發(fā)布時間：2018-06-14 17:12

  本文選題：商業(yè)地產(chǎn) + 投資回收期�。� 參考：《太原理工大學(xué)》2013年碩士論文

【摘要】：研究商業(yè)地產(chǎn)離不開整個社會經(jīng)濟(jì)環(huán)境背景,離不開房地產(chǎn)業(yè)的大環(huán)境背景。在資金成本相同的情況下,在商業(yè)地產(chǎn)項(xiàng)目高投資回報率的驅(qū)使下,并且看到商業(yè)地產(chǎn)發(fā)展的可持續(xù)性,越來越多有遠(yuǎn)見的房地產(chǎn)開發(fā)商把投資方向從住宅地產(chǎn)轉(zhuǎn)向了商業(yè)地產(chǎn)項(xiàng)目。迫于政策的壓力,眾多開發(fā)商開始將投資重心從一線城市逐漸轉(zhuǎn)向了二三線城市。因?yàn)?二三線城市商業(yè)地產(chǎn)市場的調(diào)控力度較小,而且房價上升空間較大。這無疑給太原市的商業(yè)地產(chǎn)帶來新的機(jī)遇。本文就是在這樣的環(huán)境下對太原市商業(yè)地產(chǎn)投資回收期進(jìn)行研究,具有非常重要的社會價值和經(jīng)濟(jì)意義。 面對商業(yè)地產(chǎn)的很高的總價、較高的利潤率和開發(fā)風(fēng)險、很長的投資回收期的特點(diǎn),理性的投資者不愿意將大筆資金積壓在投資回收期較長的項(xiàng)目上。商業(yè)地產(chǎn)經(jīng)營業(yè)績的好壞會受到投資回收期長短的直接影響,即投資回收期短,資金循環(huán)周期就短,經(jīng)營效益就高,發(fā)展就快,分險��；反之,投資回收期長,資金循環(huán)周期就長,經(jīng)營效益就低,風(fēng)險加大。因此,投資回收期應(yīng)該是評判商業(yè)地產(chǎn)投資開發(fā)項(xiàng)目的一項(xiàng)主要經(jīng)濟(jì)指標(biāo)。本論文試圖從理論、方法以及應(yīng)用出發(fā),與商業(yè)地產(chǎn)的實(shí)際情況相結(jié)合,系統(tǒng)地探討商業(yè)地產(chǎn)投資回收期的理論、方法以及應(yīng)用體系,并用案例進(jìn)行了實(shí)證研究。本次研究是針對太原市的商業(yè)地產(chǎn)投資回收期進(jìn)行研究,目的是通過研究為太原市的商業(yè)地產(chǎn)發(fā)展提供一些指導(dǎo)和建議。 本論文主要對研究目的、研究意義及國內(nèi)外商業(yè)地產(chǎn)研究現(xiàn)狀進(jìn)行了綜述；對商業(yè)地產(chǎn)的基礎(chǔ)知識進(jìn)行了詳細(xì)的介紹,包括商業(yè)地產(chǎn)的概念、分類、特征以及發(fā)展；介紹了商業(yè)地產(chǎn)投資回收期的相關(guān)理論,包括投資回收期的定義、分類、計算公式、評價指標(biāo)、優(yōu)缺點(diǎn)以及應(yīng)用。在查閱大量資料和咨詢有關(guān)專家之后,將商業(yè)地產(chǎn)投資回收期的影響因素分類,并應(yīng)用層次分析法計算出各個影響因素相對于商業(yè)地產(chǎn)投資回收期的影響權(quán)重。以紅星美凱龍?zhí)觏?xiàng)目為例,從紅星美凱龍?zhí)觏?xiàng)目投產(chǎn)年開始算起,根據(jù)財務(wù)現(xiàn)金流量表求得靜態(tài)投資回收期和動態(tài)投資回收期,并將太原市的商業(yè)地產(chǎn)與全國的商業(yè)地產(chǎn)進(jìn)行比較。在總結(jié)本文研究內(nèi)容的基礎(chǔ)上,提出了本文的不足之處及以后商業(yè)地產(chǎn)的發(fā)展建議。
[Abstract]:The study of commercial real estate can not be separated from the background of the whole social and economic environment, and from the background of the real estate industry. At the same cost of capital, driven by the high rate of return on investment in commercial real estate projects, and seeing the sustainability of commercial real estate development, A growing number of visionary real estate developers have shifted their investment from residential to commercial real estate projects. Under the pressure of policy, many developers began to focus on investment from first-tier cities to second-and-third-tier cities. Because, second-and-third-tier city commercial real estate market regulation and control strength, and house price rise space is bigger. This undoubtedly brings new opportunities to commercial real estate in Taiyuan. In this environment, this paper studies the payback period of commercial real estate investment in Taiyuan, which has very important social value and economic significance. Faced with the high total price, high profit margin and development risk of commercial real estate, and the characteristics of long payback period, rational investors are unwilling to put a large amount of capital backlog on projects with long payback period. The business performance of commercial real estate is directly affected by the length of the investment payback period, that is, the investment payback period is short, the capital cycle is short, the operating efficiency is high, the development is fast and the risk is small; on the other hand, the investment payback period is long. The capital cycle is long, the management benefit is low, the risk increases. Therefore, the investment payback period should be a major economic indicator to judge commercial real estate investment and development projects. This paper attempts to discuss the theory, method and application system of commercial real estate investment payback period systematically from the perspective of theory, method and application, and make an empirical study with a case study. The purpose of this study is to provide some guidance and suggestions for the development of commercial real estate in Taiyuan. This paper summarizes the purpose, significance and current situation of commercial real estate research at home and abroad, introduces the basic knowledge of commercial real estate in detail, including the concept, classification, characteristics and development of commercial real estate. This paper introduces the relevant theories of commercial real estate investment payback period, including the definition, classification, calculation formula, evaluation index, advantages and disadvantages, and application of the investment payback period. After consulting a lot of information and consulting experts, the paper classifies the influencing factors of commercial real estate investment payback period, and calculates the influence weight of each influencing factor relative to the commercial real estate investment payback period by using the analytic hierarchy process (AHP). Taking the Hongxing Meikailong Taiyuan store project as an example, starting from the year the Hongxing Mei-kailong Taiyuan store project was put into operation, according to the statement of financial cash flow, the static investment payback period and the dynamic investment payback period were obtained. And the commercial real estate of Taiyuan city and national commercial real estate are compared. On the basis of summarizing the research content of this paper, the paper puts forward the deficiency of this paper and the development suggestion of commercial real estate in the future.
【學(xué)位授予單位】：太原理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F299.27

【參考文獻(xiàn)】

相關(guān)期刊論文 前9條

1 張莉;;淺談投資回收期的計算方法[J];管理科學(xué)文摘;2008年Z1期

2 王晶香,張雪梅;建設(shè)項(xiàng)目財務(wù)評價指標(biāo)——投資回收期淺析[J];建筑管理現(xiàn)代化;2004年02期

3 金峻炎;;房地產(chǎn)項(xiàng)目投資回收期的定量分析[J];價格理論與實(shí)踐;2009年08期

4 邵希娟;杜麗萍;;關(guān)于投資回收期法的探討[J];財會通訊(理財版);2007年01期

5 王琳;;商業(yè)地產(chǎn)與住宅地產(chǎn)開發(fā)的差異化研究[J];生產(chǎn)力研究;2008年17期

6 金峻炎;;房地產(chǎn)項(xiàng)目投資回收期影響因素分析[J];商場現(xiàn)代化;2009年16期

7 施金亮，丁仁才;動態(tài)投資回收期決策模型[J];上海大學(xué)學(xué)報(自然科學(xué)版);1996年06期

8 孫星;追加投資回收期法在互斥方案選優(yōu)中的實(shí)際應(yīng)用[J];上海會計;2002年03期

9 田豐;;商業(yè)地產(chǎn)快速發(fā)展中政府角色探討——以太原市為例[J];現(xiàn)代商業(yè);2007年30期

，

本文編號：2018290