本文選題：大同房地產(chǎn)公司 + 融資渠道��； 參考：《成都理工大學(xué)》2013年碩士論文

【摘要】：房地產(chǎn)行業(yè)是資金密集型行業(yè),資金和土地是房地產(chǎn)開(kāi)發(fā)的兩條腿,如果說(shuō)土地資源是房地產(chǎn)開(kāi)發(fā)的命脈,那么資金就是房地產(chǎn)開(kāi)發(fā)的血液。沒(méi)有資金,就不會(huì)有房地產(chǎn)開(kāi)發(fā),土地可以用資金去拿到,資金是房地產(chǎn)項(xiàng)目成功開(kāi)發(fā)的關(guān)鍵。由此可見(jiàn),選擇合適的融資渠道,取得穩(wěn)定的資金支持,對(duì)房地產(chǎn)企業(yè)的發(fā)展具有重要的意義。本文研究具有的現(xiàn)實(shí)意義為：針對(duì)大同房地產(chǎn)公司的特點(diǎn),研究適合的融資渠道,拓寬融資渠道以及規(guī)范管理公司融資渠道選擇；根據(jù)不同的融資方式,找出共性元素,進(jìn)行分析,研究適合企業(yè)融資策略,為企業(yè)資金管理和資金籌集提供借鑒,通過(guò)后期不斷總結(jié),達(dá)到增強(qiáng)融資經(jīng)濟(jì)性目的；引入融資風(fēng)險(xiǎn)分析和融資決策分析,評(píng)價(jià)各種融資風(fēng)險(xiǎn)對(duì)企業(yè)的影響程度,為融資方案的實(shí)施和保險(xiǎn)提供條件和支持,使得融資管理更加系統(tǒng)和科學(xué)。本文以大同房地產(chǎn)開(kāi)發(fā)有限公司的融資為例展開(kāi)分析,所得結(jié)論及文章的成果如下：(1)從實(shí)例項(xiàng)目的動(dòng)、靜態(tài)盈利分析來(lái)看,項(xiàng)目稅前、稅后全部投資凈現(xiàn)值與稅后資本金投資凈現(xiàn)值均大于零；內(nèi)部收益率均大于基準(zhǔn)收益率和貸款利率；每年累計(jì)盈余資金大于零,故從盈利能力和償債能力分析來(lái)看,該項(xiàng)目是可行的。項(xiàng)目的投資利潤(rùn)較高,具備良好的經(jīng)濟(jì)效益,為項(xiàng)目的融資奠定了基礎(chǔ),大同房地產(chǎn)公司應(yīng)根據(jù)項(xiàng)目開(kāi)發(fā)的進(jìn)度及資金需求計(jì)劃選擇合適合作開(kāi)發(fā)的融資渠道。(2)大同房地產(chǎn)公司具備法人資格,項(xiàng)目融資條件符合銀行貸款要求。融資渠道的償還風(fēng)險(xiǎn)將對(duì)大同房地產(chǎn)公司投資的該項(xiàng)目進(jìn)展產(chǎn)生決定性的影響。利率風(fēng)險(xiǎn)表現(xiàn)在加息導(dǎo)致融資成本提高的同時(shí),投資利潤(rùn)下降,銷(xiāo)售回款放緩。還有面臨著國(guó)家嚴(yán)厲的宏觀調(diào)控政策不斷出臺(tái)的政策風(fēng)險(xiǎn)以及預(yù)售樓款回籠的風(fēng)險(xiǎn),因此,大同房地產(chǎn)公司應(yīng)未雨綢繆,及早做好銷(xiāo)售預(yù)測(cè)計(jì)劃,根據(jù)市場(chǎng)環(huán)境調(diào)整銷(xiāo)售價(jià)格,促使資金盡快回籠。(3)大同房地產(chǎn)公司應(yīng)根據(jù)所處的融資環(huán)境,結(jié)合大同房地產(chǎn)公司自身的企業(yè)情況,以預(yù)測(cè)出的資金需求量為基礎(chǔ),分析出大同公司可以采用的融資方式,制定幾種適合大同房地產(chǎn)公司的融資方式組合方案,并進(jìn)行可行性的分析和指導(dǎo)。并分別根據(jù)住宅、別墅、高檔住宅區(qū)、經(jīng)濟(jì)適用房、廉租房、保障性住房等,選擇合理的融資渠道。積極采用開(kāi)發(fā)商賣(mài)方信貸、合作開(kāi)發(fā)、夾層融資、信托融資、工程轉(zhuǎn)包融資、獲得外單位投資等不被大型房地產(chǎn)企業(yè)壟斷的方式進(jìn)行融資。合作融資開(kāi)發(fā)模式不僅可以使得大同房地產(chǎn)公司獲得資金而且可以保證項(xiàng)目按期開(kāi)工建設(shè),同時(shí)可降低融資成本但是要做好合作開(kāi)發(fā)模式的風(fēng)險(xiǎn)識(shí)別與預(yù)防。創(chuàng)新大同房地產(chǎn)公司的融資渠道應(yīng)采用完善內(nèi)部治理結(jié)構(gòu),加強(qiáng)科學(xué)管理,建立長(zhǎng)期銀企合作關(guān)系和提升資金使用效率等保障措施,只有這樣公司的企業(yè)經(jīng)營(yíng)和發(fā)展才能健康持續(xù)的發(fā)展。本文在以下二點(diǎn)略有創(chuàng)新：一是本文針對(duì)我國(guó)房地產(chǎn)融資的現(xiàn)狀,提出了大同房地產(chǎn)公司合作融資渠道策略及風(fēng)險(xiǎn)識(shí)別與控制的方法,具有較強(qiáng)的實(shí)踐指導(dǎo)意義；二是在查閱了大量有關(guān)房地產(chǎn)的法律、政策文件的基礎(chǔ)上,提出以預(yù)測(cè)出的資金需求量為基礎(chǔ),分析出大同公司可以采用的融資方式,制定幾種適合大同房地產(chǎn)公司的融資方式組合方案,并進(jìn)行可行性的分析和指導(dǎo)。并分別根據(jù)住宅、別墅、高檔住宅區(qū)、經(jīng)濟(jì)適用房、廉租房、保障性住房等,選擇合理的融資渠道等創(chuàng)新建議。
[Abstract]:The real estate industry is a capital intensive industry, capital and land are the two legs of real estate development. If land resources are the lifeblood of real estate development, then capital is the blood of real estate development. Without funds, there will be no real estate development. Land can be obtained with funds. Capital is the key to the successful development of real estate projects. Therefore, it is of great significance for the development of real estate enterprises to choose appropriate financing channels and obtain stable financial support. The practical significance of this study is to study the suitable financing channels, broaden the financing channels and standardize the choice of financing channels for the management of the Real Estate Company. The way of financing, finding common elements, analyzing, studying the financing strategies of enterprises, providing reference for the management of capital and raising funds for enterprises. Through the continuous summary of the later period, the purpose of enhancing the financing economy is to be achieved, and the financial risk analysis and financing decision analysis are introduced to evaluate the influence degree of various financing risks to the enterprises. The implementation and insurance provide conditions and support to make financing management more systematic and scientific. This paper takes the financing of Datong Real Estate Development Co., Ltd. as an example. The conclusions and the results of the article are as follows: (1) the net present value of all investment after tax, after tax, and after tax capital investment from the dynamic of the case project and the static profit analysis. The net present value is greater than zero, and the internal rate of return is greater than the benchmark yield and the loan interest rate; the accumulated surplus capital is more than zero each year. Therefore, from the analysis of profitability and solvency, the project is feasible. The investment profit of the project is high and has good economic benefit, which lays the foundation for the financing of the project, and Real Estate Company The appropriate cooperative development financing channels should be selected according to the project development progress and the fund demand. (2) Datong Real Estate Company has the legal person qualification, the financing conditions of the project meet the bank loan requirements. The repayment risk of the financing channel will have a decisive influence on the progress of the project invested by the Datong Real Estate Company. The interest rate risk performance At the same time, the increase in the cost of financing has led to the increase in the cost of financing, the decline in investment profits, the slowdown in the sales return, and the risk of the constant policy of the country's severe macro-control policies and the return of the funds for the sale of the buildings. Therefore, the Datong Real Estate Company should take precautions and make a good sales forecast plan as soon as possible and adjust the sales price according to the market environment. (3) Datong Real Estate Company should base on the financing environment of Datong itself, based on the enterprise situation of Datong Real Estate Company itself, based on the forecast of capital demand, analyze the financing way that Datong company can adopt, and make several financing mode combination scheme suitable for Datong Real Estate Company. According to the feasibility analysis and guidance, and according to the housing, villas, high-grade residential areas, affordable housing, low rent housing, affordable housing, and so on, choose reasonable financing channels. Actively adopt the developer seller credit, cooperative development, interlayer financing, trust financing, Engineering Subcontract financing, and obtain external unit investment and other large real estate enterprises are not monopolized. The cooperative financing development model can not only make the Datong Real Estate Company get funds but also guarantee the construction of the project on time, but also can reduce the cost of financing but should do well the risk identification and prevention of the cooperative development model. The innovation of the Real Estate Company's financing channel should be to improve the internal governance structure, Strengthening scientific management, establishing long-term bank enterprise cooperation and improving the efficiency of capital use, and so on. Only in this way can the company's business and development be healthy and sustained development. This article is slightly innovative at the following two points: first, this article aims at the current situation of real estate financing in China, and puts forward the cooperative financing channel policy of Datong Real Estate Company. The method of risk identification and control has a strong practical guiding significance. Two, on the basis of consulting a large number of laws and policies concerning real estate, based on the forecast of the demand for funds, this paper analyzes the financing methods that Datong company can adopt and sets up several financing methods suitable for the Real Estate Company in Datong. The plan, and the feasibility of the analysis and guidance, and according to housing, villas, high-end residential areas, affordable housing, low rent housing, affordable housing, and so on, the choice of reasonable financing channels and other innovative suggestions.
【學(xué)位授予單位】：成都理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F299.233.42

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本文編號(hào)：2009283