ارزيابي ميزان همبستگي بين ارزش افزوده اقتصادي، سود خالص و سود عملياتي با ارزش بازار سهام شركت هاي پذيرفته شده در بورس اوراق بهادار تهران

The Evaluation of Correlation between Economic Value Added, Net Profit and Operating Profit with Firms Market Value in Tehran Stock Exchange

One of the most common criterion based on value which has been considered in recent years, is called EVA. This study has analyzed the ability of EVA to present information related to the firmʹs value and tries to compare it with some other criterion such as operational profit and not profit. In fact this paper is aimed to determine the correlation coefficient between the economic values added, net profit and operating firmʹs market values in Tehran stock exchange. This research is an empirical one, which investigates the relation between variables by using regression method and Pearsonʹs correlation coefficient. The methodology of this research is past event study. Population of this study includes all Iranian firms listed in Tehran stock exchange, except investing and financial firms. We use the data of 77 firms over the period 1380-1386 selected from Tehran stock exchange. The results of this study has shown that although the coordination of EVA with market value is remarkable, but compared with operational and net profit, it is less capable.