Quality Press.
11. Chebotareva, N. (2007). Non-GAAP Measures - Love Them or Hate Them? Tarihinde 16 Mart 2019, adresinden erişildi https://www.accountancydaily.co/non-gaap-measures-love-them-or-hate-them
12. Deloitte. (2019). Quarterly Financial Reporting Brief. Dublin.
13. Demartini, C. (2014). Performance Management Systems: Design, Diagnosis and Use. Heidelberg: Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-36684-0
14. Erasmus, P. (2008). Value Based Financial Performance Measures: An Evaluation of Relative and Incremental Information Content. Corporate Ownership & Control, 6(1), 66–77.
15. Flores, F. (2014). Re: Consultation Paper on Guidelines on Alternative Performance Measures. Paris.
16. Franco-Santos, M., Lucianetti, L., & Bourne, M. (2012). Contemporary Performance Measurement Systems: A Review of Their Consequences and a Framework for Research. Management Accounting Research, 23(2), 79–119. https://doi.org/10.1016/j.mar.2012.04.001
17. Ghalayini, A. M., & Noble, J. S. (1996). The Changing Basis of Performance Measurement. International Journal of Operations & Production Management, 16(8), 63–80. https://doi.org/10.1108/01443579610125787
18. Ghalayini, A. M., Noble, J. S., & Crowe, T. J. (1997). An Integrated Dynamic Performance Measurement System for Improving Manufacturing Competitiveness. International Journal of Production Economics, (48), 207–225.
19. Goshu, Y. Y., & Kitaw, D. (2017). Performance Measurement and Its Recent Challenge: A Literature Review. International Journal of Business Performance Management, 18(4), 381–402. https://doi.org/10.1504/IJBPM.2017.087103
20. Hogarth, P. (2017). PwC IFRS Talks - Episode 11: Alternative Performance Measures (Podcasts). PwC.
21. Holler, A. (2009). New Metrics for Value-Based Management: Enhancement of Performance Measurement and Empirical Evidence on Value-Relevance. Wiesbaden: Gabler.
22. Ittner, C. D., & Larcker, D. F. (2001). Assessing Empirical Research in Managerial Accounting: A Value-based Management Perspective. Journal of Accounting and Economics, 32, 349–410.
23. Jacobs, J. F. (2014). The Quest for Value Revisited. SSRN Electronic Journal, 1–34. https://doi.org/10.2139/ssrn.440100
24. Köseoğlu, M. A. (2005). Kamu İktsadi Teşebbüslerinde Performans Ölçümü. T.C. Başbakanlık.
25. Kuwaiti, M. E. (2004). Performance Measurement Process: Definition and Ownership. International Journal of Operations & Production Management, 24(1), 55–78. https://doi.org/10.1108/01443570410510997
26. Martin, J. D., & Petty, J. W. (2000). Value Based Management: The Corporate Response to the Shareholder Revolution. Boston: Harvard Business School Press.
27. Martin, R. (1997). Do We Practise Quality Principles in the Performance Measurement of Critical Success Factors? Total Quality Management, 8(6), 429–444. https://doi.org/10.1080/0954412979433
28. Melnyk, S. A., Bititci, U., Platts, K., Tobias, J., & Andersen, B. (2014). Is Performance Measurement and Management Fit for the Future? Management Accounting Research, 25(2), 173–186. https://doi.org/10.1016/j.mar.2013.07.007
29. Miller, M. C., & Loftus, J. A. (2000). Measurement Entering the 21st Century: A Clear or Blocked Road Ahead? Australian Accounting Review, 11(2), 4–18.
30. Neely, A., Mills, J., Platts, K., Gregory, M., & Richards, H. (1996). Performance Measurement System Design: Should Process based Approaches be Adopted? International Journal of Production Economics, (46–47), 423–431.
31. Oxelheim, L., & Wihlborg, C. (2008). Corporate Decision-Making with Macroeconomic Uncertainty: Performance and Risk Management. New York: Oxford University Press.
32. PwC. (2014). Corporate Performance: What do Investors Want to Know? (Powerful Stories through Integrated Reporting).
33. Richard, P. J., Devinney, T. M., Yip, G. S., & Johnson, G. (2009). Measuring Organizational Performance: Towards Methodological Best Practice. Journal of Management, 35(3), 718–804. https://doi.org/10.1177/0149206308330560
34. Standard Setting Department (HKI of CPA). (2017). Non-IFRS Performance Measures: The Good, Bad and Ugly. Hong Kong Institute of Certified Public Accountants (Technical Articles), ss. 1–2.
35. Steinberg, R. M. (2011). Governance, Risk Management, and Compliance: It Can’t Happen to Us - Avoiding Corporate Disaster While Driving Success. New Jersey: John Wiley & Sons Inc.
36. Tangen, S. (2004). Performance Measurement: From Philosophy to Practice. International Journal of Productivity and Performance Management, 53(8), 726–737. https://doi.org/10.1108/17410400410569134
37. Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2018). Strategic Management and Business Policy. Harlow: Pearson Education Ltd.
38. Whiting, E. (1986). A Guide to Business Performance Measurements. London: Palgrave Macmillan UK. https://doi.org/10.1007/978-1-349-07472-3
39. Yadav, N., Sushil, N. A., & Sagar, M. (2014). Revisiting Performance Measurement and Management: Deriving Linkages with Strategic Management Theories. International Journal of Business Performance Management, 15(2), 87. https://doi.org/10.1504/IJBPM.2014.060146
40. Zairi, M. (1994). Measuring Performance for Business Results. Dordrecht: Springer Netherlands. https://doi.org/10.1007/978-94-011-1302-1