Papers
Comparative Measurement of Investment Funds Performance with Analytical Network Process: A Case Study in Serbia
Author(s)Milena Jaksic
Faculty of Economics
University of Kragujevac
Serbia
Predrag Mimovic
Faculty of Economics
University of Kragujevac
Serbia
Violeta Todorovic
Faculty of Economics
University of Kragujevac
Serbia
Publication date: Apr, 2015
Journal: Proceedings of the 3rd International OFEL Conference on Corporate Governance, Management and Entrepreneurship
Abstract: The measurement of financial institutions performance is a pre-condition for a complete view of the financial system efficiency. Thus, the modern financial environment imposes the need for constant finding and defining of the new concepts and performance measurement models with the aim of raising the quality of both the finacial factor and the real sector of every market oriented economy. The crisis events on the financial markets, followed by the problems with which the financial institutions are faced with, due to, above all the decrease in securities, aks for the re-examination of the set models and management approaches in managing the financial action capital. The modern management has as its aim to develop the wide range of models which will enable the construction of the portfolios of securities which will in turn enable the achievement of stable income in the medium and long run. In connection with that, the paper will integrate the Balanced Scorecard model and the analytical network process in the case of chosen financial institutions in Serbia. The subject of the analysis will be the open investment funds of the assets value growth. The reasons why the authors chose thes non-deposit financial institutions are above all, their significance for the overall financial and real sector, as well as the weak domestic practice of managing the portfolio of these institutions which resulted in enormously high decrease in the last four years.
Keywords: ANP, Performance measurement