| External Measures of Manager’s Success to Create Shareholder Value | Eksterna merila uspeha menadžera da stvore vrednost za akcionare
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| Management, [pdf] | Menadžment, [pdf] |
| ID: 7.2010.56.10 Number: 56 Year: 2010 UDC: 005.915:347.725 [tmx] [bow] |
Milan Čupić
Institution: Faculty of Economics, Kragujevac | Milan Čupić
Institucija: Ekonomski fakultet u Kragujevcu |
Abstract
External value measures are the favorite tools of modern investors and managers to assess current and prospective
company’s ability to achieve the goal of maximizing shareholder value. They provide a market assessment of
intrinsic value of a company, and management’s performance and strategy. The aim of this paper is to examine
the applicability of some external value measures for assessing the success of management to create shareholder
value. The paper points out that managers can only partially affect the market share price, hence the amount of
these measures. Therefore, a particular problem is to determine the part of shareholder value, which was created
thanks to management of a company. | Apstrakt
Eksterna merila vrednosti predstavljaju omiljene instrumente savremenih investitora i menadžera za procenu tekuće i perspektivne sposobnosti kompanije da ostvari cilj maksimiziranja vrednosti za akcionare. Ona pružaju tržišnu procenu suštinske vrednosti preduzeća, te performansi i strategija menad'menta. Cilj ovog rada je da ispita upotrebljivost nekoliko eksternih merila vrednosti za ocenu uspešnosti menadžera da stvore vrednost za akcionare. U radu se ističe da menadžeri mogu samo delimićno uticati na tržišnu cenu akcija, time i na visinu ovih merila. Zato je poseban problem utvrditi onaj deo vrednosti za akcionare čijem je stvaranju doprineo menadžment kompanije. |
| Pages: 85-93 | Strane: 85-93 |