Zugl.: Vallendar, Univ., Diss., 2005.

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<p>Alla företag strävar efter att göra en vinst, men frågan är när ett företag faktiskt uppnått detta. </p><p>Stern Stewart & Co är ett amerikanskt konsultbolag som har arbetat fram ett koncept som de kallar Economic Value Added (EVA). Den stora skillnaden mellan detta och övriga vinstmått är att EVA visar att ingen vinst har uppnåtts förrän även kostnaderna för det egna kapitalet, d.v.s. den avkastning som aktieägarna förväntar sig, är täckta. Stern Stewart & Co har marknadsfört EVA som ett helhetskoncept som ska användas för styrning i hela företaget. Den fråga som vi har ställt oss är hur EVA-konceptet ser ut i svenska företag. Syftet med studien är att beskriva EVA-konceptets användningsområden och förklara hur svenska företag arbetar med måttet. För att besvara frågan och uppfylla syftet krävdes en helhetsförståelse över företagens situation, därför har en kvalitativ ansats använts. Undersökningen består av intervjuer som genomförts med fyra företag som använder sig av EVA-konceptet. De resultat vi har fått fram visar att företag anpassar modellen efter sina behov och förutsättningar samt att den används som ett komplement eller kompletteras av andra mått. Vidare har införandet av EVA-konceptet inte någon förankring i att företag vill arbeta mer mot aktieägarnas intressen, utan att syftet med att använda EVA-konceptet har andra skäl.</p>

Alla företag strävar efter att göra en vinst, men frågan är när ett företag faktiskt uppnått detta. Stern Stewart & Co är ett amerikanskt konsultbolag som har arbetat fram ett koncept som de kallar Economic Value Added (EVA). Den stora skillnaden mellan detta och övriga vinstmått är att EVA visar att ingen vinst har uppnåtts förrän även kostnaderna för det egna kapitalet, d.v.s. den avkastning som aktieägarna förväntar sig, är täckta. Stern Stewart & Co har marknadsfört EVA som ett helhetskoncept som ska användas för styrning i hela företaget. Den fråga som vi har ställt oss är hur EVA-konceptet ser ut i svenska företag. Syftet med studien är att beskriva EVA-konceptets användningsområden och förklara hur svenska företag arbetar med måttet. För att besvara frågan och uppfylla syftet krävdes en helhetsförståelse över företagens situation, därför har en kvalitativ ansats använts. Undersökningen består av intervjuer som genomförts med fyra företag som använder sig av EVA-konceptet. De resultat vi har fått fram visar att företag anpassar modellen efter sina behov och förutsättningar samt att den används som ett komplement eller kompletteras av andra mått. Vidare har införandet av EVA-konceptet inte någon förankring i att företag vill arbeta mer mot aktieägarnas intressen, utan att syftet med att använda EVA-konceptet har andra skäl.

No description available.

The creation of shareholder wealth has become the key of corporate success. A setback in achieving this is a lack of commitment and participation in productivity initiatives at shop floor level in South Africa and companies are faced with competitive challenges of promoting innovativeness relating to productivity improvement amongst employees. It has increasingly been recognized that by introducing a carefully crafted incentive scheme, it may be possible to induce workers to work both harder and smarter and use existing technologies in new and better ways that enhance their productivity. The purpose of the study is to evaluate to what extend gainsharing can be a solution to the predicament. The empirical data used during the study was based on questionnaires that were administered amongst managers of Eskort Ltd. The research established that gainsharing would induce employees to effectively participate in problem solving or productivity improvement initiatives in the company. The majority of participants feel that gainsharing will benefit the company to deliver on client requirements; help enhance teamwork; create a feeling of ownership; share a portion of saved-cost for productivity improvement purposes; stimulate organization learning; improve communication between management and employees; stimulate employees to make suggestions on ways to improve productivity; and increase profit and reduce costs. The study clearly illustrates that money can be the primary drive for motivation to certain employees within the company. Further more based on the results of the empirical study the researcher came to the conclusion that motivated employees will be more productive and as a result have a positive influence on the value drivers employed by the EVA methodology. EVA is a value based performance measure, an investment decision tool and also a performance measure indicating the absolute amount of shareholder value created. / Thesis (M.B.A.)--North-West University, Vaal Triangle Campus, 2009.

Economic Value Added (EVA) is a residual income that corrects distortion of managerial incentives introduced by standard GAAP accounting. This study attempts to compare EVA with EPS and see which one is better. The difference between literature and this study is that we use not only cross-regression but also Granger causality test to make clear the relationship between stock return and performance measure and find out what is the value of EVA. Our main finding is as follows¡G 1.EVA significantly positively affects the contemporaneous stock return, but EPS is insignificant. This support the existence of EVA. 2.The components unique to EVA --- the cost of capital, significantly negatively affects the contemporaneous stock return, indicating that market does take into consideration the cost of capital when pricing the company. 3.As to Granger causality relationship, there is no lead-lag relationship between stock return and EVA or EPS. This means that performance measure cannot be a predictor of future stock return. In a word, EPS, ignoring equity capital and being distorted by GAAP accounting, neither explains the contemporaneous stock return, nor forecasts the future. However, EVA, considering equity capital and correcting distortion of GAAP accounting, can explain the contemporaneous stock return by representing the intrinsic value of the company. But, EVA, being still on the basis of history, cannot forecast the future. Anyway, EVA can replace EPS in reflecting the operating of the company, that is the contribution of EVA.

Diss.-- European Business School, 2009. / Includes bibliographical references.

The creation of shareholder wealth has become the key of corporate success. A setback in achieving this is a lack of commitment and participation in productivity initiatives at shop floor level in South Africa and companies are faced with competitive challenges of promoting innovativeness relating to productivity improvement amongst employees. It has increasingly been recognized that by introducing a carefully crafted incentive scheme, it may be possible to induce workers to work both harder and smarter and use existing technologies in new and better ways that enhance their productivity. The purpose of the study is to evaluate to what extend gainsharing can be a solution to the predicament. The empirical data used during the study was based on questionnaires that were administered amongst managers of Eskort Ltd. The research established that gainsharing would induce employees to effectively participate in problem solving or productivity improvement initiatives in the company. The majority of participants feel that gainsharing will benefit the company to deliver on client requirements; help enhance teamwork; create a feeling of ownership; share a portion of saved-cost for productivity improvement purposes; stimulate organization learning; improve communication between management and employees; stimulate employees to make suggestions on ways to improve productivity; and increase profit and reduce costs. The study clearly illustrates that money can be the primary drive for motivation to certain employees within the company. Further more based on the results of the empirical study the researcher came to the conclusion that motivated employees will be more productive and as a result have a positive influence on the value drivers employed by the EVA methodology. EVA is a value based performance measure, an investment decision tool and also a performance measure indicating the absolute amount of shareholder value created. / Thesis (M.B.A.)--North-West University, Vaal Triangle Campus, 2009.

The creation of shareholder wealth has become the key of corporate success. A setback in achieving this is a lack of commitment and participation in productivity initiatives at shop floor level in South Africa and companies are faced with competitive challenges of promoting innovativeness relating to productivity improvement amongst employees. It has increasingly been recognized that by introducing a carefully crafted incentive scheme, it may be possible to induce workers to work both harder and smarter and use existing technologies in new and better ways that enhance their productivity. The purpose of the study is to evaluate to what extend gainsharing can be a solution to the predicament. The empirical data used during the study was based on questionnaires that were administered amongst managers of Eskort Ltd. The research established that gainsharing would induce employees to effectively participate in problem solving or productivity improvement initiatives in the company. The majority of participants feel that gainsharing will benefit the company to deliver on client requirements; help enhance teamwork; create a feeling of ownership; share a portion of saved-cost for productivity improvement purposes; stimulate organization learning; improve communication between management and employees; stimulate employees to make suggestions on ways to improve productivity; and increase profit and reduce costs. The study clearly illustrates that money can be the primary drive for motivation to certain employees within the company. Further more based on the results of the empirical study the researcher came to the conclusion that motivated employees will be more productive and as a result have a positive influence on the value drivers employed by the EVA methodology. EVA is a value based performance measure, an investment decision tool and also a performance measure indicating the absolute amount of shareholder value created. / Thesis (M.B.A.)--North-West University, Vaal Triangle Campus, 2009.