Determinants of the Use of Value‐based Performance Measures for Managerial Performance Evaluation
研究了基于价值的绩效指标在管理绩效评估中的使用程度如何随企业对资本成本管理的需求和经理人的机会而变化，发现其重要性随资产密集使用需求、授权程度和单位间相互依赖性的降低而增加。
Abstract: As value‐based (VB) performance measures include firms’ cost of capital, they are considered more congruent than earnings measures. Prior studies, however, find that their use for managerial performance evaluation is less extensive than their presumed benefits would suggest. We examine how the importance of VB measures for evaluation varies with firms’ need and managers’ opportunity to manage capital costs, and find this to increase with a need for intensive asset use, delegated authority and reduced unit interdependencies. In addition, importance of intensive asset use simultaneously limits the delegation of authority, partially offsetting the increase in importance of VB measures.