發(fā)布時(shí)間：2018-01-15 09:01

  本文關(guān)鍵詞：基于EVA的我國(guó)上市核電關(guān)聯(lián)企業(yè)業(yè)績(jī)?cè)u(píng)價(jià)研究　出處：《南華大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

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【摘要】：國(guó)家核電發(fā)展中長(zhǎng)期規(guī)劃在客觀上為核電關(guān)聯(lián)企業(yè)的崛起創(chuàng)造了一個(gè)歷史性的機(jī)遇。然而，隨著社會(huì)的前進(jìn)和經(jīng)濟(jì)的發(fā)展，以利潤(rùn)為核心的傳統(tǒng)業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo)體系現(xiàn)已不能滿足我國(guó)核電關(guān)聯(lián)企業(yè)績(jī)效評(píng)價(jià)的需求，缺乏戰(zhàn)略性全面績(jī)效評(píng)價(jià)，核電關(guān)聯(lián)企業(yè)的股東資本投入利用率及資本的預(yù)期合理收益不能有效反映。是否能夠成功抓住這次機(jī)遇，需要提高目前核電關(guān)聯(lián)企業(yè)的績(jī)效評(píng)價(jià)體系效用。近年來(lái)，EVA作為一種新型業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo)，在西方企業(yè)業(yè)績(jī)?cè)u(píng)價(jià)體系中已成功得到運(yùn)用，如IBM、可口可樂(lè)、通用和西門子公司等。我國(guó)自引入EVA概念以來(lái)，國(guó)內(nèi)企業(yè)也逐漸運(yùn)用EVA作為其業(yè)績(jī)考核的重要方法，到2010年，國(guó)資委正式頒布了以EVA為核心的中央企業(yè)負(fù)責(zé)人經(jīng)營(yíng)業(yè)績(jī)考核暫行辦法。 本文首先通過(guò)文獻(xiàn)研究法，對(duì)EVA業(yè)績(jī)?cè)u(píng)價(jià)方法進(jìn)行文獻(xiàn)回顧，界定核電關(guān)聯(lián)企業(yè)和業(yè)績(jī)?cè)u(píng)價(jià)的定義，闡述業(yè)績(jī)?cè)u(píng)價(jià)方法的歷史演進(jìn)、對(duì)三種主要業(yè)績(jī)?cè)u(píng)價(jià)方法運(yùn)用比較方法分析，并對(duì)經(jīng)濟(jì)增加值（EVA）的涵義、本質(zhì)、優(yōu)缺性及EVA指標(biāo)的計(jì)算方法進(jìn)行分析，為本文研究提供理論依據(jù)。其次，采用實(shí)證分析方法，分析我國(guó)上市核電關(guān)聯(lián)企業(yè)的業(yè)績(jī)?cè)u(píng)價(jià)狀況及運(yùn)用EVA的必要性，以48家我國(guó)上市核電關(guān)聯(lián)企業(yè)2010-2012年的數(shù)據(jù)為樣本，通過(guò)實(shí)證，檢驗(yàn)上市核電關(guān)聯(lián)企業(yè)的EVA指標(biāo)相比于傳統(tǒng)業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo)，是否與代表企業(yè)價(jià)值的MVA指標(biāo)有更強(qiáng)的相關(guān)性，是否對(duì)企業(yè)價(jià)值有更優(yōu)的解釋能力；得出在我國(guó)上市核電關(guān)聯(lián)企業(yè)中，EVA比以利潤(rùn)為核心的業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo)體系更有效，但它對(duì)企業(yè)價(jià)值的解釋力度不是很高，才43%，可能是未考慮非財(cái)務(wù)因素對(duì)企業(yè)績(jī)效的影響。最后，在實(shí)證研究結(jié)論的基礎(chǔ)上，，設(shè)計(jì)一種將EVA、杜邦分析法和BSC三者相互融合的綜合企業(yè)業(yè)績(jī)?cè)u(píng)價(jià)體系的構(gòu)建方法，以期更為完善我國(guó)核電關(guān)聯(lián)企業(yè)業(yè)績(jī)?cè)u(píng)價(jià)效果。 EVA反映的是企業(yè)的經(jīng)濟(jì)利潤(rùn)，是真正的企業(yè)利潤(rùn)，相對(duì)于傳統(tǒng)業(yè)績(jī)?cè)u(píng)價(jià)指標(biāo)，具有一定優(yōu)勢(shì)。在核電業(yè)積極發(fā)展的今天，研究基于EVA的我國(guó)上市核電關(guān)聯(lián)企業(yè)績(jī)效評(píng)價(jià)體系，具有理論和實(shí)踐意義，不僅有利于完善、發(fā)展EVA理論體系和企業(yè)業(yè)績(jī)?cè)u(píng)價(jià)體系，又有利于正確認(rèn)識(shí)我國(guó)核電關(guān)聯(lián)企業(yè)的經(jīng)營(yíng)業(yè)績(jī)及內(nèi)在價(jià)值，引導(dǎo)我國(guó)核電關(guān)聯(lián)企業(yè)科學(xué)發(fā)展。
[Abstract]:The national nuclear power development medium- and long-term planning objectively creates a historic opportunity for the rise of nuclear power associated enterprises. However, with the progress of society and economic development. The traditional performance evaluation index system with profit as the core has been unable to meet the needs of performance evaluation of nuclear power associated enterprises in China and lacks of strategic comprehensive performance evaluation. The utilization rate of shareholders' capital input and the expected reasonable return of capital in nuclear power affiliated enterprises can not be effectively reflected. Whether or not they can seize this opportunity successfully. In recent years, as a new performance evaluation index, it has been successfully used in western enterprise performance evaluation system, such as IBM. Since the introduction of the concept of EVA in China, domestic enterprises have gradually used EVA as an important method of performance evaluation, until 2010. SASAC formally promulgated the EVA as the core of the central enterprise management performance assessment measures. This paper firstly reviews the EVA performance evaluation method through literature research, defines the definition of nuclear associated enterprises and performance evaluation, and expounds the historical evolution of performance evaluation method. The comparison method is used to analyze the three main performance evaluation methods, and the meaning, essence, advantages and disadvantages and the calculation method of EVA index of economic added value are analyzed. Secondly, the empirical analysis method is used to analyze the performance evaluation of listed nuclear power related enterprises in China and the necessity of using EVA. Taking the data of 48 listed nuclear power associated enterprises from 2010 to 2012 as a sample, this paper tests the EVA index of listed nuclear power associated enterprises compared with the traditional performance evaluation index. Whether there is a stronger correlation with the MVA index which represents the enterprise value, and whether it has better explanation ability to the enterprise value; It is concluded that EVA is more effective than the performance evaluation index system with profit as the core in listed nuclear power associated enterprises in our country, but its explanation of enterprise value is not very high, only 43%. It may be that the impact of non-financial factors on corporate performance is not considered. Finally, on the basis of empirical research conclusions, we design a kind of EVA. In order to perfect the performance evaluation effect of China's nuclear power associated enterprises, a comprehensive enterprise performance evaluation system based on DuPont analysis and BSC is constructed. EVA reflects the economic profit of the enterprise, is the real enterprise profit, compared with the traditional performance evaluation index, has certain advantages, in the nuclear power industry positive development today. It is of theoretical and practical significance to study the performance evaluation system of listed nuclear power associated enterprises in China based on EVA. It is not only beneficial to perfect and develop the EVA theory system and enterprise performance evaluation system. It is also helpful to correctly understand the business performance and intrinsic value of our country's nuclear power associated enterprises and guide the scientific development of our country's nuclear power associated enterprises.
【學(xué)位授予單位】：南華大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F426.23;F426.61;F224

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本文編號(hào)：1427652