Evaluation Index System, Based On Economic Value Added Performance Of Listed Companies

With gradual standardization of the stock market in China, stock prices of listed companies are more and more closely related to their values. However, the present evaluation system of outstanding achievement, with some flaws to be improved, can't efficiently reflect the values of the companies, therefore, it is inappropriate to be used as the reference frame in investment. In this thesis, based on related literatures and practical researches, a new evaluation system of outstanding achievement, with EVA as its basis, has been set up, which is more closely related to the values of the listed companies. The new system has a reference significance on improving the present evaluation state of outstanding achievement of the listed companies, and it also has a reference value on investors' choices.In this thesis, the system of outstanding achievement norm evaluation based on EVA has been built up, in which the methods of the combinations between standardized study and applied study, qualitative study and quantitative analysis, comparative study and comprehensive study are adopted; and through the analysis and evaluation on the present system of outstanding achievement norm evaluation of listed companies in China, some flaws are found out. The main contents of the study are as follows. Firstly, the advantages and disadvantages of EVA are studied, and thus the REVA is decided to be the key norm of evaluating norm system. Secondly, some other important norms are chosen. With the technology of characteristic analysis, evaluation norms which are related to the company's abilities of paying back debts, developing, making profits, managing assets and outside environment are chosen from the norms reflecting the administrative achievement of the company. Of the evaluation norms, the financial norm that can be quantified is a top priority, and at the same time, non-financial norms are adopted to evaluate the influence of the company's outside environment on the companies. Thirdly , data-taking interval and Weight are set, and the experts' judgments are summarized to make the date more reasonable and the use of the model more standard. Fourthly, the application procedure of the system is determined. Proper application procedure can ensure the results of the evaluation norm system more accurate. Fifthly, the new system is applied and analyzed. With Brand Tuo Wine Corporation in Si Chuan Province as the research subject, the evaluation system is put into practice. After the comparative...