EVA在企绩效评价中的作用研究.doc

EVA在企业绩效评价中的作用研究 ----EVA在我国商业银行绩效评价中的应用 摘要 业绩评价活动一直都是企业管理的一项重要内容，是资本市场、公司财务和管理会计领域的一项重大课题，也是一个极具显示意义的应用问题。与发达国家的企业相比，我国企业现行的业绩评价普遍还不能令人满意。并且使得业绩评估标准只看重销售收入和盈利增长，这使他们无须真正承担资本回报的责任。 本文首先回顾了国内外关于EVA有效性的实证研究成果，探讨了EVA的相关理论，提出了企业主体理论和经济历任理论是EVA理论的会计学渊源和经济学渊源的观点。在此基础上，本文详细探讨了我国银行业EVA绩效模型的构建，并选取了一些样本进行实证研究，得出了以下结论：一是由于考虑了资本结构和资本成本因素并通过会计项目调整减少了对利润指标的认为干预因素，EVA比传统绩效评价指标更真实的揭示了银行的盈利水平，与股票价格也体现了一定的关联性，是银行价值创造的驱动力；二是借助EVA贴现模型，引入了市场价值、市场增加值等概念，可以在一定程度上考察商业银行股价的估值水平。最后，根据实证研究结果，提出了我国银行业建立EVA内部绩效管理体系的政策建议。 关键词 EVA；绩效评价；商业银行 Abstract Achievement appraisal has been a business management important content，is the capital market, the corporate finance and management accounting a domain important issue, is also one has the demonstration significance extremely the application question. Compares with developed countrys enterprise, Our country Enterprise present achievement appraisal has not been able to be satisfying generally. And causes the achievement appraisal standard only to regard the sales revenue and the profit grows, this causes them not to need to undertake the capital repayment responsibility truly． this article first reviewed domestic and foreign about the EVA valid empirical study achievement, has discussed the EVA correlation theories, proposed the enterprise main body theory and the economy successively hold the theory are EVA the theory accounting origin and the economic origin viewpoint. Based on this, this article discussed my banking industry EVA achievements to accompany your national model in detail the construction, and selected some samples to conduct the empirical study, as soon as obtained has drawn a conclusion： First, because had considered the capital structure and the capital cost factor and the project adjustment reduced through accountant has thought the intervention factor to the profit target, EVA compared to the traditional achievements evaluating indicator was really the revelation bank profit level, has also manifested certain relatedness w