Financial performance evaluation of listed companies in tehran stock exchange (tse) based on economic value added (eva)

摘要

Economic Value Added (EVA) is a value based financial performance evaluate, an investment decision tool and it is also a performance evaluate reflecting the real amount of shareholder value created. The main purpose of this study was to calculate Economic Value Added (EVA) of listed companies in Tehran stock Exchange (TSE) during 2005-2009. The total numbers of companies listed in the Tehran Stock Exchange (TSE) are 337 over the period 2005-2009 and were chosen randomly 180 listed companies of Tehran stock Exchange (TSE).udDescriptive statistics showed that Economic Value Added (EVA) had negative amount for 2006, 2007, and 2009 but the amount of value created in 2005 and 2008 were positive. Totally the average of Economic Value Added (EVA) of listed Companies in Tehran Stock Exchange (TSE) was negative during 2005 to 2009 periods and this illustrated that listed Companies in Tehran Stock Exchange (TSE) couldn’t create value for their shareholders and investors