Business Performance Evaluation Of Listed Electric Power Companies Based On Improved Model Of DEA

Enterprise business performance is the end result of the managers’ operation management during the operation period. Business performance evaluation is the value judgment which measures the enterprise business activities, and important reference by which the managers take economic decisions. Electric power industry is a national and fundamental industry which is important to national economy and people’s livelihood, and the business performance of electric power industry directly relative to the operation efficiency and efforts of national asset. The establishment of reasonable and scientific business evaluation system is conducive to guide the enterprise business activities exactly, realize the strategic targets that optimum of enterprise organization structure, improvement of business quality and reinforce of enterprise’s competitive strengths. Under the recent new situation that national electric power industry system reform, according to the electric power industrial characteristics and its importance of national economy, it is more important to research the electric power enterprise business performance evaluation.First, the paper analyzes business particularity of the electric power enterprise, confirms the influence factors of business performance, based on the business particularity analysis and the influence factors of business performance, design the electric power listed company business performance evaluation index. Secondly, according to the analysis of DEA traditional models’advantages and disadvantages, the paper combines with the analysis of electric power listed company business performance evaluation particularity, establishes the business performance evaluation model of electric power listed company based on improved DEA. Finally, the paper selects 45 electric power listed companies’financial data which the major business is electric from Shanghai and Shenzhen stock markets as samples, applies the improved DEA evaluation model, reaching electric power listed company business performance evaluation scores. Based on these scores, the paper makes a very thorough efficiency, shadow and sensitivity analysis, and analyze in groups based on net incremental cash flow. By means of defining the cost intensity index, research the electric power listed company business performance impact of cash flow, based on this, reaching the comprehensive, objective and scientific conclusion about the electric power listed company business performance. It provides the effective way that measure the value of the enterprise business activities and the effective decision support that make relevant improvement measure.The paper concludes that 45 electric power listed companies’ business performance evaluation scores, the redundancy problems of the enterprises which under the lower business performance level, the cost for core business, asset-liability ratio, the income for core business and the net cash flow from operating are the key indexes for the electric power listed company business performance evaluation, and there are cost intensity and enterprise business performance impact of the net incremental cash flow.