SOME NEW EVIDENCE ON EVA COMPANIES
The study of companies using EVA and EVA-like systems discussed in the previous article provides evidence of changes in managerial behavior, such as reduced capital expenditures, increased share repurchases, and increased residual income, but stops short of concluding that such changes have increased shareholder value. This article presents evidence that directly addresses the issue: Do companies adopting EVA add more value for their shareholders than their industry competitors? 1999 Morgan Stanley.
Year of publication: |
1999
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Authors: | Kleiman, Robert T. |
Published in: |
Journal of Applied Corporate Finance. - Morgan Stanley, ISSN 1078-1196. - Vol. 12.1999, 2, p. 80-91
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Publisher: |
Morgan Stanley |
Saved in:
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