Abstract
Concerning to our country’s consumption, the coal industry
is in the main position of the whole energy industries. As a
most consuming and producing country in the world, the
development of the coal industry involves in the level of the
people living standard. Especially, during the 10 years since
2002, there have been the most prosperous years for the whole
coal industry. In the meantime, the level of the coal industry
developing also play a significant role in other industries,
such as iron、chemical industry、building material and electric
power. But the good situation doesn’t sustain very long. From
the beginning of 2002, the coal industry steeped to“a cold
winter”, and then it didn’t recovered. There are some reasons
for that problem. The first one is , from the angle of the
macroscopic, that owing to the danger of the producing and the
accidents always happening, therefore our country kept very
close eyes on the safety of the mining people. Thus the cost of
producing went high. Besides, The State Council issued a plan
called
Action Plan for the Prevention and Control of Air
Pollution
in the Sep of 2013, which required the index of the
concentration of the fine particulate matter in the atmosphere
to go down in the next 5 years. The continuing plans of the
environment protection give a huge impact to the coal industry.
Because of that, which stimulated the big progress in the
science and technology of the clean energy, people began to use
the clean energy, at the same time, the coal replaced and the
interest going down. In our country, evaluating the listed
coaling companies always sought the net profit. However, under
the situation of the GAAP, there are a lot of faults in this
evaluation system, such as ignoring the cost of rights and
interests, seeking net profit blindly which led the date untrue
and the profit conflicting between the owners and the
controllers. What I am talking above does harm to the lasting
development of all companies. Nowadays, more and more listed
companies turned their heads on the maximization of the
shareholder value instead of net profit gradually. Now that
pursuing the maximization of the shareholder value become the
main aim of the evaluation system, the question how to measure
the increment of the value should take into account. It is
critical for the shareholders and creditors that evaluating its
ability of value creating. The exact value evaluation can
measure the power of the company objectively and efficiently,
which can decrease the blind investments of the investors and
reduce the risk of the investments. For controllers, that can
