The Valuation Analysis Of Chinesse Listed Commercial Banks Based On EVA Model:ICBC

With the adjustment of economic structure and the financial disintermediation,the impact of the Internet Finance,the interest rate marketization,the upgradtion of regulation,and the customer demand diversification,we have the urgent need for the value of commercial banks are more scientific and more reasonable assessment.There are two reasons:one is that the commercial banks in the capital of pressure,steady growth and financial sources of debt under the background of the disintermediation,rely on the extensive expansion of the "balance sheet" and a high degree of homogeneity of business strategy is not sustainable,the traditional development mode of the blind pursuit of market share and asset size of the traditional can not adapt to the new normal.In the current market environment,the market should be more scientific The evaluation method more comprehensively reflect the market value is two.In the third Plenary Session of the 18 th CPC Central Committee,the Central Party committee has made comprehensive arrangements for the reform of state-owned enterprises including state-owned commercial banks,issued a "decision of the CPC Central Committee" on deepening reform of the overall number of major issues,that "more ownership of state-owned economy and other economic development allowed to become mixed ownership the economic system".Through the mixed ownership reform,commercial banks can further improve the internal governance mechanism,strengthen the external constraint mechanism,to further improve the absorption to resist risk ability,and promote the healthy development of the entire financial system and improve service efficiency in.2016 7 July,bank announcement,said it is actively deepening the reform of mixed ownership,feasible scheme to improve the internal governance mechanisms,the banking industry started the first shot mix change.To further improve the banking financial institution ownership reform,and promote the healthy development of the banking industry,the basic work is to evaluate accurately on the commercial bank the performance and value.Therefore,the use of value evaluation system of scientific and reasonable value for banks is particularly important.Under the new economic normal,accounting evaluation system of commercial banks has not fully adapted to the valuation of commercial banks,easily lead to short-term management behavior and have some space for earnings management.EVA management system has been introduced to many enterprises at home and abroad,indicate that the EVA has advancedguidance,can encourage enterprises to create greater value.To reflect the introduction of commercial banks EVA valuation model is able to carry on the real value of the bank,and contribute to the realization of evaluation and management decision reflect the real value of organic unity,the growing commercial bank enterprise value,promote commercial banks to further The deepening of reform and development.Therefore,based on the EVA value theory and enterprise value theory,combined with the characteristics of listed commercial banks,the EVA theory is applied to the evaluation system of the value of the bank,and an empirical description and analysis through the case.This paper takes Industrial Commercial Bank of China Ltd as an example,research on the theory and model of EVA value evaluation and hope to improve their operations and improve the ability of value creation,and puts forward some suggestions for our country commercial bank value management.ICBC is China's largest state-owned commercial bank,the completion of the first A+H shares listed on the ten years ago,has milepost like significance in the development of China's reform of state-owned banks and the history of the capital market.This paper takes ICBC as an example,research on the theory and model of EVA value evaluation.Firstly,explains the introduction the related theories of EVA,discusses the EVA research background and significance,the enterprise value assessment and economic value added evaluation research at home and abroad to discuss clues.Then the EVA in the enterprise value evaluation assessment of the adjustment and commissioning for commercial banks,And the EVA model of commercial banks is analyzed and constructed.Secondly,the ICBC for the research on the evaluation of EVA value through the analysis of examples,introduces the history and performance of ICBC,ICBC to evaluate the enterprise value,mainly divided into single stage and two stage EVA enterprise evaluation of ICBC,EVA model the actual application shows.Finally based on the existing problems and puts forward through the establishment of incentive mechanism,improve the quality of assets and the construction of EVA corporate culture is proposed.