Bridge over ocean
1 January 1998 Financial Analysts Journal Volume 54, Issue 1

Search for the Best Financial Performance Measure: Basics Are Better

  1. Robert Ferguson
  2. Dean Leistikow

Economic value added (EVA) is a well-known and widely used measure of operating performance. Bacidore, Boquist, Milbourn, and Thakor (1997) claimed in a recent Financial Analysts Journal article that a modified version of EVA, refined economic value added (REVA), is theoretically superior to EVA. Actually, EVA is theoretically superior to REVA.

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