绿城轻资产战略转型的财务成效分析

发布时间：2018-04-30 21:07

  本文选题：房地产行业 + 轻资产　； 参考：《西南交通大学》2017年硕士论文

【摘要】：随着改革开放的推进和市场经济的蓬勃向上,经历了 30余年发展的房地产行业作为国民经济支柱的作用日益明显,其兴衰存亡、起伏波动会直接影响到经济的可持续发展和进步。然而,近几年国家宏观调控加紧了对房地产行业的管控,市场供求关系正在潜移默化地发生着变化,大量房企面对房价波动、市场环境震荡,一时之间反应不及,出现了大范围的业绩下滑、销路不佳、资金链断裂的危机。众多大型的房地产上市企业依靠多年的根基在风雨中飘摇,同行业的中小型房企则难以为继相继歇业倒闭。中国的房地产行业被推到了风口浪尖,依靠转型升级寻求出路成为行业的潜在需求。本文在充分研读相关学术文献、总结理论知识的基础上,以多次出现资金链危机的大型房地产上市企业绿城中国为分析对象,围绕绿城正在进行的轻资产战略转型,使用其财务数据分析轻资产转型实施的战略、取得的效果以及存在的不足。首先结合PEST理论对影响房地产行业的环境因素进行分析,讨论房企进行轻资产转型的必要性。然后分析概括轻资产化的房地产企业应该具有的财务特征,为后文的财务数据对比分析提供参照标准。随后对绿城轻资产转型中在经营、筹资、投资中围绕财务运作和资金链危机的解决开展的一系列业务和活动进行详细解读.在此基础上,从绿城的历年年报中提取财务数据,主要采用纵向对比、辅以横向对比的方法,运用恰当的指标,比较分析绿城在轻资产转型前后其财务表现的不同,以此验证其转型方式的正确性以及发现当中存在的问题。基于以上研究,本文总结绿城轻资产转型的成功和不足之处,并据此对正在实施或将要进行轻资产转型的房地产企业提供可借鉴的建议。最后,总结出本文的局限和展望。
[Abstract]:With the development of reform and opening up and the vigorous development of market economy, the real estate industry, which has been developing for more than 30 years, plays an increasingly important role as a pillar of the national economy. Ups and downs will directly affect the sustainable development and progress of the economy. However, in recent years, the state macro-control has tightened the control of the real estate industry, and the relationship between supply and demand in the market is changing gradually. A large number of housing enterprises are facing fluctuations in house prices, and the market environment is volatile. The emergence of a wide range of performance decline, poor sales, capital chain break crisis. Many large listed real estate enterprises rely on the foundation of many years in the wind and rain, the same industry small and medium-sized housing enterprises are difficult to continue to close down. China's real estate industry has been pushed to the forefront, relying on transformation and upgrading to find a way out of the industry's potential demand. Based on the study of relevant academic documents and the summary of theoretical knowledge, this paper takes Green City, a large listed real estate enterprise, which has appeared many times as capital chain crisis, as the analysis object, and revolves around the strategic transformation of light assets under way in Green City. Using its financial data to analyze the implementation of light assets transformation strategy, the results achieved and shortcomings. Based on the PEST theory, this paper analyzes the environmental factors affecting the real estate industry, and discusses the necessity of light assets transformation. Then it analyzes the financial characteristics of the light capitalized real estate enterprises, and provides the reference standard for the comparison and analysis of the financial data. Then, a series of operations and activities around financial operation and financial chain crisis are explained in detail in the transformation of green city light assets in operation, financing and investment. On this basis, the financial data are extracted from the annual reports of Green City in the past years. The financial performance of Green City before and after the transition of light assets is compared and analyzed by means of longitudinal comparison, supplemented by horizontal comparison and appropriate indicators. In order to verify the correctness of its transformation and find the existing problems. Based on the above research, this paper summarizes the success and shortcomings of the green city light assets transformation, and provides suggestions for the real estate enterprises that are implementing or will carry out the light assets transformation. Finally, the limitations and prospects of this paper are summarized.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F299.233.42

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