Research On The Performance Evaluation Of Listed Media Companies Based On The Balanced Scorecard

Performance evaluation is widely used in the management field.The correct decision-making stems from scientific evaluation and is conducive to improve management level and work efficiency.The media industry has strong communication capability,credibility and influence,and its performance evaluation involves economic,political and cultural factors.Facing the fierce market competition under the new economic normal,establishing a performance evaluation system that conforms to the characteristics and development of the media industry is of great significance for promoting enterprise innovation management,transformation and upgrading,and improving economic efficiency.As an effective performance evaluation tool,the Balanced Scorecard has been widely used in many large foreign companies.It breaks through the traditional financial-based performance evaluation model,taking into account both financial and non-financial,short-term and long-term,internal and external.By using Balance Scoreboard,transforming the organization's strategy into action cam be achieved.Therefore,this paper combines the characteristics of China's media listed companies,the status of performance evaluation and existing problems,trying to build a more effective and comprehensive performance evaluation system based on balanced scorecard.This paper first defines the relevant concepts of performance evaluation,historical evolution,and balanced scorecard.Secondly,the data of 30 media listed companies in Shanghai and Shenzhen stock markets were selected as research samples.A comprehensive performance evaluation system for selected media listed companies based on balanced scorecards was constructed.The factor analysis method was used to calculate the score and ranking of the listed media company's overall performance.Finally,further verify the balanced scorecard indicator system.First,calculate the comprehensive performance score by using the index system optimized in 2017.Second,average the data from 2013 to 2017 to calculate the comprehensive performance score.By contrusting the single year and the five-year average score with the ranking of ROE and economic value added under the DuPont analysis system,the effectiveness and applicability of the balanced scorecard performance evaluation system can be verified.