Study On The Impact Of EVA Assessment Of State-Owned Enterprises On Enterprises Zombification Under The Market Competition Environment

With the focus of the tasks of “de-capacity,de-stocking,deleveraging,cost reduction,and short-boarding”,zombie companies are receiving more and more attention from scholars.Zombie enterprises are in a state of long-term loss,have lost their ability to develop,but have been able to nourish the government and banks,swallow up the vast resources of the economic market,cause shortage of resources in the capital market,disrupt the normal competition order of the market,and hinder the effective use of social resources.Configuration.Cleaning up "zombie enterprises" is of great significance for maintaining market competition order and promoting supply-side structural reform.Based on China’s unique institutional background and management context,based on theoretical analysis and literature review,this paper uses data collection and data mining as a “portrait” for “zombie companies” listed companies,and then builds “enterprise zombie index”,taking the state-controlled listed company as a sample,using the archives data of the capital market,conducting an empirical analysis based on the implementation of the Economic Value Added assessment by the State-owned Assets Supervision and Administration Commission of the State Council,exploring the internal mechanism of market competition,Economic Value Added assessment and state-owned enterprise zombie governance,And finally put forward relevant policy recommendations.This study will provide policy recommendations for China’s governance enterprises to “zombie”,implement “enterprise leverage” and improve the delisting mechanism of listed companies;to improve the value management of state-owned enterprises,deepen the reform of state-owned enterprises,and improve China’s total factor productivity and quality Development provides a reference for decision making.There are six parts in the research content of this paper.The first part is the introduction,expounding the research background,the theoretical and practical significance of the research,the research methods and the problems and innovations to be studied in this paper.The second part is a literature review of this article.Firstly,the reasons and identification criteria of zombie enterprises are elaborated and explained.Secondly,the value relevance,feasibility and management application of Economic Value Added assessment are studied.Next,the relevant research on market competition is sorted out.The third part builds a theoretical research model based on the literature review and proposes two research hypotheses.The fouth part is the research design.By collecting the A-share listed state-owned enterprises during the period of 2003 to 2016 as the research sample,and selecting the measurement method of the research variables,the regression model is established.The fifth part is the empirical test and the result analysis.It verifies the research hypothesis through correlation analysis and regression analysis,and judges whether the research hypothesis is established.The sixth part is the conclusions,limitations and prospects of the research.According to the previous theoretical and empirical analysis,the conclusions are drawn,and then the research limitations and prospects are explained.