Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/187742 
Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] European Financial and Accounting Journal [ISSN:] 1805-4846 [Volume:] 11 [Issue:] 3 [Publisher:] University of Economics, Faculty of Finance and Accounting [Place:] Prague [Year:] 2016 [Pages:] 25-38
Verlag: 
University of Economics, Faculty of Finance and Accounting, Prague
Zusammenfassung: 
This paper investigates the relationship between growth rate and shareholder value creation, using a sample of 243 non-financial Standard and Poor's 500 (S&P500) companies, which have 22 years of consecutive data available (1993-2014). Sustainable Growth Rate Model (SGR) is used to divide the sample into two groups as high growth firms and moderate growth firms. Using Panel data approach, it is shown that sales growth below sustainable growth rate (SGR) enhance shareholder value at a significantly higher rate compared to growth above sustainable growth rate. The findings suggest that shareholder value creation maximizes around sustainable growth rate and decreases sharply once SGR exceeded.
Schlagwörter: 
Firm growth
Panel data analysis
Sales growth
Shareholder value creation
Sustainable growth rate
JEL: 
G30
G32
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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