New Metrics for Value-Based Management Enhancement of Performance Measurement and Empirical Evidence on Value-Relevance /
Value-Based Management, a widely applied reference for strategic management, aims at maximizing sustainable shareholder value creation. However, respective accounting metrics to measure the firm<U+0019>s wealth creation, such as residual income and Economic Value Added (EVAʼ), are distorted by...
| Main Author: | |
|---|---|
| Corporate Author: | |
| Format: | Electronic |
| Language: | English |
| Published: |
Wiesbaden :
Gabler,
2009.
|
| Subjects: | |
| Online Access: | https://ezaccess.library.uitm.edu.my/login?url=http://dx.doi.org/10.1007/978-3-8349-8400-5 |
| Summary: | Value-Based Management, a widely applied reference for strategic management, aims at maximizing sustainable shareholder value creation. However, respective accounting metrics to measure the firm<U+0019>s wealth creation, such as residual income and Economic Value Added (EVAʼ), are distorted by accounting depreciation, implying inconsistent investment disincentives. Annette Holler introduces two new depreciation-adjusted value metrics and illustrates the depreciation-related bias in a case study. Finally, a regression analysis adds to previous evidence on associations between value creation and stock returns as well as firm values. |
|---|---|
| Physical Description: | XXI, 217p. 32 illus. online resource. |
| ISBN: | 9783834984005 |