基于EVA的TX公司价值管理体系构建研究

发布时间：2018-05-06 22:13

本文选题：EVA + 业绩评价　；参考：《沈阳工业大学》2017年硕士论文

【摘要】：价值管理是20世纪80年代出现在美国的一种新的企业管理模式。自90年代以来其思想在西方企业中就备受追捧。简单的说就是只有当企业投入资本的回报率超过投入资本的资本成本率时,才会为企业创造价值。这是为了实现企业长久持续的发展从而对企业价值进行的有效的管理。EVA即经济增加值是由美国思腾思特咨询公司提出的一种企业管理的工具,可以全方位地衡量企业的经营业绩,是企业拥有者创造财富的关键驱动因素。EVA价值管理体系在上述基础上应运而生,它在国外已有30多年的历史,理论研究和实践经验都已相对完善。但是对于我国来说,EVA价值管理体系的研究还并不十分成熟,有待仔细研究发展。本文以TX公司为研究对象,对其进行分析计算发现TX公司近3年来EVA值均为负,且逐年下降。公司的价值创造能力很差,股东价值正被损毁,这与公司的经营战略目标是相违背的,不利于公司今后的发展,因此为改变这一状况有必要为TX公司构建一套新的管理体系——基于EVA的价值管理体系。论文从EVA价值管理理念着手,结合国内外研究现状对EVA、价值管理以及EVA价值管理的相关理论进行概述;接着对TX公司的情况做介绍,并对为其构建EVA价值管理体系的必要性与可行性进行分析,证明TX公司有必要构建基于EVA的价值管理体系;根据TX公司的具体情况,以EVA价值管理体系4M理论体系模型的构建为核心,包括业绩评价、管理模式、薪酬激励以及理念强化这四条主线,为TX公司构建EVA价值管理体系,以期望使公司在保证经营业绩的基础上能够提升公司的价值、实现股东价值的最大化;最后,提出TX公司构建EVA价值管理体系的实施保障措施,来保证TX公司的EVA价值管理体系能有效顺利的实施。
[Abstract]:Value management is a new enterprise management model that appeared in America in 1980's. Since the 1990 s, his ideas have been sought after in western enterprises. Simply put, only when the rate of return on investment capital exceeds the cost rate of capital investment, will it create value for the enterprise. This is to achieve long-term sustainable development of enterprises to achieve effective management of enterprise value. It is the key driving factor for the owner to create wealth. The EVA value management system emerges as the times require on the basis of the above, and it has been in foreign countries for more than 30 years. Theoretical research and practical experience have been relatively perfect. But for our country, the research of EVA value management system is not very mature. In this paper, TX Company is taken as the research object. It is found that the EVA of TX Company has been negative in the past three years and decreased year by year. The value creation ability of the company is very poor, and the shareholder value is being destroyed. This is contrary to the company's strategic objectives and is not conducive to the future development of the company. In order to change this situation, it is necessary to construct a new management system-value management system based on EVA for TX Company. This paper begins with the concept of EVA value management, combines the domestic and foreign research status quo to summarize the theory of EVA, value management and EVA value management, and then introduces the situation of TX Company. By analyzing the necessity and feasibility of constructing EVA value management system, it is proved that it is necessary for TX company to build a value management system based on EVA. Taking the construction of 4M theoretical system model of EVA value management system as the core, including performance evaluation, management model, salary incentive and concept strengthening, the paper constructs the EVA value management system for TX Company. In the hope that the company can enhance the value of the company and realize the maximization of the shareholder value on the basis of ensuring the operating performance. Finally, the paper puts forward the implementation safeguard measures for TX company to construct the EVA value management system. To ensure TX company's EVA value management system can be effectively and smoothly implemented.
【学位授予单位】：沈阳工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F552.6;F550.66

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