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Issue ? 42. February 2014Total Shareholder Return as an Instrument of Valuing an Organization's PerformanceAlla Z. Bobyleva, Alexey A. UsachevAlla Z. Bobyleva — PhD, Professor, Head of Department of Financial Management, School of Public Administration, Lomonosov Moscow State University. Alexey A. Usachev — student, School of Public Administration, Lomonosov Moscow State University. The article covers Total Shareholder Return (TSR) as an instrument of efficiency evaluation for an organization (groups of organizations). The factors influencing the TSR are analyzed. The article proposes certain improvements to the formula currently used to estimate the TSR, which will increase the transparency and the accuracy of such estimations. The connections between the TSR and the value for the investors are studied. The dynamics of the TSR for the companies in the US and Russian markets is analyzed and the practicality of using the TSR for the corporation management efficiency evaluation is considered.
Shareholder value, Total Shareholder Return, investment income. Comments:
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