德州锦绣—安然苑房地产项目财务风险与控制研究

发布时间：2018-11-12 18:29

【摘要】：自我国住房制度改革以来,房地产产业发展迅速。当前,房地产产业已成为我国的重要支柱产业之一,对国民经济的发展和社会的稳定影响深远。然而,研究表明,我国的房地产产业存在投资规模过大、结构不合理和投机性交易愈演愈烈的不良趋势。因此,加强对房地产产业的研究,控制其投资规模,优化其产业结构,抑制其投机性交易,对国民经济的发展和居民居住条件的改善,都存在重要意义。同时,由于房地产开发项目普遍存在投资数额较大、资金占用较多和风险和收益皆较高的特点,房地产企业在运营过程中通常面临较高的财务风险。因此,无论从宏观角度,还是微观角度,加强对房地产开发项目财务风险的研究,都对房地产产业的健康稳定发展具有重要意义。基于此,本文以锦绣—安然苑项目为例,对房地产项目开发时面临的财务风险进行探讨,并根据财务风险理论,提出了房地产项目财务风险识别的方法,构建了项目财务风险识别和评估的指标体系,并通过对相关指标的测算和分析,初步提出了房地产项目筹建和开发过程中控制财务风险的方法,以期能够对房地产项目的财务风险状况有所了解,并试图提出一些有益的建议。本文共分为六部分。第一部分为引言。该部分从宏观经济政策、行业发展和市场竞争三个方面简要介绍了文章的研究背景和意义。第二部分为相关的理论和研究综述。该部分介绍了作为房地产项目财务风险管理理论基础的财务风险理论等内容,并对选题当前的研究状况进行了述评。第三部分为项目概况。文章从金融市场、市场竞争和环境保护等方面对其进行了论述。第四部分对项目的投资、筹资、销售收入、成本费用利润和现金流量状况进行了财务预测。第五部分为项目财务风险的识别、评估、分析与控制。该部分指出了项目计划中潜在的财务风险和其可能的后果。文章的最后部分为结论与展望。通过对项目筹资、投资、投资收益回收和现金流量状况的评估和分析,我们发现,锦绣—安然苑房地产项目在债务偿还、投资回收和现金流量方面存在一定的财务风险。研究结果表明,房地产企业要控制其开发项目的财务风险,应着重从以下几个方面着手：首先,应实现建立风险预警机制,以便及时发现可能的风险；其次,应掌握财务风险的识别方法,以找出其影响因素；第三,应构建完善的风险评估和分析指标体系,对财务风险进行科学评价：最后,应找出并实施有效的控制措施,控制项目的财务风险,比如,企业应加强对成本费用的控制,加快应收账款的回收；提高利润,开源节流,合理规避和降低其财务风险。
[Abstract]:Since our country housing system reform, the real estate industry develops rapidly. At present, the real estate industry has become one of the important pillar industries in China, which has far-reaching influence on the development of national economy and social stability. However, the research shows that the real estate industry of our country has the bad trend of excessive investment scale, unreasonable structure and intensified speculative trading. Therefore, it is of great significance to strengthen the research on real estate industry, to control its investment scale, to optimize its industrial structure, to restrain its speculative trading, and to improve the development of national economy and the living conditions of residents. At the same time, because of the characteristics of large investment amount, more capital occupation and higher risk and income in real estate development projects, real estate enterprises usually face higher financial risk in the course of operation. Therefore, it is of great significance for the healthy and stable development of the real estate industry to strengthen the research on the financial risk of the real estate development project from both the macro and micro angles. Based on this, this paper takes the Jinxiu-Enron Project as an example, discusses the financial risk in the development of real estate project, and according to the theory of financial risk, puts forward the method of identifying the financial risk of real estate project. The index system of project financial risk identification and evaluation is constructed, and the method of controlling financial risk in the process of real estate project preparation and development is put forward through the calculation and analysis of related indexes. In order to understand the financial risk of real estate projects, and try to put forward some useful suggestions. This paper is divided into six parts. The first part is the introduction. This part briefly introduces the research background and significance from three aspects of macroeconomic policy, industry development and market competition. The second part is a review of relevant theories and studies. This part introduces the financial risk theory, which is the theoretical basis of real estate project financial risk management, and reviews the current research situation of the topic. The third part is the project overview. This paper discusses the financial market, market competition and environmental protection. The fourth part forecasts the investment, financing, sales income, cost, profit and cash flow of the project. The fifth part is the identification, evaluation, analysis and control of project financial risk. This section points out the potential financial risks and possible consequences of the project plan. The last part of the article is the conclusion and prospect. Through the evaluation and analysis of project financing, investment income recovery and cash flow, we find that there are certain financial risks in debt repayment, investment recovery and cash flow in Fairview Enron real estate project. The results show that real estate enterprises should focus on the following aspects to control the financial risks of their development projects: firstly, the establishment of risk early warning mechanism should be realized in order to discover the possible risks in time; Secondly, the identification method of financial risk should be grasped in order to find out the influencing factors. Thirdly, we should construct a perfect index system of risk assessment and analysis, and evaluate the financial risk scientifically. Finally, we should find out and implement effective control measures to control the financial risk of the project. For example, the enterprise should strengthen the control of cost and expense. Accelerate the collection of accounts receivable; Raise profit, increase income and cut expenditure, avoid and reduce its financial risk reasonably.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.42

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