To measure shareholder value creation has been the issue of discussion all around the world. It has become crucial since the companies were increasingly committing to creating shareholder value. Old traditional measures are criticised for having low correlation with shareholder value creation. Therefore, new valuation methods are needed to measure the shareholder value creation…
Contents
INTRODUCTION
1.1 BACKGROUND
1.2 RESEARCH ISSUE
1.3 OBJECTIVE OF THE STUDY
1.4 SCOPE AND LIMITATIONS
1.5 CHAPTER LAYOUT
2 RESEARCH METHOD
2.1 RESEARCH APPROACH
2.2 POSITIVISTIC AND HERMENEUTIC PERSPECTIVE
2.3 QUANTITATIVE OR QUALITATIVE METHODS
2.4 DATA COLLECTION
2.4.1 Literature study
2.4.2 Empirical data
2.5 SAMPLE OF STUDY COMPANIES
2.6 RESEARCH EVALUATION
2.6.1 Validity
2.6.2 Reliability.
2.7 SUMMARY
3 THEORETICAL FRAMEWORK
3.1 CREATING SHAREHOLDER VALUE
3.1.1 Introduction and History of shareholder value
3.1.2 What is shareholder value?
3.1.3 Shareholder versus other stakeholders
3.1.4 Value drivers
3.1.5 what is value creation?
3.1.6 Facts about shareholder value creation
3.1.7 Ways to create shareholder value
3.1.7.1 Excellence in operations
3.1.7.2 Getting the financial structure right
3.1.7.3 Being focused
3.1.7.4 Credible earning growth
3.1.7.5 Information
3.1.7.6 Stock repurchase
3.1.8 Shareholder value network
3.1.9 Value Based Management
3.2 SHAREHOLDER VALUE CREATION – HOW TO MEASURE IT?
3.2.1 Introduction.
3.2.2 Old and traditional accounting measures – plusses and shortcomings
3.2.2.1 EPS – Earnings Per Share
3.2.2.2 ROI: Return On Investment
3.2.2.3 ROE – Return On Equity
3.2.3 Recently developed measures – why are they better than the old?
3.2.3.1 TSR – Total Shareholder Return
3.2.3.2 EVA – Economic Value Added
3.2.3.3 MVA – Market Value Added
3.2.3.4 CVA® – Cash Value Added
3.2.3.5 CVA developed by the Boston Consulting group
3.2.3.6 DCF – Discounted Cash Flow
3.2.3.7 CFROI® – Cash Flow Return On Investments…
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Author: Shooshina, Natalia,Nyiramahoro, Beatrice
Source: Goteborg University
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