基于EVA的高新技術(shù)企業(yè)價值評估方法研究.pdf

1、天津商業(yè)大學(xué)碩士學(xué)位論文基于EVA的高新技術(shù)企業(yè)價值評估方法研究姓名：田力華申請學(xué)位級別：碩士專業(yè)：技術(shù)經(jīng)濟(jì)及管理指導(dǎo)教師：李文華20120517Abstract—————————————————————————————————————一————————————————————————————————————————————————————————————————一Abstract、Ⅳiththerapiddevelopmentofto

2、day’Sworldhigh—tech，High—techindustrieswhichdevelopedontheresearchanddevelopmentofhigh—tech，high。techproductmanufacturingandhigh—techservicesprovideshavebecomethemostimportantindustriesintheupgradingofindustrialstructure

3、whichbecauseofitsadvantagesofhigh—tech，higheconomicvalue—added，lowconsumptionandlowpollutionSimultaneously，asthegradualimprovementofChina’Ssocialistmarketeconomicsystemandcapitalmarkets，thecompetmonbetweenenterprisesbeco

4、memorefiercelyAlthough，hightechenterprisesgrowsrapidlywithhighyield，theyhaveonedisadvantageofhighriskIfhigh—techenterpriseswanttohavealongtermdevelopmentinthefiercemarketcompetition，theyneedtodotheenterprlsevalueassessme

5、nt，inordertoensurethemanagerswouldmaketherightdecisionswhichcloselyrelatedtothedevelopmentofenterprisesAsthemaximizationofshareholders’equitytobegoalofenterprises，enterprisevalueiSmorereflectedintheabilityofusingallcapit

6、altocreateearningsinfutureHoweverthepresentvalueevaluationmethodscannotaccuratelyassesstheenterprisevalueBecausethepresentvalueevaluationmethodsdon’tconsiderthewholecostofcapitalAsaresultthewholeearningscreatedbywholecap

7、italIcannotbeevaluatedaccuratelyandcomprehensively，whichmayledmanagerstomakewrongdecisionsEconomicValueAdded(EVA)，whichusethedifferencebetweenthecapitalearningsandCOSTSastheevaluatiOffbasis，couldexactlyassessthevaluecrea

8、ted。IfweuseE溺toassessthevalueofhightechenterprisesthatwouldmakeuptheshortfall，whichpresentvalueevaluationmethodscannotestimatethevaluecreatedbyenterprisesThispapermainlyresearchthevalueassessmentmethodofhightechenterpris

9、esbasedonE溺。ByanalyzingthefeaturesofhightechenterprisesjthedisadvantagesofpresentvalueevaluationandthethenatureofEVATheory1willestablishavalueassessmentofhightechenterprisesbasedonEVAwhichuseexpectEVAtobethebasisofenterp

10、risevalueassessment，consideringthefeatm‘esofhigh—techenterprisesTheenterprisevalueassessmentofhigh—techbasedonEVAwouldprovideamorecorrectmethodstoassessenterprisevalue，andhelpmanagerstomakemoreaccuratedecisionKeywords：va