Research On Performance And Efficiency Appraisal Of Automobile Listed Company

Performance comprehensive measurement is one of core problems in business management research. There were lots of researches on manager or stuff performance. However, researches on company's comprehensive performance are very few because of its complexity. Company's performance measurement was mainly focused on financial indicators. However, it is proved that pure financial indicators can't reflect Company's comprehensive performance systematically. As enlarging of company scale, the ability of adapting to the environment also should keep the pace, thus it is crucial for executive officers to discover problems clearly by way of company's comprehensive performance. The contradiction between the important role of automobile industry in our economy and the luck of its performance comprehensive measurement decided that automobile company performance measurement research has its significance. So, we must discuss it. One feature of modern enterprises is the separated relationship between principals and agencies, which requires that principals should give proper incentives and supervisions to agencies. Therefore, it is of the great importance for the modern enterprises to make performance evaluation. Financial performance is the basis and power source of enterprises' development. Since investment return is the original drive for investors to create enterprises, therefore optimizing the financial performance is the main managerial objective of investors.By comparing the development process of Performance Evaluation and the intrinsic meaning of Performance Evaluation Index System between Western country and Chinese enterprise, the first chapter analyzes the development trend of the business environment of Chinese automobile industry and list the requirement of business strategy and performance evaluation according to this trend. The Second chapter gives basic theory of performance evaluation. On the basis of automobile enterprise's management characteristic, we can give the background the purpose and the significance of the paper. The fourth chapter expatiate the design content of Performance Evaluation Index System of Chinese automobile listed companies. The quota index consists of the profit ability, the credit capacity, transport business ability and the sustained growth ability. At the same time, it also studied some common evaluation methods such as Subjective Evaluation Method, Delphi Method, Analytical Hierarchy Process and Information Entropy. The third chapter raises some problems in the current performance evaluation by the analysis of the development status quo and current performance evaluation index system of Chinese automobile companies.In the end of the paper, Principal Component Analysis (PCA) is used to search the Listed Automobile Company performance by the model. The performance indexes of the Listed Automobile Company are set up by the way of Delphi Method. By the survey of experts, we can get the framework. And then, based on the PCA, we can change the more indexes problem to the less integrated indexes problem and give reasonable weights to every index. After all the work, we can make an integrated performance comprehensive measurement. Evaluation steps and procedures are established to evaluate the integrated performance of enterprise. The dates of the paper are all got from the financial report of the companies, so they are credible. The example shows that the method can effectively evaluate performance of listed automobile companies in line with the objective reality, the evaluation results of a comprehensive and rational.This innovation spot of this article lies in finding the evaluating indicator of evaluation model by using Delphi Method and obtaining the synthesis score of different listed companies through the main ingredient analysis's method.