EVA与剩余收益估价:联系与思考

【作者】 谢诗芬； 彭玉龙；

【机构】 湖南大学会计学院； 上海财经大学会计学院；

【摘要】 EVA是一种业绩评价方法,剩余收益估价模型是一种权益估价方法。两者都要考虑资本成本,使用剩余收益概念,因而可以统一在经济价值创造(EVC)这一框架中。EVA关注企业过去的经济价值创造,权益估价预计未来的经济价值创造,两者是一个矛盾统一体。会计本质上是一种价值计量,其使命是寻求一个价值均衡点,以实现受托责任(业绩评价)与决策有用(权益估价)双重目标。更多还原

【Abstract】 EVA is a method of performance evaluation,and residual income valuation model is a method of equity valuation.Both of them need to take into account the cost of capital and use the concept of residual income,so they can integrate in the framework of Economic Value Created (EVC),they are a contradictory integration.Accounting is essentially a measurement of value,its mission is to seek a value-balanced point to realize the double goals of accountability(performance valuation) and decisions usefulness(equity valuation).更多还原