Usefulness of Value Added and Abnormal Economic Economic Earnings: An Empirical Examination
以收益为基准，通过企业价值分析、水平分析和变化分析，检验增值和异常经济收益两种绩效指标的解释力，发现增值的解释力高于收益，而异常经济收益不显著。
This paper investigates the usefulness of two alternative measures of performance: value added and abnormal economic earnings. Using earnings as the benchmark, firm value analysis, levels analysis, and changes analysis were performed to evaluate their explanatory power. Results show that value added is a statistically significant variable; its explanatory power is higher than that of earnings. Abnormal economic earnings, however, are not a significant variable.