Study On Ralationship Of Liability Structure And Economic Value Added

Our Present internal performance evaluation index system mainly based on accounting profit to the financial statements of the relevant indicators as the core, this totally pursuit of profits and increased capital ignoring of the value creation obviously deviate maximizing interest of shareholders and the implementation of management of real departure from the modern enterprise system. The two major stakeholders in the enterprise creditors and shareholders are the two contradictory unity of the body, survival and development of enterprises play a decisive role. EVA is a corporate balance sheet and income statement of the comprehensive examination, the core is the capital investment has a cost, corporate earnings is only higher than the cost of capital will create value for shareholders. The shareholder rights and interests can be well reflected by EVA indicators, therefore, research and corporate debt structure the relationship between economic value added will be able to reflect an enterprise's overall relationship between the creditors and shareholders. It is with this need, we introduce the EVA approach, focusing on internal performance evaluation of the design study to examine the current lack of evaluation index system to agency theory, behavioral science theory, systems theory and the theory of economic profit guidance to study China's listed companies to explore the balance between structure and EVA. This performance evaluation system within the manufacturing sector improved, business owners and various business units to make the right decisions is of great significance.Firstly, the paper summarizes the results at home and abroad on the internal status of evaluation and research EVA, forming the theoretical foundation for the study below, which Provides the theoretical support and guidance.Secondly, the three hypotheses test asset-liability ratio and EVA, debt ratio and EVA and commercial credit and business relationship between EVA. And then using multiple linear regression verification design and modeling.Finally, the paper get a conclusion and application prospects of EVA, and raise Policy recommendations.