Main Data
Author: Annette Holler
Title: New Metrics for Value-Based Management Enhancement of Performance Measurement and Empirical Evidence on Value-Relevance
Publisher: Gabler Verlag
ISBN/ISSN: 9783834984005
Edition: 1
Price: CHF 80.80
Publication date: 01/01/2009
Category: Wirtschaft/Management
Language: English
Technical Data
Pages: 217
Kopierschutz: DRM
Geräte: PC/MAC/eReader/Tablet
Formate: PDF
Table of contents
Annette Holler introduces two new depreciation-adjusted value metrics. Furthermore, a case study illustrates the depreciation-related bias. A regression analysis adds to previous evidence on associations of value creation with stock returns and firm values.

Dr. Annette Holler completed her doctoral thesis under the supervision of Prof. Dr. Dirk Schiereck at the European Business School (ebs) at Oestrich-Winkel, Endowed Chair of Banking and Finance. She works as a strategic management consultant.
Table of contents
List of Contents10
List of Figures13
List of Tables15
1 Introduction20
1.1 Motivation20
1.2 Research Objectives27
1.3 Structure of the Study29
2 Fundamentals31
2.1 Value-Based Management (VBM)32
2.2 Value-Based Performance Measures46
2.3 The Economic Value Added (EVA®) Concept74
2.4 Summary90
3 Development of New Value-Based Metrics92
3.1 Distortions of Residual Income Caused by Accounting Depreciation92
3.2 Adjustment Techniques Using Figurative Economic Depreciation101
3.3 Introduction of New Value-Based Metrics Using Economic Depreciation115
3.4 Summary122
4 Applied Methods for the Empirical Research123
4.1 Review of Prior Value-Relevance Research123
4.2 Development of the Empirical Study Design138
4.3 Summary165
5 Results166
5.1 Case Study166
5.2 Regression Analysis188
5.3 Summary203
6 Discussion205
6.1 Implications205
6.2 Limitations206
6.3 Outlook207