本文關(guān)鍵詞： 房地產(chǎn)項(xiàng)目 信托產(chǎn)品 項(xiàng)目評(píng)價(jià)　出處：《昆明理工大學(xué)》2013年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：近年來(lái),房地產(chǎn)業(yè)對(duì)我國(guó)國(guó)民經(jīng)濟(jì)的影響口漸增大,行業(yè)性質(zhì)決定了其不斷增長(zhǎng)的資金需求,房地產(chǎn)企業(yè)大多仍是采用銀行貸款的方式進(jìn)行融資。但是,房地產(chǎn)行業(yè)通常需要一個(gè)較長(zhǎng)的過(guò)程才能實(shí)現(xiàn)銷(xiāo)售或租賃資金的回籠,同時(shí),由于房地產(chǎn)開(kāi)發(fā)成本高、開(kāi)發(fā)商自有資金一般低于20%等原因,資金短缺是開(kāi)發(fā)商長(zhǎng)期面臨的問(wèn)題。隨著房地產(chǎn)調(diào)控政策的持續(xù),我國(guó)實(shí)行適度從緊貨幣政策的背景下,銀行貸款趨于緊縮狀態(tài),房地產(chǎn)企業(yè)再次陷入融資無(wú)門(mén)的困境。為了應(yīng)對(duì)流動(dòng)性緊縮的信貸政策,提高銀行的資產(chǎn)收益率,各大商業(yè)銀行紛紛大量發(fā)行信托貸款類(lèi)理財(cái)產(chǎn)品。銀行聯(lián)手信托公司,將客戶(hù)的資金以理財(cái)產(chǎn)品的形式集中起來(lái)向優(yōu)質(zhì)企業(yè)客戶(hù)變相發(fā)放新貸款或者替換商業(yè)銀行的存量貸款。 房地產(chǎn)項(xiàng)目這樣資金需求大,自有資金占項(xiàng)目總投資的比例不高的項(xiàng)目更需要以項(xiàng)目評(píng)價(jià)結(jié)果作為向銀行融資的依據(jù)。商業(yè)銀行發(fā)行信托貸款類(lèi)理財(cái)產(chǎn)品同樣需要對(duì)企業(yè)客戶(hù)進(jìn)行嚴(yán)格的評(píng)級(jí)篩選,對(duì)貸款項(xiàng)目進(jìn)行全面評(píng)估,評(píng)判項(xiàng)目的可行性及經(jīng)濟(jì)效益,以降低貸款風(fēng)險(xiǎn)。 本文回顧了項(xiàng)目評(píng)價(jià)理論以及銀行信托貸款類(lèi)理財(cái)產(chǎn)品的相關(guān)理論,討論財(cái)務(wù)評(píng)價(jià)的理論和方法在房地產(chǎn)投資項(xiàng)目中的具體應(yīng)用問(wèn)題。本文以昆明螺螄灣國(guó)際商貿(mào)城三期工程建設(shè)為研究對(duì)象,以項(xiàng)目的市場(chǎng)需求、建設(shè)條件、建設(shè)規(guī)模、投資估算、項(xiàng)口經(jīng)濟(jì)評(píng)價(jià)等作為研究重點(diǎn),通過(guò)對(duì)調(diào)查收集的資料進(jìn)行整理、分析,采用定性分析與定量評(píng)估相結(jié)合、靜態(tài)分析與動(dòng)態(tài)分析相結(jié)合的方法,對(duì)財(cái)務(wù)評(píng)價(jià)指標(biāo)進(jìn)行了測(cè)算并對(duì)項(xiàng)口盈利能力指標(biāo)、償債能力指標(biāo)、不確定性分析進(jìn)行評(píng)價(jià),提出項(xiàng)目可能存在的風(fēng)險(xiǎn)因素；最后得出該項(xiàng)目的評(píng)價(jià)結(jié)論并提出規(guī)避風(fēng)險(xiǎn)的相關(guān)措施。 通過(guò)系統(tǒng)論證以及計(jì)算分析,本文最終提出了昆明螺獅灣國(guó)際商貿(mào)城三期信托項(xiàng)目評(píng)價(jià)研究結(jié)論,證明了該項(xiàng)目財(cái)務(wù)上可行,經(jīng)濟(jì)上合理,民生銀行可以開(kāi)展該信托貸款類(lèi)理財(cái)業(yè)務(wù),并將本理財(cái)產(chǎn)品銷(xiāo)售所匯集的資金投資于中豪置業(yè)公司。
[Abstract]:In recent years, the impact of real estate on our national economy has gradually increased, the nature of the industry determines its growing capital demand, real estate enterprises are still using bank loans to finance. The real estate industry usually needs a long process to realize the return of sales or rental funds. At the same time, because of the high cost of real estate development, the developer's own capital is generally lower than 20%. Capital shortage is a long-term problem faced by developers. With the persistence of real estate regulation and control policies, bank loans tend to tighten in the context of a tight monetary policy in China. In order to cope with tight liquidity credit policies and raise the return on assets of banks, the major commercial banks have issued a large number of trust and loan financial management products. Banks have joined hands with trust companies. The client's funds are pooled in the form of wealth management products to issue new loans or replace the stock loans of commercial banks to high-quality corporate customers in disguised form. Real estate projects have such a large demand for capital, Projects with small proportion of their own funds to the total investment of the project need to use the results of project evaluation as the basis for financing the banks. Commercial banks also need to carry out strict rating and screening of corporate customers when issuing trust and loan financial management products. To evaluate the feasibility and economic benefit of the loan project and reduce the risk of the loan. This paper reviews the theory of project evaluation and the related theories of bank trust and loan financial products. This paper discusses the application of the theory and method of financial evaluation in real estate investment projects. This paper takes the construction of the third phase of Luojiawan International Trade City in Kunming as the research object, taking the market demand, construction conditions and construction scale of the project as the research object. Investment estimation, economic evaluation and so on, through sorting out and analyzing the data collected from the investigation, adopting the methods of combining qualitative analysis with quantitative evaluation, static analysis with dynamic analysis, The financial evaluation index is calculated, and the profitability index, solvency index and uncertainty analysis are evaluated, and the possible risk factors of the project are put forward. Finally, the evaluation conclusions of the project and the relevant measures to avoid risk are put forward. Through systematic demonstration and calculation and analysis, this paper finally puts forward the evaluation and research conclusions of the third phase trust project of Kunming Luoshiwan International Trade City, which proves that the project is financially feasible and economically reasonable. Minsheng Bank can carry out the trust and loan business and invest the funds collected in the sale of this wealth management product in Zhonghao Home purchase Company.
【學(xué)位授予單位】：昆明理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F832.33;F832.49

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 李e，

本文編號(hào)：1538196