The Research On Performance Evaluation Of Stakeholder Enterprise

With the development of knowledge economy and the emergence of newelement capitals, the core status of traditional financial capital in the process of valuerealization was vacillated and the thinking mode of “physical capital first” was broken,which triggered a reevaluation of value maximization off in all sectors of society. Andresearch perspectives begin to shift towards stakeholders. Stakeholder enterpriserepresents a value creation system which contracts through collective choice andcombines specific economic resources to realize the common objective ofstakeholders.In stakeholder enterprises, core capital plays a key role in promoting enterprisevalue and gaining competitive advantages. The process of value creation is based oncore resources and the value creation capabilities are determined by the keyvalue-driving forces based upon core capital (the performance potential, performancecompetence and performance strength that affect and drive value creation). The mainobjective of stakeholder enterprises is to realize the maximization of enterprise value.The realization of the objective is reflected in the variation of enterprises’ intrinsicvalue and market value, while the realization mechanism of enterprise value creationderives from the core capital-driven different value chain. This dissertation classifiesstakeholder enterprises into financial capital-oriented, intelligence capital-orientedand social capital-oriented enterprises and so on, according to the different roles ofcore capitals. And these kinds of enterprises have diverse capital directions, valuechain management systems and supporting systems. Therefore, the above featuresmust be considered thoroughly when we conduct theoretical research and methodbuilding on the performance evaluation of various types of enterprises.Performance evaluation of stakeholder enterprises means that stakeholders ofenterprises adopt certain methods to evaluate whether the operating results meet theexpected standards according to the goal of maximizing value. A scientific andreasonable performance evaluation system can be used to determine the realizationdegree of enterprise objectives, to assess the effectiveness of core capitals in course ofvalue creation and to boost strategic resources integration and corporate restructuring.The design of performance evaluation systems should follow the principles of combining process evaluation with outcome evaluation, comprehensiveness withimportance, and unity with differentiation. The performance evaluation systemprovided in this thesis consists of the following seven elements: evaluation subject,object, objective, standard, method, indicator and conclusion. For various types ofstakeholder enterprises, there are different objective settings, scope of subjects,objects of evaluation and so on, which leads to special demands for evaluationindictor, standard and method.With the help of the “quaternity logic system” of performance potential,performance competence, performance strength and value creation, the thesis designsthe general framework of performance evaluation of stakeholder enterprises. At thesame time, the paper respectively builds personalized performance evaluation systemand conducts case study for financial capital-oriented, intelligence capital-orientedand social capital-oriented enterprises.