Testimonials

  • "It is common sense that the challenge of corporate management increases by the number and the degree of diversity of activities. Nevertheless, the unique concepts of [Stern Value Management] support us to exercise control while not limiting the scope of our managers." Adi Godrej, Chairman of The Godrej Group
  • "The new VBM system fundamentally impact how we value our businesses, how we set strategic targets for business managers to realize the value, how we review our businesses and compensate our managers." Kumar Mangalam Birla, Chairman of Aditya Birla Group
  • "CalPERS uses EVA® and stock performance to identify companies where poor market performance is due to underlying company specific operating performance problems as opposed to industry or extraneous factors alone. EVA® measures a company’s net operating profit after tax, minus its cost of capital." CalPERS Press Release
  • "There is no profit unless you earn the Cost of Capital. Alfred Marshall said that in 1896. Peter Drucker said that in 1954 and in 1973, and now EVA® has systemized this idea, thank God." Peter Drucker
  • "The implementation of the EVA® framework is a key element of our continuing efforts to evolve as a world class organization and deliver sustainable value to our shareholders, customers, and employees. EVA® will foster our entrepreneurial culture and focus management to think like shareholders." Richard M. Schulze, Founder and Chairman Emeritus of Best Buy
  • "I have frequently engaged [Stern Value Management] for advice regarding corporate valuations, financial planning issues, and incentive compensation design. I value their practical solutions to complex problems and the firm foundations of their recommendations in theoretical economics and finance." John P. Rochon, Past Chairman & CEO of Mary Kay Corporation