Research On The Relationship Between The Performance Of Listed Banks And Investment Based On EVA

Along with the advance of capital market in China, marketization has deepened.At the same time, commercial banks have accelerated the pace of listing. In this situation, the indicators to evaluate the external market performance of listed commercial banks is particularly important and indicators of effectiveness will be widely attention. At the same time of focusing on listed commercial banks, corresponding analysis tools should be introduced to evaluate its external performance and investment value. It has a great significance to introduce economic value-added index evaluation system for listed commercial banks on assessing the bank’s external market performance, measuring the performance of the bank level and confirming the bank’s investment value.This paper generalizes domestic and foreign research achievements about EVA theory system and explains the meaning of the EVA concrete. With the theoretical analysis, it shows that EVA can measure not only the company internal financial performance, but also can evaluate external market performance. In this article, we adopted the relevant data from2009to2013of listed commercial banks (with the exception of Huishang Bank), and the method of using multiple linear regression empirical study analysis of sample data, using the method of multiple linear regression to do empirical analysis on sample data. The result shows us that it is useless to evaluate external market performance of listed commercial bank in China in current situation. At present, Chinese capital market is still imperfect, it still has a big deviation between external market performance and intrinsic value in listed companies, so the EVA can’t be the indicators to evaluate the market performance of listed commercial bank.We use both theoretical research and empirical test two commonly used methods in this paper. In the aspect of theoretical research, combined with the particularity of commercial banks, to use accounting knowledge, targeted EVA model is established. In the empirical test aspect, multiple linear regression is combined with residual income model, CAPM model, Ohlson model, etc. in this article.