Maximizing shareholder’s wealth is the goal of a business enterprise. Today economic value added (EVA) is known as the best performance evaluative measure which is a measure for shareholder’s wealth increase. This measure has the greatest influence on the external measure of performance market value added (MVA). This research investigates the relation between these two measures in Tehran’s stock exchange in medium size from 1996 to 2003. 70 companies are selected from 13 different industries as investigation samples. The results show that the most correlation is between the standardized MVA and standardized EVA. This research shows that %61 of changes in standardized MVA can be explained by changes in standardized EVA .But the explanatory power of the criteria of ROE, ROI and EPS growth is %45, %43 and %6 respectively. Hence EVA is the best measure for evaluating the internal performance and has the most correlation with the market values.