本文關(guān)鍵詞：我國房地產(chǎn)企業(yè)運(yùn)營模式轉(zhuǎn)型研究　出處：《浙江大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

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【摘要】：本文研究背景是我國房地產(chǎn)業(yè)從開創(chuàng)、發(fā)展、成熟到現(xiàn)在出現(xiàn)專業(yè)分化格局,房地產(chǎn)業(yè)出現(xiàn)局部地區(qū)投資投機(jī)過熱,甚至泡沫化,有些地方又庫存嚴(yán)重,結(jié)構(gòu)性矛盾成為突出問題,各種風(fēng)險(xiǎn)疊加,國家和地方政府先后出臺(tái)一系列如限購、限貸、稅收政策等宏觀調(diào)控措施,加之國家經(jīng)濟(jì)結(jié)構(gòu)調(diào)整,我國房地產(chǎn)企業(yè)發(fā)展遇到前所未有的挑戰(zhàn),發(fā)展進(jìn)入瓶頸期和轉(zhuǎn)型期。在此背景下,房地產(chǎn)企業(yè)運(yùn)營模式轉(zhuǎn)型成了無法回避的問題,本文對(duì)我國房地產(chǎn)企業(yè)目前的重資產(chǎn)運(yùn)營現(xiàn)狀及轉(zhuǎn)型內(nèi)外動(dòng)因進(jìn)行分析,總結(jié)出我國房地產(chǎn)企業(yè)存在轉(zhuǎn)型的必然要求,即我國房地產(chǎn)企業(yè)在目前經(jīng)濟(jì)環(huán)境下存在如資金壓力、成本壓力、稅負(fù)壓力和行業(yè)利潤空間壓力等一系列壓力因素,因此必須要尋求轉(zhuǎn)型。向何處轉(zhuǎn)和怎么轉(zhuǎn)就成為重點(diǎn)研究的問題,本文通過輕資產(chǎn)運(yùn)營模式進(jìn)行理論概述,在分工理論、產(chǎn)業(yè)價(jià)值鏈分析模型和“微笑曲線”等理論以及“營改增”稅制基礎(chǔ)上,對(duì)輕資產(chǎn)運(yùn)營模式的適用條件進(jìn)行了界定和總結(jié),通過研究分析美國“鐵獅門輕資產(chǎn)運(yùn)營模式”,加以借鑒后概括設(shè)計(jì)出供我國房地產(chǎn)企業(yè)可選擇的“輕資產(chǎn)運(yùn)營模式”,即基金搭建融資平臺(tái)、輸出運(yùn)營能力實(shí)現(xiàn)小股操盤、收益分成之初級(jí)模式。在此基礎(chǔ)上進(jìn)一步對(duì)我國國內(nèi)標(biāo)桿房企萬科集團(tuán)和萬達(dá)商業(yè)地產(chǎn)公司的輕資產(chǎn)運(yùn)營模式轉(zhuǎn)型實(shí)踐進(jìn)行分析和歸納,指出輕資產(chǎn)運(yùn)營模式對(duì)我國房地產(chǎn)企業(yè)運(yùn)營模式具有實(shí)踐的可行性和啟示,同時(shí)總結(jié)出輕資產(chǎn)運(yùn)營模式對(duì)我國房地產(chǎn)企業(yè)的現(xiàn)實(shí)意義和借鑒意義。最后得出本文研究結(jié)論和建議,當(dāng)資產(chǎn)升值速度遠(yuǎn)低于資金成本時(shí),輕資產(chǎn)運(yùn)營模式是一個(gè)理性選擇,但輕資產(chǎn)運(yùn)營模式需要企業(yè)具備可供輸出的超強(qiáng)運(yùn)營能力和管理能力及資本運(yùn)作能力等效率優(yōu)勢(shì)。
[Abstract]:The research background of this paper is that the real estate industry of our country has developed from creation, development, maturity to present the specialized differentiation pattern, the real estate industry appears the local investment speculation to overheat, even bubble, some places also have the serious inventory. Structural contradictions become a prominent problem, a variety of risks superposition, the state and local governments have introduced a series of macro-control measures such as purchase restrictions, loan restrictions, tax policies and other macroeconomic control measures, coupled with the adjustment of the national economic structure. The development of real estate enterprises in our country has encountered unprecedented challenges, the development has entered the bottleneck period and the transition period. Under this background, the operation mode of real estate enterprises has become an unavoidable problem. This paper analyzes the present situation of heavy assets operation and the internal and external causes of the transformation of real estate enterprises in China, and summarizes the inevitable requirements of the transformation of real estate enterprises in China. That is, there are a series of pressure factors such as capital pressure, cost pressure, tax burden pressure and profit space pressure in the current economic environment of Chinese real estate enterprises. Therefore, we must seek the transformation. Where to turn and how to turn to become a key issue of research, this paper through the light assets operating mode of theoretical overview, in the division of labor theory. On the basis of industrial value chain analysis model, "smile curve" theory and tax system of "management reform and increase", this paper defines and summarizes the applicable conditions of light assets operation mode. Through the research and analysis of the "Iron Lion Gate Light assets Operation Model" in the United States, the author generalizes and designs the "light assets operation mode" for the real estate enterprises in our country, that is, the fund to build the financing platform. The output operation ability realizes the small stock handle. On this basis, we further analyze and summarize the transformation practice of light assets operation mode of China's domestic benchmark housing enterprise Vanke Group and Wanda Commercial Real Estate Company. It is pointed out that the operation mode of light assets has practical feasibility and enlightenment to the operation mode of real estate enterprises in China. At the same time, it summarizes the practical significance and reference significance of the light assets operation model for the real estate enterprises in China. Finally, this paper draws the conclusions and suggestions, when the appreciation rate of assets is far lower than the capital cost. The operation mode of light assets is a rational choice, but the operation mode of light assets requires the enterprises to have the efficiency advantages such as super operation ability, management ability and capital operation ability which can be output.
【學(xué)位授予單位】：浙江大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F299.233.4

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