Lee, B. Brian; Choi, Byeonghee; Kanaan, George - In: Global Business and Economics Review 6 (2004) 1, pp. 134-148
We examine whether or not the value relevant information of EVA is fully incorporated in stock prices by constructing trading strategies using signs of changes in both earnings and EVA. The portfolio of stocks with negative changes in earnings coupled with positive changes in EVA yields higher...