中小房地产企业私募融资风险研究

发布时间：2018-01-19 09:51

本文关键词： 中小房地产企业私募融资风险　出处：《浙江大学》2014年硕士论文　论文类型：学位论文

【摘要】：我国房地产企业中,中小型房地产企业数量约占了90%,它们在满足不同消费需求、创造社会财富、增加就业等方面做出了一定的贡献。但是,房地产行业具有高风险的特点,加上中小型房地产企业自身规模小、风险承担能力弱等先天不足,导致我国中小房地产企业通过传统融资渠道进行融资的难度增加。我国金融市场体系尚未完善,为营造健康发展的房地产市场氛围,我国对开发商的融资渠道采取一系列的限制措施,进一步增加了企业的融资难度,提高了融资成本,使中小房地产企业在融资环节逐渐陷入困境。为了能在严峻的金融环境下获得生存和发展,中小房地产企业迫于寻求新兴的融资方式。在众多的融资方式中,私募融资逐渐成为房地产企业融资选择的一个新渠道。为了中小房地产企业更好的选择融资渠道和进行风险控制,本文以当前房地产业融资模式的选择和私募融资发展现状为背景,对我国中小房地产企业进行私募融资风险进行定性和定量分析。第一,分析我国中小房地产企业的特点以及对传统融资方式进行比较。分析比较得出,我国中小型房地产企业选择传统融资存在的弊端和不足。第二,传统融资方式的不足,促使房地产企业开始选择私募融资作为新的融资渠道。因此,结合私募融资模发展现状和中小房地产企业的发展现状,使用SWOT分析模型对中小房地产企业私募融资进行态势分析,梳理我国中小房地产企业私募融资优劣势及环境机会与威胁等情况。第三,企业活动风险由系统内部风险和系统外部风险构成,而这些风险由风险因素组成。因此,本文在借鉴以往学者的研究基础上,对各风险因素归类和分析之后,使用风险评价模型、利用相关调查统计数据及分析软件对中小房地产企业选择私募融资涉及的风险指标进行评价。最后针对现状分析部分和案例分析结果提出相应的建议。
[Abstract]:Among the real estate enterprises in China, the number of small and medium-sized real estate enterprises accounts for about 90%. They have made some contributions in meeting different consumption needs, creating social wealth, increasing employment and so on. The real estate industry has the characteristics of high risk, coupled with the small scale of small and medium-sized real estate enterprises, weak risk-bearing capacity and other natural deficiencies. Small and medium-sized real estate enterprises in our country through traditional financing channels to increase the difficulty of financing. China's financial market system is not yet perfect, in order to create a healthy development of the real estate market atmosphere, China has taken a series of restrictions on the financing channels of developers, further increased the financing difficulties of enterprises. Raise the financing cost, make the small and medium-sized real estate enterprises gradually fall into a dilemma in the financing link, in order to be able to survive and develop in the severe financial environment. Small and medium-sized real estate enterprises are forced to seek new financing methods. Among many financing methods, private equity financing has gradually become a new channel for real estate enterprises to choose financing. In order to better choose financing channels and risk control for small and medium-sized real estate enterprises, this paper based on the choice of the current real estate financing mode and the development of private equity financing as the background. Qualitative and quantitative analysis of private equity financing risk of small and medium real estate enterprises in China. First, it analyzes the characteristics of the small and medium-sized real estate enterprises in China and compares the traditional financing methods, and draws the conclusion that there are disadvantages and shortcomings in choosing the traditional financing for the small and medium-sized real estate enterprises in our country. Second, the lack of traditional financing means, the real estate enterprises began to choose private equity financing as a new financing channel. Therefore, combining the current situation of private equity financing model development and the development of small and medium-sized real estate enterprises. This paper analyzes the situation of private financing of small and medium-sized real estate enterprises by using SWOT analysis model to sort out the advantages and disadvantages of private financing of small and medium-sized real estate enterprises in China and the situation of environmental opportunities and threats. Thirdly, the enterprise activity risk consists of the system internal risk and the system external risk, and these risks are composed of the risk factors. After classifying and analyzing the risk factors, using the risk evaluation model, using the relevant statistical data and analysis software to evaluate the risk indicators involved in the selection of private equity financing for small and medium-sized real estate enterprises. At last, some suggestions are put forward for the analysis of current situation and the result of case analysis.
【学位授予单位】：浙江大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

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