Research On Performance Evaluation Of JH Real Estate Company Based On EVA

Since the abolition of the welfare housing policy in 1998,the real estate industry as one of the most important pillar industries of China’s national economy,has been in a high-speed development stage.With the decline of China’s economic growth in 2012 and the national macro-control overweight,the real estate industry performance ups and downs,the traditional performance evaluation system,such as the existence of many shortcomings such as too short-term indicators,ignoring the cost of equity,etc.are gradually exposed.From the perspective of the real estate enterprises themselves,it is very important to evaluate the scientific and reasonable performance of the business operation,make up for the shortcomings of the traditional evaluation system,find the existing problems in the operation and the access of improvement.Based on the theory of Economic Added Value(EVA),this thesis firstly analyzes the situation of JH real estate co.from the perspectives of solvency,asset operation,financial efficiency and development ability by using the existing performance evaluation system from2012 to 2015.The total assets size,return on net assets and other indicators have continued to decline,while the existing performance evaluation indicators can not explain the current contradictory situation.Followed by the method of comparative analysis,the combination of qualitative and quantitative research methods,the introduction of Economic Value Added theory,through the accounting adjustments of impairment of assets,deferred income tax,construction in progress and R & D publicity costs and other individual projects,calculate the Economic Value Added of JH real estate co.in detail,compare the Economic Value Added index with the existing performance evaluation index and conclude that the EVA performance evaluation system is more suitable for the JH real estate co.Finally,it is suggested that the Economic Value Added can be improved by improving the strategic management ability and optimizing the project positioning.Sum up the problems that should be paid attention to in application.Combining the case study of EVA performance evaluation system based on JH real estate co.,hope to provide a reliable basis for real estate enterprises to carry out daily business activities more objectively and impartially in the future,...