在價值衡量指標中，經濟附加價值（Economic Value Added）在近幾年逐漸受到重視，許多知名世界級大廠將經濟附加價值應用在公司營運上，例如：可口可樂、摩根史坦利等公司。經濟附加價值是史坦史都華公司所提出，他不僅是一種有效的公司績效衡量指標，也可運用在管理者和員工獎勵制度，協助公司評估策略的可行性及有效性地運用資金。 目前在衡量公司績效的傳統績效指標，主要為每股盈餘、資產報酬率及股東權益報酬率。本研究在探討經濟附加價值是否比傳統績效指標更能有效解釋市場附加價值及資本市場股票價格。 本研究使用迴歸統計方式分析資料，研究結果發現，經濟附加價值解釋市場附加價值及股票價格的能力小於每股盈餘，但是大於資產報酬率和股東權益報酬率。 ;A new performance index, Economic Value Added (EVA), has gradually gained its importance in recent years. Many well known international corporations such as Coca-Cola, Morgan Stanley, etc. have adopted EVA as the index to evaluate operation and investment strategies. EVA is a value based management model proposed by Stern Stewart & Co. It not only serves as a way to evaluation performance, but also provides a complete analytic framework for financial management and promotion scheme for employees. The usefulness of traditional accounting measures, such as earnings per share (EPS), return on assets (ROA) and return on equity (ROE), and their effect on stock performance, have been discussed for some time. In this paper, IC Design industry is examined to study whether its EVA is more correlated with Market Value Added (MVA) and stock performance than traditional accounting measures. By the regression analysis of all samples to compare the explanatory power of EVA and traditional accounting measures, it is found EVA is less powerful than EPS, but EVA has a stronger correlation with MVA and stock performance than ROA and ROE.