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Open Access
Article
Publication date: 7 June 2021

Jan Frederick Hausner and Gary van Vuuren

Using a portfolio comprising liquid global stocks and bonds, this study aims to limit absolute risk to that of a standardised benchmark and determine whether this has a…

1243

Abstract

Purpose

Using a portfolio comprising liquid global stocks and bonds, this study aims to limit absolute risk to that of a standardised benchmark and determine whether this has a significant impact on expected return in both high volatility period (HV) and low volatility period (LV).

Design/methodology/approach

Using a traditional benchmark comprising 40% equity and 60% bonds, a constant tracking error (TE) frontier was constructed and implemented. Portfolio performance for different TE constraints and different economic periods (expansion and contraction) was explored.

Findings

Results indicate that during HV, replicating benchmark portfolio risk produces portfolios that outperform both the maximum return (MR) portfolio and the benchmark. MR portfolios outperform those with the same risk as that of the benchmark in LV. The MR portfolio weights assets to obtain the highest return on the TE frontier. During HV, the benchmark replicated risk portfolio obtained a higher absolute risk value than that of the MR portfolio because of an inefficient benchmark. In HV, the benchmark replicated risk portfolio favoured intermediate maturity treasury bills.

Originality/value

There is a dearth of literature exploring the performance of active portfolios subject to TE constraints. This work addresses this gap and demonstrates, for the first time, the relative portfolio performance of several standard portfolio choices on the frontier.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 51
Type: Research Article
ISSN: 2077-1886

Keywords

Open Access
Article
Publication date: 19 May 2020

Robin Mann, Dotun Adebanjo, Ahmed Abbas, Zeyad Mohammad El Kahlout, Ahmad Abdullah Al Nuseirat and Hazza Khalfan Al Neaimi

This paper aims to investigate the mechanisms for managing coordinated benchmarking projects and the outcomes achieved from such coordination. While there have been many…

2027

Abstract

Purpose

This paper aims to investigate the mechanisms for managing coordinated benchmarking projects and the outcomes achieved from such coordination. While there have been many independent benchmarking studies comparing the practices and performance of public sector organisations, there has been little research on initiatives that involve coordinating multiple benchmarking projects within public sector organisations or report on the practices implemented and results from benchmarking projects. This research will be of interest to centralised authorities wishing to encourage and assist multiple organisations in undertaking benchmarking projects.

Design/methodology/approach

The study adopts a case study methodology. Data were collected on the coordinating mechanisms and the experiences of the individual organisations over a one-year period.

Findings

The findings show successful results (financial and non-financial) across all 13 benchmarking projects, thus indicating the success of a coordinated approach to managing multiple projects. The study concluded by recommending a six-stage process for coordinating multiple benchmarking projects.

Originality/value

This research gives new insights into the application and benefits from benchmarking because of the open access the research team had to the “Dubai We Learn” initiative. To the authors’ knowledge the research was unique in being able to report accurately on the outcome of 13 benchmarking projects with all projects using the TRADE benchmarking methodology.

Details

International Journal of Excellence in Government, vol. 2 no. 1
Type: Research Article
ISSN: 2516-4384

Keywords

Content available
Article
Publication date: 1 December 2001

Ronald E. McGaughey

90

Abstract

Details

Benchmarking: An International Journal, vol. 8 no. 5
Type: Research Article
ISSN: 1463-5771

Content available
Article
Publication date: 11 August 2020

Nur Hazwani Karim, Noorul Shaiful Fitri Abdul Rahman, Rudiah Md Hanafiah, Saharuddin Abdul Hamid, Alisha Ismail, Ab Saman Abd Kader and Mohd Shaladdin Muda

The literature on warehouse performance assessments is mainly focussed on the efficiency and effectiveness of an action or activity due to customer demand and tailored fulfilment…

6180

Abstract

Purpose

The literature on warehouse performance assessments is mainly focussed on the efficiency and effectiveness of an action or activity due to customer demand and tailored fulfilment, with less attention being given to the performance measurement of each function of the warehouse and its overall productivity. Therefore, this study was aimed at revising the key warehouse performance metrics to a set of productivity measurement indicators that can be adopted internationally for benchmarking productivity performance.

Design/methodology/approach

A literature review and semi-structured survey questionnaire were used for this study. The importance of warehouse productivity performance was reviewed to revamp the measurement indicators. Through the use of a directed content analysis and descriptive analysis, an extensive study was carried out to analyze existing warehouse productivity indicators.

Findings

The findings of this study provide comprehensive references for practitioners and academicians for improving the classification of productivity measurements from existing key performance metrics for warehousing. Also, this paper highlights the warehouse resources related to the respective warehouse operation activities.

Research limitations/implications

The study was limited to productivity performance indicators adapted from Staudt et al. (2015). Furthermore, the samples for this study comprised Malaysian academicians and practitioners in the related field. The findings can be adapted on a global scale as this study implemented general warehouse operation processes.

Originality/value

Consequently, the contributions of this study are that it provides relevant benchmarks for key productivity performance indicators in the warehousing sector that has worldwide applicability and the developed model provides a conceptual platform from which further theoretical and empirical developments can be carried out.

Details

Maritime Business Review, vol. 6 no. 1
Type: Research Article
ISSN: 2397-3757

Keywords

Content available
Article
Publication date: 1 September 2006

Ronald E. McGaughey

74

Abstract

Details

Benchmarking: An International Journal, vol. 13 no. 5
Type: Research Article
ISSN: 1463-5771

Content available
Article
Publication date: 1 October 2004

A. Gunasekaran

743

Abstract

Details

Benchmarking: An International Journal, vol. 11 no. 5
Type: Research Article
ISSN: 1463-5771

Open Access
Article
Publication date: 28 December 2020

Ahmed Tahiri Jouti

This paper aims to understand the issue of interest rate benchmarking in Islamic financial institutions (IFIs) from a macro-economic perspective and assessing the relevance of…

2625

Abstract

Purpose

This paper aims to understand the issue of interest rate benchmarking in Islamic financial institutions (IFIs) from a macro-economic perspective and assessing the relevance of creating a Sharīʿah-compliant profit rate benchmark to solve this issue. This paper also aims at suggesting an Islamic alternative that will handle both the negative economic impact on IFIs as well as on their financial performance.

Design/methodology/approach

The paper is based on literature review of conventional finance and Islamic finance theories to construct a theoretical model to assess the impact of interest rate benchmarking on the ability of IFIs to achieve the objectives of the Islamic economy.

Findings

The macro-economic perspective concludes that conceiving a profit rate benchmark for the Islamic finance industry is not relevant to raising the Sharīʿah credibility of the industry. Indeed, several adjustments need to be introduced in terms of the business model.

Research limitations/implications

The recommendations of this paper require the involvement of financial authorities and governments for their implementation. Indeed, the adjustments require a macro-economic review.

Practical implications

The paper considers a profit rate benchmark irrelevant and inefficient. Instead, it suggests the necessary adjustments in terms of business model and economic approach for IFIs to achieve their objectives.

Social implications

The paper considers zakat implementation and the adjustment of IFIs as the real path to implement a fair wealth distribution in the society.

Originality/value

The creation of a profit rate benchmark has always been the only solution for the pricing issue in IFIs. This paper challenges this idea and tries to give a deeper understanding of the situation.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Content available
1336

Abstract

Details

Benchmarking: An International Journal, vol. 13 no. 1/2
Type: Research Article
ISSN: 1463-5771

Content available
Article
Publication date: 1 May 2001

Ronald E. McGaughey

55

Abstract

Details

Benchmarking: An International Journal, vol. 8 no. 2
Type: Research Article
ISSN: 1463-5771

Content available
Article
Publication date: 1 December 2001

Paul Foley

63

Abstract

Details

European Business Review, vol. 13 no. 6
Type: Research Article
ISSN: 0955-534X

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