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随着市场经济的发展,传统的以利润为导向的财务指标评价体系已难以适应基于价值的管理理念。EVA作为新的财务评价指标,能够更好地衡量企业经营业绩,更加准确地反映企业为股东创造的价值,是取代传统业绩评价、衡量企业经营业绩的重要评价指标。EVA最大的亮点在于不仅剔除了债务成本,还考虑了股权投资的机会成本,消除了在传统会计利润下企业认为“股东资本免费”的弊端,动态地评价企业未来的发展能力。本文重点阐述了EVA指标的内涵、作用以及应把握的重点等内容。
With the development of market economy, the traditional profit-oriented financial index evaluation system has been difficult to adapt to value-based management concepts. As a new financial evaluation indicator, EVA can better measure the business performance of the company and more accurately reflect the value created by the company for its shareholders. It is an important evaluation indicator to replace traditional performance evaluation and measure business performance. The biggest highlight of EVA lies not only in eliminating the cost of debt, but also taking into account the opportunity cost of equity investment, eliminating the disadvantages of the company’s view of “shareholder capital free of charge” under traditional accounting profits, and dynamically evaluating the company’s future development capabilities. This article focuses on the content, role, and key points of the EVA indicator.