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The Features of the Economic Profit Impact on the Market Value of the Company in Developed and Emerging Markets

Student: Anton Moiseev

Supervisor: Irina Khvostova

Faculty: Faculty of Economics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2017

The present study focuses on the identifying features of the economic profit impact on the market value of companies in developed and emerging markets. This research was based on the 40 largest US companies listed on the New York Stock Exchange and National Association of Securities Dealers Automated Quotations and the 50 largest Russian joint-stock companies, excluding financial companies. To test the hypothesis, I used regression and correlation analysis to determine the relationship between market value of the company and the economic value added. As a result, it was revealed, that there is no need to use the EVA. In the US capital market, there was no evidence to support the assertion that the economic value added is a better metric that traditional earning based measures in explaining market value. The analysis of the Russian capital market showed that EVA does not affect the market value of the company.

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