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Perceptions of performance in US financial regulatory programs

Perceptions of performance in US financial regulatory programs Purpose – The purpose of this paper is to analyze the accuracy of program performance measurement in US financial regulatory programs. Design/methodology/approach – This research uses the US Government's Program Assessment Rating Tool (PART) system of output and outcome data collection, performance data from financial regulatory programs were examined to determine: if PART data revealed any degradation in external financial conditions or internal regulatory performance prior to the Great Recession of 2008, and whether output performance influenced outcome performance. Findings – The results indicate that outcome measures did “capture” some deterioration in the performance of the financial industry before the Great Recession, but these measures were arguably not influenced by program outputs. This represents a potentially problematic use of performance measures in that programs used outcome measures which were not controlled by programmatic actions. Originality/value – This project adds to a growing body of literature on the challenges of program performance measurement in government. However, this analysis is unique in that it specifically examines the performance of the US Government's financial regulatory programs, as measured by PART, before the Great Recession of 2008. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Public Sector Management Emerald Publishing

Perceptions of performance in US financial regulatory programs

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Publisher
Emerald Publishing
Copyright
Copyright © 2012 Emerald Group Publishing Limited. All rights reserved.
ISSN
0951-3558
DOI
10.1108/09513551211260621
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to analyze the accuracy of program performance measurement in US financial regulatory programs. Design/methodology/approach – This research uses the US Government's Program Assessment Rating Tool (PART) system of output and outcome data collection, performance data from financial regulatory programs were examined to determine: if PART data revealed any degradation in external financial conditions or internal regulatory performance prior to the Great Recession of 2008, and whether output performance influenced outcome performance. Findings – The results indicate that outcome measures did “capture” some deterioration in the performance of the financial industry before the Great Recession, but these measures were arguably not influenced by program outputs. This represents a potentially problematic use of performance measures in that programs used outcome measures which were not controlled by programmatic actions. Originality/value – This project adds to a growing body of literature on the challenges of program performance measurement in government. However, this analysis is unique in that it specifically examines the performance of the US Government's financial regulatory programs, as measured by PART, before the Great Recession of 2008.

Journal

International Journal of Public Sector ManagementEmerald Publishing

Published: Aug 17, 2012

Keywords: Performance (public administration); Performance indicators; Performance measurement (quality); Budgeting; Accountability; Budgetary control; United States of America

References

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