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Beneficio económico, EVA y creación de valor de empresas españolas (1991-1997)

Listed author(s):
  • Fernandez, Pablo


    (IESE Business School)

En este documento de investigación se analiza la relación de la creación de valor para los accionistas con varios parámetros, entre otros, el beneficio económico y el EVA. El período analizado ha sido 1991-1997. Se han tomado 30 empresas españolas de las que componen habitualmente el IBEX-35 y que cotizan desde 1991. Las 30 empresas formaban parte del IBEX-35 en junio de 1998. La capitalización de las 30 empresas analizadas era, a 30 de junio de 1998, de 36,5 billones de pesetas (92,55% de la capitalización total del IBEX-35). La conclusión fundamental de este análisis es que el EVA no es la magnitud que tuvo mayor correlación con la creación de valor para los accionistas. El beneficio económico y varias magnitudes más tuvieron mayor correlación con la creación de valor para los accionistas que el EVA, aunque el beneficio económico no fue el que tuvo mayor correlación.

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Paper provided by IESE Business School in its series IESE Research Papers with number D/384.

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Length: 137 pages
Date of creation: 23 Apr 1999
Handle: RePEc:ebg:iesewp:d-0384
Contact details of provider: Postal:
IESE Business School, Av Pearson 21, 08034 Barcelona, SPAIN

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