همبستگي بين نسبت ارزش افـزوده اقتصادي (EVA) به سرمايه با نسبت ارزش افزوده بازار (MVA)به سرمايه در بورس اوراق بهادار تهران

Correlation between Ratio of Economic Value Added to Capital and Ratio of Market Value Added to Capital in Tehran Stock Exchange

This study illustrates positive and significant correlation between ^VA and Cap MVA jn a|| companies listed in Tehran Stock Exchange regardless of their group of Cap industry during 2000-2007. Results are also valid in each industry studied except for Basic Metals and machinery equipments. Statistical method used for hypothesis testing is linear regression. Furthermore, for testing the effect of market value added on explanatory power of independent variable, selected companies were categorized in two groups based on their MVA in 2007. Results confirm positive Cap relations between variables in both groups. Also, independent variable explanatory power in the group of companies with positive ^A , is higher than in the group of Cap companies with negative ^^ . Cap