SHAREHOLDER RETURNS AND CORPORATE EXCELLENCE
W. Bruce Johnson
(Assistant Professor at Northwestern University)
Ashok Natarajan
(Ph.D. Candidate)
Alfred Rappaport
(Leonard Spacek Professor of Accounting and Information Systems at Northwestern University)
403
Abstract
Superior firms are those which create shareholder wealth. The most direct way to measure shareholder wealth is by examining the worth of dividends plus share‐price appreciation. The authors contend that the companies chosen as excellent by Peters and Waterman, in their book, In Search of Excellence, fail to show superior shareholder wealth creation.
Citation
Johnson, W.B., Natarajan, A. and Rappaport, A. (1985), "SHAREHOLDER RETURNS AND CORPORATE EXCELLENCE", Journal of Business Strategy, Vol. 6 No. 2, pp. 52-62. https://doi.org/10.1108/eb039109
Publisher
:MCB UP Ltd
Copyright © 1985, MCB UP Limited