本文關(guān)鍵詞： 房地產(chǎn)上市公司 評估增值率 因子分析 相關(guān)性分析　出處：《首都經(jīng)濟貿(mào)易大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：房地產(chǎn)行業(yè)是國民經(jīng)濟的支柱產(chǎn)業(yè)，與經(jīng)濟的增長和人民生活息息相關(guān)，，關(guān)系著我國國民經(jīng)濟發(fā)展和社會的穩(wěn)定。但自2010年起，國家相繼出臺“高壓政策”，試圖打壓房地產(chǎn)業(yè)產(chǎn)生的泡沫暴利，緩解供需矛盾。因此，房地產(chǎn)行業(yè)面臨著嚴(yán)峻的市場和政策環(huán)境，如何順利生存是大多數(shù)房地產(chǎn)上市公司面臨的難題，而并購交易成為助其渡過難關(guān)的一個重要渠道。交易能否實現(xiàn)的前提之一就是企業(yè)價值評估的結(jié)果是否合理，即評估價值是否確切地反映了被評估企業(yè)的實際價值。但是在房地產(chǎn)上市公司的并購交易中，往往伴隨著較高的資產(chǎn)評估增值。為了提高房地產(chǎn)企業(yè)資產(chǎn)評估結(jié)果的信服度，以支持房地產(chǎn)市場并購交易的健康良性發(fā)展，對房地產(chǎn)企業(yè)資產(chǎn)評估結(jié)果增值度的系統(tǒng)研究非常必要。本文以2001—2011年我國房地產(chǎn)上市公司評估案例為背景，采用定量分析與定性分析相結(jié)合，對我國房地產(chǎn)上市公司的評估增值情況進行了實證研究，為科學(xué)評估資產(chǎn)提供了參考。文章的第一部分是引言，主要介紹了選題的意義和背景，回顧了近年來國內(nèi)外學(xué)者們對評估增值度的相關(guān)研究，提出本文的研究內(nèi)容及研究方法；第二部分是評估增值度的理論研究，目的是為后文進行實證研究做好理論的鋪墊；第三部分對我國房地產(chǎn)上市公司資產(chǎn)評估現(xiàn)狀進行了描述性統(tǒng)計；第四部分是對2001—2011年房地產(chǎn)上市公司的評估增值情況進行了實證研究，采用因子分析與相關(guān)性分析相結(jié)合的方法驗證了構(gòu)成評估增值度的因子對評估增值率的實證解釋程度；第五部分是對策與進一步研究的方向，提出了提高房地產(chǎn)上市公司資產(chǎn)評估的公允性的對策建議，指明了本文研究的不足和后續(xù)研究方向。
[Abstract]:The real estate industry is the pillar industry of the national economy, which is closely related to the growth of the economy and the people's livelihood, and relates to the development of the national economy and the stability of the society. But since 2010, The state has successively introduced "high-pressure policies" in an attempt to suppress the bubble profits generated by the real estate industry and ease the contradiction between supply and demand. As a result, the real estate industry is facing a severe market and policy environment. How to survive smoothly is a difficult problem that most real estate listed companies face, and M & A transaction becomes an important channel to help them tide over the difficulties. One of the prerequisites of whether the transaction can be realized is whether the result of enterprise value evaluation is reasonable or not. That is, whether or not the evaluation value reflects the actual value of the evaluated enterprise. However, in the M & A transactions of the listed real estate companies, it is often accompanied by a higher appreciation of assets evaluation. In order to improve the confidence of the assets evaluation results of the real estate enterprises, In order to support the healthy development of M & A transactions in the real estate market, it is necessary to study systematically the value added degree of assets evaluation results of real estate enterprises. This paper takes the case of real estate listed companies in China from 2001 to 2011 as the background. By combining quantitative analysis with qualitative analysis, this paper makes an empirical study on the evaluation value added of listed real estate companies in China, which provides a reference for the scientific evaluation of assets. The first part of the article is the introduction. This paper mainly introduces the significance and background of the selected topic, reviews the relevant research on the evaluation value added degree of domestic and foreign scholars in recent years, puts forward the research content and research method of this paper; the second part is the theoretical research of the evaluation value added degree. The purpose is to do a good theoretical foundation for the empirical research. The third part describes the current situation of assets evaluation of listed real estate companies in China. The 4th part is an empirical study on the evaluation value added of real estate listed companies from 2001 to 2011. The method of factor analysis and correlation analysis is used to verify the empirical explanation of the factors that constitute the evaluation value added rate. The 5th part is the direction of the countermeasure and further research, and puts forward the countermeasures and suggestions to improve the equity of the real estate listed company's assets evaluation, and points out the deficiency of this paper and the direction of the following research.
【學(xué)位授予單位】：首都經(jīng)濟貿(mào)易大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F299.233.4

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