The Research On Financing Structure Based On Corporate Social Capital

With the emergence of soaring housing prices, excessively high growth of real estate investment, increasing vacant housing area and unreasonable proportion of housing area and so on, they has been caught the central government's attention. The central government has increased a series of stringent measures to the macroeconomic regulation and control, such as stricter control on real estate development finance, and land management, and the scale of urban demolition. These measures have affected the financing structure of the current real estate enterprises, while have played the important role of controlling real estate credit risk and maintaining financial stability.This paper firstly reviewed the traditional financing structure theory, combining realistic background, and obtained inadequate socialization consideration about the traditional theory, and proposed a new research perspective, corporate social capital. Then, the paper systematically reviewed the relevant literature on corporate social capital, and mainly defined that corporate social capital in the paper is built on trust, norms, the network, embedded in the corporate social network structure, can promote the business goals to achieve actual or potential resources. Then, the paper established our index system of corporate social capital, real estate companies as samples. Meanwhile, the paper used the corporate social capital index as an explanatory variable, and modeled regression analysis on the financing structure; found that corporate social capital index and asset-liability ratio, current debt levels are related. Finally, the paper summarized the main conclusions, and gave the following research plan.