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shareholders value added (Rappoport, 1986), EVA
cash value added (Ottoson and Weissenrieder, 1996), and many others. They can be
considered as indicators of the intellectual capital outcomes.
The EVA
model is very widespread and could be used to estimate on the data introduced in
companies financial statements. According to the Stern and Stewart concept, EVA
is
calculated as the difference between the Net Operating Profit After Tax (NOPAT) and the
opportunity cost of Capital Employed (CE*WACC) (Stern, 2001).
EVA
). FGV
growth. According
to Stern and Stewart, FGV
.
Furthermore, the FGV