经济增加值为核心的企业价值管理体系研究

Enterprises value management system with core of economic value added

企业的管理目标是股东价值最大化,因此经营业绩的衡量就必须反映股东价值。传统的会计利润及相关指标并不能真正反映股东的价值创造,因为它们不仅忽视了权益资本成本,而且受到会计准则的制约,容易导致价值的扭曲。因此,考虑权益资本成本的EVA管理模式无论在理论界还是在企业界都得到了极大的推广和运用,甚至有学者称之为“EVA革命”。本文从经济增加值的概念出发,全面分析了经济增加值的特点,从而延伸到经济增加值管理体系的研究。

Enterprise's management goal is the shareholder value maximization,therefore the management achievement weight must reflect the shareholder value.Traditional accountant profit and index of correlation certainly cannot truly reflect shareholder's value creation,because they not only neglect the rights and interests capital cost,but also receives restriction of accountant criterion,is easy to cause value distortion.Therefore,the EVA management pattern considers the rights and interests capital cost regardless of in the theory or in the enterprise all obtain enormous promotion and utilization,even some scholars call it "EVA revolution".From the economy increase, comprehensively analyzed characteristics of the economic value added,thus extended to research management system of economic value added.