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Eva, Accounting Profits, And Ceo Turnover: An Empirical Examination, 1985-1994

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  • Kenneth Lehn
  • Anil K. Makhija

Abstract

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 the cash returns they generate on invested capital. For this reason, EVA is seen by its proponents as providing the most reliable year-to-year indicator of a market based performance measure known as market value added, or MVA. 1997 Morgan Stanley.

Suggested Citation

  • Kenneth Lehn & Anil K. Makhija, 1997. "Eva, Accounting Profits, And Ceo Turnover: An Empirical Examination, 1985-1994," Journal of Applied Corporate Finance, Morgan Stanley, vol. 10(2), pages 90-97.
  • Handle: RePEc:bla:jacrfn:v:10:y:1997:i:2:p:90-97
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    Cited by:

    1. Ittner, Christopher D. & Larcker, David F., 2001. "Assessing empirical research in managerial accounting: a value-based management perspective," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 349-410, December.
    2. Kai Henning Blume, 2016. "Value-based management as a tailor-made management practice? A literature review," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(3), pages 553-590, September.
    3. repec:jfr:ijfr11:v:8:y:2017:i:4:p:196-212 is not listed on IDEAS
    4. Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December.
    5. Adel Elgharbawy & Magdy Abdel-Kader, 2013. "Enterprise governance and value-based management: a theoretical contingency framework," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(1), pages 99-129, February.
    6. Elena Shakina & Maria Molodchik, 2013. "Intangible-driven value creation: supporting and obstructing factors," HSE Working papers WP BRP 24/FE/2013, National Research University Higher School of Economics.

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