Abstract
Substantial pressure to maximize shareholder wealth compels firms to adopt a valuebased management system. As centerpiece of such a system, a value-based performance measure quantifies periodic value addition for shareholders. Prevalent value-based measures imply distortions from accounting depreciation and empirical evidence on prevailing measures is somewhat biased. Consequently, this study aims to develop depreciation-adjusted performance measures and to provide empirical evidence on prevailing and newly introduced measures. Specifically, this study concludes examining the relationship between bottom-line accounting measures of corporate performance with stock prices. However, in a broader sense, it also relates to strategic management and key drivers and dynamics of capital markets.
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© 2009 Gabler | GWV Fachverlage GmbH
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Holler, A. (2009). Introduction. In: New Metrics for Value-Based Management. Gabler. https://doi.org/10.1007/978-3-8349-8400-5_1
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DOI: https://doi.org/10.1007/978-3-8349-8400-5_1
Publisher Name: Gabler
Print ISBN: 978-3-8349-1869-7
Online ISBN: 978-3-8349-8400-5
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