本文選題：經(jīng)濟增加值 + 績效評價　； 參考：《復(fù)旦大學(xué)》2012年碩士論文

【摘要】：企業(yè)價值理論認(rèn)為上市公司的經(jīng)營目標(biāo)是企業(yè)價值最大化,這就要求績效評價方法能夠準(zhǔn)確地反映公司為股東創(chuàng)造的價值。這種情況下,傳統(tǒng)的會計績效評價指標(biāo)因忽視了股權(quán)資本成本而不能用來衡量企業(yè)的價值創(chuàng)造能力,這就需要一種新的績效評價方法來代替日漸落后的會計指標(biāo),于是EVA,全稱為經(jīng)濟附加值的新型績效評價方法就順勢產(chǎn)生。EVA方法最早是1982年由美國的斯特斯滕企業(yè)率先提出的,主要是解決現(xiàn)行績效評價體系的弊端,科學(xué)、合理的表示整個企業(yè)為股東創(chuàng)造的企業(yè)價值。自問世以來,EVA在國外備受關(guān)注并得到成功運用,在國內(nèi)一方面受到理論界的大力推崇,另一方面EVA在實踐中的有效性受到質(zhì)疑。本文的研究目的在于判斷EVA對我國創(chuàng)業(yè)板上市公司的價值創(chuàng)造能力。 文章的核心部分是第三章的實證研究,主要分三部分：描述性統(tǒng)計部分從整體上研究了EVA與傳統(tǒng)會計指標(biāo)的區(qū)別與聯(lián)系；相關(guān)關(guān)系分析則是通過相關(guān)系數(shù)來研究EVA是否與上市公司的價值(MVA)具有正相關(guān)關(guān)系；回歸分析是為了研究EVA對上市公司價值的解釋力的大小。研究結(jié)果表明EVA對我國創(chuàng)業(yè)板上市公司的績效評價是有效的,但是有效性低于傳統(tǒng)的會計利潤,將其與傳統(tǒng)會計指標(biāo)相結(jié)合使用,績效評價結(jié)果將會更優(yōu)。 本文的最后對上述研究的內(nèi)容進行總結(jié),并針對研究結(jié)果提出了一些建議,同時指出本文研究的局限性,為進行下一步研究打下了基礎(chǔ)。
[Abstract]:The theory of enterprise value holds that the aim of the listed company is to maximize the value of the enterprise, which requires the method of performance evaluation to accurately reflect the value created by the company for the shareholders.In this case, the traditional accounting performance evaluation index can not be used to measure the value creation ability of the enterprise because of ignoring the cost of equity capital, which requires a new performance evaluation method to replace the increasingly backward accounting indicators.So EVA, a new performance evaluation method called economic added value, was first put forward in 1982 by the Stursten enterprise in the United States, mainly to solve the drawbacks of the current performance evaluation system.A reasonable representation of the corporate value created by the whole enterprise for its shareholders.Since its birth, EVA has attracted much attention and been successfully applied in foreign countries. On the one hand, it has been greatly respected by the theoretical circles in China, and on the other hand, the effectiveness of EVA in practice has been questioned.The purpose of this paper is to judge the value creation ability of EVA to listed companies in gem.The core part of this paper is the empirical research in Chapter 3, which is divided into three parts: the descriptive statistical part studies the difference and relation between EVA and traditional accounting index;Correlation analysis is to study whether EVA has a positive correlation with the value of listed companies through correlation coefficient, and regression analysis is to study the value of EVA to explain the value of listed companies.The results show that EVA is effective in evaluating the performance of listed companies in gem, but its effectiveness is lower than that of traditional accounting profit.At the end of this paper, the contents of the above research are summarized, and some suggestions are put forward in view of the research results. At the same time, the limitations of this study are pointed out, which lays a foundation for further research.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F275;F832.51

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本文編號：1740684