EVA Investment Analysis Of China Listed Real Estate Companies Under New Accounting Postulates

The goal of a company is to maximize the benefit. But the company often pays higher agency costs because of the separation of ownership and management,. Since the traditional financial management can't achieve balance between the goals of various managers and front-line staff and those of shareholders and creditors providing capital, it will be chanlenge. Thus it is important to gain interest agreement between the managers an the owners by regulating and motivating the former. A new concept and attempt access to the agreement. Is EVA, i.e.Economic Value Added proposed by Stern Stewart & Co. by the United States 1982, Its core is that benefits can not be created for the shareholders if the gains can not exceed the capital invested. EVA can make agreement between the managers and the capital providers to maximize the values of the company and the shareholders.Since 2000, the rapid development of real estate industry has not only promoted the national and regional economic growth, job opportunity creation and related industries, but also contribute to the government fiscal and tax revenues, people's living standards and social welfare, the quality of urban public goods and the effective use of urban space. So it is very important to have a sustained and healthy development of the real estate industry.. Since the real estate companies reflects up-to-date development of the real estate industry, this thesis is going to analysis the performance of the the liste real estate companies on Shanghai and Shenzhen stocks to give a series of in-depth proposals as a reference for the investors and a valuable evaluation system for the mangers of the listed companies to make the company development strategies.This paper studies the value of listed real estate investment analysis by the method of the theoretical literature and case studies, based on qualitative and quantitative research methods. First of all, the paper describes the implication of EVA management system and the EVA performance evaluation system; secondly, it contains EVA estimate and accounting adjustments under the new accounting standard; thirdly, it describes the development and characteristics of the real estate industry and the financial index system again; fourthly, the paper says the EVA-based performance evaluation system starting on China's Shanghai and Shenzhen stock market performance of listed real estate companies analysis; Finally, it gives some suggestion.