Study On Operating Performance Evaluation Of Urban Public Enterprises In China

This paper evaluates the operation status of urban public enterprises scientifically and comprehensively, and analyzes the performance situation quantitatively. It can not only enrich the content of urban public enterprise management theory, but also have important theoretical and practical significance on deepening market-oriented reform of urban public enterprise and promoting the development of urban public utilities. Based on the research of scholars at home and abroad and the actual situation of our country's economy, the paper evaluates and analyzes operating performance of urban public enterprises comprehensively. It provides theoretical support and practical information to improve the performance level of urban public enterprises.Full text is divided into seven chapters, as follows:Introduction and literature review. First, we introduce the research background, purpose, significance of paper, research framework, methods and techniques line used in this study. Second, we sort out and review the main literatures on performance evaluation of urban public enterprises. Third, we show the specificity and generality of performance evaluation of urban public enterprise which laid the foundation for further study.The theory and method of performance evaluation of urban public enterprise. First, this chapter defines the meaning of performance evaluation of urban public enterprise and describes the main content of the elements of performance evaluation, evaluation procedures and evaluation functions. Second, this paper describes the theoretical basis of performance evaluation of urban public enterprise, and introduces basic ideas and theoretical development of performance evaluation theory of urban public enterprise such as enterprise value theory, target management theory, systems management theory, contingency management theory, control management theory and stakeholder management theory. Third, it introduces the quantitative analysis method used in the papers briefly which are factor analysis, cluster analysis, discriminant analysis, data envelopment analysis and panel data model. They provide technical support to analyze operating performance of urban public enterprises systematically and comprehensively.Construct index system of performance evaluation of urban public enterprises. First, this paper points out that we should establish the index system of urban public enterprises performance evaluation according to the principles of the basic of benefit evaluation, scientific, hierarchical, operability, comprehensive and importance. Second, according to the certain period of comprehensive performance, this chapter proposes the overall frame of performance evaluation index system of urban public enterprises from the five aspects of profitability, solvency, operation, internal management and social benefits creation. Third, considering the various factors which are affect operating results of urban public enterprises, we select the index which are included return rate of total assets, main operation profit rate, rate of profit based on the cost of production and expenses, ratio of cash to current liabilities, debt-to-asset ratio, liquidity ratio, total asset turnover, accounts receivable turnover, total assets growth rate, per capita profits, completion rate, equipment new coefficients, social contribution rates, jobs rate and environmental capital expenditure ratio to build performance evaluation index system.Identify impact factors and corporate diversity of operating performance of urban public enterprises. First of all, combined with the constructed performance evaluation index system of urban public enterprises, this paper uses factor analysis to identify five factors affecting performance which are profitability factor, debt factors, operating factor, internal management factors and social benefits factors, and finds that they can have an important role to improve the operating performance of enterprises. Secondly, according to the main factors identified by cluster analysis, we plot out category of urban public enterprise. The results show that the selected companies can be divided into two major categories of good operating performance and poor operating performance. Finally, based on the classification of enterprises category, the chapter constructs the function of classification of enterprises category using discriminant analysis and provides the standards of division of state of enterprises performance.Analyze the dynamic changes of the overall technical efficiency and total factor productivity of the urban public enterprises and discusses the effect of external economic environment on operating performance. Firstly, this chapter used the DEA method to measure change of the overall technical efficiency of the performance of urban public enterprise, and overall technical efficiency is decomposed into pure technical efficiency and scale efficiency to analyze the main elements of overall technical efficiency, giving the direction and recommendations of efficiency improvement. The one hand, enterprises can reduce costs to improve enterprise profit margin. On the other hand, enterprises should use of advanced information technology to improve asset management capabilities, and change the mode changes from extensive to intensive to improve the core competitiveness of company. Secondly, this chapter analyzes the dynamic change features of total factor productivity of urban public enterprises, and total factor productivity is decomposed into technical efficiency and technological progress. Study finds that urban public enterprises still needs to strengthen the optimized resource allocation to improve the overall performance level. Finally, on this basis, we also analyzed the effect of external economic environment to the efficiency of urban public enterprises. Indicators such as economic structure, market-oriented, level of industrialization, technological progress, and cost price have a major impact on enterprise performance. Adaptation to external environment change apace is the necessary condition that the enterprises can improve the corporate profitability, maintain healthy and steady development.Conclusion and prospects of the study. This paper evaluates the performance of urban public enterprises comprehensively, and finds that the level of urban public enterprise performance can be improved. There is need to innovate management manner and business concepts of urban public enterprise. For the conclusion of the study, this paper proposed five measures: Urban public enterprises should strengthen internal controls and reduce operating costs and expenses further; Make full use of advanced technology and build technology innovation system; Speed up the training of technological and economic talented people, reserve human resources to build the core competitiveness of enterprises; Ensure that city public enterprise management mode adapting to the change of external economic environment; Deepen the city public enterprise reform which core is the property rights system, and establish a modern enterprise management mechanism. Finally, based on the limitations of this study, we point out the direction of future research.