基于经济附加值的医药企业业绩评价实证研究

Empirical Research on Performance Evaluation of Pharmaceutical Enterprises Based on Economic Value Added(EVA)

结合行业特点及企业特色,分析EVA在医药企业使用过程中需要调整的部分,以期为经济附加值(EVA)在医药企业的绩效评价中的应用提供参考,弥补传统会计业绩评价方法所带来的局限性。采用上海医药股份有限公司2012—2017年的企业财务报表相关数据,运用EVA业绩指标对企业的经营业绩进行评价,结合行业政策背景对评价结果进行解读。受2014年颁布的'两票制'政策所致,企业2014年业绩受到较大影响,但随后在2015—2017年业绩逐步回稳并持续攀升。相比传统的业绩评价体系,EVA指标体系能够更为真实地站在股东的角度反映企业的业绩。

Based on the industry characteristics and enterprise characteristics,this paper analyses the parts that need to be adjusted in the use EVA in pharmaceutical enterprises,in order to provide reference for the application of EVA in the performance evaluation of pharmaceutical enterprises,and make up for the limitations of evaluation methods of traditional accounting performance.Based on the data of corporate financial statements of Shanghai Pharmaceutical Co.,Ltd.from 2012 to 2017,this paper evaluates the business performance of enterprises by using EVA performance indicators,and interprets the evaluation results in the light of industry policy background.As a result of the'two-vote system'policy promulgated in 2014,the performance of enterprises in 2014 was greatly affected,but in 2015 to 2017,the performance gradually stabilized and continued to rise.Compared with the traditional performance evaluation system,EVA index system can reflect the performance of enterprises more truthfully from the perspective of shareholders.