企业战略管理英文.pptVIP

Market - Based Measures Firm Performance Although the four measures have limitations, they provide insight into the ability of a firm to achieve above-average returns, average returns or below- average returns. ! Correlations between the accounting measures market measures are only 0.15 to 0.30. ! This suggests that market measures tell us something different about performance than accounting measures. Market Value Added (MVA) is: The difference between the cash investors expect to receive given the firms current market value and the amount of cash that debt equity holders have i