后金融危机时代中国房地产业危机管理研究

发布时间：2018-01-17 00:34

本文关键词：后金融危机时代中国房地产业危机管理研究　出处：《南京财经大学》2012年硕士论文　论文类型：学位论文

【摘要】：2007年美国次贷危机爆发以后，就迅速的席卷全球，演变成全球性的金融危机。随着金融危机逐渐影响到我国经济，作为我国经济发展的支柱性产业之一的房地产业也明显的受到了冲击。再加上，自2001年新一轮的房地产周期启动以来，我国房地产价格持续上涨，已经明显呈现出房地产泡沫。在内忧外患的局面下，房地产行业出现销售面积大幅下降、大量空置房以及资金回流困难等问题，，有的企业甚至出现资金链断裂并面临破产的威胁。经过2008年下半年至2009年上半年的过渡调整期后，我国房地产市场正逐步走出低谷期，并呈现恢复的趋势。在后金融危机时代，中国房地产企业如何进行危机管理、顺应潮流、摆脱危机，并迅速地走上健康可持续发展的道路，是一个十分重要而又迫切的课题。本文研究的目的就在于找出应对危机能力强的企业的共同的经营特征。本文以中国房地产企业为研究对象，选取了A股62家房地产上市企业作为研究样本。从财务的角度选取了3个维度6个指标作为房地产企业应对危机能力的评价指标，经过因子分析的方法，选取了3个主因子，得出了各企业应对危机能力的综合得分，并根据这一得分，对所有样本企业应对危机能力进行了排名。通过比较分析，梳理归纳出应对危机能力强的房地产企业共同的经营特征，从而提出假设提高多元化程度、经营规模和负债水平，都可以提升房地产企业的应对危机的能力。随后，用Pearson相关分析的方法检验了企业应对危机能力分别与这三个因素的相关性。研究结果表明，应对危机能力与企业多元化程度增长率、经营规模增长率之间不存在显著的相关关系，而应对危机能力与负债水平增长率之间存在显著的负相关关系。文章的最后针对研究的结论提出了相应的启示和建议，以期能为中国的房地产企业健康、可持续发展提供一些可以增强自身应对危机能力的参考。
[Abstract]:In 2007, after the outbreak of the subprime mortgage crisis in the United States, it quickly swept the world and evolved into a global financial crisis, with the financial crisis gradually affecting the economy of our country. As one of the pillar industries in China's economic development, the real estate industry is also obviously affected. In addition, since the start of a new round of real estate cycle in 2001, China's real estate prices have continued to rise. In the situation of internal and external problems, the real estate industry has experienced a sharp decline in sales area, a large number of vacant houses and difficulties in the return of funds, and so on. Some enterprises even appear capital chain break and face the threat of bankruptcy. After the transitional adjustment period from the second half of 2008 to the first half of 2009, the real estate market of our country is gradually coming out of the trough period, and showing the trend of recovery, in the post-financial crisis era. It is a very important and urgent task for Chinese real estate enterprises to carry out crisis management, comply with the trend, get rid of the crisis, and quickly embark on the road of healthy and sustainable development. The purpose of this study is to find out the common management characteristics of enterprises with strong ability to deal with crisis. This article takes the Chinese real estate enterprise as the research object. Choose A share 62 real estate listed enterprises as the research sample. From the financial point of view, choose 3 dimensions and 6 indicators as the evaluation index of real estate enterprises' ability to deal with the crisis, through the method of factor analysis. Three main factors are selected to get the comprehensive score of the ability of each enterprise to deal with the crisis, and according to this score, all the sample enterprises are ranked as the ability to deal with the crisis. Combing out the common management characteristics of real estate enterprises with strong ability to deal with the crisis, and then put forward assumptions to improve the degree of diversification, business scale and debt level. Then, the Pearson correlation analysis method is used to test the relationship between the crisis response ability and these three factors. The results show that. There is no significant correlation between the ability to deal with crisis and the growth rate of diversification degree of enterprises, and there is no significant correlation between the growth rate of business scale, but there is a significant negative correlation between the ability to deal with crisis and the growth rate of debt level. At the end of the paper, the author puts forward the corresponding enlightenment and suggestion in view of the conclusion of the study, in order to provide some references for the healthy and sustainable development of Chinese real estate enterprises to strengthen their ability to deal with the crisis.
【学位授予单位】：南京财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F293.3;F832.51;F224

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