本文選題：房地產(chǎn) + 融資模式　； 參考：《山東大學(xué)》2011年碩士論文

【摘要】：房地產(chǎn)業(yè)是我國的支柱產(chǎn)業(yè)之一,是推動我國經(jīng)濟(jì)快速增長的產(chǎn)業(yè)之一,房地產(chǎn)業(yè)的健康穩(wěn)定發(fā)展對我國經(jīng)濟(jì)的增長將產(chǎn)生深遠(yuǎn)的影響,房地產(chǎn)業(yè)的發(fā)展可以帶動一系列相關(guān)產(chǎn)業(yè)的發(fā)展,為社會提供就業(yè)機(jī)會。房地產(chǎn)業(yè)是典型的資金密集型產(chǎn)業(yè),有效解決該行業(yè)的融資問題是促進(jìn)其健康發(fā)展的途徑。 我國房地產(chǎn)資金來源主要以銀行貸款為主,其他金融方式如上市融資、信托融資、債券融資以及基金融資等占比例較小,融資結(jié)構(gòu)比較單一。近幾年,政府出臺的一系列金融信貸政策,提高了房地產(chǎn)企業(yè)貸款的門檻,提高了房地產(chǎn)企業(yè)的自有資金比例,加上2008年次貸危機(jī)誘發(fā)的金融危機(jī),使得一半以上的房地產(chǎn)企業(yè)面臨資金鏈斷裂之患,迫使房地產(chǎn)企業(yè)調(diào)整資本結(jié)構(gòu),積極尋找新的融資渠道。 本文首先對我國房地產(chǎn)業(yè)的發(fā)展中遇到的問題進(jìn)行了闡述,并由此引出本文的研究目的是解決房地產(chǎn)企業(yè)融資問題。接著介紹了房地產(chǎn)融資模式的理論基礎(chǔ)——資本結(jié)構(gòu)理論和有效市場理論,然后分析了我國房地產(chǎn)行業(yè)發(fā)展?fàn)顩r及融資現(xiàn)狀,找出房地產(chǎn)企業(yè)融資存在的問題,并深入分析了房地產(chǎn)企業(yè)融資問題的根源,最后根據(jù)資本結(jié)構(gòu)理論,在資本結(jié)構(gòu)最優(yōu)化(加權(quán)平均資本成最低)的框架內(nèi),建立了房地產(chǎn)企業(yè)的融資模型,提出了房地產(chǎn)企業(yè)的融資模式。 通過論證研究,本文旨在消化國家宏觀金融政策變動的沖擊,化解房地產(chǎn)開發(fā)企業(yè)資金鏈斷裂危機(jī),解決當(dāng)前房地產(chǎn)企業(yè)融資渠道單一的問題,幫助它們找到一條可行多元化融資優(yōu)化模式,以實現(xiàn)企業(yè)的可持續(xù)發(fā)展。 本文的創(chuàng)新之處是在資本結(jié)構(gòu)的框架內(nèi)研究了房地產(chǎn)企業(yè)的融資模式；不但根據(jù)企業(yè)價值最大化理論建立了房地產(chǎn)企業(yè)的融資模型；還探討了房地產(chǎn)企業(yè)融資的政治成本。
[Abstract]:The real estate industry is one of the pillar industries of our country and one of the industries that promote the rapid economic growth of our country. The healthy and stable development of the real estate industry will have a profound impact on the economic growth of our country. The development of real estate industry can drive the development of a series of related industries and provide employment opportunities for the society. The real estate industry is a typical capital-intensive industry, and the effective solution to its financing problem is the way to promote its healthy development. The main sources of real estate funds in China are bank loans, other financial methods such as listed financing, trust financing, etc. Bond financing and fund financing account for a small proportion, financing structure is relatively single. In recent years, a series of financial and credit policies introduced by the government have raised the threshold of loans for real estate enterprises, increased the proportion of their own funds, and added to the financial crisis induced by the subprime mortgage crisis in 2008. More than half of the real estate enterprises are faced with the problem of capital chain breakage, forcing the real estate enterprises to adjust their capital structure and actively seek new financing channels. Firstly, this paper expounds the problems encountered in the development of the real estate industry in China. The purpose of this paper is to solve the financing problem of real estate enterprises. Then it introduces the theory foundation of real estate financing mode-capital structure theory and efficient market theory, then analyzes the development and financing status of real estate industry in our country, and finds out the problems existing in the financing of real estate enterprises. At last, according to the theory of capital structure, the financing model of real estate enterprise is established under the framework of capital structure optimization (weighted average capital being the lowest). This paper puts forward the financing mode of real estate enterprises. Through demonstration and research, this paper aims at digesting the impact of the change of national macro financial policy, resolving the crisis of capital chain breakage in real estate development enterprises, and solving the problem of single financing channel of real estate enterprises at present. To help them find a feasible and diversified financing optimization model to achieve the sustainable development of enterprises. The innovation of this paper is to study the financing model of real estate enterprises within the framework of capital structure; This paper not only establishes the financing model of real estate enterprise according to the theory of maximizing enterprise value, but also probes into the political cost of real estate enterprise financing.
【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2011
【分類號】：F293.33

【引證文獻(xiàn)】

相關(guān)期刊論文 前1條

1 尹隆;;養(yǎng)老地產(chǎn)開發(fā)和經(jīng)營中的信托融資問題研究[J];老齡科學(xué)研究;2013年04期

相關(guān)碩士學(xué)位論文 前2條

1 何秀平;我國房地產(chǎn)行業(yè)資金鏈危機(jī)預(yù)警研究[D];浙江工商大學(xué);2013年

2 殷濤;我國房地產(chǎn)企業(yè)融資模式創(chuàng)新研究[D];河南大學(xué);2013年

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本文編號：2007709