基于模糊理論的商業(yè)地產(chǎn)投資風(fēng)險(xiǎn)評(píng)價(jià)研究
本文選題:商業(yè)地產(chǎn) + 投資風(fēng)險(xiǎn); 參考:《湖南工業(yè)大學(xué)》2013年碩士論文
【摘要】:近年來(lái),隨著我國(guó)經(jīng)濟(jì)結(jié)構(gòu)轉(zhuǎn)型、城市化進(jìn)程推進(jìn)、居民可支配收入持續(xù)增長(zhǎng)、消費(fèi)結(jié)構(gòu)優(yōu)化升級(jí)以及住宅地產(chǎn)國(guó)家宏觀調(diào)控政策緊密出臺(tái)等多重效應(yīng)下,作為房地產(chǎn)重要組成部分的商業(yè)地產(chǎn)正成為諸多房地產(chǎn)開發(fā)企業(yè)爭(zhēng)相轉(zhuǎn)型的領(lǐng)域。自2010年以來(lái),我國(guó)主要的房地產(chǎn)開發(fā)企業(yè)均公布了商業(yè)地產(chǎn)投資發(fā)展戰(zhàn)略,大量資金涌入商業(yè)地產(chǎn)投資領(lǐng)域,成為國(guó)民經(jīng)濟(jì)新的投資熱點(diǎn)。然而,商業(yè)地產(chǎn)投資具有高度綜合性、高度關(guān)聯(lián)性、投資額度大、開發(fā)周期長(zhǎng)等特點(diǎn),是一項(xiàng)高收益、高風(fēng)險(xiǎn)的投資活動(dòng)。因此,在我國(guó)相關(guān)理論和政策還不夠完善的情況下,進(jìn)行商業(yè)地產(chǎn)投資風(fēng)險(xiǎn)分析與評(píng)價(jià)問(wèn)題的研究是十分必要的,具有重要的理論和現(xiàn)實(shí)意義。 本文在借鑒國(guó)內(nèi)外房地產(chǎn)行業(yè)投資風(fēng)險(xiǎn)研究相關(guān)理論的基礎(chǔ)上,界定了商業(yè)地產(chǎn)與商業(yè)地產(chǎn)投資的概念。從開發(fā)商的角度出發(fā),對(duì)我國(guó)商業(yè)地產(chǎn)投資全過(guò)程的風(fēng)險(xiǎn)因素分階段進(jìn)行了識(shí)別。通過(guò)專家調(diào)查法初選出風(fēng)險(xiǎn)評(píng)價(jià)指標(biāo),并在指標(biāo)重要性篩選與指標(biāo)體系設(shè)置原則的基礎(chǔ)上,構(gòu)建出商業(yè)地產(chǎn)投資風(fēng)險(xiǎn)的評(píng)價(jià)指標(biāo)體系。鑒于評(píng)價(jià)體系的多層次復(fù)雜性,,評(píng)價(jià)指標(biāo)難以定量化等特點(diǎn),綜合分析各評(píng)價(jià)方法的優(yōu)缺點(diǎn)后,選擇將層次分析法和模糊綜合評(píng)價(jià)法相結(jié)合,以模糊理論為基礎(chǔ)構(gòu)建出模糊層次綜合評(píng)價(jià)模型。最后,以福州蘇寧廣場(chǎng)項(xiàng)目為例,驗(yàn)證了模型的合理可行性,并從風(fēng)險(xiǎn)管理的角度出發(fā),提出商業(yè)地產(chǎn)投資風(fēng)險(xiǎn)防范與控制的具體措施。
[Abstract]:In recent years, with the transformation of economic structure, the advancement of urbanization, the continuous growth of disposable income of residents, the optimization and upgrading of consumption structure and the tight introduction of macro-control policies for residential real estate, and so on, As an important part of real estate, commercial real estate is becoming a field of transformation for many real estate development enterprises. Since 2010, the major real estate development enterprises in China have announced the development strategy of commercial real estate investment, and a large number of funds have poured into the commercial real estate investment field, which has become a new investment hot spot in the national economy. However, commercial real estate investment has the characteristics of high synthesis, high correlation, large investment quota and long development cycle. It is a high return and high risk investment activity. Therefore, under the condition that the relevant theories and policies of our country are not perfect, it is very necessary to study the risk analysis and evaluation of commercial real estate investment, which has important theoretical and practical significance. This paper defines the concept of commercial real estate and commercial real estate investment based on the theory of investment risk in real estate industry at home and abroad. From the point of view of developers, the risk factors of the whole process of commercial real estate investment in China are identified in stages. The risk evaluation index is selected by expert investigation method, and the evaluation index system of commercial real estate investment risk is constructed on the basis of index importance screening and index system setting principle. In view of the multi-level complexity of the evaluation system and the difficulty of quantifying the evaluation index, the advantages and disadvantages of each evaluation method are comprehensively analyzed, and the AHP and the fuzzy comprehensive evaluation method are selected to combine. On the basis of fuzzy theory, a comprehensive evaluation model of fuzzy hierarchy is constructed. Finally, taking Fuzhou Su Ning Square Project as an example, the reasonable feasibility of the model is verified, and from the point of view of risk management, the concrete measures to prevent and control the risk of commercial real estate investment are put forward.
【學(xué)位授予單位】:湖南工業(yè)大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2013
【分類號(hào)】:F299.23
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