The Performance Evaluation Of The State-owned Enterprises Based On Gray Correlation Analysis

The state-owned enterprises(SOEs) are an important force in China's national economy. SOEs'performance reflects the level of operation and development of SOEs. Therefore, the performance evaluation research of the SOEs has more important theoretical and practical significance. Whether SOEs performance evaluation index system is correct and complete or not, and whether performance evaluation methods make the right choices or not directly reflect the true operating performance of SOEs and affect the capital preservation and appreciation of the SOEs. Scientific and rational performance evaluation index system and the correct evaluation methods play an important role in the formulation of business strategy, assessing business goals and determining the remuneration enterprise management projects.This paper introduces the knowledge and reviews the performance evaluation theories of SOEs, concerning evaluation index system and evaluation methods, focusing on the situation analysis of performance evaluation at home and abroad, making a comparison on determination methods of index weight.Secondly, this paper researches the local State-owned Assets Supervision and Administration Commission on performance evaluation for the SOEs.And it summarizes the situation and problems of SOEs'performance on evaluating index system, evaluation method, such as:the construction of SOEs performance evaluation index is not comprehensive enough, so it dose not fully capture the real situation of enterprises; the financial indicators proportion is too large, the weight distribution is high impacted by the subjective indicators; the evaluation method is too single, lack of objectivity.At last, after analyzing the existing situation, this paper builds the index system which includes profitability, asset quality, debt risk, business growth, customer satisfaction, personnel management, innovation, enterprise operation and management, social contribution for SOEs'performance evaluating, based on the feature of SOEs, taking full account of the context of social responsibility, combined with state-owned enterprise management practice, then uses the group grey incidence degree to define the weight of index. It uses the grey incidence method to evaluate the performance of SOEs and applies this method to a specific company. It is proved that this model can be used to evaluate the performance of SOEs.