Research On Application Of EVA Performance Evaluation In China's Oil Industry

EVA economic value added,is a measure of enterprise operating performance indicators,refers to operating profit minus the cost of debt and equity,is after all the cost is deducted from the rest of the profits,is the enterprise real wealth.Application of EVA performance evaluation in the oil industry will help to change,the status of "cheap" capital,causes the enterprise the management mode gradually from the profit model to value,avoid the traditional performance evaluation only attach importance to short-term profit targets and so on shortcomings,and guide China's oil industry managers to make the right investment decisions,enable enterprises to achieve the goal of maximizing value.This paper adopts standardize research and generalized empirical research with the combination of research methods,through the application of EVA in the petroleum enterprise is discussed,respectively,the comparative analysis of schouten,company rules of EVA index and state-owned assets supervision and regulation of EVA index difference and application of the EVA performance evaluation and traditional achievement evaluation index the difference,and according to the schouten,EVA index and sasac EVA index related calculation rules,the three major oil companies in 2007-2011 five years of statements,respectively calculates the EVA value,net profit and EVA rate were analyzed,and to fully understand the schouten,merits and demerits of the EVA index and state-owned assets supervision and administration of EVA index.Finally,according to the results and the actual situation of our country,state-owned assets supervision and administration commission EVA is suitable for application development of petroleum industry in our country,and further to the petroleum enterprise future development and applications of EVA puts forward five Suggestions,to improve the effectiveness of EVA application in the oil industry.