RI model

Does the residual income model measure managerial effectiveness?

I thought that market value added and economic value added measured managerial effectiveness- the latter based on the logic that it starts at net operating profit after tax- so that clearly to me shows managerial effectiveness because we are looking at the operating part of the income statement.

Does residual income measure managerial effectiveness too? What does it measure in relation to say- the Gordon model or in relation to economic value added or market value added…

additionally- is there any logic to the fact that we can’t use the sustainable growth model if the firm plans to finance its projects using equity financing? I read that only debt financing is valid if we use the constant growth models. Is there any logic to this? (If we issue equity, out ke changes but it does when we issue debt so why that stipulation?)