| Abstract [eng] |
In today‘s economical situation, when world suffers from the consequences of global financial crisis, when competition increases in the markets, when competitors take unfair means of rivalry for the part of the market, such as price dumping and similar, when each decision of companies’ heads should be evaluated at the aspect of economical efficiency, i.e. whether consequently is going to be created an additional value for the company. Traditional indicators, defining financial situation of the company, of net profit and sales do not reveal real situation. Meanwhile economic value added EVA index motivates companies to efficiently use both not only the borrowed but also own capital. One of the biggest problems is that most Lithuanian companies’ heads, who for the evaluation of company choose EVA, practically do not know how to calculate this index correctly, how to determine correctly the price of company‘s controlled capital, are not able to identify factors, influencing value and to interconnect taking decisions with general aim of the company – how to increase EVA. Object of the research – medium manufacturing company UAB “TECA”. The aim of the thesis – is to reveal economical meaning and importance of creation of company value, to analyze the conception of EVA index, and its application and implementation in Lithuanian company. For the achievement of the aim there are being set the following most important tasks: • To reveal the concept of value and the problem of value determination; • To introduce the conception of economic value added – EVA index, to compare it with traditional company‘s activity evaluation indices, based on profit; • To analyze possibilities of EVA index, as a criterion of value creation, usage in company‘s management, by determining basic advantages and limitations of index application. • To introduce practical examples of EVA usage, according to the data of company UAB “TECA”, by substantiating the importance of value creation in company‘s management. The structure of the thesis. The thesis consists of three main parts. In the first part of the thesis the conception of value, EVA conception of value evaluation model, and problems of application are being revealed. In the second part is being performed the analysis of possibilities of index application in practise, there are being created algorithms for the determination of influence of value, created by company, and separate product lines on company‘s result, there is being suggested a model of heads‘ awarding system. In the third part the being performed research of possibilities of practical EVA index usage showed that Lithuanian companies can easily implement EVA system in the following main areas: determination of company‘s value results, evaluation of particular products profitability and substantiation of motivational system. The results of calculations showed that during the whole period of analysis, at the respect of economic added value of UAB “TECA” results, the results of the company are significantly smaller in comparison with the result, being introduced in company‘s financial reports. |
