Research In Stated-owned Companies Under The Financial Model Of EVA-oriented

The stated-owned companies are restructuring themselves into international market. On the other hand, the invest environments of the companies are much better under the Chinese promising capital market. Now the investors are not only caring about companies'income and benefits but more focusing on their creative ability of the value.The operation result of companies now reacts hardly by the traditional financial benefit-oriented performance valuation system (TFBPVS). TFBPVS now can not demonstrate the true result of companies'operation and can not show the creative ability of their value because it is short of the consideration of capital cost. In order to react truly on the creative ability of the companies, theoretical and practical finance are modifying the TFBPVS from different points. Among them, the EVA is the typical financial performance valuation system based on the creative ability of the companies. It will truly and overall show the result of the companies operation and their creative ability instead of the traditional financial benefit-oriented situation.The State Property Management Committee (SPMC) has officially put this EVA into performance valuation system especially for the state-owned since the year 2010. So how to handle the EVA will be the major subject for the state-owned companies now.Based on many years in the financial department of the state-owned company, I will be very glad to share my study and search on EVA. There are five parts:Part 1 Introduction. It mainly presents the purpose and background of this article, the reference situation of this subject related internal and external, detailed concept and practical fields of this EVA. The state-owned companies are the State Property users and are responsible for the State Property value-add for the country. Based on the performance valuation system on state-owned companies now focusing on their value management by the SPMC, EVA-oriented valuation system now makes the companies restructuring themselves into international market step by step.Part 2 Concept and Methods. It introduces the main research analyses, the structure of the article and main contents of different parts. The article reviews and summaries the different selections on EVA internal and external combined with analyses of the different cases. Furthermore, the article presents the analyses deeply on the management methods of the EVA into the state-owned companies with theoretical and practical methods with different cases. And it also presents the deficiency of the analyses.Part 3 Basic Concept Review. It introduces the origin of the theory, the background of its born and the related basic theory in the company management. Details include:Authorize theory, Related-benefit theory, Value management theory, Managers encourage theory, Origin concept of EVA and the calculation methods, Benefit after adjustment, Practical methods into main adjustments and Basic valuation in EVA Management performance value system.Part 4 Practical use in the state-owned companies. Beginning with the practical meaning and guidance of EVA management in the state-owned companies, it presents the main steps and structure of the EVA focusing on the value management. It especially introduces EVA in the market shares companies. These cases show different results with different understandings within EVA, which is very meaningful in the EVA management for our state-owned companies.Part 5 Summery and Forecast. The use of EVA for the investors and managers is really the shortcut to improve the management and strengthen the creative ability of the companies. The EVA theory of capital cost and value management leaves its development space for our companies. Of course the article points that use of EVA is required to be corresponding to the practical situation of our country economic. It is required to strengthen the supervision and regulations. It is required to standardize orderly. It also advises how to improve EVA system for state-owned companies based the real cases analysis. At the end of this article, it presents the forecast of EVA, to improve the creative ability of the company value is the right way to long-live for the company.