A study of share holders’ value creation of selected it companies in India using EVA, MVA & Dividend Paid

In current arena the decision of investor is very wise to invest their hard-earned money. When Government securities and instruments of money market are providing mere return on the investment of investors, the share market is only a source through investors can maximize their wealth (but subject to market risk as if we always read as the precaution mark). While doing the investment in stock market one can do two types of analysis i.e. fundamental analysis and technical analysis. The current research paper is related more with fundamental analysis, where the researcher has tried to analyze the real value of the company by applying contemporary tools. In contemporary tools researcher has selected Economic Value Added (EVA) and Market Value Added (MVA) and in traditional tool Dividend paid is adapted. The calculation of EVA and MVA is done with the formulas given by stern steward & co. and furthermore to establish the relationship in between of EVA, MVA and Dividend paid the statistical tools like ANOVA and T-Test is applied. In addition to analyze the relationship in between of EVA, MVA and Dividend paid by the companies selected under study correlation analysis technique is also used.