Trading Strategy on EVA and MVA : Are They Reliable Indicators of Future Stock Performance?

The usefulness of economic value added (EVA) in forecasting stock performance has been widely debated, and there is much disagreement. This paper examines empirically whether a high adjusted EVA, both scaled by market capitalization, can produce excess stock returns. We find that the risk-adjusted return of the high EVA stocks is greater than of the low EVA stocks, but not statistically significant

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Year of publication:	2016
Authors:	Ferguson, Robert
Other Persons:	Rentzler, Joel (contributor) ; Yu, Susana (contributor)
Publisher:	[2016]: [S.l.] : SSRN
Subject:	Betriebliche Kennzahl \| Financial ratio \| Unternehmenserfolg \| Firm performance \| Betriebliche Wertschöpfung \| Value creation

Extent:	1 Online-Ressource (7 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Investing, Vol. 3, No. 4, 2006 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 27, 2016 erstellt
Classification:	G10 - General Financial Markets. General ; G11 - Portfolio Choice ; G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012997966