【作者】 王敏；

【导师】 徐岩；

【作者基本信息】 北方工业大学 ， 会计学， 2010， 硕士

【摘要】 对企业来说,永恒不变的真理是追求绩效,而在企业绩效评价体系中引入适当的非财务指标又是近年来在会计理论与实践中讨论地比较多的话题,然而由于非财务指标的收集较为困难,因而我国较多的研究都是停留在用非财务指标来弥补财务指标的缺陷的表面层次上。本文首先综述了各学者关于非财务指标研究与企业会计业绩及未来市场业绩之间关系的研究成果,然后对支持非财务指标的委托代理理论以及非财务指标的优缺点进行了归纳总结,并结合基本理论简单分析了企业非财务指标的设置原则及在设置时应当考虑的因素。在第四部分的实证分析中,本文对企业是否在高管薪酬契约中采用非财务指标与企业当前及预期市场业绩之间的关系分别建立了两个多元线性回归统计模型进行实证研究,其一是对非财务指标的使用与企业当前会计业绩(以ROA,企业总资产收益率)之间的相关性研究,结果表明非财务指标的使用与企业总资产收益率之间呈显著的正相关关系,其二是对非财务指标的使用与企业预期市场业绩(托宾Q)的研究,结果发现非财务指标的使用与托宾Q相关关系的模型通过了10%的显著性检验,两者之间也呈明显的正相关关系。最后本文认为为了提升我国对非财务指标的研究水平,应当从规范非财务信息的披露开始,满足企业利益相关者的需求,同时要在企业内部根据权变理论设计合理的绩效评价体系,使财务指标与非财务指标完善结合,准确评价业绩。另外还应当适当提高高管人员薪酬,并建立健全薪酬长期激励机制,避免高管人员产生短期行为。更多还原

【Abstract】 For enterprises, the eternal truth is to pursue performance. It has been wildly discussed that introducing nonfinancial performance measures (NFM) into performance evaluation system both in the fields of theory and practice. However, because of the difficulty to collect information about NFM, most of the studies about NFM can just reach the level of how to overcome the inadequacies of financial performance measures.This thesis begins with introducing literatures of NFM, which can be divided into two aspects:the relationship between NFM and firms’current accounting performance and the relationship between NFM and firms’future performance. Next, this thesis summarizes the Agency theory and the advantages and disadvantages of NFM. Then concerning the basic principles discussed above, the important considerations in the design of NFM are discussed in the 3rd part. In part 4, this thesis empirically investigates the relationships between firms decisions of using NFM included in compensation contracts or not and firms’current/future performance. The results indicate that the adoption of NFM is positively associated contemporaneous accounting-based performance (ROA), at the level of 1%. And the results also indicate that it is positively associated with firms markt-based performance (Tobin-Q), at the level of 10%.Finally, this thesis advocates that in order to improve the research level about NFM, it could begin from specifying the principle of disclosure about NFM to meet stakeholders’ needs. In the mean time, a reasonable performance evaluation system containing both financial and nonfinancial performance measures should be established according to the Contingency Theory in order to evaluate firms’performance accurately. In addition, firms can also consider of improving the compensation of senior executives as well as establish long-term incentive mechanism to avoid short-term behavior.更多还原