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Resource margin accounting: an elucidation and preliminary empirical testing
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Johnson, Peter and Thomas, Howard, 1943-. (2007) Resource margin accounting: an elucidation and preliminary empirical testing. MANAGEMENT DECISION, 45 (3). pp. 420-433. ISSN 0025-1747
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Official URL: http://dx.doi.org/10.1108/00251740710745052
Abstract
Purpose - The aim of this paper is to describe "resource margin accounting" (RMA) as a valuation framework in strategic analysis. Design/methodology/approach - The paper defines RMA as an improved framework for valuation in competitive strategy, relative to existing value-added and cash flow methods. The framework was tested on a sample of 300 US manufacturing companies between 1983 and 1998. Findings - The paper finds that the resource margin approach has greater explanatory power than traditional market-to-book valuation measures. Practical implications - The resource margin approach is methodologically and empirically superior to economic value-added (EVA) and cash flow models of valuation. Originality/value - The paper presents and tests a new valuation method: RMA.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HF Commerce H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Social Sciences > Warwick Business School |
| Journal or Publication Title: | MANAGEMENT DECISION |
| Publisher: | EMERALD GROUP PUBLISHING LIMITED |
| ISSN: | 0025-1747 |
| Date: | 2007 |
| Volume: | 45 |
| Number: | 3 |
| Number of Pages: | 14 |
| Page Range: | pp. 420-433 |
| Identification Number: | 10.1108/00251740710745052 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| URI: | http://wrap.warwick.ac.uk/id/eprint/31709 |
Data sourced from Thomson Reuters' Web of Knowledge
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