A Number Of Issues In The Contemporary Corporate Performance Evaluation System Innovation

With the transference of human society from the industrial age into an age of information and knowledge, technology of corporate management has greatly improved in order to adapt to competition. Performance evaluation system, which is one of subsystems of management control system also needs some adjustments to be compliant with such situation. Since 1990 's, there emerged three types of innovation which are known as EVA, the Balanced scorecard and Intellectual capital evaluation system. Such innovations represent the advanced practice in corporate performance measurement and evaluation, and EVA has been regarded as 'an innovation in modern corporate management'. Roos and his colleagues consider one of the intellectual capital financial evaluation methods, 'Skandia Navigator', as 'financial milestone of conversion from industrial economy to knowledge economy'. Kaplan and Norton remark that Balanced Scorecard is the 'foundation of corporate strategy management'. Although at the moment the research has started in our country, the research achievements are scarce and lack comprehensive and systematic description, especially in the lack of comparison from different management control systems to show the driving mechanism of such performance evaluation system on corporate management. Based on the absorption, abstraction and assimilation of foreign research concerning evaluating corporate achievement, this dissertation focuses on a comprehensive comparison between three theories of evaluating system in order to contribute to our current theories which are applied in our companies.The dissertation is composed of 6 chapters. The topic of the first chapter is that in order to adapt to the great conversion in its macro and micro conducting environment, corporation should adopt the innovation from thought mode of strategy, organization structure and mode of management, which reveals that acting as one of the subsystems of management control system, performance evaluation system al so needs adjustment accordingly. Based on above-mentioned factors, it also points out that the shortcoming of traditional financial performance evaluation system and the expectation on the development trends of corporate performance evaluation system.Based on the the related oversea research results, chapter two expatiates on the development trace of performance measures in theory area and reveals the two dhvious trends of innovation: innovations of financial measures and non-financial measures. At the same time it also summarizes and deduces achievement of the research in the two areas mentioned above. The third, forth and fifth chapters are based on the second chapter.Chapter three focuses on the discussion of EVA performance evaluation system. Firstly it systematically introduces the theory framework of EVA performance evaluation system. Secondly it comments on the EVA system from three separate directions: single-period performance measure, EVA-based Dupont financial analysis system and EVA-based financial management system . Finally it analyzes and discusses the three basic topics of radical empowerment, the 'simulated' equity owner and strategic evaluation in EVA theory. The third chapter concludes that acting as a performance evaluation system, EVA should have non-financial measures to compensate for its inherent shortcoming.Chapter four discusses the intellectual capital evaluation system. Starting from the limitation of the EVA evaluation model, it discusses and analyzes the components and relationship of corporate intellectual capital, the process model of 1C measurement and evaluation system, methods of 1C evaluation, and measurement of 1C efficiency. Furthermore the forth chapter analyzes the strongpoint and shortcoming of the evaluation system and points out the areas that need improvement and complementChapter five discusses the balanced scorecard. Based on thorough and systematic introductions of balanced scorecard theory framework, it focuses on the cause-and-effect relationship assumptions and the practice of tr...