Research On Performance Appraisal System Optimization Of M Steel Materials Corporation Based On EVA

With the continual development of the capital market in China,the enterprise performance is influenced much more by various stakeholders and the competition among enterprises is becoming increasingly fierce.Most of the performance appraisal of enterprises in China at present pay more attention to profit,ignoring the problem of capital cost however.It leads the result which can not reflect the company value and stockholders wealth created by the company scientifically.As an efficient tool of decision-making and management meanwhile,the EVA performance evaluation method has been widely concerned by enterprises.Seeing that the practice of EVA performance evaluation has succeed in many enterprises at home and abroad,a number of large domestic enterprises have set up the management goal of maximizing enterprise value which takes the EVA as the core.EVA making necessary adjustments to unreasonable accounting items by measuring all the capital cost of the enterprise is a new method of performance evaluation,,by which strengthened the accuracy of evaluating company's value creation.Based on the theoretical knowledge related to EVA performance assessment,this paper discusses the existing performance assessment system of M Steal Materials Corpsration with taking the physical truth as the setting.Find out the inadequacies and analysis necessity the penster striskes out the performance appraisal system.Ultimately,the penster tries to put forward the safeguards about the performance appraisal which can help enterprises accommodate to the turn of the market and promote the comprehensive competitiveness.This paper introduces EVA into the process of performance evaluation of large stateowned holding companies.In order to determine the evaluation index scientifically and reasonably,this paper which established on the full investigation uses the empowered method which combining the analytic hierarchy process(AHP)and the entropy weight method,and uses MATLAB software to determine the corresponding weights and rankings.All these methods make the selection and determination of indicators more reasonable and more persuasive.Ultimately,this paper hopes to provide reference for managers of large state-owned holding companies in the process of improving the performance evaluation system as well as promoting business transformation and development.