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长效管控机制下中小型房地产企业融资方式研究

Research on Financing Methods of Small and Medium-sized Real Estate Enterprises under Long-term Control Mechanism

【作者】 吴波

【导师】 李晓力;

【作者基本信息】 西南交通大学 , 工商管理, 2022, 硕士

【摘要】 房地产业是我国经济体系中重要的产业体系。自2008年以来,房地产开发投资对经济增长的贡献度基本都在10%以上。2021年中国房地产销售面积17.94亿平方米,商品房销售额181900亿元。但行业高速增长的过程中同时也暴露出各类弊病,这为行业整体长期健康稳定发展带来了不确定性和隐形风险。2016年12月,建立房地产行业长效管控机制首次在中央经济会议中提出。明确了\“房子用来住的,不是用来炒的”的定位,以“稳地价、稳房价、稳预期”为诉求点,综合运用金融财税、土地供给、市场管控等手段构建起在市场经济环境下有效的行业政策体系。长效管控机制终结了房地产业利用土地红利和金融杠杆的“野蛮生长”,房地产行业集中度进一步提升,企业的经营发展逻辑和经营思路也将乘势而变。对中小型房地产企业而言,企业的市场竞争将愈加激烈,经营压力明显上升,外部融资环境趋于严峻,运用适宜企业发展的融资方式成为中小型房企管理层及决策者的重要工作。本文首先对国内外相关文献进行归纳总结,继而对长效管控机制的建立以及对房地产行业、房地产企业等方面的影响进行分析,重点探讨了长效管控机制对中小型房地产企的影响。本文以SS公司为研究对象,结合企业的财务情况、融资现状情况对企业当前面临的融资困难问题的成因进行分析,并就改善融资工作提出了相应措施及建议。SS企业在财务结构上属于稳健性企业,偿债能力较好,但企业的资金利用效率不高,融资结构配置不合理,同时融资资源的开拓能力也有待提升。结合企业需求,建议企业从调整经营思路打开合作、提升经营能力强化资金回收、融资结构调整提升资金效率、新型融资方式应用等方面进行改进,并建立相应的保障措施,以期真正实现融资为公司发展提供有力支持。

【Abstract】 At present,the real estate industry is an important industrial system in our economic system.From2008,Investment by real estate development has contributed more than 10 per cent to economic growth.In 2021,the estate sales area was 1.794 billion square meters,and reached 18190 billion sales revenue of the year.However,in the developing history,the various drawbacks are also exposed some problems,which brings uncertainty and implicit risk to the overall long-term healthy and stable development of the industry.From December 2016,the Central Economic Conference was first proposed the establishment of a long-term control mechanism.It has made so clear that the positioning is "house for living not for speculation".With "stabilizing construction land price,control housing price and keep expectation" as the appeal point,it has established an effective industrial development system in the market economy environment by using financial,fiscal and tax measures,control land supply and more strict market management.The control mechanism has end the "wild growth" history of the real estate company and industry using land dividends and financial leverage,and the resource of real estate industry will get into a highly competitive market,the operation,development logic and thinking of enterprises will also change.For the small and medium real estate enterprises,market competition space will be more and more intense,the had to face greater pressure on the management,external financing environment tends to be severe,find the useful financing methods suitable for the development of enterprises has become more important things for the management and decision maker.This paper first summarizes relevant literature from native and foreign,then take analyzes the establishment of long-term control mechanism and its impact on the real estate industry and the enterprises,focusing on the impact of control mechanism for small and medium-sized real estate enterprises.To be more accurate the problem,he thesis takes SS Company as an example.By the truth condition,take analyzes for the company in combination with its financial situation and financing status and the difficulty situation,puts forward corresponding measures and suggestions for improve the work.SS company is a stable company in terms of financial structure with good solvency,but its capital utilization is not good and the value must take promote,the financing structure should make adjustment and the development ability of financing resources also needs to be improved.For the needs,the thesis suggested that the company should change their business ideas like get new cooperation partner,improve business ability and strength the capital recovery,improve the efficiency of capitals,apply new financing methods,and establish corresponding safeguard measures,The ultimate is order to make financing work can provide strong support for the development of the company.

  • 【分类号】F299.233.42
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