基于功效系数法的SH房地产公司财务风险评价研究

发布时间：2018-06-05 11:28

  本文选题：房地产公司 + 财务风险　； 参考：《沈阳农业大学》2017年硕士论文

【摘要】：随着我国努力建成全面小康社会的进程不断加快,人民生活水平的不断提高,大众对住房的购买欲望也越来越强烈,房地产企业迅猛发展,使得房地产行业成为了我国的支柱性产业。但是在我国房地产行业起步还是比较晚的,很多房地产行业方面的规范和制度还不完善,同时房地产企业的资金投入大,回收周期长,使得房地产企业受经济趋势变化和国家政策宏观调控的影响很大,从而提高了房地产企业的财务风险。2008年金融危机爆发以来,世界经济在很长一段时间都处于一个比较低迷的状态,使得整个房地产行业受到了很大的冲击,尤其是中小型的房地产企业。很多实力较强大的房地产企业由于资金雄厚、经得住风险,逐渐成为整个行业的主力军,并开始对中小型房地产企业进行并购,使得很多中小型的房地产企业生存困难,负债越来越多,财务风险也越来越大。因此,本文通过对SH房地产公司财务风险的识别和评价,并根据所存在的一些财务风险问题提出一些控制措施,供其他中小型房地产企业借鉴和使用。本文以SH房地产公司为研究对象,首先从筹资风险、投资风险、营运资金风险、收益分配风险这四个方面选取一些财务指标对其财务风险进行评估,根据评估的结果了解一下SH房地产公司整体的经营状况和财务状况。然后从偿债能力、营运能力、盈利能力和发展能力这四个方面选取备选的财务指标,利用Pearson相关性分析的方法,选出各种能力中具有代表性的财务指标,这些财务指标主要有资产负债率、应收账款周转率、成本费用利润率、营业收入增长率等,运用层次分析法确定选取的财务指标的权重。最后利用改进后的功效系数评价方法计算各指标的指数、各个能力组的指数和整个公司的综合指数,根据财务风险的评价等级,对公司进行相应的财务风险等级评价。结合SH房地产公司的实际情况和评价结果,对公司存在风险的原因进行分析,并提出相应的财务风险防范措施,以帮助公司可以更好的经营和发展下去。
[Abstract]:With the accelerating process of building a well-off society in an all-round way in our country and the continuous improvement of people's living standards, the public's desire to purchase housing is becoming stronger and stronger, and the real estate enterprises are developing rapidly. The real estate industry has become a pillar industry in China. However, the real estate industry in our country started relatively late. Many norms and systems in the real estate industry are still not perfect. At the same time, the real estate enterprises have a large capital investment and a long recovery period. The real estate enterprises have been greatly affected by the changes in economic trends and the macro-control of state policies, thus raising the financial risks of real estate enterprises. Since the outbreak of the financial crisis in 2008, The world economy has been in a relatively depressed state for a long time, which makes the whole real estate industry suffer a great impact, especially the small and medium-sized real estate enterprises. Many powerful real estate enterprises have become the main force of the whole industry because of their strong funds and stand the risks, and they have begun to merge small and medium-sized real estate enterprises, which makes it difficult for many small and medium-sized real estate enterprises to survive. More and more debt, financial risk is also increasing. Therefore, this article through the SH real estate company financial risk identification and evaluation, and according to the existence of some financial risk problems put forward some control measures for other small and medium-sized real estate enterprises for reference and use. In this paper, SH real estate company as the research object, first of all from the financing risk, investment risk, working capital risk, income allocation risk, select some financial indicators to evaluate its financial risk. According to the results of the evaluation to understand SH real estate company's overall operating and financial situation. Then select alternative financial indicators from four aspects of solvency, operating ability, profitability and development ability, and select representative financial indicators of various capabilities by using the method of Pearson correlation analysis. These financial indexes mainly include asset-liability ratio, turnover ratio of accounts receivable, profit rate of cost and expense, growth rate of operating income and so on. The weight of the selected financial index is determined by analytic hierarchy process (AHP). Finally, the index of each index, the index of each ability group and the comprehensive index of the whole company are calculated by the improved efficiency coefficient evaluation method, and the corresponding financial risk grade is evaluated according to the evaluation grade of financial risk. Combined with the actual situation and evaluation results of SH real estate company, this paper analyzes the causes of the company's risk, and puts forward the corresponding financial risk prevention measures to help the company to operate and develop better.
【学位授予单位】：沈阳农业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F299.233.42
，

本文编号：1981828