基于EVA的创业板公司业绩分析——以2009年上市36家公司为例  

Research on Value Assessment of GEM Listed Companies Based on EVA:Take the 36 Listed Companies in 2009 as Example

作　　者：刘方池[1] 王馨玥[1] 陆云枫[1] 李畅[1] 邵空[1] 

机构地区：[1]华中科技大学经济学院,湖北武汉430074

出　　处：《科技进步与对策》2013年第20期84-88,共5页Science & Technology Progress and Policy

摘　　要：随着2009年创业板挂牌,创业板公司业绩受到学术界和业界的广泛关注。基于EVA理论,以2009年上市的36家公司为样本,对其公司业绩进行分析。结果表明,其中25%的公司实现盈利,63.89%的公司正处于成长期。同时,重点对制造业进行了实证研究,回归结果表明:制造业的销售净利率、存货周转率及开发支出对EVA影响较大,其中开发支出起关键作用。With the establishment of Growth Enterprises Market （GEM） in 2009, more and more attention has been focused on the performance of GEM listed companies. Based on this, it is of both theoretical and practical meaning to introduce Economic Value Added （EVA） indicator to analyze GEM companies. In this paper, the performance of 36 listed companies in 2009 is analyzed based on the theory of EVA. And the conclusion is 25 % of GEM companies have gained real benefits while 63.89 % of them are still in the stage of growth. Meanwhile, manufacturing industry is analyzed separately and the regression result shows that net profit margin, inventory turnover and development expenditure are critical to its EVA.

关 键 词：EVA 创业板业绩 制造业 影响因素 

分 类 号：F276.6[经济管理—企业管理]