Création de valeur, 10 ans après

Nicolas Mottis and Jean-Pierre Ponssard

Working Papers from HAL

Abstract: Value based management was considered as the major managerial innovation of the nineties: managers were to supposed to be turned into owners through redesigned compensation packages including value creation metrics such as EVA and the like, increased influence of shareholders on firms' strategies... Ten years later it is about time to come back. This article indeed revisits a study made at the time by the authors on the implementation of VBM and analyzes the evolutions observed since then. It identifies the main achievements such as the better management of assets and cost of capital, and the difficulties encountered in the alignment of managers' compensation on market value. It discusses the current trend towards more operational performance indicators in that respect.

Date: 2009
Note: View the original document on HAL open archive server: https://hal.science/hal-00440010
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Journal Article: Création de valeur, 10 ans après (2009)
Working Paper: Création de valeur, 10 ans après (2009)
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