發(fā)布時(shí)間：2017-12-31 18:15

  本文關(guān)鍵詞：我國(guó)房地產(chǎn)上市公司經(jīng)營(yíng)效率研究　出處：《湖南大學(xué)》2014年碩士論文　論文類(lèi)型：學(xué)位論文

  更多相關(guān)文章： 房地產(chǎn)上市公司 經(jīng)營(yíng)效率 影響因素

【摘要】：房地產(chǎn)業(yè)是我國(guó)國(guó)民經(jīng)濟(jì)重要的產(chǎn)業(yè)部門(mén)，在國(guó)民經(jīng)濟(jì)中占有舉足輕重的地位。房地產(chǎn)上市公司在行業(yè)發(fā)展中起著主導(dǎo)作用，是房地產(chǎn)行業(yè)的主體。因此，房地產(chǎn)上市公司經(jīng)營(yíng)效率的高低不僅關(guān)系到的公司的成敗，還主導(dǎo)著房地產(chǎn)行業(yè)的興衰，進(jìn)而影響到國(guó)民經(jīng)濟(jì)整體。近年來(lái)，我國(guó)政府為抑制房?jī)r(jià)過(guò)高實(shí)施了一系列宏觀調(diào)控政策，再加上金融危機(jī)的沖擊，房地產(chǎn)上市公司面臨著相當(dāng)不利的宏觀環(huán)境，其經(jīng)營(yíng)效率會(huì)受到何種影響，以及如何維持和進(jìn)一步提高其經(jīng)營(yíng)效率都是急需分析并解決的問(wèn)題。 本文首先運(yùn)用數(shù)據(jù)包絡(luò)分析方法對(duì)55家房地產(chǎn)上市公司的經(jīng)營(yíng)效率進(jìn)行了實(shí)證測(cè)度，從公司組織形式、上市年限和所處地域三個(gè)角度將經(jīng)營(yíng)效率結(jié)果進(jìn)行了分類(lèi)對(duì)比，得到了民營(yíng)公司較國(guó)有公司綜合經(jīng)營(yíng)效率優(yōu)勢(shì)不大但效率波動(dòng)較小、上市年限較長(zhǎng)的公司綜合經(jīng)營(yíng)效率高于上市年限較短的公司、非一線城市公司較一線城市公司綜合經(jīng)營(yíng)效率更高且波動(dòng)較小的經(jīng)營(yíng)效率現(xiàn)狀表現(xiàn)。然后運(yùn)用Tobit回歸模型，對(duì)我國(guó)房地產(chǎn)上市公司經(jīng)營(yíng)效率的內(nèi)部、外部因素進(jìn)行了實(shí)證檢驗(yàn)，，得到了經(jīng)營(yíng)效率受公司成本管理水平、業(yè)績(jī)管理水平、運(yùn)營(yíng)管理水平、公司規(guī)模、宏觀經(jīng)濟(jì)發(fā)展情況和宏觀經(jīng)濟(jì)政策影響的結(jié)論。 房地產(chǎn)上市公司的健康發(fā)展關(guān)系國(guó)計(jì)民生，越來(lái)越受到社會(huì)各界的廣泛關(guān)注。公司自身應(yīng)加強(qiáng)內(nèi)部管理、積極擴(kuò)張規(guī)模努力提升經(jīng)營(yíng)效率。同時(shí)，政府應(yīng)建立健全長(zhǎng)效控制機(jī)制、鼓勵(lì)國(guó)有房地產(chǎn)上市公司進(jìn)行并購(gòu)重組擴(kuò)大規(guī)模，為房地產(chǎn)上市公司的經(jīng)營(yíng)效率提升提供政策支持。
[Abstract]:The real estate industry is an important industrial sector of our national economy and plays a pivotal role in the national economy. The listed real estate companies play a leading role in the development of the industry and are the main body of the real estate industry. The operating efficiency of listed real estate companies is not only related to the success or failure of the company, but also dominates the rise and fall of the real estate industry, and then affects the national economy as a whole in recent years. Our government has implemented a series of macro-control policies in order to curb the excessive housing prices, coupled with the impact of the financial crisis, the listed real estate companies are faced with a rather unfavorable macro environment, how will their operational efficiency be affected. And how to maintain and further improve its operating efficiency is an urgent problem to be analyzed and solved. This paper first uses the data envelopment analysis method to measure the operating efficiency of 55 real estate listed companies, from the corporate organization. The operating efficiency results are classified and compared from the three angles of the listed years and the region, and the results show that the comprehensive operating efficiency of the private companies is less than that of the state-owned companies, but the fluctuation of the efficiency is relatively small. The comprehensive operating efficiency of the long listed company is higher than that of the short listed company. Non-first-tier city companies are more efficient and less volatile than first-tier city companies. Then the Tobit regression model is used to analyze the internal management efficiency of real estate listed companies in China. The empirical test of external factors shows that the operating efficiency is influenced by the level of cost management, performance management, operation management, company size, macroeconomic development and macroeconomic policies. The healthy development of listed real estate companies is more and more concerned by all walks of life. The company itself should strengthen internal management, actively expand the scale of efforts to improve the efficiency. At the same time. The government should establish and improve the long-term control mechanism, encourage the state-owned real estate listed companies to conduct mergers and acquisitions, expand the scale, and provide policy support for the real estate listed companies to improve their operating efficiency.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F299.233.4

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