Research Of EVA Performance Evaluation System In The Application Of Central Enterprises Expansion

American Stern Stewart company at the end of twentieth Century with aperformance evaluation system of economic value added, it will be the first time thisfactor capital cost into account, that will bring real benefits to the enterprise theenterprise only create value investment returns higher than the cost of capital, ratherthan merely creates the accounting profit, it tells us that even if the profit is positive,as long as the EVA is negative, it means that the project doesn’t create value for theenterprise, it tells the management to consider all the capital of enterprises includingequity, cost, prudent consideration investment decision, make up for the deficiency ofthe traditional accounting financial index system of the to some extent, can be moretrue to reflect the operating results of enterprises.In2010, the SASAC of the State Council issued the "Interim Measures"assessment of the operational performance of persons responsible for the centralenterprises, the full implementation of the economic value added evaluation in thecentral enterprises, the new way to use economic value added of the index instead ofthe original net assets yield index, and the profits from the SASAC central enterprisesas the head of the two an important indicator of performance evaluation, and hasundergone two revisions, in2012by the end of the economic value added ratioincreased to50%, the weight to the total profit of20%, responsible for the centralenterprises began to value management as the performance goals assessment period.Along with the construction and perfection of the SASAC of central enterprisesresponsible for the EVA performance evaluation system, how to better understand theEVA performance and EVA performance index system, the formation of businessperformance evaluation system according to the characteristics of the centralenterprises and the establishment of the correct behavior guidance, bring a specialentity of central enterprises, the central enterprises bigger and stronger, more andmore attention.This paper introduces related theory of enterprise performance evaluation,including the EVA theory and BSC theory foundation, summarizes the development stage of performance evaluation of central enterprises, reveals the application statussince2010after China’s implementation of the EVA central enterprises, found theEVA performance evaluation system, the advantages and disadvantages, drawinglessons from the achievements of development theory of performance evaluation athome and abroad through the introduction of implementation, the extended EVAevaluation system for the central enterprises to improve performance evaluationsystem, China’s central enterprises, the formation of the enterprise comprehensiveperformance evaluation, to better realize the value of enterprise management, andpromote the sustainable development of enterprises.