Research On Performance Evaluation System Based On Maximization Of The Value Of Enterprises

Nowadays, performance evaluation of enterprises in society has been a topic of concern and there are different kinds of performance evaluation methods. From the original financial evaluation system only to the later comprehensive one, it has experienced a long process of evolution. It assignably affects the company's effectiveness of operation that whether they choose a suitable method of performance evaluation. On the base of the analysis of concepts and goals, this paper expatiates on the history of the performance evaluation system, the status quo of the relevant research, and the evaluation methods that are currently used domestically and overseas. The author of this paper uses comparative analysis of the domestic and international methods and through the inductive approach to identify the advantages and disadvantages of them. This paper focuses on the effectiveness of EVA system to help enterprises to choose the most suitable method in the perspective of maximizing the value of enterprises.Sticking to combining theory and practice together, this paper starts with studying present practices of China, summarizes China's various theoretical evaluation methods, and then analyzes the status quo and limitations of the capital market of state-owned enterprises with the example of YD Financial Leasing Company. The aim of this article is to establish an effective system based on EVA theory, which will improve China's performance evaluation system. This paper mainly concerns the following issues:1. The history of performance evaluation method, the theoretical foundation and development process;2.Analyzing and comparing different Performance Evaluation systems, such as EVA, BSC, MVA and DuPont Financial Analysis System; absorbing beneficial experience and the proper usage of these evaluation methods;3. Combining EVA theory with the financial goals of value maximization, and proposing that there should be a more suitable EVA-Based evaluation system in China;4. On the basis of the above research and the analysis of YD Financial Leasing Company's evaluation system, drawing on the relative experiences of establishment of China's performance evaluation system.