Y房地產(chǎn)公司融資策略研究
本文關(guān)鍵詞: 房地產(chǎn)企業(yè) 融資現(xiàn)狀 融資方式 策略 出處:《廣西大學(xué)》2014年碩士論文 論文類型:學(xué)位論文
【摘要】:房地產(chǎn)業(yè)是資金密集型產(chǎn)業(yè),對房地產(chǎn)開發(fā)企業(yè)而言,必須有強(qiáng)大的融資能力才能在激烈的競爭中生存。近十年來,由于政府的宏觀調(diào)控,房地產(chǎn)業(yè)的融資環(huán)境日益趨緊。在這樣的情況下,市場出現(xiàn)了分化。大型企業(yè)依靠與銀行的長期合作關(guān)系度過難關(guān),而中小企業(yè)則紛紛陷入困境。在優(yōu)勝劣汰的同時(shí),行業(yè)的競爭性被削弱,長期來看,不利于房地產(chǎn)業(yè)的健康發(fā)展。 本文以上述客觀事實(shí)為背景,運(yùn)用文獻(xiàn)回顧和案例分析的方法,以金融市場風(fēng)險(xiǎn)和收益相均衡的基本原理為理論基礎(chǔ),研究如何優(yōu)化中小房地產(chǎn)業(yè)的融資策略,提出能同時(shí)符合投資方和融資方的風(fēng)險(xiǎn)偏好和收益期望的融資方案,以提高融資的成功可能性。本文首先對關(guān)于企業(yè)融資的經(jīng)典理論和相關(guān)實(shí)證研究進(jìn)行了回顧,接著對我國房地產(chǎn)市場和房地產(chǎn)金融的發(fā)展情況進(jìn)行了分析,并對房地產(chǎn)企業(yè)的傳統(tǒng)融資渠道進(jìn)行了介紹,在此基礎(chǔ)上,指出中小房地產(chǎn)企業(yè)所面臨的融資難題及成因;然后,本文以Y公司這個(gè)中小房地產(chǎn)企業(yè)作為典型案例,對其經(jīng)營模式和資金需求的特點(diǎn)進(jìn)行分析,指出其融資困境的成因,探討其可能采取的融資策略和融資途徑,并提出具體的融資方案設(shè)計(jì),為解決融資問題提供新的思路。 本文所論的中小房地產(chǎn)企業(yè)融資問題,雖然前人已做過不少的研究。但是進(jìn)入21世紀(jì)以來,金融領(lǐng)域和產(chǎn)業(yè)領(lǐng)域都有了進(jìn)一步的發(fā)展,出現(xiàn)很多以前不同的模式和工具。將這些最新發(fā)展納入研究之中,是本文的一個(gè)亮點(diǎn)。
[Abstract]:Real estate industry is a capital-intensive industry, for real estate development enterprises, must have a strong financing ability to survive in the fierce competition. In the past decade, due to the macro-control of the government. The financing environment of the real estate industry is becoming more and more tight. Under such circumstances, the market has become divided. Large enterprises rely on long-term cooperative relationship with the banks to tide over the difficulties. Meanwhile, the competitiveness of the industry is weakened, which is not conducive to the healthy development of the real estate industry in the long run. Based on the above objective facts, this paper uses the methods of literature review and case analysis, based on the basic principle of equilibrium of risk and income in financial market. This paper studies how to optimize the financing strategy of small and medium-sized real estate industry, and puts forward a financing scheme that can meet the risk preference and income expectation of both investors and financiers. In order to improve the possibility of financing, this paper first reviews the classical theory and related empirical research on corporate financing, and then analyzes the development of real estate market and real estate finance in China. On the basis of the introduction of the traditional financing channels of the real estate enterprises, the paper points out the financing problems and causes of the small and medium-sized real estate enterprises. Then, this paper takes Y Company, a small and medium-sized real estate enterprise, as a typical case, analyzes the characteristics of its business model and capital demand, and points out the causes of its financing difficulties. This paper probes into the possible financing strategies and approaches, and puts forward the concrete financing scheme design, which provides a new way to solve the financing problem. Although many researches have been done on the financing of small and medium-sized real estate enterprises in this paper, since 21th century, there has been further development in the field of finance and industry. There are many different models and tools in the past. It is one of the highlights of this paper to incorporate these latest developments into the research.
【學(xué)位授予單位】:廣西大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F299.233.42
【共引文獻(xiàn)】
相關(guān)博士學(xué)位論文 前2條
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相關(guān)碩士學(xué)位論文 前10條
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