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Superior Performance Through Value-based Management

In: Handbook Utility Management

Author

Listed:
  • Andreas Bausch

    (Jacobs University, Schiller University of Jena)

  • Michael Hunoldt

    (Schiller University of Jena)

  • Lars Matysiak

    (Schiller University of Jena)

Abstract

Value-based management provides managers with tools and techniques supporting the development and implementation of value-creating strategies. It further offers incentives which encourage managers to realize only those strategies which create value. In this chapter we present a brief overview of four important concepts of value-based management and of their popularity among the DAX-23 companies. Because of its extreme importance we then portray the EVA/MVA concept of Stern/Stewart in more detail. Moreover, we outline selected applications and techniques of value-based management with reference to strategy development,mergers & acquisitions, and performance management. We substantiate our theoretical discussion with an empirical analysis of the value creation of the DAX-23 companies. Lastly, we evaluate German utility companies’ EVAs and compare them to EVAs of Austrian and Swiss utilities.

Suggested Citation

  • Andreas Bausch & Michael Hunoldt & Lars Matysiak, 2008. "Superior Performance Through Value-based Management," Springer Books, in: Andreas Bausch & Burkhard Schwenker (ed.), Handbook Utility Management, chapter 2, pages 15-36, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79349-6_2
    DOI: 10.1007/978-3-540-79349-6_2
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    Cited by:

    1. Hasan Yalçın, 2024. "Metric Conflict in Financial Analysis: A Comparison and Application of EBITDA and EVA," Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, Istanbul University Business School, vol. 0(70), pages 39-57, January.

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