基于eva价值评估模型在企业应用探讨.doc

毕业设计（论文）说明书 课题名称 _基于EVA的价值评估模型 在企业的应用探讨 摘 要 本文在国内外相关研究的基础上，选用理论分析与实例分析相结合方法，以EVA指标为主要线路，来探讨在我国上市公司价值评估方法中EVA价值评估模型的运用情况。首先简要的介绍了经济增加值EVA相关理论和计算方法，然后在对EVA理论进行基础的了解和熟悉，把EVA引入企业价值评估模型中，结合相关竞争均衡的理论和企业未来的发展情形后，分析预算未来EVA运用最多的两阶段增长模型和三阶段增长模型，并介绍EVA企业价值评估方法的优点以及局限性，再通过以中兴通讯股份有限公司为例来探讨基于EVA在我国上市公司价值评估中的运用，用其近五年的财务数据来做基础，并综合考虑未来期间全球以及国内经济的发展趋势，对该公司未来几年的EVA进行估算，以及对得出的评估结果进行分析与评价。本文基于EVA价值评估模型在企业的应用探讨，不仅提高了投资者以及管理者的决策能力，也能为我国的企业价值评估实务工作过程中提供一些参考的方法。因此，加深对EVA价值评估模型的研究，探究其在我国企业的应用方式，具有非常重要意义。 关键词: 企业价值评估；经济增加值（EVA)；资本总额；税后净营业利润 ABSTRACT In this paper, on the basis of related research at home and abroad, selects the combination of theoretical analysis and case analysis method, EVA index as the main line, to explore the value of listed companies in our country the use of the assessment method of EVA value evaluation model. First briefly introduced the economic value added EVA theories and calculation methods, and then based on EVA theory to understand and familiar with, introduce the EVA enterprise evaluation model, combined with related competition equilibrium theory and the enterprises future development situation, draw two phase model of EVA value evaluation model suitable for zte co LTD，the future EVA budget, and introduces the advantages and limitations of EVA enterprise evaluation method, then by zte co, LTD as an example to discuss evaluation of listed companies based on EVA in our country, with its nearly five years of financial data for foundation, and comprehensive consideration during the future development trend of the global and domestic economy, to estimate the companys EVA in the next few years, as well as to the analysis and evaluation of the evaluation results. Application based on the EVA value evaluation model of the enterprise, not only improve the ability of investors and managers decision making, can also in the process of enterprise value assessment prac