رابطه بين ارزش افزوده اقتصادي با سود تقسيمي هر سهم و قيمت سهام در شركتهاي پذيرفته شده در بورس اوراق بهادار

The Correlation Between Economic Value Added and Distributed Earning Per Share and Stock Price of Companies in Stock Market

The focal point in economic value added as a scale for performance measurement, relies on subjects like capital expenditure and value which is created for stockholders . The fact that managements are responsible in creating values and maximizing investors wealth is a preliminary principle of EVA concept . So EVA can be used as a scale for measuring the degree of commitment and efficiency of concept . So EVA can be used as a scale for measuring the degree of commitment and efficiency of managers and in fact , the EVA template would be able to respond to stockholder how much managers contribute in increasing their wealth as economic profit can be measured correctly by firms EVA , thus it can be assumed that it is an appropriate scale for firms operational efficiency evaluation . Therefore this paper investigates the relationship between EVA and dividend per share and stock price in stock market during 1379 to 1383 . The results have shown that a meaningful relation not exists between the EVA and dividend per share but meaningful relation exists between EVA and stock price . thus , for stock price , the EVA is a better estimator .