An Empirical Study of Impact of EVA Momentum on the Shareholders Value Creation as Compared to Traditional Financial Performance Measures ¨C With Special Reference to the UAE

Ahmed Magdy Fayed and Suchi Dubey

International Journal of Economics and Finance, 2016, vol. 8, issue 5, 23-38

Abstract: The unawareness of value-based performance measures when allocating investments could lead to destroying value. This paper presents comparison of three groups of performance measures being accounting-traditional measures, market-based measures and value-based measures with special focus on EVA Momentum calculated as (¦¤EVA / Trailing Sales). The study covers UAE stock exchanges from 2008 to 2013. A methodology is designed to determine the right transformation of panel data then deciding on the appropriate regression technique among Fixed Effects, Random Effects or Pooled OLS model. Advanced modeling techniques as Driscoll-Kraay and Prais-Winsten models are used to examine serial correlation and heteroskedasticity.

Keywords: driscoll-kraay; economic value added; eva momentum; hausman test; prais-winsten; wealth creation (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://ccsenet.org/journal/index.php/ijef/article/view/57167/31837 (application/pdf)
http://ccsenet.org/journal/index.php/ijef/article/view/57167 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibn:ijefaa:v:8:y:2016:i:5:p:23-38

Access Statistics for this article

More articles in International Journal of Economics and Finance from Canadian Center of Science and Education Contact information at EDIRC.
Bibliographic data for series maintained by Canadian Center of Science and Education ().