本文關(guān)鍵詞： 房地產(chǎn) 上市公司 財(cái)務(wù)績效 指標(biāo)體系　出處：《哈爾濱理工大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：我國房地產(chǎn)行業(yè)近年來發(fā)展勢(shì)頭強(qiáng)勁，競(jìng)爭(zhēng)日益激烈。隨著該行業(yè)過熱的發(fā)展以及經(jīng)濟(jì)泡沫的出現(xiàn)，房地產(chǎn)市場(chǎng)隱患重重，為了引導(dǎo)房地產(chǎn)行業(yè)良性發(fā)展，政府展開一系列有效的宏觀調(diào)控，房地產(chǎn)業(yè)面臨較大壓力。在這種情況下對(duì)該行業(yè)財(cái)務(wù)績效展開研究是十分必要的。房地產(chǎn)上市公司是行業(yè)綜合實(shí)力的代表，對(duì)其財(cái)務(wù)績效展開分析評(píng)價(jià)，有助于了解房地產(chǎn)行業(yè)的發(fā)展現(xiàn)狀以及存在的問題，促進(jìn)房地產(chǎn)企業(yè)實(shí)現(xiàn)可持續(xù)發(fā)展。 本文在總結(jié)國內(nèi)外績效評(píng)價(jià)理論的基礎(chǔ)上，首先深入研究傳統(tǒng)財(cái)務(wù)績效評(píng)價(jià)指標(biāo)體系下普遍使用的四方面評(píng)價(jià)指標(biāo)，分析出這些指標(biāo)用于房地產(chǎn)行業(yè)的局限性。然后根據(jù)指標(biāo)選擇的原則和房地產(chǎn)上市公司的特點(diǎn)，在傳統(tǒng)財(cái)務(wù)指標(biāo)的基礎(chǔ)上增加了四類財(cái)務(wù)指標(biāo)。在此基礎(chǔ)上運(yùn)用統(tǒng)計(jì)方法篩選出最適合的指標(biāo)群，構(gòu)建了房地產(chǎn)上市公司財(cái)務(wù)績效評(píng)價(jià)指標(biāo)體系。最后，選擇80家上市公司2011年年報(bào)數(shù)據(jù)為樣本，運(yùn)用因子分析法和SPSS軟件對(duì)構(gòu)建的指標(biāo)體系進(jìn)行實(shí)證研究，并對(duì)房地產(chǎn)上市公司財(cái)務(wù)績效展開分析評(píng)價(jià)，提出建議。 通過評(píng)價(jià)房地產(chǎn)上市公司的財(cái)務(wù)績效狀況，得出以下結(jié)論：房地產(chǎn)上市公司盈利能力較好，投資者利益保障狀況和市場(chǎng)表現(xiàn)能力良好，但是，償債能力和現(xiàn)金流量狀況較差，營運(yùn)能力狀況不佳，未來的發(fā)展前景不明朗，，行業(yè)發(fā)展不均衡。針對(duì)以上問題，提出建議：房地產(chǎn)上市公司應(yīng)該優(yōu)化資本結(jié)構(gòu)，加強(qiáng)現(xiàn)金流量管理，以宏觀政策為導(dǎo)向強(qiáng)化內(nèi)部管理，拓寬投資區(qū)域。 本文主要通過理論分析結(jié)合實(shí)證研究的方式建立了房地產(chǎn)上市公司財(cái)務(wù)績效評(píng)價(jià)指標(biāo)體系，旨在為高層管理者的經(jīng)營決策提供模型，便于其決策，使得上市公司乃至全行業(yè)更好地發(fā)展。
[Abstract]:China's real estate industry has developed strongly in recent years, and the competition has become increasingly fierce. With the development of this industry and the emergence of economic bubble, there are many hidden dangers in the real estate market, in order to guide the healthy development of the real estate industry, The government carries out a series of effective macro-control, the real estate industry faces great pressure. In this case, it is very necessary to study the financial performance of the industry. The real estate listed company is the representative of the comprehensive strength of the industry. The analysis and evaluation of its financial performance will help to understand the present situation and existing problems of the real estate industry and promote the sustainable development of the real estate enterprises. On the basis of summing up the theories of performance evaluation at home and abroad, this paper first deeply studies the four commonly used evaluation indexes under the traditional financial performance evaluation index system. Analysis of the limitations of these indicators used in the real estate industry. Then according to the principles of index selection and the characteristics of listed real estate companies, On the basis of the traditional financial indexes, four kinds of financial indexes are added. On this basis, the most suitable index groups are selected by using the statistical method, and the financial performance evaluation index system of the listed real estate companies is constructed. Finally, the financial performance evaluation index system of the listed real estate companies is constructed. Based on the data of 2011 annual report of 80 listed companies, this paper uses factor analysis and SPSS software to make an empirical study on the index system, and analyzes and evaluates the financial performance of real estate listed companies, and puts forward some suggestions. By evaluating the financial performance of listed real estate companies, the following conclusions are drawn: the listed real estate companies have better profitability, better protection of investors' interests and better market performance, but poor solvency and cash flow. The operating capacity is not good, the future development prospect is not clear, the industry development is not balanced. In view of the above problems, put forward some suggestions: real estate listed companies should optimize the capital structure, strengthen the cash flow management, To macro-policy-oriented strengthening of internal management, broaden the investment area. In this paper, the financial performance evaluation index system of listed real estate companies is established by theoretical analysis and empirical research, which aims to provide a model for senior managers to make decisions. So that listed companies and even the whole industry better development.
【學(xué)位授予單位】：哈爾濱理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F299.233.4

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