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International Journal of Economics & Management Sciences

.: Home > International Journal of Economics & Management Sciences > 2016 > Volume 1 Number 9 > Saeid Jabbarzadeh Kangarlouei1 , Morteza Motavassel2 , Asghar azizi3 , Mahdi Sarbandi Farahani 4

The Investigation Of The Impact Of Ownership Concentration On Financial Performance Measurement Criteria And Market Value Added

Saeid Jabbarzadeh Kangarlouei1 , Morteza Motavassel2 , Asghar azizi3 , Mahdi Sarbandi Farahani 4
1 Department of Accounting, Orumieh Branch, Islamic Azad University, Orumieh, Iran. 2 Department of Accounting, West Azarbyjan Science and Research Branch, Islamic Azad University, West Azarbyjan, Iran. 3 Department of Accounting, miandobbe Branch, Islamic Azad University, miandobbe, Iran. 4 Department of Accounting, Arak Branch, Islamic Azad University, Arak, Iran.
Abstract :

Financial performance measurement of companies in decision-making process is one of the most important subjects in financial and economic scope regarding development and importance of market role. Economic value added (EVA) and refined economic value added (REVA) are among the most important criteria of financial performance measurement. Several researches have been conducted internationally consistent with the view that REVA has most correlation with market value than other traditional financial performance measurement. The most important purpose of the present research is to make clear the theoretical indices of financial performance measurement, test these indices and offer necessary evidences in order to help the Iranian capital market participants to make rational decision in investment process. This study is applied and correlation type research and the relationship between REVA and other new and traditional criteria of financial performance with market value added (MVA) is studied using simple and multivariable regression. Findings show that REVA has more correlation with MVA than EVA and other indices of traditional financial performance measurement during 1384-1389. These results suggest that all creditors, shareholders and activities of the capital market that use these criteria for measuring financial performance of companies and their managers use these criteria along other criteria in evaluating companies. The results are consistent with the results of Bacidore et al. (1997)

Keywords :
Ownership concentration, Financial performance, Economic value added (EVA), Refined economic value added (REVA), Market value added (MVA).

Date Deposited : 24 May 2016 19:35

Last Modified : 01 Jun 2016 19:07

Official URL: http://www.omicsonline.com/

Volume 1, Number 9, September 2016 , ISSN 2162-6359

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