Journal article
The relationship between entrepreneurial intensity and shareholder value creation
Managing Global Transitions, Vol.6(3), pp.229-256
2008
Abstract
Innovation and entrepreneurship have long been regarded as sources of value and wealth creation. Previous research has shown that there is a positive relationship between enterprises' levels of entrepreneurship and their financial performance. Little research, however, has hitherto focused on measuring the relationship between entrepreneurship and shareholder value creation. In this study the relationship between the entrepreneurial intensity and the shareholder value created by an enterprise is investigated. An adapted corporate entrepreneurship (ce) measurement instrument is applied in order to gauge entrepreneurial intensity, while shareholder value creation is measured by the marketadjusted total share return (tsr) and the value based financial performance measure Economic Value Added (eva). The study is conducted for a sample of enterprises listed in the industrial sector of the Johannesburg Securities Exchange (jse) for the period 2003-2005. The contribution of the study is the focus on the relationship between ntrepreneurial intensity and shareholder value creation, rather than purely on the accounting-based financial performance of an enterprise.
Details
- Title
- The relationship between entrepreneurial intensity and shareholder value creation
- Authors
- P Erasmus (Author) - Stellenbosch University, South AfricaMargarietha J Scheepers (Author) - Stellenbosch University, South Africa
- Publication details
- Managing Global Transitions, Vol.6(3), pp.229-256
- Publisher
- Univerza na Primorskem, Fakulteta za Management Koper
- Date published
- 2008
- ISSN
- 1581-6311
- Copyright note
- Copyright © 2008 The Author. This article is published under the terms of the Creative Commons CC BY-NC-ND 4.0 License.
- Organisation Unit
- School of Business and Creative Industries; University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99451287202621
- Output Type
- Journal article
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