保利房地产股份有限公司融资策略改进研究

发布时间：2018-01-18 11:11

  本文关键词：保利房地产股份有限公司融资策略改进研究　出处：《吉林大学》2017年硕士论文　论文类型：学位论文

  更多相关文章： 房地产企业 融资 融资策略 改进

【摘要】：作为我国重要产业之一的房地产业,具有自身的独特特点,简单讲就是“资金需求多、投资规模大、投资周期长、投资收益高”等,一直以来,我国房地产企业融资呈现持续上升趋势,2013年我国整体房地产开发总额为8.6万亿元,5年连续增长率均为23%。在此之后的几年虽然增速有所减缓,但仍呈现上升趋势,2016年,我国房地产开发投资额为10.3万亿元,同比增长6.9%。持续增长的投资额意味着融资的增加,与房地产企业而言,如何在进行融资的同时保证企业处于低风险、低成本,是一个急需解决的难题,房地产企业的融资问题也日益成为影响企业发展壮大的关键问题。在我国房地产金融市场逐步完善、市场竞争激烈加剧以及国家政策调整的影响下,如何拓展融资渠道、优化融资结构、持续降低融资成本是每一个房地产企业都迫切需要正视和解决的难题。保利房地产股份有限公司作为国内较大的房地产企业之一,在融资方面一直保持着相对较好的融资状况和融资效果,并以相对较低的融资成本在同行业竞争中保持着一定的优势。然而,在行业竞争和资源整合的当下,保利房地产公司的融资也依然存在一些问题,保利地产融资方面的其他问题依然可能会成为制约其发展的阻力,对其进行研究具有一定的价值和意义。本文以保利地产股份有限公司的融资策略为研究对象,结合与房地产企业融资相关的融资理论和国内外相关的研究基础,对保利地产的融资问题展开研究。基于本文的选题依据,文章首先对本研究的研究背景与意义、研究方法与内容、研究开展的理论基础和国内外相关的文献综述进行了说明,在此之后对本研究的主体部分进行了有顺序的论述。全文主体部分主要包括三方面的内容。第一部分,对保利地产的企业基本情况、融资发展现状和融资中存在的问题进行了解和分析,通过融资情况分析发现保利地产融资存在的优势和劣势,并详细论述劣势即主要问题。通过分析可知保利地产融资问题主要有四个,即过于依赖现有融资渠道、资产负债率和财务风险较高、企业自我融资比例小和存在较大的潜在融资风险。第二部分,对保利地产融资主要问题进行成因分析,针对第一部分提到的四个问题,分别找出相对应的原因即融资创新意识欠缺、融资结构不合理、企业自我融资能力略显薄弱和融资风险管理的制度体系不健全。其中,融资创新意识欠缺下从两点进行论述,即融资创新程度较低和融资相对单一、多元化和多层次的融资渠道有待开发。第三部分,提出了对保利地产融资问题进行改进的措施,包括四方面内容即注重融资创新并构建多元化融资渠道(包括注重融资创新、扩大非信贷和直接融资比例和制定多元化融资策略三项内容)、优化融资结构以实现资金供求均衡、增强企业盈利能力以提升企业融资能力(包括增强企业盈利能力以提升企业自我融资能力和增强企业融资议价能力两项内容)以及完善内部控制章程并优化融资风险管理体系。本文试图为保利地产的融资策略改进提供行之有效的建议,对于增强其在同行业的核心竞争力提供巨大推动作用。另外,我国房地产行业存在一些共同的问题,作为国内排名靠前的房地产公司,保利房地产的融资改进研究对于同行业地产公司也具有一定的参考价值。
[Abstract]:As one of the most important industries in China's real estate industry, has its own unique characteristics, is simply "capital requirements, large scale of investment, long investment cycle, high return on investment, since the financing of real estate enterprises in China showed a rising trend, the overall real estate development in 2013 China's total of 8 trillion and 600 billion yuan 5 years of continuous growth, the rate of 23%. after a few years although the growth rate has slowed down, but still showed a rising trend, in 2016, China's real estate development investment 10 trillion and 300 billion yuan, an increase of 6.9%. growth in investment means of financing increases, and real estate enterprises, how to ensure that the enterprise is low risk, low cost and financing, is an urgent problem, the problem of financing the real estate business has become a key problem in the development of enterprise in our country. The real estate financial market gradually To improve the effect of the intense market competition intensifies, and the adjustment of national policies, how to expand financing channels, optimize financing structure, reduce the cost of financing is difficult to continue every real estate enterprises have an urgent need to face and solve. Poly Real Estate Limited by Share Ltd as one of the large real estate enterprises in China, has maintained a relatively good financing in terms of financing status and financing effect, and the relatively low cost of financing in the same industry competition maintains certain advantages. However, the competition in the industry and the integration of the resources of the moment, poly Real Estate Company financing still exist some problems and other issues still Poly Real estate financing may be restricting the development of resistance and has a certain value and significance of the research. In this paper, Poly Real estate financing strategy of Limited by Share Ltd as the research object, combined with the The real estate enterprise financing related financing theory and the domestic and foreign related research foundation, study the financing problem of Poly Real estate. The topic of this paper is based on, firstly, the research background and significance of this study, research methods and contents, research on the theoretical basis and the related literature review described here in the main part of this research was the order of the paper. The main part of this paper mainly includes three parts. The first part, the basic situation of real estate enterprises, understand and analyze the existing financing development situation and problems in financing, financing through case analysis shows that there are poly estate financing advantages and disadvantages. And describes the disadvantages that major problems. Through the analysis of the financing problem of the real estate has four, is too dependent on the existing financing channels, asset liability ratio and The higher financial risk, enterprise self financing ratio of small and there is a big potential financing risk. The second part analyzed the causes of the main problems of Poly Real estate financing, in the first part of the four mentioned problems, the causes were found out the corresponding financing is a lack of awareness of innovation, unreasonable financing structure, enterprise self financing system ability weak and the financing risk management is not perfect. Among them, the lack of awareness of innovation financing from two points are discussed, namely financing innovation degree is low and the financing is relatively single, diversified and multi-level financing channels to be developed. The third part puts forward the improvement measures of the financing problem of Poly Real estate, including four aspects: focus on financing innovation and construction of diversified financing channels (including the emphasis on financing innovation, non credit and the proportion of direct financing to expand and develop a diversified financing strategy in three Volume), optimize the financing structure to realize the equilibrium of supply and demand of funds, enhance the profitability of the business to enhance the financing capacity of enterprises (including enhance the profitability of the business enterprise to enhance self financing ability and enhance the bargaining power of enterprises financing two items) and improve the internal control regulations and optimize the financing risk management system. This paper attempts to provide effective suggestions for real estate the financing strategy for improvement, provide great impetus to enhance its core competitiveness in the industry. In addition, there are some common problems in China's real estate industry, as the domestic ranking Real Estate Company, Poly Real estate financing improvement research also has certain reference value to the real estate industry with the company.

【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F299.233.42
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本文编号：1440677