Study On The Ability To Withstand The Financial Crisis Of Chinese Real Estate Enterprise

In this paper, I choose 63 Chinese real estate enterprises which listed in the chinese A-share market as the research sample. By comparing changes in operation status of these enterprises before and after the outbreak of the financial crisis, this paper has evaluated the ability to withstand the financial crisis. The sample companies is ranked acording to the ability. This paper has chooses four facts of the features of business operation such as the degree of diversification, the level of assets and liabilities, the geographical distribution of business and firm size. Then, the paper assumes the relations between the ability to withstand the financial crisis of these enterprises and the four facts of the features of business operation, and then has tesed these hypothesis in order to find out that what enterprise has the stronger ability to withstand the financial crisis and why. At the end of this paper, the writter gives some advices acording to the conclusion of the study.The paper has five parts: The first part is introduction,which introduces background of the issue mainly and illustrates its theoretical significance and practical significance briefly.The second part is a literature review and research synthesis. The paper has reviewed the literature on the problems which were involoved in this article such as enterprise crisis and risk management, the financial crisis and the relationship between real estate companies, this global financial crisis, the relationship between the enterprise's core competence and the ability to withstand the crisis.The third part is the definition and evaluation of the ability to withstand the financial crisis of the real estate enterprises. Based on the existing literature and theoretical results and the financial data disclosured by the enterprises which are listed in the chinese A-share market, this paper makes the index system which is used to evaluate the capacity to withstand a crisis of the real estate enterprises. And then, this paper evaluates the capacity to withstand a crisis of the real estate enterprises thought the index system.The fourth part is to study the relationship between the business characteristics and the ability to withstand the crisis. Based on existing literature and theory, this paper proposes the assumption on the relationships between the business characteristics and the capacity to withstand the crisis, and has some conclusion after the analysis using the statistical software for statistical analysis of data. The fifth part is to discuss the findings and recommendations. This chapter is mainly illustrated to the results. And on this basis, this article propuses some relevant recommendations about the real estate business production and operations. At the end, this paper has proposed the study limitations and prospects for future research.