Title :
Financial Efficiency of Electric Power Listed Company Based on EVA Model
Author :
Duan, Baoqian ; Tian, Li ; Hong, Haolin
Author_Institution :
Sch. of Bus. & Manage., North China Electr. Power Univ., China
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.
Keywords :
financial data processing; stock markets; EVA model; debt financing model; electric power enterprises; electric power listed company; equity financing; financial efficiency; fund utilization efficiency; performance measurement indicator; shareholder value; stock equity cost; Blindness; Companies; Conference management; Costs; Economic indicators; Energy management; Investments; Measurement; Security; Stock markets; EVA; debt financing; electric power listed company; equity financing; financial efficiency;
Conference_Titel :
Security Technology, 2008. SECTECH '08. International Conference on
Conference_Location :
Hainan Island
Print_ISBN :
978-0-7695-3486-2
DOI :
10.1109/SecTech.2008.37
