The Research Of The Performance Evaluation Index EVA

EVA (Economic Value Added) is created by Stern Stewart & Company, and it is a type of achievement appraises and management system based on enterprise's market value. It includes all capital cost of enterprises in the achievement while evaluated, and has unified the interests of enterprise owners and managers with the EVA. This system can encourage effectively administration and supervision authorities and the staff while ensuring owner's interests, making greater contribution in improving the company. It already has a lot of successful application of EVA in foreign countries, but the study of EVA combined of our national conditions is only at the starting stage. At present, there is more systematical concept of EVAs, but in practical application, only a few enterprises trying to applying EVA in our country. This text attempts to make EVA more extensive popularization and application in our country by a more systematic analysis to EVA.This article begins from the existing management achievement appraisal system research background, profits from the overseas research results, and explains the development, connotation, adjustment project, adjustment principle, adjustment method and etc of the EVA in detail;it collects 2004 data of assessment of TSINGTAO BREWERY COMPANY LIMITED ,one of earliest Chinese companies using EVA, to explain the calculation process of EVA index ,and it also specifically analysizes the channels and measures to raise EVA. Finally this paper further unifies the actual situation of Chinese enterprises and the problems in Chinese companies while carrying out the EVA application to put forward several proposals on how to make EVA suit our local companies' actual situation.