Foundations of Economic Value Added

I took a few courses with Professor Grant at the University of Massachusetts Boston, where this was one of the required texts. I must say his courses and his texts has turned out to be most valuable and useful during my final years as a student of undergraduate finance. All of his texts were reader-friendly and insightful. Dr. Grant uses active companies in the stock market (GE, Dell, IBM) and their historical data to determine whether they are creating or destroying wealth for their shareholders and bondholders using value-based metrics like eva. His calculations in this book were especially easy to follow and understand - students of finance can relate with me if you have read some of those cryptic finance texts. I would highly recommend Dr. Grant's text to all students. And if you are a UMass Boston student, you should take his course.

As a portfolio manager with a major NYC investment firm, it was refreshing to see Professor Grant drill down to the core concepts of EVA and its impact on market pricing. Everyone acknowledges that Stern Stewart has pushed EVA thinking forward in the corporate world but Professor Grant takes it further and shows how EVA gets priced into securities on a day-to-day basis.