eva指标体系研究宝山钢铁为例.docVIP

PAGE PAGE 44 #######毕业论文 EVA指标体系的应用研究 ——以宝山钢铁公司为例 院系名称 管理/经济学系 姓　　名 学　　号 专　　业 财务管理/会计/工商管理 指导教师 年 月 日 摘 要 企业绩效评价是企业管理的核心，长期以来，不同企业的管理者都在寻找一种有效的企业绩效评价方法。基于价值的管理日益在公司理财活动中居于指导地位，公司的价值取决于其未来的现金流量的现值，只有公司投入资本的回报超过资本成本时，才会创造价值。而传统的业绩衡量指标无法准确反映公司为股东创造的价值。 EVA评价指标体系很好地解决了这一问题，它将企业价值与资本投入联系在一起，能够真实反映企业创造价值的能力。因此本文从EVA研究的背景及意义入手，介绍了评估企业价值的主要方法和指标，在比较中指出了EVA的优越性，并进一步阐述EVA理论内容。同时以大型国有企业宝山钢铁公司财务数据为基础，分析计算2008年宝钢主要EVA数据，通过实例证明EVA所反映的公司隐藏资本成本，得到与传统指标截然不同的结论。最后，也指出了EVA的一些不足之处。 关键词：业绩评价；经济附加值；宝山钢铁公司 Abstract In a long time,performance evaluation is the core of enterprise management, managers of different companies are looking for an effective enterprise performance evaluation. Value-based management that is increasingly in the financial activities of the company hold a guiding position, the companys value depends on its future cash flows of the present value.Vable will be created only when the companys return on capital exceeds cost of capital. The traditional performance metrics can not accurately reflect the companys value creation for shareholders. EVA evaluation index system solves this problem, it makes business value and capital investment together, so it can truly reflect the ability of companies to create value. This article study the background of EVA and significance of this paper introduces the main methods of assessing enterprise value and indicators, in comparison pointed out the superiority of EVA, and further elaborate the content of EVA theory. Large state-owned enterprises in both Baoshan Iron and Steel Company financial data, analysis and calculation of Baoshan in 2008 the main EVA data, is an example that reflects the companys hidden EVA cost of capital, the traditional indicators are very different conclusion. Finally,point out some deficiencies of EVA. Keywords: performance evaluation; EVA; Baoshan Iron and Steel Company 目录 TOC \o 1-3 \h \z \u HYPERLINK \l _Toc 一 引言 PAGEREF _Toc \h 1 HYPERLINK \l _Toc （一）研究的背景和意义 PAGEREF _Toc \h 1 HYPERLINK \