我国房地产上市公司盈利能力实证分析

发布时间：2018-01-10 06:02

本文关键词：我国房地产上市公司盈利能力实证分析　出处：《重庆大学》2014年硕士论文　论文类型：学位论文

【摘要】：20年来，房地产业蓬勃发展，已经成为我国国民经济的支柱产业之一，在经济建设中扮演着越来越重要的作用。然而，2008年全球性金融危机以及政府一系列宏观调控政策使得我国房地产市场发生了深刻变化，中国房地产市场进入深度调整期。当前中国的房地产企业，普遍存在着企业规模小、管理水平低、资产负债率高、资信不高、市场竞争力有限、项目运作能力差、整体盈利水平低等问题，，所有这些增加了经营风险，企业的生存和发展面临巨大压力。在此背景下，房地产企业要想在不断变化的市场上获得生存和发展的空间，必须积极探索新的盈利模式和发展思路，增强自己的盈利能力，因此研究房地产上市公司盈利能力极其影响因素，对于规范房地产市场合理健康、持续发展有一定现实意义和指导意义。本文选取净资产收益率、销售净利率、销售毛利率、净利润、每股收益、营业收入、每股主营业务收入、每股净资产、每股净现金流量、净利润增长率10个盈利能力的特征指标，采集我国116家房地产上市公司2009至2013年五年的截面数据作为样本数据，运用主成分分析法，得出各房地产公司综合得分和排名情况，并以各公司综合得分作为其盈利能力综合指标，建立回归模型，测定盈利能力及其影响因素之间的相关关系，得出房地产上市公司发展相应的建议和对策，实现房地产上市公司盈利能力的提高和行业的均衡发展。
[Abstract]:In 20 years, the real estate industry vigorous development, has become one of the pillar industries of our national economy, plays an increasingly important role in economic development. However, in 2008 the global financial crisis and the government macro-control policy makes China's real estate market has undergone profound changes, Chinese real estate market into a deep adjustment the current China period. Real estate enterprises generally exist in small scale enterprises, the management level is low, the high rate of assets and liabilities, credit is not high, the market competitiveness is limited, project operation ability, low overall level of profitability, all of which increase the operation risk, the survival and development of enterprises are facing tremendous pressure. Under this background and the real estate enterprises want to survive and develop in the changing market, we must actively explore the profit model and new development ideas, enhance their profitability, therefore Study on profitability of listed real estate companies and related influencing factors, to regulate the real estate market healthy, sustainable development has certain practical significance and guiding significance.
This paper selects the rate of return on net assets, net sales, gross margin, net profit, earnings per share, operating income per share, the main business income, net assets per share, net cash flow per share, net profit growth rate index 10 profitability of the acquisition of 116 Chinese real estate listed companies from 2009 to 2013 five the cross section data as the sample data, using principal component analysis, the Real Estate Company comprehensive score and ranking, and the comprehensive score of each company as a comprehensive index of its profitability, establish regression model, determination of profitability relationship between force and its influence factors, the corresponding suggestions and Countermeasures of development that listed real estate companies. To achieve a balanced development of the real estate listed company profitability and enhance the industry.

【学位授予单位】：重庆大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42;F224

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