EVA视角下新华保险公司财务绩效研究

论文总字数：27121字

摘 要

在保险市场不断改革与开放的今天，各种类型的保险公司之间的竞争逐步转化为绩效的竞争，绩效成为了保险公司综合实力的重要体现。到今天，经济增加值已经有将近二百年的历史，这是一种可以对企业经营业绩进行准确度量的指标。上世纪八十年代，美国思腾思特管理咨询公司全面分析了剩余收益概念，并以该分析为基础结合MM理论，继而形成了EVA概念，同时在公司经营业绩评估工作中充分使用到EVA，将其作为一项全新的评估指标，后来被逐渐应用于企业价值评估法当中。

本文为了提高研究的可信度和科学性，立足于我国上市公司新华人寿保险股份有限公司为具体落地案例，进行文献搜集整理和经营数据剖析。经过了解，新华保险公司在经营中的主营业务为人身保险、保险咨询等业务。为了节约公司的经营成本，提高公司的经营效率和财务管理质量，需要对于新华保险公司的财务绩效进行纵向和横向管理分析，合理利用财务绩效评价系统进行公司经营环节各项财务指标分析，把握公司企业财务活动的整体变动情况和未来发展方向，通过财务绩效管理指标，帮助新华保险公司分析当前管理和经营过程中的缺陷和不足，并提出针对性建议和管理措施，给同行业的财务绩效管理提供借鉴。

本文主要分为五个章节：第一章为绪论，主要阐明了本文的研究目的和研究方向，整理了整体的研究思路；第二章体整理了保险行业的财务绩效评价管理材料和相关文献，为后续的实际案例探究奠定理论基础；第三章简单介绍了有关财务绩效、EVA评价方法的有关概念和理论；第四章立足于新华人寿保险股份有限公司的财务绩效管理现状进行绩效管理方法评价和研究；第五章针对EVA绩效评价应用提出其局限性。

关键词：保险行业；新华保险；财务绩效评价；EVA

The Financial Performance Evaluation Research of New China Life Insurance Company Based on EVA

Abstract

Today, with the continuous reform and opening of the insurance market, the competition between domestic and foreign insurance companies is gradually transformed into the competition of performance, which has become an important embodiment of the comprehensive strength of insurance companies. Economic added value can reflect the operating benefits of insurance companies. The concept of operating performance of insurance companies was born in 1980, namely the concept of EVA, which was researched and produced by the American Stengst Management Consulting Company in the operation link and operation process of the company. The MM theory proposed by international economists was taken as the theoretical basis. This concept is put forward in combination with various business indicators and valuation methods of insurance companies, and later it is gradually applied in enterprise valuation method. EVA (Economic Value Added) theory has four functions, namely, evaluation index, management system, incentive mechanism and concept system. The comparison between EVA evaluation index and other performance evaluation indexes is helpful to evaluate the financial performance of Xinhua Insurance Company more accurately and reasonably, and cultivate and develop the concept of value management of enterprise management personnel.

In order to improve the credibility and scientific nature of the research, this paper, based on China's listed company New China Life Insurance Co., Ltd. as a specific landing case, conducts literature collection and analysis of the insurance company's operating data. After understanding the company in the operation of the main business for life insurance, insurance consulting and other businesses. In order to save the operating cost of the insurance company and improve the operating efficiency and financial management quality of the insurance company, it is necessary to conduct vertical and horizontal management analysis on the financial performance of the company, and make reasonable use of the financial performance evaluation system to analyze the financial indicators of the company's business links. Contact on the basis of comprehensive practice use financial ratio and trend analysis of xinhua insurance profit, debt service and so on various comprehensive consideration, the financial management link to grasp the changes in the overall in enterprise financial activities and the future development direction, through the financial index of performance management, help the xinhua insurance company flaw and the insufficiency in the process of analyzing the current management and operation, And put forward targeted suggestions and management measures to help the financial management of the same industry to provide reference and significance.

The research process of this paper is mainly divided into five chapters: the first chapter is the introduction, mainly elaborates the purpose and direction of the research of this paper, sorting out the overall research ideas； The second chapter analyzes the domestic and foreign research status, as the theoretical basis of this study； The third chapter concretely sorted out the financial performance evaluation management materials and related literature of the insurance industry, which laid a theoretical foundation for the subsequent study of actual cases. The fourth chapter evaluates and studies the performance management methods based on the current situation of financial performance management of New China Life Insurance Co., Ltd. Chapter 5 points out the limitations of EVA performance evaluation application.

Keywords: Insurance industry; Xinhua Insurance; Financial performance Evaluation; EVA

目 录

摘 要 I

Abstract II

第一章 绪 论 5

1.1 研究背景 5

1.2 研究目的及意义 5

1.3 研究内容及方法 5

1.4 论文框架 5

第二章 EVA研究的文献综述 6

2.1 企业绩效评价的发展现状 6

2.2 基于EVA评价财务绩效的综述 6

2.3 文献评述 7

第三章 相关概念和相关理论 8

3.1 相关概念的界定 8

3.1.1 财务绩效评价的定义 8

3.1.2 保险企业财务绩效评价的定义 8

3.2 基于EVA评价研究财务绩效的理论动因 8

3.2.1 剩余收益理论 8

3.2.2 委托代理理论 8

3.2.3 价值管理理论 8

第四章 基于EVA新华保险公司的财务绩效研究 9

4.1 新华保险公司概况 9

4.2 基于EVA建立新华保险公司财务绩效研究体系的思路 9

4.3 新华保险公司以EVA为核心的财务绩效指标选取 9

4.3.1 财务核心指标—EVA率 9

4.3.2 其他传统财务指标 10

4.4 新华保险公司各财务绩效指标值的测算 10

4.4.1 EVA率的确定 10

4.4.2 其他财务指标值的确定 13

4.5 新华保险公司EVA绩效评价与传统绩效评价比较分析 14

4.5.1 EVA值与净利润的对比 14

4.5.2 净资产EVA率与净资产收益率的对比 14

第五章 EVA绩效评价的应用与局限性 16

5.1 EVA绩效评价应用的优越性 16

5.2 EVA绩效评价应用的局限性 17

结 论 19

致 谢 20

参考文献 21

第一章 绪 论

1.1 研究背景

随着保险市场的不断改革与开放，我国国内的中小型保险公司纷纷成立，各保险公司之间的竞争也愈发激烈，除了中国行业内的保险公司竞争，还包括中国与外国保险行业的纷争，各保险公司为了提高企业内的经营效率，提高企业综合竞争力，纷纷开始企业经营环节和经营模式的创新。

衡量企业综合竞争力的指标为企业内的财务管理绩效项目指标。多年来随着绩效管理衡量指标的统一化，在1980年保险行业内部逐渐增加了经济增加值（Economic Value Added）这一业绩指标。最早在20世纪80年代，美国思腾思特管理咨询公司在剩余收益概念的基础上，吸收MM理论，首次提出EVA的概念，同时以EVA作为评估公司经营业绩的新指标，率先创立了EVA企业价值评估法。

1.2 研究目的及意义

EVA（Economic Value Added,即经济增加值）理论一共具有四个方面的作用，即评价指标（Measurement)、管理体系（Management）、激励机制（Motivation）、理念体系（Mind-set）。这4项评价指标运用在企业内部财务管理当中，可辅助更加准确、合理地评价新华保险公司的财务绩效，培养并发展企业经营管理人员的价值管理观念。

1.3 研究内容及方法

关键问题：

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