中国房地产行业融资面临的问题及对策研究(硕士)(论文32000字)
摘 要
房地产业是我国国民经济发展的支柱产业，近10年来房地产业的发展大大的带动了我国经济发展，带动了第三产业的发展，在一定程度上解决了就业艰难、住房需求大的问题。但是相比较于发达国家的金融市场和金融政策，我国的房地产业金融市场还存在着很大的差距，房地产融资体系还不够健全，所以研究我国房地产的融资具有非常重要的理论意义和现实意义，可以很好的解决我姑房地产融资的当前问题，以促使其能够健康的发展。
房地产企业经营范围广、投资规模大、所需的投资金额数目大，房地产企业的自筹资金往往满足不了企业的生产和再生产的资金链，不能有效的支持企业的健康发展。融资是解决企业在投资过程中资金短缺的一个很重要的通道，目前我国的房地产企业的融资方式几乎大都趋近于多元化，其融资方式主要包括：银行贷款、房地产信托、债券融资、股权融资、房地产基金等融资方式，虽然房地产的融资方式是趋向于多元化的发展，但是其融资方式之间的相互协调等问题依然不能很好的解决。
本文首先对我国的房地产融资进行了概述，在资本结构理论和有效市场理论的前提下，并就目前我国房地产业存在的一些问题进行了阐述，对目前我国房地产企业的融资环境进行了SWOT分析，同时还对依然存在这些问题的原因进行了分析，对典型的A房地产企业进行了案例分析，分析了A房地产企业存在问题、存在问题的原因以及提出了相应的对策和建议；针对目前我国房地产业存在的问题和问题原因，提出了从有效开拓多种融资渠道、完善地产行业融资政策体系、提高房地产企业融资能力三个方面进行论述，从而我国的提出我国房地产业融资的建议和意见。
本文旨在从理论和房地产实践相结合的方法，减轻我国房地产企业融资困哪和融资风险高的问题，为房地产企业的可持续发展提供一个新的思路和新的途径，以实现企业融资的最优化、最低成本、最低风险的选择。
本文的创新点主要是针对我国的房地产企业存在的问题在融资政策、融资体系、融资能力进行了分析和论述。
关键词：房地产行业；融资问题；SWOT分析；资本结构
Real estate industry is facing financing problems and countermeasures of China
ABSTACT
The real estate industry is the pillar industry of China's national economy , the real estate industry for nearly 10 years, greatly boosted the development of China's economic development , led to the development of the tertiary industry , to a certain extent, solve the difficult employment , housing demand big problem . However, compared to the developed financial markets and monetary policy , China's real estate financial market , there are still a large gap between the real estate financing systems are still inadequate , so the study of real estate financing has very important theoretical and practical significance , regardless , I can solve the current problems of real estate financing in order to be able to promote their healthy development .
Real estate companies operating a wide range of large-scale investment , the amount of investment required large number of self-funded real estate companies often can not meet the production and reproduction of capital chain , can not effectively support the healthy development of enterprises. Corporate finance is to solve the shortage of funds in the investment process is a very important channel of China's current real estate business financing approaches most nearly to diversify its financing include: bank loans, real estate trusts, bond financing , equity financing , real estate funds and other financing, although the real estate financing is geared towards diversification, but coordination between its financing and other issues are still not well resolved.
Firstly, the country 's real estate financing are outlined under the premise of the capital structure theory and the efficient market theory, and on some of the issues currently exist in China's real estate elaborated on the current financing of the real estate business environment SWOT analysis , but also on the causes of these problems still exist were analyzed on a typical a real estate enterprises in the case studies, analyzes a real estate business is problematic because the existence of the problem and put forward the corresponding countermeasures and suggestions ; against the current Chinese real estate causes of the problems and issues presented from the effective explore various financing channels , improve the policy system of financing the real estate industry , real estate corporate finance capabilities to improve three aspects are discussed , so our suggestions and views of real estate financing.
This paper aims to combine theory and real estate practice methods to reduce the difficulties which our real estate corporate finance issues and high financing risk for the sustainable development of the real estate business to provide a new way of thinking and new ways to achieve the best corporate finance optimization, lowest cost , lowest risk option.
Innovation of this paper is mainly for China's real estate business problems in financing policies , financing systems , financing capability analyzed and discussed .
Keywords：The real estate industry; financing; SWOT analysis; capital structure
目 录
摘 要 - 1 -
ABSTACT - 2 -
1绪论 - 1 -
1.1 选题背景与研究意义 - 1 -
1.1.1 选题背景 - 1 -
1.1.2 研究目的及意义 - 1 -
1.2 文献综述 - 2 -
1.3 研究方法与内容 - 2 -
1.3.1 研究内容 - 2 -
1.3.2 研究方法 - 5 -
2 房地产行业融资概念及理论基础 - 5 -
2.1 房地产行业融资概述 - 5 -
2.1.1 融资及房地产融资界定 - 5 -
2.1.2 房地产融资特征及原则 - 6 -
2.2 房地产行业融资理论基础 - 7 -
2.2.1 资本结构理论 - 7 -
2.2.2 有效市场理论 - 8 -
3 中国房地产融资现状及存在问题分析 - 9 -
3.1 中国房地产业发展状况 - 9 -
3.1.1 房地产行业融资发展历程 - 9 -
3.1.2 房地产市场供需情况分析 - 11 -
3.1.3 房地产行业格局分析 - 12 -
3.2 中国房地产融资现状分析 - 14 -
3.2.1 融资环境SWOT分析 - 14 -
3.2.2 主要的融资模式分析 - 15 -
3.3 中国房地产行业融资中存在问题及原因分析 - 16 -
3.3.1 融资过分依赖银行贷款，渠道单一 - 16 -
3.3.2 融资中介服务机构缺乏，体系不完善 - 17 -
3.3.3 融资金融监管力度不够，调控缺失 - 18 -
4 案例分析——以A房地产开发企业为例 - 19 -
4.1 A房地产公司融资基本情况1800 - 19 -
4.1.1 企业简介 - 19 -
4.1.2 企业融资发展历程 - 19 -
4.1.3 企业融资现状 - 20 -
4.2 A房地产公司融资存在问题及原因分析 - 21 -
4.2.1 企业融资存在问题 - 21 -
4.2.2 企业融资存在问题原因分析 - 22 -
4.3 A房地产公司融资创新 - 25 -
4.3.1 融资改进方向 - 25 -
4.3.2 融资问题解决及创新 - 25 -
5 中国房地产行业融资对策及建议 - 26 -
5.1 有效开拓多种融资渠道 - 26 -
5.1.1 开拓房地产信托融资渠道 - 26 -
5.1.2 鼓励有限合伙制等各类私募基金的发展 - 27 -
5.1.3 资产证券化 - 27 -
5.1.4 积极推动企业在境内外发行企业债 - 28 -
5.1.5 保险资金进入住宅融资市场 - 28 -
5.1.6 大力推行融资租赁方式 - 29 -
5.2 完善地产行业融资政策体系 - 29 -
5.2.1 完善融资产业政策 - 29 -
5.2.2 完善融资金融政策 - 30 -
5.2.3 完善融资税收政策 - 30 -
5.3 完善房地产行业信用体系建设 - 30 -
5.4 提高房地产企业融资能力 - 31 -
5.4.1 合理选择融资模式 - 31 -
5.4.2 争取融资多元化发展 - 31 -
5.4.3 争取上市拓展融资渠道 - 32 -
6 结论 - 32 -
6.1 总结 - 32 -
6.2 对未来的展望 - 33 -
参考文献 - 34 -
致谢 - 36 - |
