REITs与MBS模式应用的制约因素分析与对策研究

发布时间：2018-01-04 14:21

本文关键词：REITs与MBS模式应用的制约因素分析与对策研究　出处：《吉林大学》2013年硕士论文　论文类型：学位论文

【摘要】：房地产业作为国家重要的支柱产业之一，发展的情况直接影响国家的整体经济水平。一个建筑类产业可以同时带动工业、商业、交通、文化等多方面产业的共同繁荣，房地产业的蓬勃不仅能给国家带来巨大经济效益，同时也反映了一个国家人民的民生情况。由于房地产是一个投资额大，收益期长的工程，，所以为保证企业的可持续发展，融资能力起到了决定性的作用。房地产融资在世界上发展了已经近百年之久，融资模式也随着世界的进步在不断地变化更新，REITs与MBS这两种融资模式就是在这个过程中诞生的。在中国，房地产业的真正发展是从住房分配制度转向商品住房之后开始的。在政府的大力支持下，房地产业飞速发展，融资能力匮乏的现象却一点点暴露出来。基于上述背景，为了中国房地产业进一步的发展，为加强我国房地产融资，本文将重点研究REITs与MBS这两种融资模式在中国的应用存在的问题，并给出相应的对策。首先，查阅大量资料，通过REITs与MBS融资模式的诞生与发展分析REITs与MBS两种融资模式国内外应用现状。再通过研究国内房地产融资存在的问题分析REITs与MBS两种融资模式的应用价值。其次，通过比较REITs与MBS融资模式在国内和国外发展的环境差异，找出这两种模式在国内应用存在的融资相关主体，融资市场，法律政策和社会文化四个方面的影响因素。再次，采用模糊数学评价的方法对这四个影响因素进行评价，根据评价结果找出关键性的制约因素，并给出相应的解决对策。本文希望通过对于REITs与MBS模式国内外应用的研究，找出这两种融资模式在应用过程存在的关键性制约因素，并给出相应的解决对策，以达到促进国内房地产融资发展，加强房地产业的建设，使中国房地产在前进的道路上健康成长。
[Abstract]:The real estate industry as an important pillar industry of the country, the development of the national economy level directly affects the construction industry. One can also drive the industrial, commercial, transportation, culture and other aspects of the common prosperity of the industry, the real estate industry has not only brought huge economic benefits to the country, but also reflects the the people's livelihood of the people of a nation. Because real estate is a large amount of investment income, long period project, so as to ensure the sustainable development of enterprises, financing ability plays a decisive role. The development of real estate financing has nearly a hundred years in the world, financing pattern along with the progress of the world in change constantly update, REITs and MBS of the two financing mode is born in this process. In China, the real development of the real estate industry is from the housing distribution system to start commercial housing after. In politics Under the strong support of the government, the real estate industry has developed rapidly, but the phenomenon of lack of financing capacity is a little exposed.
Based on the above background, the development of real estate industry in order to Chinese further, to strengthen the real estate financing in our country, this paper will focus on Application of REITs and MBS of the two financing mode in the Chinese problem, and gives the corresponding countermeasures. First, access to large amounts of data, through the analysis of the birth and development of REITs and MBS financing mode REITs and MBS two kinds of financing mode application status at home and abroad. The application value analysis to exist through the study of domestic real estate financing REITs and MBS two kinds of financing mode. Secondly, through the comparison of the REITs and MBS financing mode in the domestic and foreign development environment difference, find out these two kinds of models in finance related subject, domestic the application of existing financing market, the influence factors of the four aspects of legal policy and social culture. Thirdly, using fuzzy mathematics method to evaluate the four influencing factors, according to the evaluation results for The key constraints are given and the corresponding solutions are given.
This paper hopes to research the REITs and MBS mode application at home and abroad, to find out the factors restricting the two financing mode in the key application process exists, and gives the corresponding countermeasures to promote the development of the domestic real estate financing, strengthen the construction of the real estate industry, the real estate China healthy growth on the road ahead.

【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.4;F224

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