Research On Performance And Efficiency Appraisal Of Listed Company

Performance and efficiency of listed company is the focal point to many benefits correlations which the shareholder, the creditor, the superintendent, the staff, the customer and the supplier, the government and so on. The present achievements appraisal system is unable to satisfy the demand of each appraisal main body. Many domestic and foreign experts carry on the discussion and the research on performance and efficiency of listed company, has formed each kind of theory and the method about achievements appraisal, but these theories and the method is not at the acme of perfection, all respectively had the superiority by no means, also respectively had the flaw, and these theories and the method have also received many questions in our country serviceability.The achievements appraisal already from the initial pure appraisal cost stage to today application to the enterprise strategy achievements appraisal stage. This article was precisely embarks from the domestic and foreign achievements appraisal development evolution, to re-constructed the rationale and the theory frame of evaluation of performance and efficiency of listed company. To proposed achievements appraisal main body is benefits correlation, take the enterprise value maximization as the premise, thought various benefits correlation provided the decision-making supporting information for the achievements appraisal goal. Make enterprise, superintendent as well as staff and so on as objects, carried on the synthesis appraisal in the certain principle foundation. In this theory frame foundation, and the union to EVA and the Balance Scored Card which two kind of achievements appraisals method research and the discussion, presently analyzes existent question ofour country achievements appraisal in listed company, and aims at the question to put forward the improvement proposal. This article mainly proposed four aspects improved suggestion, First is establishes the multi-angles the comprehensive achievements appraisal system to satisfy the different appraisal main body on different demand, synthesis considers the divergent interest correlation attention the target, the establishment as far as possible complete appraisal system; Second, the optimization listed company achievements appraisal system structure, from theestablishment on relation between financial index and the non-financial index, the balance financial index and the non-financial index, the reasonable hypothesis appraisal target weight and so on several aspects to put forward the improvement proposal; Third, to improve the listed company achievements appraisal indexes, should consider the stockholder's equity capital cost, increases take the market value as the foundation target, and to the non-financial indexes carries on supplement and consummation and so on; Fourth, to establish the dynamic achievements appraisal system, only some the target appraisal system which is open, may adjust at the right moment can adapt unceasingly changes and the development objective environment.