The Research On The Correlation Of The Real Estate Listed Company's Capital Structure And Corporate Performance

With the continuous improvement of people's living standard, China's real estate industry has entered a rapid development period. However, in the development process these real estate companies faced many problems and shortcomings which have limited its further development, enabling company stagnation or decline in performance. And enterprises to be competitive, They must have a good capital structure to support their healthy development, the real estate industry, capital structure optimization is the key to resolve these issues. For the real estate corporate performance is a company overall strength of the performance, Therefore, this article focuses on the real estate listed company's capital structure and corporate performance, as well as if the capital structure exist the optimal of relevance of the problem?In this paper, we define the concept of capital structure and corporate performance, pointing out the close relationship between the capital structure and corporate performance. Then from the industrial point of view, we study the real estate listed company's capital structure and corporate performance status and the characteristics of a more detailed data analysis by using descriptive statistical methods ,and draw our room real estate capital structure of listed companies, we find that there is high levels of asset-liability ratio, debt structure is irrational, high levels of current liabilities, while the corporate performance have instability characteristics. Then I select 208 sample data of the real estate listed companies from2004 to 2008 at the end of the year, the basis of existing empirical research on the real estate business over a single measure of performance indicators, this paper refers to a comprehensive selection of performance indicators, namely, I use factor analysis calculated the integrated performance of the real estate listed companies, and also use the regression analysis to analyse the capital structure and corporate performance- related of the real estate listed company to conduct empirical research. Optimal capital structure for the real estate listed company to explore, little involved, This is also a preliminary research for the range of the optimal capital structure of the real estate listed company, through the empirical analysis reached ,we have the following conclusions: That is sub-annual analysis between corporate performance and capital structure is a negative correlation in the near future; short-term interest-bearing debt ratio and long-term interest-bearing debt ratio apart from most of the performance of the year with a negative correlation between capital structure and corporate performance, some other year's results are not significant, particularly the long-term interest-bearing debt ratio does not show a clear correlation, and the shows listed that the real estate companies performance is not stable; by empirical research, we also found that the relationship between the two there is three curve fitting, Accordingly, the listed companies in China receive the optimal capital structure range. To solve the above empirical findings, as well as the overall context of the current situation in the real estate industry, we puts forward corresponding countermeasures and suggestions.