Earticle

초록

영어

This study analyzed the usability of economic value added(EVA) as a company performance indicator by utilizing non-financial data of the stock market from 2000 to 2009. We investigated whether EVA provides useful information for MVA, which represents company performance from the executive's position, and for the average rate of return and excessive abnormal return, which represent performance from the investor's position. Analyses showed that EVA's explanation power for MVA is higher than other accounting performance indicators such as FCF, ROA and ROE, which revealed the fact that it is more valuable as a company performance indicator. Also, portfolios with positive EVA showed higher average rate of return and excessive abnormal return, which are performance indicators from the investor's position, than portfolios with negative EVA. During the analysis period, the rate of return and cumulative abnormal return(CAR) of portfolios with continuously positive EVA were higher. Therefore, it is judged that EVA provides useful information for MVA, the rate of return and CAR.

목차

Ⅰ. 서론
 Ⅱ. 선행연구
 Ⅲ. 가설 및 분석자료
 Ⅳ. 기술적 분석
 Ⅴ. 실증분석
 Ⅵ. 결론
 참고문헌
 Abstract

키워드

저자

• 남명수 [ Myung-soo Nam | 인하대학교 교수 ] 제1저자
• 곽용신 [ Yong-sin Kwak | 인하대학교 경영학과 박사과정 ] 교신저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330