Is the Internal Capital Market Efficiency Empirical Evidence from Chinese a Shares Listed Companies
This paper measure the efficiency of internal capital market according to the new model on the basis of the existing internal market efficiency model modification,The study found that A- shares listed Corporation internal capital market efficiency is effective overall and has the effect on the allocation of resources. The result has a guiding significance for understanding the Chinese capital market efficiency.
Value maximization is the top objective of corporation. SVA?EVA and CFROI are all effective value measures. Having introduced these measures′ theoretical foundation and calculating method,this paper compares their adaptability to strategy from seven perspectives.