Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1860801
Shareholder return and value creation at listed infrastructure companies in different economic contexts
Juan Lafont
Javier Romero
Miguel Palacios
Felipe Ruiz
Sažetak
The creation of value in listed companies has been of interest to
the research field and to practitioners in the investment arena for
more than eighty years. It can be considered to have two aspects
the first with more quantitative elements related to financial and
performance aspects, and the second with more qualitative elements related to company competitiveness. The stated goal is the
evaluation of the factors that influence value creation in different
economic contexts and their possible changes of listed infrastructure companies with data referring to before, during and after the
crisis of 2008. The fuzzy-set QCA method has been used, where
the relationship between both factors, qualitative and comparative, can be reflected on an output related to value creation, represented by the Total Shareholder Return (TSR). The TSR is an
appropriate indicator as it provides a broader measure, which
includes the share price, and represents the overall return that
the investor can achieve, that is, the amount returned to shareholders. The conclusions reached highlight the importance of
qualitative and quantitative factors, as well as their combination,
in creating value and that there are differences that exist before,
during and after the crisis.
Ključne riječi
Infrastructure; listed companies; performance; shareholder return; value creation
Hrčak ID:
301352
URI
Datum izdavanja:
31.12.2021.
Posjeta: 171 *