Brief Analysis On Performance Evaluation Index System In Our Country State-owned Enterprise Based On EVA Theory

After China join in WTO,the economy is rapid development and modern enterprise system is gradually perfect. The state-owned enterprises are growing stronger and participate in the international competition. The importance of enterprise value evaluation has been increasing. Accounting profit as the core of the comprehensive performance evaluation can't truly reflect the operating performance. Because it only considers of debt capital costs and ignores equity capital cost. Accounting profit as the core of the comprehensive performance evaluation to state-owned enterprises evaluate operating performance not only cannot reflect the state-owned enterprise operational performance, also prompt some state-owned enterprise excess pursuit of net profit index, blind scale expansion, inefficient capital takes up overmuch and capital efficiency not higher etc. So we need to construct a new performance evaluation system which can overcome the defects of the performance evaluation system today. This system also can play value guidance function and urge state-owned capital value increase. In the 1980s, EVA was put forward by American Stern Stewart & CO. which is suitable for enterprise performance evaluation and value management. Focusing on capital cost,encouraging value creation,highlighting business and improving the service efficiency of funds as the core concept of EVA will have a lot of help for perfecting our country state-owned enterprise performance evaluation system.Firstly, this paper describes the concept,elements,functions,theoretical basis and development history of enterprise performance evaluation. Secondly, this paper explains the meaning and calculation of EVA, and points out that the advantages and disadvantages of EVA as performance evaluation index. Thirdly, this paper describes and analyses the development of our country state-owned enterprise performance evaluation. It also points out the problems of our country state-owned enterprise performance evaluation system and proposes the vital significance of the application of EVA in our country state-owned enterprise performance evaluation. Finally, this paper gives some suggestions about constructing our country state-owned enterprise performance evaluation system to construct our country state-owned enterprise performance evaluation system which regards EVA as the core. The accounting adjustment and calculating method of EVA have been made adjustment in this system to suit for our country situation. In this system, EVA is the core performance evaluation index, the other financial performance evaluation indexes and non-financial performance indexes are auxiliary indexes. So it can realize the objective and fair of our country state-owned enterprise performance evaluation and the operation efficiency of the state-owned assets.