Study On The Application In Enterprise's Achievement Appraisal Of Economic Value-added

Taking the shareholder wealth maximization as the goal of the enterprise financial management has become one viewpoint that the financial management theorists and Practices accept generally. Since the enterprise takes increasing the value as a goal, how measures its added value that becomes the focal point of all quarters' attention? Simple and the direct means is calculating its market value added (MVA, Market Value Added), Namely the market company's market value subtract the enterprise complete capital investment. But, the MVA very difficultly uses in the daily management. After massive research, people found that EVA (Economic Value Added, Hereafter refers to as EVA) possibly to explain the change of the MVA. Since the previous century's end, stern& Stuart consulting company (EVA brand inventor) firstly proposed the concept of EVA, and successfully applied EVA more than 300 enterprises in the global. Since 2001, stern& Stuart consulting company (China) also mainly bases on the EVA target to take "china market company wealth creation and deconstruction ranking". EVA belongs to the expansion of the traditional financial index, though EVA evaluation index and traditional financial index have certain similarity, but superior to the traditional financial index notably. With our country's traditional performance evaluation index -The financial index is compared; EVA can appraise and encourage uniting with the bonus the investment decision, performance of enterprises. EVA is it increase EVA to orientate financial management objectives of enterprise as, and in order to have increase of EVA as standard and yardstick that business performance appraise of investment decision, formulation of incentive system can according to create how much EVA is it confirm to come too. This makes this kind of enterprise management and administration of creating the idea on the basis of value of EVA simple, direct and having logical consistency.This article mainly takes the EVA target as the research object, and takes YZZ Paper Company as the example, and analyses traditional performance appraise weak point of system, and points out theplace that the traditional financial mode performance appraise system must improved. Through think detailed exposition of method to EVA performance appraise, proved EVA performance appraisal system become of our country enterprise performance appraise reality and must be only one choose. Utilize EVA evaluation index to carry on real example analysis to YZZ paper company's business performance, state the superiority of EVA index in appraising company's business performance further, put forward some questions that should be paid attention to while non- listing enterprise EVA calculate and analyze. Along with the our country market economy unceasing consummation, more and more companies will take the value creation as the company idea, taking the enterprise value maximization as the goal, using EVA carries on the performance appraisal and the enterprise operation, creating more wealth for the shareholder and the society!...