Method Research Of Senior Executives Of State-Owned Petrochemical Enterprises Performance Evaluation Based On Multi-Task Principal-Agent Model

Based on multi-task principal-agent Theory, combined with thedouble goals of economics and environment, this paper discusses seniorexecutives of state-owned enterprises performance evaluation, takingpetrochemical industry as an example. First of all, based on the literaturereview, collation and analysis, an introduction of the present situationsof environmental pollution problems and human resource managementin petrifaction enterprises is put forward. Secondly, this paper grasps theprincipal-agent theory, inducing the development of principal-agenttheory, from a single-task principal-agent theory to multi-task principal-agent theory, and then to the development and application of multi-taskprincipal-agent model. Thirdly, in reference to Holmstrom andMilgrom’s multi-task principal-agent model, on the basis of the severalapplications of it at home and abroad, combined with the background ofpetrochemical enterprises, making assumptions of the cost function andthe benefit function from executives’ efforts, the paper derived the mathematics result through the final determination of the executives ofpetrochemical enterprises performance evaluation coefficients, namelythe first order conditions of state-owned enterprise executives tomaximize total uncertainty income.Fourthly, studying dependencies between double tasks of theeconomics and the environmental protection, the paper analyze theperformance evaluation coefficient respectively on the cost relevance oftwo kinds of endeavors----independent, alternative, or complementary.Finally, taking executives of petrochemical enterprises as the researchobjects, through deducing first-order conditions of the maximization ofcertain income, the paper provides with applied researches, concludingwith the suggestions and countermeasures from the microcosmic aspectfor state-owned enterprises to achieve "win-win" goals of the economicdevelopment and environmental protection.