本文選題：房地產(chǎn)開(kāi)發(fā)企業(yè) + 資本結(jié)構(gòu)優(yōu)化��； 參考：《哈爾濱工業(yè)大學(xué)》2014年碩士論文

【摘要】：改革開(kāi)發(fā)以來(lái)，房地產(chǎn)行業(yè)的快速發(fā)展令其他行業(yè)望塵莫及，房地產(chǎn)開(kāi)發(fā)企業(yè)數(shù)量也迅速增長(zhǎng)，為我國(guó)經(jīng)濟(jì)發(fā)展貢獻(xiàn)了巨大力量。房地產(chǎn)業(yè)屬于資金密集型行業(yè)，且在其快速發(fā)展中也存在諸多問(wèn)題，經(jīng)營(yíng)者做出的融資渠道及資本結(jié)構(gòu)組合方案的選擇對(duì)于企業(yè)的長(zhǎng)遠(yuǎn)發(fā)展越來(lái)越重要。因此為房地產(chǎn)開(kāi)發(fā)企業(yè)構(gòu)建一個(gè)科學(xué)有效的資本結(jié)構(gòu)優(yōu)化決策過(guò)程，對(duì)促進(jìn)整個(gè)行業(yè)的健康發(fā)展具有非常重大的意義。 通過(guò)國(guó)際和國(guó)內(nèi)資本結(jié)構(gòu)與資本市場(chǎng)的研究分析，本文挖掘了我國(guó)房地產(chǎn)開(kāi)發(fā)企業(yè)資本結(jié)構(gòu)存在的問(wèn)題，從兩個(gè)不同層面構(gòu)建了資本結(jié)構(gòu)優(yōu)化決策過(guò)程。從行業(yè)層面通過(guò)分類研究不同規(guī)模房地產(chǎn)開(kāi)發(fā)企業(yè)資本結(jié)構(gòu)的現(xiàn)狀，，找出相應(yīng)的最優(yōu)資本結(jié)構(gòu)區(qū)間，為企業(yè)進(jìn)行準(zhǔn)確的行業(yè)定位提供了決策參考；從房地產(chǎn)開(kāi)發(fā)企業(yè)個(gè)體層面，充分考慮了影響房地產(chǎn)開(kāi)發(fā)企業(yè)資本結(jié)構(gòu)的內(nèi)外部因素，利用融資契機(jī)優(yōu)化資本結(jié)構(gòu)，構(gòu)建了熵權(quán)理論資本結(jié)構(gòu)優(yōu)化模型。 文章立足于國(guó)內(nèi)外資本結(jié)構(gòu)優(yōu)化相關(guān)理論，充分考慮了我國(guó)房地產(chǎn)開(kāi)發(fā)企業(yè)特色，通過(guò)深入分析影響房地產(chǎn)開(kāi)發(fā)企業(yè)資本結(jié)構(gòu)的相關(guān)因素、資本結(jié)構(gòu)與融資方式關(guān)系、資本結(jié)構(gòu)優(yōu)化目標(biāo)等，對(duì)上市房地產(chǎn)開(kāi)發(fā)企業(yè)分類研究，利用統(tǒng)計(jì)分析法得出使不同規(guī)模企業(yè)綜合業(yè)績(jī)優(yōu)良的最優(yōu)資本結(jié)構(gòu)區(qū)間，以此作為資本結(jié)構(gòu)優(yōu)化決策過(guò)程的前提。引入熵權(quán)系數(shù)、多目標(biāo)專家群決策、最大熵技術(shù)、總體偏差法原理構(gòu)建了房地產(chǎn)開(kāi)發(fā)企業(yè)資本結(jié)構(gòu)優(yōu)化模型，對(duì)案例企業(yè)資本結(jié)構(gòu)進(jìn)行了優(yōu)化，并且從房地產(chǎn)開(kāi)發(fā)企業(yè)個(gè)體角度出發(fā)，深入剖析了改善資本結(jié)構(gòu)的途徑，為房地產(chǎn)開(kāi)發(fā)企業(yè)更好地結(jié)合公司的實(shí)際情況，把握經(jīng)濟(jì)發(fā)展規(guī)律，決策出合理的資本結(jié)構(gòu)提供參考。
[Abstract]:Since the reform and development, the rapid development of the real estate industry has left other industries out of reach, and the number of real estate development enterprises has also increased rapidly, which has contributed a great deal to the economic development of our country. Real estate industry is a capital-intensive industry, and there are many problems in its rapid development. The choice of financing channel and capital structure combination scheme made by managers is more and more important for the long-term development of enterprises. Therefore, it is of great significance to construct a scientific and effective capital structure optimization decision-making process for real estate development enterprises to promote the healthy development of the whole industry. Through the research and analysis of international and domestic capital structure and capital market, this paper excavates the problems existing in the capital structure of Chinese real estate development enterprises, and constructs the capital structure optimization decision-making process from two different levels. This paper studies the present situation of capital structure of different scale real estate development enterprises from the industry level, finds out the corresponding optimal capital structure interval, provides the decision reference for the enterprise to carry on the accurate profession orientation; from the real estate development enterprise individual level, Considering the internal and external factors that affect the capital structure of real estate development enterprises, the paper optimizes the capital structure by means of financing opportunity, and constructs the optimization model of capital structure based on entropy weight theory. Based on the relevant theories of capital structure optimization at home and abroad, this paper fully considers the characteristics of real estate development enterprises in China, and through in-depth analysis of the related factors affecting the capital structure of real estate development enterprises, the relationship between capital structure and financing mode. Based on the research on the classification of listed real estate development enterprises, the optimal capital structure interval of different scale enterprises is obtained by statistical analysis, which is the premise of the capital structure optimization decision-making process. This paper introduces entropy weight coefficient, multi-objective expert group decision, maximum entropy technology and the principle of total deviation method to construct the capital structure optimization model of real estate development enterprises, and optimizes the capital structure of the case enterprises. From the point of view of individual real estate development enterprises, this paper deeply analyzes the ways to improve the capital structure, which provides a reference for the real estate development enterprises to better combine the actual situation of the company, grasp the laws of economic development, and make a reasonable capital structure decision.
【學(xué)位授予單位】：哈爾濱工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F299.233.42

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