毕业论文《新调控下房地产公司融资管理调查分析》.doc

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毕业论文《新调控下房地产公司融资管理调查分析》,摘 要  2011年对中国的房地产上市企业来说将会是不平凡和难忘的一年,限购令后市场出现了“退烧”的态势,银行信贷门槛的提高等一系列宏观调控政策考验着企业的生存和发展,面对成交量下滑,银行的金融政策紧缩的情况,如何在资本市场上另谋出路,寻求新的融资渠道就成了房地产行业的重中...
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毕业论文《新调控下房地产公司融资管理调查分析》





摘    要


  2011年对中国的房地产上市企业来说将会是不平凡和难忘的一年,限购令后市场出现了“退烧”的态势,银行信贷门槛的提高等一系列宏观调控政策考验着企业的生存和发展,面对成交量下滑,银行的金融政策紧缩的情况,如何在资本市场上另谋出路,寻求新的融资渠道就成了房地产行业的重中之重。房地产行业是在波动中前进;企业在赌博中发展;融资是一个永恒的主题。资金链的问题是房地产企业的生命线,与资本市场的互动,选择正确的融资方式,懂得资本市场的规律,投其所好,抓住资本市场的窗口,这些又成为房地产行业致胜的最主要的因素之一。现在的国内地产市场融资比较简单,还是上市、融资,发债,定向增发或者公开增发,包括可转债,包括现在马上要推出的REITS,但是可以预料,随着中国房地产行业的发展,金融运作一定会变得越来越复杂,越成熟。投资银行与房地产开发企业的互动一定也会越来越多,价值挖掘也会越来越充分。一个房地产公司要想更好的利用资本市场的平台,一方面要有自己的融资发展的战略,另外一方面要多渠道的建立的融资品种、或者平台,这个平台上应该有多个品种,可能有银行融资、债权融资,资本市场做股权融资的,还有信托,基金。本文将围绕国家宏观调控的大背景,分析现行金融调控政策与房地产上市企业融资渠道的关系,阐述我国当前房地产企业传统融资渠道存在的弊端及其影响。最后,结合现行较为成功的房地产上市企业融资渠道,进一步提出创新我国房地产融资渠道的意见。

  

  

  

     关键词:房地产企业,宏观调控,融资

    

    

    

    


 


 


                        Abstract

  The year 2011 will be extraordinary and unforgettable for the real estate enterprises in China. The real estate market has not been blooming as ever. The survival and development of the enterprises are being tested by a series of macro-control policies such as raising the credit threshold. Facing the situation that the volume is falling and the bank is taking policy of deflation. It seems that most important issue for the whole industry is to find another way in the capital market seeking a new capital-financing channel. The market is moving on with fluctuation; the enterprises is developing with gambling; one for all, capital financing is the key. The capital chain means a lot to this industry. Financing of the domestic property market is now relatively simple, no more than the marketing, financing, bonds, private placement or public offerings, including convertible bonds, including the soon to be released REITS, but it can be expected, with the Chinese real estate industry, financial operation will become more complex, more mature. Investment banks and real estate development companies will be more interactive, value will be more fully excavated.  This article will focus on the background of national macro-control, analysis the existing financial-control policies and real estate financing channels for the relationship between listed companies to explain China's current real estate business’s drawbacks of traditional financing channels and its impact. Finally, it will carry the more successful the current real estate market financing channels for enterprises, and propose innovative views of the real estate financing.

     

         

      Key Words:  Real Estate Enterprises , Macro-control , Capital Financing

    

    

    

    

    

    

    

    

                             目 录

    

    


引言 1

一、  企业融资的基本理论 2

(一)融资的基本概念 2

(二)我国房地产行业的经营现状 2

(三)当前房地产企业融资存在的问题 3

二、万科地产融资情况简介 4

(一)万科的经营特点 4

(二)房地产行业的融资模式 5

1.债务性融资 5

2.权益性融资 7

(三)万科公司融资行为的介绍 7

三、案例分析 10

四、发展我国房地产公司融资渠道的对策和建议 12

(一)建立多层次房地产融资体系 12

(二)加紧开发房地产金融投资产品 13

( 三)完善房地产金融法律法规 13

(四) 继续加强房地产信贷监管完善制度建设 13

(五)鼓励房地产融资专业人才的培养和理论研究 14

结束语 15

参考文献 16

致谢 17