The Research Of Company Performance Evaluation Based On Governance By Stakeholders

Company Performance Evaluation has always been not only the frontier topics of management discipline, including accounting and financial management, but also a problem that need to solve urgently and difficultly in corporate governance practices. The formation and development of the model of Performance Evaluation has been the influence of the company performance evaluation preferences by stakeholders,and the performance evaluation preferences by stakeholders is associated with specific assets, that is, it is closely linked to the development of corporate governance and business management. Corporate governance and business management is essentially an inseparable organic unity, this unity can be summarized as " the systems of enterprise value creation and sharing." The core content of corporate governance is to properly arrange the formation of residual claims and control over the remaining contract among stakeholders, and to make contracts to be implemented; the other hand,stakeholders are measured and infiltrate the interests of access and their own contract status through the performance evaluation, performance evaluation is the mechanisms to guide and identification of enterprise contract (ie, the mechanisms of guidance and identification for stakeholder value creation and sharing). Thus, the performance evaluation model will change with the requirements of the internal and external stakeholders in changes of corporate governance models, at the same time, this brings performance evaluation model of development. In modern society, corporate governance is toward the goal of governance by stakeholders, performance evaluation model should be a corresponding change, which adapt to the development of corporate governance.Since the 80s of 20th century, there has been the continuous innovation in the field of performance evaluation, emerging out of EVA, balanced scorecard, performance prism and countless performance evaluation framework. Although each was designed as a framework for taking into account all aspects of performance evaluation, and each framework in the application can add value to the enterprise, the problem is that these frameworks are too many to result in business loss, which are not consistent with each other, Thus, it is feasible to integrate the existing advanced models of performance evaluation in the same perspective. With the development of enterprises, shareholders and other stakeholders have increasingly added to the corporate governance and management, and played a vital role in the development of enterprises,as it challenge shareholders-oriented performance evaluation model and performance evaluation indicators. In light, this article attempts to build performance evaluation model and performance evaluation index based on governance by stakeholders from the perspective of governance by stakeholders, which use standard research methodology. The purposes of the study suggest that the inability of this study was to establish a cure, tight, balanced and comprehensive performance evaluation index system of all stakeholders, because from the accessible public Ph.D. and Master's Thesis so far, such studies have only presented a novel performance evaluation under the direction of the framework, without a corresponding refinement of indicators; or a new division of the existing performance evaluation indices. For the value of this study, to begin with, this paper analysis the performance evaluation motives and conduct the role of the performance evaluation from the perspective of stakeholders, to determine the correct orientation, In addition, based on the contract of governance by stakeholders, address the reason that stakeholders can pay attention to the company performance though the analysis of specific assets,and analysis the purpose of investing its assets of the various stakeholders for addressing the aspects of corporate performance of various stakeholders, ie performance preferences; based on the performance preference, it can solve this issue that how to evaluate business performance the class of stakeholders from the building of enterprise performance evaluation indicators for such stakeholders. Furthermore, based on the collective choice theory, it can divide stakeholders into internal and external stakeholders. Through the analysis of the value chain, which acted as a carrier through core business by internal stakeholders, it can build the overall performance evaluation index within stakeholders, that is, the core enterprise performance evaluation index. Finally, it is necessary to give a qualitative analysis and quantitative analysis of the indicators, and explain the process how to analyze the use of indicators, as enable performance evaluation index system of scientific and practical. Study focuse on the logical path which demonstrated performance evaluation based on governance by stakeholders. And to present, the sample type VI is the most valuable type, which act shareholders, managers, and employees as internal stakeholders, which focus on the enterprise overall performance evaluation (core enterprise performance evaluation) as a value-chain performance evaluation forms and highlights of governance by stakeholders. while the performance evaluation indicators of the various stakeholders arise from selection of indicators under the guidance of the logic in the performance evaluation governance by stakeholders. Therefore, the core enterprise performance evaluation indices developed much more and the indicators of various stakeholders use the existing indicators more frequently, which are more relevant and more effective by demonstrating a logical reasonablely. In view of the possible complexity of the realistic and performance evaluation of its own, there are further discussion for and improvement on two types of indicators maybe.