The Research On The Index System Of Enterprises Performance Evaluation Based On EVA

There is a large defect in China's existing Enterprise Performance Evaluation Systemwhich was mainly based on accounting profits and took the relevant indicators of the balancesheet and the income statement as the core. Along with the development of the capital market,the existing performance evaluation indicators only consider the cost of debt capital withoutthe rights and interests that causes the cost computation incompletely. Therefore, it is unableto judge the accurate quantity which company creates for the shareholder, and it is easy tocause the short-term management behavior. Through adjusting the financial information tooriginal state, EVA aims to reflect the real growth of shareholder value. EVA tries to give theoperators and the investors common basis of the interests, that helps the operator recreates asthe maximum benefits of investors, and maximizes the interests of rights owners. Accordingto many defects in existing performance evaluation system, and in order to provide investorsand creditors a more comprehensive analysis and objective conclusions, this thesis willintegrate the financial and non-financial indicators together, combine with EVA and theBalanced Scorecard, use the Analytic Hierarchy Process (AHP) to weight the indicators, andfinally build the enterprise performance evaluation index system based on the EVA. The set ofappraisal index system not merely pays attention to the short-term finance achievement, evenmore pays attention to the enterprise value creation on the entire process. The thesis hasprompted the true factors in the growth of the enterprise achievement so that we can appraisethe enterprise management achievement more comprehensively.The article is composed of seven parts: Part I is the preface. Part II has outlined thetheory of the Performance Evaluating and the EVA. Part III has analyzed the existingproblems of the performance evaluation index system. Part IV is the main part of the article which has constructed the integrated enterprise performance evaluation index system based onthe thought of the Balanced Scorecard and the non-financial indicators, and then hasempowered each indicator in accordance with the AHP. Part V has taken the China Petroleum& Chemical Corporation as an example to applicate the performance evaluation indicatorsystem to practice. Part VI is the problem that should be pay attention to. Part VII is theconclusion.