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Shareholder value creators in the Dow Jones: Year 2008

Author

Listed:
  • Fernandez, Pablo

    (IESE Business School)

  • Bermejo, Vicente J.

    (IESE Business School)

Abstract

During 2008, only 2 of the companies included in the Dow Jones (Wall Mart and McDonalds) created value, while in 2007 16 of these companies did it. The market value of the 300 companies was $2.9 trillion in 2008 and $4.4 trillion in 2007. The top shareholder value creators in 2004 were Exxon, General Electric, Ebay, Johnson & Johnson and Qualcomm. We define created shareholder value and provide the ranking of created shareholder value for the 500 companies. We also calculate the created shareholder value of the 500 companies during the twelve-year period 1993-2004. General Electric was the top shareholder value creator and AT&T was the top shareholder value destroyer during the twelve-year period. On average, the small market capitalization companies of the S&P were more profitable. The volatility of the S&P fell since 1998 to 2004, but the volatility of his components increased on average.

Suggested Citation

  • Fernandez, Pablo & Bermejo, Vicente J., 2009. "Shareholder value creators in the Dow Jones: Year 2008," IESE Research Papers D/826, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-0826
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    File URL: http://www.iese.edu/research/pdfs/DI-0826-E.pdf
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    Keywords

    shareholder value creation; created shareholder value; shareholder value added; shareholder return:;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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