메뉴 건너뛰기




Volumn 9, Issue 1, 2001, Pages 67-86

Economic Value-Added: A Review of the Theoretical and Empirical Literature

Author keywords

[No Author keywords available]

Indexed keywords


EID: 84992933738     PISSN: 13217348     EISSN: 17588863     Source Type: Journal    
DOI: 10.1108/eb060736     Document Type: Review
Times cited : (31)

References (53)
  • 1
    • 0007326658 scopus 로고
    • The Impact of Performance Plan Adoption on Value Added and Earnings
    • Askren, B. J., Bannister, J. W., and Pavlik, E. L., 1994, The Impact of Performance Plan Adoption on Value Added and Earnings, Managerial Finance, 20, 9: 27–43.
    • (1994) Managerial Finance , vol.20 , Issue.9 , pp. 27-43
    • Askren, B.J.1    Bannister, J.W.2    Pavlik, E.L.3
  • 3
    • 53149129901 scopus 로고    scopus 로고
    • The Time Series Behaviour and Predictive Ability Results of Annual Value Added Data
    • Bao, B. H. and Bao, D. H., 1996, The Time Series Behaviour and Predictive Ability Results of Annual Value Added Data, Journal of Business Finance and Accounting, 23, 3: 449–460.
    • (1996) Journal of Business Finance and Accounting , vol.23 , Issue.3 , pp. 449-460
    • Bao, B.H.1    Bao, D.H.2
  • 4
    • 27844500490 scopus 로고    scopus 로고
    • Usefulness of Value Added and Abnormal Economic Earnings: An Empirical Examination
    • Bao, B. H. and Bao, D. H., 1998, Usefulness of Value Added and Abnormal Economic Earnings: An Empirical Examination, Journal of Business Finance and Accounting, 25, 1–2: 251–265.
    • (1998) Journal of Business Finance and Accounting , vol.25 , Issue.1-2 , pp. 251-265
    • Bao, B.H.1    Bao, D.H.2
  • 5
    • 84993029672 scopus 로고    scopus 로고
    • Economic Profit: An Old Concept Gains New Significance
    • Bell, L. W. W., 1998, Economic Profit: An Old Concept Gains New Significance, Journal of Business Strategy, 19, 5: 13–15.
    • (1998) Journal of Business Strategy , vol.19 , Issue.5 , pp. 13-15
    • Bell, L.W.W.1
  • 6
    • 77954802271 scopus 로고    scopus 로고
    • Economic Value Added: Some Empirical EVAdence
    • Biddle, G. C., 1998, Economic Value Added: Some Empirical EVAdence, Managerial Finance, 24, 11:60–70.
    • (1998) Managerial Finance , vol.24 , Issue.11 , pp. 60-70
    • Biddle, G.C.1
  • 7
    • 0031593253 scopus 로고    scopus 로고
    • Does EVA Beat Earnings? Evidence on Associations with Stock Returns and Firm Values
    • Biddle, G. C., Bowen G. S., and Wallace, J. S., 1997, Does EVA Beat Earnings? Evidence on Associations with Stock Returns and Firm Values, Journal of Accounting and Economics, 24, 3: 301–336.
    • (1997) Journal of Accounting and Economics , vol.24 , Issue.3 , pp. 301-336
    • Biddle, G.C.1    Bowen, G.S.2    Wallace, J.S.3
  • 8
    • 0001837476 scopus 로고    scopus 로고
    • Use of R2 in Accounting Research: Measuring Changes in Value Relevance over the Last Four Decades
    • Brown, S., Lo, K., and Lys, T., 1999, Use of R2 in Accounting Research: Measuring Changes in Value Relevance over the Last Four Decades, Journal of Accounting and Economics, 28, 1: 83–115.
    • (1999) Journal of Accounting and Economics , vol.28 , Issue.1 , pp. 83-115
    • Brown, S.1    Lo, K.2    Lys, T.3
  • 9
    • 0010791140 scopus 로고    scopus 로고
    • The Truth about Economic Value Added
    • July
    • Burlett, G. D. and Hedley, T. P., 1997, The Truth about Economic Value Added, The CPA Journal, July: 46–55.
    • (1997) The CPA Journal , pp. 46-55
    • Burlett, G.D.1    Hedley, T.P.2
  • 10
    • 0010852714 scopus 로고    scopus 로고
    • Economic Value Added (EVA): An Empirical Examination of a New Corporate Performance Measure
    • Chen, S. and Dodd, J. L., 1997, Economic Value Added (EVA): An Empirical Examination of a New Corporate Performance Measure, Journal of Managerial Issues, 9, 3: 318–333.
    • (1997) Journal of Managerial Issues , vol.9 , Issue.3 , pp. 318-333
    • Chen, S.1    Dodd, J.L.2
  • 11
    • 0000243445 scopus 로고
    • Non-Linearity and Specification Problems in Unexpected Earnings Response Regression Model
    • Cheng, C. S., Hopwood, W., and McKeown, J. C., 1992, Non-Linearity and Specification Problems in Unexpected Earnings Response Regression Model, The Accounting Review, 67, 3: 579–598.
    • (1992) The Accounting Review , vol.67 , Issue.3 , pp. 579-598
    • Cheng, C.S.1    Hopwood, W.2    McKeown, J.C.3
  • 12
    • 3543061134 scopus 로고    scopus 로고
    • Do New Performance Measures Measure Up?
    • Clinton, B. D. and Chen, S., 1998, Do New Performance Measures Measure Up?, Management Accounting, 80, 4: 38–44.
    • (1998) Management Accounting , vol.80 , Issue.4 , pp. 38-44
    • Clinton, B.D.1    Chen, S.2
  • 13
    • 84984175101 scopus 로고
    • Nonlinearity in the Returns-Earnings Relation: Tests of Alternative Specifications and Explanations
    • Das, S. and Lev, B., 1994, Nonlinearity in the Returns-Earnings Relation: Tests of Alternative Specifications and Explanations, Contemporary Accounting Research, 11, 1:353–379.
    • (1994) Contemporary Accounting Research , vol.11 , Issue.1 , pp. 353-379
    • Das, S.1    Lev, B.2
  • 14
    • 0010853122 scopus 로고    scopus 로고
    • The Distortions in Economic Value Added (EVA) Caused by Inflation
    • De Villiers, J., 1997, The Distortions in Economic Value Added (EVA) Caused by Inflation, Journal of Economics and Business, 49: 285–300.
    • (1997) Journal of Economics and Business , vol.49 , pp. 285-300
    • De Villiers, J.1
  • 15
    • 0002250074 scopus 로고    scopus 로고
    • An Empirical Assessment of the Residual Income Valuation Model
    • Dechow, P. M., Hutton, A. P., and Sloan, R. G., 1999, An Empirical Assessment of the Residual Income Valuation Model, Journal of Accounting and Economics, 26, 1: 1–34.
    • (1999) Journal of Accounting and Economics , vol.26 , Issue.1 , pp. 1-34
    • Dechow, P.M.1    Hutton, A.P.2    Sloan, R.G.3
  • 17
    • 52049106228 scopus 로고    scopus 로고
    • Usefulness of Value Added Reporting: A Review and Synthesis of the Literature
    • Evraert, S., 1998, Usefulness of Value Added Reporting: A Review and Synthesis of the Literature, Managerial Finance, 24, 11: 1–15.
    • (1998) Managerial Finance , vol.24 , Issue.11 , pp. 1-15
    • Evraert, S.1
  • 18
    • 75949120103 scopus 로고    scopus 로고
    • Australia's Best Value in Chief Executives
    • November
    • Ferguson, A., 1997, Australia's Best Value in Chief Executives, Business Review Weekly, 24 November: 57–61.
    • (1997) Business Review Weekly , vol.24 , pp. 57-61
    • Ferguson, A.1
  • 19
    • 3042865287 scopus 로고    scopus 로고
    • Search for the Best Financial Performance Measure: Basics are Better
    • January/February
    • Ferguson, R. and Leistikow, D., 1998, Search for the Best Financial Performance Measure: Basics are Better, Financial Analysts Journal, January/February: 81–85.
    • (1998) Financial Analysts Journal , pp. 81-85
    • Ferguson, R.1    Leistikow, D.2
  • 20
    • 21144462546 scopus 로고
    • A Nonlinear Model of Security Price Responses to Unexpected Earnings
    • Freeman, R. N. and Tse, S. Y., 1992, A Nonlinear Model of Security Price Responses to Unexpected Earnings, Journal of Accounting Research, 30, 2: 185–209.
    • (1992) Journal of Accounting Research , vol.30 , Issue.2 , pp. 185-209
    • Freeman, R.N.1    Tse, S.Y.2
  • 21
    • 0038067061 scopus 로고    scopus 로고
    • Implementing EBO/EVA Analysis in Stock Selection
    • Spring
    • Herzberg, M. M., 1998, Implementing EBO/EVA Analysis in Stock Selection, Journal of Investing, Spring: 45–53.
    • (1998) Journal of Investing , pp. 45-53
    • Herzberg, M.M.1
  • 22
    • 0001833364 scopus 로고    scopus 로고
    • The How and Why of EVA at CS First Boston
    • Jackson, A., 1996, The How and Why of EVA at CS First Boston, Journal of Applied Corporate Finance, 9, 1: 98–115.
    • (1996) Journal of Applied Corporate Finance , vol.9 , Issue.1 , pp. 98-115
    • Jackson, A.1
  • 23
    • 84992988374 scopus 로고    scopus 로고
    • Getting to Know EVA
    • August
    • Jackson, S., 1997, Getting to Know EVA, The Australian, 14 August: 23.
    • (1997) The Australian , vol.14 , pp. 23
    • Jackson, S.1
  • 24
    • 84993082235 scopus 로고
    • The Effect of the Implementation of the Multidivisional Structure on Shareholder's Wealth: The Contingency of Diversification Strategy
    • Karpik, P. and Riahi-Belkaoui, A., 1994, The Effect of the Implementation of the Multidivisional Structure on Shareholder's Wealth: The Contingency of Diversification Strategy, Journal of Business and Accounting, 21, 3: 349–365.
    • (1994) Journal of Business and Accounting , vol.21 , Issue.3 , pp. 349-365
    • Karpik, P.1    Riahi-Belkaoui, A.2
  • 25
    • 0038855514 scopus 로고    scopus 로고
    • Economic Profit and Performance Measurement in Banking
    • July/August
    • Kimball, R. C., 1998, Economic Profit and Performance Measurement in Banking, New England Economic Review, July/August: 35–53.
    • (1998) New England Economic Review , pp. 35-53
    • Kimball, R.C.1
  • 26
    • 0038743548 scopus 로고    scopus 로고
    • Measuring Wealth
    • April
    • Lee, C., 1996, Measuring Wealth, The CPA Magazine, April: 32–37.
    • (1996) The CPA Magazine , pp. 32-37
    • Lee, C.1
  • 27
    • 0042372131 scopus 로고    scopus 로고
    • EVA, Accounting Profits, and CEO Turnover: An Empirical Examination, 1985–1994
    • Lehn, K. and Makhija, A. K., 1997, EVA, Accounting Profits, and CEO Turnover: An Empirical Examination, 1985–1994, Journal of Applied Corporate Finance, 10, 2: 90–97.
    • (1997) Journal of Applied Corporate Finance , vol.10 , Issue.2 , pp. 90-97
    • Lehn, K.1    Makhija, A.K.2
  • 28
    • 84992930821 scopus 로고    scopus 로고
    • Stern Stewart and KPMG Go To War
    • February 2
    • Leiber, R. B., 1998, Stern Stewart and KPMG Go To War, Fortune, February 2, 30.
    • (1998) Fortune , vol.30
    • Leiber, R.B.1
  • 29
    • 0032571950 scopus 로고    scopus 로고
    • Do Nonlinearity, Firm-Specific Coefficients, and Losses Represent Distinct Factors in the Relation Between Stock Returns and Accounting Earnings?
    • Lipe, R. C., Bryant, L., and Widener, S. K., 1998, Do Nonlinearity, Firm-Specific Coefficients, and Losses Represent Distinct Factors in the Relation Between Stock Returns and Accounting Earnings?, Journal of Accounting and Economics, 25, 1:195–214.
    • (1998) Journal of Accounting and Economics , vol.25 , Issue.1 , pp. 195-214
    • Lipe, R.C.1    Bryant, L.2    Widener, S.K.3
  • 30
    • 0003736757 scopus 로고
    • 8th Edition, 1990 Reprint, London: Macmillan.
    • Marshall, A., 1920, Principles of Economics, 8th Edition, 1990 Reprint, London: Macmillan.
    • (1920) Principles of Economics
    • Marshall, A.1
  • 31
    • 0007684065 scopus 로고    scopus 로고
    • Accounting for Change
    • McClenahen, J. S., 1998, Accounting for Change, Industry Week, 247, 17: 63–65.
    • (1998) Industry Week , vol.247 , Issue.17 , pp. 63-65
    • McClenahen, J.S.1
  • 34
    • 84993046149 scopus 로고
    • The Effects of Ownership Structure on Value Added-Based Performance
    • Pavlik, E. and Riahi-Belkaour, A., 1994, The Effects of Ownership Structure on Value Added-Based Performance, Managerial Finance, 20, 9: 16–24.
    • (1994) Managerial Finance , vol.20 , Issue.9 , pp. 16-24
    • Pavlik, E.1    Riahi-Belkaour, A.2
  • 35
    • 84992932489 scopus 로고    scopus 로고
    • Finding the Best, and Worst, Wealth Creators
    • August
    • Rennie, P., 1997, Finding the Best, and Worst, Wealth Creators, Business Review Weekly, 11 August: 26–27.
    • (1997) Business Review Weekly , vol.11 , pp. 26-27
    • Rennie, P.1
  • 36
    • 32544446517 scopus 로고
    • The Information Content of Value Added, Earnings, and Cash Flow: US Evidence
    • Riahi-Belkaeoui, A., 1993, The Information Content of Value Added, Earnings, and Cash Flow: US Evidence, The International Journal of Accounting, 28, 1: 140–146.
    • (1993) The International Journal of Accounting , vol.28 , Issue.1 , pp. 140-146
    • Riahi-Belkaeoui, A.1
  • 37
    • 84938121325 scopus 로고
    • Explaining Market Returns: Earnings Versus Value Added Data
    • Riahi-Belkaoui, A. and Picur, R. D., 1994, Explaining Market Returns: Earnings Versus Value Added Data, Managerial Finance, 20, 9: 44–55.
    • (1994) Managerial Finance , vol.20 , Issue.9 , pp. 44-55
    • Riahi-Belkaoui, A.1    Picur, R.D.2
  • 38
    • 84938121326 scopus 로고
    • Net Value Added as an Explanatory Variable for Returns
    • Riahi-Belkaoui, A. and Picur, R. D., 1994, Net Value Added as an Explanatory Variable for Returns, Managerial Finance, 20, 9: 56–64.
    • (1994) Managerial Finance , vol.20 , Issue.9 , pp. 56-64
    • Riahi-Belkaoui, A.1    Picur, R.D.2
  • 39
    • 66149163271 scopus 로고    scopus 로고
    • Earnings-Returns Relation versus Net-Value Added-Returns Relation: A Case for Nonlinear Specification
    • Riahi-Belkaoui, A., 1996, Earnings-Returns Relation versus Net-Value Added-Returns Relation: A Case for Nonlinear Specification, Advances in Quantitative Analysis of Finance and Accounting, 4, 1: 175–185.
    • (1996) Advances in Quantitative Analysis of Finance and Accounting , vol.4 , Issue.1 , pp. 175-185
    • Riahi-Belkaoui, A.1
  • 40
    • 11744252174 scopus 로고
    • The Magic in Value Added: Merits of Derived Accounting Indicator Numbers
    • Riahi-Belkaoui, A. and Fekrat, M. A., 1994, The Magic in Value Added: Merits of Derived Accounting Indicator Numbers, Managerial Finance, 20, 9: 3–15.
    • (1994) Managerial Finance , vol.20 , Issue.9 , pp. 3-15
    • Riahi-Belkaoui, A.1    Fekrat, M.A.2
  • 41
    • 84940091105 scopus 로고    scopus 로고
    • Organisational Characteristics and the Emphasis Placed on Share Options in Performance Based Compensation Systems: An Agency Perspective
    • Cairns, 3–7 July.
    • Robertson, S. and Batsakis, G., 1999, Organisational Characteristics and the Emphasis Placed on Share Options in Performance Based Compensation Systems: An Agency Perspective, Paper presented at AAANZ Annual Conference, Cairns, 3–7 July.
    • (1999) Paper presented at AAANZ Annual Conference
    • Robertson, S.1    Batsakis, G.2
  • 42
    • 0001764317 scopus 로고    scopus 로고
    • Intertemporal Cost Allocation and Managerial Investment Incentives: A Theory Explaining the Use of Economic Value Added as a Performance Measure
    • Rogerson, W. P., 1997, Intertemporal Cost Allocation and Managerial Investment Incentives: A Theory Explaining the Use of Economic Value Added as a Performance Measure, Journal of Political Economy, 105, 4: 770–795.
    • (1997) Journal of Political Economy , vol.105 , Issue.4 , pp. 770-795
    • Rogerson, W.P.1
  • 44
    • 24644488966 scopus 로고    scopus 로고
    • http:/www.sternstewart.com/ (March 3, 2001).
    • Stern Stewart and Co, 1999, Internet site, http:/www.sternstewart.com/ (March 3, 2001).
    • (1999) Internet site
  • 48
    • 0002642397 scopus 로고    scopus 로고
    • EVA for Banks: Value Creation, Risk Management, and Profitability Measurement
    • Uyemura, D. G., Kantor, C. C., and Petit, J. M., 1996, EVA for Banks: Value Creation, Risk Management, and Profitability Measurement, Journal of Applied Corporate Finance, 9, 2:94–111.
    • (1996) Journal of Applied Corporate Finance , vol.9 , Issue.2 , pp. 94-111
    • Uyemura, D.G.1    Kantor, C.C.2    Petit, J.M.3
  • 49
    • 85006864431 scopus 로고    scopus 로고
    • The Usefulness of the Value Added Statement in South Africa
    • Van Staden, C. J., 1998, The Usefulness of the Value Added Statement in South Africa, Managerial Finance, 24, 11: 44–58.
    • (1998) Managerial Finance , vol.24 , Issue.11 , pp. 44-58
    • Van Staden, C.J.1
  • 50
    • 0031593257 scopus 로고    scopus 로고
    • Adopting Residual Income-based Compensation Plans: Do You Get What You Paid For?
    • Wallace, J. S., 1996, Adopting Residual Income-based Compensation Plans: Do You Get What You Paid For?, Journal of Accounting and Economics, 24, 2: 275–300.
    • (1996) Journal of Accounting and Economics , vol.24 , Issue.2 , pp. 275-300
    • Wallace, J.S.1
  • 51
    • 0031206046 scopus 로고    scopus 로고
    • Economic Value-Added: A Primer for European Managers
    • Young, D., 1997, Economic Value-Added: A Primer for European Managers, European Management Journal, 15, 4: 335–343.
    • (1997) European Management Journal , vol.15 , Issue.4 , pp. 335-343
    • Young, D.1
  • 52
    • 0002560115 scopus 로고    scopus 로고
    • Some Reflections on Accounting Adjustments and Economic Value-Added
    • Young, S. D., 1999, Some Reflections on Accounting Adjustments and Economic Value-Added, Journal of Financial Statement Analysis, 4, 2: 7–13.
    • (1999) Journal of Financial Statement Analysis , vol.4 , Issue.2 , pp. 7-13
    • Young, S.D.1
  • 53
    • 0002686854 scopus 로고    scopus 로고
    • EVA and Divisional Performance Measurement: Capturing Synergies and Other Issues
    • Zimmerman, J. L., 1997, EVA and Divisional Performance Measurement: Capturing Synergies and Other Issues, Journal of Applied Corporate Finance, 10: 2: 98–109.
    • (1997) Journal of Applied Corporate Finance , vol.10 , Issue.2 , pp. 98-109
    • Zimmerman, J.L.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.