X房地产公司融资风险控制研究

发布时间：2018-05-26 21:24

本文选题：房地产 + 宏观调控　；参考：《重庆理工大学》2014年硕士论文

【摘要】：房地产业作为我国国民经济的支柱产业，在现代社会经济中占有举足轻重的地位。房地产开发项目规模大、周期长、房地产价值昂贵等特点使得房地产企业需要庞大的资金支持，广泛的融资渠道和低廉的资金成本已成为房地产企业的核心竞争力。受到中国金融市场发展缓慢的限制，中国房地产企业传统融资方式主要为企业自筹、银行贷款以及部分定金和预收款项。随着近几年房地产调控不断升级，传统融资渠道不断受阻，房地产企业为了求得生存，被迫尝试了一些“新兴”的方式，如信托融资、房地产基金、上市IPO等。这些新的融资渠道、融资方式应势而起，得到迅速发展，也带来了新的融资风险。融资风险无处不在、无时不有、不可避免，需要对这些潜在的风险进行深入分析并进行合理控制，才能保障企业的生存和发展。本论文在此背景下对X房地产公司的融资风险控制问题进行深入探析与研究，，通过对本文的研究背景、目的、意义及创新点进行阐述，对研究框架和技术路线进行说明，了解论文写作基础和方向。再通过对MM理论、权衡理论、优序理论等融资风险控制相关理论进行总结，为文章后续论证打下基础。本文的重点部分是通过对我国房地产融资现状的分析，理清我国近几年宏观调控政策对房地产市场带来的影响。然后，根据X房地产公司的融资现状及存在的问题，从政策洞悉、经营效益、融资渠道和资本结构等各方面提出具体的改进建议和对策。最后,以点及面对整个房地产行业发展酝留启示。经过多年宏观调控，大型房地产企业因规模效应拥有更好的融资能力和研发优势将获得更高盈利率，而中小房地产企业劣势将日益加剧，面临的融资困境更加明显，甚至部分中小房地产企业将面临破产、倒闭的风险。因此，深入探寻房地产企业融资渠道，加强融资风险控制已成为房地产企业急需解决的问题。本文通过理论分析与案例分析相结合的研究方法，从一个房地产企业的视角探讨融资风险控制的重要性以及控制的过程和策略，这将有助于房地产企业采用更切实的融资手段，制定更有效的融资策略，达到更理想的融资状态。
[Abstract]:As the pillar industry of our national economy, real estate industry plays an important role in modern society and economy. Because of the large scale, long period and expensive real estate value, real estate enterprises need huge capital support, and wide financing channels and low capital cost have become the core competitiveness of real estate enterprises. Limited by the slow development of China's financial market, the traditional financing methods of Chinese real estate enterprises are mainly self-financing, bank loans and some deposits and advance payments. With the continuous upgrading of real estate regulation and control in recent years, traditional financing channels are constantly blocked. In order to survive, real estate enterprises have been forced to try some "emerging" methods, such as trust financing, real estate funds, listed IPO and so on. These new financing channels, financing methods should rise, rapid development, but also brought new financing risks. Financing risk is ubiquitous and inevitable. It is necessary to analyze these potential risks and control them reasonably in order to ensure the survival and development of enterprises. Under this background, this paper makes a deep analysis and research on the financing risk control of X real estate company, through the research background, purpose, significance and innovation of this paper, explains the research framework and technical route. Understand the foundation and direction of writing. Then through the MM theory, tradeoff theory, priority order theory and other related theories of financing risk control to summarize, for the article to lay the foundation for the subsequent argument. The key part of this paper is to analyze the current situation of real estate financing in China and to clarify the impact of macro-control policies on the real estate market in recent years. Then, according to the current financing situation and existing problems of X real estate company, this paper puts forward some concrete suggestions and countermeasures from the aspects of policy insight, management benefit, financing channel and capital structure. Finally, to point and face the development of the entire real estate industry to stay enlightenment. After years of macro-control, large real estate enterprises will have better financing capacity and R & D advantages because of the scale effect, while the disadvantages of small and medium-sized real estate enterprises will be aggravated day by day, and the financing difficulties will become more obvious. Even some small and medium-sized real estate enterprises will face bankruptcy, bankruptcy risk. Therefore, it is urgent for real estate enterprises to explore financing channels and strengthen financing risk control. By combining theoretical analysis with case analysis, this paper discusses the importance of financing risk control and its process and strategy from the perspective of a real estate enterprise, which will help real estate enterprises to adopt more practical means of financing. Develop more effective financing strategies to achieve a more ideal state of financing.
【学位授予单位】：重庆理工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.4

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