What Do Practitioners Want

Abstract

Corporate Finance in the classroom is very different from the knowledge and skills that today's CFOs say they need. This article discusses classroom deficiencies in investment decisions, performance measurement, risk management, and capital structure. Performance measurement is very important for most CFOs. The paper provides evidence that earnings, the growth in eps, economic value added, and its growth are all uncorrelated with the total return to shareholders, then shows that the difference between expected and actual performance (Expectations-based Management), is significantly related to TRS. Furthermore, changes in long-term expectations are more important than are changes in short-term expectations.

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