摘要
EVA不仅是近年来国外比较流行的用于评价企业经营管理状况和管理水平的重要指标,而且还可以引入企业价值评估领域。本文论述了EVA估价法的基本原理,创建了相应的评估模型。EVA估价法与现行的企业自由现金流量折现法相比较,具有与企业价值相关联又便于对价值实效进行计算考核的双重优点。
EVA is not only an important indicator prevailing abroad recently for evaluating operational situation and managerial level of enterprises, but also can be introduced into value appraisal of enterprises. This paper discusses the basic principal of EVA valuation approach and sets up relevant valuation model. Compared with discounted free cash flow method that enterprises use currently, EVA valuation approach has double advantages, that is, it is not only relevant to enterprise value but also useful in calculating and checking the actual value effect.
基金
安徽省教育厅2004年度人文社科项目--EVA在企业价值评估中的应用研究(2004sk191)的成果。
关键词
企业价值评估
EVA
EVA估价法
value evaluation of enterprises
EVA=economic value added
EVA valuation approach
