Research On Financial Performance Evaluation Of State-owned Capital Investment Companies

Since 2014,state-owned capital investment companies have continued their pilot work.The state-owned capital investment company aims to optimize the layout of the state-owned economy,promote economic restructuring,improve the allocation and operation efficiency of state-owned capital,and serve the national strategy.And how to judge whether the established state-owned capital investment company has completed the goal of making state-owned capital bigger,better,and stronger,and how to evaluate the operational and financial performance of state-owned capital investment companies has become an urgent problem.Through research and analysis,this paper finds that the traditional financial performance evaluation indicators of enterprises are not applicable to the financial performance evaluation of state-owned capital investment companies.The current performance evaluation methods of state-owned enterprises have certain reference value for state-owned capital investment companies,but they should not be fully applied.Therefore,this article is Based on the target positioning,strategic layout and operating characteristics of state-owned capital investment companies.this paper constructs an index system for the financial performance evaluation of state-owned capital investment companies from five dimensions: capital return,capital security,capital operation,value growth,and layout innovation.The data of 20 indicators of13 state-owned state-owned capital investment companies were selected as samples,and based on the established system,the objective weighting method of the entropy method was used to establish a mathematical model involved the 20 indicators,And finally get the score of each company in each dimension and the comprehensive score of each company based on 20 indicators in 5 dimensions.The two companies with the lowest overall score and the relatively well-performing company in the same industry,namely the National Energy Investment Group and the National Electricity Investment Group,are used as the research subjects to conduct a comparative analysis of the financial index data of the two companies and the industry average of the indicators.To find out the common problems in the National Electricity Investment Group and the electricity industry.including poor asset liquidity,high costs,strong dependence on the macro environment,and high debt ratios,etc.This paper puts forward some suggestions and solutions,such as structural adjustment and strategic reorganization,improvement of management mode,optimization of industrial layout,and improvement of asset security,etc.In order to provide reference for other state-owned capital investment companies to evaluate their operation,find their own shortcomings,optimize their development path and improve their financial performance...