haku: @author Kyriazis, D. / yhteensä: 3
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| Tekijä: | Kyriazis, D. Anastassis, C. |
| Otsikko: | The validity of the economic value added approach: an empirical application |
| Lehti: | European Financial Management
2007 : JAN, VOL. 13:1, p. 71-100 |
| Asiasana: | stock markets value added stock exchanges stock returns residual income information models Europe Greece |
| Kieli: | eng |
| Tiivistelmä: | This study examines the relative explanatory power of the Economic Value Added (EVA) model with respect to stock returns and firms' market value, compared to established accounting variables (e.g. net income, operating income), in the context of a small European developing market, that is, the Athens Stock Exchange, in its first market-wide application of the EVA measure. Among others, relative information content tests are found to reveal that net and operating income appear to be more value relevant than EVA. |
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