Study On The Performance Evaluation Of Enlight Media Based On EVA Model

The “Twelfth Five-Year Plan” began to deploy the cultural industry as a national strategy.The cultural media industry has undergone changes from expansion to adjustment in past five years.The current performance evaluation system of cultural media enterprises is centered on net profit.In recent years,its drawbacks have become increasingly apparent.The real business situation of some enterprises in the industry runs counter to the net profit.Therefore,it is necessary to find a more reasonable performance evaluation system.EVA provides a new approach for performance evaluation.EVA is no longer profit-oriented,but pays more attention to corporate value,which helps enterprises to truly improve their own value and long-term development.This paper firstly analyzes the financial indicators of enterprises with the traditional performance evaluation methods currently adopted by the Enlight Media,and summarizes the defects of the current system.This paper combines the economic value added(EVA)issued by the State Assets Supervision and Administration Commission in 2015 and the characteristics of the cultural media industry selected EVA adjustment items that are of great significance to the development of the cultural media industry,then calculated the EVA index from 2014 to 2018 based on the annual report financial data disclosed by Enlight Media.Then the paper compares the EVA performance evaluation index with the traditional approach.The comparative analysis reveals that the EVA performance evaluation system is more suitable for the performance evaluation of cultural media industry enterprises.The consideration of equity capital and profit adjustment can overcome some flaws to truly reflect the value created by the enterprise.In the conclusion,this paper summarizes the advantages of the EVA performance evaluation system and puts forward suggestions on the value enhancement of the Enlight Media enterprise based on the EVA results.