Modelling traditional accounting and modern value-based performance measures to explain stock market returns in the Athens Stock Exchange (ASE)

Dimitrios Maditinos; Zeljko Sevic; Nikolaos Theriou

doi:10.1108/17465660911006431

Modelling traditional accounting and modern value-based performance measures to explain stock market returns in the Athens Stock Exchange (ASE)

Dimitrios Maditinos, Zeljko Sevic, Nikolaos Theriou

Research output: Contribution to journal › Article › peer-review

Abstract

The purpose of this paper is to investigate the explanatory power of two value-based performance measurement models, Economic Value Added (EVA^®) and shareholder value added (SVA), compared with three traditional accounting performance measures: earnings per share (EPS), return on investment (ROI), and return on equity (ROE), in explaining stock market returns in the Athens Stock Exchange (ASE).

Original language	English
Pages (from-to)	182-201
Number of pages	20
Journal	Journal of Modelling Management
Volume	4
Issue number	3
DOIs	https://doi.org/10.1108/17465660911006431
Publication status	Published - 1 Jan 2009

Keywords

ASE
stock market returns
value-based performance
accounting

Documents and Links

10.1108/17465660911006431

http://researchonline.gcu.ac.uk/cbs/240

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abstract = "The purpose of this paper is to investigate the explanatory power of two value-based performance measurement models, Economic Value Added (EVA{\textregistered}) and shareholder value added (SVA), compared with three traditional accounting performance measures: earnings per share (EPS), return on investment (ROI), and return on equity (ROE), in explaining stock market returns in the Athens Stock Exchange (ASE).",

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AU - Theriou, Nikolaos

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AB - The purpose of this paper is to investigate the explanatory power of two value-based performance measurement models, Economic Value Added (EVA®) and shareholder value added (SVA), compared with three traditional accounting performance measures: earnings per share (EPS), return on investment (ROI), and return on equity (ROE), in explaining stock market returns in the Athens Stock Exchange (ASE).

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