基于价值创造的企业EVA内部绩效定量评价体系构建研究

传统的企业绩效评价体系主要以会计利润为基础,忽略了股权资本的成本,很显然与以股东财富最大化为目标的现代企业制度要求相背离.作为一种以价值创造为导向的评价指标,EVA引入我国企业绩效评价实务,迫使企业必须解决如何将EVA与企业内部绩效评价体系进行整合.由于现有理论较少涉及该问题,本文试图对该问题进行探讨.本文研究认为：①在构建基于价值创造的企业EVA内部绩效定量评价体系时,企业需要关注的关键问题是保证绩效评价指标体系的内在逻辑一致性;要保证一致性,企业在构建体系过程中应遵循由建立EVA中心、EVA价值驱动因素分析、设立内部绩效评价指标和选择合理考评模式4个步骤组成的体系建立流程;构建该体系,可以采用EVA＆BSC、EVA＆预算与标准成本和EVA＆ABC这3种不同的评价模式,不同模式的选择需要考虑评价体系与方法自身的特点和企业的管理特点.

A Research on the EVA Internal Performance Quantitative Evaluation System Based on Value Creation

The traditional performance evaluation system of the enterprise is based on accounting prof- its, ignoring the cost of equity capital, which obviously contradicts the modern enterprise system targe- ted to shareholder wealth maximization. EVA is introduced into enterprise performance evaluation in- dex system in our country as an evaluation index oriented of value creation, which forces enterprises to solve the questions about integration of the EVA and internal performance evaluation system. This arti- cle attempts to discuss it because of the lack of existing theory on this issue. This paper drew the fol- lowing conclusions： firstly, the company should focus on the inherent logic coherence of performance evaluation index system when building the value-creation-based EVA internal performance quantitative evaluation system; secondly, to ensure the coherence, this building process consists of the four steps including setting up the EVA center, analyzing the value drivers, establishing the internal performance evaluation index and selecting the valid mode of assessment; finally, the three kinds of evaluation modes to buitd it - EVA and BSC, EVA and Budget and standard costs, EVA and ABC- should be used according to the administrant features of the system and modes as well as the characteristics of companies