The EVA Framework and the Current Economy (Take 15 Series)
CFA Institute Take 15 Series
The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.
In this episode, Joel M. Stern explains the origins and applications of Economic Value Added (EVA), a metric that he invented at his firm, Stern Stewart & Co. In addition, Mr. Stern describes the current market conditions, the collapse of the “comparative advantage period,” and alternative sources of equity funding for public companies.
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Speaker
Joel M. Stern is the chairman and CEO of Stern Stewart & Co. Previously, he served as president of Chase Financial Policy, the financial advisory arm of Chase Manhattan Bank, which he joined after completing his graduate studies in finance and economics at the University of Chicago. Mr. Stern is a recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation and has been a pioneer and leading advocate of the concept of shareholder value. He maintains close ties to the academic community and has served on the faculties of graduate business schools in the United States and other countries. Mr. Stern has published several books, most recently Against the Grain, which describes his journey from his early days through his business career and the development of the ideas for which he is most well-known, free cash flow and value-added economics.
This information is accurate as of the date of recording.
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Topics
- Equity Investments
- Financial Statement Analysis
- Economics
Details
| Length: |
23min |
| Posted: |
12/9/2008 |
| Recorded On: |
11/14/2008 |
| CE Credits: |
.5 CE |
| Formats: |
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Price (USD)
| Members: |
FREE |
| CFA Program Candidates: |
FREE |
| Standard Rate: |
FREE |