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论文编号：	11078
作者编号：	2320170767
上传时间：	2019/12/5 18:27:12
中文题目：	基于EVA的X生物医药公司业绩评价研究
英文题目：	Research on performance evaluation of X biopharmaceutical company based on EVA
指导老师：	张继勋教授
中文关键字：	经济增加值；生物医药企业；业绩评价
英文关键字：	Economic Value Added；Bio-pharmaceutical Industry；Performance Evalution
中文摘要：	随着我国经济社会的发展，生物医药企业的内外环境都发生了翻天覆地的变化，机遇与挑战并存。由于生物医药行业和人民生活息息相关，因此必须要解决如何对生物医药企业的经营业绩进行客观合理的评价这一问题，增强其竞争力。目前采用的业绩评价体系主要是以会计利润为核心的传统业绩评价指标，由于计算评价过程中没有考虑到资本成本，造成不能够客观真实反映企业业绩，进而对企业管理水平的改善以及预期目标的实现产生直接的影响。相比之下，EVA指标在原有的会计利润指标基础上，结合企业实际进行调整，综合分析了企业投入的资本成本和债务成本，从而更准确地对企业的业绩进行衡量。 本文从股东视角出发，对X生物医药公司基本情况、现行业绩评价体系进行了分析，认为现行业绩评价体系存在业绩评价指标设计单一且目标不明确、未考虑权益资本成本、忽视了研发投入方面的评价三大问题，不能够客观反映企业真实业绩。基于X生物医药公司资本结构变化较大等特点，本文认为EVA指标能够更为客观评价X生物医药公司业绩情况，并构建了基于EVA指标的生物医药企业业绩评价体系。通过比较分析，认为在X生物医药公司采用EVA指标有效避免了传统业绩评价指标高估企业经营情况，更为客观。同时，本文提出了推行基于EVA的业绩评价体系的保障措施。
英文摘要：	With the development of China's economy and society, the internal and external environments of biomedical enterprises have undergone earth-shaking changes, resulting in the coexistence of opportunities and challenges. Since the biomedical industry is closely related to people's lives, it is necessary to solve the problem of how to objectively and reasonably evaluate the performance of biopharmaceutical companies to enhance their competitiveness. Currently, the performance evaluation system is mainly based on the conventional performance evaluation index with accounting profit as the core. As the capital cost is not taken into account in the process of calculation and evaluation, it is impossible to objectively and truly reflect the performance of the enterprise, and thus the improvement of the management level of the enterprise and the expected goal. Implementation has a direct impact. In contrast, the EVA indicator is based on the original accounting profit indicator, combined with the actual adjustment of the enterprise, comprehensively analyzes the capital cost and debt cost invested by the enterprise, so as to more accurately measure the performance of the enterprise. From the perspective of shareholders, this paper analyzes the basic situation and current performance evaluation system of X Biopharmaceutical Company, and believes that the current performance evaluation system has three major problems: the design of performance evaluation indicators is single and the objectives are not clear, no consideration of cost of equity capital, and neglect of evaluation of research investment. Can not objectively reflect the true performance of the company. Based on the characteristics of X biopharmaceutical company's capital structure changes, this paper believes that EVA indicators can more objectively evaluate the performance of X biopharmaceutical companies, and build a biomedical enterprise performance evaluation system based on EVA indicators. Through comparative analysis, it is considered that the use of EVA indicators in X Biopharmaceuticals effectively avoids the traditional performance evaluation indicators to overestimate the business operations of the enterprises, and is more objective. At the same time, this paper proposes the safeguard measures to implement the EVA-based performance evaluation system.
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