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978-1-4244-7330-4/10/$26.00©2010IEEE329PerformanceEvaluationofLogisticsEnterprisesBasedonEconomicValueAddedandBalancedScorecardYanTong1,YanYao2XiaotongXiong31.SchoolofManagementandEconomics,BeijingInstituteofTechnology,Beijing100081,ChinaE-mail:[e-mail]ce,BeijingCityUniversity,Beijing100083,ChinaE-mail:[e-mail],State-ownedAssetsSupervisionandAdministrationCommissionoftheStateCouncil,Beijing100053,ChinaE-mail:[e-mail]:Motivatedbyincreaseduseinpracticeandincreasedinterestinthemediaandamongacademics,aperformanceevaluationsystemwasbuiltbasedonEconomicValueAdded(EVA)andBalancedScorecard(BSC)forlogisticsenterprises.Correlationtestandlinearregressionwereruntogiveempiricalsupportforthesystem.Leadingthelong-termvision,EVAisatthetopofthissystem.Othermeasuresdistributedinfourperspectives-Financial,Customer,InternalbusinessprocessandLearningandgrowth–areaimedtoahighEVA.EVAgetssignificantlypositiveKendall’scorrelationwithstrategicobjectivewhoseproxyiscorporatevalue.InlinearregressionwhosedependentwasEVA,operationcost,thefirstfivecustomers’revenueratio,auditedinternalcontrolreportandstaffeducationalratiowereusedtorepresentthefourperspectivesrespectively.Thefirstandthethirdmeasureshavesignificantcoefficientsconsistentwiththeoreticanalysis.KeyWords:PerformanceEvaluation,Logistics,EconomicValueAdded(EVA),BalancedScorecard(BSC)I.INTRODUCTIONWiththefastdevelopmentoflogisticsindustry,logisticsenterprisesgrowbiggerandricher.Oneissueisbecomingurgenttotheshareholders,i.e.howtoevaluatetheperformanceofthecompany.Althoughthere’shugewealthinthisindustry,howmuchincrementalvaluedoesacompanycreateandhowmuchdoesitsshareholderget?Traditionally,peopleuseonlyfinancialdatatosupporttheirjudgementswhilelackingofattentionstoothermeasures,especiallyneglectingequitycostofthecapitalinvestedbyshareholders.Inthispaper,webuildupanevaluationsystemforlogisticsenterprisesbasedonBalancedScorecard(BSC),andputEconomicValueAdded(EVA)inthissystemasamaintargettomeasuretherealwealthcreatedbythoseenterprisesfortheirshareholders.Then,wegiveempiricalevidencefortheeffectivenessofthissystem.Thispaperisorganizedasfollows.SectionIIreviewstherelevantliterature.SectionIIIbuildsuptheevaluationsystembasedonEVAandBSC.SectionIVandVmakehypothesesandgiveempiricalevidence.SectionVIsummarizesandconcludes.II.LITERATUREREVIEWA.LogisticsPerformanceEvaluationLogisticsperformanceevaluationisanimportantissueinlogisticsmanagement.Withtheresultsofproperevaluation,ThispaperissupportedbytheNationalNaturalScienceFoundationofChinaunderGrant70902012,theNationalPlanningOfficeofPhilosophyandSocialScience(GrantNo.09BJY018),andalsosupportedbyBasicResearchFundsofBeijingInstituteofTechnology:TheMediationEffectsofControllingShareholdersonEarningsQuality.peopleknowwhattheygetfromyesterdayandwhattodotomorrow.Muchoftheforeignpaperstodatehavefocusedupon:1)introducingcharacteristicsthatmeasuresshouldpossess;2)perspectivesthatmeasuresshouldassume;or3)specificmeasuresthatfirmsshouldchoose[1].Hardinggivesaperformance-importancematrixwhosehorizontalaxisreflectstheperformancequalityoftheserviceprovidedbytheinternationallogisticsorganizationandverticalaxisrepresentstheimportanceofspecificservicestoitscustomers[2].Rafeleassignslogisticsperformanceindicatorsintothreebroadareas:tangiblecomponents,waysoffulfillmentandinformativeactions[3].Recentyears,peoplepayincreasingattentiontofirms’uniqueenvironmentsorstrategies.Somepaperstrytoshowhowfirms,confrontedwithchange,candynamicallyaddresstheissueofperformancemeasureselectionratherthanrelyonastaticgroupofmeasures[4].InChina,researchhasmainlycovered:1)measuresshouldbechose;2)methodsshouldbeused;3)evaluationsystem.Anevaluationsystemusuallycontainsseveralparts.WangandYangcareaboutcost,efficiency,risk,customermanagement[5],Weistressesthelogisticsabilityofcompetitionanddevelopment[6].Mostcommonlyusedmeasuresinthesesystemsarerevenues,costs,supplydelaytime,orderdeliveryaccuracyandsoon[7][8].Tosupporttheoreticanalysis,variousmethodshavebeenappliedtologisticsenterprises,suchasprincipalcomponentsanalysis[9],fuzzyclassificationmethod[6],DEA[10]etc.Therehavebeensomehighqualityachievements,yetfewfocusoncompanies’strategies.B.BSCBSCwasoriginatedbyRobertKaplanandDavidNorton[11].ItsaperformancemeasurementframeworkthataddedstrategicAuthorizedlicenseduselimitedto:DALIANMARITIMEUNIVERSITY.DownloadedonJune04,2010at16:11:12UTCfromIEEEXplore.Restrictionsapply.330non-financialperformancemeasurestotraditionalfinancialmetricstogivemanagersandexecutivesamore“balanced”viewoforganizationalperformance.Afteryearsofdevelopment,itisafullstrategicplanningandmanagementsystemnow,whichincludefourperspectivessuchasFinancial,Customer,InternalbusinessprocessandLearningandgrowth(seeTable1).TABLEIBSCSYSTEMPerspectivesExamplesofMeasuresFinancialRevenues,ProfitsCustomerPrices,Quality,CustomerRelationshipInternalbusinessprocessOperation,InnovationLearningandgrowthhumancapital,informationcapitalAfterKaplanandNorton’swo