To the expansion of capital markets, the role of performance measures in firms’ performance reflection also has been bolded by their information content. In this middling, researchers have considered the competition between two group of performance measures, that is, traditional measures and value-based measures, in justifying stated firms performance. In this research, firstly, We want to show that in the selected industries, cash value added(CVA) in explaining annual stock return relative to operating profit(OP) and operating cash flow(OCF) is superior then, We will examine reasons and conditions made firms performance in each industry is good or bad The time period and number of samples respectively is 1378-1382,110 company in four industry: Nutrition, Chemical, Automobile and nonmetal minerals.
Current research results show:
1. the among four industry, two industry performance of Automobile and non- metal minerals were good, and in level of the selected firms totals is too. 2. by the exception of Chemical and Automobile industries, the existence of significant relation between cash value added and annual stock return, in other industries and in level of the selected firms’ totals verified