Economic Value Added in companies paying dividends
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
The traditional measure of the company's accomplishments net profit, which is the accounting measure. Increasingly, the financial assessment of the achievements of the company is also used category of economic profit – Eco-nomic Value Added (EVA). Economic Value Added expresses a financial surplus that remains in the company after deducting the cost of capital invested in the company. The purpose of this article is to ascertain the extent to which the company paying the dividend generate economic value. The object of the survey are companies listed on the Warsaw Stock Exchange, which in the years 2010 and 2011, paid dividends. The analysis showed that the positive economic value added level reaches less than half of the companies. One of the reasons for this is the unfavorable situation on the capital market and the associated high risk of equity investment, which translates into a relatively high cost of equity in com-panies.
Authors and Affiliations
Mirosław Wypych
Keywords
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- EP ID EP94143
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