Citic Securities Is Based On The Internal Corporate Governance Of The Eva Value Management Study

After entering the WTO, the date of the entirely opening of China's securities market is in sight. It is urgent that the domestic security business seeks the effective way to gain access to persistent development in the internationally competitive environment. The background of this paper is CITIC Securities Co. , 1td., a representative company in the securities business. To solve the problems on implementing aggressive strategy, business expansion and resources integration the company should construct a set of advanced management system to support the strategy. Then the EVA corporate governance system, a universally influencing Value-based Management system is inducted. After systematic expatiating and analyzing, combined with the concrete managerial environment, the application of the EVA system is designed and researched. Meanwhile, further positive research is made on the theory.First, efforts are made to get a panorama of the theory for it is not long since the EVA system was introduced to China, which is in continuous revising and developing by absorbing the latest work of other theories. Second, the research emphasizes the essentials other than the theory itself. In the designing of the departmental performance evaluation and incentive system, the obstacle caused by the complicated calculation of the departmental capital cost is eliminated by the ascertainment and adjusting of the coefficient A and B of the cash dividend. Simultaneously, the EVA dividend plan is accorded with the current salary-incentive system of the company. At last, A preparatory research in the application of the EVA corporate governance system in the domestic securities company is completed. The thoughtway, the methods, the defects and even the mistakes of the designing project, offer some references for the companies that want to improve their competence by implementing theEVA system.