后金融危機時代中國房地產(chǎn)業(yè)危機管理研究
本文關(guān)鍵詞:后金融危機時代中國房地產(chǎn)業(yè)危機管理研究 出處:《南京財經(jīng)大學(xué)》2012年碩士論文 論文類型:學(xué)位論文
更多相關(guān)文章: 金融危機 危機管理 房地產(chǎn)企業(yè) 宏觀調(diào)控
【摘要】:2007年美國次貸危機爆發(fā)以后,就迅速的席卷全球,演變成全球性的金融危機。隨著金融危機逐漸影響到我國經(jīng)濟,作為我國經(jīng)濟發(fā)展的支柱性產(chǎn)業(yè)之一的房地產(chǎn)業(yè)也明顯的受到了沖擊。再加上,自2001年新一輪的房地產(chǎn)周期啟動以來,我國房地產(chǎn)價格持續(xù)上漲,已經(jīng)明顯呈現(xiàn)出房地產(chǎn)泡沫。在內(nèi)憂外患的局面下,房地產(chǎn)行業(yè)出現(xiàn)銷售面積大幅下降、大量空置房以及資金回流困難等問題,,有的企業(yè)甚至出現(xiàn)資金鏈斷裂并面臨破產(chǎn)的威脅。 經(jīng)過2008年下半年至2009年上半年的過渡調(diào)整期后,我國房地產(chǎn)市場正逐步走出低谷期,并呈現(xiàn)恢復(fù)的趨勢。在后金融危機時代,中國房地產(chǎn)企業(yè)如何進行危機管理、順應(yīng)潮流、擺脫危機,并迅速地走上健康可持續(xù)發(fā)展的道路,是一個十分重要而又迫切的課題。 本文研究的目的就在于找出應(yīng)對危機能力強的企業(yè)的共同的經(jīng)營特征。 本文以中國房地產(chǎn)企業(yè)為研究對象,選取了A股62家房地產(chǎn)上市企業(yè)作為研究樣本。從財務(wù)的角度選取了3個維度6個指標作為房地產(chǎn)企業(yè)應(yīng)對危機能力的評價指標,經(jīng)過因子分析的方法,選取了3個主因子,得出了各企業(yè)應(yīng)對危機能力的綜合得分,并根據(jù)這一得分,對所有樣本企業(yè)應(yīng)對危機能力進行了排名。通過比較分析,梳理歸納出應(yīng)對危機能力強的房地產(chǎn)企業(yè)共同的經(jīng)營特征,從而提出假設(shè)提高多元化程度、經(jīng)營規(guī)模和負債水平,都可以提升房地產(chǎn)企業(yè)的應(yīng)對危機的能力。隨后,用Pearson相關(guān)分析的方法檢驗了企業(yè)應(yīng)對危機能力分別與這三個因素的相關(guān)性。研究結(jié)果表明,應(yīng)對危機能力與企業(yè)多元化程度增長率、經(jīng)營規(guī)模增長率之間不存在顯著的相關(guān)關(guān)系,而應(yīng)對危機能力與負債水平增長率之間存在顯著的負相關(guān)關(guān)系。 文章的最后針對研究的結(jié)論提出了相應(yīng)的啟示和建議,以期能為中國的房地產(chǎn)企業(yè)健康、可持續(xù)發(fā)展提供一些可以增強自身應(yīng)對危機能力的參考。
[Abstract]:In 2007, after the outbreak of the subprime mortgage crisis in the United States, it quickly swept the world and evolved into a global financial crisis, with the financial crisis gradually affecting the economy of our country. As one of the pillar industries in China's economic development, the real estate industry is also obviously affected. In addition, since the start of a new round of real estate cycle in 2001, China's real estate prices have continued to rise. In the situation of internal and external problems, the real estate industry has experienced a sharp decline in sales area, a large number of vacant houses and difficulties in the return of funds, and so on. Some enterprises even appear capital chain break and face the threat of bankruptcy. After the transitional adjustment period from the second half of 2008 to the first half of 2009, the real estate market of our country is gradually coming out of the trough period, and showing the trend of recovery, in the post-financial crisis era. It is a very important and urgent task for Chinese real estate enterprises to carry out crisis management, comply with the trend, get rid of the crisis, and quickly embark on the road of healthy and sustainable development. The purpose of this study is to find out the common management characteristics of enterprises with strong ability to deal with crisis. This article takes the Chinese real estate enterprise as the research object. Choose A share 62 real estate listed enterprises as the research sample. From the financial point of view, choose 3 dimensions and 6 indicators as the evaluation index of real estate enterprises' ability to deal with the crisis, through the method of factor analysis. Three main factors are selected to get the comprehensive score of the ability of each enterprise to deal with the crisis, and according to this score, all the sample enterprises are ranked as the ability to deal with the crisis. Combing out the common management characteristics of real estate enterprises with strong ability to deal with the crisis, and then put forward assumptions to improve the degree of diversification, business scale and debt level. Then, the Pearson correlation analysis method is used to test the relationship between the crisis response ability and these three factors. The results show that. There is no significant correlation between the ability to deal with crisis and the growth rate of diversification degree of enterprises, and there is no significant correlation between the growth rate of business scale, but there is a significant negative correlation between the ability to deal with crisis and the growth rate of debt level. At the end of the paper, the author puts forward the corresponding enlightenment and suggestion in view of the conclusion of the study, in order to provide some references for the healthy and sustainable development of Chinese real estate enterprises to strengthen their ability to deal with the crisis.
【學(xué)位授予單位】:南京財經(jīng)大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2012
【分類號】:F293.3;F832.51;F224
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