"Evidence on EVA^Ò" (with G. Biddle and J. Wallace), Journal of Applied Corporate Finance, Summer 1999.   This paper summarizes the research presented in the two, more academic, papers listed below.  The abstract is viewable at the Social Science Research Network (ssrn.com) website:  http://papers.ssrn.com/paper.taf?ABSTRACT_ID=178168.  The entire paper is available for download in Adobe Acrobat (.pdf) format.  See the button at the bottom of the abstract page to download.   If you don't have Adobe's Acrobat reader, you can download it free at: http://www.adobe.com/products/acrobat/readstep.html.  This paper is ranked number 4 all-time for downloads on the Accounting Research Network (which is part of ssrn.com); see http://papers.ssrn.com/toptens/tt_ntwk_204.html.

"Does EVA^Ò beat Earnings? Evidence on Associations with Stock Returns and Firm Values" (with G. Biddle and J. Wallace), Journal of Accounting and Economics, December, 1997. 

My former Ph.D. student (and former EMBA TA!) Jim Wallace published his thesis on managers' responses to EVA-incentives in the same issue of Journal of Accounting and Economics.  See "Adopting residual income-based compensation plans: Do you get what you pay for?"  

Sidebar from article "Keeping Score" (CFO Magazine, October 1996, p. 36) refers to the second manuscript above!  This article is in your course packet.

 

III.  Company Users include:

Armstrong World Industries

Brahma Land

Coca Cola

Equifax

Hershey Foods

Material Sciences

Monsanto

Quaker Oats

Reynolds Metal

SPX

Tenneco