European Financial and Accounting Journal, 2008 (vol. 3), issue 3
Introduction
Perspectives on Performance Management
Bohumil Král, Jaroslav Wagner
European Financial and Accounting Journal 2008, 3(3):4-5 | DOI: 10.18267/j.efaj.80 
Dear readers, Presenting a research paper at international conference and publishing it in the prestigious academic journal, both represent outstanding opportunity for researchers to bring out their research results and share them with other experts. It is really valuable tradition to publish sound and innovative conference papers in leading academic journals. Thanks to such tradition, progressive ideas can be disseminated all over the researchers' community and thus, the journals can initiate and support future research directions. Considerable synergy effect can be realized as the result of such mutual collaboration. Following these reasons, it is...
Articles
Requirements for Performance Management Systems: A Delineation of the Comprehensive Set of Criteria
Bartłomiej Nita
European Financial and Accounting Journal 2008, 3(3):6-22 | DOI: 10.18267/j.efaj.81
The paper deals with the problem of identification of the requirements that should be ful-filled by modern corporate performance management systems. In the first part of the article the essence of corporate performance management was depicted very briefly taking into ac-count the evolution of management accounting. Next, the overview of different ideas on the subject was presented and some opinions taken from literature were discussed. On this basis the original and comprehensive set of criteria treated as the requirements for performance management systems was proposed.
Measuring Performance - Conceptual Framework Questions
Jaroslav Wagner
European Financial and Accounting Journal 2008, 3(3):23-43 | DOI: 10.18267/j.efaj.82
This paper aims to formulate some principal questions which should be used as start-point for design and analysis of the performance measurement conceptual framework. The paper is based on literature study followed by analysis and generalization. It reflects the diversity of approaches to performance measurement in performance-oriented literature and it investigates their similarities and differences. The paper is divided into two sections. First section defines performance measurement as a causal chain of activities and it deals with the role of subjectivity in this chain. Second section concerns common features of various performance models for organizational...
Trends and Developments in the European Financial Sector
Eleftherios Thalassinos
European Financial and Accounting Journal 2008, 3(3):44-61 | DOI: 10.18267/j.efaj.83
The international tendency towards the deregulation of restrictions and administrative settlements has suppressed the barriers between national financial markets. The adoption of a common currency and the rapid spread of new technologies lead to intense competition, imposing the acceleration of reformations in the European financial sector. Financial institutions have consequently adjusted their strategies, in order to confront the challenges and exploit the opportunities of new developments. In this work, a review of strategies that have been applied by financial institutions in the most important European markets is presented, as well as the repercussions...
Measuring the Effectiveness and Innovative Capability: Case Lahti University Consortium
Sanna Pekkola, Juhani Ukko
European Financial and Accounting Journal 2008, 3(3):62-78 | DOI: 10.18267/j.efaj.84
The aim of this study is to create a measurement system for evaluating the effectiveness and innovative capability of the Lahti University Consortium. The Lahti University Consortium is a network university, which was established by four Finnish universities and offers services provided by departments of these universities. The empirical evidence of the study is based on interviews carried out in six organisations. The result of the study represents an evaluation matrix, which measures the effectiveness and innovative capability of the Lahti University Consortium. The evaluation matrix consists of four sectors and five dimensions. The study also reveals...
On the Necessity of Using Average Cost as a Base for Transfer Price
Tomáš Buus, Jaroslav Brada
European Financial and Accounting Journal 2008, 3(3):79-94 | DOI: 10.18267/j.efaj.85
Both older and recent literature on transfer pricing is not unified about the opinion whether optimal transfer price should be equal to marginal cost of supplying company and set by centralized decision (of vertically integrated multibusiness enterprise headquarters) or whether it should be set by negotiation or even set on level of market (arms-length) price. Those, who argue for setting transfer price by negotiation or at the market price base their arguments on market imperfections like information asymmetry, motivation of managers, et cetera. This paper deals inter alia with problem of methodology transfer pricing mathematical modelling. We prove...