This paper has two aims. The first aim is to explain the concepts of curriculum-based measurement (CBM) and oral reading fluency. CBM is considered reliable and valid with characteristics of both formative and summative assessments (Fuchs & Fuchs, 1999). Oral reading fluency is one of the most effective CBMs in reading instruction for LI elementary and special-education students Jenkins, Fuchs, van den Broek, Espin & Deno, 2003). The second aim is to report investigations, which were conducted on thirty-nine Japanese second-year senior high school students of English, concerning: (a) whether oral reading fluency could index the English reading comprehension for Japanese learners of English; and (b) whether oral reading speed could take the place of oral reading fluency in indexing their English reading comprehension. In the experiments, reading comprehension, oral reading fluency and three types of oral reading speeds of the participants were measured, and the correlations between them were computed. The three types of oral reading speeds were speed-focused, content-focused and comprehension-adjusted. The main results were: (a) there was a significant correlation between their reading comprehension and oral reading fluency (r=.482, p<.01); (b) there were significant correlations between their reading comprehension and three types of oral reading speeds (rs=.375-.479, p<.05), with the comprehension-adjusted one being the highest (r=.479, p<.01); and (c) there were significant correlations between their oral reading fluency and three types of oral reading speeds (rs=.690-.770, p<.01) Findings based on the results were: (a) oral reading fluency can be a rough indicator of learners' English reading comprehension; (b) oral reading speed, which is much more handily measured than oral reading fluency, can also be a rough indicator of their English reading comprehension; and (c) comprehension-adjusted oral reading speed can be a better indicator of their reading comprehension than the other types of oral reading speed. Implications for reading pedagogy were: (a) we should introduce the measurement of speed-focused oral reading speed into our reading pedagogy so that we may understand learners' decoding skills and deal with their deficiencies; and (b) we should also introduce the measurement of comprehension-adjusted oral reading speed into our reading pedagogy so that we may understand learners' comprehension skills as well as decoding skills and deal with their deficiencies.
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