Dynamic Linkages between MVA and Internal Performance Measures: A Panel Cointegration Analysis of the U.S. Insurance Industry

Abstract

The article presents information on stock returns, market value added (MVA) and market value of firms. It then uses panel co-integration methods for testing long term relationship between MVA shares of companies. It further discusses external and internal performance measures, research methodologies. It concludes by discussing the result of analysis and its empirical findings.