The Positive Analysis Of The Capital Structure And Company Performance Of The Listed Companies In Real Estate Industry

The real estate industry is developing rapidly and plays a more and more important part in our economy. Besides, compared with other industries, the real estate industry has obvious capital structure with the characteristics of high liability rate and much bank liability. Recently, the financial watchdog has made a series restricted polices to limit the loans to the industry, which influences the financing channel of real estate trade and then has influenced their capital structure. So the relationship of the capital structure and the company performance has become the focus of many people's study. However, there are still many different views on the problems of how capital structure affects company performance and the relationship of capital structure and company performance. They cannot get a general conclusion on this problem even after plenty of positive analysis.The essay firstly introduces the background of research,object choice,retrospection on fruits gained. It also analyses the theory on capital structure, which includes traditional theory on capital structure and modern theory on capital structure. Then, these paper analyses several respects as financial structure, debt structure and stock structure, and sums up the characteristics of capital structure. It also compares the Chinese company performance with other countries and sum up the characteristics of company performance.The demonstration research uses regression analysis divided by two different development phases. On the basis of demonstration research, the author makes lengthways and transverse analysis. In the lengthways analysis, we can get different positive results in the different finance environment. This text combing the actual conditions of the real estate trade in our country analyses this positive result from real estate stage characteristic and policy influence and then forecast a developing trend. In transverse direction analysis, the author deeply analyses the relationship of liabilities structure and the company performance. The thesis not only considers the microcosmic and macroscopic factors, but also makes deeply positive analysis.Combining with positive result, this text brings forward some advices to improve the company performance mainly by optimizing debt structure and stocks structure, exploiting new fund resources, making strategy alliance and reinforce law and regulation builds.