Toward better measurement of financial \ performance: A ROBUST OEVA-TEVA alternative to BIASED EVA

Additional, but not the least relevant argument in support of our OEVA--TEVA proposition is the equivalence of the OEVA--TEVA based valuation model to the fundamental approach of valuing a firm by cash flow discounting, so that it may be also utilized as a standalone methodology for investment project appraisal and business valuation.

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Appendix A

Equivalence of the teva and fcf valuation

Appendix B

derivation of the terminal value formulas for the teva and oeva valuation

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