【摘要】：房地產(chǎn)業(yè)是我國的支柱產(chǎn)業(yè)之一,其健康發(fā)展對國民經(jīng)濟(jì)的發(fā)展起著重要作用,而有效地解決該行業(yè)的融資問題是促進(jìn)其健康發(fā)展的重要條件。據(jù)統(tǒng)計(jì),我國房地產(chǎn)企業(yè)的開發(fā)資金70%左右直接或間接地來自銀行貸款,房地產(chǎn)企業(yè)習(xí)慣從國內(nèi)銀行拿錢,而對其他的金融工具了解甚少。本論文研究的目的就是要幫助房地產(chǎn)企業(yè)認(rèn)清當(dāng)前的融資形勢,了解房地產(chǎn)融資理論和房地產(chǎn)信托的基本理論,掌握房地產(chǎn)信托融資的運(yùn)作方法和要點(diǎn),運(yùn)用房地產(chǎn)信托融資方式拓寬融資渠道,有效地解決當(dāng)前企業(yè)面臨的融資問題,緩解融資困境,提升企業(yè)資本運(yùn)營的能力。論文的主要內(nèi)容為: 第一部分:緒論部分,分析論文選題的背景,對比中外研究現(xiàn)狀,闡述選題的目的及意義和研究方法及路線。 第二部分:研究房地產(chǎn)融資的基本理論,為房地產(chǎn)企業(yè)選擇信托方式進(jìn)行融資提供理論支撐。這部分首先闡述房地產(chǎn)融資的概念、特征及基本原則;然后分析房地產(chǎn)企業(yè)可以利用的主要融資方式及目前各方式在我國運(yùn)作存在的障礙;最后提出房地產(chǎn)企業(yè)進(jìn)行融資決策應(yīng)該考慮的主要因素。 第三部分:研究房地產(chǎn)信托的基本理論,為設(shè)計(jì)房地產(chǎn)信托產(chǎn)品提供理論基礎(chǔ)。首先介紹房地產(chǎn)信托的涵義、基本類型及特征,讓房地產(chǎn)企業(yè)及投資者了解房地產(chǎn)信托;然后分析信托融資對房地產(chǎn)企業(yè)的意義;最后研究房地產(chǎn)信托與宏觀經(jīng)濟(jì)政策的聯(lián)動(dòng)性,分析其前景。 第四部分:在深入分析我國現(xiàn)存房地產(chǎn)信托市場的基礎(chǔ)上,研究房地產(chǎn)企業(yè)如何運(yùn)用房地產(chǎn)信托進(jìn)行融資操作,這是全文的核心。首先提出房地產(chǎn)企業(yè)與信托投資公司合作的要點(diǎn),研究房地產(chǎn)企業(yè)如何達(dá)到運(yùn)用房地產(chǎn)信托融資的條件,并且明確房地產(chǎn)企業(yè)在信托融資中的地位,這是房地產(chǎn)企業(yè)成功申請信托融資的前提條件;其次,提出房地產(chǎn)信托融資的一般操作流程和不同信托類型具體的操作流程;再次,研究房地產(chǎn)信托產(chǎn)品應(yīng)該如何設(shè)計(jì),包括信托產(chǎn)品規(guī)模、期限、流動(dòng)性的設(shè)計(jì)、預(yù)期收益率的測算;然后,根據(jù)不同類型的房地產(chǎn)信托對房地產(chǎn)企業(yè)的利弊,研究房地產(chǎn)企業(yè)應(yīng)該選擇何種信托類型;最后,結(jié)合案例對信托融資的資金成本進(jìn)行分析。 第五部分:運(yùn)用風(fēng)險(xiǎn)分析技術(shù)研究房地產(chǎn)企業(yè)運(yùn)用信托融資的主要風(fēng)險(xiǎn)以及防范風(fēng)險(xiǎn)的措施。
[Abstract]:The real estate industry is one of the pillar industries in our country, and its healthy development plays an important role in the development of national economy. It is an important condition to effectively solve the financing problem of this industry to promote its healthy development. According to statistics, about 70% of the development funds of Chinese real estate enterprises come directly or indirectly from bank loans. Real estate enterprises are used to taking money from domestic banks, but they know little about other financial instruments. The purpose of this paper is to help the real estate enterprises to understand the current financing situation, to understand the real estate financing theory and the basic theory of real estate trust, to grasp the operation methods and key points of the real estate trust financing. The use of real estate trust financing means to broaden financing channels, effectively solve the current financing problems faced by enterprises, ease the financing difficulties, and enhance the ability of capital operation of enterprises. The main contents of the thesis are as follows: the first part: the introduction part, analyzes the background of the selected topic, compares the present situation of domestic and foreign research, expounds the purpose, significance, research method and route of the topic. The second part: study the basic theory of real estate financing, and provide theoretical support for real estate enterprises to choose trust financing. This part first describes the concept, characteristics and basic principles of real estate financing, and then analyzes the main financing methods that can be used by real estate enterprises and the obstacles to their operation in China. Finally, the paper puts forward the main factors that should be considered in the financing decision of real estate enterprises. The third part: study the basic theory of real estate trust, and provide the theoretical basis for designing real estate trust products. This paper first introduces the meaning, basic types and characteristics of the real estate trust, so that the real estate enterprises and investors understand the real estate trust, and then analyzes the significance of trust financing to the real estate enterprises. Finally, the paper studies the linkage of real estate trust and macroeconomic policy, and analyzes its prospect. The fourth part: on the basis of deeply analyzing the existing real estate trust market in our country, it is the core of this paper to study how to use the real estate trust to finance the real estate enterprise. First of all, it puts forward the key points of the cooperation between real estate enterprises and trust and investment companies, studies how real estate enterprises achieve the conditions of using real estate trust financing, and clarifies the status of real estate enterprises in trust financing. This is the precondition for real estate enterprises to apply for trust financing successfully. Secondly, the general operation process and specific operation flow of different types of trust financing are proposed. Thirdly, how to design real estate trust products is studied. It includes the design of trust product scale, duration, liquidity, and the calculation of expected rate of return. Then, according to the advantages and disadvantages of different types of real estate trusts to real estate enterprises, the paper studies which types of trusts should be selected by real estate enterprises. Finally, Combined with a case study, the paper analyzes the capital cost of trust financing. The fifth part: using the risk analysis technology to study the main risks of the real estate enterprises using trust financing and the measures to prevent the risks.
【學(xué)位授予單位】：重慶大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2005
【分類號】：F293.3

【引證文獻(xiàn)】

相關(guān)博士學(xué)位論文 前1條

1 李哲;中國房地產(chǎn)開發(fā)企業(yè)投資行為研究[D];東北財(cái)經(jīng)大學(xué);2009年

相關(guān)碩士學(xué)位論文 前1條

1 杜江;房地產(chǎn)上市公司資本結(jié)構(gòu)與融資方式創(chuàng)新[D];四川大學(xué);2006年

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本文編號：2158999