Research On The Index System Of Performance Evaluation Of Certral Enterprises

As an important pillar of the national economy, the state-owned enterprises are building a moderately prosperous society in an important force, and also important basis for the ruling party. The establishment of state-owned enterprise performance evaluation system is an important innovation of state-owned assets management system reform, and also an important step of the state-owned enterprises as market entities to accept supervision of the investor. At present, the establishment of standardization and institutionalization of state-owned enterprise performance evaluation system is just beginning, is still in the exploratory stage in-depth research and constant, despite a lot of valuable experience, there are some issues to be addressed letter. The central enterprises are the main force of China's state-owned enterprises, so the central enterprise performance evaluation system to conduct the study on a very real sense, this article would be to address the existing centralized enterprise performance evaluation system deficiencies and make suitable amendments and the establishment of a suitable condition of our country's central enterprise performance evaluation index system. Correctly and completly or not construct the index system of central enterprises'performance evaluation directly related to the ability to comprehensively reflect the true operating performance of central enterprises, directly affecting the central enterprises of capital preservation and appreciation. China's central enterprises are working among the international market competition, corporate management level also subject to serious challenge. Scientific and rational performance evaluation index system in the formulation of business strategy, assess business goals and identify business management aspects of the remuneration plans play an important role.In this paper, the traditional performance evaluation system does not accurately evaluate and measure the overall performance of central enterprises the real problem-oriented, to the relevant theoretical analysis, based on the organization in accordance with the following line of thought the full text is divided into six chapters:Introduction, Literature Review, China's central enterprise performance evaluation system for the status quo analysis, the central enterprise performance evaluation system for the amendment, the amendment's central enterprise performance evaluation system for empirical research, conclusions and research prospects. Each part roughly as follows:Chapter 1 introduction to topics of this paper pointed out the basis and objectives put forward the meaning of this research study to define, research content and method. One study defined to include the definition of central enterprises, enterprise performance evaluation of the definition and scope of the study definition, the definition of enterprise performance evaluation also includes the evaluation of the main, the evaluation object, evaluation indicators, evaluation criteria and evaluation methods defined. This paper supports the concept of multi-principal theory, that the evaluation should be expanded to include the main shareholders, creditors, managers, employees, suppliers, consumers, government, including a number of stakeholders, the evaluation of this object is the central enterprise performance, evaluation of including the central business profitability, asset quality, debt risk and operational growth, the evaluation indicators include the financial indicators and non-financial indicators.Chapter 2 of the enterprise performance evaluation undertook a review of relevant theories, pointing out that the theory of enterprise performance evaluation is based on information economics and principal-agent theory, has some of the current research literature at home and abroad were summarized, as the business continued reform and development, enterprise business performance.Chapter 3 from the evaluation of the indicator weights, evaluation criteria and scoring methods in four areas of the existing central business performance evaluation system to analyze and sum up its characteristics and point out its problems. Evaluation index by 22 quantitative evaluation of financial performance management performance indicators and eight qualitative assessment indicators. Quantitative evaluation of financial performance indicators reflect the profitability of the business by the state, asset quality status, the debt situation of risk conditions and business growth in four areas of the eight amendments to the basic indicators and 14 indicators of composition, for the comprehensive evaluation reflected in corporate financial accounting statements operating performance status, qualitative assessment of management performance indicators include strategic management, development and innovation, management decision-making, risk management, basic management, human resources, industry impact, social contribution of eight indicators in the area, mainly reflecting a certain business enterprises taken during the the various management measures and their managerial effectiveness. Enterprise Integrated Performance Evaluation of index weights to implement percentile system, based on evaluation index weights the importance of indicators and targets to guide function, by seeking advice of expert advice and to organize the necessary tests to determine. Quantitative evaluation of financial performance indicators of the weight determined to be 70%, management performance indicators for qualitative assessment of the weight determined to be 30%. In practice, the evaluation process, quantitative evaluation of financial performance indicators and management performance indicators for qualitative assessment of the weight percentage of the system according to set, we calculate the sub-index score, and then converted by 70:30.Chapter 4 on existing enterprise performance evaluation index system of the central limitations of proposed amendments to the central enterprise performance evaluation index system of principles, according to the principles of existing problems and put forward relevant indicators were amended its total assets, return on surplus cash coverage ratio, cost margins were revised to total assets pre-tax profit margin, operating profit rate of the cash security, cost operating profit margin on the asset-liability ratio, accounts receivable turnover formula has also been amended to establish a revised After the central enterprise performance evaluation index system.Chapter 5 is the empirical part of the article selected for China Unicom as an empirical object, right before and after the amendment of the Central Enterprise Performance Evaluation System made a comparative analysis points out the revised indicator system is more scientific and rational of reasons for that.Chapter 6 is the conclusion of this article, from the general right of this article summarizes the research points out the limitations of this study, due to limited capacity, only the quantitative evaluation indicators were revised, without an amendment to the appraisal targets, but their specifications to make recommendations, making the index system is inadequate. This study only the existing central business performance evaluation system of relevant indicators has been amended on various parts of evaluation index system, the proportion of the total evaluation criteria, as well as state-owned enterprises still used in the existing system of performance appraisal practices, subject to individual ability constraints, and not been able to work out a reasonable way to determine the index weight. At the right time to amend the relevant indicators are subjective ideas, it is possible because the individual's knowledge and ability to amend the restrictions caused by the unreasonable target. Due to the time and personal capacity constraints, can not work out for all sectors of different indicators. So in future research in the hope that the various indicators according to different industries to determine the proportion of the quantitative evaluation index with a reasonable qualitative evaluation indicators to amend and improve enterprise performance evaluation system resources. At last, prospects for future research.In research methods, this paper studies and empirical research standardize the method of combining the existing central business performance evaluation system for theoretical analysis, and summarized its characteristics and to identify its limitations lie, and on this basis, to make some of the relevant indicators amendments, select China Unicom, as empirical objects, respectively, before and after the amendment's central enterprise performance evaluation system to analyze the study results were obtained after the comparison, analysis shows that the revised central enterprise performance evaluation system is more scientific and rational nature of the final review of this paper are summarized, and points out the shortcomings, but also for future research were prospected.