摘要
经济增加值EVA是一项价值评估指标,与会计利润相比,EVA考虑了全部资本成本,是真正的经济利润。它使管理者和财务人员更关心业绩是否实质上得到了改善,而不仅仅是会计报告的数据。选取51家农业上市公司为研究样本,以农业上市公司年度财务报告为基础,计算各样本公司的经济增加值,运用EVA指标评价农业上市公司经营绩效与价值创造水平,分析样本公司EVA指标升降的影响因素,探寻影响农业上市公司资本创值能力的本质原因。
Economic Value Added (EVA) is an assessment for the value indicators, and compared with accounting profits, it takes all the costs of funds into account including the costs of debt and the opportunity costs of equity capital, which are the actual economic profits. It enables management and financial officers to concern more with whether the eompany's performance substantially improves than with the bare data in the accounting reports. The research selects proper listed agricultural companies as samples, analyzes the financial data in their annual reports, and calculates EVA in these companies from 2004-2006. It aims at the explanations of the function of EVA in an enterprise and the major factors affecting EVA. Among the explanations, are included what kind of effect capital costs produces on EVA, and what we should do to avoid this kind of problem in order to make an actual maximum profit in an enterprise. The empirical analysis shows that economic growth value can overcome the disadvantage of the traditional performance evaluation, and makes an objective and effective assessment on the value of capacity in an enterprise.
出处
《南京农业大学学报(社会科学版)》
CSSCI
2008年第3期44-50,共7页
Journal of Nanjing Agricultural University(Social Sciences Edition)
关键词
农业上市公司
价值评估
经济增加值EVA
创值能力
Listed Agricultural Company
Indicator Value Assessment
Economic Value Added (EVA)
Value of Capacity