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论文编号：	4084
作者编号：	2220100844
上传时间：	2012/3/15 14:26:39
中文题目：	天津航空机电有限公司基于EVA的绩效评价研究
英文题目：	The Research of Performance Evaluation System Based On Cost and Revenue Model For Tianjin Aviation Electro-Mechanical Co., Ltd
指导老师：	李莉
中文关键字：	绩效评价，经济增加值，传统评价指标，天津航空机电有限公司
英文关键字：	Performance Evaluation, EVA, Traditional Standards for Performance Evaluation, Tianjin Aviation Electro-Mechanical Co. Ltd
中文摘要：	21世纪，企业的财务目标由利润最大化向价值最大化转变。如何寻找合适的绩效评价指标来评估企业是否达到价值最大化，并在此基础上建立激励机制，使得经营者和股东的目标一致，朝着股东财富最大化的目标努力，是一个很重要的问题。经济增加值法(EVA)自美国Stem &Steward公司提出以来，在西方发达国家造成了巨大的影响，获得了一定程度的成功。我国企业尚未建立起价值最大化的思想理念，EVA方法的应用还有待进一步发展。为了给EVA的应用提供理论支持，本文着重研究了在评价我国上市公司绩效中的有效性问题：EVA是否与以市场增加值(MVA)为代表的公司的市场价值存在相关性，是否比传统的绩效评价指标更有相关性。本文在根据2007年开始实施的新会计准则对EVA进行合理的会计调整后，提出了EVA的计算方法，介绍了EVA体系中的相关指标如每股经济增加值EVAPS、未来增长价值FGV、当前营运价值COV。然后提出了绩效评价指标优劣的标准，将传统绩效评价指标的分成三类：基于会计收益的指标、基于剩余收益的指标和基于现金流的指标，根据绩效评价指标优劣的标准三类指标对的各项优缺点一一分析，并将EVA指标和传统绩效指标进行比较，发现EVA在价值度量性、与企业的战略相关性、绩效评价的准确性、与股东利益的一致性等方面均存在着明显优势。在此基础上，本文以天津航空机电有限公司为例，结合该公司的实际情况，通过引入EVA指标衡量企业绩效过程中与传统绩效评价体系的对比，得出进一步改进的方法与步骤，对于公司实现战略目标具有积极的作用。
英文摘要：	21st century enterprise financial goals changed from the maximum profits to maximize the value. How to find the right performance evaluation to assess whether the maximize value, on the basis of the establishment of incentive mechanisms enable managers and shareholders of consistent efforts towards the goal of maximizing shareholder wealth, is a very important issue. Economic value added EVA from the United States since the Stem&Steward company, had a great impact in Western developed countries, with a certain degree of success. Ideas for maximizing the value of companies established in China, EVA method of application requires further development. To provide theoretical support for application of EVA, this article has focused on the evaluation of the effectiveness of the performance of listed companies in China issues: EVA is represented by the market value added MVA correlation between the market value of the company, is more relevant than traditional performance evaluation. This article in accordance with new accounting standards starting from 2007 the EVA to be reasonable after the accounting adjustment, made a calculation method of EVA, introduced the EVA system for related indicators such as economic value added EVAPS per share, future growth, FGV, current trading value COV of value. And made has performance evaluation index merits of standard, will traditional performance evaluation index of into three class: based on accounting income of index, and based on remaining income of index and based on cash flow of index, under performance evaluation index merits of standard three class index on of the advantages and disadvantages all analysis, and will EVA index and traditional performance index for comparison, found EVA in value measure sexual, and enterprise of strategy correlation, and performance evaluation of accuracy, and shareholders interests of consistency, aspects are exists with obvious advantage. On this basis, this case study of Tianjin air power company, combined with the actual situation of the company, through the group index measure business performance in the process of introduction of EVA and traditional performance evaluation system of comparison, that the methods and steps for further improvement, has a positive role for the group to achieve strategic objectives.
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