The Research On The Enterprise Credit Rating Based On The Key Index System Of The Economic Value Added

EVA (economic value-added) that is applied to measure the enterprise's ability of creating value is introduced by Stern Stewart Management Consulting.Co.,Ltd. it is not only the index of the measurement of a company's performance, but also a framework of overall financial administration.Meanwhile, the results of study indicate EVA can discriminat value of the ST and non-ST listed company and the result is comparatively perfect. Regarding EVA as the breakthrough point and considering comprehension and science of the target investigates on credit rating comments, this paper makes a probe into further and analyzes such key elements as the quality of enterprise, credit of the fund and development of the company ,etc. At last, this paper structures the credit rating system and method of listed company taking economy value-added as key index based on the representative indexes .Empirical analysis finds: the conclusion that the system draws is stronger consistency to the Xinhua Far East grading result announced of listed company. The listed companys which have higher credit mark that is evaluated according to the method, and so, get a relatively high ranking sequencing in Xinhua Far East announced, the opposite is also true. This conclusion has proved value of this method to a certain extent. Meanwhile, the result to the whole credit qualification of listed company is relatively higher.According to this result, enterprises, on one hand, can judge one's own excellent or inferior position faced, on the other hand, to enterprise of the relatively lower rank, can play a certain warning arrivesing role and supervise administrators to strengthen administration dynamics and improve the management method in according to the rank of credit. Meanwhile, the result guides the investment orientation for investors and reduces the investment risk, protects the fund safe for investors to the greatest extent.