基于EVA的电力行业上市公司经营绩效评价毕业论文.doc

毕业论文 （20_ _届） 基于EVA的电力行业上市公司经营绩效评价 摘 要 随着我国经济的迅猛发展，我国现行的企业经营绩效评价体系的弊端不断的暴露出来：现行的企业经营绩效评价指标，基本上都是以“会计利润”为基础直接计算出来的，没有考虑到权益资本的成本，而且它基于的会计制度存在很多与股东利益不一致的地方，无法客观衡量股东价值的增长。EVA指标考虑了权益资本的成本并对会计制度造成的经营利润的扭曲进行了校正，能有效衡量股东价值的增长情况以及促进经营者和所有者利益的统一。EVA已经被国外的许多大公司成功的应用，但结合我国国情的EVA研究还处于起步阶段。本文的研究正是想在这个方面做一些有益的探讨。 本文是对前人有关EVA和上市公司经营绩效研究的归纳和总结，通过分析和说明，对什么是EVA，什么是企业经营绩效，以及两者之间的关系进行综述，将当前我国企业经营绩效评价体系的状况展现给大家。同时对EVA和传统财务指标进行了一系列的比较，并通过对深沪两市电力行业上市公司财务数据资料的收集、归纳与分析，指出EVA的优势及不足，最后进行总结。 关键词：Abstract With our countrys rapid economic development, the problems of traditional business operation performance evaluation system are exposing constantly. The index of business operation performance evaluation dont consider the cost of equity capital, because they are computed directly based on accounting profit and there are some difference between accounting profit and benefit of shareholder. EVA consider opportunity cost of equity capital and rectifies the distortions of profit made by accounting principles. Its effective to measure shareholder value added and incent manager to do their best to add shareholder value. EVA has been applied successfully in many companies. But due to the difference of company culture between China and foreign countries, EVA cant be applied to Chinese companies directly. At present, the research on Chinese EVA is still in beginning. My research wants to do some work on it. Based on the predecessor analysis and explanation about the EVA and listed company performance, answering some questions such as what is EVA, what is business operation performance, and the relationship between these two. Comparing EVA with traditional financial index, pointing out the advantages and disadvantages of EVA through collecting the financial data of the two cities of Shenzhen and Shanghai listed company of the electric industry, and summarizing in the end part. Keywords: EVA; Operating Performance; Financial Index目 录 引 言 1 1 EVA的相关理论 2 1.1 EVA的基本概念 2 1.1.1 EVA的发展历程 2 1.1.2 EVA的4M’s 3