摘要
创值 ,又被人们称为经济增加值 (EVA) ,等于税后净营业利润与全部资本成本之间的差额。EVA财务管理系统是由美国纽约斯特按恩·斯图尔特咨询公司 (SternStewart&Co .)所提出的一种业绩评价与激励系统 ,它的目的在于使公司管理者以股东价值最大化作为其行为准则。以EVA的理论和思想为基础 ,建立创值评价指标体系 ,并与相应的净利润评价指标体系进行比较 ,试图对上市公司的评价指标体系进行有益的补充。
EVA (Economic Value Added) is the difference between after-tax profits and the capital costs. EVA Financial Management System, put forward by Stern Stewart & Co. in America, is a kind of appraising and inspiring system for enterprises, whose purpose is to make the managers take value of shareholders maximization as their behavior criterion. Based on the EVA theories and thoughts, this paper establishes the EVA appraisal systems and tries to complement the net profit appraisal system through comparison between them.
