Study On The Financial Crisis Of Listed Real Estate Companies

Real estate is a typical capital-intensive industry; it has the characteristics as large investment, high risks, long cycle, length supply chain, strong regional. As a pillar industry of national economy, the state adopted a series of supportive policies leading the real estate development grow rapidly and competitive intensely. The real estate companies face opportunities and challenges, they are under great pressure. Real risks and real estate companies gave the crisis brought a lot of uncertainties, the financial crisis has become one of the most crucial factor. Real estate company have serious financial problems such as: a large debt, high rate of assets and liabilities; narrow channels of financing, lack of funds; financial budget and cost too much deviation; financial management confusion of the real estate market gave the stakeholders have had a great losses associated with those of the urgent need to establish a financial crisis, warning issued in advance of the financial crisis signal analysis system, so the real estate market into a financial crisis was a widely predicted important research topic. Financial crisis in the real estate market forecasts, which not only has high academic value, but also has great practical value, for the Chinese economy is increasingly sophisticated, more urgent need to improve the prediction of financial crises. Establish an effective system of financial distress prediction, made more timely and accurate prediction of the outcome of the financial crisis, but for the gradual development of China's real estate market is still not perfect, the market economy through self-financing after the reform of commercial banks and accounting firms at risk speaking, of great significance. Along with improving the theory and research related to the development of this research will continue to be promoted.This paper describes the background and significance, reviews and summarizes the companies listed on the classical theory predicted the financial crisis and the current research at home and abroad, it divides statistical methods into financial crisis financial crisis prediction and non-statistical forecasting and expresses research ideas. Secondly, it introduces the definition of financial distress of listed companies, real estate, basic financial accounting theory and the real estate business processes. The definition of the financial crisis, due to different research purposes, different scholars have different definitions of financial distress criteria. In this paper, it lists the basic characteristics of the financial crisis and analyzes the characteristics of financial risk according to the characteristics and status of the real estate business. It takes the real estate listed companies which after deled with ST as a sign of financial distress. Research will be to contact the financial position of the financial crisis was abnormal ST treatment. Then, it analyzes the cause of real estate companies of financial crises in our country from external factors and internal factors, at the same time, it studies the production phase of the financial crisis and handling procedures.This paper describes types of financial early warning model dentally, it the financial indicators according to selected principles and the needs of this financial crisis forecast and combining the single-variable index and Z score models two models, after that, it decomposes the net capital gains and the case with the company's annual financial statements of listed companies to conduct real estate financial analysis, forecasting financial crisis. Listed real estate companies on the financial crisis in a timely and effective research can predict the possibility of listed real estate companies or even financial crisis and the probability of bankruptcy in order to reveal the risk and take timely and effective avoidance, risk mitigation measures, has been a real estate managers of listed companies, governments, investors, creditors and other stakeholders in issues of common concern. Introducing the variety of financial indicators model of the real estate market research to predict the financial crisis according the current situation in our country and our specific circumstances listed real estate company has important economic value and practical significance.