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Article: Economic value added: some empirical evidence

TitleEconomic value added: some empirical evidence
Authors
Issue Date1998
PublisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/mf.htm
Citation
Managerial Finance, 1998, v. 24 n. 11, p. 60-71 How to Cite?
AbstractLike all corporate buzzwords, 'economic value added' combines some truth with some chaff. This article presents recent empirical evidence that helps to sort them out. Long known as 'residual income' economic value added has been marketed successfully by consultancies in recent years as a management incentive tool. Stern Stewart & Co. has been particularly aggressive in trademarking their version of EVA and by making claims regarding its performance. Independent examination suggests that some of these claims are overstated. While evidence confirms that managers respond to EVA incentives, there is not evidence thus far to support claims that EVA is more closely associated with equity returns or firm values than is net income. Possible reasons are discussed.
Persistent Identifierhttp://hdl.handle.net/10722/152554
ISSN
SSRN

 

DC FieldValueLanguage
dc.contributor.authorBiddle, GC-
dc.contributor.authorBowen, RM-
dc.contributor.authorWallace, JS-
dc.date.accessioned2012-07-09T08:10:56Z-
dc.date.available2012-07-09T08:10:56Z-
dc.date.issued1998-
dc.identifier.citationManagerial Finance, 1998, v. 24 n. 11, p. 60-71-
dc.identifier.issn0307-4358-
dc.identifier.urihttp://hdl.handle.net/10722/152554-
dc.description.abstractLike all corporate buzzwords, 'economic value added' combines some truth with some chaff. This article presents recent empirical evidence that helps to sort them out. Long known as 'residual income' economic value added has been marketed successfully by consultancies in recent years as a management incentive tool. Stern Stewart & Co. has been particularly aggressive in trademarking their version of EVA and by making claims regarding its performance. Independent examination suggests that some of these claims are overstated. While evidence confirms that managers respond to EVA incentives, there is not evidence thus far to support claims that EVA is more closely associated with equity returns or firm values than is net income. Possible reasons are discussed.-
dc.languageeng-
dc.publisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/mf.htm-
dc.relation.ispartofManagerial Finance-
dc.titleEconomic value added: some empirical evidenceen_US
dc.typeArticleen_US
dc.identifier.emailBiddle, GC: biddle@hkucc.hku.hk-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1108/03074359810765714-
dc.identifier.volume24-
dc.identifier.issue11-
dc.identifier.spage60-
dc.identifier.epage71-
dc.publisher.placeUnited Kingdom-
dc.identifier.ssrn1864368-

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