{"title":"基于EVA模型的电力上市公司财务效率研究","authors":"B. Duan, Li Tian, Haolin Hong","doi":"10.1109/SECTECH.2008.37","DOIUrl":null,"url":null,"abstract":"EVA is the performance measurement indicator as the center of creating the shareholder value. With calculation of annual fund utilization efficiency of the electric power listed company by EVA model, it is approved that the blindness of electric power enterprises in choosing equity financing has reduced fund utilization efficiency. Considering the high rate of return on assets as well as the fact that the debt cost is lower than stock equity cost, debt financing model is more applicable than equity financing for electric power listed companies.","PeriodicalId":377461,"journal":{"name":"2008 International Conference on Security Technology","volume":"2 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2008-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Financial Efficiency of Electric Power Listed Company Based on EVA Model\",\"authors\":\"B. Duan, Li Tian, Haolin Hong\",\"doi\":\"10.1109/SECTECH.2008.37\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"EVA is the performance measurement indicator as the center of creating the shareholder value. With calculation of annual fund utilization efficiency of the electric power listed company by EVA model, it is approved that the blindness of electric power enterprises in choosing equity financing has reduced fund utilization efficiency. Considering the high rate of return on assets as well as the fact that the debt cost is lower than stock equity cost, debt financing model is more applicable than equity financing for electric power listed companies.\",\"PeriodicalId\":377461,\"journal\":{\"name\":\"2008 International Conference on Security Technology\",\"volume\":\"2 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2008-12-13\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2008 International Conference on Security Technology\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/SECTECH.2008.37\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2008 International Conference on Security Technology","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/SECTECH.2008.37","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Financial Efficiency of Electric Power Listed Company Based on EVA Model
EVA is the performance measurement indicator as the center of creating the shareholder value. With calculation of annual fund utilization efficiency of the electric power listed company by EVA model, it is approved that the blindness of electric power enterprises in choosing equity financing has reduced fund utilization efficiency. Considering the high rate of return on assets as well as the fact that the debt cost is lower than stock equity cost, debt financing model is more applicable than equity financing for electric power listed companies.
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