Warianty tytułu
Języki publikacji
Abstrakty
The EVA framework tries to embrace the traditional liquidity oriented working capital discussion and the more recent profit oriented access to the topic and positions working capital management within a shareholder value strategy. Our theoretical paper challenges the predictability of the impact working capital management has on EVA and thus challenges the need for working capital management being included in EVA based incentive systems. Our findings underline the complexity and limited predictability of measures addressing working capital in an EVA context and thus demonstrate the limitations of management influence on EVA.(original abstract)
Rocznik
Numer
Strony
21--32
Opis fizyczny
Twórcy
autor
- Baden Württemberg State University, Villingen-Schwenningen, Germany
autor
- Baden Württemberg State University, Villingen-Schwenningen, Germany
Bibliografia
- Alexandre P., Sasse A., Weber K. (2004): Steigerung der Kapitaleffizienz durch Investitions- und Working Capital Management. "Controlling: Zeitschrift für erfolgsorientierte Unternehmenssteuerung", Vol. 16, Iss. 3, pp. 125-131.
- Copeland T., Goedhart M., Wessels D. (2005): Valuation. Measuring and Managing the Value of Companies. McKinsey, Hoboken, New Jersey.
- Ewert R., Wagenhofer A. (2008): Interne Unternehmensrechnung. Springer, Berlin- Heidelberg.
- Etiennot H., Preve L.A., Allende V.S. (2012): Working Capital Management: An Exploratory Study. "Journal of Applied Finance", pp. 162-175.
- Kroflin P., Kratz N. (2015): Working Capital Management as a Routine: An Action Based Access to the Topic. "Business Economic Horizons", Vol. 11, Iss. 3, pp. 172-182.
- Meyer C.A. (2007): Working Capital und Unternehmenswert - Eine Analyse zum Management der Forderungen und Verbindlichkeiten aus Lieferungen und Leistungen. Deutscher Universitätsverlag, Göttingen.
- Pfitzner M., Hilbert A. (2014): Anforderungen an ein analytisches Working Capital Management. "Corporate Finance", Vol. 1, pp. 33-39.
- Payne S. (2002): Working Capital Optimization Can Yield Real Gains. "Financial Executive", Vol. 18, Iss. 6, pp. 40-42.
- Sasse A., Weber K. (2004): Working-Capital-Management zur Steigerung der Kapitaleffizienz. "Der Controlling Berater", Vol. 6, pp. 811-826.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171454351