Study On The Listed Company Performance Evaluation Based On EVA-BSC

With the continuous development of the economy, enterprises are facing increasinglyfierce competitive environment. In order to enable enterprises to achieve long-termdevelopment in varies challenges, shareholders and managers gradually realize theimportant role of performance evaluation for the development of enterprises in themanagement process. A reasonable and effective performance evaluation system， whichcan monitor and motivate managers’ behavior to maximize shareholder value, while makegreat efforts on long-term development based on corporate strategic objectives. Afterdecades of continuous development and improvement, the enterprise performanceevaluation system and method have been developed by leaps and bounds, from the initialfinancial statements analysis, to the EVA method which considering the cost of capital;from a single financial indicator evaluation, to the enterprise comprehensive performanceevaluation by the integrated non-financial indicators BSC. As the backbone of economicdevelopment, China’s listed companies performance evaluation is still using the traditionalfinancial indicators, which to a certain extent hindered the development of listedcompanies. Since2010, central business executives have taken EVA PerformanceEvaluation, which provide a new direction of thinking of the performance evaluation of thelisted companies.By analyzing the performance evaluation system development process, this paperfocusing summarizes the research at home and abroad of EVA and BSC, and in previousstudies and based on the idea of building proposes the EVA-BSC evaluation system. Theinnovation of this paper is reflected in the necessity and feasibility of the application ofEVA-BSC evaluation system in China listed companies, at the same time uses analyticalhierarchy process to calculate the weight of each index, finally, this paper uses the fuzzycomprehensive evaluation model to comprehensively evaluate of the economicperformance of listed companies. In this paper a listed company is given as an example todescribe the specific use of the method. This paper also evaluates the performance of theenterprise and proposes improvements of the management of this company.