Performance Measurement Through Financial Indicators

In terms of the concept of performance, the literature does not offer a unitary view on it, and therefore one may frequently encounter either singularized definitions of the concept which only take into account a number of aspects, or definitions that are too general and consequently hard to quantify. Without choosing between the modern indicators of performance measurement in companies, some principal conclusions have resulted: these indicators offer the possibility of making comparisons between companies from the same country, but also between companies located in different countries; the regular use of the EVA, MVA, TSR, CVA, CFROI and EM indicators in case studies has shown that, generally, the results are not significantly dissimilar. If differences do appear, it is because of the heterogeneous choice of the analysis periods and of the assumptions on which the reprocessing of the accounting information is based; of all the indicators used, the market value added (MVA) is the best known indicator for quantifying the companies’ performances from the investor’s point of view. In our paper we have tried to resume the most important indicators (especially the financial one, that are traditional and