2Biddle, G C , R M Bowen, and J S Wallace. 1997. Does EVA beat earnings: Evidence on associations with stock returns and firm values [J]. Journal of Accounting and Economics, Vol 24:301-336.
3Biddle, G C , G S Seow, and A F Siegel. 1995. Relative versus incremental information content [J]. Contemporary Accounting Research. , Vol 12 : 1 N 23.
4Chen S and J L Dodd. 2001. Operating Income, Residual Income and EVA: Which Metric Is More Value Relevant?. Jounal of Managerial Issues, Vol. XIH Number 1 Spring: 65 -86.
5Dechow , P M 1994. Accounting earnings and cash flows as measures of firm performance: the role of accounting accruals [J]. Journal of Accounting and Economics, Vol 18:3 -42.
6Easton, P , Harris, T 1991. Earnings as an explanatory variable for returns [J]. Journal of Accounting Research, Vol 29:19-36.
7Holthausen, R W , and R L Watts. 2001. The Relavance of the Value - Relevance Literature for Financial Accounting Standard Setting [J]. Journal of Accounting and Economics, Vol 31 : 3 -75.
8Vuong, Q 1989. Likelihood Ratio Tests for Model Selection and Non -nested Hypotheses[ J ]. Econometrica, Vol 57:307 -333.
9White, H 1980. A Heteroscedasticity consistent covariance matrix and a direct test of heteroscedasticity [J]. Econometrica, Vol48:817-838.
10Jan, C. , and J. Ou, 1994, the role of negative earnings in the valuation of equity stocks, Working paper, New York University.