發(fā)布時(shí)間：2018-01-18 11:11

  本文關(guān)鍵詞：保利房地產(chǎn)股份有限公司融資策略改進(jìn)研究　出處：《吉林大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 房地產(chǎn)企業(yè) 融資 融資策略 改進(jìn)

【摘要】：作為我國(guó)重要產(chǎn)業(yè)之一的房地產(chǎn)業(yè),具有自身的獨(dú)特特點(diǎn),簡(jiǎn)單講就是“資金需求多、投資規(guī)模大、投資周期長(zhǎng)、投資收益高”等,一直以來(lái),我國(guó)房地產(chǎn)企業(yè)融資呈現(xiàn)持續(xù)上升趨勢(shì),2013年我國(guó)整體房地產(chǎn)開發(fā)總額為8.6萬(wàn)億元,5年連續(xù)增長(zhǎng)率均為23%。在此之后的幾年雖然增速有所減緩,但仍呈現(xiàn)上升趨勢(shì),2016年,我國(guó)房地產(chǎn)開發(fā)投資額為10.3萬(wàn)億元,同比增長(zhǎng)6.9%。持續(xù)增長(zhǎng)的投資額意味著融資的增加,與房地產(chǎn)企業(yè)而言,如何在進(jìn)行融資的同時(shí)保證企業(yè)處于低風(fēng)險(xiǎn)、低成本,是一個(gè)急需解決的難題,房地產(chǎn)企業(yè)的融資問題也日益成為影響企業(yè)發(fā)展壯大的關(guān)鍵問題。在我國(guó)房地產(chǎn)金融市場(chǎng)逐步完善、市場(chǎng)競(jìng)爭(zhēng)激烈加劇以及國(guó)家政策調(diào)整的影響下,如何拓展融資渠道、優(yōu)化融資結(jié)構(gòu)、持續(xù)降低融資成本是每一個(gè)房地產(chǎn)企業(yè)都迫切需要正視和解決的難題。保利房地產(chǎn)股份有限公司作為國(guó)內(nèi)較大的房地產(chǎn)企業(yè)之一,在融資方面一直保持著相對(duì)較好的融資狀況和融資效果,并以相對(duì)較低的融資成本在同行業(yè)競(jìng)爭(zhēng)中保持著一定的優(yōu)勢(shì)。然而,在行業(yè)競(jìng)爭(zhēng)和資源整合的當(dāng)下,保利房地產(chǎn)公司的融資也依然存在一些問題,保利地產(chǎn)融資方面的其他問題依然可能會(huì)成為制約其發(fā)展的阻力,對(duì)其進(jìn)行研究具有一定的價(jià)值和意義。本文以保利地產(chǎn)股份有限公司的融資策略為研究對(duì)象,結(jié)合與房地產(chǎn)企業(yè)融資相關(guān)的融資理論和國(guó)內(nèi)外相關(guān)的研究基礎(chǔ),對(duì)保利地產(chǎn)的融資問題展開研究�；诒疚牡倪x題依據(jù),文章首先對(duì)本研究的研究背景與意義、研究方法與內(nèi)容、研究開展的理論基礎(chǔ)和國(guó)內(nèi)外相關(guān)的文獻(xiàn)綜述進(jìn)行了說(shuō)明,在此之后對(duì)本研究的主體部分進(jìn)行了有順序的論述。全文主體部分主要包括三方面的內(nèi)容。第一部分,對(duì)保利地產(chǎn)的企業(yè)基本情況、融資發(fā)展現(xiàn)狀和融資中存在的問題進(jìn)行了解和分析,通過融資情況分析發(fā)現(xiàn)保利地產(chǎn)融資存在的優(yōu)勢(shì)和劣勢(shì),并詳細(xì)論述劣勢(shì)即主要問題。通過分析可知保利地產(chǎn)融資問題主要有四個(gè),即過于依賴現(xiàn)有融資渠道、資產(chǎn)負(fù)債率和財(cái)務(wù)風(fēng)險(xiǎn)較高、企業(yè)自我融資比例小和存在較大的潛在融資風(fēng)險(xiǎn)。第二部分,對(duì)保利地產(chǎn)融資主要問題進(jìn)行成因分析,針對(duì)第一部分提到的四個(gè)問題,分別找出相對(duì)應(yīng)的原因即融資創(chuàng)新意識(shí)欠缺、融資結(jié)構(gòu)不合理、企業(yè)自我融資能力略顯薄弱和融資風(fēng)險(xiǎn)管理的制度體系不健全。其中,融資創(chuàng)新意識(shí)欠缺下從兩點(diǎn)進(jìn)行論述,即融資創(chuàng)新程度較低和融資相對(duì)單一、多元化和多層次的融資渠道有待開發(fā)。第三部分,提出了對(duì)保利地產(chǎn)融資問題進(jìn)行改進(jìn)的措施,包括四方面內(nèi)容即注重融資創(chuàng)新并構(gòu)建多元化融資渠道(包括注重融資創(chuàng)新、擴(kuò)大非信貸和直接融資比例和制定多元化融資策略三項(xiàng)內(nèi)容)、優(yōu)化融資結(jié)構(gòu)以實(shí)現(xiàn)資金供求均衡、增強(qiáng)企業(yè)盈利能力以提升企業(yè)融資能力(包括增強(qiáng)企業(yè)盈利能力以提升企業(yè)自我融資能力和增強(qiáng)企業(yè)融資議價(jià)能力兩項(xiàng)內(nèi)容)以及完善內(nèi)部控制章程并優(yōu)化融資風(fēng)險(xiǎn)管理體系。本文試圖為保利地產(chǎn)的融資策略改進(jìn)提供行之有效的建議,對(duì)于增強(qiáng)其在同行業(yè)的核心競(jìng)爭(zhēng)力提供巨大推動(dòng)作用。另外,我國(guó)房地產(chǎn)行業(yè)存在一些共同的問題,作為國(guó)內(nèi)排名靠前的房地產(chǎn)公司,保利房地產(chǎn)的融資改進(jìn)研究對(duì)于同行業(yè)地產(chǎn)公司也具有一定的參考價(jià)值。
[Abstract]:As one of the most important industries in China's real estate industry, has its own unique characteristics, is simply "capital requirements, large scale of investment, long investment cycle, high return on investment, since the financing of real estate enterprises in China showed a rising trend, the overall real estate development in 2013 China's total of 8 trillion and 600 billion yuan 5 years of continuous growth, the rate of 23%. after a few years although the growth rate has slowed down, but still showed a rising trend, in 2016, China's real estate development investment 10 trillion and 300 billion yuan, an increase of 6.9%. growth in investment means of financing increases, and real estate enterprises, how to ensure that the enterprise is low risk, low cost and financing, is an urgent problem, the problem of financing the real estate business has become a key problem in the development of enterprise in our country. The real estate financial market gradually To improve the effect of the intense market competition intensifies, and the adjustment of national policies, how to expand financing channels, optimize financing structure, reduce the cost of financing is difficult to continue every real estate enterprises have an urgent need to face and solve. Poly Real Estate Limited by Share Ltd as one of the large real estate enterprises in China, has maintained a relatively good financing in terms of financing status and financing effect, and the relatively low cost of financing in the same industry competition maintains certain advantages. However, the competition in the industry and the integration of the resources of the moment, poly Real Estate Company financing still exist some problems and other issues still Poly Real estate financing may be restricting the development of resistance and has a certain value and significance of the research. In this paper, Poly Real estate financing strategy of Limited by Share Ltd as the research object, combined with the The real estate enterprise financing related financing theory and the domestic and foreign related research foundation, study the financing problem of Poly Real estate. The topic of this paper is based on, firstly, the research background and significance of this study, research methods and contents, research on the theoretical basis and the related literature review described here in the main part of this research was the order of the paper. The main part of this paper mainly includes three parts. The first part, the basic situation of real estate enterprises, understand and analyze the existing financing development situation and problems in financing, financing through case analysis shows that there are poly estate financing advantages and disadvantages. And describes the disadvantages that major problems. Through the analysis of the financing problem of the real estate has four, is too dependent on the existing financing channels, asset liability ratio and The higher financial risk, enterprise self financing ratio of small and there is a big potential financing risk. The second part analyzed the causes of the main problems of Poly Real estate financing, in the first part of the four mentioned problems, the causes were found out the corresponding financing is a lack of awareness of innovation, unreasonable financing structure, enterprise self financing system ability weak and the financing risk management is not perfect. Among them, the lack of awareness of innovation financing from two points are discussed, namely financing innovation degree is low and the financing is relatively single, diversified and multi-level financing channels to be developed. The third part puts forward the improvement measures of the financing problem of Poly Real estate, including four aspects: focus on financing innovation and construction of diversified financing channels (including the emphasis on financing innovation, non credit and the proportion of direct financing to expand and develop a diversified financing strategy in three Volume), optimize the financing structure to realize the equilibrium of supply and demand of funds, enhance the profitability of the business to enhance the financing capacity of enterprises (including enhance the profitability of the business enterprise to enhance self financing ability and enhance the bargaining power of enterprises financing two items) and improve the internal control regulations and optimize the financing risk management system. This paper attempts to provide effective suggestions for real estate the financing strategy for improvement, provide great impetus to enhance its core competitiveness in the industry. In addition, there are some common problems in China's real estate industry, as the domestic ranking Real Estate Company, Poly Real estate financing improvement research also has certain reference value to the real estate industry with the company.

【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F299.233.42
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本文編號(hào)：1440677