Study On The Corporate Value Evaluation Based On Value Creation

During the age of value management, the key factor that measures a corporation is succeed or failure is whether it can create value for its shareholders. Therefore the sticking point of corporate performance lies in value increasing and its amounts.The effective performance evaluation is based on the evenhanded and right measuring index for corporate value that drive handlers to create value activities, just under this context, EVA comes with talent showing itself. As far as corporate operating condition during a single period is concerned, EVA is an effective measuring index. But as for value evaluation of corporation with a view to future value creation as a whole, it is so urgent presently that develops a method of corporate value evaluation with using right value measuring index catering to value management. Based on this point, this dissertation has educed a Residual Income model based on EVA after analyzed three existed models at present.This model absorbs merits of discounted cash flow which takes time value of currency into account, and the principle of equal venture and income, contrast to traditional method;it has a different angle of view which is not profit division, but value creation. Meanwhile the index itself of this method belongs to category of performance evaluation. Thus the corporate performance evaluation and value evaluation aren t in the state of division, but amalgamating in the same framework of value creation. It is just essence of value management that sets up direction and incentive of creating value in order to guide people to create value maximum and perpetual.