Abstract 2,004 in June get up erupt one after another PROCOMP and so on the land mine stock, has brought the enormous impact to Taiwan's stock market, after these land mine stocks erupt one after another, stimulated the controlling organization to strengthen the management to go on the market the cabinet company's determination, planned many reforms plans and revises many laws, from aggravated illegal criminal and accountant the responsibility, the increase information transparency and realization company internal control aspect and so on execution reduces the possibility which the similar case occurred. Economics Value Added (EVA) is the use Residual Income the idea develops one financial achievements weight target, is different with generally recognizes accountant the principle by creditor's angle establishment finance report form, EVA is looks at the company by the shareholder value viewpoint the management achievement. This research by the economical attachment value inspection document company's transport business condition, examines EVA whether can utilize forecast to the enterprise finance crisis, and one of take documents PROCOMP as the example, carries on the financial ratio analysis, so as to the comparison finance ratio analysis and EVA use in effect of the enterprise finance crisis forecast. Conclusion of the this research as follows: First, by the case study result, the EVA appraisal method may take early warning signal the document corporate finance crisis. Second, the earnings compares by EVA and accountant, EVA can comparatively early respond the company manages the bad question, that is its financial crisis forewarns the effect to compare accountant the earnings to be good. Third, by sole or the sole category finance ratio appraisal document company whole management achievements is insufficient, and is easy to cause to sentence by mistake is appraised the company the real transport business condition.

Economics Value Added has two major characteristics that differ from the traditional accounting measure. First, the process of counting EVA includes the cost of equity. Second, it corrects distortion of Generally Accepted Accounting Principles¡]GAAP¡^by equity equivalent reserves. The purpose of this study is to test the relationship between performance measure EVA and stock return. Furthermore, we investigate if conbining these two parts provides additional information. In addition, the difference between literature and the study is that we use not only OLS regression model but also Panel Data Model. We choose a more suitable model to analyze our sample data. Our main finding is as follows¡G 1. Since sample data involve cross-section and time-series data. The result of test is that the Fixed Effect Model of Panel Data Model is more suitable for sample data. 2. Base on the Fixed Effect Model, the relationship between EVA and stock return is positive. 3. Considering the cost of equity and equity equivalent reserves increases the R-square respectively by 2.408% and 1.915%. It doesn¡¦t increase much power to explain stock return apparently. However, by F test, we find these two independent variables are obviously explainable. In a word, base on the Fixed Effect Model, there is relationship between EVA and stock return. Moreover, the joining of the variables of the cost of equity and equity equivalent reserves can explain contemporaneous stock return a little more.

企業營運績效通常是以會計報表上的數字為參考，例如，資產報酬率(ROA)、每股盈餘(EPS)、股東權益報酬率(ROE)與資本報酬率(ROC)等，但這些數字通常受制於許多會計規範，且忽略股東資金成本，若只觀察這些會計數據可能無法忠實呈現一間公司的實際價值與績效。1995年由紐約Stern Stewart & Co.財務顧問公司所提出一個結合會計及經濟之觀念的財務績效衡量指標，現在已廣被使用作為企業價值的衡量工具。能夠以目前會計報表裡的資訊運用若干公式原理而更能充分的呈現在原始會計報表無法獲取的有用的訊息，而更能夠以投資者的角度觀察企業經營者所制定之決策是否以股東之權益為優先考量。本研究係採個案研究方式，分析經濟附加價值，並應用企業評價中自由現金流量折現法，經由三種假設情況下的情境分析，評估個案公司企業價值；最後透過敏感性分析拆解選取關鍵驅動因子，作為提供個案公司未來營運策略與方針之參考。 / The measurement of the firm’s performance usually rely on a lot of normal accounting statements, for example assets rate of returns (ROA ) , per share surplus (EPS ) , stockholder's equity rate of returns (ROE ) and rate of returns of capital (ROC ) ,etc. Those numbers have to follow the Generally Accepted Accounting Principles（GAAP）and ignore the cost of equity. If only observe those accounting numbers, it is hard to faithfully expressing the real value and performance of an enterprise. The Economics Value Added (EVA) concept was proposed in 1995 by the New York Stern Stewart & Co. financial adviser company. It combination of accounting and economic concepts based on financial performance measures. It can show some primitive useful message that accounting statement can't be obtained abundant at present. This concept has been widely be used as a measure of corporate value tool. Our research, which applies case study method, attempts to analyze the EVA value and determine the value of company S by using the discounted free cash flow model under three hypothetic scenarios. In addition, we conduct sensitivity analysis model to find the key value-driving factor of the company, which will be considered in planning future operating strategy.

Past research on activity-based costing (ABC) success factors has predominantly focused on establishing relationships between known success factors and ABC implementation success. According to the researcher, there is a lack of exploratory studies to establish ABC implementation factors especially in a South African context. This study has explored these factors from literature and attempted to identify any other factors of importance with the use of semistructured interviews. A total number of 13 interviews were conducted with participants from manufacturing organisations in the Nelson Mandela Bay Metropole using some form of ABC. The findings suggested that ABC may be more beneficial at larger, more diverse organisations but that smaller organisations may also benefit from ABC if product costing accuracy could be significantly improved with ABC and if no major pressure on company resources is incurred. In addition it seems that ABC should be utilised to the fullest extent that is practical for the manufacturing organisation and that the use of supplementary cost-saving mechanisms with ABC may be beneficial. Finally it is recommended that users be fully trained at ABC and that careful consideration of an appropriate ABC software package may increase the likelihood of ABC implementation success. / Management Accounting / M. Phil. (Management Accounting)

Past research on activity-based costing (ABC) success factors has predominantly focused on establishing relationships between known success factors and ABC implementation success. According to the researcher, there is a lack of exploratory studies to establish ABC implementation factors especially in a South African context. This study has explored these factors from literature and attempted to identify any other factors of importance with the use of semistructured interviews. A total number of 13 interviews were conducted with participants from manufacturing organisations in the Nelson Mandela Bay Metropole using some form of ABC. The findings suggested that ABC may be more beneficial at larger, more diverse organisations but that smaller organisations may also benefit from ABC if product costing accuracy could be significantly improved with ABC and if no major pressure on company resources is incurred. In addition it seems that ABC should be utilised to the fullest extent that is practical for the manufacturing organisation and that the use of supplementary cost-saving mechanisms with ABC may be beneficial. Finally it is recommended that users be fully trained at ABC and that careful consideration of an appropriate ABC software package may increase the likelihood of ABC implementation success. / Management Accounting / M. Phil. (Management Accounting)