Based On The EVA Method To Analyze The Impact Of "Two Invoice System" For China's Pharmaceutical Listed Circulation Companies' Business Performance

In recent years,with the deepening reform of China's market economy,the entire medical environment has been constantly changing,and risks and challenges coexist for various types of pharmaceutical companies.In order to deepen the reform of the medical and health system and promote the healthy development of the pharmaceutical industry,China has put forward an important measure of “two invoice system” in the field of pharmaceutical circulation.What effect does the “two invoice system” policy in the pharmaceutical circulation field have on the operating performance of Chinese pharmaceutical listed companies? Under the background of the "two invoice system" policy,a reasonable analysis of the operating performance of China's pharmaceutical companies can be conducted to explore the impact of the implementation of the "two invoice system" on pharmaceutical companies.At present,most of the traditional performance evaluation methods do not take into account the cost of equity capital,which often leads to many enterprises can not effectively and objectively evaluate the business performance of the enterprise.In order to more objectively evaluate the impact of the "two invoie system" on the performance of pharmaceutical companies,this paper mainly uses EVA analysis method to conduct a quantitative analysis of the operating performance of China's pharmaceutical listed circulation enterprises.In the period before and after the promulgation of the "two invoie system" policy,the economic value added(EVA)of large-scale pharmaceutical circulation enterprises listed in the main board of the A-share market in China's pharmaceutical circulation field was selected for empirical analysis to judge the "two invoie system".The impact of policies on business performance.This paper expounds the basic concept of China's "two invoie system",the development and influence of "twoinvoie system",the relevant theory of EVA,the selection of EVA indicators,and the comparison between EVA and traditional performance evaluation methods.Under the background of China's "two invoie system",select representative enterprises in listed pharmaceutical circulation enterprises,take Huadong Medicine as an example,use EVA method to empirically analyze its business performance,and analyze the application of EVA performance evaluation methods by pharmaceutical enterprises.Experience is intended to provide reference to other pharmaceutical companies.