Two measures of residual income (excess profit) are currently available in the literature: Economic Value Added (EVA) (Stewart, 1991) and Systemic Value Added (SVA) (Magni, 2003a, b, 2004; 2005). This study shows that, unlike EVA, SVA is symmetric and additively coherent. Also, EVA and SVA are not simply different in value but also convey different information about good or bad performances.
Economic value added and systemic value added: symmetry, additive coherence and difference in performance / Ghiselli Ricci, Roberto; Magni, Carlo Alberto. - In: APPLIED FINANCIAL ECONOMICS LETTERS. - ISSN 1744-6546. - STAMPA. - 2:3(2006), pp. 151-154. [10.1080/17446540500426797]
Economic value added and systemic value added: symmetry, additive coherence and difference in performance
MAGNI, Carlo Alberto
2006
Abstract
Two measures of residual income (excess profit) are currently available in the literature: Economic Value Added (EVA) (Stewart, 1991) and Systemic Value Added (SVA) (Magni, 2003a, b, 2004; 2005). This study shows that, unlike EVA, SVA is symmetric and additively coherent. Also, EVA and SVA are not simply different in value but also convey different information about good or bad performances.
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