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The research and development phase is a crucial initial step in any process leading to innovation, and it aligns with the long-term vision of public and private sector strategies. The research questions in this study are as follows: (1) To determine the resulting interrelationship between R&D investments and GDP using regression analysis; (2) To investigate the amount of economic value added (EVA) that Georgia must create with the increase of R&D investments in a certain period in order to move from the group of countries with a BB sovereign credit rating to the group of countries with a BBB-investment credit rating. World Bank data from 2014-2022 was used. Using regression analysis, the impact of R&D investments (by increasing the share of artificial intelligence in R&D to 30-35%) on the country's GDP was determined. The regression analysis between R&D and GDP generated the following results: (1) the regression coefficient is 7.02502%, indicating that a 10% increase in R&D will result in a 0.70% increase in GDP; (2) the coefficient of determination is 81.1%, which demonstrates that 81.1% of the change in GDP is explained by the change in R&D; (3) the correlation coefficient is 90.1%, indicating a strong positive relationship; (4) the P-value is 0.03492, which suggests that the relationship between these two variables is significant. The calculation of a country's EVA (as a powerful tool that evaluates a country's economic growth and development) incorporates three key factors: the country's total wealth, net operating profit after tax and the Central Bank rate. The EVA model of Georgia was calculated and then analysed in order to determine the additional value that Georgia would need to generate in order to be included in the BBB-investment credit rating group. In order to determine this, the economic indicators of the countries on the BBB scale (Greece, Hungary, India, Kazakhstan) were analysed, and their average weighted index was calculated. This index is characteristically relevant according to the criteria set out by S&P, Fitch, and Moody's. The following economic indicators were considered: nominal GDP, GDP per capita, and real GDP growth. External indicators included: current account balance/GDP, gross external financing needs/CARs plus usable reserves. Fiscal indicators were: general government balance/GDP, debt/GDP, and net debt/GDP. Finally, the consumer prices index growth was considered as a monetary indicator. According to EVA model calculations, in order to achieve Georgia's BBB credit rating in the next 9 years, investments of $61.7 billion are required. Using EVA and other economic indicators in the decision-making process will contribute to a more in-depth analysis of the current economic processes in the country and increase efficiency.

Financial leverage decisions are critical to firm performance, yet empirical studies lack consensus on the nature and strength of the relationship between financial leverage and financial performance, with varying impacts depending on performance measures. In Kiambu County, Kenya, poor financial performance among agricultural co-operative societies has hindered potential growth, prompting some farmers to abandon agriculture for real estate ventures. The research examined the effect of financial leverage on financial performance among 25 active agricultural co-operatives in Kiambu County, focusing on capitalization mix, interest coverage, and asset coverage as the independent variable measures. Grounded on the trade-off, pecking order and agency theories, this research adopted a positivist philosophy and utilized an explanatory research design. The analysis of secondary data (2013-2017) from audited financial statements and the Directorate of Co-operatives was conducted through the application of panel regression, descriptive statistical methods and correlation techniques. Diagnostic tests included normality, multicollinearity, autocorrelation, heteroscedasticity, stationarity, and effects modeling. Results revealed a significant positive effect of interest coverage (ß = 2.01937; P = 0.015) and a positive but insignificant effect of asset coverage (ß = 1.174203; P = 0.063) on financial performance. Capitalization mix negatively affected performance significantly (ß = - 0.2589299; P = 0.040). Based on the study findings, managers should formulate optimal debtequity strategies, reduce reliance on debt to mitigate financial risks and explore cheaper financing options to improve financial performance. [ABSTRACT FROM AUTHOR]

This study aimed to examine the impact of disclosing the dimensions of corporate social responsibility, as outlined in the international standard ISO26000, on the economic value-added EVA of pharmaceutical and chemical companies listed on the Amman Stock Exchange. The dimensions explored include environmental issues, community participation and development, corporate governance, consumer issues, labor practices, fair operational practices, and human rights. The study population consisted of 53 industrial companies listed on the Amman Stock Exchange, with a sample of 14 pharmaceutical and chemical companies. To achieve the study's objectives, the researchers collected data from the companies' annual financial reports spanning the period 2018-2022 and analyzed them using simple and multiple linear regression. The findings revealed that the disclosure of corporate governance, environmental issues, consumer issues, and community participation and development had a significant impact on the (EVA)of the pharmaceutical and chemical companies. However, the results showed no impact of the disclosure of human rights, fair operational practices, and labor practices on the EVA of these companies. These results suggest that the current legislative framework for the disclosure of corporate social responsibility dimensions has a clear deficiency, as it primarily focuses on environmental activities and community participation, neglecting the other aspects outlined in the international standard ISO26000. Addressing this gap could lead to a positive impact on the companies' performance and, consequently, improve their EVA. The study's findings call for the development of a more comprehensive legislative framework that requires the disclosure of all the dimensions of corporate social responsibility, as outlined in ISO26000. This would likely contribute to enhancing the EVA of pharmaceutical and chemical companies listed on the Amman Stock Exchange. [ABSTRACT FROM AUTHOR]

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The main objective of the paper is to assess the relationship between firms' financial resilience and firms' strategic sustainable development vulnerabilities, in the context of implications of the COVID-19 pandemic on firms' business environment. Background: The last decade has emphasized an increase in business models' uncertainty and risk exposure. The COVID-19 pandemic has highlighted the awareness in this direction, especially in a changing context, that looks more and more for corporate sector operations' orientation towards sustainable development. The question we would address in this paper is how the nexus between corporate sustainability performance and corporate financial resilience is affected by management decision through process improvements, product quality assurance, or managers' preference to improve corporate financials by earnings management practice instead, especially in the context of specific corporate financial risk management. Methods: The data are extracted from the Refinitiv database. The sample is limited to 275 European Union listed firms, selected based on data availability. The empirical analysis consists of an OLS multiple regression. For robustness purposes, a quantile regression model is estimated as well. Results: The approach considers implications of the pandemic on firms' business environment and earnings management accounting based policies and strategies as well. The result suggests that alignment to sustainability frameworks lead to the deterioration of firms' financial resilience. Similar results show the negative impact of firms' financial vulnerability (credit default risk) on firms' financial resilience. Instead, the risk of bankruptcy, firms' liquidity, or high product quality and business process improvement determine the positive impact on firms' financial resilience. Conclusions: The study highlights several insights both for management and policy makers. First, the results underline the relevance of management's choice for earnings management on ensuring firms' financial resilience, which ask for better corporate governance and high-quality and effective institutional regulatory and enforcement mechanisms. Second, the paper brings evidence on the impact of the COVID-19 pandemic on firms' financial sustainable development. Third, the study emphasizes the importance of the efforts of corporate process improvements and high-quality products on generating value-add, by looking on the relevance of those drivers on the level of corporate economic value-add, a measure that limits the impact of discretionary management accrual-based accounting choices on our discussion. [ABSTRACT FROM AUTHOR]

This study assessed the accounting-based variables and value-based management (VBM) variables that jointly affect firm value and performance. The study applied the causality test and variance decomposition to determine the variability of the variables, and further empirically employed fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) techniques to justify the results. Data covering 356 industries were purposively sampled to arrive at 61 companies spanning 2011–2020. Overall, the causality test found no relationship between economic value added and market value added but only found unidirectional causality from shareholder returns to MVA, EVA to shareholder returns, ROA to MVA, ROE to MVA, EVA to MVA, MVA to EVA, ROE to ROA, EVA to ROA, and EVA to ROE. A very strong bidirectional causality relationship was found between return on asset and shareholder return as a measure of company performance. Further results from the forecast error of the variance decomposition showed that shareholder returns are explained only by its own shock, contributing 45.38 percent in the long run, while the remaining variables, namely market value added, return on asset, return on equity, and economic value added, contribute about 35.96%, 14.06%, 4.08%, and 0.51%, respectively, to predicting the future values of shareholder return. This confirms the relationships between the variables from the short run to the long run. Additionally, results from the FMOL and DOL revealed that all accounting variables and VBM are good approaches for evaluating company performance as the empirical result from ROA, ROE, and EVA revealed positive and significant relationships. This confirms that a combination of both variables would produce a better evaluation as the accounting variables and VBM variables jointly relate to shareholder returns. This study serves as a guide to companies' management and boards of directors in having better ways to evaluate company performance. Consequently, it is recommended that managers select combinations of accounting and VBM variables that suit their operations and jointly apply them in the performance evaluation of the company. This will be useful in providing both the relative and incremental performance information needed for diverse decision-making. [ABSTRACT FROM AUTHOR]

Traditional financial performance measures should be extended to provide additional information to stakeholders. One such extension is the economic value added (EVA). It shows residual profit above the cost of financing, both creditors and equity financing. This paper elaborates on the impact of selected financial ratios on EVA to total assets and EVA to capital employed using the 20-year aggregated data of non-financial business entities operating in Croatia. It answers the research question of which of the selected financial ratios impacts the above-mentioned EVA-based ratios. Applying dynamic panel data modeling using the generalized method of moments technique resulted in the derivation of two models. The human capital efficiency ratio was statistically significant in both models, positively affecting EVA/total assets and EVA/capital employed. In contrast, the debt ratio and net profit margin were significant only in the second model, where EVA/capital employed was a dependent variable. The research results indicate that the debt ratio affects EVA/capital employed negatively while the net profit margin has a positive effect, confirming the existing research. Total liabilities/earnings before interest, taxes, depreciation and amortization, and total asset turnover were not found to be significant in either of the two models. [ABSTRACT FROM AUTHOR]

Copyright of Artvin Çoruh Üniversitesi Orman Fakültesi Dergisi is the property of Artvin Coruh University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The research and development phase is a crucial initial step in any process leading to innovation, and it aligns with the long-term vision of public and private sector strategies. The research questions in this study are as follows: (1) To determine the resulting interrelationship between R&D investments and GDP using regression analysis; (2) To investigate the amount of economic value added (EVA) that Georgia must create with the increase of R&D investments in a certain period in order to move from the group of countries with a BB sovereign credit rating to the group of countries with a BBB-investment credit rating. World Bank data from 2014-2022 was used. Using regression analysis, the impact of R&D investments (by increasing the share of artificial intelligence in R&D to 30-35%) on the country's GDP was determined. The regression analysis between R&D and GDP generated the following results: (1) the regression coefficient is 7.02502%, indicating that a 10% increase in R&D will result in a 0.70% increase in GDP; (2) the coefficient of determination is 81.1%, which demonstrates that 81.1% of the change in GDP is explained by the change in R&D ; (3) the correlation coefficient is 90.1%, indicating a strong positive relationship; (4) the P-value is 0.03492, which suggests that the relationship between these two variables is significant. The calculation of a country's EVA (as a powerful tool that evaluates a country's economic growth and development) incorporates three key factors: the country's total wealth, net operating profit after tax and the Central Bank rate. The EVA model of Georgia was calculated and then analysed in order to determine the additional value that Georgia would need to generate in order to be included in the BBB-investment credit rating group. In order to determine this, the economic indicators of the countries on the BBB scale (Greece, Hungary, India, Kazakhstan) were analysed, and their average weighted index was calculated. This index is characteristically relevant according to the criteria set out by S&P, Fitch, and Moody's. The following economic indicators were considered: nominal GDP, GDP per capita, and real GDP growth. External indicators included: current account balance/GDP, gross external financing needs/CARs plus usable reserves. Fiscal indicators were: general government balance/GDP, debt/GDP, and net debt/GDP. Finally, the consumer prices index growth was considered as a monetary indicator. According to EVA model calculations, in order to achieve Georgia's BBB credit rating in the next 9 years, investments of $61.7 billion are required. Using EVA and other economic indicators in the decision-making process will contribute to a more in-depth analysis of the current economic processes in the country and increase efficiency. [ABSTRACT FROM AUTHOR]

Attempts to measure the economic value contributed to the company by the capital structure present various methodologies that bring together large working teams, whose proposals focus their analysis from the characteristics of the manager to models adjusted to their life cycle. This research addresses this problem by measuring the contribution to economic value through the capital structure, using the Economic Value Added (EVA) method as a basis, and then modifying its analysis variables to quantify the economic value added from debt and equity, which in this work is called Modified Added Economic Value (MEVA). A methodology is proposed to estimate the incremental economic value per monetary unit of financial debt acquired. The main results show that MEVA captures the disaggregated performance of debt and equity management. Moreover, to the extent that profit tax increases, debt is more desirable than equity issuance.

Copyright of Journal of Economics & Administrative Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study objectively examines how financial performance metrics affect stock returns. ROA, ROE, CR, DER, and EVA are being examined. This study uses secondary data from external sources. This study used purposive sampling to choose a sample based on criteria. This study covers 2015-2023 Indonesia Stock Exchange (IDX) LQ 45 Index non-banking companies. Companies from the LQ 45 Index and Sri Kehati Index were carefully selected for the sample. The sample included 46 non-banking firms. As the best analysis model, panel data regression with fixed effect was used. Insignificant association exists between ROA and stock returns. [ABSTRACT FROM AUTHOR]

The present study aims to examine the financial performance before and during the COVID-19 pandemic with respect to profitability ratios, liquidity ratios, solvency ratios and economic value added (EVA) of select Indian public sector banks listed in the Bombay Stock Exchange (BSE). In total, 12 public sector banks listed on the BSE were chosen for the analysis, which spans the years 2018-2019 to 2019-2020. Financial statements and monthly closing prices of public sector banks are the data that were gathered for this study. The tools used in this study are as follows: (I) EVA, (2) financial ratios, (3) descriptive statistics, (4) Shapiro-Wilk normality test and (5) paired samples t-test. Findings of the study are as follows: The empirical findings of the study revealed that the COVID-19 pandemic has a negative effect on earnings per share, net profit ratio, return on capital employed, return on asset and return on equity and a positive effect on current ratio, debt to equity ratio and EVA of select public sector banks. The findings of this study provide several avenues for more research. As one of the research ramifications, future researchers would need to explain discrepancies in the statistical findings of various academics in the finance field. As the expansion of the banking industry is correlated with India's economic growth, developing nations like India rely on the accuracy of the information. With the information provided, the COVID-19 pandemic has a negative effect on profitability variables and positive effect on liquidity, solvency and shareholder's wealth creation variables, so that it has no serious harmful consequences on the economy in respect to profitability position of select banks. The study is conducted on the financial performance before and during the COVID-19 pandemic with respect to profitability ratios, liquidity ratios, solvency ratios and EVA of select Indian public sector banks listed in BSE and also highlighted how banks adapted the pandemic situation, which is a new phenomenon. [ABSTRACT FROM AUTHOR]

Under the requirements of carbon peaking and carbon neutrality goals, the value added of Chinese industrial enterprises may face pressure, especially for those with high carbon emissions, where the constraints are more apparent. It is urgent to explore a long-term development path for enterprises to achieve value addition while managing environmental responsibilities effectively. This study conducts an empirical analysis using the unbalanced panel data of 3137 Chinese A-share listed industrial enterprises from 2008 to 2023. It constructs a comprehensive index covering 7 dimensions and 22 indicators to evaluate corporate environmental management capabilities based on three aspects: government policy requirements, corporate management needs, and public social demands. In this study, a dynamic panel differential generalised moment estimation model (dif-GMM) is established to investigate the impact of environmental management capabilities on economic value added. By categorising industrial enterprises into heavily polluting industries and non-heavily polluting industries, the study further investigates the differences in impact. The results show a significant positive correlation between environmental management capabilities and the amount of economic value added, with a stronger correlation for enterprises in heavily polluting industries. The article provides suggestions from government, enterprises, and societal perspectives to promote a virtuous cycle of enhanced environmental management capabilities and value addition, jointly advancing carbon peaking and carbon neutrality goals. [ABSTRACT FROM AUTHOR]

In early innovation phases, the monetary evaluation of process innovations is a challenge for companies due to a lack of data. However, an innovation evaluation is essential in an early innovation phase to ensure that process innovations deliver economic value added (EVA) in early innovation phases and to channel technology transfer expenditures in a goal-oriented manner. This paper presents an approach for a semi-quantitative procedure for the monetary evaluation of process innovations in the early innovation phase focusing on manufacturing and material costs. Exemplarily, the approach is applied to process innovations of the Collaborative Research Center 1368 on oxygen-free production. In order to ensure the net present value orientation within the innovation evaluation, the procedure developed is based on a driver tree of the EVA. To link value drivers of the EVA and innovation-driven factors influencing EVA, the EVA driver tree is further systematized with a focus on manufacturing and material costs using a literature-based impact model. Based on the last level of the impact model, a guideline for a semi-structured expert interview is developed. Using this interview guideline, data is collected in the form of innovation-driven influencing factors, which represent the input for the final monetary innovation evaluation. An adapted weighted scoring model is used to draw a semi-quantitative conclusion regarding the EVA achieved by the process innovation. The practical application of the approach developed to process innovations in oxygen-free production has shown that, in the context of three process innovations under consideration, their implementation with the aim of achieving an EVA through reduced manufacturing and material costs at the current innovation status is not effective. However, based on the impact model developed, corresponding levers can be identified to positively influence the EVA and thus also the industrialization of the process innovation. Finally, further necessary steps are identified to evolve the presented approach into a complete method for monetary innovation evaluation in early innovation phases. [ABSTRACT FROM AUTHOR]

The study investigates the impact of a post-merger integration capability (hereinafter PMIC) on shareholder value added (hereinafter SVA) of acquirer banks listed on the Ghana Stock Exchange (hereinafter GSE). The study used panel data techniques of random effects, fixed effects estimation and generalised method of moments (GMM) to purge time-invariant unobserved firm specific effects and to mitigate potential endogeneity problems. The study indicated that PMIC (proxied by strategic, communication, coordination and network, marketing, technology, knowledge management, human capital, intellectual capital, managerial and information technology capabilities) have positive and significant influence on SVA (proxied by Economic Value Added, Market Value Added and Cash Value Added). The results further show that bank size, bank age, bank growth and leverage moderate the relationship between PMIC and SVA. The study recommends that banks analyse their organisational capabilities and firm size prior to any business expansion decision (organic or inorganic). [ABSTRACT FROM AUTHOR]

Copyright of Religación: Revista de Ciencias Sociales y Humanidades is the property of Religacion: Revista de Ciencias Sociales y Humanidades and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Electrónica de Investigación en Ciencias Económicas (REICE) is the property of REICE: Revista Electronica de Investigacion en Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested. Design/methodology/approach: To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested. Findings: The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth. Originality/value: The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed. [ABSTRACT FROM AUTHOR]

The prerequisite for businesses’ success, competitiveness, and non-bankruptcy is their performance. An effective performance measurement system is a suitable tool for measuring and improving business performance. The development in performance measures moved from financial measures focused on company profitability to measurement systems combining different methods, approaches, and tools. The paper aims to identify key performance indicators for Slovak heating companies based on the developed integrated performance measurement system. The analysis sampled 292 Slovak companies within SK NACE 35 (heating industry). The performance measurement system was built on balanced scorecard principles, while the least absolute shrinkage and selection operator (Lasso regression) method was used to select financial indicators. Based on the combination of the above methods, a performance measurement system framework for the analyzed sample of businesses was created. The results show that when managing performance, the analyzed businesses should focus on the following financial performance indicators: Receivables turnover ratio, Return on equity, Return on costs, Total debt to total assets, Material intensity, Labor to revenue ratio, Netto cash flow to assets, Net working capital to total assets, and Short-term liabilities to assets. When building performance measurement system based on balanced scorecard principles, financial indicators were supplemented by non-financial ones. In addition to the original balanced scorecard principles, the performance measurement system was extended by environmental constituents. Also, the paper’s deliverable combines Lasso regression and balanced scorecard principles in order to select key performance indices. AcknowledgmentThis paper is prepared within the grant scheme VEGA No. 1/0741/20 (the application of variant methods in detecting symptoms of possible bankruptcy of Slovak businesses in order to ensure their sustainable development).

Within the real estate sector, the concept of sustainability has traditionally been associated with green building initiatives. This study broadens the scope by examining environmental disclosure practices across a spectrum of stakeholders, including developers, financiers, suppliers, and advisors, within the real estate sectors of Australia and India. Utilizing the Global Reporting Initiative (GRI) standards to evaluate environmental reporting, this research scrutinizes publicly disclosed company data to assess the sector's engagement with sustainability. The findings reveal a pronounced focus on emissions and energy, with less attention to other critical factors like biodiversity, materials, and supplier environmental assessment. This selective disclosure suggests a need for a more holistic approach to sustainability reporting. This study also investigates the influence of regional nuances and the integration of international reporting standards, shedding light on the varied practices of sustainability reporting within the industry. Furthermore, this paper examines the relationship between environmental disclosures and financial performance, measured by the economic value added (EVA). It was observed that environmental disclosures do not show a significant correlation with EVA for companies in either country, indicating that current reporting practices do not directly impact financial outcomes as captured by this metric. These findings offer actionable insights for enhancing reporting practices, encouraging a collective approach to address the environmental impacts of real estate, and contributing to the discourse on responsible environmental stewardship. [ABSTRACT FROM AUTHOR]

Purpose: The article aims to propose a model for enterprise value management for micro, small and medium-sized entities. In literature, the concept of enterprise value management is commonly associated with large organizations that possess well-established accounting, financial, or controlling departments. Furthermore, they have the necessary potential and resources to implement a fairly complex enterprise value management system. The situation is different for small and medium-sized entities. These businesses often do not have their own accounting department, outsourcing accounting to external providers, and they tend to see accounting as a necessary evil. The purpose of the model is to define the foundations of value management in SMEs and develop a simplified, organizationally effective and cost-efficient solution that could become the first step towards value management in such entities. Design/methodology/approach: The proposed recast financial statements will provide clearer information on the financial condition of economic operators. Findings: The financial statements were analysed in terms of the availability of information necessary for value management in a group of small and medium-sized enterprises. Financial statements prepared in accordance with the Accounting Act or IFRS were found not to provide the information necessary to manage the value of the company, hence the proposal for its transformation and appropriate improvements. Practical implications: The presented model can be applied by a group of small and mediumsized entities that will be interested in multiplying the value for the owners and that do not have the appropriate background in the form of finance and accounting departments. [ABSTRACT FROM AUTHOR]

The study intends to find empirical evidence that shows the effect of economic value added, leverage, and liquidity on stock prices in the manufacturing industry registered on the Indonesia Stock Exchange in the period 2018 to 2020. The study was conducted by taking 71 samples using the technique of purposive sampling. From the results of the partial t-statistical test, it was proved that leverage (DAR) and liquidity (CR) had positive and significant influences towards stock prices, while economic-value-added (EVA) had no significant influence towards stock prices.

One of the most popular methods to measure the performance and success of the company has become the economic value added. EVA supports strategic planning, and management can measure and evaluate performance at the division level. Through it, you can find results that are important not only for the company's management and the owners but also for the company's shareholders. For businesses in the market, it is essential to measure and evaluate the performance of the business, as they are exposed to the risk of competition and, of course, pressure from the environment. However, many companies are underestimating this measurement due to time-consuming and evaluating business performance based on financial statements. Therefore, they can only assess traditional indicators, often insufficient to determine the company's performance. The paper aims to inform readers about all necessary information related to the EVA method and draw the calculation on a specific example. We have determined the application of the method to a particular company as our primary goal. Therefore, we can get information on the performance of the selected company. The applied values and data are further applied and interpreted, which results in how the company manages its assets and how it can continue to improve its performance.

Investors invest money in different financial instruments to get a return on investment. Every investor is deliberate to know the proper time to enter the market which would help the investor to get the maximum return from the invested amount. Selecting the right stock for the investment is based on the interpretation and analysis applied for value of the stock. The fundamental value of the stock is useful for the investor to analyse the intrinsic value of the stock. The intrinsic value of stock determines the investors whether stock is undervalued or overvalued stock. There is different model for fundamental value analysis model like economic value added, market value added and intrinsic value of the stock. Economic value-added models are used for the financial performance measurement tools which analyse how much wealth the company had created to the investors after deducting the net operating profit and cost of capital. Market value added is a measure of wealth a company has created for its investors. It is a cumulative measure of corporate performance that looks at how much a company's stock has added to (or taken out of) investors. The intrinsic value model is the worth of the shares as measured by their returngenerating potential. The research aims to analyse the intrinsic value of the stock based on the residual income model, one stage model and market valueadded model. [ABSTRACT FROM AUTHOR]

This paper will discuss an important target variable in value-based management: the Economic Value Added (or EVA). EVA is a measure of a company's financial performance based on the residual wealth calculated by deducting its cost of capital from its operating profit, adjusted for taxes on a cash basis. EVA can also be referred to as economic profit, as it attempts to capture the true economic profit of a company. This measure was devised by management consulting firm Stern Value Management, originally incorporated as Stern Stewart & Co. This research will also discuss adjustments and different types of assumptions that are necessary for the calculation as well as how to use them properly to obtain an interpretable result. Paper will explain the formula and which conversions should be considered. It remains to be noted that the EVA concept only leads to small progress from a scientific point of view, but that the clever marketing by Stern & Stewart has initiated a renaissance of the underlying residual profit concept. The paper provides practitioners and academics with a good overview of the demonstrable added value of EVA controlling and, in contrast, also illustrates the weaknesses of the calculation model or the inaccuracy due to interpretation variables, which overall limit the value of EVA as a management key performance indicator. The research includes comprehensive and substantial discussion in the scientific literature on EVA and its interpretation.

In this paper, starting from the "holistic" approach of the European Banking Authority (EBA) which reinforces the relevance of antimoney laundering in the prudential assessment of banks, a conceptual scheme is proposed for the calculation of the Economic Value Added of banking products showing how, in the face of various activities required for AML purposes (from onboarding to alert management to constant monitoring), the economic convenience of a relationship can be determined ex ante, at least for each product. The results confirm that for the same creditworthiness and cost of capital, the AML variable strongly affects the economic convenience of the individual products. Considering the partially inelastic nature of AML costs, the size of the operation is equally fundamental in determining whether to initiate relationships with certain types of customers.

The global market's sustainability demand for coffee as a result of environmental concerns has influenced coffee producers to practice green coffee production. The efforts to improve the environmental performance of coffee production should also consider the other sustainability aspects: energy and economics. Using a green fertilizer from agricultural biomass can lower carbon dioxide (CO2) emissions since the cultivation process, which is directly impacted by fertilizer use, has been identified as an environmental damage hotspot for coffee production. This study aims to determine the impact of coffee pulp biomass utilization on coffee production in terms of energy savings, CO2 emission reduction, and economic value added. The methodologies used were environmental Life Cycle Assessment, energy requirement analysis, life cycle costing, and eco-efficiency analysis. The study findings showed that using coffee pulp biomass in coffee cultivation impacted the energy savings, environmental damage reduction, and increased economic value added. Applying coffee pulp biomass can potentially reduce 39–87% of cumulative energy demand, 49.69–72% of CO2 emissions, and 6–26% of the economic value-added increase. Moreover, coffee pulp utilization as a fertilizer is recommended to be applied broadly to promote sustainable coffee production according to its beneficial impact. This study provided that scientific information farmers need to apply green fertilizers in coffee production. [ABSTRACT FROM AUTHOR]

With increasing criticism on measuring executive performance based primarily on Total Shareholder Return (TSR), some academics and practitioners have revived discussions on using Economic Value Added (EVA) as an alternative. But if EVA failed to gain traction over the past two decades, is there any new evidence for it or different approaches to better implement it in corporate settings? In this study, we start by confirming EVA‐related metrics' significant positive relationships with long‐term TSR in the Australian market. Our empirical findings also address EVA's major drawback – too much complexity arising from accounting adjustments. Our results suggest that accounting adjustments are generally not necessary, and efforts should be re‐directed to designing direct and intuitive plan mechanisms. In addition, we develop a pseudo environment to illustrate EVA's managerial benefits and potential to cultivate sustainable growth. To study this influence, we leverage capital‐based simulation techniques and mimic executive decision making under different performance measurement conditions, which was typically only discussed in a qualitative or theoretical sense. We find that EVA‐related metrics naturally induce long‐term, strategic and sustainable decision making without limiting executives to overly focus on short‐term profitability. This simulation approach not only provides quantitative evidence, but also gives practitioners in different market environments an expandable and scalable pseudo framework to test the effect of different incentive plans and inform performance target setting, a useful but often overlooked feature in, for instance, the Australian market, where data is relatively scarce. [ABSTRACT FROM AUTHOR]

This article proposes a methodology to calculate the sustainable added value of the processes (SVA) that form a supply chain (CS), through a comprehensive indicator. The methodology consists of six steps and uses as methods the Life Cycle Analysis and the methods of Diakoulaki and Saaty, based on multiple criteria. When applied to a CS of electromechanical products, it was possible to obtain the SVA of each process and with it the value that each one contributes to the economic and environmental dimensions of sustainability. These results demonstrate the novelty and feasibility of applying the developed methodology and its differences with other existing ones in the specialized literature. [ABSTRACT FROM AUTHOR]

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The purpose of this article is to examine the academic literature about the function, structure, calculation, and weaknesses of economic value added (EVA). EVA has been used as a measure of economic profit and captures the inadequacies of using traditional rates of return. In addition, this article tackles the main residual earnings (RI) modifications used to calculate EVA. A keyword search for publications was conducted in early 2022. This study couples an inferential analysis with descriptive analyses of the existing research. The articles were sorted into different clusters based on bibliographic coupling analysis. This study identifies the main areas and current dynamics of EVA research while evaluating the quality and impact of the scientific output. Three broad themes emerged from the analysis of the cluster related to the use and application of EVA: residual income and valuation, financial performance, and performance management. In doing so, we hope to enhance the understanding and contributions of EVA research to advance its theory and practice. [ABSTRACT FROM AUTHOR]

One of the most popular methods to measure the performance and success of the company has become the economic value added. EVA supports strategic planning, and management can measure and evaluate performance at the division level. Through it, you can find results that are important not only for the company's management and the owners but also for the company's shareholders. For businesses in the market, it is essential to measure and evaluate the performance of the business, as they are exposed to the risk of competition and, of course, pressure from the environment. However, many companies are underestimating this measurement due to time-consuming and evaluating business performance based on financial statements. Therefore, they can only assess traditional indicators, often insufficient to determine the company's performance. The paper aims to inform readers about all necessary information related to the EVA method and draw the calculation on a specific example. We have determined the application of the method to a particular company as our primary goal. Therefore, we can get information on the performance of the selected company. The applied values and data are further applied and interpreted, which results in how the company manages its assets and how it can continue to improve its performance. [ABSTRACT FROM AUTHOR]