Y房地产公司融资策略研究

发布时间：2018-01-20 03:18

本文关键词： 房地产企业融资现状融资方式策略　出处：《广西大学》2014年硕士论文　论文类型：学位论文

【摘要】：房地产业是资金密集型产业,对房地产开发企业而言,必须有强大的融资能力才能在激烈的竞争中生存。近十年来,由于政府的宏观调控,房地产业的融资环境日益趋紧。在这样的情况下,市场出现了分化。大型企业依靠与银行的长期合作关系度过难关,而中小企业则纷纷陷入困境。在优胜劣汰的同时,行业的竞争性被削弱,长期来看,不利于房地产业的健康发展。本文以上述客观事实为背景,运用文献回顾和案例分析的方法,以金融市场风险和收益相均衡的基本原理为理论基础,研究如何优化中小房地产业的融资策略,提出能同时符合投资方和融资方的风险偏好和收益期望的融资方案,以提高融资的成功可能性。本文首先对关于企业融资的经典理论和相关实证研究进行了回顾,接着对我国房地产市场和房地产金融的发展情况进行了分析,并对房地产企业的传统融资渠道进行了介绍,在此基础上,指出中小房地产企业所面临的融资难题及成因；然后,本文以Y公司这个中小房地产企业作为典型案例,对其经营模式和资金需求的特点进行分析,指出其融资困境的成因,探讨其可能采取的融资策略和融资途径,并提出具体的融资方案设计,为解决融资问题提供新的思路。本文所论的中小房地产企业融资问题,虽然前人已做过不少的研究。但是进入21世纪以来,金融领域和产业领域都有了进一步的发展,出现很多以前不同的模式和工具。将这些最新发展纳入研究之中,是本文的一个亮点。
[Abstract]:Real estate industry is a capital-intensive industry, for real estate development enterprises, must have a strong financing ability to survive in the fierce competition. In the past decade, due to the macro-control of the government. The financing environment of the real estate industry is becoming more and more tight. Under such circumstances, the market has become divided. Large enterprises rely on long-term cooperative relationship with the banks to tide over the difficulties. Meanwhile, the competitiveness of the industry is weakened, which is not conducive to the healthy development of the real estate industry in the long run. Based on the above objective facts, this paper uses the methods of literature review and case analysis, based on the basic principle of equilibrium of risk and income in financial market. This paper studies how to optimize the financing strategy of small and medium-sized real estate industry, and puts forward a financing scheme that can meet the risk preference and income expectation of both investors and financiers. In order to improve the possibility of financing, this paper first reviews the classical theory and related empirical research on corporate financing, and then analyzes the development of real estate market and real estate finance in China. On the basis of the introduction of the traditional financing channels of the real estate enterprises, the paper points out the financing problems and causes of the small and medium-sized real estate enterprises. Then, this paper takes Y Company, a small and medium-sized real estate enterprise, as a typical case, analyzes the characteristics of its business model and capital demand, and points out the causes of its financing difficulties. This paper probes into the possible financing strategies and approaches, and puts forward the concrete financing scheme design, which provides a new way to solve the financing problem. Although many researches have been done on the financing of small and medium-sized real estate enterprises in this paper, since 21th century, there has been further development in the field of finance and industry. There are many different models and tools in the past. It is one of the highlights of this paper to incorporate these latest developments into the research.
【学位授予单位】：广西大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

【共引文献】