Research On Performance Evaluation Of Pharmaceutical Manufacturing Listed Companies Based On Stakeholders

As an important part of the national economy,the pharmaceutical manufacturing industry is an important industry related to the lives and health of 1.4 billion people.However,there have been frequent vicious events in the pharmaceutical industry recently,such as the Changsheng biological fake vaccine event in 2018 and the raw material monopoly of chlorpheniramine in 2019,and some listed pharmaceutical companies involved in the event were st or delisted shortly after the outbreak of the event.Therefore,the performance of the enterprises has increased from steady growth to rapid decline,which has a great impact on the stable development of pharmaceutical companies.Enterprise performance evaluation is an important link in modern enterprise management,and it is also a way to evaluate the business situation reasonably,improve the management ability and control of enterprises.At first,some enterprises tend to evaluate their performance from the perspective of shareholders’ interests.However,in the complex social environment,with the emergence of problems such as substandard drugs,environmental pollution of enterprises,high price and poor quality of products,debt arrears,tax evasion,waste of natural resources and so on,which greatly hindered the long-term development of enterprises,so the stakeholders of enterprises gradually get more attention.And the performance evaluation of pharmaceutical manufacturing listed companies based on stakeholders can effectively integrate the performance requirements of enterprise stakeholders,thus more conducive to the long-term development of enterprises.Based on stakeholder theory,this paper studies the performance evaluation of pharmaceutical manufacturing listed companies.Firstly,this paper introduces the enterprise performance evaluation theory and stakeholder theory,analyzes the specific needs of different stakeholders,such as investors,creditors,suppliers,customers,employees and governments.Secondly,on the basis of analyzing the basic situation of pharmaceutical manufacturing industry and the present situation of performance evaluation of pharmaceutical manufacturing listed companies,the performance evaluation system of pharmaceutical manufacturing listed companies based on stakeholders is constructed according to the specific needs of different stakeholders.Thirdly,taking 51 listed pharmaceutical manufacturing companies from 2017 to2019 as a sample,the performance evaluation system and Cov-AHP method are used to evaluate the overall performance of the sample companies,and the GZBL companies are taken as an example to carry out a specific case analysis.Finally,according to the performance evaluation results of pharmaceutical manufacturing listed companies based on stakeholders,the following suggestions are put forward: improve product quality,increase R&D investment and output;establish supplier partnerships to improve the timeliness of payment;optimize asset structure and enhance short-term pay ability;attach importance to drug production,sales and environmental compliance legitimacy.