Question: An added-value statement (see Kay, 1993) based on 1990 data for what was then Glaxo plc calculated its EVA as 28% of revenues (remarkably similar

An added-value statement (see Kay, 1993) based on 1990 data for what was then Glaxo plc calculated its EVA as 28% of revenues (remarkably similar to the 2008 figure), and 46% of gross output (51% in 2006, 40% in 2000). To what extent do these comparisons confirm that there are real limits to performance in competitive markets?

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