scholarly journals Zwiększanie zaangażowania kapitałowego w spółce zależnej a wartość godziwa

2015 ◽  
pp. 143-153
Author(s):  
Paweł Kosiń
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Fair Value ◽  
Economic Value Added ◽  
Financial Leverage ◽  
Network Connections ◽  
First Case

This article is given to economic units, which realize their vision of growth basing on capital group and network connections conceptions. Assets of subsidiary companies are shown as a long term investments in balances. Their value may be expressed, according to the valid regulations, as a fair value. The capital involvement growth in the subsidiary company has to consider several conditions of valuations principles, in accordance with shareholder management criteria. The analysis of the subsidiary company equity increase consequences in holder’s reports is the key problem. Two different situations have been taken into account in this article: the capital involvement growth without total equity increase (it means, by the takeover of other partners shares) and the involvement by new shares emission. In the first case, the network reconfigurations consequences on the field of economic value added creating ability are most important. In the second mentioned case, the profits balance between improvement of risk estimations of subsidiary company and the effects of the degree of financial leverage is treated as an essential criterion.

scholarly journals Liquidity and the Performance of the Nigerian Manufacturing Firms: an Economic Value-added Approach

2021 ◽  
Vol 17 ◽  
pp. 47-55
Author(s):  
Olusegun Osho ◽  
Alexander Ehimare Omankhanlen ◽  
Mojisola Fasanmi ◽  
Victoria Akinjare
Keyword(s):  
Manufacturing Industry ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Economic Sectors ◽  
Manufacturing Firm ◽  
Development Indicators ◽  
And Performance ◽  
The Impact

Considering the possibility of finding a gap and a room for improvement, so much have been written about liquidity and performance. Notwithstanding, the emphasis has been on profitability as a yardstick for performance and little has been done on other areas of performance measurement. The emphasis has also been more on various economic sectors with the exception of the manufacturing industry. This paper intends to look at the impact, if any, of liquidity provision and availability on Nigeria’s manufacturing firm’s performance from the perspective of Economic Value Added (EVA). Economic value-adding is beyond just profitability or liquidity. The firm's value to the stakeholders, its sustainability and long-term values are defined. The study would apply liquidity theories, profitability and the economic value-added theories as it applies to a manufacturing firm in a developing economy like Nigeria. On its methodology, the article data is obtained from the World Bank’s World Development Indicators-WDI and then a regression analysis will be run on the data using the SPSS software and then an analysis of the results of the regression. The last section of the article would conclude and make recommendations from the study outcome and the empirical analysis with respect to the theories.

EVA Financial Management at Godrej Consumer Products Ltd

2010 ◽  
Vol 14 (01) ◽  
pp. 31-61 ◽  
Author(s):  
S. R. Vishwanath
Keyword(s):  
Financial Management ◽  
Shareholder Value ◽  
Economic Value ◽  
Value Added ◽  
Consumer Products ◽  
Economic Value Added ◽  
Incentive Program ◽  
Long Run

Adi Godrej, the chairman of Godrej group, has introduced an Economic Value Added (EVA) program to focus the company on long term shareholder value. The EVA program consists of three elements: EVA centers, EVA drivers and an EVA-based incentive program. The program has been successful in the initial years. The decision focus of the case is whether the program has indeed been successful in achieving its objectives in the long run.

scholarly journals DOES EVA TRULY REFLECT THE PERFORMANCE OF PROPERTY COMPANIES IN CHINA?

2015 ◽  
Vol 19 (3) ◽  
pp. 260-270
Author(s):  
Eddie C. M. HUI ◽  
Yunzhi Orange GAO ◽  
Ka Kwan Kevin CHAN
Keyword(s):  
Emerging Markets ◽  
Emerging Economies ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Future Studies ◽  
Property Companies ◽  
The World ◽  
Privately Owned

This study investigates the economic value added (EVA) of 18 major Chinese property companies from 2006 to 2012. We categorize the companies in two ways: 1) companies concentrating on property vs multi-functional companies and 2) state-owned enterprises (SOEs) vs privately-owned enterprises (POEs). We find that on average, the mainland property companies experienced a negative EVA during the period 2006–2012. This is due to the companies undertaking long-term projects, and the companies do not recognize capital gain from property appreciation as income. Hence the EVA of the companies is, in fact, understated. The results also reveal that POEs outperform SOEs in terms of EVA. This reflects the inefficiency of SOEs. This research has two important implications to investors. Firstly, besides looking at the EVA of the companies, investors should also understand the nature of businesses of the companies thoroughly. Secondly, investors investing in emerging markets like China should have a thorough understanding of their market characteristics. This study can act as a reference for future studies in EVA of property companies in other emerging economies in the world.

scholarly journals The long-term effect of economic value added adoption on the firm’s business decision

2019 ◽  
Vol 32 (3) ◽  
pp. 496-513
Author(s):  
Cherif Guermat ◽  
Ismail U. Misirlioglu ◽  
Ahmed M. Al-Omush
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Shareholder Wealth ◽  
Corporate Management ◽  
Economic Value Added ◽  
Long Term Effects ◽  
Business Decision ◽  
Content Type ◽  
Study Results

Purpose This study aims to examine the long-term effects of adopting economic value added (EVA) as a compensation tool on managers’ behaviour. Design/methodology/approach The authors extend the sample used in prior studies both in the time and the cross-section dimensions. Findings The study conclusions are distinct from those offered by existing studies. The authors show that EVA adopters, relative to non-EVA adopters, increase the working capital cycle, use their assets less intensively and decrease their payouts to shareholders via a decrease in dividends and share repurchases. In investing decisions, the authors find a decrease in new investments, but no change in asset dispositions after the adoption of EVA compensation plans. Originality/value The study results highlight that the EVA adoption provides more incentives to reduce the total cost for capital rather than increasing operations and maximising shareholder wealth. The results also have implication for corporate management, particularly in the area of management compensation scheme design.

Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Pada Nilai Perusahaan

2011 ◽  
Vol 3 (2) ◽  
pp. 1-19
Author(s):  
Chermian Eforis ◽  
Rosita Suryaningsih
Keyword(s):  
Corporate Social Responsibility ◽  
Annual Report ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Simple Regression

This study aims to determine the influence of the level of CSR disclosure in annual report to corporate values that proxies with Economic Value Added (EVA) and Market Value Added (MVA).   The objects of this study are companies that were included in Kompas 100 Edition of the second review in 2010.The chosen model of this research is simple regression which can be defined as a model that used the normal probability plot  for data normality test, DurbinWatson test for autocorrelation, graph plots to test heteroscedasticity, and saw the value of tolerance and VIF for multicollinearity test. Hypothesis is analyzed using simple regression method  The results showed that the level of CSR disclosure contained in the annual report has a significant influence on the EVA. The same results were also found on the MVA, where the level of CSR disclosure contained in the annual report has a significant influence on the MVA. Key words: Corporate Social Responsibility, Economic Value Added, Market Value Added

KOMPARASI KINERJA KEUANGAN MELALUI PENDEKATAN ECONOMIC VALUE ADDED (EVA) PADA PERUSAHAAN TRANSPORTASI DI JAKARTA

2018 ◽  
Vol 3 ◽  
pp. 223-232
Author(s):  
Dwi Urip Wardoyo
Keyword(s):  
Financial Performance ◽  
Service Industry ◽  
Economic Value ◽  
Value Added ◽  
Added Value ◽  
Economic Value Added ◽  
Test Analysis ◽  
Transportation Service ◽  
Income Statement

This study aims to compare financial performance through profitability generated by two market participants in the witness transportation service industry in Jakarta, namely PT. BB compared to PT. ETU, this assessment is measured not limited to the profit generated but more than that by measuring financial added value through the concept of Eonomic Value Added produced by the two companies. The population in this study were all taxi transportation service companies in Jakarta. The sampling method selected two taxi companies that have the largest market share in DKI Jakarta, namely BB Taxi and ETU Taxi. The test analysis used in this study is ratio analysis through profit calculation and economic added value from the annual income statement. This study shows that there are (a) determination of the ratio of profit levels, (b) Determination of the comparison of economic value added of the two companies. Keywords :  Financial performance, Economic Value Added (EVA)

LA FUSIÓN CARULLA-VIVERO, ¿CREÓ VALOR?

2014 ◽  
Vol 5 (10) ◽  
pp. 93
Author(s):  
Andrés Villegas Cortés ◽  
Luz Ángela Rojas La Rota
Keyword(s):  
Average Cost ◽  
Cost Of Capital ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
Economic Value Added ◽  
Estudio De Caso

El presente trabajo busca determinar si la fusión de las empresas Carulla-Vivero ocurrida en el año 2000 generó valor. Para esto, se estudia el conceptode valor, posteriormente se explica el estudio de caso como metodología deinvestigación para concluir con la exposición del caso mismo de la fusión, ysu resultado. Una vez realizado el análisis de las dos empresas, se hace unacomparación y una valoración por dos metodologías ampliamente aceptadas:los métodos Economic Value Added (EVA) - Weighted Average Cost of Capital(WACC) y Flujo de Caja Histórico, con lo cual se explora en su interior la fusióny se explican los resultados obtenidos en ella. Finalmente, se hace una seriede observaciones, conclusiones y recomendaciones sobre la fusión, asícomo de la metodología del estudio de caso, para el abordaje de temas de laadministración.

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