Research On Integrate Performance Valuation Of State-Owned Enterprises

As the main force of China's socialist market, State-owned enterprises play the role in increasing the value of state-owned assets. Most of the performance evaluation of state-owned enterprise is accounting indicators, such as corporate profits and income, which ignores the company's operating costs and other relevant factors, and exaggerate the company's profit margins. As a performance evaluation index, EVA makes up for the shortcomings of the traditional performance evaluation, which takes the cost of the enterprise into account, evaluates the performance of enterprises more objectively, and reflect the value creation of state-owned enterprises. Compared with traditional accounting indicators, EVA is more perfect. But EVA only selects financial sector indicators. There are some drawbacks when state-owned enterprises use EVA to evaluate performance, which ignores the assessment of non-financial indicators. In fact, under the concept of sustainable development, there are many other factors also affect the performance of state-owned enterprises, such as environmental protection, corporate social responsibility, and these non-financial indicators in the current performance evaluation is often overlooked. Therefore, the establishment and improve of the state-owned enterprises performance rating system is able to accurately assess the value that businesses, departments and employees create, promote better development of state-owned enterprises, increase the value of state assets, and achieve the state-owned enterprises reforms better.This paper will combines EVA that is the core of financial indicators and nonfinancial indicators to create a state-owned enterprise performance evaluation system, then use case analysis to design comprehensive performance evaluation system, and propose measures to ensure the implementation of comprehensive performance evaluation system, then verify the operability of the non-financial indicators and financial indicators in state-owned enterprises.In this paper, we will apply theoretical analysis and case study methods to analyze the existing problem of the state-owned enterprise performance evaluation system. According to the development characteristics of China's state-owned coal mining enterprises, this paper uses the state-owned coal enterprises DZ as case to analyze, points out the deficiencies in the current state-owned coal enterprise performance evaluation, and gives the perfect strategy, which is to build comprehensive performance evaluation system which combines EVA and nonfinancial indicators. The system does not deny the importance of financial indicators, and does not exaggerate the role of non-financial indicators, but considering the relationship between the two to build a comprehensive performance evaluation system. This paper aims to provide a reference for the majority of business managers by exploring the comprehensive performance evaluation system for state-owned enterprises.