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1

Dhani Laksana, Rio, and Viviana Mayasari. "The Impact of Market Value Added to Shareholder Value: Evidence from Indonesia Firms." SHS Web of Conferences 86 (2020): 01029. http://dx.doi.org/10.1051/shsconf/20208601029.

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Presently financial experts developed the new concept as a value-based measure of performance in the creation of shareholder value. Market value for shareholders are among the most important goals of firms and owners The purpose of this study is to obtain empirical evidence of Economic Value Added (EVA) affects shareholder value by the method of Market Value Added (MVA) The research using non-financial companies listed on the Stock Exchange from 2013-2017. The result is support that the Economic Value Added (EVA) positive effect on shareholder value or in other words, the higher EVA is the hig
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Gounder, Chitra Gunshekhar, and M. Venkateshwarlu. "Shareholder Value Creation: An Empirical Analysis of Indian Banking Sector." Accounting and Finance Research 6, no. 1 (2017): 148. http://dx.doi.org/10.5430/afr.v6n1p148.

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This study investigates the importance of economic value added for the shareholders’ value maximization. Economic value added (EVA) is a value based performance measurement tool that helps to settle down the management decision regarding creation of shareholders value. Very few literatures are found regarding creation of shareholder values in banks. Sample of 40 Indian commercial listed Banks and panel data are used for the period of 2001 to 2015, the empirical findings for Public limited banks and overall Indian banks revealed that there is a positive and significant relationship between shar
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CA, Dr Shyamsundar Premanand Das. "Relationship Between Economic Value Added and Market Value Added: An Empirical Study of BSE S&P Sensex Companies for 2016-2017." RESEARCH REVIEW International Journal of Multidisciplinary 03, no. 06 (2018): 385–91. https://doi.org/10.5281/zenodo.1291588.

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Shareholders’ wealth maximization is regarded to be the prime goal of organizations. MVA is generally believed to be representative of shareholder value creation. It is perceived by managers of corporations that MVA can be maximized by maximizing EVA. EVA is endogenous to the organization whereas MVA is exogenous to the organization. In this study EVA has been treated as independent variable and MVA as dependent variable. Through Correlation and regression analysis the relationship between EVA and MVA has been studied. The outcome of the analysis indicates that there is no significant re
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Kumaran, Sunitha. "Shareholder Value Index for Saudi Banks." International Journal of Financial Research 8, no. 4 (2017): 196. http://dx.doi.org/10.5430/ijfr.v8n4p196.

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This paper aims to examine the shareholder value efficiency and build a Shareholder Value Index for Saudi banks between 2010 and 2014. Shareholder value efficiency is measured using value based performance metrics and binary logistic regression model was adopted to develop the Shareholder Value Index for Saudi banks. The Shareholder Value Index developed provides the probability of a bank’s competence to create/erode shareholders' wealth. The study finds that Economic Value Added (EVA) is the value-based performance metric that comes closer than any other to capture the true Economic Profit an
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Kaczmarek, Jarosław. "Effectiveness of Company Value Creation Based on Excess Market Value-Added Assessment." Sustainability 16, no. 9 (2024): 3711. http://dx.doi.org/10.3390/su16093711.

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This article aims to assess the usefulness of excess market value added to equity as an external measure of company value creation from the perspective of meeting shareholder expectations. This measure compares the expected value as an increase in stock exchange capitalisation in relation to return on equity, equivalent to its cost, decreased by this capital, in relation to the actually achieved level of capitalisation. This paper investigates relations with other external and internal measures. This research is based on measuring value creation in WIG30 Warsaw Stock Exchange companies in 2017
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Flesch, A. "Shareholder value creation using asset yield swap contracts." Acta Oeconomica 59, no. 3 (2009): 261–88. http://dx.doi.org/10.1556/aoecon.59.2009.3.1.

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In this paper, I investigate the shareholder value creation potential of a particular combination of corporate risk and capital structure strategies for a non-financial company. I examine the size of shareholder added value when the company increases its financial leverage while keeping its credit rating constant by hedging its asset yield volatility. Ross (1996) shows that by reducing the asset yield volatility of the company, its debt capacity can permanently be increased, which can create 10–15% additional value for shareholders. With the help of my model, I develop an alternative approach
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P. Maculuve, Dinis, and Adefemi A. Obalade. "Predictive power of economic-based performance indicators on shareholder value: Evidence from South African listed firms." Investment Management and Financial Innovations 20, no. 3 (2023): 299–310. http://dx.doi.org/10.21511/imfi.20(3).2023.25.

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Financial statements are often number intensive, and determining the importance and relevance of these numbers from the perspective of investors and equity holders is paramount. However, empirical studies concerning the correlation between several accounting and economic-based indicators with shareholder returns have yielded contradictory results. Additionally, considering the relatively limited studies on economic-based indicators such as refined economic value-added and economic value-added momentum, this study evaluated the predictive power of refined economic value added, economic value-ad
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Al-Awawdeh, Hanan Ali, and Sa’ad Abdul Kareem Al-Sakini. "The Impact of Economic Value Added, Market Value Added and Traditional Accounting Measures on Shareholders’ Value: Evidence from Jordanian Commercial Banks." International Journal of Economics and Finance 10, no. 10 (2018): 40. http://dx.doi.org/10.5539/ijef.v10n10p40.

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The purpose of this is study is to test the impact of economic value added, market value added and traditional accounting measures on the shareholders’ value in the Jordanian commercial banks, based on a sample of 13 banks during the period 2010-2016.
 
 The study used the shareholders’ value as a dependent variable, while five independent variables were used, including Economic Value Added (EVA), Market value added (MVA), and three traditional accounting measures, namely; the rate of return on assets (ROA), rate of return on equity (ROE), and the Earning per shar
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9

Dr. Maheswar Sethi, Mr. Sakti Ranjan Dash, Dr Chandrika Prasad Das, Dr Suman Bindu,. "Effect of Capital Structure on Shareholder Value: Evidence from Panel ARDL Approach." European Economic Letters (EEL) 13, no. 5 (2023): 1570–91. http://dx.doi.org/10.52783/eel.v13i5.940.

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This study examines the effect of capital structure on the shareholders’ value in Indian pharmaceutical industry collecting data over a period from 2001 to 2020. Further, the study also investigates the long-run and short-run relationship between capital structure and shareholder value. This study employs pooled, fixed, random effect regression models and panel autoregressive distributed lag analysis. The shareholder value of Indian firms is measured by earnings per share (EPS) and market value added (MVA) while the debt-equity ratio, interest coverage ratio, and total liabilities to total ass
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Venugopal, Merugu, Bhanu Prakash Sharma G., and Ravindar Reddy M. "Impact of Capital Structure on Shareholder Value in Indian Pharmaceutical Industry: An Empirical Approach Through Created Shareholder Value." Global Business Review 19, no. 5 (2018): 1290–302. http://dx.doi.org/10.1177/0972150918788741.

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Enhancing shareholder value is one of the primary goals along with the profitability in the competitive world. Top-level management is striving for creating the higher shareholder value by making efficient decisions. Shareholder value as the key objective of the firm and measures such as economic value added, market value added, shareholder value added and created shareholder value (CSV) have gained popularity in measuring the shareholder wealth creation. Among various financing decisions, capital structure decision plays a vital role, that is, mix of debt and equity. Considering the optimal c
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11

Hall, John Henry. "Industry-specific determinants of shareholder value creation." Studies in Economics and Finance 33, no. 2 (2016): 190–208. http://dx.doi.org/10.1108/sef-08-2014-0155.

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Purpose Prior studies on determinants of shareholder value creation have reported conflicting and sometimes confusing results. In this study, to obtain more refined and industry-specific results regarding variables determining shareholder value creation, an analysis was performed focusing on different categories of firms or industries. Design/methodology/approach Two dependent and 11 independent variables were applied to five different industries to obtain the best set of significant value drivers of shareholder value creation for a particular industry. Findings Market value added (MVA) is a b
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Gong, James Jianxin. "Examining Shareholder Value Creation over CEO Tenure: A New Approach to Testing Effectiveness of Executive Compensation." Journal of Management Accounting Research 23, no. 1 (2011): 1–28. http://dx.doi.org/10.2308/jmar-10105.

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ABSTRACT This paper examines the relationship between CEO compensation and shareholder value added over CEO tenure. The research design exploits two fundamental attributes of CEO compensation and shareholder value added: (1) both CEO compensation and shareholder value added aggregate naturally over CEO tenure, and (2) extending the time interval over which the two variables are measured is likely to result in a better match between CEO compensation and shareholder value created by the CEO. I measure CEO compensation with nominal value of CEO pay, ex post realized pay, and ex ante pay-for-perfo
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Thi Thuy Linh, Tran. "The impact of economic value added (EVA) and return on assets on created shareholder value of Vietnamese firms." Science & Technology Development Journal - Economics - Law and Management 3, no. 4 (2020): 402–17. http://dx.doi.org/10.32508/stdjelm.v3i4.583.

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The financial performance of an enterprise affects the valuation of assets to its shareholders. Maximizing the value of assets for shareholders is an important goal of corporate financial management, so shareholders always expect share value increases to achieve optimal investment efficiency. The objective of the study is to analyze the impact of Economic Value Added (EVA) and Return on Assets (ROA) on Created Shareholders Value (CSV) in Vietnamese listed companies during 2011-2016. Whether EVA measure better than the traditional performance measure like ROA on CSV? The CSV indicator is measur
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14

Banerjee, Ashok. "Linkage between Economic Value Added and Market Value: An Analysis." Vikalpa: The Journal for Decision Makers 25, no. 3 (2000): 23–36. http://dx.doi.org/10.1177/0256090920000304.

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Maximizing shareholder value has become the new corporate paradigm. Corporations in the US have started disclosing EVA information from the beginning of 90s as a measure of corporate performance. It is believed that market value of a firm (hence shareholder wealth) would increase with the increase in EVA. Various studies done in the US also confirm this belief. EVA (a term coined and registered by Stern Stewart & Co. New York) is a residual income that subtracts the cost of capital from the operating profits generated by a business. The present study makes an at tempt to find the relevance
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15

Shah, Reeta, Arunima Haldar, and S. V. D. Nageswara Rao. "Economic value added: A financial flexibility tool." Corporate Ownership and Control 12, no. 1 (2014): 703–8. http://dx.doi.org/10.22495/cocv12i1c8p2.

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With increased emphasis on shareholder value addition, there has been an ongoing debate on choosing the right measure of corporate financial performance. There is need for a single measure of financial performance that not only measures corporate financial performance but also works as a financial flexibility tool. The financial performance measure employed by the firm measures the value generated by the firm. This necessitates the firms to choose the right performance tool which can reflect the accurate value added by the firm. We study the role and implications of Economic Value Added as a f
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Toušek, Zdeněk, Jana Hinke, Barbora Malinská, and Martin Prokop. "Shareholder Value Generation within the Agro-Food Financial Supply Chain." Agris on-line Papers in Economics and Informatics 14, no. 3 (2022): 125–35. http://dx.doi.org/10.7160/aol.2022.140310.

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The article aims to define the Czech Agro-Food supply chain and develop financial metrics to quantify the economic value added generated within the supply chain. The study is based on a sample of complete financial statements from 2011 to 2018 from the agro-food organisations. The authors prove that the retail sale sector generates high shareholder value. Contrary to that, the wholesale sector´s shareholder value deteriorated over the respective period owing to reinforced capital intensity measures, resulting in low profitability. A special case is primary agricultural production, where the lo
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17

Ahmed Khaleel, Rana, and Lubna Zaid Ibrahem. "Measuring Shareholder Wealth in Light of Creative Accounting Practices." Journal of Economics and Administrative Sciences 30, no. 141 (2024): 553–64. http://dx.doi.org/10.33095/z7a87864.

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The aim of the research is to shed light on shareholder wealth and explain its definition and the role of management in increasing shareholder wealth and indicators. To achieve the aim of the research, the economic units listed on the Iraqi Securities Market, which completed their final accounts and totaled (138), were selected as a group for research with the identification of (9) expenses and a single hotel. of Iraqi hotels and (5) companies listed on the Iraqi Stock Exchange as a sample for research, and the researchers came to a group of conclusions, the most important of which is that sha
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18

Kusuma Rajabi, Ismi, Lasmanah, and Azib. "EVA, REVA, dan SVA terhadap Return Saham Perusahaan LQ45 2018-2023." Bandung Conference Series: Business and Management 5, no. 1 (2025): 195–202. https://doi.org/10.29313/bcsbm.v5i1.16694.

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Abstract. This study aims to determine whether there is an effect of economic value added (EVA), refined economic value added (REVA), and shareholder value added (SVA) on stock returns in LQ45 companies for the period 2018 - 2023. With the research method used in this research verificative research with a quantitative approach. The research sample used purposive sampling. The number of research population data was 63 companies and obtained 12 companies with a research period of 6 years, so that 72 sample data were obtained. The analysis method used in this research is panel data regression ana
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19

Prahalad, C. K. "CORPORATE GOVERNANCE OR CORPORATE VALUE ADDED?: RETHINKING THE PRIMACY OF SHAREHOLDER VALUE." Journal of Applied Corporate Finance 6, no. 4 (1994): 40–50. http://dx.doi.org/10.1111/j.1745-6622.1994.tb00247.x.

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20

Runge, Christopher. "Influence of reputation on shareholder value." SHS Web of Conferences 129 (2021): 02017. http://dx.doi.org/10.1051/shsconf/202112902017.

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Research background: This paper focuses on the topic of reputation management. Reputation is a social construct. It is based on a person’s opinion of another person, thing, or organization. It is also highly dependent on group interactions and the socio-cultural environment. A good reputation is equated with a high standing and the attributes credibility, honesty, reliability, responsibility, and trust play a major role here. This also applies to companies. The literature offers numerous studies in which the influence of reputation on brand value or company value is examined. Their common teno
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21

M, Raja, and Jagadeeswaran B. "A Study on Shareholders Wealth (value) Creation with Special Reference to Banking Companies." Shanlax International Journal of Commerce, 6, S1 (2018): 95–102. https://doi.org/10.5281/zenodo.2532955.

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The Indian corporates have matured, leaving behind those days where investors  were just a source of funds. The investors expect higher value for their investment. There are some existing models accepted and employed all over the world to measure the share holder’s wealth creation. One of such model is EVA. It is the popular idea for measuring shareholder’s value. Now a day the demand for shareholders value is rising more strongly than ever. However, the measuring parameters like Return on Investment (ROI) and Earnings per Share (EPS) have failed to consider the most important
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22

Huljak, Ivan. "Shareholder value in Croatian banking sector." Croatian Review of Economic, Business and Social Statistics 5, no. 1 (2019): 1–8. http://dx.doi.org/10.2478/crebss-2019-0001.

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AbstractThe view on banks as investments in Croatia is challenged by two phenomena: dual holdings (owners are intensely involved in bank balance sheet as, apart from equity, they provide a significant portion of deposits and loans) and the impediments to determining the cost of equity (as only a handful of banks are traded and with questionable liquidity in the capital market). The paper contributes to the literature by applying the panel regression on the translog cost function in order to calculate the shadow cost of equity for banks in Croatia for the period from 1994 to 2016. In the next s
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Ms., Pallavi Pahuja, and Sandeep Passi Mr. "EVALUATION OF ECONOMIC VALUE ADDED AS A PERFORMANCE MEASUREMENT TOOL - A STUDY." International Journal of Marketing & Financial Management 3, no. 5 (2015): 29–40. https://doi.org/10.5281/zenodo.10807921.

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ABSTRACT In traditional method of computing the final results, compensation to labour and management is charged to profit and loss account. Cost of debt is also charged to the profit and loss account. Only the cost of equity capital is ignored. But in reality equity capital is scarce and has an opportunity cost, just as any factor of production. Yet traditional measures like ROI i.e. Return on investment, EPS i.e. Earning per share and Net Income does not account for the cost of equity capital. Economic Value Added is computed by taking into account the cost of equity. Economic Value Added is
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Yulistiani, Nita. "PENGARUH MULTIPLE LARGE SHAREHOLDER STRUCTURE, LEVERAGE, DAN INTELLECTUAL CAPITAL TERHADAP KINERJA PERUSAHAAN JASA NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA." Ultimaccounting : Jurnal Ilmu Akuntansi 13, no. 1 (2021): 1–16. http://dx.doi.org/10.31937/akuntansi.v13i1.1754.

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Abstract— This research is quantitative and examined the effect of multiple large shareholder structure, leverage, and intellectual capital on company performance using the ROE. The data is retrieved from financial statements of service companies, exclude the finance subsector, listed on the Indonesian Stock Exchange for the period 2014-2018. There are 36 companies and 171 data for the sample using the purposive sampling method. The method of analysis used is multiple linear regression. The result is that multiple large shareholder structure, leverage, and intellectual capital have significant
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Banerjee, Ashok. "Economic Value Added and Shareholder Wealth - An empirical study of relationship." Paradigm 3, no. 1 (1999): 99–133. http://dx.doi.org/10.1177/0971890719990111.

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Novikov V., Novikov V. "THEORETICAL ANALYSIS OF BUSINESS VALUE ADDED VALUATION MODELS." Vìsnik Sumsʹkogo deržavnogo unìversitetu 2022, no. 3 (2022): 91–96. http://dx.doi.org/10.21272/1817-9215.2022.3-10.

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The purpose of this study is to conduct a theoretical analysis of scientific models of business value added management, based on the estimated indicators of evaluation in the current unstable conditions of economic activity. In addition, among the objectives of the study was an analysis of the reasons and preconditions for the owners and stakeholders to assess the value of the business, identified the components, effective management of which will increase its value and capitalization. The focus is on management models such as economic value added, market value added, shareholder value added a
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Oke, Oji Okpusa, and Kola Benson Ajeigbe. "Evaluating the Relationship between Accounting Variables, Value-Based Management Variables, and Shareholder Returns: An Empirical Approach." Journal of Risk and Financial Management 17, no. 8 (2024): 371. http://dx.doi.org/10.3390/jrfm17080371.

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This study assessed the accounting-based variables and value-based management (VBM) variables that jointly affect firm value and performance. The study applied the causality test and variance decomposition to determine the variability of the variables, and further empirically employed fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) techniques to justify the results. Data covering 356 industries were purposively sampled to arrive at 61 companies spanning 2011–2020. Overall, the causality test found no relationship between economic value added and market v
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Guermat, Cherif, Ismail U. Misirlioglu, and Ahmed M. Al-Omush. "The long-term effect of economic value added adoption on the firm’s business decision." Accounting Research Journal 32, no. 3 (2019): 496–513. http://dx.doi.org/10.1108/arj-01-2018-0018.

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Purpose This study aims to examine the long-term effects of adopting economic value added (EVA) as a compensation tool on managers’ behaviour. Design/methodology/approach The authors extend the sample used in prior studies both in the time and the cross-section dimensions. Findings The study conclusions are distinct from those offered by existing studies. The authors show that EVA adopters, relative to non-EVA adopters, increase the working capital cycle, use their assets less intensively and decrease their payouts to shareholders via a decrease in dividends and share repurchases. In investing
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Hall, John Henry. "Value creation measures: an industry-based study." International Journal of Productivity and Performance Management 67, no. 2 (2018): 426–44. http://dx.doi.org/10.1108/ijppm-08-2016-0178.

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Purpose The purpose of this paper is to identify the shareholder value creation measure best suited to express shareholder value creation for a particular industry. Design/methodology/approach The analysis was performed on 192 companies listed on the Johannesburg Stock Exchange, classified into nine different samples or industries. Five shareholder value creation measures were examined, namely market value added (MVA), a market-adjusted stock return, the market-to-book ratio, Tobin’s Q ratio, and the return on capital employed divided by the cost of equity. Findings An analysis of the nine cat
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Mariyani, Dede, Hariyanti Hariyanti, and Diah Rachmawatie Novida. "The Effect Of Economic Value Added (Eva), Market Value Added (MVA), Refined Economic Value Added (REVA) On Stock Prices And Stock Returns In Manufacturing Companies Listed In Indonesia Stock Exchange." WINTER JOURNAL: IMWI STUDENT RESEARCH JOURNAL 3, no. 1 (2023): 10–22. http://dx.doi.org/10.52851/wt.v3i1.46.

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The development of stock returns of manufacturing companies shows fluctuating movements from year to year. Return movements like this indicate that the condition of the manufacturing company is unstable so that it has an impact on the resulting stock returns. This uncertainty will certainly create its own concerns for investors who will invest in shares in manufacturing companies. With this, it is important for investors to analyze the company's condition first so that the investment made can provide returns. One aspect of the company that can be assessed by investors is the company's performa
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Zvinowanda, Douglas, Chengedzai Mafini, and John D. Beneke. "The Influence of Educational Diversity on Shareholder Value Creation in South African Corporate Boards." International Journal of Economics and Financial Issues 15, no. 1 (2024): 70–83. https://doi.org/10.32479/ijefi.17252.

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This study investigates the influence of board education diversity on shareholder value creation of South African non-financial companies listed on the JSE for the 10 years from 2013 until 2022. In this study, a quantitative quasi-experimental design was used. Data were collected from 2013 to 2022 from 101 non-financial companies listed on the JSE. The final sample consisted of 1010 company-year observations. The study measured board education level diversity using the proportion of board members with master’s degrees, the proportion of board members with PhD and the Blau index for board educa
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Zvinowanda, Douglas, Chengedzai Mafini, and John Beneke. "Does corporate board gender diversity influence shareholder value?" International Journal of Business Ecosystem & Strategy (2687-2293) 6, no. 4 (2024): 01–19. https://doi.org/10.36096/ijbes.v6i4.617.

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This study investigates the influence of board gender diversity on the shareholder value of South African-listed non-financial companies on the JSE from 2013 to 2022. The study used a quantitative quasi-experimental method to examine the influence of board gender diversity on shareholder value creation measures from a multi-theoretical perspective. The board gender diversity measures include the proportion of women directors on the board, the Blau index for board gender diversity, and dummy variables indicating the presence of one, two, three, or more women directors on the board, as well as s
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Lambert, Douglas M., and Renan Burduroglu. "Measuring and Selling the Value of Logistics." International Journal of Logistics Management 11, no. 1 (2000): 1–18. http://dx.doi.org/10.1108/09574090010806038.

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In order to receive adequate rewards for the firm's innovations and performance in logistics, managers have to measure and sell the value that is being provided to customers. Value, once determined, must be sold to customers and also to top management within the firm. There are several value metrics mentioned in the literature, ranging in financial sophistication from customer satisfaction to shareholder value including: customer satisfaction, customer value‐added (CVA), total cost analysis, segment profitability analysis, strategic profit model and shareholder value. While customer satisfacti
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Kihm, Steven, Peter Cappers, Andrew Satchwell, and Elisabeth Graffy. "Corporate Finance and Sustainability: the Case of the Electric Utility Industry." Journal of Applied Corporate Finance 30, no. 1 (2018): 106–11. http://dx.doi.org/10.1111/jacf.12283.

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The electric utility industry is in transition but needs to move even faster if the country is to meet its emissions goals. The industry has historically moved cautiously, but policies and regulatory approaches must avoid unintentionally reinforcing the status quo. Incentive‐oriented policies and redesigned regulations must balance environmental sustainability with economic sustainability.The authors draw on well‐established corporate finance principles to guide more effective policies. Shareholder‐focused utility executives must make investments conditioned by three elements: (1) the return o
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Petravičius, Tomas, and Rima Tamošiūnienė. "CORPORATE PERFORMANCE AND THE MEASURES OF VALUE ADDED." TRANSPORT 23, no. 3 (2008): 194–201. http://dx.doi.org/10.3846/1648-4142.2008.23.194-201.

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In recent years, managers have turned their attention to the ways increasing the value of their companies. A number of competing measures have been developed and marketed by investment and consulting firms. This paper considers the ways in which value can be created or destroyed in a firm and looks at how to calculate the cost of capital used to measure the opportunity cost of investing funds in one particular business instead of others with equivalent risk. Next, we have a look at the four most widely used value enhancement measures including Economic Value Added, Cash Flow Return on Investme
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Onuorah, A.C. "Corporate Financing Options and Its Impact on Shareholder's Value in Nigeria." International Journal of Management Sciences and Business Research 7, no. 8 (2018): 69–78. https://doi.org/10.5281/zenodo.3484465.

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This study examined corporate financing options on shareholder’s value in Nigeria for eleven (11) years spanning from 2007 to 2017. The study used time series data derived from the central bank of Nigeria (CBN) statistical bulletin (2017) an annual report of the banks under study. The independent variables are debenture, bonds, preference shares and ordinary shares which were proxied for corporate financing options. While the dependent variable is value added which was proxied for shareholder’s value. The value added for the purpose of this study represents the additional wealth wh
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V.N. Sailaja. "A Study on Exploring the Nexus between Economic Value Added (EVA) and Equity Capital." Journal of Information Systems Engineering and Management 10, no. 5s (2025): 138–48. https://doi.org/10.52783/jisem.v10i5s.598.

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This paper investigates the intricate relationship between Economic Value Added and equity capital, aimed to determine their synergies in evaluating a company's financial performance. It is a metric designed to measure the company’s economic profit by considering the cost of capital, serves as a pivotal indicator of its wealth creation capabilities. Conversely, equity capital constitutes the primary funding source from shareholders, representing a fundamental aspect of a firm's financial structure and ownership. The primary objective of this study is to analyse the relationship between Economi
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Piętka, Jakub. "Redemption of Shares or Stocks and Their Influence on Tax Obligation in Value Added Tax." Przegląd Prawno-Ekonomiczny, no. 2 (June 26, 2024): 99–116. http://dx.doi.org/10.31743/ppe.16248.

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The article presents the problem of taxation of value added tax and the remuneration in kind paid to a shareholder as a result of the redemption of shares. Settlements made between a company and a former shareholder may be considered a taxable transaction. Two opposing concepts found in the case law are to treat for tax purposes the redemption of shares with remuneration as a single transaction, or to separate only the phase of payment of remuneration for the redeemed shares and consider it a supply of goods for consideration. The practical importance of the issues raised is evidenced by the f
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Munzhelele, Ntungufhadzeni Freddy, and Ayodeji Michael Obadire. "Determinants of Cash Distribution Options in South African Listed Firms: An Empirical Analysis of Earnings, Company Size, and Economic Value Added." Risks 11, no. 10 (2023): 181. http://dx.doi.org/10.3390/risks11100181.

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The purpose of this study was to examine the determinants of cash distribution options by critically considering the effects of earnings, dividends, firm size, and economic value added. The distribution of cash dividends to shareholders serves as a basic means by which shareholders receive returns on their investments, so it is essential to examine share repurchases alongside dividends to enhance management’s efforts in maximising shareholder value. This study utilised panel data from 52 companies listed on the Johannesburg Security Exchange (JSE) that engaged in open market share repurchases
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Midfi, Shalsyabilla Kasandra, Djoni Djatnika, and Fifi Afiyanti Tripuspitorini. "Kinerja Keuangan Berbasis Value Added Menggunakan Konsep EVA, MVA, REVA, FVA, dan SVA pada Perusahaan Semen Kategori Indeks LQ45." Indonesian Journal of Economics and Management 1, no. 3 (2021): 510–22. http://dx.doi.org/10.35313/ijem.v1i3.3008.

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The research objective is to examine the financial performance of PT Semen Indonesia (Persero) Tbk (SMGR) and PT Indocement Tunggal Prakarsa Tbk (INTP) 2015-2019. The two companies are companies that are always indexed in the LQ45 stock index in 2015-2019. However, during this period, cement companies experienced excess supply and the emergence of new competitors which would have an effect on the company's financial performance. For this phenomenon, it is required to analyze the value added-based financial performance of the company, in order to determine the company's ability to create added
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Hetsheimeir, Marcio, Fabiano Lima, and Tabajara J�nior. "SHAREHOLDER VALUE ADDED AS A VALUE CREATION MEASURE IN NON FINANCIAL BRAZILIAN COMPANIES: AN EXPLORATORY STUDY." Review of Business Research 13, no. 2 (2013): 5–10. http://dx.doi.org/10.18374/rbr-13-2.1.

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Mir, Ali El, and Souad Seboui. "Corporate governance and earnings management and the relationship between economic value added and created shareholder value." Journal of Asset Management 7, no. 3-4 (2006): 242–54. http://dx.doi.org/10.1057/palgrave.jam.2240216.

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Dr., Madan Lal Bhasin. "Disclosure of EVA in the Financial Statements: Experience of an Asian Economy." International Journal of Management Sciences and Business Research 5, no. 9 (2016): 28–46. https://doi.org/10.5281/zenodo.3464894.

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In the 21st century, investors, creditors, analysts and other stakeholders are now requiring much more insight about company"s performance, strategic direction and exposure to risk. This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting valuebased models for measuring shareholder value that helps to align managerial decision-making with t
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44

Yaman, Kemal, and Seda Topal. "Effect of EVA, CFROI, MVA and CVA Methods on Shareholders Value Maximization and Financial Performance Estimation: An Empirical Study." Journal of Applied And Theoretical Social Sciences 6, no. 3 (2024): 247–63. http://dx.doi.org/10.37241/jatss.2024.113.

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With the globalization of markets, competition and performance pressure have accelerated. Investors rightfully expect a reasonable return on the capital they make available to others. Since companies often achieve their growth through capital obtained from new shareholders, the pressure on company profitability increases significantly. The capital market rewards companies' good performance and also punishes their bad performance. At this point, Economic Value Added (EVA), Cash Flow Return on Investment (CFROI), Cash Value Added (CVA) and Market Value Added (MVA), which ensure value maximizatio
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Almeita Gari. "ANALISIS KINERJA KEUANGAN PT. MANDOM INDONESIA Tbk PERIODE 2016-2020 DENGAN MENGGUNAKAN ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA)." Curve Elasticity: Jurnal Pendidikan Ekonomi 4, no. 1 (2023): 66–79. http://dx.doi.org/10.57094/jpe.v4i1.814.

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The purpose ofthis study was to calculate the method of Economic Value Added (EVA) and Market Value Added (MVA) in analyzing and knowing the financial performance of PT. Mandom Indonesia Tbk Period 2016-2020. This research is a descriptive qualitative research to analyze the Economic Value Added (EVA) and Market Value Added (MVA) method, namely by using data sourced from PT. Mandom Indonesia Tbk 2016-2020 which is accessed through the website www.idx.co.id. To find out the financial performance of PT. Mandom Indonesia Tbk, it is necessary to analyze the financial statements in the form of inco
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Kozyr, Yuriy V. "Overview of Additional Issue of Shares and Debt in the Process of Value Appraisal of Shares and Planning of Additional Issue Parameters." Journal of Economics and Public Finance 2, no. 2 (2016): 298. http://dx.doi.org/10.22158/jepf.v2n2p298.

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<em>The article contains a theoretical analysis of the impact of additional issue of shares on the value of the invested and stock capital. The present analysis encompasses aspects of redistribution of capital between the old and new shareholders, as well as valuation procedures in different situations, both in terms of the volume of additional issue of shares and of payment methods. The income approach is used in the value appraisal. The principal place under the income approach is given to the shareholder value added model (model SVA). This article may be useful in solving a number of
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Al Rafi, Fauzan, Samsul Samsul, and Supriadi Hamid. "The Influence of Economic Value Added (EVA), Market Value Added (MVA) And Company Value On Stock Prices PT. Bank Panin Dubai Syariah." Jurnal Hukum Ekonomi Syariah : AICONOMIA 3, no. 1 (2024): 01–14. http://dx.doi.org/10.32939/acm.v3i1.3132.

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Share price is an indicator of the success of running a company. When a company's share price rises, investors believe the company is successful in managing its business. If share prices continue to fall, it means the company has not succeeded in increasing its company value. This research aims to determine the influence of each variable Economic Value Added (EVA), Market Value Added (MVA), and Company Value on the share price of PT. Bank Panin Dubai Syariah both partially and simultaneously. This research is quantitative research with a correlational approach (correlation), the research data
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Wibowo, Padmono. "The Impact of Human Resource Practices on Shareholder Value." Atestasi : Jurnal Ilmiah Akuntansi 7, no. 2 (2024): 795–809. http://dx.doi.org/10.57178/atestasi.v7i2.882.

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This study aims to measure the specific impact of various human resource management (HRM) practices on shareholder value and identify the most effective HRM strategies for enhancing this value. Employing a comprehensive empirical analysis, the research integrates HR and financial data across diverse industries and organizational contexts to evaluate HRM's contribution to corporate financial performance. The methodology includes an extensive literature review, secondary data collection from scholarly articles, industry reports, and semi-structured interviews with HR managers and corporate leade
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Lueg, Rainer, and Jon Svennesen Toft. "Earnings Less Risk-Free Interest Charge (ERIC) and Stock Returns—A Value-Based Management Perspective on ERIC’s Relative and Incremental Information Content." Journal of Risk and Financial Management 15, no. 8 (2022): 368. http://dx.doi.org/10.3390/jrfm15080368.

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This paper investigates the relative and incremental information content of KPMG’s recently developed metric for shareholder value creation: earnings less risk-free interest charge (ERIC). We assess if ERIC has a better ability to predict stock returns than earnings, cash flow from operations (CFO), earnings before extraordinary items (EBEI), residual income (RI), or economic value added (EVA). We evaluate data from 214 companies listed on the U.S. Standard & Poor’s 500 Index from 2003 to 2012 (2354 firm-year observations). Similar to previous studies, we confirm that CFO and EBEI have the
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Adam, Anokye, and Edward Quansah. "Effects of working capital management policies on shareholders’ value: Evidence from listed manufacturing firms in Ghana." Panoeconomicus 66, no. 5 (2019): 659–86. http://dx.doi.org/10.2298/pan161206027a.

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This study has sought to determine the effects of working capital management policies on shareholder value creation for six manufacturing firms listed at the Ghana Stock Exchange for the period of 2000-2013. Data were gathered from the annual reports of the firms and the publication of Ghana Stock Exchange. The study employed a longitudinal explanatory non-experimental research design applied to a dynamic panel Autoregressive Distributed Lags methodology framework for analysing the data. The results indicated that conservative current asset investment policies increase economic value added (EV
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