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现代企业管理制度是所有权与经营权相分离的治理模式,基于委托代理的治理机构在企业绩效管理中存在诸多问题。近年来,国资委对央企的业绩考核增加了EVA评价指标,即通过税后营业利润减去资本成本的余额来衡量股东利益。引入EVA作为企业评价经营绩效的指标,不但可以客观地评价经营状况,还有利于管理者转变一直以来忽视股东利益最大化的现状。本文着重介绍了EVA(经济增加值)的含义,以及它在企业业绩评价应用中需要注意的问题及推广策略,以期提供借鉴作用。
The modern enterprise management system is a governance model that separates the ownership from the management right. There are many problems in the performance management of enterprises based on the principal-agent governance. In recent years, SASAC has added the EVA evaluation index to the performance evaluation of central SOEs, that is, the shareholder’s interest is measured by the balance of after-tax operating profit minus the cost of capital. The introduction of EVA as an indicator of business performance evaluation, not only can objectively evaluate the operating conditions, but also conducive to changes in management has been neglected the interests of shareholders has been the status quo. This article emphatically introduces the meaning of EVA (economic value added), as well as the problems that need attention and its promotion tactics in the application of enterprise performance evaluation, with a view to providing reference.