Research On The Financial Value Of Non-financial Measuers

Since the definition of the enterprise value was proposed, how to maximizeenterprise value has always been an important goal of the company managers andstakeholders to pursue, and that ever has been the focus of theorists and practitionersresearch. Usually, the focus of most research focused on enhancing the company’sfinancial performance, that is how to improve the financial indicators to enhance thecorporate value of the company. However, by recent business practices and the relatedresearches showed financial indicators existed limitations in terms of businessperformance evaluation, therefore, the study of non-financial indicators began to getattention. Compared to financial indicators, non-financial indicators more concernedabout future growth capacity of enterprises, governors of companies always paidyears of effort to improve some non-financial indicators, non-financial indicators are"indicators", which reflect the companies’ growth prospects.This article studies the relationship between non-financial indicators and thefinancial performance, and how to measure the value of non-financial indicators withquantitative indicators,2007-2012data for six consecutive fiscal year of China’slisted banks in Shanghai and Shenzhen were selected for the study sample, usingcorrelation analysis and regression test draw the appropriate conclusions, and givingsome research suggests from the three perspectives of commercial bank executives,regulators, and outside investors.Chapter1is the introduction, from the research background, purpose andsignificance of research presented, as well as research methods and research ideas inthis paper were adopted.Chapter2is the theoretical foundation and literature review, theoretical basisincluding the enterprise performance evaluation related theory and agency theory andcontingency theory, literature review includes the domestic and foreign literaturereview. Foreign literature review part, mainly describes the non-financial indicatorsvalue relevance of empirical research and non-financial information disclosure reviewtwo aspects; Domestic literature review part includes the two aspects of research, alsoreviewed our country commercial bank the research of enterprise performanceevaluation system.In chapter3, from the perspective of the types of non-financial indicators, Threeoptions methods of non-financial indicators were outlined, then, variables were selected for this study, through the questionnaires, after explaining the purpose of thedesign of questionnaire, The results of the questionnaire survey were collated andstatistical analyzed.Chapter4is the empirical part of this study, based on the survey results and theactual, the market share, innovation, internal controls, staff to maintain and employeetraining were selected as an explanatory variable in this article, Tobin’s Q was as aproxy of measuring financial performance, by correlation analysis and regression test,Come to that market share, innovation, internal control was significantly associatedwith financial performance, Regression coefficients of the non-financial indicatorswere used as a considerable value of Tobin’s Q, That is a measure of the financialvalue of non-financial indicators, meanwhile according to the numerical size of theregression coefficients, non-financial indicators were sorted.Chapter5is a summary of the article, according to the results of empiricalanalysis, Conclusions of this paper are obtained, and on this basis, Some researchproposals were proposed from three perspectives of commercial bank executives,regulators, and outside investors. Finally, the limitations of this study were pointedout, and the outlook of future research directions was given.