吉林财经大学
毕业论文
EVA考核与公司价值的相关性研究
学 院 会 计 专业班级 财务管理 1120 学生姓名 梁 昕 学 号 0305112010 指导教师 王 艺 霖 职 称 讲 师
二 ○ 一 五 年 三 月
毕业论文原创性声明
本人郑重声明：所呈交毕业论文，是本人在指导教师的指导下，独立进行研究工作所取得的成果。除文中已经注明引用的内容外，本论文不包含任何其他人或集体已经发表或撰写过的作品成果。对本文的研究做出重要贡献的个人和集体，均已在文中以明确方式标明。本人完全意识到本声明的法律结果由本人承担。
论文作者签名： 年 月 日
摘 要
国内股市经历了暴涨暴跌后，证券市场的普遍的价值评价方法引起了质疑，人们开始寻找目前在中国证券市场上，更加完善的价值评估体系，帮助广大投资者进行理性的投资，并促使我国证券市场逐步走向成熟。国资委将经济增加值引入央企业绩考核体系后，经济增加值在国内的适用性引起了激烈的争论。EVA将股权成本考虑在内，使企业价值体现在企业为股东创造的扣除股权资金机会成本的剩余价值。这种方式改变人们的思维方式，转变企业管理模式，更好地进行业绩评价，有利于我国的股票市场的发展，对维持我国的市场公平也有重大意义。
【关键词】价值评估 EVA 股权成本 股票市场
Abstract
The domestic stock market has experienced rises and falls.Common methods to evaluate the value of securities market has been questioned. Then people began to look for more perfect value evaluation system at domestic stock market to help the investors make rational investment and promote China's securities market gradually matured. After SASAC advised to add economic value added to performance evaluation system of central enterprises, economic value added has caused heated debate on the applicability of domestic. EVA will take the cost of equities into consideration, so that the value of enterprises reflects on the surplus value which is created for shareholders in corporate deducted opportunity cost of equities. This way can change people's way of thinking, change the mode of enterprise management,provide a better performance evaluation, is conducive to the development of China's stock market And it also has a great significance to maintain our market fair .
Keywords: value evaluation economic value added the cost of
equities stock market
目 录
一、绪论
（一）选题背景 ·························································· (1)
（二）国内EVA应用状况 ···································· (1) （三）研究目的与意义 ········································· (2)
二、EVA与公司价值的原理分析 ··································· (3)
（一）EVA的相关原理 ········································ (3) （二）公司价值的相关原理 ··································· (4) （三）EVA与公司价值的理论联系 ························· (5)
三、EVA与公司价值相关性的实例分析 ······················· (6)
（一）具体案例 ·················································· (6) （二）实例分析结果与理论对比 ····························· (7)
四、研究结果与启发 ······················································· (7)
（一）研究结果 ·················································· (7) （二）研究启发 ·················································· (8)
参考文献 ·························································· (9)