房地产企业信托融资研究
发布时间：2018-08-02 09:30
【摘要】：房地产业是我国的支柱产业之一,其健康发展对国民经济的发展起着重要作用,而有效地解决该行业的融资问题是促进其健康发展的重要条件。据统计,我国房地产企业的开发资金70%左右直接或间接地来自银行贷款,房地产企业习惯从国内银行拿钱,而对其他的金融工具了解甚少。本论文研究的目的就是要帮助房地产企业认清当前的融资形势,了解房地产融资理论和房地产信托的基本理论,掌握房地产信托融资的运作方法和要点,运用房地产信托融资方式拓宽融资渠道,有效地解决当前企业面临的融资问题,缓解融资困境,提升企业资本运营的能力。论文的主要内容为: 第一部分:绪论部分,分析论文选题的背景,对比中外研究现状,阐述选题的目的及意义和研究方法及路线。 第二部分:研究房地产融资的基本理论,为房地产企业选择信托方式进行融资提供理论支撑。这部分首先阐述房地产融资的概念、特征及基本原则;然后分析房地产企业可以利用的主要融资方式及目前各方式在我国运作存在的障碍;最后提出房地产企业进行融资决策应该考虑的主要因素。 第三部分:研究房地产信托的基本理论,为设计房地产信托产品提供理论基础。首先介绍房地产信托的涵义、基本类型及特征,让房地产企业及投资者了解房地产信托;然后分析信托融资对房地产企业的意义;最后研究房地产信托与宏观经济政策的联动性,分析其前景。 第四部分:在深入分析我国现存房地产信托市场的基础上,研究房地产企业如何运用房地产信托进行融资操作,这是全文的核心。首先提出房地产企业与信托投资公司合作的要点,研究房地产企业如何达到运用房地产信托融资的条件,并且明确房地产企业在信托融资中的地位,这是房地产企业成功申请信托融资的前提条件;其次,提出房地产信托融资的一般操作流程和不同信托类型具体的操作流程;再次,研究房地产信托产品应该如何设计,包括信托产品规模、期限、流动性的设计、预期收益率的测算;然后,根据不同类型的房地产信托对房地产企业的利弊,研究房地产企业应该选择何种信托类型;最后,结合案例对信托融资的资金成本进行分析。 第五部分:运用风险分析技术研究房地产企业运用信托融资的主要风险以及防范风险的措施。
[Abstract]:The real estate industry is one of the pillar industries in our country, and its healthy development plays an important role in the development of national economy. It is an important condition to effectively solve the financing problem of this industry to promote its healthy development. According to statistics, about 70% of the development funds of Chinese real estate enterprises come directly or indirectly from bank loans. Real estate enterprises are used to taking money from domestic banks, but they know little about other financial instruments. The purpose of this paper is to help the real estate enterprises to understand the current financing situation, to understand the real estate financing theory and the basic theory of real estate trust, to grasp the operation methods and key points of the real estate trust financing. The use of real estate trust financing means to broaden financing channels, effectively solve the current financing problems faced by enterprises, ease the financing difficulties, and enhance the ability of capital operation of enterprises. The main contents of the thesis are as follows: the first part: the introduction part, analyzes the background of the selected topic, compares the present situation of domestic and foreign research, expounds the purpose, significance, research method and route of the topic. The second part: study the basic theory of real estate financing, and provide theoretical support for real estate enterprises to choose trust financing. This part first describes the concept, characteristics and basic principles of real estate financing, and then analyzes the main financing methods that can be used by real estate enterprises and the obstacles to their operation in China. Finally, the paper puts forward the main factors that should be considered in the financing decision of real estate enterprises. The third part: study the basic theory of real estate trust, and provide the theoretical basis for designing real estate trust products. This paper first introduces the meaning, basic types and characteristics of the real estate trust, so that the real estate enterprises and investors understand the real estate trust, and then analyzes the significance of trust financing to the real estate enterprises. Finally, the paper studies the linkage of real estate trust and macroeconomic policy, and analyzes its prospect. The fourth part: on the basis of deeply analyzing the existing real estate trust market in our country, it is the core of this paper to study how to use the real estate trust to finance the real estate enterprise. First of all, it puts forward the key points of the cooperation between real estate enterprises and trust and investment companies, studies how real estate enterprises achieve the conditions of using real estate trust financing, and clarifies the status of real estate enterprises in trust financing. This is the precondition for real estate enterprises to apply for trust financing successfully. Secondly, the general operation process and specific operation flow of different types of trust financing are proposed. Thirdly, how to design real estate trust products is studied. It includes the design of trust product scale, duration, liquidity, and the calculation of expected rate of return. Then, according to the advantages and disadvantages of different types of real estate trusts to real estate enterprises, the paper studies which types of trusts should be selected by real estate enterprises. Finally, Combined with a case study, the paper analyzes the capital cost of trust financing. The fifth part: using the risk analysis technology to study the main risks of the real estate enterprises using trust financing and the measures to prevent the risks.
【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2005
【分类号】：F293.3
本文编号：2158999
[Abstract]:The real estate industry is one of the pillar industries in our country, and its healthy development plays an important role in the development of national economy. It is an important condition to effectively solve the financing problem of this industry to promote its healthy development. According to statistics, about 70% of the development funds of Chinese real estate enterprises come directly or indirectly from bank loans. Real estate enterprises are used to taking money from domestic banks, but they know little about other financial instruments. The purpose of this paper is to help the real estate enterprises to understand the current financing situation, to understand the real estate financing theory and the basic theory of real estate trust, to grasp the operation methods and key points of the real estate trust financing. The use of real estate trust financing means to broaden financing channels, effectively solve the current financing problems faced by enterprises, ease the financing difficulties, and enhance the ability of capital operation of enterprises. The main contents of the thesis are as follows: the first part: the introduction part, analyzes the background of the selected topic, compares the present situation of domestic and foreign research, expounds the purpose, significance, research method and route of the topic. The second part: study the basic theory of real estate financing, and provide theoretical support for real estate enterprises to choose trust financing. This part first describes the concept, characteristics and basic principles of real estate financing, and then analyzes the main financing methods that can be used by real estate enterprises and the obstacles to their operation in China. Finally, the paper puts forward the main factors that should be considered in the financing decision of real estate enterprises. The third part: study the basic theory of real estate trust, and provide the theoretical basis for designing real estate trust products. This paper first introduces the meaning, basic types and characteristics of the real estate trust, so that the real estate enterprises and investors understand the real estate trust, and then analyzes the significance of trust financing to the real estate enterprises. Finally, the paper studies the linkage of real estate trust and macroeconomic policy, and analyzes its prospect. The fourth part: on the basis of deeply analyzing the existing real estate trust market in our country, it is the core of this paper to study how to use the real estate trust to finance the real estate enterprise. First of all, it puts forward the key points of the cooperation between real estate enterprises and trust and investment companies, studies how real estate enterprises achieve the conditions of using real estate trust financing, and clarifies the status of real estate enterprises in trust financing. This is the precondition for real estate enterprises to apply for trust financing successfully. Secondly, the general operation process and specific operation flow of different types of trust financing are proposed. Thirdly, how to design real estate trust products is studied. It includes the design of trust product scale, duration, liquidity, and the calculation of expected rate of return. Then, according to the advantages and disadvantages of different types of real estate trusts to real estate enterprises, the paper studies which types of trusts should be selected by real estate enterprises. Finally, Combined with a case study, the paper analyzes the capital cost of trust financing. The fifth part: using the risk analysis technology to study the main risks of the real estate enterprises using trust financing and the measures to prevent the risks.
【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2005
【分类号】：F293.3
【引证文献】
相关博士学位论文 前1条
1 李哲;中国房地产开发企业投资行为研究[D];东北财经大学;2009年
相关硕士学位论文 前1条
1 杜江;房地产上市公司资本结构与融资方式创新[D];四川大学;2006年
，本文编号：2158999
本文链接：https://www.wllwen.com/guanlilunwen/huobilw/2158999.html
