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The use of traditional and modern value-based performance measures to evaluate companies’ implemented and future strategies in the Greek capital market: the case of EPS and EVA

The use of traditional and modern value-based performance measures to evaluate companies’ implemented and future strategies in the Greek capital market: the case of EPS and EVA

Maditinos, Dimitrios I., Sevic, Zeljko, Theriou, Nikolaos G. and Dimitriadis, Efstathios D. (2007) The use of traditional and modern value-based performance measures to evaluate companies’ implemented and future strategies in the Greek capital market: the case of EPS and EVA. Journal of International Research Publications : Economy and Business, 2. pp. 35-55. ISSN 1313-8006

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Abstract

Traditional accounting performance measures, such as EPS, ROI, ROE, have been long used by investors to evaluate companies’ implemented and future strategies. However, in recent years the appearance of shareholder value approach and its modern value-based performance measures, such as EVA and SVA, gave an incentive to investors to consider those measures as important ones to evaluate companies’ strategies. This is the first study in Greece on the practice of investment management in terms of stock market forecasting and stock selection. Our respondents come from six different groups of investors: official members of the Athens Stock Exchange (ASE), mutual funds management companies (MF), portfolio investment companies (PIC), listed companies (LC), brokers (BR), and individual investors (ININ). ASE has become one of the developed stock market centres thus, it is important for international investors to acquire a better knowledge and understanding of how investors in Greece practice their trades. Results of this study confirm the importance of traditional accounting performance measures but at the same time reveal the significant attention investors should pay on the modern value-based performance measures. For limitation reasons this study focuses only on EPS and EVA.

Item Type: Article
Uncontrolled Keywords: traditional performance measures, value-based performance measures, implemented and future strategies
Subjects: H Social Sciences > HG Finance
Faculty / Department / Research Group: Faculty of Business > Department of Accounting & Finance
Related URLs:
Last Modified: 14 Oct 2016 09:09
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/3530

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