Research On Financing Decision-making Of Small And Medium Real Estate Enterprises

The real estate industry is a dense capital industry. The capital is the life of project moving, the rupture of capital will take very much risk involved in real estate enterprise and financial organization. A series of macro-control polices increased the difficulty of loan and the proportion of statutory capital of construction projects and made financing environment for real estate enterprises become more and more critical. Furthermore, the scale of the most real estate enterprise is small, and their financing capability is bad. Although they have paid enough attention to enterprise financing, there is a lack of right theory and methods to lead them to the right way,and the theoretical guidance is far behind the practical requirement, so the phenomenon of using funds with blindness is very common. Such a pressing finance environment meant more obvious fund pressure to the great mass of the small and medium real estate enterprise, they have to do their best to optimize the allocating capital in order to realize the maximum of enterprise value.According to the fact of the real estate in our country, firstly this paper narrated the progress of the internal real estate industry, and minutely analyzed the financing actuality of the small and medium real estate enterprise at home and abroad. Secondly, studied the financial actuality of the real estate industry in China, and expatiated the factual financial gap from working over macro-control policies, and then discussed the traditional and new financing channel in China, at one time indicated the merit and demerit of the financing channels and applicability to the small and medium real estate enterprise. On this basis, author also made economic analysis for the difficulty of financing of the internal small and medium real estate enterprise, hoped receive the unalloyed reason for the difficulty of financing. Thirdly the paper optimized financing structure from forecasting the capital needs, evaluating financing program, and the dynamic financial risks management, in order to alleviate the financing pressure of the small and medium real estate enterprise. Finally discussed how to optimize the financing structure with some concerned data, and put forward some proposals for the small and medium real estate enterprise.During the whole research process of the paper, the author combined information economy and credit rationing models with the financing problem of the internal small and medium real estate enterprise, and then received the unalloyed reason for the difficulty of financing. Furthermore, the author first applied ANP which is a scientific decision-making method and used rarely in China to the financing program evaluation of the small and medium real estate enterprise as a new try.The main purpose is to optimize enterprise's financing structure, improve the efficiency of financing and provide a strong basis for the small and medium real estate enterprise's financing.