房地产企业融资模式选择研究-工程管理专业论文.docxVIP

中文摘要 房地产行业是一个资金密集型行业。在房地产企业的发展过程中，如何寻找 到低成本、高效率的资金支持，成为影响房地产企业生存与发展的一个重要影响 因素。因此，构建一个与房地产企业发展模式、管理模式相适宜融资模式，则对 房地产企业的可持续发展至关重要。 近年来，随着我国房地产行业发展速度逐步放缓，房地产企业的融资问题日 益突出。本文以国内房地产企业为研究对象，结合房地产企业融资有关理论，在 分析当前国内房地产企业融资模式发展现状，以及存在的有关问题的基础上，针 对大型房地产企业和中小型房地产企业提出了具体的融资模式选择建议。本文研 究发现，当前我国房地产企业融资模式主要呈现出房企资金需求量依然巨大、自 筹资金及其他资金仍是房企的主要资金来源，以及新型融资模式逐渐兴起等特 征。同时，现有的房地产企业融资模式存在房企承担较高融资成本、融资模式较 为单一、房企背负较高的负债率、上市融资难度较大等问题。 最后，本文在综合对比相关不同融资模式优劣的基础上，构建了房地产企业 融资模式选择应遵循的相关原则，并分别提出了大型房地产开发企业和中小型房 地产开发企业进行融资模式选择的具体建议。本文认为，大型房地产开发企业可 以通过积极运用银团贷款融资模式、大胆尝试海外债券融资模式、大力探索 REITs 融资模式等方式进行融资；中小型房地产开发企业则应该以银行信贷融资 模式为基础，以房地产信托融资模式为辅，并且灵活选择借壳上市融资模式等方 式为企业发展寻求资金支持。 关键词：房地产企业，融资模式，选择 ABSTRACT Real estate industry is a capital intensive industry. In the process of the development of real estate enterprises, how to look for the financial support of low cost, high efficiency, has become affect the real estate enterprise survival and the development of an important influencing factors. Therefore, to build a suitable development mode, management mode and real estate enterprises financing, it is very important to the sustainable development of real estate enterprises. In recent years, with the development of Chinas real estate industry growth is slow gradually, real estate enterprises financing problem increasingly prominent. In this thesis, the domestic real estate enterprises as the research object, combined with the real estate corporate finance related theory, based on the analysis of the current development status of domestic real estate enterprise financing mode, and on the basis of the related problems of for large real estate enterprises and small and medium-sized real estate enterprises put forward concrete Suggestions on financing mode selection. In this paper, the study found that current our country real estate enterprise financing mode mainly present enterprise capital demand is still huge, self-raised funds and other funds is still the main enterprise, sources of funds, and the characteristics of