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Philippine Mutual Funds Performance 2008-2019 View Digital Media
Paper Presentation in a Themed Session Revelino Garcia, Russ Gariando
This paper examines the effects of macroeconomic variables as interest rate, inflation rate, and exchange rate on the performance of mutual funds in the Philippines from 2008 to 2019 (data for 2020-2022 were not included due to their extreme volatility). OLS and polynomial regression were initially tested for goodness of fit. The OLS regression was better suited for the analysis as it has a lower standard deviation. The r-squared, beta and standard deviation were used to test the risk exposure of the funds. Augmented Dickey Fuller test statistic (ADF) was used to test the presence of a unit root. The standard deviations showed that the changes or volatility of the funds were not significant. For the investor, a quick adjustment in the mutual fund portfolio will provide a hedge against inflation rate. The t-tests of significance of the macroeconomic variables to the mutual funds were not significant, that is, their effects on the changes of the fund values were not significant except for some with DW > 2.209 which reflects a serious concern. The F-test significance of the derived regression equations was not significant which can be inferred that these are not valid tools to predict the values of the mutual based on macroeconomic variables as inflation rate, interest rate and inflation rate.
Organizational Evaluation Capacity Scale: Factor Structure and Scale Validation among Nongovernmental Organizations in Hong Kong View Digital Media
Paper Presentation in a Themed Session Steven Sek-yum Ngai
During a time of accountability, nongovernmental organizations (NGOs) need to enhance their organizational evaluation capacity to create high-quality program evaluations and demonstrate the effectiveness of their services to stakeholders. Nevertheless, there is a scarcity of easily accessible tools for this purpose. The objective of this research is to create and validate the Organizational Evaluation Capacity Scale (OECS), a self-reporting tool designed to assess the evaluation capacity of NGOs. The validation data included responses from 279 NGO practitioners who participated in the Jockey Club MEL Institute Project held in Hong Kong, China. To establish the latent factor structure of the OECS, exploratory factor analysis was employed. The validity of the OECS was then examined through confirmatory factor analysis and structural equation models. Results: The analysis yielded two factors, namely organizational evaluation readiness and organizational evaluation infrastructure, which accounted for a substantial portion of the total variance (72.967%). The confirmatory factor analysis confirmed this two-factor structure and indicated a favorable fit of the model (CFI = 0.915, RMSEA = 0.096, and SRMR = 0.064). All the items significantly reflected their respective sub-constructs. Furthermore, the results demonstrated satisfactory internal consistency, sub-group consistency (across subsamples categorized by gender, age, level of education, and job position), and concurrent validity of the OECS. Our findings provide support for the validity and reliability of the OECS as a tool for assessing the evaluation capacity of NGOs in Hong Kong.
Towards an Effective Legislation and Its Implementation: Practical Experience in Methodically Designing Collaboration in the Dutch Criminal Justice System
Paper Presentation in a Themed Session Martin Op 't Land, Ruben Peereboom, Wicher Krabbe, Debora Moolenaar, Sunil Choenni
Changes in a Criminal Justice System (CJS) are necessary to ensure that the CJS meets the needs of our contemporary society. Therefore, change missions are a recurring phenomenon. Digital transformation is such a change mission. To contribute to the success of this mission a focus is required on digital technologies that enable collaboration between people, is people-centric, by creating interoperability, integration, and open platforms for collaborative multi-users in order to co-create services and products. This focus requires a comprehensive view on a CJS, including the relationships between organizations involved, their discretionary powers and their responsibilities. The Service-oriented Approach for Governmental Ecosystems (SAGE) framework intends to help in obtaining and formalizing a comprehensive view on a CJS – supporting a meaningful collaboration between organizations in the CJS by revealing dependencies between organizations, responsibilities, risks and benefits. Applying SAGE in three real-life cases demonstrated promising results, such as testing a law on its evaluability, making goals and responsibilities more explicit, and how to practically align multi-party and multi-disciplinary expectations of management and professionals. Next to using SAGE in more and diverse cases of law implementation, it would be interesting to use it in earlier stages of drafting laws and regulations.
