Articlegreen2001

Economic Value‐Added: A Review of the Theoretical and Empirical Literature

128 citations0/0 files storedAsian Review of Accounting

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Financial Reporting and Valuation Research Accounting Theory and Financial Reporting Accounting and Organizational Management

Abstract

With increasing pressure on firms to deliver shareholder value, there has been a renewed emphasis on devising measures of corporate financial performance and incentive compensation plans that encourage managers to increase shareholder wealth. One professedly recent innovation in the field of internal and external performance measurement is a trade‐marked variant of residual income known as economic value‐added (EVA). This paper attempts to provide a synoptic survey of EVA's conceptual underpinnings and the comparatively few empirical analyses of value‐added performance measures. Special attention is given to the GAAP‐related accounting adjustments involved in EVA‐type calculations.

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References

1999An empirical assessment of the residual income valuation model 1999Use of R2 in accounting research: measuring changes in value relevance over the last four decades 1997Does EVA® beat earnings? Evidence on associations with stock returns and firm values 1992A Nonlinear Model of Security Price Responses to Unexpected Earnings 1995THE EVA® FINANCIAL MANAGEMENT SYSTEM 1983Divisional Performance: Measurement and Control 1997Intertemporal Cost Allocation and Managerial Investment Incentives: A Theory Explaining the Use of Economic Value Added as a Performance Measure 1996EVA® AND MARKET VALUE

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2017The Impact of Ownership Concentration on Firm Performance: Evidence from an Emerging Market 2017Liquidity Management and Performance of Deposit Money Banks in Nigeria (1986 – 2011): An Investigation 2009Modelling traditional accounting and modern value‐based performance measures to explain stock market returns in the Athens Stock Exchange (ASE)

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