This article uses the recent developments in the econometrics of non-stationary dynamic panel data to re-examine the relationship between external and internal performance measures of the firm. A sample of 420 U.S. firms over the period (1990-2004) is used in the empirical analysis. In addition,...

This paper shows the most relevant value creation indicator in a competitive economic equilibrium framework. We analyze the relationship between the cost of capital and the competitive dynamics of the firm. Several related propositions on the most relevant value creation indicator under a...

This paper shows the relevant value creation indicator in a competitive economic equilibrium framework. We analyze the relationship between the cost of capital and the competitive dynamics of the firm. Several related propositions on the most relevant value creation indicator under dynamic...

To date, ignorance seems to persist about the link between these three concepts. The reason is probably that there is no unequivocal demonstration of the relationship between the concepts of Economic Value Added (EVA), Free Cash Flows (FCF) and the well-known traditional method of the Net...