Transcript
  • 00:00    |    
    Initial credits
  • 00:06    |    
    Introduction
  • 01:13    |    
    Cash dividend payments
  • 03:33    |    
    Capital gain preference
  • 06:54    |    
    What happens when a company is private or shareholders want liquidity?
  • 08:17    |    
    Taxation results on dividend payment
  • 09:39    |    
    Economic Value Added (EVA)
    • Risk pricing
    • Debt-free firm
  • 11:52    |    
    EVA background
    • Deficiencies in accounting framework
    • Cost of capital
    • Telephone retail business
  • 20:05    |    
    Return on investment categories
  • 21:19    |    
    What happens if you have impairments?
  • Pooling of interests
  • 26:10    |    
    Acquisitions viewed through EVA
  • 28:00    |    
    Risk management
  • 29:07    |    
    Set decisions
  • 31:16    |    
    Quotes n , Michael Jensen and William Meckling
  • Underperformance costs
  • 35:42    |    
    Importance of agency theory
  • 37:28    |    
    Quotes n , Raghuram G. Rajan
  • Middle management presence
  • 40:10    |    
    Valuation models
  • Capital charge for debt
  • 43:08    |    
    Value change agents
  • 45:40    |    
    Key to success
  • 47:15    |    
    Value creating machine
  • 50:05    |    
    Do you remove other incentive plans when you implement EVA in companies?
  • Alpha site
  • 52:30    |    
    Free cash flow
  • 55:11    |    
    Rates of return opportunities
  • 57:19    |    
    Value paradigm
  • 59:10    |    
    Are decisions always taken on the margin?
  • 01:00:19    |    
    Accounting framework errors
  • 01:01:52    |    
    Value optimization condition
  • 01:02:37    |    
    Management expectations
    • Role of the Chief Executive Officer
    • Cost of capital in management
  • 01:13:01    |    
    EVA impact on shares
  • 01:14:13    |    
    Free cash flow model
    • Positive free cash flow
    • Negative free cash flow
  • 01:21:06    |    
    Accounting anomalies
  • 01:21:37    |    
    Inflation in the United States
  • 01:25:10    |    
    Quotes Shyam Sunder
  • 01:28:23    |    
    Ronald Reagan tax policy
  • 01:31:29    |    
    Management value added
  • 01:35:05    |    
    Is company value already in the price?
  • 01:36:47    |    
    EVA book value incentive
  • 01:40:11    |    
    EVA incentives
    • Properties
      • Simple
      • Significant payments
      • Definitive
      • Objectivity
    • Conditions
      • Improvements in EVA
      • No caps
      • Bonus bank
      • Collaboration
  • 01:50:11    |    
    How does this apply to functional units?
  • 01:51:14    |    
    Do you think that the incentive percentages should be different?
  • 01:52:45    |    
    Missionary anecdote in New Zealand
  • 01:55:56    |    
    Final words
  • 01:59:24    |    
    Final credits


Economic Value Added (EVA): Principles and Framework

New Media  | 18 de octubre de 2011  | Vistas: 150

Joel M. Stern explains the elements of the management technique that has revolutionized the most important companies in the market, Economic Value Added (EVA). He explains the logic of incentives on different levels, and sets examples of how these allurements may result counterproductive. By implementing the EVA framework, he describes how he has managed to increase the value of the enterprises successfully advised on. One of the main topics in his lecture is the excess in confidence people have in accounting frameworks, and how, most of the time, this resource does not take into account costs that might affect the company in its quest for increasing value. Finally, Stern explains how the EVA program benefits every individual, enables collaboration and productiveness in a company, and he encourages his audience to search the creation of value.




Conferencista

Joel M. Stern is the creator and developer of Economic Value…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín