Research On EVA Performance Evaluation Of High-tech Enterprises

Due to the continuous development of market economy in China,the competition between enterprises is becoming more and more intense.Enterprise how to foothold in the market,how to enhance competitiveness and enterprise how to become healthy development,has become the enterprise investors,managers and other stakeholders care problems.Therefore,as a way to understand their own operating conditions,extensive attention has been paid to the performance evaluation.In the economic modernization of today,people gradually realized that the traditional concern of corporate profit performance evaluation indicators do not apply to the current market economy.The economic value added(EVA)considers the equity capital cost,reflects the true economic profit,has solved this problem.When EVA is developed in western developed countries,it has been introduced into China,so far,China's theoretical and practical circles have paid great attention to EVA.In this paper,the theoretical evaluation and case study of the combination of EVA performance evaluation system was studied,learn from the successful experience at home and abroad,this paper selected an earlier introduction of EVA performance assessment mechanism of private listed companies-Shanghai Fosun Pharmaceutical Co.,Ltd.This high-tech enterprise as an industry representative,for case analysis.Based on the background characteristics of the industry EVA performance evaluation system in-depth analysis and according to the basic situation and the business structure of Fosun Pharmaceutical enterprise,pointed out that in the calculation should pay attention to the accounting adjustment project.In this paper,a detailed calculation of EVA from 2008 to 2015,according to Fosun Pharmaceutical management and their ownership structure,in-depth analysis and detailed analysis of implementation effect of capital structure.This paper focuses on the financial strategy,operation management and compensation mechanism of EVA.EVA's financial strategy evaluation,we realized that the company made consistent with the strategic implementation management,promote enterprise strategic synergy;management evaluation of EVA,established an evaluation system composed of EVA and its derivatives,the enterprise management activities are analyzed from the changes of EVA,EVA per share and REVA,studying what roles they play;EVA's compensation mechanism,performanceevaluation established based on EVA is associated with senior management remuneration incentive mechanism,thus inspired executive layer do more contribution for the enterprise,then compare the had applied compensation mechanism with which is being applied;Finally,according to the analysis of the preceding text,find out the problem of Fosun Pharma and make reasonable suggestions for it."Fosun Pharma" case research plays the role of a topic,indicating the introduction of EVA performance evaluation in the enterprise to play an active role.In the use of EVA indicators need to take into account China's unique culture and national conditions,combined with the background of the industry.For other high-tech enterprises in the use of EVA to provide practical guidance recommendations,provide our country high-tech enterprise managers more valuable information to manage the company.