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| eva economic value added: Economic Value Added for Competitive Advantage Saurabh Sri, 2019-01-15 Economic Value Added (EVA®) has been a much discussed concept that has assisted in the turnaround of a number of multinational enterprises across the world. It is based upon the theory of ‘economic profit’ that enables companies to capture and create wealth both for themselves and their stakeholders. The strategic decisions of performance and posturing can be grounded upon gaining competitive advantage through mapping economic profits. Existing studies on competitive advantage primarily discuss the meaning, definitions, and sources thereof. However, there are few contributions that discuss how competitive advantage can be measured specifically with respect to Indian companies. This book bridges that gap and advocates that the EVA® can be used to measure and establish the competitive advantage for Indian firms. It is based upon an in-depth study of such companies to explore the extent of use of EVA® in the top BT500 companies in India. It shows that the companies that use EVA® have a distinct competitive advantage over their competitors. |
| eva economic value added: The EVA Challenge Joel M. Stern, John S. Shiely, Irwin Ross, 2003-12-22 Economic Value Added - das EVA-Konzept - wurde von der Beratungsfirma Stern Stewart & Co. entwickelt. Es ist ein effektiver Maßstab zur Messung der finanziellen Performance eines Unternehmens und ist eng mit dem Shareholder-Value-Ansatz verbunden. Darüber hinaus kann mit Hilfe von EVA -Berechnungen auch eine Unternehmensbewertung durchgeführt werden; ein positiver EVA-Wert bedeutet einen Wertzuwachs, ein negativer hingegen einen Wertverlust. The EVA Challenge erläutert, wie man EVA implementiert - angefangen bei der Schulung von Angestellten bis hin zur Beantwortung und Lösung der häufigsten Implementierungsfragen und -probleme, denen Unternehmen begegnen. Diskutiert wird komplett neues Material zu 'real options', 'leveraged stock options' und anderen wichtigen Finanzkonzepte für Unternehmen der New und der Old Economy. Mit zahlreichen Fallbeispielen aus der Unternehmenspraxis. |
| eva economic value added: Damodaran on Valuation Aswath Damodaran, 2016-02-08 Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do. -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face. |
| eva economic value added: Foundations of Economic Value Added James L. Grant, 2003-05-05 An updated look at the role of economic profit analysis in the process of wealth creation Grant explains the pivotal role of economic value added (EVA) in the theory of finance, how to measure EVA with standard accounting adjustments, how to use EVA to value companies and their stock, and how to use economic profit principles to identify wealth-creating firms, industries, and even market economies. |
| eva economic value added: EVA and Value-Based Management: A Practical Guide to Implementation S. David Young, Stephen F. O'Byrne, 2000-12-13 Economic Value Added (EVA) and Value Based Management (VBM) are today’s hottest management buzzwords. But written information has often been biased and clouded by the authors’ hidden agendas. EVA and Value-Based Management is the first book to unflinchingly discuss the pros and cons of EVA and VBM. Covering both implementation and conceptual issues, with a strong emphasis on performance measurement, value drivers, and management compensation, it allows readers to come to their own informed conclusions. |
| eva economic value added: The Quest for Value G. Bennett Stewart, 1991-02-12 In this bestselling classic of financial management, G. Bennett Stewart, III, raises and answers these provocative questions: Do dividends matter? Are earnings per share really accurate measures of corporate performance? What is the engine that really drives share prices? More than that, Stewart lays the foundation for EVAr, the financial management and incentive system now in place at nearly 300 companies around the world, and which is rapidly becoming the global standard for corporate governance. Managers, confused about what investors really want, often find it difficult to reach informed decisions regarding business strategy, acquisitions and divestitures, financial structure, dividend policy, and executive compensation. But now an EVAr -based revolution is providing a practical framework that managers can use to build a premium-valued company. At the forefront of this revolution is the consulting firm of Stern Stewart & Co., of which G. Bennett Stewart, III, author of The Quest for Value, is senior partner and cofounder. The Quest for Value is written for senior management, key operating people, and planning and financial staff. This bible of financial management will assist managers in goal setting, resource allocation, strategy development, valuation of acquisitions, financial policy setting, incentive compensation planning, and building shareholder value. The Quest for Value cuts sharply through the myths that to this day misinform corporate strategists in their pursuit of shareholder value. Laying waste to inaccurate yet widely used methods of performance, Stewart demonstrates how the Stern Stewart EVAr approach not only creates greater shareholder value but also provides a powerful framework for the broadest range of corporate decision making. |
| eva economic value added: Best-Practice EVA Bennett Stewart, 2013-02-19 Best-Practice EVA tells the new EVA story from the ground up. Stewart covers EVA essentials—the classic economic profit version of EVA—in the first three chapters of the book. He shows readers how simple and intuitive EVA really is, how it is defined, and why it is better than all other measures of corporate profit. You discover how it naturally guides managers into making all the right decisions—the ones that will truly maximize value. You see how to use it in profit-sharing bonus plans that create the powerful incentives of an owner. Later, Stewart introduces new ratios that make EVA much more powerful and much easier to use than ever before. The pinnacle of the new ratio framework is EVA Momentum, calculated by taking the change in EVA versus the prior period, and dividing by the revenues in the prior period. It measures the growth rate in EVA, scaled to the sales size of the business. It is the only corporate performance ratio where bigger always is better, because it gets bigger when EVA does, which means it should be every company's most important financial goal, the one ratio metric that everyone aims to maximize as the key measure of corporate success. Stewart then walks through the nuts and bolts of Best-Practice EVA, kicking off with an in-depth look at EVA Margin, or EVA as a percent of sales. It’s a key productivity metric, and Stewart’s candidate to replace ROI. The last link in the Best-Practice program is PRVit—the EVA market score report. Stewart shows how to read and interpret the report, how the score is determined, and why investors are turning to it to screen and rate stocks. He also shows why it is finding a home with CFOs and IR directors who want insights into how the market is pricing their stock. The book concludes with battle-tested tips from the firing line, practical suggestions for how you can test drive and adopt Best-Practice EVA at your company. |
| eva economic value added: EVA Al Ehrbar, 1998-10-15 EVA (economic value added - wirtschaftliche Wertschöpfung) ist eine Maßeinheit zur Ermittlung des echten Finanzergebnisses eines Unternehmens und eine Strategie zur Schaffung von Unternehmens- und Aktionärsvermögen. Das EVA-Prinzip besagt, daß ein Unternehmen kein Vermögen schafft, solange es nicht in der Lage ist, Gewinne einzufahren, die höher sind als die Kapitalkosten. EVA ist auch eine Methode, die Prioritäten innerhalb eines Unternehmens so zu gewichten, daß das Hauptaugenmerk auf der Schaffung von Vermögen liegt, und zwar zum Nutzen aller. Leicht verständlich geschrieben, mit zahlreichen Fallbeispielen bekannter Firmen und einem Minimum an Gleichungen und Finanzjargon. (11/98) |
| eva economic value added: The EVA Challenge Joel M. Stern, John S. Shiely, Irwin Ross, 2002-10-23 The co-founder of EVA shows how to apply it in today's new economy EVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the shop floor. In The EVA Challenge, the authors outline how to implement EVA-from training employees to answering the most frequently encountered implementation problems faced by companies. This detailed how-to guide represents the second phase in the EVA Revolution, showing executives around the world how to customize and implement EVA at their companies. Here, EVA converts learn how to work some EVA magic through company-specific initiatives and case study examples. Coverage includes completely new materials on real options, leveraged stock options, and other concepts critical to corporations in both new and old economy industry sectors. |
| eva economic value added: Marketing And Management Sciences - Proceedings Of The International Conference On Icmms 2008 Damianos P Sakas, Nikolaos Konstantopoulos, 2010-01-20 This book is a collection of selected papers presented at the International Conference of Marketing and Management Sciences held from 23 to 25 May 2008 in Athens, Greece. The papers focus on how globalization has had significant impact on companies, societies and individuals alike. They discuss the need for new strategies and practices that can help cope with changes that arise due to globalization. Written in a simple manner, this book will be of interest to academics studying and teaching marketing and management courses and to managers dealing with strategies to cope with changes due to globalization./a |
| eva economic value added: The Value Mindset Erik Stern, Mike Hutchinson, 2011-09-07 A groundbreaking book on building long-term wealth for stakeholders As creator of the Wealth Added Index (WAI), Stern Stewart's Erik Stern has become a beacon for creating shareholder value within the current storm of corporate malfeasance and poor performance. The Value Mindset shows readers how to develop this way of thinking by blending individual manager incentives with the proper corporate structure and the willingness to pursue value discipline over the long term. Filled with practical concepts that have proved themselves in the real world, this book shows readers how they can transform a company into an organization that can deliver value and returns to its shareholders. The Value Mindset helps readers develop this mindset-as well as implement it-by detailing the metrics that are necessary for any manager to measure and monitor value creation within the firm. Erik Stern (London, UK) is a Senior Vice President at Stern Stewart & Co., based in London. He has designed and implemented programs for companies in several industries in the United States and Europe. Mike Hutchinson (London, UK) is a Vice President at Stern Stewart & Co., based in London. He worked previously for the BBC and the Consumers' Association. |
| eva economic value added: Valuation Approaches and Metrics Aswath Damodaran, 2005 Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries. |
| eva economic value added: Against the Grain Joel M. Stern, 2011-07-11 The unique story of a business heretic and his concept of Economic Value Added (EVA) In Against the Grain, Joel Stern shares for the first time, not only the story of how EVA swept the corporate world, but the story behind the story-the intellectual underpinnings of EVA, how he and his colleagues at Stern Stewart & Co. promoted the concept, won its initial acceptance by major corporations, and later turned the concept into a revolution. He has for good reason been called a one-man catalyst for change. In an engaging memoir, he has given us not only an account of his business strategy, but also provided fascinating anecdotes and vignettes of encounters with leading businessmen on four continents. Joel M. Stern (New York, NY) has been the Managing Partner of Stern Stewart & Co. since its founding in 1982 and was coauthor of The EVA Challenge (Wiley: 0-471-40555-8). A recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation, he is a leading advocate of the concept of shareholder value. Irwin Ross (New York, NY) was retained to write The EVA Challenge with Joel Stern and John Shiely. He is a former roving editor of Reader's Digest and over the years has written for Fortune and a variety of other magazines. |
| eva economic value added: Principles of Accounting Volume 2 - Managerial Accounting Mitchell Franklin, Patty Graybeal, Dixon Cooper, 2019-02-14 A less-expensive grayscale paperback version is available. Search for ISBN 9781680922936. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the why as well as the how aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization. |
| eva economic value added: Supply Chain Strategy and Financial Metrics Bram DeSmet, 2018-05-03 Supply Chain Strategy and Financial Metrics is a step-by-step guide to balancing the triangle of service, cost and cash which is the essence of supply chain management. Supply chains have become increasingly strategy-driven, and this Supply Chain Triangle approach puts the supply chain at the heart of the strategy discussion instead of seeing it as a result. Supply Chain Strategy and Financial Metrics fully reflects the 'inventory' or 'working capital' angle and examines the optimisation of the supply chain and Return on Capital Employed. Including case studies of Barco, Casio and a selection of food retail companies, this book covers building a strategy-driven KPI dashboard, target setting and financial benchmarking. Regular examples and diagrams illustrate how different types of strategies lead to different trade-offs in the Supply Chain Triangle. This ground-breaking text links supply chain, strategy and finance through financial metrics, therefore creating value for the shareholder. Online supporting resources include worksheets covering basic financial concepts such as cash flow and working capital, with example data sets and guidelines/exercises to make it interactive. |
| eva economic value added: Startup Valuation Roberto Moro-Visconti, 2021-04-17 This book offers a primer on the valuation of startups. Innovative startups are characterized by high growth potential that usually absorbs liquidity. This is unattractive for traditional banks, replaced by other specialized intermediaries such as venture capital or private equity funds, which diversify their portfolio basing their strategies on a multi-year exit. Startups coexist in an evolving ecosystem with established firms, to which they transfer innovativeness, technology, flexibility, and time-to-market speed, contributing to reinvent the business models and receiving from mature firms feedback on the current market features, the existing clients, and their unsatisfied needs. The valuation paradigms represent a central issue for any start-upper seeking external finance, either from family and friends or through a wider professional placement. This book, complemented by practical cases (concerning, for instance, FinTechs, digital platforms, and e-Health applications) offers a guide to practitioners, students, and academics about the trendy valuation patterns of the startups based on their strategic business planning |
| eva economic value added: The End of Accounting and the Path Forward for Investors and Managers Baruch Lev, Feng Gu, 2016-06-14 An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation. |
| eva economic value added: CFROI Valuation Bartley Madden, 1999-02-15 What generates shareholder value? How can it be evaluated? How can it influence investment decisions and corporate strategy? Cash Flow Return On Investment answers all these questions by detailing the pioneering financial research carried out by HOLT Value Associates, the leading consultancy in the field. Read this book if you want to find out what really drives the wealth generation in any business, allowing you to pick which equities will succeed and which strategic initiatives are destined for high returns. The CFROI model is an essential tool for professionals working in finance and corporate strategy. It clarifies how economic value is created in a firm and acts as a reliable guide to: * making investment decisions * taking key strategic decisions * understanding economic value Shows how to judge and compare individual equities across markets and company sectorsCutting edge theory and practiceThe leading book about shareholder value authored by one of the world's leading consultancies in the field |
| eva economic value added: Value-Based Metrics Frank J. Fabozzi, James L. Grant, 2000-06-15 Investors, shareholders, and corporate leaders looking for an edge in today's New Economy are moving beyond traditional accounting yardsticks toward new means of gauging performance and profitability. An increasing number of Wall Street analysts and corporate boards are adopting value-based metrics such as EVA, MVA, and CFROI as a measure of a firm's profitability because these standards adjust for all of the firm's cost of capital - equity as well as debt. James Grant tackled the issue of economic value added in its infancy with Foundations of Economic Value Added - one of the first primers on the topic, endorsed by its creator, G. Bennett Stewart. Now, in Value Based Metrics: Foundations and Practice, he and Frank Fabozzi head a team of some of the leading proponents of value based metrics on both the investment management side and the corporate side. This comprehensive reference outlines how corporations and analysts can use value based metrics to more accurately measure the financial performance of individual companies, industries, and economies, as well as how to get an edge in today's turbulent market. |
| eva economic value added: Economic Value Added . Drivers and Leverages Dirian El Amine, 2013-09 Project Report from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: 1,5, University of Cooperative Education Stuttgart; Horb, language: English, abstract: From the contemporary dominance of the shareholder value approach arises more and more the necessity to precisely detect its performance as shareholder value is broadly seen as a significant indicator determining a company's success or failure. However, measuring the performance of a company's shareholder value can be very challenging. Hence, the purpose of this paper is to deal with a well-known approach that enables businesses to detect its shareholder value performance: Economic Value Added (EVA). The thesis discusses the correlation between EVA and shareholder value, it further outlines its main drivers. In the second part, the paper elaborates on the specific links of the EVA approach to a regional Sales department and identifies the department's main leverages on EVA. In order to detect the influence of the main operative decisions on EVA, the thesis introduces the key figure Effect-on-EVA. The applicability of Effect-on-EVA is shown in a model calculation. Above all, this project thesis shall create a profound practical value by sharpening the awareness of how to influence EVA in a positive way. In order to meet the recommended scope, the paper does not elaborate Asset Management, Accounts Receivable Management and Incentive Compensation in detail, but strives to point out the respective links to EVA. |
| eva economic value added: New Trends in Finance and Accounting David Procházka, 2016-12-25 This book presents the most current trends in the field of finance and accounting from an international perspective. Featuring contributions presented at the 17th Annual Conference on Finance and Accounting at the University of Economics in Prague, this title provides a mix of research methods used to uncover the hidden consequences of accounting convergence in the private (IFRS) and public sectors (IPSAS). Topics covered include international taxation (from both the micro- and macroeconomic level), international investment, monetary economics, risk management, management accounting, auditing, investment capital, corporate finance and banking, among others. The global business environment shapes the international financial flows of finance and the demand for international harmonization of accounting. As such, the field of global finance and accounting has encountered some new challenges. For example, policy-makers and regulators are forced to restructure their tools to tackle with new features of trading at global capital markets and international investment. This book complements this global view of development with country-specific studies, focusing on emerging and transitioning economies, which are affected indirectly and in unforeseen ways. The combination of global perspective and local specifics makes this volume attractive and useful to academics, researchers, regulators and policy-makers in the field of finance and accounting. |
| eva economic value added: Proceedings of the 28th International Symposium on Mine Planning and Equipment Selection - MPES 2019 Erkan Topal, 2019-11-29 This conference proceedings presents the research papers in the field of mine planning and mining equipment including themes such as mine automation, rock mechanics, drilling, blasting, tunnelling and excavation engineering. The papers presents the recent advancement and the application of a range of technologies in the field of mining industry. It is of interest to the professionals who practice in mineral industry including but not limited to engineers, consultants, managers, academics, scientist, and government staff. |
| eva economic value added: Strategy Beyond the Hockey Stick Chris Bradley, Martin Hirt, Sven Smit, 2018-02-06 Beat the odds with a bold strategy from McKinsey & Company Every once in a while, a genuinely fresh approach to business strategy appears —legendary business professor Richard Rumelt, UCLA McKinsey & Company's newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies. Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy's real odds of future success. This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development. —Frans Van Houten, CEO, Royal Philips N.V. The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company's current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition. This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia. A different kind of book—I couldn't put it down. Inspiring new insights on the facts of what it takes to move a company's performance, combined with practical advice on how to deal with real-life dynamics in management teams. —Jane Fraser, CEO, Citigroup Latin America |
| eva economic value added: Hypercompetition Richard A. D'aveni, 2010-05-11 General Motors and IBM have been battered to their cores. Jack Welch, the chairman of General Electric, called the frenzied competition of the 1980's a white knuckle decade and said the 1990s would be worse. In this pathbreaking book that will define this new age of hypercompetition, Richard D'Aveni reveals how competitive moves and countermoves escalate with such ferocity today that the traditional sources of competitive advantage can no longer be sustained. To compete in this dynamic environment, D'Aveni argues that a company must fundamentally shift its strategic focus. He constructs a brilliant operational model that shows how firms move up escalation ladders as advantage is continually created, eroded, destroyed, and recreated through strategic maneuvering in four arenas of competition. Using this Four Arena analysis, D'Aveni explains how competitors engage in a struggle for control by seeking leadership in the arenas of price and quality, timing and know-how, stronghold creation/invasion, and deep pockets. Winners set the pace in each of these four competitive battlegrounds. Using hundreds of detailed examples from hypercompetitive industries such as computers, software, automobiles, airlines, pharmaceuticals, toys and soft drinks, D'Avenie demonstrates how hypercompetitive firms succeed in dynamic markets by disrupting the status quo and creating a continuous series of temporary advantages. They seize the initiative, D'Aveni explains, by employing a set of strategies he calls the New 7-S's Superior Stakeholder Satisfaction, Strategic Soothsaying, Speed, Surprise, Shifting the Rules of Competition, Signaling Strategic Intent, and Simultaneous and Sequential Thrusts. Paradoxically, firms must destroy their competitive advantages to gain advantage, D'Aveni shows. Long-term success depends not on sustaining an advantage through a static, long-term strategy, but instead on formulating a dynamic strategy for the creating, destruction, and recreation of short-term advantages. America must embrace the new reality of hypercompetition, D'Aveni concludes in a compelling analysis of the potential chilling effect of American antitrust laws on competitiveness. This masterful book, essentially an operating manual of strategy and tactics for a new era, will be required reading for managers, planners, consultants, academics, and students of hypercompetitive industries. |
| eva economic value added: Address Book Rose White, 2019-09-24 Bespoke, personalised address book. 104 Pages - 4 for each letter of the alphabet. If you would like one of our books personalised, please contact us BEFORE you place an order - there is a small fee for creating your artwork. Information on all our products and personalisation can be found on our Facebook page. |
| eva economic value added: Global Encyclopedia of Public Administration, Public Policy, and Governance Ali Farazmand, 2023-04-05 This global encyclopedic work serves as a comprehensive collection of global scholarship regarding the vast fields of public administration, public policy, governance, and management. Written and edited by leading international scholars and practitioners, this exhaustive resource covers all areas of the above fields and their numerous subfields of study. In keeping with the multidisciplinary spirit of these fields and subfields, the entries make use of various theoretical, empirical, analytical, practical, and methodological bases of knowledge. Expanded and updated, the second edition includes over a thousand of new entries representing the most current research in public administration, public policy, governance, nonprofit and nongovernmental organizations, and management covering such important sub-areas as: 1. organization theory, behavior, change and development; 2. administrative theory and practice; 3. Bureaucracy; 4. public budgeting and financial management; 5. public economy and public management 6. public personnel administration and labor-management relations; 7. crisis and emergency management; 8. institutional theory and public administration; 9. law and regulations; 10. ethics and accountability; 11. public governance and private governance; 12. Nonprofit management and nongovernmental organizations; 13. Social, health, and environmental policy areas; 14. pandemic and crisis management; 15. administrative and governance reforms; 16. comparative public administration and governance; 17. globalization and international issues; 18. performance management; 19. geographical areas of the world with country-focused entries like Japan, China, Latin America, Europe, Asia, Africa, the Middle East, Russia and Eastern Europe, North America; and 20. a lot more. Relevant to professionals, experts, scholars, general readers, researchers, policy makers and manger, and students worldwide, this work will serve as the most viable global reference source for those looking for an introduction and advance knowledge to the field. |
| eva economic value added: Equity Valuation Peter O. Christensen, Gerald A. Feltham, 2009 We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm's cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice, interest rates, expected equity returns, and inflation rates are all stochastic. We explicitly characterize the risk-adjustments to the fundamentals in an equilibrium setting. We show how the term structure of risk-adjustments depends on both the time-series properties of the free cash flows and the accounting policy. Growth, persistence, and mean reversion of residual operating income created by competition in the product markets or by the accounting policy are key determinants of the term structure of risk-adjustments. |
| eva economic value added: Keeping Score Mark Graham Brown, 1996 Every quality-conscious organization needs to measure critical data, but many businesses waste time tracking and reviewing non-essentials. This innovative book shows how to concentrate on the few key measures that indicate a firm's true performance. It focuses on the areas considered vital in the Baldrige Quality Award criteria, the premiere model for evaluating overall quality. Readers will learn to select and use the right metrics for measuring financial, operational, and quality efforts, as well as longer-term measures such as customer and employee satisfaction, supplier performance, product/service quality, and environmental compliance. This guide will help them: * evaluate their current approaches to measurement * select the right metrics * collect and report data more efficiently and usefully * use the information to promote teamwork and strategy |
| eva economic value added: Financial Research and Management Decisions Alexander A. Robichek, 1965 |
| eva economic value added: Handbook of Globalization, Governance, and Public Administration Ali Farazmand, Jack Pinkowski, 2006-07-25 Globalization transcends borders and cultures as it develops both from the natural flow of information and communication technologies and as a directed and driven quest for global hegemony by self-serving corporations and world political heavyweights. It bears a multifaceted web of influence that manifests in inequalities in growth, prosperity, and |
| eva economic value added: Valuation McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels, 2020-05-21 McKinsey & Company's bestselling guide to teaching corporate valuation - the fully updated seventh edition Valuation: Measuring and Managing the Value of Companies, University Edition is filled with the expert guidance from McKinsey & Company that students and professors have come to rely on for over nearly three decades. Now in its seventh edition, this acclaimed volume continues to help financial professionals and students around the world gain a deep understanding of valuation and help their companies create, manage, and maximize economic value for their shareholders. This latest edition has been carefully revised and updated throughout, and includes new insights on topics such as digital, ESG (environmental, social and governance), and long-term investing, as well as fresh case studies. For thirty years, Valuation has remained true to its basic principles and continues to offer a step-by-step approach to teaching valuation fundamentals, including: Analyzing historical performance Forecasting performance Estimating the cost of capital Interpreting the results of a valuation in context Linking a company's valuation multiples to core performance drivers The University Edition contains end-of-chapter review questions to help students master key concepts from the book. Wiley also offers an Online Instructor's Manual with a full suite of learning resources to complement valuation classroom instruction. |
| eva economic value added: International Convergence of Capital Measurement and Capital Standards , 2004 |
| eva economic value added: Valuation Methods and Shareholder Value Creation Pablo Fernandez, 2002-08-30 This text provides a catalogue of valuation tools, together with guidance on analyzing and valuing a business. The author breaks down the topic to provide advice for any business, no matter how complex. He presents eight different methods of firm valuation and discusses the benefits and limitations of each method, supporting this information with examples from international markets. |
| eva economic value added: Foundations of Economic Value Added James L. Grant, 2003-05-13 An updated look at the role of economic profit analysis in the process of wealth creation Grant explains the pivotal role of economic value added (EVA) in the theory of finance, how to measure EVA with standard accounting adjustments, how to use EVA to value companies and their stock, and how to use economic profit principles to identify wealth-creating firms, industries, and even market economies. |
| eva economic value added: Trickle-Up Economics William Spaulding, 2019-11-18 Is utopia possible? Maybe not a perfect society, but is it possible to maximize the happiness of society? This book proposes that it is, indeed, possible to, at least, greatly improve the happiness of society by structuring the tax code according to 2 very simple economic principles that anyone can understand. It will greatly reduce inequality and give most people a much better start in life. Economic output can also be increased by changing the tax code to promote work.This book explains the history of wealth creation, and why the wealthy are rich. It also debunks the many arguments used to promote tax breaks for the wealthy.If this tax policy could be enacted, it would end economic slavery, and show how the world could potentially live in peace! This book also suggests a much better way to vote so that better policies can be implemented, thus reducing the influence of money and corruption in politics. |
| eva economic value added: Value Based Management John D. Martin, J. William Petty, 2000 The corporate world's comeback to shareholder revolt, value based management refers to tools that financial managers can use to plan, monitor, and control a firm's operations in ways that enhance shareholder value. This timely book provides the first objective, field-tested synthesis of the most popular models in use today. |
| eva economic value added: Value Imperative James M. Mctaggart, Peter W. Kontes, Michael C. Mankins, 1994-03-28 Moving beyond the strategies that managers have employed to create shareholder value, three corporate finance experts reveal their powerful framework for the systematic day-to-day management of shareholder value. They also dispel many of the value myths that can skew a company's strategy. |
| eva economic value added: Managerial Accounting Kurt Heisinger, Joe Hoyle, 2014 |
| eva economic value added: Administrative Reform in Developing Nations Ali Farazmand, 2002 Under pressure from the World Bank, the International Monetary Funds and the World Trade Organization governments of both industrialized and less developed nations have undertaken extensive reforms and reorganization to streamline their public sectors. This volume, with chapters written by authorities from around the world, provides information on administrative reform in varied nations. Following an introduction, which sets a theoretical framework, the book contains sections devoted to Asia, the Near/Middle East, Africa, and a comparison of East/South Europe and Asia. Administrative reform has become a widespread challenge to national and sub-national governments around the globe. Under pressure from the World Bank, the International Monetary Funds and the World Trade Organization governments of both industrialized and less developed nations have undertaken extensive reforms and reorganization to streamline their public sectors. This volume, with chapters written by authorities from around the world, provides information on administrative reform in varied nations. Developing nations face acute problems on a daily basis, making administrative reform an essential function of public administration. With chapters devoted to experiences in such nations as Korea, India, Iran, Turkey, the Arab States, Nigeria, and South Africa, this volume sheds valuable light on administrative reform in developing countries and provides lessons for future policy actions. |
| eva economic value added: The relevance of Discounted Cash Flow (DCF) and Economic Value Added (EVA) for the valuation of banks Dennis Schön, 2004-07-28 Bachelor Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,3 (A), Northumbria University (Newcastle Business School), language: English, abstract: This study investigates the underlying theories and assumptions of two modern capital market-based valuation approaches, the Discounted-Cash-Flow (DCF) and the Economic-Value-Added (EVA) approach, which are nowadays applied principally for industrial and manufacturing firms. This general examination is then transferred into a more specific investigation exploring whether these valuation concepts can be applied to the strongly regulated and more specific field of bank valuation. A questionnaire addressing bank analysts was created to analyse this question. The project indicates that the ideas of shareholder value which have been enforced over the last decade have implemented the need for a more shareholder-focused valuation. The application of DCF is basically attributed to this movement. It is revealed that this concept uses cash flow streams which depict a more realistic picture of an organization’s true earning power. Moreover, it employs a discount rate based on the capital market and thus reflecting the yield expectations of the investors. EVA, on the other hand is a relatively new concept, copyrighted in 1994 by Stern Stewart. It highlights an organization’s true economic profits. The study examines its components NOPAT, Capital and Cost of Capital, establishes a relation to DCF, points out some general limitations due to the fact that it falls back on accounting figures and critically assesses its dependence on the CAPM whose inherent assumptions of efficient markets that are not transferable into reality, might affect the valuation. The primary research undertaken finally reveals that the concepts of DCF and EVA are basically suitable to be applied to the valuation of banks. However, there are some peculiarities, primarily due to difficulties associated with the definition and measurement of debt and reinvestments which make slight adjustments in the valuation process indispensable. Nevertheless, the end result is just as effective as in other industries. |
如何解读《EVA》？ - 知乎
而eva里的铠甲都是为了约束eva力量的拘束器，所以我们经常能看到一台eva是打不过使徒的，得多台才行。 后面EVA初号机吃了第十四使徒的S2机关，获得了自我再生的能力，因此初号机 …
EVA为什么叫新世纪福音战士? - 知乎
eva是圣经里夏娃的意思？ 反正eva有很多鬼扯宗教但又乱七八糟只是看着爽的东西；福音也是圣经里的概念。eva里的中心是 死海文书 ，在剧情里相当于新被发现的 福音书 。 新世纪的话， …
想要补新世纪福音战士（EVA），应该按什么顺序? - 知乎
《新世纪福音战士eva-fans 2005重制版》一直在网上流产，但其并非官方发行，而是“eva-fans”字幕组在2005年重新制作的版本。 （个人建议：重制版可看可不看） 2007新剧场版. 2007年《 …
《新世纪福音战士》的观看顺序到底是什么？ - 知乎
我百度了好多顺序，可还是一头雾水，各说各话，众说纷纭，而且很多都用了一些专有名词，对于我这种小白来…
TV动画《新世纪福音战士》（EVA）是在什么样的时代背景下创作 …
eva改变了那个时候日本社会对otaku族的敌视状况, 让一大批成年人喜爱上动漫, 日本动漫由此走出低谷，可以说eva就是为了展现御宅族内心而创作的。 1995年3月20日发生的东京地铁沙林毒 …
关于EVA的几个版本，都是什么意思啊？ - 知乎
这可以说是eva的第二个版本。 eoe上映后，eva的故事暂时告一段落。这段时间中，2003年对tv版做了一些润色，主要把20集以后一路狂奔的剧情变得协调了一些，称为重制版。重制版算不上 …
拖鞋是EVA的好还是PVC的材质好？ - 知乎
关键词：eva拖鞋、pvc拖鞋. eva拖鞋的制作材料是：乙烯（e）和乙酸乙烯（va）共聚。 pvc拖鞋的制作材料是：pvc（聚氯乙烯）、增塑剂、发泡剂和其他助剂。 它们的优点： eva拖鞋优 …
动画《EVA》有没有什么好看的全面屏壁纸？ - 知乎
May 6, 2021 · 知乎，中文互联网高质量的问答社区和创作者聚集的原创内容平台，于 2011 年 1 月正式上线，以「让人们更好的分享知识、经验和见解，找到自己的解答」为品牌使命。知乎凭 …
eva到底讲了一个什么故事？ - 知乎
Nov 17, 2012 · 知乎，中文互联网高质量的问答社区和创作者聚集的原创内容平台，于 2011 年 1 月正式上线，以「让人们更好的分享知识、经验和见解，找到自己的解答」为品牌使命。知乎 …
EVA里的使徒到底是什么？为什么有13个?为什么必须要到地下找那 …
因为发动了仪式，所以莉莉丝的位置也暴露了，人类把还在睡觉的莉莉丝挖出来，眼看距离莉莉丝睡醒还有十几年，但人类却没法直接与莉莉丝融合，必须要以使徒为媒介（驾驶eva或者把亚 …
如何解读《EVA》？ - 知乎
而eva里的铠甲都是为了约束eva力量的拘束器，所以我们经常能看到一台eva是打不过使徒的，得多台才行。 后面EVA初号机吃了第十四使徒的S2机关，获得了自我再生的能力，因此初号机 …
EVA为什么叫新世纪福音战士? - 知乎
eva是圣经里夏娃的意思？ 反正eva有很多鬼扯宗教但又乱七八糟只是看着爽的东西；福音也是圣经里的概念。eva里的中心是 死海文书 ，在剧情里相当于新被发现的 福音书 。 新世纪的话， …
想要补新世纪福音战士（EVA），应该按什么顺序? - 知乎
《新世纪福音战士eva-fans 2005重制版》一直在网上流产，但其并非官方发行，而是“eva-fans”字幕组在2005年重新制作的版本。 （个人建议：重制版可看可不看） 2007新剧场版. 2007年《 …
《新世纪福音战士》的观看顺序到底是什么？ - 知乎
我百度了好多顺序，可还是一头雾水，各说各话，众说纷纭，而且很多都用了一些专有名词，对于我这种小白来…
TV动画《新世纪福音战士》（EVA）是在什么样的时代背景下创 …
eva改变了那个时候日本社会对otaku族的敌视状况, 让一大批成年人喜爱上动漫, 日本动漫由此走出低谷，可以说eva就是为了展现御宅族内心而创作的。 1995年3月20日发生的东京地铁沙林毒 …
关于EVA的几个版本，都是什么意思啊？ - 知乎
这可以说是eva的第二个版本。 eoe上映后，eva的故事暂时告一段落。这段时间中，2003年对tv版做了一些润色，主要把20集以后一路狂奔的剧情变得协调了一些，称为重制版。重制版算不上 …
拖鞋是EVA的好还是PVC的材质好？ - 知乎
关键词：eva拖鞋、pvc拖鞋. eva拖鞋的制作材料是：乙烯（e）和乙酸乙烯（va）共聚。 pvc拖鞋的制作材料是：pvc（聚氯乙烯）、增塑剂、发泡剂和其他助剂。 它们的优点： eva拖鞋优 …
动画《EVA》有没有什么好看的全面屏壁纸？ - 知乎
May 6, 2021 · 知乎，中文互联网高质量的问答社区和创作者聚集的原创内容平台，于 2011 年 1 月正式上线，以「让人们更好的分享知识、经验和见解，找到自己的解答」为品牌使命。知乎凭 …
eva到底讲了一个什么故事？ - 知乎
Nov 17, 2012 · 知乎，中文互联网高质量的问答社区和创作者聚集的原创内容平台，于 2011 年 1 月正式上线，以「让人们更好的分享知识、经验和见解，找到自己的解答」为品牌使命。知乎凭 …
EVA里的使徒到底是什么？为什么有13个?为什么必须要到地下找 …
因为发动了仪式，所以莉莉丝的位置也暴露了，人类把还在睡觉的莉莉丝挖出来，眼看距离莉莉丝睡醒还有十几年，但人类却没法直接与莉莉丝融合，必须要以使徒为媒介（驾驶eva或者把亚 …
