基于EVA指标对我国上市公司绩效评价的研究毕业论文_农林经济管理毕业论文

基于EVA指标对我国上市公司绩效评价的研究毕业论文

2021-04-14更新

摘 要

伴随着经济全球化的发展与影响,传统的会计指标派生出来的绩效评价体系日益暴露出其局限性,已不能满足社会的发展需要。并且长久以来,上市公司还没有统一合理的绩效评价方法,因此,上市公司必须确定一个合理的绩效评价体系。而经济增加值(EVA)是对以利润为中心的传统绩效评价体系的改进,在考虑股权资本成本的基础上体现公司的价值创造能力。随着民营企业的大量涌现,占据我国经济发展的重要部分,民营上市公司的绩效评价成为推动其发展的重要因素。因此本文将EVA绩效评价体系用于民营上市公司的管理,希望通过实证分析证明EVA指标的适用性与优越性,从而建立起一套适用于民营上市公司的绩效评价体系。

本文首先介绍了EVA与绩效评价的相关理论知识,然后以P公司为案例进行实证分析,选取它近5年来财务数据,并对有关项目进行调整,通过比较EVA和传统会计指标,分析EVA对民营上市公司的适用性与优越性。最后提出提高上市公司绩效水平的对策,如:统一规范EVA的调整项目、优化资本结构、增强会计信息的真实性、推广EVA绩效评价体系和将EVA与传统会计指标结合等,以完善我国上市公司的绩效评价体系。

研究结果表明EVA适用于民营上市公司,EVA对于解释上市公司的增量信息及股东财富更明确更全面。而传统绩效评价指标的多样性对信息的解释更加详细。所以将EVA与传统绩效评价指标结合,优势互补,才能最有效的体现企业的各项能力。

关键词:EVA;绩效评价;上市公司;传统绩效评价指标

Based on the EVA index study on performance evaluation of listed companies in China

ABSTRACT

Along with the development of economic globalization and the influence, the traditional performance evaluation system of accounting data derived increasingly exposed its limitations, already cannot satisfy the needs of the social development. And for a long time, the listed company has not yet been unified reasonable performance evaluation methods, therefore, listed companies must determine a reasonable performance evaluation system. And economic value added (EVA) is to profit as the center of the traditional performance evaluation system, on the basis of considering the cost of equity capital reflect company’s value creation ability. As private enterprises, to occupy an important part of the economic development of our country, the private listed companies performance evaluation has become an important factor to promote its development. So this article will be EVA performance evaluation system for the management of private listed companies, and hope that through the empirical analysis to prove the applicability of the EVA index and the superiority, so as to establish a set of suitable for private listed company performance evaluation system.

This paper first introduces the EVA and the related theory of performance evaluation, and then with P company as a case for empirical analysis, select it in recent years, financial data, and adjust the project, through the comparison of EVA and traditional accounting indicators, analyzing the applicability of the EVA of private listed company. Finally puts forward some countermeasures for raising the level of the performance of listed companies, such as: the adjustment of the unified, standardized EVA projects, optimization of capital structure, enhance the authenticity of accounting information, the promotion of EVA performance evaluation system and combines EVA and traditional accounting indicators, etc., to improve the performance evaluation system of listed companies in China.

Results indicate that EVA is suitable for the private listed companies, EVA to explain the incremental information of listed companies and shareholders wealth more clear and more comprehensive. The traditional performance evaluation index of diversity of information more detailed explanation. So combines EVA and traditional performance evaluation index can reflect the enterprise the most effective in all kinds of ability

Keywords: EVA; performance evaluation; listed companies; Traditional performance evaluation index

目 录

1 绪论 1

1.1 研究背景 1

1.2 研究目的及意义 1

1.3 研究方法 2

1.4 本文重点、难点 2

2 文献综述 3

2.1 在EVA的有效性方面 3

2.2 EVA绩效评价的应用领域 4

2.3 基于EVA指标对我国各类企业的绩效评价 5

3 理论依据 7

3.1 EVA的理论 7

3.2 绩效评价的理论 12

4 我国上市公司绩效评价的现状分析 13

4.1 传统绩效评价方法 13

4.2 存在问题分析 13

5 案例分析 15

5.1 P公司简介 15

5.2 P公司的绩效评价状况 15

5.3 基于传统绩效评价指标的计算结果 16

5.4 基于EVA指标的计算结果 17

5.5 两种计算结果的比较 19

5.6 本章小结 21

6 对策 22

6.1 统一规范EVA的调整项目 22

6.2 优化资本结构 22

6.3 增强会计信息的真实性 22

6.4 推广EVA绩效评价体系 23

6.5 将EVA与传统绩效评价指标结合 23

结论 24

致谢 25

参考文献 26

1 绪论

1.1 研究背景

改革开放以来,我国经济迅速增长,尤其是民营经济,民营经济占国民生产总值的一大半比重,成为我国经济发展的一枝独秀。同时民营企业在证券市场中也占据重要地位,这必将引领一些优良的民营企业申请发行股票以吸收资本,增强经济实力,为我国人才市场的就业以及市场经济的发展做出重要贡献。因此股票的发行也带动了企业管理者对股权资本成本的重视。

然而,民营企业迅速发展的同时,日益显出其不足。由于民营企业的发展并没有跟上市场经济体制与资本市场的脚步,导致民营企业的问题严重阻碍了民营企业的发展,如管理观念落后、经营者素质较低等。少量民营企业认识到了自身的问题并不断改进,而大部分民营企业却坐以待毙,其主要问题在于没有采用正确合理的绩效评价方法。传统的绩效评价方法是利用会计指标进行评价,并忽略股权资本成本,因此并不是很准确的体现股东财富。

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