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Comparative Public Administration (CPA) attained its greatest intellectual influence during the post World War II era, although it was utilized much earlier. In 1887, for example, Woodrow Wilson's article, considered the first articulation of public administration as a field of study, clearly emphasized the comparative approach as the foundation of developing administrative principles. Wilson argued for “putting away all prejudices against looking anywhere in the world but at home for suggestions” in the study of public administration. He emphasized that “nowhere else in the whole field of politics …, can we make use of the historical, comparative method more safely than in this province of administration” (Wilson, 1887).

This chapter compares the returns performance of the Islamic mutual funds (IMFs) with that of conventional mutual fund (CMF). It covers both pre- and post-ASEAN financial crisis and global financial crisis data for an overall sample of 128 IMFs and 350 CMFs. It also covers two market cycles from January 1995 to December 1998 and from January 2005 to December 2008.

The net raw returns of all expenses and market risk-adjusted return performance measurements are employed to examine the portfolios’ performance, and to capture the difference movement of the funds based on the particular market trend.

We observed that on average both portfolios outperform the market return. In general, average returns performance of IMFs is not better than the CMFs during bullish and bearish market trend periods. However, the empirical results based on time-series regression model reveal that the IMFs portfolio slightly outperform the conventional counterparts.

The study would benefit the investors and market players to consider IMFs in their portfolio selection, if in future such an expected event may occur.

The study provides insights to regulators and market players who plan to access investment plan in an emerging market, particularly in Malaysia.

Section 529 college savings plans are tax-favored investment vehicles, which saw tremendous growth after the Economic Growth and Tax Relief Reconciliation Act of 2001 expanded 529 plan benefits to include tax-free distributions for qualified higher education expenses. However, regulators, the press, and fund advisors criticized the Section 529 college savings plan industry for inadequate and nonuniform disclosures of investor information, such as historical returns, fees, taxes, and underlying investments. We investigate consumers’ investment choices after a disclosure regime change in 2003 and find that after enhanced disclosures became widely available, investors selected fewer plans offered exclusively through brokers, increasingly chose portfolios based on past investment performance, but remained unresponsive to state tax benefit disclosures. We also analyze the plans’ performance and find evidence that 529 investors are constrained to invest in portfolios with high, return-eroding fees. Nearly 20 percent of the portfolios have a statistically significant negative alpha, the measure of risk-adjusted excess return, while less than 1 percent have a statistically significant positive alpha.

Scanning both the academic and popular business literature of the last 40 years puzzles the alert reader. The variety of prescriptions of how to be successful (effective, performing, etc.) 1 Organizational performance, organizational success and organizational effectiveness will be used interchangeably throughout this paper.1 in business is hardly comprehensible: “Being close to the customer,” Total Quality Management, corporate social responsibility, shareholder value maximization, efficient consumer response, management reward systems or employee involvement programs are but a few of the slogans introduced as means to increase organizational effectiveness. Management scholars have made little effort to integrate the various performance-enhancing strategies or to assess them in an orderly manner.

This study classifies organizational strategies by the importance each strategy attaches to different constituencies in the firm’s environment. A number of researchers divide an organization’s environment into various constituency groups and argue that these groups constitute – as providers and recipients of resources – the basis for organizational survival and well-being. Some theoretical schools argue for the foremost importance of responsiveness to certain constituencies while stakeholder theory calls for a – situation-contingent – balance in these responsiveness levels. Given that maximum responsiveness levels to different groups may be limited by an organization’s resource endowment or even counterbalanced, the need exists for a concurrent assessment of these competing claims by jointly evaluating the effect of the respective behaviors towards constituencies on performance. Thus, this study investigates the competing merits of implementing alternative business philosophies (e.g. balanced versus focused responsiveness to constituencies). Such a concurrent assessment provides a “critical test” of multiple, opposing theories rather than testing the merits of one theory (Carlsmith, Ellsworth & Aronson, 1976).

In the high tolerance level applied for this study (be among the top 80% of the industry) only a handful of organizations managed to sustain such a balanced strategy over the whole observation period. Continuously monitoring stakeholder demands and crafting suitable responsiveness strategies must therefore be a focus of successful business strategies. While such behavior may not be a sufficient explanation for organizational success, it certainly is a necessary one.

This chapter is aimed at contributing to the question of how institutional reforms affect multi-level governance (MLG) capacities and thus the performance of public task fulfillment with a particular focus on the local level of government in England, France, and Germany.

Drawing on concepts of institutional evaluation, we analytically distinguish six dimensions of impact assessment: vertical coordination; horizontal coordination; efficiency/savings; effectiveness/quality; political accountability/democratic control; equity of service standards. Methodologically, we rely on document analysis and expert judgments that could be gleaned from case studies in the three countries and a comprehensive evaluation of the available secondary data in the respective national and local contexts.

Institutional reforms in the intergovernmental setting have exerted a significant influence on task fulfillment and the performance of service delivery. Irrespective of whether MLG practice corresponds to type I or type II, task devolution (decentralization/de-concentration) furthers the interlocal variation and makes the equity of service delivery shrink. There is a general tendency of improved horizontal/MLG type I coordination capacities, especially after political decentralization, less in the case of administrative decentralization. However, decentralization often entails considerable additional costs which sometimes overload local governments.

The distinction between multi-purpose territorial organization/MLG I and single-purpose functional organization/MLG II provides a suitable analytical frame for institutional evaluation and impact assessment of reforms in the intergovernmental setting. Furthermore, comparative research into the relationship between MLG and institutional reforms is needed to reveal the explanatory power of intervening factors, such as the local budgetary and staff situation, local policy preferences, and political interests in conjunction with the salience of the transferred tasks.

The findings provide evidence on the causal relationship between specific types of (vertical) institutional reforms, performance, and task-related characteristics. Policy-makers and government actors may use this information when drafting institutional reform programs and determining the allocation of public tasks in the intergovernmental setting.

In general, the euphoric expectations placed upon decentralization strategies in modern societies cannot straightforwardly be justified. Our findings show that any type of task transfer to lower levels of government exacerbates existing disparities or creates new ones. However, the integration of tasks within multi-functional, politically accountable local governments may help to improve MLG type I coordination in favor of local communities and territorially based societal actors, while the opposite may be said with regard to de-concentration and the strengthening of MLG type II coordination.

The chapter addresses a missing linkage in the existing MLG literature which has hitherto predominantly been focused on the political decision-making and on the implementation of reforms in the intergovernmental settings of European countries, whereas the impact of such reforms and of their consequences for MLG has remained largely ignored.

This chapter focuses on a new school-level instrument for international benchmarking and policy learning – the OECD’s PISA-based Test for Schools (“PISA for Schools”) – and how it helps to constitute new global spaces and relations of education policymaking and governance. Unlike main PISA, PISA for Schools assesses school performance in reading, mathematics, and science against the schooling systems measured by the main PISA test. Schools are thus positioned within a globally commensurate space of measurement and comparison, and are encouraged to engage with, and learn from, the policy expertise proffered by “high-performing” international schooling systems and the OECD itself. Drawing suggestively across literature and theorizing around new spatialities associated with globalization, the “becoming topological” of culture and “power-topologies,” and informed by document analysis and interviews with 33 policy actors from across the PISA for Schools policy cycle, the chapter examines how PISA for Schools helps the OECD to directly “reach into” local schooling spaces. This respatialized PISA for Schools, or “PISA to Schools”, provides the OECD with the means to influence how schooling is practised and conceived at the level of local policy implementation, while limiting mediation by national and/or subnational politics. Moreover, the school-to-system performance comparisons enabled by PISA for Schools arguably provide one of the first – if not the only – international data-driven catalysts of school-level reform. This furthers the relevance and diffusion of “lessons” from main PISA and the OECD to schools themselves, and helps extend the epistemic communities through which the OECD practices its global epistemological governance of education.

The German evidence-based model of educational governance is bureaucratically regulated, but teachers and schools are autonomous in their way of implementing requirements in schools. Accountability is ensured by regularly monitoring educational outcomes with reference to national educational standards, e.g. in the form of mandatory comparative performance tests. In this context, it is worth determining the process stages of research engagement with which the available data or evidence is associated and which purposes they can serve in teacher education and practice. Building on that, an overview is provided of the state of (mainly German) research on teachers' and school leaders' research engagement and influencing factors. This research field has flourished in the wake of the Empirical Shift in German education. By now the understanding has emerged that ultimately the depth of inferential processes is vital for sustainable development and this in turn is influenced by data, context and user characteristics. On the individual level, in particular, positive affective-motivational dispositions and research literacy are deemed important, whereas the feeling of being controlled has detrimental effects. On the school level, school culture and leadership are of impact, whereas a certain continuity of measures on the governance level proves meaningful for the engagement with data and evidence in educational practice. With regard to the German experience, it is concluded that more (funded) dialogue opportunities between different actors and professional groups in education are needed and that initial and further training should strive even more to impart a meta-reflective stance or enquiry habit of mind.