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Employees, as internal stakeholders, not only play significant roles in a company’s operations but are also important users of a company’s financial information. However…
Employees, as internal stakeholders, not only play significant roles in a company’s operations but are also important users of a company’s financial information. However, prior accounting research to date has not explored whether employees incorporate a firm’s ability to meet earnings benchmarks in forming and revising their perceptions of firms. This study aims to focus on whether a firm’s ability to meet relevant earnings benchmarks impacts employees’ perceptions.
The authors use employees’ perception scores from the 100 Best Companies to Work for from 1998 to 2015. The authors conduct an empirical study to examine the impact of beating earnings benchmarks on the perceptions of employees by estimating regression analyses. The dependent variable is employee perceptions of the firm. The variables of interest are the earnings growth and the analyst forecast benchmarks. The authors control for earnings performance and other determinants of employees’ perceptions.
The authors find that beating the earnings benchmarks is relevant for employees but has different impacts on the employees’ perceptions of firms. Specifically, both level and change analyses suggest that a firm’s ability to beat the earnings growth benchmark affects employees’ perceptions. However, the authors find no associations between employees’ perceptions and the analyst forecast benchmarks.
The authors recognize the amount of variation among the two groups’ perceptions from the binary variable creates an inherent limitation that the authors examine the best firms in terms of employee perceptions compared to the second-best firms. Therefore, the authors create another measure, EMPLOYEE_PERCEPTION2, which equals one if the firm’s ranking is within the top quartile and zero if the firm’s ranking is within the bottom quartile. This new variable increases the variation of employees’ perceptions in the sample to address the inherent limitation by allowing us to compare the best firms to the worst firms in the sample.
The study highlights the importance of beating earnings benchmarks for employees as a broader group of stakeholders. The study contributes to accounting benchmarks literature by exploring a different group of earnings benchmarks users. The authors also contribute to psychology studies by providing empirical evidence on the previously untested, intuitive prediction that employees’ views depend on a firm’s ability to meet relevant earnings benchmarks.
States that the benefits of benchmarking are still largely unrecognized in the construction industry, despite the fact that the best practice concept has been indirectly…
States that the benefits of benchmarking are still largely unrecognized in the construction industry, despite the fact that the best practice concept has been indirectly investigated by both practitioners and researchers. Notes that some confusion seems to exist in construction circles as to what exactly benchmarking is and what it can achieve to improve productivity. Addresses the benchmarking concept and its application to construction and presents a three‐level internal, project and external framework for benchmarking current practice. The three levels are examined in detail, with an illustration of the need to adapt to improve construction productivity. Uses a generic definition of benchmarking throughout to ensure applicability to the different and many aspects of the construction process.
Argues that benchmarking is much more fundamental to strategic thinkingthan other tools relied upon thus far by senior managers in theirdecision‐making processes. Argues…
Argues that benchmarking is much more fundamental to strategic thinking than other tools relied upon thus far by senior managers in their decision‐making processes. Argues that for benchmarking to be effective it has to be closely linked to total quality management programmes in place. Strongly recommends that the focal point has to be on understanding process and behaviour (i.e. the means/enablers) before asking questions about results (i.e. the outcomes). Unless such a discipline is established, results can only be considered as absolutes and as such are not useful in telling us why differences take place. Benchmarking works inwards by helping organizations set desired goals and objectives and set about achieving them through continuous improvement activities. Proposes an implementation strategy for benchmarking based on 16 steps. In addition highlights some factors which are considered to be critical if the practice of benchmarking is to lead to any results. Provides some guidelines on ensuring that benchmarking remains a powerful strategic tool.
The pursuit of organisational excellence requires the efficient acquisition and use of knowledge, but this is potentially problematical from a legal context. A particular case in point is benchmarking, a required aspect of the EFQM Excellence Model but which is potentially contrary to intellectual property law and competition law. Knowledge acquired through the practice of benchmarking constitutes a diverse range of potentially and commercially exploitable information. The contribution to organisational excellence by the successful transfer of knowledge to companies is potentially major. A methodology through which companies can receive and subsequently exploit knowledge is through the practice of benchmarking. Benchmarking is an organisational improvement methodology centred on measuring current practices and comparing exogenous entities and subsequent implementation. A central feature of benchmarking as it is practised in the West at present is information flow that takes place between benchmarking partners through a variety of mechanisms including informal undertakings or collaborative efforts. This paper examines the interface between benchmarking and the law, specifically intellectual property and competition law.
Considers benchmarking to be an important decision making tool formarketing executives. Describes the value of benchmarking to marketersin improving decision making with…
Considers benchmarking to be an important decision making tool for marketing executives. Describes the value of benchmarking to marketers in improving decision making with respect to the “Four Ps”. Outlines steps for implementing such a program.
Benchmarking is the process of identifying, understanding, and adapting outstanding practices from within the organization or from other businesses to help improve…
Benchmarking is the process of identifying, understanding, and adapting outstanding practices from within the organization or from other businesses to help improve performance. The importance of benchmarking as an enabler of business excellence has necessitated an in‐depth investigation into the current state of benchmarking in South Africa. This research project highlighted the fact that the respondents realized the importance of benchmarking, but that various problems exist regarding the effective implementation of benchmarking. Based on the research findings, recommendations for achieving success are suggested.
Aims to raise awareness of the cost premiums involved in data collection. Examines benchmarking, its goals and appropriate support, and explains the process of benchmarking…
Aims to raise awareness of the cost premiums involved in data collection. Examines benchmarking, its goals and appropriate support, and explains the process of benchmarking. Highlights the importance of distinguishing between data and information.
The use of benchmarking is regarded by many as a panacea to modern day business problems. Irrespective of what business you are in, or the financial state of your…
The use of benchmarking is regarded by many as a panacea to modern day business problems. Irrespective of what business you are in, or the financial state of your business; proponents of the procedure insist benchmarking, if correctly applied, ensures organizations are able to gain the competitive edge necessary in today’s business world. But how can this technique be usefully exploited in the facilities management arena? The theory suggests that a structured approach to the benchmarking of facilities management will give organizations the competitive edge necessary to survive in the worldwide market. But what happens in practice? Is benchmarking used by major companies, and if so, is it used by facilities managers responsible for the company’s office buildings? If it is, is it successful and, more importantly, is it being correctly employed? This paper forms part of a two‐part report which seeks to answer these questions, taking account of the broad range of company sizes and activities who use office space, looking specifically at the UK situation.
Examines the drivers for the increased interest in benchmarking: global competition, quality awards and breakthrough improvements. Demonstrates how, why and whom to benchmark in order for the operation to be successful. Explodes some current benchmarking myths and mistakes and provides a list of five “must do” steps to success. States that, done correctly, benchmarking can indicate not only what improvements are needed, but also how to achieve them.
The purpose of this paper is to examine the current perceptions of company employees regarding the use and understanding of the terms “benchmark” as in performance…
The purpose of this paper is to examine the current perceptions of company employees regarding the use and understanding of the terms “benchmark” as in performance measurement and “benchmarking” as in measurement followed by identification of best practices for improvement.
A brief review of the literature from various industries is summarized on this issue, and then related to the research question. A qualitative research study is used to examine the perceptions of 42 participants who were primarily full‐time employees at companies in the New York metropolitan area pursuing a part‐time graduate business degree.
The hypothesis is supported by the literature and the research findings that there is indeed a misunderstanding between the commonly used terms relating to performance measurement benchmarks and true benchmarking where identification of process leaders is only the first step in a complete process that then identifies best practices to be adapted.
Limitations of the study are identified such as the size and characteristics of the study population, and suggestions are made for future research endeavors to verify the findings.
This paper reveals that a more precise terminological use of true benchmarking practices should be promoted and used by management leaders, educators and writers.
This is a valuable empirical research study that examines the important issue of misunderstandings and misstatements of mere performance benchmarks for comparative analysis and real benchmarking practices that identify best practices for adapting via continuous improvement.