Research Of Value Improvement Of The CNOOC Engineering Company Based On EVA Momentum

To achieve the maximization of the shareholders' value is the business goal of listed companies,so the indicators of operating performance of listed companies should accurately reflect the level of creating value for shareholders.Traditional profit-related indicators and performance indicators consider the shareholder value as the core,such as economic value added(EVA),which can reflect the operating status and value creation abilities of the company to a certain extent,but the evaluation of the efficiency of the company's value is insufficient.Since the "13th Five-Year Plan",in the face of the complicated and changeable political and economic environment,how listed companies,especially state-owned enterprises,change the way of growth,remain unbeaten in fierce market competition,is the great challenge which each company may face.This requires companies not only to focus on the ability to enhance shareholder value,but also to focus on the efficiency.The economic value added momentum(EVAM)is an improvement indicator of economic added value,which can evaluate the efficiency of the company value growth,providing decision-making ideas on how to improve the efficiency of the company through its trend change.This paper chooses the CNOOC Engineering Company,which experienced the great change of the international crude oil market in 2014,to determine the ability and efficiency of the company's value enhancement by calculating and decomposing the EVA and EVAM of the company from 2011 to 2015.In the meanwhile,this paper also study how this company dealing with the crisis,and give some relevant recommendations of how to improve the efficiency of value making.The paper is divided into the following five parts: The first part is the introduction,mainly elaborates the research background,put forward the main frame of the research.The second part is the literature review,mainly elaborates EVA and EVAM theory.The third part is the case analysis,mainly introduces the company's basic profile and industry background,calculating and analyzing the company's EVA and EVAM.The fourth part analyzes the EVAM of CNOOC Engineering Company,and analyzes its impact on the improvement of corporate value from two aspects: production operation efficiency and market profit efficiency.The fifth part analysis the above data to determine the value of CNOOC Engineering Company to enhance the efficiency of the trend,making the appropriate evaluation,and how to improve the value of its efficiency to give the relevant recommendations.