IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vviiiy2005i3-4p79-86.html
   My bibliography  Save this article

Value Based Corporate Finance in the Secondary Sector in Greece

Author

Listed:
  • Dr. Panayiotis G. Artikis

Abstract

The purpose of the present research is to evaluate the value creation capacity of the secondary sector firms, listed in the Athens Stock Exchange over the period 2000 – 2004, using the Economic Value Added Model developed by Stern Stewart & Co. The percentage of the sample firms with a negative Economic Value Added ranges from 48% to 61%; the majority of the firms experience positive return on the capital invested, but this is not enough to cover their weighted average cost of capital. Two industries have positive average Economic Value Added in all five years, while the remaining two have positive average Economic Value Added in only two years. All industries in all five years have positive average return on the capital invested, however some of them have disproportionately high weighted average cost of capital.

Suggested Citation

  • Dr. Panayiotis G. Artikis, 2005. "Value Based Corporate Finance in the Secondary Sector in Greece," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 79-86.
    • Handle: RePEc:ers:journl:v:viii:y:2005:i:3-4:p:79-86
    as

    Download full text from publisher

    File URL: http://www.ersj.eu/repec/ers/papers/05_p5.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. G. Bennett Stewart, 2003. "How To Fix Accounting—Measure And Report Economic Profit," Journal of Applied Corporate Finance, Morgan Stanley, vol. 15(3), pages 63-82, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Twinkle Prusty, 2013. "Corporate Governance through the EVA Tool: A Good Corporate Performance Driver," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 3(12), pages 340-348, December.
    2. Predrag Stančić & Miroslav Todorović & Milan Čupić, 2012. "Value-Based Management And Corporate Governance: A Study Of Serbian Corporations," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 57(193), pages 93-112, April- Ju.
    3. Mandeep Kaur & Sweety Narang, 2010. "EVA® Disclosures in the Annual Reports of Indian Companies," Global Business Review, International Management Institute, vol. 11(3), pages 395-420, October.
    4. Wolfgang Schultze & Andreas Weiler, 2007. "Performancemessung und Wertgenerierung: Entlohnung auf Basis des Residualen Ökonomischen Gewinns," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 18(2), pages 133-159, August.
    5. Diana Claudia Cozmiuc & Ioan Petri?or, 2020. "Value Based Management At Siemens €“ The Classic Example Remains," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(2), pages 32-50, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:viii:y:2005:i:3-4:p:79-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.