宁波市上市公司经营业绩分析研究毕业论文.docVIP

毕业论文 （20_ _届） 宁波市上市公司经营业绩分析研究 摘 要 经济增加值(Economic Value-Added）作为企业经营业绩的计量方法，考虑公司的股权资本成本，能更准确的反映上市公司为股东创造的财富。本文采用EVA业绩评价法，运用资本资产定价模型（CAPM）计算股权资本成本率，进而得出加权平均资本成本（WACC）来求得EVA值，对所选的宁波市19家上市公司进行经营业绩评价。 本文在分析所选样本公司EVA值后，提出了一些改善上市公司经营管理的方法，如：提高企业营运效率、优化资产结构和增加资本回报率等，以提高自身的EVA，从而为股东创造更多的财富。本文其后阐述了在进行分析研究过程中发现的EVA评价法的局限，主要是EVA有明显的适用范围，并且EVA不利于不同规模企业间的横向比较。本文最终以自我启示的方式对EVA评价法的改进做了补充，希望有更多的企业从EVA中受益。 关键词：Abstract Economic value added as a measurement method for business performance, which is used by the company to consider the opportunity cost of equity capital can reflect the listed companies to create wealth for shareholders more accurately. In this paper, I use the performance evaluation method of EVA to evaluate the operating performance of 19 listed companies. I use the capital assets pricing models （CAPM）to calculation the equity capital cost, to see the weighted average cost of capital （WACC),then to calculation the EVA value. I propose a number of methods for listed companies to improve their management and EVA, which like enhancing its efficiency and improving the structure and raising the return on assets to capital, thus creating more wealth for shareholders. This paper also describes the limitations of EVA evaluation in the process of empirical research, mainly the scope of EVA and EVA are not conducive to the difference between the horizontal scale companies. I make some additional improvements for EVA evaluation as the self-revelation, wish that more enterprises would benefit from EVA. Keywords: Results of Operations; Performance Evaluation; Chinese Listed Companies; Economic Value Added; Cost of Capital目 录1 上市公司业绩评价理论概述 1 1.1 公司业绩评价定义 1 1.2 上市公司业绩评价的流程 2 1.3 我国上市公司业绩评价现状 3 1.4 宁波上市公司业绩评价现状 4 2 经济增加值（EVA）业绩评价方法概述 6 2.1 EVA概念的简述 6 2.2 EVA计算方法的描述 6 2.3 EVA的相关会计调整 7 3 EVA评价法对宁波上市公司经营业绩评价的分析研究 10 3.1 宁波上市公司基本情况 10 3.2 EVA评价宁波上市公司经营业绩 10 3.2.1 权益资本成本的计算 11 3.2.2 债务资本成本的计算 13 3.3 宁波上市公司经营业绩评价结果及分析 13 3.3.1 宁波上市公司经营业绩评价结果 13 3.3.2 宁波上市公司经营业绩评价结果分析 14 4 提高宁波上市公司经营业绩