Research On The Financing Decision-making In Real Estate Enterprises

Financing decision is an important component of prophase plan of real estate development project, and plays a key role in financial management, which attempts to find and decide the best optimal scheme to offer enough fund for the project. Because the financial strategies influences on risk level and ROE (return on equity) of the project, research in this field has a practical significance for real estate development enterprises to overcome more challenging environment.The main arguments of the dissertation can be summarized as follows:Firstly conduct a comparative analysis on the basic characteristics, status quo & perspective of different financing approaches on a level of macroeconomic environment view.Secondly, aiming at the disadvantages of current methods in financing decision-making in real estate enterprises, a concrete modified thinking is posed on a level of enterprise operation. The most suitable financing combinations aimed at different periods of real estate development, different real estate projects and different scale real estate enterprises is analyzed and designed out.Since the capital markets are not perfect in China today, the real estate enterprises with different scale have a great difference in choosing financing approaches. Together with the modern capital structure theory, the article studies the finance scheme optimization methods of the real estate enterprises on the stock market by combining with qualitative and quantitative analysis, and provides a practical method to realize theoptimization structure of capital——the lowest WACC and highest market value.Finally, the article also researches the financing decision-making in intermediate and small real estate enterprises using the Analytic Hierarchy Process.