Research On Performance Evaluation Of Petroleum And Petrochemical Enterprise Based On The Triple Bottom Line

Under the background of economic globalization,Chinese petrochemical industry has been gradually opened up.In recent years,by the impact of international oil prices,we are facing increasingly serious external competition.Enterprise performance evaluation will help enterprises to development sustainably.Because the specific characteristics of petrochemical industry,enterprises should fulfill the social and environment responsibility in the meanwhile pursuit the economic interests.In the 20th century,British scholar Elkington proposed "Triple Bottom Line" theory,the core of the theory is that enterprises should establish environment performance and social performance with the stakeholders not only the pursuit of economic performance.Apply the Triple Bottom Line theory to the petrochemical performance evaluation system could help enterprises fulfill the social and environment responsibilities and economic performance.Firstly,this paper describes the background and the significance of topic and related research,describes the characteristics of the petrochemical industry and related theories about the Triple Bottom Line.Based on the Triple Bottom Line theory and the characteristics of the petrochemical industry,establishing a performance evaluation system from three aspects:economic performance,environment performance and social performance.This paper uses Analytic Hierarchy Process to determine the weight index of each indicator,and discusses related method to analyze the financial and non-financial indicators.Through analysis the cases of Sinopec Group and China National Petroleum Corporation to prove that applicability of the performance evaluation index system constructed in this paper.From the theory and practice can prove that the Triple Bottom Line theory is applied to the performance evaluation index system.Finally,this paper summarizes the lacking of the petrochemical performance system.In this paper,through the construction of oil and petrochemical enterprises performance evaluation system and the China Petroleum and Chemical Industry Group and China National Petroleum Corporation,for example,China Petroleum and Chemical Group's enterprise and China National Petroleum Corporation performance evaluation score.Sinopec Group 2013-2015 scores are different and floating larger,but the performance rating is B+.The performance rating of China National Petroleum Corporation is B+ in the 2013 and 2014,but in the 2015 the performance rating is B~-.