When economists seek explanations for what creates value, they come across two problems: how to define value creation and how to measure it. A measure designated economic value added (EVA) has been gaining prominence in the last two decades. This measure is purportedly a more appropriate...

Drawing on previous research in the Resource-Based View of the Firm, this study aimed at illustrating the interrelationships between the properties of productive resources and the profitability of firms, in the Brazilian autoparts industry. The inspiration for this study was a research conducted...

The objective of this article is to examine four theories that consider an explanation and measurement for the value of liquidity. Liquidity will be understood as cash, that is, we are leaving aside assets of lesser degree of liquidity than cash. The article begins with the Keynesian view about...

The Present Value Model (PVM) – in which current security prices depend upon the present value of future discounted dividends, where the discount rate is equivalent to the required rate of return – is one of the long-standing principles of Finance Theory. The objective of this work is to...