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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
Derviş Boztosun
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DOI:10.17265/1537-1514/2017.12.001
Affiliation(s)
Erciyes University, Kayseri, Turkey
ABSTRACT
In this study, the success of
EVA (Economic Value-Added, a modern performance assessment method) and net profit
(a conventional performance assessment method) in explaining the financial performance
of corporates was compared. For this purpose, the stock market performance of the
shares of deposit banks operating in the banking sector in Turkey was used as the
performance indicator of corporates. Then, EVA and the net profit of the period
were used to explain the stock market performance of the deposit banks. The research
sample was composed of eight deposit banks that have been operating since the year 2005
and whose shares have been publicly traded in stock markets since then and which
have available financial tables and share data for this period. The data obtained
for this research sample were then subjected to panel data analysis. It was concluded,
based on present findings, that EVA was more successful than the net profit of the
period in explaining the stock market performance of the deposit banks.
KEYWORDS
EVA, net profit of the period, stock market performance, deposit banks
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