企业经营业绩评价的有效方法——EVA

通常人们将会计利润作为评价企业业绩的主要指标,但会计利润最大的缺陷在于只考虑债务成本,而忽视了权益资本的使用成本,这使得会计利润无法准确评价企业最终经营成果。EVA方法则综合考虑了包括权益在内的企业的全部资本成本,从而可以更准确地评价企业的业绩,并且以 EVA为基础的企业薪酬制度可以有效地协调所有者和管理者的利益。

Effective Method of Appraising Operating Effect of Enterprises-EVA

Accounting profit is on the basis of the public accounting rules. People usually use accounting profit as a main norm to appraise enterprises' achievement. But the biggest defect of accounting profit as a norm of achievement is what it's calculating only includes debt cost, but neglects cost of equity capital. Therefore accounting profit cant accurately appraise final operation effect of enterprise. The method of EVA considers cost of all capitals including equity. So, it may reflect operating effect of enterprises more accurately. Moreover the salary system of enterprise on the basis of EVA can effectively coordinate the interests between the owner and the manager.