Ataünal, Levent; Gürbüz, Ali Osman; Aybars, Asli - In: European Financial and Accounting Journal 11 (2016) 3, pp. 25-38
data approach, it is shown that sales growth below sustainable growth rate (SGR) enhance shareholder value at a … significantly higher rate compared to growth above sustainable growth rate. The findings suggest that shareholder value creation … maximizes around sustainable growth rate and decreases sharply once SGR exceeded. …