Scientific and Financial Performance Measure : A Simultaneous Model to Evaluate Scientific Activities

Abstract

An alternative model to measure simultaneously scientific and financial performances of scientific activities is proposed. This mathematical model focuses only on the final scientific outcomes in each fiscal year to gurantee the objectivity. The model is suited for the purpose of immediate and quantitative evaluation needed by policy makers to make decision in the subsequent fiscal year. The model can be applied to any branches of science, while it is also adjustable to varying macro-economic indicators. This enables the policy makers to evaluate equally scientific activities in various fields of science. It is argued that implementing the model could realize a fair, transparent and objective reward and punishment system in any scientific activities in order to improve both individual and institutional performances. The model also enables an automatic evaluation embedded in any scientific databases either in the local system or over the net.