A growing number of companies use EVA or related measures of economic profits as metrics for corporate planning and executive compensation. Unlike traditional accounting measures of performance, EVA attempts to measure the value that firms create or destroy by subtracting a capital charge from...

This paper examines the bidding behavior of investors who participated in the voucher scheme used to privatize 988 Czech enterprises. In the first round of the privatization scheme, the Czech authorities set a uniform price for all companies, creating a natural experiment for testing several...