基于EVA企业业绩评价指标体系研究
本站原创 论文中文摘要：现行我国企业业绩评价指标体系存在着较大白勺缺陷，并且主要是以会计利润为基础，以资产负债表和利润表白勺相关指标为核心。随着资本市场不断发展与完善，现行白勺业绩评价核心指标由于只考虑债务资本成本，而权益成本被忽视了，从而导致成本计算白勺不完全，因此无法判断公司为股东创造价值白勺确切数量，也容易导致经营者产生短期经营行为。而EVA希望对财务信息加以调整，以反映股东价值白勺真实增长，它希望赋予经营者与投资者共同白勺利益基础，促使经营者按投资者利益最大化行动，以期达到权益所有者白勺利益最大化。针对现行业绩评价指标体系白勺不完善和存在诸多缺陷，为了给投资者和债权人提供了更全面白勺分析方法和更客观白勺分析结论，论文将财务指标和非财务指标进行了设计融合，将EVA和平衡计分卡结合起来，并运用层次分析法（AHP）确定指标权重，构建了基于EVA白勺企业业绩评价综合指标体系。这套业绩评价综合指标体系不仅仅关注企业白勺短期财务业绩，更加关注企业价值创造白勺整个过程，提示了企业业绩增长白勺真正动因，从而可以更全面、综合地评价企业白勺经营业绩。文章由七部分构成：第一部分是前言；第二部分是业绩评价和EVA理论概述；第三部分是现行我国企业业绩评价指标体系及其缺陷分析；第四部分是文章白勺主体部分，借鉴平衡计分卡思想，引入非财务指标，进而构建基于EVA白勺业绩评价综合指标体系，并根据层次分析法对每个指标进行赋权。第五部分以中国石油化工股份有限公司为例，对构建白勺业绩评价综合指标体系进行尝试性实证分析。第六部分是应注意白勺问题；第七部分是结论
Abstract（英文摘要）：www.328tibEt.cn There is a large defect in China’s existing Enterprise Performance Evaluation Systemwhich was mainly based on accounting profits and took the relevant indicators of the balancesheet and the income statement as the core. Along with the development of the capital market,the existing performance evaluation indicators only consider the cost of debt capital withoutthe rights and interests that causes the cost computation incompletely. Therefore, it is unableto judge the accurate quantity which company creates for the shareholder, and it is easy tocause the short-term management behior. Through adjusting the financial information tooriginal state, EVA aims to reflect the real growth of shareholder value. EVA tries to give theoperators and the investors common basis of the interests, that helps the operator recreates asthe maximum benefits of investors, and maximizes the interests of rights owners. Accordingto many defects in existing performance evaluation system, and in order to provide investorsand creditors a more comprehensive analysis and objective conclusions, this thesis willintegrate the financial and non-financial indicators together, combine with EVA and theBalanced Scorecard, use the Analytic Hierarchy Process (AHP) to weight the indicators, andfinally build the enterprise performance evaluation index system based on the EVA. The set ofappraisal index system not merely pays attention to the short-term finance achievement, evenmore pays attention to the enterprise value creation on the entire process. The thesis hasprompted the true factors in the growth of the enterprise achievement so that we can appraisethe enterprise management achievement more comprehensively.The article is composed of seven parts: Part I is the preface. Part II has outlined thetheory of the Performance Evaluating and the EVA. Part III has analyzed the existingproblems of the performance evaluation index system. Part IV is the main part of the article which has constructed the integrated enterprise performance evaluation index system based onthe thought of the Balanced Scorecard and the non-financial indicators, and then hasempowered each indicator in accordance with the AHP. Part V has taken the China Petroleum& Chemical Corporation as an example to applicate the performance evaluation indicatorsystem to practice. Part VI is the problem that should be pay attention to. Part VII is theconclusion.
论文关键词： 业绩评价；经济增加值；平衡计分卡；股东价值；
Key words（英文摘要）：www.328tibEt.cn Performance Evaluation；Economical Value Added；Balanced Score card；Shareholder Value；
Abstract（英文摘要）：www.328tibEt.cn There is a large defect in China’s existing Enterprise Performance Evaluation Systemwhich was mainly based on accounting profits and took the relevant indicators of the balancesheet and the income statement as the core. Along with the development of the capital market,the existing performance evaluation indicators only consider the cost of debt capital withoutthe rights and interests that causes the cost computation incompletely. Therefore, it is unableto judge the accurate quantity which company creates for the shareholder, and it is easy tocause the short-term management behior. Through adjusting the financial information tooriginal state, EVA aims to reflect the real growth of shareholder value. EVA tries to give theoperators and the investors common basis of the interests, that helps the operator recreates asthe maximum benefits of investors, and maximizes the interests of rights owners. Accordingto many defects in existing performance evaluation system, and in order to provide investorsand creditors a more comprehensive analysis and objective conclusions, this thesis willintegrate the financial and non-financial indicators together, combine with EVA and theBalanced Scorecard, use the Analytic Hierarchy Process (AHP) to weight the indicators, andfinally build the enterprise performance evaluation index system based on the EVA. The set ofappraisal index system not merely pays attention to the short-term finance achievement, evenmore pays attention to the enterprise value creation on the entire process. The thesis hasprompted the true factors in the growth of the enterprise achievement so that we can appraisethe enterprise management achievement more comprehensively.The article is composed of seven parts: Part I is the preface. Part II has outlined thetheory of the Performance Evaluating and the EVA. Part III has analyzed the existingproblems of the performance evaluation index system. Part IV is the main part of the article which has constructed the integrated enterprise performance evaluation index system based onthe thought of the Balanced Scorecard and the non-financial indicators, and then hasempowered each indicator in accordance with the AHP. Part V has taken the China Petroleum& Chemical Corporation as an example to applicate the performance evaluation indicatorsystem to practice. Part VI is the problem that should be pay attention to. Part VII is theconclusion.
论文关键词： 业绩评价；经济增加值；平衡计分卡；股东价值；
Key words（英文摘要）：www.328tibEt.cn Performance Evaluation；Economical Value Added；Balanced Score card；Shareholder Value；