The Performace Evaluation Of The Real Easte Company And The Analysis Of Influncing Factors Of The Performance

This article uses the financial index to analysis the performance of 45 real estate listing companies which are listing on the Shanghai and Shenzhen Stock Exchange, and utilizes the factorization method to calculate their performance score, and analyzes how the capital structure, the equity structure and the company govern influences the performance of the listing companies. At last, we put forward some suggestions to improve the performance of the real estate listing companies.The paper constitutes of six parts:Part I introduces the research background, the significance, the present situation of domestic and foreign research, the research frame, the possible innovation and insufficiency.Part II introduces some economical theories and techniques relating to the performance evaluation of listing companies, mainly including two measurements, single indicator weighting and multiple indicators weighting.Part III describes the current situation of the development of real estate industry in China, analyzes the trend and the performance of the real estate listing companies. We also indicate the influences of macro-economy and state policy to the industry.Part IV is the empirical part. We choose factorization method to calculate the performance score of the real estate listing companies, and from the rank, we discover that the operation performances of the real estate companies appear the polarization tendency.In part V, we analyze the relationship among capital structure, equity structure and company govern and operation performance of the real estate listing companies to validate the previous assumptions.Based on the former theoretical analysis and empirical research, Part VI puts forward suggestions to improve the performance of the real estate listing companies in China: Consummating the mechanism of drawing back the market, promoting interior reorganization of real estate industry, accelerating reform and development of stock market, developing the institution investors, paying attention to the security of the fund as well as maintaining high proportion of the current assets, Perfecting enterprise's bankrupt system, developing bond market, strengthening the sanction of creditors, developing China's capital market and promoting the diversification of financial channeling.