Topic
Embedded value
About: Embedded value is a research topic. Over the lifetime, 343 publications have been published within this topic receiving 8853 citations.
Papers published on a yearly basis
Papers
Posted Content•
1 Jan 2012
TL;DR: In this article, the authors focus on finding out if EVA is a more accurate method and more successful than the ones currently used, and find that EVA aligns management's objectives with those of the shareholders', improves accountability and enables better performance analysis.
Abstract: The measure of the economic value has become a widely debated issue because, nowadays, more and more companies are focusing on creating value for their shareholders. Due to the fact that the traditional methods are not strongly related to the actual value created, the study focuses on finding out if EVA is a more accurate method and more successful than the ones companies currently use. EVA promises an effective way to manage shareholder value. It aligns management’s objectives with those of the shareholders’, improves accountability and enables better performance analysis. Therefore, it is not surprising that EVA, as a management tool, is in the spotlight.
12 citations
TL;DR: In this paper, the authors evaluate simple value strategies for the European stock market (compared to many other studies that test market data on a country-by-country basis) as well as sophisticated multi-dimensional value strategies that also include capital return variables (Consistent Earner Strategy) and momentum factors (Recognized Value Strategy), the latter reconciling intermediate horizon momentum and long-term reversals of behavioral finance theories.
12 citations
Posted Content•
1 Jan 2012TL;DR: The economic content of the net present value is defined and mathematically proves that definition is correct and this economic content inducts that theNet present values are not comparable.
Abstract: SUMMARY This study examines the nature of net present value. It defines the economic content of the net present value and mathematically proves that definition is correct. This economic content inducts that the net present values are not comparable. The study systematically eliminates the distortion affects. The net present value transforms into a special kind of rate, namely, the modified difference between the factual and the required rate of return. The ranking list according to this transformed net present value corresponds to the list according to the internal rate of return. This is a new cognition and a very important correspondence.
11 citations
TL;DR: In this paper, the authors identify the evolution of some of the key value based indicators in the case of Romanian listed banks and compute value based measures like Residual Income RI and Market Value Added MVA but also traditional measures like Earnings per Share EPS and Price to Earnings ratio PER in order to have a detailed view on the evolution in the banking industry for last seven years 2005-2011.
Abstract: This study aims at identifying the evolution of some of the key value based indicators in the case of Romanian listed banks. In particular we compute value based measures like Residual Income RI and Market Value Added MVA but also traditional measures like Earnings per Share EPS and Price to Earnings ratio PER in order to have a detailed view on the evolution of shareholder value creation in the banking industry for last seven years 2005-2011. As results suggest BRD represents the greater shareholder value creator in the case of the listed banks. On the other hand EBS is the greater value destroyer. The other listed banks TLV and BCC can be characterized as value preserver as they don’t destroy nor create shareholder value.
11 citations
TL;DR: The International Accounting Standards Board is undertaking a project to develop an Accounting Standard for Insurance as discussed by the authors, which is based on the assumption that assets and liabilities should be shown at fair values (market values for quoted instruments).
Abstract: The International Accounting Standards Board is undertaking a project to develop an Accounting Standard for Insurance. The basis for these proposals is that assets and liabilities should be shown at fair values (market values for quoted instruments). This is an updated version of a paper, prepared by a Working Party established by the General Insurance Research Organisation (GIRO) of the General Insurance Board of the actuarial profession of the United Kingdom, which was first presented to the GIRO Conference in October 2002. This paper summarises and comments upon the principal features of the proposals as they have emerged up to February 2003. The paper considers the implications for general insurance companies of these proposals. In particular, it examines the concept of market value margins, and the practical issues that insurance companies are likely to encounter in implementing them. The emphasis of the paper is on reporting for general insurance business, although many of the principles apply equally to life assurance.
11 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2021 | 3 |
| 2020 | 2 |
| 2019 | 2 |
| 2018 | 3 |
| 2017 | 14 |
| 2016 | 20 |