Research On The Performance Evaluation System Of Listed Companies In China's Coal Industry

Coal resources are the most abundant energy sources in China,and also the lifeline of national construction and economic development.The performance level of the coal industry reflects and influences the situation of the entire national economy.Therefore,it is very important to evaluate the performance of coal enterprises scientifically.Based on the basic theoretical knowledge of econometrics and financial management,this paper constructs the performance evaluation system of listed companies in China's coal industry by theoretical analysis and empirical research.And evaluating operating performance of 29 coal industries belong to A shares in 2016,and evaluating operating performance of "yanzhou" coal industry according to its nearly five years data,and put forward related suggestions.Here is the primary work and conclusions:(1)Base on the 2016 annual report data of 29 coal industry listed companies of A-shares in China,building coal listed company's financial performance index system from the debt service,operation,profitability and development capacity,using the principal component analysis and regression analysis to filtrate and expand financial performance indicators.(2)From the production safety,energy conservation,environmental protection,scientific and technological innovation,social responsibility four aspects to build non-financial performance indicators system of coal industry listed companies by Combining with the characteristics of coal listed company management and development trend.Constituting the financial indicators and non-financial performance indicators system as coal listed company performance indicators system;Respectively using the AHP analytic hierarchy process(AHP)and entropy value method for all empowerment evaluation indexes,combining both weight as a result,after using the combination method for the coal industry listed companies performance evaluation index system,determining the weight to set up a complete performance evaluation system of the coal industry listed companies.(3)Appling the performance evaluation system to evaluate operating performance of 29 listed companies of coal industry in our country and "yanzhou" coal industry by its nearly 5 years data,the evaluation results are obtained and relevant suggestions are given.The results show that the overall performance of state-owned coal listed companies is stronger than that of non-state-owned coal listed companies.The non-financial performance of the whole industry is generally poor,and the overall management of coal enterprises in the future needs to be appropriately tilted to non-financial aspects.Financial indicators,profitability performance is the most prominent,operation ability more close relations with other financial indicators,coal enterprises should accurately grasp the relationship between financial performance and non-financial performance,make balance development and overall consideration,finally improve the comprehensive performance level of enterprises.