Research On The Effect Of The Type Of Fund Activities Of W Company On EVA

As a special form of production and operation organization,central enterprises have made great contributions to China's economic construction.As the mainstay of the national economy,it is particularly important to evaluate the performance of central enterprises accurately and effectively.However,in the traditional method of enterprise value evaluation,people often only pay attention to the company's operating performance and financial situation,but ignore the opportunity cost and capital cost of the company's operation,which makes the state-owned enterprises in the process of development have problems such as expansion of operational risk,weakening of core competitiveness,and because they are not constrained by the cost of capital,the quality of their assets is also declining.In order to solve this problem,since 2007,the central enterprises have introduced the assessment method of economic value added,which has been improved many times so far.By introducing the index of economic value added,the real operating performance of the central enterprises has better evaluation index,which further guides the central enterprises to pay more attention to the efficiency of capital use,improve the quality of enterprise development,and realize a new leap in value creation.As a member of the central enterprise,W company's important goal is to improve its own value,i.e.economic value added.Starting with the capital activities of W Company,this paper firstly expounds the environment,characteristics and content system of the capital activities of W Company,and analyses the influence ways of the capital activities of W Company on economic added value.Secondly,it makes a concrete analysis of the three types of financing,operation and investment of W company's capital activities,and studies the specific impact of different capital activities on economic added value.Thirdly,by comparing W company's capital activities with benchmarking enterprises in the same industry,we find the similarities and differences between W company's current financing,operation and investment activities and benchmarking enterprises,and analyze the specific reasons for the gap between them.Finally,by drawing lessons from the development experience of benchmarking enterprises in the industry,and according to their own characteristics and actual situation,we can learn from each other's strengths and weaknesses to provide practical operational suggestions for the future development of W enterprises.Through this study,it is found that if W enterprises want to achieve greater achievements and increase economic value added,they should be cautious in financing activities by issuing new shares.They should not only seek to raise more funds blindly,but also pay attention to the returns of the owners.When financing foreign loans,because long-term borrowing can no longer meet the current capital needs of W Company,we can choose to reduce the amount of long-term borrowing when reducing the cost of capital,but we should pay attention to reducing the proportion.In investment activities,W company should pay attention to the impact of non-current assets' profits and losses on the net profit of enterprises,reduce the impact of non-current assets' profits and losses on the net profit of enterprises,and gradually shift the focus on net profit indicators to economic added value indicators.In addition,W enterprises have certain advantages in investment in construction projects,and should maintain the current strength.In the aspect of capital operation,W company should explore its own special business,such as passenger transport service,to improve the economic value added created by W company's income and improve its operation efficiency.In addition,cost control should be strengthened to reduce unnecessary expenditure.Through this study,first of all,from the perspective of capital activities,this paper partially improves the research of economic value added from three aspects: enterprise financing,investment and operation.Secondly,the control of capital activities has been further refined to provide a favorable operational guarantee for the internal control system to take root in the enterprise.Thirdly,without changing the previous mode of production and operation of enterprises,this paper puts forward some suggestions.For projects that have positive effect on the economic value added of enterprises,we should continue to make greater efforts and give full play to their advantages.For projects that seriously hinder the growth of economic value added,we should reduce their impact on economic value added by means of operation.Finally,this paper indirectly improves the internal control system of enterprises from the specific operational level,and can get more significant results at this level.