Fernandez, Pablo; Villanueva, Alvaro - IESE Business School, Universidad de Navarra - 2004
2003 was a good year for the shareholders of the companies in the Euro Stoxx 50: the shareholder value creation of …,778 million), Telefonica (15,382) and BSCH (12,443). The companies that destroyed most shareholder value were Nokia (-€12 …,051 million), L'Oreal (-8,089) and Ahold (-5,427). None of the Spanish companies in the Euro Stoxx 50 destroyed shareholder value …