跨国公司子公司业绩评价问题研究
本站原创 论文中文摘要：跨国公司业绩评价系统属于跨国公司管理会计活动白勺一个部分,本文从跨国公司转移定价、汇率变动和各国会计准则白勺差异三个方面阐述了跨国公司对子公司进行业绩评价白勺影响因素。指出转移定价会使跨国公司子公司白勺净利润和销售利润率受到扭曲;由于汇率变动白勺原因,应用不同白勺汇率进行折算会使子公司白勺销售收入显著不同;如果各子公司都按所在国白勺会计准则编制报表,显然也会影响母公司对子公司白勺业绩评价。以上所有因素无疑都会给跨国公司子公司业绩评价带来麻烦。所以要设计合理白勺业绩评价程序,包括对转让定价进行调整、选择合适白勺汇率编制预算和评价实绩,以及选择最适合白勺财务指标和非财务指标进行业绩评价等。通过以上措施,达到对跨国公司子公司白勺业绩进行公允、全面、正确评价白勺目白勺
Abstract（英文摘要）：www.328tibEt.cn This article aims to discuss the performance evaluation of the multinational corporation subsidiaries. For a long time, there are few domestic multinational corporations, so the research on this issue is relatively less. However, with the rapid development of China’s economy and the increase of domestic multinational corporations, the study on this issue is becoming important increasingly. To a certain extent, it can help multinational companies evaluate the operating performance of foreign subsidiaries, on this basis, optimize the allocation of global resources, and achieve better development,this is also the reason that I choose this topic. Before writing this article, I read a lot of periodicals and books on this issue, summarized a lot of study results and combined my own views on this issue. The structure of this article is as follows:First part: summarize the theory of performance evaluation of the multinational corporation subsidiaries. First, introduce the definitions of multinational corporations, parent and subsidiary companies of multinational corporations and the performance evaluation of the multinational corporation subsidiaries; then, expatiate the elements of performance evaluation: the subject of evaluation, the object of evaluation, evaluation goals and so on; finally, introduce the theories that are closely related with the following performance evaluation methods and procedures: the exchange rate choice theory of foreign currency statements and financial analysis theory.Second part: expatiate the influencing factors of performance evaluation of the multinational corporation subsidiaries. These factors include internal traner pricing, the choice of exchange rate and different national accounting standards.First, based on the relevant data, find the significant difference between the subsidiary’s net profit after traner pricing and the one calculated according to market prices, net profit is a very important financial indicator when multinational corporations evaluate the performance of subsidiaries, so the distortion of this indicator will inevitably affect the fair performance evaluation.Second, through Variance Analysis System, clearly illustrate that the subsidiaries not only undertake the influence that sales price and sales volume impact on the sales performance, but also will endure the indirect effects brought by changes of exchange rate. Fluctuation of exchange rate is a uncontrollable factor, therefore, it will also affect the correct judgment on the performance of subsidiaries.The third, subsidiaries of a multinational corporation are located in different countries, and different countries he different accounting standards, if don’t adjust subsidiaries’financial statements according to the accounting principles of parent company, misunderstandings on the performance of subsidiaries are likely to be caused.The third part: based on the analysis about influencing factors of performance evaluation, this article gives the procedures and related recommendations about subsidiaries’performance evaluation, the following conclusions are formed:First, before the evaluation, multinational corporations should adjust traner prices according to the five methods using by tax authorities advocated by OECD’s , they are: comparable non-controlled price method, sales-again price method, cost-plus pricing method, trading net profit method, and profit split method. Of these methods, comparable non-controlled price method is closest to the market price, therefore, if the relevant data is ailable; this method is the first choice.Second, if multinational corporations use "compared with the budget" as the main form of performance evaluation, and accept home country-monetary viewpoint in performance evaluation, then they need to convert subsidiaries’operating budget and actual results of the implementation of budget to the home country currency according to a certain exchange rate. When multinational corporations budget and retrospect performance, there are three options about exchange rate: opening exchange rate, expecting exchange rate, end exchange rate. They can compose five effective portfolios. This article tabulates and analyzes the operating profit and budget variances of these five portfolios, and expatiate their respective characteristics. On the basis of empirical study of foreign experts, I advocate the following portfolio: expecting exchange rate when budget, end exchange rate when retrospect.The third, performance evaluation of the multinational corporation subsidiaries is inseparable from the selection of financial indicators. Analysis of the profit is the eternal topic of performance evaluation, and profit is reflected through various financial indicators. This article lists a number of empirical study of foreign scholars on the issue, the survey showed that profit, net profit margin, ROI, the comparisons of actual value of various indicators with the budget (the comparison of actual profit with the budget, the comparison of actual sales with the budget, the comparison of actual ROI with the budget) are the important financial indicators that are frequently used by multinational corporations. At the same time, we should integrate Economic Value Added and cash flow to evaluate the performance of subsidiaries comprehensively, but with the development of performance evaluation system, traditional financial indicators can no longer meet the needs, so non-financial indicators appeared. Important non-financial indicators are market share, product quality control, R & D and innovation, evaluation of customers. In these non-financial indicators, particularly refer to R & D and innovation, in such a fierce market competition, this indicator is very important, it can assess an enterprise’s development potential.With China’s rapid developing economic, the power of China’s multinational corporations increases gradually, in order to develop foreign subsidiaries better, evaluation of the performance of subsidiaries must be put on the agenda. As we all know, finance is lifeline of a company, even a subsidiary he made performance, if the performance can not be reflected fairly, multinational corporations would not be able to identify subsidiaries’true extent of efforts, also unable to identify the loopholes of Group development. Therefore, scientific evaluation of the subsidiaries’performance has great significance. On the basis of research results of domestic and foreign experts, this article discusses the main issues involved in the evaluation of the multinational corporation subsidiaries from a macro and overall perspective. If some reference for multinational corporations can be provided, I will be very happy.
论文关键词： 跨国公司子公司；业绩评价；汇率选择；财务指标；非财务指标；
Abstract（英文摘要）：www.328tibEt.cn This article aims to discuss the performance evaluation of the multinational corporation subsidiaries. For a long time, there are few domestic multinational corporations, so the research on this issue is relatively less. However, with the rapid development of China’s economy and the increase of domestic multinational corporations, the study on this issue is becoming important increasingly. To a certain extent, it can help multinational companies evaluate the operating performance of foreign subsidiaries, on this basis, optimize the allocation of global resources, and achieve better development,this is also the reason that I choose this topic. Before writing this article, I read a lot of periodicals and books on this issue, summarized a lot of study results and combined my own views on this issue. The structure of this article is as follows:First part: summarize the theory of performance evaluation of the multinational corporation subsidiaries. First, introduce the definitions of multinational corporations, parent and subsidiary companies of multinational corporations and the performance evaluation of the multinational corporation subsidiaries; then, expatiate the elements of performance evaluation: the subject of evaluation, the object of evaluation, evaluation goals and so on; finally, introduce the theories that are closely related with the following performance evaluation methods and procedures: the exchange rate choice theory of foreign currency statements and financial analysis theory.Second part: expatiate the influencing factors of performance evaluation of the multinational corporation subsidiaries. These factors include internal traner pricing, the choice of exchange rate and different national accounting standards.First, based on the relevant data, find the significant difference between the subsidiary’s net profit after traner pricing and the one calculated according to market prices, net profit is a very important financial indicator when multinational corporations evaluate the performance of subsidiaries, so the distortion of this indicator will inevitably affect the fair performance evaluation.Second, through Variance Analysis System, clearly illustrate that the subsidiaries not only undertake the influence that sales price and sales volume impact on the sales performance, but also will endure the indirect effects brought by changes of exchange rate. Fluctuation of exchange rate is a uncontrollable factor, therefore, it will also affect the correct judgment on the performance of subsidiaries.The third, subsidiaries of a multinational corporation are located in different countries, and different countries he different accounting standards, if don’t adjust subsidiaries’financial statements according to the accounting principles of parent company, misunderstandings on the performance of subsidiaries are likely to be caused.The third part: based on the analysis about influencing factors of performance evaluation, this article gives the procedures and related recommendations about subsidiaries’performance evaluation, the following conclusions are formed:First, before the evaluation, multinational corporations should adjust traner prices according to the five methods using by tax authorities advocated by OECD’s , they are: comparable non-controlled price method, sales-again price method, cost-plus pricing method, trading net profit method, and profit split method. Of these methods, comparable non-controlled price method is closest to the market price, therefore, if the relevant data is ailable; this method is the first choice.Second, if multinational corporations use "compared with the budget" as the main form of performance evaluation, and accept home country-monetary viewpoint in performance evaluation, then they need to convert subsidiaries’operating budget and actual results of the implementation of budget to the home country currency according to a certain exchange rate. When multinational corporations budget and retrospect performance, there are three options about exchange rate: opening exchange rate, expecting exchange rate, end exchange rate. They can compose five effective portfolios. This article tabulates and analyzes the operating profit and budget variances of these five portfolios, and expatiate their respective characteristics. On the basis of empirical study of foreign experts, I advocate the following portfolio: expecting exchange rate when budget, end exchange rate when retrospect.The third, performance evaluation of the multinational corporation subsidiaries is inseparable from the selection of financial indicators. Analysis of the profit is the eternal topic of performance evaluation, and profit is reflected through various financial indicators. This article lists a number of empirical study of foreign scholars on the issue, the survey showed that profit, net profit margin, ROI, the comparisons of actual value of various indicators with the budget (the comparison of actual profit with the budget, the comparison of actual sales with the budget, the comparison of actual ROI with the budget) are the important financial indicators that are frequently used by multinational corporations. At the same time, we should integrate Economic Value Added and cash flow to evaluate the performance of subsidiaries comprehensively, but with the development of performance evaluation system, traditional financial indicators can no longer meet the needs, so non-financial indicators appeared. Important non-financial indicators are market share, product quality control, R & D and innovation, evaluation of customers. In these non-financial indicators, particularly refer to R & D and innovation, in such a fierce market competition, this indicator is very important, it can assess an enterprise’s development potential.With China’s rapid developing economic, the power of China’s multinational corporations increases gradually, in order to develop foreign subsidiaries better, evaluation of the performance of subsidiaries must be put on the agenda. As we all know, finance is lifeline of a company, even a subsidiary he made performance, if the performance can not be reflected fairly, multinational corporations would not be able to identify subsidiaries’true extent of efforts, also unable to identify the loopholes of Group development. Therefore, scientific evaluation of the subsidiaries’performance has great significance. On the basis of research results of domestic and foreign experts, this article discusses the main issues involved in the evaluation of the multinational corporation subsidiaries from a macro and overall perspective. If some reference for multinational corporations can be provided, I will be very happy.
论文关键词： 跨国公司子公司；业绩评价；汇率选择；财务指标；非财务指标；