Pursuing shareholder value : comparing the information content of EVA and accounting earnings

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dc.contributor.advisorUliana, Enricoen_ZA
dc.contributor.authorGreen, Brendan Richarden_ZA
dc.date.accessioned2014-07-31T12:14:27Z
dc.date.available2014-07-31T12:14:27Z
dc.date.issued2000en_ZA
dc.descriptionBibliography: leaves 82-85.
dc.description.abstractThis study provides independent empirical evidence of the strength of the relationship between changes in shareholder value and various financial measures of corporate performance. The objective is to assess whether adopting the goal of maximising EV A, instead of accounting earnings, enables management to more effectively pursue shareholder value. Firstly, the ability of EVA and accounting earnings to explain contemporaneous annual share returns is assessed. This relative information content issue is tested on a sample of 758 company year-ends from 1991 to 1997. Results indicate that accounting earnings explains 26% of the variation in cumulative abnormal returns. The comparative figure for EVA is less than 12%. This suggests that accounting earnings tends to dominate EV A in its association with share returns.en_ZA
dc.identifier.apacitationGreen, B. R. (2000). <i>Pursuing shareholder value : comparing the information content of EVA and accounting earnings</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/5633en_ZA
dc.identifier.chicagocitationGreen, Brendan Richard. <i>"Pursuing shareholder value : comparing the information content of EVA and accounting earnings."</i> Thesis., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2000. http://hdl.handle.net/11427/5633en_ZA
dc.identifier.citationGreen, B. 2000. Pursuing shareholder value : comparing the information content of EVA and accounting earnings. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Green, Brendan Richard AB - This study provides independent empirical evidence of the strength of the relationship between changes in shareholder value and various financial measures of corporate performance. The objective is to assess whether adopting the goal of maximising EV A, instead of accounting earnings, enables management to more effectively pursue shareholder value. Firstly, the ability of EVA and accounting earnings to explain contemporaneous annual share returns is assessed. This relative information content issue is tested on a sample of 758 company year-ends from 1991 to 1997. Results indicate that accounting earnings explains 26% of the variation in cumulative abnormal returns. The comparative figure for EVA is less than 12%. This suggests that accounting earnings tends to dominate EV A in its association with share returns. DA - 2000 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2000 T1 - Pursuing shareholder value : comparing the information content of EVA and accounting earnings TI - Pursuing shareholder value : comparing the information content of EVA and accounting earnings UR - http://hdl.handle.net/11427/5633 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/5633
dc.identifier.vancouvercitationGreen BR. Pursuing shareholder value : comparing the information content of EVA and accounting earnings. [Thesis]. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2000 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/5633en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentCollege of Accountingen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherAccountingen_ZA
dc.titlePursuing shareholder value : comparing the information content of EVA and accounting earningsen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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