Most, if not all, management control tools were formulated for firms employing an industrial value creation logic (i.e., Ford, McDonald’s, and Wal-Mart). We argue that given the growth, both in number and importance, of firms employing a knowledge value creation logic (i.e., Accenture, Goldman...

In two articles, the first published in 1997 in the Journal of Accounting and Economics and the second in 1999 in this journal, Gary Biddle, Robert Bowen, and James Wallace presented evidence that reported earnings are more closely related than EVA to marketadjusted stock returns- in other...