A Research Of Xinjiang Tianye’s Performance Evaluation-based On The Economic Value Added

From2010year, the SAC began full implementation of EVA performance evaluation at thecentral level, which greatly improves the performance appraisal of the central scientific enterprise.In2012, the SASAC has revised the " central business executives performance evaluation InterimMeasures," made it clear that to further enhance the performance evaluation of scientific,relevance and effectiveness, and promote the central enterprises to better implement the " stronger,world class " strategic objectives, proposed " weakening scale, highlighting the quality,strengthen management, stronger and better,"the assessment philosophy, and the EVA evaluationindex weight increased from40%to50%profit decline in the total index weight of20%.Therefore, to explore how to increase the value of economic indicators and the traditionalcombination of performance evaluation to improve the performance of state-owned enterprises onthe scientific evaluation is necessary.In this paper, in order to maximize shareholder wealth, based on the view that the ability tocreate economic value added performance-based assessment can guide enterprises to enhance thevalue, expect to find an analysis of the impact of specific cases of economic value added (EVA)drivers of value creation capabilities. In this paper, a clear corporate performance evaluationmeanings, based on a review of the relevant theories of performance evaluation, describes theperformance evaluation system of economic value added, economic value added (EVA) formula,adjustments and cost of capital based, and combine previously the economic Value Added (EVA)theoretical basis, a detailed analysis (EVA) financial and non-financial drivers of value creationimpact of the economic value added; Finally, specific case studies found that the impact ofeconomic value added Xinjiang Tianye drive value creation factors: asset-liability ratio,operating cash flow per share is a high impact, ROA, ROE and operating margins are moderatelyaffected, inventory turnover, fixed asset turnover, etc. is low impact.This paper selects Xinjiang NongBaShi SASAC Xinjiang Tianye Co., Ltd. as a case object,which is based on a detailed analysis to find the value drivers of economic value added, and forthe conclusions of the economic value added applications to enhance corporate value creationapproaches and recommendations. In addition, the research paper is NongBaShi SASAC-ownedenterprises to increase the value of the economic feasibility of the implementation of performanceappraisal made some exploration.