The Research Of Listed Company For The Performance Assessment Of EVA Index In Our Country

In our country, the traditional indexes of the profit, such as EPS,ROE, have been a standard of weighing the performance of listed company all the time. Company administration and supervision authorities also regard these indexes as their primary operation target and motivation assessment criteria. But with the change of social economic condition, these indexes receive extensive criticism day by day. Their main defects is lain in having too many restrictions of revealing financial data to outside, not embracing the enterprise's actual capital cost, apt to leading to the administration and supervision authorities act and effort for expediency and exist space of surplus manipulation.In 1980s, Stern Stewart, co-An American consulting company introduced a new standards of measurement-EVA (Economic Value Added) in company value assessment and management field which their called it "the real key to creating Wealth". As a new value assessment system, EVA has advantage over traditional indexes in the aspect of company value assessment, business efficiency and capital operation efficiency appraisement, incentive system construction. Compared with other indexes, the most important characteristics of EVA is to redefine the enterprise profit in terms of shareholder, consider the cost of all capital that the enterprise invests, so it can reflect the business performance truer. In just 20 years, EVA index has already got extensive application in U.S.A. and even world capital market, become a competitive index of enterprise capital operation efficiency appraisement.However, EVA is still fresh things in our country, most investors and listed company's administration and supervision authorities are very indifferent to the cost of equity capital theories now. Up till now, in china, there is no monograph and...