The Reseatch Of Non-Financial Inkicators In The Evaluation Of Performance Of Listed Companies

As of the end of2011, there are more than2000China’s listed companies in securities market, with the value exceeded26trillion Yuan and securitization rate of67%. Despite the large number of China’s listed companies and their market value, the undeniable quality of listed companies is uneven. There is an urgent need for a comprehensive evaluation system for the performance of listed companies. However, the mainstream evaluation system is in the traditional financial indicators-based, although adding some non-financial indicators. There lack of the exploration about choices and weight of the non-financial indicators.Topics of meaning and purpose of this paper is that through the introduction of non-financial indicators of the need for and establishment of non-financial indicators, methods and procedures for in-depth study to cause all kinds of enterprises for the importance of non-financial indicators, and their actual collected using non-financial indicators to provide specific practical guidance program.This paper first introduces the background of the performance evaluation to explore the theoretical and practical significance of the introduction of non-financial indicators in the evaluation system proposed the perspective of the subject of study, research methodology and research. Then in the second chapter describes the enterprise performance evaluation related to support the theory:the principal-agent theory, contingency theory, corporate strategy theory and stakeholder theory. The third part will focus on the analysis of non-financial indicators of system design principles and selection methods, as well as an important factor to consider. Followed by a discussion about the weights of evaluation indexes of the analytic hierarchy process and evaluation methods. The fourth chapter will combine the characteristics of China’s steel industry, designing and building evaluation system for non-financial indicators of iron and steel enterprises. Part Ⅴ use the method of random number tables to select the two listed steel companies, the use of previously constructed evaluation system to evaluate its performance and use the results of the analysis of financial indicators, and the results analyzed. The sixth part of the misunderstanding of the defects with the use of non-financial indicators. Finally, draw conclusions, pointing out the inadequacies of the paper.It is worth noting that the reference to non-financial indicators of the original intention is to make up for the traditional financial indicators-based evaluation system. Non-financial indicators and financial indicators should be used in combination, which is the premise of this study.