home submit paper guide for authors contact us register search archive current issue journal info
   [Home ] [Archive]    
Main Menu
Home::
Journal Information::
Articles archive::
For Authors::
Registration::
Contact us::
Site Facilities::
Editorial Workflow::
::
Search in website

Advanced Search
..
Receive site information
Enter your Email in the following box to receive the site news and information.
..
:: Volume 4, Issue 2 (5-2014) ::
2014, 4(2): 103-109 Back to browse issues page
Use of Equity Market Value for explaining Cash Flow Return on Investment (CFROI) and Created Shareholder Value (CSV) Evidence from Automotive Industry Tehran Stock Exchange
M. Kaviani , S. R. Seyednezhad Fahim , M. A. Kheyrkar Keshavarz , M. Imeni
Abstract:   (11574 Views)
The concept of Value Creation is gaining momentum in Iran under the open regime. Iranian Companies are geared to understand and act upon the concept of Shareholder Value to stay competitive in this unfathomable and volatile environment. Most executives today understand that, the need to create shareholder value is paramount and the world’s most competitive management teams are responding to the pressure to create value by embracing new metrics and new models for managing their companies. This paper examined the content of information Equity Market Value for explaining Cash Flow Return on Investment (CFROI) and Created Shareholder Value (CSV) in Iran Companies by Alfred Rappaport model, a refined model based on Market Values, believed to be a superior model when compared to the traditional Metrics (ROE, ROA, ROS, EPS, CFO) and various models developed by Consulting Firms (EVA, MVA, REVA, AEVA, SVA, CVA, CFROI, CSV) to analyze Value Creation. For this purpose a sample of 21 companies representing in the automotive of industry for a period of five years from 2006-2012 have been analyzed. The Research results indicate that there is significant relationship and positive between CFROI and Equity Market Value, while there is not relationship between CSV and Equity Market Value.
Full-Text [PDF 334 kb]   (2988 Downloads)    
Type of Study: Research | Subject: Special
Received: 2014/05/30 | Accepted: 2014/05/30 | Published: 2014/05/30
Add your comments about this article
Your username or Email:

CAPTCHA


XML     Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Kaviani M, Seyednezhad Fahim S R, Kheyrkar Keshavarz M A, Imeni M. Use of Equity Market Value for explaining Cash Flow Return on Investment (CFROI) and Created Shareholder Value (CSV) Evidence from Automotive Industry Tehran Stock Exchange. International Journal of Applied Operational Research 2014; 4 (2) :103-109
URL: http://ijorlu.liau.ac.ir/article-1-343-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 4, Issue 2 (5-2014) Back to browse issues page
ژورنال بین المللی پژوهش عملیاتی International Journal of Applied Operational Research - An Open Access Journal
Persian site map - English site map - Created in 0.08 seconds with 37 queries by YEKTAWEB 4645