利益相关者视角的我国房地产企业财务绩效影响因素研究

发布时间：2018-08-30 17:24

【摘要】：受中央政府、各级地方政府、新闻媒体、顾客(炒房团)等各方集团的利益博弈影响,我国房地产市场走势进一步复杂。如何在这矛盾与冲突交织的博弈过程中,抓住机遇并迎接挑战,实现自身的长足发展,是目前房地产商亟待解决的问题。现有研究多从政府宏观调控角度去推测政策走向,进而研究政策落实对房地产企业经营业绩的影响程度,而忽视其他相关利益主体的作用。因此,本文基于利益相关者理论,从更广的范围去分析影响我国房地产企业经营绩效的因素及其作用机理。首先,采用文献评述的方法,基于国内外研究成果及相关理论,界定利益相关者的概念和范围。在此基础上,梳理国内外房地产企业财务绩效及绩效管理相关研究,确定影响房地产企业的利益相关者主体为股东关系、债权人关系、供应商关系、员工关系、顾客关系和政府关系。其次,采用动态分析与静态分析相结合的方法,从盈利能力、营运能力、偿债能力和抗风险能力四个方面,对我国房地产企业的现状进行分析,提出利益相关者因素在其中的作用机理。然后,采用实证研究的方法,基于我国房地产上市公司2004-2012年财务数据,运用Eviews6.0软件建立面板数据回归模型,验证利益相关者因素对房地产企业财务绩效的影响程度,得出研究结论。本文通过研究得出以下结论:利益相关者各因素对房地产企业财务绩效的影响区别明显,政府关系是房地产企业抵抗风险的关键因素,顾客关系是房地产企业稳定市场的重要因素,供应商关系是房地产企业持续营运的动力保障。
[Abstract]:Influenced by the interest game among the central government, local governments at all levels, news media, customers and other groups, the trend of China's real estate market is further complicated. Some researches speculate the policy trend from the angle of government macro-control, and then study the influence degree of policy implementation on real estate business performance, while ignoring the role of other stakeholders. Firstly, this paper defines the concept and scope of stakeholders by using the method of literature review, based on domestic and foreign research results and related theories. Secondly, by combining the dynamic analysis with the static analysis, this paper analyzes the current situation of China's real estate enterprises from four aspects: profitability, operating ability, solvency and anti-risk ability, and puts forward the mechanism of stakeholder factors. Based on the financial data of China's real estate listed companies from 2004 to 2012, this paper uses Eviews 6.0 software to establish a panel data regression model to verify the impact of stakeholder factors on the financial performance of real estate enterprises, and draws a conclusion. The government relationship is the key factor for real estate enterprises to resist risks. The customer relationship is an important factor for real estate enterprises to stabilize the market. The supplier relationship is the dynamic guarantee for the continuous operation of real estate enterprises.
【学位授予单位】：西安电子科技大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

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