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- XX . . , .
, , . , , , , , , , , , .
, , , - , , 1947 . " ". 1978 . . .
- VBM (Value-Based Management) - 80- . XX . () (), : " ", " " <2>, - , , . , . "value" "" ( , ) "".
VBM- :
SVA (Shareholder Value Added - ); (1986 .), ; ;
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EVA (Economic Value Added - ); Stern Stewart & Co (1985 .), , ; EVA - , Stern Stewart & Co. EVA - - , " " , ;
CVA (Cash Value Added - ); (1995 .), , , ;
CFROI (Cash Flow Return on Investment - ); HOLT Value Assocoates (1998 .), , ;
EBM (Expectations-Based Management - ); Monitor Group, ; EBM - , Monitor Group. EBM- ;
MVA (Market Value Added - ) (1996 .); , ;
- - (EBO), , ( + ), ;
RCF (Residual Cash Flow - ) (1996 .), ;
CFA (Cash flow added - ), ;
FEVA (Financial and Economic Value Added) (2003 .), ;
RAVE (2002 .), EVA ;
, .
10 - 15 . , , 30 50% . . -, . -, 99% - , ( ).
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